“Here we are eight years later - do you think the public knows how this happened? Do you think the public knows all of the recommendations made to the Justice Department?” Pascrell said Wednesday in an interview. “Why are Hillary Clinton’s e-mails any more important?”
Will she, or won't she? That is the question everyone wants answered regarding whether Yellen will hike rates in two weeks time. To be sure, historical precedented is not on the side of the hawks: as Bloomberg's Daniel Kruger reminds us, "Last September in ambiguous circumstances Yellen opted to stay on hold. Three years ago in September Ben Bernanke chose not to taper QE3 bond purchases."
"We have come to a point in time where you are causing more harm than good... You are once again creating complacency with your words. .. This is damaging to our society. This is damaging to our culture. This is damaging to our psyche."
A survey by the Wall Street Journal shows ‘Soft Skills’ Like Critical Thinking in Short Supply. If critical thinking is in short supply, it’s for one reason only: Lack of genuine demand...Regardless of what they say, most companies really want punctual robots, not creative thinkers.
The Federal Reserve’s long-term influence hinges in part on its ability to convince millennials that its current policies can help push inflation closer to the central bank’s 2% goal. That’s not as easy as it sounds, because this cohort has both a different history and current relationship with this economic variable. Why?
Cash is an unambiguously a blessing to productive workers, savers, and entrepreneurs who wish to protect their hard earned money from the crazed theories and swindling schemes promoted by statists like Rogoff and the central bankers he advises.
While there are many hopes of an end to the current “profits” recession, there is mounting evidence those hopes may once again be disappointed. One of the latest such indications is rising employee compensation. While rising employee compensation is good from the view it should lead to rising consumption, it also reduces corporate profitability (wages reduce profits.)Furthermore, this is especially problematic currently as rising compensation is being offset by soaring healthcare costs due to the Affordable Care Act.
The title of this year’s Jackson Hole meeting – “Designing Resilient Monetary Policy Frameworks for the Future” – is a telling one. It is actually a call to a specific goal, rather than the typical generic one. You get the feeling that the Fed has something on its mind... Translation: Fed projections have been wrong, and the central bank doesn’t know how to make them any better in the future.
Global stocks declined broadly, led by European equities which fell for the first time this week while currency markets continued their subdued tone even as the recent 4-day rally in the USD appears to have topped out, as investors took to sidelines ahead of the Jackson Hole meeting which begins tonight. Japanese and Chinese stocks had suffered modest drops in Asia. S&P 500 Index futures slipped 0.2%, continuing yesterday's modest selloff.