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Philly Fed's Hawkish President Charles Plosser To Retire In March 2015
Onehawk down, and just as rates are supposedly set to begin rising. Smart.
Full press release:
Philadelphia Fed President Plosser to Retire on March 1, 2015
Charles I. Plosser, president and chief executive officer of the Federal Reserve Bank of Philadelphia, today announced that he will retire, effective March 1, 2015. President Plosser has served as the 10th president of the Philadelphia Fed since August 1, 2006.
"For more than eight years, I have had the honor to work alongside many talented colleagues here at our Bank and throughout the Federal Reserve System during an extraordinary period in this nation's economic history. After more than three decades of economic research and teaching, this has been a unique opportunity and privilege to serve the nation," said Plosser.
"Charles Plosser has been an insightful and dedicated leader and colleague in the Federal Reserve System," said Federal Reserve Chair Janet Yellen. "I am particularly grateful for his vital contributions to the work of the subcommittee on communications. My colleagues and I will miss his keen insights, deep analysis, and good humor."
"President Charles Plosser has made significant contributions to the Philadelphia Fed, to the Third District, and to the Federal Reserve System. He has demonstrated exceptional leadership and promoted improved operating performance and governance, especially during his time as chair of the System's Conference of Presidents. He has also provided wise and thoughtful guidance on the direction of monetary policy for our nation," said James E. Nevels, chairman of the Bank's board of directors.
Nevels, founder and chairman of The Swarthmore Group, will cochair a search committee with Deputy Chairman Michael J. Angelakis, vice chairman and CFO of Comcast Corporation.
"The search committee will look at a broad, diverse group of candidates from inside and outside the Federal Reserve System," said Angelakis. "We will seek individuals who have the economic and leadership experience to be an effective policymaker and the chief executive of the Bank." An executive search firm will assist in identifying potential candidates.
And yes, Jeremy Siegel has already submitted his resume.
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hehehehehhe.........yeah another piece of the Kabuki theater
He didn't want to be standing when the music stops. He knows they are all going to get hung whae the shit hits the fan.
Like rates can ever rise. lmao.
... the SHTF is in progress and this move is understandable to put some distance between himself and the FOMC "path"
END THE MOTHERFUCKING CRIMINAL "FEDERAL" RESERVE ALREADY !!!!
Or, he discovered somehow that in a debt based economy, the role of the FED in this scenario, should have bailed out the debtor, not the creditor.
Now the debtor gets bailed out by force...
Getting out while the getting is good.
Mar. 2015 ? he may have left it a little late. A rat leaving the ship should never wait too long.
No soup kool-aid for you. One Year!
Like it mattered, a hawk with no tallons or beak.
He's a HINA-Hawk in name only-easily confused with hyenas..
Hyenas are mostly viewed with fear and contempt, as well as being associated with witchcraft, as their body parts are used as ingredients in traditional medicine. Among the beliefs held by some cultures, hyenas are thought to influence people’s spirits, rob graves, and steal livestock and children.
Well, they have certainly stolen our future.
Pretty clear he sees that Federal Reserve is an irrelevant section of the government now.
Decisions are made at the White House and handed over to them on a piece of paper.
Plosser is smart. Just get out of the way rather being ridiculed later
As a "Hawk" he has been made largely irrelevent for some time.
Reminds me of Leon Pannetta last night on 60 Minutes where he said he was against the evacuation of Iraq by US troops and he believed the US should have left behind a sizable force to deal with and stop the inflow of ISIS types. Wonder why Leon did not resign at the time as it would have made a bigger statement of his objection in policy. Now it just looks like cya.
No pieces of paper are required. Before Obama even entered the campaign for president he knew where he instructions would come from. He’s told who the Secretary of Treasury will be, he’s told what words to say if he ever speaks on the economy. And any comment he might have concerning bankers is cleared before it even goes on the teleprompter.
One wonders why any informed person would not now know that it is the people who own the printing press, who control the currency, who pass on any major financial decision or appointment who are the dominant power over the United States and the U.S. Congress.
And as far as Zero Hedge is concerned, one wonders who would give the comment above an up arrow?
President Woodrow Wilson ought to know who’s in charge. And he summed it up in a capsule: “The great monopoly in this country is the money monopoly. So long as it exists, our old variety of freedom and individual energy of development are out of the question.” -- “Other People’s Money”
If you want to know who benefits from the $29 Trillion TBTF bailout and rising, ask Janet, not Obama. Maybe she’ll tell you. She won’t tell Obana…or Congress.
As for that piece of paper that President Wilson signed (the Federal Reserve Act), he wasn’t the one who wrote it.
Absolutely. Obama would not have been allowed to become even a contender if there was any doubt about his willingness to take instructions from those who appointed him.
'Decisions are all made at the White House, and handed to the global central banker Fed owners'.....anyone dumb enough to actually believe that tripe? Even my 6 year old niece called bullshit.
Decisions are made at the white house..... Lol.... and it was really the tooth fairy who left a dollar under my daughter's pillow.
I was just following orders; I thought they were only going to get a shower. honest.
A great loss to the American House of Ponzi; We wish him all the best going forward through the revolving door.
Rat, meet ship...
More fun to swim with the sharks -- and squids...
Anyone that was decent left already.
Only print until the currency dies members are left running the fed.
Fed hawks are as non-existent as an honest politician.
"One hand simply pays the other."
Everything else is just money laundering...
Plosser: Raising rates will have no effect on the economy or asset prices. Now please excuse me as I cash in on some board and disappear.
How do I get the job...I like good lunches and can change a word or two every month....and you can call me Foghorn Leghorn...the chicken hawk
Go ahead, raise rates, kill all fiat, sounds fucking good to me.
Oh for fucks sakes....Fed clownasses still trying to peddle this BS that they're going to raise rates soon? I'd sooner believe kilo bars of pure gold are set to shoot out of my ass.
Once out,he will start saying truth buisness like the rest that retire.
Best retirement would be a hemp necktie!
You should notice that in dove times there two hawks and in hawk times there are two doves.
You will Never see more than two decenting votes, EVER.
This gives the appearance of true debate on rates
This hawk will be replaced with a new hawk