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Janet Yellen To Discuss "The New Normal For Monetary Policy"
In a few minutes, Janet Yellen will address a lunch session in her native SF Fed (the same place which earlier this week finally figured out what debt is) during a conference whose topic is The New Normal for Monetary Policy (the typo from "Paranormal" is easy to make).
The full formal agenda is shown below.
The informal agenda will be Yellen's explanation of how she plans on achieving the yield curve which we predicted back in 2010 is just a matter of time.
And while it is unlikely Yellen will say much if anything actionable, the speech taking place 15 minutes before market close on a Friday has many wondering: why now, and how will the algos react to the headlines from her speech, if not so much in the Emini where lately it has been all Citadel and the Bank of Japan, then more in the EURUSD and USDJPY.
We will post the full speech once it is released in a few minutes.
And here are the headlines:
- YELLEN: TIGHTENING PACE COULD SPEED UP, SLOW, PAUSE OR REVERSE
- YELLEN: GRADUAL RISE IN RATES APPROPRIATE OVER NEXT FEW YEARS
- YELLEN SAYS RATE RISE MAY WELL BE WARRANTED LATER THIS YEAR
- YELLEN: STRONGER DOLLAR HURTING EXPORTS; HOUSING STILL SUBDUED
- YELLEN SAYS LABOR MARKET RECOVERY HAS BEEN SUBSTANTIAL
- YELLEN SAYS CAN'T WAIT UNTIL INFLATION BACK TO 2% BEFORE MOVING
But the punchlines, and why a rate hike appears a done deal at least in the eyes of the Fed:
I would first note that the current stance of monetary policy is clearly providing considerable economic stimulus. The near-zero setting for the federal funds rate has facilitated a sizable reduction in labor market slack over the past two years and appears to be consistent with further substantial gains. A modest increase in the federal funds rate would be highly unlikely to halt this progress, although such an increase might slow its pace somewhat.
Second, we need to keep in mind the well-established fact that the full effects of monetary policy are felt only after long lags. This means that policymakers cannot wait until they have achieved their objectives to begin adjusting policy. I would not consider it prudent to postpone the onset of normalization until we have reached, or are on the verge of reaching, our inflation objective. Doing so would create too great a risk of significantly overshooting both our objectives of maximum sustainable employment and 2 percent inflation, potentially undermining economic growth and employment if the FOMC is subsequently forced to tighten policy markedly or abruptly. In addition, holding rates too low for too long could encourage inappropriate risk-taking by investors, potentially undermining the stability of financial markets. That said, we must be reasonably confident at the time of the first rate increase that inflation will move up over time to our 2 percent objective, and that such an action will not impede continued solid growth in employment and output.
And here is Yellen's word count:
Fuil speech below (pdf)
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Just in time for an afternoon ramp.
or dump, depending on how the idiot box algo's interpret things.....
vieille pute de merde.
A fork for my eyes please!
What in the hell is that thing...That is about the ugliest demonic thing I have ever seen.
and Ive seen a picture of hitlerey!
More blowing smoke by Mr Yellen- gives the illusion of control, almost like they know what they are doing.
Many many generations of inbreeding. Yes it IS demonic.
What the Fed is Really Saying: English Translation
Translation by Cathrine Austin Fitts
https://solari.com/blog/what-the-fed-is-really-saying-english-translation/
.
a) A tesseract
b) folded space (for those who don't know what a tesseract is)
c) my carpeting after leaving the house in the care of my college aged kids
d) Dollar store toilet paper
e) pictogram of the new world order
f) Inside of John Malkovich's head
g) the US economy after the banksters, congress and MIC wiped their butts with it.
h) YELLEN: TIGHTENING PACE COULD SPEED UP, SLOW, PAUSE OR REVERSE (time machine? alternate dimension device? wtf!?!? "transparency" must include Schroedinger's cat!).
Oh the head bobbing - a trained instinct or a sign of the health quality of the captain???
If only....
Patriots chant USA and drive Illinois Official Gutierrez off the stage.
http://www.thegatewaypundit.com/2015/03/il-pro-amnesty-lawmaker-shouted-...
I guess Janet Yellen never has to put up with meeting people on Main Street.
Janet, try serving all US People instead of just the Wealthy Corporations... Okay?
Do you hear the people sing,
singing a song of angry men?
I'm making over $7k a month working part time. I kept hearing other people tell me how much money they can make online so I decided to look into it. Well, it was all true and has totally changed my life. This is what I do... http://goo.gl/9YqZBb
o great, shee just needs to make sure she starts speaking 10 minutes before the close so all losses can be wiped out for the week in minutes, even though this bitch will say the same shit she has said over and over again
The bounce started before she says a word......
And died.
Now this would be some good shit,
if she only had a brain.
Gold and the miners taking a dump now. So predictable.
Well, as everyone """knows""" by now, when Yellen, formerly Bernankee, formerly Greenscam (get the pattern yet...?), yaps, you dump gold...and buy stawks.
They must be so loved in their social circles for being such "smart" people with such power.
I am convinced the number one requirement for the Chairsatan is to be able to talk a lot and say very little.
perfectaly normal...
fraud that is......
yellen rarely says anything. the minute he starts talking, the markets rocket - that's yellen's value add - kinda like blowing a whistle
yellen's flapping gums are the trigger to turn on the algos and bid the market
small ramp at 340p, but it faded - 10m to close
that this asshole yellen can flap 15m before close should be a crime.
But her bounces get shorter and shorter. The FOMC bounce was more a blip.....
Pretty soon the only bounce this old douche bag will get will be her sagging tits as she steps down from the podium...
"that this asshole yellen can flap 15m before close should be a crime."
Right. What a total fraud/criminal org. They don't even care to hide it well any longer. Smacks of desperation. But it'll get more desperate.
Honestly, and I hate to say this because some of my best friends and all of that...but I think the banking tribe needs to re-consider why it is that history seems to rhyme so often for them...
Bancruptcy means, literally, 'break the bank's table,' and there's a reason why such a violent expression as smashing your banker's table was the logical outcome...
...there's only so many times you can be ripped off before you become violently angry...
Wash, rinse, repeat.
1) we will keep rates between 0-25 bp forever. or at least until the great reset.
2) the central banks of the world will take turns printing money and juicing the markets with it. when a given country takes a brief pause from printing, the other central banks agree to prop up said country's market.
i hope everyone enjoyed the continental breakfast. thanks for attending.
Here is the Number one biggest Influence.
$28 Trillion Foreign ownership.
I'm not an Investor. But maybe I can think of a way to make this information work for me. I think Yellen will increase rates a little due to Foreign Pressure and conditions in Foreign Markets. The foreigners will want a bone thrown to them. But if the FED can provided higher interest rates to friends overseas by swapping out bonds or treasuries for better paying US Long Term Treasuries... they will do it (for their Buddies)
http://www.treasury.gov/ticdata/Publish/shl2002r.pdf
http://www.treasury.gov/ticdata/Publish/shla2013r.pdf
(http://www.treasury.gov/ticdata/Publish/mfh.txt)
http://www.bea.gov/newsreleases/international/intinv/iip_glance.htm
Last Data is from December 2014.
Belgium 2002 = $10.8 B, then 2013 = $163 B, Today $335 B
Bermuda 2002 = $14 B, then 2013 = $94 B, Today ??
Cayman Islands 2002 = $10.7 B, then 2013 = $66 B, Today ??
Canada 2002 = $8.4 B, then 2013 = $46.6 B, Today $69 B
China 2002 = $95 B, then 2013 = $1,272 B, Today $1244 B
France 2002 = $11 B, then 2013 = $42.4 B, Today $79.2 B
Germany 2002 = $38 B, then 2013 = $54 B, Today $72.7 B
Hong Kong 2002 = $37 B, then 2013 = $89 B, Today $172.6 B
India 2002 = $5.2 B, then 2013 = $56.6 B, Today $83 B
Ireland 2002 = $6 B, then 2013 = $91 B, Today $138.6 B
Japan 2002 = $260 B, then 2013 = $1,023 B, Today $1231 B
Luxemburg 2002 = $20.2 B, then 2013 = $107 B, Today $172 B
Mexico 2002 = $16.7 B, then 2013 = $52.7 B, Today $84.8 B
Norway 2002 = $5 B, then 2013 = $74 B, Today $81.6 B
Philippines 2002 = $3 B, then 2013 = $36 B, Today $40.6 B
Poland 2002 = $7 B, then 2013 = $31 B, Today $27 B
Russia 2002 = $3 B, then 2013 = $138 B, Today $86 B
Singapore 2002 = 19.4 B, then 2013 = $82 B, Today $110 B
Switzerland 2002 = $28 B, then 2013 = $157 B, Today $190 B
Taiwan 2002 = $0 B, then 2013 = $183 B, Today $175 B
Turkey 2002 = $2 B, then 2013 = $18 B, Today $77 B
United Kingdom = $45.7 B, then 2013 = $130.6 B, Today $189 B
http://research.stlouisfed.org/fred2/series/ROWFDNQ027S ($3.16 Foreign Investment USA)
http://research.stlouisfed.org/fred2/series/GPDI ($2.9 Private Domestic Investment)
Instead of listening to Yellen speech, just loop 'Money for nothing, checks for free'.
A man with his priorities straight;)
If chicks are free, then please explain why I need money?
Calipornia dreamin'...
"If chicks are free, then please explain why I need money? "
Liquor and dope, guitars and sportscars, leather and hair products, lube and birth control: aren't free.
Here's the latest transcript from yellen the filthy barn yard cunt:
oink, oink, oink
suwee, suwee,
oink, oink, oink,
suwee, suwee, suwee
slurp, slurp, oink, suwee
Yea no shit
If you grab a piece of white (or blue) paper, and crunch it up horizontally, then unroll it...
Again, love the 3-D yield curve, reminds me of a scarf I lost shoveling snow back in the winter of '78
Hmmmm... We'll do something unless we don't do something....maybe.....
hold on....My balls itch.
https://www.youtube.com/watch?v=rTMnz_OG9rk
She opens her pie hole and stawks take off.
So predictable.
Monday markets after a weekend crack binge might be interesting, especially since world markets get the first say....
wait a minute. please tell me this is a fucking joke. did she really say this:
YELLEN: TIGHTENING PACE COULD SPEED UP, SLOW, PAUSE OR REVERSE
More or less...yes. What did you want, a definitive statement?????
probably slipped up and was talking about her sex drive
What tightening pace is she talking about 4 years of jawboning. Just look at the FED dot plot from 2011. By this time according to even the most dovish fed members we should be at 2%. I'm sure 2 years from now the talking heads and pundits will be talking about "the most important" fed meeting ever, and if they don't raise rates the FED will lose all credibility.
Her words have absolutely lost all meaning, just like Ben's and Alan's. Its like believing a banks balance sheet after the took away mark to market. Its all bullshit and everbody with an IQ of 100 knows it.
Yellen and Bernanke are pulled by who ever lobbies the FED.
No different from US Congress Voting for Weapons to Ukraine or going to war in Iraq or giving the Military higher funding and a new computer building for the NSA.
But I imagine EU, ECB, European Powers are asking for a Bone to help their cash flow and their Economy after the Russian Sanctions removed their tail wind.
I don't believe FED Rates will ever go hire than 5% again in my lift time. I fully expect the FED will again lower rates at the first sign of a Tech Crash, a Dot Come Crash, a Terror Attack, a Banking Crash, a Credit Crash.
But in this European investment in US Long Term Treasuries along with others around the world... this is our Silver Lining.
FED is not Political!! RFLOL FED it totally political.
When the world is running down - The Police trough the years
http://www.youtube.com/watch?v=DAtc9mlX72Q (3:28)
Spirits in the Material World - The Police
http://www.youtube.com/watch?v=IBvdHXChNqY (3:01)
https://www.youtube.com/watch?v=o6MBbKp7M88
I listened to her testify ONE time.
Incomprehensible.
Better luck trying to understand one of the 'Children of Tama'
"In addition, holding rates too low for too long could encourage inappropriate risk-taking by investors,"
there is a residential development where that barn (door) stood
translation---------rates will never go up in any meaningful fashoin and qe4 is coming next time the markets crash.
That chart looks like the US economy after the banksters, congress and MIC wiped their butts with it.
http://www.wwoz.org/blog/320986
Alex McMurray, "You've Got To Be Crazy To Live In This Town"
.
the fed is a criminal, mafia like, syndicate borne of
the desire of some psychopaths to better steal and kill
for fun and profit while also being able to finance the
white wash of the history and facts of the matter through
the industrial control of information and communications.
.
prosecute them and the world may stand a chance
of reclaiming some semblance of rationality and sanity,
some modicum of humanity may still be viable.
"Cash is not a very convient store of value"
Isn't that the ENTIRE reason we use cash, convience?
Santelli nailed this one.
Put the circus freak back inside its cage.
Ace Hole Yellen is taking away the punch bowl.
"Markets" will teach her a lesson !
If you remember, in early 2009, Geitner and Bernanke kept flying ideas to the "market". When the big boys were not happy,
they continued to punish the markets until Bernanke and Geitner gave the "markets" the free cash they wanted. Which was QE 1 in March, 2009...
the botton of the move.
I "used" to believe that markets were bigger than the "bigs". They will pound yellen until she squeals uncle like the ball-less wonder Bernanke.
How dare they take away my free money!
Ace Hole Yellen is taking away the punch bowl.
"Markets" will teach her a lesson !
If you remember, in early 2009, Geitner and Bernanke kept flying ideas to the "market". When the big boys were not happy,
they continued to punish the markets until Bernanke and Geitner gave the "markets" the free cash they wanted. Which was QE 1 in March, 2009...
the botton of the move.
I "used" to believe that markets were bigger than the "bigs". They will pound yellen until she squeals uncle like the ball-less wonder Bernanke.
How dare they take away my free money!
it may be that the fed, the owners and the hangers on
are reluctant to openly state their intentions as they
are unsure how they can best play their interests and
advantages with the world war they are currently orchestrating.
given that, i don't expect anything solid or reliable from
the, by definition, misleading mouthpiece perfumeries.
Janet you ignorant slut
Leaving your money in one of their fraudulent-reserve banks is like leaving your son alone at a NAMBLA convention.
The banksters need to repay us.
"We protect your money while stealing your money."
Janet Yellen is puppet of Stanley Fischer the dual citizen ZioNazi kike roach Jew. Get KIKES out of world banking,
I move we put Rick Santelli in charge of the fed.
Santelli doesn't sound like a KIKE name.
Time for the Kelley Monetary Policy Rule
http://michaelekelley.com/2015/03/27/the-kelley-monetary-policy-rule/
QE and higher rates simultaneously.
Thanks
Kells - that is not a new idea on ZH here, but thanks for resurecting it. I do think that is what the immoral Bolshviks will do.
so we could do anything, or nothing
notice we didn't say appropraite over next few months, or next few qtrs, notice how we said gradual, like slow-like
in other words, it also may not
and here's a downer for the may not
but here's a upper
but then again, here's another downer for the may not
Lord Yellen our savior has spoken.
Zirp is supposed to spark growth, ultimately causing inflation. It's not working this time (2008-present) & these fucktards are freaked out & have absolutely no clue what the fuck to do. I still believe we have one more bailout & maybe another twist or q.e. coming, delaying what they fear the most for another 10 years. It's like we live in an economic nightmare that will never end.