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Yellen Explains Why The Fed Chicken'd Out Again - Press Conference Live Feed
After 55 consecutive meetings, we should be used to it by now but a lack of forward hawkishness and complete fold to global developments suggest Janet and her merry men (and women) are far more concerned than they have been at the state of the US economy and the world. With reporters under duress to ask the right questions, we can only hope that someone has the stones to ask Yellen when, if ever, they will admit their total impotence and just how cornered they really are...
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"We own $3T in bonds. We say we will raise rates but simply can't. Now I'll take some questions."
Fed: Profiles in Cowardice. Wall Street lackeys.
Big shocker. I have no idea why anyone thought they would raise rates right now.
Bennet Yellanke
http://www.freakingnews.com/pictures/112000/Janet-Yellen-Ben-Bernanke-s-Wife-112419.jpg
WARNING: Not for the faint of heart.
Please wait patience while Boris is put on face of utter surprisement that Federal Reserve is not increase for Interest Rates. This is purest form of theatrical enterprise, Duration Mismatch is forever embed in US and other international currency (except for PMs) and until utter dissolution of fiat currency, this is end game. All that is left is all out war, not if, but is when!
... but what is Boris know?
so in other words the jumbo insolvent CRIMINAL banks intentionally crashed the markets this past month, like they did in the Fall of 2008, and the FED caved again like the fuckin pussies they are... kabuki theater 101.
Intentional is what I used to believe. Now I just think these ass clowns know absolutely jack shit and are just winging it.
Devious bankster is empowering by perpetually surprise analyst.
A DUH! They can keep this shit going for decades. I'm only amazed how many people acrually thought they would raise rates. As long as normalizing rates will create a further depression, they can't raise rates. Prepare to wait a loooooong time for a 5% CD.
Based on the past 7 years there is absolutely no reason for them to meet as often as they do.
Their meeting just create volatility. They should change to meet bi-annually.
I once dated Mr Market and found him to be an unbearable bore!
.
Didn't like how ya' got bored, aye?
Regards,
Cooter
Speaking of Mr. Market, wasn't he supposed to get a woody on this news? Suddenly a flat day is heading negative...
Yellen: "Frankly, I am afraid of nailguns".
Wage growth remains subdued....HAHAHAHAHA ..who writes this shit. Inflation remains below 2%. HAHAHAHAHA Go to Costco and get 4 Steaks. $68.00 Shit food is cheap...try eating the real thing. 1/2 gallon of Milk yesterday at shit mart (Wal-Mart) $4.76. Organic of course...not the Round Up steroided shit.
HOLD ON EDIT...I just heard her say inflation will be low due to energy costs such as gas?? When gas is going through the roof they would back that figure out? Now they throw energy back in? Am I missing something?
(REal) Food prices are absolutely ridiculous.
~120 bucks a week for an adult male here. That's just grocery store food, not even including the couple of times a week I eat out...at a restaurant.
Inflation is non existent for the banker class....they made enough money on todays stock market swings to fine dine-out the rest of this year.
Fuckin Liesman gets to ask the first question again....and it was obvious that it was a planned question because that bitch Yellen wasnt stuttering as much.
Holy fuck all these questions. These reporters in kindergarten??
Actually, it is nonexistent for the government class. The government, of all people cannot afford any rise in interest rates with $19T in debt and a whole lot of it is rolled over short term stuff. Most analyses show a 2 percent rise in rates puts Uncle Sam in bankruptcy. So, Yellen or any Fed has only a very narrow range or window of rates to play with no matter what. They will actually have to follow the market if things ever break out.
My bet is a one point, 100bp is the top of their window over any short term and of course only .25 to low end, which is just a for-show rate anyway.
The Fed's unwritten primary mission is to keep the government solvent. It can play with the economy a little, but the top priority will always be government and the current elected officials.
Yeah that shit made me laugh. Pick up a freezer and go to a local butcher/meat market etc, 60lb variety of meat is less than $200 (at least here in Dallas/Fort Worth) beats the hell out of Costco.
Yeah that shit made me laugh. Pick up a freezer and go to a local butcher/meat market etc, 60lb variety of meat is less than $200 (at least here in Dallas/Fort Worth) beats the hell out of Costco.
No you are right, they adjust CPI/inflation as it fits their "narrative"
The Fed has "controlled" monetary policy for a century now. During that time there has been an endless series of booms and busts. Why shouldn't we fire you?
They completed the FED financed and theorized HyperLoop, and not longer have risk or physics effects. The markets exist now outside of the real world. There is no friction, there is no gravity. The FED are control of the horizontal and vertical.... Keeping this inception going.
"Those economic swings would have been much worse had no controlling intervention been in place. Thank you for your question. Now, Moose and Rocco will show you out."
Hey!!! No need for a headlock! Motherf- Don't taze me bro!!!
Moose an Rocco, or is it Moose and Squirrel?
Because they are transitory.
See this gold necklace I'm wearing? This is your only way out. Watch what I do not what I say.
Steve Liesman...first question. Steve I know your reading this thread later...FUCK YOU!
What the hell is that thing?? some type of albino oompa loompa!
What is that thing?
Someone called her a munchkin, i lost it.
If you squint, it's apparent. she's a Morloch.
Harlot of Babylon(g). Going for new records daily.
My progenitors are Golem and Keynes, thank you very much!
Bernanke would have killed to have the comb over that Yellen sports.
I think its a retro-refined Beatled Mop Top. Everyone forgot what they look like.
http://www.menshairblog.com/mop-top-hairstyle-haircut-style-how-to/
Maybe she never evolved since the early 1960's ?
The Beatles’ band member Sir James Paul McCartney (aka Paul McCartney) sported a Mop Top during the early ’60s and the ladies were throwing their panties at him.
You mean Billy Shears? And that they paid girls to attend, scream AND throw panties? Of course once the first few did it, it became all the rage. Such is social conditioning.
Now keep smoking those freedom torches!
Sir Paul McCartney?
I'm sute you can count on him to defend the realm.
Elton John, too...when the goin' gets tough.
It is a wig and I have it cut that way to fit under the helmet so I can drive my scooter.
I think if you put makeup on a blobfish you'd come awfully close to Yellen.
doesn't matter...they're going to put it through during an election year, when the obvious winner is the Party not in power
OLD MEXICAN PRESIDENTIAL-TRANSITION TRICK: LET LOOSE THE SHIT SO THE 99% WILL 'TAKE HEART' AND KNOW THE NEW GUY WILL DO BETTER.
IT FUCKING WORKS EVERYTIME IT WAS USED.
Look at that face!
She's like a portly Andy Warhol
Since ZH is my new "go to for the real info" it's only fair to watch it here...cya,Bloomburg,CNBC,etc,etc
sounds like someone got tired of looking dow & too the left everytime someone asked them if shit was ok and they had their orders to say "yes"
coming out of denial is step #1
China and Greece aren't "recent developments".
The emerging markets might be impacted by no growth or negative growth going forward.
If Europen immigration is any indicator, then Brazil and Argentina will move to Mexico and then USA.
China will move to Hawaii and California.
India and SA will stay put.
Some countries will devolve and go aborigine.
Without any source of income many will just go somewhere else to live.
That may break the camel's back eventually...all those empty shipping containers and cargo ships...hmmm, going somewhere (else) with human cargo.
the fed is the king and the only way a king is removed is by force. never by willingly stepping down.
who will challenge them. NO ONE in the next 20 years.
Bernie Sanders
I do not think Sanders understands Marx well enough to go after the Fed with a vengeance. The left by associate with the "liberals" in America has been smoking finance crack for a long time now.
Sanders showed his true colors by refusing to go alone with a Fed audit.
BitCoin is a start. It may not work this time, but the idea is sound. Think Wikipedia vs Encyclopedias. This is how it's done.
blah, blah, blah...
not a dove, not a hawk, but a peacock
I'm a peacock, Captain! You gotta let me fly!
Shemitah! !! I guess we'll wait and postpone rate increase after the last blood moon on 9/23/15. Going back to sleep now...
Open mouth....Remove all doubt.
Muchkin. . lol. spit up and ruined another keyboard.
Did anyone explain the logic of why ZIRP is still being done - at all?
I mean, there was a reason why it got to those levels.
Is the logic of why it is continuing there the exact same reason, still?
Yes or No?
If Yes, why?
If No, why?
Please explain -->
Well, all the reasons I heard were for financial stability of markets and the Fed's mandate of reducing unemployment. Since these criteria appear to have been met, one would have expected a rate increase. Now it seems there is a future worry of market instability stemming from China and a goal of 2% inflation before a rate hike will be initialized. In other words, let's just make up some more pathetic excuses based on massaged numbers to get what we want.
For a less logical assessment, why does a dog like his balls? Because he can.
Miffed;-)
Alternatively the TBTF bank basement dungeons are overflowing with starving toxic zombie assets and the moment rates rise they'll hit the streets and your screen door is not going to hold them.
I'm open to other explanations. ;-)
Because pigs wanted to keep their unearned income and squealed so loudly that the Fed decided to take the Japan route for 50 years. Everyone is being forced to put up with the stench while that giant pile of fraudulent shit is inflated with the miniscule excess spun off of a fully globalized planet.
They're targeting inflation, which many people said wouldn't work. They're ignoring it where they see it (housing, food, until recently fuel) and fixating on where they don't (wages). They're also changing the criteria for a hike every time those criteria indicate that they should while the MSM cheerleads every non-action and massaged data point.
tl;dr - the emperor has no clothes and they're hoping to get him dressed before anyone who can't be labeled a conspiracy theorist calls them on it. Worse, if "the market" realizes how truly out of control they are, all of this can kicking will make the inevitable correction worse.
Maximun employment? I guess the FED now has a global stability mandate. the ENTIRE WORLD must be employed before they normalize.
I always trust chosen bankers. /sarc
Its so awesome to see the autistic get so far in central planning. There is hope for the future.
there is only one reason
Because Janet saw her shadow.
six more years of winter
"We were gonna hke, really. we were"
"It was the damned gooks. They swore those malls and hi-rises were full "
We're in a collapse.
There's still food at the grocery store. There's still gasoline at the pumps. Airplanes are still taking off and landing.
Go outside.
Deflationary spriral until the cost of getting Oil and commodities gets so low the producers go bankrupt and stop producing.
Then there will be 5 billion or so developed market citizens scrambling for gas and fresh water.
If mining and pumping Oil are not profitable they will stop and then prices will skyrocket (hyperinflation).
So the deflationary spiral will then lead to major companies and markets stopping, and then a hyperinflation.
Tell me the cost.
I'll print or authorize it.
Bernapke's kin have left VA
They reside in Skillman NJ as of 3 years my last investigation into his douchey wherabouts
Near Johnson and Johnson HQ
The rest is up to you dear readers,I cannot deliver lead from this distance.
Montgomery townshit to be precise
narrow it down
Store gazzoline and fire for FUCKIN EFFECT
nothing says hello like a fuckin firebomb
SHUT THE FUCK UP !!! YOU LIE !!!!!!
"... She'll not take it any more, Captain ! ..."
I'd like to wipe that stupid shemitah off her face.
It was a 9 to 1 vote to keep interest rates the same - not even a close call. Interest rates will remain at zero - until they decide to take them negative.
"To QE Infinity and Beyond!"
Inflation? I like lower prices, not higher prices.
But they can't tax the value you save on the discount. And that my friend, they absolutely cannot have!
It's not chickening out. The Fed can't raise rates without pricking the giant debt-fueled bubble and they know it.
It's obvious she hasn't got any more of a clue than the Eccles Building janitors.
BURN!
Hey, how's that supena coming?
Has LIESman starting tonguing Yellen's rotten cunt yet
What a charade! Free the markets! End the Fed! http://endthefed.org/
I called this pantomine correct again. The FED was never going to raise rates and if they were, the 500 would be given at least a 3-6 months heads up, in a futile attempt to get their houses in order. Plus the FED mounth-pieces like Jon Hilsenrath et al, never alluded to a rate rise.
This is kinda awesome because it shows that the FED is completely irrelevant because they can't/won't make the needed decisions. This is only going to exacerbate the problem and make the eventual equities rush for the exits and bond market havoc more spectacular. Raising in 2015 was the last chance for the FED to have even a shred of credibility in many peoples eyes. Now that it is universally accepted that a rate raise will never be more than talk, you're going to see a decoupling of markets from any and all FEDspeak. ZIRP until the reset must now be fully accepted by any and every remotely rational market actor. And the fact is that they all know unending ZIRP is NOT the sign of a healthy economy.
The FED is now forcing markets to look at the ugly mess it has wrought. No more hope of a rate raise or change in outlook. The shit you see is the shit you shall have. With no hawkish forward guidance to be had today the FED seems to have setup the mother of all corrections that those who got what they wanted in no raise are so afraid of.
Federal Reserve 1913-2015, RIP :-)
Why are you Yellen, we can fuckin hear you.
Is everyone sure Yellen isn't just Woody Allen in drag?
The USSR (remember them) tried to control their econommy with 5 year plans. Why does the FED think they can succeed when history shows otherwise?
10 fuckin years no interest.
Ms.Mr.Janet Yellin your fuckhole be smelling.
I intentd to log back in I wish someone would reply via message,check my last one too bad I live 1300 miles from these cunts I demand it is time for some of our country possesed by fear addicted to TV and credit freakin do something.
I do not care that Chealsea Clinton has become 6& less ugluier.
Next Prezznital applicannt END SECRET SERVUS PROTECTION
These diobolical bastards need to be started thinned out.
PEACE BE UNTO YOU
FIRE FOR EFFECT
Looks like several ounces of gold in that necklace.
Kudos Kim Davidson from WSJ for asking about the leak investigation. Doubt she'll be back though. Yellen took forever answering the first part hoping everyone would forget she was even asked. FUCK YOU YELLEN!
Yes, and her name was written down. And it seemed she tried to followup after Yellen's "answer" but was cut off.
Yellen just pretended she was never asked about it. almost turned the presser off there, but the final straw was her saying in response to the income inequality question is "all easy monetary policy does is create jobs."
She admitted that the "current" (i.e., doctored) formula used to measure unemployment understates the "slack" in the labor market. SO WHY DO THEY CONTINUE TO USE IT??? Wasn't understating the "slack" in the labor market the reason they eliminated the long-term unemployed from the equation in the first place???
Election year coming up and you can't say out loud there is 12 percent unemployment.
Using an even older model... The one now used by Shadow Stats... It peaked at 23% and has since stayed there,
Ok then. Back to my prepping.
yes. So far it looks like a deflationary spiral and the Emerging Markets (perhaps 3 Billion people), will be moving to their new cities and countries soon...perhaps in your backyard or neighbors ! When EM crash completely due to lack of funding and zero rate commodities, they will move.
See how middle east is moving to Europe the last few months ?
All of South America will move to North America...etc.
Soon.
"No rate hike, but Fed expects one by year-end"
That's the headline. Sure. "Just give us one more quarter and everything with be great..."
In reality, with EMs crashing hard due to crashed demand from a crashing China (and I'm not talking about just their relatively unimportant equities "market"), currency devaluations started and to increase as "the race for the bottom" accelerates, this was as close to an opportunity as they'll get for a rate increase for a very, very long time.
Fed stands pat, stocks rally. It's pretty obvious where they would be if the short term rates would have been increased.
Wrong site of the mike !!!
Stupid "journalists", yeah right.
19,433 employees and a $1,224,818,438 payroll to produce this blah, blah? The Fed is a fucking jobs program.
Has this idiot given an actual answer to one damn question?
No, not a fucking one.
Asks about negative interest rates while she writes his name on the nail gun list.
Thanks for nothing Janet...
Nothing, you .?....ughhh...
I took a screenshot of the local coin shop begging to BUY silver eagles at $2.50 above spot. I'm not selling. Carry on.
Did anyone notice the line, "Yellen: Did not seriously consider negative rates"
In other words, THEY DID today already talk about what QE4 will be.
Janet and her tribe are cunning swindlers, operating against the health and sincerity of America. Their game is to wheedle unsophisticated workers and savers and 401K owners into speculation and to then fleece them or destroy their purchasing power via ZIRP. They have attacked innocent Americans and their estates for nine long years, nay 15 years, and are now getting the entire world on its seats to watch this momentous decision on whether to raise rates one hundred thousandth of an inch. And, then, only to broadcast that the savers and the sound money people have not yet suffered enough, pushing them further under water, calculating the owners of the Fed still have a few months left speculatin’, careful always to get the other fellow to take the risks while protecting their own using the Fed as their personal free-money ATM.
It’s time for Americans to buck the Fed and take our country back – while there’s still something to take back -- from the international bankers.
ABOLISH THE FED.
Earlier today, David Stockman said that the typical consumer is "tapped out" and keeping interest rates at historical seven lows means nothing to them because they are not buying, but rather paying down debt if able to. I agree 100%. Yellen mentioned strong consumer spending. I DO NOT see this at all with anyone I talk with! Nobody! I guess Yellen and her FOMC buddies come up with this based on how many of them intend to increase their household spending by trading in their 2015 leased Lexus, Mercedes, Infinities, etc for a new lease on a 2016 model. These f*ckers are very far out of touch, but still run monetary policy based on their interpretation of the economy. Amazing.
The Fed fix is to take away from Main Street and give to Wall Street. I don’t see how honest people can miss this story.
“We must not forget that the phrase ‘lender of last resort’ means that money is created out of nothing, resulting in confiscation of our nation's wealth through the hidden tax called inflation.” —G. Edward Griffin
Sir Josiah Stamp, president of the Bank of England and the second richest man in Britain in the 1920s: “The modern banking system manufactures money out of nothing. The process is perhaps the most astounding piece of sleight of hand that was ever invented. Banking was conceived in inequity and born in sin. Bankers own the earth. Take it away from them but leave them the power to create money, and with a flick a pen, they will create enough money to buy it back again. Take this great power away from them and all great fortunes like mine will disappear, for then this would be a better and happier world to live in. But if you want to continue to be the slaves of bankers and pay the cost of your own slavery, then let bankers continue to create money and control credit.” (Speaking at the University of Texas, 1927)
Professor Werner Sombart, a German economist and sociologist, in his work Die Juden und das Wirtschaftsleben (The Jews and Modern Capitalism) sums up today’s situation as he did Europe’s in 1911:
“If we want to make clear in one sentence the direction in which the modern political economy is moving we can say: the stock-exchange agents of the banks are becoming an ever-increasing measure the dictators of economic life. All economic happenings are more and more subordinate to the decisions of finance. The question whether a new industrial undertaking is to spring up or an existing one to be developed; whether the owner of a shop or a store is to get the means to extend his business, all these questions are decided in the offices of Banks and Bankers.
“In just the same way the sale of products is becoming, in an ever greater degree, a problem of finance. Our greatest industries are indeed already just as much financial associations as industrial undertakings...these groups, being internationally organized, have only to be left free in order to dominate the earth.”
Griffin summed up the America’s plight:
“”It is human nature for men to place personal priorities ahead of all others…to benefit at the expense of their neighbors if the occasion is placed squarely before them… A managed economy presents men with precisely that kind of opportunity. The power to create and extinguish the nation’s money supply provides unlimited potential for personal gain. Throughout history the granting of that power has been justified as being necessary to protect the public, but the results have always been the opposite. It has been used against the public and for the personal gain of those who control. When men are entrusted with the power to control the money supply, they will eventually use that power to confiscate the wealth of their neighbors.”
Every answer begins with,"so". Every answer ends with "(Whispers to trainer),what the fuck did I just say?"
Another gem:
"A recent paper has concluded that Fed policy does not affect income inequality."
I'm convinced.
Ahh, clever word games from people who like to play them.
Fed policy does not affect income inequality.
But fed action does.
Cunning little sociopathic vermin.
what just happened to the rampfest? hard nose dive into the close?
Stupid spell-check for today's bankster scheme didn't catch 'dump' when the author meant 'pump' - so only half the team got the memo.
Thank God that's over.
Old Yeller's repressed Democrat leaking out when asked about Congresscritters was cute.
She got to get to her cave before the sun hits her.
Do you think the reporters really believe her bullshit...
or do they just play along to get invited back to the next news conference?
So I guess they are not completely insane, just total cowards ..
Which is also the same to state, as Jim Rogers, they are totally incompetent ..
So, would we rather have insanity or incompetence?
This looks to be a parallel, but much larger scale microcosm of the case between Lee Wanta and his court appointed defense lawyer; Mr. Chavez ..
Q: Why did Mr. Chavez cut himself off?
https://app.box.com/s/hfgvcqg7gqh7i27at6sv53ywu87lwarp
Why cannot Yellen admit the real reason why there can be no rate hike?
Exhibit A:
2008:
Box of 16 oz. Cap'n Crunch -- $2.99
2015:
Box of 14 oz. Cap'n Crunch -- $2.99
2018:
Box of 12 oz. Cap'n Crunch -- $2.99
Roll out 150% LTVs with no recourse biaaatch!
Been say,n for 3+ years that it'll be QE to infinity until "the fat lady [Yellen] sings/squeels/yelps". Be interesting to see if "It" [Yellen] gets to be the corner rat[tress] to get mashed.
Casualties of FED ZIRP; Pension funds need 8% returns to keep the Pension-Ponzi-Schemes going. The insurance industry is getting Butt-Fucked, due to low interest returns and is forced into ever increasing riskier investments to generate those returns and last but not least, is the good old-fashioned home-owner like you and me. Drunk on the elixir of low mortgage rates, thinking life is great, without realising we are losing out 3-fold.
And who said joined up thinking by the middle class retards wasn't dead? Did any of the GOP candidates even address any of these fundamentals in the debate? NO! Too busy kissing the AIPAC ring of treason, and swearing allegiance on TV to Israel. TRAITORS!