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Yellen Faces Lawmakers In Testimony To House Committee - Live Feed
In one of four speaking appearances by high profile Fed officials on Wednesday, Donald Trump's favorite "politicized" central planner Janet Yellen is set to testify before the House Financial Services Committee this morning.
The "vaunted" Fed chair will be discussing banking regulation which means that while we might not get a whole lot in the way of commentary on monetary policy they'll probably be all sorts of amusing soundbites about the TBTF cabal from its biggest champion - the FOMC.
Then again, given the scrutiny on the December meeting, one might expect that lawmakers, not wanting to miss a rare opportunity to grill someone who is generally above the law, will take a few pot shots on the economy and interest rates and maybe even on the now infamous "leak". Indeed, here's what Jeb Hensarling (committee chair and the ringleader of the leak investigation) had to say late last month about today's proceedings:
“Dodd-Frank’s massive expansion of the Federal Reserve’s authority has made the Fed America’s most powerful regulatory agency as well as our nation’s central bank. President Obama’s inability or unwillingness to fulfill this requirement of Dodd-Frank and appoint a Vice Chair for Supervision deprives Congress of an important opportunity to conduct effective oversight and hold the Fed accountable. That’s simply unacceptable. Until the president appoints someone, we will have Chair Yellen testify and answer our questions.”
(live feed)
A bit of color from WaPo for what it's worth:
Federal Reserve Chair Janet Yellen will be in the hot seat on Capitol Hill on Wednesday, ostensibly to testify before the House Financial Services committee about the regulation and supervision of the nation’s biggest banks.
But looming over her appearance is the committee’s contentious probe into a three-year-old leak of sensitive economic information at the central bank. Late last week, the Fed handed over 3,796 pages of documents to lawmakers in response to a subpoena issued in May. A spokesman for the committee says it is reviewing the materials and raised questions about the the Fed’s handling of the breach.
“Our committee noted serious procedural problems with the Fed’s investigation,” spokesman Jeff Emerson said.
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Yellen Faces Lawmakers In Testimony To House Committee - Live FeedI really don't give a fuck..
Please to visit Boris on Twitter!
http://twitter.com/borisalatovkrap
Is find archival photo of The Bernanke show same contempt for empty suit in U.S.S.A. Congress. Boris would post on Zero Hedge, but is not know instruction for posting of graphic image on ZH!
Is she there to negotiate their post public service speaking fees?
You should because PM's will get smashed at the same time. Her speech will have a lot to do with your investments tanking. I certinetly care what she has to say because of that fact.
My caring has no impact on the outcome..Let her bloviate..
what will she say?
why are people Believing that they will raise rates?
Will the Dow hit 20,000 Before Christmas?
Will i still have a Job by then?
" We Phucked some folks. "
~ Yellen, Congressional Testimony November 4, 2016
The only thing I want her to face involves 7-guys and a last cigarette
Bukkake?
Will she choke on the lies again?
Will she explain why savers are punished and borrowers are rewarded by Fed decisions?
Will she expalin to retirees that non historical rates, rates never before seen, are now what they have to live with?
Will she explain that low rates can boost spending for a while, then the credit cards get maxed out and then a problem develops?
Will she explain that the Fed's low interest rate policy isnt responsible for the deficit increasing $1billion a year? Though 8 years of ZIRP and the 8 Trillion
line up perfectly?
I heard that this week she's gonna explode.
JJ, at least health insurance premiums are only rising 33% next year for most people [even though many doctors still refuse to accept Obamacare plan insurance].
house committee - "thanks for enriching our stock portfolios! we appreciate it even if you had to steal to do it! whatever it it takes ms yellen! we have no more questions for now. you aren't the droid we are looking for, move along, move along. we apologize to you for this intense grilling"
Just tell us before it happens, or right after you tell Goldman Sachs
Don't you mean right after Goldman tells her?
Yawn, What a freaking circus. Its a big fucking club and you aint in it.
Janet is an old women, which is quite convenient for the government.
She will retire next year, health reasons, and end her golden years like Ronald Reagen, with alzhiemers disease.
Even if it's not true, like all here bullshit, that will be the storyline.
Save me the video feed!...
Next time you make an announcement with her giving a speech I want to see what happened to her in Boston only this time collapsed underneath the podium mumbling incoherently without familar words!!!
A dog and pony show. Grandstanding by the politicians. Just sickening.
Fed is going to do more QE/printing. Monetize debt. Anything to boost stocks. What else is there to say.
If I am sitting here trying to jack off, fantasizing about Yellen reading from Penthouse Forum. Her voice is just dreamy.
I can see why Obama likes her. When she talks to him, it just drones and drones. After their meetings, he has such a drone hardon, he has to blow up a wedding somewhere.
I don't know why but I found that very funny!
DavidC
Fuck you, you old cunt!
The only "hot seat" I'd like to see Janet and Ben on, is one with 50,000 volts flowing through it.
SIZZZZZZZZLER!
Yeah, let's give a doddering old blue-hair full control over the nation's currency. If that isn't insane enough for you, let's give the Fed oversight powers to the very banks that are its owners!
Fucking insane.
Listen to her stumble when asked if the Fed members have attended Bank Board Meetings. It's all for show.
Bullish.
Hang her for treason. Today. Right now. Otherwise we are just wasting our time. It's as simple as that. I'm too much of a pussy to do it. And it looks like everyone else is as well.
Why is the FED stealing from savers and small businesses that rely on market interest rates being paid on their deposits? Interest income is generally disposable income. Interest income is not the principle. That is why most interest income is spent very quickly increasing the velocity of money and the strength of our economy.
This free money ZIRP is nothing but theft from everyone, as the public debt increases and inflation increases everywhere it can. No matter what, if prosperity returns, the benefit of it now will all go toward paying down the many levels of debt.
Savers and small businesses are the backbone of our economy. The FED is not the backbone of anything.
It's Barak Obama's backbone.
Ask Janet Yellen directly:
Does the Federal Reserve buy stocks ?
No. You must be more specific.
Do they buy stocks, stock index futures....and through whom and in what amounts and by whose decision?
VIX-inspired short ambush attempt on low Fed liquidity, could be just a move to take out the highs, but any post-open shorts are advised to duck 'n' cover as the algos slap each other silly
Noise. The imagery of doing something, saying something, without doing anything of substance.
Is it true the Fed must pretend to raise rates but never actually raise rates?
"Federal Reserve Chair Janet Yellen will be in the hot seat on Capitol Hill"
~Complete and utter bullshit! Congress is a total fucking sick ass joke.
They could stop this shit, they could demand an audit, they could abolish the un-fed.
They will do none of these things, it is a lousy dog & pony show, that means absolutly nothing!
Fuck every single last one of these sons of bitches! And you also Jack Yellen!
Having her arse kissed is more accurate. The suncommitee is tossing her salad because they are all prisoners of her regime. If any speak out they will warrant a death sentence from her kabal.
That Garrett dude just mushroom stamped that old skank on the stream
lmao and now we got that Mr. Sherman recommanding that we raise rate according to seasons.
Is Yellen a dual Israeli citizen?
She's Dutch, not Israeli. She was the kid in the Dutch Boy paint ads.
Why would she not have her Israeli passport? She is a Yenta right?
This hag talks like she has a gerbil in her mouth
white noise
I was hoping she would take the 5th like Lerner did
At least, "if you want to keep your health insurance, you can keep your health insurance."
I have an idea...vote them allllllllllllllllllllllll out!
Yellen such a fucking joke.End the fed and audit the assholes.
Here we have an organization that either prints moar or not. Requires PhD's?
And testifying to con-gress. lol,,, one bunch of liar's lying to other liar's.
Why are Democrats always all over Yellen's nuts, whereas the Republicans tend to be anti fed and put the feds nuts over the fire. Not political my ASS.
" Late last week, the Fed handed over 3,796 pages of documents to lawmakers in response to a subpoena issued in May. A spokesman for the committee says it is reviewing the materials and raised questions about the the Fed’s handling of the breach."
Can read 3,796 pages of BS,,, But Con-gress didn't have time to read 342 pages of the so called Patriot Act.
I've developed an allergy to this sort of unvarnished bullshit.
I'm not watching video of that wizened old hebe unless she strokes completely out.