Yellen Responds To Trump

Tyler Durden's picture

The one question everyone was waiting for at today's Yellen presser, namely the accusation by Donald Trump that the Fed is keeping rates low to prevent a market crash and make Hillary's reelection easier,   came moments ago from the WSJ's Jon Hilsenrath who said "Donald Trump has charged that the feds are keeping interest rates intentionally low for the Obama administration."

Her response:  

"Well, I think Congress very wisely established the Federal Reserve is an independent agency. In order to insulate monetary policy from short-term political pressures and I can say, emphatically that partisan politics plays no role in our decisions about the appropriate stance of monetary policy. We are trying to decide what the best policy is to foster price stability and maximum employment and to manage the variety of risks that we see is affecting the outlook. We do not discuss politics at our meetings and we do not take politics into account in our decisions. As I said, we're generally pleased with the progress of the economy and the decision not to raise rates today and to wait for some further evidence, we're continuing on this course, is largely based on the judgment that we're not seeing evidence that the economy is overheating and that we are seeing evidence that people are being drawn in in larger numbers that at least I would have expected into the labor market, and that that's healthy to continue. But that nevertheless, we do need to be forward-looking and if we continue along this course, it likely will be appropriate to raise the federal funds rate."

Putting it another way, as the FOMC statement inexplicably stated:

"The Committee judges that the case for an increase in the federal funds rate has strengthened but decided, for the time being, to wait for further evidence of continued progress toward its objectives."

"The time being", of course, is that until after the election. In other words, Trump may well have been right, again.

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VWAndy's picture

 They care not who makes the laws.

knukles's picture

Let me be the first to call Bullshit
Everything in DC is Politics

SomethingSomethingDarkSide's picture

YELLEN WANTS MORE SCOPE TO GO BELOW 0%

She doesn't have legal authority yet!!!

jcaz's picture

Fed meeting ARE politics, you dumb bitch- they sure as shit ain't financial;

Now your AA meetings are another story.....

strannick's picture

The Federal Reserve. Independent of Congress, beholden to its Bankster shareholders.

"Give me control of a nations currency and I care not who makes its laws"

ParkAveFlasher's picture

"Oh brudder, is it dayt Trump feller again?"  - woman in charge of trillions

auricle's picture

Of course you don't discuss politics at your meetings. Those questions were asked and answered before any FOMC member got their job.

Mr. Bones's picture

It's simple really, if the economy is doing well why haven't rates normalized?

Certainly we've had periods of prosperity in the past that weren't defined by an effective rate of 0 - why not now?

eatthebanksters's picture

I know someone on the inside who would say that's a lie.

oops's picture

Where on earth do they dredge up these idiotic Fed Chairs?
https://goo.gl/bFYusM

HopefulCynical's picture

"Well, I think Congress very wisely established the Federal Reserve is an independent agency."

If by "wisely," you mean "criminally and unconstitutionally," then I agree.

auricle's picture

The lines have been drawn. Gold will continue to climb, and Janet has just whittingly set the fuse on a market decine should the 'political' trump make the highchair. November this the boom month. 

SDShack's picture

If Htilery continues to implode, and Trump rise (especially after the debates), I predict that Fed will telegraph to everyone that rates are going up to force a major market correction BEFORE the election. It really is all they have left to try to stop Trump at that point. Then they and their media can all say "Look, Trump isn't even president and already his radical views are causing the economy to implode!" The closer to the election, the better. That way the lamestream media can further damage Trump and insulate 0zer0 from any blame. Then if by some miracle Trump is still elected, then they will have to tank the market and economy early next year either by actually raising rates, or some false flag. They will do this to punish the people for refusing to approve the NWO and cause the sheeple so much pain that they will blame Trump and this will either force Trump to change course, or get the spineless congress to oppose him on everything... even if that means impeaching him, which even many RINOs would gladly go along with.

They have to go this route because they have to stop the nationalist contagion from spreading any further. First it was Brexit. Then if Trump wins, it will empower Le Pen in France in their elections in early 2017, and should France flip from the NWO that will make it almost impossible for Merkel to survive elections in late 2017. If Britain, US, France and Germany stop the NWO advance, then the only country left to continue it is Japan, and Japan has been in the death spiral the longest, going back to at least 2000 so there is no hope for them. This literally is a struggle to the death, and the Sociopath Oligarchs will stop at NOTHING to achieve their New Feudal World Order. They have to stop Trump either before, or soon after the election to prevent the Nationalist movements from getting any traction, or worse yet for the oligarchs... work with Russia and China to stop these insane empire conflicts that only benefit the oligarchs. Plan accordingly.

tricorn teacup's picture

I'm not seeing how to get there from here without a very painful reset, but it would be nice if we had a precious metal backed currency that didn't need a monopoly on who could issue it.

nyse's picture

Just like they dont "check the price of gold first thing in the morning"

wildbad's picture

stabilizing the currency?  creating jobs?

are those really their objectives?   how are they doing so far?  how much buying power has the dollar lost since the private FEDs inception?  what exactly is their job creation mechanism?

doesn't it make more sense that they are REALLY in business just to skim off trillions with their monopoly on creating money out of thin air and to increase the profits of their private banker OWNERS?

i think so.

Rage Against Your Face's picture

They were well aware that massive asset purchases would damage job growth "I think we have to be careful that we're not perceived as basically providing facilities to prop up institutions that are too big to fail at the expense of the institutions that desire to grow".

MEFOBILLS's picture

For a little cognitive dissonance, compare Yellen and FED to Sergey Glazev of Russia (who advises Putin).

 

https://southfront.org/discussing-russias-economy/

 

Guess which economy will eventually win....

Space Ghost's picture

Trump should cock slap this bitch Yellen in the face but I would advise him to becareful because she looks like a fucking rodent and could get in trouble for beastiality 

Cognitive Dissonance's picture

Yellen says they do not discuss politics at the meetings. That's because it is discussed before and after the meetings. A conspiracy does not need to be verbalized to be a conspiracy.

Beam Me Up Scotty's picture

It's all about semantics. It depends on what the meaning of IS is.

Cognitive Dissonance's picture

Yes. And the meeting minutes are an accurate and complete transcript of everything said at the meetings. Honest.

greenskeeper carl's picture

And there is no possible way that they would alter their policies to help a known ally of the status quo in order to prevent the rise of someone who has repeatedly criticized them, or implied that they would be out of a job off he was elected.

HopefulCynical's picture

It's all about semantics.

You're very close.

rosiescenario's picture

.....very nice.....wish I could give you more up arrows for that.....

Beam Me Up Scotty's picture

Wait until they start buying stawks as we run up to the election, and power the "markets" to new all time highs!! That will be the sign they are going all in for Illary.

HopefulCynical's picture

I do not believe it will work. The story about Trump raising $100 mil from small donors was the most revealing data point I've seen yet. The corporate news media is bending over backward to rig the polls to show a dead heat/Hillary advantage. It's quite possible that even Diebold can't steal this one, at least not without touching off a full blown armed uprising.

edotabin's picture

Are they impartial like Supreme Court judges? Remember Ginsberg's comments?

SmedleyButlersGhost's picture

I'm guessing you meant to say ... with the exception of the SCOTUS.- especially now that we have a Constitutional scholar as Pres.  Please now picture me with a bottle in my right hand balanced on the rim of the head, left hand wrapped around under the rim,  puking til I lose some stomach lining. Oh and then taking a sip to steady myself.

Phat Stax's picture

That may be factually true.  But if you're a hard-left liberal hailing from San Francisco, you know what your task must be.  No words need be exchanged.

Kidbuck's picture

I see no intent anywhere on her person. Of course the lying sack of shit, by her own admission, is stealing 2 percent of my purchasing power every year.

Penetration, no matter how slight, is still rape. - the Uniform Code of Military Justice.

adanata's picture

 

Well... They make the 'laws' as well as the free 'money'; best of all possible worlds, eh?

Is it just me or does Yellen look like an old chipmunk?

Toronto Kid's picture

They don't care about politics?? They don't care about economics either.

larz's picture

So that meeting a few months ago with Obamf@@k was apolitical?  Are we idiots!!???

knukles's picture

So we ran all the sales and purchases through Goldman

ParkAveFlasher's picture

That link is tenuous, in fact, paper thin.

hedgeless_horseman's picture

 

Who are you going to believe, the Fed Chairman testifying to the US Congress while under oath, or your lying eyes?

jakesdad's picture

hey, that blood funnel's gotta jab something...

Jethro's picture

...."But before and after our meetings....not so much! Oy Vey!"

SmedleyButlersGhost's picture

And we wear these little hats without brims to make sure that our thoughts are correct.  Yeah - I'm going there

SmedleyButlersGhost's picture

Oy - so your cousin Shmuel is sellink insurance for Allianz. Can he get it for me at wholesale?

Stuck on Zero's picture

They don't discuss politics at the Fed.

They do discuss politics at the club.

 

Squid Viscous's picture

zyklon-b works every time