On July 15th 2014, The Federal Reserve uttered the following warning to exuberant equity investors, "Valuation metrics in some sectors do appear substantially stretched -- particularly those for smaller firms in the social-media and biotechnology industries." 5 months later, Yellen Capital LP is half right... Show More Summary
(Photo: Ervins Strauhmanis) What's keeping the juice flowing to your Xbox? If you live in Philadelphia, then it may be paper money burned at power plants--literally. When the Federal Reserve office in that city takes banknotes out of circulation, it burns whatever it can't recycle. Show More Summary
What happens to old paper money that's too worn out to be used? It's often recycled and made into everything from dog beds to packing materials. But the Philadelphia Federal Reserve office does something even more unique: They send the old currency to local power plants, where it's burned for electricity. Read more...
Here's a little Christmas fun from the Gold Standard Institute. Who needs Santa to bring us presents, when we have the Fed?
That's right, he complains that Elizabeth Warren opposed Larry Summers' nomination for Federal Reserve Board chair even though he played a central role in designing the policies that led to the housing bubble and the subsequent collapse. Show More Summary
Nothing says Christmas quite like songs about the Federal Reserve and TSA pat-downs. With this in mind, here are three classic holiday treats from Remy and Reason TV. "Remy: Grandma Got Indefinitely Detained (A Very TSA Christmas)" was originally released on Dec. Show More Summary
Dear Federal Reserve: As we approach your last get together of the year I first want to wish you all great holidays and a happy and healthy new year. I also want to extend my utmost respect for the time you have given to public service in your contribution of what is the Federal Reserve...Read More
Sen. Sherrod Brown discusses his upcoming role on the Senate Banking Committee (from The Zero Hour) They're calling it a "Christmas gift" for Wall Street. Last week the Federal Reserve announced that it's giving US banks yet another extension on the "Volcker Rule" provision in the Dodd/Frank financial reform bill. Show More Summary
Authored by Stephen Roach, originally posted At MarketWatch via Project Syndicate, America’s Federal Reserve is headed down a familiar — and highly dangerous — path. Steeped in denial of its past mistakes, the Fed is pursuing the same incremental approach that helped set the stage for the financial crisis of 2008-2009. Show More Summary
The Federal Reserve Bank of Philadelphia has published its latest coincident indexes for the 50 US states. It's report included the map below, which shows the three month change in the index. The index combines data on payroll employment,...Show More Summary
Annual inflation, even beyond falling gasoline prices, slowed in November, a potential worry for Federal Reserve officials as they look toward tightening monetary policy next year.
Ericka Davis of the Federal Reserve Bank of Dallas recently noted that "[o]ver the past decade, student debt has skyrocketed and delinquency rates have nearly doubled to levels much higher than for other consumer lending products." The...Show More Summary
While there are numerous reasons for recent volatility in asset prices, the market has primarily focused on concerns related to economic weakness in Europe, the possibility of a widespread Ebola outbreak, and the Federal Reserve. The chart below shows the performance of stocks relative to the VIX Fear Index over the past seven [...]
From the Philly Fed: The Federal Reserve Bank of Philadelphia has released the coincident indexes for the 50 states for November 2014. In the past month, the indexes increased in 44 states, decreased in two, and remained stable in four, for a one-month diffusion index of 84. Show More Summary
The U.S. economy’s gradual improvement is being threatened by weaker economic growth prospects overseas, something that might force Federal Reserve officials to wait beyond next year before raising interest rates, according to former Federal Reserve Vice Chairman Donald Kohn.
Submitted by James H Kunstler via Kunstler.com, Janet Yellen and her Federal Reserve board of augurers might as well have spilled a bucket of goat entrails down the steps of the mysterious Eccles Building as they parsed, sliced, andShow More Summary
The Fed has a dirty little secret, one it has closely guarded over the past six years of unconventional monetary policy. This secret has eluded many journalists, commentators, and economists and led to much confusion over monetary policy. Show More Summary
The pricing mechanism for exchange-traded funds is garnering attention from regulators at the Federal Reserve Bank of New York, according to the Financial Times. Tracy Alloway reports that the New York Fed, which wields authority as Wall Street’s top regulator, is asking tough questions about the potential for ETF prices to veer sharply from the [...]
Last week, the Bureau of Engraving and Printing announced that the Federal Reserve had ordered the printing of 7.2 million Federal Reserve Notes for Fiscal Year 2015. This represents over $188 billion in currency. According to the Federal Reserve, the number of notes they order depends on the predicted growth in demand and the predicted [...]
Tim Duy: Asked and Answered. Mostly, by Tim Duy: Last week I had six questions for Federal Reserve Chair Janet Yellen. Here is my attempt to piece together the answers from her post-FOMC press conference: Question 1: If you want...