35 Burst results for "Federal Reserve"

Fed Will Begin Reducing Bond Purchases Before Raising Interest Rates

C-SPAN Programming

02:24 min | 1 d ago

Fed Will Begin Reducing Bond Purchases Before Raising Interest Rates

"The chairman of the Federal Reserve Jerome Powell, today, suggesting that the Fed would follow the same playbook and develop back in 2013 and 2014 once it decides to reverse what it calls its asset purchase program, meaning tapering off those asset purchases would come quote well before any interest rate increase was part of a virtual conversation sponsored by the Economic Club of Washington. Here's some background since last summer, the Fed has been buying about $80 billion in Treasury bonds and about $40 billion In mortgage backed securities each month is a way to boost the economy and to keep the financial market conditions on an even keel. So for now, you can expect interest rates to remain low. He offered this assessment on the U. S. Economy post Cobain 19. E. I think the first thing to realize is that the structure of the economy is always changing. So the economy that we had back in college was one where low unemployment leads a high inflation and inflation state. Hi. It's very different now. And so we have to constantly update our thinking about the way the way the economy actually worked now bringing that to the present. We're coming back to a different economy. It's not going to be the same economy is the one we left and weigh. Don't know. Exact. What that will be, But we have some ideas and we're going to be finding out. I think you're beginning now. One of them is that they'll beam or, of course, they'll beam or remote working remotely. That's one thing another is we've talked to companies and been consulting firms who have pooped surveyed companies and many, many companies have spent the last year thinking about how they can use more effective technology, perhaps at the expense of of the number of people that need it. So do that. Do Their work with fewer people. And that's a lot of the service industry companies that have been traditionally big hirers of relatively low skilled low paid people. So that's a concern because we still have many millions of people from those jobs who were working in public facing service sector jobs. They don't have a lot of other skills or wealth. And so we need to be thinking about what they're going to do and how how they gonna find their way back to the lives and the working lives that they had, and it'll be different. Other ways as well way we'll be learning about that. And we always try to try not to settle on one model of the economy and think that we really understand this because it's ever

FED Jerome Powell Economic Club Of Washington U.
Federal Reserve Survey Finds Economy Rebounding, Helped by Stimulus, Vaccines

Buck Sexton

00:16 sec | 1 d ago

Federal Reserve Survey Finds Economy Rebounding, Helped by Stimulus, Vaccines

"Has found the economy was rebounding in late February through early April, help by the last round of stimulus payments and the stepped up roll out of covert vaccines. Survey called the Beige Book will form the basis for discussions when the Fed meets later this month. Talk about interest rates.

FED
Consumer Prices Rise More Than Expected, Pushed by Jump in Gasoline

Morning Edition

00:51 sec | 3 d ago

Consumer Prices Rise More Than Expected, Pushed by Jump in Gasoline

"Reported a sharp increase in consumer prices. Last month. NPR's Scott Horsley reports, the Dow Jones industrial average fell about 120 points in early trading. Consumer prices jumped by 6/10 of a percent last month. That's the sharpest increase in 2012. Higher gasoline prices accounted for nearly half the monthly increase. The prices for food, recreation and furniture were also higher. Over the past year, Prices have risen by 2.6%. That's well above the Federal Reserve long range target for inflation of 2%. But the central bank says the sharper increase coming out of the pandemic is likely to be temporary and not a big cause for concern. Inflationary figures are also somewhat magnified by the sharp drop in prices a year ago when the coronavirus first took hold in the U. S. Scott Horsley NPR NEWS Washington

Scott Horsley NPR Federal Reserve S. Scott Horsley U. Washington
Derek Chauvin Unlikely to Testify in George Floyd Trial

KOA Programming

00:30 sec | 4 d ago

Derek Chauvin Unlikely to Testify in George Floyd Trial

"Will testify. I think it would be so dangerous to put him on the stand. What is he going to say on cross examination when he's asked? Why didn't you get up? When you saw that George Floyd was not breathing? He was not moving. He didn't even have a pulse, so I would never put him on the stand under these circumstances. U S economy poised for an extended period of strong growth and hiring was the chair of the Federal Reserve. Jerome Powell in a 60 Minutes interview tonight. Downplaying the risk of inflation to more more people to

George Floyd Jerome Powell Federal Reserve
New York Federal Reserve: Americans Are Saving Their Stimulus Check Money

Noon Report with Rick Van Cise

00:40 sec | 6 d ago

New York Federal Reserve: Americans Are Saving Their Stimulus Check Money

"Americans are choosing to put their federal stimulus payments in the bank instead of just spending that cash. Jackie Quinn reports the New York Federal Reserve's been studying what people do with the government covert relief payments finding most nearly 42% of households are using the checks for savings. Nearly 34% are paying down debt. And almost 25% say they're actually spending the money. Researchers say it looks like consumers may be choosing to spend less because of covert restrictions, inhibiting activities, high unemployment and uncertainty about the duration and the economic toll of the pandemic.

Jackie Quinn New York Federal Reserve
How the COVID-19 Pandemic Will Impact the Future Of Work

Morning Edition

00:37 sec | Last week

How the COVID-19 Pandemic Will Impact the Future Of Work

"Of the Federal Reserve says the U. S economy is headed for a strong recovery post pandemic, but Jerome Powell warns people won't find the same labor conditions as businesses embrace new ways for employees to work. They've spent a lot of time since the pandemic arrived, looking at ways to have more effective technology and perhaps fewer people. So you're going to see some of that in these public facing job so There will be millions of people who have a hard time finding their way back into the workforce and recovering the lives that they had just a year ago. PAL spoke yesterday to the International Monetary Fund and World Bank.

Jerome Powell Federal Reserve U. International Monetary Fund An
Americans use stimulus to save, pay off debt more than spend

AP News Radio

00:41 sec | Last week

Americans use stimulus to save, pay off debt more than spend

"Many Americans are choosing to put their federal stimulus payments in the bank rather than spending the money the New York federal reserve's been studying what people do with the government coded relief payments finding most nearly forty two percent of households are using the checks for savings nearly thirty four percent are paying down debt and almost twenty five percent say they're actually spending the money researchers say it looks like consumers may be choosing to spend less because of code restrictions inhibiting activities high unemployment and uncertainty about the direction and the economic toll of the pandemic I am Jackie Quinn

New York Federal Reserve Jackie Quinn
Fed's Powell: US nears full reopening to 'different economy'

WSJ What's News

00:34 sec | Last week

Fed's Powell: US nears full reopening to 'different economy'

"Federal reserve chairman. Jerome powell pointed to a strong march jobs report as a sign of continued economic recovery. But he says the fed is still waiting to see a significant improvement in the economy before easing supportive measures and we got a taste of what faster progress will look like with the march plummer report close to a million jobs particularly if you add in the revisions for january and february and we want to see a string of months like that so we can really begin to show progress toward our goals. Powell spoke today at a seminar on the global economy hosted by the international monetary fund. He also expressed the importance of vaccines for the us and global recovery.

Jerome Powell Federal Reserve Plummer Powell International Monetary Fund United States
Fed's Powell: US Nears Full Reopening to 'Different Economy'

AP News Radio

00:48 sec | Last week

Fed's Powell: US Nears Full Reopening to 'Different Economy'

"Federal reserve chair Jerome Powell says the U. S. economy is heading for a strong recovery but not for everybody we're not going back to the same economy this will be a different economy Powell says some industries will likely be smaller than before the pandemic in other cases employers have spent the pandemic finding ways to use technology instead of workers wherever they can there will be millions of people who have a hard time finding their way back into the work force and recovering the lives that they had just a year ago in remarks to the International Monetary Fund and the World Bank Powell said the piece of virus vaccinations am signs of rapid hiring or putting the US on track to allow for a full re opening of the economy fairly soon Sager macaroni Washington

Jerome Powell Federal Reserve Powell U. International Monetary Fund World Bank Sager Macaroni United States Washington
How consumers are using their latest relief checks

All Things Considered

02:05 min | Last week

How consumers are using their latest relief checks

"To have you with us. The Federal Reserve Bank of New York is out with a new study today, looking at how people are spending or not spending their pandemic relief checks. So far, most are using the money to pay off debt or saving it. Not exactly the economic stimulus. Many are hoping for marketplaces Nancy Marshall Ganz or has more on why people are holding back on spending. The New York Fed says the consumers it surveyed who've already received their third relief checks are hanging on to the money just like they did with the 1st and 2nd relief payments. The Fed report says. Consumers are only planning to spend a quarter of the most recent check, and most of that will go toward essentials. We were savers Jason Calas are is an eighth grade teacher. He, his wife and teenage son lived near Los Angeles. He says. In the before times they go out to eat once or twice a month. But they won't be using any their stimulus money for that. In fact, he doesn't think they'll set foot in a restaurant until next year. We spent the lad better part of 13 months used, avoiding indoors and people are strangers. And then it would just be a big hurdle to get over. Salazar says they might reconsider once they're all vaccinated. Kathy Bostjancic, an economist at Oxford Economics, says a lot of other consumers feel the same way. The confidence to go out and spend on services is is very directly related to the progress we're making on the vaccinations. Question Sick thinks will make enough progress for consumer spending to jump about 3.5% over the next few months. Other economists, like Joseph Minarik of the Conference board aren't quite so optimistic. The people who worked in hotels or in transportation We're getting up to full capacity is going to take some time. Those folks are going to continue toe hold back in terms of their spending, Min Eric says. Even some people who do have jobs are worried They'll get a pink slip and economic growth won't recover without them, since roughly 70% of the U. S economy

Federal Reserve Bank Of New Yo Nancy Marshall Ganz Jason Calas Kathy Bostjancic Oxford Economics FED Salazar Joseph Minarik Los Angeles Conference Board Min Eric U.
Stocks fluctuate as investors await minutes from Federal Reserve's policy meeting

Bloomberg Daybreak

00:23 sec | Last week

Stocks fluctuate as investors await minutes from Federal Reserve's policy meeting

"Are fluctuating. His investors await minutes from the Federal Reserve's latest policy meeting. While sifting through remarks from central bank officials. The S and P is lower now down by half a point. Little change. Stocks treading water We've got the Dow down. 22 points lower by 1/10 of 1%. NASDAQ Down 24 a drop of 2/10 of 1%

Federal Reserve
Federal Reserve Bank of Philadelphia president on effect of pandemic on employees

Bloomberg Best

00:57 sec | 2 weeks ago

Federal Reserve Bank of Philadelphia president on effect of pandemic on employees

"Indicates many workers are ready to give up their paycheck and say I'm out of here I quit. A Microsoft survey of global workers finds the majority feel they're struggling or just surviving and pandemic work conditions and a large percentage you're considering leaving their employer this year. Same survey shows. Most business leaders feel the employees of thriving Federal Reserve Bank of Philadelphia President Patrick Harker says the problem is obvious. Workers want a feel like they're valued and that they're rewarded for their work. 46% of respondents say they're planning to move to a new location this year, a reflection of the greater flexibility to work from home. 41% say they're mulling leaving their jobs. JP Morgan boss Jamie Diamond says a lot of the problem is remote work, so it's hard to think okay, culture and character and all those things When you have the zoom world, 18 to 25 year olds are faring the worst. Researchers theorize their feelings of isolation or higher because they're more likely to be early in their careers in single, Quite Jared

Patrick Harker Federal Reserve Bank Of Philad Jamie Diamond Microsoft Jp Morgan Jared
Ships Start to Move in Suez Canal After Ever Given Freed

Bloomberg Daybreak: Asia

01:00 min | 2 weeks ago

Ships Start to Move in Suez Canal After Ever Given Freed

"In the sewers Canal. That's a novelty have toe the dislodging of the giant ever given container ship at least three vessels now moving, according to ship tracking data. Shipping agent G. A. C said there were 437 ships waiting to transit through the waterway Guy Platon is international Chamber of Shipping secretary general. And he told US shipping rates certainly going to spike as scores of delayed cargo ships resume their voyage down the service canal. That's gonna take some time for everything to re balance itself out, and that's gonna affect the rates going forward, But without a doubt, we have essentially a week of no train for the sewers. That ships, which are rooting down past the south south coast of South Africa, gave a good horn on that's adding a week or so onto the their journeys Plus of the ladies here now, so this ripple through the supply chain we're gonna feel for some time to come up here. Yes, and buy some time. Shipping experts and tips. Anticipate is going to be weeks before things get back to normal. Thanks to these disrupted schedules. Federal Reserve Governor

Sewers Canal G. A. C Guy Platon International Chamber Of Shipp South Africa United States Federal Reserve
World stocks advance on optimism over pandemic recovery

AP News Radio

00:40 sec | 3 weeks ago

World stocks advance on optimism over pandemic recovery

"World stocks have advanced on optimism over a pandemic recovery she is also stronger in Europe all of the gains in Asia driven by hopes for a strong recovery from of the corona virus pandemic Paris London and Tokyo it belongs and U. S. futures also will hire investors appear to be shrugging off a resurgence all cases in many areas and focusing on signs the economy is on the mend and use little portfolio manager at Morgan Stanley investment management says there's a good chance the recovery could be surprisingly strong with little interference from the federal reserve I'm Charles Taylor this month

Morgan Stanley Investment Mana Asia U. Tokyo Europe Paris London Federal Reserve Charles Taylor
Tesla Will Accept Bitcoin as Payment, Elon Musk says

5 Things

01:11 min | 3 weeks ago

Tesla Will Accept Bitcoin as Payment, Elon Musk says

"Can now buy a tesla with bitcoin. ceo elon. Musk said in a series of tweets on wednesday that his electric car company will begin accepting the crypto currency as a form of payment money and tech editor brett. Molina has more. He says any bitcoin that is used to purchase. A tesla will be retained as bitcoin and it will be converted to fiat currency which is basically a fancy way of saying that it won't be converted into money that is government issued must also said the option of pay by. Bitcoin will be available this year for consumers who are living outside the us Tesla talked about accepting. Bitcoin is a form of payment in a filing last month with the securities exchange commission. So it's a big deal. It gives bitcoin more legitimacy as it grows into this new form of crypto currency. There are still some concerns though with the adoption of bitcoin although more companies are starting to use it a federal reserve chair. Jerome powell recently warned that the us public needs to understand better. The risks center involved with using crypto currencies. And he compares it more gold. It's not necessarily something that equates to a dollar but it's more like an asset like gold

Tesla Ceo Elon Bitcoin Musk Securities Exchange Commission Molina Brett Jerome Powell United States
Stablecoins in the Hot Seat: Powell Calls Bitcoin a Substitute for Gold

The Breakdown with NLW

05:54 min | 3 weeks ago

Stablecoins in the Hot Seat: Powell Calls Bitcoin a Substitute for Gold

"There was an absolute flurry of content and commentary yesterday around the place of bitcoin. Stable coins defy and the digital asset industry as a whole vis-a-vis. Us government regulation as well as how a digital dollar might shake that all up before we get into it. Let's at the terms of the debate. One of the competitors for this cycles top fudd is the government will ban it if it gets sufficiently threatening now to be clear banning depending on your sister could mean anything from an outright ban of use in holding too forceful seizure too limiting access to on and off ramps to the more benign from a commercial standpoint but no less threatening from a privacy standpoint integration of the full crypto infrastructure into the am l. kyc. Money surveillance apparatus. I've spent some time on this show looking into global versions where this fudd seems to be playing out in particular. We've been watching the evolving situation in india and nigeria india which seems gearing up for a bill that would have some sort of outright ban although at least one finance minister says that that's not the case and nigeria. Where the central bank of nigeria. I reiterated that banks should not be working with crypto users which they've then subsequently rolled back just a little bit either way however really what everyone has been focused on is the us particularly in the context of a new administration. The last administration had friends and foes alike when it came to bitcoin and crypto trump. Famously tweeted that he did not like bitcoin or crypto. But we didn't really take that seriously as a threat because it was so clearly about zuckerberg and libra mnuchin was a much bigger enemy. Probably wrote that text for trump's tweet even and clearly wanted to tighten the reins in his final act. He was trying to require exchanges to collect more information. When users transferred crypto to their own wallets on the flip side however there was brian brooks who was absolutely revolutionary at the office of the comptroller of the currency. The changes he oversaw are a huge reason. Why so many big institutions are now playing in this space. Why so many big traditional banks feel like they have to race to catch up to allow people to offer their customers crypto services however as we know from physics every action has a reaction and to some extent one reason why observers are so keenly watching the biden administration is to see how much they're going to respond or try to walk back with brooks in the occ changed on top of that. As the biden administration has come to power the price and volume around bitcoin stable coins and the rest of the digital asset industries have made them much more on ignore -able last time joe biden was in office. Bitcoin is about four hundred and thirty bucks. Now it's been over fifty thousand dollars for sixteen days in a row tether was barely out of diapers now. It has a market supply above forty billion in his doing upwards of one hundred billion dollars in volume per day combined with us dc. And you've got over. Fifty billion dollars of usd approximates there so lot more is at stake with that. People have been watching. Two things has come in and what they're saying on the who has come inside. Janet yellen is back for another round although this time is treasury secretary rather than as he chair gary genzer to is back. Although this time is as he c- chair. Instead of cftc chair of these two there is much more optimism around gessler who has done a pretty fair bit of work to understand where the crypto industry is coming from even teaching a course at mit about bitcoin and blockchain. And of course we have someone who still around in the form. Of jay powell. The federal reserve chairman. His ex factor. And all these discussions is the potential of a central bank digital currency a digital dollar. That could potentially shift the us's relationship with these projects now in terms of what we've seen these actors say so far over the last few months up until now it's been pretty standard fare one part. There's a lot of exciting potential here. One part we have to protect investors though and one part but it's also used by criminals over the last couple of days however we've gotten both comments and news that could shift as into our next phase of understanding what the us is relationship with. Bitcoin stable coins and other digital assets is going to look going forward. So let's talk about powell speaking about cdc's and cryptos at a bank for international settlements panel yesterday. Let's talk about the announcement of digital dollar prototypes coming this summer. And let's talk about new draft fat. If guidelines around cryptocurrencies. I up powell. Did a session yesterday with leaders from the bank for international settlements including augustine carstens. We talked about last week. He was asked about crypto currencies. And whether he saw them as a threat. And here's what he said. We call them crypto assets. You know. they're they're highly volatile. See bitcoin and therefore not real useful as a store of value in there not backed by anything. They're more of an asset for speculation. So they're also not particularly in use as a means of payment. It's more speculative asset. That's it's essentially a substitute for gold rather than for the dollar. And i think with crypto acids the the the public needs to understand the risks. The principle thing is there's the volatility there's also the outsized energy requirements requirement for for mining. And the fact that they're not backed by anything so let's break out these three reasons that he wasn't particularly impressed by cryptos. I this idea of volatility or that. It's just an asset for speculation. Basically he's dismissing bitcoin and any other crypto as something that he does not have to stress about or really factor into his consideration around global monetary competition while many. Bitcoin is grabbed onto the essentially a substitute for gold piece as a great tweet and knocked to the gold bugs. Who they're trying to convert or at least undermined powell was saying this more. Like a giant shooing away. A fly gold is to him clearly. Irrelevant an unimportant antiquated part of the fiat system that he sits at the helm of in that way a substitute for that thing does not present a threat

Biden Administration Libra Mnuchin Nigeria Brian Brooks Central Bank Of Nigeria India Janet Yellen Gary Genzer Gessler United States Jay Powell Zuckerberg Bitcoin Famously Donald Trump OCC Joe Biden
Fed’s Corporate Bond Buying Foresaw a Year of Covid Pain

Marketplace with Kai Ryssdal

02:33 min | 3 weeks ago

Fed’s Corporate Bond Buying Foresaw a Year of Covid Pain

"A year ago. The twenty third of march twenty twenty early. On as you're know in the days of this pandemic when maybe not all of us understood how much trouble we were gonna be in public health wise mental health wise certainly and economic health wise as well and we begin today of last year because we marked two milestones on this tuesday first of all the stock market low of the pandemic. It's been basically straight up since then. I know not the economy. Thank you we offer that. Just as a marker also a year ago today the federal reserve said it was going to step in and start buying up corporate bonds. That was and is a big deal. The fed getting into corporate dead didn't because the market for that debt just frozen and the fed was helping those companies borrow at lower rates which can be conducive to business and borrow they did. Corporate debt had records in twenty twenty but with rising interest news of late. As we've been telling you corporate debts been getting a little bit more expensive. Marketplace's justin ho gets us gone. Investors think about corporate bonds. Kind of like how they think about government bonds. If you're going to lock up my money for years you better pay me enough interest to make it worth my while. They want to be earning a rate of return that is higher than expected inflation. That's winnie caesar. at wellsfargo. She says many investors expect inflation to pick up this year. People are likely to spend more and that spending good drive up prices not just for regular consumers but for companies to it could be that accompanies cost of labor is increasing. It could be that. A company's cost of just raw materials and commodities is increasing. Those expectations are causing. Corporate bond yields to rise. But they're also signs of an improving economy says kathy jones chief fixed income strategist at charles schwab. Which underwrites this program. Jones says corporate borrowing costs are historically low and even though they're currently rising that shouldn't be an impediment to them investing and continuing to grow the business. The concern says stephen davidov salomon uc. Berkeley is if rates continue to grow into next year or the following if rates get too high. He says companies won't be able to borrow as much to a fun. Projects investment will slow because investment becomes more costly fed chair. J. paul said today although he expects prices to creep up this year he doesn't think that will have a big or lasting impact on overall inflation.

FED Justin Ho Winnie Caesar Kathy Jones Stephen Davidov Salomon Charles Schwab Jones Berkeley J. Paul
Yellen, Powell say more needed to limit US economic damage

AP News Radio

00:48 sec | 3 weeks ago

Yellen, Powell say more needed to limit US economic damage

"Treasury secretary Janet Yellen and federal reserve chair Jerome Powell told the house committee more must be done to limit the economic damage from the corona virus pandemic Powell says the economy is improving the worst was aborted by swift and vigorous action but he added it's important to continue government economic support Republicans are worried about possible tax hikes on the wealthy and corporations Georgia Republican Barry Loudermilk says economists are predicting economic growth economists also believe the packages six and a half times larger than it needs to be Yellin says the country has lost nine point five million jobs will have a huge problem of joblessness I'm in order Yellen also talked about the prospect of returning the country to full employment next year at Donahue Washington

Janet Yellen Jerome Powell House Committee Barry Loudermilk Federal Reserve Treasury Powell Yellin Georgia Yellen Washington
"federal reserve" Discussed on WSJ What's News

WSJ What's News

04:46 min | 9 months ago

"federal reserve" Discussed on WSJ What's News

"Get your podcasts. Back, in March and April when much of the country was in lockdown, the Federal Reserve made a number of bold moves to keep the wheels of finance turning in the US. But the central bank also took action overseas lending. Massive amounts of money to global economy's in crisis, and that marked a huge expansion of the Fed's role on the world stage. Our Wall Street Journal Economics correspondent, Nick Tim rose joins me now with more details. So nick the actions event has taken to bolster the economy during the pandemic have been pretty unprecedented. You looked at how historically the Fed's been resistant to being a backup lender on a global scale. Tell us about the situation prior to the pandemic. The Fed has a domestic mandate, right? Their job is to make that inflation is stable in the United States and. Can boost employment as much as possible within the confines of keeping prices stable, and so they've always kind of shied away from accepting this role of being global lender of last resort. But that really changed in the second and third week of March when the coronavirus pandemic went global and reach the US. Remind us of the domestic actions. The Fed took back in March and April. So the Fed did two things in March I, they cut their short-term interest rate to zero at two emergency meetings, and they also announced plans to buy a large amount of treasury bonds and orange back securities because those two markets which traditionally or the most deepened liquid markets are not functioning properly, and so that was actually kind of a scary moment global finance because you expect the treasury market to be a place where you can trade at any time of day and and it was, it wasn't really working that way in the middle of March. Now, in addition to those steps, the Fed also took action to bolster global economy is, can you explain what actions the Central Bank took? So the Fed activated a network of swap lines and what those are their agreements with foreign central banks that allow central banks to borrow dollars from the Fed. Then they can lend those dollars to their to their own banks. It's a way for the Fed to make sure that if there is a crisis in which. Institutions Banks, life, insurance companies in other countries need to get access to dollars, they can do it. It's something. The Fed does very rarely, but they've done it during times of global stress including during the two thousand, eight financial crisis, and why it helped was in the middle of March. Everybody wanted to get their hands on dollars, and so they were selling, they were panicked selling even safe assets like treasuries. By allowing other countries to make dollars more available, it may have stopped these panic sales of. Treasury. Because if you want to get dollars and you're selling safe assets like treasuries and you now know, well, actually these plans are gonNA. Make dollars available your own market and it helps to slow down that kind of Hanoch hoarding of dollars as you. Right. This is something that happens pretty quietly and sort of under the radar. Why is that? Well, it happened under the radar because even though the Fed announced, they were doing this. There was so much else going on at the time that it really didn't get that much attention. So the Fed, for example announced they were going to make. Trillions of dollars of loans needed through these emergency lending facilities in the united. States but those took a long time to get up and running the dollar swap networks went and took effect almost right away, and so when I may the Fed had lent four, hundred, fifty, billion dollars abroad through these networks, it took much longer for their other emergency loan programs to get up and running. Do you think going forward and having taken. This action will embolden the Fed to intervene in this way again or take a more active role. While the big question now is is what will investors in the United States? In, other countries expect the Fed to do during the next crisis. Obviously, we've never had a global pandemic. We've never had a crisis like this where any concerns about you know so-called moral house were bailing out financial institutions. They sort of went by the wayside because This was virus nobody could have planned for this, but there is the question. The next time? Something like this happens? What is the federal into to do? That's Wall Street Journal reporter Nick Tim Rose Nick. Thank you so much for joining me. Thanks for having me. Do. Before we go. If you've got an old car and have.

Federal Reserve United States Nick Tim Rose Nick Treasury Our Wall Street Journal Econom Nick Tim Wall Street Journal reporter
"federal reserve" Discussed on Conspiracy Theories

Conspiracy Theories

01:50 min | 10 months ago

"federal reserve" Discussed on Conspiracy Theories

"Thanks for tuning into conspiracy theories. We'll be back Monday with a new episode. You can find all episodes of conspiracy theories and all of their park asked originals for free on spotify, not only to spotify already have all of your favorite music, but now spotify is making it easy for you to enjoy all of your favorite podcast. Originals like conspiracy theories for free from your phone, desktop or smart speaker to stream conspiracy theories on spotify just open the APP anti-pc conspiracy theories in the search bar until then remember the truth isn't always the best story and the official story isn't always the truth. Conspiracy theories was created by Max Cutler and is parkas studios. Original executive producers include Max and Ron. Cutler sound designed by Mike. Lang's ner with production assistance by Ron Shapiro Carly Madden and Travis Clark. This episode of conspiracy theories was written by Lori Gottlieb with Writing Assistance by Kate, Gallagher and stars Molly Brandenburg and Carter Roy. Don't forget to check out my new podcast series solved murders. True crime mysteries join me in the team behind unsolved murders, as we explore the days months, and even years leading up to killer being caught. I can't wait for you to hear it. New Episodes Premiere every Wednesday follow solved murders, true crime mysteries free and only on spotify..

"federal reserve" Discussed on Conspiracy Theories

Conspiracy Theories

02:11 min | 10 months ago

"federal reserve" Discussed on Conspiracy Theories

"So while it's easy to turn the symbolism into something conspiratorial. It makes more sense that the dollars designed draws from important parts of American history. As for the Federal Reserve. Being upon in the new world order you have to admit that the World Bank seems to be a step in that direction. It empowers the Federal Reserve on the world stage by using the American dollar as its reserve currency perhaps. But there's very little evidence to prove that the Federal Reserve was ever affiliated with the illuminating to begin with or that the new world order even exists does money by power absolutely is the Federal Reserve upon in various plot to take over the world. I. Don't think so, which is why I give this theory a two out of ten. I entirely agree with that score There's a big difference between a totalitarian new world order that wants to maliciously control the planet in the World Bank that can help impoverished countries in a time of need. And as one of the wealthiest nations in the world, it makes sense that the US dollar would be the World Bank's note of choice that may give the Fed more power but I. don't think it's part of some grand design. After hearing a few, the conspiracy theories surrounding the Federal Reserve I think we can safely say that the most likely scenario is conspiracy theory number one. That, the Federal Reserve caused the Great Depression even the Fed itself admitted to its culpability. Whether the act was nefarious or intentional. Well that's still up for debate. I agree it feels like the most obvious of the three theories that said the Federal Reserve is still alive, and well has still pulls the strings of our economy with little supervision from the government. This means that theory number three could one day become a reality and anyone with money in the bank or stock, market or anyone who uses American dollars at all. Could become a pawn in the Federal Reserve's dangerous game..

Federal Reserve World Bank US
"federal reserve" Discussed on Conspiracy Theories

Conspiracy Theories

01:54 min | 10 months ago

"federal reserve" Discussed on Conspiracy Theories

"The Federal Reserve. He was also the leading Democratic candidate for the presidency. On June, fifth, nineteen, sixty eight, he won the Democratic presidential primary in California but that night outside the Ambassador Hotel in Los Angeles. A twenty four year, old man named Sir Hands Saran. And Killed Robert Kennedy. After Sir Hans Arrest Harvard. Medical School Professor Daniel P Brown examined him. Brown was an expert in forensic psychiatry and hypnosis. Mr Han did not act under his own volition and knowledge at the time of the assassination, and is not responsible for actions co worst, and or carried out by others. Round went on to claim that Sir hand was a real life. Manchurian candidate Brown was referring to the CIA as notorious mind. Control program known as M.. K. Ultra allegedly Sir Hanmi have been under the influence of advanced mind. Control techniques developed by the CIA. They coerced him into doing the governments, or perhaps the feds, dirty work and of the C. I.. A. And the Federal Reserve had worked together before to eliminate President Kennedy then it would make sense that they would collaborate to assassinate his brother to. Accept? There's hardly any evidence that the two organizations ever teamed up Oswald may have been involved with the CIA, which means that organization could have played a role in Kennedy's assassination. But there's nothing to suggest that. The Federal Reserve acted as a third party. It sounds more like the bad blood between Kennedy and the Fed spiraled into a hostile rumor, which is why I'm giving conspiracy theory.

Federal Reserve President Kennedy CIA Professor Daniel P Brown Sir Hanmi Sir Hans Arrest Harvard Sir Hands Saran Sir hand Ambassador Hotel Mr Han Los Angeles California Medical School Oswald K. Ultra
"federal reserve" Discussed on Conspiracy Theories

Conspiracy Theories

01:30 min | 10 months ago

"federal reserve" Discussed on Conspiracy Theories

"Cycle seems outlandish. That may be, but the economy had one of its most prosperous periods after World War One. Perhaps they weren't prepared for fluctuations of this magnitude. That were the case. They did nothing to help the broken system. The feds primary job is to be a lender of last resort. Instead they decrease the US money supply by one third, meanwhile, J. P. Morgan's associates gone up the failed banks to profit from later on which is why it's highly likely. The Fed caused the great. Depression, intentionally the men who founded the Fed reap too much profit on a scale of one to ten with ten, being the most believable and one meaning the theory isn't persuasive at all. I give this theory in eight. I'm not convinced. The Fed had some nefarious plan to sabotage the united. States economy! I think their lack of action was due to structural ineffectiveness, so I give this theory, a four out of ten whether or not the Federal Reserve intentionally caused the Great Depression. We can agree. They had their own best interests in mind. Their executives certainly took advantage of the opportunity to enrich themselves, and that might not be the most nefarious thing the Fed has ever done. Three decades after the Great Depression? They may have leveraged their power to rope, the CIA and other players into their plans..

Federal Reserve Depression CIA J. P. Morgan US
"federal reserve" Discussed on Conspiracy Theories

Conspiracy Theories

03:02 min | 10 months ago

"federal reserve" Discussed on Conspiracy Theories

"That he received criticism for controlling prices and keeping inflation. Rather than jacking up prices to boost employment. Basically, he took money from companies and put it in consumers hands rather than enriching business owners to create jobs. Greenspan continued to push for low interest rates through the DOT com bubble, and the nine eleven attacks many Credit Greenspan for the longest economic expansion. The United States has ever seen, but after eighteen years, Greenspan left the job in two thousand five. And while the Fed was extremely successful up to that point, the two thousand eight recession brought new criticism author and Congressman Ron Paul published his book end the Fed to shed light on what he considered a dangerous and corrupt institution Paul claim that not only was the Federal Reserve and call. It was unconstitutional. Congress didn't actually have the right to establish A. A centralized bank or create paper money and the Federal Reserve was an institution designed to sidestep these measures through semantics Paul argued in the post meltdown world it is irresponsible, ineffective and ultimately useless to have a serious economic debate without considering and challenging the role of the Federal Reserve ultimately Paul's in the Fed Movement helped increase national skepticism toward the Federal Reserve. Because of its unique position, straddling the line between public and private, the Fed can keep its inner workings close to the chest, and this elusive nature has inspired many conspiracy theories like conspiracy theory number one the Federal Reserve didn't just sit idly by during the Great Depression, they actually caused it. So it's founders could enrich themselves at the public's expense. Conspiracy theory number to the Federal Reserve, ordered the assassination of President John F Kennedy in nineteen, sixty three after JFK signed an executive order handing over more power to the treasury. The Fed may have collaborated with the CIA to kill the thirty fifth president. And conspiracy theory number three the Federal Reserve is a cog in the new world order who may be using the Organization for global domination. The Federal Reserve is one the least understood organizations in our country. We don't know exactly what its goals are because it operates in the shadows. Songs Federal Regulation, they control the most dangerous weapon known to mankind. Our money. Thanks for tuning in to conspiracy theories. We'll be back. Wednesday.

Federal Reserve Greenspan Ron Paul Fed Movement United States President John F Kennedy Congress CIA Congressman treasury president executive
"federal reserve" Discussed on Conspiracy Theories

Conspiracy Theories

03:02 min | 10 months ago

"federal reserve" Discussed on Conspiracy Theories

"That he received criticism for controlling prices and keeping inflation. Rather than jacking up prices to boost employment. Basically, he took money from companies and put it in consumers hands rather than enriching business owners to create jobs. Greenspan continued to push for low interest rates through the DOT com bubble, and the nine eleven attacks many Credit Greenspan for the longest economic expansion. The United States has ever seen, but after eighteen years, Greenspan left the job in two thousand five. And while the Fed was extremely successful up to that point, the two thousand eight recession brought new criticism author and Congressman Ron Paul published his book end the Fed to shed light on what he considered a dangerous and corrupt institution Paul claim that not only was the Federal Reserve and call. It was unconstitutional. Congress didn't actually have the right to establish A. A centralized bank or create paper money and the Federal Reserve was an institution designed to sidestep these measures through semantics Paul argued in the post meltdown world it is irresponsible, ineffective and ultimately useless to have a serious economic debate without considering and challenging the role of the Federal Reserve ultimately Paul's in the Fed Movement helped increase national skepticism toward the Federal Reserve. Because of its unique position, straddling the line between public and private, the Fed can keep its inner workings close to the chest, and this elusive nature has inspired many conspiracy theories like conspiracy theory number one the Federal Reserve didn't just sit idly by during the Great Depression, they actually caused it. So it's founders could enrich themselves at the public's expense. Conspiracy theory number to the Federal Reserve, ordered the assassination of President John F Kennedy in nineteen, sixty three after JFK signed an executive order handing over more power to the treasury. The Fed may have collaborated with the CIA to kill the thirty fifth president. And conspiracy theory number three the Federal Reserve is a cog in the new world order who may be using the Organization for global domination. The Federal Reserve is one the least understood organizations in our country. We don't know exactly what its goals are because it operates in the shadows. Songs Federal Regulation, they control the most dangerous weapon known to mankind. Our money. Thanks for tuning in to conspiracy theories. We'll be back. Wednesday.

Federal Reserve Greenspan Ron Paul Fed Movement United States President John F Kennedy Congress CIA Congressman treasury president executive
"federal reserve" Discussed on Conspiracy Theories

Conspiracy Theories

03:34 min | 10 months ago

"federal reserve" Discussed on Conspiracy Theories

"Federal government, it wasn't technically unconstitutional. His model wasn't too far off from the Bank of North America's in fact Hamilton was a former colleague of Robert Morris and some believe that he was working to keep Morris's agenda alive. Theoretically, the further the banks stayed from political control in the less, the public understood about their inner workings. The easier they'd be to profit from. Except Thomas Jefferson saw right through Hamilton's plan. He argued that because Congress couldn't print money. They also shouldn't create their own bank. The heated debate lasted months. The issue played a part in creating the country's first political parties. Hamilton led the federalists who advocated for a strong centralized government and commercial growth. Jefferson became the face of the Anti. federalists who supported states, rights and believe the constitution should limit the federal government's power. Ultimately Hamilton's party went out in Congress issued a twenty year charter to the First Bank of the United States Hamilton handpicked. The bank's new President Thomas Willing a merchant who had benefited from Morrison's corrupt dealings during the revolutionary. War The first bank acted as the nation's fiscal agent, securing incoming loans in paying its bills. The US government became the largest shareholder in the biggest corporation in America and while it didn't manage the bank. Bank directly it collected a portion of its profits inspected the books from time to time of course, the government flourished when the first bank did well, so they didn't have much incentive to blow the whistle. If they ever found something amiss, unlike the Federal Reserve, the first bank offered loans to private citizens and businesses. It printed its own banknotes backed by gold reserves with those notes in circulation. The US dollar became more powerful. In eighteen eleven, the charter went up for renewal but Alexander Hamilton wasn't alive to defend the banks honor anymore. The pro-bank federalists no longer had congressional power at the end of January. The House voted on whether or not renew the charter. It came down to a tie-breaking vote and the First Bank of the United. States lost. It was subsequently dissolved. Another attempt was made with the Second Bank of the United. States in eighteen sixteen, but it didn't have the support of the newly elected President Andrew, Jackson so the second bank met the same fate as its predecessor, and was also dissolved for the next seventy five years. The United States thrived with only private or state owned banks. That is until nineteen o seven when the new. York Stock Exchange fell almost fifty percent and panic spread throughout the nation. Millions of dollars had disappeared overnight. Coming up the panic of nineteen o seven triggers a top secret meeting of the world's wealthiest men. Knives out the critically acclaimed blockbuster film that audiences love is now free to prime members on prime video. When renowned crime novelist Harlan thrown be dies on the.

First Bank Alexander Hamilton United States Federal government Thomas Jefferson Congress Robert Morris Federal Reserve North America President Andrew, Jackson York Stock Exchange President Harlan America Morrison
"federal reserve" Discussed on Conspiracy Theories

Conspiracy Theories

03:43 min | 10 months ago

"federal reserve" Discussed on Conspiracy Theories

"Safely store public funds and take over the government's financial duties like back war debts. And since it would all be done outside of the federal government, it wasn't technically unconstitutional. His model wasn't too far off from the Bank of North America's in fact Hamilton was a former colleague of Robert Morris and some believe that he was working to keep Morris's agenda alive. Theoretically, the further the banks stayed from political control in the less, the public understood about their inner workings. The easier they'd be to profit from. Except Thomas Jefferson saw right through Hamilton's plan. He argued that because Congress couldn't print money. They also shouldn't create their own bank. The heated debate lasted months. The issue played a part in creating the country's first political parties. Hamilton led the federalists who advocated for a strong centralized government and commercial growth. Jefferson became the face of the Anti. federalists who supported states, rights and believe the constitution should limit the federal government's power. Ultimately Hamilton's party went out in Congress issued a twenty year charter to the First Bank of the United States Hamilton handpicked. The bank's new President Thomas Willing a merchant who had benefited from Morrison's corrupt dealings during the revolutionary. War The first bank acted as the nation's fiscal agent, securing incoming loans in paying its bills. The US government became the largest shareholder in the biggest corporation in America and while it didn't manage the bank. Bank directly it collected a portion of its profits inspected the books from time to time of course, the government flourished when the first bank did well, so they didn't have much incentive to blow the whistle. If they ever found something amiss, unlike the Federal Reserve, the first bank offered loans to private citizens and businesses. It printed its own banknotes backed by gold reserves with those notes in circulation. The US dollar became more powerful. In eighteen eleven, the charter went up for renewal but Alexander Hamilton wasn't alive to defend the banks honor anymore. The pro-bank federalists no longer had congressional power at the end of January. The House voted on whether or not renew the charter. It came down to a tie-breaking vote and the First Bank of the United. States lost. It was subsequently dissolved. Another attempt was made with the Second Bank of the United. States in eighteen sixteen, but it didn't have the support of the newly elected President Andrew, Jackson so the second bank met the same fate as its predecessor, and was also dissolved for the next seventy five years. The United States thrived with only private or state owned banks. That is until nineteen o seven when the new. York Stock Exchange fell almost fifty percent and panic spread throughout the nation. Millions of dollars had disappeared overnight. Coming up the panic of nineteen o seven triggers a top secret meeting of the world's wealthiest men. Knives out the critically acclaimed blockbuster film that audiences love is now free to prime members on prime video. When renowned crime novelist Harlan thrown be dies on the.

First Bank Alexander Hamilton United States federal government Thomas Jefferson Congress Robert Morris Federal Reserve North America President Andrew, Jackson York Stock Exchange Harlan President America Morrison
"federal reserve" Discussed on Business Basics

Business Basics

09:12 min | 1 year ago

"federal reserve" Discussed on Business Basics

"We're left with a lot of new deal proposals like the glass steagle act and some other new reforms that end up giving the Federal Reserve's responsibilities over to the treasury and what this process does is it allows the Fed to become more focused on certain duties. It'll it'll also Laos the Fed to become more centralized so in effect. It's making the Federal Reserve a more efficient system that we can effectively implement. Us economic policy. So what is the Federal Reserve today? So basically the Federal Reserve is what is known as a bank while simultaneously being the government. Spink IT sells notes and bonds which are basically where consumer gives money to the government and the government uses that money and after a certain period of time depending on the bond length or the note went then the federal government gives that money back to the person who purchased it with interest and each bond rate has an interest rate attached to it which allows the consumer to make money from it in addition to that the Federal Reserve is also responsible for distributing cash apply from the Treasury to the Banks. So that means that it's a whole nother organization within the federal government. That's separate from the Treasury. It's working in tandem with the Treasury to distribute money. But it's not the one producing money dot is the treasury's job. The Fed the Federal Reserve has twelve banks. It has banks in Boston. New York City Philadelphia Cleveland Richmond Chicago. Atlanta Saint Louis. Minneapolis Dallas San Francisco in Kansas City. So these twelve banks all have a president or CEO. Who's responsible for managing that bank and each of these banks are responsible for distributing money to their respective regions and lending major commercial banks money. In addition to those twelve banks the Federal Reserve also has a seven member committee known as the Board of Governors and this board of governors is the one who sets interest rates and they are the ones who help in making public policy them in tandem with the Federal Open Market Committee and another system. We'll talk about so the Board of Governors seven member committee appointed by the President and approved by the Senate and then you have on the seven member committee. A chairman and vice chairman were appointed to buy the precedent and they serve four year terms without any term limits. Sonali mentioned the Federal Open Market Committee. What exactly is that? The Federal Open Market Committee is the Board of Governors plus the president of the New York City Bank and three other of those eleven other Bank Federal Reserve Bank chairs that end up rotating in a yearly fashion. This Federal Open Market Committee meets eight times a year and they're the ones who set federal the Federal Reserve policy they set interest rate guidelines within the interbank market. So what does that mean? Basically banks trade money amongst themselves before they traded to consumers and whenever they traded amongst themselves they have an interest rate that they abide by. And because you have competing banks trading money. You're not going to have one. Banks set an interest rate. What you're going to have is the banks abiding. By the interest rate guidelines set by the Federal Reserve so those banks will trade money amongst themselves by the poll by the range set by the Federal Reserve. And then in turn those banks will for the most part set their own interest rates that they charge consumers or people who they give money to that they loan money to they'll charge them interest rates that are around the same area as the Federal Reserve interest rate guidelines. So that's one aspect of the Federal Reserve in addition to that it can. It's also responsible for introducing money into economy so the Federal Reserve helps to sell bonds. I E drawing money into the Federal Government but in economic downturns the Federal Reserve also buys bonds so therefore advise that bond back it gives money to the consumer whenever the consumer economy have less money than usual and that way the Federal Reserve is giving its money to the consumer and that we'd economy has more money within so if we think back to more recent event than the Great Depression immediately what comes to mind is the two thousand eight recession and we think about that. Did the Federal Reserve have a major impact on alleviating the two thousand eight recession? And so the answer to that. Is that during this time? The Federal Reserve cut interest rates and it did purchase the debts of some struggling corporations. But the problem the would that happen with the Federal Reserve during this time is that the Fed began cutting interest rates in two thousand seven. They thought the economy slowing down. So therefore they decided to cut those interest rates but in two thousand eight was when the problem really hit that was when the economy entered recession territory. And so by the time we were in mid two thousand eight inflation had already started increasing because of those interest rate cuts from two thousand seven that the Federal Reserve's hands were tied behind. Its back to cut interest rates further so the Federal Reserve couldn't do anything with the interest rate aspects beyond two thousand eight. But what they did do was they injected four trillion dollars to the US economy through the purchasing of bonds. Like I mentioned before so. The Federal Reserve played a notable impact in the two thousand and eight recession. All beat not as much as it probably would have liked to given that the interest rate cuts from two thousand seven did significantly hamper. It's ability to affect change in two thousand eight and now we that leads us back to where we are today where we have the krona virus or cove in nineteen and as we've all seen within the last month the massive economic downturn that has occurred and so we've been hearing within the news that the Federal Reserve is thinking of or rather not thinking but it's already taking action and so this action that the Federal Reserve has taken have has already been that they've cut interest rates to zero so the official Federal Reserve Interest Rate Range is zero percent zero point twenty five percent. That's already been done. It happened two weeks ago so Federal Reserve is already on top of that but the problem is and we don't want to run into a similar problem faced with interest rates in two dozen eight so the Federal Reserve is planning to to inject economy money into the economy. Even faster this time than it did in two thousand eight and what you have right now with the current viruses. No one is really willing to lend money what you're seeing. The stock market is that people are dramatically selling their positions in order to get cash back and no one wants to lend money to the corporations. No one's going. Outside of their homes people are told to stay indoors so with no one lending money then that means someone has to and so. The Federal Reserve has announced that it will purchase treasury in corporate bonds in order to lend money and this is pretty significant because a the federal reserve has never delved into corporate bonds before Sadat is pretty. That's a pretty significant action. Additionally I've read that the Federal Reserve is even announcing that it will purchase around seventy five to fifty billion dollars worth of bonds each day if we calculate that over the next two weeks to four weeks. Then we're going to massively out. Then we're going to have a lot more money than four trillion dollars which is how much the Federal Reserve put in in two thousand eight recession. So that's where we are today in terms of the Krona virus and the Federal Reserve's Halsey and it stands on alleviating the economic impact..

Federal Reserve Bank Federal Reserve Bank Federal Open Market Committee federal government treasury US Laos New York Boston Spink Board of Governors Chicago Minneapolis Sonali president Atlanta chairman
"federal reserve" Discussed on Business Basics

Business Basics

10:06 min | 1 year ago

"federal reserve" Discussed on Business Basics

"So our Federal Reserve story starts back in the early nineteen hundreds an actually even before. Then see up to this to the early nineteen hundreds we had had a series of major financial panics within the US third major notable ones where the panic of eighteen seventy three following the construction boom. That happened after the civil war. Panic of eighteen ninety three right in the heart of the gilded age and the panic of nineteen o seven and the panic of one. Thousand nine hundred. Seven is the one we're going to focus on but before we do that we look at all three of those major financial events in the intermediate sprinkled in between what was the common denominator between all of them. They all involve banking failures that resulted in prolonged periods of economic depression. And these banking failures were caused by rampant speculation banks made loans to these speculators and ultimately you'd have these speculators creating these economic bubbles and then every these bubbles collapse. These prices became unstable then. The entire market crashed when the bubbles collapsed. So if you go to the nineteen thousand seven panic what happened. In one thousand zero seven so the fallout from the crash of the United Copper Company stock led to the chain reaction of bank runs and you had stock owner trying to make money off of shorting a stock and he miserably failed. He got put into lots of trouble. His reputation got got ruined in his name. Was Mr Auto hines. And so he was a very well connected man him and his brother and they were precedents of several banks around the country especially with New York and so a lot of people they start hearing that Mr Hines and his family are at the head of my bank and if they're going to do this to their company then I might as well take my money out of my bank so all around the country and starting in New York. You start seeing these. Massive Bank runs where people are going to banks and the crowd in line just gets longer day by day hour by hour and you have people standing outside of banks just asking for their money back and banks. How having loaned this money out. Don't have the money to give them so. Banks have little to no liquidity and at the same time they have people asking them for loans so banks are refusing to give out these short term loans and they have dramatically raised interest rates to the people who they do give loans to and these interest rates reached even as high seventy percent which is extremely high to be paying on an inch on bank. So because of this you had people afraid to basically lend money lend money to corporations within stocks or put money into stocks and lend money to those corporations on stock exchanges so within the stock market as well you have low volume so even the stock market the stock exchanges were in danger of shutting down because of the low volume of trade so all these bankers and stock exchange managers within New York City. They all go to the most famous financier in American history at that time and still is to this day probably the most famous financier and his name. One you've probably heard of this J. P. Morgan so. Jp Morgan uses his own money. He's a billionaire and he uses the he gets other billionaires like John D. Rockefeller to pitch in. And what they do. Is they get they say okay? Banks will give you our money. You can use our money to give to people who are asking for their money back and JP Morgan and people like John. D. Rockefeller were extremely well connected. And so what they do. Is They get even the Treasury Department to pitch in a little money as well to these banks and they convince bank managers. You guys are being a little harsh. Come on just give just lower your interest rates. Give reasonable loans to people. So they can trade stocks and the actions of J. P. Morgan here were Sherman had a tremendous impact. Gp Morgan's actions prevented the crisis from becoming even worse than it did. As bad as the crisis was it could have been a lot worse had JP. Morgan not stepped in and rallied his friends in government and as well as wealthy friends to chip in and convinced these bank managers to calm down and alleviate some of the concern caused by the panic so in the aftermath though even though J. P. Morgan had basically saved the problem for becoming a lot worse. There is concerned though about the reliance of private unreal of the government relying on private individuals to have to rescue the entire economy. And the worry was that he S. JP Morgan rescues the economy. But he's also having almost the entire control of the US economy he's controlling almost the entire US economy. The major banks especially in the northeast. Which at the time was a sent. The population hub of the United States and in addition to that. Jp Morgan has a financial immature. And he's growing old he's GonNa pass away within six years and to him. It's like I can't afford to save the economy each time. There's speculation and there's incompetence within the banking industry so he's also desperate for a measure to alleviate this problem in the future so and keep in mind to part of the reason why. Jp Morgan had to step in. And why was the wealthy? Gweat to step been primarily rather than the government was that the US had no central banking system. See back in eighteen. Thirty seven. The President of the United States Andrew Jackson let the Charter for the Second Bank of the United States. The National Bank expire and since eighteen. Thirty seven the. Us has had no central bank no central banking system at all so what GP Morgan and his wealthy friends as well as government officials who are anxious to change this policy. They start working on a proposal Creative Federal Banking System essentially to replace the Central Bank that was abolished in eighteen thirty seven so after howling over various proposals. Jp Morgan ends up passing in nineteen thirteen and it's ultimately in December nineteen thirteen that the Federal Reserve Act is passed and signed is passed by Congress and signed by President Woodrow Wilson and so the initial system that they set up of the Federal Reserve also known as the Fed was pretty insufficient. It was decentralized. So you have the Fed chugging along and then here in the late nineteen twenties fresh off the roaring twenty s when you have the rise of consumerism and a lot more people adopting credit for the Fed decides to raise interest rates in nineteen twenty eight and then in the early nineteen thirties. When after the a? After block Tuesday when the stock market crashed the end these banks are experiencing bank runs. The Fed is making the decision to not give money to these banks which kind of defeats the purpose of why the Fed was set up right if we go back to nineteen o seven. It was ultimately J. P. Morgan and his friends who ended up giving money to banks so they could give to people and they said okay enough of that will have the government do that so they set up the Federal Reserve but then here in the Great Depression the Federal Reserve is refusing to give money to the banks and the reason behind. This was at the time. It was still very polarizing to have the government. Step in and give this much money to private street and overtime. That view has significantly evolved but at the time it was very controversial for the federal government to give money like this and so then the decision was made to not give money to fix and this ultimately does end up prolonging the depression a as long as it did it was only ended by the US entry into World War Two in nineteen forty one and throughout the Great Depression. You have high deflation sue the opposite of inflation where you don't have enough money circulating through the economy and all of this hearkens back to the Federal Reserve's decision to raise interest rates in one thousand nine hundred eighty eight where you had people with less disposable income and so they were less willing to spend on things like entertainment and travel so you had less money going throughout the economy and by the time the Fed realized that they had made a mistake in nineteen twenty eight by raising interest rates. They decide to introduce money. Not but not giving it to banks but by insinuating at through various proposals and they try this in early nineteen thirty one and they do end up releasing some money but the problem is it's too little too late they should have done it much earlier and ultimately.

J. P. Morgan Federal Reserve United States John D. Rockefeller Massive Bank GP Morgan Mr Auto hines United Copper Company National Bank New York Mr Hines
"federal reserve" Discussed on WSJ Opinion: Potomac Watch

WSJ Opinion: Potomac Watch

11:01 min | 1 year ago

"federal reserve" Discussed on WSJ Opinion: Potomac Watch

"Zhigo. I'm here with today. <hes> a buyer lonesome kim strassel. Hello kim hello paul. Let's start with the fed <hes> and <hes> this was a rather remarkable turn of events william dudley the former head for nine years of the <hes> new york the president of the new york federal reserve and that makes him vice chairman of the federal open market committee which determines monetary policy a very significant can player in fed councils for nearly a decade and over the entire obama administration he left <hes> that office in <hes> twenty eighteen but obviously still retains a lot of connections to the fed and he wrote in bloomberg <hes> a remarkable piece basically saying that the federal reserve should not attempt to accommodate <hes> trump's trade policy in any way or the harm from trump's trade policy in any way and let trump suffer the consequences. Let me let me read it. <hes> from the op-ed officials could state state explicitly that the central bank won't bail out it administration that keeps making bad choices on trade policy making it abundantly clear that trump will own the consequences. It's a quences of his actions unquote and then he goes on further. There's even an argument that the election itself falls within the feds purview saying that after all trump's reelection arguably presents a threat to the u._s. and global economy to the fed's independence and its ability to achieve its goals on employment and the inflation if the goal of monetary policy to achieve the best long-term economic outcome then fed officials should consider how their decisions will affect the political <unk> outcome in twenty twenty and quote <hes> kim. I've never seen anything like anything like it either. We've had we had <hes> we ran on our pages about two weeks ago. Op ed by four formal former federal reserve chairman <hes> all making the case that the fed should be independent of politics above above partisan politics and of course that was aimed at donald trump's attacks on the fed which we have criticized as as going beyond what the pale oh. That's rhetoric had done anything other than just parade it. The fed on twitter dudley's basically saying <hes> we should become become an active arm of whoever the democratic party nominates distortionary yeah and he's essentially advocating two things both of which are extort it one. He's suggesting officials should when he says they should state explicitly that the central bank won't bail out an administration that keeps making making bad choices on trade policy. What he's essentially saying is that the fed should be dictating policy choices. I mean essentially he's saying that the fed should be saying. We're you're gonna let the economy tank unless you do the things that we think you should do now. Look we hit that. To'real page also have not been fans <music> of a lot of trump's trade rhetoric and trade policy actions. We think the fed should be making decisions based on prices not on on trade but the the idea that they would come out and explicitly say what policy should be in essence is is the first extraordinary thing and the second thing is suggesting that they should interfere in an election basically and <hes> and and take actions that could potentially harm the economy solely for the purpose of helping to ensure sure that donald trump is not reelected if the goal is indeed a stable and healthy long-term economic system. This is exactly opposite that of what the fed should be doing well to extend that if let's assume that <hes> <hes> the trade policy does do some harm arm to the economy which i think it has done by the way i think it's knocked off about a percentage point of g._d._p. <hes> so far this year some other sales and a half a percent of g._d._p. But it john some harm but let's say that it has a even greater damaging effect and you end up with a fee where the economy going to recession. Is he really saying dudley. They really saying oh well. Let it burn <hes> with all of the damage harm that would do the the the two businesses to average americans arkansas and contrast that with how the fed responded during the obama years <hes> you could argue we did that. Their tax increase was bad policy. You could argue that a lot of their economic regulatory policies were bad policies that hurt the economy but the fed in in that era accommodated those and when the economy needed the stimulus in their view it provided it <hes> now there were some people who wondered if that some of that wasn't political but there was never any overt assertion that was acting politically as there should not been well. It's the over part that it matters right. We've written before in fact about mister dudley and fed and whether or not it was making things happen in in a certain way simply to help the barack obama administration <hes> to you know bond buying to finance its deficit spending <hes> a deadly urged the fed to intervene in markets to boost housing there were things they did but but these actions were taken all along along with the fed maintaining the outward appearance that it was doing this in order to help the economy not in order to help barack obama <hes> and and it's the overt here of saying donald trump is an essence amenaces to the country and the fed should therefore openly join the resistance since <hes> and this this puts fed in very dangerous territory it also puts the fed chair jerome powell in very tricky position because you you know i mean deadly at least he's in private life now but you know jerome powell has to get up every day and there's all this pressure from the president to act in a certain way and when you have former fed officials coming out and saying these things so nakedly it heightens the politicization of the fed and it puts even more microscopic focus on powell and beans whatever action he takes is going to be suggest it was done in order to either help or hurt donald trump one one of we should add that the fed came out with a statement in the wake of dudley's a essay saying that <hes> they rejected the idea <hes> that that it should act in in such a fashion and i think the it was a rather extraordinary response to to an an op ed piece i think it was because of dudley's <hes> recent recent <hes> high stature at the at the at the bank <hes> it re- i agree with you kim a really does complicate things for for palate it it it probably ably we haven't seen a tweet yet from donald trump and i i would be surprised if we don't doubt attacking attacking the fat again and using and using <hes> dudley's speech as a weapon. It's a it's a it's befuddling me. If you spend that much time in the inner sanctum of the fed you become an 'institutionalised unusually. You want to defend the institution so <hes> you're gonna take the positions that are agree with what the fed says publicly i yeah. I don't quite understand dudley's motivation here unless it's <hes> maybe he wants to to <hes> to make himself look good <hes> to the next democratic president who <hes> <hes> could <hes> would have a chance to replace a jerome powell <hes> relatively early and the in his or her term but at this stage i would say that this kind of a bit hurt his chances. Oh yeah it ought to be disqualifying. <hes> <hes> because to know that you were putting in place a person who so openly advocated that politics be a safe function of or a factor in the feds decisions. I mean i don't see how that ever passes scrutiny and how i think could he's done an enormous damage to himself but look i would wager though that what is really as possible think about the extraordinary behavior we have seen on all sides since donald donald trump was elected and donald trump just has that ability he drives people slightly loopy and tribes them to do things that do just break boundaries and often the break boundaries far in excess of anything. They accuse him of doing well. That's an excellent point. This the institute institutions of the united states whether they'd be the press the judiciary the democratic institutions on capitol hill the bureaucracy and so on <hes> the the trump presidency has put all of that under strain <hes> the hyper partisanship of current american politics has put all those under strain and i think the obligation nation of institutions is in this kind of environment is to hold up your principles. It's to stick to your values to stick to the law in in the case of the judiciary not to par some politics on the press. It's to cover an administration fairly not joined the resistance and unfortunately i think a lot of institutions have lost their bearings under trump and i think that's been that's been very destructive and i think dudley's <hes> actions his words here are a a- another illustration of that yeah and you can carry it out. You mentioned the press. Obviously they've very much lost their bearings. <hes> we now oh have daily <hes> people that call themselves regular news people out there opining an opinion and attacking the president and they view it as their duty. You know you look at the judges you mentioned the judiciary all of these nationwide injunctions and departure from you know basic court procedure in order to stop a trump administration action <hes> that their decision to just abandon what is typically deference to the executive branch when they go through rulemaking for instance look at look at the house of representatives <hes> and impeachment talk and the circus has been the muller hearing and and it's just the president is you said engages in a lot of extreme rhetoric at times <hes> but it but it's hard often defying vying kind of institutional actions he takes that rise to the same level as some of the reactions to him. We're talking about the federal reserve. Donald trump and we're going to talk about the opioid settlement a ruling on..

fed donald donald trump trump mister dudley president obama william dudley kim strassel jerome powell united states new york vice chairman democratic party chairman arkansas executive muller
"federal reserve" Discussed on WSJ What's News

WSJ What's News

03:37 min | 2 years ago

"federal reserve" Discussed on WSJ What's News

"As the Federal Reserve looks ahead to the new year officials are considering whether to slow the pace of short-term interest rate hikes, but one of the lessons learned over the course of slowly raising rates since December of twenty fifteen is that smaller moves have a bigger impact on the economy. Joining me now in our studio with more details is Wall Street Journal reporter, rich Louise and sign Rachel. Let's step back for a moment to previous periods of rate hikes, which have been higher. How do they compare with what we're seeing now? So what we're seeing now is the fed has been steadily raising rates for about for three years in when you put it in the context of history, the rate hikes aren't very much, you know, it's not as much as they've hiked in the past. But for variety of reasons, they do seem to be having a pretty big impact on markets on business lending all sorts of things in a way that had not happened in the past. So what are some of the reasons for that wire? Are smaller increases having more of an impact. Well, I don't know if there's a clear cut and dry answer to that. But I think the important thing to think about is the environment that we've come out of. So basically, you had a long long period of unprecedented near-zero interest rates and the economy got used to that. And a lot of things happened because interest rates were essentially near-zero financial products that you know, were cheaper mortgage like mortgages corporate debt loans. You know, other financial products were less appealing to people savings accounts things like that, and you had the fed which also had a huge balance sheet. So all those things created a very specific set of economic conditions. And now that their rates even though they haven't risen that much. They've risen enough to change the the environment. And as you just mentioned. And as you write in the piece for the Wall Street Journal, the Fed's efforts to shrink its portfolio of mortgage and treasury bonds also comes with a lot of unknowns as well, right, right? Yeah. It's it's a very unknown situation, and the they've just been kind of doing it in a careful way and are keeping an eye to see what happens in the question now is what has been happening over the last few months is a ton of market volatility. You know issues with certain types of lending, and you know, the profitability of it. And obviously also have Donald Trump tweeting about break hikes and claiming that they are hindering economic growth. So you kind of are at a moment. Now where people are thinking maybe that the fed could start to change their stance and Rachel as we head into the new year. How does all of this affect consumer borrowing? So a Bank CEO. I I know once put it to me this way. Right back three or SUV, and the fed was was first hiking, and he said, look the first twenty five basis points, the first that's a quarter of a percentage point. It doesn't really matter very much in terms of profits in terms of how consumers behave, but you reach a point where the cumulative effect of the hikes is so great that it changes the way consumers borrow and save money. And I think we are starting to reach that point because of bunch of different types of loans, for instance, mortgages is probably the biggest example, they've become significantly more expensive, and that's hitting home prices..

Federal Reserve Wall Street Journal Rachel Donald Trump rich Louise reporter CEO three years
"federal reserve" Discussed on Stuff They Don't Want You To Know Audio

Stuff They Don't Want You To Know Audio

04:48 min | 2 years ago

"federal reserve" Discussed on Stuff They Don't Want You To Know Audio

"No loans. So I love everything conspiracy, everything from aliens, do they exist? What are they really doing on Plum island? But this one is the real one if I if x us in our everyday life, and so. Pretty deep on this. There's all these theories about and I don't know if you guys came across in your research, but there were three presidents who made a really really hard push to get off the Federal Reserve, Andrew Jackson, ABRAHAM LINCOLN, John F Kennedy. They all have something in common like executive order eleven eleven see ROY right, right? And we're actually are sitting president has made some pretty forward. Comments about getting off the reserve forward comments that guys all class. He has the decorum of a set. Kind of. Yeah. It makes you scratch your head a little bit curious. You know, like, maybe there would be a pattern forming if three isn't enough of a pattern. Oh, we get up to thirty. Thirteen right. Some of that executive order stuff in the theories, depending on where you're reading it. It isn't really based on the stuff that it says it's based on their has more to do with. What was it the whole silver standard today a little more murky than what a lot of these websites claim it to be specifically with Kennedy? Well, also Kennedy had very few friends in the halls of power. It's kind of a situation where it's like, well, if it wasn't shot for one thing here, the other other reasons other multitudes of reasons that people decided it would be cool if he had a hole in his head, which I know is graphic because what happened. That's what happens harsh. That's what happens, but the but to your question, what's really interesting ABRAHAM LINCOLN actually was especially during the civil war fairy opposed to the interest rate that the nation was getting saddled with through banking. And it's kind of weird when we read when it's kind of weird what parts of historical attic dotes are specified. What parts what characters are left blank or vague? Because it's always like Lincoln was pissed. The US was going to be broke Hamilton was pissed that the US owed money to whom you know, those people are often named in specific or in particular, and I'm gonna keep this thought you said in my head if if something happens, then I think we have a lot of dig into do. But obviously, I don't I don't personally want just anyone in the world to get shot. Although statistically, many people did well, we were recording the show. Dark. Sorry, guys. Guns to hang out with me all the time. Here. I need another one. Let's let's take one more question. And then we'll. Doing. Hey, what's up? So first time I time. So yes, this was pretty awesome. This was a birthday gift from my friend Aaron. How? Birthday. So. Hey, what's your what's your name? Mike Kane on the counter three can everybody say happy birthday, Mike? Okay. Why to? Wife's birthday the same day to and her name Kim. So. On the counter birthday, Mike and Kim, sir. One two three have. We didn't ask you to how that's good. Yeah. Thank you might that was recorded, by the way, we reported. That's gonna come out. It's being recorded by the girl that somebody. All right. What's up? What's our birthday, man? So here's my question. I have like seven hundred thousand questions after like being introduced to the world that are you guys? But boy, all right. It's going to be a softball or it's going to be a curveball. So let's say let's go. We started about twenty tiles. We started about Hobo code how difficult is it? To articulate the difference between. Hobo code and Hoda cope. Question. Thanks, guys. One at a birthday wish. Seriously, the whole time you were talking. I thought it was to cope..

John F Kennedy ABRAHAM LINCOLN Federal Reserve Mike Kane executive ROY Kim US Plum island president Andrew Jackson Hoda Aaron Hamilton
"federal reserve" Discussed on Stuff They Don't Want You To Know Audio

Stuff They Don't Want You To Know Audio

02:32 min | 2 years ago

"federal reserve" Discussed on Stuff They Don't Want You To Know Audio

"And so how do we put these algorithms to work to that end? But it's kind of like the trolley problem with Thomas vehicles. Right. So there's a study that came out recently about a Thomas self driving vehicles. The big question is if they have to hit some. One. How do they decide who to hit? Right. Is it is it today? Hit like an average person walking on the street or today elderly right or did he hit a child? Well, it's funny. You mention that. Because I think I think never said that realized that there was a massive pulled on recently. Our species agreed overwhelmingly hit the elderly. Which is really cool for us right now. But keep in mind, we're going to be old when that stuff's everywhere. So so that same question applies to the Federal Reserve. Who like who profits from a certain area of stability. Right. If we can do if we have an algorithm tells us uptick in interest here is very good for this specific part of the economy or this specific demographic there in but very bad for another demographic, then who who programs it to value that question because again, we're a long way off from building artificial mind that can ask why it's solving a problem. And so if that if we have something steering the Federal Reserve before it can ask why it's doing something, then we are setting ourselves up for a very. Very interesting times. I believe is the missile. I would say the pattern recognition of machine learning. Could definitely have some help there to try and predict win financial institutions may be weak or be ready to crash or then how much the interest rate go up or how little in you actually have just a machinist doing that. And looking at the patterns and not actually making decisions, but giving you feedback. I think that's a really good thing. Also, any any algorithm? Run on the student loan problem way, come to the same conclusions that we came to tonight. I'm just saying that is true. Anybody else handover here? Cool. Oh, I see. Oh, I see. Let's do we've got one question here. First. And then you are next or you want to hang out big fan thinks didn't finish college. So.

Federal Reserve Thomas
"federal reserve" Discussed on Marketplace All-in-One

Marketplace All-in-One

02:48 min | 2 years ago

"federal reserve" Discussed on Marketplace All-in-One

"Why you should care if someone new joins the Federal Reserve Board? I'm David Brancaccio in New York. I like to point out that the policy decision, the single policy decision that affects every woman man and child in America is when the fed changes the cost of borrowing by fiddling with interest rates. So it's relevant. I think to all of us when the Federal Reserve gets not just a new board member, but a new vice chair. Richard Clarita is was confirmed by the Senate yesterday he's an academic unlike fed chair. Jerome Powell marketplace's, Nancy. Marshall. Genzer has more Richard Clarita is managing director at depan firm pimco. He's also an economics professor at Columbia University. Clarita was an assistant Treasury Secretary during the administration of George W Bush. He's researched monetary policy, interest rates and exchange rates as fed vice chair. He'll be second in command to fed chair. Jerome Powell who has extensive experience in the financial markets, but not academe like pow Clarita is expected to support. It more interest rate hikes, which President Trump has said. He's not thrilled with chirp. Powell has said repeatedly that the fed makes interest rate decisions based on what's right for the economy, not politics, but President Trump will leave his Mark on the fed board. He'll appoint six out of seven members in his first term. Three of his nominees have been confirmed. Two more are waiting, and there's still one more open seat. Marketplace's, Nancy, Marshall genzer on the fed beat out of our Washington bureau. Now, let's do the gross domestic product. Yeah, there's news. The US economy grew at a four point, two percent annualized growth rates spring into summer. That's a slight upward revision of what was already a strong quarter. David, Kelly is chief global strategist at j. p. Morgan funds. He says, fine, but has his sights firmly on the current quarter is great to see a quarter of four point, two percent growth. I mean, basically the American economy's a tortoise. Now you had, you know, got this burst of sugar and did a bit of sprinting in the second quarter. We've got this four point, two percent growth, but when we look at what's going on in the third quarter, you know, housing starts is so down. Auto sales basically stole dad. So I think rose going to return to about two percent for the third quarter. So you know a little bit of a sprint out of the economy here, but I don't think it's gonna last since you stay. So essentially we should perhaps for guard the spring into summer quarter second quarter as kind of a fluke. Yes, I think so. I mean, we had some very weird trade numbers which which contributed a lot to this. Now we actually think the trades going to be a drag on the economy going forward. As as our imports go up more than our exports. So I think the economy is so down again, but that's okay. You know, this is an old expansion two. We're in its tenth year, so I really don't want the economy to run to house right now. If it did, we'd have more problems. All right. And we're in that second half David Kelly at j.p Morgan funds. Thank you. Anytime..

vice chair Richard Clarita Federal Reserve Jerome Powell Marshall genzer President Trump George W Bush David Brancaccio Federal Reserve Board David Kelly pow Clarita Nancy New York David America US assistant Treasury Secretary Senate
"federal reserve" Discussed on Money For the Rest of Us

Money For the Rest of Us

01:51 min | 3 years ago

"federal reserve" Discussed on Money For the Rest of Us

"Google and i did google the phrase is the federal reserve printing money the first top of the list i page an article by kimberly amadeo in a a online magazine i guess called the balance not heard of it here's what your rights here's the explanation to answer this question is the federal printing money here's the quote when the fed wants to print money it lowers the target for the fed funds rate fed funds rate what banks are required to hold in reserve each night or fed funds or what banks are required to hold in reserve each night if needed bank will borrow fed funds from another bank to meet the requirement the interest rate it pays is called the fed funds rate when the fm oh see the federal open market committee lower target for the fed funds rate it allows banks to pay less for borrowed fed funds since they are paying less than interest they have more to lend a bank would liked lynn every dollar it doesn't have to hold in reserve do banks lend reserves is the fed printing money in the form of creating reserves that banks have and then banks can land she goes on when people say the fetters are prince money they mean it's adding credit to its members banks account or its members bank's deposits the fed buys treasuries and other securities from banks and replaces him with credit all central banks have this unique ability to create credit out of thin air that's just like printing money.

Google fed kimberly amadeo lynn