40 Burst results for "Federal Reserve"

Fresh "Federal Reserve" from All Things Considered

All Things Considered

01:30 min | 20 min ago

Fresh "Federal Reserve" from All Things Considered

"Money anytime, anywhere. Capital one. This's banking reimagined, What's in your wallet? Capital One and a And by the listeners of cake. Temperatures tonight in the fifties, maybe some low sixties. Right now it's still warm in parts of the East Bay Livermore in Walnut Creek, still looking at a higher temperature right now 93 In San Jose. It is 88 Sacramento right now, 100 degrees and here in San Francisco. It is 64 degrees. This is all things considered from NPR news. I'm Leyla Faulted in for Michelle Martin. We're going to begin today's program with the chilling news that the United States has now surpassed five million confirmed Corona virus cases. This on top of 160,000 deaths and tens of millions of unemployed Americans. And yet five months after the first wave of lockdowns in the U. S, the country's experiencing roughly 50,000 new cases every day. Scientists say were likely months away from vaccine, meaning the pandemic will continue to rage unless drastic measures are taken to contain it. No. Kashkari is the president of the Federal Reserve Bank of Minneapolis. He has called for a return to mandated lockdowns state by state. For up to six weeks to save both lives and the.

Kashkari Walnut Creek San Francisco Leyla Faulted Federal Reserve Bank NPR San Jose Sacramento United States Michelle Martin Minneapolis President Trump
Fed's Kashkari calls for 6-week economic shutdown to control coronavirus spread

Business Beware

00:35 sec | 7 hrs ago

Fed's Kashkari calls for 6-week economic shutdown to control coronavirus spread

"President of the Federal Reserve Bank of Minneapolis, called for a nationwide economic shutdown of up to six weeks to get the Corona virus pandemic completely under control, warning that the rest of 2020 could be much worse than America has experienced thus far in the New York Times op Ed, he wrote, the next six months could make what we have experienced so far seem just like a warm up to a greater catastrophe. With many schools and colleges, starting stores and businesses reopening and the beginning of the indoor heating season, new case numbers will grow. Quickly using information from the Center for Infectious Disease Research. President

President Trump Federal Reserve Bank Center For Infectious Disease New York Times Minneapolis ED America
Fresh update on "federal reserve" discussed on  Retire with Integrity with Brian Bowen

Retire with Integrity with Brian Bowen

00:55 min | 26 min ago

Fresh update on "federal reserve" discussed on Retire with Integrity with Brian Bowen

"With John Hunt Deal, president of the Federal Reserve Bank of Minneapolis for a nationwide economic shutdown of up to six weeks to get the Corona virus pandemic completely under control, warning that the rest of 2020 could be much worse than America has experienced thus far in the New York Times op Ed, he wrote, the next six months could make what we have experienced so far seem just like a warm up to a greater catastrophe, with many schools and colleges, starting stores and businesses reopening and the beginning of the indoor heating Season, new case numbers will grow quickly Using information from the Center for Infectious Disease Research. President Trump has insisted that states resist the urge to roll back re openings, he said earlier this week when asked about his comments, the country is not going back to shutdown. Aside from the economic shutdown he's calling for. He also called for more stimulus relief from the federal government. This is use a radio news can the daily recommended servings of fruits and vegetables fit into just six capsules. Yes, we start by sourcing organically grown whole fruits and vegetables. We ensure they're picked at peak ripeness. All of our produce is third party tested for pesticides, heavy metals, bad bacteria and nutrients. There, then washed, cut and put through an advanced vacuum cold process, which removes the water using pressure. This maximizes the nutritional value while preserving the color smell and taste of the fruit, vegetable. The freeze. Dried food is then ground into a fine powder without adding any additives, fillers or extracts. Thes powdered foods.

Donald Trump President Trump Federal Reserve Bank Center For Infectious Disease John Hunt Deal New York Times Minneapolis ED America
Russia, China and Iran seeking to influence US ahead of elections, top intelligence official says

Masters in Business

00:41 sec | 1 d ago

Russia, China and Iran seeking to influence US ahead of elections, top intelligence official says

"Better question Might be. WHO doesn't Russia is engaged in a disinformation campaign targeting former Vice President Joe Biden a soon to be Democratic presidential nominee that word from the office of director of National Intelligence in a statement from its expert on election security at the same time, according to the statement, China and Iran are looking to spread disinformation. You heard President Trump's chances of re election providing though the Russia efforts seem to include help with spreading stories about Hunter Biden the approach of Moscow, Ukrainian officials The Senate Government Affairs Committee, led by Ron Johnson, and specifically launched an investigation into the Biden's in Ukraine. But Costantini Washington the Federal Reserve says

Hunter Biden President Trump Ukraine Vice President Senate Government Affairs Comm Federal Reserve Ron Johnson Moscow National Intelligence Costantini Washington Director Iran China
Fresh "Federal Reserve" from WBSM 1420 Programming

WBSM 1420 Programming

00:51 min | 2 hrs ago

Fresh "Federal Reserve" from WBSM 1420 Programming

"No serious injuries reported hours after the most powerful earthquake and more than 100 years hit North Carolina near the Virginia State line. This morning, a 5.1 magnitude the epicenter near Sparta, North Carolina Mayor West Bernie guard. It was like riding one of those waves. Uh, we're just lift you up and sent you back down and sounded like a locomotive actually going by the house going to Fixem quake caused road cracks and structural damage in Sparta growing a new record set here in Jerusalem as 20,000 Israelis came out to protest against Prime Minister Benjamin Netanyahu over what they see as his failed economic response to Cove in 19 NBC's Jordana Miller in Jerusalem heads rolling after these Beirut protests. ABC is Julian McFarland. After a devastating explosion killed more than 150 people and wounded thousands devastating areas of the city. Thousands of people took to the streets and angry protests in Beirut Saturday night, storming government buildings and demanding the government resign This morning, the information minister handed in her resignation, cash or credit cards in a pandemic. The answer might be surprising to you says ABC is Daria Aldinger. Federal Reserve says Americans use their cards less again last month, continuing a trend that is now four months in the making, and with A lot of people a little shall we say, uneasy about touching money during the pandemic? The feds says. It's really a sign that we just aren't spending as much asses ABC News Ready to create your own income with your own home based business where there's no such thing is getting laid off. If a billionaire entrepreneur spent five years in $20 million searching for the next big trend, wouldn't you want to know what he found? If you're serious about making money from home without having to leave home, then write this down? Www dot go here next dot com.

North Carolina Beirut ABC Sparta Jerusalem Abc News Prime Minister Federal Reserve Julian Mcfarland Benjamin Netanyahu Jordana Miller Daria Aldinger NBC Cove
Fed's Main Street pandemic support program off to slow start

WBBM Evening News

00:37 sec | 2 d ago

Fed's Main Street pandemic support program off to slow start

"The feds. Main Street Pandemic Support program is apparently off to a slow start. The Federal Reserve says it made just ate loans in the main street lending programs first month of operation. The Fed made the disclosure in its first report on the program Thursday. The main street lending program is designed to help small and medium sized companies get through the pandemic. The Fed has said it can provide up to $600 billion to cash strapped companies through the program. But so far it provided $76.9 million in loans and starting operations July 6th. Under the program, banks make the actual loans, but the Fed will buy 95% of the

Federal Reserve
Fresh update on "federal reserve" discussed on News, Traffic and Weather

News, Traffic and Weather

00:48 sec | 2 hrs ago

Fresh update on "federal reserve" discussed on News, Traffic and Weather

"Prime Minister Benjamin Netanyahu over what they see as his failed economic response to Cove in 19 Jordana Miller in Jerusalem heads rolling after these Beirut protests. ABC is Julia McFarland after a devastating explosion killed more than 150 people. And wounded thousands devastating areas of the city. Thousands of people took to the streets and angry protests in Beirut Saturday night, storming government buildings and demanding the government resign This morning, the information minister handed in her resignation, cash or credit cards and a pandemic. The answer might be surprising to you says ABC is Daria Aldinger. The Federal Reserve says Americans use their cards less again last month, continuing a trend that is now four months in the making. And with a lot of people a little shall we say, uneasy about touching money during the pandemic? The feds says. It's really a sign that we just aren't spending as much. ASU's ABC News Come on news. Time is 304 Let's check our Cuomo traffic..

ABC Beirut Prime Minister Benjamin Netany Abc News Julia Mcfarland Jordana Miller Federal Reserve Daria Aldinger Cuomo Jerusalem ASU Cove
Fed's Main Street pandemic support program off to slow start

AP News Radio

00:42 sec | 3 d ago

Fed's Main Street pandemic support program off to slow start

"Hi Mike Rossi a reporting the fed issues its first report on a program designed to help businesses during the pandemic a six hundred billion dollar federal reserve program designed to help small and medium sized businesses during the pandemic made just eight loans in its first month of operation the fed reports it provided seventy six point nine million dollars in loans since July sixth the largest loan for fifty million dollars went to a casino operator in mount Pocono Pennsylvania the main street program requires borrowers to make commercially reasonable efforts to keep their workers but it doesn't require businesses to re hire any laid off workers Thursday's report came one day ahead of a congressional oversight hearing on the program Mike Rossi a Washington

Mike Rossi FED Mount Pocono Pennsylvania Washington
Fresh update on "federal reserve" discussed on Leo Laporte

Leo Laporte

00:49 min | 5 hrs ago

Fresh update on "federal reserve" discussed on Leo Laporte

"Comcast. Does this a lot of companies now do it. They're providing WiFi service to people walk by through your router. Thank you very much. May not be that you do your listening to K f I am 6 40 more stimulating talk news is next, okay? On the hand and when it breaks I'm Robert Newton Life from the CAF I 24 hour news. Your military officials in San Diego are preparing to transfer the remains of seven Marines and a Navy sailor to Dover Air Force Base in Delaware to re prepared for burial. The remains were recovered Friday after the Marines and sailors went missing near San Clemente Island when they're amphibious vehicle sink during a training mission last month. Pastor Rob McCoy of God Speak Calvary Chapel in Newbury Park has defied the temporary restraining order. The judge told the church not to hold large indoor services in violation of Corona virus closure orders. Pastor McCoy has light a worship service this morning at 9 a.m. A service has started at 11 a.m. and he will lead 1/3 service at 1 p.m. President and CEO of Federal Reserve Bank of Chicago, Charles Evans says it's critical. Congress passes another stimulus package. Fiscal policy has been unbelievably important and supporting the economy during the downturn that we've been experiencing the economy closed down in March and April. And fiscal policy swung into action very quickly with the care, Zack. Evan says public confidence is key so people can have a sense of safety. When trying to return to normal for the latest on businesses open and closed across Southern California, you can check out our website Cafe am 6 40 dot com Keyword open The news is sponsored by Mike Diamond. The smell good plumber Con Edison says they will reimburse customers without power for spoiled food. About 32,000 city residents are.

Pastor Rob Mccoy Marines Con Edison San Clemente Island Dover Air Force Base God Speak Calvary Chapel President And Ceo Robert Newton Comcast. San Diego Charles Evans Southern California Mike Diamond Newbury Park Federal Reserve Bank Zack Evan Delaware
Fed's Main Street pandemic support program off to slow start

AP News Radio

00:39 sec | 3 d ago

Fed's Main Street pandemic support program off to slow start

"Hi Mike Ross you're reporting the fed's mainstreet pandemic support program is off to a slow start the federal reserve says it made just eight loans in the main street lending programs first month of operation the fed made the disclosure in its first report on the program Thursday the main street lending program is designed to help small and medium sized companies get through the pandemic the fed has said it can provide up to six hundred billion dollars to cash strapped companies through the program but so far it provided seventy six point nine million dollars in loans and starting operations July sixth under the program banks make the actual loans but the fed will buy ninety five percent of the loan Mike Rossio Washington

Mike Ross FED Mike Rossio Washington
Sen. Bernie Sanders calls for tax on billionaires' gains during the pandemic

Squawk Pod

02:38 min | 3 d ago

Sen. Bernie Sanders calls for tax on billionaires' gains during the pandemic

"A major milestone for the Nasdaq on Thursday the index briefly crossed eleven thousand for the first time ever the Nasdaq them closed out the day a hair below that eleven km milestone, a record high that's the indexes six record close in. So. Far, the Nasdaq is clocked a record close thirty one times in twenty twenty. It's remarkable run for the and exit especially considering what a hit like the rest of the stock packet back in. March. Clearly, the Nasdaq is come back with ferocity it's gained about twenty three percents alone the S. and P. Five hundred and the Dow Jones indices have each clocked day winning streak and the S&P is now near percentage points away from his own twenty twenty. Of course, record highs in the marketplace seem at odds with the troubles were seeing a real economy small and medium businesses are shuttered big retailers bankrupt individuals and entrepreneurs are anxiously awaiting more government relief according to some as you'll hear, the disconnect is in part due to the Federal Reserve's unprecedented actions throughout the pandemic. And investor competent that the Fed will continue to support the markets. One former presidential candidate is calling for billionaires to step up to the real economy. Here's duckie quick Senator Bernie Sanders he is now. Calling for a crackdown on billionaires, this is what he tweeted last night. I will be introducing legislation tomorrow meaning today to tax the obscene wealth gains billionaires have made during the public health crisis. The senator tweeted a thread explaining his proposal saying while over thirty million. Americans. Have seen their six hundred dollars a week and unemployment benefits. Expire emergency actions taken by the Federal Reserve to prop up the stock market have meant that four hundred, sixty, seven billionaires saw their wealth go up by over seven hundred and thirty billion dollars since the pandemic began while Amazon is denying paid sick leave hazard pay personal protective equipment to four, hundred, fifty, thousand of its Workers Jeff Bezos has increased his wealth by over seventy billion dollars. Amazon shares are up more than seventy percent year to date. You can see this morning down by about twelve dollars. Senator Sanders also calls out Walmart's Walton family. Tesla's Elon Musk and facebook's mark Zuckerberg for making billions of dollars during the pandemic, and then trying to juxtapose that with what they've done for some of the workers along the way he then said by taxing sixty percent of the wealth gains made by just four, hundred, sixty, seven billionaires. During this pandemic, we could guarantee has a right for an entire year and billionaires would still be able to pocket over three hundred, ten billion dollars gains during the worst downturn since the Great Depression.

Senator Bernie Sanders Federal Reserve Amazon Senator Mark Zuckerberg Elon Musk Walmart Jeff Bezos Tesla Facebook Walton Family
Black Owned Small Businesses Disproportionately Hit by COVID-19

WBZ Afternoon News

00:28 sec | 4 d ago

Black Owned Small Businesses Disproportionately Hit by COVID-19

"Report finds that Cove in 19 has hit black own small businesses disproportionately a new study from New York Federal Reserve banks as black owned businesses are twice as likely to fail as the virus crisis continues. The biggest reason. Many black owned businesses are heavily concentrated in cities that have been hardest hit by the pandemic. As a result, scores of black barbershops in salons, restaurants and specialty boutiques have been forced to close for good.

New York Federal Reserve Cove
New York Fed: Black-Owned Business Hard Hit by Pandemic

Newsradio 950 WWJ 24 Hour News

00:29 sec | 4 d ago

New York Fed: Black-Owned Business Hard Hit by Pandemic

"Black owned businesses. A new study from New York Federal Reserve banks as black owned businesses are twice as likely to fail as the virus crisis continues. The biggest reason. Many black owned businesses are heavily concentrated in cities that have been hardest hit by the pandemic. As a result, scores of black barbershops in salons, restaurants and specialty boutiques have been forced to close for good. Maria Garcia, a CBS News New York Following a primary victory last night. Dearborn Congresswoman

New York Federal Reserve New York Maria Garcia Dearborn CBS
Coins and Cash: Shortages, Hoardings, and Threats

Money For the Rest of Us

03:54 min | 4 d ago

Coins and Cash: Shortages, Hoardings, and Threats

"Walking money for the rest of us. This is a personal finance show on money how it works how to invest it, and how to live without worrying about it. I'm your host David Stein today's episode three, Zero Eight. It's titled Cash Coins. shortages. Forty and threats. Weeks ago, my daughter and I were at a bakery buying a couple of loaves of bread. We didn't have the exact change and they didn't have the coins to make chain. So they rounded down, we got a small discount. This week I was going through the McDonald's drive through, and there was a sign that said due to treasury shortage of coins, use credit or debit cards. Round up to the nearest dollar, donate the different to Ronald McDonald house charities or use exact change on cash transactions. There is a coin shortage in the US right now. Federal Reserve Chair Jerome Powell told Congress last month. What happened is that with the partial closure of the economy, the flow of coins through the economy, it has gotten all. It's kind of stopped. We've been aware of it. We're working with the meant to increase supply while working with the reserve banks to get this apply to where it needs to be. The Agency of the US Treasury responsible for minting coins is the US. Meant it was established in seventeen ninety two by Congress when it passed the coinage Jack and it chose Philadelphia as the site of the I meant. Now, the US mint operates production facilities in Philadelphia, San, Francisco Denver, and West Point. Every two years, Congress requires US Treasury to give a report on the US mint its budget and its cost to produce its coins. In twenty twenty, the US meant projected that it would produce fourteen billion circulating coins. Including eight and a half billion pennies. One point, three, billion Nichols two point, four, billion times. One Point, eight, billion quarters. Now. Due to the coronavirus pandemic, the US mint cut back production of circulating coins in March and April. Year to date through July, they had produced eight point, two, billion coins. They said, they were back up to full capacity by mid. June anticipate producing one point six, five, billion coins per month. That would equate eighteen point, one, billion coins. But here's the thing about circulating coins in the US and other countries. The meant only contributes a relatively small percentage of the new circulating coins each year twenty, nineteen, it was seventeen percent. New. Coins. Going into the supply chain? The remainder came from third party coin processors are recyclers as individuals by things they get back and there are machines where you can put your spare change and it will sort it and this recirculating process. Make sure there is a sufficient supply of coins that has broken down. A couple of weeks ago, meant issued a bulletin, which said, we ask that the American. Public start spending their coins, depositing them or exchanging them for currency at financial institutions or taking them to a coin reduction kiosk. The coin supply problem can be solved with each of us doing our part. This isn't the first time that there has been a coin shortage. There was one in the early nineteen sixties in the US.

United States Us Treasury Congress Twenty Twenty Ronald Mcdonald West Point David Stein Federal Reserve Mcdonald Jerome Powell Nichols Philadelphia Francisco Denver SAN
Pandemic Economic Impact in Florida

Brian Mudd

03:02 min | 4 d ago

Pandemic Economic Impact in Florida

"Now, as we continue down the back half in 2020 we are receiving reports showing the true impact of the pandemic across the country, and when it comes to the economy, the news predictably brutal, right hued shop lost income loss loss of businesses. And also, of course loss of tax revenue to government. But there's also been another trend. As bad as the economic impact of the pandemic has been as that veneer is bad, as was predicted at the onset, for example, according to the Federal Reserve, as recently as June So in the final months of the second quarter bed was expecting the second quarter economy to contract by 53%. Now. The actual decline, which was 32.9% huge, No doubt it was record setting, but it was still nowhere near as cataclysmic as the projections right and it looks like we have something similar. Playing out in Florida as well. Give you 90 according to Yelp. There are 3000 small businesses which have been lost in South Florida during the pandemic. These businesses employed approximately 60,000 people, Significant impact. Oh, heck, yes. Big deal. It is bad as earlier projections not even close, given idea well and have projected the Southport a Metro to be the fourth most negatively impacted nationally and that kind of small businesses. Was actually About in line in line with the national average. To the news was better still statewide is reflected through the collection of tax revenues, according to a report from the Urban Institute, State and local finance Initiative. Borders tax revenue, the decline from March through May. It was less than the national average A nationally states reported a 29% decline in revenue here every year. For us to con was 26%. That's right, our states the kind With 3% better than what happened across the country. So Look, I think it was logical to think that Florida would have been won the hardest hit states. Given the reliance and tourism and entertainment, However, that's not playing out. So why I boiled it down to three different factors that are likely behind this first for his economic record performance heading into the pandemic, second snowbirds staying for the summer. And third unemployment benefits totaling more than the average income for those laid off on average in our state, So it's kind of like this with a record low 2.8% unemployment rate in Florida in February, going into this thing that gave us a lot of a backstop. We lose in the second quarter in the normal year, approximately 900,000 snowbirds Many of them stayed. Many of them are still here. And then you have the unemployment benefits for the average 40 in whatever point they successfully navigated. The Boche connect system. And got their unemployment benefits. The average Floridian laid off actually did receive more than they had while they were working before. So these are all economic tail winds that have led to a better than average performance performance in south border

Florida South Florida Federal Reserve Yelp Southport Urban Institute Finance Initiative
New York Fed: Black-owned business hard hit by pandemic

The Conservative Circus

00:46 sec | 4 d ago

New York Fed: Black-owned business hard hit by pandemic

"Owned businesses are the least and black owned businesses, the most affected by the Corona virus pandemic. So, says a new report from the Federal Reserve Bank of New York. The overall number of active business owners fell by 22% from February to April, the largest decline ever. But for black owned businesses. It was almost twice as bad. 41% folded for Latino ex owned. It was 32% Asian 26% but only 17% of white business owners went belly up. The main reason cited in the study. Black owned firms are more likely to be located in Koven, 19 hot spots, the Paycheck protection program reached 20% or less of eligible firms in states and counties with the highest densities of black owned firms. And black owned businesses had smaller financial cushions and weaker banking relationships before the pandemic even hit

Federal Reserve Bank Of New Yo Koven
President of Minneapolis Federal Reserve Bank: We Need a Full Lockdown for One Month

The News & Why It Matters

01:03 min | 5 d ago

President of Minneapolis Federal Reserve Bank: We Need a Full Lockdown for One Month

"Of the Minneapolis Federal Reserve. Bank is calling for America to go into a quote hard shutdown for at least a month because it's necessary to stop the spread of coronavirus and don't worry the government can't afford it. According to this guy who is the president of the Minneapolis Federal Reserve Bank here's what he had to say if we were to lockdown really hard I know I hate to even suggested. People will be frustrated by it. But if we were to lockdown hard for a month or six weeks, we could get the case camp down. So that are testing in our contact tracing was actually enough to control it the way that it's happening in the northeast right now they had a rocky start, but they're doing a pretty good job right now. Now, if we don't do that and we just have this. Raging virus spreading throughout the country with flair ups and local lockdown for the next year or two, which is entirely possible. We're GONNA see many many more business bankruptcies, small businesses, big businesses, and that's GonNa take a lot of time to recover from to rebuild those businesses and then to bring workers back in and re engaged them in the work force that's going to be a much slower recovery for all of

Minneapolis Federal Reserve Ba Minneapolis Federal Reserve America President Trump
The pandemic has been especially hard on Black-owned businesses

Marketplace with Kai Ryssdal

00:20 sec | 5 d ago

The pandemic has been especially hard on Black-owned businesses

"For the last several months we've been watching the pandemic hit. Black businesses particularly hard and a new report from the New York. Federal. Reserve confirms that and look into the reasons why as marketplace's Kristen Schwab reports a lot of it comes down to relationships with banks getting that first round of P, P P funding was running a

Kristen Schwab New York
"federal reserve" Discussed on WSJ What's News

WSJ What's News

04:46 min | 6 d 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 Expands Global Role

WSJ What's News

04:31 min | 6 d ago

Federal Reserve Expands Global Role

"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?

Federal Reserve United States Nick Tim Treasury Our Wall Street Journal Econom
Obituary: Herman Cain

TIME's Top Stories

05:52 min | Last week

Obituary: Herman Cain

"Herman Cain helped define the American black conservative movement. He also set the stage for trump by Philip Elliott. Herman. CAIN remembered the nineteen ninety-six moment that changed his political trajectory as clearly as any in his life. The businessman was advising Jack Kemp's vice presidential campaign and accompanied the boss to the iconic Sylvia's soul food restaurant in Harlem for an event a man in the crowd shouted out to Kane and colleagues Black Republicans, there's no such thing. The. Same Man in canes telling called them Uncle Toms. The episode. So angered Kane that when he got home from that campaign swing, he switched from a registered independent to a card carrying member of the Republican. Party and over the next quarter century, the child of the segregated south became one of the best known black Republicans in the country briefly rising to be his party's presidential front runner for the two thousand twelve nomination and remaining one of the most quotable stars in conservative media. So committed to his party's stick it in the I e host was Cain that he flew to Tulsa. Oklahoma for President Donald, trump's first return to the campaign trail after one hundred thousand US corona virus deaths despite dire warnings from public health experts at that endure rally on June twentieth the stage four colon cancer survivor posed for pictures without wearing a mask and sat in the packed stands with fellow fans of the president on June twenty-ninth Cain tested positive for the corona virus. On July second, his aides announced he had been hospitalized while fighting the disease his twitter account continued to criticize mask wearing and to promote unproven endorsements of hydroxy. On. July. Thirtieth CAIN aides announced he had died from the White House trump attributed the death to the thing called the virus cain among the most prominent Americans to die during this pandemic who was seventy four In many ways, Kane and trump were cut from the same cloth neither had been elected to any political post before running for the White House, both delighted in needling the Republican Party's establishment and the mainstream press they shot from the hip campaigned in slogans and didn't much care to learn the details. Both men were dogged by allegations of sexual affairs and inappropriate behavior, and both denied the allegations they proved disqualifying for Kane who ended his bid in December twenty eleven under intense scrutiny. But they did not derail trump just one election cycle. Later, they were also both savvy exploiters of the media. In saying things they knew would provoke outrage and thus amplify the celebrity at the core of their bids indifference toward if not hostility against what had come before was a cornerstone of their strategy, not a flaw. CAIN was born in Memphis in nineteen forty-five to a domestic worker mother and a janitor father when his dad was hired to be the chauffeur for the head of coca-cola, the family moved to Atlanta where cain would graduate from Morehouse College. He then completed his graduate studies at Purdue University after civilian service in the navy from there Kane moved from engineer to executive with Pillsbury and its subsidiaries of Burger King and Godfather's pizza where he would be its CEO. In nineteen, Eighty Eight, he oversaw Godfather's. From, Pillsbury throughout the same time yelled positions with the Federal Reserve Bank of Kansas City. That part of his resume lead trump to consider cane for a position in his administration a move that drew dissent from fellow Republicans who were not eager to revisit the allegations against Kane for three years. Kane led the national. Restaurant Association a lobbying arm for the industry that paid settlements to at least two women who detailed canes unwanted advances. His was not a typical career in his post. CEO Years Cain became a sought after motivational speaker and unsuccessful presidential candidate in two thousand and a Senate one in two thousand four. As, the tea party movement started to organize after Barack Obama's election to the White House. Kane emerged as one of its strongest spokespeople when the twenty twelve election cycle began kane decided to run the scrappy est of campaigns focused on untrue additional travel schedule that often seemed more like a book tour than an organizing effort. His novel nine, nine nine tax plan proposing a nine percent corporate business flat tax, a nine percent personal income flat tax and a nine percent national sales tax drew I rolls from economists but curiosity from voters. Antipathy toward front runner Mitt Romney proved sufficient to give cain a chance to rise in the late summer and fall of twenty eleven until his personal life just proved too much. But he didn't shrink from podcast life. Instead he became a ubiquitous voice and reliable critic of Democrats

Ceo Years Cain Kane Donald Trump Cain White House Mitt Romney Jack Kemp Pillsbury Philip Elliott Republican Party Godfather Oklahoma Twitter Harlem Barack Obama United States Tulsa
What will be in the next stimulus bill?

Yahoo Finance Presents

06:00 min | Last week

What will be in the next stimulus bill?

"Get right into it. I, want to ask about the economic outlook to get numbers this morning on detail sale showing up pretty nice rebound in June. But then on the other hand, you have seventeen million Americans a still touring to unemployment insurance. And that you couple it with the epidemiological numbers I. Guess I'm just wondering, do you still see the baseline as a recovery in the second half of this year as I? Think you said back can. You highlighted a bunch of cross-currents it were trying to analyze and understand, and of course, the just an enormous amount of uncertainty and the uncertainty really stems directly with the you know the corona virus in the end pandemic and and how that behaves and and how effective and successful the efforts to contain it at the same time to bring the economy. Back up to full speed. So right now, the way I'm reading is still consistent with you know how you described and I've been talking about it. I, expect the second half to be a continued a period of economic recovery. But it's still you know we're in a very deep hole unemployment is over eleven percent. We have a long ways to go to get back to full strength My hope is is though that will continue to see positive signs of a gradual recovery over the second half. Half of this year into next year. But right now, this is camp critical inflection point. We're seeing these mixed signals in different states where the states where the case The number of new cases has been rising or definitely seen people back from going to restaurants, and in other things, wound states like where I am in New York around here, we are still seeing steady improvement in terms of people getting back to work and going out to restaurants and things like that. So it's IT'S A. Complicated situation and were watching all that you know high frequency data very closely to see what's going on. So, something that was interesting from the Beige Book, that was just released yesterday that in New York. This was the case in many other districts as well. Are there were stories of furloughed workers that have now been laid off permanently and I guess I'm wondering what you're seeing specifically in the second district covers New York Arts of new, Jersey Connecticut of Puerto Rico, the Virgin Islands. What are you seeing there? You mentioned also earlier this morning that you think it's going to essential for fiscal authorities. Quote, put cash directly in the hands of Americans based off of what you're seeing the district. What would that look like is that an extension of Ui maybe more picky P, for example. Yes. So what we are seeing and what I'm hearing is definitely that this obviously is a situation where a lot of employers don't have demand for their products and services whether you're restaurants or other. You know businesses They are having to to lay off workers despite their efforts, and despite the PGA and other programs have been there to provide a support of businesses and obviously to the unemployed. And households more generally. So I, I would take to kind of signals from what we're seeing is obviously, this is going to be a longer more drawn out period of getting through the pandemic I. think that you know work businesses are struggling because they don't have revenue state local governments are struggling because they don't have a tax revenue or other sources of revenue right now, and I do think an important lesson of the past few months, the federal actions and I really don't think of this is stimulus that really think of these actions to to help support Basically, grants and transfers to households and businesses has been absolutely critically important it's meant the people who've lost their jobs have been able to continue to pay the ramp of food on the table. It's also the pre program which you know is obviously had his challenges has been I've heard this from businesses or district has been effective and getting money to the small businesses. So they can keep going and hopefully come back. So my lesson from this disease have been effective tools. I'm not saying what Congress should or shouldn't do specifically, but this has been effective at dealing with the situation through July and I think you know are there are lessons to draw from bad in terms of? Guinness. The next six months. In, the meantime, the Federal Reserve has pin interest rates near zero. But I want to chat something fun. Now, forward, guidance right and I know that you can only speak for yourself. But what's your preferred method of messaging to the market? How long you will keep rates at zero bound especially now that there's been this discussion as the minutes of noted of federal. Reserve officials be playing around with the idea of an objective base or guidance that perhaps might be pinned to inflation, for example. Well as you know over the recovery period and the expansion following the global financial crisis, we did use for guidance pretty aggressively and I think very successfully starting in two thousand eleven. We did try different versions of. What we call, you know database versus you know contingent. Guidance and I think what the lessons from that is, you know win market expectations for the public understanding of what the Fed's likely to do gets out of sync with our own thinking for guidance has has proven to be helpful to help people understand how reviewing Monte policy. You know right now I actually think that are are the guidance we have in there, which is maybe more kind of descriptive informal or guidance his serving as well. So we do have some time to think about how we should. Should evolve that guidance is going as we go forward to me. The critical thing is, what's the problem we're trying to solve right now, we're still trying to fit you know all of us were trying to figure out where is the economy going today? Where is it likely to go in and learn from the experience of you over the next few months, and from that position, we can really I think considering and decide what's the best way to describe our thinking around the future path of a Monte policy. And, link that obviously. To our. Objectives of cheating the maximum employment and price stability goals. Now on inflation something. That's interesting that we're hearing from other Fed officials is where do you shoot the target as we know is two percent for the reserve. But what we've seen over the past recovery since is that that has been undershot on, which is hard to kind of stimulate inflation. How does that guide your thinking for

Federal Reserve New York Puerto Rico Guinness Virgin Islands Connecticut New York Arts PGA Congress Monte
BREAKING: Herman Cain Dies Of Coronavirus At Age 74 in Atlanta

The Erick Erickson Show

03:35 min | Last week

BREAKING: Herman Cain Dies Of Coronavirus At Age 74 in Atlanta

"A political consultant who worked for Herman? Cain on his twenty twelve presidential campaign is announcing that he has passed away. from. covid nineteen. That's breaking news here in Y'all I'm not confide. This is not. Confirmed other than through Ellen. And I'm Yup. nope. It's IT's confirmed folks. Herman Cain has died of the corona virus. age seventy four. In Republican presidential candidate in two thousand twelve. Herman Cain ran his platform very famously was the nine nine, nine tax reform plan. He had been Fox. News contributor and a newsmax contributor newsmax is confirming his death He was admitted to the hospital on July first two days after being. DIAGNOSED WITH COVA night teen. Ten Days Prior, he had been at the Rally for the President they they don't know where he got the virus. And Herman Cain has now. Passed away He was the President of Godfather's pizza. He. Rose through the ranks He joined coca. Cola. He worked for Pillsbury. He was regional vice president for Burger, King, which at the time Pillsbury owned and then he took over. Godfather's pizza turned around made it a profitable company. And his big issue is marketing. He became the chairman of the Federal Reserve Bank of Kansas City in Nineteen ninety-five He was in the position for twenty months in nineteen in two, thousand nine you'll recall the president renominated him for the Federal Reserve. Board? He ultimately withdrew his nomination. He dabbled in politics in one, thousand, nine, hundred sixty was an adviser to the Bob Dole Jack Kemp Campaign for President He ran for the Senate in two thousand four. He was defeated in the primary by Johnny Isaacson actually campaigned for him in two thousand four. Now he beat colon cancer it was stage four and two, thousand six he was diagnosed with it the and then from two, thousand, eight, two, thousand, seven, of course, he had the Herman Cain Show in Atlanta? On WSB, I was actually hired in two thousand eleven to replace Herman on WSB Because Herman had decided, he was going to run for president and he had been in the line to replace Neil Bortz they needed somebody to replace Herman as a result. So they hired me Herman off and ran for president. He at one point was the front runner for the Republican presidential nomination, and then he the ultimately lost the nomination and came back to radio has has wound down his career over time and. Herman Cain now dead he was a good man. Seventy four years old affected by coronavirus virus. Prayers for his family. And for for those who knew and loved and worked with Herman Cain God. Bless him.

Herman Cain Regional Vice President Herman President Trump Pillsbury Consultant Newsmax Federal Reserve WSB Ellen Bob Dole Jack Kemp Federal Reserve Bank Johnny Isaacson Neil Bortz Senate Kansas City Burger Atlanta
Why Is There a Coin Shortage in America?

BrainStuff

03:32 min | Last week

Why Is There a Coin Shortage in America?

"At grocery stores, convenience stores and hardware stores across America. Curious signs are popping up asking customers to pay with credit cards, debit cards, or exact change. Is it because cashiers don't want to handle physical dollars and sense that could be contaminated with the coronavirus? nope. It's because the United States is currently experiencing a coin shortage. So? Where have they gone? America's pennies, nickels, dimes and quarters haven't disappeared. The covid nineteen pandemic has simply disrupted the normal cycle of coin circulation. According to the US Treasury, there were forty seven point, eight, billion dollars, worth of coins in circulation as of April twenty, twenty, which was actually four, hundred, million dollars more than April, two, thousand nineteen, but those coins are not moving through the economy like they should be. The Federal Reserve gives several reasons as to why this is happening. Banks and businesses nationwide closed their doors during the lockdown phases of the pandemic including cash and coin heavy sectors like convenient stores, public transit, and laundromats. The US mint also slowed its production of new coins during the early stages of the pandemic as staff was reduced for safety reasons. The men's Philadelphia and Denver Location's. Even as the economy reopened, consumers are opting for contactless payment and generally using less cash and coins. Meaning more coins are sitting at home in Mason, jars piggy banks, and under couch cushions. So. What does this mean? Retail stores are feeling the pinch of inconvenience and passing it along to their customers. The national, Grocers Association and several other retail industry trade groups sent a strongly worded letter to Federal Reserve Chair Jerome, Powell and Treasury Secretary Steve Mnuchin in late June saying that the federal rationing of coin shipments to banks quote threatens the functioning of our member businesses and by extension the needs of our customers. In their letter, the group cited economic statistics showing that cash is still very much can in certain sectors and among certain consumer demographics, for example, between forty five to sixty percent of sales at grocery stores and convenience stores are cash payments, nearly half of all transactions of ten dollars or less are paid in cash and consumers with an annual household income of twenty, five, thousand dollars or less pay in cash for forty, three percent of their transactions. So what's the solution? The long term solution is to wait for the economy to return to normal at which point coins will naturally flow back into circulation. But in the meantime, the Federal Reserve and the US meant are taking action. The meant has ramped up coin production outpacing its usual one, billion coins a month with one point, two, billion coins in June and one point three, five, billion a month for the rest of twenty twenty, according to The New York Times. The Federal Reserve announced in June that it was rationing out its inventory by sending banks and credit unions smaller than normal coin shipments based on historical demand. The Fed also convened an emergency, US coin task, force composed of government and industry leaders including banks, an armored car companies. The task force is expected to come up with a set of recommendations by the end of. July. One of the task forces early accomplishments was to create the Hashtag get coin moving which banks and credit unions are plastering across twitter to encourage people to cash in their piggy banks to get more coins back in circulation.

Federal Reserve United States America Us Treasury Twitter Philadelphia Denver Location Grocers Association Steve Mnuchin Powell The New York Times
"federal reserve" Discussed on Conspiracy Theories

Conspiracy Theories

01:50 min | Last month

"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 | Last month

"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 | Last month

"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 | Last month

"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 | Last month

"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 | Last month

"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 | Last month

"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 | Last month

"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 | 4 months 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 | 4 months 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 | 1 year 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 | 1 year 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 | 1 year 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 | 2 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