Above Photo: Kurtis Garbutt / CC BY 2.0. Here’s How. The central bank has the tools to help American families suffering from rising food and energy bills right now, with a bit of updating to its rules. Inflation is plaguing consumer markets, putting pressure on the Federal Reserve to raise interest rates to tighten the money supply. But as Rex Nutting writes in a MarketWatch column titled “Why Interest Rates Aren’t Really the Right Tool to Control Inflation”: It may be heresy to those who think the Fed is all-powerful, but the honest answer is that raising interest rates wouldn’t put out the […]
Fed
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Why The Fed Needs Public Banks By Ellen Brown, ScheerPost.com. December 2, 2020 Why The Fed Needs Public Banks2020-12-022020-12-02https://popularresistance-uploads.s3.amazonaws.com/uploads/2017/12/popres-shorter.pngPopularResistance.Orghttps://popularresistance-uploads.s3.amazonaws.com/uploads/2020/12/fed-e1606925552730.jpg200px200px Above photo: Kurtis Garbutt/Flickr. The Fed’s policy tools – interest rate manipulation, quantitative easing, and “Special Purpose Vehicles” – have all failed to revive local economies suffering from government-mandated shutdowns. The Fed must rely on private banks to inject credit into Main Street, and private banks are currently unable or unwilling to do it. The tools the Fed actually needs are public banks, which could and would do the job. On November 20, US Treasury Secretary Steven Mnuchin informed Federal Reserve Chairman […]
Federal Reserve Chairman Jerome Powell will speak next week as part of a panel on the future of cross-border payments at the International Monetary Fund’s (IMF) annual meeting. Source link
The seven central banks, along with BIS, have released a report setting out agreed core objectives that must be met by national digital currencies. Source link
A monthly recap featuring conversations with Luke Gromen, Raoul Pal, Tavi Costa, Sven Henrich, Corey Hoffstein and Michael Saylor. Source link
Lael Brainard, who has been involved with the Fed’s efforts to research a digital dollar, is seen as an ideal choice, Bloomberg sources said. Source link
Bitcoin’s price continues to move up, with a little help from the U.S. Federal Reserve, while ether traders are hedging in the options market. Bitcoin (BTC) trading around $10,979 as of 20:00 UTC (4 p.m. ET). Gaining 2% over the previous 24 hours. Bitcoin’s 24-hour range: $10,662-$11,099 BTC above its 10-day and 50-day moving averages, a bullish signal for market technicians. Bitcoin trading on Coinbase since Sept. 14.Source: TradingView Bitcoin hit as high as $11,099 on exchanges such as Coinbase Wednesday after the U.S. Federal Reserve announced it was keeping interest rates near zero until maximum employment is achieved. The price lost […]
With the Fed’s decision on rates due later Wednesday, bitcoin traders will be watching the U.S. dollar action. Source link
In the latest episode of the Keiser Report, Max and Stacy analyze a recent policy shift announced by the US Federal Reserve and compare it with a fraudulent scheme. Max referred to reports about the latest Uber scam called “vomit fraud.” After dropping off a client some drivers claimed passengers made a mess in the back seat, fraudulently charging them a cleaning fee under the terms of the app agreement. “There is plenty of vomit fraud in the United States’ economy and its perpetrated by the Federal Reserve bank … We’re being charged for the vomit fraud,” Max Keiser said as […]
There has been no shortage of epoch-changing twists so far this year. I mean, seriously, take your pick: even aside from the pandemic, we have riots on the streets of American cities, an alarming trade war, negative oil prices and gold briefly above $2,000/oz. These are just some of the loud, headline-grabbing changes that were once unthinkable but now form part of our new normal. A much quieter shift, but equally transformative, started to make its presence more felt on Thursday, when the Chairman of the U.S. Federal Reserve, Jerome Powell, outlined a new focus for the institution: inflation will […]
Federal Reserve Chair Jerome Powell did not raise many eyebrows Thursday morning when he announced the U.S. central bank would encourage some periods of inflation above its 2% target in certain circumstances to boost the long-term economy. In remarks before a virtual version of the annual Jackson Hole symposium, Powell said the Fed was looking to bolster the labor market, though this is largely an issue Congress would have to deal with amid the ongoing COVID-19 pandemic. The current recession differs from most previous financial downturns because of its underlying cause; namely, lockdowns rather than the after-effects of an overheated economy, […]
https://cdn1.img.sputniknews.com/img/07e4/08/1b/1080288223_0:0:2952:1661_1200x675_80_0_0_3c926a739f6bcc45c1f1631f958ee04b.jpg Sputnik International https://cdn2.img.sputniknews.com/i/logo.png Sputnik https://cdn2.img.sputniknews.com/i/logo.png https://sputniknews.com/us/202008271080288192-wh-almost-1000-national-guard-troops-200-fed-agents-deployed-to-wisconsin-amid-kenosha-protests/ Kenosha became a hotspot for violent protests after the video of police officers shooting the black man named Jacob Blake emerged online. The incident sparked large demonstrations, some of which saw violence, arsons and looting, causing Wisconsin governor to declare a state of emergency. White House press secretary Kayleigh McEnany said, cited by Edward Keenan, a columnist of Toronto Star, that Washington deployed almost 1,000 National Guard and over 200 federal law enforcement personnel including FBI and US Marshals in Wisconsin to help curb the unrest spanning the city of Kenosha after the shooting of […]
A speech by Federal Reserve Chair Jerome Powell scheduled for Thursday offers a reminder of just how dramatically once-slow-moving monetary forces have accelerated due to the devastating economic toll of the coronavirus pandemic. This time last year, President Donald Trump was vehemently criticizing Powell on Twitter for setting interest rates too high, as U.S. economic growth slowed and the national debt swelled past $22 trillion. This time last year, then-Bank of England Governor Mark Carney delivered a speech at the Fed’s annual Jackson Hole Economic Symposium in Wyoming warning the U.S. dollar’s status as the de facto global currency contributes to […]
Portland rioters learned a valuable lesson about how motorcycles cannot stop trucks while attacking a motorist on Tuesday evening. Late in the evening, rioters were attempting to block off a street when a man driving a truck pulled up and attempted to navigate his way through. Instead of letting him pass, they attacked him and his vehicle, slashing his tires, breaking his window, and throwing a motorcycle in front of it in an attempt to block him in. Instead, the man dragged the motorcycle for 12 blocks before stopping and confronting the militant leftists who were chasing him with his gun […]
The Federal Reserve appears ready to pursue yet another untested strategy that could ultimately boost inflation – and possibly prices for bitcoin. The Fed is “preparing to effectively abandon its strategy of pre-emptively lifting interest rates to head off higher inflation,” according to a new report in the Wall Street Journal. The shift signals an explicit willingness by the central bank to tolerate higher inflation, at a time when the spreading coronavirus continues to ravage the economy. The U.S. unemployment rate stands at 11%, a level not witnessed since the early 1940s until this year. The Fed’s extra loosening of monetary policy could help support prices for bitcoin, which many cryptocurrency investors speculate […]
Isaiah Jason Maza A “peaceful” Antifa-BLM protester was charged after assaulting a US Marshal’s Deputy with an explosive device in the recent Portland leftist riots. A Portland man has been charged with assaulting a @USMarshalsHQ deputy with an explosive device during a recent protest at the Hatfield Federal Courthouse. The deputy sustained injuries to both legs. Read more: https://t.co/vNT42vq6vJ pic.twitter.com/1Tm8pTQB7L — U.S. Attorney Oregon (@USAO_OR) August 3, 2020 The Justice Department reported: TRENDING: “Why Are You Going Out of State? I Can See It at the Airports!” -Ugh- Watch NM Governor Grisham Lecture Her Constituents Like Mom (VIDEO) U.S. Attorney Billy […]
On Friday, President Donald Trump threatened to ban TikTok through an executive order, leaving the popular Chinese video sharing platform scrambling to find a way to save its US market presence. US Secretary Mike Pompeo has stepped up the attack on TikTok and other Chinese software companies, claiming the video service is being used by communists to spy on ordinary Americans. “These Chinese software companies doing business in the United States, whether it’s TikTok or WeChat, and there are countless more…are feeding data directly to the Chinese Communist Party, their national security apparatus,” Pompeo said, speaking to Fox News on Sunday. […]
The editor of the Morning Navigator newsletter discusses a variety of macro topics and how to trade against a very strange market. Today on the Brief: The DXY hits a 52-week low Consumers seeking alternatives to cash Bank of England rebuilds settlement system to work with CBDCs Our main conversation is with trader and analyst Tony Greer. In this conversation, he and NLW discuss: The Federal Reserve’s role in increasing inequality How the Robinhood crowd differs from the 1999 bubble Why high-frequency traders might be the real villains when it comes to the retail bubble Why gold is surging even though […]
Fed Guarantees Unproductive Debt And Perilous Speculation By Ralph Nader, Nader.org. July 30, 2020 Fed Guarantees Unproductive Debt And Perilous Speculation2020-07-302020-07-29https://popularresistance-uploads.s3.amazonaws.com/uploads/2017/12/popres-shorter.pngPopularResistance.Orghttps://popularresistance-uploads.s3.amazonaws.com/uploads/2016/04/Federal-Reserve-protest-End-the-Fed-150×112.jpg200px200px Above: Federal Reserve protest End the Fed. The Federal Reserve Board – our unaccountable Central Bank – needs more citizen and Congressional supervision. Fees from financial institutions fund its operations, not Congressional appropriations. It is as secret as it wants to be and that’s plenty. (See Secrets of the Temple: How the Federal Reserve Runs the Country by William Greider). Plus, the Fed can print money at will. In the past several years it has “produced” trillions of dollars that juiced the stock […]
After a two-day closed-door meeting this week, the Federal Reserve issued a six-paragraph statement on Wednesday and held an hour-long press conference. None of that was news, of course, and neither was anything else emanating from the U.S. central bank, which announced no policy changes. You’re reading First Mover, CoinDesk’s daily markets newsletter. Assembled by the CoinDesk Markets Team, First Mover starts your day with the most up-to-date sentiment around crypto markets, which of course never close, putting in context every wild swing in bitcoin and more. We follow the money so you don’t have to. You can subscribe here. But here’s what […]
It looks like LAPD officers have had enough of the violence. An angry mob gathered outside of City Hall in downtown Los Angeles Saturday evening demanding ‘justice.’ Advertisement – story continues below Police officers confronted a female protester standing in the middle of a street when a man rushed in out of no where and tackled an officer, knocking him to the ground. Officers immediately rushed in with batons to subdue the man who assaulted the officer. TRENDING: BLM Protester Fatally Shot in Austin: ‘People Who Hate Us’ Are ‘Too Big of P-ssies to Actually Do Anything About It’ Enter Antifa […]
Democrat lawmakers have asked the government to investigate the deployment of federal officers to Portland, where riots have raged for 50 days. Portland’s mayor went further, blaming the officers for the violence. In a joint letter to the inspectors general for the Justice and Homeland Security departments, New York Rep. Jerry Nadler and two colleagues called on Sunday for an investigation into the Donald Trump administration’s use of a “secret police force” to “suppress First Amendment protected activities” in Portland and elsewhere. Also on rt.com Police union office set on fire as Portland protest descends into riot (PHOTOS, VIDEOS) By “secret […]
Portland has been dealing with ongoing protests and riots since the 25 May death of African American George Floyd while in police custody. President Donald Trump sent federal law enforcement to quell the demonstrations taking over the city, saying, “It was out of control. The locals couldn’t handle it”. Ted Wheeler, mayor of the city of Portland, on Friday urged US President Donald Trump to withdraw federal law enforcement personnel from different components of the Department of Homeland Security and the US Marshals Service deployed in the city to quell the ongoing wave of protests and riots. The mayor told Trump […]
WASHINGTON (Sputnik) – The resurgence of COVID-19 cases is hanging over the US economy like a thick fog of uncertainty, with recovery likely suppressed and job market recovery hurt by the second wave of the pandemic, Federal Reserve Governor Lael Brainard said on Tuesday. “A thick fog of uncertainty still surrounds us, and downside risks predominate. The recovery is likely to face headwinds even if the downside risks do not materialize, and a second wave would magnify that challenge,” Brainard said in a web-streamed speech entitled Navigating Monetary Policy through the Fog of COVID. “It is unclear whether the rapid pace […]
An analytics firm parsing Twitter data in real time for law enforcement and media has been caught funneling detailed info on anti-police-brutality marches to the very agencies users are protesting, despite promises not to. Dataminr, a CIA-funded artificial intelligence startup that mines Twitter’s real-time content stream for behavioral patterns and other analytics, has been caught feeding info on police brutality protesters from that “firehose” stream back to law enforcement. While the developers had promised they wouldn’t enable domestic surveillance after a series of scandals in 2016, Dataminr is once again doing just that, the Intercept revealed on Thursday, slurping up Twitter […]
Guests from the crypto investor Ari Paul to Harvard prof Dr. Vikram Mansharamani discuss bitcoin, the economy and social unrest. June 2020 will go down in the history books as an extremely chaotic and confusing period. In this “Best of the Month” retrospective, we look at some of the best guest conversations from The Breakdown, including: Disclosure The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. Source […]
Multiple media reports say the man who went on a stabbing rampage in Glasgow and who injured six before being shot dead by police, was a Sudanese refugee who had mental health issues and was put over the edge by hostel conditions. The knifeman, identified by the Daily Mail as a Sudanese national named Badradeen, repeatedly complained about his living conditions in the Scottish city’s Park Inn hotel, which had been turned into a shelter for asylum seekers, several British media outlets report. His “erratic” behavior allegedly prompted fellow hotel residents to report the man to a British liaison officer. The […]
Economists at the Federal Reserve said an earlier version of Libra, the Facebook-linked stablecoin frequently targeted by lawmakers and central bankers as an economic wrecking ball, was unlikely to have lived up to its sovereign currency-killer hype. Calling “fears of a so-called global stablecoin” “overstated” in a new report published Monday, economists Garth Baughman and Jean Flemming say policymakers may have focused perhaps too acutely on the likely downside of the previous Libra iteration’s multiple currencies backing a new stablecoin. The pair modeled a so-called basket-backed stablecoin in a hypothetical scenario, evaluating the likely impact that stablecoin would have on the […]
Private entities aren’t needed to build central bank digital currencies, said the head of the U.S. central bank on Wednesday. Federal Reserve Chairman Jerome Powell, speaking before the House Financial Services Committee, said the idea of a digital dollar – a blockchain-based version of the current world reserve currency – is complex, and one that the Fed takes seriously, but also that the idea needs to be studied further before one can be created and implemented. However, in response to a question from Rep. Tom Emmer (R-Minn.), Powell said he believed private entities did not have a role in designing a […]
President Trump nominated Jerome Powell as Federal Reserve chairman, but the president has often criticized Powell over Fed policy. Alex Brandon/AP hide caption toggle caption Alex Brandon/AP President Trump nominated Jerome Powell as Federal Reserve chairman, but the president has often criticized Powell over Fed policy. Alex Brandon/AP Jerome Powell has thrown himself, all guns blazing, into saving the nation’s economy from the grips of the coronavirus recession. And yet the White House heaps ridicule on him. Last week, top White House trade adviser Peter Navarro said Powell had “probably the worst bedside manner of any Fed chairman in history. … […]
Why do these Federal Reserve officials keep crashing the Trump economy?Whose side are they on? Are they with the American people or are they with the globalists? Advertisement – story continues below We all know the answer to this. On Sunday Robert Kaplan, the Dallas Federal Reserve President, joined Face the Nation to discuss the future of the US economy. During his segment Kaplan started lecturing on masks and a second wave to the coronavirus. TRENDING: Oh Brother… Stacey Abrams: “A Man Was Murdered Because He Was Asleep in a Drive-Through” (VIDEO) Kaplan is not a doctor and was sharing his […]
While this week’s sell-off in stocks was steep, the S&P 500 is still up 34% from its March 23 nadir on Friday morning. In other words, the United States’ fiscal and monetary COVID-19 stimulus efforts continue to be heavily favoring hedge fund managers, bankers and corporate CEOs. Meanwhile, as stocks have posted a record-breaking rally, 115,000 Americans have died from a pandemic that forced 38 million others to file for unemployment benefits. This is not only fundamentally unfair, it also highlights how our current capital market system grossly misallocates resources. Failed companies with dire long-term prospects – see Hertz, below – […]
The Federal Reserve expects low inflation, says rates will stay close to zero through 2022 and keeps lying about the role of central banks in increasing inequality. Some key takeaways from yesterday’s Federal Open Markets Committee meeting: On this episode, NLW recaps the above and dives deeper on two of the points: Disclosure The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. Source link
US Federal Reserve Chairman Jerome Powell has toned down the optimism regarding jobs in the country, in stark contrast to President Donald Trump, who recently praised the 2.5 million new work places last month. Source link
Bitcoin saw a quick, short-lived run past $10,000 after the head of the U.S. Federal Reserve said Wednesday that interest rates will remain near 0% until the end of 2022 and its bond buying program would continue. Bitcoin (BTC) was trading around $9,894 as of 20:00 UTC (4 p.m. ET), gaining 1.6% over the previous 24 hours. At 00:00 UTC on Wednesday (8:00 p.m. Monday ET), bitcoin was changing hands around $9,783 on exchanges like Coinbase. Its price dipped to as low as $9,709 at 09:00 UTC (5 a.m. ET) before buying volume picked up, pushing the price above its 50-day […]
WASHINGTON (Sputnik) – The Federal Reserve left US interest rates unchanged on Wednesday in a range of zero to 0.25 percent, saying it will maintain those levels until it was sure the world’s largest economy was fully back on its feet from the debilitating effects of the coronavirus pandemic. “The coronavirus outbreak is causing tremendous human and economic hardship across the United States and around the world”, the Fed said in a statement issued after the conclusion of its two-day Federal Open Market Committee meeting for June. “In light of these developments, the Committee decided to maintain the target range for […]
Federal Reserve officials see U.S. inflation as likely to stay below 2% over the next three years, based on a new summary of economic predictions released Wednesday by the central bank. Prices for personal consumption expenditures are expected to climb just 1% this year, down from a December projection of 1.9%, according to the document. Inflation will average 1.5% next year and 1.7% in 2022, the officials projected. “Weaker demand and significantly lower oil prices are holding down consumer price inflation,” the Fed’s monetary-policy committee said Wednesday at the conclusion of a two-day, closed-door meeting. The Fed made no change to its […]
Central bank digital currencies might one day replace commercial banks. But that comes with risks, according to new research from the Federal Reserve of Philadelphia. The 32-page research paper – titled “Central Bank Digital Currency: Central Banking for All?” – investigated the implications of an account-based central bank digital currency (CBDC), focusing on its potential competition with the traditional maturity transformation role of commercial banks. “The introduction of digital currencies may justify a fundamental shift in the architecture of a financial system, a central bank ‘open to all,’” the paper, which was published on June 1, reads. Questions posed by the […]
The meme is “money printer go brrr,” but according to this macro expert, central banks have almost no power to actually influence money itself. The conventional wisdom is that central banks are the most important economic actors in the world. Markets hang on their every word. Yet, what if that power has less to do with actual monetary policy and more to do with how the performance of that policy creates a self-fulfilling prophecy as market actors respond to media coverage? Jeff Snider is the head of global research at Alhambra Investments. In this conversation, he and NLW explore: Disclosure The […]
The US Federal Reserve’s balance sheet could skyrocket to more than $9 trillion by the end of this year, amid massive interventions to shield the economy from the coronavirus pandemic, according to the Financial Times. RT’s Keiser Report looks at the chart, showing that in 2007 there was “barely anything” on the Fed’s balance sheet. “The crisis hit in 2008 and you see the injustice of bankers getting bailed out when the rest of the economy was getting nothing,” says Stacy Herbert. Max Keiser says: “We know almost without doubt that it is going to over $20 trillion, it is going to […]
After bitcoin’s much-hyped halving failed to generate a price rally, crypto traders are already turning to a new bullish investment thesis: the possibility the Federal Reserve might cut its benchmark interest rate below zero. Fed Chair Jerome Powell said in a televised interview Wednesday that negative rates are “not something that we’re looking at.” The remark disappointed U.S. stock traders who were hoping for an easier monetary stance, helping to send the Standard & Poor’s 500 down by 1.7% to a three-week low. You’re reading First Mover, CoinDesk’s daily markets newsletter. Assembled by the CoinDesk Markets Team, First Mover starts your day with the most up-to-date […]
2,000 former DOJ, FBI officials call on Barr to resign over Michael Flynn case …by Jim W. Dean, VT Editor [ Editor’s Note: Well this was a breath of fresh air. We often see retired federal justice department and law enforcement people keeping their heads down so as not to be blackballed for employment in their post government careers. This group claims to have 2000 signatures early in the game, and I suspect more will join with them as word gets around. God only knows, a lot of the public will be with them, too. Trump has wiped his feet on […]
The US 10-year Treasury bond yield fell 0.7 percent in response to the latest report of jobless claims. That comes a week after the Treasury said it would borrow a record $2.99 trillion this quarter, and launch a 20-year bond. RT’s Boom Bust talks to former Federal Reserve insider Danielle DiMartino Booth about what all that means for the future. “We’re starting to see the actual numbers come out. It’s no longer $25 trillion of debt in theory…” she said. “This is reality, folks. The Treasury will have to borrow a lot of money, and it’s a unique time when the […]