Two happenings led to my reposting this old post from peterderemigis.net: a man on the PBS Newshour speaking of possible links between The Federal Reserve and U.S. bankers; and its unexpected reappearance these December days in peterderemigis viewer stats.
Eye on the Federal Reserve
June 19, 2014
I’ve been watching responses to Ms. Yellen’s press conference yesterday from 2: 00 till 3: 00 pm. DST, today June 19. Most questioned the veracity of the chairman’s explaining why the reserve had not acted on its own promises to raise interest rates when inflation reached 2%, or when the unemployment rate declined to 6.5%. Yesterday according to BNN, inflation in the U.S. was 2.1%, and unemployment was 6.3%. Interest rates were not increased, and the chairman’s statements seemed to indicate that the federal reserve would not begin raising rates until well after its bond buying actions ended. Interestingly I have not been made aware of any objections to Ms. Yellen’s view that recent stock exchange record heights, such as the record achieved by the “S & P” were historically typical. Apparently recent Fed Chairs and according to Brendan Brown, many noted European and American Economists have yet to seriously consider his notion of “asset price inflation” resulting from what he calls “QE infinity”
I originally put out “Aint No Inflation Here!” posted on today’s date precisely one year ago at peterdermigis.ca. Considering Ms. Yellen’s press conference yesterday; not much has changed since Bernake’s press conference last year, except for Ms. Yellen’s elasticity about the point at which inflation and employment will affect interest rate policy: both spoke similarly about employment, inflation, and interest rates.