Fed chair vows to 'do all that I can' to boost weak U.S. economy

Comments (13)
WhyMeLord wrote:

Maybe a 50% cut in her salary, and a 90% cut in all congressional salaries would begin to do the trick; also disband the military.
Now we’re getting someplace; money in our pockets, and no more wars.

Mar 06, 2014 12:11am EST  --  Report as abuse
CF137 wrote:

“…and inflation is too low.”


Yeah…paying $4 for a gallon of gas, $6 for a gallon of milk, $500K for a decent house, $50K for a decent vehicle, and $200K to put my kid through college…is just WAY too low.

Please raise inflation even more so we can all go bankrupt!
Thanks Janet.

Mar 06, 2014 1:08am EST  --  Report as abuse
Robertla wrote:

inflation does not help people who work for wages, retired people, or the unemployed. it makes their life more expensive.

inflation helps leverage junkies, including the government, ….they get to pay off debts with money of less value than what they borrowed……..

the Fed’s job seems to be about keeping leveraged assets, priced at a high dollar value….I suppose keeping loans intact……the ratio of collateral to market value, will retain a safe, cosmetic appearance……and also, creating the illusion that you will always be able to sell your assets for more dollars than you paid to acquire them.

the Fed has learned how to keep investors happy, their asset prices assured, their leverage manageable.

they aren’t helping the economy, necessarily……..but they are enabling a concentration of wealth.

the Federal Reserve serves ‘Capitalism’,……don’t conflate that service with ‘helping the country’ or ‘free enterprise’, or ‘for all Americans’…..serving the ‘public’, is not their job.

Mar 06, 2014 1:45am EST  --  Report as abuse
Robertla wrote:

the Fed basically supports a version of trickle-down economics……..with the typical lack of trickle.

the use of ‘unemployment’ as a benchmark, borders on the the insincere and incredulous..

.quantative easing is a program designed as support for large capital intensive endeavors that use technology or financial leverage, …they, specifically, do not create many jobs.

jobs create wages, wages create consumers, consumers buy things……..the Fed is not really interested in a ‘virtuous circle’ like that….they are enabling the concentration of wealth. period.

Mar 06, 2014 1:48am EST  --  Report as abuse
ppp9988 wrote:

These clowns live in their own world, far detached from the reality. The good news is that their day will come too and it will not be pretty.
The federal reserve is a private bank. Gold backing for the US dollar ? That is since the 70s and Nixon not anymore this way and now we are free to print money. More and more, day and night, 24/7/365.
Who pays ? YOU. Your money is having less and less value. No buying power anymore, even that you work harder than 10 years ago, you cant get anywhere.
Every US citizen owes about 200 000 dollars in government caused debt. If no one believes the US promises of payback, foreign nations will come to collect your land. Perhaps in form of a forced mortgage on your house or land.
Well the good old banks have turned into an organized crime syndicate and we worry about terrorists ? They are less evil than that what is done by the banksters and governments every hour to the world.
There has never, in the history of modern civilization , been any government that cared about its people. It is an institution to rip off people.

Mar 06, 2014 1:49am EST  --  Report as abuse
breezinthru wrote:

Too many Americans who are good at building things are still out of work. We have a lot of bridges that are in disrepair and an electric grid that desparately needs to be upgraded. We have a lot of schools that are not energy efficient and were built in the 50′s and 60′s.

We should upgrade. Putting all those people to work would be much better for the economy than having the Fed buy bonds… but that would mean that Congress would actually have to do something constructive. I think the Republicans will lose some seats in the House if they don’t start making decisions on behalf of people who wish they were working.

Mar 06, 2014 1:51am EST  --  Report as abuse
ppp9988 wrote:

Here are some ideas for the new economic system and order of things.
First we cap the income. No one is allowed to make more than 200 000 USD per year. Next we tax on consumption, not on income.
Incomes are transparent, meaning u can look at a website and see what your neighbor earns and spends. With that there is no need for something like the NSA. I have nothing to hide and so should no one.
A minimum income is guaranteed for everyone, regardless of age or social status. There will be free healthcare and education, because we are humans and not animals. Since we do not need an army anymore – clearly who of these government clowns would have any interest to invade a country where they only can make 200 000 dollars per year,
we could spend all surplus money on helping other unfortunate countries where people still die because no access to clean water, food or medical support.
Of course, Mr. Google, Facebook, Gates and Buffet would run away, but that is alright because these thief take money from the market and do not spend it.
That will bring us to the next point. Money will have an expiry date. You spend it or you lose it. That will keep the economy alive and it will grow in before unseen digits.

Mar 06, 2014 2:03am EST  --  Report as abuse
Newsrocket wrote:

The Federal Reserve System is America’s financial monarchy. America is always being strangled by the private banking system of the fed, even in good times. It is time to throw off the our wealthy oppressors and unleash the productive energy of our people. A publicly controlled banking system is the way to produce a future worth living. Statements like 6.6% unemployment is a darkly tragic fantasy. Unemployment is far, far higher. Underemployment is even worse that smashes the hopes and dreams of young people trying to find meaningful work that challenges their minds and spirits. The wealthy and their Federal Reserve System are PARASITES on humanity. it is way past time to relegate wealthy greedy sociopaths and their Federal Reserve System to the trash heap of history.

Mar 06, 2014 2:08am EST  --  Report as abuse
TetraBall wrote:

Yellen just gave the hint (for the 10th time) that **now** is the time to create notes and move currency. Currency has never been so cheap, and for the entrepreneurs that now want to expand their businesses the time is right now. Not yesterday, not tomorrow, TODAY. Expand, hire, lets do it. With interest rates this low, I don’t know why companies aren’t creating notes and investing in production. The power to make this economy take off is in the hands of the people that have the capacity to move currency towards production. These are the entrepreneurs within the “we the people”. Yellen is just telling you — get your low interest currency now, I’ve been trying to help you here…

Mar 06, 2014 2:32am EST  --  Report as abuse
Bakhtin wrote:

The Fed Chair vows to do her job. Nice.

Mar 06, 2014 2:45am EST  --  Report as abuse
Simplerman wrote:

What good is more money printing gonna do if the weather doesn’t cooperate??

Mar 06, 2014 8:33am EST  --  Report as abuse
JohnTurnbull wrote:

So the Fed targets stable prices and the fed targets inflation. When is someone going to tell them that you CANNOT have inflation AND Stable prices!

Mar 06, 2014 10:35am EST  --  Report as abuse
bernhard-otto wrote:

Great comment. Short jokes are often the best.

Mar 06, 2014 2:29pm EST  --  Report as abuse
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