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Entries in Federal Reserve (120)

Thursday
Apr102014

ALG's Daily Grind - Defund Holder's gun bracelet scheme

6

April 9, 2014

Permission to republish original opeds granted.

Defund Holder's gun bracelet scheme
The Obama Administration wants to spend hundreds of millions of taxpayer dollars to develop a wrist band that has a computer chip which corresponds like a lock and key with a computer chip in a corresponding gun.

Paying too much at the grocery store and at the pump? You can thank the Fed
Since 2000, household median income measured by the Census Bureau has only averaged 1.77 percent growth. In the meantime, the prices of staples like food and energy have been skyrocketing — at 6.8 percent and 16.18 percent, respectively.

Perry and Biggs: The '77 cents on the dollar' myth about women's pay
"Then there is the issue of marriage and children. The BLS reports that single women who have never married earned 96 percent of men's earnings in 2012. The supposed pay gap appears when marriage and children enter the picture."

Thursday
Apr032014

ALG's Daily Grind - Will the Government Accountability Office be allowed to look at the Internet giveaway before it happens? 

6

April 3, 2014

Permission to republish original opeds granted.

Will the Government Accountability Office be allowed to look at the Internet giveaway before it happens?
Commerce Department supports international, "multistakeholders" reviewing the plan to turn over the Internet's most critical functions, but refuses to support Congress merely calling for a GAO study to look into the matter, and is puzzled why anyone would think the transition might result in censorship.

Cartoon: "Victory Speech"

Governor Jindal's health care reform plan is blueprint to ending Obamacare mess
Plan restores market principles to the health system Obamacare is destroying.

First Trust: Fed repudiates Milton Friedman
"[I]f banks expect excess reserves to stay in the system longer, perhaps even permanently, it is almost certain they will become more aggressive about lending even as they move up their expectations of when and how much short-term rates will rise. This, in turn, would boost the money supply sharply, driving up asset prices, economic activity and inflation in the months and years ahead."

Friday
Feb282014

American Principles In Action - Forbes.com: Memo to Stanley Fischer 

Dear Monetary Policy Observer,

With the confirmation of Janet Yellen as Chair of the Federal Reserve, the President has nominated Stanley Fischer for the position of Vice Chairman.  A recent Forbes article by Ralph Benko praises Fischer’s past work advancing economic theory and the possibility for a game changing endorsement of the Centennial Monetary Commission (HR1176/S1895). 

We hope you find this material of interest.

Sincerely,

Nicholas Arnold

American Principles In Action

www.americanprinciplesinaction.org 

 

Pullquote:

Dr. Janet Yellen now has taken over the chair of the Fed.  And President Obama, to great acclaim, recently nominated Prof. Stanley Fischer as Vice Chairman.  Prof. Fischer may be the most distinguished and beloved central banker at work within the world financial system today.

It is not often that central bankers find themselves beloved. Fed Chairman William McChesney Martin famously quoted a writer saying that the Federal Reserve is “in the position of the chaperone who has ordered the punch bowl removed just when the party was really warming up.”  Yet Fischer is beloved.

…Prof. Fischer managed (among many other accomplishments) the astonishing feat of fomenting some civility between the rival Fresh Water and Salt Water schools of economics. Such diplomatic finesse could prove valuable today in a broader, and far more significant, arena.  There is rising impetus in the Congress, embodied by the Brady-Cornyn legislation to create a Centennial Monetary Commission (including one commissioner appointed by the Fed Chair), to take a cool headed fresh look at monetary policy.

It is designed to study empirically the economic outcomes produced, or portended, by monetary policy “based in discretion in determining monetary policy without an operational regime; price level targeting; inflation rate targeting; nominal gross domestic product targeting (both level and growth rate); the use of monetary policy rules; and the gold standard.”  If questioned about this pending legislation during his confirmation hearings it would be excellent if Prof. Fischer will encourage the formation of this commission.  This Commission is the vehicle by which the Congress and the Fed can, without in the slightest compromising the Fed’s independence, cooperate in the crucial matter of maximizing job creation and deficit reduction.

“Dogs bark,” Prof. Fischer. “But the caravan passes on.”

Read the full article here:  http://www.forbes.com/sites/ralphbenko/2014/02/05/memo-to-fed-vice-chair-nominee-stanley-fischer-dogs-bark-but-the-caravan-passes-on/ 

 

 

Tuesday
Feb252014

ALG's Daily Grind - The disintegration of the First Amendment 

6

Feb. 24, 2014

Permission to republish original opeds and cartoons granted.

The disintegration of the First Amendment
From the IRS to the FCC to the SEC, the Obama Administration has engaged in an unprecedented assault on the First Amendment which is accelerating as he expands the reach of government using regulatory powers well beyond their legal limitations.

5 Issues the Republicans must win in 2014
Republicans appeared poised to reclaim the Senate, but are they prepared to win in Congress once they win in their states and districts?

From Bernanke to Yellen: 6 distinct differences in the two Federal Reserve Chairs
Bernanke and Yellen are far more similar in their views of monetary policy than different. Yet, they are not identical in every detail.

McLeod: Canadian Government slams the door in the face of Goliath enviro-supporting Rockefellers
"Just about everyone in the lib-left mainstream media of both Canada and the U.S.A. are shouting rape because of Canada Revenue's 2013-2014 audit of high-profile environmental groups, including the David Suzuki Foundation, Tides Canada, Environmental Defence, the Pembina Foundation, Eqiuiterre and the Ecology Action Centre, among others."

Friday
Feb142014

ALG's Daily Grind - The tea party repealed the debt limit? Really? 

6

Feb. 13, 2014

The tea party repealed the debt limit? Really?
Townhall editor Conn Carroll: "Until Tea Party Republicans realize that their refusal to vote for any debt limit hike plan only empowers President Obama, the debt limit might as well not exist at all."

Cartoon: "I've Got a Pen"

Obama's big freeze for America
An Obama Department of Energy official told the House Energy and Commerce Committee on February 11 that Administration policies aimed at coal fired electric generation would increase the wholesale cost of electricity by 70 to 80 percent.

Leef: After a century of the Fed, it's time to return to constitutional money
"The Founders understood that the new nation would not prosper under an unstable, readily manipulated monetary system and they drafted the Constitution accordingly."