Federal Reserve

The Late, Great Taper Starts With Low Interest Rates as Far as the Eye Can See

Wall Street was all aghast that their quantitative easing was about to disappear.  The FOMC decided to taper in January and now stocks soar.  Why?  Because the taper is minimal and the FOMC announced the federal funds rate will remain an effective zero for much longer than previously estimated.

Volcker Rule Gets Poor Marks Out of the Box

What is the Volcker rule?  The headlines in the press describe a nebulously defined financial regulation as being the second coming of financial reform  Yet the only thing clear about the Volcker rule is who it is named after, former Federal Reserve chair Paul Volcker.  The Volcker rule was a last minute financial regulation rule in an attempt to stop speculative trading by Wall Street.  It has been politicized, lobbied against, delayed, watered down and modified heavily.

Yo, Yellen Round Up

This moment is historic.  For the first time in history a woman is nominated to chair the Federal Reserve.  Assuming Dr. Janet Yellen does a good job, this alone will help millions of women in finance and economics, which to this day is fraught with gender bias and glass ceilings.  She is already inspiring the phrase, Yellenomics and referred to as Bernanke Redux for most perceive the Fed and their policies will not change much in the transition.

BIS Says Party Over for Quantitative Easing

The Bank for International Settlements has demanded Central Banks stop their quantitative easing in hopes of a global economic recovery.  All that has happened is a stock market love affair while the real economy languishes.  BIS has issued their annual report demanding nations deleverage, which is codespeak for austerity.

Foreclosure Settlement Shows 4.2 Million Borrowers Shafted in 2009-2010

The truth comes out on the mortgage fraud settlement.  The OCC announced the payout terms and for most people, they get less than $1,000 out of the deal.  Only in America can one be fraudulently foreclosed on, lose their home, have their credit ruined, only to be compensated less than $1,000 for the ordeal.

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