Posts filed under “Federal Reserve”
Rand Paul & Janet Yellen
David R. Kotok
Cumberland Advisors, October 25, 2013
There are reports that Senator Rand Paul intends to put a “hold” on Janet Yellen’s nomination for Federal Reserve Chair.
Senator Paul is involved in an absolute act of lunacy. He wants to put Janet Yellen’s nomination on hold in order to force a vote on his Fed Transparency bill.
Fine, Senator Paul, force the vote, but doing it this way will inject disarray into financial markets – and because of a political squabble. You are going to hurt every 401K, every investor, mortgage applicant, builder, and business entity in the United States.
Senator Paul’s website is http://www.paul.senate.gov . His Washington, D.C., and Kentucky telephone numbers are as follows:
Bowling Green: (270) 782-8303
Crescent Springs: (859) 426-0165
Hopkinsville: (270) 885-1212
Lexington: (859) 219-2239
Louisville: (502) 582-5341
Owensboro: (270) 689-9085
Washington, D.C.: (202) 224-4343
If there is ever a time for the American people to say, “We have had enough of this political nonsense,” it is now.
There is nothing wrong with Janet Yellen’s nomination. She is the Vice Chair of the Fed. She has been the president of the Federal Reserve Bank of San Francisco. She has had a distinguished public service career and is a skilled economist. Janet Yellen is an expert in monetary affairs and banking supervision. Furthermore, she was involved in the architecture of the policies that helped save the US and others worldwide in the post Lehman-AIG meltdown.
It is time for citizens to take their country back. One of the ways to do so is to use the telephone now. I already did. If you happen to be from Senator Rand Paul’s state, call his local office and let them know how you feel. He will not answer, but his staff will.
David R. Kotok, Chairman and Chief Investment Officer
Lean, Clean, and In-Between Governor Jeremy C. Stein Lessons from the Financial Crisis for Monetary Policy NBER Conference, FRB October 18, 2013 Thank you. The theme of this conference is, “Lessons from the Financial Crisis for Monetary Policy.” Given the opportunity to speak about this topic, my first thought was that I…Read More
Architect of Japanese Quantitative Easing Policy Says QE HARMS the Economy In the Long-Run … and that the Fed Is Stuck In a QE Trap Fed Policy Is Failing Many top economists have said that quantitative easing doesn’t help the economy. But many argue that – without QE – the economy would be much worse….Read More
click for larger graphic Jim Bianco via Forbes Over the past few days, we have been discussing what the impact of QE has been on the economy. Forbes columnist Bob Lenzer channels Michael Cembalest of J.P. Morgan to dive deeper into that concept and look at what markets have been doing in response…Read More
click for larger graphic Source: Political Calculations Earlier this morning, I suggested that when we consider the results of QE on NFP, we also consider what the world might look like in its absence. (Long term readers might recall I suggested we do the same thing with the bailouts as well, with the…Read More
One of the analytical errors I seem to constantly come across is what I call the non-result result. It goes something like this: If you do X, and there is no measurable change, X is therefore ineffective. The problem with this analysis is the lack of a control group, If you are testing a new…Read More
Greenspan discusses many of the ideas he had reversed himself on regarding the financial requirement.
Note he has adopted my Partner’s Joint & Thesis Liability explanation (from BN) that states the move to Corporate structure from a Partnership radically reduced the focus on risk management.