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January 6, 2014
breakingnews:

US Senate confirms Yellen as chair of Federal Reserve
New York Times: The U.S. Senate confirmed Janet Yellen as chairwoman of the Federal Reserve. She is the first woman to hold the position in the central bank’s 100-year history.

As a Fed official, Ms. Yellen, 67, has been an influential proponent of the Fed’s extraordinary measures to revive the economy, even though interest rates are already close to zero. But as chairwoman, Ms. Yellen’s arduous task will be to oversee the gradual unwinding of those extraordinary measures, despite an uncomfortably high unemployment rate of 7 percent and subdued inflation.
During the confirmation process, senators from both sides of the aisle criticized the Fed for not doing enough to aid the economy and help middle-class Americans, and for trying to do too much, thus distorting the markets and risking new bubbles. …
Despite those objections, Ms. Yellen won confirmation easily. Ms. Yellen will be the first Democratic nominee to run the Fed since President Jimmy Carter named Paul Volcker as chairman in 1979.

Photo: Janet L. Yellen, attending ceremonies marking the Federal Reserve’s centennial in December. (Mark Wilson/Getty Images)

An important position of power, now held by a woman.

breakingnews:

US Senate confirms Yellen as chair of Federal Reserve

New York TimesThe U.S. Senate confirmed Janet Yellen as chairwoman of the Federal Reserve. She is the first woman to hold the position in the central bank’s 100-year history.

As a Fed official, Ms. Yellen, 67, has been an influential proponent of the Fed’s extraordinary measures to revive the economy, even though interest rates are already close to zero. But as chairwoman, Ms. Yellen’s arduous task will be to oversee the gradual unwinding of those extraordinary measures, despite an uncomfortably high unemployment rate of 7 percent and subdued inflation.

During the confirmation process, senators from both sides of the aisle criticized the Fed for not doing enough to aid the economy and help middle-class Americans, and for trying to do too much, thus distorting the markets and risking new bubbles. …

Despite those objections, Ms. Yellen won confirmation easily. Ms. Yellen will be the first Democratic nominee to run the Fed since President Jimmy Carter named Paul Volcker as chairman in 1979.

Photo: Janet L. Yellen, attending ceremonies marking the Federal Reserve’s centennial in December. (Mark Wilson/Getty Images)

An important position of power, now held by a woman.

19:21 // 3 months ago
September 15, 2013
Guess Larry Summers won’t be running the Federal Reserve.
Side note: Question for you guys. Do you know who Larry Summers is? Is he just that guy who yelled at the Winklevi in The Social Network? Or do most of you actually know he was once the Treasury Secretary? Just feel like this story is getting covered a lot today considering that this is inside baseball for most people at home.

Guess Larry Summers won’t be running the Federal Reserve.

Side note: Question for you guys. Do you know who Larry Summers is? Is he just that guy who yelled at the Winklevi in The Social Network? Or do most of you actually know he was once the Treasury Secretary? Just feel like this story is getting covered a lot today considering that this is inside baseball for most people at home.

19:50 // 7 months ago
May 30, 2013

Devastating recession losses remain for most American households

  • 55% of the U.S. public’s accumulated net worth still has not returned to the levels seen at its 2007 peak, according to the latest analysis from the Federal Reserve. Most of the the United States’ recovered wealth in recent years was due to the financial sector’s recovery, disproportionately benefiting wealthier families over middle and low-income households. Put quite flatly, the commission says that any analysis which claims the financial damage of the recession has been repaired “is not justified.” source
21:56 // 10 months ago
April 27, 2013
nbcnightlynews:

New $100 bills coming to a bank near you in OctoberStory: http://nbcnews.to/17XlMsi l Photo: Federal Reserve

So much for the modest, admittedly counterfeit-prone money of our youth.Now Ben Franklin’s just runnin’ around, showing off his gold numbers to everyone. 

nbcnightlynews:

New $100 bills coming to a bank near you in October

Story: http://nbcnews.to/17XlMsi l Photo: Federal Reserve

So much for the modest, admittedly counterfeit-prone money of our youth.Now Ben Franklin’s just runnin’ around, showing off his gold numbers to everyone. 

17:36 // 12 months ago
October 17, 2012
18:27 // 1 year ago
September 13, 2012
We’re looking for ongoing, sustained improvement in the labor market. There’s not a specific number we have in mind. What we’ve seen in the last six months isn’t it.
Federal Reserve Chairman Ben Bernanke • Discussing the Fed’s plan to expand its mortgage debt holdings at a rate of $40 billion per month for the foreseeable future, in an effort to jump-start the economy. The third round of quantitative easing, lovingly called QE3 by the monetary nerds, drew a major reaction from the market, pushing benchmark indexes to a level not seen since people listened to “Chocolate Rain” on the regular. If monetary policy makes you happy to be alive, today was your day.
19:15 // 1 year ago
February 4, 2012
apsies:

Spotted the bargain bin. (Taken with instagram)

You mean the bookstore reserve, right?

apsies:

Spotted the bargain bin. (Taken with instagram)

You mean the bookstore reserve, right?

14:34 // 2 years ago
December 10, 2011
afternoonsnoozebutton:

“Congressman Paul got me interested in the Federal Reserve.”
Yeah, it turns out it’s this place and they can just like make money there. I mean, goddamn!

Ahahahahaha.

afternoonsnoozebutton:

“Congressman Paul got me interested in the Federal Reserve.”

Yeah, it turns out it’s this place and they can just like make money there. I mean, goddamn!

Ahahahahaha.

22:47 // 2 years ago
November 28, 2011

Bloomberg: Banks scored sneaky profits on emergency loans

  • $13 billion earned by banks via roundabout loans source

» How they worked: These banks took advantage of a set of emergency loans from the Federal Reserve distributed between August 2007 and April 2010. Bloomberg Markets magazine did the math on the numbers and figured out that, by looking at the companies’ net interest margin, you could see how the companies took advantage of the below-market rates they got on the loans to earn a profit. The companies that scored the biggest paydays? Citigroup, which earned $1.8 billion, and Bank of America, which earned $1.5 billion.

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11:28 // 2 years ago
October 17, 2011
thisbigcity:

How about this for a redesigned $10 bill? And there’s more where that came from.
各位覺得美元若重新設計是否好看?更多構想請見《城事》。

Elegant concept. It’s actually fairly reminiscent of Canada’s plastic money, what with the holographic strip and all. But patriotism doesn’t know good design.

thisbigcity:

How about this for a redesigned $10 bill? And there’s more where that came from.

各位覺得美元若重新設計是否好看?更多構想請見《城事》。

Elegant concept. It’s actually fairly reminiscent of Canada’s plastic money, what with the holographic strip and all. But patriotism doesn’t know good design.

(Source: thisbigcity, via poptech)

22:52 // 2 years ago