In FED We Trust


Quite a revelation from the head of ‘our’ money apparatus that they don’t understand the labor market which they are charged with controlling… long term interest rates which they are charged with controlling or indeed an admission that they don’t even understand the fundamentals of inflation itself…

> “My colleagues and I may have misjudged the strength of the labor market, the degree to which longer-run inflation expectations are consistent with our inflation objective, or even the fundamental forces driving inflation…”

This of course is a damned rare admission by those running the fed or indeed any central bank… but if you look at history, the performance indicates that they are really no brighter than the market they are suppose to be controlling… for our own good… and in many cases inject uncertainty and hamper natural growth.


If Yellen doesn’t understand her job then why is she still the Fed Chair? She has way too much unchecked power and any mistakes that she makes could end up screwing up the entire economy. Trump should replace her with someone who understands the job AND who hates the Fed.




WASHINGTON—President Donald Trump is considering renominating Janet Yellen as Federal Reserve chairwoman but also views his economic adviser Gary Cohn as a top candidate, he told The Wall Street Journal in an interview Tuesday.

Mr. Trump reiterated that he thinks Ms. Yellen is doing a good job and he has “a lot of respect for her,” and said she is still in the running to serve a second four-year term as leader of the central bank. But he said he also is considering replacing Ms. Yellen with Mr. Cohn, who became Mr…

It’s not quite that bad.


Other than the Fed has no right to exist and should be eliminated.


Well now that we can completely agree on. But I was just pointing out that the TIC supports Yellen, is considering reappointing her and has great respect for her. Otherwise I’d gladly engage you about the history and spurious origins of the FRB, that could not have come into existence say during a Jackson administration.


Of course at the end of the day… It’s not really Yellen who is the issue… most certainly from Paul Volcker and the end of Bretton-Woods to present, the handling of monetary policy has been out of control… Of course the fed lived for that day… it was created for that day… pegging the price of gold at $35 an ounce was merely an interim step to pure fiat… Kind of like the ACA is to single payer…


Other than they held over the stimulus of low interest rates for 9 years and of course sitting on 4 trillion in assets that bailed out our illustrious government. Both allowed congress to over spend 10 trillion dollars with little impact. That impact will soon be hitting the deficit. Imagine the impact when we return to a recession which is over due.

Yes, Yellen is over her head and of course clueless.