Post #386,335
2/11/14 10:16:28 AM
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Yellen at the Fed takes the dual mandate seriously.
http://www.calculate...f-continuity.html
In December of last year and again this January, the Committee said that its current expectation--based on its assessment of a broad range of measures of labor market conditions, indicators of inflation pressures and inflation expectations, and readings on financial developments--is that it likely will be appropriate to maintain the current target range for the federal funds rate well past the time that the unemployment rate declines below 6-1/2 percent, especially if projected inflation continues to run below the 2 percent goal. I am committed to achieving both parts of our dual mandate: helping the economy return to full employment and returning inflation to 2 percent while ensuring that it does not run persistently above or below that level.
Good. I hope she takes concrete actions along those lines as well.
Cheers,
Scott.
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Post #386,339
2/11/14 10:33:32 AM
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Almost as important as the focus on employment ...
... and returning inflation to 2 percent while ensuring that it does not run persistently above or below that level.
It should never have been treated as an upper bound. Persistent 1% inflation should be considered as bad as persistent 4%. Unless you're a lender, of course, then you don't want the value of your extended credit inflated away. --
Drew
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Post #386,341
2/11/14 10:39:10 AM
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Indeed.
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Post #386,351
2/11/14 4:05:19 PM
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One disappointment with her testimony.
When a Repo pushed the CBO reported Obamacare 2.5 million job loss BS, she offered to pushback whatsoever. Can she be that insulated from the politics?
Alex
ÂThere is a cult of ignorance in the United States, and there has always been. The strain of anti-intellectualism has been a constant thread winding its way through our political and cultural life, nurtured by the false notion that democracy means that "my ignorance is just as good as your knowledge.Â
-- Isaac Asimov
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Post #386,357
2/11/14 5:31:27 PM
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She seems to be trying to be diplomatic.
http://www.theguardi...eserve-chief-live
Yellen is asked about the CBO report finding that some people may leave the labor market as a result of the Affordable Care Act.
ÂCBO has done important analysis, Yellen says. ÂI think theyÂve recognized that the impact of the act is likely to be complex. I think theyÂre still trying to figure out what all of the different channels are by which it will effect the economy.Â
There's probably little sense in her pushing back strongly when there's no way she would convince him otherwise.
"Ya gotta know how to pick your battles!"
Cheers,
Scott.
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Post #386,360
2/11/14 9:40:05 PM
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Yes, but...
I was not suggesting that she recommend that the Repo take a course in remedial English with emphasis on Reading with comprehension. :)
Alex
ÂThere is a cult of ignorance in the United States, and there has always been. The strain of anti-intellectualism has been a constant thread winding its way through our political and cultural life, nurtured by the false notion that democracy means that "my ignorance is just as good as your knowledge.Â
-- Isaac Asimov
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Post #386,363
2/11/14 10:01:46 PM
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:-D
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Post #386,358
2/11/14 6:08:29 PM
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well actually the repos would be better
pointing out the lower class onerous tax hikes on the less well off that the bill presents
Any opinions expressed by me are mine alone, posted from my home computer, on my own time as a free American and do not reflect the opinions of any person or company that I have had professional relations with in the past 58 years. meep
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Post #386,365
2/12/14 8:41:08 AM
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Aye, but to the republicans
those are a feature, not a bug.
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Post #386,369
2/12/14 9:52:07 AM
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actually no. It is the democratic party
that believes a family of 4 making above 46k is rich. If you look at medicaid part D a republican tool, the same issue does not arise.
Any opinions expressed by me are mine alone, posted from my home computer, on my own time as a free American and do not reflect the opinions of any person or company that I have had professional relations with in the past 58 years. meep
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Post #386,370
2/12/14 9:58:09 AM
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I think you've got your terms mixed up
The word is not rich. The right expression is "not in poverty".
And medicare D is a massive tax giveaway to pharma. That's the feature.
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Post #386,372
2/12/14 10:00:30 AM
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rich is the term they used, not me
Any opinions expressed by me are mine alone, posted from my home computer, on my own time as a free American and do not reflect the opinions of any person or company that I have had professional relations with in the past 58 years. meep
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