Posts

Treasury Secretary Says U.S. Can ‘Certainly’ Afford to Provide Military Support for Israel and Ukraine

/0 Comments/in , /by

Treasury Secretary Janet Yellen signaled on Monday that she has no doubt the U.S. could fund Israel and Ukraine in their ongoing military conflicts despite America’s rising gross national debt.

In an interview with Britain’s Sky News, Yellen told the outlet that the U.S. could “absolutely” afford to provide military aid to Israel in its war against the militant terrorist organization Hamas while funding more support to Ukraine in its ongoing struggle with Russia.

“America can certainly afford to stand with Israel and to support Israel’s military needs, and we also can and must support Ukraine in its struggle against Russia,” Yellen said in an interview with Sky News.

Last month, America’s gross national debt surpassed $33 trillion, which didn’t draw heavy concern for Yellen, who said at the time that the net interest as a share of gross domestic product (GDP) remains under control by the federal government.

In her interview with Sky News, she emphasized the U.S. economy is doing “extremely well.” (Read more from “Treasury Secretary Says U.S. Can ‘Certainly’ Afford to Provide Military Support for Israel and Ukraine” HERE)

Delete Facebook, Delete Twitter, Follow Restoring Liberty and Joe Miller at gab HERE.

Fed Chair Unsure If Capitalism or Oligarchy Describes the U.S.

/1 Comment/in , /by

Photo Credit: AP / Charles Dharapak

Photo Credit: AP / Charles Dharapak

“Are we still a capitalist democracy or have we gone over into an oligarchic form of society in which incredible economic and political power now rests with the billionaire class?” Sen. Bernie Sanders, a Vermont socialist, asked that question of Federal Reserve Chair Janet Yellen at a hearing on Capitol Hill Wednesday.

Yellen said she’d “prefer not to give labels,” but she admitted to being very concerned about income inequality.

“So, all of the statistics on inequality that you’ve cited are ones that greatly concern me, and I think for the same reason that you’re concerned about them. They can shape the — determine the ability of different groups to participate equally in the democracy and have grave effects on social stability over time.

“And so I don’t know what to call our system or how to — I prefer not to give labels; but there’s no question that we’ve had a trend toward growing inequality and I personally find it very worrisome trend that deserves the attention of policy-makers.

Read more from this story HERE.

Stocks Rise after Yellen Talks Taper; Record Finish for S&P 500 (+video)

/0 Comments/in , /by

Photo Credit: CNBCU.S. stocks climbed on Thursday, propelling the S&P 500 to a record close, after Federal Reserve Chair Janet Yellen said the central bank would probably continue tapering its asset purchases while tracking data to figure how much recent softness in the economy is due to the weather.

“Reduced tapering would be very negative to the market. We made a change in December to good news is good news,” said Randy Frederick, managing director of active trading and derivatives at Charles Schwab.

For technical traders, “when you break through resistance which has taken a long time to get through, resistance becomes support,” said Frederick of the S&P closing above 1,848.38, its prior closing high, set on Jan.15.

Appearing before the Senate in testimony delayed by a snowstorm, Yellen said the harsh weather could have played a role in the recent spate of tepid economic data.

“The market is of the opinion the weather has impacted business the last couple of months. When the weather is a little bad, and one or two retailers use it as an excuse, it tells you there’s a problem with the one or two companies, but when 98 out of 100 tell you it’s the weather, then you can believe it,” said Doug Foreman, chief investment officer at Kayne Anderson Rudnick.

Read more this story HERE.

Obama’s Pick for Fed Chair Raises Brand-New Fears for U.S. Dollar

/1 Comment/in , /by

Photo Credit: WNDRepublican lawmakers are balking at President Obama’s choice of Federal Reserve chairman, Janet Yellen, worried she will favor enhanced government intervention in the economy, including flooding the market with more dollars.

A review of her previous work finds she divined a theory that was a precursor to the current progressive campaign for the government to ensure “fair” pay to employees.

Yellen’s confirmation in the Democrat-controlled senate is all but a certainty after she was approved by the Senate Banking Committee 11 days ago.

Sen. Marco Rubio, R-Fla., announced he plans to vote against Yellen, citing fears she will enact policies to the detriment of long-term economic growth.

“While Dr. Yellen is an accomplished individual, I will be voting against her nomination to chair the Fed because of her role as a lead architect in authoring monetary policies that threaten the short and long-term prospects of strong economic growth and job creation,” Rubio said in a statement.

Read more from this story HERE.

Rand Paul Threatens to Hold Yellen Nomination: Source (+video)

/1 Comment/in , /by

Photo Credit: Getty ImagesSen. Rand Paul is threatening to put a hold on the nomination of Janet Yellen to chair the Federal Reserve, a source close to the Kentucky Republican said Friday.

Paul is insisting on a vote on his Fed transparency bill, and has informed Senate leadership of his intentions, the source said.

“As part of Senate consideration of the Janet Yellen nomination to be Chair of the Federal Reserve, I will request a vote on my bipartisan Federal Reserve Transparency Act, S. 209. The American people deserve transparency from the federal reserve and the federal government as a whole,” Paul said in a statement following the reports.

Read more from this story HERE.