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Recent Speech By Vice Chair Of FOMC

Monday, March 4, 2013 - 3:00 PM
Dear Readers,

Here is the link to transcript of the recent speech by the Vice Chair of the FOMC.

http://www.federalreserve.gov/newsevents/speech/yellen20130302a.htm

Noteworthy points:

Near the beginning Vice Chair stated "I will discuss the Federal Reserve's ongoing efforts in these circumstances to speed the U.S. economy's return to maximum employment in a context of price stability". 

A clear sign that this public servant is totally focused on the dual madate we've given them!

The Vice Chair closed her speech with words: "However, insufficiently forceful action to achieve our dual mandate also entails costs and risks. There is the high cost that unemployed workers and their families are paying in this disappointingly slow recovery. There is the risk of longer-term damage to the labor market and the economy's productive capacity. At present, I view the balance of risks as still calling for a highly accommodative monetary policy to support a stronger recovery and more-rapid growth in employment."

Excellent!  Once again I'm glad to note that this publc servant has a sharp focus on the dual mandate.

All in all, it is reassuring that the Vice Chair of FOMC is not getting distracted by the (so called savers and) retireesBoth of these classes of people must not be of any concern to the FOMC given their clear/concise dual mandate. 

There is no question that retirees are not unemployed, therefore they are out of consideration.  And so far as the so called savers are concerned, it is merely a made-up class without any real deifnition as to who are the members of this class, and of course the real-life policies cannot be geared towards something that is made-up and is not real! :-)

Yours Truly,
- Anonymous
2
ytytytyt64 posts since
Feb 28, 2013
Rep Points: 197
1. Monday, March 4, 2013 - 3:42 PM
On a lighter note, it appears this may be applicable to the above post.

Question: What Is an Internet 'Troll'?

Answer: An internet 'troll' is an abusive or obnoxious user who uses shock value to promote arguments and disharmony in online communities. Named after the wicked troll creatures of children's tales, an internet troll is someone who stirs up drama and abuses their online anonymity by purposely sowing bickering between others. Trolls like a big audience, so they frequent blog sites, news sites, discussion forums, and game chat. Trolls thrive in any environment where they are allowed to make public comments.

Sorry if anyone else is offended, but it was just too obvious.

 
5
ShorebreakShorebreak2,621 posts since
Apr 6, 2010
Rep Points: 14,210
2. Monday, March 4, 2013 - 4:44 PM
Dear Shorebreak,

If the so called harmony gets disrupted when faced with cold-hard facts, then such "harmony" is of questionable nature! ;-)

What is obvious to me is that you are unwilling/unable to post counter-points that are based on facts! ... But feel welcome to try if you're upto it.  :-)

Yours Truly,
- Anonymous
2
ytytytyt64 posts since
Feb 28, 2013
Rep Points: 197
3. Monday, March 4, 2013 - 5:11 PM
You just confirmed your "troll" status. Thank you very much and have a nice day.
4
ShorebreakShorebreak2,621 posts since
Apr 6, 2010
Rep Points: 14,210
4. Monday, March 4, 2013 - 5:16 PM
Dear Shorebreak,

Right .... so "Ignorance is bliss" for you ....Feel wlecome to remain in blissful harmony.  :-)

BTW, you're welcome, and ... I sure am having a nice day.

Yours Truly,
- Anonymous
2
ytytytyt64 posts since
Feb 28, 2013
Rep Points: 197
5. Monday, March 4, 2013 - 5:25 PM
Her statement might have some validity if it was accurate. There is no evidence that adding trillions of dollars to the reserves of megabanks has added one job to the payroll numbers. YtYt, please don't post a response, as I am in total agreement with Shorebreak.
4
loulou544 posts since
Aug 3, 2010
Rep Points: 3,397
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