Tag Archives: Federal Reserve

Economist, Ex-Fed Chairman Paul Volcker Dead At 92

CNN reports: Paul A. Volcker, who helped shape American economic policy for more than six decades, most notably by leading the Federal Reserve’s brute-force campaign to subdue inflation in the late 1970s and early ’80s, died on Sunday in New York. He was 92. Mr. Volcker, a towering, taciturn and somewhat rumpled figure, arrived in Washington as America’s postwar economic …

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Kudlow: The Federal Reserve Is Part Of The Deep State

CNBC reports: White House economic adviser Larry Kudlow on Thursday took a shot at members of the Federal Reserve board as part of the “deep state.” “I don’t want to get into a lot of Fed bashing,” Kudlow told CNBC in an interview from the White House lawn. “They do the best they can. Their models are highly flawed. The …

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Trump Accuses Fed Reserve Of Hindering US Exports

The Hill reports: President Trump on Thursday put renewed pressure on the Federal Reserve to cut interest rates, arguing the strength of the U.S. dollar is hurting American manufacturers. In a series of tweets, Trump accused the Fed of hindering U.S. exports by keeping interest rates relatively high compared to other economic powers. He suggested the central bank should weaken …

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Trump Could Save Millions From Fed Cut He Pushed

From the ethics watchdog group CREW: The recent Federal Reserve interest rate cut has clear political benefits for President Trump, but it appears the cut will be doubly beneficial to him, as he also now stands to save millions in loan payments in coming years as a result of the rate cut. Trump reported five mortgages and loans on his …

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Federal Reserve: There Are Now More $100 Bills In Circulation Than $1 Bills (And Most Are Held Overseas)

The International Monetary Fund reports: A curious thing recently happened in US currency: in 2017 the $100 bill overtook the ubiquitous $1 bill in circulation volume, for the first time in history. In other words, the most valuable US banknote became the most widely circulated. (The $20 bill is in third place.) According to the Federal Reserve, there are more …

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Moore Blames “Sleaze Campaign” For Sinking Fed Gig

Mediaite reports: Stephen Moore phoned into Fox Business on Thursday to give Neil Cavuto the first word about his decision to withdraw from consideration for the Federal Reserve Board. When asked about his decision, Moore blamed the “sleaze campaign” from critics and the media. He defended his past writings, saying “they were meant to be jokes,” but acknowledged that many …

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Trump Won’t Nominate Stephen Moore For Fed Board

The New York Times reports: President Trump said he would not nominate Stephen Moore for a seat on the Federal Reserve board after several Republican lawmakers raised concerns about the conservative economist’s previous comments denigrating women. Mr. Moore, who continued to insist as recently as Thursday that he retained Mr. Trump’s support, appeared unlikely to win Senate confirmation after Republican …

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Trump: Herman Cain Asked Me Not To Nominate Him

A related story today from Media Matters: Herman Cain, President Donald Trump’s pick for a seat on the Federal Reserve Board, frequently acted as a gold company spokesperson on his radio program. He warned listeners in advertisements that they need to put some of their assets in gold because there’s a recession coming and “even central banks are buying gold …

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Accuser Threatens To Describe Cain’s Penis To Senate

The Daily Beast reports: A woman who has accused Herman Cain of having a long-term consensual affair threatened on Thursday to describe “certain parts” of his body to the Senate Banking Committee “to corroborate her testimony” if he doesn’t withdraw his name from consideration for the Federal Reserve Board. Ginger White first claimed she had a 13-year affair with Cain …

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Reversal: Herman Cain Won’t Withdraw For Fed Board

CNBC reports: Herman Cain will not drop out of consideration for the Federal Reserve Board even though he does not appear to have enough votes to get confirmed in the Senate, he told The Wall Street Journal on Wednesday. The former Godfather’s Pizza CEO and Kansas City Fed Board president said he is “very committed” to the process, according to …

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Cain To Withdraw From Federal Reserve Consideration

ABC News reports: Herman Cain is expected to withdraw his name from consideration for the Federal Reserve’s Board of Governors, amid growing pressure from Republican senators on the White House to remove him from consideration, according to multiple sources familiar with the matter. President Donald Trump announced last week his intention to nominate Cain, a political ally and former 2012 …

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Herman Cain Calls Senate Critics “A Bunch Of Yahoos”

The Kansas City Star reports: Herman Cain, whose prospects for a seat on the Federal Reserve Board of Governors have grown shaky before President Donald Trump even nominates him, likely gave his detractors in the U.S. Senate more reason to oppose his confirmation with comments at a University of Kansas lecture Wednesday night. He described the Senate Banking Committee, which …

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Herman Cain Promoted Anti-Vax Claims Via Email List

Media Matters reports: Herman Cain, President Donald Trump’s pick for a seat on the Federal Reserve Board, took money to promote the newsletter of an anti-vaccine conspiracy theorist. Cain also sent sponsored emails suggesting that the government is forcing citizens to take “7 deadly drugs” and that former first lady Nancy Reagan’s “desperate fight to cure Alzheimer’s disease” may be …

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GOP Works To Scuttle Herman Cain’s Nomination To Fed

Politico reports: Herman Cain is in deep trouble. And he hasn’t even been formally nominated to the Federal Reserve yet. Senate Republicans are warning the White House that the 2012 presidential candidate will face one of the most difficult confirmation fights of Donald Trump’s presidency and are making a behind-the-scenes play to get the president to back off, two GOP …

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Trump Likely To Tap Herman Cain For Federal Reserve

Axios reports: President Trump has told confidants he wants Herman Cain on the Federal Reserve board, but will wait until his background check is completed before making the formal announcement, according to two senior administration officials familiar with the decision. It’s likely confirmation that Trump is ready to move ahead with the former presidential candidate, whose possible nomination was reported …

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Trump Mulls Federal Reserve Seat For Herman Cain

Reuters reports: U.S. President Donald Trump is considering Herman Cain for a seat on the Federal Reserve board, a Bloomberg reporter said on Twitter. Cain made his fortune as pizza executive before making a bid to be the Republican candidate in the 2012 presidential election. Mitt Romney ultimately won that nomination, but lost the election to former President Barack Obama. …

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Strong Economy Spurs Fed To Hike Interest Rates

Reuters reports: The U.S. Federal Reserve raised interest rates by a quarter point on Wednesday and signaled a faster pace of increases in 2017 as the Trump administration takes over with promises to boost growth through tax cuts, spending and deregulation. The rate increase, regarded as a virtual certainty by financial markets in the wake of a string of generally …

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