Archiv: Fed (US Central Bank Federal Reserve)

02.05.2020 - 11:04 [ the Hill ]

Big banks are growing due to coronavirus — that’s an ominous sign


Collectively, the ten largest U.S. banks expanded by more than $1.2 trillion in the first quarter of 2020. JPMorgan alone grew by nearly 20 percent, becoming the United States’ first bank with $3 trillion in assets. The bank took in $273 billion in new deposits in just three months. That’s equivalent to JPMorgan acquiring PNC Bank — the country’s seventh largest depository institution.

29.04.2020 - 18:42 [ Washington Post ]

The U.S. plans to lend $500 billion to large companies. It won’t require them to preserve jobs or limit executive pay.

Democrats asked for restrictions on how companies can use the money from the central bank’s bond purchases but were rebuffed by the administration during negotiations about the Cares Act, said a spokesman for Senate Minority Leader Charles E. Schumer (D-N.Y.).

27.03.2020 - 18:05 [ ]

Trump calls for ousting GOP congressman from party ahead of coronavirus relief vote

„Looks like a third rate grandstander named (Thomas Massie), a congressman from, unfortunately, a truly GREAT state, Kentucky, wants to vote against the new Save Our Workers Bill in Congress,“ Trump tweeted early Friday.

Massie’s office did not immediately respond to a request for comment, but the congressman signaled he was moving forward despite bipartisan calls to forgo calling for a roll call vote.

27.03.2020 - 17:55 [ Thomas Massie, Abgeordneter im US Repräsentantenhaus / Twitter ]

(8/11) This bill creates even more secrecy around a Federal Reserve that still refuses to be audited. It allows the Federal Reserve to make decisions about who gets what, how much money we’ll print. With no transparency.

27.03.2020 - 17:50 [ ]

US-Repräsentantenhaus entscheidet über Billionen-Hilfspaket

Derweil waren die US-amerikanischen Aktienmärkte in der Hoffnung auf das Konjunkturpaket sowie der scheinbar unerschöpflichen geldpolitischen Maßnahmen, die die Federal Reserve treffen kann, gestern erneut gestiegen.

25.03.2020 - 03:13 [ Reuters ]

U.S. Fed hires BlackRock to help execute mortgage-backed securities purchases

The U.S. Federal Reserve has hired asset management giant BlackRock to help it execute the purchase of commercial mortgage-backed securities announced this week as part of the central bank’s aggressive efforts to shore up the U.S. economy.

12.01.2020 - 17:41 [ Wall Street Journal ]

U.S. Warns Iraq It Risks Losing Access to Key Bank Account if Troops Told to Leave

The State Department warned that the U.S. could shut down Iraq’s access to the country’s central bank account held at the Federal Reserve Bank of New York, a move that could jolt Iraq’s already shaky economy, the officials said.

22.12.2019 - 17:44 [ ]

The true legacy of US central banker Paul Volcker (1927–2019)

The specific mission undertaken by Volcker was to jack up interest rates and plunge the country into recession, creating mass unemployment as a means of breaking the social resistance of the working class.

A full accounting would reveal that his policies, imposed on behalf of the American ruling class, resulted in untold social misery and the premature death of millions of people, not only in the US but around the world, as he charted the path for ruling classes to follow everywhere.

22.12.2019 - 17:38 [ ]

Das wahre Vermächtnis des US-Zentralbankers Paul Volcker (1927-2019)

Volckers besondere Aufgabe bestand darin, die Zinsen anzuheben und das Land in eine Rezession zu stürzen, um Massenarbeitslosigkeit zu schaffen und den sozialen Widerstand der Arbeiterklasse zu brechen.

Eine vollständige Bilanz würde zeigen, dass seine Politik, die im Namen der amerikanischen herrschenden Klasse durchgesetzt wurde, zu unbeschreiblichem sozialem Elend und dem vorzeitigen Tod von Millionen Menschen führte – nicht nur in den USA, sondern auf der ganzen Welt. Er zeichnete den Weg vor, auf dem ihm die herrschende Klasse in anderen Ländern folgte.

08.10.2019 - 15:05 [ New York Times ]

Will the Supreme Court Hand Trump Even More Power?

The version of the “unitary executive” put forth by Mr. Trump, the Justice Department and the shareholders would open the door for a president to fire for any reason — even personal reasons unrelated to the public interest or even for no reason at all — any head of an administrative agency, including the heads of “independent agencies” like the Consumer Financial Protection Bureau as well as the Federal Reserve, the Federal Trade Commission and the Nuclear Regulatory Commission. (These agency heads are nominated by the president and confirmed by the Senate.)

18.09.2019 - 22:39 [ ]

Fed decision and Jerome Powell press conference: live blog and video

The Federal Reserve makes its interest rate decision and also releases new versions of its dot plot and economic projections and Chairman Jerome Powell will address the media afterwards. Follow along as MarketWatch’s Rex Nutting, William Watts, and Jeffrey Bartash live-blog the action and watch the video of the press conference.

18.09.2019 - 22:32 [ ]

US-Notenbank: Fed senkt erneut den Leitzins

Trump hatte zuvor immer wieder die Fed aufgefordert, die Zinsen deutlich zu senken, um die Wirtschaft anzukurbeln. Er hält das Zinsniveau für viel zu hoch und verlangt den geldpolitischen Schlüsselsatz auf „null oder weniger“ zu senken.

Eine Senkung des Zinssatzes verbilligt Kredite, weswegen Firmen leichter investieren können und viele Bürger weniger für den Schuldendienst ausgeben müssen – sie haben so mehr Einkommen zur Verfügung.

23.08.2019 - 18:58 [ ]

More Rate Cuts? Powell Says Fed Is Ready To Help Economy Grow Amid Trade Tensions

Signalling the possibility of more interest-rate cuts, Federal Reserve Chairman Jerome Powell said the central bank will „act as appropriate“ to sustain the economic expansion as the trade war with China takes a toll on global growth and the U.S. economy.

23.08.2019 - 18:53 [ ]

Challenges for Monetary Policy – Chair Jerome H. Powell

As we look back over the decade since the end of the financial crisis, we can again see fundamental economic changes that call for a reassessment of our policy framework. The current era has been characterized by much lower neutral interest rates, disinflationary pressures, and slower growth. We face heightened risks of lengthy, difficult-to-escape periods in which our policy interest rate is pinned near zero. To address this new normal, we are conducting a public review of our mo netary policy strategy, tools, and communications—the first of its kind for the Federal Reserve.

20.08.2019 - 17:49 [ ]

Trump fordert vor Notenbanktagung große Zinssenkung der Fed

Damals hatte Trump den Währungshüter als bestens geeignet, engagiert und klug beschrieben. An diesem Freitag hält der Fed-Chef bei einem jährlichen Treffen von Notenbankern in Jackson Hole eine Rede zu den Herausforderungen der Geldpolitik.

20.06.2019 - 06:03 [ ]

US-Leitzins bleibt bei 2,25 bis 2,5 Prozent

Das Zielband für den Leitzins Fed Funds Rate verharre zwischen 2,25 und 2,50 Prozent, teilte die Fed gestern in Washington mit.

Im vergangenen Jahr hatte die US-Notenbank viermal die Zinsen angehoben. Die letzte Erhöhung im Dezember war die neunte Anhebung seit Ende 2015.

31.03.2019 - 15:08 [ Washington Post ]

Did Wall Street get a ‘trillion-dollar bailout’ during the financial crisis?


Sanders, who is running for the Democratic presidential nomination, includes a version of this line in his stump speeches — as part of a slew of statements that he says demonstrates how the system is rigged in favor of the rich and powerful.

But his language is a bit slippery and exaggerated.

31.03.2019 - 15:01 [ Forbes ]

The Fed’s $16 Trillion Bailouts Under-Reported


The audit of the Fed’s emergency lending programs was scarcely reported by mainstream media – albeit the results are undoubtedly newsworthy. It is the first audit of the Fed in United States history since its beginnings in 1913. The findings verify that over $16 trillion was allocated to corporations and banks internationally, purportedly for “financial assistance” during and after the 2008 fiscal crisis.

Sen. Bernie Sanders (I-VT) amended the Wall Street Reform law to audit the Fed, pushing the GAO to step in and take a look around.

26.12.2018 - 18:11 [ ]

Is the era of central bank independence over?

The fortress walls of the Bank of England project an image of solidity, stability and impregnability. It matches the reputation it has tried to build over more than 400 years for sober analysis and, in recent years, steady impartiality.

Yet its defences have been infiltrated.

26.12.2018 - 18:07 [ ]

Trump advisor says Fed Chair Jerome Powell and Treasury Secretary Steven Mnuchin’s jobs are safe

President Donald Trump’s economic advisor Kevin Hassett said Wednesday that Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Mnuchin’s jobs are not under threat.
Hassett told an NBC News reporter at the White House that Powell’s role as the leader of the U.S. central bank is completely safe.
That assurance followed Hassett’s appearance on Fox Business, where the head of Trump’s Council of Economic Advisors said he is highly confident that the president is happy with Mnuchin.

26.12.2018 - 18:00 [ ]

Treasury Secretary Mnuchin moves to quell firestorm, says Trump never suggested firing Fed Chairman Powell despite ‚absolute terrible‘ policy

(22.12.2018) President Donald Trump is opposed to the Federal Reserve’s rate hike campaign, but has never suggested firing Fed Chairman Jerome Powell, Treasury Secretary Steven Mnuchin said on Saturday.
„I never suggested firing Chairman Jay Powell, nor do I believe I have the right to do so,” Mnuchin said via Twitter.

25.12.2018 - 12:12 [ ]

Can Trump fire Fed Chair Jerome Powell?

Adriene Hill: So there were reports over the weekend that Trump has asked his advisers if he can remove Powell. And I want to start with just that big picture question here: Can he?

Binyamin Appelbaum: It’s a really big and open question at the moment. The law says that he can only remove a member of the Fed’s Board of Governors “for cause.”

25.12.2018 - 11:58 [ ]

The Fed thinks economic growth will slow as Trump’s 2020 re-election bid approaches

The Federal Reserve sees economic growth slowing next year.
Amid concerns about weakening GDP growth, President Donald Trump cannot afford losing that selling point ahead of his 2020 re-election bid.

25.12.2018 - 11:34 [ ]

US-Wirtschaft: Trump greift Notenbank erneut an

Attacken auf die Notenbank sind für einen US-Präsidenten normalerweise tabu, nicht jedoch für Amtsinhaber Trump: Die Fed sei das einzige Problem der Wirtschaft. Der Dow Jones und der japanische Nikkei-Index sackten ab.

25.12.2018 - 11:22 [ ]

Cramer: Fed chief Jerome Powell is Trump’s worst re-election nightmare

(20.12.2018) „If I were running Trump’s re-election campaign, Jay Powell would be my worst nightmare,“ CNBC’s Jim Cramer says.
Cramer argues the president is right to worry about a possible recession in 2019 as a result of the Powell’s rate hikes.

25.12.2018 - 11:17 [ ]

How the economy could become Trump’s biggest re-election threat

(18.12.2018) The greatest threat to President Donald Trump’s re-election bid may not be the slew of investigations closing in on his Oval Office but a possible economic slowdown. And the president knows it.

The Dow Jones Industrial Average fell again Monday, the latest dip in the roller coaster markets amid the strain of Trump’s trade war, rising interest rates and worries about a slowing global economy.

22.12.2018 - 16:51 [ Jennifer Jacobs, White House reporter for Bloomberg News / Twitter ]

Scoop: Trump has talked about firing Jerome Powell, a move that would represent an unprecedented challenge to Federal Reserve’s independence. Advisers hope latest bout of anger will dissipate over holidays. Story by me, @SalehaMohsin, @margarettalev.

12.10.2018 - 18:35 [ Reuters ]

At IMF-World Bank meetings, Powell praised as Trump calls Fed ‚crazy‘

The Bank of England governor and the head of the International Monetary Fund praised the abilities of Federal Reserve Chairman Jerome Powell on Thursday, after U.S. President Donald Trump said the Fed had “gone crazy” by raising interest rates.

12.10.2018 - 18:21 [ CNBC ]

Watch CNBC’s full interview with Treasury Secretary Steven Mnuchin

Treasury Secretary Steven Mnuchin speaks to CNBC’s Geoff Cutmore at the IMF World Bank Meeting in Bali about the markets, the Federal Reserve, China and global economies.

21.07.2018 - 13:02 [ ]

Geldpolitik: Trump übt ungewöhnliche Kritik an US-Notenbank

(20.7.2018) Es gilt in den USA als Grundprinzip, dass US-Präsidenten sich nicht zur Geldpolitik der unabhängigen Notenbank Fed äußern.
Donald Trump hat trotzdem genau das getan – und gesagt, er sei „nicht begeistert“ von der Leitzinserhöhung der Bank.

27.06.2018 - 02:13 [ Paul Craig Roberts / Institute for Political Economy ]

How Long Can The Federal Reserve Stave Off the Inevitable?

The biggest chunk of America’s trade deficit with China is the offshored production of America’s global corporations. When the corporations bring the products that they produce in China to the US consumer market, the products are classified as imports from China.

27.06.2018 - 02:10 [ Paul Craig Roberts / ]

Wie lange kann die Federal Reserve das Unvermeidliche verhindern?

Der größte Teil des amerikanischen Handelsdefizits mit China ist die Offshore-Produktion der amerikanischen Weltkonzerne. Wenn die Unternehmen die Produkte, die sie in China herstellen, auf den US-Verbrauchermarkt bringen, werden die Produkte als Importe aus China eingestuft.

21.06.2018 - 09:30 [ ]

Vermögen der Top-Millionäre stieg 2017 auf 70 Billionen Dollar

Der Aktienmarkt dient den Zentralbanken und Regierungen auf der ganzen Welt als primärer Mechanismus, um den Reichtum der Finanzoligarchie zu erhöhen. Sie beherrscht die Weltwirtschaft und alle offiziellen Einrichtungen der Gesellschaft und diktiert den Regierungen, welche Politik gemacht wird. Seit Jahrzehnten organisieren die Zentralbanken, angeführt von der US-Notenbank, in Zusammenarbeit mit den Regierungen der offiziellen „Linken“ genau wie der Rechten, bewusst einen riesigen Wohlstandstransfer von der Arbeiterklasse zur herrschenden Elite, indem sie eine Politik betreiben, die darauf abzielt, die Finanzmärkte anzukurbeln.

Diese Maßnahmen wurden seit dem Finanzcrash 2008 noch verstärkt. Die Fed und die US-Regierung, zunächst unter Bush und dann unter Obama, reagierten auf den Zusammenbruch der Wall Street mit Maßnahmen, um sicherzustellen, dass die Oligarchen alle ihre Verluste ausgleichen und die Krise nutzen konnten, um sich weiter zu bereichern. Zusätzlich zur Rettung der Banken und Hedge-Fonds mit Billionen von Dollar an Steuergeldern, gaben sie der Wall Street mit Hilfe von nahezu Null-Zinssätzen praktisch kostenlose Kredite, und sie nutzten die „quantitative Lockerung“ – ein Euphemismus für das Gelddrucken –, um die notleidenden Kredite der Banken in die Bilanz der Fed abzuladen.

11.06.2018 - 13:03 [ CNBC ]

Asian shares edge higher amid trade tensions and ahead of central bank meetings

Trump is set to meet with North Korean leader Kim Jong Un in a summit on Tuesday.
U.S. President Donald Trump withdrew his support for the final G-7 communique.
The Federal Reserve, European Central Bank and Bank of Japan are also due to meet later in the week.