Yellen: Semiannual Monetary Policy Report to the Congress | Forex Factory

  • Yellen: Semiannual Monetary Policy Report to the Congress

    From federalreserve.gov

    Chairman Hensarling, Ranking Member Waters, and other members of the Committee, I am pleased to present the Federal Reserve's semiannual Monetary Policy Report to the Congress. In my remarks today, I will discuss the current economic situation and outlook before turning to monetary policy. Since my appearance before this Committee last July, the economy has made further progress toward the Federal Reserve's objective of maximum employment. And while inflation is expected to remain low in the near term, in part because of the further declines in energy prices, the Federal Open Market Committee (FOMC) expects that ... (full story)

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cat
Feb 10, 2016 7:54am
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That's right, layoffs surged from December to January, the largest number since January 2009. The only job creation in the US today is part-time, low wage, hardly the engine of economic growth, whilst 90% of the jobs being lost are full time positions. The US economy is in big big trouble, but the Fed has its head in the sand.
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cat
Feb 10, 2016 8:32am
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Quoting Pharm0r
With such an expert opinion, perhaps you should draft up a resume and send it to the fed. I have complete confidence that you alone can replace the fed....even though they undoubtedly have access to mountains more information than you....clearly you see the whole picture and can do a much better job.
I see enough to know an asset bubble when I see one, totally at odds with economic fundamentals. You have a 19 Trillion federal government debt, a dwindling manufacturing base, stagnant or falling GDP, record numbers of people working zero hours jobs on low pay, widening wealth divide, and amidst all this, the Fed wants to raise rates! Either they are delusional, or they are purposely engineering an economic collapse. The market, as always, will have the last word.
Reply
cat
Feb 11, 2016 2:40pm
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Quoting wlarimer
Honestly, the federal reserve has Way to much power over our economy just trying to maintain its dual mandate targets.
Does it? Which is why the markets are tanking and the economy is collapsing and the Fed can't do a single thing about it!
Reply
cat
Feb 14, 2016 5:42am
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Quoting wlarimer
As I explained above, the fed's dual mandates neither have to do with equities markets. They are inflation and employment Only. Why should the fed care about equities?

Second, yes, for 4 years, the fed's emergency measures were targeted at re-inflating the stock market and residential real-estate bubbles. There was plenty of warning to get out, get hedged with options or set those tight stops. If you failed to do so, can you really say it isn't your own fault?
This discussion has got absolutely nothing to do with what I or any other equities trader expects or not, because as you would know if you were a trader yourself, what the fed does or doesn't do has absolutely no impact whatsoever on how I or any other intra-day trader trades the markets. Any trader of any worth holding long positions over time would have known that during the first quarter of last year equities were heavily overcooked, so enough of your sanctimonious bull, trying to put across the impression that you know everything. As taken from its website, the Fed "was created by the Congress to provide the nation with a safer, more flexible, and more stable monetary and financial system," something it has failed completely to do.
Reply
Pharm0r
Feb 10, 2016 8:09am
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Quoting cat
That's right, layoffs surged from December to January, the largest number since January 2009. The only job creation in the US today is part-time, low wage, hardly the engine of economic growth, whilst 90% of the jobs being lost are full time positions. The US economy is in big big trouble, but the Fed has its head in the sand.
With such an expert opinion, perhaps you should draft up a resume and send it to the fed. I have complete confidence that you alone can replace the fed....even though they undoubtedly have access to mountains more information than you....clearly you see the whole picture and can do a much better job.
Reply
Pharm0r
Feb 10, 2016 8:40am
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Quoting sundown858
How about we end the Fed? There's no more reason to centrally control interest rates than there is to centrally control the price of bananas, mattresses, smart phones, etc. The market does a perfect job regulating prices of millions of products. Interest rates are no different.
Are you kidding me??? Interest rates are no different than the price of bananas, mattresses, and smart phones?!?! This is a perfect example of why the market is completely IRRATIONAL.
Reply
michaelpelly
Feb 10, 2016 11:02am
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Quoting Truhander
It was not entirely Priced in---- the early release most definitely affected volatility--- at least momentarily

Spreads opened up (on Oanda anyway) and price jump back-and-forth about 20 pips

This is plenty to affect the daytrader

this should've been listed as it's on item at 8:30 AM Eastern time
Oanda always gaping the spreads too much.
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Rtm
Feb 10, 2016 12:00pm
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Quoting michaelpelly
Oanda always gaping the spreads too much.
Oanda a crap MM broker, dunno why people think they so good. I left them a long time ago. Low leverage and spreads that gap like a woman having a baby. I think it is just the marketing and advertising they put out that gets people. The office here in Canada is literally a box.
Reply
Rtm
Feb 10, 2016 12:02pm
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Quoting Guest
I see enough to know an asset bubble when I see one, totally at odds with economic fundamentals. You have a 19 Trillion federal government debt, a dwindling manufacturing base, stagnant or falling GDP, record numbers of people working zero hours jobs on low pay, widening wealth divide, and amidst all this, the Fed wants to raise rates! Either they are delusional, or they are purposely engineering an economic collapse. The market, as always, will have the last word.

You don't have to be a Rocket Scientist....
well how else we supposed to get some growth stimulus?
Reply
forexings
Feb 10, 2016 7:42am
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Quoting JollyBean
Nothing hawkish or dovish about the statement.

Same old... "we're on the path to gradual hikes".
Actually she wanted to say 100% hike in 12/25/3000
100% hike of course gradual
Reply
Truhander
Feb 10, 2016 9:30am
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Quoting mxer4
its already priced in you fools unless she says something in the interview. The transcripts were released and nothing changed, the volatility was there an hour ago.
It was not entirely Priced in---- the early release most definitely affected volatility--- at least momentarily

Spreads opened up (on Oanda anyway) and price jump back-and-forth about 20 pips

This is plenty to affect the daytrader

this should've been listed as it's on item at 8:30 AM Eastern time
Reply
barkie
Feb 10, 2016 2:17pm
Permalink
Quoting Rtm
Oanda a crap MM broker, dunno why people think they so good. I left them a long time ago. Low leverage and spreads that gap like a woman having a baby. I think it is just the marketing and advertising they put out that gets people. The office here in Canada is literally a box.
So 50:1 is "low" leverage for you ?

What is appropriate for your "trading style", 400:1 or something?

See you at Pizzahut buddie !
Reply
mxer4
Feb 10, 2016 9:32am
Permalink
Quoting Truhander
It was not entirely Priced in---- the early release most definitely affected volatility--- at least momentarily

Spreads opened up (on Oanda anyway) and price jump back-and-forth about 20 pips

This is plenty to affect the daytrader

this should've been listed as it's on item at 8:30 AM Eastern time
it was listed as according to the presstime . It has always been like this that the release is 90 mins before. If one was ill informed then they should have checked the feds website earlier on.
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mxer4
Feb 10, 2016 11:15am
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Quoting Stockman
no rate hike coming in a million years. All depends what her masters at the whitehouse write on her paper so puppet Yellen can recite her commands.

What a POS world we live in.

Rise in wages was only due to the fact that everyone's unemployment rate went up.

Will be short lived sheep, keep trying to get rich trading forex, we like taking your money
What do you trade that makes you the creme de le creme of trading?
Reply
Stockman
Feb 10, 2016 11:13am
Permalink
no rate hike coming in a million years. All depends what her masters at the whitehouse write on her paper so puppet Yellen can recite her commands.

What a POS world we live in.

Rise in wages was only due to the fact that everyone's unemployment rate went up.

Will be short lived sheep, keep trying to get rich trading forex, we like taking your money
Reply
wlarimer
Feb 11, 2016 9:12am
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Quoting cat
What are the Fed doing? what a bunch of morons!! Did the market sell off following the first hike not register with them at all??
I just don't get how many equities traders want a 'sure thing' schedule for rate hikes. Is 'data dependent' that hard to understand?

Honestly, the federal reserve has Way to much power over our economy just trying to maintain its dual mandate targets. If your equities are in a downward spiral, dump them for what you can get and buy them back later at a discount.

It ain't Yellen's job to keep puffing up residential real-estate and equities forever, or at all.
Reply
wlarimer
Feb 13, 2016 10:26am
Permalink
Quoting cat
Does it? Which is why the markets are tanking and the economy is collapsing and the Fed can't do a single thing about it!
As I explained above, the fed's dual mandates neither have to do with equities markets. They are inflation and employment Only. Why should the fed care about equities?

Second, yes, for 4 years, the fed's emergency measures were targeted at re-inflating the stock market and residential real-estate bubbles. There was plenty of warning to get out, get hedged with options or set those tight stops. If you failed to do so, can you really say it isn't your own fault?
Reply
Tony112
Feb 10, 2016 7:31am
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Rate hike + no more place to store oil. That's what I'm hoping for now.
Reply
cat
Feb 10, 2016 7:41am
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What are the Fed doing? what a bunch of morons!! Did the market sell off following the first hike not register with them at all??
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kucinghitam
Feb 10, 2016 8:01am
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lame
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Dr.Zain
Feb 10, 2016 8:02am
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F*****g 90 minutes before
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Dr.Zain
Feb 10, 2016 8:07am
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Quoting JollyBean
Nothing hawkish or dovish about the statement.

Same old... "we're on the path to gradual hikes".
Gradual means 0.00000001% every quarter?
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ChinaTraderz
Feb 10, 2016 7:37am
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Not on schedule?
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vezict
Feb 10, 2016 9:08am
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boring nak tunggu
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Truhander
Feb 10, 2016 7:35am
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yup, not on the schedule as far as I could see
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JollyBean
Feb 10, 2016 7:38am
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Nothing hawkish or dovish about the statement.

Same old... "we're on the path to gradual hikes".
Reply
mxer4
Feb 10, 2016 8:30am
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its already priced in you fools unless she says something in the interview. The transcripts were released and nothing changed, the volatility was there an hour ago.
Reply
Sanguis
Feb 10, 2016 7:35am
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Quoting Tony112
Rate hike
No explicit mention of a March relent
Reply
wswi
Feb 10, 2016 8:01am
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I would say we can predict the ppl position by looking at their argument/comment... but sadly market wont listen to anyone... poor them!!!
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urdich
Feb 10, 2016 8:24am
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Quoting Dr.Zain
F*****g 90 minutes before
early start???
Reply
dzaja
Feb 10, 2016 8:20am
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Quoting sundown858
How about we end the Fed? There's no more reason to centrally control interest rates than there is to centrally control the price of bananas, mattresses, smart phones, etc. The market does a perfect job regulating prices of millions of products. Interest rates are no different.
good post. and true one.
Reply
Fx-Baron
Feb 10, 2016 7:45am
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If unemployment is @ 4.9%, and with oil at multi year lows, they would be raising rates monthly. But there's a reason the Fed isn't going to raise rates? The employment Data is BS! & The economy is in the gutter no matter how they try and spin it!
Reply
sundown858
Feb 10, 2016 8:16am
Permalink
Quoting Pharm0r
With such an expert opinion, perhaps you should draft up a resume and send it to the fed. I have complete confidence that you alone can replace the fed....even though they undoubtedly have access to mountains more information than you....clearly you see the whole picture and can do a much better job.
How about we end the Fed? There's no more reason to centrally control interest rates than there is to centrally control the price of bananas, mattresses, smart phones, etc. The market does a perfect job regulating prices of millions of products. Interest rates are no different.
Reply
chrus
Feb 10, 2016 8:29am
Permalink
If the transcript is released 90 minutes before, shouldn't the transcript release be listed on the FF economic calendar? Opening up the news item I can now see "Text of the testimony due to be released 90 minutes earlier than the speaking time listed."

However, clearly increased volatility is likely on the transcript release. It should be its own item. After all, isn't the entire point of an economic calendar to document scheduled news for traders?
Reply
sundown858
Feb 10, 2016 1:53pm
Permalink
Quoting Pharm0r
Are you kidding me??? Interest rates are no different than the price of bananas, mattresses, and smart phones?!?! This is a perfect example of why the market is completely IRRATIONAL.
What IS irrational is saying that interest rates are not the same as other products. Interest rates are a product that can be bought and sold freely on the market. The process of price discovery occurs for any product bought and sold in a free market. There's no need for a man with a bull horn to dictate what prices will be to the market.
Reply
Daehoth
Feb 10, 2016 7:42am
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Quoting Tony112
Rate hike + no more place to store oil. That's what I'm hoping for now.
They can put the oil back into the ground where they got it from....lol
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gillej
Feb 10, 2016 7:34am
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Thought this was meant to be 15:00 GMT ??
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leancuisine
Feb 10, 2016 7:35am
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Quoting gillej
Thought this was meant to be 15:00 GMT ??
They release the transcript 90 minutes before (5 minutes ago).
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sbintoko
Feb 10, 2016 8:35am
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the most important one is how to make profit from this.
So.... what's your plan?
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pitt59
Feb 10, 2016 8:39am
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In addition, the Committee expects that the federal funds rate is likely to remain, for some time, below the levels that are expected to prevail in the longer run.
Reply
Trader#AB32
Feb 10, 2016 8:44am
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I see enough to know an asset bubble when I see one, totally at odds with economic fundamentals. You have a 19 Trillion federal government debt, a dwindling manufacturing base, stagnant or falling GDP, record numbers of people working zero hours jobs on low pay, widening wealth divide, and amidst all this, the Fed wants to raise rates! Either they are delusional, or they are purposely engineering an economic collapse. The market, as always, will have the last word.

You don't have to be a Rocket Scientist....
Reply
Trader#4AD9
Feb 14, 2016 3:15pm
Permalink
I'm sorry if you already Knew what I told you. You post just made you sound to me like a bubble head that is just now figuring out you should have hedged your positions and want to blame your own mistake of something else. If you were fully hedged and just want more free money, we aren't gonna get anymore.

If you believe: "the Fed was created by the Congress to provide the nation with a safer, more flexible, and more stable monetary and financial system," rather than something like, Jekyll Island was committed against the American people by congress for the sole purpose of giving a small group of wealthy bankers a back-door lever to make their private company more in control of our monetary system, You and I will just have to disagree.

Sanctimonious bullshit aside, when the equities markets quit plummeting, pull your hedges and use that profit to beef your positions.
Reply

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