8chan/8kun QResearch Posts (31)
#15660328 at 2022-02-18 22:20:29 (UTC+1)
Q Research General #19801: What's Honkening in Ottawa Edition
>>15660027
>>15659998
NOTE TAKER - SUMMARY OF THE BELOW ARTICLE - THE FED NEW RULEZ AND WHAT IT REALLY MEANS
1) JEROME POWELL TENURE IS UP IN FEBRUARY - NOMINATION WILL BE [Lael Brainard] Dig requested who is this and what ties to the have to whom
2) FED OFFICIALS RESIGNATIONS DUE TO INSIDER TRADING (note no charges have been bought against them or money recovered).
p.s first highlighted articled is moar important then the latest one by A.P check red underlined comments.
Below article is moar detailed, news that Jerome Powell term expires in Feb. 2022 and nomination is Lael Brainard. Robert Kaplan (Dallas) and Eric Rosengren (Boston) both resigned due to insider trading.
=========
Fed imposes sweeping new limits on policymakers' investments
By CHRISTOPHER RUGABER October 21, 2021
https://apnews.com/article/business-d361e2f21df3f4cdebef4a202bff7d3d
--------------—-
Federal Reserve approves stricter trading rules
WASHINGTON (AP) - The Federal Reserve on Friday formally adopted sweeping new rules that will limit the ability of its top officials to invest in financial markets, a change intended to prevent conflicts of interest involving investments affected by Fed policies.
The stricter rules were developed after an outcry last year over questionable trades that were made by several top Fed policymakers.
Under the new rules, Fed officials may not invest in individual stocks, bonds or cryptocurrencies and are limited to diversified investments such as mutual funds. They must provide 45 days' notice of any trade and secure approval of such trades. And they will have to provide public notice of any trades made in the previous 30 days.
Chair Jerome Powell announced the rules in October after ethics questions engulfed several high-ranking policymakers about trades they had made in securities that stood to be affected by Fed actions at the time. The central bank's decisions on interest rates and bank regulations can cause significant swings in the prices of stocks, bonds and other securities.
Powell himself had come under fire after it was revealed that two regional Federal Reserve Bank presidents traded stocks and other investments in the spring of 2020 while the Fed was taking expansive steps to boost the economy and calm financial markets. As a result, the trades raised the possibility of conflicts of interest, because the two officials could have profited from the Fed's actions.
The new rules will also cover senior vice presidents at the Fed's 12 regional banks, research directors at the regional banks and senior staff members at the Fed in Washington as well as their spouses. The rules will take effect May 1.
https://apnews.com/article/business-jerome-powell-d2a
#15347645 at 2022-01-11 03:44:26 (UTC+1)
Q Research General #19413: It's beginning to look a lot like Genocide… Edition
>>15347595
Fed vice chair Richard Clarida resigns over trading scandal
https://nypost.com/2022/01/10/fed-vice-chair-richard-clarida-resigns-over-trading-scandal/
The move into and out of stock options came as the markets were tanking due to the effects of the coronavirus pandemic.
Clarida is the third senior Fed official to step down in the wake of reports about stock trades made just before the markets collapsed.
Other top Fed officials including Chair Jerome Powell, Dallas Fed President Robert Kaplan, and Boston Fed President Eric Rosengren also cashed out even though they had knowledge of the bank's plan to boost financial markets during the pandemic.
Both Kaplan and Rosengren resigned after news of the transactions were reported by The Wall Street Journal.
Powell also sold up to $5 million worth of stock options just before the markets tanked in the fall of 2020.
Biden recently nominated Powell to serve a second term despite opposition from his own party, including progressive Senator Elizabeth Warren.
#15347446 at 2022-01-11 03:05:44 (UTC+1)
Q Research General #19413: It's beginning to look a lot like Genocide… Edition
Fed vice chair out over trades made during pandemic
Federal Reserve Vice Chairman Richard Clarida said Monday he will be leaving his post with just a few weeks left on his term and amid revelations regarding his trading of stock funds.
In an announcement released Monday afternoon, Clarida said he will be stepping down from his post this Friday. His term expires on Jan. 31.
The move comes following additional disclosures regarding trades Clarida made in February 2020, around the time when the Fed was getting ready to roll out what eventually would become its most aggressive policy tools ever, in an effort to combat the Covid crisis.
"Rich's contributions to our monetary policy deliberations, and his leadership of the Fed's first-ever public review of our monetary policy framework, will leave a lasting impact in the field of central banking," Fed Chairman Jerome H. Powell said in a statement. "I will miss his wise counsel and vital insights."
Clarida's exit comes amid heightened scrutiny over what he had described as pre-planned portfolio rebalancing on Feb. 27, 2020. However, recent disclosures, first reported by the New York Times, showed that three days earlier, Clarida sold shares in three stock funds that he would repurchase on the 27th.
Markets dropped on Feb. 24 amid worries that the spreading coronavirus could cause substantial economic damage. On Feb. 26, Fed policymakers huddled to discuss what policy moves they might take to combat what eventually would become a full-blown pandemic.
Within weeks, the Fed would cut its benchmark interest rate to zero and institute an unprecedented array of lending and liquidity programs to help the economy and financial markets function.
Clarida's announcement did not mention anything about the controversy, which has been a focal point of Fed criticism from Sen. Elizabeth Warren (D-Massachusetts) and some other lawmakers. Two regional Fed presidents, Eric Rosengren of Boston and Robert Kaplan of Dallas, both resigned following questions over their trading activities.
Clarida called serving on the Fed "a distinct honor and immense privilege" and noted the measures it took during the pandemic.
"I am proud to have served with my Federal Reserve colleagues as we, in a matter of weeks, put in place historic policy measures that, in conjunction with fiscal policy, steered the economy away from depression and that have supported a robust recovery in economic activity and employment since," he said in a resignation letter to President Joe Biden. "There is still road left to walk and damage to be repaired."
The resignation comes the same week Powell appears before a Senate committee for his confirmation hearing to a second term. That hearing will happen Tuesday. Two days later, Fed Governor Lael Brainard will face a hearing to be confirmed as vice chairman to take Clarida's spot.
https://www.cnbc.com/2022/01/10/fed-vice-chair-clarida-to-step-down-early-following-scrutiny-over-his-trades-during-pandemic.html
#15346965 at 2022-01-11 01:53:36 (UTC+1)
Q Research General #19412: Crow Wing County residents seek new audit of already certified vote Editi
Top US central banker resigns amid trading scandal
Fed vice chair departing after media reports insinuated insider trading just before the Covid-19 pandemic was declared
Federal Reserve Board vice chair Richard Clarida has announced he will step down two weeks before his term is set to expire. His recently amended 2020 financial disclosures raised speculation about potential insider trading.
Nominated by President Donald Trump and confirmed in September 2018, Clarida was the top aide to Fed Chairman Jerome Powell. His resignation will be effective January 14, the Fed announced on Monday.
Clarida's resignation comes shortly after media reports questioning his stock trades in February 2020, just before market upheavals due to the spread of the novel coronavirus. Clarida submitted revised financial disclosures last month, with the Fed saying his initial report contained "inadvertent errors."
According to the disclosures, Clarida had sold shares in three stock funds on February 24 - mere days before Powell announced the central bank would help to salvage the pandemic-hit economy - only to buy one of them back three days later. He initially said this was part of "preplanned portfolio rebalancing."
According to the Wall Street Journal, a Fed ethics officer said Clarida was "in compliance with applicable laws and regulations governing conflicts of interest."
Clarida's term was due to expire at the end of January. President Joe Biden has already nominated Lael Brainard to serve as his replacement, and her Senate confirmation hearing is scheduled for Thursday.
This is a third major resignation at the Fed involving questions about potential insider trading. Last September, presidents of two Federal Reserve banks announced their early retirements. Eric Rosengren of the Boston Fed quoted health issues, while Robert Kaplan of Dallas said he wanted to eliminate the "distraction" questions about his stock trades had become.
Both have faced questions over their investments, which were technically legal under the existing Fed rules but drew outrage from House and Senate Democrats.
https://www.rt.com/business/545632-fed-deputy-chair-resigns/
https://www.rt.com/business/545632-fed-deputy-chair-resigns/
#15346480 at 2022-01-11 00:41:58 (UTC+1)
Q Research General #19411: Numbers Conclusive: Fraudulent Irregular Votes Are Massive Edition
>>15346408
Fed Vice Chairman to leave two weeks early in wake of ethics debacle
Federal Reserve Vice Chairman Richard Clarida will leave the central bank two weeks earlier than planned, following increased scrutiny into financial transactions he made in 2020 - while the Fed was taking action to save the U.S. economy.
Clarida, who served as the central bank's No. 2 official on monetary policy efforts through the pandemic, said he will step down from the Fed effective Jan. 14. He was appointed by the Trump administration in September to serve for a term that expired Jan. 31, 2022.
Stay ahead of the market
The New York Times reported last week that Clarida failed to properly disclose his 2020 trading activities in his original filings last year. The former PIMCO executive had first reported that he put a few million into a stock fund in late February, shortly before the central bank began teasing the possibility of Fed intervention in the markets.
At the time, the Fed insisted the move was part of a preplanned rebalancing.
But then Clarida amended the filings to show he had actually moved out of the stock fund while markets were sinking, only to buy back into the fund three days later.
The revelation attracted attention on Capitol Hill, where Democratic Senator Elizabeth Warren sent a letter to Fed Chairman Jerome Powell demanding more information related to senior Fed officials' trades during the Fed's rescue efforts.
Ethics concerns had also been unearthed for Dallas Fed President Robert Kaplan and Boston Fed President Eric Rosengren. Both stepped down in late September and early October. The letter was sent on Monday, the day before Powell was set to face the Senate Banking Committee for a confirmation hearing for his second term.
In response to the public backlash, Powell in October unveiled "tough new rules" that bar senior officials from actively trading and prohibits the purchase of any individual securities. The new rules effectively only allow purchases of diversified investment vehicles (like mutual funds), and cannot be done during times of "heightened financial market stress" like the spring of 2020.
In his letter to President Joe Biden, Clarida did not cite a reason for the early resignation.
The Fed vice chairman was instrumental in revising the central bank's approach to maximum employment and price stability, tweaking the Fed's framework to tolerate inflation moderately above 2%.
"I am proud to have served with my Federal Reserve colleagues as we, in a matter of weeks, put in place historic policy measures that, in conjunction with fiscal policy, steered the economy away from depression and that have supported a robust recovery in economic activity and employment since."
https://finance.yahoo.com/news/fed-vice-chairman-to-leave-two-weeks-early-in-wake-of-ethics-debacle-212720086.html
#15280148 at 2021-12-30 20:25:08 (UTC+1)
Q Research General #19327: Caged Bird Edition
Nancy Pelosi Buys Millions In Call Options In Google, Micron, Roblox, Salesforce And Disney
Despite a populist grassroots movement seeking to ban Congress members from trading stocks, one which has attracted bipartisan political support, Democratic House Speaker Nancy Pelosi - arguably one of the most prolific Congressional traders - said two weeks ago that lawmakers should be allowed to make trades while serving.
"We're a free market economy," Pelosi told reporters during a news conference. "They should be able to participate in that."
Pelosi's statement came days after progressive New Yorker, Alexandria Ocasio-Cortez, reiterated her support for banning lawmakers from the practice. Ocasio-Cortez and other members of Congress argue that lawmakers have access to information the public is not privy to and the ability to write and pass policy, they should abstain from buying and selling individual stock and other assets. She and other lawmakers support members of Congress investing in index funds.
"I choose not to hold any so I can remain impartial about policy making," Ocasio-Cortez wrote on Instagram.
Pelosi's statement also came in the wake of a series of scandals involving federal lawmakers, Fed and government officials making suspect trades throughout the coronavirus pandemic.
Currently, Senator Richard Burr (R-N.C.), is under investigation by the Securities and Exchange Commission for trades he made in the early days of the pandemic (Burr has said all of his trades were based on news reports, not non-public information), and other lawmakers were investigated by the Department of Justice for their trades.
It's not limited to Congress: In October the Fed announced it would ban officials from owning individual stocks and bonds after two officials - Dallas Fed president Robert Kaplan and Boston Fed president Eric Rosengren - resigned following allegations of insider trading.
Members of Congress are theoretically barred from trading on nonpublic information thanks to the Stop Trading on Congressional Knowledge, or STOCK, Act, and during the press conference, Pelosi noted that lawmakers need to follow that law. "If people aren't reporting [stock trades], they should be," she said.
We mention all of this because according to the latest Periodic Transaction Report covering Nancy Pelosi's latest trades, the California Democrat purchased millions worth of call options in companies from Alphabet, to Micron, to Roblox, Saleforce and Walt Disney. Unfortunately, neither the strike price nor the maturity of the options was disclosed.
https://www.zerohedge.com/markets/nancy-pelosi-buys-millions-call-options-google-micron-roblox-salesforce-and-disney
#14950529 at 2021-11-08 14:45:06 (UTC+1)
Q Research General #18913: BigBird9 edition
Yahoo Finance
A timeline of the Federal Reserve's trading scandal
Brian Cheung
Thu, November 4, 2021, 6:05 PM?8 min read
A reputational crisis at the Federal Reserve has led to the resignation of two senior officials within the central bank, raising questions about the strength of the Fed's guardrails around personal financial interests.
In September 2021, media reports highlighted several large financial transactions carried out by Dallas Fed President Robert Kaplan and Boston Fed President Eric Rosengren during 2020. As the heads of two of the Fed's network of 12 reserve banks, both were instrumental in engineering the Fed's response to the financial fallout from the COVID-19 pandemic.
Rosengren and Kaplan would promise not to do any more trading during their tenure as senior Fed officials, but would later announce early retirements as the public fallout expanded.
Fed Vice Chairman Richard Clarida would also likely catch scrutiny for rotating millions of dollars out of bond fund and into stock funds in February 2020 - right before the Fed started slashing interest rates.
(anyone else miss thisnotableevent?)
https://finance.yahoo.com/news/a-timeline-of-the-federal-reserves-trading-scandal-104415556.html
#14740922 at 2021-10-07 19:46:01 (UTC+1)
Q Research General #18646: #China trying #Taiwan on October 10 Edition
>>14740894
He's a great trader along with these two. BTW - I'm pretty sure what was said while snapping the photo wasn't even funny.
2 Top Federal Reserve Officials Retire After Trading Disclosures
WASHINGTON - In a rare moment of ethical controversy for the Federal Reserve, two top officials resigned Monday in the wake of revelations about their financial trading that exposed potential shortcomings in the Fed's rules on investments.
Eric Rosengren, the president of the Federal Reserve Bank of Boston, said he would step down this week for health reasons. Meanwhile, Robert Kaplan, the president of the Dallas Fed, said he would resign Oct. 8 to avoid becoming a "distraction" from the Fed's broader mission.
https://www.npr.org/2021/09/27/1041059924/2-top-federal-reserve-officials-retire-after-trading-disclosures
#14719013 at 2021-10-04 18:24:53 (UTC+1)
Q Research General #18618: FACEBOOK DOWN! [1.1.1.1] HA HA HA Edition
New Documents Show the Fed's Trading Scandal Includes Two of the Wall Street Banks It Supervises: Goldman Sachs and Citigroup
In the late eighteenth century, men gathered under a Buttonwood tree at 68 Wall in lower Manhattan and traded stocks among themselves. That's not how it works today. Dallas Fed President Robert Kaplan had to give his "over $1 million" trades in a litany of individual stocks and his "over $1 million" transactions in S&P 500 futures to a licensed broker at a registered broker-dealer. The same thing applied to Boston Fed President Eric Rosengren in placing his $1000 to $50,000 trades 68 times in 2020 in individual stocks and publicly traded Real Estate Investment Trusts (REITs).
The safeguards that failed at the Dallas Fed and the Boston Fed to stop their Presidents from trading like hedge fund wannabes should not have failed at the SEC-regulated Wall Street broker-dealers that placed these trades. The accounts at the trading firms for these two men should have been coded to indicate that the men came into regular contact with sensitive, market moving information. The nature and level of their trading should have triggered the immediate involvement of the firms' compliance departments and a halt to the trading. (See our earlier report on how a dozen legal safeguards failed, that should not have failed, to stop these men from humiliating the central bank of the United States around the world.)
Newly unearthed documents now put Wall Street megabanks Goldman Sachs and Citigroup at the center of this trading scandal. Both Goldman Sachs and Citigroup are bank holding companies that are supervised by...wait for it...the Federal Reserve. (Their broker-dealer units are supervised by the SEC and other securities regulators.) The documents suggest that rather than functioning as an arms-length supervisor of the banks, some Fed officials have gotten cozy with Goldman Sachs and Citigroup, receiving perks from these supervised entities.
Goldman Sachs has been supervised by the Federal Reserve since it became a bank holding company on September 21, 2008, in order to access bailout funds from the Fed. Despite Goldman Sachs being a supervised entity, Dallas Fed President Robert Kaplan owned four proprietary products offered by Goldman Sachs since he has been at the Dallas Fed: the Goldman Sachs Financial Square Money Market Fund; the Goldman Sachs Medium Term Managed Corporate Bond Account, the Goldman Sachs Private Equity Fund 2000 (which does not publicly trade), and a cryptic investment called Exchange Place LP which is listed on Kaplan's 2015 through 2020 financial disclosure forms in an amount of "over $1 million."
According to SEC filings, as of October 28, 2019, 1068 individuals had invested in Exchange Place LP to the tune of $2.1 billion. (It's impossible to tell from the SEC filing if that is the amount sold just in 2019 or the aggregate amount sold since the product was originated in 2014.)
https://wallstreetonparade.com/2021/10/new-documents-show-the-feds-trading-scandal-includes-two-of-the-wall-street-banks-it-supervises-goldman-sachs-and-citigroup/
#14718078 at 2021-10-04 16:32:10 (UTC+1)
Q Research General #18617: To Space and Beyond -Kirk pretty sure Edition
>>14718030
https://www.dailymail.co.uk/news/article-9998405/Fed-reviews-ethics-polices-prolific-trading-uncovered.html
REVEALED: Two Fed presidents with insider knowledge of US monetary policy sold millions of dollars of stock in blue-chip firms including Amazon, Apple, and Google last year, prompting ethics review
Robert Kaplan, president of the Dallas Federal Reserve Bank, traded millions of dollars of stock in companies such as Apple, Amazon, and Google in 2020
Eric Rosengren, president of the Boston Fed, traded in stocks and real estate investment trusts including Chevron, Pfizer, and Phillips 66
The trades were made last year during a time when the Fed took extraordinary steps to buoy US economy and stabilize financial markets during the pandemic
Comments made by Fed regional presidents can move markets and they have a hand in the Fed's interest rate policies
Senior US lawmakers - including Senator Elizabeth Warren of Massachusetts - demanded more stringent restrictions after Wall Street Journal reported trades
Federal Reserve Chair Jerome Powell ordered sweeping review of the ethics rules governing financial holdings and dealings by senior central bank officials
By ARIEL ZILBER FOR DAILYMAIL.COM and AGENCIES
PUBLISHED: 11:33 EDT, 16 September 2021 | UPDATED: 16:02 EDT, 16 September 2021
read more: https://www.dailymail.co.uk/news/article-9998405/Fed-reviews-ethics-polices-prolific-trading-uncovered.html
#14676090 at 2021-09-28 02:21:45 (UTC+1)
Q Research General #18563: Ebake for Victory 3rd Edition
? 🇺🇸 Sidney Powell 🇺🇸 🗽, [27.09.21 16:37]
[Forwarded from Disclose.tv]
JUST IN -Dallas Fed President Kaplan to retire early on Oct. 8, citing trading disclosure "distraction". The announcement came just hours after Boston Fed President Eric Rosengren abruptly decided to retire on Sept. 30.
https://t.me/SidneyPowell/2002
#14675986 at 2021-09-28 02:10:58 (UTC+1)
Q Research General #18563: Ebake for Victory 3rd Edition
https://www.dallasnews.com/business/banking/2021/09/27/rob-kaplan-to-retire-as-dallas-fed-president-after-controversy-over-financial-disclosures/
Rob Kaplan to retire as Dallas Fed president after controversy over financial disclosures
Boston Federal Reserve president Eric Rosengren also announced his retirement on Monday.
Rob Kaplan is retiring as president and CEO of The Federal Reserve Bank of Dallas after financial disclosures showed he was trading stocks last year while voting on critical monetary policy for the U.S. during the pandemic.
While the investments are permitted under the Fed's rules, Kaplan, 64, said he didn't want them to distract from the central bank's job to help the country recover.
"Unfortunately, the recent focus on my financial disclosure risks becoming a distraction to the Federal Reserve's execution of that vital work," Kaplan said in a statement. "For that reason, I have decided to retire as President and CEO of the Federal Reserve Bank of Dallas.
His retirement after six years at the helm will be effective Oct. 8 with First Vice President Meredith Black delaying her impending retirement to serve as interim president during the transition.
The announcement came hours after Boston Fed President Eric Rosengren said he was retiring early because he qualified for a kidney transplant. He originally planned to retire in June 2022 when he hit 65, the mandatory retirement age for bank presidents.
Both Fed officials had their 2020 financial stock-trading activities publicized in an article in The Wall Street Journal in September. After questions about the ethics of the trades, both Fed presidents announced they would sell all their individual stock holdings by Sept. 30.
At the time, Kaplan released a statement saying he would change his personal investment practices "to avoid even the appearance of any conflict of interest." He also said there would be no further trading in those accounts while he was the head of the Dallas Fed.
Since then, the Fed has launched a review of its trading rules for officials.
Kaplan and Rosengren both maintain they adhered to all of the Fed's ethical standards and policies. When Kaplan joined the bank, he sold all of his personal holdings related to financial institutions that the Fed had regulatory oversight over, the Dallas Fed noted in the retirement announcement.
Kaplan's financial transactions, showing millions of dollars in trades in 2020, stood out from the other Fed presidents' financial profiles, which were more modest. Kaplan had 27 stock, fund or alternative asset holdings valued at over $1 million each, including Apple, Alibaba, Amazon, Facebook, Google and Tesla. He also had 22 buying or selling transactions valued at over $1 million each.
Rosengren's financial disclosures showed stakes in four separate real estate investment trusts and disclosed multiple purchases and sales in those and other securities last year.
Federal Reserve Bank presidents are subject to mandatory retirement at 65 years of age unless they're appointed after the age of 55, in which case they can serve up to 10 years before having to retire. Since Kaplan was appointed in 2015 at age 58, he could have served until 2025.
Before joining the Dallas Fed as its 13th leader, Kaplan spent 23 years at Goldman Sachs and taught at Harvard Business School. At Goldman Sachs, he became a partner in 1990 and went on to become vice chairman and then senior director of the firm.
At the 1,200-employee Dallas Fed, he heads a district that includes Texas, northern Louisiana and southern New Mexico.
#14675720 at 2021-09-28 01:25:11 (UTC+1)
Q Research General #18562: COLLECT NOTABLES Edition
>>14673739 (pb)
>BREAKING: Dallas Fed President Kaplan just announced he is resigning October 8
The Dallas Fed President/CEO and the Boston Fed President Eric Rosengren, both made millions inside trading as they were voting on policy and making a lot of money based on their policies.
Excerpt from The Dallas Morning News:
""Unfortunately, the recent focus on my financial disclosure risks becoming a distraction to the Federal Reserve's execution of that vital work," Kaplan said in a statement. "For that reason, I have decided to retire as President and CEO of the Federal Reserve Bank of Dallas.
His retirement after six years at the helm will be effective Oct. 8 with First Vice President Meredith Black delaying her impending retirement to serve as interim president during the transition.
The announcement came hours after Boston Fed President Eric Rosengren said he was retiring early because he qualified for a kidney transplant. He originally planned to retire in June 2022 when he hit 65, the mandatory retirement age for bank presidents.
Both Fed officials had their 2020 financial stock-trading activities publicized in an article in The Wall Street Journal in September. After questions about the ethics of the trades, both Fed presidents announced they would sell all their individual stock holdings by Sept. 30.
At the time, Kaplan released a statement saying he would change his personal investment practices "to avoid even the appearance of any conflict of interest." He also said there would be no further trading in those accounts while he was the head of the Dallas Fed. Kaplan and the other Fed President to retire under the same circumstances Eric Rosengren, Boston Fed, both insist they did everything "by the book" of course. Nothing to see here, moving along.
Since then, the Fed has launched a review of its trading rules for officials.
Kaplan and Rosengren both maintain they adhered to all of the Fed's ethical standards and policies. When Kaplan joined the bank, he sold all of his personal holdings related to financial institutions that the Fed had regulatory oversight over, the Dallas Fed noted in the retirement announcement.
Kaplan's financial transactions, showing millions of dollars in trades in 2020, stood out from the other Fed presidents' financial profiles, which were more modest. Kaplan had 27 stock, fund or alternative asset holdings valued at over $1 million each, including Apple, Alibaba, Amazon, Facebook, Google and Tesla. He also had 22 buying or selling transactions valued at over $1 million each.
Rosengren's financial disclosures showed stakes in four separate real estate investment trusts and disclosed multiple purchases and sales in those and other securities last year."
Sauce: https://www.dallasnews.com/business/banking/2021/09/27/rob-kaplan-to-retire-as-dallas-fed-president-after-controversy-over-financial-disclosures/
#14671507 at 2021-09-27 13:21:28 (UTC+1)
Q Research General #18557: We Have Only Just Begun To Fight! Edition
Dust off the Resignations List…
https://www.zerohedge.com/markets/boston-fed-president-Eric-Rosengren-retire-after-ethics-issue
#14632644 at 2021-09-22 00:02:49 (UTC+1)
Q Research General #18510: Clear And Present Danger Edition
Corruption at the Fed: Are AmErica's Money Masters Engaged in Self-Dealing?
AmErica's central bankers are tasked with impartial oversight over aspects of the AmErican economy. But could these individuals be making decisions on interest rates and bailout operations based on what is best for their own personal investment portfolios?
After some embarrassing revelations regarding the trading activities of two senior officials, Federal Reserve Chairman Jerome Powell abruptly ordered a comprehensive examination last week into internal compliance with an ethics rule directing Fed employees to avoid "actual and apparent conflicts of interest."
According to the Fed's official code of conduct, Fed officials are "prohibited from participating personally and substantially in an official capacity in any particular matter in which, to the employee's knowledge, the employee has a financial interest if the particular matter will have a direct and predictable effect on that interest."
Documents revealed that Dallas Fed President Robert Kaplan and Boston Fed President Eric Rosengren made several trades of individual stocks, in some cases worth $1 million or more, in markets where Fed actions have impacted financial performance.
Additionally, several Fed officials personally held the same type of assets the Fed itself was buying.
According to CNBC, Chairman Powell held between $1.25 and $2.5 million of municipal bonds. The bonds were purchased in 2019 but they were in Chairman Powell's control while the Fed bought more than $5 billion in municipal bonds to support that market.
Fed President Rosengren held between $151,000 and $800,000 worth of real-estate investment trusts that owned mortgage-backed securities - all while the Fed was active in that market.
More specifically, Rosengren made as many as 37 separate trades in four investment trusts contemporaneous to the Fed's own purchase of almost $700 billion in mortgage-backed securities.
Meanwhile, the Federal Reserve announced last year that it would open a corporate bond-buying facility and purchased almost $47 billion of corporate bonds.
Rosengren wasn't the only Fed official making money on corporate bonds. CNBC noted that Richmond Fed President Thomas Barkin held $1.35 million to $3 million in individual corporate bonds of Pepsi, Home Depot, and Eli Lilly purchased before 2020.
And according to Reuters, Fed President Kaplan's financial disclosure included several sales or purchases of at least $1 million in individual company shares or investment funds, including Apple Inc. (a stock that's almost doubled since COVID-relief efforts began in March 2020). In July 2020, the Federal Reserve bought $25.5 million in Apple's corporate bonds.
https://www.activistpost.com/2021/09/corruption-at-the-fed-are-amEricas-money-masters-engaged-in-self-dealing.html
#14606023 at 2021-09-18 02:09:56 (UTC+1)
Q Research General #18476: Maricopa County Reached Settlement With State Senate Edition
Fed Chief Powell, other officials owned securities central bank bought during Covid pandemic
Federal Reserve Chairman Jerome Powell has ordered a review of ethics rules for the central bank after an outcry over officials owning individual securities.
CNBC found Powell owned municipal bonds of the same type bought by the Fed during the Covid-19 pandemic in 2020.
Two regional Fed presidents likewise owned assets of the same type the Fed was buying as the coronavirus threatened the U.S. economy's health.
The central bank's code of conduct says officials "should be careful to avoid any dealings or other conduct that might convey even an appearance of conflict between their personal interests, the interests of the system, and the public interest."
Amid an outcry about Federal Reserve officials owning and trading individual securities, an in-depth look by CNBC at officials' financial disclosures found three who last year held assets of the same type the Fed itself was buying, including Chairman Jerome Powell.
None of these holdings or transactions appeared to violate the Fed's code of conduct. But they raise further questions about the Fed's conflict of interest policies and the oversight of central bank officials.
Powell held between $1.25 million and $2.5 million of municipal bonds in family trusts over which he is said to have no control. They were just a small portion of his total reported assets. While the bonds were purchased before 2019, they were held while the Fed last year bought more than $5 billion in munis, including one from the state of Illinois purchased by his family trust in 2016.
Boston Fed President Eric Rosengren held between $151,000 and $800,000 worth of real estate investment trusts that owned mortgage-backed securities. He made as many as 37 separate trades in the four REITS while the Fed purchased almost $700 billion in MBS.
Richmond Fed President Thomas Barkin held $1.35 million to $3 million in individual corporate bonds purchased before 2020. They include bonds of Pepsi, Home Depot and Eli Lilly. The Fed last year opened a corporate bond-buying facility and purchased $46.5 billion of corporate bonds.
Among those questions: Should the Fed have banned officials from holding, buying and selling the same assets the Fed itself was buying last year when it dramatically widened the types of assets it would purchase in response to the pandemic?
The Fed's own code of conduct says officials "should be careful to avoid any dealings or other conduct that might convey even an appearance of conflict between their personal interests, the interests of the system, and the public interest."
In response to CNBC questions asked in the process of our research, a Fed spokesperson released a statement Thursday saying Powell ordered a review last week of the Fed's ethics rules surrounding "permissible financial holdings and activities by senior Fed officials."
A Fed spokesperson told CNBC that Powell had no say over the central bank's individual municipal bond purchases and no say over the investments in his family's trusts. A Fed ethics officer determined that the holdings did not violate government rules.
Barkin declined to comment but he did not appear to have any say over the individual corporate bonds purchased by the Fed.
https://www.cnbc.com/2021/09/17/fed-officials-owned-securities-it-was-buying-during-pandemic-raising-more-questions-about-conflicts.html
#14598050 at 2021-09-17 01:22:20 (UTC+1)
Q Research General #18466: History Repeats Itself But It Is Different This Time Edition
Federal Reserve Chair orders ethics review of central bank
Federal Reserve Chairman Jerome Powell directed staff to the central bank's ethics rules following recent reports that two of the system's regional bank presidents had been active investors during 2020
Federal Reserve Chairman Jerome Powell ordered staff to review ethics guidelines governing the financial dealings by top central bank officials.
News of Powell's inquiry broke after Sen. Elizabeth Warren, D-Mass., sent 12 letters to the Fed's regional banks demanding stricter ethics guidelines be implemented by the Fed's top officials.
The Massachusetts Democrat called on each president to ban the ownership and trading of personal stocks by top officials at each regional bank office.
Powell requested the ethics review late last week, a spokesperson said in a statement, following reports that two regional presidents actively invested during 2020.
A Fed spokesperson told CNBC that Powell ordered the review "because the trust of the AmErican people is essential for the Federal Reserve to effectively carry out our important mission."
According to documents released last week, Fed Presidents Robert Kaplan and Eric Rosengren both bought or sold private stocks in excess of $1 million dollars. Other Fed presidents reported little to no trading activity.
Amid the public backlash and scrutiny from Congress, both Kaplan and Rosengren said they would sell any individual stock holdings by the end of the month.
Current Fed regulations forbid the trading of individual stocks by senior officials around the time of policy meetings due to the sharing of information that could have significant influence on the nation's economy.
Powell emphasized that although it is not illegal for regional presidents to buy or sell stocks, the Fed's internal rules require officials to avoid even the appearance of conflict or of using their position for personal gain.
It is not yet clear how long the ethics review will take.
https://justthenews.com/accountability/political-ethics/federal-reserve-chair-orders-ethics-review-central-bank
#14550930 at 2021-09-10 03:12:06 (UTC+1)
Q Research General #18406: State Governors That Have Stood Up to Biden's Vaccination Mandate Edition
Fed's Kaplan, Rosengren to Sell All Stocks Amid Ethics Concerns
https://www.bloomberg.com/news/articles/2021-09-09/fed-s-kaplan-Rosengren-to-sell-all-stocks-amid-ethics-concerns
The presidents of the Federal Reserve banks of Boston and Dallas said they are selling their individual stock holdings by Sept. 30, in moves aimed at quenching ethical concerns over their trading activity last year.
Boston Fed chief Eric Rosengren and Dallas Fed's Robert Kaplan released near-identical statements Thursday after their most recent financial disclosure documents showed active trading in a range of investments during a year in which the central bank took sweeping policy actions to protect the U.S. economy from Covid-19.
#8446862 at 2020-03-17 06:30:24 (UTC+1)
Q Research General #10814: The Funkalicious Get Dawn - We Ain't Sleepin' Edition
Central Banking is Socialism
Last week, the Federal Reserve responded to Wall Street's coronavirus panic with an "emergency" interest rate cut. This emergency cut failed to revive the stock market, leading to predictions that the Fed will again cut rates later this month.
More rate cuts would drive interest rates to near, or even below, zero. Lowering interest rates punishes people for saving, thus encouraging consumers and businesses to spend every penny they make. This may give the economy a short-term boost. But, it inhibits long-term economic growth by depleting the savings necessary for investments in businesses and jobs. The result of this policy will be more pressure on the Fed to indefinitely maintain low interest rates and on the Congress and president to create another explosion of government "stimulus" spending.
Boston Federal Reserve President Eric Rosengren has suggested that Congress allow the Federal Reserve to add assets of private companies to the Fed's already large balance sheet. Allowing the central bank to buy assets of, and thus assume a partial ownership interest in, private companies would give the Federal Reserve even greater influence over the economy. It could also allow the Fed to advance a political agenda by, for example, favoring investment in "green energy" companies over other companies or refusing to purchase assets of retailers who sell firearms or tobacco products.
Mr. Rosengren's proposal to allow the central bank to "invest," in private companies seems like something one would hear from democratic socialists like Senator Bernie Sanders. This is not surprising since the entire Federal Reserve system is a textbook example of socialism.
The essence of socialist economics is government allocation of resources either by seizing direct control of the "means of production" or by setting prices business can charge. Federal Reserve manipulation of interest rates is an attempt to set the price of money. Federal Reserve attempts to set interest rates distort the signals sent by the rates to investors and business. This results in a Fed-created boom, which is inevitably followed by a Fed-created bust.
Economic elites benefit when the Federal Reserve pumps new money into the economy because they have access to the money created before there are widespread price increases. Artificially low interest rates also facilitate the growth of the welfare-warfare state.
The Federal Reserve's inflationary policies harm the average AmErican by eroding the dollar's purchasing power. This forces consumers to rely on credit cards and other forms of debt to maintain their standard of living. Many AmEricans are unable to afford their own homes because they are saddled with student loan debt that can even exceed their income.
Since the bailouts of 2008, there has been a growing understanding that the current system is rigged in favor of the elites and against the average AmErican. Unfortunately, popular confusion of our system of Keynesian neoliberalism with a free-market economy, combined with a widespread entitlement mentality, has led many AmEricans to support increasing government control of our economy.
The key to beating back the rising support for socialism on both the left and right is helping more people understand that big government and central banking are the cause of their problems and that free markets in all areas - and especially in money - is the solution. It is important that the liberty movement put pressure on Congress to cut spending and rein in or, better yet, end the Fed.
http://www.ronpaulinstitute.org/archives/featured-articles/2020/march/09/central-banking-is-socialism/
#8370910 at 2020-03-10 22:19:13 (UTC+1)
Q Research General #10716: The Fake Media Tried To Stop Us ~ That Didn't Work Edition
Central Banking Is Socialism! - Dr. Ron Paul
Last week, the Federal Reserve responded to Wall Street's coronavirus panic with an "emergency" interest rate cut. This emergency cut failed to revive the stock market, leading to predictions that the Fed will again cut rates later this month.
More rate cuts would drive interest rates to near, or even below, zero. Lowering interest rates punishes people for saving, thus encouraging consumers and businesses to spend every penny they make. This may give the economy a short-term boost. But, it inhibits long-term economic growth by depleting the savings necessary for investments in businesses and jobs. The result of this policy will be more pressure on the Fed to indefinitely maintain low interest rates and on the Congress and president to create another explosion of government "stimulus" spending.
Boston Federal Reserve President Eric Rosengren has suggested that Congress allow the Federal Reserve to add assets of private companies to the Fed's already large balance sheet. Allowing the central bank to buy assets of, and thus assume a partial ownership interest in, private companies would give the Federal Reserve even greater influence over the economy. It could also allow the Fed to advance a political agenda by, for example, favoring investment in "green energy" companies over other companies or refusing to purchase assets of retailers who sell firearms or tobacco products.
Mr. Rosengren's proposal to allow the central bank to "invest," in private companies seems like something one would hear from democratic socialists like Senator Bernie Sanders. This is not surprising since the entire Federal Reserve system is a textbook example of socialism.
The essence of socialist economics is government allocation of resources either by seizing direct control of the "means of production" or by setting prices business can charge. Federal Reserve manipulation of interest rates is an attempt to set the price of money. Federal Reserve attempts to set interest rates distort the signals sent by the rates to investors and business. This results in a Fed-created boom, which is inevitably followed by a Fed-created bust.
Economic elites benefit when the Federal Reserve pumps new money into the economy because they have access to the money created before there are widespread price increases. Artificially low interest rates also facilitate the growth of the welfare-warfare state.
The Federal Reserve's inflationary policies harm the average AmErican by eroding the dollar's purchasing power. This forces consumers to rely on credit cards and other forms of debt to maintain their standard of living. Many AmEricans are unable to afford their own homes because they are saddled with student loan debt that can even exceed their income.
Since the bailouts of 2008, there has been a growing understanding that the current system is rigged in favor of the elites and against the average AmErican. Unfortunately, popular confusion of our system of Keynesian neoliberalism with a free-market economy, combined with a widespread entitlement mentality, has led many AmEricans to support increasing government control of our economy.
The key to beating back the rising support for socialism on both the left and right is helping more people understand that big government and central banking are the cause of their problems and that free markets in all areas - and especially in money - is the solution. It is important that the liberty movement put pressure on Congress to cut spending and rein in or, better yet, end the Fed.
http://news.goldseek.com/RonPaul/1583871753.php
#8335077 at 2020-03-06 21:02:09 (UTC+1)
Q Research General #10671: Tuberville Mystery Unravels Edition
Boston Fed's Rosengren Says Fed May Soon Have To Buy Stocks
Three weeks ago, former Fed Chair Janet Yellen incepted the idea that during the next crisis, the Fed should consider expanding the range of assets it would purchase, most notably buying stocks. Our comment to this was that "thanks to Janet Yellen, we now we know that before the current fiat regime of central banks finally ends and before stocks go limits up as the revolution starts, the Fed will order a POMO of, well, everything in one final, last ditch effort to keep social stability by creating the impression that stocks are stable and rising even as society implodes."
Well, thanks to experiments conducted in a Chinese P-4 biolab, the next crisis appears to have arrived in the form of the coronavirus pandemic, and the idea of the Fed buying stocks is now on the agenda, case in point Boston President Eric Rosengren, who echoed Yellen, and said the Fed should be allowed to buy a broader range of assets - either by change of mandate or through a facility that allows it to buy stocks - if it lacks sufficient ammunition to fight off a recession with interest-rate cuts and bond purchases. In such a scenario, the US Treasury should indemnify the Fed against losses, Rosengren said in the text of remarks scheduled for delivery Friday in New York.
In a situation where both short-term interest rates and 10-year Treasury rates approach the zero lower bound, allowing the Federal Reserve to purchase a broader range of assets could be important.
Excerpt: "In such a case, as Marvin highlighted in his 1999 article, we should allow the central bank to purchase a broader range of securities or assets. Such a policy, however, would require a change in the Federal Reserve Act. ... Alternatively, the Federal Reserve could consider a facility that could buy a broader set of assets, provided the Treasury agreed to provide indemnification.
Rosengren also warned the Fed would face greater challenge than in 2008 crisis when Fed's benchmark rate was cut to nearly zero, because yields on longer-run Treasuries have fallen below 1%.
Fed Reluctant to Do an Emergency Cut, Says Julius Baer's Matthews
"Such a situation would raise challenges policy makers did not face even during the Great Recession," he says at conference hosted by the Shadow Open Market Committee.
That said, Rosengren rejected the option of pushing the federal funds rate below zero in a recession, because somehow buying stocks rather than going NIRP makes more sense. Negative rates would harm banks and may make an economic recovery more difficult, he says
Goodfriend suggested that negative interest rates might be an effective policy tool in some situations - but Rosengren remains skeptical, saying the experience in Europe and Japan shows the adverse side effects are likely quite large.
Excerpt: "In my view, negative interest rates poorly position an economy to recover from a downturn. ... I view the recent experience of countries with negative rates as evidence that such a policy would not be particularly successful in stimulating economic activity. ... [Also,] we need banks to be healthy enough to provide credit and liquidity in challenging economic times.
Rosengren also pointed out something we had pounded the table on in the past, namely that dovish central bank policy is now deflationary, highlighting that in countries that employed negative rates since 2008, the impact on retirement savings and pension funds has incentivized more savings and less spending.
https://www.zerohedge.com/markets/boston-feds-Rosengren-says-fed-may-soon-have-buy-stocks
#7652977 at 2019-12-29 16:05:18 (UTC+1)
Q Research General #9792: Skeletons Interning in the DNC Closet Edition
Trading a Dove for Two Hawks: A Look at the Fed's 2020 Voters
Dove Kashkari, centrist Kaplan replace hawks George, Rosengren. Somewhat hawkish-leaning Mester and Harker also gain the vote.
Federal Reserve projections show no interest-rate changes next year but the annual rotation among voters could still influence policy as incoming members include an outspoken dove while two hawks depart.
Minneapolis Fed chief Neel Kashkari, who called vocally for rate cuts during 2019,
(and has never done ANYTHING remotely tied to the level of power he has now-also thought he was going to be Cal's governor too)
is the clear dove among the four new voters. He joins alongside Robert Kaplan from Dallas, Philadelphia's Patrick Harker and Loretta Mester from Cleveland. Each of them, along with every other Fed official, forecast no change in rates in 2020 in the dot plot published on Dec. 11 – a striking demonstration of unity as the country heads into a U.S. presidential election year.
They replace Kansas City Fed President Esther George and Boston's Eric Rosengren, hawks who both dissented against all three rate cuts this year. The others departing are dove James Bullard from St. Louis, who wanted a half-point rather than quarter-point cut in September, and Chicago's Charles Evans, who also supported easier monetary policy to ensure the Fed lifts inflation to its 2% target on a sustainable basis.
The yearly voter rotation among regional Fed presidents can foreshadow looming splits over policy that generate dissents, depending on who gets the vote and how strongly they disagree with their colleagues. But it generally won't dictate the path of policy. That's because Fed Chairman Jerome Powell can probably count on the support of the Board of Governors, plus New York Fed President John Williams, who also wields a permanent FOMC vote. That means Powell has six votes against the four in the hands of the remaining regional Fed chiefs, in the rare event that all four voted the same way against him.
Here's what the four new voters have recently said about their outlooks.
Mester (somewhat hawkish)
The Cleveland Fed president is probably the most hawkish of the four, though her recent comments that policy is now in a "good spot" following three cuts don't show any current pressure for a change. That said, the PhD economist and long-time Fed insider said she hadn't favored cutting rates three times. As a result, she may start pushing for tighter policy if inflation picks up with unemployment at a 50-year low.
Kashkari (dove)
Minneapolis Fed chief Neel Kashkari was an outspoken advocate for cutting rates last year when inflation failed to pick up as expected. He's argued the central bank should commit to not raising rates again until core inflation rises back to 2% on a sustained basis. The remarks suggest Kashkari won't be pushing to raise rates any time soon, and will make the case for allowing inflation to run above 2% without the Fed hitting the policy breaks – in order to demonstrate its commitment to achieving that target on a sustainable basis.
Kaplan (centrist)
The Dallas Fed chief sees a sluggish economy in 2020, so things would have to deteriorate for him to back easing policy further. He'd been open to easing earlier in 2019 after the yield curve inverted. But he told Bloomberg Television on Dec. 18 that with the curve sloping upward, Fed policy is probably in the right place. Nor did he sound worried about inflation, saying the pricing power of businesses has been eroded by technology and he expects inflation to be "muted for some period of time." He has never dissented since joining the Fed in 2015.
Harker (centrist with hawkish bent)
Philadelphia's Harker spoke out several times against the Fed's rate cuts this year, which he said were unwarranted because the economy appeared to be weathering uncertainty caused by trade tension between the U.S. and China. That could signal he'd favor raising rates sooner rather than later to stay ahead of inflation amid very low unemployment. He has never dissented at an FOMC meeting since joining the Fed in 2015.
https://www.bloomberg.com//news/articles/2019-12-29/trading-a-dove-for-two-hawks-a-look-at-the-fed-s-2020-voters
#7411751 at 2019-12-02 17:08:15 (UTC+1)
Q Research General #9478: Baker's Helper Edition
Federal Reserve Proposes New Rule To Let Inflation Run "Hot" Ahead Of Next Recession
As the Federal Reserve remains unable to stoke inflation (because it refuses to measure it correctly) and refuses to factor in asset price inflation…
.. it has now considered launching a new rule that would let inflation run above its 2% target to make up for lost inflation, reported the Financial Times.
Though the Fed's policies are to protect big Wall Street banks and keep liquidity ample in the financial system, its policies have overwhelmingly created deflation through supporting zombie companies and blowing financial bubbles.
So to "make up" for lost inflation, the Fed will temporarily increase the target range above 2%, also known as "symmetric" overinflation. The policy would "make it clear that it's acceptable that to average 2 percent, you can't have only observations that are below 2 percent," according to Eric Rosengren, president of the Federal Reserve Bank of Boston, who recently spoke with FT.
Fed members have expressed concerns that reverting the federal funds rate to the zero lower bound will drive inflation expectations lower, a real risk of Japanification, something Albert Edwards is especially concerned about.
https://www.zerohedge.com/markets/federal-reserve-proposes-new-rule-let-inflation-run-hot-ahead-next-recession
#7411314 at 2019-12-02 15:20:57 (UTC+1)
Q Research General #9478: Baker's Helper Edition
Federal Reserve Proposes New Rule To Let Inflation Run "Hot" Ahead Of Next Recession
As the Federal Reserve remains unable to stoke inflation (because it refuses to measure it correctly) and refuses to factor in asset price inflation…… it has now considered launching a new rule that would let inflation run above its 2% target to make up for lost inflation, reported the Financial Times.
Though the Fed's policies are to protect big Wall Street banks and keep liquidity ample in the financial system, its policies have overwhelmingly created deflation through supporting zombie companies and blowing financial bubbles.So to "make up" for lost inflation, the Fed will temporarily increase the target range above 2%, also known as "symmetric" overinflation. The policy would "make it clear that it's acceptable that to average 2 percent, you can't have only observations that are below 2 percent," according to Eric Rosengren, president of the Federal Reserve Bank of Boston, who recently spoke with FT. Fed members have expressed concerns that reverting the federal funds rate to the zero lower bound will drive inflation expectations lower, a real risk of Japanification, something Albert Edwards is especially concerned about.
Officials have also lamented that the since the fed funds rate is so low compared to history, any recession could make monetary policy ineffective, though there is always the reality that the Fed will merely unleash negative interest rates during the next recession.
Meanwhile, Fed members have been experimenting with new monetary tools ahead of the next downturn. Janet Yellen said the new rule could be like "forward guidance," which enabled the Fed to pressure short-term interest rates lower. This eventually allowed longer-term rates to fall as well.
Rosengren said, "future committees might not be as comfortable with that formulaic approach. This is why I prefer something that is a little bit more flexible, maybe not as constraining, but makes it a little clearer that we should be having [some inflation readings] over 2 percent."
Fed governor Lael Brainard, spoke with reporters last week, said the new rule is to complex to elaborate on with the public. She said if inflation drops, the Fed should allow inflation to run hot, perhaps in a range of 2 to 2.5%.
In plain English, the Fed is afraid that its its own policies are Japanifying the US economy and in response is willing to… drumroll… double down which will somehow push inflation run above target, when in reality it will simply unleash even more deflation! The strategy clearly shows the Fed is making up policy as it goes ahead of the next recession, where monetary policy will be less effective than ever before. The silver lining: risk prices will be at all time high as the world careens toward the next global recession.
https://www.zerohedge.com/markets/federal-reserve-proposes-new-rule-let-inflation-run-hot-ahead-next-recession
#7294333 at 2019-08-01 17:03:16 (UTC+1)
Q Research General #9333: Domestic Terrorists - Level Unlocked Edition
Atlanta Fed model raises U.S. third-quarter GDP view to 2.2%
The U.S. economy grew at a 2.2% annualized rate in the third quarter based on the latest data on national manufacturing activity and construction spending, the Atlanta Federal Reserve's GDPNow forecast model showed on Thursday.
This was faster than the 2.0% pace estimated by the Atlanta Fed's GDP program on Tuesday.
https://www.reuters.com/article/us-usa-economy-atlantafed/atlanta-fed-model-raises-u-s-third-quarter-gdp-view-to-2-2-idUSKCN1UR58Y
The rate cut saw two dissents, with Fed presidents Esther L. George of Kansas City and Eric Rosengren of Boston casting no votes, as many observers had expected.
#7278946 at 2019-07-31 18:12:12 (UTC+1)
Q Research General #9313: Reread Crumbs Anons! SHTF SOON! Edition
Powell Pivot Complete - Fed Cuts Rates For First Time In 11 Years, Faces Two Dissents
Just over eight months since Fed Chair Powell panicked and pivoted as global stocks (and bond yields) tumbled, the flip-flop is complete as The Fed has cut rates (by 25bps) for the first time since Dec 2008 (and cut the IOER to 2.1% from 2.35%).
Additionally, the Fed ends the normalization of the balance sheet two months ahead of schedule.
Fed praises US economy, blames rest of the world for cutting:
"In light of the implications of global developments for the economic outlook as well as muted inflation pressures, the Committee decided to lower the target range for the federal funds rate to 2 to 2-1/4 percent"
Esther George and Eric Rosengren both dissented, wanting to leave rates unchanged.
Mission Accomplished Mr. Trump.
From expectations of 100bps of rate-hikes priced-in in Nov 2018, Powell's massive pivot now markets pricing in 100bps of rate-cuts…
US Macro data has been better than expected since the June FOMC.
he last time The Fed started a rate-cutting cycle, valuations were dramatically lower…Financial Conditions are even easier now than they were in 2007 when The Fed started to cut rates.
Finally, according to the traditional Taylor Rule model (with Core PCE at 1.6% and Unemployment at 3.7%), The Fed Funds rate should be around 225bps HIGHER.
(Yes but this is the time to NOT factor in academic modeling)
The Fed Funds futures market priced in a 68% chance of another 25bps cut in September… and then done (dramatically less dovish than the rates forward market is priced for).
n a brief 45 seconds, Liesman drops the "existential" threat argument for why Powell will do whatever it takes to stay in Trump's good graces…
"If The Fed gets this wrong, I think that they think if they make a mistake here, The Fed could be gone…"
Liesman expands on his ominous view:
"Think about what happens when a person gets up at a rally and starts railing against The Federal Reserve, and starts to create what could lead to Congressional pressure on The Fed, then you could imagine that their could be support for a different system."
"I think they think there's a lot of political downside risk to getting this wrong."
https://www.zerohedge.com/news/2019-07-31/powell-pivot-complete-fed-cuts-rates-first-time-12-years
Cap#2 is current September odds for another cut. 100% probability for another.
https://www.cmegroup.com/trading/interest-rates/countdown-to-fomc.html/
#7103382 at 2019-07-19 23:40:45 (UTC+1)
Q Research General #9089: Substation Conflagration Edition
Fed's Rosengren not on board for rate cut: 'I think we should wait'
*Boston Fed President Eric Rosengren told CNBC in a Friday interview that he does not see a rate cut as necessary.
*The economy "is quite strong" and is not showing signs that more central bank accommodation is needed, he said.
Boston Federal Reserve President Eric Rosengren is lining up against an apparent push to cut interest rates, telling CNBC in an interview Friday that the central bank can afford to be patient as long as the economy holds up.
Speaking just 12 days before the Fed is expected to ease monetary policy, Rosengren said he is aware of uncertainties and downside risks but doesn't think they're strong enough yet to warrant the first rate reduction since late 2008 during the financial crisis.
"So, given that the economy is quite strong, given that I do think that inflation is going to be very close to 2%, and given that the growth in the economy is satisfactory, I think that's an environment where you don't have to take a lot of action," he told CNBC's Sara Eisen during a "Closing Bell " interview.
"Now, should the economy change, if the trade situation changes dramatically, if we start getting surprised by how slow China or Europe are, then that's something we definitely should react to. But I think we should wait until we actually see the evidence that that's happening," Rosengren added.
That position seemingly puts him on the opposite side of Fed Chairman Jerome Powell as well as multiple other policymakers who appear inclined to approve at least a quarter-point cut at the July 30-31 Federal Open Market Committee meeting. Markets have completely priced in at least a 25 basis point reduction, with a 41% chance of a 50 basis point cut.
Rosengren joins Kansas City Fed President Esther George as the only two FOMC voters who have publicly stated they don't see the need for a cut, at least not yet.
Those favoring a reduction cite global weakness, the impact from tariffs, testy debt ceiling negotiations and weak inflation among their concerns. But Rosengren said that he's looking for concrete evidence of a slowdown, "and to date, I'm not seeing that."
"And you don't just worry about how the current data's coming in. You do have to think about how the data will be going forward. But I would say most of the news that we've been getting, at least over the last month, has been pretty good," he added.
'Insurance' cut could be costly
Market participants and some Fed officials, particularly St. Louis Fed President James Bullard, have cited the need for an "insurance" cut to serve as a buffer against potential weakness. Such a move also would offset the December rate increase, which has been criticized harshly by President Donald Trump, who took a few more shots against the Fed in a series of tweets Friday.
Rosengren said such an insurance move comes with costs, and might be particularly risky considering how high the stock market has soared and the surging levels of corporate debt.
"It's not costless to take out insurance," he said. "You pay a premium for the insurance. And one of the ways that you think about that cost is what you're doing to financial stability."
Approving an insurance cut would come at a time when the unemployment rate is near a 50-year low, the economy grew 3.1% in the first quarter and is projected to see a 2% gain in the second quarter, and recent data on retails sales and manufacturing, at least in the Philadelphia and New York Fed districts, was significantly better than expected.
Housing continues to be a drag, and there is concern about corporate earnings. Also, the New York Fed's recession probability indicator, which uses the spread between government bond yields as a yardstick, is indicating a 33% chance in the coming 12 months, the most elevated since the financial crisis.
However, Rosengren pointed out that the only recent times the Fed has approved an insurance cut have come to combat unusual events - the Sept. 11, 2001 terror attacks, the collapse of the Long Term Capital Management hedge fund in 1998 and the Black Monday stock market crash in 1987 prominent among them.
https://www.cnbc.com/2019/07/19/feds-Rosengren-not-on-board-for-rate-cut-i-think-we-should-wait.html
from January 2008
you forgot the .75-basis point cut that bernancke did when the societe generale trader "allegedly" fat-fingered the SP500 index with SPY shares and you shits panicked. Not an insurance cut but you cut nontheless.
2008 Société Générale trading loss
https://en.wikipedia.org/wiki/2008_Soci%C3%A9t%C3%A9_G%C3%A9n%C3%A9rale_trading_loss
Fed slashes key rate to 3.5%
https://money.cnn.com/2008/01/22/news/economy/fed_rates/index.htm
#6550780 at 2019-05-21 16:21:45 (UTC+1)
Q Research General #8376: Doug Collins Scortches Dems! Edition
Boston Fed's Rosengren sees 'no clarion call' for interest-rate hike soon
Senior Fed officials more wary of low inflation than rising prices.
The head of the Boston Federal Reserve said he sees "no clarion call" to raise interest rates any time soon, suggesting the central bank's hands-off approach could help counter the risk of dangerously low inflation.
Eric Rosengren, president of the Boston Fed, said mixed economic signals and a festering trade dispute with China means "the Fed can afford to wait and see" before it takes any action. Earlier this year the Fed tabled previous plans to raise interest rates again in 2019.
Rosengren is not a voting member of the Fed board that sets a key U.S. interest rate, but his remarks in a speech on Tuesday to the Economic Club of New York echo recent comments by other senior Fed officials.
While the lowest unemployment rate in 50 years indicates the Fed should raise interest rates, Rosengren said, the low rate of inflation normally would result in the central bank cutting rates. The jobless rate stood at 3.6% in April, and inflation as measured by the core PCE price index grew just 1.6% in the 12 months ending March.
The Fed still expects inflation to reach or exceed its long-run target of 2%, Rosengren, but "given that inflation has underrun the target over the last several years, it is wise to admit to some uncertainty about this part of the forecast."
Another complicating factor is the recent flareup in trade tensions with China after it seemed like a far-reaching deal might be near.
Rosengren said stiff U.S. tariffs applied to Chinese goods are basically a tax on AmErican consumers and would add to upward pressure on inflation, but he still expects both sides to "work to reach agreement" before serious economic damage is done.
What is more worrying to Rosengren is the possibility that inflation grows even weaker and causes a deflationary spiral similar to what happened in Japan. Falling prices are often accompanied by falling wages and even a decline in living standards.
"While policy should not overreact to temporary inflation misses from the Fed's target, it would not be desirable to continue consistently undershooting inflation," Rosengren said.
The Boston Fed president also expressed openness to the idea of letting inflation run slightly above 2% for awhile as a way to persuade Wall Street that the central bank is serious about meeting its target and staving off deflation.
"It might reinforce the notion that policymakers aim to achieve 2% inflation on average, not allowing long periods of below-2% inflation to reset inflation expectations below the 2% inflation goal," he said.
The Dow Jones Industrial Average DJIA, +0.55% has climbed 10% this year, and the yield on the benchmark 10-year Treasury TMUBMUSD10Y, +0.52% has fallen more than a quarter percentage point in 2019.
https://www.marketwatch.com/story/boston-feds-Rosengren-sees-no-clarion-call-for-interest-rate-hike-soon-2019-05-21?siteid=rss&rss=1
#6487673 at 2019-05-13 15:25:11 (UTC+1)
Q Research General #8296: Trade War Goes Hot Edition
Dow tumbles more than 600 points as U.S.-China tariff battle escalates
China editorial says country won't 'bow to any extreme pressure'
U.S. stocks fell sharply Monday morning as China moved to raise tariffs on U.S. goods and take other retaliatory measures after Washington last week increased duties on Chinese imports and both sides appeared to harden their positions.
How did the benchmark indexes fare?
looks likely to meet or exceed daily average volume today-of course on a down day.
The Dow Jones Industrial Average DJIA, -2.29% fell 600 points, or 2.32%, to 25,339, while the S&P 500 index SPX, -2.36% dropped 68 points, or 2.28%, to 2,815. The Nasdaq Composite Index COMP, -3.15% slid 224 points, or 3.14%, to 7,672.
These are correct as of 11:21am EST but not in the article
Read: Why the stock market is at the mercy of the U.S. consumer
What drove the market?
Trade tensions that drove volatility for stocks last week were rebooting Monday, as investors confronted the prospect that a U.S.-China tariff deal could take longer than anticipated, if a pact occurs at all. Talks in Washington ended Friday without an agreement.
Which stocks are in focus?
Shares of several companies perceived as sensitive to rising U.S.-China trade tensions were under pressure before the start of trade Monday, including Apple Inc. AAPL, -5.12% semiconductor firm Advanced Micro Devices Inc. AMD, -5.08% and Intel Corp. INTC, -1.98%
In addition to China concerns, investors were also paying attention to a U.S. Supreme Court ruling that said Apple customers can proceed with an antitrust lawsuit challenging the company's exclusive control over the marketplace for iPhone apps.
Uber Inc. stock was still in the spotlight, after the ride-hailing firm made its debut on the New York Stock Exchange Friday. After pricing at $45 per share, Uber stock closed down 7.6% at 41.57. Shares remain under pressure Monday, down 9.7%.
Videogame publisher Take-Two Interactive Software Inc. TTWO, -3.08% and Tencent Holdings Ltd. TCEHY, -4.04% are both set to report earnings after the close on Monday.
What's on the economic calendar?
At 11 a.m. Eastern Time, the Federal Reserve will release its survey of consumer expectations.
see here:
Federal Reserve Bank of New York releases its monthly Consumer Expectations survey data
https://www.newyorkfed.org/microeconomics/sce
Fed Vice Chairman Richard Clarida gave a speech Monday morning on the central bank's ongoing review of its overall monetary policy strategy, saying "we expect to make our conclusions public in the first half of 2020."
Yeaaaa because that is timely-thank's FRB.
Federal Reserve Bank of Boston President Eric Rosengren also gave a speech at the bank's "Fed listens" conference Monday morning.
How are other assets trading?
10 year dropping yield dropping because equity's are not attractive- ya think?
Trade worries weighed on Asian markets, where the Shanghai Composite SHCOMP, -1.21% closed down 1.2% and other major indexes logged losses of 1% or more. Europe followed suit with the Stoxx Europe 600 SXXP, -1.12% down 1.2%.
The U.S. dollar DXY, -0.14% slid 0.2% relative to its peers, while gold GCM9, +0.92% rose 0.8%.
Oil prices CLM9, +0.83% were climbing after Saudi Arabia said two oil tankers were attacked near the Strait of Hormuz early Sunday.
https://www.marketwatch.com/story/dow-futures-drop-over-200-points-as-u-s-china-trade-talks-appear-stalled-2019-05-13
https://finance.yahoo.com/quote/%5EDJI?p=^DJI
https://www.marketwatch.com/investing/bond/tmubmusd10y?countrycode=bx
#4682512 at 2019-01-09 19:01:46 (UTC+1)
Q Research General #5975: #FlyRodFly Edition
Fed policymakers say can wait on further U.S. rate hikes
RIVERWOODS, Ill./CHATTANOOGA, Tenn. (Reuters) - U.S Federal Reserve policymakers can wait on any further interest rate hikes until they have a better handle on whether growing risks will undercut an otherwise solid U.S. economic outlook, several policymakers said on Wednesday. After months of tumult in the stock market and rising speculation over a coming recession, presidents of four of the 12 Fed regional banks said they wanted greater clarity on the state of the economy before extending the central bank's rate hike campaign any further.
Three of the four, Charles Evans of Chicago, Eric Rosengren of Boston, and James Bullard of St. Louis, are voting members this year on the Federal Open Market Committee, the bank's 10-member policy-setting panel. Bullard has long been critical of the Fed's rate increases, begun in December 2015, but the caution from Evans and Rosengren is new, even if they both believe growth will remain solid and rates will probably need to rise more. The fourth president, Raphael Bostic of Atlanta, said there was no urgency to raise rates further at this juncture. The remarks from the four come less than a week after Fed Chairman Jerome Powell eased market concerns that policy makers were ignoring signs of an economic slowdown. Powell said he was aware of the risks and would be patient and flexible in policy decisions this year.
Rosengren on Wednesday used those same two adjectives, while Evans said he would be "cautious." "I think they have certainly changed their tune," said Eric Stein, a portfolio manager for Eaton Vance who attended Rosengren's talk. "If financial conditions continue to ease from here (as they have to start the year) and growth stays strong, I think they will still look to hike, but for now a wait and see approach is prudent."
The new tone comes after the U.S. stock market dropped precipitously in the fourth quarter of 2018, suffering its worst December performance since the Great Depression. Other signs of tightening financial conditions surfaced as well, including a sharp slowdown in issuance of corporate bonds. Short-term U.S. interest-rate futures are now pricing in less than a 2 percent chance of a rate hike this year, and traders see a one-in-four chance of a rate cut by next January. That stands in stark contrast to forecasts from the Fed released after the central bank's fourth 2018 rate hike in December. Those forecasts called for two more rate hikes this year.
https://www.reuters.com/article/us-usa-fed/fed-policymakers-say-can-wait-on-further-u-s-rate-hikes-idUSKCN1P31SC?il=0
#4441283 at 2018-12-23 19:56:30 (UTC+1)
Q Research General #5662: "Chicken soup" for RBGEdition
Who is making FED decisions?
Federal Open Market Committee
2018 Committee Members
Jerome H. Powell, Board of Governors, Chairman
John C. Williams, New York, Vice Chairman
Thomas I. Barkin, Richmond
Raphael W. Bostic, Atlanta
Michelle W. Bowman, Board of Governors
Lael Brainard, Board of Governors
Richard H. Clarida, Board of Governors
Mary C. Daly, San Francisco
Loretta J. Mester, Cleveland
Randal K. Quarles, Board of Governors
Alternate Members
James Bullard, St. Louis
Charles L. Evans, Chicago
Esther L. George, Kansas City
Eric Rosengren, Boston
Michael Strine, First Vice President, New York
8kun Midnight Riders Posts (1)
#46667 at 2021-01-21 21:28:13 (UTC+1)
QR Midnight Riders #215: Notorious Midnight Riders Edition
Fed regional bank presidents given new 5-year terms
The presidents of the Federal Reserve's 12 regional banks, officials who oversee bank regulation and share duties setting monetary policy with the central bank's Washington-based Board of Governors, have been appointed to new five-year terms beginning March 1, the central bank announced on Thursday.
The reappointments, along with those of the sitting vice presidents, were recommended by the local boards of directors that oversee each regional bank and accepted by the board.
Fed presidents appointed before they turn 55 must retire by their 65th birthday, the central bank's rules stipulate. That means Boston Fed President Eric Rosengren can serve only until June 2022, and both Chicago Fed President Charles Evans and Kansas City Fed President Esther George can only serve until January 2023.
https://www.reuters.com/article/usa-fed-regionals/fed-regional-bank-presidents-given-new-5-year-terms-idUSL1N2JW2JT
8chan/8kun QRB Posts (23)
#143408 at 2022-07-21 15:07:25 (UTC+1)
QRB General #971: UK Anons Now On TS, Welcome Here Always Edition
Moar Dindu-he had enough Muni. Bonds to have 22 transactions is pretty damning (but 'legal') and "new rules"-this entire 'blind trust' shit with the wife is hilarious-she had no idea but sold his other shit at just the 'right time' in 2019 and 2020-rule should be NOTHING if you are the fuggen Chair of the Federal ReserveN-O-T-H-I-N-Gand if you won't then you can't be the FED Chair-simple as that
Powell Sells Muni Holdings as New Fed Ethics Rules Take Effect
Federal Reserve Chair Jerome Powell recently sold more than $1 million of municipal bonds issued by various entities across the US as tough new ethics rules took effect for central bank officials in the wake of a trading scandal last year.
The 22 separate transactions on June 30, with a total value ranging from about $1.2 million to $2.5 million, were detailed in a disclosure dated July 1 and published Thursday by the US Office of Government Ethics. Powell's sales came at the early end of the 12 months that Fed officials have to dispose of prohibited holdings under the new rules, which were adopted in February and went into effect on May 1. Powell introduced the measures to avoid a repeat of the ethics scandal that engulfed the Fed in 2021. Revelations emerged on the unusual trading activities of some senior officials the year before as the central bank took emergency action to shield the US economy from the spread of Covid-19. A Fed spokesperson said the central bank didn't immediately have a comment. The Fed's inspector general, Mark Bialek, announced last week that he had cleared Powell and former Vice Chair Richard Clarida's trading activity, saying they had not broken any rules, but a probe into the former heads of the Dallas and Boston regional Fed banks remained open.
Then-Boston Fed President Eric Rosengren and his Dallas counterpart, Robert Kaplan, stepped down last year after questions were raised about their trading activity during 2020. Rosengren cited ill health in announcing his early retirement.
https://www.bnnbloomberg.ca/powell-sells-muni-holdings-as-new-fed-ethics-rules-take-effect-1.1795128
#142778 at 2022-07-14 21:15:40 (UTC+1)
QRB General #966: RIP Ivana Trump Edition
Fed Finds Fed Did Nothing Wrong
In what is likely the least surprising news headline of the day, The Federal Reserve's Watchdog has cleared Chair Jerome Powell and former Vice Chair Richard Clarida of any wrongdoing in their trading activity.
"We did not find evidence to substantiate the allegations that former Vice Chair Clarida or you violated laws, rules, regulations, or policies related to trading activities as investigated by our office," Inspector General Mark Bialek said in a letter to Powell dated June 11 and published Thursday. Powell's wife knew nothing...
We found that your spouse, as trustee of the Powell family trust, notified the trust financial advisor of the need to make funds available for charitable donations each December during the time period we reviewed. On December 9, 2019, your spouse notified the financial advisor that the trust would be writing charitable donation checks and requested to be informed when the funds became available. The trust financial advisor had noted the blackout period on the financial advisory team's calendar prior to executing the trades, but executed the five trades on December 11, 2019. The trust financial advisor subsequently acknowledged that executing the trades during the blackout period was an "oversight" on the team's part. We found no evidence that you or your spouse had contemporaneous knowledge that the five transactions were executed during the blackout period. As such, we found that you did not violate the FOMC trading blackout rule.
Former Boston Fed President Eric Rosengren and former Dallas Fed President Robert Kaplan are still under investigation..
https://www.zerohedge.com/markets/fed-finds-fed-did-nothing-wrong
Kaplan and Rosengren....:I still "under investigation" they won't do nuffin either and Kaplan's example is the worst-he din't even try to hide it
#119929 at 2022-01-10 21:44:35 (UTC+1)
QRB General #814: We Shall Defend Our REPUBLIC!! Edition
Fed Vice Chair Clarida to step down early following scrutiny over his trades during pandemic
Federal Reserve Vice Chairman Richard Clarida said Monday he will be leaving his post with just a few weeks left on his term and amid revelations regarding his trading of stock funds.
In an announcement released Monday afternoon, Clarida said he will be stepping down from his post this Friday. His term expires on Jan. 31.
The move comes following additional disclosures regarding trades Clarida made in February 2020, around the time when the Fed was getting ready to roll out what eventually would become its most aggressive policy tools ever, in an effort to combat the Covid crisis.
"Rich's contributions to our monetary policy deliberations, and his leadership of the Fed's first-ever public review of our monetary policy framework, will leave a lasting impact in the field of central banking," Fed Chairman Jerome H. Powell said in a statement. "I will miss his wise counsel and vital insights."
Clarida's exit comes amid heightened scrutiny over what he had described as pre-planned portfolio rebalancing on Feb. 27, 2020. However, recent disclosures, first reported by the New York Times, showed that three days earlier, Clarida sold shares in three stock funds that he would repurchase on the 27th.
Markets dropped on Feb. 24 amid worries that the spreading coronavirus could cause substantial economic damage. On Feb. 26, Fed policymakers huddled to discuss what policy moves they might take to combat what eventually would become a full-blown pandemic.
Within weeks, the Fed would cut its benchmark interest rate to zero and institute an unprecedented array of lending and liquidity programs to help the economy and financial markets function.
Clarida's announcement did not mention anything about the controversy, which has been a focal point of Fed criticism from Sen. Elizabeth Warren (D-Massachusetts) and some other lawmakers. Two regional Fed presidents, Eric Rosengren of Boston and Robert Kaplan of Dallas, both resigned following questions over their trading activities.
https://www.cnbc.com/2022/01/10/fed-vice-chair-clarida-to-step-down-early-following-scrutiny-over-his-trades-during-pandemic.html
#102543 at 2021-10-20 19:36:29 (UTC+1)
QRB General #668: Bringing The Villains To Heel Edition
>>95948 pb Boston Fed President Eric Rosengren To Retire After Ethics Issue
>>100579 pb Boston Fed launches search for new president, hires exec. talent firm
Boston Fed will not release documents on its former president's trades
The Boston Federal Reserve will not release documents that could show whether its former president vetted a series of personal investments last year with its ethics officer, a spokesman for the regional Fed bank said, a key point in an ongoing ethics controversy at the U.S. central bank.
Eric Rosengren, along with Dallas Fed President Robert Kaplan, stepped down after details of their trading activities in 2020 were reported in the media last month, raising questions about whether Fed rules on policymakers' financial investments are strict enough given their market-sensitive roles.
Their investing activities and those of other top Fed officials including Chair Jerome Powell, in a year when the central bank delivered an unprecedented response to the economic threat posed by the coronavirus pandemic, have erupted into a full-blown controversy that may weigh on whether Powell is reappointed as Fed chief. In a statement issued shortly after the initial reports, Rosengren said he would sell the securities in question, including shares in real estate investment trusts, the value of which could be influenced by Fed policy decisions. Rosengren also said the investments "were permissible under Fed ethics rules for asset types and timeframes for transactions." Responding to a Reuters request for any documents from the Boston Fed's general counsel or ethics officer underlying that comment, a spokesman for the regional bank emailed a statement on Tuesday that deferred to a broad review of Fed ethics rules launched by Powell last month. "We will not be able to provide internal communications of that nature," the statement said. "The Chair has called for reviews of the ethics rules and frameworks. We welcome them, and will cooperate fully - and won't publicly address specifics so as to see those reviews proceed fully, without prejudgment or distraction."
Reuters has requested similar documents from the Dallas Fed as well as the Fed's Board of Governors - the panel of officials who oversee the entire U.S. central bank system. A Dallas Fed spokesman said the request had been forwarded to the regional bank's general counsel. There has been no response yet on the request filed to the Fed's Board of Governors under the federal Freedom of Information Act. The 12 regional Fed banks are quasi-private entities not governed by the Freedom of Information Act, and can be selective about the documents they make public. Republican U.S. Senator Steve Daines pointedly questioned Powell about this issue at a recent congressional hearing. Other prominent lawmakers, including Senate Banking Committee Chair Sherrod Brown, a Democrat, plan to introduce legislation restricting Fed officials' ownership of shares of individual companies. Democratic Senator Elizabeth Warren has asked for securities regulators to investigate the transactions and demanded an ethics overhaul at the Fed's regional banks. In a Sept. 20 letter to Warren, St. Louis Fed President James Bullard, writing on behalf of all the Fed regional banks, said they would abide by whatever new guidance emerges from Powell's review.
https://www.reuters.com/article/usa-fed-ethics/boston-fed-will-not-release-documents-on-its-former-presidents-trades-idUSL1N2RG19C
#101931 at 2021-10-18 15:04:53 (UTC+1)
QRB General #663: Aluminum Based Life Form????? Edition
JUST IN - Chair of the U.S. Federal Reserve, Jerome Powell, reportedly sold up to $5 million worth of stock right before the stock market suffered a significant drop
https://twitter.com/disclosetv/status/1450109722737233921
Jerome Powell Sold More Than a Million Dollars of Stock as the Market Was Tanking
Federal Reserve Chairman Jerome Powell sold between $1 million and $5 million worth of stock from his personal account on October 1, 2020, according to disclosure forms reviewed by the Prospect. Powell's sale of shares from a Vanguard Total Stock Market Index Fund has not been previously reported. This sale occurred right before the Dow Jones Industrial Average suffered a significant drop.
A Fed media relations spokesperson was not available for comment. We will report on any Fed statement on Powell's trades.
Three other senior Fed officials have faced serious criticism for making stock trades during the pandemic. Dallas Fed President Robert Kaplan and Boston Fed President Eric Rosengren were compelled to take early retirements as a result of the disclosure of their trades. Fed Vice Chair Richard Clarida also came under fire for stock trading. The other trades are now the subject of investigations by the Fed's own inspector general and the SEC.
There is no AmErican with more insider knowledge about government policy that drives financial market movements than the chair of the Federal Reserve. And as COVID caseloads, hospitalizations, and deaths spiked last fall, the economy was in a precarious condition. October turned out to be the stock market's worst month since March 2020, when the pandemic began.
The Dow would lose 1,600 points in October, or 6 percent of its value. (It would recoup those losses and then some in subsequent months.)
https://prospect.org/economy/powell-sold-more-than-million-dollars-of-stock-as-market-was-tanking/
#97867 at 2021-10-02 15:49:24 (UTC+1)
QRB General #631: Best Thank You Ever Edition
Clarida Traded Into Stocks on Eve of Powell Pandemic Statement
Federal Reserve Vice Chair Richard Clarida traded between $1 million and $5 million out of a bond fund into stock funds one day before Chair Jerome Powell issued a statement flagging possible policy action as the pandemic worsened, his 2020 financial disclosures show.
Clarida's trades, described in forms filed with the government ethics office, show the shifting of the funds out of a Pimco bond fund on Feb. 27, 2020, and on the same day buying the Pimco StocksPlus Fund and the iShares MSCI USA Min Vol Factor exchange-traded fund in similar dollar ranges. For the year, he listed five transactions. The following day on Feb. 28, a Friday, at 2:30 p.m., Powell took the unusual step of releasing a statement saying the virus poses "evolving risks to economic activity." In the same statement, Powell said the Fed was "closely monitoring developments and their implications for the economic outlook."
The Fed announced a half percentage-point rate cut on March 3 following an emergency meeting of the Federal Open Market Committee. "Vice Chair Clarida's financial disclosure for 2020 shows transactions that represent a pre-planned rebalancing to his accounts," a Fed spokesman who was speaking on behalf of the vice chair said. "The transactions were executed prior to his involvement in deliberations on Federal Reserve actions to respond to the emergence of the coronavirus and not during a blackout period. The selected funds were chosen with the prior approval of the Board's ethics official."
The transactions are likely to further heighten scrutiny of the ethics rules and governance of the U.S. central bank after two regional Fed chiefs announced their departures following revelations about their trading activity last year. One of the presidents, Eric Rosengren of Boston, said his resignation was due to a serious health condition.
Clarida, a former executive at Pacific Investment Management Company LLC, was visiting faculty and students at Yale University in New Haven, Connecticut, the day of the trading, and not in his office in Washington. His calendar for the month shows a single phone call with a Board member on Feb. 27 at 4:45 p.m. after the market close, as well as numerous meetings with Fed staff on prior days. The Fed spells out clear guidelines for trading activity by policy makers. Its Voluntary Guide to Conduct for Senior Officials says "they should carefully avoid engaging in any financial transaction the timing of which could create the appearance of acting on inside information concerning Federal Reserve deliberations and actions."
It also says that they should avoid dealings that might "convey even an appearance of conflict between their personal interests, the interests of the system, and the public interest." February 2020 was a time of extreme moves in financial markets as investors reacted to the threat of the global spread of Covid-19. Stocks fell steeply and bond markets were in a powerful rally.
"The pandemic was spreading quickly and the economic outlook was evolving rapidly. That was not the appropriate time for top Fed officials to be making multi-million dollar changes to their portfolios," said Andrew Levin, a Dartmouth College professor and former special advisor to the Fed's Board. "The Fed should welcome an external review of all financial transactions made by Federal Reserve Board members last year."
https://www.bnnbloomberg.ca/clarida-traded-into-stocks-on-eve-of-powell-pandemic-statement-1.1660616
#96382 at 2021-09-28 18:42:55 (UTC+1)
QRB General #621: So What's Goin' On with DiFi? Edition
>>96108 pb Rob Kaplan to retire as Dallas Fed president after controversy over financial disclosures
Goldman Sachs Refuses to Say If It Was Placing Trades for Dallas Fed President Kaplan as Materially False Statement Released by Board on Kaplan's Relationship with Goldman Sachs
The biggest trading scandal in the Federal Reserve's 108-year history took down two Federal Reserve Bank Presidents yesterday. Boston Fed President Eric Rosengren, who traded in and out of REITs last year in amounts of $1,000 to $50,000, will leave this Thursday; Dallas Fed President Robert Kaplan, whose trading made Rosengren look like a Boy Scout, will step down from his post at the end of next week. Kaplan was making repeated trades of "over $1 million" in S&P 500 futures (an instrument used during and after stock exchange hours by hedge funds) as well as making "over $1 million" trades in a litany of individual stocks.
Just as a poker player can give away his hand with a tell, financial disclosure statements can also provide a tell as to the name of the Wall Street firm that is placing the trades.
Dallas Fed President Robert Kaplan has a "tell" on his financial disclosure forms that suggests he was placing at least some of his trades at the Wall Street firm where he worked for 22 years, Goldman Sachs, the global trading behemoth. Most trading accounts at the major firms have what is called a "sweep account." When a trader sells a stock, instead of the proceeds sitting in cash without earning interest, the proceeds are "swept" into a designated money market fund. The only money market fund that Kaplan indicates he owns is listed as the "GS Financial Square Money Market Fund" on his financial disclosure form. GS stands for...wait for it...Goldman Sachs. The Goldman Sachs Financial Square Money Market Fund was not listed on Kaplan's financial disclosure form for calendar year 2015, the year he joined the Dallas Fed. But it was listed on his financial disclosure forms for years 2016 through 2020.
We have now reached out via email, over multiple days, to a total of five of Goldman Sachs' media relations staff, including a Managing Director and Head of Media Relations, inquiring as follows: "Wall Street On Parade has significant reasons to believe that Dallas Fed President, Robert Kaplan, was conducting at least some of his trades that have been in the news recently through an account at Goldman Sachs. "(1) Can you tell me if Kaplan was trading his numerous 'over $1 million' S&P 500 futures trades through Goldman Sachs or (2) his 'over $1 million' individual stock trades at Goldman Sachs; or (3) if he was conducting both S&P 500 futures and individual stock trades at Goldman Sachs." We heard dead silence from all five media relations folks. In the second email we reminded Goldman Sachs of the following: "As you may know, Goldman Sachs remains under a Deferred Prosecution agreement for a criminal charge with the Department of Justice and an ongoing 3-year probation period. Given the serious issues we raise in an article today around the failed compliance obligations of the brokerage firm that conducted these trades for Kaplan, we would expect that Goldman Sachs would want to get it on the public record quickly if it did not conduct these trades for Kaplan." Again, all we heard was dead silence from Goldman Sachs.
Can we conclusively say that Kaplan was making his trades with the firm where he spent the bulk of his career, no we can't. But we can conclusively state that two members of the Dallas Fed Board of Directors, speaking on behalf of the entire Board, released a materially false statement yesterday regarding Kaplan's relationship with Goldman Sachs. The statement released yesterday by Greg Armstrong, Chair of the Board of Directors of the Dallas Fed, and Thomas Falk, Deputy Chair "on behalf of and with the unanimous endorsement of" the entire Board, included these two sentences: "Upon joining the Bank, Rob systematically sold all of his personal holdings related to financial institutions over which the Federal Reserve had regulatory oversight or were otherwise restricted. Rob also conducted his investment activities in accordance with the rules and policies of the Federal Reserve System." The first sentence is materially false. Kaplan held a position offered by Goldman Sachs, a "financial institution over which the Federal Reserve had regulatory oversight" at the time of his first financial disclosure at the Dallas Fed in 2015. He held multiple positions offered by Goldman Sachs after joining the Dallas Fed. The second sentence is spurious; Kaplan violated at least two of the prohibitions in the Dallas Fed Code of Conduct.
1 of 2
#96279 at 2021-09-28 06:27:45 (UTC+1)
QRB General #621: So What's Goin' On with DiFi? Edition
Globals
HELP WANTED: learn how to bake today! Ask any baker
Endchan site has 3 possible extensions: .net, .org, .gg New PSA
>>92136 Copy POSTS w/IMAGES you want to access after 24 hours on endchan.net/qrbunker. NOT Gerbil's board. NEW
>>82749 Guidelines on CP, what to report in addition to illegal images
>>95970 New version of QResear.ch
Notables
are not endorsements
#620
>>96195, >>96202, >>96210, >>96215, >>96216 Anons discuss DiFi & Daniel Jones
>>96196, >>96267, >>96201, >>96220, >>96224 Lt. Col. Stuart Scheller is currently in the brig, his father told Task & Purpose
>>96200 HNA restructuring moves ahead with $5.7bn airline funding
>>96203, >>96218 Sonny Borrelli: SoS has the evidence, hope for investigations now
>>96204 DJT's spokesperson Liz Harrington on audit: election never should have been certified
>>96205 Patrick Byrne on Arizona election
>>96206 Mike Pompeo Speech at Hillsdale College
>>96207 Project Veritas' Eric Spracklen has just been LOCKED OUT of his Twitter account
>>96209, >>96221 US Treasury Dept: David Ryder resigns as Mint Director; Alison Doone is new acting director
>>96212 Money laundering: Swiss banks in the crosshairs
>>96228 Grassely: corn comes after soybeans....
>>96230, >>96232 Anons on Rupert Sheldrake view of science
>>96244, >>96246 Daniel Jones & The Democracy Integrity Project (TDIP)
>>96251 Sidney Powell on Repubs asking AG why charges were dropped against Chinese spies
>>96265 Request for feedback from Resignation Anon on new qresear.ch
>>96275 NEWFLASH: Joe Biden resides on a planet with two suns!
>>96276 #620
#619
>>96116, >>96126, >>96131, >>96136, >>96139, >>96171 Monday Eyez to the skyz
>>96175 NOT MAKING HEADLINES: AZ Audit Could Not Find the Identity of 86,391 Voters - They Don't Appear to Exist
>>96174 Dog the Bounty Hunter 'has found fresh campsite that could be linked to Brian Laundrie and his PARENTS'
>>96164, >>96165, >>96166, >>96169, >>96176 "In one side and out the other" 911 CGI
>>96149, >>96150, >>96151 45 on Border, Haitian refugees and GOP playin their cards to stop DNC legislation
>>96148 Computer Programmer Testifies He Was Hired To Rig Elections
>>96147 Senate Republicans block a bill that would prevent a government shutdown and a default of U.S. debt.
>>96146 New York Medical Providers Begin Shutting Down Services as Vaccine Deadline Hits and Unvaccinated Workers Terminated
>>96144 50 Cent where he announced that he is now a Trump supporter and that he's making an exodus from New York City to Texas.
>>96143 Pattern Identified in Arizona Audit Mirrors Michigan Scandal Revealed in DetroitLeaks Tapes on Provisional Ballots
>>96141, >>96142, >>96158 AZ State Senator Townsend Files S.B. 1487 Against Maricopa County, Unanswered Questions From July Hearing, Audit Report
>>96137 D's pledge not to raise "1 penny" of taxes on ppl earning under $400K. Don't believe it Non-partisan
>>96134 North Korea fires what appears to be ballistic missile: Japan
>>96132 Mainstream Media's Massive Government Payoff
>>96129 3D-Printed Vaccine Patch Now in Development - Needles No Longer Needed
>>96113 Antifa member charged with shooting anti-vaxxer in Washington
>>96109, >>96110, >>96112, >>96118 California Makes Vote-by-Mail Permanent
>>96108 Rob Kaplan to retire as Dallas Fed president after controversy over financial disclosures
>>96104 New York Governor May Call in National Guard to Cover for Fired, Unvaccinated Health Workers
>>96092, >>96096, >>96130 Sparitcus pdf
>>96087, >>96090 R. Kelly was found guilty of being the ringleader of a decades-long scheme to recruit women and underage girls for sex
>>96081 Belarus Leader Accuses NATO of Building Bases During Annual Drill in Ukraine
>>96080 Desantis letter on facebook election interferrence investigation
>>96075, >>96082, >>96163 NCF Dr Rima Laibow
>>96070 These Countries Have an Internet Kill Switch ... And They Admit It
>>96069 Macron near miss with egg
>>96067 Hoyer + 63 House Dems send McConnell a letter telling him to "do the right thing, the necessary thing, to avert a manufactured crisis" by raising the debt ceiling.
>>96060 Solid 5Y Auction Stops Through After Ugly, Tailing 2Y Sale Earlier
>>96054 VAERS
>>96177 #619
#618
>>95942, >>95954, >>95972, >>95980, >>96023, >>96028 Munday eyez on the skyz
>>96042 Wells Fargo Tumbles After DoJ Lawsuit Over Fraudulent FX Services
>>96040 Watch live as NASA launches a new eye on Earth satellite aboard an Atlas 5 rocket
>>96039 This year marks the centennial of the creation of the Tomb of the Unknown Soldier at Arlington National Cemetery.
>>96036 ECW: Was the release of Huawei exec Meng Wanzhou a strategic error?
>>96035 NCF Dr Rima Laibow Codex Alimentarius and the Nazi Agenda 21 depoulation plan
>>96034, >>96041 Taliban/Burisma/Pipeline/no UN recognition/Ukraine
>>96022 Biden Admin Loses DACA Appeal In Texas... So They're Just Making A New Rule
>>96014, >>96018, >>96024 @RichardGrenell German elections require voters to have identification and they don't use machines to count votes.
>>95997, >>95999, >>96007, >>96017 XIAOMI, HUAWEI, POWERBRIDGE
>>95995 Symbolic environments of STAR WARS (film analysis)
>>95992, >>95993, >>96025, >>96026 Buyden getting booster live
>>95982 Gruesome 2-Year Auction As Markets Start To Freak Out About Tigher Fed
>>95981, >>95983, >>95986, >>96037 "Damn You To Hell, You Will Not Destroy AmErica" - Here Is The 'Spartacus COVID Letter' That's Gone Viral
>>95970 qresear.ch better czech it out
>>95966 When you're out and about at your usual Trump rally, it can be hard to tell the feds apart from the regular, down-to-earth QAnon people.
>>95963 Japan to lift COVID emergency on Thursday
>>95951, >>95994, >>95997, >>95999, >>96007 shutdown as soon as Oct 1./10 days of darkness?/Red October Global Economic Crash/Crypto Holdings Ltd
>>95950 West Coast Port Congestion Doesn't Show Any Signs of Letting Up
>>95949 Judge Joe Brown Drops Bombshells About Obama's Past
>>95948 Boston Fed President Eric Rosengren To Retire After Ethics Issue
>>95942, >>96005 Where was Joe yesterday, hmmmmm..............?
>>95935, >>95937, >>95938 Millions of iPhones, TVs and other devices could go offline next week - here's why [updated]
>>95927, >>95928, >>95929, >>96013, >>96020 gluten, celiac diesease, quality of the wheat?
>>95921 Here's a list of every single one of the 135 GOP members of Congress who just voted to disarm AmEricans with unconstitutional Red Flag laws
>>95914, >>95919 AZ hanging in the balance
>>95904, >>95906 Jacinda Ardern's vaxx FB disaster
>>95903 The Zulu Come Out In Force Against Mandatory Vaccinations In South Africa
>>95876 Slovakia is first nation to approve IVM in Jan 2021 - here are the results at the end of Sept
>>96044 #618
Previously Collected Notables:
>>95223 #613, >>95417 #614, >>95497 #615, >>95713 #616, >>95862 #617
>>94543 #607, >>94665 #608, >>94794 #609, >>94894 #610, >>95011 #611, >>95140 #612
>>93714 #601, >>93836 #602, >>93972 #603, >>94151 #604, >>94316 #605, >>94419 #606
QRB notables archived here >>>/qrb/9528
Notables aggregator https://wearethene.ws
Notables aggregator https://qnotables.com
#96279 at 2021-09-28 06:27:45 (UTC+1)
QRB General #621: So What's Goin' On with DiFi? Edition
Globals
HELP WANTED: learn how to bake today! Ask any baker
Endchan site has 3 possible extensions: .net, .org, .gg New PSA
>>92136 Copy POSTS w/IMAGES you want to access after 24 hours on endchan.net/qrbunker. NOT Gerbil's board. NEW
>>82749 Guidelines on CP, what to report in addition to illegal images
>>95970 New version of QResear.ch
Notables
are not endorsements
#620
>>96195, >>96202, >>96210, >>96215, >>96216 Anons discuss DiFi & Daniel Jones
>>96196, >>96267, >>96201, >>96220, >>96224 Lt. Col. Stuart Scheller is currently in the brig, his father told Task & Purpose
>>96200 HNA restructuring moves ahead with $5.7bn airline funding
>>96203, >>96218 Sonny Borrelli: SoS has the evidence, hope for investigations now
>>96204 DJT's spokesperson Liz Harrington on audit: election never should have been certified
>>96205 Patrick Byrne on Arizona election
>>96206 Mike Pompeo Speech at Hillsdale College
>>96207 Project Veritas' Eric Spracklen has just been LOCKED OUT of his Twitter account
>>96209, >>96221 US Treasury Dept: David Ryder resigns as Mint Director; Alison Doone is new acting director
>>96212 Money laundering: Swiss banks in the crosshairs
>>96228 Grassely: corn comes after soybeans....
>>96230, >>96232 Anons on Rupert Sheldrake view of science
>>96244, >>96246 Daniel Jones & The Democracy Integrity Project (TDIP)
>>96251 Sidney Powell on Repubs asking AG why charges were dropped against Chinese spies
>>96265 Request for feedback from Resignation Anon on new qresear.ch
>>96275 NEWFLASH: Joe Biden resides on a planet with two suns!
>>96276 #620
#619
>>96116, >>96126, >>96131, >>96136, >>96139, >>96171 Monday Eyez to the skyz
>>96175 NOT MAKING HEADLINES: AZ Audit Could Not Find the Identity of 86,391 Voters - They Don't Appear to Exist
>>96174 Dog the Bounty Hunter 'has found fresh campsite that could be linked to Brian Laundrie and his PARENTS'
>>96164, >>96165, >>96166, >>96169, >>96176 "In one side and out the other" 911 CGI
>>96149, >>96150, >>96151 45 on Border, Haitian refugees and GOP playin their cards to stop DNC legislation
>>96148 Computer Programmer Testifies He Was Hired To Rig Elections
>>96147 Senate Republicans block a bill that would prevent a government shutdown and a default of U.S. debt.
>>96146 New York Medical Providers Begin Shutting Down Services as Vaccine Deadline Hits and Unvaccinated Workers Terminated
>>96144 50 Cent where he announced that he is now a Trump supporter and that he's making an exodus from New York City to Texas.
>>96143 Pattern Identified in Arizona Audit Mirrors Michigan Scandal Revealed in DetroitLeaks Tapes on Provisional Ballots
>>96141, >>96142, >>96158 AZ State Senator Townsend Files S.B. 1487 Against Maricopa County, Unanswered Questions From July Hearing, Audit Report
>>96137 D's pledge not to raise "1 penny" of taxes on ppl earning under $400K. Don't believe it Non-partisan
>>96134 North Korea fires what appears to be ballistic missile: Japan
>>96132 Mainstream Media's Massive Government Payoff
>>96129 3D-Printed Vaccine Patch Now in Development - Needles No Longer Needed
>>96113 Antifa member charged with shooting anti-vaxxer in Washington
>>96109, >>96110, >>96112, >>96118 California Makes Vote-by-Mail Permanent
>>96108 Rob Kaplan to retire as Dallas Fed president after controversy over financial disclosures
>>96104 New York Governor May Call in National Guard to Cover for Fired, Unvaccinated Health Workers
>>96092, >>96096, >>96130 Sparitcus pdf
>>96087, >>96090 R. Kelly was found guilty of being the ringleader of a decades-long scheme to recruit women and underage girls for sex
>>96081 Belarus Leader Accuses NATO of Building Bases During Annual Drill in Ukraine
>>96080 Desantis letter on facebook election interferrence investigation
>>96075, >>96082, >>96163 NCF Dr Rima Laibow
>>96070 These Countries Have an Internet Kill Switch ... And They Admit It
>>96069 Macron near miss with egg
>>96067 Hoyer + 63 House Dems send McConnell a letter telling him to "do the right thing, the necessary thing, to avert a manufactured crisis" by raising the debt ceiling.
>>96060 Solid 5Y Auction Stops Through After Ugly, Tailing 2Y Sale Earlier
>>96054 VAERS
>>96177 #619
#618
>>95942, >>95954, >>95972, >>95980, >>96023, >>96028 Munday eyez on the skyz
>>96042 Wells Fargo Tumbles After DoJ Lawsuit Over Fraudulent FX Services
>>96040 Watch live as NASA launches a new eye on Earth satellite aboard an Atlas 5 rocket
>>96039 This year marks the centennial of the creation of the Tomb of the Unknown Soldier at Arlington National Cemetery.
>>96036 ECW: Was the release of Huawei exec Meng Wanzhou a strategic error?
>>96035 NCF Dr Rima Laibow Codex Alimentarius and the Nazi Agenda 21 depoulation plan
>>96034, >>96041 Taliban/Burisma/Pipeline/no UN recognition/Ukraine
>>96022 Biden Admin Loses DACA Appeal In Texas... So They're Just Making A New Rule
>>96014, >>96018, >>96024 @RichardGrenell German elections require voters to have identification and they don't use machines to count votes.
>>95997, >>95999, >>96007, >>96017 XIAOMI, HUAWEI, POWERBRIDGE
>>95995 Symbolic environments of STAR WARS (film analysis)
>>95992, >>95993, >>96025, >>96026 Buyden getting booster live
>>95982 Gruesome 2-Year Auction As Markets Start To Freak Out About Tigher Fed
>>95981, >>95983, >>95986, >>96037 "Damn You To Hell, You Will Not Destroy AmErica" - Here Is The 'Spartacus COVID Letter' That's Gone Viral
>>95970 qresear.ch better czech it out
>>95966 When you're out and about at your usual Trump rally, it can be hard to tell the feds apart from the regular, down-to-earth QAnon people.
>>95963 Japan to lift COVID emergency on Thursday
>>95951, >>95994, >>95997, >>95999, >>96007 shutdown as soon as Oct 1./10 days of darkness?/Red October Global Economic Crash/Crypto Holdings Ltd
>>95950 West Coast Port Congestion Doesn't Show Any Signs of Letting Up
>>95949 Judge Joe Brown Drops Bombshells About Obama's Past
>>95948 Boston Fed President Eric Rosengren To Retire After Ethics Issue
>>95942, >>96005 Where was Joe yesterday, hmmmmm..............?
>>95935, >>95937, >>95938 Millions of iPhones, TVs and other devices could go offline next week - here's why [updated]
>>95927, >>95928, >>95929, >>96013, >>96020 gluten, celiac diesease, quality of the wheat?
>>95921 Here's a list of every single one of the 135 GOP members of Congress who just voted to disarm AmEricans with unconstitutional Red Flag laws
>>95914, >>95919 AZ hanging in the balance
>>95904, >>95906 Jacinda Ardern's vaxx FB disaster
>>95903 The Zulu Come Out In Force Against Mandatory Vaccinations In South Africa
>>95876 Slovakia is first nation to approve IVM in Jan 2021 - here are the results at the end of Sept
>>96044 #618
Previously Collected Notables:
>>95223 #613, >>95417 #614, >>95497 #615, >>95713 #616, >>95862 #617
>>94543 #607, >>94665 #608, >>94794 #609, >>94894 #610, >>95011 #611, >>95140 #612
>>93714 #601, >>93836 #602, >>93972 #603, >>94151 #604, >>94316 #605, >>94419 #606
QRB notables archived here >>>/qrb/9528
Notables aggregator https://wearethene.ws
Notables aggregator https://qnotables.com
#96182 at 2021-09-28 01:38:46 (UTC+1)
QRB General #620: Night Train of Pain Rollin Edition
Globals
HELP WANTED: learn how to bake today! Ask any baker
Endchan site has 3 possible extensions: .net, .org, .gg New PSA
>>92136 Copy POSTS w/IMAGES you want to access after 24 hours on endchan.net/qrbunker. NOT Gerbil's board. NEW
>>82749 Guidelines on CP, what to report in addition to illegal images
>>95970 New version of QResear.ch
Notables
are not endorsements
#619
>>96116, >>96126, >>96131, >>96136, >>96139, >>96171 Monday Eyez to the skyz
>>96175 NOT MAKING HEADLINES: AZ Audit Could Not Find the Identity of 86,391 Voters - They Don't Appear to Exist
>>96174 Dog the Bounty Hunter 'has found fresh campsite that could be linked to Brian Laundrie and his PARENTS'
>>96164, >>96165, >>96166, >>96169, >>96176 "In one side and out the other" 911 CGI
>>96149, >>96150, >>96151 45 on Border, Haitian refugees and GOP playin their cards to stop DNC legislation
>>96148 Computer Programmer Testifies He Was Hired To Rig Elections
>>96147 Senate Republicans block a bill that would prevent a government shutdown and a default of U.S. debt.
>>96146 New York Medical Providers Begin Shutting Down Services as Vaccine Deadline Hits and Unvaccinated Workers Terminated
>>96144 50 Cent where he announced that he is now a Trump supporter and that he's making an exodus from New York City to Texas.
>>96143 Pattern Identified in Arizona Audit Mirrors Michigan Scandal Revealed in DetroitLeaks Tapes on Provisional Ballots
>>96141, >>96142, >>96158 AZ State Senator Townsend Files S.B. 1487 Against Maricopa County, Unanswered Questions From July Hearing, Audit Report
>>96137 D's pledge not to raise "1 penny" of taxes on ppl earning under $400K. Don't believe it Non-partisan
>>96134 North Korea fires what appears to be ballistic missile: Japan
>>96132 Mainstream Media's Massive Government Payoff
>>96129 3D-Printed Vaccine Patch Now in Development - Needles No Longer Needed
>>96113 Antifa member charged with shooting anti-vaxxer in Washington
>>96109, >>96110, >>96112, >>96118 California Makes Vote-by-Mail Permanent
>>96108 Rob Kaplan to retire as Dallas Fed president after controversy over financial disclosures
>>96104 New York Governor May Call in National Guard to Cover for Fired, Unvaccinated Health Workers
>>96092, >>96096, >>96130 Sparitcus pdf
>>96087, >>96090 R. Kelly was found guilty of being the ringleader of a decades-long scheme to recruit women and underage girls for sex
>>96081 Belarus Leader Accuses NATO of Building Bases During Annual Drill in Ukraine
>>96080 Desantis letter on facebook election interferrence investigation
>>96075, >>96082, >>96163 NCF Dr Rima Laibow
>>96070 These Countries Have an Internet Kill Switch ... And They Admit It
>>96069 Macron near miss with egg
>>96067 Hoyer + 63 House Dems send McConnell a letter telling him to "do the right thing, the necessary thing, to avert a manufactured crisis" by raising the debt ceiling.
>>96060 Solid 5Y Auction Stops Through After Ugly, Tailing 2Y Sale Earlier
>>96054 VAERS
>>96177 #619
#618
>>95942, >>95954, >>95972, >>95980, >>96023, >>96028 Munday eyez on the skyz
>>96042 Wells Fargo Tumbles After DoJ Lawsuit Over Fraudulent FX Services
>>96040 Watch live as NASA launches a new eye on Earth satellite aboard an Atlas 5 rocket
>>96039 This year marks the centennial of the creation of the Tomb of the Unknown Soldier at Arlington National Cemetery.
>>96036 ECW: Was the release of Huawei exec Meng Wanzhou a strategic error?
>>96035 NCF Dr Rima Laibow Codex Alimentarius and the Nazi Agenda 21 depoulation plan
>>96034, >>96041 Taliban/Burisma/Pipeline/no UN recognition/Ukraine
>>96022 Biden Admin Loses DACA Appeal In Texas... So They're Just Making A New Rule
>>96014, >>96018, >>96024 @RichardGrenell German elections require voters to have identification and they don't use machines to count votes.
>>95997, >>95999, >>96007, >>96017 XIAOMI, HUAWEI, POWERBRIDGE
>>95995 Symbolic environments of STAR WARS (film analysis)
>>95992, >>95993, >>96025, >>96026 Buyden getting booster live
>>95982 Gruesome 2-Year Auction As Markets Start To Freak Out About Tigher Fed
>>95981, >>95983, >>95986, >>96037 "Damn You To Hell, You Will Not Destroy AmErica" - Here Is The 'Spartacus COVID Letter' That's Gone Viral
>>95970 qresear.ch better czech it out
>>95966 When you're out and about at your usual Trump rally, it can be hard to tell the feds apart from the regular, down-to-earth QAnon people.
>>95963 Japan to lift COVID emergency on Thursday
>>95951, >>95994, >>95997, >>95999, >>96007 shutdown as soon as Oct 1./10 days of darkness?/Red October Global Economic Crash/Crypto Holdings Ltd
>>95950 West Coast Port Congestion Doesn't Show Any Signs of Letting Up
>>95949 Judge Joe Brown Drops Bombshells About Obama's Past
>>95948 Boston Fed President Eric Rosengren To Retire After Ethics Issue
>>95942, >>96005 Where was Joe yesterday, hmmmmm..............?
>>95935, >>95937, >>95938 Millions of iPhones, TVs and other devices could go offline next week - here's why [updated]
>>95927, >>95928, >>95929, >>96013, >>96020 gluten, celiac diesease, quality of the wheat?
>>95921 Here's a list of every single one of the 135 GOP members of Congress who just voted to disarm AmEricans with unconstitutional Red Flag laws
>>95914, >>95919 AZ hanging in the balance
>>95904, >>95906 Jacinda Ardern's vaxx FB disaster
>>95903 The Zulu Come Out In Force Against Mandatory Vaccinations In South Africa
>>95876 Slovakia is first nation to approve IVM in Jan 2021 - here are the results at the end of Sept
>>96044 #618
#617
>>95756, >>95757, >>95763, >>95776, >>95783, >>95784, >>95787, >>95837 Sunday planefaggin
>>95853 "they are growing"
>>95849 filament nonorganic
>>95814 Neil Oliver: The 'New World Order' Is on Verge of Collapse - 'Strongest Smell of Fear Coming From the Elite, Hold the Line'
>>95811 Rock solid vaccine exemption.
>>95808 these are the republicans that voted yes on red flag confiscation of your guns
>>95802 POTUS, "117 you may be right!"
>>95801 parasites?
>>95800, >>95824, >>95817 AIDS is casued by the CHAGAS parasite?
>>95798 In 1914, the U.S. unilaterally seized the entirety of Haiti's gold reserves/next year, it invaded Haiti and occupied it for 20 years.
>>95793, >>95794 AZ logs deleted
>>95792, >>95807 Maria Bartiromo Brings Up Creepy John Podesta Today Noting the Clintons Had More to Do with Russia than the Trumps Ever Did
>>95786, >>95841 Ardern trying to get ahead of the "side effects" buzz.....
>>95779, >>95780, >>95781 Abnormal blood samples from vaxxed individuals.
>>95767 Pakistan OKs visas for Japan-bound Afghan evacuees without passports
>>95766 Liberal George Soros Connected Group Sends Letter to FCC Calling to "Shoot Republicans"
>>95762 A federal appeals court judge has blocked New York City's COVID-19 vaccine mandate just days before it was set to go into effect
>>95758 BP Says 30% of Its U.K. Gas Stations Are Out of Main Fuel Grades
>>95754 At least three dead and multiple injured as Amtrak trail derails in Montana
>>95748 The Greatest War Story Ever Told, the Light has Won!
>>95747 Guess who CNN Interviewed after the Boston Marathon Bombing
>>95746 Save AmErica Rally in Des Moines, Iowa Sat, October 09, 2021 07:00 pm (CDT)
>>95744 France had Scott Morrison's mate David Gazard on their payroll for the $90 billion Submarine scam. Has Morrison pulled off one of the biggest stings ever?
>>95742, >>95775 AVRIL HAINES - Director of National Intelligence for the Biden administration was a KEY PLAYER AT EVENT 201 PANDEMIC EXERCISE
>>95740 Dr. Ryan Cole discusses reports of a unusually high incidence of aggressive cancers "at unusual ages" after the jab -
>>95739 Now Milan, Italy RISES against Covid mandates
>>95737, >>95738 China declares Soros a Global Terrorist
>>95862 #617
Previously Collected Notables:
>>95223 #613, >>95417 #614, >>95497 #615, >>95713 #616
>>94543 #607, >>94665 #608, >>94794 #609, >>94894 #610, >>95011 #611, >>95140 #612
>>93714 #601, >>93836 #602, >>93972 #603, >>94151 #604, >>94316 #605, >>94419 #606
QRB notables archived here >>>/qrb/9528
Notables aggregator https://wearethene.ws
Notables aggregator https://qnotables.com
#96108 at 2021-09-27 21:09:49 (UTC+1)
QRB General #619: Just Another Panic-Manic Monday in DC Edition
>>95948 pb Boston Fed President Eric Rosengren To Retire After Ethics Issue
Rob Kaplan to retire as Dallas Fed president after controversy over financial disclosures
Boston Federal Reserve president Eric Rosengren also announced his retirement on Monday.
Rob Kaplan is retiring as president and CEO of The Federal Reserve Bank of Dallas after financial disclosures showed he was trading stocks last year while voting on critical monetary policy for the U.S. during the pandemic.
His announcement follows Boston Federal Reserve President Eric Rosengren's announcement earlier today that he was retiring early because he qualified for a kidney transplant. He originally planned to retire in June 2022 when he hit the mandatory retirement age for bank presidents of 65. Both Fed officials, as well as nine others, had their 2020 financial stock-trading activities publicized in a September article from the Wall Street Journal. After questions about the ethics of the trades, both Fed presidents announced they would sell all their individual stock holdings by Sept. 30. While the investments are permitted under the Fed's rules, Kaplan, 64, said he didn't want his financial disclosures to distract from the country's economic recovery process.
"Unfortunately, the recent focus on my financial disclosure risks becoming a distraction to the Federal Reserve's execution of that vital work," Kaplan said in a statement. "For that reason, I have decided to retire as President and CEO of the Federal Reserve Bank of Dallas."
Kaplan's financial transactions, showing millions of dollars in trades in 2020, stood out from the other Fed presidents' financial profiles, which were more modest. Kaplan had 27 stock, fund or alternative asset holdings valued at over $1 million each, including Apple, Alibaba, Amazon, Facebook, Google and Tesla. He also had 22 buying or selling transactions valued at over $1 million each.
Rosengren's financial disclosures showed stakes in four separate real estate investment trusts and disclosed multiple purchases and sales in those and other securities last year.
Federal Reserve Bank presidents are subject to mandatory retirement at 65 years of age unless they're appointed after the age of 55, in which case they can serve up to 10 years before having to retire. Since Kaplan was appointed in 2015 at age 58, he could have served until 2025.
A former Goldman Sachs executive who considered himself a centrist on monetary policy, Kaplan's retirement will be effective Oct. 8. He served for six years and was the 13th leader of the Dallas Fed. Before joining the Fed, Kaplan spent 23 years at Goldman Sachs and taught at Harvard Business School. At Goldman Sachs, he became a partner in 1990 and went on to become vice chairman and then senior director of the firm.
At the 1,200-employee Dallas Fed, he heads a district that includes Texas, northern Louisiana and southern New Mexico.
https://www.dallasnews.com/business/banking/2021/09/27/rob-kaplan-to-retire-as-dallas-fed-president-after-controversy-over-financial-disclosures/
#96047 at 2021-09-27 18:24:36 (UTC+1)
QRB General #619: Just Another Panic-Manic Monday in DC Edition
Globals
HELP WANTED: learn how to bake today! Ask any baker
Endchan site has 3 possible extensions: .net, .org, .gg New PSA
>>92136 Copy POSTS w/IMAGES you want to access after 24 hours on endchan.net/qrbunker. NOT Gerbil's board. NEW
>>82749 Guidelines on CP, what to report in addition to illegal images
>>95970 New version of QResear.ch
Notables
are not endorsements
#618
>>95942, >>95954, >>95972, >>95980, >>96023, >>96028 Munday eyez on the skyz
>>96042 Wells Fargo Tumbles After DoJ Lawsuit Over Fraudulent FX Services
>>96040 Watch live as NASA launches a new eye on Earth satellite aboard an Atlas 5 rocket
>>96039 This year marks the centennial of the creation of the Tomb of the Unknown Soldier at Arlington National Cemetery.
>>96036 ECW: Was the release of Huawei exec Meng Wanzhou a strategic error?
>>96035 NCF Dr Rima Laibow Codex Alimentarius and the Nazi Agenda 21 depoulation plan
>>96034, >>96041 Taliban/Burisma/Pipeline/no UN recognition/Ukraine
>>96022 Biden Admin Loses DACA Appeal In Texas... So They're Just Making A New Rule
>>96014, >>96018, >>96024 @RichardGrenell German elections require voters to have identification and they don't use machines to count votes.
>>95997, >>95999, >>96007, >>96017 XIAOMI, HUAWEI, POWERBRIDGE
>>95995 Symbolic environments of STAR WARS (film analysis)
>>95992, >>95993, >>96025, >>96026 Buyden getting booster live
>>95982 Gruesome 2-Year Auction As Markets Start To Freak Out About Tigher Fed
>>95981, >>95983, >>95986, >>96037 "Damn You To Hell, You Will Not Destroy AmErica" - Here Is The 'Spartacus COVID Letter' That's Gone Viral
>>95970 qresear.ch better czech it out
>>95966 When you're out and about at your usual Trump rally, it can be hard to tell the feds apart from the regular, down-to-earth QAnon people.
>>95963 Japan to lift COVID emergency on Thursday
>>95951, >>95994, >>95997, >>95999, >>96007 shutdown as soon as Oct 1./10 days of darkness?/Red October Global Economic Crash/Crypto Holdings Ltd
>>95950 West Coast Port Congestion Doesn't Show Any Signs of Letting Up
>>95949 Judge Joe Brown Drops Bombshells About Obama's Past
>>95948 Boston Fed President Eric Rosengren To Retire After Ethics Issue
>>95942, >>96005 Where was Joe yesterday, hmmmmm..............?
>>95935, >>95937, >>95938 Millions of iPhones, TVs and other devices could go offline next week - here's why [updated]
>>95927, >>95928, >>95929, >>96013, >>96020 gluten, celiac diesease, quality of the wheat?
>>95921 Here's a list of every single one of the 135 GOP members of Congress who just voted to disarm AmEricans with unconstitutional Red Flag laws
>>95914, >>95919 AZ hanging in the balance
>>95904, >>95906 Jacinda Ardern's vaxx FB disaster
>>95903 The Zulu Come Out In Force Against Mandatory Vaccinations In South Africa
>>95876 Slovakia is first nation to approve IVM in Jan 2021 - here are the results at the end of Sept
>>96044 #618
#617
>>95756, >>95757, >>95763, >>95776, >>95783, >>95784, >>95787, >>95837 Sunday planefaggin
>>95853 "they are growing"
>>95849 filament nonorganic
>>95814 Neil Oliver: The 'New World Order' Is on Verge of Collapse - 'Strongest Smell of Fear Coming From the Elite, Hold the Line'
>>95811 Rock solid vaccine exemption.
>>95808 these are the republicans that voted yes on red flag confiscation of your guns
>>95802 POTUS, "117 you may be right!"
>>95801 parasites?
>>95800, >>95824, >>95817 AIDS is casued by the CHAGAS parasite?
>>95798 In 1914, the U.S. unilaterally seized the entirety of Haiti's gold reserves/next year, it invaded Haiti and occupied it for 20 years.
>>95793, >>95794 AZ logs deleted
>>95792, >>95807 Maria Bartiromo Brings Up Creepy John Podesta Today Noting the Clintons Had More to Do with Russia than the Trumps Ever Did
>>95786, >>95841 Ardern trying to get ahead of the "side effects" buzz.....
>>95779, >>95780, >>95781 Abnormal blood samples from vaxxed individuals.
>>95767 Pakistan OKs visas for Japan-bound Afghan evacuees without passports
>>95766 Liberal George Soros Connected Group Sends Letter to FCC Calling to "Shoot Republicans"
>>95762 A federal appeals court judge has blocked New York City's COVID-19 vaccine mandate just days before it was set to go into effect
>>95758 BP Says 30% of Its U.K. Gas Stations Are Out of Main Fuel Grades
>>95754 At least three dead and multiple injured as Amtrak trail derails in Montana
>>95748 The Greatest War Story Ever Told, the Light has Won!
>>95747 Guess who CNN Interviewed after the Boston Marathon Bombing
>>95746 Save AmErica Rally in Des Moines, Iowa Sat, October 09, 2021 07:00 pm (CDT)
>>95744 France had Scott Morrison's mate David Gazard on their payroll for the $90 billion Submarine scam. Has Morrison pulled off one of the biggest stings ever?
>>95742, >>95775 AVRIL HAINES - Director of National Intelligence for the Biden administration was a KEY PLAYER AT EVENT 201 PANDEMIC EXERCISE
>>95740 Dr. Ryan Cole discusses reports of a unusually high incidence of aggressive cancers "at unusual ages" after the jab -
>>95739 Now Milan, Italy RISES against Covid mandates
>>95737, >>95738 China declares Soros a Global Terrorist
>>95862 #617
#616
>>95521, >>95522, >>95544, >>95561, >>95569, >>95571, >>95702 Eazy Saturday planefaggin
>>95712 List of Intel Fools Who Pushed Hunter Biden Russian Laptop Lie
>>95702, >>95704, >>95711 45 in XGN290 G4-SP departed Perry-Houston County Airport back to Palm Beach Int'l/sQuAWK # 3125 LOCK HER UP!
>>95699, >>95700 Scavino on Rally/Q55
>>95698, >>95701 How many 7's in this QPost !?!?! How many FLAGS OUT !?!?!
>>95694, >>95695 MTG GUN CONTEST 0.50 CAL value $10,000
>>95693 Retired US Navy officer Harold Thomas Martin III, 51, has been dubbed 'the second Snowden' by the press
>>95586 to the end of bread all Perry,GA Rally sayings and pics
>>95588 President Jimmy Carter Distributed 160 million Treatments of Ivermectin In 11 Countries After 4.4 billion Treatments of Ivermectin from 1988 to 2020... Without Safety Issues...
>>95585 CM: The auditors know exactly who destroyed the data. The identity of the criminal was given to AG Brnovich.
>>95584 Forget 5G, China Is Ramping Up For 6G
>>95582 New Alabama bill will give employees the right to take legal action against their employer if they are injured by the vaccine
>>95581 Florida's New Surgeon General, Dr. Joseph Ladapo, Has Signed Great Barrington Declaration
>>95574, >>95576, >>95578, >>95705 Joe Oltmann says this is the real report from Cyber Ninjas. Logan and his family were threatened
>>95572 Amending Executive Order 13959 Addressing the Threat From Securities Investments That Finance Communist Chinese Military Companies
>>95562, >>95568 RudyG Speaks Out On Fox News Ban, Says He Has The Text That 'Can Put Biden In Jail'
>>95556 GET RID OF ALL ELECTRONIC VOTING MACHINES COZ EVERY FUGGEN COMPANY IS COMPD AND THEY ALL CONSPIRE TOGETHER
>>95550 Rally REEEEEEEEEEEEEEEEEE
>>95544 45arriving at Perry, Georgia from Palm Beach Int'l depart
>>95540 NYC urges US Supreme Court to uphold local gun control laws
>>95530 Kayleigh McEnany SHREDS Fauci As A Con Artist Swimming In The DC Swamp
>>95528, >>95529 a link to the IGA Report by We The People AZ Alliance
>>95527, >>95537 Stew Peters - Trump Staffer Breaks Media Silence: Garrett Ziegler Exposes Biden Crime Family
>>95526, >>95537 Sidney Powell Live: Pelosi terrified, Coomer deposed, Breaking: Powell Suit filed today
>>95521 PM Suga outta here/Meet the candidates vying to be LDP leader
>>95512 Maricopa County Audit Report: Over 57k Votes In Question
>>95713 #616
Previously Collected Notables:
>>95223 #613, >>95417 #614, >>95497 #615
>>94543 #607, >>94665 #608, >>94794 #609, >>94894 #610, >>95011 #611, >>95140 #612
>>93714 #601, >>93836 #602, >>93972 #603, >>94151 #604, >>94316 #605, >>94419 #606
QRB notables archived here >>>/qrb/9528
Notables aggregator https://wearethene.ws
Notables aggregator https://qnotables.com
#96044 at 2021-09-27 18:22:10 (UTC+1)
QRB General #618: Organic or No? Edition
#618
>>95942, >>95954, >>95972, >>95980, >>96023, >>96028 Munday eyez on the skyz
>>96042 Wells Fargo Tumbles After DoJ Lawsuit Over Fraudulent FX Services
>>96040 Watch live as NASA launches a new eye on Earth satellite aboard an Atlas 5 rocket
>>96039 This year marks the centennial of the creation of the Tomb of the Unknown Soldier at Arlington National Cemetery.
>>96036 ECW: Was the release of Huawei exec Meng Wanzhou a strategic error?
>>96035 NCF Dr Rima Laibow Codex Alimentarius and the Nazi Agenda 21 depoulation plan
>>96034, >>96041 Taliban/Burisma/Pipeline/no UN recognition/Ukraine
>>96022 Biden Admin Loses DACA Appeal In Texas... So They're Just Making A New Rule
>>96014, >>96018, >>96024 @RichardGrenell German elections require voters to have identification and they don't use machines to count votes.
>>95997, >>95999, >>96007, >>96017 XIAOMI, HUAWEI, POWERBRIDGE
>>95995 Symbolic environments of STAR WARS (film analysis)
>>95992, >>95993, >>96025, >>96026 Buyden getting booster live
>>95982 Gruesome 2-Year Auction As Markets Start To Freak Out About Tigher Fed
>>95981, >>95983, >>95986, >>96037 "Damn You To Hell, You Will Not Destroy AmErica" - Here Is The 'Spartacus COVID Letter' That's Gone Viral
>>95970 qresear.ch better czech it out
>>95966 When you're out and about at your usual Trump rally, it can be hard to tell the feds apart from the regular, down-to-earth QAnon people.
>>95963 Japan to lift COVID emergency on Thursday
>>95951, >>95994, >>95997, >>95999, >>96007 shutdown as soon as Oct 1./10 days of darkness?/Red October Global Economic Crash/Crypto Holdings Ltd
>>95950 West Coast Port Congestion Doesn't Show Any Signs of Letting Up
>>95949 Judge Joe Brown Drops Bombshells About Obama's Past
>>95948 Boston Fed President Eric Rosengren To Retire After Ethics Issue
>>95942, >>96005 Where was Joe yesterday, hmmmmm..............?
>>95935, >>95937, >>95938 Millions of iPhones, TVs and other devices could go offline next week - here's why [updated]
>>95927, >>95928, >>95929, >>96013, >>96020 gluten, celiac diesease, quality of the wheat?
>>95921 Here's a list of every single one of the 135 GOP members of Congress who just voted to disarm AmEricans with unconstitutional Red Flag laws
>>95914, >>95919 AZ hanging in the balance
>>95904, >>95906 Jacinda Ardern's vaxx FB disaster
>>95903 The Zulu Come Out In Force Against Mandatory Vaccinations In South Africa
>>95876 Slovakia is first nation to approve IVM in Jan 2021 - here are the results at the end of Sept
#618
bout full
bake set
post now or forever hold thy piece
kek
#96030 at 2021-09-27 17:50:52 (UTC+1)
QRB General #618: Organic or No? Edition
#618
>>95942, >>95954, >>95972, >>95980, >>96023, >>96028 Munday eyez on the skyz
>>96022 Biden Admin Loses DACA Appeal In Texas... So They're Just Making A New Rule
>>95927, >>95928, >>95929, >>96013, >>96020 gluten, celiac diesease, quality of the wheat?
>>96022 Biden Admin Loses DACA Appeal In Texas... So They're Just Making A New Rule
>>96014, >>96018, >>96024 @RichardGrenell German elections require voters to have identification and they don't use machines to count votes.
>>95997, >>95999, >>96007, >>96017 XIAOMI, HUAWEI, POWERBRIDGE
>>95995 Symbolic environments of STAR WARS (film analysis)
>>95992, >>95993, >>96025, >>96026 Buyden getting booster live
>>95982 Gruesome 2-Year Auction As Markets Start To Freak Out About Tigher Fed
>>95981, >>95983, >>95986 "Damn You To Hell, You Will Not Destroy AmErica" - Here Is The 'Spartacus COVID Letter' That's Gone Viral
>>95970 qresear.ch better czech it out
>>95966 When you're out and about at your usual Trump rally, it can be hard to tell the feds apart from the regular, down-to-earth QAnon people.
>>95963 Japan to lift COVID emergency on Thursday
>>95951, >>95994, >>95997, >>95999, >>96007 shutdown as soon as Oct 1./10 days of darkness?/Red October Global Economic Crash/Crypto Holdings Ltd
>>95950 West Coast Port Congestion Doesn't Show Any Signs of Letting Up
>>95949 Judge Joe Brown Drops Bombshells About Obama's Past
>>95948 Boston Fed President Eric Rosengren To Retire After Ethics Issue
>>95942, >>96005 Where was Joe yesterday, hmmmmm..............?
>>95935, >>95937, >>95938 Millions of iPhones, TVs and other devices could go offline next week - here's why [updated]
>>95921 Here's a list of every single one of the 135 GOP members of Congress who just voted to disarm AmEricans with unconstitutional Red Flag laws
>>95914, >>95919 AZ hanging in the balance
>>95904, >>95906 Jacinda Ardern's vaxx FB disaster
>>95903 The Zulu Come Out In Force Against Mandatory Vaccinations In South Africa
>>95876 Slovakia is first nation to approve IVM in Jan 2021 - here are the results at the end of Sept
#618
czech em
lemme know
#95996 at 2021-09-27 16:36:51 (UTC+1)
QRB General #618: Organic or No? Edition
#618
>>95942, >>95954, >>95972, >>95980 Munday eyez on the skyz
>>95995 Symbolic environments of STAR WARS (film analysis)
>>95992, >>95993 Buyden getting booster live
>>95982 Gruesome 2-Year Auction As Markets Start To Freak Out About Tigher Fed
>>95981, >>95983, >>95986 "Damn You To Hell, You Will Not Destroy AmErica" - Here Is The 'Spartacus COVID Letter' That's Gone Viral
>>95970 qresear.ch better czech it out
>>95966 When you're out and about at your usual Trump rally, it can be hard to tell the feds apart from the regular, down-to-earth QAnon people.
>>95963 Japan to lift COVID emergency on Thursday
>>95951, >>95994 shutdown as soon as Oct 1./10 days of darkness?/Red October Global Economic Crash
>>95950 West Coast Port Congestion Doesn't Show Any Signs of Letting Up
>>95949 Judge Joe Brown Drops Bombshells About Obama's Past
>>95948 Boston Fed President Eric Rosengren To Retire After Ethics Issue
>>95935, >>95937, >>95938 Millions of iPhones, TVs and other devices could go offline next week - here's why [updated]
>>95921 Here's a list of every single one of the 135 GOP members of Congress who just voted to disarm AmEricans with unconstitutional Red Flag laws
>>95914, >>95919 AZ hanging in the balance
>>95904, >>95906 Jacinda Ardern's vaxx FB disaster
>>95903 The Zulu Come Out In Force Against Mandatory Vaccinations In South Africa
>>95876 Slovakia is first nation to approve IVM in Jan 2021 - here are the results at the end of Sept
#618
czech em
lemme know
I don't go over notes from the top
if sumpin got missed juss lemme know
#95969 at 2021-09-27 15:06:03 (UTC+1)
QRB General #618: Organic or No? Edition
notables bun @100
czech 'em
#618
>>95942 Munday eyez on the skyz
>>95963 Japan to lift COVID emergency on Thursday
>>95950 West Coast Port Congestion Doesn't Show Any Signs of Letting Up
>>95949 Judge Joe Brown Drops Bombshells About Obama's Past
>>95948 Boston Fed President Eric Rosengren To Retire After Ethics Issue
>>95935, >>95937, >>95938 Millions of iPhones, TVs and other devices could go offline next week - here's why [updated]
>>95921 Here's a list of every single one of the 135 GOP members of Congress who just voted to disarm AmEricans with unconstitutional Red Flag laws
>>95914, >>95919 AZ hanging in the balance
>>95904, >>95906 Jacinda Ardern's vaxx FB disaster
>>95903 The Zulu Come Out In Force Against Mandatory Vaccinations In South Africa
>>95876 Slovakia is first nation to approve IVM in Jan 2021 - here are the results at the end of Sept
#95948 at 2021-09-27 13:59:33 (UTC+1)
QRB General #618: Organic or No? Edition
Boston Fed President Eric Rosengren To Retire After Ethics Issue
Boston Fed President Eric Rosengren, one of the senior Fed officials caught up in the trading disclosures scandal earlier this month, has abruptly decided to retire on Sept. 30, newswires report.
His first vice president, Kenneth Montgomery, will assume the role of interim president and CEO of the Boston Fed bank until a permanent replacement can be found. But crucially, as of now, Montgomery will be the one casting the Boston Fed's vote on the FOMC starting next year, unless a permanent replacement for Rosengren can be found more quickly.
While many have already likely assumed Rosengren's departure is related to the trading ethics scandal (and he was not the only senior Fed official to have been ensnared, with his colleague Robert Kaplan in Dallas and even Powell to an extent), according to Rosengren, he has a kidney condition, and staving off dialysis is dependent on him making "lifestyle changes". Previously, he had planned on retiring in June 2022, in according with the mandatory retirement at 65 rule. In a message to the Bank's staff, Dr. Rosengren revealed for the first time that he qualified for the kidney transplant list in June of 2020, during the pandemic, upon the worsening of a kidney condition he has had for many years. Delaying the need for dialysis might be improved if he makes lifestyle changes now to lessen the risks of his condition. Rosengren said, "It has been an honor to serve at the Federal Reserve System, in a job where one can be constantly engaged in pursuing the economic and financial well-being of the country and New England. I know that my colleagues will build on our progress, and continue making a difference for the public we serve." There were notably calls from some for the officials involved to step down from the Fed in the wake of the ethics scandal. Chair Powell has already ordered a formal review.
Fed Chairman Jerome Powell has already released a statement: "Eric has distinguished himself time and again during more than three decades of dedicated public service in the Federal Reserve System. He led the Fed's work in managing several emergency lending facilities in two separate periods of economic crisis. In addition to his monetary policy insights, Eric brought a relentless focus on how best to ensure the stability of the financial system. My colleagues and I will miss him."
And as for Rosengren's kidney issue, we can't help but wonder: is this a recent development? It's not for us to speculate but the timing certainly seems...curious.
Rosengren retires because of health issues. From a week ago: He "made as many as 37 separate trades in the four REITS while the Fed purchased almost $700 billion in mortgage backed securities". https://t.co/81ubXGqmOI- Quoth the Raven (@QTRResearch) September 27, 2021
As far as succession goes, the Boston Fed's search committee will consist of the six non-banker board of directors members, and will be chaired by Dr. Paxson. According to US = law, only directors not affiliated with regulated banks or financial institutions are eligible to help select a Federal Reserve Bank president. The choice must be approved by the Federal Reserve's Board of Governors.
https://www.zerohedge.com/markets/boston-fed-president-Eric-Rosengren-retire-after-ethics-issue
#93448 at 2021-09-20 14:48:45 (UTC+1)
QRB General #600: Big Six Oh Oh Bunker Makeover Before The Storm Edition
Trump Treasury Secretary Steve Mnuchin Launches $2.5 Billion Private Equity Fund
Former Treasury Secretary Steven Mnuchin has just sent the clearest signal yet that he likely wouldn't rejoin a potential second Trump Administration (despite being one of the more successful cabinet members) via reports that the ex-Goldmanite will raise $2.5 billion for a new private equity fund. Mnuchin isn't the only industry giant who is launching a new PE fund amid an explosion of dealmaking spurred in part by the Fed's policy response to the pandemic. Back in July, former Apollo founder Josh Harris announced fundraising plans for his own billion-dollar fund.
The news of Mnuchin's fund comes via Bloomberg.
Absolutely amazing SCOOP from @HeatherPerlberg and @sonalibasak:
*STEVEN MNUCHIN RAISES $2.5 BILLION FOR PRIVATE EQUITY FUND
"Most of the money is from sovereign wealth funds in the Middle East, including Saudi Arabia's Public Investment Fund." more on @TheTerminal- Brian Chappatta (@BChappatta) September 20, 2021
According to the report, most of the money will come from the Middle East, including from Saudi Arabia's Public Investment Fund. Remember, Mnuchin was a key player who helped build the Trump Administration's increased closeness with the Middle East. Trump memorably visited Saudi Arabia for his first public official visit after taking office.
Mnuchin's success in raising the money is just the latest evidence that, far from being "ostracized" by polite society, many members of President Trump's former inner circle are moving on to big things. After spending nearly 2 decades at Goldman, Mnuchin famously reaped a massive windfall during the housing bust via being chairman of OneWest (formerly IndyMac) a failing mortgage provider that had been taken over by the FDIC before Mnuchin and his billionaire partners rescued and transformed it into a "foreclosure machine", helping Mnuchin and his partners make hundreds of millions in profits while throwing thousands out of their homes. More recently, Mnuchin ran a hedge fund called Dune Capital Management. Before serving as Trump's Treasury Secretary, he stepped up to become the Trump 2016 campaign's chief fundraiser.
Mnuchin's fund isn't exactly a secret, or a surprise (though the fact that it has raised so much from the Middle East is certainly newsworthy). Back in July, Mnuchin appeared on CNBC to generate press for his PE firm's $275MM investment in Cyberreason, a company that focuses on cyber security and preventing cyber attacks.
Such a firm would probably be well positioned to win some juicy government contracts if Trump or another GOPer wins back control of the White House.
Notably, the latest news about Mnuchin's PE firm follows last week's backlash to revelations by the regional Fed banks that Fed presidents including Robert Kaplan and Eric Rosengren actively traded in 2020, with Kaplan having placed the biggest trades. The news led Boston's Eric Rosengren and Kaplan to dump their holdings - just before stocks, which have been sliding all month, took another leg lower.
https://www.zerohedge.com/markets/trump-treasury-secretary-steve-mnuchin-launches-25-billion-private-equity-fund
kinda wondered when dis one would surface again....
#92483 at 2021-09-17 14:57:26 (UTC+1)
QRB General #592: The World Is About To Change Edition
>>92075 pb Powell Orders Review Of Fed Ethics Rules After Trading Disclosures Spark Mass Outrage
Fed officials owned securities it was buying during pandemic, raising more questions about conflicts
Amid an outcry about Federal Reserve officials owning and trading individual securities, an in-depth look by CNBC at officials' financial disclosures found three who last year held assets of the same type the Fed itself was buying.
*Boston Fed President Eric Rosengren held between $151,000 and $800,000 worth of real estate investment trusts that owned mortgage backed securities. He made as many as 37 separate trades in the four REITS while the Fed purchased almost $700 billion in MBS.
*Fed Chair Jerome Powell held between $1.25 million and $2.5 million of municipal bonds in family trusts over which he is said to have no control. They were just a small portion of his total reported assets. While the bonds were purchased prior to 2019, they were held while the Fed last year bought $21.3 billion in munis, including one from the state of Illinois purchased by his family trust in 2016. Among the very few bonds the Fed bought last year was one from the State of Illinois.
*Richmond Fed President Thomas Barkin held $1.35 million to $3 million in individual corporate bonds purchased before 2020. They include bonds of Pepsi, Home Depot and Eli Lilly. The Fed last year opened a corporate bond buying facility and bought $46.5 billion of corporate bonds.
None of these holdings or transactions appeared to violate the Fed's code of conduct. But they raise questions about the Fed's conflict of interest policies and the oversight of central bank officials. Among those questions: Should the Fed have banned officials from holding, buying and selling the same assets the Fed itself was buying last year when it dramatically widened the types of assets it would purchase in response to the pandemic? The Fed's own code of conduct says officials "should be careful to avoid any dealings or other conduct that might convey even an appearance of conflict between their personal interests, the interests of the system, and the public interest." A Fed spokesperson told CNBC that Powell had no say over the Fed's individual municipal bond purchases and no say over the investments in his family's trusts. A Fed ethics officer determined that the holdings did not violate government rules. Barkin declined to comment.
Rosengren has announced he would sell his individual positions and stop trading while he is president. Dallas Fed President Robert Kaplan, who actively traded millions of dollars of individual stocks, also said he would no longer trade and would sell his individual positions. But he said his trade did not violate Fed ethics rules. A spokesman for Rosengren told CNBC that he "made sure his personal saving and investment transactions complied with what was permissible under Fed ethics rules."
But Dennis Kelleher, CEO of the non-profit Better Markets, said if some of these Fed actions are not against the rules, the rules need to change. "To think that such trading is acceptable because it is supposedly allowed by Fed's current policies only highlights that the Fed's policies are woefully deficient," Kelleher told CNBC. While trading by Rosengren and Kaplan was conducted during the so-called black-out period, when Fed officials are not allowed to talk publicly about monetary policy or trade, Kelleher said during a crisis like last year, "the whole year should be considered a blackout period" because Fed officials are constantly talking and crafting policy in response to fast-moving events.
In response to CNBC questions asked in the process of our research, a Fed spokesperson released a statement Thursday saying Powell ordered a review last week of the Fed's ethics rules surrounding "permissible financial holdings and activities by senior Fed officials."
https://www.cnbc.com/2021/09/17/fed-officials-owned-securities-it-was-buying-during-pandemic-raising-more-questions-about-conflicts.html
#92075 at 2021-09-16 14:49:01 (UTC+1)
QRB General #589: Durham Rocks The News Edition
Powell Orders Review Of Fed Ethics Rules After Trading Disclosures Spark Mass Outrage
Fed Presidents Robert Kaplan and Eric Rosengren have committed to liquidating their portfolios (at a particularly auspicious time for stocks, which continued to smash through ATHs all summer long) in the wake of a market-shaking scandal caused by the release of senior Fed officials' financial disclosure forms, which revealed that Dallas Fed President Robert Kaplan made several million-dollar trades in 2020, while his fellow Fed officials (including Boston's Eric Rosengren) made smaller trades of their own. The financial revelations followed speculation about Fed Chairman Powell's portfolio late last month in research published by Dylan Grice.
But even Grice probably didn't expect the popular backlash elicited by news that senior Fed officials were playing the stock market, just like the unwashed Robinhood-loving masses, while their hands were on the money printer. On social media, users mocked the news as potentially damning for the central bank's credibility, since even the appearance of potential corruption is enough to destroy trust in a public institution, even if Powell & Co. continue to deny that their finances have now sway over policy. None of them have placed their money in blind trusts, which are considered the gold standard for dispelling conflicts of interest.
Cleraly sensing just how drastic this threat to the Fed's credbility has become, Fed Chairman Powell has Thursday directed board staff to take a fresh and comprehensive look at the ethics rules around permissible financial holdings and activities by senior Fed officials. A Fed spokesman also said the Fed has a set of supplemental rules that are stricter than those that apply to members of Congress and other agencies. The announcement comes after Sen. Elizabeth Warren, who recently led the charge to jeopardize Powell's reappointment as Fed chair, challenged the Fed to impose a ban on the ownership and trading of individual stocks by senior officials.
After the stock trading debacles at the Dallas and Boston Federal Reserve banks, Sen. Warren writes to all 12 presidents: within 60 days, impose a ban on the ownership and trading of individual stocks by senior officials https://t.co/VtILTutTU1 pic.twitter.com/PavneO6v1z- Brian Cheung (@bcheungz) September 16, 2021
It's too early to say whether this "review" might lead to the censure, or ouster, of any senior Fed officials. But it's clear that Powell senses the threat to the Fed's independence that the trading revelations represent. Unfortunately, at this point, it's a little like slamming the barn door after the horse has bolted.
https://www.zerohedge.com/markets/powell-orders-review-fed-ethics-rules-after-trading-disclosures-spark-mass-outrage
>>89543 pb Dallas Fed's Robert Kaplan was an active buyer and seller of stocks last year-foxbiusiness
#89543 at 2021-09-08 15:08:02 (UTC+1)
QRB General #570: Is It Suicide Weekend Yet? Edition
Dallas Fed's Robert Kaplan was an active buyer and seller of stocks last year
Eleven of the Fed's 12 regional banks have provided disclosures of their leaders' 2020 financial profiles in recent days.
Federal Reserve Bank of Dallas President Robert Kaplan made multiple million-dollar-plus stock trades in 2020, according to a financial disclosure form provided by his bank, in contrast with other regional Fed leaders who reported more modest financial holdings and smaller transactions. Eleven of the 12 regional Fed banks have provided disclosures of their leaders' 2020 financial profiles since Friday, sharing information that gives insight into the holdings of officials who help set the central bank's monetary policy. The Chicago Fed didn't make immediately available information for their leader.
Mr. Kaplan has been one of the Fed's strongest voices warning that high levels of monetary stimulus are boosting risk levels in the financial sector. According to the disclosure form provided by the Dallas Fed, Mr. Kaplan had a total of 27 individual stock, fund or alternative asset holdings each valued at over $1 million. Mr. Kaplan's stockholdings included Apple Inc., Amazon Inc., Boeing Co., Alphabet Inc., Facebook Inc. and Marathon Petroleum Corp. The form also shows Mr. Kaplan made some combination of sales or purchases of over $1 million in 22 individual company shares or investment funds. These transactions included Apple, Alibaba Group Holding Ltd. , Amazon, General Electric Co. and Chevron Corp.
Mr. Kaplan, the Dallas Fed leader since 2015, has deep roots in the financial sector. He worked for investment bank Goldman Sachs Group Inc. for more than two decades and rose to become its vice chairman with responsibility for the firm's investment-banking activities, leaving that job in 2006. Before coming to the Dallas Fed, Mr. Kaplan was a professor at Harvard Business School.
Mr. Kaplan's wealth and active presence in the financial markets mirrors that of his predecessor at the Dallas Fed, Richard Fisher, who also reported substantial assets and trading in his own disclosures. A spokesman for the Dallas Fed said Mr. Kaplan's trading was reviewed and approved by the bank's general counsel.
The Fed's 12 regional banks are quasi-private institutions that are technically owned by member banks, and overseen by boards of directors drawn from the private sector. The regional Fed presidents occupy rotating slots on the policy-setting Federal Open Market Committee, and their banks collect local economic intelligence and house banking regulators. The regional presidents are also paid more than the Fed's Washington-based governors, who are explicitly part of the government.
In the forms provided for the other bank presidents, most reported modest holdings of investment funds and little in the way of large stock trading. Boston Fed chief Eric Rosengren listed a number of stock trades under "joint" status in transactions that were each $50,000 or less, for example. Richmond Fed leader Thomas Barkin, who was a senior executive at management consulting firm McKinsey & Co. before becoming bank president, listed a number of financial holdings each in excess of $1 million.
Atlanta Fed leader Raphael Bostic flagged on his form a number of property holdings that were associated with mortgages, while the Boston Fed leader also had a rental property. Kansas City Fed leader Esther George reported a stake in a farm.
https://www.foxbusiness.com/financials/dallas-feds-robert-kaplan-was-active-buyer-and-seller-stocks-last-year
#50968 at 2021-05-05 18:34:41 (UTC+1)
QRB General #154: The Grande Finale Approaches Edition
Fed officials tamp down overheating worries as nervous investors look on
Inflation jitters are popping up in earnings call chatter, spooking investors and dominating business television talk shows. One place they aren't taking over, it would appear, is the Federal Reserve.
AmErica's central bank is tasked with fostering maximum employment and stable inflation - making it the first line of defense against rising prices. Fed officials have been clear for months that they expect prices to pop this spring and summer as the economy reopens but that they think the jump will prove temporary. By and large, they are sticking to that script.
During a volley of speeches and appearances on Wednesday, central bank policymakers made it clear that they do not think incipient price pressures are going to prove painful or long-lasting. Some suggested they would even welcome what a hotter economy might have to offer. "You talk about the economy overheating, you kind of go: 'Gosh, I kind of like producing as much as we can,'" Charles Evans, president of the Federal Reserve Bank of Chicago, said during a call with reporters. "Why would you like unemployment to be higher when it can be lower? It depends on what the added cost is." The Fed aims for inflation at 2 percent on average over time, so it is currently angling for a period of slightly higher price gains to offset years and years of very weak gains. Price pressures are picking up a bit as they lap very slow readings from the worst pandemic shutdown last year, and economists think supply bottlenecks could keep them elevated as producers try to ramp up amid reopening.
Officials have been clear they do not expect that situation to be long-lived and do not expect it to force them to rapidly dial back the policies they have in place to bolster the economy - which include buying $120 billion of government-backed bonds per month and keeping interest rates at rock-bottom. "My view is that this acceleration in the rate of price increases is likely to prove temporary," Eric Rosengren, the president of the Federal Reserve Bank of Boston, said in a speech Wednesday. "Toilet paper and Clorox were in short supply at the outset of the pandemic, but manufacturers eventually increased supply, and those items are no longer scarce."
Still, Mr. Rosengren did counsel vigilance, saying the Fed should be paying attention to make sure the economy has not changed in ways that will make wages and prices more responsive to a tightening labor market.
https://www.nytimes.com/2021/05/05/business/economy/federal-reserve-overheating-worries.html
#45004 at 2021-04-12 03:17:12 (UTC+1)
QRB General #89: Infinite And Beyond Edition
Economic Schedule-week of April 11th
Expect the markets to be much higher by the end of the week. Bank 'earnings', Fed Beige Book-moar hopium plus Jerome gets to be a mouthpiece too. Add in PM of Japan Suga vists WH on Friday and they are just gonna sky it this week.
The inflate eberything with a pulse economy on full potato.
- Monday, Apr 12th -
No major economic releases scheduled.
- Tuesday, Apr 13th -
6:00 AM ET: NFIB Small Business Optimism Index for March.
8:30 AM: The Consumer Price Index for March from the BLS. The consensus is for 0.5% increase in CPI, and a 0.2% increase in core CPI.
Federal Reserve Bank of Minneapolis will also hold a virtual event called "Racism and the Economy: Focus on the Economics Profession", with Federal Reserve bank presidents Esther George, Mary Daly, Raphael Bostic, Loretta Mester and Eric Rosengren participating in discussions or giving remarks throughout the day. Federal Reserve Bank of Philadelphia President Patrick Harker will also speak virtually at an economic outlook event with the Delaware State Chamber of Commerce.
:/
- Wednesday, Apr 14th -
7:00 AM ET: The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.
On Wednesday, a slew of earnings will be released including JPMorgan, Goldman Sachs and Wells Fargo as well as Bed Bath & Beyond, all before the opening bell. The day will also mark Coinbase's debut on the NASDAQ. The company will begin trading through a direct listing under the ticker symbol COIN. The cryptocurrency exchange operator's IPO was delayed after the company was hit by an investigation from the Commodity Futures Trading Commission. The company agreed to pay $6.5 million to settle regulatory claims that it reported misleading information about its trading volumes, though it did not admit to or deny the regulator's allegations.
12:00 PM: Discussion, Fed Chair Jerome Powell, Economic Club of Washington Interview, At the Economic Club of Washington
2:00 PM: the Federal Reserve Beige Book, an informal review by the Federal Reserve Banks of current economic conditions in their Districts.
Moderna will also hold a virtual Vaccine Day for analysts and investors, where the company's leadership and key opinion leaders will discuss Modern'a mRNA vaccines and key considerations for vaccine development. According to the Centers for Disease Control and Prevention, Moderna's COVID-19 vaccine accounts for over 78 million of the more than 171 million doses administered to date in the United States.
and since the co-founder just cashed in $422m in shares at the end of March almost a cool billion at $985m end of Feb. I'm sure they all are berry confident about the future.
https://finviz.com/insidertrading.ashx?oc=1222012&tc=7
- Thursday, Apr 15th -
8:30 AM: The initial weekly unemployment claims report will be released. The consensus is for a decrease to 720 thousand from 744 thousand last week.
8:30 AM: Retail sales for March is scheduled to be released. The consensus is for a 5.5% increase in retail sales. The consensus is probably low (given the stimulus checks).
8:30 AM: The New York Fed Empire State manufacturing survey for April. The consensus is for a reading of 18.2, up from 17.4.
8:30 AM: the Philly Fed manufacturing survey for April. The consensus is for a reading of 43.0, down from 51.8.
9:15 AM: The Fed will release Industrial Production and Capacity Utilization for March.
The consensus is for a 3.0% increase in Industrial Production, and for Capacity Utilization to increase to 75.8%.
10:00 AM: The April NAHB homebuilder survey. The consensus is for a reading of 83, up from 82. Any number above 50 indicates that more builders view sales conditions as good than poor.
- Friday, Apr 16th -
8:30 AM ET: Housing Starts for March.
The consensus is for 1.600 million SAAR, up from 1.421 million SAAR in February.
10:00 AM: University of Michigan's Consumer sentiment index (Preliminary for April).
10:00 AM: State Employment and Unemployment (Monthly) for March 2021
https://www.calculatedriskblog.com/p/weekly-schedule.html
https://www.foxbusiness.com/markets/jpmorgan-goldman-sachs-delta-earnings-and-coinbase-ipo-top-week-ahead
endchan qrbunker Posts (1)
#67171 at 2022-10-24 21:33:00 (UTC+1)
QR Bunker General #190: Monday Mornin Edition
'''This isn't really news for those who pay attention - actively bought the bottom (at time) and sold the top (at time) and remember they also traded 'around'-and doing it now for sure the $1T of QE they did in March/April of 2020 and the same conditions exist today (Bond mkts locking up)-FED even asked all the primary dealers and counterparties they deal with if thought they (FOMC) should/shouldn't print moar munee..of course you noe the answer(s)'''
'''The Fed's Trading Scandal Broadens into a Scandal with the Mega Banks It "Regulates"'''
Last Thursday, Jeanna Smialek, who reports on the Fed for the New York Times, broke the news that the President of the St. Louis Fed, James Bullard, gave a private, invitation-only briefing on October 14 to clients of Citigroup - a Wall Street megabank that is supervised by the Fed and which received the largest bailout from the Fed from 2007 to 2010 in global banking history - a cumulative sum of $2.5 trillion in secret loans according to a government audit.
Smialek noted in her article that "About 40 people attended the event, which had a formal agenda and was advertised to Citi clients." Bullard answered questions from attendees, according to Smialek's reporting. Bullard is a voting member of the Fed's Federal Open Market Committee and has access to insider information on the Fed's market-moving monetary policy actions. Bullard would appear to have been living under a rock for the past year. The rest of the world that has had access to news outlets is aware that the Fed remains under the largest trading and ethics scandal in its 109-year history. The Presidents of the Dallas Fed, Robert Kaplan, and the Boston Fed, Eric Rosengren, both resigned from their posts on September 27, 2021 after their aggressive trading during the pandemic in 2020 came to light. The Vice Chair of the Fed, Richard Clarida, also stepped down in January after details of his stock trading made headlines.
And on the same day that Bullard was giving that tone-deaf private briefing to Citigroup clients, the President of the Atlanta Fed, Raphael Bostic, released a seven-page statement in which he admitted to failing to list a multitude of trades that were conducted on his behalf by trading firms on Wall Street over a period of five years; failing to properly report income on his assets on his financial disclosure forms; trading during blackout periods when trading was barred by the Federal Reserve; and providing inaccurate values on his financial disclosure forms. But despite these jaw-dropping disclosures, the Board of Directors of the Atlanta Fed did not ask Bostic to step down. (See our report: Atlanta Fed President Bought Low and Sold High in 2020 as the Fed Bailed Out Wall Street; Then He Failed to Report those Trades.) And, thus far, Bullard appears to be keeping his job as well, despite calls for him to leave the Fed immediately.
One year ago, Senator Elizabeth Warren delivered a speech on the Senate Floor calling out the Fed for a "culture of corruption." (See video below.) Senator Warren is quoted in the recent New York Times report again using the phrase "culture of corruption" to describe just how little has changed at the Fed despite an ongoing investigation and a year of withering headlines. As far as the public knows, the ongoing investigation of the Fed's trading and ethics scandal is not in the hands of the Securities and Exchange Commission or the U.S. Department of Justice but is in the hands of the Fed's Inspector General, which is hardly an independent investigator since it reports to the Fed's Board of Governors - the very body that has allowed this culture of corruption to metastasize. A key reason that this matter demands the eyes of career prosecutors is that the mega banks on Wall Street, which are supervised by the Fed, have been closely linked by Wall Street On Parade to the trading activities of the Fed officials.
https://wallstreetonparade.com/2022/10/the-feds-trading-scandal-broadens-into-a-scandal-with-the-mega-banks-it-regulates/