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As of this moment the world wonders, rightfully so, why Obama has to meet with Janet Yellen in private and just what information is so important that it can only be said behind closed doors. Perhaps sensing this confusion, White House spokesman Josh Earnest apologetically noted that President Obama "cares deeply about preserving both the appearance of and the fact of the independence of both the Federal Reserve" and Fed Chair Janet Yellen, White House Press Sec.

Just after today's emergency meeting at the Fed, which has presumably concluded by now, as we first reported last night Obama was set to meet with the "independent" Federal Reserve chair. Moments ago the White House explained this was to allow the two to "exchange notes" and talk about the state of the US economy. Most crucially, Obama said he "was pleased with the way Yellen had fulfilled her job."

This is what the White House said they would discuss:

Now that the prospect of helicopter money by the ECB has so infuriated Germany, the ECB had to reach out to Schauble to "mollify" the Germans who are dreading the second coming of monetary paradrops in one century, it was only a matter of time before Citadel's most prominent employer opined. In a blog post earlier today, Brookings' blogger and the central banker who together with Alan Greenspan has been most responsible for the world's unprecedented debt pile and sad economic state, Ben Bernanke, took the podium to share his views on "helicopter money" head on.

As we enter the critical spring borrowing base redetermination season, which as we previewed previously is the biggest threat to near-insolvent energy companies whose banks may, and in many cases will, decide their assets are worth far less and as a result dramtically cut their revolver availability, one of the biggest question marks was how generous would the banks of troubled gas giant Chesapeake be, whose $4 billion credit facility is one of the few things keeping the company still afloat. 

Submitted by Lance Roberts via RealInvestmentAdvice.com,

YELLEN IS YELLIN’ & THE MARKET’S ARE LISTENIN’

If you like volatility, you had to love this past week. After sliding 22 points on Tuesday, the market rebounded sharply on Wednesday, gave up those plus more on Thursday, and as of Friday is struggling to stay positive.