US Federal Reserve

Authored by Ron Paul via The Ron Paul Institute for Peace and Prosperity,

Audit the Fed recently took a step closer to becoming law, when it was favorably reported by the House Committee on Oversight and Government Reform. This means the House could vote on the bill at any time. The bill passed by voice vote without any objections, although Fed defenders did launch hysterical attacks on the bill during the debate as well as at a hearing on the bill the previous week.

Authored by Economic Prism's MN Gordon, via Acting-Man.com,

Behind the Curve

Economic nonsense comes a dime a dozen.  For example, Federal Reserve Chair Janet Yellen “think(s) we have a healthy economy now.”  She even told the University of Michigan’s Ford School of Public Policy so earlier this week.  Does she know what she’s talking about?

Somehow, this cartoon never gets old…

Authored by Jeff Thomas via InternationalMan.com,

Regarding the Great Depression… we did it. We’re very sorry… We won’t do it again.

– Ben Bernanke

 

Waiting too long to begin moving toward the neutral rate could risk a nasty surprise down the road—either too much inflation, financial instability, or both.

– Janet Yellen

The economy is now in VERY serious trouble.

The Fed’s own GDP models now show 1Q17 growth tracking at just 0.5%. This is DOWN from an original forecast of 3.2% in February. Put another way, the economy has begun contracting at a RAPID pace.

Moreover, we are getting numerous signals that the US consumer, the single largest driver of the economy, is not spending.

Authored by Bill Bonner via InternationalMan.com,

What you see in the media is mostly “fake news.”

Reuters had this story recently:

Most Federal Reserve policymakers think the central bank should take steps to begin trimming its $4.5 trillion balance sheet later this year as long as the economic data holds up, minutes from their last meeting showed…