Federal Reserve Announces Quarterpoint Rate Hike

[rmstock]

Federal Reserve Chair Janet Yellen News Conference
by rmstock , Published on Jun 16, 2017
https://www.youtube.com/watch?v=Xc5BMf9uh6I
  "Federal Reserve Chair Janet Yellen News Conference
   JUNE 14, 2017
   https://www.c-span.org/video/?429872-...
   Federal Reserve Chair Janet Yellen announced an increase in the
   short-term interest rate by a quarter-point. This marks the second rate
   hike by the Federal Reserve in 2017. In addition, Chair Yellen said
   inflation had declined in the last few months but that she expects it
   to stabilize around two percent over the upcoming few years. The
   central bank also announced plans to start gradually reducing its bond
   holdings later in 2017."

[rmstock]

[pdf]http://populardemocracy.org/sites/default/files/Rethink%202%25%20letter.pdf[/pdf]
http://populardemocracy.org/sites/default/files/Rethink%202%25%20letter.pdf

06/8/2017   | BUILDING A NATIONAL CAMPAIGN FOR A STRONG ECONOMY: FED UP
Prominent Economists Question Fed Inflation Target
http://populardemocracy.org/news-and-publications/prominent-economists-question-fed-inflation-target

06/15/2017
Fed Up Claims Victory: Yellen Commits To Reconsidering 2% Inflation Target
Days after economists' letter to Fed, Yellen says inflation target one of most important questions
https://populardemocracy.org/news-and-publications/fed-claims-victory-yellen-commits-reconsidering-2-inflation-target

  "06.15.17
   
   NEW YORK – During a press conference after the Federal Market Open
   Committee announcement on Wednesday, Fed Chair Janet Yellen said that
   the Federal Reserve "will be reconsidering at some future time" its 2%
   inflation target.
   
   Her comments come a few days after the Fed Up campaign organized and
   released a letter signed by 22 prominent economists calling on the
   Federal Reserve to reconsider its inflation target in order to protect
   the economy from future recessions and promote genuine full employment.
   
   In response to a question from a journalist asking whether the Fed
   would reconsider the inflation target in response to the letter, Yellen
   said, "I would say that this is one of the most important questions
   facing monetary policy around the world in the future. We very much
   look forward to seeing research by economists that will help inform our
   future decisions on this."
   
   Chair Yellen's commitment to reevaluating the inflation target are a
   departure from Yellen's previous stated position defending it.
   Responding to Yellen's about-face, Fed Up Campaign Co-Director Shawn
   Sebastian, said, "Janet Yellen committing the Fed to reconsidering its
   outdated and harmful 2% inflation target is a significant, and needed,
   step in the right direction."
   
   "We congratulate the 22 economists who signed an open letter last week
   urging the Federal Reserve to do this. Yesterday's comments by Chair
   Yellen are evidence of the impact of their voices. Yellen correctly
   emphasized that it is important for the Fed's decisions to 'be informed
   by a wide range of views and research, which is ongoing inside and
   outside the Fed.' With that commitment from the Chair in mind, we urge
   the Federal Reserve to adopt an official, open, transparent, and
   accessible process for conducting this reevaluation of the inflation
   target. Doing so will enhance the institution's credibility with the
   American people and the quality of its monetary policy for years to
   come."
   
   ###
   
   www.thepeoplesfed.org
   
   Fed Up is a coalition of community organizations, labor unions, and
   policy experts across the country calling on the Federal Reserve to
   reform its governance and adopt policies that build a strong economy
   for the American public. By keeping interest rates low and prioritizing
   genuine full employment, the Fed gives the economy a fair chance to
   recover and allows wages to grow across all communities
   
   Contact:
   Anita Jain, ajain@populardemocracy.org, 347-636-9761  "

[Astrangerinmyownland]

Jews about to pop all the debt bubbles and blame it on Trump...

[rmstock]

During the news conference Yellen was asked about the letter by 22 disconcerted
prominent economists, where the next day victory was claimed as Yellen was open
to discuss possibilties to adjust the desired inflation rate from 2% to 3%.
See above : "Fed Up Claims Victory: Yellen Commits To Reconsidering 2% Inflation Target"

However which Fed Up are we talking about here ? Then it dawned on me,
after Greg Hunter had interviewed Danielle DiMartino Booth, "[who]
spent nine years as an adviser to Richard Fisher at the Federal Reserve
Bank of Dallas" :

Danielle DiMartino Booth – Gold Could Take Off Like a Hockey Stick
by Greg Hunter , Published on Jun 20, 2017
https://www.youtube.com/watch?v=DWhdx28vD-I

Its all about that damned book! which the Fed surely  don't want you to know about.
Here's the explosive materials :


Fed Up: An Insider's Take on Why the Federal Reserve is Bad for America
by Danielle DiMartino Booth

Hardcover: 336 pages
Publisher: Portfolio (February 14, 2017)
Language: English
ISBN-10: 0735211655
ISBN-13: 978-0735211650
Product Dimensions: 6.3 x 1.3 x 9.3 inches
Shipping Weight: 1.2 pounds
https://www.amazon.com/Fed-Up-Insiders-Willful-Ignorance/dp/0735211655

a review :

This is a terrific book. I have managed investments for more than ...
By Gary Harbaughon May 23, 2017
Format: Hardcover|Verified Purchase
"This is a terrific book. I have managed investments for more than 40
  years so I have observed the Fed and taken note of its actions for a
  long time. This book pulls back the curtain and lets us see how the
  unelected and unaccountable people inside this opaque and mysterious
  institution (who think they are the wizards of smart) actually come up
  with the monetary policies that have so damaged our economy and the
  typical people who live and work and raise families across America.
  I learned more in a few hours from this book than in decades tracking
  M2 growth, watching from the outside, reading the Fed's public
  pronouncements, and making note of the public speeches of the Fed
  Chairmen (and Chairwoman) and other members of the Federal Open Market
  Committee.
  There is no substitute for this insider's view. Danielle DiMartino
  Booth was the right person in the right place at the right time and
  with the right temperament and the right talents to get an opportunity
  to work her way into the inner sanctum of the temple of the high
  priests of government monetary policy while remaining in mind and heart
  and spirit an outsider. She had a unique role as an advisor to the
  President of the Dallas Fed without being an egghead PhD economist ,
  but a mom (with two master's degrees) who had known good times and bad,
  and who had, and has, an abundance of common sense. Besides that, she
  can write and tell a story.
  This book covers her time at the Fed from late in 2006 until her
  departure in 2015 and beyond. This book will be a challenging read
  if you know nothing about finance and banking. Read it anyway. You will
  learn a lot. If you have some knowledge of finance and banking, this
  book will give you new insights.
  You will learn how the game is rigged. The Fed is not really
  independent. It has no interest in creating a level playing field for
  financial firms and it is totally incompetent at one of its main jobs,
  supervision and regulation of the biggest financial firms.
  In the final few pages of this hard-to-put-down book, the author makes
  a number of recommendations for reform. I disagree on a number of them;
  however, they are all things that should be on the table for
  discussion. The best antidote for groupthink is an open debate. Read
  this book and prepare yourself to join in! "