Posts Tagged ‘bernanke

09
Oct
13

Janet Yellen: Federal Reserve Chair

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President Barack Obama announces his nomination of economist Janet Yellen as Federal Reserve chairman as current chairman Ben Bernanke listens in the State Dining Room of the White House

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President Barack Obama listens as Janet Yellen, vice chair of the Board of Governors of the Federal Reserve System, speaks

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President Barack Obama stands with outgoing Federal Reserve Chairman Ben Bernanke and Janet Yellen, vice chair of the Board of Governors of the Federal Reserve System

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President Barack Obama announces his nomination of Janet Yellen to head the Federal Reserve at the White House

Continue reading ‘Janet Yellen: Federal Reserve Chair’

19
Sep
13

Rise and Shine

On This Day: President Barack Obama and First Lady Michelle Obama greet the family of Senior Master Sergeant Roland Paramore (not pictured) aboard Air Force One prior to departure en route to New York, Sept. 19, 2011(Pete Souza)

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Today (All Times Eastern):

10:45 House Minority Leader Nancy Pelosi holds her weekly briefing with members of the press (C-Span)

11:0: The President delivers remarks at a meeting of his Export Council, Eisenhower Executive Office Building

1:0: Press Briefing by Press Secretary Jay Carney

4:25: The President attends a DNC event, Capital Hilton Hotel (Closed Press)

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Esquire: Aliens in Their Own Nation

For the Republican Party, what began as a tactic — vilification of its opponents — became a habit that became a conviction. Its anger and distrust have become the dominant political fact of our time.

We have a problem with our Republicans. They don’t much want to govern anymore, and we can’t govern without them. This has been a long time coming, but at some point in recent years, America’s Republicans, especially elected officials but also a large part of the rank and file, stopped seeing Democrats and many other Americans as their political opponents and started viewing them instead as the enemy, a nemesis bent on destroying the country.

Certainly a significant factor underlying this phenomenon is white insecurity in a changing world, especially in the old Confederacy, in which the 21st-century Republican party has bunkered itself. But whatever the reason, given the symbiosis between the only two political parties we have allowed ourselves, this extremism endangers the governing arrangement that has held for the last century or so — and by and large worked spectacularly well…

More here

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Jamelle Bouie: The Obamacare Swindle (It’s Not What You Think)

Health-care reform isn’t going anywhere. But that hasn’t stopped Republicans from using it to raise money from gullible Tea Partiers who want it defunded.

House Republican leadership does not want a government shutdown over Obamacare, but the agitation of conservative activists might make one inevitable.

….. Conservatives must know they have nothing to gain politically from taking this stance, which raises the question: why do it? One answer, as suggested by the National Review’s Robert Costa in August, is money. Tea party organizations, he writes, “aren’t worried about the establishment’s ire. In fact, they welcome it. Business has boomed since the push to defund Obamacare caught on. Conservative activists are lighting up social media, donations are pouring in, and e-mail lists are growing.”

More here

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Carol E. Lee: Obama Administration Weighs Iran Talks At U.N.

The Obama administration is preparing for high-level meetings next week with the Iranian government on its nuclear ambitions and is open to a direct exchange between President Barack Obama and Iran’s new president, Hasan Rouhani, at the United Nations, according to senior U.S. officials.

The recent softening between Washington and Tehran gained new momentum with the release by Iran in recent days of 11 political prisoners, including a prominent human-rights lawyer freed on Wednesday. The releases were seen as a signal to Washington of a desire for better relations on the eve of Mr. Rouhani’s first visit as president to the annual gathering of world leaders at the U.N. General Assembly.

More here

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Greg Sargent: If We Get A Debt Ceiling Crisis, It’s Because Republican Voters Want One

If we are going to have a debt ceiling and default crisis — with all of the havoc it may well entail — it may well be because Republican voters want such a crisis, even if it causes serious economic harm. No, really. That’s what a new poll shows. The new Washington Post/ABC News poll on the debt ceiling tells us something remarkable: Among Republicans who believe that not raising the debt ceiling would cause serious harm to the economy, a majority of them wants Congress not to raise it anyway. By contrast, Americans overall see it in the opposite way.

Meanwhile, the poll also finds that 73 percent think not raising the debt limit would “cause serious harm to the U.S. economy,” versus only 22 percent who say it wouldn’t. How to explain the divergence? It turns out it’s largely driven by Republicans. By contrast, among Americans overall who say not raising it would cause serious harm, they tilt in favor of raising it by 54-35. Independents who say not raising it would cause serious harm also tilt in favor of raising it by 58-36.

More here

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Steve Benen: Bernanke Stuns With Ongoing Stimulus

One of the day’s biggest stories was also one of the day’s most pleasant surprises. The Federal Reserve postponed any retreat from its long-running stimulus campaign Wednesday, saying that it would continue to buy $85 billion a month in bonds to encourage job creation and economic growth. […]

But let’s not overlook why Bernanke came to this conclusion. There were, of course, multiple factors, but The Hill reported, “The Fed said one of the primary reasons for the decision was the fiscal fight in Washington, which it said is ‘restraining economic growth.'” The political world tends to ignore this for reasons I find endlessly frustrating, but the chairman of the Federal Reserve has repeatedly told Congress, in fairly explicit terms, that Republicans are hurting the economy. Bernanke has drawn direct, unambiguous connections between weak economic growth and the specific policies pursued by Republican lawmakers.

GOP officials ignore Bernanke because he tells them what they don’t want to hear, and many in the media ignore his assessments because Americans aren’t supposed to hear about Republican responsibility for the struggling economy.

More here

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Greg Sargent: The Conservative Alternative To ObamaCare Isn’t An Alternative To ObamaCare

So House conservatives are planning to roll out their long awaited alternative to Obamacare, some three years after they first promised to do so — and after more than three dozen votes to repeal it. The conservative alternative wouldn’t do nothing at all.

“Individuals who purchase coverage approved for sale in their state could claim a deduction of $7,500 against their income and payroll taxes, regardless of the cost of the insurance. Families could deduct $20,000.” The trouble with this, Leavitt says, is that deductions disproportionately benefit the rich. By contrast, Levitt notes, Obamacare gives low income folks subsidies in the form of tax credits, which disproportionately benefit the poor.

More here

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I love the smell of GOP infighting in the morning

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Brian Beutler: GOP Deludes Itself On Shutdown Threat

it’s easier to remember that what we’re hearing on the right is the din of 275 Republicans and thousands of movement conservatives caterwauling at each other. It’s a fascinating story. It’s genuinely newsworthy that John Boehner and company were cowed into giving Ted Cruz and his boosters on the right a vote on the doomed strategy they’ve been demanding. Assuming the defund Obamacare bill passes the House — not a given! — it’ll be extremely revealing to watch Senate Republicans figure out what to do with it, and hear what they say when it inevitably fails.

More here

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On This Day:

President Barack Obama and Burmese Opposition Leader Aung San Suu Kyi pet Bo at the conclusion of their meeting in the Oval Office, Sept. 19, 2012. Danny Russel, Senior Director for Asian Affairs, and Secretary of State Hillary Rodham Clinton watch at left (Pete Souza)

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First Lady Michelle Obama speaks to a crowd of over 6000 at Minges Coliseum on the East Carolina University campus, Sept 19, 2012

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First Lady Michelle Obama greets students from the East Durham Children’s Initiative upon arrival at Raleigh-Durham Airport in Morrisville, N.C., Sept. 19, 2012 (Photo by Sonya N. Hebert)

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06
Sep
11

‘hoffa and the fainting couch’

Steve Benen: It appears that one of the day’s biggest political stories yesterday, at least on the right, had to do with a Labor Day speech Teamsters President James Hoffa Jr. delivered in Detroit. This has “manufactured outrage” written all over it ….

….here’s the context of the quote: “Everybody here’s got to vote. If we go back and keep the eye on the prize, let’s take these son of a bitches out and give America back to America where we belong! Thank you very much!”

In other words, he was talking about voting. This was not a call to violence – Hoffa wants to take the far-right politicians out of office, not out of existence.

… A paid CNN analyst said that if President Obama “doesn’t condemn” the comments, “he is sanctioning violence.” This is all pretty silly. If the right is comfortable with Rick Perry’s comments about Ben Bernanke, and Sarah Palin’s “reload” cliche, and Mitt Romney talking about “hanging” Obama, I think conservatives can probably stop clutching the pearls over Hoffa’s line about voting.

Full post here

19
Aug
11

“i’m from bank of america and we’ll help you out”

Business Insider: After all the speculation that Rick Perry’s threats against Fed Chairman Ben Bernanke would hurt his relationship with Wall Street, at least one banker is pledging his company’s support.

WGIR New Hampshire Radio’s Paul Westcott captures this clip of an unknown individual telling the Texas governor at a “Politics & Eggs” event in New Hampshire: “I’m from Bank of America and we’ll help you out.”

UPDATE: ZeroHedge identifies the Bank of America official as James Mahoney the Director of Public Policy for the bank. Mahoney is a member of the board of directors of The New England Council, one of the events sponsors.

It’s worth noting again that Perry threatened Fed Chairman Ben Bernanke, and said any attempt by the Fed to print more money would be “almost…treasonous.”

UPDATE 2: Mahoney is not registered as a lobbyist, and a BofA spokesman tells POLITICO he works on policy …. Spokesman Lawrence Di Rita: “Bank of America does not endorse Presidential candidates. The reference was about following up on the substance of the speech about job creation and economic growth. Discussing policy issues that affect our company and our customers is something we do with policymakers of both parties routinely at the local, state, and Federal levels.”

ZeroHedge: Should we be surprised, frightened, disgusted or simply say “we knew it” …. At least we know now who is funding what, and whose interests potential future president Perry will be paid to defend.

Thank you Fred

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19
Aug
11

they’re eating each other alive ;-)

CNN: Former Treasury official Bruce Bartlett labeled newly-minted Republican presidential candidate Rick Perry “an idiot” Friday.

Bartlett, who served at Treasury under former President George H.W. Bush and as a domestic policy adviser to the late President Ronald Reagan, delivered the choice words to the Texas Gov. in reference to his recent comments about Federal Reserve Chairman Ben Bernanke.

…Team Perry did not immediately respond for a request for comment.

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