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Hedge fund zillionaire Paul Singer is super-mad at the Federal Reserve and Fed Chairman Ben Bernanke over inflation they have not yet quite unleashed.
Showing posts with label Ben Bernanke. Show all posts
Showing posts with label Ben Bernanke. Show all posts
5/9/13
9/12/12
Goldman's QE3 Shopping List: Stocks For When Bernanke Starts Buying Bonds
Opinions are still somewhat split on just what the Federal Reserve will decide to do at a two-day meeting that wraps up Thursday, but the general consensus seems to be that Chairman Ben Bernanke and his colleagues will announce a third round of asset purchases.
9/6/12
Bernanke's Plain Vanilla Portfolio Worth At Most $2.3M While Other Fed Officials Hold Gold And Uranium
MAKE MONEY BLOG$~For one of the few men holding the monetary reigns of the world, Federal Reserve Chairman Ben Bernanke is a very basic investor. In a disclosure for 2011 released on Thursday
9/1/12
Bernanke On The Offensive: QE Added More Than 2 Million Jobs, Pushed Up GDP By 3%
MAKE MONEY BLOG$~It has been an obsession of anyone who follows financial markets to
try to figure out what is going on inside the Fed Chairman’s head. On
Friday, Ben Bernanke
was very explicit about what he calls unconventional monetary policy
(and we call QE), breaking down exactly how it works and how effective
it’s been. At the end of the day, said the bearded academic, two rounds
of quantitative easing helped the economy add more than two million
jobs and pushed real GDP up by almost 3%.
8/26/12
Bernanke Letter Gives Stocks A Lift To Close Rocky Week
The market made a U-turn Friday, with morning losses becoming gains thanks to Federal Reserve Chairman Ben Bernanke.
8/8/12
Mutiny In The Fed? Yeah Right, Bernanke Firmly In Control!!
MAKE MONEY BLOG$~With the Federal Reserve, and Chairman Ben Bernanke, under intense media scrutiny, amid unprecedented and unorthodox monetary stimulus and a coming presidential election, it may seem weird that two Fed
8/1/12
Bernanke Fed Tosses Hot Potato To Draghi's ECB
MAKE MONEY BLOG$~The Federal Reserve decided to sit on its hands on Wednesday, yielding the floor toMario Draghi and the ECB.
7/18/12
Bernanke Says Fed Has Plenty Of Options, Doesn't Signal When He'll Use Them
MAKE MONEY BLOG$~In Tuesday’s Forbes Markets Desk video, I discuss a big day for earnings and Ben Bernanke’s latest grilling on Capitol Hill:
7/10/12
Don't Count On The Next QE Helping Much?
MAKE MPNEY BLOG$~On CNBC yesterday a portfolio manager talking about his book said that since the Bernanke Put is alive and well, he is remaining long-term bullish. He is not alone.
7/4/12
Early July Monetary Notes
MAKE MONEY BLOG$~I am taking a bit of down time but wanted to comment on a few things I couldn’t help taking notice of.
6/19/12
Bernanke Fed Will Probably Twist This Week, But Don't Be So Sure of It?
MAKE MONEY BLOG$~The end of Operation Twist is near, and market expectations are high and rising that Fed Chairman Ben Bernankeand the FOMC will extend the program beyond June, delivering further, yet limited, monetary easing.
6/7/12
Bernanke's Disappointing Testimony?
Here are two views on Bernanke’s testimony, one from me and one from my colleague Tim Duy. First, my view:
5/18/12
No Hassle For Bernanke: New Fed Governors Won't Limit The Chairman?
MAKE MONEY BLOG$~The Senate approved the appointment of two new Federal Reserve Board governors on Thursday. Jeremy Stein and Jerome Powell, nominated by the Obama Administration, will probably ensure the continuity of monetary policy, according to Nomura, as both academics are expected to vote in line with the Chairman on key issues.
5/6/12
Einhorn Taps Homer Simpson To Blast Bernanke's 'Jelly Donut Policy'?
Zero interest rates may have a necessary and useful place in a crisis, but the U.S. is well past the point at which that logic holds, and the Federal Reserve’s stubborn maintenance of its current policy isn’t just not helpful, it’s hurtful.
4/26/12
Bernanke: Sacrificing Price Stability For A Few Jobs Would Be 'Reckless'!
MAKE MONEY BLOG$~In his post-FOMC press conference, Fed Chairman Ben Bernankeengaged in some fence-sitting, maintaining that QE3 “remain[s] very much on the table,”
4/18/12
Bernanke And The Lender-Of-Last-Resort At 100?
MAKE MONEY BLOG~In case you didn’t realize it, we are bearing down on 2013– the 100th anniversary of the Federal Reserve Bank. Whether Bernanke will continue to be at the Fed’s helm– a matter subject to the winner of the White House sweepstakes, as well as his own designs– will impact financial markets.
4/15/12
Bernanke On Why Subprime Turned Out Worse Than The Dot-Com Bubble
MAKE MONEY BLOG$ ~ Federal Reserve Chairman Ben Bernanke addressed a crowd of economists, finance professionals and media at New York‘s Princeton Club Friday afternoon, reflecting once again on the causes of, and response to, the 2008 financial crisis.
4/8/12
Weak Jobs Report Puts QE3-Pressure Back On Bernanke?
MAKE MOMEY BLOG~Friday’s jobs report definitely put a cap on market enthusiasm, suggesting the recovery remains tepid. Non-farm payrolls (NFP) added 120,000 jobs in March, well below the 200,000+ recorded over the last three months, indicating seasonal improvements (including warmer weather) , rather than a new phase of stronger job growth, underpins recent labor market strength.
While U.S. equity markets were closed for Good Friday, futures tanked; Dow futures indicate a 142 point decline which would send the index back to 13,000 points. Underlying softness will definitely lead to renewed discussion about monetary accommodation and the possibility of Fed Chairman Ben Bernanke unleashing a third round of quantitative easing, or QE3.
In what Nomura’s analysts called a “very disappointing report,” the Bureau of Labor Statistics announced meager job creation in March after what had been above-trend reports over the last couple of months. Market expectations were high, with consensus calls for a 205,000 rise to NFPs, but the economy disappointed.
Adding only 120,000 jobs in March means the unemployment rate ticked down to 8.2%, but all of that was due to a decline in the labor force participation rate, which remains stuck near record lows at 63.6%. The total number of unemployed totals 12.7 million, while those without a job for 27 weeks or more (“long-term unemployment”) make up 42.5% of the labor force. As Bernanke has repeatedly said, long-bouts of joblessness leads to structural unemployment as skills erode and potential workers fall further out of workforce.
Another troubling sign is the high number of workers that are “marginally attached to the labor force,” or those that haven’t looked for a job in the last 4 weeks but are willing and able to work. That number stays at a very elevated 2.4 million.
March NFPs missed expectations by a wide mark, suggesting market players and economists were over-optimistic about the economic environment. On the one hand, Nomura’s analysts suggest that “some payback from three strong months fueled by good weather might have had a significant negative impact.” But the 120,000 jobs added in March were still way off.
Construction jobs, for example, fell 7,000 over March. The ailing construction sector, which is very sensitive to the weather, is a further indication of the depressed state of housing markets. With home-prices continuing to fall down the rabbit hole (Case-Shiller home price indices continue to hit new lows), one can’t expect the housing market to stop pulling the economy down any time soon (despite the impressive stock price performance of Lennar and KB Home decent move in 2012).
Retail weakness is also troubling, where the economy shed 34,000 jobs in March after a 29,000 loss in February. Retail sales were actually up over the last couple of months, with firms like Target and Gaplooking solid, as Forbes’ Steve Schaefer pointed out.
Equity markets have rallied strongly this year as economic data began to look more promising. Much of the optimism that has been priced in appears to be misplaced, as Jim Baird of Plante Moran Financial Advisors explains:
[Friday's] result is also an indication that the recent uptick in the pace of job creation may have been illusory. While the markets were encouraged by the recently stronger pace of job growth, the actual rate of job creation may not have quickened to the degree that the data suggests.Healthy skepticism persists about the calculation of seasonal adjustments, which is intended to help paint a more accurate picture of the real trend. In recent months, concerns had been raised that seasonal adjustments had been overstating reported job creation. Today’s report suggests those concerns may have been legitimate.
Risk assets tanked over the last couple of weeks on the assumption that Bernanke and the Fed wouldn’t continue to add monetary stimulus, with gold among the biggest losers. The latest FOMC statement, coupled with the minutes from that meeting, were interpreted as an acknowledgement of the improved economic situation, which in turn took QE3 off the table for now.
Friday’s weak report forces the discussion to gravitate back to a more QE3-prone environment. While the weak number alone isn’t enough to force the Fed into action in the upcoming April 24-25 FOMC meeting, as Barclays’ analysts argue, “the soft employment numbers certainly leave the door open for further accommodation and may shift the decision point to the June FOMC as the Fed continues to monitor the incoming data.”
source: forbes.com
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3/21/12
What Gold Sees, and Ben Bernanke Does Not?
By Jerry Bowyer
Last August I wrote a short series for Forbes.com on valuation techniques for gold, (Some Thoughts For The Gold Bulls, The Case Against Buying Gold, and At $1,850/Ounce, Does Gold Still Glitter?) .
Bernanke Says U.S. Banks Can Survive EU Worst Case Scenario!!
U.S. banks with capital at risk in Europe can survive a worsening economic outlook there, and even a recession at home, Fed Chairman Ben Bernanke said on Capitol Hill on Wednesday.
