Fed

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Why What The Fed’s Doing is Inflationary

Why, Bernanke’s denials notwithstanding, the Fed’s “Quantitative Easing” is definitely inflationary “money printing”.

6Dec2010 | | 0 comments | Continued
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QE2 Shows The Fed Has Failed; Has No Credibility

by Aaron Krowne ML-Implode.com founder How soon we forget. There has been a lot of good commentary on the Fed’s latest round in its programme of “quantitative easing” (or “QE”), announced Tuesday, for $600 billion in additional bond buying (or is it $900 billion?) But it all seems to have missed the most important point: […]

4Nov2010 | | 1 comment | Continued
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Kokesh: Rein in The Fed

The Federal Reserve is currently mandated to conduct monetary policy to maintain price stability and ensure full employment. It also regulates the largest financial institutions. By the basic principles of good government, if a program is not meeting its stated goals, it should be altered or abolished.

11May2010 | | 3 comments | Continued
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Effect of Fed’s MBS Exit On Mortgage Rates Unknown

In a doomsday scenario, and it is possible, demand for MBS will be so low and prices will plummet so far, 30 year fixed mortgage rates will be driven up into the mid 6’s in a matter of days. If that happens, the Fed will likely begin buying mortgage-backed securities again and over a period of time drive rates back down.

25Feb2010 | | 1 comment | Continued
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Today’s Mortgage Rates Steady Below 5 Following Fed “Text”

Prices of mortgage-backed securities declined for the second day in a row today. Mortgage rates, which move opposite mortgage-backed securities prices, were unchanged. Pricing though, which effects closing costs, worsened this afternoon. In other words whatever it may have cost you to secure a 4.75% 30 year fixed mortgage yesterday, it’ll cost just a little more to get that same rate today.

10Feb2010 | | 0 comments | Continued
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Predatory Deception Falsifies New York Times Editorial on Mortgage Brokers

You have called for yield spread to be outlawed in the same editorial where you described it as “totally justified”. You have argued against “high-priced” loans, but your policy would have the effect of requiring that all brokered loans be high-cost mortgages paid with points.

10Feb2010 | | 28 comments | Continued
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The Fed Is Too Powerful To Be Unaccountable

The popularity of US Rep. Ron Paul’s bill to audit the Fed taps into a great pent-up frustration about the unaccountability of the very powerful institution. Independent socialist Bernie Sanders of Vermont is the senate sponsor. While Dr. Paul wants to go as far as getting rid of the Fed, he wisely offered an opportunity for us to learn more and make a more informed decision.

12Jan2010 | | 3 comments | Continued