Janet Yellen. Number two at the Fed. She wants to double down and keep those Fed lending rates low for the big banks for as far as the eye can see.
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Janet Yellen. Number two at the Fed. That is one hot babe! And I know I speak for everybody on Wall Street.
You have all these people criticizing the Fed for extending abnormally low interest rates to the big banks for so many years now. That provides the flow we need to speculate on exotic financial instruments. And, really, isn’t that what the Fed is for?
While we are benefiting greatly, this policy also means that the middle class maybe getting squeezed a little, the senior citizens living on fixed incomes perhaps have to tighten their belts a little bit, and savers, well—they are getting crushed.
But you make an omelet, some eggs get broken.
Now there are a few wussies on the Fed that want to rethink this policy.
But not Janet Yellen. She wants to double down and keep those rates low for the big banks for as far as the eye can see.
You go girl.
You see, keeping rates artificially low to the big banks does not mean that rates are artificially low for the hoi polloi. Have you seen the rates that banks are charging to small businesses, or the rates and fees that consumers are being stuck with? It is not anywhere near what the Fed is charging the banks.
In fact, the big banks are getting paid by the Fed to hold on to money lent to them …by the Fed! Easy money. And when they do lend out the money, it is at ten, fifteen, twenty percent! Nice returns on free Fed funds if you are a Wall Street banker. And if you are not, too bad for you small business! Grow up and get a pair!
That is why I say Janet Yellen is one hot babe. And as long as Yellen is out front, we’ll be jellin like a felon.