Janet Yellen

Because if there is, there’s not a hell of a lot she can do about it. Read more »

The Wall Street Journal reports that Hillandale residents have a lot of complaints about the Fed Chair’s secret service team (their guns, their security cameras, their trucks, the fluid said trucks apparently spill onto the street), but chief among them appear to be their corpulence. Read more »

  • 23 May 2014 at 9:30 AM

Mysterious Woman Tells NYU Kids About Central Banking

Standing at the podium at Yankee Stadium for NYU’s commencement Wednesday, Janet Yellen was inspired. Not by the 27 championships and history of greatness and fantastic, unceasing ability to print money, which is, by right, her job. Instead, the first woman to head a major central bank looked at the 66% of the time Babe Ruth and Lou Gehrig didn’t get a hit, to ignominious choke-jobs in decade-old playoff series, perhaps even to the travails on Steve Cohen’s new drinking buddy, dug deep, and told the 22 year-olds to get ready for failure. Read more »

Today, we learned two things about Mt. Gox CEO Mark Karpelès: He owns a suit and is, in fact, still in Japan, where he made a quick trip to Tokyo District court to place his collapsed bitcoin exchange into bankruptcy, after hackers made off with half a billion dollars worth of fake money.

Bitcoin exchange Mt. Gox said Friday it was filing for bankruptcy protection after losing almost 750,000 of its customers’ bitcoins, marking the collapse of a marketplace that once dominated trading in the virtual currency.

The company said it also lost around 100,000 of its own bitcoins. Together, the lost bitcoins would be worth approximately $473 million at market prices charted by the CoinDesk bitcoin index, although the price of Mt. Gox bitcoin had fallen well below that index after it stopped bitcoin withdrawals in early February….

“There was some weakness in the system, and the bitcoins have disappeared. I apologize for causing trouble,” Mr. Karpelès said during a packed news conference at the Tokyo District Court press club.

The company’s lawyer said at the news conference that Mt. Gox had outstanding debt of about ¥6.5 billion ($63.6 million) with assets worth ¥3.84 billion.

Karpelès said that “reducing the impact” of his firm’s failure “is the most important point.” That, however, may no longer be possible. Read more »

  • 27 Feb 2014 at 3:44 PM

Janet Yellen Has Noticed The Cold

That’s why U.S. job numbers and everything else look so… underwhelming. Also, why she’s going to keep tapering as though things weren’t. Read more »

  • 21 Feb 2014 at 1:06 PM

What The Hell Were They Thinking?: Fed 2008 Edition

They were thinking things looked A-OK. For a while…. Read more »

Ben Bernanke is at the Brookings Institution and Janet Yellen is in charge at the Fed. And, if Richmond Fed President Jeffrey Lacker is to be believed, it doesn’t matter at all. Read more »