Janet Yellen

  • 20 Mar 2014 at 6:10 PM

Janet Yellen Era Off To A Rough Start

The new Fed chair needs a bit more practice to perfect Ben Bernanke’s somnolescent, market-soothing vocal timbre, as the Beard’s brief Era of Good Feelings fails to survive him by even one meeting. 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 »

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 »

Today Is The Last Day Of The Ben Bernanke Era

And what fun it’s been, even if we don’t remember it quite as fondly as the go-go days of Alan Greenspan. And since we’ll be without a Fed chairman or -woman this weekend, you’ll have plenty of time to reflect on the bearded sage and his place in history, perhaps with whiskey and a Miller High Life chaser. Read more »

Senate Republicans have agreed to let Janet Yellen become Federal Reserve chairman in exchange for Harry Reid not making them work the weekend before Christmas. Read more »

  • 21 Nov 2013 at 5:03 PM

The Janet Yellen Era Is Nigh

Not that she needed the help, but there will be no filibuster to keep the “man”—actually to exclude a “wo”—in Federal Reserve chairman. Read more »