Welcome to The Now

  The White House wants interest rates lowered, as soon and as low as possible . Federal Reserve Chairman, Jerome Powell, doesn't look like he's going to budge . Enter the Federal Reserve's renovation project for their headquarters, which by accounts is self-funded . Word is that President Trump is trying to use the renovation ( the argument being it's gone overbudget ) as an excuse to kick Powell out before he retires from the position. The Fed has historically tried to stay away from the politics of the moment, but Trump has never met an institution that he didn't want to make bend to his will, and the idea of having the country's central banking system at his beck and call is too tempting of a prospect to pass up. 

 

People with enough money to buy everything they want don't understand people who barely have enough money to buy everything they need .

Here we go . Fed Chairman Ben Bernanke has said in recent weeks that economic weakness is likely to continue into next year, despite rate cuts and other recent moves taken by the Fed and Treasury Department to try and fix the credit crisis. On Monday, Bernanke pushed Congress to consider a new stimulus plan to spur the economy. "Everyone at the Fed has pretty much told you they're going to cut," said Rich Yamarone, director of economic research at Argus Research. "They're in a kitchen sink mode right now. Rate cuts, fiscal stimulus, bailouts - they're throwing everything they can at this right now." What's the over/under for Bernanke's next gimmick being an old fashioned lemonade stand? Or a massive car wash? Or a giant raffle to see Davy Jones perform his greatest hits?

Yeah the economy is going in the tank, but why can't we have a little fun with it ?

It's a start , I guess. WASHINGTON — The Treasury Department will propose on Monday that Congress give the Federal Reserve broad new authority to oversee financial market stability, in effect allowing it to send SWAT teams into any corner of the industry or any institution that might pose a risk to the overall system. The proposal is part of a sweeping blueprint to overhaul the nation’s hodgepodge of financial regulatory agencies, which many experts say failed to recognize rampant excesses in mortgage lending until after they set off what is now the worst financial calamity in decades. Democratic lawmakers are all but certain to say the proposal does not go far enough in restricting the kinds of practices that caused the financial crisis. Many of the proposals, like those that would consolidate regulatory agencies, have nothing to do with the turmoil in financial markets. And some of the proposals could actually reduce regulation. Can't say I'm surprised; since Reagan, redu...

Just kidding; it isn't : A day after an interest rate cut fueled the best stock session in five years, the Dow Jones industrials slid back nearly 300 points on Wednesday and commodity prices plummeted, signs that a sense of unease has yet to disappear from financial markets. The Dow lost most of its Tuesday gains as a morning rally gave way to afternoon declines, closing down 293 points at 12,099.66. The Standard & Poor’s 500-stock index, the broadest measure of the American stock market, and the Nasdaq composite index both fell back about 2.5 percent. Though investors had cheered the Federal Reserve’s move on Tuesday to lower interest rates, many remained unsure whether the central bank’s actions would effectively ease the credit crisis that has gripped the market for months. “I’m not quite sure people are all that ready to stick with their convictions,” said Bart Melek, a commodity strategist at BMO Capital Markets in Toronto. “We’re not quite sure what other skeletons exist ...