Weird that San Francisco has the entire West Coast. It seems like a new Pacific Northwest bank should be created to better spread the load (Minneapolis is currently the smallest one, maybe that one could move to Seattle?):
It isn't. I would read up on how the Fed was created. The choice of cities was political (that is why Missouri has two, iirc) and related to the situation in 1913 when the Fed was created (in particular, the cyclical demand for money from agriculture).
Now, it makes almost no sense to move them. After 1935, the Banks have had fairly limited power.
Reorganization of the Fed. Most importantly: Board of Governors created in Washington. Combined with the exigencies of WW2, this basically finished Reserve Bank power. And this structure did worsen the Great Depression (Reserve Banks acted independently and wouldn't participate in market operations).
It would be nice if they provided some exploratory data for these reports, such as a notebook that people could use to see the actual data that they're looking at.
I've always felt like these government agencies are continuously moving the goal posts around so that everything appears like they're doing a good job so everyone can keep collecting their paycheque and government benefits. I don't want to read a massive wall of text, I'd rather see charts that show what's really going on.
That's not really the point of the book, though (emphasis mine):
"Each Federal Reserve Bank gathers anecdotal information on current economic conditions in its District through reports from Bank and Branch directors and interviews with key business contacts, economists, market experts, and other sources." [1]
If you want charts and analysis, find yourself some data/market color providers in the finance industry. Additionally, most finance professionals that need to know about this stuff keep an eye on the economic calendar [2] to see the info in real time as news breaks, because the market reacts immediately.
> I've always felt like these government agencies...
Make no mistake--the Federal Reserve is not a government agency. It is a Central Bank, organized by a consortium of bankers to control the money supply of the United States and, by effect, the world. Episode 201 of the fantastic podcast Congressional Dish[0] really gets into the nuts-and-bolts of what the Federal Reserve is, how it was created, and what it does.
To some extent you´re right, the people involved are under a lot of political pressure to only publish the favourable stuff (although the occasional cry for help can sometimes be discerned from the footnotes), but the data is there. As are the reports. The real trouble is nobody seems to be reading them.
> On balance, reports from Federal Reserve Districts suggested that the economy expanded at a modest pace through the end of August. Although concerns regarding tariffs and trade policy uncertainty continued, the majority of businesses remained optimistic about the near-term outlook. Reports on consumer spending were mixed, although auto sales for most Districts grew at a modest pace. Tourism activity since the previous report remained solid in most reporting Districts. On balance, transportation activity softened, which some reporting Districts attributed to slowing global demand and heightened trade tensions. Home sales remained constrained in the majority of Districts due primarily to low inventory levels, and new home construction activity remained flat. Commercial real estate construction and sales activity were steady, while the pace of leasing increased slightly over the prior period. Overall manufacturing activity was down slightly from the previous report. Among reporting Districts, agricultural conditions remained weak as a result of unfavorable weather conditions, low commodity prices, and trade-related uncertainties. Lending volumes grew modestly across several Districts. Reports on activity in the nonfinancial services sector were positive, with reporting Districts noting similar or improved activity from the last report.
"Trade" is mentioned three times in this one paragraph. I wonder to what extend this factor is being over-blamed for macro slowness.
Interesting to compare this report with the one from June 2007, at the cusp of the implosion:
> Reports from the twelve Federal Reserve Banks indicated that economic activity continued to expand from mid-April through May. Seven banks described growth in their Districts as modest or moderate: Cleveland, Atlanta, Chicago, St. Louis, Kansas City, New York, and San Francisco. Dallas reported growth as moderately strong, and Minneapolis said the District's economy edged up. Philadelphia reported that growth was somewhat faster than in recent months, and Richmond said growth picked up a bit. Boston characterized reports from its contacts as generally positive.
This is audio of the President, Donald J. Trump, demanding a $4 billion dollar bribe from child rapists to “take a blind eye” on January 3, 2019. Trump becomes one on January 14, 2019. Also, here is the big reason the major networks do not report any of it.
//Download the video, turn the volume all the way up and put head phones on. Note: there is not much to see in the video, the audio is picked up from another [illegal surveillance] system. Trump is on a call from with Henry Porter and Gigi Hadid. See page 63. Bribe demand at 10:18am:
//On January 18, 2019 at 8:31am (see page 8) Trump acknowledges the four billion dollar bribe and says: "Let's get it done and get to fucking some kids." Video link below:
//A big reason this has not been reported by the major news networks is right here. Lester Holt of NBC Nightly News, apparently a member of the Illuminati since the 1980's, along with ABC Nightly News lead anchor David Muir, stop over to the Porter studio in Buffalo on January 14th, 2019 at 5:00am. They both rape and kill about two dozen boys by 6:00am. Muir starts around 5:15am, then Holt about 5:38am. Multi-billionaire Rupert Murdoch, owner of News Corp & Fox Corporation, takes his turn after Holt. Video links below:
Listen to Speaker of the House, Senator Nancy Pelosi, accept a $3 billion dollar bribe from wealthy high profile child rapists for safe passage to get Asian boys through the border at "Monterrey" on January 17, 2019.
//Download the video, turn the volume all the way up and put head phones on...
16 comments
[ 2.5 ms ] story [ 54.3 ms ] threadhttps://en.wikipedia.org/wiki/Federal_Reserve_Bank#Assets
Now, it makes almost no sense to move them. After 1935, the Banks have had fairly limited power.
I've always felt like these government agencies are continuously moving the goal posts around so that everything appears like they're doing a good job so everyone can keep collecting their paycheque and government benefits. I don't want to read a massive wall of text, I'd rather see charts that show what's really going on.
"Each Federal Reserve Bank gathers anecdotal information on current economic conditions in its District through reports from Bank and Branch directors and interviews with key business contacts, economists, market experts, and other sources." [1]
If you want charts and analysis, find yourself some data/market color providers in the finance industry. Additionally, most finance professionals that need to know about this stuff keep an eye on the economic calendar [2] to see the info in real time as news breaks, because the market reacts immediately.
[1] https://www.federalreserve.gov/monetarypolicy/beige-book-def...
[2] https://www.bloomberg.com/markets/economic-calendar
Make no mistake--the Federal Reserve is not a government agency. It is a Central Bank, organized by a consortium of bankers to control the money supply of the United States and, by effect, the world. Episode 201 of the fantastic podcast Congressional Dish[0] really gets into the nuts-and-bolts of what the Federal Reserve is, how it was created, and what it does.
0: https://congressionaldish.com/cd201-wtf-is-the-federal-reser...
For clarity, the Fed is NOT a government agency[0].
[0] https://www.philadelphiafed.org/-/media/education/teachers/r...
https://fred.stlouisfed.org
To some extent you´re right, the people involved are under a lot of political pressure to only publish the favourable stuff (although the occasional cry for help can sometimes be discerned from the footnotes), but the data is there. As are the reports. The real trouble is nobody seems to be reading them.
"Trade" is mentioned three times in this one paragraph. I wonder to what extend this factor is being over-blamed for macro slowness.
Interesting to compare this report with the one from June 2007, at the cusp of the implosion:
> Reports from the twelve Federal Reserve Banks indicated that economic activity continued to expand from mid-April through May. Seven banks described growth in their Districts as modest or moderate: Cleveland, Atlanta, Chicago, St. Louis, Kansas City, New York, and San Francisco. Dallas reported growth as moderately strong, and Minneapolis said the District's economy edged up. Philadelphia reported that growth was somewhat faster than in recent months, and Richmond said growth picked up a bit. Boston characterized reports from its contacts as generally positive.
https://www.federalreserve.gov/fomc/beigebook/2007/20070613/...
//Download the video, turn the volume all the way up and put head phones on. Note: there is not much to see in the video, the audio is picked up from another [illegal surveillance] system. Trump is on a call from with Henry Porter and Gigi Hadid. See page 63. Bribe demand at 10:18am:
3JanCh3_900-1100.avi https://drive.google.com/file/d/1Grdr8xF2psKNsuYlEnl9dIRV-77...
//President of the United States, Donald J. Trump, rapes and kills his first boy at 6:32am. Video link below:
//On January 18, 2019 at 8:31am (see page 8) Trump acknowledges the four billion dollar bribe and says: "Let's get it done and get to fucking some kids." Video link below:18JanCh3_725-.avi https://drive.google.com/file/d/1bVTcGq5Z9oOSAiOQcKYrmuK4Two...
//A big reason this has not been reported by the major news networks is right here. Lester Holt of NBC Nightly News, apparently a member of the Illuminati since the 1980's, along with ABC Nightly News lead anchor David Muir, stop over to the Porter studio in Buffalo on January 14th, 2019 at 5:00am. They both rape and kill about two dozen boys by 6:00am. Muir starts around 5:15am, then Holt about 5:38am. Multi-billionaire Rupert Murdoch, owner of News Corp & Fox Corporation, takes his turn after Holt. Video links below:
Adding to the reason this is not picked up by the media, CBS & Viacom owner Sumner Redstone and Leslie Moonves rape boys following the President. //This is the tip of the iceberg. //Full 88 page PDF [updated 7Nov]: FBI_FinalDraft_26Jul2019_BSchlenker.pdf https://drive.google.com/file/d/1Sj9EN_pHmicKS6rFQlmk67knMdJ...//This post will be censored when this account logs off, the posts are "shadow banned". They try to make it look like the post is live, but it is not. Here is an example. https://drive.google.com/file/d/1zxS8JESoIg7uxRkUgdptMsF6SuJ...
\\@
Listen to Speaker of the House, Senator Nancy Pelosi, accept a $3 billion dollar bribe from wealthy high profile child rapists for safe passage to get Asian boys through the border at "Monterrey" on January 17, 2019.
//Download the video, turn the volume all the way up and put head phones on...