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Cinnamon

Obama Announces Unexpected Meeting With Yellen Following Tomorrow's "Expedited Procedures" Fed Meeting

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One of the more significant, if largely underreported events from last Friday, was the Fed's surprising announcement that it would conduct a closed meeting tomorrow, April 11, at 11:30am "under expedited procedures" during which the Board of Governors will review and determine advance and discount rates charged by the Fed banks.

This is notable because the last time such a meeting took place was on November 21, less then a month before the Fed's historic first rate hike in years.

Moments ago things got even more interesting, when in yet another unexpected announcement, the White House said that both Obama and Joe Biden would meet with Janet Yellen on Monday to discuss the economy and Wall Street reform, the White House said late on Sunday. The meeting is expected to take place some time "in the afternoon."

<snip>

http://www.zerohedge.com/news/2016-04-10/obama-announces-unexpected-meeting-yellen-following-tomorrows-expedited-procedures-f

Oh, look, all the vipers are getting together tomorrow in closed meetings. I wonder what's up with that, meh, whatever it is won't be anything we're going to like. 

 

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NIRP? Bail-ins? Whatever comes of it won't be good news for Main Street.

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