Janet Yellen's first press conference as Fed Chair.
Short term interest rates have been near zero for a while, so the Fed can't really lower them any further. Monetary policy isn't pushing up inflation, as many had feared it would. And while the Fed is still employing the bond-buying program formerly known as Quantitative Easing to push down interest rates on bonds and assets, it's beginning to ramp that down.
In other words, the Fed has now employed all of its tools it usually uses to influence interest rates. All it's got left? Words. Specifically, something called "Forward Guidance," which is really just telling the American people what it plans to do in future. That may sound obvious, but it's a real departure from the opaque world that the Fed used to inhabit.
Also, in referencing a chart of the guidance made with dots, Yellen said we "should not look at the dot plot as the primary way in which the Committee is speaking to the public at large."
"These dots are going to move up or down over time."Marketplace for Wednesday March 19, 2014by Sabri Ben-AchourPodcast Title: The only thing the Fed has left is words. And dots.Story Type: News StorySyndication: PMPApp Respond: No
If a person with subsidized insurance falls behind in paying premiums, insurers are required to cover the medical bills for 30 days. Over the next 60 days, insurers can hold off paying the claims.
"Tom Izzo is a great tournament coach," the nation's "first basketball fan" tells ESPN. It's the sixth time the president has shared his picks. So far, he's been right once.
Kids seem to crave more energy and sugar than adults crave because they're growing, researchers say in a new study. They found that kids who preferred sweet flavors were tall for their age.
Who hasn't been a student in need of money? Back in my day, we would pick up an extra shift at the library or clean petrie dishes for the biology department. But we were a simple people--easily delighted and distracted by things like carpenter pants and network TV. These days, students are much more sophisticated.
Case in point: A group of students in California is suing Google. They claim Google's Gmail monitoring violates federal and state privacy laws. The story was written up by Mashable in fuller detail here.
The nine students who are bringing the case are focused on something called "Apps for Education." It's a collection of free, web-based education tools with around 30 million users. Many of these users are under 18 years of age. Therein lies the class action lawsuit: the Family Educational Rights and Privacy Act, or FERPA, ensures the privacy of records of students under 18. Evidently, Gmail might be in violation of this.
That could potentially mean Google pays out millions to Gmail users. Not sure how any of it will pan out... I have a feeling that Google's lawyers are of the pelagic persuasion.
Still, hats off to the students for fighting the good fight. And, just in case they need money next semester, the NSA might want to send them a preemptive fruit basket. But seriously, hats off to the students.
One group that knows about "days of utmost anxiety" reaches out to another. In 2009, Air France Flight 447 crashed in the Atlantic. Debris was found after 5 days. Bodies weren't recovered for 2 years.