of the reserve balances through term deposit arrangements with banks and open market reverse purchase operations and finally at some point out right sales of assets currently held by the federal reserve banks. it's the right time now to review and refresh those plans now that we are in the latter stages of else had to. but the general approach remains workable. finally as an element of a framework for the near-term i want to push the notion of renewed focus on the monetary and credit aggregates. the anxiety about the large size of the fed balance sheets revolves around fear that results currently idle on bank balance sheets will suddenly come off sidelines. if they did get in the game faster than the economy cannot is for them there might be serious inflationary consequences. practically speaking, i find it hard to imagine circumstances in which the credit channel would heat up so fast in such volume that brought money creation would get away from the fed can devotee to drain liquidity. but it is certainly warranted. in recent history there has not been, not been much attention put on monetary aggregates. i would argue this is not because economists and policy makers have aba

country millions storming the brooklyn bridge to take out the dictatorship of the new york federal reserve bank or how about the dictatorship of the federal reserve bank in washington this is ground zero for the twenty first century revolutionary movement a global insurrection against banker occupation stacie herbert's hello hello how do you like cairo so far max this fantastic it's very warm there are great deals because there's not a single day tourist in our hotel that's right the stress test and but the people are free and you definitely feel that they're free unlike many of us in europe or america where we have failed to oust the dictators that have destroyed our economies just as mubarak the story of this economy it's amazing the people here they they say criticisms of the government and then the you see them for a moment thinking women can i say that and then the light goes off they're like yes of course i can say that i'm free it's the opposite now in the united states where people will say something overly critical of the u.s. then they think of themselves you can see there my thinking

dollar diluting the valley if they're worse than the federal reserve bank a lot of people point the fed and they say the federal reserve bank is counterfeiting money they're destroying the value of the dollar and they use all of their banking connections to undermine the authority of the u.s. government all true but much worse is ingo zynga is worse than the federal reserve bank now this story is incredible the big prints are worthless electronic virtual currency this guy hacks into the mainframe as a freedom fighter to stop the financial terrorism then he resell saw some open market for fifty something cash thousand and he sold them on facebook to other people who want to use this for it to raise their personal farms on farmville or fight in the mafia wars which are which these currencies are use now this guy's lawyer said the last is ingo is impossible to quantify because the chips were virtual and the company could create as many as it wants he also said that actually michel had enjoyed little benefits and spent most of the proceeds on online gambling on other sites that use real mon

millions storming the brooklyn bridge or take the dictatorship of the new york federal reserve bank about the dictatorship of the federal reserve bank in washington this is ground zero for the twenty first century revolutionary movement a global insurrection against. efforts to save russia's dwindling tiger population are showing their first shoots of success the world's biggest cat species faces its toughest fight for survival and there are just a few hundred words left as poachers and a loss of habitat continue to drive them to words extinction aren't you sarah ferguson has been following the progress of one of the lucky ones. it might not be the prettiest of faces but it's one that's become much loved when sure tiger fell victim to a misdiagnosis and a failed facial operation he touched the hearts of thousands and sparked a massive fundraising campaign to save him from which you can move a biology teacher called us admired the tiger and heard this story we all felt sorry for him and decided to help. we are glad our school volunteered to help the climber. thousands of dollars later in j

millions storming the brooklyn bridge to take out the dictatorship of the new york federal reserve bank but how about the dictatorship of the federal reserve bank in washington this is ground zero for the twenty first century revolutionary movement a global insurrection against your patience. now let's take a look at some other stories from around the world a car bomb has killed twenty and wounded dozens in pakistan's third largest city a blast ripped through a gas station and cries about leaving the area covered in debris while other parts of pakistan have seen much while and by both qaida and taliban militants the eastern city has rarely been a target in the past. thousands of egyptian christians have protested in cairo demanding an end to religious discrimination against them demonstrators flooded the sixth of october bridge chanting slogans coptic christians make up the temper stance of the country's eighty million population and they back to the always days of christianity the accuse the governments of failing to stop prejudice which they claim makes them second class citizens. ame

the us millions storming the brooklyn bridge to take out the dictatorship of the new york federal reserve bank or how about the dictatorship of the federal reserve bank in washington this is ground zero for the twenty first century revolutionary movement a global insurrection against banker occupation. russia's republic of chechnya once an arena for military conflict is now a stage for a prestigious world class war it's after some vicious rebuilding the capital grozny is hosting a friendly football match between brazilian superstars and a team formed by the republic's leader or he's tom barton is in the stadium where the game will kick off in a few hours as an hour of excitement of course to the chechen capital to. they excitement about a football match due to take place on this pitch later today and that football matches between chechnya and brazil yes brazil details about the arrival of the brazilian team made today are being kept very quiet it's not quite known which players it will include but it's expected it will include players that help was ill when the two thousand and two world cup a

the us millions storming the brooklyn bridge to take out the dictatorship of the new york federal reserve bank or how about the dictatorship of the federal reserve bank in washington this is ground zero for the twenty first century revolutionary movement a global insurrection against the patient. sure enough as some other stories making headlines across the globe a car bomb pakistan third largest city is killed twenty people and wounded almost one hundred others that blast tore through a gas station in frys all bad leaving an area covered with debris well other parts of pakistan have been. seen much violence by both al qaeda and taliban militants the eastern city has rarely been a target in the past. australia's state of queensland's once again been hit by two rental rain and flooding one woman said to have died after she was apparently swept out of her car by the raging torrents more than two hundred millimeters of rain has fallen in meteorologists are expecting more to come homes and businesses are being deluged in a region still trying to recover from the weather devastation that started ba

millions storming the brooklyn bridge to take out the dictatorship of the new york federal reserve bank for her by the dictatorship of the federal reserve bank in washington this is ground zero for the twenty first century revolutionary movement a global answer. invasion. in the name of. now let's take a look at some other stories from around the world and a car bomb has killed twenty people and wounded dozens of stands third largest city a blast ripped through a gas station and leaving the area covered in debris while other parts of pakistan have seen much mileage by both a qaida and taliban militants in eastern city has rarely been a target in the past. but it's really a state of queensland has once again been hit by torrential rain and flooding one woman is known to have died after she was apparently swept out of her car by raging torrents more than two hundred millimeters of rain has fallen meteorologist expect more of the calm homes and businesses are again being delusion in a region still trying to recover from the weather devastation that started back in november. thousands of eg

the early days of the financial crisis in two thousand and eight the european central bank the u.s. federal reserve and the bank of england have all been forced to adopt policies it's kind of like the human shield thing where just human shields for this whole crazy monetary and fiscal disaster and economic disasters around the world that just a few years ago they would have dismissed as preposterous oh right exactly they just term force as if somebody is put got a gun to their head and saying we you must commit fraud behalf of everyone who supposedly you're protecting over there the central bank and that's false of course they're not being forced by anyone to commit fraud they're doing so for one simple reason they're making a boatload of money doing it because they're essentially pirates of the digital age these are the pirates of the digital caribbean age you've got. a bank of japan who are just out there stealing they're just they're larson mystically pilfering without any recourse whatsoever and that's why so over is going to five hundred that i say that yes well yes you have but this is also i

involve a combination in some order of increases in the federal funds target rate supported by increases in the interest rate paid in excess bank reserves. the locking up of reserve balances through term deposit arrangements with banks, and open market reverse repurchase operations, and finally, at some point, outright sales of assets currently held by the federal reserve banks. it's the right time now to review and refresh those plans particularly now that we are in the latter stages of lsap2, but i think that the general approach remains workable. finally, as an element of a framework for the near term, i want to push the notion of renewed focus on monetary and credit aggregates. the anxiety about the large size of the fed's balance sheet revolves around fear on balance sheets that are idle coming on the sidelines. if those balances get in the game faster than the economy can ob cosh them -- absorb them, there's consequences. i find it hard to imagine circumstances in which the credit channel would heat up so fast and in such volume that broad money creation gets away from the fed's capability to drain liquidity, but precautionary mon

because you naturally want to defend his own policies but if you look at the policies the federal reserve bank policies over the last two years three years they have been catastrophic and once it's an easing one an easing two which if we show you from is some sort of hyperinflation they are technically ivory playing the dollar so we always need to blame chinese demand or the libyan crisis or even any concerted action on the part of the opec countries or even venezuela which is always in danger then to say our own policies have failed but that's understandable i think we but i think you have to look at the overriding global power agenda which is even the globe that of the attorney of the song of the state department at the federal reserve in the united states so if it's catastrophic and these are your words not mine then why again why why ask these policies. basically because we are seeing and this is a key point that we have to keep in mind don't think so much in terms of actual countries although they are so bored whether given us other kinds of the european union or north africa or latin ame

>> the federal reserve bank has a region bank for this part of the state and puerto rico, the new york fed is the bank and run by phil dudley, and he approached me about becoming one of three public members. there are nine members of the board. formally the three public members are appointed by the board in washington. the others are elected by the banking members that own the central bank. so we -- so i got involved almost two years ago now. and was both honored because it's a very important institution. but also have enjoyed what i have been able to learn about sort of the how the overall economy works. how the new york fed takes lead on many aspects in the open market committee and market policy. and of course we have the financial crisis and the new york fed took an unprecedented rule in helping to restructure the country's financial system and the regulatory system. so it's an amazing time to be a part of institution. >> explain the national federal reserve board is the government and the new york fed is an independent private bank. but yet there is -- >> no, it's part of the cent

there was one recommendation that the president should appoint a president of the regional federal reserve bank. many of us thought that was a huge mistake and it would politicize the fed. these banks have been professional particularly in new york. very highly respected as being nonpolitical. as adon't see this washington political operation. they see this as a high integrity operation. >> as things are not going the way you want them to go where does your vote change things? what is the power of the advisory board? >> we a point the president. >> i suppose we could make that recommendation. do you need a certain number of people voting? is it just a 5-4? >> it would be a majority. >> the board is really there to represent a broader community industry financial community to provide input to the bank. that is why it is a great example of an american institution. it is the government looking to a variety of private sector interests to come and and give their opinion before the government makes its monetary policy. our role is to help with that advice. >> how many people work for the fed in new y

so now that the federal reserve is going to hold regular press conferences, what will the world's most powerful central bank have to say to the american people who may not know him. darren gersh polled some experts. >> reporter: it is not exactly a news flash to say the federal reserve is not very popular right now. part of the reason for that is that the place is just hard to understand. >> i think monetary policy is quite mysterious to most people. >> reporter: alice rivlin knows that from experience. when she was nominated to serve as vice chairman of the federal reserve, she says even some of her very sophisticated, inside- the-beltway friends were unclear on exactly what she'd be doing. regular press conferences are an opportunity to change that. >> one of the problems of the fed is not just that it often has to do things that are unpopular, like raising interest rates to halt inflation, but that people don't really understand what it is, and if you don't understand what it is, then you tend to think it is a negative conspiracy or something. >> reporter: more openness will help address those concerns,

. >> there is a hearing to federal reserve bank. and they're trying to fill 350 jobs in the bay area. >> we're searching for professionals today and there are people on the it side. >> does it seem like market is opening snup. >> and more than last year? >> i believe so. >> this is more people that are hiring. >> and to become job ready, some are having their resumes revamped. >> what is a common mistake. >> putting reverences in resume, putting personal hobbies. >> the line was long for those critiques. any help is welcome when searching for work. >> so keep going and looking for help. >> the next hire event will be at emeryville tuesday april 26th. >> i think we just heard 70s mentioned. >> and had to bundle up today. >> you did. there is today a little bit warmer, tomorrow going to feel like spring and look like spring. don't get rid of the embrel yaz just yet. there is a low level moisture, we're expecting fog out there and low clouds tonight. there are showers and there is a jump in the roadways that are long gone. getting read

i have work experience with the federal reserve bank of san francisco. i am most proud of the work i have done for myself. i started a business called power forward, a social media and public policy consulting firm. >> why did you choose to return and live in san francisco? what motivated you to run? >> what motivated me was my love of san francisco. i see the changes that are happening. i see people picking cans out of the garbage. i see that there is no neighborhood grocery store. i see that small businesses are coming and going. they have not been able to sustain themselves. from my work experience in working for the city come in the mayor's office and in the nonprofit, i had a good sense of what the challenges were. as i looked on the horizon, i see more challenges coming. i thought i had a set of experiences and a passion and desire to serve. it started at 1 point when i was 8 years old. i took a tour here with my third grade class of city hall. coming into the rotunda, seeing the staircase, it is very mesmerizing, very memorable, and powerful. it w

right and you need some accreditation from institutional players and all this for example a federal reserve bank other investment banks rating agencies and all these players and the government has to give these things the seal of approval and give them an a rating or an a plus rating even though what they're exchanging back and forth is a fan phantasmagorical representations of a digit all across as a derivative of something that was a con consummation and somebody is imagination over lunch before they went out for a couple of martinis and they call that a deal they give themselves a huge fee but at the end of the day they're just programming the computers to steal is not correct i wouldn't necessarily say steal one out but why not because for example harper can think trading is a siphon siphon capital off the floor of the exchange for no work as you point out it's fully automated they put in no neighbor they steal the money how is that not stealing the reason it's not stealing is that everyone involved is profiting from this process the idea of how do people in america who are having their curr

. >> the federal reserve bank of san francisco, you, or one of the very few presidents with extensive experience in the private sector. what is the proper balance for the fed between academic and business views on the economy? >> depends on whether you speak to someone with an academic background. [laughter] >> first let me say i got an e-mail from john williams this morning in response to my congratulatory e-mail over the weekend coming and he pointed out, john is a ph.d. economist and has a different background than mine to people born in the san waukee and valley of california are on the fomc. this is on president i want you to know. all the people in bakersfield, modesto and fresno should be proud that we've made it. if you're from that part of the world did you know why we should be proud, right? i think it's healthy to have a mix on the fomc. i have many colleagues who are ph.d. economists who pursue their careers largely in the economics profession, largely domestically in the academic world or in the federal reserve and the of course bring perspectives to the table that i don'

because you know he wants to defend his own policies but if you look at the third policies the federal reserve bank policies over the last two years three years they have been catastrophic a quantitative easing one in terms of the easing to which it was a euphemism for hyperinflation we are technically in the dollar so we will always be used to clean chinese demand or the libyan crisis or even any concerted action on the part of the opec countries or even business will or which is always in danger then to say our own policies have failed or that some standard i think we. have to look at be overriding the will power of term which is even above that of the agenda of the foreign of the state department and the federal reserve in the united states and so but it's catastrophic and these are your words not mine then why again why in athens policies. basically because we are seeing and this is the key point i think we have to keep in mind don't think so much in terms of actual countries although they are so important whether people are us or the cops of the european union or north africa or latin america