This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Washington Debauchery and the Fed Follies

Stocks in this article: C JPM

NEW YORK (TheStreet) -- Federal Reserve Chair Janet Yellen will testify to Congress Tuesday and Wednesday about the economy and future Fed policy.

We won't learn much about either, because the Fed refuses to recognize the facts on the ground.

Its policymaking committee recently stated inflation is below 2%. Yet, according to the Bureau of Labor Statistics, consumer price inflation has been accelerating since March and is now 4%.

Boing 747 Fades Out, but Lufthansa Files a Fresh One to JFK

Why JPMorgan Is Undervalued on Long-Term Earnings Growth Estimates

Low-Interest Rates Woes? High-Yield Closed-End Funds May Be the Cure

It asserts the economy and labor market are improving, but that denies the trials of most ordinary Americans whose wages continue to lag inflation or many who remain unemployed.

The Obama recovery has delivered 2.1% annual gross-domestic-product growth. That's about the same as the Bush expansion, but half the pace accomplished during the Reagan-Clinton era.

And the Bush-Obama economy has created 6 million jobs, whereas it would need 40 million to match the Reagan-Clinton record.

The unemployment rate has fallen steadily in recent months, mostly because so many jobless have quit looking for work and are no longer counted. For native-born Americans, the problem is absolutely dire, because nearly all the new jobs have gone to immigrants.

America's large universities, banks and technology companies have successfully pressured the Obama administration to permit virtually uncontrolled immigration to push down wages for higher-paying science, technology and finance occupations, and in lower paying industries, such as hospitality, where most of the employment growth has occurred.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs