The John Batchelor Show

VIDEO: Fed 'Patient No More'

March 24, 2015

Thursday  19 March 2015 / Hour 1, Block A: Mary Kissel, Wall Street Journal editorial board & host of OpinionJournal.com; in re: Janet Yellin and "patient no more but not over a cliff"  -- balance sheet is gargantuan.  "When unemployment is down to 6.5%, we'll raise rates" – now it's at 5% and no raise.  Global implications; a gamble going in, and going out, of uncharted waters.  / Right to try: states may pass a law allowing terminally-ill patents to ask a drug company for the right to try a drug that's  passed a stage-one trial.  / Chicago: two Illinois stories. Aaron Schock resigns after decorating his ofc to mimic Downton Abbey; and his travel spending and some other spending.  . . .  See Kim Strassel's column on Senate.
    Opinion Journal: ‘Patient’ No More  Assistant Editorial Page Editor James Freeman on why a modest Federal Reserve interest rate hike would do more good than harm.
. Federal Reserve Chairwoman Janet Yellen hinted that ... the Fed might raise interest rates sometime this year ... in markets rallied ... assistant Editorial Page Editor James Freeman joins didn't change ... I thought raising interest rates with which would kill the market what happened yesterday ... well does she basically blamed the little that she did take the word patient out of their ... their normal statements meaning ... you can expect a rate increase sometime this year but ... she made it clear that when she does start raising rates probably maybe September we're guessing ... it's not can it be that harsh I don't worry Wall Street ... stocks can keep flying credit still to be easy because ... the rating prisons when they come or not to be that big I know it's almost like Rabois knowledge is trying to figure ... out what parts every single word ... now the Fed seems to change the rules a lot changed ... in just a little while ago they said they raise rates when unemployment hit what six and a half percent ... now we're down in my five-and-a-half ... varieties are a nice that wall for how the central bank functions ... well ... you know ... we talk about the Taylor rule they don't really like the following the rules of but they ingesting the issue is why are we still it border really crisis emergency drop by and zero interest rates when as you said on employment is ... is getting better five nap percent is not that great now we know labor force participation is not good still lot of people out of the workforce but ... this has been a great year in job creation relative to what's ... come before so ... this is not a crisis we don't need the zero rates to revive the economy there's plenty accredited I get it we should have higher rates of Heidi you explain the Fed's reluctance ... that I think it's a fear an ... unfair to have the markets go down ... and then they have to get ... it ... because sometimes markets go up and sometimes the good that we're rooting for markets to go down ... but ... this cycle where they continue ... to want to please the market would be easier credit and stocks continue to rise is not really how you grow well for long-term identical change in unit politics doesn't play a role here ... really ... well you know what we're really to find out you know is Janet Yellen a politician or a Shia series central banker it's over the next year because this is when ... you know the Greenspan era these are the burn Anqi Greenspan eighty two with overtaking policies of to run their course ... and now ... it's time for her to say ... we're going to have a IIa ... a solid currency in which is fine and ... and we're not can have ... a subsidy for risk and where to find out if the Senate or a pigeon are James Freeman ... thanks very much thanks for ...
Opinion Journal: More ‘Right-to-Try’ Victories   The Goldwater Institute Senior Policy Advisor Starlee Coleman explains why more states are adopting laws to give terminally ill patients access to experimental drugs.