Yellen says Fed could buy stocks if Congress authorized it

Section:

From ETF Daily News, Coronado, California
Thursday, September 29, 2016

For the first time the Federal Reserve has openly spoken about expanding its monetary policy toolbox to include the purchase of stocks -- not just bonds and mortgage securities -- and the implications could be huge.

Amid Fed chairperson Janet Yellen's testimony before the House Financial Services Committee yesterday, South Carolina Republican Mick Mulvaney asked very directly about the cartel's potential to buy stocks to prop up the economy. Mulvaney said:

"There's been some attention in the last few months about the recent decision by the Bank of Japan to start purchasing equities and my question to you is fairly simple. Is the United States Federal Reserve looking at the possibility of adding the purchase of equities to its tool box as it looks at monetary policy?"

Most Fed watchers would have expected Yellen to deflect the question, or to simply say no. But then Yellen dropped a bombshell with her response:

"The Federal Reserve is not permitted to purchase equities. We can only purchase U.S. treasuries and agency securities. I did mention in a speech in Jackson Hole, though, where I discussed longer-term issues and difficulties we could have in providing adequate monetary policy. Accommodation may be somewhere in the future, down the line that this is the kind of thing that Congress might consider, but if you were to do so, it's not something that the Federal Reserve is asking for." ...

... For the remainder of the report:

http://etfdailynews.com/2016/09/29/janet-yellen-says-the-fed-will-buy-st...



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K92 Mining Shows What 'Fast Track' Really Means

Company Announcement
By Kevin Silva
Market One Media, Vancouver, British Columbia, Canada
via Business News Network, Toronto
September 18, 2016

"Fast-tracking" is an overused phrase in the mining sector. But K92 Mining Inc. (TSX.V: KNT) has demonstrated exactly what that concept means.

Less than four months after going public on May 25, the company has completed additional financings totaling $18.5 million. It also refurbished the mill and mine facilities with enhanced processing capacity and has two drills turning onsite. With all this accomplished, production looks to be just days away.

"The technical team on site has done an excellent job with the production restart, and we are on schedule and on budget," says Director and Chief Operating Officer John Lewins. "With that focus on track, and with the enhanced financial flexibility resulting from our recent financings, we are now looking to target a resource expansion that we believe exists."

K92 has under-promised and over-delivered. ...

... For the remainder of the announcement:

http://www.bnn.ca/k92-shows-what-fast-track-really-means-1.568196



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