(1) Precarious work. The thing that bothers me about precarious work is that no matter how great you work, you can be fired any minute. As a result, things that require long-term commitment–a house, children, car purchase–are out of reach. Workers at the work site all have “temp horror stories,” as if the temp workers are not also being exploited by the employer (low pay and no benefits).
This example serves as a preface to a Bloomberg story, Inside Google’s Shadow Workforce by Mark Bergen and Josh Eidelson, about the precarious workers at Google, nearly 50 percent of Google’s workforce.
Yet Jerome Powell, multimillionaire Chairman of the Federal Reserve Board continues to talk about “full employment”.
The Federal Reserve Board (Board) publishes a weekly digest of its activities on its website. The digest is called the H.2 Release and is published every Thursday. The release for the week ending July 28, 2018, is below.
H.2 Release–Actions of the Board, Its Staff, and the Federal Reserve Banks; Applications and Reports Received
|Forms||Forms — final Board review to extend with revision the Consolidated Financial Statements for Holding Companies (FR Y-9C), Parent Company Only Financial Statements for Large Holding Companies (FR Y-9LP), Parent Company Only Financial Statements for Small Holding Companies (FR Y-9SP), Financial Statements for Employee Stock Ownership Plan Holding Companies (FR Y-9ES), and Supplement to the Consolidated Financial Statements for Holding Companies (FR Y-9CS).
-Approved, July 24, 2018
|Enforcement||Chicago Shore Corporation, Chicago, Illinois, and Security Chicago Corporation — written agreement dated October 28, 2016, terminated July 24, 2018.
-Announced, July 26, 2018
Community Trust Bank, Pikeville, Kentucky — issuance of a consent cease-and-desist order.
-Approved, July 24, 2018
East West Bank, Pasadena, California — written agreement dated November 9, 2015, terminated July 18, 2018.
-Announced, July 24, 2018
Federal Reserve Board: Balance Sheet (H.4.1 Release)
The Board publishes data of factors affecting reserve balances. The digest is called the H.4.1 Release, and they are published every Thursday (or the next business day if the publication date falls on a federal holiday). The release for August 2, 2018, is below.
[Note: The blog will cover the line titled “Total Factors Supplying Reserve Funds.”]
H.4.1 Release–Factors Affecting Reserve Balances
Total factors supplying reserve funds (as of August 1, 2018): $4,302,997 (in millions of dollars). (On September 26, 2007, this amount was $900,473 (in millions of dollars)).
(See the release for further information.)