Rod Murray, CEO, Federal Reserve discussed on The Opening Bell with Steve Grzanich
Bank will be here today it is rod Murray, here's the group s VP for commercial banking in head of the leveraged finance, group over at associated Bank we're gonna have a good conversation, today about interest, rates in the, economy and some other issues as well and we'll bring in Rodman a little bit later in the program We will talk a little bit. About nutrition and diet maybe adding a little, bit more meditation to you're, a good menu your food, menu we'll have a dietitian, nutritionist with us this morning Judy Mattis, go will be here that's in the second segment at around five forty this morning but first let's begin with the WGN associated big market desk futures are pointing toward opening losses. When the bell rings later on Wall Street Dow futures are. Off one. Hundred. Sixty eight points more than a half. A percent NASDAQ futures are down more than, three quarters of a. Percent fifty four point seven s and p futures are off more than a half a percent as well. Again looks like a, weak opening on Wall Street a little bit later this morning lots of weakness around. The world as well. In London markets are off by more than a percent nearly two percent in Germany nearly a percent in. France and in Asia this morning the Nikkei off more than a percent two hundred and thirty four points, and the hang sang off nearly six hundred and twenty five points Down more than two percent Shanghai's off two percent as well Oil is trading this morning at sixty seven zero four which is down about sixty. Two cents a couple of stories that we're watching, for you the former president of the nation's largest fuel retailer convicted of defrauding customers have more than twenty three. Million dollars is seeking to delay his sentencing citing faulty math Mark Hazlewood is set to be sentenced August twenty second for his part in a five year fraud scheme that, shorted trucking companies Hazelwood's new defense team argues, that three months they need three months to challenge that lawsuit five. Months after Uber pulled, its self driving cars out of Arizona following a fatal crash Google spinoff Waymo is putting technology back on. Phoenix streets in partnership with the city transit system valley metro the agency that oversees metros Phoenix light rail and buses had already been in talks with partnering with Waymo, for several months before the crash last, March that killed a but estrin company's safety record is impeccable but they They're always trying to improve according to valley metro CEO Scott Smith Waymo announced in a. Blog post this week that a pilot program would launch allowing writers to hail and autonomous car to the nearest valley metro transit stop of course this is an experiment, that a lot of folks will be, watching nationwide And it is thought later. Thursday here on the opening bell we do that every Thursday here with the new thought leader. Every week. Talking about all kinds of things. Today, we're gonna, talk. A little bit about yesterday's. Decision by the Federal Reserve, to leave interest rates unchanged and the economy rod Murray is here from associated Bank rod. It's the group s VP for commercial banking and had. Leveraged finance group at associated? Bank rod good morning welcome back to? The opening bell thanks good morning Steve? You're all smiles this morning like a lot of folks you must be very happy with the way things are going with the economy right now right now nothing to complain about on the present state what's the future look. Like are, the unknowns and the uncertain pieces what are people happy about right now Unemployment or lack thereof the GDP numbers were obviously. Strong you still have some? Availability of credit that is in a? An abundance and you know in general You can't find something. That you can point to and say gee it's going to turn tomorrow, it's just yeah, tomorrow's tomorrow As we speak the Federal Reserve decision has just. Been. Down no new rate hike? This, time around but they still say we're on track for. One every couple of months right how would that impact things well I think that the markets have already built that in so unless there's a change in their either the verbiage that's behind. The, rate increases or or something happens that they increase it by more or less than what the markets are currently predicting otherwise I. Think that the yield curve has built that into both the. Both the market in the interest rate sensitivity and the pricing I bet you? Get. To talk. With. Some CEO's on occasion what are they telling you about their long range plans and their long-range. Concerns shirt CEO's CFO's right, the c. suite their their long range plans are that they. Are talking about. Spending more money they are looking. At a they are looking at, continuing best invest, in their own businesses that's really great so those are the, good, pieces their concerns are the. Labor market, especially, if they're Serving the skilled in under skilled labor market. That there's a big shortage, right now you know to find help because of what we. Just talked about. On the unemployment rate is so. Low everybody that wants a job, pre much has Are there any solutions for that the rest of. The crowd that maybe out there that we. Could pull from for employment is retraining is it are there other solutions that. We can find you get, more people working. And there's, been some interesting things in talking to to your point some some. Of our clients is different things one, is you're seeing, apprenticeship programs come back and you're seeing them look hard it just their overall wage peace and emirate I mean we all we all work for a reason which is a. Living so looking hard at what the wages the wage growth and it was one of the things. We didn't, touch on that. Hasn't grown at the pace at the cheap s. so those are some things that, they're, doing more creative something that we've seen that I think is is also brilliant is going back to the co ops I mean. Think, about you I are close to the same age about how popular the co-op system. Was for, again invest in our young people and and get them interested and get them skilled and looking. For a skill at a younger age yeah Let's talk? About a couple of topics that we've been following we've had conversations before? Here on the thought leader about syntax financial tech firms financial technical. Firms or the technology financial technology and this. New report says that the mid west is is increasingly the place where they. Are coming to to start, up to plant. Their seeds, and grow that's kind of exciting that is exciting and we'll touch. On there was an article just this, week as well, from the treasury department that is really going to feed this in a little bit more but yeah in the mid west there's a cost of living component that's down there's. Definitely a talent pool here in the mid west people are here and people want to be here. So the, fact that it's. Coming in or or they're starting in a little more is is that's bullish where, the, issue is is on the capital that's what they need to do and as we read in that article there's a plentiful venture. Capital But seventy five. Percent of it is centered and three, states California New York Massachusetts And we've heard too just outside of fintech a lot of startups complaining. About this that the? Money, in the midwest doesn't, seem to be, as plentiful elsewhere how does that change well you know. The again, the treasury. Department what they, just released this week. That could change things you know we'll see I think, they they released eighty recommendations some of which will could help, spur, that including, some The ability to regulate or other things deregulate kind of calling it I think the term. That, they used is creating. A sandbox for these fintech startups so that's a way you could change it still could, have some issues with the state's. On certain components of that on what the states are going to fight it but a few of. These things of the. Eighty what number of them go through that might open, up some capital and open up some growth in the fintech space rod hang on. With us we're gonna continue with rod Murray. Here on the thought leader conversation on the opening bell Thursday. Edition, of our. Program continues but. First we need to take. A quick break to check traffic and a couple of. Business headlines I with, WGN traffic here's Mary. Van de Ville and traffic sponsored by, indeed no delays yet most of the area expressways tollways accident though in. Broadway and Ashland and? Also, I got park in, robbing road keep, in mind all the closures for lollapalooza that starts today. Columbus closed, Monroe Roosevelt. Belbow Jackson congress, ought closed for Michigan. Columbus and Monroe is closed from Columbus to lakeshore drive Are you hiring with indeed you can post a job in minutes.