David Brancaccio, New York, America discussed on Marketplace All-in-One

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And by sun basket sun basket has been rated the number one meal kit by leading publications why they deliver easy recipes and clean ingredients to your door with options for paleo glutenfree lean and clean vegan mediterranean family options and more go to sun basket dot com slash morning to learn more and get thirty five dollars off your first order sun basket dot com slash morning interest rates have become especially interesting this week i'm david brancaccio in new york this is the week interest rates moved sharply higher in america one benchmark the yield on the government's ten year note is up at two point nine four percent could three percent before behind market players have got it into their heads that the week batch in the stock market is over for now and sold bonds to buy more stocks but personalities are also at play christopher lowe the chief economist at ftse financial in new york says the new president of the wall street fed the powerful federal reserve bank of new york is doing some straight talking there are only three fed officials carry much weight with traders such the chairman the vice chair and the president of the new york fed because they're enormously influential john williams was selected and approved to take over the new york fed this summer he had a press conference in madrid with financial journalists and he is is his style was just remarkably forthright traders were i think a little disturbed by some of what he had to say yeah he was talking impart about he's not buying into this idea that productivity growth justifies greater economic growth in america but that when you hear it what do you take from that here's the thing if there is a shortage of workers which the fed believes there is the unemployment rate is very very low then the productivity is really the only outlet for faster growth without inflation so if he doesn't believe which he doesn't that productivity can accelerate then the feds job is to slow the economy to a crawl they have to take gdp growth down to about one percent of year right now the economy's growing at about a three percent rate and actually if you listened closely to what he said.

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