18 Burst results for "Arthur Burns"
"arthur burns" Discussed on Uncommon Knowledge
"The guidelines we had fun but it was important so then i become an office that i i have this on my mind and i can just feel wage and price controls coming and i worried about i made a speech called steady as you go. The argument was we have the budget under control. If we have monetary policy consistent with keeping inflation under control and have the patience steady as you go. We'll oh get there. It was bone away and i found a reason why in the archives the hoover archives are studying what you find i found a letter from arthur burns who is chairman of the federal reserve helmet cermony said arthur burns the pope economics is infallible but i found this letter and argued to the pre was private letter i i didn't know it existed but i found in the archives letter from arthur burns to present nixon saying the economy's changed normal monetary policy. They won't work. You've got to do something different. Here's my suggestion as wage price freeze by controls. When i saw that letter i knew i i lost the chairman of the fed gave the president advice that turned out to be disastrous but it was terrible because it works so well for a short period period. I was scared to death but anyway in the end all it did was it helped controlled held back the economy ourselves controls would control inflation so he could gun the economy but the gunning economy didn't work because they're controls had a hold of but underneath it the burning of the economy produced suppressed inflation which broke out resigned reimpose wage price controls when i was secretary of treasury but when i came back with president nixon it was the result at all so let me let me ask if you one more question now and this gets to the interplay between institutions policy and leadership and here's the question richard nixon versus ronald reagan. They're both republicans. They're both advised by a number of the same advisors. Arthur burns advise ronald reagan advises is is ronald reagan. You're advising both of them. Both of them listened to milton friedman. I think there's some evidence that ronald ronald reagan took milton friedman more seriously but they're they're both both in the same stream of thinking and policy advice and yet as john mentioned as you you've made the point the difference between richard nixon knicks and wage and price controls assertion of state power on the one hand and then ronald reagan cutting taxes rolling back regulation achieving achieving a stable dollar. What's the difference is to what extent is that difference in what policymakers and the economics discipline are learning learning between the seventies and eighties and to what extent is it is it ronald reagan wanted to surprise you because i want to say something good about both of them yeah but here's here is why ronald reagan was so beloved in the reelection campaign was obvious we're sweeping mondale which is upset number and he said i don't want to humiliate and not his own state so we pulled all of our ads and our efforts away from minnesota and mondale wanted by lashing in minnesota but people realize reagan. There was this kind of compassion compassion. I'm gonna win. I don't want to humiliate my opponent. Beasts have some stature self respect so that's the kind of guy he was now. Here's something on behalf. Nixon was a strategist and i was involved many things him that bulb that but in one thousand nine hundred seventy he decided to desegregate the schools in seven southern states. This is sixteen years after the brown decision decision. There's still segregated that fact shows you how difficult people thought that process would be. I'm secretary of labor and he's he decides that you can't just have this happen. You gotta manage it so he appointed a committee with vice president agnew the chairman of the vice chairman and agnew. It has nothing to do with it so i became the chairman and pat moynihan was in the white.
"arthur burns" Discussed on WBZ NewsRadio 1030
"Bill and quickly get into governor Charlie Baker is desk and there are the typical ways to beat the heat and then there are well not so typical ways I thought it this past weekend did you it is making me absolutely crazy I did just about everything I could think of to beat the heat ice packs an ice bath for my feet I even drove in circles in my golf cart just to create a breeze others chose alternative methods riding a skateboard on they can bridge we have currently had a naked man running around the store Dr Arthur burns monitors police band radio was a total traffic what happened to the naked dude as far as I know yeah he was he was removed promptly and you know one is merry way he went on his merry way that's from what I'm hearing I don't you know that's not the official word in Medford Chris Palmer WBZ Boston's news radio three it's time for traffic and weather together the Subaru retailers of New England all wheel drive traffic on the three is yours Laurie Grandy route three south by continues to be very slow going from one thirteen to Westford row that's from earlier crash we had at Westford road there in Tyngsboro traffic continues to be slow going after that approaching four ninety five trouble cove road for about a mile getting on to one twenty eight that west of town just picking up word of a crash one car involved left hand lane this is westbound on the mass pike in the Grafton stretch eastbound still stolid from four ninety five to route sixteen a west Newton again from the new balance building to be you downtown airport tunnels are still full both ways Sumner's back to the airport runway the Ted westbound jammed Logan the South Boston eastbound there's been some road work at the airport exit so watch out for delays there when I check in one more time with the my free insurance copter hello are you still have those are road closures in the middle of Natick this is going to be like this for a while it's affected one thirty five as well as South Main street at pine street all of them are shut down we have a lot of fire department vehicles and apparatus set up here as firefighters continue to battle this nine alarm blaze of downtown data crystal offering insurance copter and residual delays route three north bound through Plymouth sad again three derby street all the way to the expressway because of earlier problems there Laurie grantee WBZ's traffic on the three now the WBZ four day accu weather forecasts were staying pretty warm this morning it's still pretty humid out there as well but that air is gonna start to change as we make our way throughout the day.
Fed, Matthew Zeti And Arthur Burns discussed on Bloomberg Surveillance
"A quiet day to day, but the later on Paul Suinian this, the securities beautifully to our next guest. We have some several many in. The minutes of the fed, which I find ridiculous. And the minutes used to be used to be to try to measure Arthur burns, the what the pipe smoke said out of his pipe. And then it was Greenspan multi syllable. Speeches. And now it's some several many Matthew Zeti joins your Bank right now on the American economy. What fail you miss you do you get out of the minutes? I think the value of the minutes depends on what has happened in between the meeting and today and I think that's a particularly important for about today's minutes. The minutes will typically today should show, the fed was a little bit more optimistic on the growth fund mystic on, on trade, and in global growth. And it clearly that's become stale, given that we've had the flair trade tensions since then I think, more importantly, we'll be looking at is how they talked about the inflation dynamics outlook. Well, let me look into that in moment, but this is really important. The minutes became a joke about some several in many do they still do that to the minute still say some of our districts, several members do they still have absolutely absolutely do. And, and you know, part of job is parsing through how many members and officials are represented by each camping anything on the inflation front, that's going to be an important distinction today. If they feel Matthew, I think from the feds perspective, they feel that inflation is let's call it. Stubbornly low, do you think the fed can even influence inflation? I think that's a key question. And we've certainly seen a number of fed officials and, and academics and others focusing on the fact that the Phillips curve fund, meaning that inflation, does not seem to be as responsive or sensitive to the unemployment rate in growth has been in the past week. We put in a note just recently early this week and it looked at how much of the core PC basket KENDALL said actually affect either through the economic growth or through the dollar. We think about two thirds of the basket. They can't affect that means that there's about a third of the basket that they cannot. And so it does put constraints I think on how much they can they can get inflation. Can I get back to two percent and from this policy framework, debate can even get above two percent if they wanted to so from your perspective, what can lead in a flation higher wage? Just looking at wages, you know three point two percent. That does not seem to be doing it. Yeah. I think wage growth has not been doing it or for a few reasons, one is that productivity growth has risen in line with wage growth. And so you haven't seen these costs push pressures come come through. In addition, these some of these components that, that cannot affect have been been weaker. But I think the fed, if they are looking to push inflation, higher, it's going to, to be through the economy, typing and more importantly to inflation expectations really, really important. How do they force inflation higher? Is there is there a legit published academic study that says a fed pushed inflation higher? I think the whole Phillips curve, framework, which has, has clearly come under question is about the fed being able to push inflation higher. But that's the effectiveness of that has declined because the sensitivity of inflation dislike has declined history. Well, let's go to Walter Heller. He was before you met the sixties did they, quote unquote push inflation higher. Or was it other forces that moved to play should higher? It was a combination if you look back to the sixties, you had an economy that clearly had head over tightened up. They continue to push unemployment rate lower at the same time. You had health care initiatives, that, that let this guy rocketing healthcare inflation. So that was outside their control. But I think most importantly, inflation expectations rose substantially inefficient expectations versus actually because the fed was really trying to get a hot economy at that time they could contain a push mower. And just in time, he had massive fiscal stimulus. So does it looks at that period and said this wasn't uninteresting inflation, expectations and they look forward? Look at that is the key. Way too short. Betsy was we gotta get you in your three hours at some point. He's working with Peter Hooper, just brilliant. Brilliant,
"arthur burns" Discussed on Slate Money
"We have we have the classic fight efficiently. We have the man with the crystal ball. Mr. j Powell the chairman of the federal is a took out. His crystal ball and sets interest rates in order to make sure that the the US economy can keep on growing and shrink and keep on creating jobs, and all of these other wonderful things, and he uses the combined power of all of the Fed's focused is to do this. And he reckons that we're still not quite neutral rates yet. But the economy is ticking along quite well. And basically he seems to be doing an okay job, except there's this weed are in Cheeto thing in like coming in from stage left and making the whole thing. Much more complicated. What is going on, Emily? Well, Jay Powell at the fed is China's best to just go about his business and the President Trump just keeps trash-talking him. Basically saying he's not happy with him saying, he stop raising rates saying something, I'm not being accommodated by the fed because I know in my gut that's at the president just wants to rule with his gut. He knows that he should not be raising rates anymore and breaking a long tradition of presidents not messing around with the feds long. Yeah. Just to be clear. Like, no, this is actually like, okay. Look, we all Donald Trump. We all think Donald Trump's in idiot. Donald Trump breaks all the time. This is not breaking if you look at when the fed like kind became independent in nineteen fifty one since then pretty much almost immediately every president tried to affect fed policy. Whether you're talking about the most famous example, it everybody says if Nixon and Arthur burns or whether you're talking about like Lyndon Johnson like literally shoved William mcchesney Martin against a wall in screamed at him. And that was a long time ago. I mean, the loud, George, H W Bush, he said, George Hw Bush to shove anyone. Yes, he did not lay his hands. I know. But he while he was president. And after he was president talked quite a bit about his that. He did not agree with policy. So I think that this is one instance, where I think we are blowing Trump's actions a little out of. Well. Okay. So this every other president in general when presidents have been unhappy about fed Bosie. They have you know, try to buttonhole the fed chair and say you stop making me look bad. Stop raising rates. Ause? Anyone can tell Trump hasn't done that. He hasn't talked to Powell tool. He just gives interviews the journal way he talks about how unhappy is with with. How does it difference? I think there's an important difference between saying something directly to the fed chair and Frank influence fed polcy that which I think is actually not what Trump is doing. And what was done in the past versus what Trump is doing which is coming out in public and trying to make his supporters not trust the fed and turn the fed into an enemy of the people and basically would use the public trust in the central Bank, which I think has not been done. But we've presence. Well, although you had I guess it just depends. But yet to a certain extent, I'll give you a little bit of that. But you're you're talking about Nixon trying to like actually looking into actually diluting the power of the fed actually affecting. I mean, he actually affected policy. So yes, we can make the argument that Trump is. More of this in public, but he's being less effective than previous. If you if the point is that we want an independent fed..
"arthur burns" Discussed on AM Joy
"He was a builder and builders always liked to borrow money at lower interest rates. So that's fully understandable. You know, he has always wanted lower rates and when Powell moved the rates this time, and it happened to coincide with a modest, a reasonable fall in the market. I think he, I think he criticized Powell politically to a large. Extent, but he did credit. He used to tweet Janet Yellen about why won't you increase interest rates and it's hard for savers and hard for. So he has changed his position on at At least. least when he wasn't president. It does matter whether interest rates are zero or two and a half percent. The level of interest rates does matter. But you're correct. I mean, you know, he has been against the Obama fed, and I think he quite correctly is Janet Yellen kept interest rates way way too low, which destroyed the flow of capital into the housing market. And that's why we had ten years or nine years of the lowest. New housing starts pretend thousand population in US history. They caused the great recession my view, but you know, rates are going up and I think he was just caught off guard on the stock market dropping. He decided to criticize Powell. Okay. So one of the problem it looked presidents, never like it. When interest rates go up prior to an election. Nineteen two. Alan Greenspan got criticized for it. But here's the issue guys like you like low taxes. This tax Bill that passed was supposed to do daily of corporate taxes. It was supposed to lower the rate and broaden the base so that everybody actually paid the rate, but they didn't close a lot of loopholes in the net result now is that we have, we are headed toward yet bigger deficits. How do we square this? Well, I don't think we really are headed towards bigger deficits and you don't have to close the loopholes by law late to have not be effective. You know, when you drop the rate from thirty five percents to twenty one percent, tax evasion is less attractive. Now you don't have to change the laws about tax evasion. It's always been illegal, but it makes it less attractive that it'd be a lot less of it. The same thing for tax shelters. The same thing for corporate forms the same thing for secondary taxes. The same thing for where you locate your plant facilities. All of that doesn't require specific legislation to get people to do that. They do it because they have incentives do it, and they and they do it pretty darn well. I want to show you the stock market for the last few presidents we have seen. We've seen this this market that we're in largely go up starting about March of two thousand eight. Now we've seen looking at the last few weeks. I think it's still ahead year today by about two weeks on the s. and p. five hundred. Are you particularly worried about the increasing interest rates and the effect that it's going to have on the stock market? I do believe very firmly Ali that we should raise interest rates over the next year or so to bring them back to normal market rates. If we're going to have a boom tips yield the real return on capital has to be in the two and a half percent to three and a half percent range. And if that's the case, adding on a two percent, inflation premium, I think the ten year bond should be somewhere in the four and a half to five and a half percent range for a good long prosperous economy to be there. So I think Paul is right in allowing rates to rise to adjust to the market levels, and I have very little Chris. Some of them except for perhaps the timing twenty five days before an election. I've been involved in all of this in the White House when I was there in seventy two seventy two yelling at Arthur burns for the same reason. And in fact, Nixon credits Arthur burns with his loss, you get a little bit of the super set to savings account right now. If you look a little harder, you have a little more money to put away..
"arthur burns" Discussed on WBZ NewsRadio 1030
"The threes what's the latest Chris producer. Arthur burns just gave me the way that, the, crash northbound on the route one twenty eight right up by great plain app has been cleared out, of the way just a minor delay getting through their twenty eight does well other than. That and route twenty four and. Ninety five northbound coming up to route one twenty eight they're just a little bit slow over on route, three you're heavy at union street and that's it, on the, expressway. You're gonna make it all the way up to granted avenue that's where the brakes go on. What you get past Morrissey boulevard at stretched too thin out. You're doing much better not too too bad on the expressway after that still some volume on the pike unfortunately making where. You spout from what twenty eight thousand three hundred sixteen beyond that you're in good shape seeing some heavy delays again on the eastbound side. Of soldiers field road, making toward BU it. Does open up. After. That not, bad on Storrow drive from the longfellow bridge are getting to the longfellow bridge in either direction downtown though the Tobin bridge still company getting into the city square tunnel lower deck of ninety three's back to route sixteen the Leverett down ramp is jammed up right around the garden north of town though it's a fine ride on route one one twenty eight or ninety three route three no problems. There for you next update is at nine forty three. WBZ's traffic on the threes time for a. Check of the. Four day AccuWeather forecast now with meteorologist Elliot Abrams they began. With areas of low clouds fog and some drizzle however the day overall be cloudy Bekasi partly. Sunny cooler than average. For this time in August high seventy. Three turning cloudy tonight more you a couple. Of showers late low sixty seven tomorrow humid and warmer with clouds and some sunny breaks long with a. Couple of showers and thunderstorms high eighty two Thursday mostly sunny less humid high seventy eight..
"arthur burns" Discussed on Bloomberg Radio New York
"Well the fed finds itself on President Trump's list of factors undermining America's, competitive edge in a tweet he wrote the United States should not be penalized because we are doing so well tightening. Now hurts all that we have done the US should be allowed to recapture what was lost due to, illegal currency manipulation and, bad trade deals the US dollar slumped after the latest. Dose of criticism aimed at policy. Makers I. Know, Mara whilst Gary when you read. These tweets when we talk about the dollar. There's a couple of different, things go through my mind this week's going to be a big week for short dated. Paper in terms of the. Auctions having a good this this is the pricing up the fed at the moment for two thousand eighteen. Twenty nineteen will markets be forced to re price the fed moves twenty nineteen I think they will I think that's the direction of travel, if you go back a month ago there was almost emphatic view that's the fed was going to. Just power on increasing interest rates and that seems to have, unwound and in the background. A couple of things have changed firstly some of the fed governors seem to be saying as James Buller. Decided in recent days you. Know I think we're done, I really don't see the need, for further significant increases a Secondly some of the inflation. Expectations that have been powering higher over the last six months of starts reverse and in the, most recent report from. One of those surveys it come down quite dramatically so couple of the factors that were powerful in place for further significant rate. Increases are now in abeyance Gary Reading we're getting the analyst comments coming through started the show by saying the Credit Suisse had, said Trump's aggressive tweet will keep pressure on the. Greenback there's a barrage of negative commentary coming. Through are we going to see a rerun of the dollar decoupling to rate is the dollar because we're seeing the hedge, funds of, course Cup that position are, sorry record positions on the. Dollar is this a very crowded trade that's risk of falling? Apart I think it is. Necessary if you go back a month ago if interest rates we're going to keep powering. Higher cost you'd hold the dollar but as people start to question that we're seeing some unwind, and hedge funds have been struggling for returns there. Tends to be a number of very crowded, traits in the market and this is one of them so we start to see something of an wound it could be, the kind, of masses running away from, that we could see that. That's all it down to three percent and a trade-weighted basis Gary I. Want to go back to Trump's tweets because it's I I was about to say it's rare to see a US president putting this kind, of pressure on the fed. But it's not actually, we've seen, various examples throughout history I've never seen so many people bring up Arthur burns, in the past, two days well for a while I have to say I. Put together, a facetious charts you can pull it. Up on GTE on your Bloomberg and it shows the US tenure yield versus. The Turkish, ten year yield I know where I'm going with this we have, an example of another country. In the world right now where a, president is putting, a lot of pressure on a central, Bank and this is. The result what are the chances if any that the that Trump is able to influence the fed ends. In some way maybe not directly but there are vacancies on the board, that he's gonna fill for example. I think you'll be a shade disappointing people start. To interpret the feds future policy based on what he's just. Said I said I think that are good reasons for more of a debate about The, pace. And the scale of the future increase in interest rates and, as I say they're fed governors already saying with them we don't need to do much more right then maybe, they'll just stand Pat, and then those site will President. Trump made them do it I don't think that's the case I think he's a. Me, he is a, lot of noise I, think particular monetary policy he's just. Saying something from the gut feel of what he's seeing something that might be saying said down a Bob by anyone the United..
"arthur burns" Discussed on WAFS Biz 1190
"Us for the latest financial news and information keep it locked on biz, eleven ninety and moves twenty nineteen I think they will I think that's the travel go back a month ago. There was almost emphatic view that's the fed was going to just, power on increasing interest rates and that seems to have unwound and in the background a couple of things have changed, firstly some of the fed. Governors seem to be saying as James Buller decided in recent days I think we're done. Already, don't see the need for further significant increases a Secondly some of. The inflation expectations that have been powering higher over the last six months of starts reverse and in the most recent report from one. Of those surveys it come down quite, dramatically so couple of the factors that were powerful. In place for further significant rate increases are now in abeyance Gary Reading we're getting the analysts comments coming to nice started the show by saying the Credit Suisse had, said Trump's aggressive tweet will keep pressure on the. Greenback there's a barrage of negative commentary coming. Through are we going to see a rerun of the dollar de-coupling to rate is the dollar because we're seeing the hedge, funds of, course Cup that position are sorry record physicians on the. Dollar is this a very crowded trade risk of falling? Apart I. Think it is if you go back a month ago if interest rates we're going. To. Keep powering higher cultured hold the dollar but as people start to question that we're seeing some unwind and hedge funds have been struggling for returns tends to be, a number of very, crowded trades in the market and. This is one of them so we start to see something of an unwound it could be the. Masses running away from, that an easy we could see. That that's all it down to three percent and a trade-weighted basis Gary I want to go back to Trump's tweets because I was. About to say it's rare to see. A US president putting this. Kind of pressure on the fed but it's not actually we've seen various examples throughout history I've never, seen so many people bring up Arthur burns in. The past two days for a while I. Have to say I put together a facetious charge you can pull it up on TV on your Bloomberg and it shows, the US, ten year yield versus the Turkish ten year yield I. Know where I'm going with this we have an example Of another country in the world right now where a president is putting a lot. Of pressure on the. Central Bank and this is the result, what are the, chances if any that that Trump, is able to influence. The fed ends in some way maybe not directly but there are fake and sees on the board that he's gonna fill for example I think you'd be a shade disappointing, people to interpret the feds future. Policy based on what he's just said I said. I think there are good reasons for more of a debate. About the pace and the scale of the future increase in interest rates and as. I. Say there are fed governors already saying with them we don't need to do much more right the maybe they'll just stand Pat and then those site will President, Trump made them do, it I think that's the case. I think he's he is a lot of noise I think particular monetary policy he's just saying somebody. From the field of, what he's seeing something that might. Be saying said down of Bob by anyone in the United States but it's not so much about that it's about some of the. Factors that would driving interest rates higher. Have starts to come Back maybe, the fed are going to take notes that. A maybe we won't get the, scale of interest rate increases that previously print projected yeah fair. Enough or maybe we get. The fed overcompensating by hiking even more just to. Make a point who knows. All right thank you Gary Dugan chief investment officer over at, NoMura wealth advisors well coming, up do you buy telco do sees a boost in, second quarter profit but where is it. With its rollout plans our interview with the telcos CEO is just ahead this is Bloomberg From. Tough mudder to.
"arthur burns" Discussed on Bloomberg Radio New York
"The points that we got in the fed prior to this which for. Really the hand of Gary Cohn who's now left David ministration are. Independent members of the other times we suffered through this, kind of crisis of independence within the fed we've. Also had week on people around the fed chairman dick couldn't help them navigate those more turbulent waters and I, think now we do Have a lot of people that are very committed. To the independence of the fed to be able to help that. Happen dine perhaps to call it a crisis a Federal, Reserve independence but typically when the Federal Reserve's independence. Is stepped on it's typic- era Of crisis I mean, it's not one GDP's close to three percent and inflation's low and unemployment's low and everything seems to be okay with just gives you sort of the question in my own mind whether. This, could get a whole lot worse, over the next couple. Of years if the economy isn't performing the way this, administration would like Yes I mean this is already. The fed has been opinion a political, opinion since two thousand. Eight when, it intervened to try to help the US economy became an easy scapegoat and its attacks on its independence are boats are bipartisan in nature so the fed is in a much more precarious situation that has been in the past let's go back to the nineteen forties he went. Back to Arthur burns time but, the nineteen, forties you know the fed was pushed. To, print money. To pay for World War Two ended, up with double digit inflation and recessions and Truman's own what he thought loyalist. To become the head of the fed. Became the, one who. Define the, Fed's independence and defied Truman and helped us immensely but also someone who got Nixon very angry very early on in his political career John it's important I don't mean to cut you off but I think it's important with Dr swaps is there which is, the idea it was bad before nineteen fifty one oh yeah One. Thousand, nine hundred. Fifty one to dance point even after, their pointed mcchesney Martin there was still tension. Between man who said his job. Is to take the Punch Bowl away. From, dying We don't we don't do that on surveillance It's interesting Tom that we had. Pulled Tucker on a couple of months. Ago the former Bank of England officialese yes and Paul really pointed out in his new book on elected power that we, now have, the third, pillar of unelected power the military the judiciary and now the Federal Reserve central bank's monetary, policy within that pillar the Tralima these challenges Diane Swonk Arthur burns didn't have to worry. About Twitter, or the speed of cable news I mean he. Had a pipe and he was smoking it and. Every fourth, week they put out three adjectives I mean. It's changed higher career threatened his entire career they leaked out a story, saying he was asking for triple his salary which was not in order to get him thrown. Out as chair of the Federal Reserve on they threatened it and it went through the newspapers and they used. The news, to leverage that leverage against him that said I think it's really or stating restating right now for all of the noise we've seen and I'm very. Concerned about tariffs, and independence. To the fed it has become That, noise that we almost tune out to financial. Markets have not reacted nearly as dramatically as one would expect really believed, every single tweet that was tweeted about economic policy during sort thank you so much for the. Michigan history lesson this is what you do John when you get three degrees at the university of Michigan you. She steeped, in history that was really really nice sort of historic Federal Reserve independent gender point of market stability DX at ninety five I mean that's pretty much. Rock here yeah Stolt the is stowed yeah I'll go with that absolutely no question of, that we'll, continue this conversation so many news items today including General Electric earnings John Farrell and. Tom Keene, this is Bloomberg stay with. Us Bloomberg market I'm Pimm, FOX, and I'm Lisa Abramowicz. Where to take a look at the selloff in metals how long can they continue plus we get earnings from GE Honeywell State Street and Hasbro today at ten eastern on. Bloomberg radio Bloomberg the world's of listening this is a Bloomberg market minute shares.
"arthur burns" Discussed on Bloomberg Radio New York
"Whom burg business flash tomen john karimu fling so much not much herb loans on scorn kankkunen's disney everybody's sort of waiting is wellmade will do them major john farrow term kingpin frogs shadow toured team yesterday who just killed themselves to give us the best interviews we could give you on mr roberts in the announcement of his potential transaction steve iceland with us right now with uber berman and i guess not to talk about emanate but talk about a new fed you stated earlier and ensure you're going to state again we should care about the fed and yet we followed were by word don't we well let me rephrase what you just said it's all we should care what the fed does it stepped the testimony that powell made yesterday people cut excited over nonsense i mean what what i mean what did he say size he said he said that if the economy is good no kidding and then he said if the economy gets stronger maybe they'll raise rates four times versus threetimes really shocked and then an and what he didn't say was it at the economy weakens they'll raise rates lessened threetimes what like dr i mean people get on this program every single day and say the economy is strong with powell says it than people get hysterical it's ridiculous is investors do better when wall we had was the pipes smoke of arthur burns oh god author burns was a terrible chairman that's also can we get to what the fed chair actually said the one line and i agree with these steve it's ridiculous that this one line is enough to move global markets but it's the one line my personal outlook for the economy is strengthened since december the idea being the oak cabbage strengthen since december a movement dot up from three hikes to fall said okay low kidding so the market shifts you send a market shouldn't shift or he said the market to just look through the most ridiculous i mean look i studied talbot as a kid inner used you read every single word as if it was god okay every sense that comes out of powell's mouth.
"arthur burns" Discussed on AM 1300 Business Radio KKOL
"Low unemployment rate you begin to get an increase in labour rates that increase was accelerated because productivity was slowing down a lot of the same factors to hear about today's productivity is slowed down we have four point one percent unemployment rate you know it's also commodities at that time they were relatively stable in the '60s the gis began to rise a little bit in the 70s when oil prices went up now at that time at the time that we started to see inflation pick up we are also started the c and a recession happen from sixty nine to seventy we started to see the beginning their recession by 71 we were into a recession and in 72 was the election 72 following that election richard nixon appointed arthur burns as chairman of the federal reserve and there were concerned about the recession that was taking place arthur burns his expertise was in business cycles and they wanted to put pressure into the economy to make the economy reverse this recession and begin to grow again and so what they began to do is the began to print money in a we did that in two thousand seventy thousand eight you remember we went through the tarp program we went through the federal reserve buying bonds in the open markup we went through the treasury put him money and stimulus into the economy that's what we mean when we say we print money that money went in but in two thousand seventeen thousand eight unemployment was ten percent capacities had been lehnoff people and so they were underutilized but if you look back and 19th sixty nine the employment rate was three point five percent labour was really tight and so by pumping more money into the economy what that did was actually begin to push up commodity prices and it began to allow people to raise prices and pay more the unions were involved in a if you look back and people say the reason we got into this whole thing is because of massive deficits supported by the politicians we went through under johnson we went through the great society we went through the initiation of medicare we increase social security we did.
"arthur burns" Discussed on AM 1300 Business Radio KKOL
"Federal reserve from making fifty one to nineteen seventy was william mick chesney martin he was appointed by trouin served under eisenhower kennedy johnson and nixon trained in englishman latin at yale he didn't have a financial background for new went to work for ag edwards he got a seat on the new york stock exchange in 1931 at the time of the great depression so his raked his focus was regulation of the stock market he didn't didn't really see inflation picking up until the late '60s and at that time we were seen inflation pick up in the beginning of a recession at that time richard nixon was president a worried about what was going on i wanted a head of the federal reserve who was more political in the appointed arthur burns had been trained and got his degrees of columbia he taught at rutgers from 1927 to 1944 so we lived through the great recession his expertise was in business cycles not in economics but in business cycles and he had a reputation did he was strongly influenced by politics so we amac chesney martin had started to tighten the monetary started to raise interest rates squeezed down one on the growth of money arthur burns reversed that and pushed for an expansion of the business cycle because we were going into a recession and having lived through the great depression having worried about the great depression arthur burns wanted to make sure we didn't get into a great depression serie wanted an expansion and what we got was not an expansion what we got was stagflation we've got a recession with inflation my concern on the longterm is a powerless not an economist his a lawyer his in invest came out of investment banking and twice before we've had lawyer says fed chairman and it wasn't good in either case not good at all maybe power i'll be different may be all things will work well maybe power will be a very very good chairman of the federal reserve he hasn't even started his service yet but my concern is there but concern is there i think it should be your concern i think you should look forward.
"arthur burns" Discussed on KBNP AM 1410
"The usual for the we can do that with peter hooper with torture bank with his wonderful experience international economics to the course central bank watching as well you mentioned earlier this morning dr hooper the dots you and i would not have talked about the dots x number of years ago arthur burns didn't have dots chairman greenspan didn't have dots cheer yellen as dots do you assume that any central bank by definition reacts after the fact that can be dots don studs thoughts none of it matters because they have to wait in be what the latins call ex post well the dot mrs a in a in a long train of increasing transparency that transparency the fed letting it letting the market know letting the public know what their expectations are where they expect to be an exercise again exercise shut do they have to wait in be ex post as mr timberlake of georgia and frankly zana schwartz and others have written about the in meltzer they have to react after the fact right well they they react to incoming data no question but at any point in time they have an expectation about what's uh with with what's going forward i think you know the spend a lot happening recently the the the shift in the fiscal policy the shift in the shift towards a somewhat higher inflation um so the likelihood is we're going to see some some movement here in reaction to what's been going on yeah but uh now when i say some movement i say we'll see some of the dots move up uh to get to the media and that there's right now the the what the chart looks like there are six fomc participate as worker and radio there are six thirty six clustered around of course went around three three rate hikes next year yeah uh for those would have to move up to get the media in the move okay because there are five above and they're quite a bit more below so uh the.
"arthur burns" Discussed on WRVA
"It was something that than heavy had been pressed into the ground so it wasn't like yacht lobbies and more got shovel out and does the moles and make them look good there were a couple of circular marks uh there that they thought might have been some kind of a ladder that come out of the is some kind of hype things there that though richard holder who was the up range commander that the um italian commander at white sands which was uh his duty station was closer to the coral than it was alamogordo he was one of the first people call then you've got um uh sam zamora i'm have is getting their look and patient um there's a boy that seems to be smoking as if the scott scorched is there but it wasn't it was it was cold of the type jewish smoking but it was cool to the touch and later analysis from samples eight took found no evidence of any kind of accelerate there were no petrochemical evidence is on it so they don't know what caused it to to burn and sponsors bern grass rounded as well uh that they took samples of the holder took samples the thing that kind of made me laugh about this is i i was wondering what happened to the samples that holder tough and great stanford says that gene when he was out there and hynix out there hiding didn't have anything to collect samples and he thought that was odd but i learned that holder gave oversample he had taken to hynix so he had plenty of samples there were taken that very evening that the thing to a cost me other thing takes often disappears in the distance but there were a number of other police officers and officials had cameras holder got out there that night uh the fbi agent burns arthur burns got out there burns said or in holders reported says that don't mention that the fbi was involved which i thought was this five years before we landed on the moon yeah this area i'm told was also steen site for the lunar landers that they would test thou they would you know they're they're.
"arthur burns" Discussed on WBT Charlotte News Talk
"United nations any john means that the rebels see your get there were landing gear traces there before landing gear while agrout when they made their measurements they realize these weren't excavations have been heavy had been press in the ground so wasn't like yacht lobbies and more got a shovel out and doug some old make them look good they were a couple of circular marks uh there that they thought might have been some kind of a ladder that come out of the crap and there was some kind of print hype things there that that recordholder who was means commander that the um stallion station commander at white sands which was uh his duty nato uh the coral than it was to alamogordo so he was he was one of the first people call then you've got um uh hand the more up uh i have is getting they're looking at this he sees the indentation um there's a bush that seem to be smoking as scorched there but it wasn't it was it was called the khatchewing smoking but it was cool to the collagen later analysis from samples they took found no evidence of any kind of accelerate there were no petrochemical gene uh i don't know who two beneath burned kgb surrounded as well uh that they took samples of a holder took samples the thing that kind of made me laugh about is i i was wondering what happened to the samples at holder tough kim grace stanford says that that when he was out there in heine quiz out there i didn't have anything to collect samples and he thought that without earned their whole behavioral the samples that he had taken to hynix so he had plenty of samples bagged thing to a car and takes off and disappears in the distance but there were a number of other police officers and officials that came out holder got out there that night uh the fbi agent burns arthur burns got out there burns said or in hobart reported says that don't mention that the fbi was involved which i thought was now this happened five view landed moon yet this area untold was also a testing site for the lunar landers that they test now bagged would neither would come down with their engines running in they'd have parachutes but they.
"arthur burns" Discussed on KQED Radio
"Man dan the other big economic news this week has to do with these name's chief you know who they are charles hamlin mariner eccles arthur burns now who they are what are they have in common they are all former chairs of the federal reserve and as it turns out the current chair janet yellen will soon be a former as well on thursday president trump nominated current fed governor jerome powell as her successor the fed affects all of our lives but you can be a little confusing to understand so for this week's five things what you need to know about the fed we've roger low in steam author of america's bank the epa big struggled to create the federal reserve we start with point one what's the feds job also sense first job one though the american israel's hulu is raising or lowering interest rates of these rates that determining the how much cost barlow car sales for the federal reserve would just seven members makes this decision without both is said rose your bank presidents but the leader this board said reserved chairman and generally the born follows the signature all right point you what's if a deal with inflation well we just learned this affair has the job of raising or lowering interest rates plus sometimes it's it said lowers interest rates too much more people borrow all those other things is a fog this that would be more demand for when prices go up in what he though this flation so of citizens ward the part of his official job to the ventilation sort bows inflation vehicles on three what can the federal reserve tell us about the economy well by congressional statue of the said as a job making sure that the salary dozen growth quickly to say generate inflation but it has a job of making sure that if he doesn't grow too slowly people's jobs and so on so it monitors grows very carefully regions with treasury every industry it is enormous consumer of economic statistics in the choice for together which richmond just or how and where us israel all right what about the stock market will officially it's the feds job to worry about saved the.
"arthur burns" Discussed on Marketplace All-in-One
"The other big economic news this week has to do with these name's chief you know who they are charles hamlin mariner eccles arthur burns now who they are what are they have in common their all former chairs of the federal reserve and as it turns out the current chair janet yellen will soon be a former as well on thursday president trump nominated current fed governor jerome powell as her successor the fed affects all of our lives but it can be a little confusing to understand so for this week's five things what you need to know about the fed we've got roger lowenstein author of america's bank the epic struggle to create the federal reserve we start with point one what's the feds job also sense first job one that i think americans who will soon be is raising or lowering interest rates of these the rates that determining how much caused by a car sales by one of the ball for the federal reserve would just seven members makes its decision with the help of various fed your bank presidents but the leader this board is the federal reserve chairman and generally the born follows two said chairman all right point you what's if a deal with inflation well we just learned that the fed has the job of raising or lowering interest rates sometimes it's the fed lowers interest rates too much of a seek more people borrow people borrow that has spanned other things that they bar there's going to be more demand for when prices are going to go up.
"arthur burns" Discussed on WBZ NewsRadio 1030
"Was immediately arrested he'll be arraigned on weapons charges today in ease boston in other top stories that come out bridge replacement project is right on schedule but inevitably traffic delays are building because of the construction the pike right now is down to one lane for now on the eastbound side until two o'clock this afternoon between the allston brighton interchange and a beacon street overpass and two lanes remain open on the westbound side meanwhile a wbz radio traffic producer who's been watching traffic flow in an out of the city for years is weighing in on the impact of the project as we hear more from wbz's kim tunnicliff significant but not as bad as initially anticipated that's how traffic producer arthur burns's describing morning drive delays drivers were being warned to expect tie ups of up to an hour and a half but to this point ninety east has backed up to about newton burn says there's been a few mid day traffic snarls that have taken some people by surprise yesterday they'd heard elaine restriction in the middle of the daily offer were there broke thrown perked one learn through to his own brundle over the clark and it was a lot worse than people are you still in the middle of the day so people were at times frustrated burn says mascot has done a good job of preparing drivers by announcing the closures well ahead of time and urging people to plan ahead kim tunnicliff wbz news radio 1030 and now this story the department of conservation and recreation dcr is issuing a warning to the public stay away from the charles river lower basin in boston as well as cambridge that's because cyanobacteria is blum the dcr says pet owners should also keep their animals away from the water as well the water will be retested until bacteria levels are within acceptable limits meantime will let you know when the dcr says it's okay to go in the water and governor baker says he will sign legislation today that increases health care fee and fines on employers baker says the two hundred million dollar increase will help pay for mass held without the reforms to the program that he had wanted baker says he's putting his faith in the legislature to follow through on pledges to work with him this fall to control growth in medicaid as well as health care spending wbz news time eleven o3 traffic and weather together the subaru retailers of new england allwheeldrive traffic on the threes here's jim ryan and by the way it's brought to you by the league of new hampshire craftsman's fair all right thanks gene of.