31 Burst results for "Ben Bernanke"

Deal on Fed removes obstacle to agreement on COVID-19 relief package

Marketplace with Kai Ryssdal

04:15 min | 1 year ago

Deal on Fed removes obstacle to agreement on COVID-19 relief package

"There are two things going on with this two point three trillion dollar package. Congress is working its way through and the fading hours of this year one point four trillion dollars to fund the government through next september and nine hundred billion dollars in pandemic economic relief. It looks like and one stress is looks like because you never know but it looks like the thing is gonna pass and we're going to talk about what's in it through the program today but over the weekend. There were some hiccups. The biggest of which centered on the federal reserve. and what it will and won't be allowed to do genus. Molly covers the fed for the new york times. Also she is a regular here on friday. Hey gene hey so in. Lay person's terms here if i might What was the up. With the fed and senator toomey and the feds authorities so basically the fed did a couple of emergency lending programs in this crisis that it has never tried before it bought corporate bonds it bought municipal bonds and it lent directly to small size businesses via banks and so all of those programs were real sort of departures. From what we've seen in the past in senator. Toomey wanted to make sure that they couldn't happen again. He said that congress had intended for them to only lasted twenty twenty one and so he inserted language into this bill that would have basically prohibited them or anything similar to them from ever happening in the future. Without congress. congress's approval. Compromise was what the compromise is that we made that were similar. Same which sounds pretty simple right down like a big deal but it was a big deal. Because i think the way that similar could have been interpreted is to mean that basically any sort of credit like program would be impossible in the future. The way democrats are painting the word same means that specifically these exact programs set up precisely the way that these ones were set up cannot just be restarted. Once you know the next treasury secretary presumably janet yellen who's likely to be the nominee for that job is in place next year. And so the idea is. You can't have this immediate copycat but you could potentially do something. That looks a little bit like this way down the road if there's another financial crisis will that's my next question right. This is really about the crisis next time because there is another one come in as we know right and i think it's it's you know it's worth noting that some of these markets at the fed intervened in this time municipal bond market. I think being a good example. They were melting down in march. You know the the fed stepped in and and gotham tour again but there was a moment there where it was looking pretty dicey in corporate bonds and municipal bonds and so the idea that this legislation would just take away all of those powers. I think could definitely raise some concerns among people certainly who work markets but i think also people who are concerned about you know who has crisis fighting power who saves us first. How much what was going on here was about fed independence and its ability to do what it sees is right. I note that Chair powell has not said a word We had rob kaplan from dallas on On friday and he ducked my question on at. Your brunetti actually said something over the weekend. Right right i think the fed has been caught in some political crossfire here. And what i mean by that is democrats. Have kind of been eyeing these facilities that the fed set up this time and thinking about how they could enhance them to make them more generous once. They're in office. And so the idea is you could potentially use things like the municipal program to really funnel cheap money to states and localities. Now the problem is all of your listeners. Will be aware is that democrats tend to be much more concerned about those constituents than republicans are and so the idea is the fed could be used for political means in. That's why senator to me was really concerned about the future of these programs I think the fed basically wants to stay out of the political conversation here. The important wants to gets missed is they would have had to agree to that. Sweetening up of the municipal facility But yes they got caught in the crossfire. Little ben bernanke you wait into say. Hey don't take away powers. The fed used to have and that it needs but even his statement was done in very a political terms. I think you very very burnett elect terms genus alex. She covers the fed of the new york times and here every now and then on a friday june. Thanks a lot appreciate. Thanks so much

FED Senator Toomey Congress Janet Yellen Toomey Molly The New York Times Chair Powell Rob Kaplan Government Treasury Brunetti Dallas Ben Bernanke Burnett Alex
"ben bernanke" Discussed on Biz Talk Radio

Biz Talk Radio

03:07 min | 1 year ago

"ben bernanke" Discussed on Biz Talk Radio

"So for the past Many, many weeks. We did something We usually do not. We outlined for you a potential for a melt up in the markets. Lookinto 1999. Though we've also given the disclaimer 99 saw a lot of stocks grow fivefold plus Into the climactic run. And we've told you already with the NASDAQ that it was very narrow. And what we have been telling you lately specifically. With the NASDAQ types first and foremost. Just looks like the set ups there. It just looks like it. Doesn't mean it has to happen. We just wanted to let you know the potential was there because it's an outlier event. It's something we've studied. And then you combine the other part of the equation. What we consider to be the simple part of the equation. The morons. The embassy ls that doofus is That are killing us. Ultimately In government and central banks with massive money printing. Which is causing what we are saying. And we did the little addition. We'll even need our rusty abacus. Just one plus one equals two. All we had to think about what we covered this so many times. When Ben Bernanke announced and did print a trillion dollars over a year's time, the markets soared. Just a trillion bucks over a year. You now have a maniac here that has just done seven trillion bucks and says they're unlimited amounts. Europe seven trillion who knows what else across the globe? Knowing what printed money have done for asset prices while screwing the savers. We had tto outline of fear because on a daily basis The action we are seeing is telling us the potential is there and it's now really starting to prove us out. And recently we've been telling you that the rest of the market that has been so laboring because of the virus If that can start moving, you're going to see the S and P and the Dow types catch up. One plus one equals two. It has nothing to do with earnings earning suck. It has nothing to do with sales sales sucks..

Ben Bernanke Lookinto Dow Europe
"ben bernanke" Discussed on Biz Talk Radio

Biz Talk Radio

03:08 min | 1 year ago

"ben bernanke" Discussed on Biz Talk Radio

"So for the past Many, many weeks. We did something We usually do not. We outlined for you a potential for a melt up in the markets. Lookinto 1999. Though we've also given the disclaimer 99 saw a lot of stocks go up fivefold plus Into the climactic run. And we've told you already with the NASDAQ did. It was very narrow. And what we have been telling you lately specifically. With the NASDAQ types first and foremost. Just looks like the set ups there. It just looks like it. Doesn't mean it has to happen. We just wanted to let you know the potential was there because it's an outlier event. And it's something we've studied. And then you combine the other part of the equation. What we consider to be the simple part of the equation. The morons the embassy. Lt's the doofus is That are killing us. Ultimately In government and central banks with massive money printing. Which is causing what we are seeing. And we did the little addition. We'll even need our rest. The abacus, just one plus one equals two. All we had to think about what we covered this so many times. When Ben Bernanke announced and did print a trillion dollars over a year's time. The markets soared. Just a trillion bucks over a year. You now have a maniac here that has just done seven trillion bucks and says they're unlimited amounts. Europe seven trillion who knows what else across the globe? Knowing what printed money have done for asset prices while screwing the savers. We had tto outline of fear because on a daily basis The action we are seeing is telling us the potential is there and it's now really starting to prove us out. And recently we've been telling you that the rest of the market that has been so laboring because of the virus If that can start moving, you're going to see the S and P and the Dow types catch up. One plus one equals two. It has nothing to do with earnings earning suck. It has nothing to do with sales sales sucks..

Ben Bernanke Lookinto Dow Europe
"ben bernanke" Discussed on Biz Talk Radio

Biz Talk Radio

03:01 min | 1 year ago

"ben bernanke" Discussed on Biz Talk Radio

"And the Fed, not doing their job over single ended. Hear no evil. See? No evil speak no evil. I told you on this show about somebody who I knew had eight grand in the bank got a 280,000 mortgage on a house. They paint 250,000 for pocket and 30,000 But it's still all debt. We told you stories about people lining up in Miami in a vacant parking lot, nothing but a trailer and putting down a little bit of money on a condo that was supposedly going to be built. Signing the papers, putting it up for sale immediately, selling it within a week's time and pocketing 50,000 bucks. Because somebody was waiting a bit higher. And all of Wall Street packaged all these securities into a nightmare of leverage. That's why the house came down. Brought to you by easy money by the Fed brought to you by the Fed, not doing their job overseeing these morons at the lenders that were lending money with anybody with a pulse. And didn't even have the second payment. So it all blew up and it was because of Bernanke. It was because of the lenders. It was because of Wall Street. It was because of the leverage I was asked tonight after 10 and 11. Markets crashed around the globe, 56% just about every asset. And it happened because of the easy money and too much leverage in the system. People on Wall Street. Committed fraud should have been indicted. There was not one indictment, not one of the crooks went to jail. In fact, they all kept their jobs or got promoted and made billions ever since. Because the fix is always in. Screw you the savior. You get 0%. We're going to take care of Wall Street. So we the taxpayer had a pony up $800 million that they keep telling us. We got paid back. Did you see any of it? You didn't see squat because it's a lie. So what did he do? He fixed a problem of leverage and debt. With even more Leverage in debt. But this time What at the time was considered to be A gargantuan move. Ben Bernanke took rates down 0%. Barack Obama had rate 0% his whole time in D. C. And The printing off money, the actual creation of money out of thin air..

Fed Ben Bernanke Barack Obama Miami fraud
Are Negative Interest Rates Coming To The US?

Houston's Morning News

05:35 min | 1 year ago

Are Negative Interest Rates Coming To The US?

"Negative interest rates coming there is a better economist the fed economists I should say in Saint Louis the one wrote in a paper that if we want to get a V. recovery we need to look at negative interest rates so is the fed going to look at that and I wonder I wonder if Jerome Powell is willing to go along with that idea join us to talk about A. K. T. R. H. money man patch in what's the likelihood of negative interest rates back well in a very good morning to you jamming in fact let's just mention real quick when we look at interest rates remember there's an entire spectrum of interest rates that run anywhere from overnight all the way up to thirty years we call that spectrum a yield curve the federal reserve today directly sat the overnight lending rate and I guess I should say in a normal environment the market they set up all of the other rates two year five year ten year twenty year thirty year but right now the federal reserve is directly influencing all of those rates because they're going into the open market and they're buying up all of these bonds so the chance of a negative rate is very very very low federal reserve chairman Jerome Powell has been asked this question before he's against it for a couple reasons one Germany and Japan currently have negative interest rates along their curve not all the rates but if you go out to to say ten years on Germany as an example their their rate is negative same thing for Japan or their rate in Japan is zero so don't pal points out Europe and also Japan and says look it hasn't really worked out hasn't done anything to stimulate the economy the other thing is that it makes it tougher for banks to make any money if rates are actually negative in fact it may cause banks to lose money and so Jerome Powell has come out against it yeah really the interest rate really it has an effect on consumers but it's really all about the banks and trying to keep the banks open to making money by lending money and getting it to the people correct you you are absolutely right Cher and I should mention that you know right now we are seeing and on believable I mean off the charts amount of stimulus coming in people are scratching their head wondering why the stock market's been going up in spite of record bad news and right now the federal reserve is you know going into the open market every day and they're buying up various assets now they don't buy stocks but they buy primarily government bonds to keep interest rates you know very very low they're now buying corporate bonds and they're buying tax free bonds and so the federal reserve has been going on on a daily basis and buying up all these assets I think one very very big misunderstanding that I see basically everybody get wrong is when you see this being discussed on television they show a printing press they show hundred dollar bills going across on a big printing press and being wrapped up on a pallet it's important to know all the programs that the federal reserve is doing right now do not require printing any money instead banks remember banks are required to keep money on deposit at the federal reserve the fed is simply borrowing money from these banks but right now you can actually go on the way out of the federal reserve discloses that daily right now the federal reserve has assets on their books right now of over seven trillion in dollars yeah you know but the hundred dollar bills looks so good on TV packs got me going let's let's talk a little bit Jimmy there are and you would be a I'm yes you would be able to come up with a dog absolutely I got special scissors does for that matter all right let me quickly ask you about mortgage interest rates hearing fifteen year loans are as low as two and a half percent right now the housing market is doing surprisingly well what we think is going to happen with mortgage interest rates accent so yep and so the federal reserve is targeting rates that was one of the thing that former fed chair Ben Bernanke dead back after the financial crisis in oh wait or no nine and it worked really really well and so right now you've got rates at record lows we think they're going to stay low for a very long time if we do see the economy start to pick up in the third and fourth quarter and we see longer term interest rates start to move up the federal reserve will use some of their ammunition and go in and buy up bonds in the open market in order to keep interest rates down so of all of the things that we could look at and do right now it is a wonderful wonderful time to refinance a mortgage not every loan is is is going to be favorable to refinance remember you've got to pay for a number of up front tight cost things like the title policy but you would want to call a mortgage professional and ask them if it makes sense to refinance and specifically asked how long do you need to go before you reach the break even point yeah and you generally have is what lesson five years you're good good to go yep if you're gonna stay in the house for longer than that sure you're exactly right it may be two years and you're only going to stay there for a year well then it wouldn't make sense but that look and find out when the break even point is when it it it pays to refinance

Saint Louis FED
The Federal Reserve provides relief but pain still coming

Squawk Pod

00:59 min | 1 year ago

The Federal Reserve provides relief but pain still coming

"The White House and Senate leaders have reached a deal on a massive two trillion dollar stimulus to combat the economic impact the corona virus outbreak. In addition the Federal Reserve has taken a number of steps to stem the damage and keep markets functioning. And that's where we're focusing. Today's podcast the Fed what it's done and what it can do. As the nation's central bank among the moves is an open ended commitment to continue buying assets under its quantitative easing measures there are also multiple other programs including one for main street business lending the small businesses and community and yours that are closed due to the corona virus. Shut down and others aimed at keep credit flowing. The Fed will be moving into corporate bonds for the first time purchasing investment grade securities in primary and secondary markets through ETF or exchange traded funds additional measures include the issuance of asset-backed securities. These are backed by student. Loans AUTO LOANS CREDIT CARD loans loans guaranteed by the Small Business Administration and certain other assets.

Federal Reserve Small Business Administration White House Senate
Whatever It Takes: How the Fed Aims to Rescue the Economy

This Morning with Gordon Deal

02:15 min | 1 year ago

Whatever It Takes: How the Fed Aims to Rescue the Economy

"How do we make sense of these different interventions but Congress and the federal reserve to limit the damage to the economy by the new coronavirus and the government restrictions that come with it Liz Claman anchor of the claimant count down on fox business is here to explain in depth Liz what's the fed done here in the past you had former federal reserve chief Ben Bernanke talk about helicopter money where you just dumped a dollar bills from a helicopter obviously he was joking around that with in the past during the financial crisis this is more like that three one thirty cargo chat opening the polls and dumping failed but money and so how I know it's designed to help the financial markets right but there are millions Americans aren't even in the stock market all why should they care well they should care because they have possibly four oh one K. they've got pensions they've got maybe five twenty nine there it also is the reality where they have bank accounts and make the money market so what the federal reserve chairman J. Jerome Powell police said was a whatever it takes moment and signaled the central bank signaled that they would do just about anything extending loans to both big and small businesses they would buy unlimited amounts of government debt to help the American economy because the American calling upon me is really based on funding markets it's hard to explain but medium to large sized businesses when they make payroll it's not from the cash they have in their coffers they borough on over night called the repo market or the overnight fed funds futures one big except try it's very complicated but it for overnight to make payroll and pay vendors and once the money comes in from their revenue what they're selling to the customers and we filled the coffers so if you have the the so called commercial paper market a product called start to freeze up which is what we saw during the financial crisis that could become a complete and utter disaster so what you're seeing now with the bed basically turning itself into a commercial bank instead of a central bank typically took one example but he

Congress Fox Business Liz Claman Ben Bernanke Federal Reserve Chairman J. Jerome Powell
Whatever It Takes: How the Fed Aims to Rescue the Economy

This Morning with Gordon Deal

02:15 min | 1 year ago

Whatever It Takes: How the Fed Aims to Rescue the Economy

"How do we make sense of these different interventions but Congress and the federal reserve to limit the damage to the economy by the new coronavirus and the government restrictions that come with it Liz Claman anchor of the claimant count down on fox business is here to explain in depth Liz what's the fed done here in the past you had former federal reserve chief Ben Bernanke talk about helicopter money where you just dumped a dollar bills from a helicopter obviously he was joking around that with in the past during the financial crisis this is more like that three one thirty cargo chat opening the polls and dumping failed but money and so how I know it's designed to help the financial markets right but there are millions Americans aren't even in the stock market all why should they care well they should care because they have possibly four oh one K. they've got pensions they've got maybe five twenty nine there it also is the reality where they have bank accounts and make the money market so what the federal reserve chairman J. Jerome Powell police said was a whatever it takes moment and signaled the central bank signaled that they would do just about anything extending loans to both big and small businesses they would buy unlimited amounts of government debt to help the American economy because the American calling upon me is really based on funding markets it's hard to explain but medium to large sized businesses when they make payroll it's not from the cash they have in their coffers they borough on over night called the repo market or the overnight fed funds futures one big except try it's very complicated but it for overnight to make payroll and pay vendors and once the money comes in from their revenue what they're selling to the customers and we filled the coffers so if you have the the so called commercial paper market a product called start to freeze up which is what we saw during the financial crisis that could become a complete and utter disaster so what you're seeing now with the bed basically turning itself into a commercial bank instead of a central bank typically took one example but he

Congress Fox Business Liz Claman Ben Bernanke Federal Reserve Chairman J. Jerome Powell
Leadership During Difficult Times

The Strategerist

08:09 min | 1 year ago

Leadership During Difficult Times

"Guest on this episode of the strategic is Keith Hennessy. These days he teaches at the Stanford Graduate School of Business Stanford Law School and his leadership fellow at the Bush Institute where he's teaching our leadership program sessions during the Bush administration. Though Keith was the assistant to the president for economic policy was the director of the National Economic Council during the financial crisis in two thousand seven and two thousand eight so those days Keith was working around the clock to blunt the impact of that financial crisis on on our economy. So we thought it'd be interesting today to hear about that experience while we're reacting to the cove in nineteen pandemic. That's happening right now. Keith thank you so much for taking time while your social distancing to call in happy to help hello from Palo Alto California. Well first off. Can you paint a picture of what it's like to be a decision maker in government during a time like this because I know right now? I'm watching the news. And there's just a constant stream of information things are changing by the minute and some of it is is fact some of it is conjecture. Some of it is somewhere in between. What's that stream of information like inside the White House and in our government? Yeah well an advantage. You have when you're working in the White House is that you get you. Get the best information that's out there. I always joke that one of the wonderful privileges. You can pick up the phone call pretty much anyone in the world and say. I need to help the president understand about your area of expertise. Can you spend some time with me? The person will always say yes. And then you have. You have a tremendous Roster of experts working in the government and then also outside of government Who can help feed you information? So the information tends to find you and if it doesn't you've you've got a team of talented people who can go find out The best available answer to any question. That's out there but there definitely is sort of a fog of war we're You think you know what's going on and you probably have a better picture than almost anyone else But there are a lot of unknowns. There are a lot of things that You know that you're just making educated guesses at so that's tough in hindsight This is one of the big mistakes. In terms of historic analysis is in hindsight. It is very easy to forget the things that now seem obvious. But we're not obvious time You know the biggest mistake about hindsight announces at the time. You didn't know what was going to happen next. And while you thought you knew what your actions and decisions might Might produce you're not always certain And then the other thing is is stressful And so you learn how individuals react to stressful environments and then you learn how teams React to stressful environments and you know I think it also depends on how long the crisis Lassen how long the pressure is applied. It's one thing to be in a stressful situation for days and weeks. It's a whole another thing to be in it for weeks and months and wears on people and In overtime that takes a toll because the people who are making these decisions are after all humans right. That's actually kind of interesting. And and so how? How do you keep team functioning under these kind of in under this kind of situation? And where might we might be doing this for a long time? Yeah I'm not sure I have many tricks. We were in in one respect. We were fortunate in that the the financial crisis in two thousand eight hit in year eight. So of the Bush team We knew how to operate as a team. We knew how the mechanisms of governments worked on a lot of US had four or five or six or seven years under our belts working for this president working with each other So we had those advantages of experience and know each other and frankly had a really good team In that last year With with Hank Paulson sort of as the the field. General for the president with Ben Bernanke over at the Fed and Kevin Warsh And with a lot of amazing people internally and so that teen Kinda you know it means that you don't have to worry about those aspects of it. You can just focus on the crisis of hand. So we had a bunch of pros. We had a bunch of pros. Who knew how to work together. And then you know you just you kind of say look. There will be time to sleep and time to rest on the back end of this. We're just going to keep pushing basically because we have to. I think the other thing is the morale is really important and and Bush thing. We were really fortunate because the morale comes in large part from the president You know the morale and the tone I always say that the tone in the White House is eighty percent set by the president and twenty percent by the White House Chief of staff and we had a president and a chief of staff who were creating a tone and environment where the rest of us didn't have to worry about the politics We could basically just focus on. What was the? What was the best policy? And how do we try to make it happen? So then you mentioned the that you knew how the government works and the government with all of its departments and with experts who sometimes have competing priorities. So in general strokes. Can you talk about how to how these departments all work together and coordinate during a crisis like this? Well that's what the White House policy councils are for. At the time we had four of them there are now three In the White House of the National Security Council is the granddaddy of them all And the National Economic Council in the Domestic Policy Councils And I worked in a on the National Economic Council staff so these are people who work in the White House for the president and Their job is to coordinate policy making in their in their area for the All the information that comes in for the president goes through the Policy Council to sort of structure. It make sure the presence president knows what's going on and what that best information is and in particular because the president has got a lot of advisers each of whom is responsible for looking at a part of the problem and the Policy Council Stash. Job is to make sure that the president has the information that they need to look at the whole problem. And so when you run one of these Policy cancels you get very good at running meetings and conference calls to pull all the advisers together To to compare information to figure out what decisions the president to make and then to make sure that the president hears from all of you know his advisors that he needs to we. We would joke that. Our job was to set up clean fights cleaner where you'd have conflicting advice. The you know one team advisors would set a precedent you do X. And other advisers would say the president should do why you. WanNa make sure the president gets the information. He needs so that he can make that decision and then when he makes the decision that everybody throughout the executive branch actually executes. Does what the president wants to do right so you would actually present. Exxon wide both team ex ante y presented the president. Let him make that decision. Yeah and I shouldn't describe as really two teams that a mismatch speak mistaken. Are My these are. These are different advisors who were all part of the president skiing. But right right right just disagree on a particular question and You know these. These decisions are hard. None of the options are particularly good. Because you're always over constrained But there are just different. Trade offs different choices that the advisers would make. And what you WANNA do. Is You want to hear the president. Have the president here. Those arguments be able to push the advisers. And then say okay. Here's what we're going to do You know the privilege of working for the president. Is You get to be in the room to make the argument or the option that you think you should make. And then when he hasn't sides it you've got to go out there and execute even if he went with The other option one that you didn't recommend be interesting thing about the financial crisis is that there were a lot fewer disagreements about what to do among

President Trump White House Assistant To The President Keith Hennessy National Economic Council Bush Bush Institute Stanford Graduate School Of Bu Palo Alto California Policy Council United States Exxon National Security Council Director Hank Paulson Ben Bernanke Kevin Warsh
"ben bernanke" Discussed on Biz Talk Radio

Biz Talk Radio

08:07 min | 1 year ago

"ben bernanke" Discussed on Biz Talk Radio

"Ben Bernanke does the second round of money printing in the markets reacted well but they also had a time limit on it so what do we do we try to get you he came up with something I'm not even to get into it called operation twist with it which did not work so we said you know what screw that screw this I'm going to do money printing beyond all recognition and we are going to print like freaking crazy like freaking crazy so we announces eighty five billion a month in printed money a trillion box and markets with they want and went in went and then for ninety exit stage left Yellen comes in says we got to get away from this we've got to get away from this and we agreed and to her credit even though she was part of the Bernanke maniacal crap she came in it started to what they call taper the printing of money but something happened while we were tapering the amount we were printed Europe and Japan started printing really was that a coincidence the same week no it wasn't that was coordinated Hey guys we save your but the first time now you're going to do it so Europe and Japan a print after they took rates down to zero percent then we go through the motions we go through a little bearish action bullish action bearish action bullish action there we go through some years and we get rid of the printing of money here after a very long arduous process of the tape bring it but Europe and Japan are printing like crazy they have negative rates now other countries are doing the same and now we have to fast forward J. Powell comes at any winners on a stack of bibles okay he didn't swear on a stack of bibles but you get my point that he was not gonna be like everybody else and he wasn't he came in and I was thrilled with him he starts raising rates from my goodness gracious I'm thrilled savers could start making money keeps raising rates but something happened something happened has he kept raising rates and as other countries were printing money in other countries were going negative we were raising rates the problem with all that it strengthens the dollar hearts are multi nationals her term markets so in the last quarter of two thousand and eighteen while Bernanke's raising rates Donald Trump is having fifth enjoy boating them on a daily basis Wall Street pundits are having fits and I'm saying to myself wait a minute hold on a second here this is not Jay Powell's fault for raising rates this is the past not an eight nine years of maniacs because in those eight nine years if all they're doing is every time the market corrects they keep doing more and more easy money and lifting up asset prices more more even though they should probably shouldn't be there aren't we just creating a bubble and if Europe and Japan are negative rates what's next think about that negative rates you give them money you'd have to pay them for the right for you to give them money that's asinine that is the exact opposite of economics wanna one's like Bernie Sanders proposals opposite of economics one oh one Powell caves and starts raising rates excuse me lowering rates and I'm like oh crap he gives in markets reacted well well he got Bernanke on this go easier money in the markets react to look at that and by the way human nature says Jeez if I make this move in the markets are reacting to the upside people that allows me to be Mister popularity but little does he know while he's lowering rates he's continuing with the little asset bubble the distortions and we're now ten eleven years into this and who knows what's going to happen what kind of animal do these countries all have the rates are so low I mean if you if your rates are six percent you go down to four you can affect things you can close the capital comes down more people buy houses more people lands three changes a stance the market's rally and then they drop changes a stance again to lowering rates and then he starts lowering rates and then he's all my goodness gracious I just lowered rates three times in the market isn't going anywhere what should I do well he lies to the American public in an interview in states well we're gonna do this thing but it's not what Bernanke did even though we're going to do exactly what Bernanke did it's not what Bernanke did and he starts printing money and printing more and more and more lesions and weird excuses I'm not gonna get into it and guess what the marketed it went nuts to the upside member we told you all these growth stocks breaking out of range some of these are big cap mega cap in the leg hello beta growth stocks going up thirty forty percent in three months holy crap attic all of a sudden the price earnings multiple of the markets of twenty I want earnings growth for all two thousand and nineteen were flat so we started printing money Europe who stopped printing money starts printing money again and we end up in the super good and what do I mean by the soup the market addicted to ever look lower interest rates but the problem is if you have negative rates and you go even more negative how is that going to help anything it's not it is a bunch of miserable failures continuing to fail that I've always asked the question how did these people ever become the most powerful the trump is not the most powerful person on earth three panelists the dude running the European central bank to do running the job of the bank of Japan to do running the China it's a woman by the way in Europe because they can construct limitless amount of conjured up money and do what they want to do with it and nobody says African ward and you know why Wall Street doesn't say a word because I think in every time the markets are just going to go up but I've always wondered what if we get through the day with the market finally shift the middle finger back at the central banks for them more on the move and not letting markets being.

Ben Bernanke
"ben bernanke" Discussed on KGO 810

KGO 810

01:47 min | 1 year ago

"ben bernanke" Discussed on KGO 810

"So you know a lot's changed since two thousand eight hours to the financial crisis change the way we lend money which is good and bad obviously the ninja loans don't come no job loans if you know that thanks for taking advantage of people leading think all they could own a home and then you know no when they fail with her the adjustable rate it was bad news in fact it's been so bad that people like Ben Bernanke could even get a refinance home because when he left the fed who is chairman of the fed he went to a bank and they said you don't have any incoming goes around the fed my point is this is war Pacific private money really comes into makes a big difference whether you're tired are and maybe downsizing maybe will be closer to the grand get something like that and you want to get a new place or maybe you're starting a new business they understand it Pacific private money they offer some of the most creative loan programs around SO you want to purchase your next on before selling your existing home because that's what happens but you know so maybe you know your home is paid for and maybe you and your wife to work anymore you park trash is real estate maybe just consulting something like that and you don't want to move twice but the banks as we can and your money into you sell your home and you're like yeah you gotta Pacific private money they'll enjoy the money yeah the interests are to be hired to be some points however you'll be able to get the home you want could you be a cash first person then with some of that money can do and you can state your home and do maybe the kitchen bathrooms and get more in many cases to wash for the point that you pay you'll get that back with the added value to your home I've seen it many many times and the best part you know about a ginger transitional bridge loan from Pacific private money is this is a new these guys are doing this a long time they got it down and they help hundreds of homeowners buy their next home without first selling their existing home.

Ben Bernanke chairman Pacific private
"ben bernanke" Discussed on Newsradio 1200 WOAI

Newsradio 1200 WOAI

01:36 min | 2 years ago

"ben bernanke" Discussed on Newsradio 1200 WOAI

"Is still a huge challenges so as long as the portability the challenge home sales are going to say a kind of certainly grow as much as they happen euro two many economists expected something of a repeat of the taper tantrum of twenty thirteen was that so back in twenty thirteen and that'll research Ben Bernanke indicated the central plains well it on and then taken to St that because in your treasury and mortgage rates to jump and that triggered it killed at home so that's what we were expecting for twenty nineteen so they were expecting L. higher interest rates on home loans would leave too much lower volume of sales because people need it takes time to kind of adjust for the higher price that you're paying for next year good news is that most experts expect mortgage rates to stay the same not necessarily go down but not a Philly go up either you know kind of stay in this realm of three percent range but the flip side of that is if interest rates to go up for some reason which you know any number of reasons related Seattle global economic conditions yellow jacket on the condition if interest rates do go up that could cause a lot of people to not be able to afford to buy a home and then the office please click the subject a passi personal finance reporter at market watch thirty minutes now after the hour on this morning.

Ben Bernanke treasury Philly reporter Seattle
"ben bernanke" Discussed on Biz Talk Radio

Biz Talk Radio

01:39 min | 2 years ago

"ben bernanke" Discussed on Biz Talk Radio

"So at its most Ben Bernanke printed a trillion dollars a year any did it because he said we not don't don't we do not want to go into production and we want markets going higher by the way he basically said that all the wealth effect well that and the but at the same time it ended with what Janet Yellen came in and she said you know we wanna stop all this we want to get off of zero percent want to stop the printing in you know what they did they did something called the taper but what happened was when the tapered the amount of printing we had eight taper tantrum in the market holy crap what to do because if we stop the tapering now we're gonna look like two faces and it's a little out of no where just by coincidence wink wink Japan and Europe at the same time we're slowing down they start printing money interesting huh but no coincidence there is there there's no any conventional coordination between central bank at around the globe is there well obviously there is now for all this time by the way we're getting too are very.

Fed's Powell affirms rate cut

Marketplace with Kai Ryssdal

02:50 min | 2 years ago

Fed's Powell affirms rate cut

"If it is safe for you to do so at the moment and and you happen to have some loose change in your pocket or your purse toss a coin for me. Would you heads the economy is fine tales. The Fed is going to cut rates at the end of the month. Yes a trick question because both are true but that's only half. Maybe a quarter uh of the story here for the rest of it are Catherine Pell. She writes for The Washington Post. City bready is at politico. Hey Everybody Hey Katherine. Let me start with you <hes> and and put put this question to you. The Fed Chairman Jay Powell went to Capitol Hill Hill today said in essence the American economy is fine were a little worried about global headwinds and so we're going to cut rates because why because there are those risks out there <hes> including <unk> as you pointed out global headwinds trade policy uncertainty he talked quite a bit about that <hes> at the prompting of members of Congress well <hes> so there are risks out there <hes> the headline numbers look good but the goal of the Fed is he put would it is to prevent us from getting into a recession to to keep it looking pretty good not to wait until things get so bad that <hes> that it's a little bit too late for the Fed to catch up and try to make things better she deep the cynic in me says you know he's doing this because the market wanted the market expects it and what the market wants. The market gets from the Fed. Yeah some people think he's being bullied by market. Something pissing people think he's being bullied by Donald Trump <hes> and J. Paul would love nothing more than to just say you know everything's fine. Everything's going to be fine markets. Go Away trump. Go Away. Leave me alone. We've got a strong economy going here but he he's already seeing signs of trouble. You see in the bond market signs of trouble classic Nick Indicators of a recession at some point in the next eighteen months. We're seeing it in global trade data suggesting that a recession could be around the corner. None of this means that it's absolutely going to happen but this is a risk management approach that a central bank needs to take so deep. Let me stay with you for a second really quickly on this and and the terms relations with Congress it was clear that for all of the president's <hes> sniping at the Fed and the chairman that he appointed <hes> the members of Congress that <hes> question the the chairman this week have his back back full stop yeah. They don't like the Central Bank chairman being bullied by the president. They don't like the idea that everything is going to be a political game with political manipulation especially in this environment where the president doesn't seem to be trying to do that all over the place and so they're they're trying to stand behind him and say do what you think is right. It's a very different situation. Ben Bernanke and Janet Yellen would have loved to have this from <hes> Republicans to say you know what we trust you follow the data. Do what's right but at least J. Paul has that now

FED Chairman J. Paul Congress Catherine Pell President Trump Donald Trump Jay Powell Capitol Hill Hill Ben Bernanke Nick Indicators Katherine Janet Yellen The Washington Post Eighteen Months
"ben bernanke" Discussed on Biz Talk Radio

Biz Talk Radio

01:52 min | 2 years ago

"ben bernanke" Discussed on Biz Talk Radio

"People that were running the joint. Our head of the central Bank, Ben Bernanke, who was part of the easy money contingent for a year. If not more, I have all this quotes, the economy is sound housing is fine. Housing prices. Never go down year over year. These were his quotes, the guy running the fed Treasury Secretary, Hank Paulson. Same thing. Same thing. Those two mine is well been Charlie McCarthy. The dummy, they missed the whole thing. They got it all wrong. The Treasury Secretary. And the central Bank head. So things blew up what to do. How are we gonna fix this, my God? How we gonna fix this? Ben Bernanke says, well, you know, we had this easy money. It just wasn't easy enough. So we took the exact solution that caused the prior to bubbles. And just supersonic debt. To where he took rates down to zero percent zero NADA, savers, go, screw yourself. Who got the difference? The spread the banks, the lenders the people that screwed us who we let money to the save them. And something happened market stopped going down. In fact, they started rallying in March of nine. But something happened. After the market's rally, they hit a pothole..

ben bernanke bank
The Fed was unusually chatty Tuesday

Marketplace with Kai Ryssdal

02:01 min | 2 years ago

The Fed was unusually chatty Tuesday

"The marketplace number oh, the day this Tuesday is five five members of the Federal Reserve's open market committee. That's the one that gets to decide interest rates. Remember five of them gave public speeches today. And believe me when I tell you for the fed that has a whole lot of talking central bankers have non at least historically been the most say, what's on your mind group of people that has been changing those we've been reporting and as marketplace's Mitchell Hartman tells us today, it has potential upsides and downsides back in nineteen Ninety-six. Then fed chair Alan Greenspan, uttered, the words irrational exuberance in a speech investors thought he was saying stocks were overvalued and the market tanked, probably not what Greenspan intended. But he did want to be opaque, says economist Frederic Mishkin, who served as a fed governor in the mid. Thousands. Michigan says one time after testifying to congress. One of the congress, people said that was very clear and Alan Greenspan, said, well, then it must have been a mistake. But under the next fed chair, Ben Bernanke transparency and frequent communication became guiding principles. That's continued under his successors. If you can get the markets understand how you react to future events that can actually make things monetary policy of warfare, active. A lot of what current chairman Jerome Powell. Communicates says university of Michigan economist, Betsey Stevenson is to reassure us that the feds got. It's all on the ball and on the news. Oh, and they're aware that obviously, the trade issues had the potential to have a big impact, so they're watching it really closely chairman Powell does have to contend with one communications challenge. His predecessors didn't says, dean Baker at the center for economic and policy research, and that's a president who publicly criticizes the fed POWs going to bend over back. Quds to say, we're not gonna listen to the present telling us to lower rates not Baker says, if economic conditions warranted Powell won't hesitate to cut rates and explain exactly why.

Alan Greenspan Federal Reserve Jerome Powell Dean Baker Ben Bernanke Chairman Michigan Frederic Mishkin Mitchell Hartman One Communications Congress University Of Michigan Betsey Stevenson Quds President Trump
Fed holds line on rates, says no more hikes ahead this year

Tom Sullivan

06:26 min | 2 years ago

Fed holds line on rates, says no more hikes ahead this year

"Our buddies over at the Federal Reserve. Nice big fancy lunch yesterday today two day meeting, and they came out and said no interest rate hike, not only no interest rate hike today. But no interest rate hike probably for the rest of the year. They're not I mean, they're not guaranteeing that. But they signal that they will not raise interest rates anytime this year. This is a big turnaround from where they were just a month ago. So this was eleven of the seventeen officials who vote on this said, the fed should not raise interest rates at all this year. That was the only two of them said that in December. So went from two to eleven of the seventeen or basically, a majority said, Nope, we don't need. We're going to turn around our policy. We are not going to raise interest rates at all this year. The remaining six officials said well, maybe one between one and two increases would be needed. So what this is saying loud and clear is things are slowing down. They're worried about the economy slowing down, and they don't want to be the one. Pushing us over the over the cliff. So they're the more. They raise interest rates things. Become more expensive. Borrowing is more expensive for businesses. So for businesses to grow and expand and hire more people. They a lot easier for them to do. So interest rates aren't climbing the other part about this. Is there's there's the interest rate projection. But there is another part to it. Which is they during the past two thousand eight recession. The great recession. They went through the process. This is Ben Bernanke as days of buying four trillion dollars worth of treasuries. And what that does is they they buy them from the banking system the banks that make up the membership of the Federal Reserve Bank. They buy them from them. So what that does is they give to the banks more cash. Well, if you're walking in the door, and you say, hey, I would like to get a loan for fill in the blank, whatever your reason is if the banks have lots of money, the only way they can really make money on it is to lend it. So they got boatloads of money that the fed is pushing at them you walk in the door and say, I want alone, the the chances of you getting that loan are much higher your credit worthiness. Doesn't need to be perfect. There's a lot of reasons why they will make that alone in what they got lots of cash that they won't make another days if the fed is tightening. And that's what they have been doing over the last year and a half or so that means you walk in the door, and they don't have as much money. They're making the the banks by the treasury's back from the Federal Reserve, the banks don't have as much money sitting around you walk in the door and say, hey, I like alone, and they said, well, let's size you up. Let's see whether or not we're gonna make you alone versus other people that we're going to that are asking for loans. We're only going to make loans to the very best credit worthy. Most biggest chances of being paid back without any defaults. So what the fed is doing is. They are a not raising interest rates and there signaling they're not going to raise them for the rest of two thousand nineteen. And they are. Slowing down the pace of the runoff of these four trillion dollars worth of treasuries that they have. And because they've been they've been pushing them back to the banks and the banks have had to buy them. They don't have a choice or member member of the Federal Reserve Bank. So they're saying, okay, we're going to slow down that. And then we're going to end that runoff program in September. Which will be exactly two years after they started it. So I lower people pay attention to the interest rate. But I think that big fat four trillion dollar portfolio of treasuries. They have is been shrinking. But that has a lot more to do. I think with whether the local Bank is going to give you alone or not give you alone the interest rate, so they can go in and maybe the interest rate is climbing, and you go, okay, but I can afford a little more I can pay a little more interest. But the Bank is not going to be interested interested in making loans if they're having to buy back four trillion dollars worth of treasuries from the Federal Reserve Bank. So I think this is. This is is saying. They're not worried about inflation. And they are worried about the pullback in financial risk-taking. And they are concerned about Europe in China slowing down and they're wondering how long the United States can be an island of growth when two of our giant trading partners are shrinking. So this is this is the fed saying loud and clear that they are going to. Pay attention to what's going on around the world. So for right now, it's a big pause. Rates aren't going down. But it does bring up the question of whether or not. The fed will maybe before the end of the year drop interest

Federal Reserve Federal Reserve Bank Ben Bernanke Europe Treasury China United States Four Trillion Dollars Four Trillion Dollar Two Years Two Day
Fed's Powell says no immediate policy responses needed to economy

CNBC's Fast Money

01:03 min | 2 years ago

Fed's Powell says no immediate policy responses needed to economy

"CBS has just announced that Jay pal. The fed chair is going to be on sixty minutes this weekend in an interview that has already been recorded of CVS saying that pal sat down with CBS is Scott Pelley this week in Washington DC for what they're calling a wide ranging discussion that includes the fed chairman's remarks on interest rates the outlook for America's economy, and whether the US financial system is vulnerable to. Attacks. They also say that because the interview is on the at comes almost ten years to the day since Pelly interviewed then fed chairman, Ben Bernanke during the great recession, Burnett Anki and his successor Janet Yellen appear in the interview alongside pow in one of the interviews for the report to discuss how they advised him to handle the job and the criticism that comes with it that will obviously be fascinating viewing. And so interesting to see whether or not they discussed the criticism from here at sixteen hundred Pennsylvania Avenue from the president of the United States who's been very critical of J pals approach to handling interest rates at the fed. We'll see whether they get into that at all in the

FED Jay Pal CBS Chairman United States Scott Pelley Ben Bernanke Burnett Anki Janet Yellen Washington President Trump America Pelly Sixty Minutes Ten Years
"ben bernanke" Discussed on EconTalk

EconTalk

04:18 min | 3 years ago

"ben bernanke" Discussed on EconTalk

"Know they're number graduate students and under Edgewood econ majors listened econ talk. It's one thing. For Tim Geithner or Ben Bernanke, he or President Bush or President Obama argue that we had to bail out all the banks almost all the banks hundred cents on the dollar because if we didn't where we come to an end. So I think that was a lie. I don't think there would have come to an end if they'd gotten say eighty cents on the dollar. I don't think there would have come to an end if instead of bailing out banks we'd build out homeowners. I think we bailed out banks because they're politically powerful and politicians take a lot of money from him. And it was the worst cronyism of our lifetime. The financial crisis of two thousand eight how it was handled. And I think we're gonna live with costs for a long time. And I think we're in the middle of those costs, even though are we save the world scrape we didn't we encourage people to use the system to exploit the rest of us. We destroyed people's faith in democracy. We destroyed people's faith in capitalism. It was a terrible terrible mistake. But that conest have to applaud that is inexcusable the communists become the enablers of that per se while the system it would have been a crisis. Of course, ATM machines might start economists have no moral foot to stand on when they are when we argue. I'm not one of them. So I don't say we when day argue that of course, they did the right thing. It was terrible. It was it was it was the best choice available. But it, but it was terrible shouldn't say that. We should we should have been out there suggesting alternatives. And when we look back on it is history. We should say it was a terrible mistake. And of course as. As in gullies losing just pointed out on talk. We're just like everybody else we have our own incentives. We like being part of the system too. So let's not fool ourselves. Folks. Let's call it like it is. And I think that was a really horrible set of policy decisions the remainder thousand and all communists to join me and saying so I think saying otherwise to give them the electoral cover for that kind of exploitation of the tax payer in the average person is inexcusable. You I hear you. I'm with you. But listen to yourself what you basically said was these incentives appear to be irresistible for two reasons. One we want to be part of the system, and as engulfs has said, there's actual monetary incentives. You get you get paid better. If you're a consultant for this sort of you, and then you said, but I want to live in a different world. Well, that's the thing that makes it I mean, you literally said that. And so do I I can imagine the different world. The question is just in terms of a to b to see how can we have a combination of a structure of material incentives, and intellectual ideas, the explanation that makes people say this is the problem that we have it involves character. Enormous. I worry that economic has abandoned the position of emphasizing character norms and morality and one of the reasons. That I'm a political scientist and philosopher rather than in collumnist. In terms of my academic affiliation. Is precisely that. I I'm worried about the structure of preferences in the sustainability of the the willingness of people to try to act in the right way. Even if it may be illegal and emphasize the real problem here is the ability of rational state actors to restructure the legal rules in ways that overtime could corrupt moral character that might otherwise prevent a move in this direction. So the real problem is we have to take the public choice objection seriously members people who work for the the state elected officials and bureaucrats are rational in their entrepreneurs, they're looking for ways to increase their power now that isn't necessarily make them bad people..

Obama Tim Geithner President Bush cronyism Ben Bernanke President collumnist scientist consultant
"ben bernanke" Discussed on Biz Talk Radio

Biz Talk Radio

06:29 min | 3 years ago

"ben bernanke" Discussed on Biz Talk Radio

"Keeping them down. But not to zero percent. I still remember when being easy. Was when they would take the fed funds rate down from four percent the three and a quarter over six month period. And that was real easy. And then Cambridge. And we watched how easy and easier. And in that time. A bubble was created one of the biggest bubbles in history that being the housing bubble. And Mr. banenky? Didn't know. What was coming? Didn't have an idea was coming. Didn't see it coming. When it came did, not note was here and not until everything blow blew up. Did he acknowledge it? And what did he do? He did something we have not seen before. He merely ramp down interest rates down to zero percent zero percent zero percent. Now, these interest rates are important. Why? Because. Loans are based on it. Debt is based on it and asset prices also work off of them. You ever heard the line? Don't fight the fed when the fed is easing markets usually do better. But what happens when the fed goes down to zero percent? Well, you saw what happened markets bottom and started rallying. But something else then happened something we never even dreamed up. I certainly never dreamed them. It. Ben Bernanke decided, and they would not use the terminology. But we did. And that is they started printing money now do they actually print money? No, they pressed buttons and create money, and they took that money that was created out of thin air and bought up our excuse me our government bonds. And the goal in mind was to get interest rates as far down as possible not only on the short end. But on the log end the thought process being if interest rates come down, the cost of capital to do everything and be everything come down and that would spur on economic growth. But this repercussions. Savors get zero who gets the difference the banks fair. Well, we'll let you decide if that's fair. The other part of the equation. Is it kind of screws up the markets? You know markets is supposed to be between buyers and sellers based on fear and greed desperation or inspiration. Strength versus weakness. And they interfered no longer were there was there a two-way trade. They bought up everything in sight. And thus interest rates came way down. And fast forward it to the two thousand fourteen to where the fed had printed four and a half trillion dollars. Four and a half trillion. Not many can put their hands around that type number and that's on top of zero percent interest rates. And markets reacted and reacted. Well, but along the way. Every time the fed stopped printing money the markets corrected. And every time the markets corrected. The fed did something new. You remember QE one QE to operation twist? I'm still not sure what that was. Q three the mother of all printing of money eighty five billion dollars a month. But what happened was they started to lose a lot of credibility and recognize we gotta change a little bit. Should they came off the printing of money? Slowly. But surely. And market started to hang in there until market started to get in trouble. And what did they do? They found some friends Japan Europe, China and in a coordinated effort in late two thousand fourteen Japan announced the trillion and change European announced the trillion change, and then China the supposed miracle of Asia realized that they were heading south. They started easing big time. And guess what happens to their markets? They soared. They copy Ben Bernanke. Since market soared here. They now sore over there. To the point where it doesn't matter. What country it is the communist paradise of Venezuela? In early two thousand fifteen slow this spot market soaring. Even though inflation is sixty seventy percent there. Thus the big humongous central Bank intervention. But the issue is. What does it created? We know easy money was impart created in one thousand nine hundred ninety nine which led to two thousand two oh three. We know. Embiid part easy money led to two thousand and seven two thousand and eight. And now, we have I wouldn't even call it. The mother of all easy money. I would call the universe of all easy money things. We couldn't fathom around the globe zero percent interest rates five trillion dollars of negative interest rates and fourteen trillion dollars of printing money and still going strong. So what are the repercussions? What are the ultimate repercussions? Are there repercussions? We'll head right into that up next. Thank you for.

fed Ben Bernanke Japan Europe Mr. banenky Cambridge Asia Japan Venezuela China zero percent eighty five billion dollars fourteen trillion dollars five trillion dollars sixty seventy percent trillion dollars four percent six month
US Shutdown and Brexit: 2 governments paralyzed across the pond

Investor's Edge

02:32 min | 3 years ago

US Shutdown and Brexit: 2 governments paralyzed across the pond

"June twenty third two thousand and sixteen. Brexit was voted on. They still can't figure out what the hell is going on in the UK. We are on day. I don't know twenty six twenty seven on our shutdown. It looks like it's going to continue. We're hearing talk of some Republicans or some advisors or in Trump's ears and saying listen, this is just gonna keep going because the other side's not gonna do anything. This is affecting things. I was thinking about you know, they got the Super Bowl Atlanta soon. What are you gonna do about TSA? They're on how many people are going to go through Atlanta airport. Just these things, you know, head into my brains. Eight hundred thousand people some living paycheck to paycheck are not getting paychecks. They have to drive. Uber's I got some ask clowns emailing me, then they just didn't government, anyhow, we don't need them. How do you know? Look, I am the biggest proponent of government is too big. I am the biggest proponent that. The forefathers a turning over in their grave thinking about how many people are in our government. I this is like a couple of million a few million people in our government. And how much welfare and welfare programs and this program in that program, and this that and the other thing, but the bottom line, these people still have the jobs that they apply for the expectation is they're working they're getting a paycheck and because of a bunch of morons on both sides of the aisle. They're not. And I already explained to you why they're both sides of the island morons. I don't have to go through it. I have other words I can use for these people. But I can't say them on radio and believe me I'd love to. We still have the tariffs going on. We still have economic numbers around the globe coming in not very good. We had more today here in the US decelerating numbers. So how is the market continuing to go up? Well, as we've told you on January fourth. Ben Bernanke did a one eighty on monetary policy. Excuse me, shape Powell. On top of that you have Europe in Japan that have been promising for months that they were going to roll back. They're printing money and all that they're not anymore.

Ben Bernanke Atlanta TSA Brexit UK Donald Trump United States Europe Japan Powell
"ben bernanke" Discussed on Biz Talk Radio

Biz Talk Radio

03:17 min | 3 years ago

"ben bernanke" Discussed on Biz Talk Radio

"You're here. Ladies and gentlemen. Happy that you're listening. It's January ninth two thousand nineteen. I'm still getting it, right? Normally for a week or so I'll say the year before, but I'm still getting it, right? It is two thousand nineteen. We're here to talk about and ladies and gentlemen, right now, just really wanna talk about markets. We'll do a few other things as we always do every day, but markets are transitioning here, and it's MUI import Tonga, you know, that in last Friday. We were bearish as all hell. And even with. The rally off the lows. Berisha's all health as of last Friday morning. And then something happened. I was on Stuart Varney show on FOX business, and they had a little get together with your own Powell, Ben Bernanke Yellen. A couple of other people. And I was talking and then they went to Jerome Powell talking. And I heard we add a say. And on I to say, you know, I think I have to go off my bearish stance. After being bearish all the way down. And I mentioned that Friday for you guys. And I got tons of emails to answer every one of them, but very simply back in two thousand and twelve we were going to go into a bear market. And then came rumors that Ben Bernanke who already had done quantitative easing one printing of money and that ended markets went down announces quantitative easing number two. Markets rallied. And then added that end markets went down. Came out with something called operation twist, which I still can't tell you what the hell it was. Mortgage drifted. Really didn't get any. So out of nowhere. Rumors came out of QE three. And the rumor was that they were really going to ramp up the printing of money and the thought process was about forty billion a month. A trillion bucks a year approximately. Market stop going down and started rallying. What are you? Now. And I have to tell you at the time. I didn't believe it. I said no way markets gotta shoot the middle finger at this. Moron. Who's gotten everything wrong? We have to remember for Nike got everything wrong. Everything wrong. During oh, seven oh, eight subprime problems with subprime lending. The economy was strong housing. They basically said him and Paulson that housing never goes down and not to worry. There's no way I believe markets would get going..

Jerome Powell Ben Bernanke Ben Bernanke Yellen Tonga Stuart Varney Berisha Nike Paulson FOX business
"ben bernanke" Discussed on Biz Talk Radio

Biz Talk Radio

03:17 min | 3 years ago

"ben bernanke" Discussed on Biz Talk Radio

"Here. Ladies and gentlemen. Happy that you are listening. It's January ninth two thousand nineteen. I'm still getting it, right? Normally for a week or so I'll say the year before, but I'm still getting it, right? It is two thousand nineteen and we're here to talk about and ladies and gentlemen, right now, just really wanna talk about markets will do a few other things as we always do every day, but markets are transitioning here, and it's MUI import Tonga, you know, that into last Friday. We were bearish as all hell. And even with. The rally off the lows. Berisha's all health as of last Friday morning. And then something happened. I was on Stuart Varney show on FOX business, and they had a little get together with your own Powell, Ben Bernanke Yellen. Couple of other people. And I was talking and then they went to Jerome Powell talking. Am I heard we attache? And on area to say, you know, I think I have to go off my bearish stance. After being bearish all the way down. And I mentioned that Friday for you guys. And I got tons of emails to answer every one of them, but very simply back in two thousand twelve we were going to go into a bear market. And then came rumors that Ben Bernanke who already done quantitative easing one printing of money and that ended markets went down announces quantitative easing number two. Markets rallied. And then added that end markets went down. Came out with something called operation twist, which I still can't tell you what the hell it was. Mortgage drifted. Really didn't get any from it. So out of nowhere. Rumors came out of QE three. And the rumor was that they were really going to ramp up the printing of money and the thought process was about forty billion a month. Half a trillion bucks a year approximately. Market stopped going down and started rallying. What do you know? And I have to tell you at the time. I didn't believe it. I know way markets gotta shoot the middle finger at this. Moron. Who's gotten everything we have to remember Bernanke got everything wrong? Everything wrong. During oh, seven oh, eight subprime. There's no problems with subprime lending. The economy was strong housing. They basically said him and Paulson that housing never goes down and not to worry. There's no way I believe markets would get going..

Ben Bernanke Jerome Powell Ben Bernanke Yellen Tonga Stuart Varney Berisha Paulson FOX business
"ben bernanke" Discussed on Biz Talk Radio

Biz Talk Radio

03:16 min | 3 years ago

"ben bernanke" Discussed on Biz Talk Radio

"With us today. You are here. Ladies and gentlemen, happy that you're listening. It's January ninth two thousand nineteen. I'm still getting it, right? Normally for a week or so I'll say the year before, but I'm still getting it, right? It is two thousand nineteen. We're here to talk about and ladies and gentlemen, right now, just really wanna talk about markets will do a few other things as we always do every day, but markets are transitioning here, and it's important that you know, that into last Friday. We were bearish as all hell. And even with. The rally off the lows, we Berisha's all health as of last Friday morning. And then something happened. I was on Stuart Varney show on FOX business, and they had a little get together with your own Powell, Ben Bernanke Yellen. A couple of other people. And I was talking and then they went to Jerome Powell talking. And I heard we add a say. And on air to say, you know, I think I have to go off my bearish stance. After being bearish all the way down. And I mentioned that Friday for you guys. And I got tons of emails to answer every one of them, but very simply back in two thousand and twelve we were gonna go into a bear market. And then came rumors that Ben Bernanke who already had done quantitative easing one printing of money and that ended markets went down announces quantitative easing number two. Markets rallied, and then added that ended markets went down. Came out with something called operation twist, which I still can't tell you what the hell it was. Mortgage drifted. Really didn't get any from it. So out of nowhere. Rumors came out of QE three. And the rumor was that they were really going to ramp up the printing of money. And the thought process was about forty billion a month. Half a trillion bucks a year approximately. Market stopped going down and started rallying. What do you now? And I have to tell you at the time. I didn't believe it. I set the missile no way markets. Gotta shoot the middle finger at this. Moron. Who's gotten everything wrong? We have to remember for Nike got everything wrong. Everything wrong. During oh, seven oh, eight subprime. There's no problems with subprime lending. The economy was strong housing. They basically said him and Paulson that housing never goes down and not to worry. There's.

Ben Bernanke Jerome Powell Ben Bernanke Yellen Stuart Varney Berisha Paulson Nike FOX business
"ben bernanke" Discussed on P&L With Pimm Fox and Lisa Abramowicz

P&L With Pimm Fox and Lisa Abramowicz

03:20 min | 3 years ago

"ben bernanke" Discussed on P&L With Pimm Fox and Lisa Abramowicz

"And they're kind of testing things along the way. Jason Schenker of Ben Bernanke key, former chair the Federal Reserve said that long-term low interest rates low long-term interest rates around the world since the financial crisis have made the job of central banking, more difficult. Can you comment on that? Yeah. I mean, there's a couple of things around this. Right. I mean, look there were folks who've made managing director at some of the world's biggest investment banks who at the time where they made in D had never seen a fed rate hike had never seen interest rates of Vero. So what happens is this your first point about mixing financial market understanding with macroeconomic theory. What happens if you have practitioners who never seen? Recessions never seen a downturn. Never seen interest rate. I it increases uncertainty because decision makers in funds and in corporations are really going to be looking at their their first Pence of these things that introduces uncertainty and risk in terms of actual corporate actions, capitalizations and and other damage in financial architecture content. Right now. I just want to bring you up to speed because we are seeing a very big rally in US equity markets. The NASDAQ is up three point seven percent. Ten year. Treasury yields are experiencing their biggest sell-off by at least one measure in at least a year. So Jason I'm just wondering going forward here. What do we need to see to sustain this rally in risk assets? And sort of the the pain that we're seeing in the safe bond. Well, I think the most important thing from a technical standpoint in the equity markets for the last five years has been hundred twenty moving average. We're well below that on the NASDAQ. And the Dow if we were to go back above that. I think there'd be you know, a lot more room above. But right now, we're still in a in a zone that's reflecting a lot of pressure uncertainty and risk. I think as we look forward at the data housing date is going to be important auto date is going to be important in business investment in the watch that line item in the next couple of GDP airports. I think that's gonna be really really important because there's a lot of risk there as you see higher interest rates companies by the Ford a lot of their purchases into twenty eight teen presents downside risk to those sectors in twenty nine hundred. Ben, Burnett key said that expansions don't die of old age that they get murdered. Do you agree? Well, you know, I think it it might be more that they die unexpectedly right and burn kit and probably to hit reference sort of what the expectations were before the financial crisis. And you know, here we are, you know, ten years plus later, I think that it comes surprise to many win the things go bad. They tend to go bad a lot more quickly than people in -ticipant. And so it doesn't have old age. It's sort of swiftly once the smart money knows that the party's over. Thanks very much for being with us. Jason Schenker is the president of prestige economics. Also, the chairman of the futures institute and a Bloomberg opinion contributor based in Austin, Texas, and you can follow Jason and his work on Twitter at the prestige econ..

Jason Schenker Ben Bernanke US Federal Reserve Vero managing director Twitter Texas Ford Austin chairman -ticipant president Bloomberg futures institute
"ben bernanke" Discussed on Biz Talk Radio

Biz Talk Radio

06:06 min | 3 years ago

"ben bernanke" Discussed on Biz Talk Radio

"Three hundred and seventy back three hundred and forty-three today. Advance the clients very good today. Thirty three to four up down volume. Excuse me, twenty six to four twenty seven to four on the NASDAQ. Yeah. And the big story today. Wow. My surprise to most surprise a really strong jobs. Number estimates were about one hundred eighty thousand created three hundred twelve thousand what created a great great number. And a good question would be how it blew hell. Does this really mesh with durable goods numbers that just came out? Icke all these other numbers from regional Fettes, real Icke, China, Germany, Japan, so many other areas how can that be? I don't know. What I do know. And I want you to listen carefully. Is typically when they come out with one of those numbers the next numbers. Not that good. That's like a one time great bump up, but will hold out. Hope it continues. Nevertheless, we are not gonna throw cold water on that. That is one of the first surprise we've been telling you the norm was going to be surprises to the downside. And that's all we have got. Surprises to the upside. A really good surprise today. And for me the most important surprised to the upside the job market. It's great when people have jobs, Hispanic. Became the Hispanic numbers to set nineteen from going back to one thousand nine hundred seventy three best-ever twenty seven point seven million Hispanics with jobs they record. So that is great. Great news. But that was not. The store the market gapped up some on that news. We're up a couple of hundred points. But there was a. I know confab means a meeting, but a private meeting. So let's call it a public confab believe it or not in the same room being interviewed. What Jay Powell the fed? Janet yellen. The expert had Ben Bernanke the fed head yachts before that. And they went at it. Jay Powell changed? Jay Powell changed? What was my biggest complaint about Ben Bernanke? He targeted markets. I'm gonna post the report this weekend on what happened in two thousand twelve. I remember it like it yesterday. The q one q e to an operation twist. The markets were heading into a bear market and out of nowhere. Ben banenky announced kill three forty billion dollars a month of money printing being zero percent interest rates. Markets rallied in the patient at the start. When they started Kiwi was sell the news markets will get in trouble. Brunetti out of nowhere says our just gonna take it the eighty five billion. What's a trillion a year? And market the romped. December seven th two thousand twelve is when they started that extra and the next year markets were up markedly. Now Jay Powell did not announced that he was taking rates down to zero percent. He did not announce printing of money, but he's certainly telegraphed. They are at the ready, and they are paying attention. Tomorrow. So markets romped today. It is my job. To flush it out, as you know throughout this bear markets. There is not been one day where I have said to you. I am buying. I am jumping in. I have said Ehlo. I have said the low for now, which usually is weeks a took seven weeks the break. I'm always looking for that day or a couple days that says dowry. You could test. And if we're all little stops. And you get out, and that's it. Now. I will know everything. Well, let me take everything back. I will know a lot. Over the weekend. It will be a double scan weekends. But I already done some things and in this hour, we're going to let you know, what was specifically sink. Keep thingers cross. We than here. The positives of told you oil price crash big tax cut the individual business. Interest rates. No bounce up. Today is still a two point six five on the ten year. Still very low. And we're down a lot. So what's next? Much more..

Jay Powell Ben Bernanke Ehlo Janet yellen Ben banenky Fettes Kiwi Brunetti China Japan Germany zero percent three forty billion dollars seven weeks ten year one day
"ben bernanke" Discussed on Biz Talk Radio

Biz Talk Radio

06:39 min | 3 years ago

"ben bernanke" Discussed on Biz Talk Radio

"Three hundred and seventy back three hundred and forty-three today. Advance the clients very good today. Thirty three to four up down volume. Excuse me, twenty six to four twenty seven to four on the NASDAQ. Yeah. And the big story today. Wow. My surprise to most surprise a really strong jobs. Number estimates were about one hundred eighty thousand created three hundred twelve thousand what created a great great number. And a good question would be. How blue hell does this really mesh with durable goods numbers that just came out? All these other numbers from regional feds. China. Germany, Japan, so many other areas that. I don't know. What I do know. And I want you to listen carefully. Is typically when they come out with one of those numbers the next numbers. Not that good. That's like a one time great bump up, but will hold out hope continues. Nevertheless, we are not gonna throw cold water on that. That is one of the first surprise we've been telling you the norm was going to be surprised as to the downside. And that's all we have got surprises to the upside. A really good surprise to the today. And for me the most important surprised to the upside the job market. It's great when people have jobs, Hispanic. Keep the Hispanic numbers to set nineteen from going back to one thousand nine hundred seventy three best-ever twenty seven point seven million Hispanics with jobs they record. So that is great. Great news. But that was not. The store the market gapped up some on that news. We're up a couple hundred points. But there was a. I know confab means a meeting a private meeting. So let's call it a public confab believe it or not in the same room being interviewed which Powell the fed head. Janet Yellen the expert head Ben Bernanke, the fed head yachts before that. And they went at it. Jay Powell changed? Jay Powell changed? What was my biggest complaint about Ben Bernanke? He targeted markets. I'm going to post the report this weekend on what happened in two thousand twelve. I remember it like yesterday. After q one q e to an operation twist the markets were heading into a bear market. And now to know where Ben banenky announced Q three forty billion dollars a month of money printing wall being zero percent interest rates. Markets rallied in a patient of the sort. When they started QE was sell. The news markets were getting in trouble for Nikki out of nowhere says our just gonna take the eighty five billion. What's a trillion a year? And market the romped. December seven th two thousand twelve is when they started that extra and the next year markets were up markedly. Now, Jay Powell denied announced that he was taking rates down to zero percents. He did not announce printing of money, but he's certainly telegraphed. They are at the ready, and they are paying attention. Tomorrow. So markets romped today. It is my job. To flush it out as you know throughout this bear market. There has not been one day where I have said to you. I am buying. I am jumping in. I have said halo. I have said the low for now, which usually is weeks and it took seven weeks the break. I'm always looking for that day. You're a couple days that says dowry. You could test. And if we're all take a little stops. And you get out, and that's it. Now. I will know everything. Well, let me take everything back. I will know a lot. Over the weekend. It will be a double scan weekends. But I already done some things and in this hour, we're gonna let you know, specifically sing. And we'll keep thingers cross. We than here. The positives of told you oil price crash big tax cut, the individual business interest rates bounced stop today is still a two point six five on the ten year. Still very low. And we're down a lot. Positive. So what's next? Describe. Much more. Hi, I'm Gary kaltbaum, host of the net. Voca Steve Spurrier here. And I know just how stressful. It could be with Thomas tight, and you'd need ports on the board. Well, just like my phone.

Jay Powell Ben Bernanke Steve Spurrier fed Gary kaltbaum Ben banenky Janet Yellen China Nikki Thomas Germany Japan three forty billion dollars zero percent seven weeks ten year one day
"ben bernanke" Discussed on Biz Talk Radio

Biz Talk Radio

06:30 min | 3 years ago

"ben bernanke" Discussed on Biz Talk Radio

"As a four NASDAQ only up two hundred and seventy five. Nasdaq one hundred two hundred seventy five the up forty eight after being down like seventy yesterday. Transports three hundred and forty three. Transport's yesterday were only down. Let me say let me let me get this. Right. Transport's closed at ninety two thirty two to eighty eight fifty eight hundred eighty one. Three hundred and seventy back three hundred and forty-three today advanced the clients very good today. Thirty three to four up down volume. Excuse me, twenty six to four twenty seven to four on the NASDAQ. Yeah. And the big story today. Wow. Surprise to most surprise a really strong jobs number. Estimates were about one hundred eighty thousand created three hundred twelve thousand what created a great great number. And a good question would be. How it blue hell does this really mesh with durable goods numbers that just came out? All these other numbers from regional Fettes Icke, China, Germany, Japan. So many other areas that big. I don't know. What I do know. And I want you to listen carefully. Is typically when they come out with one of those numbers the next numbers. Not that good. That's like a one time great bump up, but will hold out. Hope it continues. Nevertheless, we are not going to throw cold water on that. That is one of the first surprise we've been telling you the norm was going to be surprised as to the downside. And that's all we have got. Surprises to the upside. A really good surprise to the day. And for me the most important surprised to the upside the job market. It's great when people have jobs, Hispanic. The keeping the Hispanic numbers to set nineteen from going back to nineteen Seventy-three best-ever twenty seven point seven million Hispanics with jobs they record. So that is great. Great news. But that was not. The store the market gapped up some on that news. We're up a couple of hundred points. But there was a. I know confab means a meeting a private meeting. So let's call it a public confab believe it or not in the same room being interviewed. What Jay Powell the fed? Janet Yellen the expert head Ben Bernanke, the fed head yachts before that. And they went at it. Jay Powell changed? Jay Powell changed? What was my biggest complaint about Ben Bernanke? He targeted markets. I'm gonna post the report this weekend on what happened in two thousand twelve. I remember like yesterday. After q one q e to an operation twist. The markets were heading into a bear market and out of nowhere. Ben banenky announced. Q E three forty billion dollars a month of money printing wall being zero percent interest rates. Markets rallied anticipation of the start. When they started QE, we sell the news markets were getting in trouble. Burn achey out of nowhere says our just gonna take it. Eighty five billion trillion a year and market the romped. December seven th two thousand twelve is when they started that extra and the next year markets were up markedly. Now, Jay Powell the non announced that he was taken rates down to zero percents. He did not announce printing of money, but he's certainly telegraphed. They are at the ready, and they are paying attention. Tomorrow. So markets romped today. It is my job. To flush it out, as you know throughout this bear markets. There has not been one day where I have said to you. I am buying. I am jumping in. I have said halo. I have said the low for now, which usually is weeks at a took seven weeks to break. I'm always looking for that day or a couple days that says. Airy. You could test. And if raw stops and you get out, and that's it. Now. I will know everything. Well, let me take everything back. I will know a lot. Over the weekend. It will be double scan weekends. But I already done some things and in this hour, we're going to let you know. What was specifically sing? And we'll keep fingers crossed. We then here. The positives of the of told you oil price crash big tax cut the individual business. Interest rates. No bounced stop today is still a two point six five on the ten year. Still very low. And we're down a.

Jay Powell Ben Bernanke Ben banenky Fettes Icke Janet Yellen China Japan Germany three forty billion dollars zero percent seven weeks ten year one day
December Jobs Numbers on Tap

WSJ What's News

03:32 min | 3 years ago

December Jobs Numbers on Tap

"The holiday shortened week and the partial government shutdown means we'll see a lighter economic calendar. This week all leading up to the release of the December jobs report on Friday, a final snapshot of the twenty eighteen employment picture joining us now from Washington with more details on the data is Wall Street Journal reporter, Sharon, none. Sharon Lister with the jobs report out on Friday twenty eighteen was a really strong year for the economy. Do you anticipate any surprises in last year's final jobs report? Yeah. Absolutely. We've continued to see really solid jobs growth and the unemployment rate is kind of hovering out of multidex low. But as you know, we've seen market volatility kind of increase in recent months. So if we're if the picture were to change because of that market volatility, I feel like this report would would be the first signs of employers. Pulling back on hiring as a result from that market volatility. But if you look at business and consumer sentiment gauges things seem to be. Pretty elevated still so remains to be seen whether or not businesses are actually going to start pulling back their hiring at the same time. There are also concerns about the tightening labor market. The journal has been reporting that job seekers across different industries or quitting in search of better opportunities, which is making it tougher employers to keep in retain talent. Yeah. I think the average American would probably say who cares? I have a great job with finally wage growth. But you're right employees are now able to command in some certain sectors and certain parts of the country higher wages than they had previously because you know, employers are essentially begging for talent and some and some places and because we've seen this wage growth. There have been concerns that maybe would see inflation flare at the same time. But that just hasn't been the case, in fact, actually inflation is kind of cooled in a little bit in some areas in recent months, and finally Sharon, we have an important appearance to note this week on Friday the same day that will see the December jobs report Federal Reserve chairman Jerome Powell. Will will take part in a panel. That also includes his predecessors former fed chair Janet Yellen, and Ben Bernanke that should be an interesting gathering. Oh, yes. All of us here in our little bubbles will certainly be watching it very closely. I will it'll be very interesting. I think a lot of people will be watching particularly for any talk of the fed pulling back its pace of rate increases since the recent global market route that we've seen now, of course, chairman Powell certainly isn't went to come out and say, we're we're thinking we're gonna raise rates, you know, fewer times, but you know, any kind of potential utterances that could could signal that maybe they're thinking this way. And we we've already seen that in the dot plot that they released that a lot of officials think that they'll probably be just two or three rate increases and so far Federal Reserve chairman Jerome Powell has reserved commenting more than necessary on recent criticism of the Fed's rate hikes despite criticism from the president, do you anticipate that he might get some support in that regard from his predecessors. Who may be able to speak more freely perhaps on the president's criticism of the fed. That's a really interesting question. I mean, I definitely think that Yellen and Burnett Anki have been known to kind of stay out of the political foray. And I think they'll probably continue down that path. I don't know they they may not necessarily mention President Trump by name, but they'll certainly probably go on about the importance of an independent fed and how that it should be. How should be free from political influence, which of course, would be would be alluding to the recent Trump comments.

Jerome Powell Sharon Lister Federal Reserve Chairman Wall Street Journal President Trump Janet Yellen Washington Donald Trump Reporter Ben Bernanke Burnett Anki
Trump Criticizes Powell, But Congress Supports Him

WSJ What's News

03:31 min | 3 years ago

Trump Criticizes Powell, But Congress Supports Him

"Federal Reserve chairman Jerome Powell has faced criticism from President Trump for the central bank's interest rate hikes, but congress has not joined the criticism instead indicating support for the feds course of rate increases, the fed has raised interest rates three times this year and is expected to do so again at their policy meeting in around two weeks. Let's talk about this relationship between fed chair Powell and congress with Wall Street Journal reporter, Nick Tim rose who joins us from Washington, Nick, President Trump has called the fed out of control and crazy for raising interest rates, but lawmakers particularly Republicans think this path of rate hikes is great don't they? That's right. And it's important to put into context the feds relationship with congress. It really matters to the central Bank because congress created the fed and congress has the power to change the feds legal mandate, which right now is to seek stable prices and maximum employees. And so in the context of the Fed's independence, which you hear a lot about when the president has been attacking the fed will truly matters to the fed is what congress does because if congress were to open up the Federal Reserve act and make changes to it than that that would be seen by some people as a direct attack on the fed. And so the fact that congress here is not only are they not embracing what the president is saying, and that could change, of course. But that you have Republicans who were critical of the fed over the past decade for keeping rates too low who are now a defending what the fed has been doing even though the president of their own party has been attacking the fed. That's very important. Let's talk about that history for a minute haven't Republicans long called for a faster pace of rate hikes to more normal levels from post-crisis lows. Yes. During the Obama administration Republicans were concerned that the fed was to easy. You had Republican leaning economists who sent an open letter in twenty ten to then fed chairman, Ben Bernanke, he saying you're risking with your bond buying programs all sorts of terrible things currency debasement inflation, it'll be the rampant those things did not happen. And now that the fed has been raising rates. It would be hard to maintain a ideologically consistent position and switch from attaching the fed for doing too much when the economy was weaker than it is today. And now they me as much stronger to say, oh, gee, you're overdoing it again. It's it's possible that you could see criticism in the future. But for right now, you haven't on the other hand, the market's really skyrocketed about a week ago or last week after fed chair pal signaled flexibility and setting rates, isn't that the case? Yes. And there was a member of congress who oversees a monetary policy subcommittee. Andy Barr from Kentucky who. Actually, put out a statement after that speech, basically, encouraging chairman Powell to stay the course. And so what you're seeing from Republicans has been a message of defending what what pal has been doing. They've also defended President Trump's right to say, whatever he wants about monetary policy. And then you have Democrats who have been relatively deferential to chairman pal so far at least on monetary policy. The main disputes they've had with the fed have been on some of the moves to loosen

FED Congress President Trump Chairman Jerome Powell Ben Bernanke Wall Street Journal Nick Tim Barack Obama Washington Reporter Andy Barr Kentucky Two Weeks
America may not have the tools to counter the next financial crisis, warn Bernanke, Geithner and Paulson

Bloomberg Daybreak

01:56 min | 3 years ago

America may not have the tools to counter the next financial crisis, warn Bernanke, Geithner and Paulson

"Financial, Services committee we'll bring you the question and. Answer portion of his testimony live the ten AM Wall Street time Well the, fed appears. Confident it. Has the. Weapons needed to fight the next. Financial crisis some former policymakers are not so sure Bloomberg's John Tucker is here live to explain good morning John joint briefing with reporters former fed chair Ben. Bernanke the former Treasury Secretary and New York fed president Tim Geithner and former Treasury Secretary Hank Paulson. Voice concerned about America's ability to combat another financial meltdown Gardner said the fed has less scope to act as, interest rates are lower and argued, that the emergency, powers the proof so essential a decade. Ago are somewhat weaker today Bernanke is worried about longer term consequences of rapidly rising government dead Paulsen also agreed adding it, will slowly strangle us John Tucker Bloomberg daybreak thank you, John on. The trade. Front sources. Tell Bloomberg. That European Commission president young Claude Yonker will. Meet with President Trump in Washington next week where they'll explore the possibility of negotiations to reduce tariffs On cars Yonker will likely. Signal, willingness to consider a deal to reduce auto levies between the US and EU countries. Turning to corporate news now the CEO. Of, Texas Instruments Brian Crutcher has resigned after less than, two months on the job, Charlie Pellett has, the story TI cited violations of the maker's code of conduct. His predecessor rich Templeton will assume, the role on a permanent basis in a statement. The company did not elaborate but it did say quote the violations are related to personal behavior that is not consistent with our ethics and. Core values but not related to company strategy operations. Or financial reporting Charlie Pellett Bloomberg daybreak thank you Charlie Berkshire Hathaway's move removing a cap on stock buybacks that will, give chairman. Warren Buffett. Greater leeway. To dole out profits to shareholders..

Bloomberg FED Charlie Pellett John Tucker Bloomberg Bernanke Claude Yonker President Trump John Treasury Secretary Hank Paulso Charlie Berkshire Hathaway John Tucker United States Warren Buffett Rich Templeton Brian Crutcher Tim Geithner CEO