21 Burst results for "Brad Mcmillan"
"brad mcmillan" Discussed on Bloomberg Radio New York
"Okay? Second of all, you look at the year on year numbers on a bunch of different things. Obviously, energy and food. You're more likely to go down than up simply on a comparison basis. And since they're also dropping on an absolute basis, that gives us a little bit more cushion. And the real question is, are things getting better or worse? And I would say they're getting better. And what you'll get on the other side is, yeah, but shelter inflation, and that's true, but if we drop late to 5, I call that a wet. So what do you like right now? Where do you put your money, especially if you have any cash that you may have built up from sales in the first half? Well, let's take a look at let's put that in the context of what I was talking about about valuations in about earnings. Where are the earnings going to come from? Well, I think it's going to come from people spending more money. So I like consumer discretionary. As inflation goes down, consumer confidence is going to come back. You're going to see real wage growth pick back up. I think people are going to go out there and shop some more. And I think the Walmart data that you just referenced is something that says, yeah, that may be starting to happen. The other thing that I think is out there is we saw tech reprice down dramatically. We saw evaluations drop significantly. And there's still not cheap, but if interest rates have stabilized and if companies want growth and by the way, companies can't really hire, there's still a labor shortage so tech investment is going to have that tailwind. I think tech is also a good place going forward. Plenty of growth play on the consumer. All right, good stuff there, Brad, we appreciate you taking the time. Brad McMillan. CIO managing principal Commonwealth financial network based up there in Waltham mass. That is right outside Boston. It got brandeis right there. You got Bentley college. I mean, I was gonna say Bentley's right there. You know, here's my thing on brandeis. I know about four or 5 people from brandeis. Every one of them is smarter
"brad mcmillan" Discussed on Bloomberg Radio New York
"Never would I have imagined that I would be standing up here talking about the execution of my son By the many apple police department The mayor of Minneapolis has announced a ban on almost all no knock warrants in his city unpaid fuel bills has led to the seizure of a couple of Miami based cruise ships in The Bahamas the New York Post reports U.S. Marshals took possession of crystal cruise's serenity and symphony vessels Friday a judge issued a warrant after a fuel provider accused the crystal cruises of owing past due fuel bills totaling more than four and a half $1 million A detainee at Guantanamo Bay held for a couple of decades should now be sent to a Saudi rehab facility That's the finding of a board at The Pentagon the man Muhammad Al qahtani was captured in 2002 after being suspected of being an intended 9 11 hijacker He was subjected to torture at Guantanamo leaving him on fit to stand trial A Pentagon review board said Friday Alcantara's detention is no longer necessary to protect national security I'm Scott Carr And I'm susannah Palmer in the Bloomberg newsroom An off duty New York City police officer was shot in the foot Saturday as he was leaving a vigil at a Manhattan community center It was the 7th time and NYPD officer has been shot this year The shooting happened around four 30 p.m. near Broadway and 130th street in the borough's manhattanville neighborhood The officer was taken to Mount Sinai morningside hospital in stable condition and is expected to make a full recovery No arrests have been made In the week ahead investors will continue to position themselves for what they think the Federal Reserve will do with regard to interest rates Brad McMillan is chief investment officer at Commonwealth financial network The fed came out and said yes we are going to raise rates and the market reacted And then the market took back took a step back and said but wait a minute the economy is really doing well So earnings are going to be fine valuations are a little bit lower but on the whole onward network And I think that's where we're going On Thursday we get inflation data in the form of the consumer price index for January Well half of America's workers are ready to pile pressure on their employers as they play a risky game with their bosses the story from Bloomberg's Charlie pellet They have spent the past two years heating their bosses and the pandemics unprecedented demands they have watched products disappear from shelves inflation surge and their paychecks purchasing power shrink According to a nationally representative survey conducted by the Harris poll for Bloomberg news America's workers now want more much more about 55% say they are likely to seek out job offers from other companies to get raises of their current firms Charlie pellet Bloomberg radio Global news 24 hours a day on air and on Bloomberg quick take powered by more than 2700 journalists and analysts in more than 120 countries I'm susannah Palmer This is Bloomberg This is Bloomberg Wall Street week Markets shrug off higher consumer prices The economy is in the process of rebounding With a Federal Reserve have its own digital printers The financial stories that sheep are worth Many people think the yields are just going to keep marching up We have more spending coming out of Congress One of the big questions I think on investors minds inflation Through the eyes of the most influential voices Larry summers the former treasury secretary Why am one hand A Bank of America Wells Fargo CEO Charlie sharp Bloomberg Wall Street week with David Weston from Bloomberg radio Searching for direction in corporate earnings in Ukraine and in the economy This is Bloomberg Wall Street week I'm David Weston Markets turned to earnings this week to find some relief from that bad January start And.
"brad mcmillan" Discussed on Bloomberg Radio New York
"Sunday So over the moon to have landed that talks about them I'm Scott Carr And I'm susannah Palmer in the Bloomberg newsroom An off duty New York City police officer was shot in the foot Saturday as he was leaving a vigil at a Manhattan community center It was the 7th time and NYPD officer has been shot this year The shooting happened around four 30 p.m. near Broadway and 138th street in the borough's manhattanville neighborhood The officer was taken to Mount Sinai morningside hospital in stable condition and is expected to make a full recovery No arrests have been made In the week ahead investors will continue to position themselves for what they think the Federal Reserve will do with regard to interest rates Brad McMillan is chief investment officer at Commonwealth financial network The fed came out and said yes we are going to raise rates and the market reacted And then the market took back took a step back and said but wait a minute the economy is really doing well So earnings are going to be fine valuations are a little bit lower but on the whole onward network And I think that's where we're going On Thursday we get inflation data in the form of the consumer price index for January We'll have America's workers are ready to pile pressure on their employers as they play a risky game with their bosses the story from Bloomberg's Charlie pellet They have spent the past two years heating their bosses and the pandemics unprecedented demands they have watched products disappear from shelves inflation surge and their paychecks purchasing power shrink According to a nationally representative survey conducted by the Harris poll for Bloomberg news America's workers now want more much more about 55% say they are likely to seek out job offers from other companies to get raises of their current firms Charlie pellet Bloomberg radio Global news 24 hours a day on air and on Bloomberg quick take powered by more than 2700 journalists and analysts in more than 120 countries I'm susannah Palmer This is Bloomberg This is the Bloomberg business of sports show re explore the big money issues in the world of sports and Michael Barr I'm scarlet Phil And I'm Mike Lynn Can he cross the line first In his own I remember seeing that I can't say what I said at first because I'm like oh my goodness gracious and I'm sure you've heard that before he is the most decorated winter Olympian in U.S. history That was Hall of Fame short track speed skater Apollo Ono capturing the gold at the 2006 Winter Olympics in Italy and we are pleased to have him on the show Thank you for joining us Thanks for having me The first thing I have to start any athlete in the Olympics Literally the world is watching I can't imagine the pressure that is on any athlete at that time Well there's a tremendous amount of pressure I think for every athlete but there's also I think a tremendous amount of joy and happiness that they have trained so hard They have made this Olympic team and now metaphorically speaking to kind of ripping open the curtain to show the world and themselves all of that hard work and dedication in that split moment in time So while I think that there's obviously a ton of external pressure that we've seen that kind of leaks into the athlete mentality but really most important is that the optics are there and they've been through this process before The ice rink is exactly the same as it was two years ago one year ago three months ago There's nothing that's actually changed in mechanically but I think we do definitely host this competition on a bicycle And because of that it feels like a decade or sometimes two decades is really teetering on this moment in time that only lasts 40 seconds long Also part of the game is when you win and you get a gold medal put around your neck You get lots of opportunities to monetize However we're in a situation now where athletes travel all the way to China They may test positive They may be in quarantine when they're supposed to be competing That takes away that possibility for them to get those endorsements How do you think that plays out I mean how much of that is part of an Olympian's journey I think the cold hard truth about the Olympic journey is not really been financially incentivized in the same way that perhaps many other professional sports are You're absolutely right when an athlete goes through with the games and something happens that perhaps is outside of the control They get sick they test positive Something weird happens where they're just not on their game And then you take that dickhead long Sacrifice and dedication And at least from an outside perspective looks like it's gone forever And there's no real value there And so it is tough right A fleeting window in which an Olympic athlete wins a medal and then goes on television shows does the media circuit is celebrated by Brad's embraced by Americans all over the country Seems to at least from the data we've seen be getting shorter shorter And by the way that 15 minutes of fame was really short before I was very blessed in my career to be able to receive a lot of that.
"brad mcmillan" Discussed on Bloomberg Radio New York
"To the globe On Bloomberg radio All right ten and a half minutes left It's okay We're there We're getting there I'm sorry for you all on YouTube I'm like I'm so ready to wrap it up Well I think the markets are out ready to wrap it up We're seeing you know a little bit of a rally today Yeah rally for the week overall Let's get to it Let's drive to the close of Brad McMillan He's chief investment officer managing principal at Commonwealth financial network on the phone from Waltham Massachusetts Brad How are you happy Friday I am warm I am dry and I'm calling that away I know how you feel And how you feel We're going to end up it looks like the week with some gains overall Yeah 2.6% on the NASDAQ for the last 5 days 1.8% on the S&P 500 Carol Which is fairly decent I know we're still down A lot from the record highs How do you come to conclusions after a week of trading like this week Well I think the fed came out and said yes we are going to raise rates and the market reacted And then the market took a step back and said but wait a minute the economy is really doing well So earnings are going to be fine valuations are a little bit lower but on the whole onward network And I think that's where we're going So where does the fed come into this And we had a little debate earlier with our friends at Bloomberg TV about what the jobs report means for what the Federal Reserve does with interest rates this year How are you anticipating the fed raising rates by or after the March meeting Well I think that that is going to start raising rates at March I mean they pretty much telegraphed that I think they're going to do it a quarter point And then we're probably looking at May and probably three or four during the course of the year And the reason I say three or four is the fed is actually on record as saying I want to taper policy but they don't want to shock the markets And right now they're trying to talk to markets back from what they're saying I expect more action on the balance sheet because even as sir George a perma hawk has been saying that's really where we need to make some moves So I think the market is probably saying it's too much in terms of the rate increases And I think the fact is lessening What does it mean now for how we manage our portfolios right now Honestly not much Okay When you look at where stock prices come from It's earnings in its valuations Earnings are going to do fine as we talked about In fact the one message of the jobs report this morning is people are working They're going to be spending So it's all about valuations And we've seen valuations adjust but most of that adjustment is done I think right now if you haven't done anything you should type What about when it comes to asset allocation Brad There I think you need to take a close look at where you are I mean a lot of people have gotten enhanced hard on some of the growth stocks especially if you look at Facebook for example or Netflix You want to start putting money into stocks that are poised to position from growth but aren't necessarily as pricey as some of the poster children are And I think because I think there's a lot of risk there as we saw So go stay with growth stay modestly overweight growth but don't commit to the highest profile how highest valued stocks Is it hard to predict how the year will play out I mean we've done a lot of reporting Brad I'm sure your team and your researchers have taken a look at what happens early on in a rate hiking cycle It tends to be good for the equity markets But this is a year we're coming off of a couple of years in a year and a pandemic that we really don't have the playbook for something we can draw upon to kind of understand maybe what the trajectory is So how do you think about it How do you predict it Because you got to make decisions You do right Managing money or advising others Absolutely Carol And you're absolutely right And I think one of the things people get caught up in is trying to predict some of the individual events which I don't think we can do That's a fools game but if you just take a step back and you look at the biggest picture again where are earnings reasonably going to go Right now we're expecting them to go up to ten or 15% So okay we can expect earnings to go up We're evaluations going to go Okay If we go back to the pre-pandemic probably the bottom is going to be somewhere about 16 times forward earnings which is about 15 to 20% So that kind of says the market is going to be somewhere plus or -5% from where we started the year And it's probably more upside risk than down So that's kind of what we're looking at as we think about the future What would you say to somebody with trying to time the market right now I know it's not something that many people advise doing But is there going to be a better opportunity to get in Are we have we hit the bottom yet I think there's a reasonable chance we go down a little bit further but I also think there's a reasonable chance we bounce So I think it makes sense to wait if you're going to make that bet But it is a bet By far I think the better option is to say okay I'm going to dollar cost average in I'm going to put some money in in case I'm wrong but I'm also going to save some money to put in later on a regular basis if in fact the market does go down Where don't you want to be though Stay away from I think the most highly hyped and price stocks are the ones that are most vulnerable to disappointment I believe in growth but I suspect there's probably another Facebook working out there Another Netflix where we could see a significant drop down So I would be very careful with stocks that are priced for perfection That's interesting It's not alphabet It's not Microsoft We saw that through earnings Fair to say it's not Amazon What is it It's about growth When you look at Amazon as an example everybody's going to go to Amazon They can bake in growth by upping their prime costs which is what they've done When you look at Netflix for example when you look at Facebook they are all about the growth in the number of users And when that soften so to their prospects So I think that's the big difference Is it a different Are they selling eyeballs Are they actually minting money And that's the question All right we gotta run Hey have a good weekend Take care We really appreciate your time as always Brad McMillan chief investment officer managing principal also at Commonwealth financial network on the phone from Waltham Massachusetts And we are seeing stocks roll over just a bit here in our last few minutes of trading We are still up on the day but definitely off our highs of the session of 26 on the Dow S&P better by about 30 points of the NASDAQ the outperformer up about 1.7% in today's session But again we're looking for some gains for the week overall Yeah 2.5% on the NASDAQ 1.6% on the S&P 500 1.1% of the Dow Carol best week for the S&P coming up next for you to be joined by our Bloomberg TV team for beyond the bell live on Bloomberg radio Bloomberg TV and YouTuber counting you.
"brad mcmillan" Discussed on WCBM 680 AM
"Remember Big lose like you. He's on meds to call 805 55 2085 805 55 2085 Apple has released a critical software patch to fix the security vulnerability, the researchers said, could allow hackers to directly in fact, iPhones and other apple devices without any user actions. Security researchers at the University of Toronto Citizen Lab say the flaw was exploited to plant spyware on a Saudi activists iPhone and warned that it could allow hackers to similarly infect other Apple devices. Without any user action. The researchers say The flaw was exploited by Israel's and so group. The company responded with a one sentence statement saying it will continue providing tools for fighting terror and crime Correspondent Jeremy Alice. Pakistan resident has been sentenced to 12 years in prison for conspiracy to unlock phones from 80 MTs network. That scheme caused the company more than $200 million. Mohammad Fahad began bribing employees of an AT and T call Center in both Washington in 2012. This is town hall dot com. So they all feelings were created at the end of Nascar's first playoff elimination race at Bristol Motor Speedway Saturday night. Kyle Larson chased down and passed Kevin Harvick with three laps to go and held him off for his sixth win of the year and first at Bristol. The Larson may have had some help holding off Harvick, thanks to his teammate Chase Elliott. And that led to Harvick's post race confrontation with Elliott, which led to a pushing match and Harvard throwing his gloves and Elliot. They had to be separated. Brad McMillan, BRISTOL, Tennessee 25 action Saturday and everyone. Alabama beat 11th ranked Florida 31 29, the Gators. Mr two point conversion of the final three minutes that would have tied the game. Secondary Georgia down to South Carolina 40 13. It was third, right. Oklahoma. 23, Nebraska. 16 forthright Oregon 48 Stony Brook, seven, the upset of the day. Came as Fresno State defeated previously hadn't beaten to 42 37 on a touchdown with 13 seconds left more of these stories of town hall dot com. I'm Patrick pause. Already the game of politics. It's game time. We're ready. A political football gets exposed. Jeffrey DAYS Parliament. Titian's trying to score points just one more political football. This has been a very tough scrimmage between the two sides. When you compete. You have no guarantee you'll win it as a citizen Referee. They're ready to go. This.
"brad mcmillan" Discussed on KNBR The Sports Leader
"The obligatory pace. Laps are underway here at Atlanta Motor Speedway. As we get ready to drop the green flag on the Quaker State 400 here first, let's go down to our O'Reilly auto parts pit reporters and get their picks on who they think will end up in victory Lane. After this event is over today, we'll start off with Doug Turnbull. All right, I got the first pick yesterday and took full advantage of that. And so I went with the Kyle yesterday. I'm going with one today, but it's Larson, who dominated this race of the spring. Starts at the top 10. He's in the first pit stall coming off of the track. I say Kyle Larson gets revenge on aims and wins the last race here on the old pavement, Alec Avada Erin Lucky on this team, and Doug just took my pick. But I'm going with the other. Kyle Kyle Busch. He sweeps the weekend down here at Atlanta. He's got great speed on the smile and a half racetracks put the candy man in Victory Lane. Now let's go over to Brad McMillan. Well, let's say they left me three other Hendrick cars. Which one do I want? I go with William Byron. This time. I think Hendrick car wins it and I'll go with the 24. Well, thank you very much. Brett McMillan. Those are again are three O'Reilly Auto parts pit reporters today for the Quaker State 400. Let's go back to our turn. Announcers from one more quick hit up in turns one and two Rob Albright, different horsepower configuration and down force. Um, does as opposed to what we saw yesterday in Xfinity race. We've also got different weather conditions. It's about eight or nine degrees cooler than it was yesterday. And we're under complete overcast yesterday sunny for most of the start of this race as they enter turn 1 24.
"brad mcmillan" Discussed on KQED Radio
"Good. 269,000 new jobs in April 583,000 new jobs in May 850,000 in June. It'll be nice if that graph kept going like that up into the right as we look forward to a full jobs recovery. It's not gonna a lot of reasons for that. Of course, some pandemic related some not. But there's also just reality because as marketplaces Mitchell Hartman reports in the labor market as sometimes in life, the last couple of miles to that destination can be the hardest first. While we are adding a lot of jobs month after month now Lot of people are still knocked out of the labor force, not working or even looking. Kurt Long is chief economist at the National Association of Federally Insured Credit Unions were still not seeing the kind of mass exodus from off the sideline to the ranks of the employee that we thought we might be getting this summer. More than three million people have dropped out of the workforce. Long term unemployment is high and rising. We do still have a long slog, and it's going to be some time before we get all these folks back integrated into the labor market. And there are some high hurdles in the way of getting back to full employment. Pre pandemic style hotels, bars and restaurants are still down more than two million jobs, and we're still in the hole in education, government business services manufacturing retail Nearly two million women left the labor force, says Emily Martin at the National Women's Law Center. And while 150,000 of them returned last month, 97% of those women are returning as unemployed. There is still a lot of work to re absorbed to bring back women. Some fundamentals in the labor market may have shifted, says Brad McMillan at Commonwealth Financial Network. People taking early retirement. Staying home with kids or deciding not to take low level jobs unless they pay enough to live on the number of people in the labor force is a proportion of the jobs. Is steadily decreasing. And that means there won't be this excess supply of labor that employers have really grown to rewire on over the past several decades, meaning employers might have to work harder and pay more to get the workers they need. I'm Mitchell Hartman for Marketplace. After more than a year of empty dining rooms and restructuring to do takeout and delivery and somehow keep the doors open. Lot of restaurants are finally seeing customers dining in again. But just because that's happening doesn't mean it's all smooth sailing as restaurants try to navigate getting back to something close to normal, and thus we come to today's installment of our series. My economy. My name is Darren Lu. I'm the son of the current owner of Golden Unicorn. Our restaurant is located in New York City's Chinatown. It's one of the largest dim sum banquet halls, ethnicity. We've always been a pretty classical Cantonese style restaurant that focuses on party banquets for weddings, corporate events, charity events, these sort of Larger public gatherings, and on the other side, it's going to be the tourism that generally Chinatown gardeners pre covid. We would always do carded in some service, which is bringing around a cart with steamer boilers on the bottom, where it would constantly heat the dim sum dishes. So when a card is driven to a table, it's really Fresh and ready to go. And, of course, now we had to retire that just for safety reasons. So we.
"brad mcmillan" Discussed on KNBR The Sports Leader
"To get another spot. You'll do so easily going to the inside out breaking Ryan Blade. He'll set his sights off of the last turn right in front of him is Chris Bush Moved through X Now up to the 13th spot. The winner on the Daytona Road course. Christopher Bell has a major problem. Let's go to Brad McMillan. Thank Christopher Bells coming down Pit road IUs. No fuel pressure Right now. They try having trying to cycle through on the digital dashboard, But he's coming to a stop in his pit stall. Right now we're going to try to diagnose it. All right, so it could be a very, very short day here for Christopher Bell. If they don't get that turned around quickly as right now, Kyle Larson, pinch just a matter of three laps has pulled out to a four second lead. Mark. You and I were talking off air before we came on. There was the possibility he could go out and do the same thing that he did in the Coca Cola 600. I'm not predicting that he will. With this team is hot as they are. That's a distinct possibility. Doug, They have speed and you give Kyle Larson the front of the pack and let him have clean air. Where again As you like to say Clean air is king and he will make you pay for it and he's doing it right now. But again, we're still early. Remember, will have a competition caution on lap number 10 Stage one comes to an end at lap 20. And here we are in this race at this point, just three laps in and it will be for the next time. Bye. Let's go ahead and pick up through X again. It's kind of fun. Watching him charge up through the pack here is he had to start 19th last time around. He was scored. 13, and now he is headed back into turn 10 Rob Albright with a competition caution coming up at lap 10. He wants to pick up as many spots as they can. Now he'll run down Chris Butcher. Push your heart on the brakes. But true, it's just powers into turn 11. He'll get alongside extorted.
"brad mcmillan" Discussed on 90.3 KAZU
"Along, everybody. It is going to be a busy day tomorrow for soon to be President Biden and his administration executive orders to issue on the virus and vaccines, Immigration and this economy work, of course to do on the $1.9 trillion relief package he is going to send to Congress. So, as I said, we thought it might be a good idea to step back and assess for just a minute. Exactly where this economy is, as power changes hands while the recovery sputters and the virus remains in control marketplaces Mitchell Hartmann has that story. Joe Biden has kind of been here before 12. Years ago, he and President Obama took over in the midst of the great recession. If anything, this is even worse. University of Chicago economist Austin Goolsbee chaired the Obama White House Council of Economic Advisers were in a catastrophic Health and economic crisis. We're still as bad by some measures as the lowest point of the great recession. We're still down 10 million jobs more than 5% of all jobs before the pandemic. And as the virus surged and lockdowns return this winter, consumer confidence and retail sales fell. The economy started losing jobs again, but the worst is likely now behind us, says Douglas Holtz, taken who was the chief economist on George W. Bush's Council of Economic Advisors. There remains a tremendous amount of underlying strength in the U. S economy. If we can sustain those who have been out of work with the relief that we've seen Congress passed and deal with the virus, there's a good platform to jump off from Including lots of pent up consumer demand and accumulated wealth in the hands of higher income Americans. But Brad McMillan at Commonwealth Financial Network warns that low income households and business owners could suffer a lot more in the 6 to 9 months that it'll take for vaccination to induce a post covert recovery. People lose their apartments, their homes that cripples them and their ability to recover. We've seen tremendous tragic damage to small businesses. The longer this goes on, and the less people spend, the more of them are going to shut down and not come back, and that will only make the recovery harder and longer. I'm Mitchell Hartman for marketplace. So Mitchell talked about jobs there in the middle of that piece. We are going to do some jobs through the program today, unemployment being As it is one of the identifying features of this recession. The national unemployment rate was 6.7% in December, down from a pandemic high of nearly 15% in April. If you remember that Still, though, it's close to double where we were before this thing, so Joblessness varies widely by gender and race. We've talked about that a lot, also by state, which is where we're going to spend some time today, unemployment as proxy for how uneven this recovery is. Hawaii is where we go first, an economy based mostly in tourism, of course, one of the highest unemployment rates in the country right now, 10.1% again 6.7% nationally. We got men who powers on the phone. She runs a business with her husband in Kona called seaQuest, Hawaii. It does boat tour for historical ng and seeing man arrays and that sort of thing. Money. Welcome to the program. Thanks for having me guys thistles. The standard first question When I talked to Ah, small business owner. How is business? Businesses pour it. Businesses dramatically decreased, So let's put it that way. And I would go so far as to say, That's an understatement. And we're operating currently this week at about 5%, and that is definitely not enough to sustain us. It's been a painful year to say the very least. Yeah, I'm sure this this question of being able to sustain you. You have been going through this pandemic now, as the rest of us have for 10 months. You were as I understand it closed for a number of months entirely. Um, how much longer can you keep going? Um, I would say, thanks to you know some of the government funding that was made available to us, and we were quick to act on that we could probably sustain until the fall at this rate on guy think that that's Much better than most have fared through this. When we purchased seaQuest in 2015, the company had eight employees and when we shut down in March of 2020, we had 44 employees and business was doing 600% what it had been when we first started. So our business model was based on that growth. So when business was completely shut down, the model was thrown out the window and they became survival mode. When you've got a town that is entirely dependent on contour ism one way or another. You're looking at a very difficult time for the residents, and hopefully we survive this. The 35 ish or so people that you've had to lay off or let go. What are they doing now? Do you know A lot of them have moved away. Um some of them are hanging in there, You know, living off unemployment, hoping for another stimulus package like we just got so that be an extension of their benefits. But it's tough. Even my husband. He's even taken a side job to support us through this because, of course we had just purchased at home and mortgage. That was equivalent to what our income was at that time, And so now we have to sustain that. We hope to walk out of this with Our home and our assets in place. In other words, our boats building the boats, Aaron, etcetera, whether we're able to do that, we'll see on the topic of you and your husband taking on other jobs. Um Tell me about your reservations person and what it meant to you to be able to hire one. And then I'm gonna guess Now. You don't need that person anymore, Right? So you're speaking to the resolution person this whereas right before the pandemic, we had full coverage and that was a real milestone for us psychologically emotionally. And so now, where glued to the business again and that can be really stressful. We have three young Children were high school sweethearts, So I think that we're going to make it check back in six months, but but we have had stress placed on us that we could have never imagined. And so we're trying to stay positive. Yeah, And that's how we we see this. This is an opportunity for us to get back into the business. Dig deep, really figure out some new strategies and then next to diversify. We've learned anything. It's that diversification is critical and hopefully Should we ever face something like this again? There will be multiple revenue avenues for us to fall back on. Look best of luck to you. My new powers she and her husband on seaQuest. Why yet? They're in Kona. Manu. Thanks a lot. I appreciate your time. Here's my pleasure, kind. Thanks for having me Florida and then Nebraska are gonna round out our state unemployment serve a little bit later in the program traders on Wall Street in the meanwhile we're choosing to see the silver linings in this economy today. Shocking. I know. We'll have the details when we do the numbers. Yeah. Also busy today. Getting ready.
"brad mcmillan" Discussed on WNYC 93.9 FM
"The 19th of January. Good is always have you along, everybody. It is going to be a busy day tomorrow for soon to be President Biden and his administration executive orders to issue on the virus in vaccines, immigration and this economy work, of course, to do on the $1.9 trillion relief package he is going to send to Congress. So, as I said, we thought it might be a good idea to step back and assess for just a minute. Exactly where this economy is, as power changes hands while the recovery sputters and the virus remains in control marketplaces Mitchell Hartmann has that story. Joe Biden has kind of been here before 12. Years ago, he and President Obama took over in the midst of the great recession. If anything, this is even worse. University of Chicago economist Austin Goolsbee chaired the Obama White House Council of Economic Advisers were in a catastrophic Health and economic crisis. We're still as bad by some measures as the lowest point of the great recession. We're still down 10 million jobs more than 5% of all jobs before the pandemic. And as the virus surged and lockdowns return this winter, consumer confidence and retail sales fell. The economy started losing jobs again, but the worst is likely now behind us, says Douglas Holtz, taken who was the chief economist on George W. Bush's Council of Economic Advisors. There remains a tremendous amount of underlying strength in the U. S economy. If we can sustain those who have been out of work with the relief that we've seen Congress passed and deal with the virus, there's a good platform to jump off from Including lots of pent up consumer demand and accumulated wealth in the hands of higher income Americans. But Brad McMillan at Commonwealth Financial Network warns that low income households and business owners could suffer a lot more in the 6 to 9 months that it'll take for vaccination to induce a post covert recovery if people lose their apartments, their homes that cripples them and their ability to recover. We've seen tremendous tragic damage to small businesses. The longer this goes on, and the less people spend, the more of them are going to shut down and not come back, and that will only make the recovery harder and longer. I'm Mitchell Hartman for marketplace. So Mitchell talked about jobs there in the middle of that piece. We are going to do some jobs through the program today, unemployment being As it is one of the identifying features of this recession. The national unemployment rate was 6.7% in December, down from a pandemic high of nearly 15% in April. If you remember that Still, though, it's close to double where we were before this thing, so joblessness varies widely by gender and race. We've talked about that a lot, also by state, which is where we're going to spend some time today. Unemployment as proxy. For how on even this recovery is Hawaii is where we go first, an economy based mostly in tourism, of course, one of the highest unemployment rates in the country right now, 10.1% Again. 6.7%. Nationally, We got menu powers on the phone. She runs a business with her husband in Kona called seaQuest, Hawaii. It does boat tour for historical ng and seeing man a raise and that sort of thing. Money. Welcome to the program. Thanks for having me guys. This is the standard first question. When I talked to Ah, small business owner. How is business? Business is poor business is dramatically decreased. So let's put it that way. And I would go so far as to say That's an understatement. And we are operating currently this week at about 5%, and that is definitely not enough to sustain us. It's been a painful year to say the very least. Yeah, I'm sure this this question of being able to sustain you. You have been going through this pandemic now, as the rest of us have for 10 months. You were as I understand it closed for a number of months entirely. Um, how much longer can you keep going? Um, I would say, thanks to you know some of the government funding that was made available to us, and we were quick to act on that we could probably sustain until the fall at this rate on guy think that that's Much better than most have fared through this. When we purchased seaQuest in 2015, the company had eight employees and when we shut down in March of 2020, we had 44 employees and business was doing 600% what it had the only first started. So our business model was based on that growth. So when business was completely shut down, the model was thrown out the window and they became survival mode. When you've got a town that is entirely dependent on contours, and one way or another, you're looking at a very difficult time for the residents, and hopefully we survive this. The 35 ish or so people that you've had to lay off or let go. What are they doing now? Do you know A lot of them have moved away. Um some of them are hanging in there, You know, living off unemployment, hoping for another stimulus package like we just got so there'd be an extension of their benefits. But it's tough. Even my husband. He's even taken a side job to support us through this because, of course we had just purchased at home and the mortgage. That was equivalent to what our income was at that time, And so now we have to sustain that. We hope to walk out of this with Our home and our assets in place. In other words, our boats building the boats, Aaron, etcetera, whether we're able to do that, we'll see on the topic of you and your husband taking on other jobs. Um Tell me about your reservations person and what it meant to you to be able to hire one. And then I'm going to guess now. You don't need that person anymore, Right? So you're speaking to the resolution person at this. Whereas right before the pandemic. We had full coverage, and that was a real milestone for us psychologically emotionally. And so now, where glued to the business again and that can be really stressful. We have three young Children were high school sweethearts, So I think that we're going to make it check back in six months, but but we have Had stress placed on us that we could have never imagined. And so we're trying to stay positive, you know, and that's how we we see this. This is an opportunity for us to get back into the business. Dig deep, really figure out some new strategies and then next to diversify. We've learned anything. It's that diversification is critical and hopefully Should we ever face something like this again? There will be multiple Revenue Avenue was for us to fall back on. Look best elected. You my new powers. She and her husband on seaQuest. Why yet? They're in Kona. 100. Thanks a lot. I appreciate your time. Here's my pleasure, kind. Thanks for having me Florida and then Nebraska are gonna round out our state unemployment serve a little bit later in the program traders on Wall Street in the meanwhile we're choosing to see the silver linings in this economy today. Shocking. I know. We'll have the details when we do the numbers. Mm hmm. Also.
"brad mcmillan" Discussed on Bloomberg Radio New York
"It's not an FDA approved alternative to smoking. And it's also not the same as quitting. I'm Brian Sharpe. And I'm Denise Pellegrini in the Bloomberg News from US stocks will start out the new year. Coming off some pretty positive momentum. They gained slightly on Thursday on their way way higher on the year. Brad McMillan is chief investment officer at Commonwealth Financial Network. We're within a couple of weeks of the beginning of the end of the pandemic. I think that's going to drive the economy and the market's up further. The CEO of Delta also eyeing the possible end of the pandemic, he says again. He wants the company to be cash flow positive by this spring, and he also notes the airline is preparing for a year of recovery. The job market will be in focus next week with that December jobs report coming on Friday. Laura Rain is chief U. S economist at FS Investments, she says, Don't be surprised if the job market signals a slow down. You see the unemployment rate come down to less than 7%. But very beneath. That is the fact that awful lot of people and probably because schools aren't open. You could think of a lot of reasons why people have taken their elders out of nursing homes. You could think of a lot of reasons why During this panda people have decided to stop looking for work. A New York life insurance has capped off 2020 by completing the biggest deal in its 175 year history. We get born that from Bloomberg's Charlie Pellet, the company closed of the $6.3 billion cash purchase of a signal unit that sells life accident and disability insurance. The takeover will add roughly 3000 employees. And more than nine.
"brad mcmillan" Discussed on KQED Radio
"People at the Department of Labor this morning came the latest indicator of the health of this economy. After four straight months of increases, Consumer prices inflation, right It held steady in October on the face of it not so bad in an economy beaten up by this pandemic. But as often happened with seemingly not so bad news, there is more to it. Those steady prices even falling prices in some sectors are telling the story of a recovery losing steam and his marketplaces, Mitchell Hartman, reports. It all comes down to supply and demand. We've seen this supply and demand push. Pull on. Price is right through the pandemic. Remember back in the summer when Cove it shut down food processing plants, and they were meat shortages. Supply fell and meat prices went up. Now, consumer demand in the economy is weakening and holding prices down with Covitz urging consumers don't want to go out and spend money and they may not be able to, says economist Dan North at credit insurer Euler Hermes North America restrictions and they're already coming In some states. It's going to shut down significant parts of the economy like it did before, and it'll make consumption very difficult. Fear of mortgage job and income losses is also keeping demand down, says Sam Stovall at CFR a research. A lot of people are still very worried about overspending. If they do have a job. They're worried about being furloughed with the additional spike in Cove. It We're running into the end of the year. We've gotten income Cliff coming up for a bunch of people. That's Brad McMillan at Commonwealth Financial Network and the Income Cliff He's referring to is the expiration of federal pandemic unemployment benefits at the end of the year. That adds up to billions of weak in payments to more than 13 million Americans, and that's not all that's set to run out. It's not just a matter of income, it's the prohibition of the evictions, Foreclosures. In other words, there's a lot of financial damage that isn't showing up on the radar right now, but will start to show up very shortly unless McMillan says Congress extends those payments and protections before they expire in December. I'm Mitchell Hartman for marketplace. You just heard from Mitchell about the income cliff coming up at the end of the year. Right? Still, though, Senate Majority Leader Mitch McConnell said again today there is not going to be another big coronavirus relief bill out of Congress if it happens at all. Gonna be closer. What he was talking about before the election, something you're $500 billion a skinny package if you will. But with unemployment still high and the virus on the rise will that skinny bill help the people who need it? Most? No. They won't beggar agile or is a senior economist at the Center for American Progress. He writes about this kind of thing. Welcome to the program. Thank you for having me as you just heard, Senator McConnell said Once again day, hey, does not see the need for a large relief package for this economy. Um, what do you think? It is very surprising to hear that given where we are in terms of the pandemic, but also given what happened earlier this year if you think about what happened in March and April, and the cares act and how that helped out the economy. We shouldn't want Maura that given the numbers You have said repeatedly said it on Twitter the other day, and you've said in a piece online within the past week or so. Our economic policies are basically geared toward white men. If white men are doing fine, then we get the economic policy that white men need. That is correct. Because if you look at the numbers, you look at what happened in April, when we had the peak of unemployment. General employment was at 14.7% White men had unemployment rate of 12.4%. That's when we saw the cares act. That's what we saw all the other things and P p p. And a lot of spending toe. How about this economy? Since then, the unemployment rate for white man has dropped down now to 5.8%. And so you could look at these policymakers say, Oh, well, things are looking good. But if you look at it for other groups, so, for example, black men are 11.5%. So black men have a similar unemployment rate that white men had in April and then you also even look at what's happening with women Women Last month, 865,000 dropped out of the labor force that they're not even counted it unemployment and the only got half that back. But if you look only at white men with 5.8% unemployment rate, then you could say all we only need a skinny bill. White men are not the economy, everybody's economy and we have to focus on that. Let me ask you one more thing and On, I guess it. It makes sense, given the state of play right now, But you wrote the other day. Um as this pandemic has hit home, lawmakers cannot be counted on to respond to the magnitude off this crisis or any future economic crisis. That is fairly bleak that we can't count on Washington T O fix this economy when it so desperately needs it. That's the truth. We lost a lot of jobs, unemployment, Pete that almost 15% and we put in $34 trillion into the economy, And the thing is it worked. And instead of putting more money back in continuing these things like direct checks or expanded you why which help people look, you said eight million people out of poverty. Policymakers sat on their hands and let it expire and all the way through the election. It didn't happen. Shocking Pretty much, everybody so Of course, you know we can't. We can't expect policy makes you do that, because it's a position where they would have done it. When he should have done it. We didn't see it so we can't trust him anymore. Well, how worried are you then about what is likely to happen in January, Assuming Republicans hold the Senate, right, and I get that I'm making some assumptions there, but President Biden will come in with a larger stimulus bill. It will pass the house and then it will again be subject to Republicans in the Senate. Who will say no, We don't need it. And more importantly, we have to start thinking about austerity because we're spending too much money. Then what happens in this recovery? What I think is gonna happen is that we are going to end up with something close to a skinny bill. And then policymakers are gonna wipe their hands and then say, OK, well,.
"brad mcmillan" Discussed on WNYC 93.9 FM
"In Los Angeles on Cairo. It is Friday. Today, everybody the fourth day of September. Good as always to have you along. A macro and an economic number of the day as this pandemic get set to enter its seventh month if you can believe that is 1.37 million that his jobs added to this economy in the month of August. Three million people had been temporarily laid off came back to work and that helped bring the unemployment rate down. Almost 2% points to 8.4%. All of that is good. Like I said. But a chunk of those jobs a quarter million or so our temporary census workers. We're going to be out of work again soon. And more to the point. Job growth is slowing a million plus in August, as I said it was nearly five million a month back in June. What else? What you bear in mind Marketplaces? Mitchell Hartmann is on the putting The jobs report in context beat today. This economy has been through a lot since mid March. About 15% of all the jobs in America evaporated in just a few weeks. We've been clawing back those jobs ever since. Here's how Brad McMillan at Commonwealth Financial Network rates the latest report. It was good. It wasn't great, but it was certainly solid, it says. We're continuing to make progress, but we also have a long way to go. Gaining 1.4 million jobs would be blockbuster in normal times. But economist Beth Acres at the Manhattan Institute says Now that number may be giving the impression that we're doing pretty well digging out of this hole. But the reality is that we're only about halfway out a little over 10 million of the 22 million jobs we've lost have come back. And job gains. Air Slowing, Acres, says This is really a tale of two recoveries, Employment levels for higher income workers have almost come back to pre crisis level. Where is employment levels for low wage workers remain significantly below where they were, and it's also unclear when those workers will be able to get back to work. Jobs in bars and restaurants, for instance, are still down 25% from before the pandemic, which leaves a lot of workers out of the recovery so far. Like Cody Sorenson. He's 33 worked as a server at an upscale Italian restaurant in West Hollywood until mid March. Sorenson's on indefinite layoff. He's still getting health benefits and a $400 a week unemployment check when that runs out. I mean, I'm just gonna have to go and find like another job, or are you just going to move? I guess back on the Texas you know where he hopes they'll be less competition for any new jobs that come up. I'm Mitchell Hartmann for marketplace. All right, with that, as backdrop, let's dig in a little bit on jobs and the other news of the day. And this week, genius Milik is with The New York Times. K. Davidson is at the Wall Street Journal. Hey, you two I can't. Okay, let me start with you. Ah, picking up on Mitchell's spot, and he gave a nod to this, but I want to. I want to make sure people get it. There is despite this good, not great report today. There's some underlying fragility in this economy. Right? 29 million people on some kind of unemployment benefit small businesses closing left and right, Yeah. That's right. A cz You sort of hinted at sky. It was kind of it was kind of a mixed report. You know, on the one hand 8.4% Unemployment is much lower than where many people thought we'd be at this point, But things are still really bad. And I guess the thing to understand is that the people who are still out of work, many of them are people at the lower end of the wage scale that have jobs and industries that have been harder hit by the pandemic. Hotel workers, restaurant workers, people in industries Are still struggling to come back on. And the longer these people stay out of work. The risk is that those more and more of those job loss has become become permanent. So it's on the right track. But you know a long way to go still. Hear those permanent job losses that longstanding damage the economy. Gina is something Fisher Pala talks about a lot haven interview to morning edition this morning is gonna air I think on Monday the transcript is out for those who wanted again. I wantto parts a couple of things you said number one. Low interest rates in this economy are going to be here, and this is quoting pal for a period measured in years. That is, I mean, it's kind of we know it, but it's kind of amazing. Yeah, yeah, no surprise to bond markets, which are, you know, obviously recognizing that we're in for a really long period of low interest rates, But I think that Yeah, it's it's remarkable if you remember back to 2007 to 2009 recession and, you know, sort of within within, not a very long time span people we're talking about, you know, when is lift off? When is the fed going to raise rates? You know what? When did they start moving this extraordinary accommodation and I feel like You know, in the over the last decade, That conversation is just fundamentally shift and shifted. And a lot of that was T Drum pal who has been very clear about communicating that we're in this federation. You know, they're not planning on just like immediately raising rates As soon as we get past sort of the worst of this recession. We're in this this environment for a really long time until the job market has, you know he owed and really after what the Goddess said quite clearly is until inflation picks up. Which goes back to what he was talking about last week in pseudo Jackson Hole, As or Kate, one of the other things that pallet talked about with morning Edition today is.
"brad mcmillan" Discussed on The Bone 102.5
"Now on 97.1 ws. 32 holiday. Tampa ST Pete, This is the driver, the dollar General Toda camera. You're listening to race day live on one or 25 the bone Tampa Bay's home for NASCAR. Time now, for our pre race ritual of letting our pit reporters pick who's going to be in Victory Lane with our witch pics, we'll start off with Brad Gillie. Well, Doug, I don't think any of us want to take the low hanging fruit today and maybe be more adventurous and not pick someone say, like Kevin Harvick. So I'm going to say the same car or at least the same looking car that went to victory Lane Thursday night and Friday night with Austin Cindric. Go to Victory Lane here today. Brad Kozlowski with another winner, Kentucky now over to Britain. Villain to Brad. I'm gonna pass on the low hanging fruit that is Kevin Harvick. And I'm gonna go with a guy who wasn't wanna stage all year long. But he has won twice here, Kentucky. Now he'll win Number three. That is Kyle Busch. Alright, So those are our wicks picks. I think the low hanging fruit was because Brad Brad McMillan myself went over and visited the Big Ark. That's about 30 miles from Kentucky Speedway, and it was a huge part of it devoted to He'd bite in the apple. Now we also made Wicks picks and I went with a low hanging fruit with Kevin Harman, I'm going to go with a guy that Started out the year sizzling hot has one window that lately has faded a little bit. Chase Elliott. Hey, certainly is due. They've had some pretty rough goes of it here lately. The cars now are moving down pit lane kind of setting their tak commoners if you will for the 45 mile per hour speed limit. Now during the race today, the Toyota Camry TRD is going TRD camera is going to be running 55 miles around the right 55 miles per hour around the race track with force the pace driver, a neighbour down there near me. Midway, North Carolina Kit Childress at the controls, and right now, let's go back to our turns as we are now, just a lap or so away. I'm getting the Quaker State 400 underway back to turns one and two and Mr Doug Turnbull, it turns wanted to hear Is you exit the front straightaway are 17 degrees of banking and they're a little bit tighter that turns three and four and just like we've been talking about through the week's filter spree ratio, it's been mostly a one group racetrack.
"brad mcmillan" Discussed on The Bone 102.5
"Now for our auto trader, data downloads a nice little tidbits that you need to be aware of before we drop the green flag, the average race time here. Under three hours, two hours, 49 minutes and 45 seconds is just about perfect in the dug rice book, Professional distance is 267 left, 400.5 miles. Two stages today 80 laps 160 we'll throw the green will throw the checkered flag and clap to 67. There will be a competition caution today at last 25 pit road speed 45 miles per hour. Caution. Car Speed, 55 miles per hour auto trader is the only one with Kelley Blue Book Price adviser. So you know the price is fair price confidence from auto trader finally. It's easy. Now. Let's get a view from the turns. First in turns one into Doug Turnbull and Doug. We have, Of course, the PJ won the sticky stuff the grips trip. We've seen that the 1st 2 nights Thursday and Friday for the Xfinity. Siri's up there in the second and third grooves. But now NASCAR's added a little strip down at the bottom. To try to make it a little bit more competitive there. Write the script issues that we see on the bottom that's on the lighter, great portion. Right? Hugged the yellow line, It turns wanted to hear it has been there, but it's not been enough grip to give the drivers any room to really pass very easily through these Senate turns right here and where NASCAR reapplied PJ one early this morning has been in the same group, which is essentially the middle group here through turns wanted to The drivers have been using all weekend long that we saw races of the past, but they were able to get to wide here, but it seems like the traction compound has really made. The difference here made it pretty much a one group racetrack. Somebody be watching that here also turned to really going to be seeing if they could even make the first set of laps on Thursday night. Jeff Burton crashed to turn to on lap one of that race that'll lap 32 days later. The next night, it was the 39 machine of ride seed crashing. So we've seen a lot of calamity had turned to and made for real interesting opening labs, though the trucks were able to make it through yesterday. Now scripted turns three and four. And the racing guide Pat Patterson. Alright, Thank you, Marc. Thank you, Doug. Happy race day, everybody a cz. Doug was just talking about the the PJ one's been reapplied. They did that down on this end of the racetrack as well. They came down. Maybe just a little bit Couple feet, maybe lower on the race track. Then then we've seen the last couple of days. Course we had ourselves a Ah, Frog Strangler Last night of a rainstorm came through here and kind of washed all this stuff up, So they've touched it up his best that they can the thing about this race track and where I stand down here and we talk about it throughout the year, turned three at this racetrack grip, strip or not, is one of the trickiest places in the world cause it's really flat. When you get down here, you're hauling the mail down the back stretch. Here you come down here. Turn three and and you're just you're flying. And And you. What happens is is that the turn flattens out, which means when you start put, William put in. You start dragging that front left tyre across that asphalt and it wears out, And that's something that the crew Chiefs watch all day long. So passing somebody down here. You put somebody in a bad position where this already flattening out in the corner. You're trying to pass him on the outside, and we've seen a lot of action over the past couple. Three days of racing here that's occurred going into the corner here now, the walls all the way around this racetrack or bright green and they're they're spotless. There. They will have a mark Autumn. If we can make it through the day without a mark on these green walls, it will amaze the racing guy down here and three and four were looking forward to it. Thanks, Pat. And again, this 1.5 mile race track. The only straight part of it is actually the back straightaway the front straightaway and again if you Had a helicopter hovering over head Looks like a capital D. The garage area set up in a W. For Darryl Walter, who helped design this racetrack and done what we saw Thursday and Friday during the Xfinity Series race. Grey. Bad black. Good. If you're riding around on the bottom of the racetrack, and you're stuck in the gray, you're losing a lot of ground. If Europe in the black, you're running pretty good, because you're on the grip stripped the P. J. I think you made note during a couple of our infinity races mark that if you get out of line here, there's a lot of drafting at this place. You go backwards like you do at Daytona and Talladega. You need to stay up in the group. Because if you drop down to the bottom and try to be Joe hero you're going to pay for the one thing you have to make sure of When you drop down to the bottom. You have to make that pass at the exit of attorney there turned to our turn for because if you miss it, you're down in the grey. You gotta back off the gas to get around the corner safely. And as you talked about Doug, they just run by you like you're a Talladega Last little note. We have had one day race here. A Kentucky speedway think four years ago. We Cancel because of rain. We came back and ran on a Monday don't like that, but the one good thing about it was actually we ran on a Sunday because the race is scheduled for Saturday night. The race was excellent. It might have been from start to finish the best race that we've ever senior. So I'm kind of excited about watching the cup cars race in the sunshine. Doug. When you have this much heat on the racetrack, things get a little bit slicker. No matter if you have the grip strip or not in the corners. It makes it a little more challenging a little more treacherous for the drivers. And as you talked about usually does make for a better right, so coming up, we will be going trackside Brad Gillie and Brad McMillan, armed with their six foot long social distancing boom mikes will have us some interviews coming up from pit road and Toyota racing. All.
Fed's jerome Powell Says Congress Should Do More To Save Economy
"With all possible. Respect to Jay Powell. The Chairman of the Federal Reserve is saving a cratering. American economy is no easy thing right but with all respect the time ten weeks into this thing has come to say all right. Show me what you got and we say that because Miss Pal has in television interviews in congressional testimony made clear that he believes Congress while already having done a lot of risky work should do more but he has also said. Mr Powell has what us the Fed. Oh we're not gonNA run at it and munition in more proper actual fedspeak yesterday. Ms Powell told the Senate Banking Committee. The Fed is quote committed to using our full range of tools to support the economy in this challenging time and quote so those tools what might be. Here's marketplace's Mitchell Hartman. Think of the Fed like a plumber. It's job is to make sure money keeps flowing through the US financial system when the system gets clogged by say a pandemic. The Fed whips out its monetary policy wrenches and drain remorse to unclog the flow of money. Make it cheaper and less risky to borrow and land. That's what the Fed did in mid March when it cut interest rates to zero says Brad McMillan at Commonwealth financial and that was really key to preventing paddock. Because of what? It said that the central bank was not going to let a crisis happen since then. The feds kept money flowing by adjusting banking rules. Buying up Treasury and mortgage bonds and the list goes on says Mark Zandi at Moody's analytics so the Stock Bond Markets Credit markets. Broadly are functioning. Well they still have some more room to maneuver here if they need to. Zandi says the Fed could backstop the mortgage market as more homeowners delay monthly payments and could buy more and riskier corporate bonds to keep credit flowing and the Fed is about to get money out to small and mid sized businesses through its new main street lending facility but one thing the Fed can't do says Andy is pumped money directly into the economy. Good things going again. Now that the people lost lots of jobs people very nervous lot of uncertainty. And that's more difficult for the Fed. The Central Bank could try to help Americans more directly says MIT economist. Deborah Lucas. Let's call helicopter money. They could print money and they could distribute it to households but she says that would be risky and would require the Fed to manipulate the money supply and banking system in ways it never has before I'm Mitchell Hartman for
"brad mcmillan" Discussed on Bloomberg Radio New York
"Headquarters line Charlie one a day on Wall Street water recovery we are closing out. all of the day for the down the S. and P. and nasdaq the Dow gaining one hundred twenty three points at the close here up by five tenths of one percent folks from Nuveen by the way ring at closing bell S. and P. up twenty three that was a gain of eight tenths of one percent nasdaq up eighty seven a gain of one point one percent keep in mind that at the worst level of the day the Dow had been down one point three percent lower by three hundred thirty five points S. and P. had been down thirty one down one point one percent again the S. and P. closing higher today up twenty three a gain there of eight tenths of one percent so stocks advanced as investors ramped up their bets at the federal reserve will be cutting rates this month to shore up an economy showing increasing signs of weakness treasuries rallied with a ten year eighteen thirty seconds the yield one point five three percent now what about the overall mood of the market Brad McMillan is chief investment officer at Commonwealth financial network he was our guest moments ago right here on Bloomberg businessweek the working question is do we have another two thousand and eight and I don't think we do because we simply don't have the kind of imbalances that we had that that wasn't just a market downturn it wasn't just a recession it was a crisis it was a potential collapse of the financial system and that's not in the cards right now gold up four tenths of one percent fifteen oh six the ons West Texas intermediate crude down six tenths of one percent fifty two thirty two a barrel GoPro down nineteen percent today GoPro plunged after cutting its forecast to do a production delay with its new Herald eight camera pepsico said it expects to meet or exceed its full year revenue growth target after sales and earnings beat expectations in the latest quarter helped by strength in Frito lay snack foods Tesla shares slumping after the electric vehicle makers third quarter car deliveries failed to match up to recently elevated expectations Tesla down four point one percent recapping stocks are what a turn around with the S. and P. up twenty three up eight ten. of one percent I'm Charlie public that's a Bloomberg business flash. I.
"brad mcmillan" Discussed on KCRW
"As the answer me and I were saying American consumers thank you thank you thank you forget the terrace and the trade war and global weakness American consumers are in it more solid indicators of that this morning retail sales up four tenths percent in August way more than experts have been guessing and hot on the heels of a strong July to boot and the consumer sentiment survey that the university of Michigan puts out has bounced back from a couple of down months. and yet we keep getting reports that business investment is down and confidence among business owners and CEOs is down as well market place's Mitchell Hartman explains why those two paths diverge in an economy at this point it appears consumers and businesses are on different pages consumers are in the mood to spend business leaders not so much it's so much that they're living in different worlds Brad McMillan at Commonwealth financial says businesses are worried about the global economy and the risk of recession they have to hire people the labor market is quite high they have to buy supplies that's been complicated by the trade war sure they're getting hit on a bunch of different fronts he says consumers haven't seen much impact from the tariffs so far what matters most to them am I working why did the job am I getting a raise so as far as the consumer is concerned everything is good but in the business world gross in capital spending has fallen by half this year so Sam Stovall it's CFRA research he says many CEOs are well aware this is the longest economic expansion in history or at least since eighteen fifty seven and sooner or later it will end up slowing or ending six in ten business decision makers think a recession will hit in the next eighteen months according to a new survey from grand Thorton and analyst Chris Stevenson says there's a pause right now a pause to plan for potential recession consumer attitudes aren't anywhere near as pessimistic says Richard curtain who runs the consumer sentiment survey at the university of Michigan they're not at their record peaks anymore but they're still very positive curtain says with the job market strong and wages rising consumers whose spending makes up two thirds of GDP are brushing off warning signs of a coming recession I'm Mitchell Hartman for market place here's another entry on the list. of how much longer can mall based retail hang on anyway stories there are reports today that forever twenty one is going to close more than a hundred stores as part of a bankruptcy filing the aforementioned troubles the befallen malls is partly to Brent blame of course declining foot traffic primary among them but therein lies the catch twenty two right because when I once reliable mall staple like forever twenty one closes there is even less foot traffic and meanwhile the classic mall anchors like JC Penney and Sears and Macy's or closing stores as well so what are shopping malls doing to get people in the door these days market place's Amy Scott has them. the traditional mall like the one in this commercial from the seventies often featured for anchor department stores that brought traffic to the rest of the month. the head company with the doctor and with many.
Kimberly Adams, Mickey Levy And Chief Economist discussed on Marketplace
"Yesterday was ugly the bond market was this week signed the apocalypse is upon us and then this morning hello American consumers retail sales numbers came out today up sharply last month compared to June ahead of expectations in point of fact so with the apocalyptic bond market on one hand the consumers on a spending spree on the other and the stock market in the middle doing who knows what marketplace Kimberly Adams explains the mixed messages this economy is sending with all the headlines about a possible looming recession it's worth noting the economy at least for now is still doing okay Mickey levy is the chief economist at Berenberg capital markets there's a clear disconnect between the economy that's growing you know pretty close to its potential path and bond yields there signaling something quite negative traders see troubles ahead the ongoing US China trade war Briggs it a global manufacturing slowdown regular consumers whose spending is the main driver of the American economy they're not too worried about it Brad McMillan is with the Commonwealth financial network when you look at consumer confidence it's actually quite high and they're not only saying things are good to actually voting with their wallets by spending which is ironically exactly how people tend to behave heading into an economic downturn American consumers not apartment stomach sailors on leave Brian Gilden burgers with cantar consulting you know it's like well I mean I have a job when your daughter to get the big screen TV now while I still have no school of income it's a very American read response to potential future slowdown rather than doing something crazy like saving for a rainy day or you know a recession in Washington I'm Kimberly Adams for
Anger and misunderstanding fuel Turkey-US standoff
"Meantime Turkish president register type air John is showing no signs of backing down in the standoff with the US that has rattled markets as investors worry about. Turkey's sliding toward a full blown financial crisis the big question now is how far the pain may spread, possibly to. Europe and to other emerging markets Brad McMillan she'd been best Officer at. Commonwealth, financial network says selling on. Wall Street follows markets around the globe the big story right now is Turkey and the real concern there is are we entering into another emerging markets crisis we've seen. This movie before and the early stages of the woke lot like what's happening in Turkey right now to, certainly, people. Are getting
California's Holy Fire intensifies, forces thousands to flee homes
"Putting a flash flood watch in, effect for areas pretty much to the south and east. Of the capital district and that, watch goes into effect little after midnight tonight for Dutchess Ulster and Columbia. Counties in New York in Berkshire county and western Massachusetts classmates. Teachers family and friends will gather in Waterford tonight to remember fourteen year old