35 Burst results for "Bullard"
Monitor Show 15:00 09-21-2023 15:00
"The United States Border Patrol has exciting and rewarding career opportunities with the nation's largest law enforcement organization. Border Patrol agents enjoy great pay, outstanding federal benefits, and up to $20 ,000 in recruitment incentives. If you are looking for a way to serve something greater than yourself, consider the U .S. Border Patrol. Learn more online at cbp .gov slash careers slash USBP. That's cbp .gov slash careers slash USBP. Bloomberg Business Week with Carole Masur and Tim Stenebeck on Bloomberg Radio. Look out for that music. That was kind of fun. Joe and Kaylee having fun. Kaylee like bopping it. Yeah, that was cool. It's a great show. You've got to listen to that show. Party on, man. We're going to party on for the next three hours, in fact. Oh, if you're not like along this market, you can party. Hey, where there's a long there might be a short. Okay. Got to remember, right? Welcome, everybody. Bloomberg Business Week on this Thursday, September 21st, 2023. Live in our Bloomberg Interactive Brokers Studio on YouTube and, of course, on Bloomberg Originals. Twenty -four hours, Tim, since that last Fed decision. S &P at its lowest level since June in three months. We're going to talk a lot about the trade today. And yes, equities, but it's really because of what's going on in terms of the inflation picture and really the interest rate picture. Yeah, with that in mind, a lot of focus on the Fed and the rate picture today, including what former St. Louis Fed President Jim Bullard says the Fed may still need to do. Is that does that have something to do with today's moves, Carol? I don't know. I just I woke up to that news.
Monitor Show 14:00 09-20-2023 14:00
"With Bloomberg, you get the story behind the story, the story behind the global birth rate, behind your EV battery's environmental impact, behind sand, yeah, sand, you get context, and context changes everything. Go to Bloomberg .com to get context. Trend cruising speed. We'll get the forecast from the Federal Reserve in about 20 seconds time alongside that Fed decision. Going into it, the price action looks like this on the S &P 500, positive by 0 .2%. On the NASDAQ, almost totally unchanged. To the bond market, yields on a two -year, shaping up as follows, near, in and around 5 % on a two -year in America, 5 .05%. Mike McKee has the decision. This is the very definition of a unanimous hawkish pause. The Fed leaves rates today in the range of five and a quarter to five and a half percent while saying growth is solid and inflation elevated, so hire for longer. Policymakers leave another rate move on the table for this year and take two reductions off the table for the next two years. The statement once again discusses, quote, the extent of additional policy firming that may be appropriate. And the dot plot shows that 12 members of the Open Market Committee still believes they will raise rates by another 25 basis points this year. The high dot at six and a quarter percent comes out of the dot plot with St. Louis Fed's Jim Bullard's retirement. For 2024, the committee now sees a median effective Fed funds rate of 5 .1%, up 50 basis points from their June projection. And for 2025, 3 .9%, up from 3 .4 % in June. The long -run neutral rate is unchanged at two and a half percent, although the central tendency range moves up to 3 .3 % from 2 .8, and the dots show seven members think that the neutral is higher than two and a half.
"bullard" Discussed on Bloomberg Radio New York
"We're buyers of dip, especially in Asia. Especially in China. And Australia. Well, up to and including mester and bullard yesterday, of course, they're kind of on the opposite end of the spectrum from you in terms of voicing their concern about still needing to finish that inflation fight. Do you think at some point this data convinced them that they can kind of ease up on that and maybe even not address the 2% target, but use language that makes it less aggressive, I would say, in terms of trying to finish that inflation fight to the end. Going right, going more now is intuitive, right? Because if you're going more now, you're sending a stronger signal to manage those inflation expectations. So yeah, I understand why you'd go harder now because it may reduce the amplitude that you have to go over the course of the cycle. And again, we're talking about the difference between 25 and 50 basis points. I don't really think over the course of the forecast arise in. That's going to make that big a difference. Hence why we're buying these dips in a more secular way, right? So whether Loretta mester, who obviously they have the Cleveland fed's that has the inflation now cast over there, whether and so she's been very focused on that. Whether that starts to roll over and she changes her view, I don't know. I believe it will happen at some point in the coming quarters. But if you're looking for inflation indicators, that typically lead the cycle. You can find them in their consistently coming off. Okay. Point taken. I'd like to get your views on Asia you mentioned China there, a particularly with the reopening story, and it's not just the mainland economy that we're looking at. We're looking at places like South Korea, Taiwan, even Japan that are going to be and have been beneficiaries. Is there a lot more in the way of momentum here to carry markets higher, do you think? There should be. I mean, Doug, if you gave me the best indicator, best macro indicator for the states on market direction, I'd take real GDP. And China, I would take the liquidity indicators. There does tend to be a very strong correlation with Chinese equity markets and money supply and broader liquidity issues like their total social finance numbers. Whether that liquidity is actually leaking into the real economy as fast as the market expects, I can't say. But historically, when we see this robust pickup in liquidity and China does flow through into financial markets first. So that's something that I would be continuing to buy dips on. And that's certainly something that we're interested in doing in the market right now after a 10% correction. This month alone. I think the feedback loops to the rest of the region are also very positive because intra Asia, trade is very strong, right? So China reopening is positive in both goods and services trade for the rest of the region. So yes, we're reasonably positive on South Korea, Taiwan. And I mentioned Australia as well. I think they're really, I think Phil Lowe has threaded the needle. I think you're going to see a soft landing there. Robust household balance sheets, consumer demand is strong, tourism receipts are going to be picking up the trade ledger is going to be robust with China and valuations specifically to the resource sector in Australia. Are still sub double digits. So I mean, it's just great opportunities both from a growth and value perspective in that market. Are you feeling good about that tourism channel really taking off? Right. Across the region, yes. I think just looking at trip dot com and some of the other indicators for where Chinese tourists go, it's all intra regional. You're in Singapore, right? Yes. So I mean, I'm sure you're seeing it down on Orchard road. Well, Japan too, right? Yeah, especially Japan. Especially Japan, especially if they can iron out some of these diplomatic wrinkles. But in Australia, the tourism receipts are picking up on type beaches packed this summer. But you also have all the students coming back too, right? So I think you can expect that China reopening will be very positive for tourism receipts across the region. Brian good stuff. Thank you so much for making time to chat with us. Brian corta ro is Bloomberg Asia macro portfolio manager at mission crest capital management joining us from here in the Bloomberg interactive broker studio
"bullard" Discussed on Bloomberg Radio New York
"I'm Brian shook. And I'm Brian Curtis in Hong Kong. Let's check this hour to stop business stories and the markets. The bank of Korea has raised its benchmark interest rate by 25 basis points. The Central Bank lifted its 7 day repurchase rate to 3.5%. The BOK said that two board members oppose the rate decision. The bank of Korea seized continued tightening as warranted. The fed is on track to downshift to smaller rate hikes following a further cooling in U.S. inflation. That's the message in the swamp market swaps show less than 50 basis points of tightening priced in for the next two fed meetings. As to policymakers themselves, Philly fed president Patrick harker says 25 basis point hikes will be appropriate going forward. However, St. Louis fed president Jim bullard said that he favors getting rates above 5% quickly. We spoke earlier with Michael McKee, Bloomberg's international economics and policy correspondent. One of the things that people sort of missed about harker was that he said we still need to raise rates over 5%. So they're both kind of in the same boat. He and bullard. And I think most of the fed is in the same boat. In the market seems to be not that they won't get to 5%. There's a minor question about whether they do 25 or 50 on February 1st. But whether they are going to be cutting rates later in the year, the fed officials, and this was bullard's message, say the markets are over optimistic about how fast inflation is going to come down. And they won't be cutting rates. That's kind of the debate that we're going to have as we continue to get the data that suggests inflation is improving, but the fed doesn't see it improving enough and quickly enough. Michael, Bloomberg international economics policy correspondent. Well, China's annual trade surplus hit a record high in 2022 in yuan terms. Surging exports through the first half of the year offset a big drop off in demand at worsened. In the final quarter, the surplus widened to ¥5.87 trillion, that's $873 billion last year, exports fell about 0.6% in yuan terms in December, and that compared to a 0.7% increase in November and imports increased about one and a half percent from a year earlier. These numbers are based on Bloomberg calculations. The official numbers not yet out. And finally, from the FT, China is moving to take golden shares in local units of Alibaba and ten cent. Both stocks are trading flat to lower this morning in the markets, the hang seng index is essentially flat. Then you can down 1.2%. The CSI 300 in China, with a solid gain of 8 tenths of 1%. Dollar yen, one 29 O 5. Global news, 24 hours a day, live, and at Bloomberg quick take brought to you by 2700 journalists in a 120 countries. In Hong Kong, I'm Brian Curtis
"bullard" Discussed on Bloomberg Radio New York
"So the equity market is apparently trying to make a comeback here with the S&P 500 well off its worst level of the day and the NASDAQ composite now positive by a little more than a tenth of 1% earlier in the day market struggled with some hawkish commentary from a one noted fed hawk that being Jim bullard of the St. Louis fed. He said that interest rates now have just gotten restrictive and he said that they'll need to remain higher for some time to make sure that inflation is under control at the longer end of the US Treasury yield curve we have the ten year at 3.95% were up more than three basis points, but at the short end, the two year is actually down by a little more than three basis points to 4.30%. The dollar west well off its best level of the day, although the Bloomberg dollar spot index still positive with a gain of a tenth of 1%. The yen weaker and the Euro is weak as well as 95 95 U.S. cents of the 11 industry groups within the S&P 500 five negative are checked at 5 positive 6 negative on the positive side energy tracking the price of crude oil higher WTI right now, 78 78, Goldman Sachs saying today that the crude oil market right now is exceptionally tight, even though the global economy is weak and that may be enough to support higher oil prices at least in the longer term. We have the Brent contract right now at 86 40 with a gain of about 2.8%. Dow industrial average right now down two tenths of 1%, the S&P off just a tenth of 1% and the NASDAQ comp rising by three tenths of 1%. I'm Doug prisoner that's your Bloomberg business flush. All right, Doug
"bullard" Discussed on Bloomberg Radio New York
"A check now the latest market action on Wall Street and what to expect in the Asian trading day. Here's Bloomberg's Doug prisoner. Hey Brian, we had a number of corporate earnings reports today and a few topped forecast names like PayPal and Moderna and as long as we're speaking of Moderna, the stock is or the company is also buying back stock shares finished up 16% today. We also had a lot of economic news to sort through the numbers were better than expected. The U.S. services sector unexpectedly strengthened in the month of July. We were at a three month high if you can believe that. Plus, the readings of non factory orders CAPEX spending and orders for durable goods all beat expectations. Now typically, when you get strong economic news, you would expect to see a move up in long-term interest rates. Well, that wasn't the case today. The yield on the U.S. ten year treasury actually fell by four basis points to around two 70, although at the shorter end, the yield did push a little higher we were up about two basis points on the two year to around 3.06%. You may remember last week fed chair Jay Powell signaled a possible slowdown in the pace of future rate increases and that boosted odds for maybe some rate cutting next year that seemed to be what the market was expecting, but today the head of the Minneapolis fed Neil kashkari said rate cuts in 2023 while they seem very unlikely. We'll take a closer look at the fed momentarily. We had the S&P 500 today rising by 1.6% of the 11 industry groups in the S&P only one negative energy, that story is coming up as well. The energy group today down 2.5%, the Dow was higher by 1.3% NASDAQ compromising 2.6%. I'll take another look at market action for you in about 15 minutes, Brian. Yeah, given that tech component, it's setting up as a big rally in Asia today, so it should be kind of interesting to follow. All right, well, fed officials as heard, as mentioned, fed officials are vowing to fight inflation with additional tightening. St. Louis fed president Jim bullard told CNBC a neutral rate is still some distance away. And bullard favors front loading big, great hikes. We've still got some ways to go here to get to restrictive monetary policy. I've argued that now with the hotter inflation numbers in the spring, we should get to 3.75 to 4%. This year, bullard said that big rate hikes could help boost the fed's credibility. At the same time, fed president Thomas barkin of Richmond and Neil kashkari of Minneapolis both said that the fed is far from done, and they said a recession could be the outcome. However, San Francisco's Mary Daly was more sanguine. She said the fed can counter inflation without creating mass unemployment and an economic downturn. Well, one of the mainstream Brian of inflation, of course, it was me going on with energy prices and OPEC plus issued one of the smallest production increases in its history and they put it down to weaker demand the Carter allowing just a 100,000 barrels a day to the market September for July and August, the group had pledged an additional 600,000 barrels a day. These slow rate comes despite pressure from The White House, Amos hochstein. Its White House is a senior adviser for global energy security, gave a positive outlook despite disappointing increase. The president wanted to see oil prices down, wanted to see gasoline prices at the pump down. That's what we're seeing. And I think what's very remarkable here is that we're seeing that happen while one of the largest oil producers in the world
"bullard" Discussed on Bloomberg Radio New York
"Hi everybody Good morning if you're tuning in in the Asia Pacific good day if you're listening elsewhere and we welcome listeners coming in after being with the PGA Championship won by Justin Thomas with a playoff victory and it was not a first time winner but that's the way it looked with about 15 minutes to go Very good morning to you I'm Brian Curtis in Los Angeles And I'm Kathleen Hayes here at Bloomberg world headquarters in New York City We're going to take a look at how things are shaping up with the Asian trading day Bloomberg's drug prisoners back It does I love this headline from markets live S&P 500 NASDAQ futures set green glow on Monday There is a little bit of a green glow in Japan anyway Well there's green glow too for the E mini futures contract for the S&P 500 It's up about 9 tenths of 1% Remember on Friday here we finished well off the worst level of the day In fact the S&P bounced off of that down 20% level pretty much We cracked a little bit below that But a lot of folks were saying we were able to Dodge the bullet when it comes to being in a bear market So if you look at what's happening across the pack grim right now in Tokyo we've got the nikkei pushing higher by about 9 tenths of 1% a little bit of weakness in the yen not by much one 27 82 in the end is beginning to strengthen ever so slightly here in the Tokyo session material along with healthcare stocks leading the rise in Japan We had the Australian elections over the weekend labor taking power We've got a stronger Aussie dollar right now trading at about 70 60 U.S. cents And the Australian equity market trying to inch higher here It's a staggered open in Sydney and the ASX 200 right now better by about two tenths of 1% In Seoul the Cosby rising by about four tenths of 1% U.S. yields now moving up the entire curve shifted down or lower I should say in the New York session Friday right now a ten year or two 79 up a little more than a full basis point And the two year rising by more than two basis points now at two 60 we had the head of the St. Louis fed Jim bullard saying Friday He'd like to get fed funds to around three and a half percent by the end of the year We'll take another look at market action for you in 15 minutes Brian All right Doug thanks very much Well China says the U.S. strategy for the indo Pacific is doomed to fail Chinese foreign minister Wang Yi said that the approach would create divisions would insight confrontation and would destroy peace Wang's comments came while President Biden is meeting allies in Asia to increase engagement and counter China's rise Biden also plans to unveil the indo Pacific economic framework during the trip Now the effort is aimed at countering China's clout in the region and the packaging includes clean energy supply chain resilience infrastructure and taxation The U.S. hasn't listed the initial participants although it did say that more nations are expected to sign on in the months ahead And we just heard from the nikkei Asian review that Singapore will participate in the IPE F the vapor cited prime minister long in an exclusive interview Apple is trying to reduce its dependence on China It's a pretty big step We get more now from Bloomberg susannah Palmer Apple has told some of its contract manufacturers that it wants to boost production outside China That according to The Wall Street Journal which says apple is citing Beijing's strict anti COVID policy among other reasons the report says India and Vietnam already cites for a small portion of apple's global production are among the countries getting a closer look from Apple as alternatives to China Analysts say more than 90% of Apple products are made in China by outside contractors Susanna Palmer Bloomberg daybreak Asia All right four and a half minutes past the hour coming up Our guest Alethia Garcia herrero is chief Asia Pacific economist over at natixis and we'll join us live It's now time for global news.
"bullard" Discussed on Bloomberg Radio New York
"The median path So if you do the math you know I think what we're going to probably need to move some of those meetings Master joined St. Louis fed president Jim bullard in calling for Quaker tightening Bullard tells Bloomberg faster is better when it comes to rate hikes What you have to do is move the policy rate up discreetly a fair amount not to be too disruptive but I think 50 basis point moves are definitely be in the mix And then get to a level that we can be neutral And then from there we can decide if we want to be restrictive in put further downward pressure on inflation And Jim bullard's reiterating his call for interest rates to go above 3% this year Stay tuned for more from the fed today We'll speak live with San Francisco president Mary Daly That's coming up at 1130 a.m. Wall Street time on Bloomberg radio and television Nathan the prospect of higher rates taking a toll on the bond market the Bloomberg global aggregate index The benchmark for government and corporate death total returns has fallen 11% from its high in January last year That's the biggest decline from a peak in data stretching back to 1990 It equates to a drop in the index market value of about $2.6 trillion When it comes to stocks John now is not the time to buy That's according to Muhammad el Arian the Bloomberg opinion columnist and chief economic adviser at Allianz says investors need to pair their holdings If I'm investing over the next 12 months horizon I would reduce equities at this point I would take some money off the table I think the market is giving you a wonderful opportunity to come out Muhammad Al Arian says equity markets have yet to factor in what's to come for the economy And speaking of the economy we have fresh data on wages this morning a new study shows a lot of Americans are still seeing pay below $15 an hour Bloomberg's Anita young joins us live with details Good morning Rene Good morning John a report from oxfam America finds one in three U.S. workers is still making less than $15 an hour And the share of women and people of color earning that amount is even greater The report helps quantify how Americans could be impacted by the raise the wage act which would set a $15 federal minimum wage The legislation is still pending in Congress While 25% of men earn less than $15 an hour the figure is 40% for women and 50% for women who are working of color Live in New York I'm raining a young Bloomberg day break All right we need to thanks very much and ahead of the cash over on Wall Street futures this morning They're lower than our futures down 42 points That's the decline of about a tenth of a percent S&P E mini futures 6 points lower and the NASDAQ futures right now They are down 20 points You're listening to Bloomberg daybreak.
"bullard" Discussed on Bloomberg Radio New York
"The market will still come into the market The U.S. has said that Russia could take offensive military action this week against Ukraine or it could attempt to spark a conflict inside the country President Vladimir Putin has repeatedly said that Russia has no plans to do so Well more Fett officials are offering support for monetary tightening even so there are differences over the scope and speed Richmond fed bank president Tom barkin said the fed should steadily move back towards normalizing policy and Kansas City fed president Esther George advocated for a systematic approach that's careful not to oversteer At the same time St. Louis fed president Jim bullard repeated his view that the fed should raise interest rates by 100 basis points by July 1st He told CNBC this will help give the fed more credibility in its inflation fight I do think we need to front load more of our planned removal of accommodation than we would have previously We've been surprised for the upside on inflation This is a lot of inflation in the U.S. economy 7.5% on the headline CPI These are numbers that Alan Greenspan never saw they haven't occurred in 40 years so our credibility is on the line here But also said the fed can remove accommodation without being disruptive to markets He said the American economy will continue to have a strong year and the unemployment rate could drop to below 3% All right the time is 5 minutes past the hour it's time for global news Here's head Baxter All right thank you very much Brian the Hong Kong's COVID caseload is in danger of overrunning hospital capacity Bloomberg Stephen engel in Hong Kong says.
"bullard" Discussed on Bloomberg Radio New York
"And expert data driven commentary on breaking news It is 9 20 in the city time to check in with Bloomberg opinion were joined by penny Connors Marcus ashworth Who was with us to talk about that red hot inflation print out of the U.S. and whether it's setting the stage then for rate hikes From the fed as early as March That's what's been signaled by St. Louis fed president James bullard at least Marcus What is your view Do we get march kick-off I think we do now It's only 18 9% whatever that means but the point is it's basically priced in There's always going to be a little bit of wire just in case something might change Could be on the con could be a variety of other things asteroids for outer space We don't know which might change the economic outlook But the moment everything is strong like bull on the economy and inflation Now you could see things improving over time one with energy prices dropping which did actually fall That was the one sort of surprising in the report that energy price is actually dip But there's plenty of strength in shelter which is the most important thing for that wage price spiral that center backs worry about as you get rents rising and staying high people then need to demand for higher pay rises et cetera and that feeds on itself But that wasn't super strong but it would clearly was raised So a bunch of stuff is starting to seep out It's mostly still good prices which are people who have got them on not services but that's when the switchback people will start to get a bit more worried about sticking inflation So 7% headline it wasn't as high as some people had feared There was enough in the report to take both sides of it But the key thing is that the fed has done all the hard yards here on pricing in and getting able to expect without actually doing anything yet I know there's still adding but still the market is believing that they're on top of it And that's what it's all about While Marcus just let me indulge me allow me to ask myself question how does raising interest rates address inflation if it's a supply side issue It's all about those expectations is about your belief that you're going to need to be paid more because things are going to carry on rising And the fact that secondhand car prices have gone up again again again at some point that's going to mean we're down likewise with energy prices There's nothing much perhaps the same as we can do about that But what it can do is give confidence throughout the bond markets that they will be doing something about it and therefore that they are very tough going down the line Now at the moment it's interesting that really the market is any really pricing as we say up to about 2% interest rates and the U.S. now we know a negative except inflation 7% is still massively negative real rates That in theory should have no impact on inflation And possibly it won't but the point is this will pass through and the rest of it's more that our tightening conditions and we'll see how the well the economy can actually take free money being taken away from that And things haven't stopped be priced with actually some form of cost per And you think everything that you're looking at at the moment and the beige book came out suggested the business confidence is still relatively strong but it's kind of ebbing off a little bit towards the end of the year last year But your confident are you at this stage that the U.S. economy can stomach for hikes And maybe as well a roll off of the balance sheet I'm not confident but I can see why everyone else is if that makes any sense I think the fed will probably hike two possibly three times this year But it's going to have to be very careful if as it says as you say in quantitative tightening as inducing balance sheet are you liquidity in the system at the same time as raising the cost of money Those two things together could be more powerful than the economy can take We just don't know yet And I believe how probably is more aware of this than the market is giving credit for and will easily ease off if the market wants to very clearly signal by the yield curve flattening to a level where it may even invert I think that will stop the fed and its tracks Or secondly of course if there's any obvious signs of economy wilting I think the fed will be less hawkish than they have talked a great game in the market is completely swallowed it Good to them Marcus ashworth always excellent Thank you very much Indeed possibly two possibly three hikes This year is the call from opinion columnist Marcus ashworth Watch that yield curve and the.
"bullard" Discussed on Bloomberg Radio New York
"More hawkish like James bullard from St. Louis It behooves the committee to attack in a more hawkish direction but we could move faster We kept optionality on this that we could speed up the taper if it's appropriate Here to put it all in the investor's perspective our John Graham CEO of CPP investments managing over half a $1 trillion for assets for that candidate's largest pension fund and Catherine Keating She's CEO of BNY Mellon wealth management Welcome to both you So I can start with you inflation I think was the big story of this week How did it affect investors views of the marketplace So I think the new inflation news this week in a recent days has been that we see some signs that we may be seeing some peaking We see it in inventories starting to build in certain sectors of the economy We see it in some of the port log jams starting to ease a little bit and we see it in emerging markets starting to tighten which is a deflationary force that will affect the global economy But I think for markets and for investors the question really is where do we see inflation a year from now Markets always look ahead And a lot can happen in a year Think about last November Think about last Thanksgiving how different it was than what we're expecting this year with vaccinations and travel And so a year from now what do we think We would use the word not transitory but transitioning Transitioning from the higher inflation that we have right now 5 and 6% But also transitioning from the very low inflation we had in the decade after the global financial crisis which was less than 2% to something more in between three or four And what we need to remember is that markets have behaved very well with inflation in that range for most of our careers as investors Yeah no question They have performed well So John do you agree with that analysis we were transitioning not to 6% but to three or 4% And if so what does it mean for your investors in particular You need to worry about all those pensioners out there waiting to have their checks when they need them I think we would have actually very similar view and I think probably every day this week we talked about inflation and the word that kept coming up was transitory And my question is what this transitory mean is not that helpful a word without a time horizon put on it And I like the word transition 6 months ago we probably thought it was shorter It would be a shorter horizon than it's turned out to be We didn't anticipate all these COVID related shocks to the.
"bullard" Discussed on Bloomberg Radio New York
"St. Louis fed president James bullard says that the Central Bank should speed up its tapering plants urging more hawkish policy to offset inflation He spoke with Bloomberg's Michael McKee earlier The inflation rate is quite high The core PC inflation rate that committee's favorite measures about 3.6% That's the highest it's been in 30 years Well above our 2% target and that number already throws out food and energy So you're taming the data a little bit What do you look at that kind of measure But it's quite high It does not have the reputation of moving down very easily So I think it behooves the committee to tack in a more hawkish direction in the next couple of meetings so that we're managing the risk of inflation appropriately If a patient just happens to go away we're in great shape for that We're set up for that But if inflation doesn't go away as quickly as many aren't currently anticipating then it's going to be up to the committee to keep inflation under control going forward Well when you say tack in a more hawkish direction are you talking about speeding up the taper even with the risk of a taper tantrum Are you talking about changing forward guidance How would you tack I think we've gotten past the taper tantrum issue because we went ahead and went ahead with the taper here But we could move faster We kept optionality on this that we could speed up the taper If it's appropriate we have a hot CPI report here As you know I've advocated a faster pace a 2010 pace That's 20 per month less treasury purchases and ten less on mortgage backed security purchases The reason I propose that is that we would be done tapering at the end of the first quarter next year And that would give us a little bit earlier moment that we could assess where the data is and decide what to do on rate policy So I think that's something to consider I mean some might say well that's you know that's faster than they'd like I don't know But we did retain the optionality on this Let's talk the traders all want to know Jim and that's the very short term If you're thinking we should attack in a more hawkish direction would that speed up the rate of rate increases There's right now in the markets two rate increases for 2022 and almost a third Do you think that's realistic You know I'm a green with the markets right now because I've got two hikes penciled in for 2022 That's dependent on the data could evolve going forward depending on how the data come in So I think there are other ways we could tack in a hawkish direction I think we could play up the idea that maybe we don't have to wait all the way to the end of the tapir in order to raise the policy rate I mean historically when we've done this before we have not wanted to be raising the policy rate while we're still tapering But you could argue that the tapers all priced in and what's going to happen over the next 8 months is just follow through on something that's already priced in And so that would sort of relieve any constraint that the committee might feel about when the appropriate time was to commence with liftoff Another consideration I think I put on the table and have put on the table is that we could allow runoff of the balance sheet at the end of the taper instead of waiting on the decision for a while So I think that that would be a way to have a somewhat more hawkish policy than otherwise We can debate how big an impact that would have but you could allow the balance sheet to be running down Sooner than is currently priced into the market St. Louis fair president James bullard speaking to our very own Michael McKee you caught me mid action on the Bloomberg terminal We're global communicators.
"bullard" Discussed on Think 100%: The Coolest Show
"Black man has no rights that any white man is bound to respect that was supreme court codified courts at the course of the courts all the way up to draft. Scott placidly ferguson codified. Jim crow stream court decision. Nineteen fifty four. That said separate on equal constitutional nineteen sixty four civil rights. Act said everybody's supposed to be equal. We're still trying to get to that and justice for all equality and rights in laws being applied equally across the board in seventeen ninety The same year. The first census of the united states Jack boss founded moss veal before the this whole idea that the country was really a country and and the fact that in terms of all the states and all everything being coast to coast these black folks in ville survived slavery jim crow segregation Severed unequal aids of all of that. But right now. Montville is being threatened by chemical plants surrounding it and Air company that.
"bullard" Discussed on Biz Talk Radio
"Of the Fed presidents I spoke about one early this morning. Shannon was just telling me about Bullard. Uh, James Bullard from the ST Louis Fed. Saying that, you know. So here we are. We're looking at Um You know, a short fall a dramatic shortfall. Obviously, we've got we've got spending at 6.9 Trillion, and we've got income revenue of 3.8. Um, that means we've got to print trillions of dollars worth of bonds of dead in order to have the money to pay our bills and it this goes back to what I have been saying. So if I'm wrong about this, which is sounded like I am because some of them are saying Uh, there's two are saying that we could see tapering this year start to taper. I said a month ago, and I'm going to stick to it. And so they do something different, But so they just taper but My my opinion is that they're going to cut. They're going to raise rates. Even if it's um 12.5 basis points. We're going to raise rates something and try to avoid tapering As long as they possibly can to try to put it off. Um And I say that because Janet Yellen Could care. I mean, right, she's she's saying, Okay, we raise rates slightly. That won't dramatically hurt us. You know if we raise rates by 12.5 basis points We're probably going to be adding about, uh, $100 billion. Maybe not that much. Maybe 75 billion to our service of our day. If we taper Um, we really got a problem because now we got to find somebody to buy 30 trillion $30 billion of our debt. And that's not going to be so easy because nobody is buying our debt, and I'm saying nobody. I'm talking about governments. China is not buying Japan's not buying. The Netherlands isn't buying nobody's buying. So we get China. Japan are, um, number number two or number three debt holder, the Federal Reserve being number one. So, um We? She has to be pressuring. Your own power. And I say that with a great deal of certainty, because I can't be wrong. She's raped. I would hope that at least if they're not smart enough to do something about the debt, they're smart enough to panic. About The cash flow. And if that is the case she's got to be. And I got to believe it is the case. They've got to be pressuring, Uh, pal, that you can't stop. You're it. You're our largest buyer day. You so you can't stop. That's my thought. But if they raise rates, I would be very happy. But I would like to see both go on like to see, you know, cut 30 billion of debt a month. That we're buying and raise rates by I'm not even asking for a quarter ammonia, asking for an eighth of a 1%. Uh, rates and nobody's going to care about that The markets are going to care. There will be a knee jerk reaction in the markets, so they realize it's only an eighth of 1%. And it doesn't necessarily mean that it is a trajectory that's going to continue for any length of time. Although I kind of think would be because inflation as 5.2% Is really at I don't know 10, 10 and 10.7, at least by now, Um, they got to start raising rates. Even Bullard was talking about inflation running hotter than what? They wanted it to go. Did he say that? Yeah. Again. Yeah. And you know it is And do you heard the I didn't? I was on the era when we didn't hear it. But did he say anything? Alluding to that It wasn't temporary inflation, or did he? Did He dismiss that at all? Or just didn't bring it up? He didn't use the word transitory or say it was temporary. He did say that he expects it to linger into next year. So all right, so That's his way of not saying that's not temporary, like, Yeah, you know, um And I'm hearing company after company I read, uh from company financials. Last night. That It's a It's, uh, CS 30 who I added to my buy list this morning, but I read their financials last night or, uh, I already reviewed their financials. This was something else that I get. Um, I'm able to get And indicating that they are somewhat concerned about not only wage inflation, which is, uh, you know, a big big issue. But they're saying product inflation. So if any of you know the company I'm talking about CS 30, you know that they deal in a number of different commodities. And food, kinds of things. Um, that would not be considered commodities, but, um, are food products, uh, to make their food products and they're saying that the cost the law can't raw materials for lack of better, um, but the raw materials that they're dealing with every day. Are going up to a mathematically so they say that there Inflation, both wages and and raw materials. Is here to stay, and they are, in fact passing on all of it along to the consumer so that that connects the dots perfectly to know when we start to talk about While if inflation is going up, What do we do about that Well traditionally to hedge to inflation has been equities. And that's the perfect way. The explanation you gave just totally connects the dots between how we combat inflation. Hands. I put them on the vilest. So, um, because number one, they're staple. Good, solid, stable and you're going to see Um more hedging. I believe in things like consumer staples. Commodities..
How to Stop Air Conditioners From Warming the Planet
"Pacific northwest here in the us blasted through their all time. Heat records this week records that now exceed those of las vegas and houston power cables for the streetcars in portland literally melted on sunday. The cause for all that heat in the region was because of a heat. Dome something that. Cbs news meteorologist. Jeff burr deli called a one thousand year event or at least it was last century. Now it's just another thing that's likely to be repeated more often the heat's already kills at least six hundred people but probably close to fifteen hundred every year in america according to the atlantic and most of them don't have air conditioning the need for some type of cooling system in homes especially in locations where they weren't previously needed is becoming abundantly clear. Scientific american says that by twenty fifty researchers expect the number of air conditioners around the world to quadruple to four and a half billion and be as ubiquitous as cell phones but air conditioners as they presently exist are not the answer yes. The climate crisis is making us need them. More but air conditioners are also making the climate crisis worse. The technology is long overdue for an upgrade quoting scientific american the basic cooling technology behind air conditioning. Refrigerators hasn't changed significantly since nineteen o two. When a young american engineer named willis carrier devised the first air conditioner to solve the humidity problem for printing company in new york city. it's known as the vapor compression cycle explains kark bullard mechanical engineer and professor emeritus at the university of illinois in its most stripped down form it consists of two metal coils one located inside the space to be cooled and one outside a liquid. Refrigerant circulates through the coils alternately. Evaporating and condensing under varying pressure. As the refrigerant vaporizes. It gets cold and chills the metal coil inside the room when it reaches the outdoor coil the refrigerant condenses ejecting heat into the air before beginning the next cycle.
"bullard" Discussed on The Peter Schiff Show Podcast
"Nine hundred subscribers. So it's very small channel seven hundred and nine hundred thousand. People have watched this video. That's it in two weeks. That's all the views it's got is twenty thumbs up and four thumbs down and only eight comments. That's it yet. This video shows up. If you're searching for videos on juneteenth youtube suggests that you watch this one right now. It's not number one. Maybe it's number twenty five on the list. I wasn't counting but the fact is this video comes up and mine doesn't why. What is it about it youtube algorithm. That would say a video that barely. Anybody has watched that barely. Anybody has commented on that. This one is more significant in more relevant than my video which is getting a lot of traction a lot of us. A lot of lives a lot of comments. How can this be. I think that what must have happened. Is that somebody actually watched my video and after watching my video. They didn't like it. Why didn't they like it. Because i was opposed to the juneteenth holiday and so they didn't want people looking for videos about juneteenth to find mine. I mean why hardly anybody as opposed to it. This is such a minority position right. The vast majority of people maybe ninety nine percent of the youtube videos out there on june kings are probably positive. And so maybe there's one percent that are negative yet. Youtube doesn't even want anybody seeing that tiny percent of videos. That are not in favor of this. Why is that. I think because there are a lot of people who don't think it should be a national holiday don't think federal workers should get another day off but youtube doesn't want people who think that way to realize that other people think that way youtube wants those people who think that they're crazy that they're like they're nuts for thinking this. There's nobody else that things like that. And therefore they must be racist if they have this opinion so even though there's hardly any opposition to this they wanna bury it so that it looks like there's no opposition and that it's unanimous..
"bullard" Discussed on The Peter Schiff Show Podcast
"I wanted to discuss today. I read this story. About how california governor gavin newsom is thinking about and probably will extend the california moratorium on evictions so that tenants can continue to not.
"bullard" Discussed on The Peter Schiff Show Podcast
"Well what a difference a day makes or in this case a weekend because everything they were selling on friday. They were buying back on monday on friday. The market suffered the bullard bust. Right because jim bullard came on. Cnbc and indicated that the fed was actually talking about talking about tapering or raising interest rates. And they might actually start the talking in a few more meetings and a few more meetings after that they might actually begin to let the markets know that at some point in the future. they might actually nudge. Interest rates up slightly and so the market started to believe that interest rates may actually rise from zero to maybe twenty five or fifty basis points. A little bit sooner than they expected. Maybe by the end of twenty twenty two we might actually get our first quarter point rate hike as opposed to sometime in twenty twenty three or twenty twenty four and the mere suggestion of that possibility sent the markets down and so everybody was selling. The cyclicals goals the economically sensitive stocks value dividend oriented stocks dumping commodities dumping gold buying us treasuries long-term us treasuries. Well today they did the opposite. They were selling treasuries. They were buying the commodities. They were buying the cyclical stocks and the value oriented stocks. They were buying back some gold. What changed between monday and friday. Well nothing changed. Maybe what happened is people had the weekend to think about how ridiculous it was to sell based on what bullard said because he really didn't say anything. The fed did not change policy. Bullard didn't say hey we're raising rates. He didn't even say we're talking about raising rates. He said we're talking about talking about it. And the same thing has to do with tapering. and i guess people started to realize that it doesn't even matter what anybody at the federal reserve says about. What the policy is going to be two or three years into the future because they have no idea what's going to happen in the present let alone several years into the future in fact if you go back and look at what the fed was forecasting rates would be in twenty twenty one back in two thousand nine hundred nineteen or twenty eighteen. They were even close to being right. You think anyone in the fed back in twenty nine nineteen had a forecast at the rates would be zero in two thousand and twenty one or not. They were supposed to be. I don't know three percent four percent. There were all sorts of expectations that the fed had two or three years from out. None of them panned out now. Of course you can say well. Nobody expected cove nineteen which is true. Nobody expected covert nineteen. But nobody expects a lot of things that happen. What we know is a lot of things that are going to happen that you don't expect that's why you gotta expect the unexpected. It makes me think of the old monty. Python skit nobody expects the spanish equalization. But you know what every once in a while it happens and so nobody can expect what's going to happen in two or three years..
Dow Has Worst Week Since October, Prospective Interest-Rate Hikes
"Stocks Take a big hit today, the Dow dropping more than 500 points trading volatile this last few days, investors spooked by the Federal Reserve forecast. A pair of interest rate hikes in 2023 2 that today, the feds James Bullard in ST Louis actually suggested the first rate hike could come as soon as
"bullard" Discussed on Bloomberg Radio New York
"Our 11th, but for corporate America do we need to do more than just commemorate a date? In the past? We're gonna talk with Carly Fiorina, former HP CEO, founder and chairman of Carly Fiorina Enterprises in electing potential, But first we get a market check from Charlie Allies. Thank you very much, and here's what's going on Just getting word that Pepsico has filed a trademark application. That indicates the company plans to sell alcoholic beverages under the rock star brand name Pepsico shares. They're down now, along with the rest of the market. Pepsico Laura by 1.4%. Down day across the board right here right now, the S and P is down. 39 down 9/10 of 1% Give you the numbers and the Y in just a moment. The Dow Down 425 Now down 1.3% NASDAQ Down 92 would drop their of 7/10 of 1% 10 years 15 30 seconds 10 Year Yield 1.45% Hold up seven to up down. I should say down 2/10 of 1% 17 a 69 for an ounce of gold. It is West Texas intermediate crude that is up now by 7 10 to 1%. 46 cents of our 71 50 right now on governing to the bottom line here. We've got stocks lower for 1/4 Day, extending about of volatility ignited by surprise hawkishness that the Federal Reserve Commodities such as copper slumped while the dollar touched a two month high. Federal officials may be getting an itchy trigger finger. And with that story, here's Bloomberg spinning Del Giudice, the U. S economy is bouncing back and inflation is bouncing. Higher interest rates could follow as soon as late next year. That's the assessment of ST Louis Fed President James Bullard, speaking on CNBC. The question, Bullard says, is will inflation persist? A consumer prices registered the largest year over year increase since 2000 and eight Vinny Del Giudice Bloomberg radio Dow Jones Industrial Average is on pace for its worst week since January. Right now for the week. We do have the down down 3.1% keep it locked into Bloomberg radio. For the very latest, right through the closing bell to see how things shake out again. Recapping Equity saw 10 Year yield 1.45% s and P Down 38 down 9/10. I'm Charlie Palette. David Weston is a Bloomberg business plan. Thank you so much. Charlie. President Button yesterday signed into law the 11th federal holiday, which is Juneteenth on June 19th. It commemorates the day went back in 18 65. Federal troops entered Galveston, Texas, and announced to the last thing in the union That didn't know that..
"bullard" Discussed on Bloomberg Radio New York
"S and P 500 sector in the red right now being led by the reflation sensitive financials. As well as the energy stocks. Almost every stock in the Dow Jones industrial average down right now led by Intel and Goldman, Sachs, only Salesforce Khamis inching up right now. And Jones industrial average on pace for its worst week since January. Tech heavy NASDAQ 100 set a record yesterday, dropping from that record high Today, the Federal Reserve officials may be getting an itchy trigger finger. Let's find out more in this report from Bluebirds Vinny Del Giudice, the U. S economy is bouncing back and inflation is bouncing higher interest rates could follow as soon as late next year. That's the assessment of ST Louis Fed President James Bullard. Speaking on CNBC the question, Bullard says his will inflation persist. Consumer prices registered the largest year over year increase since 2000 and eight Me. Tell Jude Iceberg Radio volatility The name of the game today That could be possible when we get the options and futures on the indexes and equities expiring triple witching we call it s and P 500 right now. 41 points lower. It is down. 1% 4180, the NASDAQ 166 points lower. That's down half a percent at 14,099, the Dow Jones industrial average 480 points lower That's down. 1.4% were 33,339 2 year yield at a quarter of a percent. The 10 year at 1 46. And then you have the 30 year above 2% 2.3%. Right now we check the markets for you every 15 minutes during the trading day, right here on Bloomberg Radio. John Tucker. That is your Bloomberg business. Flash Matt John..
S.2 Ep.16: When life sent her down unexpected paths, Liz Bullard trusted God - burst 2
"Everything in life tells us that you are the author of your own path. You determine your own happiness. Everything of life says it's all about you and with christ it's the opposite. It's like it's all about him and his direction. Hi everyone and welcome to positively joy. A podcast on searching for the light all around us in all seasons of life. We look for god in the every day and she's joy even in the hard times. I'm your house that
Where do words comes from? Find out in Washington, DC’s newly opened Planet Word museum
"The. Much anticipated planet word. Open today in. DC. Yes. Yes. Back in twenty seventeen DC mayor Muriel Bowser, and a team of advisers picks philanthropist and Friedman to restore the historic Franklin school building a gorgeous building. By the way, millions of dollars have gone into restoring the national historic landmark much of it. Friedman's own money to create a place where people can explore are evolving language. Now, that restoration didn't happen without a couple of shall we call them hiccups along the way city officials halted construction for quite some time after discovering. That the project's developer violated DC's strict historic preservation rules but all of that is wrapped up now in the museum is officially open to the public WMU senior editor gay. Bullard got an early look at the museum and he's here to take us on a little tour as you turn off K.. Street and walk into the courtyard of planet word you're showered in language. There's an art exhibit in which Willow Tree made of speakers plays a mix of languages from around the world. Inside the historic Franklin school building has been given a thirty five, million dollar restoration the preserved stare tiling wainscoting and a few other flourishes Nantou the building century and a half of life. But the displays are exceedingly high tech I up a twenty foot high wall of carved words brought to life through powerful projectors and narration. The tells the history of the English language. The exhibit invites you to say a word from the wall like smog or sport to get a quick etymology lessons on. Board. Shorts. Burns over. In the next room, a giant globe of lights is surrounded by screens each with a friendly face of person who will teach you about their spoken or signed language. I tapped on Venezuela and got to try a regional tongue twister. And? Eric Kahn. Areas Cigar. A Nice in the gallery on humor, you can play word games or help and artificial intelligence right captions for new. Yorker. Cartoons according to my analysis. This caption about cannibalism mine database says that cannibalism is usually very serious, but sometimes, it can be funny to take something serious and pretend it is not serious. This is called dark humor in the library. Visitors can grab a book from the Shelf, set it on a table and be treated to an animation and narration explaining something about the text the technology can be dazzling but museum founder and Friedman says, it's in service of a larger purpose to reinvigorate excitement for literacy maybe with technology and with sort of the wow factor, we could make books and words and language sort of. Them and. With their imaginations captured visitors will think more about language for now the museum is working on virtual events for those who can't make an in person for those who can plan at word is open four free but you'll need to preregister for a time to get in admission is limited to twenty five people per hour.
National Archives `wrong' to blur images of anti-Trump signs
"The exhibit about the nineteenth amendment which gave women the right to vote Bullard some anti drug messages on protest signs in a photo from the twenty seventeen women's March in Washington the National Archives says the current display has been removed and will be replaced as soon as possible with one that uses the original on altered image and they'll immediately begin a thorough review of policies and procedures for exhibits so this doesn't happen again the archive statement came a day after The Washington Post published it online report about the altered images I'm Julie Walker
Trump's Trade War Inflicts Pain On Manufacturing States
"Right now Diane swore joins us grant for here in the American economy Diane I'm gonna go to your charm which is the middle west of this nation and right now that is in the heartland of a trade war give us the local update from Chicago what we would hear from Charles Evans what we would hear from James Bullard of Saint Louis and all their good economists what is the tone of a trade war so we'll media in our nation's middle west well we are seen the trade war is to is taking a toll on manufacturing activity there's no question about it and Jack General Motors strike added insult to injury to that trade war to manufacturers particularly in Michigan and Indiana so that really was sort of a very hard situation that said Kelly avances already come out and said listen we've made a half percent cut and I'm optimistic that you know that's enough for now and I want to wait and see said okay interesting this services ambiguity because they have put some stenosis system and what we're gonna see later today is some of that stimulus paying off in terms of strong home sales we have we think we've got enough home sales the curious out through the end of the year next year's another issue but this is the first positive quarter for the housing market in seven quarters just a quick program note I'm pleased to sail speak at length with Mister Evans of Chicago in the early November at the council on foreign relations really looking forward to a lengthy conversation on this moment Diane swanky say we've got existing home sales out there do we have fiscal space in America I'm looking to trillion dollar deficits this is in swanky economic say we have fiscal space well this is one of those hard issues we have fiscal space to make one term investments when interest rates are so low that pay off in terms of infrastructure investment we have less system maneuverability should we had a recession and what we really need is the automatic stabilizers to kick in much sooner and not wait for things to get so bad that we noticed them that Congress then has to enact things to extend things like unemployment insurance and out and in fact we have fewer automatic stabilizers says things that kick in when we do have a recession than we did during the last recession and I think that's really important to acknowledge one of the things people are talking about is using something we call the psalm role which one see an employment rate goes up by a certain percent we know we actually are in a recession and instead of waiting for it to be declared there actually be an automatic sort of movement to be able to get longer term unemployment insurance in this
Stocks slide after bond market warns again of recession
"Stocks remain stuck in the spin cycle Thursday as worries about a possible recession collided with hopes that the strongest part of the U. S. economy shoppers spending in stores and online can keep going the major stock indexes spend most of the day wavering between gains and losses the broader market turned higher late in the day with the S. and P. five hundred Dow Jones industrials closing up for the day Walmart was a standout gaining six percent after reporting earnings and sales above estimates July retail sales also beat estimates so there were some positive signs amid gloom over the trade conflict with China and growing talk of a possible recession federal reserve bank of St Louis president James Bullard doesn't see a need for central bankers to hold an emergency session to review policy despite fluctuations in financial
Fed Chair Powell Weighs Whether Cut Will Be Needed as Risks Loom
"Fed jerome powell reiterated that the case for lower rates is growing but he wouldn't commit to when or by how much speaking to the council of foreign relations the fed chair and cited downside risks caused in part by trade concerns that may require a quote more accommodative policy cross-currents reemerged with apparent progress on trade turning to greater uncertainty and with incoming data raising renewed concerns about the strength of the global economy that was fed chair jay powell meanwhile louis chief james bullard thinks the move should be next month but he pushed back against a fifty basis point cut speaking to bloomberg t._v. and radio bullard said he favors a quarter point reduction as insurance given below target inflation and slowing growth today fifty basis points would be overdone i would i don't think the situation really calls for that but i would be willing to twenty-five sitting here today i hate to judge meetings things can change by the time you get that was louis fed president
Saint Louis, President And Kathleen Hayes discussed on Bloomberg Best
"Federal reserve bank of saint louis president james bullard says an insurance cut of twenty five basis points to interest rates would be enough to protect against a sharper than expected slowdown in economic growth bullard spoke exclusively to bloomberg's kathleen hayes and explained why he dissented from the fed's decision to keep interest rates level at the last meeting of the policy-setting federal open market committee for the first time was twenty thirteen descended on fed policy decision it was the first ascent in the era of fed chair jay powell i think a lot of people are wondering why now speech on june thirty said a rate cut might be warranted inflation expectations continue to fall if you know if it looked like the weakness could be even bigger from the trade center than thought but why did you say what you really have to draw a line in the sand and say we can't wait gotta cut twenty five basis points today well inflation's running below target which is surprising given that the economy has surprised the upside over the last two years really growth has been higher than most people had expected labor markets have been very strong unemployment at a fifty year low and still we're looking at inflation running below target by preferred measure inflation expectations deteriorating growth still okay looking backward but looking forward looks like a slowdown with some downside risk you've got an inverted yield curve seemed to me like this is a good chance to make us insurance rate cut and try to recenter inflation and inflation expectations back at the two percent
China ready for further U.S. trade talks, ambassador says
"Front, the American Chamber of commerce in China says about a third of its members are considering delaying investments in the country as trade tensions intensify. Meantime, China's ambassador to the US telling Fox News today that the door is still open for trade talks with the US. We had Saint Louis fed president James Bullard on the show earlier today. And he said, there still could be progress on trade by baseline assumption continues to be that a trade deal will be struck. I think it would be good for both sides, the darkest hour, always occurs, right before the dawn, and I'm not surprised that there are fireworks, right at the point where you'd be trying to strike a deal, Bullard also said, the US China trade tension and the tariffs could hurt the US economy enough to justify a rate hike. But that would take six months at the higher tariff levels for that to
United States, Rich Cuomo And New York discussed on Dave Ramsey
"The mainstream media now screeches that the very air. We breathe is racist. USA today has a story. There's a race gap and air pollution. Whites largely largely 'cause it blacks and Hispanics. Breathe it there. We're told we're told to believe that one hundred thousand Americans die per year of air pollution. Although the this article I'm about to tell you about does admit that the air in this country has been has been getting significantly cleaner. But for the good of the human race, white people ought to be a radical. And so that everybody else can breathe think of the lives. It's going to save. Makes you wonder whether the anti Jewish propaganda the run up to the holocaust was ever this over the top because this really is absurd. Listen to the story the air that Americans breed is an equal rights USA today pollution is disproportionately caused by whites but disproportionately inhaled by black and Hispanic minorities. Poor air quality remains the largest environment. Women poor air quality remains the largest environmental health risk in the United States. I thought Chuck Schumer just told us that the greatest danger we face as climate change. Thank you. I can't keep up with this stuff. Poor air quality USA today. Right. Remains the largest environmental health risk in the US. The study warns in fact with one hundred thousand deaths per year more Americans die from air pollution. Then car crashes and murders combined. Let's just take the face value. And let's say that that's absolutely correct. Are one hundred thousand deaths are caused every year by air pollution. You know, what we need? More common sense environmental policies. More common sense environmental laws if saves just one life because we're talking about one hundred thousand deaths which they say. Is more Americans die from that. Then car crashes and murders combined. So if we have including suicides, if we have maybe three thousand deaths a year. From guns. Thirty thousand deaths per year from guns. This is three times at number three times the number. I think it's time for Democrats to get focused on what the real problem is. Air pollution. The study's co author Jason hill, an engineering professor at the university of Minnesota who is white writes, even though minorities are contributing less to the overall problem of air pollution. They are affected by more. Is it fair that I create more pollution in somebody else's disproportionately affected by it? Now, he says that while the air in the United States has gotten cleaner in the past decade. Pollution inequality is stubbornly high. He says what is especially surprising is just how large pollution in equity is and has been for well over a decade, the title pollution, analyzing the study is known as pm two point five tiny, grains, a particular matter there, especially dangerous to human health because they get it gets deep into our lungs. Those particles a two point five micrometres far smaller than the width of human hair or produced by car tail pipes. Power plant smokestacks and burning materials. The last I checked. Car tail pipes. Glenn everywhere. Power plant smokestacks. And you might just let's forget about on the ground where the power plant is. But the power plant smokestacks. At least in Colorado, for example. Really aren't in urban areas. And if it goes up the stack in his caught by the wind doesn't that mean that it affects everybody? The study found that black and high Spanich Americans bear a pollution burden. Blacks are exposed to about fifty six percent more pollution than is caused by their consumption. For Hispanics is slightly higher. Hispanics are exposed to sixty three percent more pollution, then is caused by their consumption. However, non Hispanic whites experience a pollution advantage. Meaning they breathe about seventeen percent less air pollution than we. 'cause now the formula they use. Is driven by disparities in the amount of goods and services that groups consume any exposure to the resulting pollution On average, whites tend to consume more than minorities, and that's because of wealth. This guy says. For example. The scientists found that white spend more money on pollution intensive goods and services than do blacks and Hispanics, which means that they generate more pollution than other groups do now think about the so. Because we buy ostensibly we buy more goods and services that create more pollution. So therefore because we we're all breathing the same air. So the disparity is because we buy more goods and services, yet, we breathe the same air that is if it's polluted by those goods and services, we're still breathing. The air produced by those goods and services. Not Hispanic whites. He writes experience about seventy percent less air pollution than they caused. Well, we give someone had to make the pin. You bought at the store says the co author we wanted to look at where the pollution associated with making that pin is located is it close to where people live in who lives there. So for the study the category. Non-hispanic whites also includes Asian Americans. And maybe the Americans this is based on the source that the researchers use government data on personal expenditures from the bureau of labor statistics statistics other experts. Agreed these findings confirm what both grassroots environmental Justice leaders have known for decades whites are dumping their pollution on poor people and people of color, that's a Texas Southern University of public affairs. Professor Robert Bullard Bullard often called the father of environmental Justice happens to be black. I don't think there's much. If any sort of. Whatever I buy. I'm breathing that air to as residents flee New York's high taxes, they're beginning to use extraordinary intrusive audits to get cash from the defectors. You can't leave New York. You cannot leave New York. New York state goes to extraordinarily links to catch wealthy residents who tried to flee. It's burdensome taxes, which is leaving a gaping hole States Treasury. They are facing a two point three billion dollar budget deficit member guests said we can't have good things. We can't have nice things. We have our priorities all screwed up. Here's a great example of that. This is the flip side tax the rich tax the rich tax rich Cuomo said last month, we did God forbid the rich leave. Brilliant observation governor. Tax the rich tax the rich tax the rich. So we did now God forbid the richer leaving. I wonder why. If you are rich, and you keep getting poked, you just keep getting jabbed in jabbed in jabbed, and they just keep taking more and more and more of your money. At some point. You say, you know, what I can keep more of my money. If I if I pack up and move to a state that's not gonna poke poke poke poke me or as Cuomo says tax rates tax Rix, tach tax, the rich.
Florida Florida, Mississippi And Florida discussed on The Paul Finebaum Show
"Another game. That's really intriguing to Florida Florida. Florida state's got a remarkable record that still intact, right, Florida. They win the game new year. Six is a very real possibility for them, which is that they have. I mean, I thought Mississippi State made a statement last week. I know it was Arkansas, and I know everybody talked about that Arkansas put seventeen points on LSU. They scored in some other really good teams. Mississippi State made a statement, I think to themselves now going into this Egbo that confidence should breathe over this. It's been a funny season Paul like as we come to the end it's been a funny season because some of these teams play jecklin high, and you kind of try to figure out who they are the one team that I say we've seen progressively get better other than the white Cup was Georgia. Yeah. Georgia from the beginning of the season two right now to me looks like a totally different thing.
U.S. data 'looking good' ahead of December rates meeting, Fed's Bullard says
Tom Thibodeau pitches Jimmy Butler on rejoining Timberwolves
"This Jimmy Butler thing is just getting crazier and crazier. You all know by now. Mr. Butler sat down with Tom timid. Oh, Andy, worry. I'm the Timberwolves front office and said, I wanna get traded. And then Tim dove was like, nah, we don't really. Trade you. We're not taking any offers. Now the reports are from, whoa, JR. Check this out till general manager. Scott Layden had been shutting down trade inquiries for Butler in recent days. And Taylor has demanded that late Nali take calls up potential deals, but reach out to initiate conversations. League sources said, this is all really get spicy. Here you need Taylor in that is Glenn Taylor, the owner of the of the temples. So the owner of the timber wolves is now telling his employees that they need to not only take trade requests calls, but to reach out and make initiate trade talks with other teams. What does that tell you about where everyone's heads at in the front office in Minnesota one starts with the owner and it goes back to what I've talked about on this program for months. There clearly was a fracture and you had to pick a side either you on the same team as Jimmy Butler at Tom pivotal who they gave fifty billion dollars to oversee. Basketball operations and the Costa team, or you were on the side of Karl Anthony towns. He ironically signs a supermax deal. As soon as they start talking about Jimmy bullard's being traded, I'm like, he didn't wait to this week like soon as they start talking about trained Jimmy Butler. He was like outside, I'll stay and they already paid as you wings. So that fracture clearly was there.
Emerging market woes weigh on stocks, China deadline looms
"It's time for Kathleen Hayes, global economics and policy editor for Bloomberg news in our Bloomberg eleven three s studio here in midtown Manhattan. I love animals too. They say animal prints are going to be in in style is season. I say what are they saying? Is it always in style? Mom, raising her, right? Always. Carol master, you raising that girl, right? All right. The bond market the bond market is not wild today. Okay. Despite prints that we're all discussing up, but there's so much going on. I think if you're you're just sitting tight. What are you waiting for come on? You've got emerging markets to decline so much though. The Bloomberg news is now writing stories about developed economies with emerging market characteristics. Italy's? This just continues and continues Argentina's supposedly is best bet to get out of its mess is this know this expert on taxes on farm exports thirty year bonds down a quarter point heels at three point seven ten year note, flat two point nine zero right in the middle of the range. Trade huge deficit big with China. Canada's is trying to negotiate this intense deal with the US trade surplus with US widens to the most since two thousand eight that's the headline on Bloomberg news Jim Bullard in town, saying something he's been saying for a while. He thinks the flat yield curve is a signal that that that may be too restrictive. He said this over and over and over again, he's a guy who says, you know, we really don't need to do much more about where we
Rex Tillerson warns of "growing crisis of integrity and ethics"
"Eight thirty am and byron ninety minutes away from the start of the country day the last day of the week it's a bright and jerry day today we'd rain yesterday was almost a red headline on bloomberg let's give you cook clash of the mortgage you could go bid twelve hundred ninety two by the way ubs say it is a painful moment for gold but you must keep the faith fourteen hundred bucks is their target in the next six months three to six months they expect the dollar to retreat from its highs wrote it over sap futures flat at the moment but there was a nice little bit of a turn of green on us stops at yesterday the question this morning is do you focus more on the geopolitics of the trump kim jong un possible possible meaning question marks ryan dot org focused on the data and the earnings on us markets that's the question i word headlines deborah mob is standing by deborah president trump says north korea hasn't directly raised concerns about his proposed summit with kim jong un and that's after pyongyang threatened through its state run news agency to pull out of the meeting anything we haven't heard anything we will see what happens korea says it feels the repugnance towards national security adviser john bolton and has rejected a socalled libya model in which it quickly surrenders its nuclear weapons former secretary of state rex tillerson has taken a veiled shot at president trump warning that a growing crisis of ethics and integrity has put american democracy at risk he criticized the salt on facts that he said would lead to a loss of freedom and added that only societies able to pursue the truth and challenge alternate realities could be truly free trump fired tillerson by tweet in mid march to conceal the truth or we as people become accepting of alternative realities that are no longer grounded in facts than we as american citizens are on a pathway to relinquishing our freedom saint louis bad president james bullard says policymakers have no business blogging strategy weeks or months in advance because they don't know how.