37 Burst results for "Chairman"
Fresh update on "chairman" discussed on Ron St. Pierre
"Going to go back to the office like we used to, and I don't need five press shirts every week. I mean, that's not coming back. But you know, restaurant certainly will be travel, as you mentioned certainly will be bouncing back, massive pent up demand for a lot of these industries that you know, even the Fed chairman says. You know, there were the economy is at a turning point right now, and he's expecting big things for the rest of the year. I mean, we're talking growth over 6%, which we haven't seen since the 19 eighties. And you know, you make a good point about certain industries and how many people will be going back to work? Actually, tomorrow I go through the national counter every week. Tomorrow is where your pajamas to work Day, which was something that was developed like 20 years ago, is a morale booster. People who ran the pajamas to work right now, as we speak here to dress up day. Yeah, I mean, really that right now People are listening to us, probably through their laptop. Through the eye hard AP and they're also online because they're starting the work day and they're probably in their pajamas having a coffee. Yeah, With any luck. I don't have it. I'm in the studio. I don't have a stitch of clothing on. How's that for an.
How to Create a More Powerful Backstory
"Chairman. A story of how you got to where you are today pussy unique stamp on who you are and how you figured things out and also creates very importantly opportunity to start building trust with your audience. Think is somewhere you regularly signposts people to today can find out who you are and how you go to now. This whole thing doesn't have to be solely focused on an about us page. It's opportunity a thinking about the various touch points where you could offer people to chance to find out more about you. Backstories are important in you. The media community. Most people know me for you. The media for new connections that wants to a bit more about the media. There is this scrapbook page. The goes through the years and the milestones is on the you all the media dakota. Uk website in the about us. Section is somewhere you subscribe as always signposted to secondly when people joined the community. I make a point of checking out there about pages to find out more about them in this year the media. We'll look at how you can give yourself a powerful backstory. That in an of itself lends meaning to everything you do as much recently said us every single interaction as an opportunity to tell a story that is right. Relevant interesting timely entertaining. Eventually people will share your story with others taking a step away from your business talk about you. The way to look at it is this. How does your about page contribute to creating and developing trust. How'd you make sure someone knows. They made the right decision in getting to know you. Sometimes all it takes is taking the soul of from the outside looking in perspective to tighten up the copy on your bio the website pages. The you the media story how we from twenty thirteen to twenty twenty one remind people the a lot has happened but that it's old how to flow constancy and trajectory to it. Is that people's mind arrest offer assurance that they've come to the right place and communicate. How much work has gone into building community and its knowledge. Base
Fresh update on "chairman" discussed on Morning News with Hal Jay & Brian Estridge
"We're still continuing the process of looking at surveillance video footage from inside the school police haven't said. Yet. If a gun was found, students at MacArthur were taken to Travis Middle School so parents could pick them up. That process lasted late into last night. And the Texas Senate has advanced a bill that's intended to change the way the state oversees it's electric power operator this after millions of force power outages in February's Winter Storm Senate bill to would require or Cons Board of directors toe all the residents of Texas. The chairman would have to be appointed by the governor and approved by the state Senate, and any changes ERCOT makes would have to be approved by the Public Utility Commission. The former Brooklyn center. Minnesota police officer charged with killing 20 year old Dante right, expected to appear in court later today from the W B A P News desk. I'm Clayton level. You're next. Updated. 5 30.
Fed Will Begin Reducing Bond Purchases Before Raising Interest Rates
"The chairman of the Federal Reserve Jerome Powell, today, suggesting that the Fed would follow the same playbook and develop back in 2013 and 2014 once it decides to reverse what it calls its asset purchase program, meaning tapering off those asset purchases would come quote well before any interest rate increase was part of a virtual conversation sponsored by the Economic Club of Washington. Here's some background since last summer, the Fed has been buying about $80 billion in Treasury bonds and about $40 billion In mortgage backed securities each month is a way to boost the economy and to keep the financial market conditions on an even keel. So for now, you can expect interest rates to remain low. He offered this assessment on the U. S. Economy post Cobain 19. E. I think the first thing to realize is that the structure of the economy is always changing. So the economy that we had back in college was one where low unemployment leads a high inflation and inflation state. Hi. It's very different now. And so we have to constantly update our thinking about the way the way the economy actually worked now bringing that to the present. We're coming back to a different economy. It's not going to be the same economy is the one we left and weigh. Don't know. Exact. What that will be, But we have some ideas and we're going to be finding out. I think you're beginning now. One of them is that they'll beam or, of course, they'll beam or remote working remotely. That's one thing another is we've talked to companies and been consulting firms who have pooped surveyed companies and many, many companies have spent the last year thinking about how they can use more effective technology, perhaps at the expense of of the number of people that need it. So do that. Do Their work with fewer people. And that's a lot of the service industry companies that have been traditionally big hirers of relatively low skilled low paid people. So that's a concern because we still have many millions of people from those jobs who were working in public facing service sector jobs. They don't have a lot of other skills or wealth. And so we need to be thinking about what they're going to do and how how they gonna find their way back to the lives and the working lives that they had, and it'll be different. Other ways as well way we'll be learning about that. And we always try to try not to settle on one model of the economy and think that we really understand this because it's ever
No More White Actors in ‘Redface’ for Native American Roles in ‘Lost Colony’
"The longest running outdoor theatrical production will no longer feature white actors in makeup playing native americans. The virginia pilot reported the lost colony. Drama staged on roanoke island will now higher native americans to play indigenous people. The play dramatizes. The story of one hundred seventeen colonists sent by walter. Raleigh from england to roanoke island in fifteen eighty seven. The shift was spurred by a dot. Org petition started by a student at east carolina university calling for an end to the production. The roanoke island historical association which produces the drama recruited the chairman of the lombi indian tribe to its board and hired a choreographer who is navajo and clinked alum bi musician and linguist helped translate the songs into the tribes and native actors will now speak their lines and algonquin. The language used by tribes living in eastern north carolina in the fifteen hundreds
Republicans Work to Rebrand GOP as Party of Working Class
"Donald trump brought more working class voters into the republican party than any other president since ronald reagan now. Republicans are trying to figure out how to keep them. The working class vote will be crucial in next year's midterms. Here's npr congressional correspondent. Susan davis in the last decade. The biggest growth in the republican coalition has been white voters without a college degree along with some growth with similarly educated black and hispanic voters. that's why republicans. Like indiana congressman. Jim banks believe the only winning path forward for the gop is to fully reimagined itself as the party of the working class and if republicans want to be successful as a party when the majority in twenty twenty two win back the white house and twenty twenty four. I think we have to learn lessons that donald trump taught us now to appeal to these voters. Banks is the chairman of the republican study committee but conservative faction in the house. long rooted. in small government low taxes and social conservatism. He recently sent a six page memo to house. Minority leader kevin mccarthy making the case that republicans need to refocus their agenda. Almost entirely on working class appeals for banks. This means tougher immigration laws cracking down on china big tech and perhaps most provocatively for republicans corporate america for too long the republican party said into the narratives that republican party was party of business or the party of wall street. Republicans are increasingly comfortable attacking corporations these days. That's a lot easier for them. After wall street donors gave more to joe biden. Major companies halted political donations to republicans who objected to electoral college results on january six and is companies take more liberal positions on controversial issues like georgia's new voting law senate minority leader mitch. Mcconnell last week issued a rare verbal rebuke of companies that oppose the law. Warning if you will to corporate america's to stay out of politics. It's not what you're designed for.
Fed Chair Powell Says US Economy Poised for Stronger Growth
"Reserve chairman Jerome Powell told 60 minutes the nation's on the verge of a major economic change. What we're seeing now is really an economy that seems to be in an inflection point, and that's because of widespread vaccination and strong fiscal support Strong monetary policy support. We feel like we're at a place where the economy is about to start growing much more quickly. But Powell said the nation has not completely turned the corner and the pandemic is still a major risk to the economic recovery. Some
Fed's Powell: US nears full reopening to 'different economy'
"Federal reserve chairman. Jerome powell pointed to a strong march jobs report as a sign of continued economic recovery. But he says the fed is still waiting to see a significant improvement in the economy before easing supportive measures and we got a taste of what faster progress will look like with the march plummer report close to a million jobs particularly if you add in the revisions for january and february and we want to see a string of months like that so we can really begin to show progress toward our goals. Powell spoke today at a seminar on the global economy hosted by the international monetary fund. He also expressed the importance of vaccines for the us and global recovery.
Box Agrees to Take $500 Million Investment From KKR
"500 million KKR's leading a $500 Million investment in box. In a deal that will see KK our tech executive. Bethany Mayor take Box CEO Aaron Levees place on the board of the Cloud software company. Levy will continue his boxes chief executive officer after the deal but will step down as chairman. The private equity firm said it will receive preferred convertible stock in box as a result of the transaction. That's a big one. Doing some deal. It's a big one. It is a big one. Absolutely. Erin
GameStop Appoints Ryan Cohen As Chairman
"Investor Ryan Colin is chairman. To succeed Curtis Wolf, who resigned effective Monday. Cone will stand for election at the annual meeting on June 9th. He's Gamestop second largest shareholder, and he's leading a transformation in the company toward more. Commerce. A couple of ARNs reports out Constellation brands is one of them. It's down
Masters Chairman Sends Strong Message About Potential Boycott
"League baseball last week, pulling the All Star Game out of Atlanta this summer. That was in response to the new Georgia voting law. They have been business is speaking out against it as well. Delta Coca Cola among them couple couple of Georgia heavyweights This week in Georgia, there's the Masters. Masters Chairman Fred Ridley is part of his annual pre tournament news conference, noting He's not necessarily in favor of the boycotts that have been talked about, I believe, and I confident that every member of this club believes that voting is an essential Fundamental right in our society. As I stated that any anything that disadvantages anyone to vote is wrong and should be addressed. I'm not going to speak to the specifics of the law, but I do know that I think there's a resolution and I think that resolution is gonna be based on people working together and talking. And having constructive dialogue because that's the way our democratic society works. And while I know you would like to for us to make a proclamation on this, I just don't think that is going to be helpful. To ultimately reboot reaching a resolution. So we would like to encourage people to talk to communicate to let the democratic process work and hopefully these fundamentals and I've stated are so important to us, and I think everyone in this room could be achieved. Ridley saying calls for
FDIC campaigns to get the unbanked to open accounts
"There's an industry term for people who don't have a checking or savings account the un banked more than seven million americans fall into that category according to the federal deposit insurance corporation and one consequence of that is not having a place to deposit those federal relief payments. Nancy was talking about now. The fdic has launched a public campaign aimed. At changing that marketplace's justin how reports households that are unbagged tend to have lower incomes more volatile incomes less education leonard chain is deputy to the chairman of the fdic. He says two and a half percent of white house or on banked and that in contrast to about fourteen percent of african american household and about twelve percent of hispanic households were unbanned. There are plenty of reasons why disadvantaged communities might avoid the banking system. You may have immigrant communities where people come from countries where where they can't trust the banking system like you can in the us. Robert james the second is the chairman of the national bankers association which represents minority lenders. You may have situations in the us where you know. People come from communities that have historically been underserved or been preyed upon by the banking system. Some minority on lenders have been trying to overcome that historical hesitation. Dominic thanh runs off this bank. A black owned lender in south carolina. It offers a checking account with no minimum opening balance and no fee if users keep at least one hundred dollars in it intentionally designed to account to be very simple very transparent there you to us through its campaign. The fdic is trying to let unbagged. People know all of the advantages opening a bank account. Leonard chain with fdic says instead of taking a check to a check cashing service paying a fee then. Walking around with a bunch of cash. The funds are going to be in an insured account as opposed to a check coming in your mailbox or even a prepaid card coming in your mailbox. Plus he says you have access to funds right away to transfer around or pay bills.
Main opposition party against mining wins Greenland election
"Britain's main opposition party which is against an international mining project involving uranium and other metals on the octagon and who's emerged as the biggest party in an election vote with all those now counted the left leaning community of the people party has secured thirty seven percent entitling it to twelve seats in the Greenlandic National Assembly in the victory speech the party chairman says a strong environmental agenda this helped it stand out at the heart is a proposed international mining project by Greenland minerals and Australia based company with Chinese ownership which is seeking a license to operate a mine in southern Greenland the community polity is opposed to the project and is urging it to be stopped for environmental reasons I'm Charles the last month
Floridians living near leaking wastewater pond can return home
"It appears the emergency situation at the retention pond at the old Piney Point Fertilizer plant in Manatee County is now east. Significantly, Most roads in the area have been reopened, except for some areas along Buckeye Road and residents who were told to evacuate this past weekend Canal Go Home County Commission chairman s a ball I'm so pleased that the interruption of life or to life as usual in north Manatee is minimal. And that our residents and business owners can return home safely. Tonight. State officials estimated by mid afternoon about 165 million gallons of wastewater had been released into Tampa Bay means the risk of a major flood has dropped significantly, although a local state of emergency does remain in place. For the
Topps to go public through SPAC deal as baseball card company ventures into NFTs
"Going to start with tops. yes tops. The company best known for baseball cards and bazooka gum is going public with mudrick capital acquisition. Corp so yes people. We have another spac on her hands. Michael eisner who used to be the person running the walt disney corporation is the chairman of tops. Eisner is going to remain in that position. You tell me. What can i interest you in a few shares of tops. Yeah i'm interested. You know chris. I sometimes make fun of so many that are coming out. We all talk about spanky stocks but to me this was because it gives you an entry into the collectibles market now there are some publicly traded collectibles companies funk. Oh comes to mind. They make those great bobblehead collectibles. You can purchase online or in stores but the opportunity to embrace to invest in baseball card. Collectibles is really neat. You know tops is not a small company more. It's been around for a decades sales last year. Rose twenty three percent year over year. Two five hundred sixty seven million bucks. This is going to be not an immaterial deal. The company will have about five hundred seventy one million cat in cash from the merger. I really like that. Tops is branching out into the most cutting edge type of collectible stare into. Nafta's non fungible tokens for those of you who are crypto enthusiasts. They have digital collectibles. I think last month. They introduced a godzilla. And if t collectible so this is not your father your grandfather's tops anymore. And this is what. I like about spags as much as i. I make fun of them personally. Sometimes they're giving you opportunities as investors opportunities to take part in sectors of the economy that we might not be able to aspects of introduced a lot of us to new avenues into alternative investments in the cloud cope. Collectibles market is an alternative investment avenue. That i've been interested for a long time.
Ship Stuck in the Suez Canal Is Freed
"Resumed in the Suez Canal after the massive cargo ship the ever given that was blocking the canal has been refloated salvage workers celebrating getting the stuck cargo ship moving the Suez Canal Open again. Now the work begins to clear a massive maritime traffic jam on both sides waiting to cross. The chairman of the Suez Canal authorities, saying work will continue around the clock to clear the backlog and that he expects will take three days for traffic to return to normal. As for the ever given, she's been escorted to a large lake of the canals midpoint where she'll be checked for damage. Dave Packer
Dozens reportedly killed in Myanmar on deadliest day since military coup
"By Myanmar's military, prompting a rare joint statement by the top military officers of 12 countries, including General Mark Milley, the chairman of the Joint Chiefs of Staff. NBC's Luis Martinez, with more from Washington. Payment by the top military officials in these dozen countries is simply extraordinary. You see the top military official in the United States joining those in Western Europe, Asia, Australia all getting together to strongly condemned the violence being perpetrated by Myanmar's military against its own citizens and yesterday being called the deadliest day since last month's coup. Also coincided with me and Mars military celebrating the annual Armed Forces Day holiday, with the parade in the country's capital protesters marking yesterday's holiday calling for bigger demonstrations after the firing of the Ducks, very football coach for allowing the use of anti Semitic language for
The Perfect Sacrifice (Exodus 37:9)
"Exodus chapter thirty seven nine. The chair of them spread out their wings. Above overshadowing the mercy seat with their wings with faces one to another toward the mercy seat where the faces of the of them so this is a verse describing the construction of the arc. And how this part of the tabernacle where god's presence would dwell among his people and there's so much we could talk about here in the construction of the arc and and the way specifically the ark of the covenant was in the innermost part of the tabernacle in a place. That only the high priests could come once a year and he would come to make tone meant to offer sacrifices for the people's sin at this mercy seat which is why so. Now i wanna read from the new testament. Because hebrews chapter nine talks specifically about the ark of the covenant and what we just read the chairman of glory so he was shepherd nine verse five above. It were the chairman of glory overshadowing the mercy seat so this picture that we read about an exodus was foreshadowing. What would happen all mentally. When jesus would come and he would make mercy possible for you and i to enter into the presence of god hebrews chapter nine verse eleven to say but when christ appeared as a high priest of the good things that have come then through the greater and more perfect tent not made with hands that is not of this creation. Not like what was happening in exodus. He entered once for all into the holy places nod by the means the blood of goats and calves which is what would be sacrificed their blood and that picture in the tabernacle and the ark of the covenant there but by means of his own blood thus securing and redemption
Maryland businessman offers to buy Tribune newspaper company
"Maryland businessman has offered to buy the Tribune Publishing media company that owns the Baltimore Sun, The Chicago Tribune and other newspapers. Choice Hotels. International Chairman Stewart Behnam offered 650 million for the company. But the Chicago based company's board is already endorsed a $630 million offer from another busy bitter New York hedge fund al Din, Global capital. Tatum has said he wants to turn the sun into a nonprofit.
Stablecoins in the Hot Seat: Powell Calls Bitcoin a Substitute for Gold
"There was an absolute flurry of content and commentary yesterday around the place of bitcoin. Stable coins defy and the digital asset industry as a whole vis-a-vis. Us government regulation as well as how a digital dollar might shake that all up before we get into it. Let's at the terms of the debate. One of the competitors for this cycles top fudd is the government will ban it if it gets sufficiently threatening now to be clear banning depending on your sister could mean anything from an outright ban of use in holding too forceful seizure too limiting access to on and off ramps to the more benign from a commercial standpoint but no less threatening from a privacy standpoint integration of the full crypto infrastructure into the am l. kyc. Money surveillance apparatus. I've spent some time on this show looking into global versions where this fudd seems to be playing out in particular. We've been watching the evolving situation in india and nigeria india which seems gearing up for a bill that would have some sort of outright ban although at least one finance minister says that that's not the case and nigeria. Where the central bank of nigeria. I reiterated that banks should not be working with crypto users which they've then subsequently rolled back just a little bit either way however really what everyone has been focused on is the us particularly in the context of a new administration. The last administration had friends and foes alike when it came to bitcoin and crypto trump. Famously tweeted that he did not like bitcoin or crypto. But we didn't really take that seriously as a threat because it was so clearly about zuckerberg and libra mnuchin was a much bigger enemy. Probably wrote that text for trump's tweet even and clearly wanted to tighten the reins in his final act. He was trying to require exchanges to collect more information. When users transferred crypto to their own wallets on the flip side however there was brian brooks who was absolutely revolutionary at the office of the comptroller of the currency. The changes he oversaw are a huge reason. Why so many big institutions are now playing in this space. Why so many big traditional banks feel like they have to race to catch up to allow people to offer their customers crypto services however as we know from physics every action has a reaction and to some extent one reason why observers are so keenly watching the biden administration is to see how much they're going to respond or try to walk back with brooks in the occ changed on top of that. As the biden administration has come to power the price and volume around bitcoin stable coins and the rest of the digital asset industries have made them much more on ignore -able last time joe biden was in office. Bitcoin is about four hundred and thirty bucks. Now it's been over fifty thousand dollars for sixteen days in a row tether was barely out of diapers now. It has a market supply above forty billion in his doing upwards of one hundred billion dollars in volume per day combined with us dc. And you've got over. Fifty billion dollars of usd approximates there so lot more is at stake with that. People have been watching. Two things has come in and what they're saying on the who has come inside. Janet yellen is back for another round although this time is treasury secretary rather than as he chair gary genzer to is back. Although this time is as he c- chair. Instead of cftc chair of these two there is much more optimism around gessler who has done a pretty fair bit of work to understand where the crypto industry is coming from even teaching a course at mit about bitcoin and blockchain. And of course we have someone who still around in the form. Of jay powell. The federal reserve chairman. His ex factor. And all these discussions is the potential of a central bank digital currency a digital dollar. That could potentially shift the us's relationship with these projects now in terms of what we've seen these actors say so far over the last few months up until now it's been pretty standard fare one part. There's a lot of exciting potential here. One part we have to protect investors though and one part but it's also used by criminals over the last couple of days however we've gotten both comments and news that could shift as into our next phase of understanding what the us is relationship with. Bitcoin stable coins and other digital assets is going to look going forward. So let's talk about powell speaking about cdc's and cryptos at a bank for international settlements panel yesterday. Let's talk about the announcement of digital dollar prototypes coming this summer. And let's talk about new draft fat. If guidelines around cryptocurrencies. I up powell. Did a session yesterday with leaders from the bank for international settlements including augustine carstens. We talked about last week. He was asked about crypto currencies. And whether he saw them as a threat. And here's what he said. We call them crypto assets. You know. they're they're highly volatile. See bitcoin and therefore not real useful as a store of value in there not backed by anything. They're more of an asset for speculation. So they're also not particularly in use as a means of payment. It's more speculative asset. That's it's essentially a substitute for gold rather than for the dollar. And i think with crypto acids the the the public needs to understand the risks. The principle thing is there's the volatility there's also the outsized energy requirements requirement for for mining. And the fact that they're not backed by anything so let's break out these three reasons that he wasn't particularly impressed by cryptos. I this idea of volatility or that. It's just an asset for speculation. Basically he's dismissing bitcoin and any other crypto as something that he does not have to stress about or really factor into his consideration around global monetary competition while many. Bitcoin is grabbed onto the essentially a substitute for gold piece as a great tweet and knocked to the gold bugs. Who they're trying to convert or at least undermined powell was saying this more. Like a giant shooing away. A fly gold is to him clearly. Irrelevant an unimportant antiquated part of the fiat system that he sits at the helm of in that way a substitute for that thing does not present a threat
"chairman" Discussed on The World Next Week
"On the road meeting with different countries. But i don't know if you want to perhaps even talk a bit about just dumb that congressional proposal to raise the two percent default recap absolutely so obviously first and foremost. We're about protecting the taxpayer and for the critic of the bank. I i wanna be sure. They know that time when we when we do underwriting We have very strict standards that that speaks to our very low default rate as it is in in so Right now is point. Eight percents uptick the little bit because of covid nineteen but but for the majority of my time here and it's been under under five percents Point five percents Which i'm told when i ask every bank joyce's is is a point. Eight percent default. Right pretty good. I make all the bankers laugh at us companies. That's so but but but in and of course so congress's imposed default rate cap of two percents. That what is happening when you hit pencils down and you stopped doing what you do until you bring bring that down and and i appreciate that because we're all about the taxpayer and the foreign purchasers who default shame on them so we do a pretty good job of it and we can repossess planes if we ever need to. So but that that we're really good about that. We also charge interest and fees on each of our earn loans and we give that money millions and millions of dollars or report operational to the treasury We're our job is not to make money for the government but when we're fully operational were self sustaining agency but as you look at something like covid nineteen and this Hearing loud and clear this is when we are needed most were just as we were needed right after the a financial crisis in so he hit that two percent cap That at maybe defeats the purpose of of when. Xm as needed marched. And so if we would ever get near that. I'm gonna be up on. The hill immediately was congress to let them know About that. I think they understand that In congressman andy bar A wonderful member of the house financial services committee who also is on Something called the china. As china task force he's introduced legislation. to allow xm taina program to raise that that default cap To five percents in that is because think about the law says match the right terms and conditions of china and At to be able to give deals in winston united states so maybe we will have more risky appetite in a chinese who are probably watching today and we love the chinese people. It's the people's republic of china and chinese communist party that aunt i'm talking about here But i was asked flat out How are you gonna risk with this. And so we're still going to be about the at protecting the tax payer doing our due diligence. it's always a standard of reasonable assurance of repayment. So these things but but but we will be Were aggressive so we'll see where that legislation goes of course end of the congress of bills have to be Reintroduced in hopefully were laying. Good rent. get round. Work here for The future future work By the congress. And i wanted to say how much i appreciate my authorizer chairwoman maxine waters ranking member. Patrick henry chairman mike crepeau in a ranking member. Senator sherrod brown I feel that we've worked really hard to to put this bank in a in a in a good place for for the future though. Thank you so much chairman reed so we now at this time i would like to invite members of the Membership to join the audience from the conversation with their questions and a reminder that this meeting is on the record the operator will remind you on how you can join the cash question you ladies and gentlemen as a reminder to ask a question please click on the raise hand icon on your zoom window when you were called on please accept the anew now button state your affiliation before proceeding with your question to the roster of see if our members registered for this meeting please click on the link zoom chat box. We'll take the first question from ron shop. Summarize help because of the pandemic. i've resorted being austin. It's documentary filmmaker. I realized it's really very new in your regime. You might say already working on or done. A deal actually involve financial help for china. And secondly could you name a couple of really significant significant ones. You're done are working none with manned so obviously as we look at Supply chains in what goes into that china china's an issue in congress in their reauthorization of axiom has put in Standards for us to notify congress if we ever deal with the with the with the transaction. The board considered transaction where where china might be part of that That has not happened to date under my tenure here But i would say that we've worked hard to make sure that we are Using her china program It's been hard until we did the change that we just did this morning by but i will say that We approve the largest deland. Xm's distri an ideal. That's going to be transferred. Transformational for the Country of mozambique. We approved a four point. Seven billion dollar transaction in this is four point seven billion dollars of us goods and services. And i touched them by a company called air products to be sent to mozambique to help them develop their Ellen g capability and.
"chairman" Discussed on CFR On the Record
"But when we're fully operational were self sustaining agency but as you look at something like covid nineteen and this Hearing loud and clear this is when we are needed most just as we were needed right after the a financial crisis in so he hit that two percent cap That at maybe defeats the purpose of of when axiom as needed marched. And so if we would ever get near that. I'm gonna be up on. The hill immediately was congress to let them know About that i think they understand that In congressman andy bar A wonderful member of the house financial services committee who also is on Something called the china china task force. He's introduced legislation to allow. Xm with our china program to raise that that default cap To five percents in that is because think about the law says match the right terms and conditions of china and At to be able to give deals in winston united states so maybe we will have more risky appetite in a chinese who are probably watching today and we love the chinese people. It's the people's republic of china and chinese communist party that an aunt that i'm talking about here but i was asked flat out How are you gonna approach risk with this and so we're still going to be about the at protecting the tax payer doing our due diligence. It's always a standard of reasonable assurance of repayment. So these things but but but we will be Were aggressive so we'll see where that legislation goes of course end of the congress of bills have to be Reintroduced in hopefully were laying. Good rent. get round. Work here for The future future work By the congress. And i wanted to say how much i appreciate my authorizer chairwoman maxine waters ranking member. Patrick henry chairman mike crepeau in a ranking member. Senator sherrod brown I feel that we've worked really hard to to put this bank in a in a in a good place for for the future though. Thank you so much chairman reed so we now at this time i would like to invite members of the membership to join the audience from the conversation with their questions and a reminder that this meeting is on the record. The operator will remind you on how you can join the cash question ladies and gentlemen as a reminder to ask a question please click on the raise hand icon on your zoom window when.
"chairman" Discussed on The World Next Week
"Thank you so much. And welcome to today's council on foreign relations meeting with kimberly reed president and chairman of the board of directors of the export import bank. I'm joyce chang cherif global research. Jp morgan my held the true pleasure and honour of presiding over. Today's discussion. We have more than two hundred and fifty participants registered for this virtual meeting and we will do our best to get through as many questions as possible during the question and answer period so again. This record is this on record. In addition to the council on foreign relations member invited members of the press also present. So i i wanna provide you with some that ground on chairman reed and her incredible journey at the eximbank to frame the discussion. Xm is an independent federal agency that has supported nearly one point five million jobs in all fifty states over the past my facilitating the export of us goods and services. It is note that chairman reed is the first woman in the xm banks eighty six year history to be the battle and she assumed this position in may of two thousand and nineteen affixing leadership roles for twenty five years prior on job creation trade economic development food and agriculture and at an end before measures. She served under in colson and john snow. She was the president of the international food. Information council and she also served as counsel to three separate committees in the house of representatives. But what some of you may not know about. The history of the eximbank is the bank had been shut for four years when congressional authorization for the bank had lapsed in two thousand fifteen and so when chairman reed took over. She was confronted with this challenge. And so that's really the first question. I have a true. Welcome to you chairman reed. Can you discuss the xm's mission and how it execute its mission support. Us jobs and tell us a bit about how you went about reopening agency that had been closed for four years and about. I'm just what steps are being taken to ensure the sustainability and the mandate for the xm l. Thank you very much choice. And hello to everyone and i believe that my predecessor fred. Hochberg also is joining us today. I sent greetings from The eximbank headquarters which is on the northeast corner of lafayette park overlooking the white house. Right now and and i want to say For all the reporters listening today. We just made big news so we just came out of a of a board meeting And so happy to discuss What we adjusted which is chain our content policy joyce before before we go into the discussion on. Let me just read to you. What we justed working on the press. Release as we speak. I'm very pleased to announce here at the council on foreign relations that for the first time in a generation and a half the accident board established targeted domestic content policy pretend export sectors key to us prosperity and security accent board. This morning took a tailored approach and voted unanimously to establish the projects or procurements involving tanking freshly mandated. Transformational export sectors will qualify for xm financing if the proposed transaction needs fifty percent of us content threshold in of certain other requirements are met in addition if certain requirements are met which i can go into a xm will be able to approve a transaction if even if it does not meet the fifty percent threshold a wide range of stakeholders in the private and public sector support from the change with many representing us. Exports face strong competition from the people's republic of china. And i will say also that joining me in the board meeting today. Our my fellow board members spencer bacchus in judas prior as well as our ex-officio member. Us secretary of commerce wilbur. Ross up under secretary of state keith. crack provided comments from under secretary of the treasury Macintosh in also to set the stage for today. Senator kevin kramer north dakota and i published an op ed in The hill appeared online. So but we can talk more about This when you're ready. But i just hot off the presses. Nine my it's been a long a long a great journey since may of twenty nineteen. We'll consumer chairman reed because that is really breaking news for all the our members to view the first the here and it seems like that really brings us much more in line with some of the other countries like china and germany but but about your journey and the mission of the eximbank. If you can just lay out exactly how you do execute this mission. Well my dream. He's been amazing Choice laid out my background When president trump was elected was on the treasury Transition team or the winning team going into the treasury department and had very productive discussions with the alabama political appointees and career staff since i spent Where the three years at the agency and love the agency and when presidential personnel Asked me What they thought. I should be doing in government service They suggested xm in. I'd really not thought about accent before And i considered it because when you're asked to serve you in the upper said Isn't that a the bank of crony capitalism in that isn't that That place shutdown in other comments like that and but they're like no president has changed his mind. He wants to reopen the bank even though during the campaign He supported Not reopening it. He changed his mind after talking to businesses in hearing a- for santa that the united states was missing out and so i didn't even appreciate that that happened and so i looked at my background. A tying treasury i worked briefly lehman brothers In also in the world of food and ag helping with our us companies to export around the world And and. I said you know what i guess. This makes sense in so i went on a journey that took two and a half years of my life and and And again it's an issue that democrats as support I had one hundred percent democrat. Yes vote on my confirmation In his free market conservatives who are not fans in the bank in so As a as a republican. I really wanted to help bridge that divide in listen. Listen to at their points in a coming out of that I committed to Some key reforms with senator pat toomey of pennsylvania such as increasing transparency. Holding bad actors accountable. In as i tell every financial institution that i meet with We won't compete with you. You want to supplement in do all we can't route through our mission so i was finally confirmed On may eighth. Twenty nineteen seventy nine to seventeen in that which is a very good vote and And again hundred percent democrat. Yes vote on me but working really hard to Transform our agency so Normally i was told it once. A senate photon you. It takes about two weeks for the paperwork to go through the process before you can go in and take your oath of office and start your chop and so The day after confirmation I'm at my kitchen table on the morning of may ninth in my nike on drinking my coffee and emailing Lots of people that i was so thrilled to be taking on the charge and i call from the white house and they said kim. We've never seen this before. The president united states immediately signed your paperwork. You have an hour to get to get to work and take your house and so i. I called my dad who lives in west virginia. Been looking into this event toll life and for me to do something rarely the biggest thing in my career and said you're gonna miss it dad and got in my car right at my speech and That.
"chairman" Discussed on CFR On the Record
"So I really appreciate your reason the profiled, the issue we are focused on it Intel Committee. And and want to bring about legislative reform. But I realized that that doesn't deal with the most immediate threat the the final thing that I would I would make on this. Is. One of the reasons why we have we have seen such destruction. Of our democratic institutions over the last three and a half four years is not just because of don trump. It also because we have had a GOP majority in Congress utterly unwilling to constrain him unwilling to defend its own institution let alone other institutions. Very. Low. This would be possible by the president acting on his own or even acting in the face of a Republican resistance. But that acquiescence that complete debasement, the the the remaking of the GOP in Congress into a cult of personality around the president means that you have basically one house trying to constrain this president. And that's very difficult for one house to do that job. On, an issue PhD's if we had a normal congress that was untethered to this cult we might be able to pass that legislation standalone legislation to require disclosure to put a place safeguards, but we can't do that on her own one house only and so investigation oversight that we can do are doing. Prospective performs which will enjoy bipartisan support when this president has gone that we are doing a that still leaves the country vulnerable during the interim. Thank you for gracefully answering not only question that was just put you but mine as well. About what Congress at Congress? Here next question. Right our next question will come from. Nicholas Shipren. Experience. Much chairman for doing this wondered if I could pick up on Mary Louise Questions about what is happening in the news and wondered if you could comment on whether you believe. That the director CIA age in a hassle and pull. Nakasone. The head of National Security Agency both objected to ratcliffe releasing his letter to Senator Graham and if so what does that say? About the entire Ratcliffe and then to ask larger China Question Administration has tried to create a kind of digital Berlin Wall around the world is trying to create one with a clean path initiative trying to separate five G.. Chinese five G. from Western five G. whether if you think that's an effective way to combat the threat of Chinese Technology X.. Thank you. You know in terms of weather, other agencies descended. From the conduct of the deny ratcliffe and just the to declassify us. We're trying to find out. I would hope that they did and I would hope that we can get a straight answer to those questions. I would like to think that other agencies are resisting this over politicisation that Mr Ratcliffe engaged him. So, we're trying to get the answer those questions. I do think that some of the elements of the icy had been better at resisting being drawn into. The corruption of their enterprise by the president by his administration than others.
"chairman" Discussed on CFR On the Record
"Thank you good evening, everybody. Happy Wednesday. Welcome to today's Council on Foreign Relations Meeting I'm Mary Louise Kelley. I will be presiding and we are fortunate tonight to hear from have the chance to question Adam Schiff as many of you. Now, he is chair of the House Intelligence Committee Longtime Congressman Democrat from California. He led the House inquiry at that resulted in. The impeachment of president trump last December and then led the prosecution when that case made its way into the Senate and they held their impeachment trial earlier this year here with us tonight to talk about among other things, China how much US intelligence news about China how US intelligence should perhaps reorganize itself to learn more about China's ambitions and plans and motives. and. Congressman I know you have some opening thoughts. So let me welcome you to the council to this meeting and threw over to you, and then we'll get into some questions after you're done. Well, thank you very much. Really appreciate the opportunity to speak to the council and at. Thank you for moderated the discussion. Two years ago we began an intensive look at China. The challenge posed by this rising power? With the one fundamental question in mind that was is the intelligence community posture to deal with the challenge posed by this nation across every field or domain. So are we poised to be able to? Analyze the challenge in space in the seas on land through. Development. Assistance foreign policy technological innovation. The challenge ideologically as we see, uplift ration- of Authoritarianism or China's case totalitarianism. Driven by technology by C. C. TV cameras and facial recognition software and the integration of big data analytics are we prepared? After decades of focus on the war on terror to deal with these hard targets and significant state a near peer competitors. And the answer is no we were not posture. In the way we need to be We had such a long focus on the threat of terror. I. N that was necessary and I think we were largely successful until Pensacola. In preventing major of Foreign Terrorist Attacks on. US soil. But as a result, our capacity vis-a-vis some important nation states like China and Russia. Atrophied and give a China's rise in Russia's decline it was. Apparent that we need to put a strong focus on what it will take to compete. To give policymakers the information that we need that the president. Needs. In order to meet this rising challenge And so let's we did. Our report is critical of where we are now. But not alarmist. There is time to reorient the aircraft carrier that is our intelligence community and Change Direction. And meet this challenge. It means we need to invest in our people. And make sure that we have the expertise, the language skills. But we also deployed those people. Across the different domains, it's not enough simply a stovepipe focus on China but realize that there's a Chinese piece to so many different threats and challenges we face. And the pandemic, and we'll talk about the pandemic during the discussion is a perfect illustration of how. It's not enough to have a focused on a single nation, but we need to look at the cross cutting series threats. And challenges that can. Emerge. From that nation or others we, we also need to make sure. That we are prioritizing. Our intelligence posture, we're not able to do everything..
"chairman" Discussed on Aaron Mahnke's Cabinet of Curiosities
"chairman" Discussed on EAA's The Green Dot - An Aviation Podcast
"And it's been such A. It's such an interesting challenge to say the least I there's. You know historians GonNa be writing about this period of our history. I think for a long long time. There's no way to. There's no one word that sort of sums it up, but you know. Something I I know. You talked about in a recent column of yours. was that you know typically when there's when there's sort of. A natural disaster, hurricane or something like that. You know we see a members coming together and <hes>. You know they're going to band together and start flying relief supplies and things like that. There's there's some action that can be taken. Any a ears are always. Right there front and center to do it and we we do know of of some cases like this and the pandemic, but really when the action. that. Everybody has to take is sort of hunkered down at home. It becomes a very strange thing I think for our culture. It really is. It's <hes>. It's not how. It as you say, it's exactly. Against what our culture's all about which is gathering celebrating and Having good Komo, Camaraderie, so it's it's so so against that when we when we finally got into. The decision. We had to make the beginning of May then. It was spending the rest of May. Unraveling all the efforts that we had moving forward to have the event, and starting to look at what the rest of the year was going to look like, so it's been it's beginning down to what I would say, normal work pace, <hes> not the frantic one that we had again. <hes> I've been been. In headquarters it's it's a very different place when we've asked people to continue to work at home. And wear masks and having the proper. Distancing insanity. You just lose that. Excitement feel that we all have. We come to work together because I think one thing about our team is. Everybody enjoys being a part of the mission working for the members in the. Not there, it's very empty.
"chairman" Discussed on Squawk Pod
"Is the process? They undertook to make the decisions and ultimately surfacing that flawed assumption and anyway it was sort of clearinghouse clearly. Noah's hiding anything. It was a set of engineering decisions that ended up being wrong and our job now is to make sure that whatever processes we have whatever prices are regulator has that those processes never allow for this to happen again that that assumption just because history suggested it was a great assumption just because history and the record suggested that turned out. It wasn't right and we have to test that every day. But you know representative defies. You'll last week. You were watching the hearings. He said look. There was an email that was sent from a Boeing chief technical pilot that Dennis Muilenburg and some of the executives were aware of that essentially brought to to light this question of whether or not executives were aware of concerns. With 'em CASS. I've talked to a lot of pissed off pilots. They said we were the backup system. Can we be backup. We don't know something's going to take over our plane they are There's quite a bit of discontent out the aviation community about that. Was the board aware of that. Before Ethiopia crash separate the first of all the I am was discover covered and turned over to the authorities that we were meant to turn it over to the question you're asking is when it was written was it surfaced then as a concern was at fleshed out. Is there a broad culture question. The answer is it wasn't do we wish I should had. Yes what did have resulted in something different around that assumption. That went wrong. I'm not so sure that I would hope hoped that it would. But none of that happened so our job is to make sure that it will happen. I do not believe that. Instance that isolated instance is indicative indicative of a cultural problem. I have not seen that in the many touches that I have had because you know they yesterday. Representatives Representative Larson. They sent a letter to the rest committee and they essentially said there's a culture of concealment of not being one hundred percent up front when it comes to safety and I just don't I just don't see that I don't I believe it. I have many touch points inside Boeing. I always have that question of culture and anybody's willingness to trade safety against anything else. Never seen it never touched it. Don't believe now. Don't confuse that our culture on this subject can get better. We can do more with visibility. Everybody knows that we can strengthen all the independent arms that are meant to put judgment against every decision in favor of safety we can strengthen those we can increase sort of authority across the company and those are the steps that we are going to take Joe in your view. What's the right right balanced between the company and its employees and the cooperation with regulators in the the FAA? Obviously the I can't imagine and the FAA trying to certify something without a close working relationship with the company and yet if it's too close then figure bigger than maybe the FAA is doing Boeing's bidding Ford. So how do you get that balance right from here on out because that's going to be something that people look at closely honestly I. That's a great question that definitely came up in the hearings. I just don't want anybody to be confused. Reform will happen. Form has to happen the system. Let everybody down. I totally understand that delegation of authority over a fairly lengthy period of time has delivered incredibly strong results that safety record demonstrates that and the involvement of the most technical of the team at Boeing and their involvement in that process good one if a rebalancing has to happen by way of reform so be it so be it. I get that I think both both the FAA and ourselves will look hard at these La Carte at all of these a practices we will attempt to improve on our own and we will encourage reform four at every at every. Turn all in the name of safety squawk pod. We'll be right back. What kind kind of Tech Company does the world need today? One that applies smart technologies at scale with purpose and expertise. Not just for some but for all with with a AI. Blockchain and quantum technology IBM IS PARTNERING WITH CLIENTS TO DEVELOP SMART scalable technologies that help businesses work better better together. Let's expect more from technology. Let's put smart to work visit. IBM DOT COM slash smart to learn more. You're listening to squawk pot with more from our exclusive interview with David Calvin Boeing's chairman of the board. Here's becky quick Dave we we've had people analysts and others who have come on the show and defended Boeing saying look if they think a big part of the problem with this was a lack of pilot training and some of these incidents. Do you think that this was a situation. Where pilot training wasn't up to snuff or was this an actual problem with the system and the design? Becky there were a a lot of contributing causes. My our job is to fix. Fix 'em gas and make sure whatever inputs ultimately come about in that cockpit at that moment do not create a pin known him. There is no question. The fundamental assumption we designed around was flawed with respect to how a pilot would react. And that's our job is to fix that assumption and work with that man machine interface with all of our customers and all of the regulatory authorities around on the world. If you ask me that is the that is the center of the issue that has to be addressed as we go forward and develop every next new airplane. The the sensors were you had to put trust in at the end caps was reading. There have been people that said that pilot tournament flying planes anymore. More is too much automation at this. Point is if a pilot and was actually more involved with the takeoff than just relying on software elsewhere in an automated systems. Would the same thing have happened to these guys. Fly planes anymore. Cancer the second part. Because it's speculative live in nature pilots to fly airplanes less and less in terms of controlling them up in flight. But I do think we're past a sort. SORTA that that moment we are going to have to deploy automation. We are GONNA have to ultimately almost almost make these airplanes planes fly their own. Make no mistake. I wouldn't want to get on an airplane without fat pilot their judgment their behavior at moments of critical local importance is. That's why get on an airplane. So forget my life at Boeing. A and so we're going to do everything in our power to make their job easier and it will likely increase the level automation in the cockpit. What spellings relationship with the new head of the FAA he? He seemed like he was irritated with with the company at least in recent weeks a- based on some of the release of information that had gone to the criminal investigation but not necessarily to the FAA. Can you tell us what the latest development is in that and your latest conversations. Well Dennis appropriately apologized for that situation in. None of us are. Nobody's happy about that. He's exercising his independent. Says the regulator. So I don't even want to suggest gest. There is a relationship our respect for the role. He is in and our respect for the judgments he has to make over the next Next month or two I don't again I don't Wanna I don't WanNa suggest we have one. He's doing his work. He's doing it the right way. And he's going to listen to everybody inside his regulate Regulatory Authority and make sure that everyone is comfortable. This airplane is in fact as safe as we believe it has dave let me ask you about the airlines. Your customers customers Gary Kelly. CEO of southwest was on our air not long ago. And he's very upset. I mean he came out and said I'm not happy with Boeing it all and they are going to consider looking at Airbus as a possibility to find a future. I've been very clear. We're not happy where we go from here is a question. I've also made clear that will address next year as to whether or not the strategy that we've deployed for forty eight years is the one that we want for the next like forty eight years but you guys have been to in a pod. Since they started in nineteen sixty seven he said that. What did you think? I said sort of good for that Gary Gary. Rei I've known for a very long time he is. He's a fantastic. CEO He He's objective about everything. We have let him down. There is no question we've let him down. He was entirely dependent on the Boeing.
"chairman" Discussed on Left, Right & Center
"I think that would be a good part of the package and then finally i wanted to point out that many democrats and not just those on the quote far left have been talking more and more more about unions right they <hes> <hes> better work as come out in favor of ouija boards buddha judge who may or may not be a moderate but he's he came came up with very strong union package and this is about helping to ensure better distributed growth obviously vice president biden is also a big labor supporter quarter and is supported by labor so i think going back to the union argument in china to wages is something that i'm seeing across the <hes> you know the rain democrats rich which aside from the the one very obvious suggestion for republicans in congress to make which is stop the trade war. Stop causing unnecessary disruptions in the global trading system. What what is there for republicans. Who aren't the president's proposal because i feel like this is this is always a problem for ideological conservatives at a time when the economy is starting to look weak that they have this idea that you know the government's government's not supposed to manage the economy <hes> they periodically indicate skepticism about the idea that fiscal stimulus even works to support the economy so what what should republicans be saying. We should do if people are nervous. Besides don't cause more problems with china. I think in general you should advocate policies good for economic growth in the long term rather going for a sugar high <hes> in a downturn in real crisis situation which we were an o._a. And oh nine but obviously the the trade war is the the major problem here and problem is the presence not going to back down from it anytime soon and <hes> the chinese are sensing weakness which which is why the what would have been seen by some points views conciliatory move and putting off these <hes> consumer oriented tariffs that we're gonna come on. I was read by the chinese not illegitimately as a sign of weakness an assigned that trump realized that the tariffs is supposed to be hurting china also hurting here at a time when our economy may be slowing down so he lost leverage in the chinese are exploiting that at the moment i still think there is chance of some minimalist deal <hes> what kind of paper over these differences going into twenty twenty <hes> but maybe it's just gonna be contention all the way through. There's another big economic story that i want to address. It's also an environmental policy story which the trump administration has proposed to partly rollback auto emissions rules that had been imposed under the obama administration. Those rules were set to require automakers to gradually but very significantly unle increase fuel economy through two thousand twenty five ultimately they were supposed to reach an average of fifty seven and a half miles to the gallon across car and truck fleets instead the trump says they will freeze the guideline at just thirty seven miles to the gallon and they're proposing to take away states power to impose their own more stringent rules which california has done for decades. Now california says stripping stripping them of that power is illegal. They're fighting trump's rule in court and there's a coalition of automakers. That's really upset about the uncertainty. This creates about what regulations they're going to operate under whether they're gonna have to sell vehicles for two different internal markets in the u._s. So they've reached an agreement with california to essentially follow the rolled back obama rule even though trump says they don't have have to that's honda ford volkswagen b._m._w. Mercedes benz is also about to sign up to this coalition. According to the new york times on the times also reports. The president is outraged about this he. I believe this plan is going to grow the economy. Although consumer reports estimates that his approach with lower fuel economy would actually cost consumers thousands of dollars over the life of their cars due to higher fuel consumption and <hes> tony..
"chairman" Discussed on Left, Right & Center
"But for businesses who are making planning decisions on hiring investing and <hes> you know the the idea that they that companies can just sort out the new supply chains that have been built up over decades <hes> that they can do that in in a short period of time is not at all realistic and so it it is <hes> causing <hes> adjust adjustments and very likely <hes> you know source of instability for <hes> for <hes> for the economy so so on q. after chairman's powell speech <hes> president was out with strong criticism of power and adding to that uncertainty once again in <music> <hes> in ways that now. I suppose we should expect it now. I think you know we we treat trade. Even pow in his speech today talked about trade need a variable factor things that will go up and down and change and i think we should maybe rethink that that <hes> uncertainty <hes> in the trade situation should now be considered a constant and probably should be considered a constant by the the f._o._m._c. felicia. Is there an opportunity here for democrats to sort of seize the narrative on on the the economy. I don't i don't mean the sort of long-term restructuring the economy stuff. I mean to come out right now and say yes. The economy is at risk of recession because of irresponsible things. The president santa's doing here is our package of things that we believe will help stabilize the economy. Let's do it infrastructure package now. They could propose some sort of tax rebate which i assume they would prefer over a payroll tax cut that would be a rehashing the fight that we had ten years ago in the last rescue basically being out there and saying here we have a short term plan for what we're going to do to stop trump recession from happening happening and you get one of two things either the president would ignore them and then they can go out on the campaign trail and say we have a plan even though he doesn't have a plan or he gets desperate. Maybe maybe he actually takes them up on it and they can work out. You know can finally be infrastructure week. It seems like either way that goes that would be a win for democrats right and i do think that <hes> democrats are actually really moving in that direction. Let me just point out one thing about the fundamentals before we think about what democrats might do in the short-to-medium term. We say a lot that wage growth is up especially ashley at the bottom of the incandescent island that is actually true and that is good but that basically has only gotten us back to neutral given where we would have been without the two thousand eight two thousand has nine financial crisis and i think you can't overestimate that when you look at our our larger politics with respect to what you know democrats could proposed oppose now. I do think some kind of tax rebate. <hes> would be popular in the medium term ultimately though i think the democrats are already on board award with higher taxes especially relative to the two thousand seventeen law so i do think that is and that obviously tate's legislation but that is where <hes> i think the entire party hardy is going to go. I do think that with respect to public spending on some kind of infrastructure that could get us some way towards you know <hes> green a a green new deal..
"chairman" Discussed on Left, Right & Center
"The corporate forms should have pro growth effect over time all things being equal. All things are equal a little hard to <hes> <hes> determine the specific effect of that and at the same time. There's this big tax cut. Their tax increases is in the form of tariffs and the effect of the tariff seems to be <hes> pretty severe and the options here aren't great. I mean they talking about <hes>. <hes> unilaterally indexing capital gains not clear what the economic effect how big the economic effect of that would be or importantly if it's legal treasury lawyers lawyers i understand say it's not legal wouldn't stand up in court and you. Are you really going to get the house. You know to pass a big payroll tax. Cut <hes> you know you you can't hang getting another corporate tax cut through this congress and even if the republican congress doing it again going to that well second time would be really hard so you're left with the fed and <hes> jawboning the fed rates is tony points out of really <hes> quite already quite low so you'd be kind of a quantitative easing situation and i don't don't think we're there yet i mean it's clear that the the there's some disturbing numbers in the economy but incomes are still growing and that should <hes> keep us out of recession but but it might not keep us out of a slowing of growth that makes what would have seen this presidents major political selling point in two thousand twenty a little assailant tony. What did you make of what happened on friday. We're basically the the federal reserve has its annual conference out in jackson hole where people get together and they talk about monetary policy and other other things. The fed is up to in jay. Powell chairman gave this anticipated speech that i basically went as expected where he described things that are similar to what he said. After the last fed meeting that we're the notes from that meeting that there are various things that are weakening the global economic outlook including the increased tensions about trade globally and those are factors is that sort of pushed toward <hes> a a reason for the fed to think about maybe accommodating some more doing what he keeps describing as a mid cycle adjustment <hes> they did this a couple of times in the nineteen ninety s where were they cut rates three times even though the economy wasn't going into recession so that seemed like about as expected la things in line with what he said in the past and the president freaked out and said said well. You know who's our bigger enemy. Is it jay powell or is it chairman she and then the president announced another round of retaliation towards china knocking hundreds of points off the stock market. We started the segment talking about well. The president has control over trade. He wants economic outlook to look better. The best thing he can do is try to back off on the trade war but it looks like when when he gets upset his instinct instinct to escalate their yeah that seems to be the direction that he'll <hes> just instinctively go and and <hes> i don't know who <hes> <hes> set expectations for the president which powell speech but it seemed the from his tweets before <hes> pile speech that he had some anticipation that maybe powell's gonna announced some kind of <hes> <hes> plan to <hes> to accelerate the <hes> the the mid cycle adjustment and even you know indicate <hes> <hes> <hes> <music> <hes> bigger cuts to come in in the future so i don't know if that was his own expectations or if one of his economic advisors led him to believe that powell is going to be there but his reaction was was was pretty volatile clearly did not read <hes> you know what what palestine and was was trying to say when you know one very clear quote in powell speech speech was where he notes that there are no recent precedents to guide any policy response to the current <hes> situation he's referring to the the uncertainty and volatility in the trade situation and how that that is a drag on the economy is creating enormous uncertainty for not just for investors offers.
"chairman" Discussed on Left, Right & Center
"About. There have been these public comments events about you know maybe a cut in payroll taxes and the president keeps changing his mind about whether that's something he's interested in or not <hes> other ideas. The post says have been floated inside. The white house are further reduction. The corporate income tax rate to fifteen percent of the tax law from from the end of two thousand seventeen cut that rate from thirty five down to twenty one. They've been talking about somehow having a rotating instructor for board members on the federal reserve so that they wouldn't <hes> all get to vote on rates every time which is not a thing the president can just do and i can think of some reasons why you wouldn't do that through legislation. They've been talking about a tax on currency transactions that would aim to weaken the u._s. dollar so it's sort of you know. It seems like the the white house perceives it. There's a problem here they. They're not even to the point of figuring out what kind of policies they want. Let alone a legislative strategy but a lot of these ideas especially the corporate tax rate cut. It's like they haven't. They haven't rocked the idea that there's a democratic majority in the house of representatives. It seems completely different from the policy conversation. She might have if you thought you know we might need a fiscal stimulus stimulus soon. What can we come up with an zone of agreement between democrats and republicans to get that done right exactly with respect to the corporate tax they clearly have not learned their lessons either either politically or with respect to policy. You know you just mentioned this. Josh we already saw a cut from the mid thirties to twenty one and while we've seen some kind of sugar high most of that money has been actually used to finance share buybacks. We haven't done anything real in corporate taxes which would include taking measures to bring some money money that is currently <hes> offshore back to the united states some some corporate tax revenues but i also wanted to add something further. Which is that a lot of the conversation number season right. Now in the media suggests that you know the economy's fundamentals are actually strong but it's both it's just trump's erratic international behavior and or the trade trade war driving these recession fears but i would argue that that's not quite right. The economic fundamentals seem strong but there's actually a lot of reason to worry. I mean growth is weaker than anyone on in either party might like second quarter growth plummeted to close to two percent. We would argue at the roosevelt institute. Did that's because of weak demand. <hes> you know average hours worked in manufacturing in july. Were at the lowest level since twenty eleven monopoly concentration is up business investment is down. There is a lot of reason to really worry about this economy and you're right josh that i think you could get a lot of bipartisan agreement on some kind of stimulus. I just don't think you're gonna see leadership on that. From this white house i mean rich to fleece point one problem with for the president going out there and talking about the need for policy property economy is that we just had this tax cut and one of the arguments the tax cut was supposed to be there was going to boost the economy and even even the sugar high that felicia references we got a a revision in statistics from the bureau of labor statistics which sounds like a walkie dolphin l. thing but basically knocking about thirty thousand jobs a month off job growth for the last couple of years so that's still shows significantly positive job growth but it no longer looks like job growth even necessarily got any better in the aftermath of the tax cut so if they're going to go back and say we have to cut taxes again. It's basically an admission that this thing we said would boost growth hasn't done anything for growth. I think a lot of the the tax cut at least the on personal side doesn't really have a big growth effect..
"chairman" Discussed on Left, Right & Center
"And you know the the conundrum for <hes> <hes> spokespeople at the white house at treasury in even the fed is to not <hes> you know inspire <hes> market participants to pull back in and not make economic decisions because you could could be self-fulfilling so i've bhai sympathies with having to answer the question of you know do you are you concerned about a recession coming and if <hes> if the white house answers that question of course we're concerned about a recession and we're we're paying attention to it. That's the headline all across the country if not the world and <hes> if they say wh-what recession we're not you know there's no recession on the horizon then they just look aloof and they have a hard time making the case for maybe the kinds of policy changes they would need to try to mitigate <hes> an economic downturn. So what should they be proposing to do right now. I mean you have the president <hes> out there. Just on friday escalating the trade war china announced new tariffs. The president said that he would be announcing a response to it. He said he's ordering u._s. Companies to find alternatives to china china. The market fell hundreds of points on that statement from the president. It seems like the one policy area most directly in his control is trade policy <hes> where the signals from the the market or negative and the comments from fed chairman jay powell or that the global trading situation is a drag on the economy <hes>. It seems like he would start there. It is the trade is the is the one area where he can make a have a real policy impact and you know he's he's taken to mostly job owning the fed into being looser on <hes> on on <hes> monetary policy although we should put this in historical perspective the fed has been you know the the interest rates are incredibly low. <hes> historically really speaking they still are accommodative relatively relative to where the economy is right now <hes> but he'd like to see more action from <hes> from the fed <hes> <hes> it is entirely in his hands to do more on the trade front in fact actually even just encouraging words. We've seen over the past few months if he indicates a a <hes> <hes> a softening with <hes> with the chinese or the willingness to meet and talk the market reacts in a very positive way so it is very much in his hands to to do that <hes> and to come to some kind of process movement with <hes> with the chinese i think would be very welcome by <hes> by <hes> financial markets and businesses also who have been holding back investment decisions the other thing is you can do actually other policy changes can propose policies <hes>. He's tried to do some of that in the past last week but it's clearly these are clearly things that have not been very well thought out things like the payroll tax or indexing capital gains <hes> they're very long legislative trains on on those possibilities and it's congress's probably not <hes> in a mind to move tax legislation right now. The one great great irony in this of course is that before the midterm elections. The president announced that we know it wasn't really true at the time but he announced that they were working on a ten percent tax cuts. If if they had actually been working on a ten percent middle class tax cut as he as he announced they might have something ready to go right now that they could <hes> that they could move forward but that's sort of evaporated raided yeah felicia to tony's point about sort of half baked policy brainstorming in the white house the the the washington post had an interesting story this week about what they're talking about..
"chairman" Discussed on Left, Right & Center
"They've had this this group that was going to bring the omar and retreated to leave on that trip to to the west bank. <hes> isn't this isn't that something that we're now seeing on the republican side as well as the president buys into a lot of these things things that you're really not supposed to think or say i think our guest characterize him as kind of filo semitic stereotypes so they're not meant maliciously but if you follow follow the the string down they take you to a bad place and first of all obviously president should not be talking about in these terms about anyone any group in any circumstance and and it was just his way of saying the democrat party is swinging the wrong way on these issues that toledo in omar away out there which they are but he put it in a disturbing terms fleischer. Well you know i think he's also trying to the president is also trying to use this as a wedge issue. You and i think it's fundamentally misguided. I mean the idea that american jews don't have a range of interest in addition to israel climate may many any jews i know are concerned about rising white nationalism anti-semitism so the whole effort seems ludicrous and i'd also point out that american jews voted seventy one percent for hillary rick linton and in the midterms that number went up almost ten points. It was closer to eighty percent so if what trump thinks he's doing here is trying to peel off jewish voters. I think it's going to be really tough sledding. It reminds me of the way the president talks about black voters which is to say it's it's making a judgment about what a particular voter group ought to care about ought to vote on when he talked about black voters was he goes out and talks about you. Know unemployment is so low at so low for african americans. I've done all these things for you. You should support me because of that or i brought a sap rocky back from sweden aiden and at least the implications you should vote for me because of that similarly..
"chairman" Discussed on Left, Right & Center
"This is josh barrow and welcome to left right and center. You're civilized yet. Provocative antidote to the self contained opinion bubbles that dominate political debate. It's still august and it's probably going to be august forever this week. The president was told he can't buy greenland. The danish prime minister called the idea absurd and the president got mad and cancelled a state visit to denmark because because he thought it was so disrespectful of her to say that his idea to bipartisan country was absurd. Trump is still heading to europe though for the g seven meeting of leaders of industrialized nations and he doesn't get along great with those people either. There had been an effort to keep the most controversial topics off the agenda. They're not even going to produce a communique at the end of the conference saying what they agree on but now french president has an annual mccoll says he wants to at least talk about the damaging fires in the brazilian amazon as a key focus which means the president will again be fighting with foreign leaders over climate change later in today's show will discuss that and also the disjointed white house response to increasing concerns over the state of the global economy. President trump said on twitter on friday. He wants to know who's the bigger enemy chairman she she or german powell yikes former bush administration economic spokesman tony fratto will help us walk through those stories in a bit but now let's bring in our left right and center panel as always <music>. I'm your center and i'm joined by rich lowry editor of national review on the right and on the left felicia wong president and ceo of the roosevelt institute. Hello i dash josh rich. What what have you been watching this week. Well the numbers of democrats supporting an impeachment inquiry is steadily taking up has passed the halfway mark. I always a pre. I think prediction. The beginning of the year is that democrats crab walk their way into impeachment. This would be consistent with that but i think the pace is too slow. Oh <hes> at at this rate though impeach him you know and in july of twenty twenty and unless there's a real damn break and that you pass them event horizon. We're just i all democrats say okay. We're going to do this and most importantly nancy. Pelosi says we're gonna do this. I think it's a drip drip probably lean to nowhere felicia..
"chairman" Discussed on GeekWire - Geared Up
"To pivot because uber threatened our advertisers and we saw very clearly there there was just road kill killing our future if we did not go directly to our users because as we were torn between the giants of the tech community who are paying our bills and the everyday people who are reading our site and we had to align it and we had to make our readers our customers same thing with chairman mom it was such a clear beautiful business model once we got there and it was just clean and simple and you just don't have this conflict but one of those amazing things i learned my the chairman of my board andrew anchor at pando who was amazing for the first year after our pivot kept saying to me you're still thinking like you're running an ad based business you're still thinking and i was like no i'm not you don't understand what i'm saying he's like you keep thinking you need to do more of all you knew more articles new do and i'm like yeah because people are paying for us now we have to give them more and he's like that's not how subscription works he's like think about netflix do you need to like every original they produce or do you need to find one or two shows that you like and that justifies the cost and it was like when he explained it like that it was like a light bulb went off over my head i mean i don't even know of hulu offers anything other than the handmaid's tale because that is the only reason i paid for it and once we watch this season finale we will not go back to again until the handmaid's tale is back and yet we're thrilled to pay for it every day and that is subscription and we notice this with pando the more we cut down our volume and went deeper and deeper and deeper on stories the higher retention got the more people wanted to pay for it because all they care about is those two to three stories a month that really matter and when you think about it in terms of value that's where the shift is we don't need women to come to chairman mom constantly we need to give them five dollars a month the value so how do you measure that value i'm curious both at pando and at chairman mom i mean churn is the best way like when you're talking about subscription based businesses.
"chairman" Discussed on WNYC 93.9 FM
"The chairman yours the way from three di this does not either oh five that's not the core i am you lava yeah day in the it is the that he dowd you you yes he we why is that ooh two the the aaa guy he is hear that ooh cannot yes nets.