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

Bloomberg Daybreak

01:56 min | 3 years ago

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

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

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