35 Burst results for "Christine Lagarde"
Global shares mostly up on optimism for stimulus from Biden
"The idea of a big US stimulus under Biden has boosted global stocks to record highs. US. Equity markets hit record highs yesterday. The U. S stock 600 is up 7/10 of 1% of the start of European trading. The Xetra Dax equally gaining 5100 up by Half of 1% We watching the Bloomberg daughter spot Index because that optimism about stimulus dragging down the dollar weaken 1/10 of 1%. The pound is stronger 3/10 of 1% surprisingly resilient perhaps the main one. Spot. 37 is the cable rate of the Europe 1 21 22 will be in the eyes off the E. C. B as we have Christine Lagarde and her team meeting today. As for bond markets this morning US years to one spot 08%, Germany is it negative 53 basis points and Italian BTP is dropping two basis points
E.U. Reaches Deal on Major Budget and Stimulus Package
"Union leaders, then in terms of what they have been doing at the EU summit. They approved a $2.2 trillion budget. This is the Polish Prime minister. Matteo is more of a hockey We fight for our rights. We fight for clarity. We fight for certainty or flaw. And we fight. For the treaty so that they are not circumvented by the secondary loft. So there was that trillion dollar budget and stimulus package approved, ending the dispute with Hungary and Poland. So the British prime minister there Mater mottos model Dickie Scuse me losing my voice this fight and for a bit, But let's struggle on men. Shall we on bring you the latest in terms off the EC be stepping up its campaign to shield the single market. From a possible double dip recession at a new stimulus but saying that it may not deploy all its firepower. Christine Lagarde, speaking yesterday if favorable financing conditions can be maintained with acid purchase flows that Do not exhaust the envelope over the net purchase horizon of the Pep The envelope need not be used in full. So
Europe gets new blast of stimulus to counter virus surge
"The European central bank is on the east another six hundred billion dollars as a stimulus to counteract the negative effects of crime virus some pre Christmas sales went to such an infection shut down large parts of the European economy ahead of the region's most important holiday ECB president Christine Lagarde said something was needed to help certain sectors of the economy in the manufacturing sector continues to hold up well services activity is being severely curbed by the increase in infection rates the new restrictions on social interaction and mobile the twenty five member governing council decided to increase its bond purchase stimulus to two point two trillion dollars the bond purchases help keep credits affordable and available across the economy for consumers businesses and governments I'm Karen Thomas
"christine lagarde" Discussed on 10 10 WINS
"Shop, you save the full details on the example policy. It's electro dot com slash commercials. Your premium could vary depending on your health issue in company and other factors not available in all states. 10 Win. Zach you other ex surgeon four day forecast here is Meteorologist Brian Thompson sky right now, Laurie is mostly clear, but so we will see clouds back on the increases we get into tonight so low down to 32 in the city will get down into the twenties. In both suburbs. Those clouds in advance of a fast moving disturbances going to slide through during the day. Tomorrow. We'll start off with a good deal of clouds, and those clouds will likely stick with us through the day. It's sort of the late morning in mid day hours of keeping an eye out for some flurries, even a heavier snow shower. There could be some slick spots, mainly northwest of the city, and it will dry it out again. Late in the day. A high of 39 Partly cloudy tomorrow night low 35 Thursday and Friday look really nice for a December days fair about a sunshine Quite a bit milder highs will be near 50 both days and Saturday. I might even be flirting with the upper fifties, even not far from 60. There will be more clouds. We will likely we'll see some rain for a time during the afternoon and especially into Saturday night. Some of that rain could even linger into Sunday 35 degrees and clear right now that sound we're going down to 30 to evacuate the meteorologist Brian Thompson on New York's weather Station. 10 10 wins Wins news time. 5 54 the year and power lists are rolling in, and Forbes has named its most powerful women in the world for the 10th consecutive year. German Chancellor Angela Burkle takes the number one spot. Christine Lagarde, president of the European Central Bank, maintains her number two slot new to the top three. Vice president elect Kamila Harris. House Speaker Nancy Pelosi is number seven Oprah Winfrey checks in IT number 20.
European Central Bank head: Ready to add stimulus if needed
"CCB President Christine Lagarde says the European Central Bank is ready to deploy more monetary stimulus to aid the recovery if needed, as the pandemic damps prospects for the economy. Addressing European lawmakers today. Lagarde called the recovery across the 19 nation eurozone uncertain and in complete with consumers cautions cautious to spend and companies reluctant to
ECB addresses stronger euro, says it will ‘carefully monitor’ exchange rate
"Currency traders are preparing for a key meeting at the which has seen the euro appreciate heavily over the past few months especially after the Fed signaled a willingness to allow inflation to overshoot its target. The dovish stance which gives more weight to the labor market and less weight to inflation has added to the downward pressure on the US dollar and the E CB's Christine Lagarde is expected to talk down the euro as much as she can normally a central bank would cut interest rates to deal with this kind of situation but rates are already deeply negative across the eurozone instead the May stress that the one point thirty, five, trillion, euro envelope of the P P P pandemic emergency purchase program is not a ceiling and that it is prepared to increase its pace and size.
"christine lagarde" Discussed on Bloomberg Radio New York
"With a bigger than expected increase in its bond buying program ECB will expand purchases by an extra six hundred billion euros to a total of one point three trillion thirty to at least June next year tell your bonds rallied on the news of the year reversed losses Christine Lagarde says simply action has to be taken applications for US unemployment aid rose again last week a slight slowdown in numbers by showing the economy is still being hammered by the virus shut down national jobless claims fell below two million for the first time since mid March the data suggesting continuing claims peaked early last month separating show US trade in goods and services plunged in April to their lowest in a decade and fears are growing that the UK will crash out of the European Union at the end of the year with no trade deal sources say the two sides remain far apart on crucial issues with a deadline for agreement looming at the end of this month final negotiations on current talks are set for later Friday UK prime minister Boris Johnson and Iain commission had Ursula von Irland are due to hold talks later this month Myanmar says it will hold general elections later this year confirming expectations for a vote before the end of twenty twenty uncensored she's National League for democracy's scored a landslide victory in the last election in twenty fifteen as Myanmar version five decades of military rule however allegations of genocide over the treatment of Rohingya minorities have overshadowed her administration Tokyo reports twenty eight new coronavirus cases the fourth day in a row of noon double digit infections that is a hundred twenty eight new cases in the past week now the biggest seven day rise since mid may Singapore is warning of an urgent challenge from Covent nineteen over the coming months with sweeping job losses on the horizon Malaysia has recorded its biggest daily rise in new virus cases since the pandemic first around at I'm going to.
ECB set to expand bond-buying to soak up debt
"Let's get an update now on some of the day's business stories with you in pots from Bloomberg you and welcome back to monocle twenty four the European Central. Bank is expected to take more action tomorrow, and they'll be new coronavirus virus measures from Christine Lagarde. And hopes of a swift recovery will be downplayed. Yes, of course, the issue be one of the world's central banks, which took very rapid action back in March to counter some of the terrible economic effects. We're seeing from the current arsenal around from the measures taken to counter the current of ours. They announced the pandemic emergency purchase, program or pet. Back in March which involved seven hundred and fifty billion euros of the bond buying? The idea that the central bank step into by that and keeping rates low, the government's the companies and also for Boris with mortgages, etc, that going until at least June twenty twenty one but the expectation. In the market is, the will be more announced tomorrow. Columnists seem pretty certain. ATP will wait in with more stimulus smart at its current pace, it could wait until it's July or September meeting before judging the programs big enough to soak up over debt, being issued by governments defy the recession, and of course there is a lot of depth baby shoot. At the moment since last meeting, we've heard from the European Union moving closer towards a Common Fiscal Response the commission saying he wanted to spend seven hundred fifty billion euros with its Recovery Fund, but as to the tomorrow reckon we'll get at least another two hundred fifty billion dollars of stimulus taking the program to at least not one trillion euros at so tell us a little bit more about economic picture around Europe given the fact that this huge amount of stimulus is needed unlikely. Yes I told him this morning. We're going to get the pay date. So the coaching index is the most timely economic survey we have. We get the figures the May This morning. I'm about nine o'clock, and we're expecting that number to jump to thirty point five. Not just explain what that means. Fifty is the guy is the between expansion and contraction iron, fifty expansion, obviously no economies and you're spending at a moment in April that was thirteen point six. The lowest reading with ever seen toback think in May will jump to about thirty, so that's a lot better than April's reading but he's still pretty terrible. It's actually puts us back in line. Awfully what we saw in March when economies shrank pretty badly around European Union still. About the shape of the recovery. In the beginning or passing my have a v-shaped recovery with the economy bouncing back very quickly. Not many people think that any more more likely will get You even less missing. l-shaped recovery or Nike swoosh or some other recovery which is uncertain and quite wobbly over the rest. Of this year, but it's a little bit of optimism. Coming back into commerce forecasts in the past couple of weeks, I'm certainly markets. Very Optimistic Sense Gotcha will be enough to rescue. The flailing economies around the world
ECB President's horror eurozone prediction: EU risk crisis not seen in UK for a century
"The head of the European central bank has warned that the corona virus pandemic has cools the eurozone economy to shrink to rates never seen before Christine Lagarde told reporters it could contract by as much as twelve percent this year we are facing an economic contraction of the magnitude and speed that is unprecedented in recent history in our area entire sectors of the economy to a large extent was simply shut down and it will continue to be reflected the hard numbers are just beginning to calm preliminary figures have already shown he you economic growth falling at a rate of more than three percent in the first quarter of twenty twenty when lockdown measures that only recently begun
Eurozone economy suffers record contraction, steeper than U.S.
"Like the US the economy of the nineteen eurozone countries contracted sharply in the first quarter of the year as the corona virus began to spread here's NPR's rob Schmitz measures to contain the corona virus pandemic froze business and household activity throughout the continent in the first quarter spring eurozone's economy to decline by three point eight percent compared to last quarter this is the largest economic decline since nineteen ninety five the head of the European central bank Christine Lagarde warned you leaders last week that the eurozone GDP could fall fifteen percent by the end of the
ECB to Judge If Trillion-Euro Stimulus Is Enough
"Despite today's data showing the damage corona virus has done to the euro-zone economy in the first quarter European shares. Are Little changed now. The focus turns to the European Central Bank. It's so far pledged more than one trillion dollars in support but chief Christine Lagarde has said there are no limits to the tools the e C could use to fight the crisis. I N G is Karston. Bresca explains when more measures could be deployed. I think they'll have to announce something soon not necessarily today. 'cause we now have two six extremely exciting week since the last meeting with lots of announcements new. Q. E. The pandemic emergency program and I think right now is the moment to take stock and then wait until the June meeting will also bring the latest around a forecast and to that point second quarter data could arguably be worse than the first quarter data. We're seeing today. The has been crystal clear that government support through fiscal spending measures needs to be bolstered. Ten governments do more. Governments can definitely do more. Interest rates are extremely low. There is lots of loans being made available for for governments. They are territories in the north. East we can still do something. Warmness is to to calm. Financial markets and the other one is to provide ample liquidity into the banking sector. That banks are able and willing to provide them nose to the read economy. Well no the latest. Ecb policy decision at seven forty. Five eastern time I N G chief economist Karston Brodsky. Thanks so much for your time. You're welcome well. As officials work to combat the economic impact of covert nineteen hopes arising here in the UK for Corona virus vaccine to prevent more people from getting sick pharmaceutical giant. Astrazeneca has signed a deal with Oxford University to produce and distribute a drug as the BBC's Stephen Ryan reports. The vaccine is still in the early development and testing stages and there's no guarantee but the UK's Health Secretary Matt. Hancock said today the new agreement between Oxford and AstraZeneca gives the UK the best chance of a breakthrough to defeat this corona virus. Several hundred people have so far taking part in clinical trials at Oxford University. But Sir John Bell a professor of Medicine says scaling up so enough doses can be manufactured. Has Its challenges the vials that you put the vaccine in. There's only two hundred million dollars left in the world now because they've all been sucked up by various people who can anticipate a vaccine coming along so so there's lots of challenges in getting this to work
European Central Bank says it will buy 750 billion euros in securities this year to counter effects of virus outbreak
"Meanwhile the European central bank has launched an emergency bond buying programme worth seven hundred fifty billion year is at present Christine Lagarde says quite extraordinary times require extraordinary action adding there are no limits to the ECB's commitment to the euro the central bank is also considering basing itself impose security
"christine lagarde" Discussed on Bloomberg Radio New York
"Relief would need to be approved by lawmakers who break for recess after tomorrow's session Henrietta trays is director of economic policy advisor partners I've been speaking with staff and the answer that I've gotten from leadership in the house is that they're getting calls from members saying it we don't want to be flying right now we don't want to be in a very populating crowded halls of Congress any legislation will be weeks if not months away meantime in the UK the bank of England is taking action to stem the fallout from the corona virus the central bank issued an emergency rate cut lowering its benchmark by fifty basis points we get more from Bloomberg FX and rates strategist Richard Jones it's the aggressiveness of the cut that I think really catches the eye going into this we had about thirty five to forty basis points price in the market so this is definitely on the high end of expectations so it does feel like this is a little bit more reactive than proactive I think it probably would've been more effective if you had central banks acting in concert last week when the fed moved and European central bank issues a policy decision tomorrow and Bloomberg news has learned the central bank is looking at all of its tools to combat the virus we're told president Christine Lagarde held a news held a conference call with the E. U. leaders yesterday saying the the outbreak risks a shock to the region similar to the financial crisis a person familiar with the call said the guard will take steps to stem the fallout as soon as tomorrow right now S. and P. futures are down sixty five points Dow futures down five hundred ten at nasdaq futures down a hundred seventy seven the dax in Germany is up one and a quarter percent CAC in Paris of one point one percent of the footsie one hundred up half percent ten year treasury up one the yield point six nine percent the yield on the.
European Central Bank keeps interest rates, stimulus programs on hold, launches review of strategy
"Yes the ECB is announcing its first appraisal of its inflation goal since two thousand three leaving its main refinancing rate unchanged at zero percent this is largely or completely expected leave the deposit facility rate unchanged also negative zero point five percent they say that the C. B. says that it sees a rates are present or low levels until inflation goal it gets nearer meanwhile we're seeing means inflation expectations over the next five to ten years covering a one point three percent versus more close to two percent as it is saying also the easy be announcing its first to teach a review of policy since two thousand three widely expected given the fact they have a reprieve they have an opening you have a manufacturing data coming in a little bit more solid so they can actually take this time to take a step back also we are expecting the inflation goal perhaps to change a little bit in its guidance from where it is right now in markets you're not seeing much of a response basically the euro out little changed versus the dollar I just a little bit weaker versus the dollar two year yields basically flat but really the key thing John and Tom as you were saying is really Christine Lagarde and what she has to say in this press conference whether she'll talk about possibly buying green lawns for the ECB's balance sheet whether she'll talk about how they plan to add the ammunition if inflation does not meet their goals as well as just the outlook going forward again not much of a change but we are going to hear a lot more when Christine Lagarde gets to the
Peloton Actor Monica Ruiz Responds to Ad Controversy
"E. cigarettes the original band was challenged in court or the hold up could take it past its original expiration date the panel could also vote today on a plan to ban men fall E. cigarettes a judge in Texas must the side of a ten month old baby will be kept alive with machines or be allowed to die James Lee Lewis was born ten months ago with an untreatable heart defect she then develop lung disease and severe high blood pressure after several major surgeries her doctors at cook children's hospital in fort worth see that not only is further treatment feudal the methods used to keep her alive for adding to her suffering the hospital wants to shut off the machines that allow tensely to die her family wants more time to find another medical facility lance correspondent Jim Ryan Forbes magazine is out with its list of the world's most powerful women house speaker Nancy Pelosi is not number one but she's not far back she trails number two Christine Lagarde president of the European central bank
Trump Warns Trade Talks With China May Last Past 2020 Election
"A let's talk a bit about trade in the markets this morning so I've been twenty four hours president Donald Trump is issue to series of trade threats on three continents it's a reminder to financial markets that the president is comfortable heading into an election year using tariffs as his main source of international economic leverage but as our next guest points out without a trade truce and a US China trade deal the global economy is headed for recession will joining us now is in the test saw who is director of research at wisdom tree very good morning to the test that is not the sort of base case for most the the global economy goes into recession next year but it is for you is that right whoa oh base case is that we could could get some trade deal done because of the presidential election but to yesterday's comments and comments we frequently heard of last few months personal risk on to that so we think that the risk of going into a recession is very high and and we believe that we were started slipping into recession we can see that international trade has slipped considerably global patch the minis indices while they may have patted the little last couple of months but they've been heading south in the below the fifty marker of Dimock demarcation between the construction and expansion so we think that you know do the comments made yesterday and and and and in the months before really increase the risk of recession by many fold is it also part of the mold of the global tariff issue because it's not just China those Atari problem with Donald Trump is threatening massive tariffs on France but also because the Harris on Brazil and Argentina I mean it seems to be among the many fronts this trade worn is that part of the engine which is driving what you're talking about absolutely so you know it started off with primarily a US China trade will but if the reason the success in in trump actually of protecting the did you S. from Chinese imports than that blueprint will be deployed elsewhere we've seen a lot of that this week the terrorists on metals from Argentina Brazil because he's unhappy with their currency policies is hope trump tools and hot I'm happy with the tax policies it in in the on the side of it every year end within days within Europe and he may you that increase terrorists here as well so this punitive tariffs applied relive the place ain't on top of sanctions will re knows our players he wrong in Venezuela so they did the number of protectionist policies or increasing by many fold yeah so protectionism is a is a significant concern but did you think the markets have been there for much too complacent overseas becoming now increasingly difficult actually to price trade war especially when he sees you to becoming so widespread possibly so the impact of these trade wars has probably been a manufacturing so many factions being weak globally but the consumer in the labor market been holding up pretty well and on a global basis not just in the US but in Europe as well but that may not last forever as you know that there will come a point where a slowdown in manufacturing could bleed into the rest of the economy if if the presidential election is will the way to the back end of twenty twenty even if there is a last minute Catholics to get something done it may happen too late and that's why I think the risk of a global recession is pretty high at this point what about the European aspect of that because of the low to focus on to the German dates of French staters well and Italian a sense that we need some sure really where this is moving in European terms we have a new head of the C. B. of course is trying to move towards a whole review of that policy in trying to keep things together what's your take on Europe going into twenty twenty yes I think it you your pet will be a particular interesting area because we will return to we know that interest rates or negative in Europe so the ECB's policy space is very limited we have to think a lot more you know creatively in terms of what he does for a in terms of reaching into his toolbox we know the quantitative easing when deployed previously had been criticized heavily for you know being a set price re re re face rather than goods and service press refresh rate so I think could easily be will respond to some of those criticisms at the same time the European Commission is under new leadership as well and DC be under new leadership of the Christine Lagarde who is a politically astute leader I think that that they'll be a time for creative thinking and that could involve money tree in fiscal institutions becoming closer together even in Germany which is being very very against you know anything beyond interest rate policy you know we are seeing political change there as well the eight SPD are pushing for towards abolishing the zero black policy of balanced budgets if we start seeing that those cogs move we could start to see the ECB and Los number fiscal stations across Europe becoming closer together yeah me seventy seven is dedicated in the pipeline at least if not longer so you yeah we'll have to see but you're a fun as Mrs also meeting today to discuss kind of reforming the year every year and and the banking unit of but it just also want to get your take on a pet because thought it was a pop the more immediate issue folk markets and we've had already put mixed signals about whether we get a get further cuts to output say if Iraq's oil minister speaking saying that they would want to diesel cut of four hundred thousand barrels per day to offset slowing Dimond I mean a lot of other say that does not seem likely that sent out live voice you've taken it is yes Sir it's good it's clear that the opac at least need to extend current cuts that that's a baseline to wed at least to the middle of next year until they have the next policy meeting so I think the okay to keep the policy taking over by sort of mid policy even media policy meetings but beyond that I think the reason a strong incentive to cut even further because we'll prices all extremely weak at this point in time and they're not working knowledge in some of the geopolitical risks but that not seen as something that okay call really could control but the it's hard to for these OPEC countries to expand their topics into it in into the oil fields in an environment of low we call prices one of the top of that Saudi Arabia is just about to float it's a it's a another company a Saudi Aramco and it needs a stronger role of prices for the food to meet its valuations I know he's already notes down these valuations of two one point five two will play seven trillion away from to treat him before but is we embarrassing to go for something even lower than that so Saudi Arabia as a de facto head of OPEC will be pushing all members for deeper cuts alright miss ash thanks very much indignities show the director of research and
Lagarde calls for 'new European policy mix' and ECB strategic review
"Because Christine Lagarde just gave her first policy speech as president of the ECB does come light on policy to be honest but she didn't seem to be giving us her interpretation of Mario Draghi in terms of asking for the European governments to help her with a bit of a new policy mix and she said she's going to conduct a strategic review of monetary policy in what appears to be in attempts to heal the wounds that divided the central bank in the last few months of Mario druggies ten years so very
"christine lagarde" Discussed on AP News
"Like New York New Jersey and California who can only deduct ten thousand dollars now of their property taxes on their federal returns the new cap was part of president trump's tax overhaul in twenty seventeen Senate Majority Leader Mitch McConnell says if the so called soft cap had been repealed it would have given millionaires an average tax cut of sixty thousand dollars while the middle class would only get about ten dollars in relief Jackie Quinn Washington European central bank chief Mario Draghi who's found to do what ever it takes is seen as a turning point in the eurozone's debt crisis presided over his last policy meeting Thursday facing unusually strong opposition to the latest MLS package the banks twenty five member governing council made no changes in interest rates all the banks bond purchase stimulus after announcing an array of measures September twelfth the bank said he was keeping the rate on overnight deposits from banks at minus point five percent that rate was trimmed from minus point four percent in September when the ECB also announced it would restart its bond buying stimulus program purchasing twenty billion euros per month starting November first Thursday's meeting is last as president for druggie whose handing it over to former International Monetary Fund had Christine Lagarde on November the first it was close through six but then the nationals broke out to dominate the Astros them take a two nothing lead in the World Series AP's mark Byers has look at game two from Houston nationals are halfway to their first World Series title after robbing the Astros in game two twelve to three Kurt Suzuki homered off Justin Verlander leading off the sermon I came over last time a veritable of like that it felt great for like months ago so probably was months ago so feel great I think it was just just the fact that you know just to help the team out anyway I can that broke a two all tie and ignited a rally that would see Washington scores six times in the inning Stephen Strasburg gave up a two run Homer to Alex Bregman than the first then put up zeroes the next five innings Strasbourg France seven in the wind the knobs are running high with eight straight postseason victories mark Myers Houston California wildfires I'm to acquire than a P. news been a cruiser working faster growing wild fires just north of Los Angeles some forty thousand people getting evacuation orders to get out of the way of the wind driven places that have already burned several homes since spending up earlier today people in northern California are also anxious just gonna be a long day thousands of evacuated homes and businesses in wine country from a blaze is going to cover some fifteen square miles and includes everyone and guys are ville ordered out of town South Carolina Republican senator Lindsey Graham is introducing a resolution condemning the house for pursuing what he calls a closed door illegitimate impeachment in query if you believe you have a case against the president AP digital news back in a moment thank you for listening to the AP radio network Hey did you.
Japan exports fall for 10th straight month in September
"We did have some dismal export data out of both South Korea and Japan earlier this morning is our two economies firmly caught in the U. S. China trade for cross hairs south Korea's exports during the first twenty days of this month falling twenty percent manis from year earlier Japan's exports for all of September drop for a tenth straight month by five point two percent does not bolster Christine Lagarde assertion that trumps trade policies have debt it damage the world economy that's what we'll be discussing later on in the show only mountainous absolutely and if we are fed back of what mark Carney said to Francine a in this state somebody the I'm and we are in a precarious position I was built up over a number all for months
Incoming ECB President Lagarde: Trade tensions biggest threat to global economy
"Christine Lagarde set to take over as the European central bank had in November and. is she going to be pressured to deliver more stimulus says Europe sort of teeters on the brink of what appears to be Dave a major recession. yeah I think you're right on your Christine Lagarde is the new ECB president taking over for Mario Draghi she was the I MF president and she's a very sophisticated smart lady who is qualified but think about the job the cheese inheriting sixteen trillion dollars of negative yield so you know if you're in Germany or Italy or other places they're literally pain you to take out money trillions of dollars in there is no evidence at all that this has worked so as you said will there have to be more stimulus and what does that mean in why do we care here in the United States a big reason why that we how are have been lower yields here in the United States is because of pressure from overseas their negative yields are forcing down our yields in fortune are fed president to lower yields and so what is she what is she going to do it's it's really a tough a conundrum because you think about hotel California here are you once you get into negative yields how do you get out and you saw what happened here in the United States just a couple of ticks up last year and we had a meltdown in the fourth quarter it's going to be difficult to move forward well this is the thing it's very obvious to everyone who watches such things that negative yields simply aren't sustainable in the long term but in the short term it almost seems as though Europe needs this sort of stimulus so how does Lagarde kind of find a happy medium to keep the European economy afloat especially since it's going to be a rock no matter what because we're we're staring at the the barrel of the gun of hard brags it I just saw Nigel Farage come out and said that the biggest thing he the biggest mistake you ever made was trusting elites in his country to get something that they promised to the voters actually done but he says come hell or high water Europe Bob Great Britain I should say will be out of the E. U. this is obviously going to have an impact he has one one set up for. this question Davis is what's the next move for Lagarde what's the first move really one of the first movies yeah she has nineteen different governments that she has to get the plate nice together I mean that that's really the hard part she's gonna have to get team work across nineteen a different governments and think about you know the Germans and the Italians and the French all trying to agree on site type some type of capital movement it will that's number one the second thing in in what's removed in maybe it's not monetary policy and you saw that happen here in the United States they said maybe the fed has done what they can do now it's time for fiscal stimulus and you saw when trump come in in in we saw a tax cut in some deregulation the market took off from here we'll have to see if maybe that's the movie and maybe it's not for monetary stimulus but its fiscal stimulus in I we are watching this very closely because of negative yields in over in Europe are driving down our yields Dan and I think that is going to continue and in the meantime we're seen C. E. O. confidence go down for a number of reasons including what senator Warren is talking about with more taxes in there's talk right now from C. E. O.'s Dan that if they want to get something done that
The Last ECB Meeting Under the Control Of Mario Draghi
"The ECB to start off with so we've got the last meeting meeting today under the control of Mario Draghi the ECB boss. That's been there during the financial crisis and he is likely because we're seeing Germany many probably tipping into recession other countries in the euro-zone slowing down considerably. He's going to start more monetary stimulus and political. I I mentioned hair because does he want to restart constitute easing where he's buying debt buying government debt in the markets to pull interest rates because that that the problem with that is lois borrowing costs for governments and that means governments are less less likely to reform their economies because it makes it takes the pressure off governments if they face nice very high borrowing costs. They have to be more in control of their budgets. If the borrowing costs rip down by the European Central Bank then go we don't care about budgets you could just spend loads of money which which is kind of the Italian attitude that so so the trouble with this is one. I'm not sure it's actually going to do much good. The official interest rates for banks is already already negative no point four percent if he cuts that further the Nazi just does damage to banks because it costs them therefore to have cash deposited the European Central Bank if he starts Qaeda as a whole Lotta people who don't like you and we're doing this right before his very last moment in the job before Christine Lagarde turns up to be head of the European Central Bank but what it tells us yet again and we've been talking about this for some time is at the world economic the growth is slowing and in some cases really quite rapidly so everyone says the UK how quickly it slates Brexit's or self. It's self imposed but actually ACA said we're doing better than Germany which looks like it's tipping into recession and I mean another issue. Surely got to be that as you say job. He's leaving at the end of October. People are going to not want to make long term commitments because that will tie Lagarde's Hans exactly and Christine Lagarde she she's not like she's stepping up to this job she was former head of the IMF International Monetary Fund so this is kind of a cross move for her and she must be thinking come on with Mario Draghi. Leave me something to do
Latest from the Stock Market
"I'm Melissa Leo Best Carter Worth Tim Seymour's Karen fighter men and guide dominated Tommy. The countdown is on its apple's big event tomorrow. Will it be enough to convince enthusiasts the world over to trade up in the middle of trade war also ahead activists investor. Elliott management taking a three billion dollar stake in at and T. A. Saying ix nay on the bank they see a sixty percents upside potential traitors take a second look and Boeing pausing using stress tests on its new triple. Seven after issue is discovered. We've got the details ahead. We begin with the Big Bang breakout on the day. The S. and P. Five hundred ended in the red checkout. He's he's moves from City Bank. America Wells Fargo David Morgan all firmly in the green for wait a minute. It was just a few days ago. The racer plunging yield curves inverting cats and dogs living together together and now look so the banks turned a big corner guy this desk by the way cats and dogs living together guy who's not sorry sorry who had a cat or a dog. I guess well how good question to answer on TV well. Let's go to the marketplace Sultana think they've turned the corner at all but what happened is everything got a little ahead of itself and it's not like we haven't talked about this. We're not saying this in a vacuum. Go back Tuesday. I think before Memorial Day we actually power-pitch some of the banks specifically it was city saying that you know what boring markets slow week into a holiday markets probably GONNA rally the toto's probably gotten and ahead of itself when city trades that discount to tangible book historically over the last couple of years. It's been a buy and that's pretty much what's happening. I mean I don't think again. The landscape has gotten better for the banks. Necessarily just the trading landscape in the short term has so the city have more room yeah probably overshoot seventy two like it undershot to sixty one but I think the the headwinds that they faced still exists today are some rays of sunshine based on what the CFO told the Barclay Financial Services Conference today that they expect growth in the back. AH The year that there are other parts of the business that can offset some of the losses or the softness in sort of the rate sensitive businesses so can you sort of extrapolate that some of the other brings thinking. Maybe things aren't as bad as people thought yeah I think I think that what the price they were trading at before. Two days ago really reflected a lot of things so I don't think I more that a lot of bed extra too much penalties there. I think if you think about where Citibank was trading you know well under ten times earnings a three percent yield. JP Morgan tend to change times earning a three and a half percent yield Bank of America under ten times earnings. I mean that's a lot about news priced in and their business models aren't all interest income right. There's a lot of other income in there as well so I think you know the market just saying Oh the whole book of Big Money Center banks is a giant two year tenure spread it must be going to zero didn't make sense. I'm not selling them here. I think they're still attracted. I'll actually question because we've had one kind of from a market position. Technicals Protective Talk and fundamentals. I'll talk to you the context of the overall market this this could you could make a comparison to the first quarter twenty sixteen when we're worried about global growth and banks essentially got through this period where once we got the sense that recession was off the table banks want on argue a very historic run for them relative to at least the cycle. Citibank's up thirteen percent eight days. It's up close to sixteen percent in sixteen days if you look at the X. L. F. It's basically kept pace with the SNP. Despite all of the things things that have happened to bank so the most important thing that happened today and I hate hyperbole may but I will tell you I think this is one of the most extraordinary trading days of the year that no one's talking about impressive was flat and yet you had banks three percent. You had expertise three and a half percent. You would transfer this is a major day for the march is not about the banks banks right. It's a behavioral thing. Is You look at the one hundred. What was the best performing stock the more beaten down. You were the better your slumber J. Lead. You Got Simon Property. You've got things like I mean in hindsight which is literally down eighty percent. Ge in the top ten so it's it's not a bank story although it is that's part of the story because they matter the most. It's simply dead. Cat bounces and dead cats do bounds but do they really come to life. No they're still dead heartbeat. It was more about deflation isn't as bad as you thought. I'm not going to tell you that deflation because I believe it's there's some stuff as leftover from the crisis but but deflation as it was exemplified and illustrated through bond yields around the world through gold going through the roof through everything else that was related to acid replacing going through the floor. The rally today are asset based their reflationary based and that's very exciting sites the retail these are retails that won't exist at some point in three five seven whether it's an urban outfitters. Tayo Ay and it's again it's it's it wasn't specific the banks the fact that it was craft. Ge tells you it was just an unwinding. If there's two sides here on this side of the desk extraordinary training day or just dead cats that's bouncing to make extraordinary trading day in terms of the move in yield terms everything he pointed out was extraordinary the context of what we've seen but I tend to sort of I I well. It should come as no surprise ten more with Carter Worth. I do think these are bounces within the framework of things that have just been oversold. I mean you mentioned Simon Properties. These go back and look where it bottomed out in April. Two Thousand Eighteen look where recently bought them at so you can understand the bounce slumber. J. has been left for dead. I mean we've talked about it. Seemingly for a year and a half trying at least I have tried to ascertain when the bottom would be unsuccessfully. We've seen moves like this before. This will be so again. I guess the fact that the SNP when he was unchanged today bowls could say what that someone constructive bears could say it should have been up twenty five handles on a day like today the other flipside of what happened today was growth oath at any price which had been where everyone wanted to go no matter what terrible complete reversal names like crowd strike or zoom right just absolutely getting annihilated highlighted today so you're just a rotation is just everything that didn't work now pile into that everything that did work time to bail but the question is exactly. I can't can't be in a crowd strikers in there too expensive. They're expensive. Yes two days ago even down ten percent too expensive for me. I think would momentum goes out. Those kind of names have were down to maybe more it's not. It's not terribly surprising that a crowd strike in company and their ilk are going down. Maybe on a daily today or just not rallying as much what's been interesting. Is that Koogle Amazon anything. That's been defensive relative momentum but actually you know they. They tend to be low momentum. Stocks in in difficult times in the market are under performing to Carter cares rights talk about. I don't know anything changed slumber J. in the last week in fact I think lenders as got some tough times ahead of them but when I look at some of the other parts of the market including the transports that are very real companies that are not going out of business that I don't think they're dead. Cat bounces. I'm not saying the world has gotten better in two days. I'm I'm telling you that it's always about positioning. It's always about where I think. The market momentum is we've got an ECB meeting coming up in a few days it's also going to I think help tell the tale of work. Global yields yields go because I think that the European Union is the one that was dragging global yields down and we know that the machines momentum is on both sides momentum down or some momentum up in if I go and when it flips. It's the you get these levers going on both sides but it doesn't usually last that long. At what point do you think I mean. Would you would take a lot of time and a lot more of this kind of thing. Because we saw the bouncing we saw in the certainly bouncing today. You just need in a lot more than I I agree cars. I don't think anything can you can't say suddenly it's it's all good for all these things that have underperformed for long time but for the last three weeks we've seen the DAX ax outperforming the machine emerging markets outperformed so This isn't a one day phenomenon today. It was a bit of an exclamation point on things that really suffer from deflation all right her neck. Scott says you may WanNa pump the brakes on the banks especially ahead of next week's. Fed Meeting joining us now. Steve chaperone equity strategists portfolio manager at Federated Investors Steve Great Great to see you again. so is it just the banks or is it all of these sectors that were dead cats bouncing Carter. I don't know if I'd do as far as the dead cat I. I'm somewhere in between I think Carter and Tim here and what I mean by that is it's very enticing when you look at the move in the banks today and you put it in the overall context then that context has rate rates bottom two weeks you go and have moved higher. The city surprise index bounced into positive territory week ago and value in general has moved up so there's an inclination to want US okay this is. This is the move in the value cyclicals that we've been waiting for. I think you need a little bit of confirmation on that. I think you need see what the Fed does in a week. I think they need to deliver against market expectations I think. ECB similarly has to at least provide some some delivering. I think this meeting is not as important as the one that comes in November when Christine lagarde takes over but move the ball forward and then I think you need the data that continue to come in strongly. If what we're talking about is a global reflation trade because the stimulus that's been put in the system helps the economy to move in the in the back half of the year. That's incredibly bullish and so I'm enticed by it but I'm not willing to kind of jump all in on it just yet so how are you. How are you positioned in the market right now. It sounds like like your you want to see how the data plays out. It sounds like you think I mean the federal probably cut twenty-five deliver on something that's sort of in the expected realm the the data is a little bit of a question mark at this point. So what do you do you think about the market right now is really a battle between the P and the right the P. should be higher. We've taken the discount outrage for stocks and we've cut it in half the only reason why the market isn't higher is because the market's concerned about recession and so they're worried about that e part so I think what it really comes comes down to is how our earnings gonNA come through and that's why trade matters. That's why Hong Kong brexit matters our view. Is that our base case. Scenarios earnings are going to be okay. They're going to be flat right to slightly up. You're going to get a revaluation higher because of those lower yields and that's where you play out over the next six to twelve months however over the course of the next month or so. I WANNA WANNA see how that goes. I want to see how the Fed goes. I WANNA see how earning season so when we were here earlier in the year we were eight percent overweight.
"christine lagarde" Discussed on PRI's The World
"Today on the world christine lagarde breaks down barriers the first woman to be finance minister in france the first woman to head the international monetary fund and now she's likely be the first woman had the european central bank all her past experiences shaped to christine lagarde is today she used to joke when she was fine on minnesota's synchronized swimming so the habit of good teams and smiling which it's very useful in sprint politically who's also an australian student went missing in north korea and reappears in china an it pro tennis player is find at wimbledon were not even trying so esa nothing monopoly that was just a small i'm marco werman those stories and more today here on the world i'm marco werman this is the world glad you could make here on this fourth of july there's this video from last week in which ivanka trump tried to join eight policy conversation between theresa may and i m f chief christine guard in the short clip look guard does not seem impressed known as a rock starve international find that she has a reputation for telling it like it is the guard is about the leave her post as the head of the international monetary fund and take over the top job but the european central bank from current president mario draghi christine lagarde will be the first woman to hold his position which oversees the euro euro zone monetary policy ben hall is europe editor of the financial times and he says he appointment was unexpected for a couple of reasons you note and economists perhaps more importantly she has no expertise in monetary policy and although you might be able to get away with it as a chief of the international monetary fund when you are central banker you have to take real time decisions and engage in real time debates with other central bankers so you really you need to have some technical expertise you're a previous presidents of the european central bank were heads of smaller central banks which is something the guard does not have on a reza may well that fact work against her will it might work again with them in particular who may think that she is not up to the level and therefore the dynamics within the european central bank may be different than the uptown now where mario draghi is it incredibly well respected central banker and has ridi commanded mounted also receive within the central bank although he of course is not a criticism so the question radiated whether she holds her arriving amongst other central bankers because of course there is some criticism within the european central bank of the roof is taken what what's the range of reaction you've heard on her nomination well i think he's absolutely being brutally very supportive the markets have i absolutely loved it there were a lot of heavy weight economists out there who think she'll be very good at the job because she should great politically operate saw an knows how to surround yourself with real experts but there are still other people who would say that they worry about a lack of technical expertise and they also worry about this broader trend all's form of politicians or non economists becoming central bank is worried that might dilute the idea of central bank independence the same with usa fat right way you jay powell who's a lawyer but eating j powers had a number of years on the federal reserve board of governors so that is something the first thing they got does not have before we continue on what the guard will mean as head of the european central bank let's take a bit into her background a lawyer by training and then goes headfirst and the economic realm starting with the post a french commerce minister and the government of dominik develop in two thousand five there's also this small interesting details you have the synchronized swimming for the french national team she's also a vegetarian and rarely drinks alcohol all that suggest some serious self discipline what does that tell us about her i think it does tell it tell she has serious a self discipline she used to joke when she was fine on minnesota's synchronized swimming so the habit of groping.
"christine lagarde" Discussed on Bloomberg Radio New York
"For him dot com slash eight a man convicted in a deadly car attack on a crowd of counter protesters at a gathering of white nationalist in Virginia is asking a federal court for mercy attorneys for James, Alex fields junior said in the sentencing memo that he does not deserve to spend the rest of his life in prison because of his young age traumatic childhood, and mental illness. Twenty two year old fields has previously pleaded guilty to twenty nine federal charges stemming from the unite the right rally in Charlottesville in two thousand seventeen prosecutors agreed not to seek the death penalty. One woman was killed and dozens were injured. Prosecutors say fields has shown no remorse for his crimes deserves a life sentence. Sentencing is June twenty eighth. I'm Bill Michaels death toll in the crash of a twin engine plane on Friday, and who he is now eleven plane flown by skydiving company crashed and burned at a coastal airfield on the island. No one on board survived. I'm Christopher cruise. And I'm Susanna Palmer from Bloomberg world headquarters. Politicians along with business leaders will be on hand for the unveiling of the first part of a long awaited Middle East peace plan this Tuesday in Bahrain, it's the plan that presidential son-in-law Jared Kushner has been working on Bloomberg has learned to Stephen Schwarzman chairman of Blackstone group. And Randal Stevenson, chairman of AT, and T are said to be planning to attend the rollout, as well as World Bank, president, David Malpass, and managing director Christine Lagarde, Iran, is that to break through a cap on its enriched uranium stockpile within days. This potentially pushes its conflict with the US into a dangerous new phase, the US abandoned the Iran, nuclear deal in may twenty eighteen and reimposed sanctions. President Donald Trump said yesterday hill, impose a major additional US penalties on Monday NASA scientists have discovered surprisingly, high amounts of methane gas on Mars that could indicate life on the red planet. Space agencies curiosity. Rover made the discovery Wednesday according to a report in the New York Times in an Email obtained by the times of project scientist for the mission said given the surprising result. A follow up experiment is in the works. The graying of America continues, the census bureau reports forty nine of fifty states have seen an uptick in older residents over the past year. Bloomberg's Vinny Del Giudice reports. More and more baby boomers are crossing the sixty five Mark and the birth rate is down the lowest in three decades. North Dakota was the only state to see a decline in its median age between twenty ten and twenty eighteen down to thirty five thirty seven the census bureau data also show, the median age for the entire US rose last year to just over thirty eight then he found shoot. I radio global news twenty four hours a day on air and at ticked tock on Twitter, powered by more than twenty.
"christine lagarde" Discussed on The Daily Show with Trevor Noah: Ears Edition
"So I think it's safe to say tomorrow's interview we'll be back at the drive. We'll be right back. I guess is the managing director of the International Monetary Fund. Please welcome Madam Christine Lagarde. Welcome to the show. Thank you. It is not often that I sit across people who have access to a trillion dollars. Is this a good time to ask for a loan for those who don't know what is the job of the IMF? Do you mind? Teeny tiny bit of history, of course. Okay. We just celebrated the second World War anniversary. Seventy fifth seventy five years ago. Right. We also have breaking seventy fifth anniversary as well. Does what happened at the time countries decided that fighting each other killing each other was probably, not the way to go because toll started with the body comic situation. So they thought rotten do that. Why don't we set up a club give it a lot of money and have competent people number one give some economic advice number to give some loans in case any member of the club is not doing so, well a number three ask them to give technical assistance. That's what we do. We try to help countries with better prosperity, and we try to help with financial stability, so that the world is not going in to buy the direction..
"christine lagarde" Discussed on Bloomberg Radio New York
"Markets, grow, I think that'll be something to watch something a monitoring, look, you know, the the regulatory environment has pushed more credit lending in that direction. And so that'll be something that I think we spent unfocussed so what's the better alternative that regulators pay closer attention to the shadow banking market, or they changed the rules to allow more of that credit to go back to regulate institutions like yours. I think I think it's I think it's a balance. I think I think that over time finding ways you have a better understanding and more transparency as those markets grow will be important for the construct of credit markets. And I'm sure you know, business business leaders are part of the business and regulators are thinking about those. Say that Solomon speaking to Bloomberg's Erik shots at the Milken institute global conference again underscores some of the expectations for the fed. We are looking at the FOMC this week at fresh Bloomberg piece on the terminal that you can read through talks about how the fed has a problem with its approach to inflation targeting. And it's been a theme and some of the conversations we've had on the program over the next few weeks. You've got a market. That's heating up is the fed is signaling stronghold in the period of growth, but the lower rates are driving investors towards higher risk assets. As well. I mean for decades central bankers have pursued price goals while saying financial stability risks are better croup by regulation. This inflation that is stuck is really puzzling. Quite a few policymakers Christine Lagarde who weighed in from the IMF overnight. What's coming up on the show? We're going to be talking about the or on what's happening in these markets. John. Rowe he said. Multi-asset at legal and general investment management..
"christine lagarde" Discussed on WNYC 93.9 FM
"Christine Lagarde emphasizes the need to move beyond the conventional wisdom and to void a backward-looking approach. My personal concern is that the next crisis comes from nowhere. In other words, from the place where we have no idea that it will come from from an area that we're regarded as safe and secure at the moment, but which will suddenly and under the radar screen for a period of time, suddenly plume and threaten the stability that we have and that is something which we care about. And we have a lot of. Vulnerabilities alert systems that bring our researchers and members of stuff together in order to try to see on this big economic and global landscape that we look at where something's coming out that is not going to be friendly to all of us. This is the reason Christine Lagarde explained to me what under her watch the funders initiated work in non traditional areas such as inequality gender and climate change. Mix stern was the driving force behind the stern report on climate change. He explains why climate change is now bankers business. The central bankers many of them all of them, but many of them in some of those in leading countries have recognized that climate change is a major potential source of economic and financial instability. If you're battered by storms and hurricanes that's economic instability on a major scale, and we we've seen these very dramatic facts who storms hurricanes causing major economic damage in different parts of the world, and what we've actually seen so far is small very small relative to what we risk for example, a bigger hurricane sandy that almost wreck New York in two thousand twelve cannot be ruled out with most financial centers near coasts, the expected ocean rise in greater storms will be severely destabilizing climate. Change should be a global priority for many reasons, but in the short term, in my view, a pandemic is the most likely cause of the next financial crisis and one that will woefully ill prepared for Peter Piot, the director of the London School of hygiene and Tropical Medicine discovery bowler. And is the leading global expert on pandemics. I asked him about the risks. They pose a condemn it could trigger a global recession. It all depends. How big it is, of course. And where it will hit, and we know that Spanish flu one hundred years ago, reduce global GDP by about five percent speed trillion in these days, we know that in Hong Kong a very short lived up south. Really hit the GDP by closest three percents, but it was also an increased by two hundred baseball in the country risk premium. So that's another problem. So according to the size of the epidemic. We are talking about damage in terms of trillions. Not in billions. The failure to think beyond finance is the first lesson that has yet to be learned the second is that management and regulations focused on what was happening within individual countries. While the bankers were operating system, which transcended national borders. In the UK the forced separation of investment in retail banks has addressed a number but not all the sources of risk. So Jon Vickers, a colleague at Oxford University chaired the independent commission on banking set up by the UK government following the crisis. I asked him whether this has made banking safer one reason why Britain had a particularly bad crisis was that we have these gigantic institutions doing ornery high-street banking, which we all depend on small businesses. Depend on day to day and all sorts of global investment banking, and they got into trouble on all those fronts, then the second heading was how to make the banks more resilient in the sense of being able to absorb losses. If for more likely when the next crisis hits we recommended a kind of separation called ring-fencing. So this is the idea that the ordinary high-street banking the retail banking current accounts overdrafts. Those core things which we all is individuals and small businesses depend on which a government. Can't let fall over without total calamity that those activities in major banks should be a self standing part of the Bank separated from the global investment banking commodities trading, derivatives exposures to other kinds of financial institution. And all those other things it shifts the dial it increases the odds that you wouldn't imperil domestic banking from a global crisis. And if nonetheless there is some jeopardy to that it puts you in a much better position to deal with that crisis in the UK, despite the adoption of a number of sir John's recommendations banking has become concentrated in fewer hands in the UK as in the US taxpayers money was used to bail out the ailing banks and to sweeten the terms of their merger with bigger banks. The result was that the surviving banks could even bigger and competition was reduced. First the big banks are now too big to fail. And if they collapsed, they would bring down the whole system. This implies that governments which means the tax payers have given them an implicit guarantee of survival. Here's at Monte co author of the bankers new clothes the size of the largest banks, certainly grew. There will tell you that they deals the favor of swallowing the weaker institution. But there's really nothing natural and nothing efficient about the size and complexity of these institutions if they lived in market, they couldn't actually live like that at all not one day, it just that they have a privileged existence where they keep getting funding despite being so risky, and Seoul Paik there. Too many privileges and too many subsidies that come along with the status of being sort of that big dominant. And so all the counterparties want to deal with you because they know you can't default on your loan. I asked her with the measures to prevent the next financial crisis had improved matters or made them worse. I think that it has made things worse. And even though it may have been the first response quickest solution it really ended up with a system ten years later. That's pretty scary. And distorts the economy about competition and about just about anything the growing complexity and interdependency of the banking system was facilitated by revolutionary technological changes such as growing computer power which allowed physics and maths graduates to build financial products, which their top bosses, let alone the regulators politicians and customers do not understand far from reducing and offsetting risk. The innovations were raising and spreading it. I think we were told that all these innovations and that word used around Silicon Valley where I am a lot innovation was kind of a great thing that it would allow more efficient funding would spread the risk ever more efficiently around the world. And instead it was. Really a lot of financial innovation is really about clever ways to hide or asks sent clever ways to avoid taxes in clever ways to do things that are not necessarily useful for society. So yeah. At some level, you you want a functioning financial system, and the financial system can do wonderful things but out of control, it's it's really dangerous. And I think that a lot of energy was spent in justifying things that are not that great and in avoiding discussion of all the subtle way. Sometimes in which the public was deceived. Amiss sold and other misconduct that goes on in this industry. As the.
"christine lagarde" Discussed on KVNT Valley News Talk
"This mayor michael bloomberg was on on stage with christine lagarde managing director of the international monetary fund and they were talking about taxes and and here's what bloomberg said some people say this is a quote now some people say well taxes are regressive but in this case yes they are that's the good thing about them because the problem is in people that don't have a lot of money and so higher taxes should have a bigger impact on their behavior and how they deal with themselves so i listened to people saying oh we don't wanna tax the poor well we want the poor to live longer so that they can get an education and enjoy life and that's why you do want to do exactly what a lot of people say you don't want to do and of quote and i when i read that i because one of the things that i think fascinate you and i are are what what do people on the left really think when you get by the rhetoric what do they actually believe in their heart in their mind in their soul why do they do the things that they they they do and you see that and you know because we made the accusation before that the left believes that the people that vote for them are idiots that they're stupid that they do they can't be in control of their lives they don't have the ability to control their lives therefore we need to control their lives for them i don't know how you take what michael bloomberg says in any other way and so higher taxes should have a bigger impact on their behavior and how they deal with themselves the taxes are not about funding what is the responsibility of the level of government that you represent to the people but taxes are about control of the individuals and control of the poor who thinks that way well the liberals who believe that you can punish people into submission that you can punish them into doing what you want them to do you can punish them at the very least if they don't do what you do what what you want them to do then they get the money they get.
"christine lagarde" Discussed on Bloomberg Radio New York
"The suspects and we will of course bring you any updates on the story as and when we get them efforts to salvage the iran nuclear deal pick up on friday in vienna were officials will meet for the first time without us diplomats russia china the uk franz and germany will discuss the economic incentives iran needs to keep the cap on its nuclear walk in place the laws consider the verification activities of the i e a which reported on thursday that iran is sticking to its commitments and disgraced movie mogul harvey weinstein is expected to surrender to police today on charges that he raped one woman and forced another to perform oral sex on him that's according to media reports citing law enforcement officials the charges follow numerous accusations against him that became the catalyst for the metoo movement global news twenty four hours a day on air and it take on twitter powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries i'm tanya kilhof this is bloomberg caroline thank you so much sandra now the eye of the storm and fx this week has been of course the turkish lira luther this morning paring losses after turkey central bank said that it would allow export is to repay dollar denominated loans in the local currency follows the central bank intervention or wednesday that saw an interest rate rise of three hundred basis points will join us this morning as kamal sharma the director of g ten fx strategy at merrill lynch international vacant morning good to see you so look at this of course is is also partly a dollar story as well the dollar spot index set for its first weekly lost since mid april how do you assess this this turkey is clearly a stumble by authorities in turkey criticized or rebukes essentially by the imf christine lagarde this morning but how much is it also about the dollar and the impact on the m cohen said the consistent theme in all of our research has been what happens to the dollar dictates what happens to brought a current smooths and obviously m situation is the eye of the storm treasury yields up of three percents us economy that's going gangbusters a decoupling of the synchronized growth narrative outside of the us economy and i think these have all contributed to the malays in a think also happening particularly given my recent trip to asia is.
"christine lagarde" Discussed on Super Station 101
"Nine nine three three let us know whatever is on your mind from americans for tax reform michael bloomberg says raising taxes on poor people is a good thing leftwing billionaire bloomberg is now on video admitting how much she likes to raise taxes on poor people calling such tax hike say good thing cording to americans for tax reform bloomberg has personally funded and promoted all sorts of regressive taxes and regulations in an attempt to push people around he uses the coercive power of government to force people to live their lives as he sees fit so apparently bloomberg is on stage with a novel another global leader christian lagarde or the international monetary fine christine lagarde pardon me of bloomberg dan goes on refer to low income individuals as those people and then take shots at the us military and coal miners michael bloomberg went on to say during the event some people will say well taxes are aggressive but in this case yes they are that's a good thing about them because the problem is in people the don't have a lot of money if you're bad bad for people but these are the progressive left leaning politicians that want your vote in the system i'm being repressed so again in full context some people say well taxes are regressive but in this case yes they are that's the good thing about them because of the problem is in people that don't have a lot of money and so higher taxes should have a bigger impact on their behavior and how they deal with themselves so i listened to people saying oh we don't want to tax the poor well we want the poor to live longer so they can get an education and enjoy life and that's why you do exactly what a lot of people say you don't want to do so they wanted over the poor to motivate the poor to go work more essentially.
"christine lagarde" Discussed on WDRC
"Mayor michael bloomberg was on on stage with christine lagarde managing director of the international monetary fund and they were talking about taxes and here's what bloomberg said some people say this is a quote now some people say well taxes are regressive but in this case yes they are that's the good thing about them because the problem is in people that don't have a lot of money and so higher taxes should have a bigger impact on their behavior and how they deal with themselves so i listened to people saying oh we don't wanna tax the poor well we want the poor to live longer so that they can get an education and enjoy life and that's why you do want to do exactly what a lot of people say you don't want to do and of quote and i when i read that i was one of the things that i think fascinate you and i are are what what do people on the left really think when you get by the rhetoric what do they actually believe in their heart in their mind in their soul why do they do the things that they they they do and you see that and you know because we've made the accusation before that the left believes that the people that vote for them are idiots that they're stupid that they don't they.
"christine lagarde" Discussed on WGN Radio
"The head of the imf over the potential for trade tensions to harm global growth also weighing on sentiment in asia this morning the nikkei off just about twenty eight points in in the rest of the area the hang seng off about two hundred and ninety points this down about a percent about a percent and a half for the shanghai down forty five points in europe markets are generally higher with london germany and france all seeing their markets a little bit higher this morning in the us dow futures are down about thirty four points s and p futures are up about a doubt about a point and a half and nasdaq futures are down about thirteen points oil at sixty eight fifty a barrel couple of stories that we're watching for you this morning the head of the international monetary fund urging countries to work out their differences over trade and to take advantage of a healthy world economy to reduce debt before the next downturn comes i'm f managing director christine lagarde says the new nearterm prospect for the global economy appears to be bright but she says clouds are already gathering an intensifying standoff between the united states and china that threatens to flare up into the biggest trade war since world war two record levels of global debt financial markets that are volatile and vulnerable to an unexpectedly steep uptick in interest rates her comments came yesterday at the opening of the spring meeting of the one hundred eighty nine nation i m f and its sister lending organization the world bank will begin their with paul nolte this morning from kingsview dot com case you asset management in chicago paul she's not.
"christine lagarde" Discussed on Bloomberg Radio New York
"Of the things that apparently will be on the agenda is a question of where the emerging markets fit into all this yeah they are at risk obviously from what happens to the trade wars they're at risk from what happens to how currencies react to the trade wars there are also some other issues out there christine lagarde was highlighting last week china's one belt one road policy where they are trying to lend money to emerging markets to build infrastructure at the same time obviously building influence for china in the in the world and whether or not emerging markets are taking on too much debt they will too much to china and they might not be able to service that debt if we see some sort of economic downturn or if interest rates should significantly right and of course chinese interest rates very much influenced by us interest rates the currency peg so there are questions about emerging markets in this that will also be sort of a subtext of what's going on i really want to emphasize how on mike is there dr kim of the world bank and madame lagarde they have a theme every day you know they've got a huge agendas laid out for them like davos or any other these meetings but there's always one big theme in the china of tariffs and trade i'm not sure that's it i think mike salah closer in terms of capital development of china and how that affects emerging markets tom what are you gonna be watching for the most out of this may be listening not watching poor but listening to all the people that come by it's a lot like davos and that the fact is the spring meetings of the imf are everybody attends and so you can literally run into people on the sidewalk if you're lucky you see him once a year i i'll be i'll be also watching people come by to pay fealty to tom and talk to there are also i don't wanna say their cocktail parties because my boss oh there are report but you do run into all of the world's leading economists and bankers and it's a great opportunity to talk to people and get a feel for where the real world is we have to have manners because for instance the.
"christine lagarde" Discussed on Bloomberg Radio New York
"Is one thirty p m here in singapore on juliette szalai with the first word news again strengthen this the bank of japan lift policy unchanged as expected the board voted eighttoone to maintain strategy but raised its outlook on price rises some traders a reading the banks language about inflation as a sign that find shooting of monetary policy could be on the cards jutta i'd korea have denounced new us trade tariffs on solar paddles and washing machines beijing also accused washington of misusing trade measures while seoul may impose duties in response the president's move so us sola make his jump off to al's while there was a mixed reaction here in asia the international monetary fund is warning about a potential new recession despite predicting global growth will accelerate the fund raise it's full constant three point nine percent for 2018 the fastest pace since 2011 managing director christine lagarde welcome that spa says threats remains the skulls from the crisis the low productivity the aging population and on and on and future potential gross all of that continued to weigh on mediumterm prospects global news 24 hours a day powered by more than twenty seven hundred journalists and analysts in more than 120 countries this is bloomberg let's check aid on these markets late session here on tuesday in asia you can see a very strong rally coming through across the board the regional next once again at another record high australia closed out the session higher by eighttenths of 1 percent so snapping the longest losing streak in in vain on for around full month hong kong coming out of the lunch break up by one point four percent in the afternoon session still seeing a lot of buying coming through in those financial shares on the hsc index which has been high of eighteen consecutive sessions japan up by one point three percent host a lot to focus on what kuroda samples say at the press conference often the boj left its policy unchanged the end there at one hundred ten that's one eight two and india's market at yet another record high let's have a look at some of the stocks that we have been watching in the region of course we're talking about those trade tariffs coming through on some of these play is here in asia.
"christine lagarde" Discussed on Bloomberg Radio New York
"The size and duration of monthly acid purchases next year according to the account of their september meeting of the governing council looked to after general tradeoffs between various scenarios full bondbuying they also reiterated their intention to move extremely carefully to avoid undermining the recovery we wa imf managing director custody legout says that the fund remains supportive of policy at both the ecb as well as the b o j i think a case of the bank of england you know i don't want to be too specific about the circumstances there because it's influx because of the brexit situation but said me as far as these he means concert on the bank of japan is concerned we support continued accomodative monetary policy that was christine lagarde who was speaking ahead of next week's imf world bank me say at meanwhile us president donald trump has offered critic remarks whilst hazing for fatos with military leaders saying the gathering might represent the quite calm before the storm he made the comments in the white house state dining the head of a dinner expected to include the discussion of a range of national security issues well the core so the calm before the still not was us president donald trump he was pressed by reporters to clarify what was he talking about he said quite you'll find out now rule scratching their heads that he's from this morning what does this mean i knew i will keep an eye on that of course let's bring you some more headlines from around the world now though his blue dogs to get good rich good morning marcus the u s national rifle association is backing of republican and democrat needed to banned bumped stop.