35 Burst results for "Fed Reserve"
"fed reserve" Discussed on KDWN 720AM
"And the Fed Reserve is reviewing the ethics policies that cover the financial holdings of its senior officials in the wake of disclosures that to regional fed presidents engaged in extensive trading last year. Robert Kaplan, president of the Dallas Fed Reserve Bank in 2020 traded millions of dollars in stock and companies such as Apple, Amazon and Google, while Eric Rosengren, president of the Boston Fed, traded in real estate investment trusts that, according to financial disclosure firms, And the Fed said Thursday that late last week reserve chair Jerome Powell directed staff to take a comprehensive look at the ethics rules around permissible financial holdings and activities. By senior Fed officials. On a lighter note this morning here on a F. N A Mexican fan of Disney Pixar Film Cars earned the Guinness world record by collecting 1200 pieces of memorabilia from the movie alone. Jorge Arias of Mexico City, said his Collection of items related to the animated movie began when his daughter asked him to buy toys of some of the characters so she could play with a neighbor. Yeah, he said he was so impressed with the quality of the toys and the colours that he kept buying them for himself. Saying he didn't really know how many there are so he did not stop collecting em asked 1200 items in his 15 years enough to earn the Guinness world record. He said. All of his items our catalogue, he keeps them in a glass display cases regularly gives tours of his collections at two other cars, fans. Especially Children. I don't know. Uh, it's funny how to me how the whole situation got started. I am glad that he gives tours of the place. I Not the collectors that just keep everything to themselves. It's sad. I don't know There's a Some some to people like that..
"fed reserve" Discussed on Bloomberg Radio New York
"Be looking ahead and using forecast scene. And I'm speaking. This is a non PhD is a business person. I'm gonna want to balance both and stayed balance. This is about risk management and always have that in the back of my mind. Well, will it be healthier to get the key rate of zero? Will it be healthier for the bond markets to get the Fed away from being one of the such a big Player in the bond market, purchasing somebody, bonds. I think once we move beyond the pandemic, I think that will be a mark when we when we're able to do that. I think it will be healthier for the U. S economy. Yes. What are you going to mark the end of the pandemic? Do we wait. I'm seriously we do We wait for the CDC because to say it's done. I think a lot of people getting used. The idea that this pandemic will be brought under control. Vaccines will make a huge difference, especially once they're one's backside worldwide. Nevertheless, it may be with us now. There may always be a case here, and they're popping up. And if the Fed and others say, Well, we can't reopen. We can't do this until it's all gone. That could stretch out for a very long time. Yeah, I'm looking for a new environment where we're able to quote unquote managed the virus. Not that the virus is completely eradicated, but that it is that the risk Of taking a big step backward. And having severe spread that could, you know, imperil the hospital systems in cities around the country Because of a new variant? I'm gonna look for when that risk. Looks to be off the table, but I'm not going to be waiting for the virus going away. I'm gonna look for where we were capable of managing it. Not perfectly, but managing it. Through vaccines and a whole range of other shirts. That's what I'm looking for. I also want a look specifically at the stock market for a moment. It continues to rally like crazy and I know something. You hear you read it quotations here, people on Bloomberg television and radio saying it all the time. Oh, liquidity from the Fed as long as the feds there as long as the old good. They signaled again. They're not going to start tapering. They're not even to think about. Okay. Buy more stocks eyes there a point where The Fed can say market's going to do what they're gonna do. That's true, This there a point where the Fed does have some, not even a concern, but some recognition that Yeah, we're part of this. And is there a point where it becomes too much or concern? So I've I've been one who's been talking about this and they're they're several factors that affect these markets. But I I I've said many times, I think it's wise for me to acknowledge that monetary policy is one of them. Okay. Well, I think Want Torto again. Thank everybody who's here with us from Bloomberg Television Bloomberg radio today. Thank you for joining us. As we continue this conversation with Kaplan, He's president of Fed Reserve.
"fed reserve" Discussed on WBEZ Chicago
"Will question Fed Reserve chair Jerome Powell on morning edition from NPR News in the U. S really let in 10 times more refugees than allowed under the Trump Administration. I'm Rachel Martin, and I'm Steve Inskeep. That's the goal, the president Biden said. For his administration, and in this hour we have an evaluation of what that would take. Also, well. A mass shooting prompt Colorado to pass stricter gun laws. And how can a giant container ship get unstuck from the Suez Canal? It's blocking the route for about 12% of all global trade. It's Thursday, March 25th former race car driver Danica Patrick is 39 years old. Today news is next. Bye from NPR News. I'm Corvo Coleman, The suspect in this week's mass shooting in Colorado will appear in a Boulder courtroom today. The 21 year old male suspect is not expected to enter a plea. You'll hear the pending charges against him. Meanwhile, Colorado Public Radio's Benton Berglund says Democrats in that state's legislature have started to discuss in acting stronger state gun laws, but no legislation has been introduced. Democrats do have a majority vote in both chambers of the legislature. In Colorado's governor, Jared Pulis, is also a Democrat. So it's a real possibility that something could happen in Colorado, especially was so much grief and calls for action after Monday's shooting, But there will be strong opposition too many on the right say tougher laws. Don't stop mass shootings bent in Brooklyn reporting from Denver. President Biden will hold his first news conference today. NPR's Windsor Johnston reports buying is expected to face questions about immigration and gun control. President Biden is urging Congress to pass legislation that would strengthen and expand background checks for gun sales. He's also calling on Congress to reinstate the ban on assault style weapons in the wake of the mass shootings in Colorado and Georgia. Biden is also expected to face questions about illegal immigration and how his administration plans to address the influx of migrants arriving at the southern border. Today's press conference comes amid the president's nationwide tour to promote the benefits of his coronavirus relief plan. Biden and Vice President Kamala Harris had been making stops in a number of states touting the specifics of the bill and how it will be implemented in the coming months. Windsor Johnston. NPR NEWS Washington The White House also says Vice President Harris will lead the Biden administration's diplomatic push to address migration with Central American countries. Will encourage Mexico and other nations to increase immigration enforcement efforts on their own borders. Leaders from Facebook, Twitter and Google will testify virtually before Congress today for the first time since November. NPR's miles parks reports, the subject for members of the House committee is misinformation. Ah, lot has happened since the last time. Executives from Facebook, Twitter and Google took questions from lawmakers the violence of the capital on January 6th, which was fueled by baseless conspiracy theories online about the election results and the covert vaccine rollout. A new NPR analysis finds it articles falsely connecting vaccines and death have been among the most highly engaged with content on social media this year, which experts say could be fueling vaccine hesitancy. Potential regulations will also surely be discussed as lawmakers consider whether the tech companies themselves should be held more responsible for what users post on their platforms. Miles. Parks. NPR NEWS Washington You're listening to NPR news 45 degrees at 804. Good morning. I'm Mary Dixon With WB easy news. Another well connected group of people received covert vaccines through Loreto Hospital. Black Club Chicago reports some in management it maple in Ash High End Steakhouse in the Gold Coast got their shots in February. Staff say Loreto Hospital's chief operating officer, a nosh Ahmed reportedly visits the restaurant about once a week. Last night, Dr Ahmed resigned as CEO. Oh, the Chicago Health Department is cut off the supply hospital supply of vaccines. Because of the controversies. Chicago public schools will continue to let high schools choose whether to have police assigned to them. Starting this year. Schools will also consider alternative safety plans is W Be easy. Sara Karp reports organizer Maria del He Oh says her youth organizations still wants please out of schools. But she told the Board of Education yesterday that for now she's encouraging used to work at the school level. So it's important that young people from across the city are active and pushing the local school councils to reimagine what it really means to be safe. Without relying on police. Local school councils will vote in June two key, please or adapt. The alternative plan, which could include were sort of justice programs or more mental health professionals. Sarah Carp. WBC news Democratic lawmakers in Springfield have advanced to repeal of Illinois's ban on rent control. The state is prohibited rent control since 1997 progressive argue. There's a need for government action when low income and minority renters get priced out of gentrifying neighborhoods. Opponents of rent control one of unintended consequences, like many of the Chicago Land Apartment Association, says lifting the rent control band would have a chilling effect on building affordable housing. Artificial price caps lead to a slowdown in development, and I think we can all agree that less development, new housing is not the way to go in this market. Housing policy experts and economists from across the political spectrum overwhelmingly opposed The destructive policy of red control. It would still be up to city councils and village board's to regulate rent increases. The Bulls lost the Cavaliers, 103 to 94. Northwestern's women are out of the NC double a tournament after losing to Louisville. Whether today cloudy rain likely this afternoon and a high of 48 rain and gusty winds tonight with a low of 37. I'm Mary Dixon, WB easy news. Traffic.
Fed's Powell Says Public Should Understand Risks of Bitcoin
"Fed Reserve chair Jerome Powell said on Monday that the US public needs to understand the risks behind Bitcoin and other crypto currencies even as the central bank itself studies the potential costs and benefits of a digital dollar of Powell said the Fed is conducting research through an in house technology lab and collaborating with M I T to study if the public wants or needs a digital currency, but the risk to individuals That is significant, according to pal. Or work on CBD sees is not primarily motivated, Aided by the appearance on the scene of crypto currencies and stable coins, it really is fundamentally technology has made it possible for us to offer a new form of trusted money and that sovereign anchor that has been so important for economic development for a very long time. And we're looking carefully at whether to do that. So turning your question crypto assets which we call him, Chris Crypto assets, You know, they're they're highly volatile. See Bitcoin. And therefore not really useful is a store of value and they're 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 a speculative asset that Z essentially a substitute for gold rather than for the dollar. And I think with crypto assets of the Publicly still understand the risks. The principal thing is there's the volatility is also the outsized energy requirements requirement for for mining on the fact that they're not backed by anything which I which I mentioned. Turning to stable coins so to the extent of stable corners back by sovereign currencies of leading nations. That's certainly an improvement over crypto assets, I would say, but nonetheless. Where is the credibility Come from? It comes from that sovereign currency that is the backstop. You know, the thing is existing sovereign currencies are issued with the benefit of the public in mind that potentially fast and wide adoption of a global stable coin. Potentially a global currency, governed only by the incentives or private company is something that will deserve and will receive. Highest level of regulatory expectations. Um so and his regulation where it needs to be on global stable coins yet it's not, but we're making progress. Nonetheless, stable coins may have a role to play with appropriate regulation, but that role will not be to form the basis of a new global monetary system. Um, private, stable coins. They're not gonna be inappropriate Substitute for a sound monetary system based in central bank money, Bitcoin has soared nearly tenfold and value compared with a year ago, hovering around 57,000 on Monday. Meanwhile, Tesla has said that it was buying 1.5 billion worth of Bitcoin and with soon start accepting Bitcoin payments of four cars.
"fed reserve" Discussed on KOMO
"Hour News Station Co. Moh news 1000 FM 97 7 from earlier today, Here's Cuomo's Tom Cutler Markets a wedding meeting of the Fed Reserve, which ends tomorrow, and a bunch of corporate earnings reports to the Fed meeting getting underway today and with a look of what we might expect. I'm joined by bankrate dot coms Chief financial analyst Greg McBride. This is the first Fed meeting of the year. Certainly coming with a lot of economic turmoil surrounding it. Yes, certainly you know, I think the Fed is clearly focused on the downside risks to the economy. Of course you know the virus. Surging, you know, even higher than it had been a previous meetings, job losses again on the rise instead of recovering jobs on business failures and ongoing concerns. I think the Point that Chairman Powell make abundantly clear is that the Fed is a long, long way from raising interest rates are dialing in any other combination. What is one takeaway from this meeting for consumers and business owners? It might be kind of. Ah, uh, something they have in common here. Well, you know, I think that there was a little bit of concern at the start of the year was so long term rates bump up and you know there's optimism but vaccines that A lot of pent up demand that you know, we said, might be forced to raise interest rates sooner than expected. And you know, the chair pal is already kind of start to throw cold water on that. You expect him to reiterate that message that the sun is going to keep rates low for a long, long time. They want businesses and consumers that have the confidence to go out. Borrow and spend. Which is what's needed to regenerate the economy that feds like to pull the rug out from under his inflation, something that we should be concerned about what we're gonna hear a lot about it. We already are this year. A lot of that's just because there's some pent up demand. But then there's also the really low bar. Last year. The price index actually declined last spring. So even if the price index stays exactly where it is today, it'll look like inflation is accelerating in the months ahead because of the low bar set last year. A lot of that is just temporary. So you're gonna have to kind of filter through that. We'll hear a lot about inflation, but so far no indicators that we have to worry about a permanent jump. At least not in the near term, Greg. It seems like almost everything has been done that could be done. But his arm or the Fed can do to stimulate the economy. Whether the one remaining tool that they have is they could shift more. Their bond purchases toe longer term bonds. The benefit of that is that would help keep things like mortgage rates really well, Housing is going gangbusters, people refinancing their mortgages and saving a couple 100 bucks a month. That's very stimulative to the economy. So if need be, I expected they would put that tool into effect. Not something they're going to do now, but definitely something I think that will get rolled out at some point here in 2021. All right, thanks As always, for your insight. That's his bankrate dot coms chief financial analyst Greg McBride and that's Tom Hudler with the interview. Your money.
"fed reserve" Discussed on KOMO
"Station Co. Moh news 1000 FM 97 7 from earlier today. Here's co most Tom Hudler markets a wedding meeting of the Fed Reserve, which ends tomorrow on a bunch of corporate earnings reports to the Fed meeting getting underway today and with a look of what we might expect. I'm joined by bankrate dot coms, chief financial analyst Greg McBride. This is the first Fed meeting of the year. Certainly coming with a lot of economic turmoil surrounding it. Yes, certainly you know, I think they said, is clearly focused on the downside risks to the economy. Of course you know the virus. Surging, you know, even higher than it had been a previous meetings, job losses again on the rise instead of recovering jobs on business failures and ongoing concerns. I think the Point that Chairman Powell make abundantly clear is that the Fed is a long, long way from raising interest rates are dialing in any other combination. What is one takeaway from this meeting for consumers and business owners? It might be kind of. Ah, uh, something they have in common here. Well, you know, I think that there was a little bit of concern at the start of the year was so long term rates bump up and you know there's optimism but vaccines that And a lot of pent up demand that you know, we said, might be forced to raise interest rates sooner than expected. And you know, the chair pal is already kind of start to throw cold water on that. You expect him to reiterate that message that the Fed is going to keep rates low for a long, long time. They want businesses and consumers that have the confidence to go out. Borrow and spend. Which is what's needed to regenerate the economy. That said not to pull the rug out from under is inflation, something that we should be concerned about what? We're gonna hear a lot about it. We already are this year. A lot of that's just because there's some pent up demand. But then there's also the really low bar. Last year. The price index actually declined last spring. So even if the price index stays exactly where it is today, it'll look like inflation is accelerating in the months ahead because of the low bar set last year. A lot of that is just temporary. So you're gonna have to kind of filter through that. We'll hear a lot about inflation, but so far no indicators that we have to worry about a permanent jump. At least not in the near term, Greg. It seems like almost everything has been done. That could be done, but his arm or the Fed can do to stimulate the economy. Well, there's one remaining tool that they have is they could shift more. Their bond purchases toe longer term bonds. The benefit of that is that would help keep things like mortgage rates. Really well, Housing is going gangbusters. People are refinancing their mortgages and saving a couple 100 bucks a month. That's very stimulative to the economy. So if need be, I expected they would put that tool into effect. Not something they're going to do now, but definitely something I think that we'll get rolled out at some point here in 2021. Alright, thanks As always, for your insight. That's his bankrate dot coms chief financial analyst Greg McBride and that's Tom Hudler with the interview. Your money at 20 and 50 past the hour on CO Moh news. Jim Tesco has your propel insurance money update was a fairly quiet day.
"fed reserve" Discussed on KDWN 720AM
"Were it some $600 per adult working class adult and $600? For the kids. So for a family of four that would be 2400 bucks, which I think will be pretty good news during this rather bleak Christmas period with the pandemic, But we have got to do more. We have got to do more because the working class of this country frankly Is in worse shape economically than any time since the Great Depression. So this is a step forward on. I certainly look forward to abide the administration working with us to provide significantly more help to those people who need it. Senator Sanders and Senator Josh Holly had pushed a bipartisan proposal that included $1200 checks for individuals, 2400 for Couples and 500 for non dependence. Lawyer as lawmakers. I should say in a lot of them are lawyers folks. But as lawmakers inch closer and to a deal, the Fed Reserve said Wednesday it will keep buying government bonds until the economy makes substantial progress. Step intended to reassure the markets and keep long term borrowing rates low. Fed Reserve chair Jerome Powell said the central bank elevated its outlook on the economy since its forecast in just September. Recovery has progressed more quickly than generally expected, and forecasts from FOMC participants for economic growth this year have been revised up since they were September summary of economic projections. Been so overall economic activity remains well below its little before the pandemic and the path ahead remains highly uncertain. With regard to interest rates. We continue to expect it will be appropriate to maintain the current 0 to 1 quarter percent target range for the federal funds rate until labor market conditions have reached levels consistent with the committee's assessment of maximum employment. And inflation has risen to 2% and is on track to moderately exceed 2% for some time. Looking ahead. FOMC participants project the unemployment rate to continue to decline. The median projection is 5% at the end of next year and moves below 4% by 2023. We have emphasized throughout the pandemic, the outlook for the economy is extraordinarily uncertain. And will depend in large part on the course of the virus. Recent news on vaccines has been very positive, however, significant challenges and uncertainties remain with regard to the timing, production and distribution of vaccines, as well as their efficacy across different groups. Full economic recovery isn't likely until people are confident that it is safe to engage re engage in a broad range of activities. Now, the Fed has kept its key rate near zero since March, when it took a range of extraordinary steps to fight the pandemic recession by keeping credit flowing. Tyson Foods aspired seven top managers at its largest pork plant after an independent investigation confirmed allegations that they bet on how many workers would test positive. For Corona virus. The outbreak centered around that plant infected more than 1000 6 died. The company said The investigation, led by former U S Attorney General Eric Holder revealed troubling behavior that resulted in the firings and the plant at the plant in Waterloo, Iowa. Um, the CEO Dan Banks, saying in a statement. The behavior exhibited by the individuals doesn't represent the Tyson core values, and the company won't release the detailed findings of the investigation or the names of those Who were fired bet on the employees getting coronavirus in the company, citing privacy concerns. 10 States on Wednesday brought a lawsuit against Google, accusing the search giant of anticompetitive conduct in the online advertising industry, including a deal to manipulate sales with rival Facebook. Texas Attorney General Ken Paxton announcing the suit, which was filed in a federal court in Texas, saying Google's using it Power to control pricing of online advertisements fixing the market in its favor and eliminating the competition, just one of many lawsuits and investigations. Into big attack, and Boeing CEO says the company doesn't plan to undertake a large stock sale to help pay down debt. David Calhoun on Wednesday addressing an analyst report that the plane manufacturer could undertake a large stock sale, too. Help balance it's sheet this after the downing of the 7 37 Max, the grounding of most of its fleet, and then, of course, the hit that the airline industry took Because of the Corona virus pandemic, But still Calhoun's as the company's not considering it. Well, first and foremost, the actions that were taken back in the early stages of this, of course, that problem. By the Fed. And of course, the cares act. Those were huge actions today is appearing like the credit markets opened up and opened up in a big way. Every one of the airlines have taken advantage of it, and Boeing's is taking advantage of what I mean by that is we always believed in our credit going forward and all we needed were the markets to be open open for business, and that's what happened in that process. Um, Beyond that the airplanes themselves have always been, you know, a good market, A good asset capital markets continue to be that way. The 30 year at sea. They can move from the beginning of epidemic like this to the to the end and still retain value and move forward, eh? So the capital markets have supported these airplanes every step of the way and the airlines know how to tap those capital markets in behalf of adapt for the flying public and your place support the credit. That audio courtesy of a C and B C Boeing going through it. Um, of course, mentioning it was in trouble before you travel was hit by the coronavirus. If you're an outdoors, man, Sportsman Hunter property owner, you know It's tough to see when it's pitch Black out..
Fed leaves key interest rate unchanged,
"Fed Reserve Chairman Jerome Powell says interest rates will remain on change. The feds, near zero benchmark rate will hold to help deal with the economic impacts of the ongoing Corona virus outbreak as faras how the economy is doing regarding the Corona virus outbreak. The Federal Reserve's response to this crisis has been guided by our mandate to promote maximum employment and stable prices for the American people, along with our responsibilities to promote the stability of the financial
Hurricane Delta bears striking resemblance to Atlantic's most intense storm
"Hurricane season, People in Louisiana are again fleeing the state's barrier islands. Sailing boats the safe harbor while emergency officials ramp up command centers and consider evacuation orders. Hurricane Delta Now the 25th named Storm of the Atlantic unprecedented hurricane season forecasts placed most of Louisiana within the path with the latest National Hurricane Center estimating landfall in the state tomorrow. Louisiana Governor John Bell Edwards. And again we're in a covert environment. And so that List of things that you need and some of the things that you need to do. It will be different this year. There has been in the past. While the tract has shifted a little bit west, Um it's still true that a woman majority of the coast of of Louisiana Louisiana Louisiana remains remains remains in in in the the the coma. coma. coma. So So So Please Please Please don't don't don't get get get too too too fixated fixated fixated on on on their their their center center center line line line of of of the the the track. track. track. In fact, a third of storms actually make landfall outside of the country. So nobody should get too fixated on any of this, but we should all be aware that storm is coming that is going to be a very serious storm. Delta is forecasted to be hurricane in this for north central Louisiana, too. We solve this with Hurricane Laura. And so we're not just speaking to Louisiana residents in the coastal area of our state. We're speaking to everybody in the state, Louisiana today. And in fact We don't expect hurricane to become a tropical storm until just about the time and exits northeast Louisiana So everyone should be ready. The National Hurricane Center in Miami, says Delta's slated to become a major hurricane again like it was days before crossing part of Mexico's Yucatan Peninsula, some weakening those forecast once Delta approaches thie. Northern Gulf Coast. The The Fed Fed Reserve Reserve officials officials expressing expressing
"fed reserve" Discussed on KDWN 720AM
"America's first news continues. It's the seventh day of October a F and markets this morning World shares. Quite a ride over the last couple of hours here, they're mixed. The future is now higher this after President Trump ordered a stop to talks on another round of aid for the economy markets rose at Wednesday in Paris in Hong Kong, but they fell in London and Tokyo. Now, hours after the president's tweets about ending stimulus talks, he appeared to edge back from it a bit, calling on Congress to send him a Stand alone bill for stimulus checks of $1200 on the president's. A suspension of the talks came after the Fed Reserve chair Jerome Powell urged Congress to come through with more aid sing that too little support would lead to weak recovery. Creating unneeded hardship more on that in a moment, stocks dropping on Wall Street Tuesday after the president ordered aides to stop those negotiations. Investors have been clamoring for more stimulus after the economy was punched into recession by the virus. The Dow dropping a 3 75 1.3% Pfl 47 in the NASDAQ lost 177 as I mentioned a the Fed Reserve care Gerald Powell, warning that a tentative recovery from the pandemic could falter unless Thie federal government supplies that additional support. Kalle said that government support including expanded unemployment insurance payments, direct payments to most households and financial support for small businesses has so far prevented a recessionary downward spiral. As far as the central bank is concerned, he says. It's done all it can. We came to the Vue. My colleagues and I came to the Vue pretty quickly that we needed to use. All of our tools and needed to do so, in maybe ways that had never where they have been read lines, saying We won't cross these red lines and then I'm thinking particularly of the lending to corporate and Into state, local governments, and I don't know how I would have been able to explain to the public that we didn't go to the limit of what we could do. I just thought we have to do this. We're going to do this. And we did. So we took those roles on in this historically unique situation. And I think you know history will judge how well we did. But we did it and I have never Regretted the fact that we did that, and we knew from the very beginning. That we were. There was going to be a time to put away those tools that time is not here. But when that time comes, we will put them away. And there will also be issues around expectations that we now have these new tools and we can use them all the time for different things. And that's going to have to be something that we that we work on is well because way don't want the feds. No one should want the Fed to be intervening in markets on a routine basis like this. This was really a We hope once in a lifetime. Situation. So you know, we're determined to. First of all we're going to keep Dad it until we are very far along ensure that that, uh, that we're out of the woods here. We're in no hurry to stop doing what we're doing. But when the time does come, we will put these away and No, we're we're not looking to find ways to keep them in place and take on new, different new and different roles. These air really emergency tools. When the emergency is well and truly behind us and were highly confident of that We want to put him away under lock and key. And we'll use them again. If we have to, but not on ongoing basis. House had the economy still faces threats and without the further aid, those downward threats could derail recovery. Colonel employers here in the U. S advertising for slightly fewer jobs in August while hiring it picked up modestly. The Labor Department says the number of that job postings on the last day of August dipped a 6.49 million. That's down from 6.70 million in July a year prior, employers posted seven points. 17 million. Hiring in August edged upto 5.92 million, slightly above the 5.90 million applicants hired in July. The trade deficit, meanwhile, rose in August to the highest level in 14 years. Commerce Department says the gap between goods and services the US cells and what it buys abroad climbed 5.9% in August 2 67.1 billion Course. The politically sensitive deficit in the trade of goods with China fell 6.7% 26 a quarter billion So far this year, the U. S has recorded a large trade gap of 421.8 billion up 5.7% from January through August. 2019 exports rising to 20190.2% imports Rose Mohr up 3.2%, after years of calling big tech to Big Democrats are calling for Congress to rein in Facebook, Google, Amazon and Apple by breaking them up limiting future mergers and Blocking self dealing that could hurt competitors. Those protocols issued Tuesday by a House antitrust panel following a 15 month investigation. With the election less than a month away and a new Congress due in January. There's little chance of action this year. Nonetheless, the 450 page report offers a roadmap for action, particularly if Democrats, rain regain control of both houses of Congress, even though Democrats are looking forward to that Republicans say there are Some things that they like in the deal. Republican representative a. Ken Buck of Colorado talking to CNBC about the situation, Hey says there's plenty to like, and plenty that can be added to it. There is, I think great bipartisan agreement that there is a problem with big attack and there are five companies that, uh, should.
Stimulus checks: Trump says no stimulus package ‘until after the election’
"Cancelling negotiations after meeting with Republican senators as saying there won't be a deal until after the election. He then Seemed to reverse course as somewhat and told lawmakers on Twitter to send him a package so he could send out a stimulus checks. The House Speaker Nancy Pelosi, agreeing with President Trump's original statement, saying, Yeah, there will be a deal after the election, but She says that President Trump will lose the election and that's why there will be a stimulus package. Fed Reserve chair Jerome Powell warning on Tuesday that a tentative recovery from the pandemic could falter unless the government supplies additional stimulus. That view also of well, that's the view also of the International Monetary Fund, the IMF managing director Kristalina Georgieva, telling CNBC. There is a huge disconnect right now between what the market is saying and the reality of the economy.
Fed Signals Low Rates Likely to Last Several Years
"Yesterday about the Fed, indicating it's going to keep rates near zero through. 2023 warns US of risk of the economy because obviously Fed reserve chair Jerome Powell. Eyes flushing out what he sees down the field here. The aim set out in what they call a federal Open Market committee meeting. Eyes to return. The labor market is something like full employment to get inflation. Teo moderately exceed its 2% target. There's a reason for that, because we have to have a stable prices, a cz well as stable, a stable interest rates. So suffice it to say that we're a long way off. Still, because even though the fact that we've got 11 million people that have been rehired That's only half of the total job losses, and that's why the Fed, it's still sort of wringing its hands hear good news is that inflation remains well low below the 2% target. Despite The recent uptick, so we're in pretty good shape. Their markets are going to be a little bit volatile. Today's day. So buckle up coming up on 7 20
"fed reserve" Discussed on KSFO-AM
"Seventh day of September. A FN market this morning and global markets have retreated after the Fed Reserve indicated it will keep interest rates in your zero more on that in a moment. London, Frankfurt opening lower Shanghai, Tokyo and Hong Kong all declining futures down 1% orm or the fetish during a less dire economic outlook, but gave no indication of any stimulus plans. Fed chair Jerome Powell, saying the economy's recovered faster than expected, but a full recovery still depends on the ability of the government to get the Corona virus under control. In terms of fiscal policy. You ask about fiscal policy. So, um, uh, you know one thing. I guess I would start by saying that The initial response from fiscal authorities was rapid. It was forceful and pretty effective, and we're seeing the result of that in today in the income and household spending data. In the labor market data in a construction data in the data for business equipment spending and the fact that businesses are staying in business and you know the pace of defaults and things like that has really slowed. So It's there's been a really positive effect that said, My sense is that more fiscal support is likely to be needed. Course, the details or that for that, or for Congress, not for the Fed, But I would just say there are still roughly 11 million people still out of work due to the pandemic and a good part of those people were working and industries that are likely to struggle. Those people. They need additional additional support as they try to find their way and Through what will be a difficult time for them. We've also got struggling small businesses, especially those in the business of facing directly to the public, and we have staying local governments dealing with a drop in revenue. At the same time, Spending has gone up. Much of it related to the pandemic and economic effects. So again, I would say the fiscal support has been essential in the good progress we see now. And finally, I'll note that just about all the overwhelming majority of private forecasters who prove projected on going, um, recovery are assuming there will be a substantial additional fiscal support. Of course, the current virus pandemic has had a major impact on commercial real estate. PAL said. Congress will have to step in in order to help owners In addition, I would say Main Street helps businesses pay their rent, You know? So so we're we're helping real estate, you know, in a number of other ways commercial real estate. Also CMBS issue and says Resume spreads have tightened on C N B s the couple of issues. One is just that commercial properties with CMBS loans often have covenants uniformly, I think have covenants that forbid them to take on more debt. So you have a situation and you have a situation Where you without a legal change or some kind of an innovation that defies discovery so far, you you're you have a hard time. Providing mass relief with regard to real estate. That's in CM commercial mortgage backed securities. So we're still working on it. We're still looking. I would say it may be that further support for community commercial real estate. I'll require further action for Congress that audio courtesy of CNBC. Of course, many companies reevaluating their need for office space. Meanwhile, Facebook is buying a previously unused.
"fed reserve" Discussed on WBZ NewsRadio 1030
"Others were put on administrative reassignment. Now before the settlement, the city did take some actions. They passed Brianna's law, which bans no knock warrants, and it makes it mandatory for police officers to wear body cameras when carrying out A search that did not happen. In the case of Briana Taylor Taylor was shot and killed by police who were serving a no knock warrant back in March New research out of Britain about the risks of developing dementia. This study finds those who experience post traumatic stress disorder have a much higher risk of developing dementia. Later in life. Scientists analyzed more than a dozen studies involving 1.7 million people, they found those who'd had PTSD were some 60% more likely to develop dementia. Yet when the researchers looked at military veterans who'd had PTSD, the dementia risk was much lower. Since PTSD treatment tends to be most accessible for veterans. In most of the countries study, the researchers theorize that the treatment helped reduce the veterans. Enter risk suggesting that could work in the general population to Vicki Barker. CBS NEWS London 208 off the Wall Street on this Wednesday and two a day is that Bloomberg got things mixed up just a little bit right now, Andrew And we do. Most stocks are higher. When we look at the broad market, we have three times as many shares moving up versus down, But the Dow is gaining 220 has to be up 11 and that NASDAQ once again the tech stocks doing their own thing down 23 points even as the latest measure of our spending finds an unexpected slowdown in retail sales with a smaller than forecast 230.4% increase. Last month. Just a few minutes ago, the Fed reserve signaling rock bottom interest rates until at least the end of 2023. Wall Street is definitely happy about that Fed, indicating it would not raise interest rates until inflation has been higher than 2% quote for sometime. That's, according to its statement. As the Fed seeks to boost its monetary response to the pandemic. The new guidance from the Open market Committee implements a shift or Taymor market friendly long term policy stands that was endorsed by the Fed Reserve last month. Right now, the Dow gaining 219. Andrew rolled a Bloomberg business on W. B z Boston's news radio..
US industrial production slowed to a modest increase of 0.4% in August
"Economy, the day's biggest reading shows a bit of a mess. Fed reserve reports US. Total industrial production rose less than forecast 0.4% last month, signaling a more moderate pace of progress. For factories, mines and utilities. Production in factory specifically increased 1%, still a bit less than forecast and
Dan Guido of Trail of Bits - The Evolution of Smart Contract Security
"So I've been doing security stuff for the better part of my life started probably when I was about thirteen fourteen, breaking into my school computers, like when does as when does. Luckily escaped being severely punished for that but I ended up going to college for concentration program and cybersecurity. It was called politicking university when I went there, but now the Nyu School of Engineering and they have one of these NSA center of excellence programs that teach kids a formalized education in Cybersecurity I think the people that are a little bit younger than me have a lot more formalized education and people that are a little bit older than me, don't they learned? Learned from their peers, learned and kind of like a master apprentice kind of set up, so I'm right on the cusp of that, so I have a formal background in computer, science and computer security, and this is the only field that I've ever been interested in working in, so I've worked at the Fed reserve doing incident response, helping prevent people hacking into the currency reserve the United States. I've been a consultant at Isaac Partners now NC group I saw that Isaac. Isaac partners before they were acquired help start their office in the on the East Coast worked with dozens of technology companies across the globe, but I was pretty frustrated that it seemed like an unending treadmill that you kind of go back to clients year after year, and there's always the same bugs, and they don't really internalize the information that you give them. I thought that there was some improvement that we could make, and I wanted to make fundamental improvements to the. The whole field so I found a trail with two friends of mine back in twenty twelve to fundamentally advance the science of computer, science and computer security I think by and large succeeded at doing that very small ways. The company started as a Darpa contractor. We worked on for your long research programs in Automated Program Analysis and Advanced Cryptography, and then from there we've branched out to help provide those advances to commercial firms and now to blockchain firms, so that's. I guess the medium length overview of where I came from and what we're doing now. Tell us about how you got interested in blockchain as a cryptographic field. Because basically found a trade of bits and two thousand twelve, and obviously, then it was pretty new, so what exactly spoke to you about it? A couple of things I think it was really driven by employee interest there about two or three people in the company that were just really enamored with blockchain technology, because it was a Greenfield, not necessarily because it was anything that you could do with blockchain, but because the field was in its infancy, it was a chance to start over it was there were no security tools. There was no security knowledge. People were building their own programming languages building their own compilers. The execution environment looked a little bit different, so there was this huge gap of knowledge that we could rush into fill and create things that were. From the first step back about three to four years ago, we had a couple people dabbling in that area of technology, and what we contributed was a symbolic verifier. That was our very first thing. We didn't raise our hands and say hey. We'll audit your code for you. We're engineers, so we set up a little unit of people that wrote Symbolic Capable A. A theory in virtual machine, a tool that we have called manticore, and then once we were able to do that. We realized that Hey, this is actually kind of valuable and people would love to work with us to improve their own security, so because we'd already mastered the field through that activity that research activity. That's how we started offering services for
Fed Stress Test Finds U.S. Banks Healthy Enough to Withstand the Coronavirus Crisis
"Fed reserve stress tests on banks so this is what is the stress test is basically analysis conducted our hypothetical circumstances showing what would happen to a bank under economic stress deep recession financial market crisis pandemic for example most of banks did really well by the way this is done with wood for banks with fifty billion or more in assets in the required to do this every year Wells Fargo though seems like it's going to be the bank that may have dividend payments at risk if of the perfect storm came along and that's got investors a little dicey the speed to keep in mind we've been dicey for a week now amidst higher code nineteen cases so that's what's going on Doug Jones down two percent as to be down two percent to keep in mind again two percent on the S. and P. is fifty six point two percent on the Dow is five hundred sixty nine points so it's still two percent just sounds are clear on the Dow nasdaq down one point seven percent at ninety eight thirty nine so it's going to be one of those days
"fed reserve" Discussed on WSB-AM
"That as well as the fed reserve chair his comments to two thirty today and prospects for the economy gross domestic product maybe down three and a half percent at an annual rate Erik Erikson break all that down this afternoon while the weather is breaking no doubt WSP you're all this heart Miller's joins us live once again curtain break bring us up to speed on the U. your best bet for storm windows today all right Scott that looks like the higher storm window will be three PM to ten PM give or take a couple of hours on either side and that's a level two out of five threat for severe weather that's pretty standard nothing crazy or extreme high temperature today around seventy three lows tonight forty nine to fifty two tomorrow mostly cloudy to partly cloudy breezy and unseasonably cool high sixty four and then on Friday mostly sunny high seventy one lows forty eight to fifty one recapping the forecast for today turning breezy and mild a heavy shower thunderstorm ninety percent likely late afternoon and early evening high around seventy three temperatures around the area right now Alpharetta fifty eight Kenesaw sixty one Marietta sixty Lawrenceville fifty five sixty on Peachtree street I'm meteorologist Kirk knowledge ninety five point five W. S. B. six seven twelve we update the morning drive for WSP sky copter what do you see more because what do you think about it trying to work their way north lows we're following the five door pleading highway outdoor crash on the shoulder at Church Street exit forty three Bethel construction zone act to break records previously and I wake up at eight and more perilous routes to get out of a well played out that navigate tablets at thirty three lebron don three on eighty five and seventy five headed north to no worries on the downtown connector traffic brought to by the Crohn's and colitis foundation the Crohn's and colitis foundation has been at the forefront of inflammatory bowel disease research and care for over fifty years learn more at Crohn's colitis foundation dot org triple team traffic ninety five point five WSP so the lady store hours target stores sets aside eight A. M. to ninety M. for what the CDC terms as vulnerable guests on Tuesday and Wednesday senior shopping hours underway now a Kroger and Publix stores always double check at their open for business page.
Stocks open slightly lower; market is on track for its biggest quarterly decline since the fourth quarter of 2008
"And P. and nasdaq are moving into positive territory although it's a very fluid situation as we move through the morning more news on the corona front more companies reporting disruptions obviously from the on going shelter in place orders that exist around the nation meanwhile we have interest rates coming down a bit the fed reserve now supplying dollars to almost every central bank on the planet that is helping ease some of the strains in global credit markets bringing down the interest rate to structure a little bit the yield on ten year treasury a point six eight percent the dollar though is a little firmer against key foreign currencies oil prices trying to stabilize after dipping below twenty dollars a barrel yesterday gold is down sixteen dollars an ounce a lot of end of quarter portfolio adjustments being made today they're said to be some large rebalancing going on as pension funds sell bonds to buy stocks given that their asset allocation models are now a bit out of whack given the volatility we've seen in this first quarter the worst first quarter on record and the worst quarterly performance for the stock market since two
Unemployment rises as Governments Unveil Rescue Plans
"In fact global markets to have risen on hopes of government aid and central bank bailouts hoping to shield the global economy against the rising impact of the corona virus pandemic of the world shutting down the economy to stop the spread London Frankfurt Shanghai Hong Kong all advanced Friday Esther's encourage after seeing more steps by the fed reserve and other central banks as well as governments to support credit markets and the economy members of the president's economic team convened on Capitol Hill today they'll launch negotiations with Senate Republicans and Democrats racing to draft a one trillion dollar plus economic rescue package amid the corona virus outbreak what's in it his treasury secretary Steven Mnuchin I've always had I can't predict where the markets are today or tomorrow what we're really focused on is providing liquidity to American businesses and American workers I think you know this is an unprecedented situation where for good reason the government is instructed major parts of the economy it closed down so that we can win this fight against this virus this is not going to go on forever we are going to be fast and while we're doing that we understand there are impact on hard working Americans and the president is determined that we're going to support them so we've announced a trillion dollar plan the first part of this is three hundred billion dollars that goes to small businesses that money needs to be used to hiring people keeping people on the payroll and if they do there will be a loan forgiveness back afterwards B. the second component in that that's a really important that's forty percent of the private work force and we want to keep those people employed the second component in order for two business checks in the mail but that's the it's really you money direct deposited most people we have all their information and the plan is five hundred billion dollars in two tranches the first one would be a thousand dollars per person five hundred dollars per child so for a family of four that's a three thousand dollar payment as soon as Congress passes this we get this out in three weeks and then six weeks later if the president still has a national emergency will deliver another three thousand dollars so that's that's a lot of money to hard working Americans who are at home you know for all trailers and the third component is two hundred billion dollars that we can use for more facilities with the fat bike we've been doing for secured lending airlines and for other critical industries that's been modified somewhat as in the White House and Senate Republicans have coordinated their response some Republicans still object to the plan now Democrats over night said it doesn't go far enough so negotiations will happen today we'll see how quickly lawmakers can come to an agreement meanwhile applications for jobless benefits surging as concerned shake the economy the sharp increase coming as governments ordered millions to stay home and close the economy in some states the demand for help may outstrip the ability to pay claims the labor department said twenty one states started the year with unemployment insurance fund balances below levels recommended to stay solvent during a recession JPMorgan chief economist Bruce cassman telling CNBC the unemployment report not the only not report to get hit by the corona virus said he expects to see a sport team percent drop in gross domestic product in the second quarter that's
Dow dives more than 2,300 points after stock trading halted
"Markets around the world plunged after president trump announced that there would be a travel ban for thirty days between most of Europe and the U. S. then when it came time for the new York stock exchange to open the Dow Jones industrial average dropped like a rock within the blink of an eye it fell more than seventeen hundred points triggering automated circuits that stops treating for fifteen minutes when trading resumes though prices continue to fall throughout the day they fluctuated in negative territory never showing any signs of regaining the losses despite the federal reserve announcing that it was going to pump a total of one point five trillion dollars in interventions into markets when the closing bell rang the Dow was down two thousand three hundred and fifty two points a loss of ten percent it was the stock market single worst day since the crash of nineteen eighty seven black Monday at the end of the trading day the S. and P. five hundred had fallen twenty percent from its most recent high in February that meant that the longest running bull market in history was over an eleven year streak came to an end airline stocks took a major hit down anywhere from seventeen to twenty five percent oil prices continue to fall because of the drop in demand many on Wall Street now believe the fed reserve will lower interest rates further at their meeting next week possibly slashing them two
"fed reserve" Discussed on KOMO
"Fed reserve could be coming according to Goldman Sachs chief economist Jan halts yes who said a fifty basis point cut is expected this month when the fed meets he says it's because the bond market is already priced for a large move commodities time eleven sixteen what is a lot going on in the White House amid fears over the coronavirus the stock market president trump's staff which underwent a change once again last week when he announced the appointment of his fourth chief of staff join me on the committees on ABC's Karen Travers of the White House Karen who's and it won't be any acting chief of staff is now out of the president announced this in a tweet over the weekend surprising even some people in his own inner circle on the communications team and now mark meadows a retiring Republican congressman from North Carolina is in as chief of staff at meadows as it the chief of staff is not surprising but it was the training that they're only caught a lot of people here by surprise Mulvaney was only in that role as an acting chief of staff thirteen months and without the still overseeing the office of management and budget use battling a couple of jobs but the president and his relationship has deteriorated in recent months so I think it was just a matter of when not if he would be pushed aside because the U. S. special envoy for Northern Ireland in the meantime the president says he's not worried about corona virus getting closer to the White House so he's criticizing the media via Twitter today for the way they're covering the virus editing continues to downplay the warnings and even though you had officials yesterday on the Sunday political talk shows saying that yes the virus is spreading that would put the Surgeon General acknowledged on CNN after officials on Friday were saying it contains relatively contained contained the president that is blaming the media thing that they're trying to inflame the situation far beyond what the facts would warrant our chief medical correspondent Dr Ashton was on Good Morning America today and through the house by a viewer if coronavirus is being over hyped and she said based on what's been happening in other parts of the world the reaction right now here in the U. S. is appropriate from a medical and scientific standpoint all right his schedule today has been altered a bit because of coronavirus fears right the president was expected to speak at a conference the healthcare professional conference in Florida after doing some fundraising events down there before coming back to Washington the conference was canceled because of concerns about corona virus that is impacting his schedule but the White House and the president continued to say they're not concerned that it's creeping closer to the president and the White House all right Karen thanks so much for the update we'll talk soon have a great day ABC's Karen Travers at the White House come under some eleven eighteen.
Trump says Fed should cut interest rate
"That after the reserve bank of Australia cut its interest rate to a record low point five percent that caught the attention of president trump bad about what what time was it ten eleven twelve one one thirty in the morning I know because I was watching Bloomberg when they announced it and president trump tweeted there shortly after president trump taking notice of the bank of Australia there and putting pressure on the fed reserve here at home to cut
Third-quarter U.S. economic growth unchanged at 2.1%
"Following the stock market this week boy boy Sir been one rise after another all three major indices setting new record highs yesterday and joining us this morning from New York to take a look at it this Steve cast in bronze morning Steve good morning and by the way we just got news short while ago just a few minutes ago you know they they always go back to the the the commerce department would go back and looks at the GDP figures that they put out every quarter and they the they should revise them at all and they just announced that that the third quarter economic growth at two point one percent that will not be revised they're keeping it where it is so there is continued growth at a rate that the fed reserve had expected to see in the US economy so that's a that's a more positive news but yeah yesterday on wallstreet one a day impeachment has not babies investors at all and all three major indexes hit new records the Dow Jones industrial average is well above the at twenty eight thousand mark more than twenty eight thousand three hundred points right now the Dow futures are pointing to a positive opening yes to be five hundred closed above the thirty two hundred mark for the first time in it he was looking at a possible sport I guess the S. and P. five hundred is up the full twenty eight percent it's the second best year in two decades yes there's a lot of optimism out there and this is despite a V. predictions of continued slowing game the global economy the reason the optimism is there is also one there your continued anticipation for a signing of the first page deal with China we still don't know what the details of that will be and we were told to expect that soon but day yesterday we saw the passage of the trade agreement with the United States Mexico and Canada with specially is sort of tweaking nafta so it means continued free trade between the three nations that are our major trading partners and so there's some positive outlook there is a positive outlook on Wall Street its
Trump ratchets up trade war with China
"President trump is raising the stakes in a trade war with China trump tweeted Friday that is increasing the terrace scheduled to start next week from ten to fifteen percent on three hundred billion dollars worth of Chinese goods his comments came on a volatile day in the trade war China had earlier announced seventy five billion dollars of terrace on US goods should have done it a long time ago weather well then or bush or Obama and get it done something about it that they did I'm doing good and I have no choice because we're not going to lose close to a trillion dollars a year to China and wrote made two tweets that rattled investors the first ordering American companies to find alternatives to doing business in China and the second wondering who is the bigger enemy Chinese president xi Ching paying or fed reserve chairman Jerome Powell in the meantime the president has landed in France for the G. seven economic summit the annual summit is being hosted this year by French president Emmanuel McCrone the leaders of Britain Canada Germany Italy and Japan will also be in attendance they're expected to discuss trade the environment any quality brexit and the possible reinstatement of Russia among
"fed reserve" Discussed on KQED Radio
"Wondering of the yield curve inverted for the first time since two thousand seven right now our focus like a lot of people on this yield curve in version is waking up this morning to a recession warning from the bond market well we would say is the yield curve in version is somewhat of a warning shot or it's fast for the fed ex telling us that market participants are forecasting slower economic growth in the future well the man who first wrote about the inverted yield curve and what it means is Campbell Harvey he's a professor of finance at Duke University so what is an inverted yield curve and how did you come up with that so I was a student in Canada and I was in the summer job at a mining company and the press the coppers very correlated with the business cycle in bad times the price plunges in good times he goes out and they were really interested in some sort of model that could give them some advance warning of a recession so I started looking at financial information because they knew the stock market and the bond market were windows into the future its value today based upon your expectations of what's going to happen into the future so my exploration of the bond market led me to the yield curve in the curve is simply the difference between interest rates that are long maturity let's say ten years in short maturity so you've got a bond that might be ten years to maturity and it's got an interest rate today and you've got something shorter maturity like three months treasury bell so the longer term rate is almost always higher than the short term rate because you're locking your money in for a longer period of time that's the normal sort of yield curve that we observe historically but in certain unusual situation to get what's known as the yield curve and version with a short rate is actually higher than a long break in that inversion I discovered in my dissertation nineteen eighty six was almost always associated with bad news in the future bad economic news so it usually meant a recession was on the way it was followed by a reception yes exactly so I studied the yield curve and versions from the nineteen sixties through the nineteen eighties and I found that these you'll Kerr conversions preceded for of the four recessions that I studied afterwards the US experience three recessions after my dissertations each one was preceded by a your current version can you explain then why and invest Yoko means a recession is coming what the logic is that the idea is fairly simple the safest asset in the world is the US treasury bond and the bellwether treasury bond is the ten year US treasury bond if people believe that that there is an increased risk of recession there is a flight to quality and people focus on that ten year bond so people start to buy that bond in the price of the bond goes up in the yield goes down that is the force that leads us to a yield curve and version so what you make of the current yield curve in version do you think it necessarily means a recession is around the corner so basically the model is suggesting that economic growth will decrease is it possible that it's a false signal yes this is a very simple indicator it's a single indicator it's got a great track record there's no reason to think that the indicators broken but this is a simple model and of course it could be a false signal and that's why I usually encourage people to look at other information right because the other information at the moment is that the stock market isn't doing too badly that US economic data doesn't look too bad so it is confusing isn't it right right now your correct for example US unemployment is near sixty year low but employment is a lagging indicator and even things like corporate profits them telling of about the past where is the yield curve indicator is telling you something about the future I mean they're all people who say that paying that much attention to the yield curve version it becomes a self fulfilling prophecy that banks look at this particular indicator then decide they will lend less of them because they're lending less that causes a recession yes so might model originally is not a model of causality it's a model where the yield curve is reflecting expectations of economic growth it's not causing a recession however your point is excellent that is now given all the publicity it's getting could be a self fulfilling prophecy consider the CFO debts thinking of building a new plant the company's going to borrow a lot of money to do that and feel Qurban birds so in one scenario you ignore it borrow less money a recession happens you go bankrupt people get laid off another scenario you look at the conversion said well maybe it's not the right time to borrow a lot of money to make this expenditure let's wait and then the firm weathers the recession so I think that what this does this you'll Kirk indicator is a way for both companies and consumers to do risk management some discover gravity others the inverted yield curve professor Campbell hobby that so central bank is at the Jackson Hole meeting today will be worrying about the risk of recession based on not what can they do about it well that brings us to another concern traditionally central bankers have done the technical side of managing an economy tweaking monetary policy by Justin key interest rates and more recently and controversially buying up lots of assets through quantitative easing in other words pumping money into the global financial system but look around the world and pretty much everywhere interest rates are about as low as they can go well small quantitative easing doesn't appear to have done much to ward off a slowdown in Europe which begs the question what tools if any to central bankers have left of battle a possible recession back to regret sat rocking this is really the topic of the moment the US has a little bit more room for maneuvering because that positive interest rate about the euro zone in Japan that have very little room for maneuvering the interest rate that ready negative this is an exceptional situation and although in principle monetary policy is very powerful the new type of interventions will have to be even more creative and Hank and possibly controversial than what has been done in the last ten years so what you have in mind I mean we you know see central banks in the jargon printing money quantitative easing basically buying assets but could you imagine central banks handing out money directly to consumers well I mean that this is something that is being discussed now when you give money directly to the people in the permanent weight okay so you go to a person I say I'll give you one hundred pound forever this is very equivalent of a tax cut okay so I will call these fiscal policy and so the big question is who should do this kind of policy should be the government to so the budgetary authority or the central bank but that's tough as Nick is politics of the moment is so incredibly dysfunctional exactly so I think that this would be very difficult but you know this is a moment in which mounted in fiscal policies actors showed that try to coordinate and is very difficult to think like a good constructive fact bays coordination between treasury and the central bank in the United States these days for the euro area we have our own problems because of course we have a federal central bank and the fiscal policy is still a national so that's also very difficult to coordinate soul I think this is a very interesting interesting Mahomed for people in my kind of professions because you know everything is new and everything has to be rethought I said look it's yeah rifling well with the Trainspotting China's these of recession and president trump putting so much pressure on the fed investors in financial markets will be playing paying close attention to that speech let's today at Jackson Hole by the fed chairman to Rome Powell among them will be C. much shop she's she's strategist at principal global investors here in London the key thing that we've seen in the lost I think ten months from the fed is that they really struggled in press conferences and that communication has managed to confuse markets so we are hoping that they have realize it is can be very key to give a very clear message to markets about whether think the economy's going and what the planning for a policy rates careful when you talk about the messages coming out the federal reserve being confusing it's not down to the political climate in which its operating yeah that's a very good question now at the same time as investors feel like they've been whipsawed by president trump's tweets and the trade rule the chance of the fed reserve has also been with so so it's very difficult for them to have a clear idea of what the economy is getting on that's partly because the trade will come be so significant that it could not she pushed the US intercession if it is prolonged if there are further tariffs and maybe all the matches do you think it's delivered to think that president trump is deliberately muddying the waters making it difficult for the federal reserve because he wants the rate cut happen now in preparation for elections next year it's one of those areas which is very very gray it's sunny is imprisoned trumps interest to have interest rates lower to make the rest of the economy stronger and so I think when he sees a number of other countries around the world already cutting rates he feels that the fed should do the same the one thing I would say is if we look out to twenty twenty elections next year what would be ironic would be present trump keeping this tribal gathering which then prompts the fed to cut rates more aggressively than they would have and then it may be in the first quarter of next year announces an end to the tribal which creates a great boost and stock market in perfect timing for next year's election that would be very convenient for the current American administration that was seen as Shaw there up to principal global investors here and in London she ends this edition of business daily today's producer was Lawrence night do get in touch the Twitter handles our acts BBC world Basil act Manuela BBC business daily is back again on Monday to join them you're listening to the BBC world service and now.
All Eyes on the Fed Amid Potential Rate Cut
"And all eyes are on the fed reserve fed reserve that meeting the board members meeting to discuss a potential rate cut now fed reserve vice chair Richard klar Rita who will have a vote to will have a say on the matter I told the fox business network the economy is in a good place but uncertainty has increased that not only abroad but here at home it was a calm isn't a good play good good place we have a solid growth rate we have a strong labor market you know inflation is is stable but uncertainties about that outlook have increased and we talked about that the global economy's slowing lonely business investment has been soft their disinflationary headwinds abroad in these uncertainties are something that we talked about in our June meeting we'll talk about him again in July and what we said Liz is that we will act as appropriate to make sure we're doing what we can to sustain a stronger economy and stable inflation there are targets I am going to try and breaking away from the actors trying yeah because I want more detail you know yeah four weeks ago after that June meeting you publicly said that the case for the fed to step in and provide accommodation a rate cut it is had increased yeah today sitting here now for weeks later has that case been strengthened or weakened I think from my perspective Liz the reality is is that the economy is in a good place we want to keep it there we've had Nixon data but I do think to me the global data has been disappointing on the downside dissonant disinflationary pressures of anything I think are more intense than I thought six weeks ago on the other hand we have a strong labor market reports of that that's great so there's a range of data that we get and we'll be talking about that our July meeting he just said disinflationary for installations right forces yeah I want to get to inflation in a minute but stick with the United States now what do you see that concerns you here well what I see is that inflation data has been coming on the soft side we would like inflation to be two percent and to be symmetric around that two percent and it's been running a little bit short of that the headline GDP number was very strong Q. run that's great but the underlying detail was a little bit soft again we have some we can vestment not many expect the central bank to cut its interest rate for the first time in about a
"fed reserve" Discussed on KDWN 720AM
"Are their own and do not necessarily reflect the views of this station its management or beasley media group Washington to Wall Street. America's First News with that is of the. Good. good morning this is america's first news says six minutes past the hour on this twenty six day of june it is a wednesday and we start with breaking news this morning the controversy over the special counsel's report on russian election interference in the trump campaign getting a new jolt house democrats say special counsel robert muller's agreed to testify publicly next month before two committees now as only public statement on the two year probe came last month when he sought to explain his decision not to indict president trump or accused him of criminal conduct of the back to back committee appearances are set for july seventeenth meanwhile congressional showdowns looming over a border aid package to care for thousands of migrant families and unaccompanied kids detained after crossing the border now democrats on tuesday night past their measure calling for four and a half billion in aid the vote following mainly along party lines but the republican led senate may balk at the house bill and instead try to force democrats descend president a different measure there's already been a veto threat from the white house a grim photo of a drowned father with his twenty three month old daughter tucked into his shirt lying face down in shallow water of the rio grande providing a disturbing reminder of the dangers confronting many migrants trying to reach the u._s. mexican authorities and relatives back home in el salvador say man had become frustrated by being unable to present his family to u._s. officials to apply for asylum he and his daughter drowned and trying to swim to the texas side that is according to accounts from the family of president trump's son-in-law and senior adviser jared kushner appealed tuesday for palestinians to consider a fifty billion dollar economic support plan even though they already rejected the proposal because it doesn't include a resolution to the long-running conflict with his railly's kushner speaking at a conference in bahrain defended the proposal as the foundation of any eventual peace plan despite with those who have let you down in the past tell you president trump and america have not given up on you that is why agreeing on an economic pathway forward is a necessary precondition to resolving what is it previously unsolvable political situation some people have mockingly called this effort the deal of the century but at its core it is not just about making a deal in fact this effort is better referred to as the opportunity of the century u._s. officials say the political portion of the plan addressing thorny issues may not be released until fall fed reserve chair jerome powell says the economic outlook has become cloudier since just may with rising uncertainties over trade and global growth causing the central bank to reassess its next move on interest rates powell spoke to the council on foreign relations in new york on tuesday when the f._o._m._c. met at the start of may about eight weeks ago tentative evidence suggested that these cross currents were moderating and we saw no strong case for adjusting our policy rate since then the picture has changed the cross currents have reemerged with apparent progress on trade turning to greater uncertainty and with incoming data raising renewed concerns about the strength of the global economy our contacts in big business in agriculture report heightened concerns over trade developments he's concerns may have contributed to the drop in business confidence in recent surveys and maybe starting to show through to incoming data for example the limited available evidence we have suggests that investment by businesses has slowed from the pace earlier this year against the backdrop of heightened uncertainties the baseline outlook of my f._o._m._c. colleagues like that of many other forecasters remains favourable with unemployment remaining near historic lows flation is expected to return to two percent over time but at a somewhat slower pace than we foresaw earlier this year however the risks to this favourable baseline outlook appear to have grown powell says the feds now grappling with the question of whether those uncertainties will continue to weigh on the outlook and require action possibly an interest rate cuts and american consumers are feeling less confident this month as heightened trade tensions of taking their toll on spirits the conference board says its consumer confidence index fell to a revised one twenty one point five in june after rising in april and may june reading the lowest since september of twenty seventeen the head of the massachusetts motor vehicle division has resigned for failing to terminate the commercial driver's license of a man who's collision with a group of motorcyclists in new hampshire left seven dead the suspect pleaded not guilty yesterday to seven counts of negligent homicide a department of transportation secretary and c._e._o. stephanie pollack said in a letter that the r. m. v. failed to act on information provided by the connecticut department of motor vehicles about a may eleventh incident involving the driver that should have cost him his license as a result she accepted the resignation of aaron deputy four behind.
"fed reserve" Discussed on KDWN 720AM
"Good Thursday Morning, America's First news continues. It is the twentieth day. Af en markets this morning in Asian shares were higher today with the Shanghai, benchmark up more than two and a half percent after the fed reserve here at home. Reaffirmed appeared to cut interest rates needed shield, the US economy from trade, conflicts or other threats here at home. Well modest gains the ten year treasury notes slid one point nine eight percent. That's lowest level since November of two thousand sixteen that is investors. Bet on at least one interest rate, cut this year possibly as early as July the S and P five hundred rose point three percent within striking distance of its all time, high on April, thirtieth, the SNP settling Wednesday at twenty nine twenty six the Dow game point one percent, the NASDAQ added point four percents now the fed reserve as I mentioned, left its key interest rate unchanged Wednesday. But signalled it's prepared to start cutting rates if. Needed to protect the economy from trade, conflicts and other threats fed. Reserve chair Jerome Powell says at frets to the economy have emerged in recent weeks, since the beginning of the year, we've judged that our current policy stance was broadly appropriate and that we should be patient. Innocent need for any changes in light of increased uncertainties and muted inflation pressures. We know emphasize, the committee will closely monitor the implications of incoming information for the economic outlook and will act as appropriate to sustain the expansion with a strong labor market and inflation there, it's two percent. Objective. In the weeks, since our last meeting, that cross-currents every emerged growth indicators from around the world have disappointed on net raising concerns about the strength of global economy, apparent progress on trade, turn to greater uncertainty, and our context in business and cultural report, heightened concerns over trade developments. These concerns may have contributed to the drop in business confidence in some recent surveys, and maybe starting to show through to incoming data risks in financial markets as deteriorated as well against this. Backdrop inflation remains muted after running close to our symmetric two percent of for most of last year. Inflation declined in the first quarter data since then show, some pickup participants broadly inflation moving back up toward our two percent of of, but at a slower pace than had been expected, the central tendency for two thousand nineteen core inflation, which emits volatile food and energy components is between one point seven and one point eight percent, setting aside, short term fluctuations committee. Participants expressed concerns about the pace. Inflation's return to two percent. Many analysts think the central Bank will wait until it September at the earliest to announce it's I dropped since two thousand eight might not cut again until twenty nineteen about a few fed watchers foresee no cut at all this year. Specially if the US and China, some tentative resolution to the trade war Trump administration bargainers offered a one year budget freeze and said, democratic spending demands remained too high as talks with congressional leaders aimed at averting deep cuts in defense in domestic program. Seemed no close to a resolution Wednesday after White House chief of staff. Mick Mulvaney took shots at former house speaker or excuse me current. House speaker Nancy Pelosi. Democrats White House involvement in the negotiations with hindering progress and rejected the proposed freeze without some agreement overall spending would be slashed by one hundred twenty five billion starting next year, roughly ten percent reduction in agency, budgets, that both parties consider to Jakonen lawmakers have reached a deal with the senate's Republican leader on more than a dozen resolutions and blocking the Trump administration sale of weapons to Saudi Arabia majority leader, Mitch McConnell. Announce the Senate will here and debate vote on the resolutions today at the move to block. The sale was launched earlier this month by Senator Bob Menendez. The top democrat on the Senate Foreign Relations committee, angers been mounting in congress over the Trump administration's close ties to the Saudis fueled by the high civilian casualties in the Saudi led war in Yemen, and the killing of US-based columnist for show e by Saudi agents airline union leaders and a famed former pilots say Boeing made mistakes while developing. The seven thirty seven max and the biggest not telling anybody about the new flight control software. So pilots could train for it. Chesley sully sullen burger, who landed the crippled airliner safely on the Hudson in two thousand nine and captain, Daniel Kerry testified Wednesday as lawmakers look into the FAA approval of the plane that's been involved in two deadly crashes, precious are demonstrable evidence that our current system of aircraft design and certification has failed us. These accidents should never have happened from my fifty two years of flying. Experience in my many decades of safety work. I know that we must consider all the human factors. He's accidents and how system design determines how many and what kinds of errors will be made and how consequential they will be these two recent crashes happened in foreign countries. But if we do not address all the important issues and factors, they can. Can and will happen here. We should all want pilots experienced these challenging situations for the first time in a simulator and not in flight with passengers and crew on board and reading about it on an ipad is not even close to sufficient highlights must experience physically firsthand. If we don't learn from these crushes if we just file the finding on away on a show together dust, we will only come pound these tragedies improvements in aviation are often too often written in the blood of the unfortunate victims of these airplane accidents. But all of us pilots flight attendants airline companies manufacturers, the executive branch of our government and congress. Oh, it's the victims at the highest level of diligence to make sure these kind of accidents never happen. Again, that hearing unfolded in Washington. The head of the pilot's union, it Southwest Airlines, Dallas at his group will seek compensation from Boeing for lost flying assignments, and the cost of complying with. Justice department subpoena for its records which are part of the governments of criminal investigation into the airliner. Well, it's happened again, the airline maker, I should say it's happened again this time to Florida city for the year, a beach, the latest, I guess, company or even jurisdiction to fork over money to hackers to regain control of a hijacked computer system, the city agreed to pay six hundred thousand in ransom, now the city council voted unanimously this week to give in believing it had no choice. If it wants to regain access to its records, which the hackers encrypted the Palm Beach suburb had already voted to spend almost a million on new computers and hardware after hackers captured the city system, three weeks ago, the hackers apparently got into a winning employees clicked on an Email link that let them upload Mauer, phishing scams, phishing scams. And McDonald's has started a transatlantic barbecue feud, if you will. With the introduction of its Kansas City theme burger in the United Kingdom, outgoing Kansas City, Missouri. Mayor sly James told McDonald's to stay in its lane on Tuesday in a tweet that included a picture of what he says a real burger. Looks like Kansas City, of course known for its dry. Rub. Slow cooked meats, sometimes drizzled in tomato, molasses sauce..
"fed reserve" Discussed on KSFO-AM
"Good Tuesday Morning, America's First news continues on this eighteenth day of June. Af en markets this morning. Asian stocks were mixed today as caution set in ahead of interest rate decisions by the fed reserve and other central banks. Japan's Nikkei eased South Korea's coffee was up slightly Hong Kong. Hang sang was up as well. The Shanghai composite slightly lower shares rose and Taiwan and most of southeast Asia here at home on Monday. The SNP edged up the Dow also rose and the NASDAQ climbed point six percent Russell two thousand of smaller companies stocks it was up a little more than a half percent as well. Will he won't? He fed reserve chair Jerome Powell. Tantalizing. The financial world with the prospect that the Bank may soon cut interest rates for the first time in over a decade when the fetish us policy statement Wednesday in Powell hall that do suffer said the message is likely to echo, a theme already struck. The fed will act if it thinks the trade wars are threatening the US economy. However, Jim Tierney with US concentrated growth and Andrew slimming of Morgan Stanley told CNBC. They don't expect any rate cuts. I don't think the fed does anything on Wednesday. Look at the last eight no quarters, no cut last eight quarters. We've average three percent GDP growth and we've had three quarters that world low two percent growth quarters. We're in a growth slowdown. Is it permanent or temporary in the temporary camp? And the fed shouldn't jump to reassure the market here. They've done enough so far. They don't need to cut on Wednesday Sandra. Do they cut on Wednesday? Well, I look, I, I doubt it but it's all that how they indicate. But I think that if, if it was a bigger concern, you wouldn't have the market within two percent of an all time high. There's a lot of negative in yet. The markets is very resilient. I don't think this is just the story of well the the market thinks the Fed's gonna cut rates. I think there's a much deeper story of why the market is so resilient, which is what well you know what? No look. I think we're going to have a re-test the low. We had may this summer. So first of all, say that, but what no one seems to discuss is the market is at the same level. It was in January of two thousand eighteen we have gone nowhere for seventeen months, and when that happens the level of bearish this filled and what happens if like a beach ball holding underwater, eventually that beach ball is going to pop out of the water. We've been. Going nowhere for a long time. And I think that's the story of why the market is so resilient as that so many people have grown very bearish, even though the markets hanging in there. So I think I don't think it's just about the fed. I think it's about positioning is very, very negative right now now outside of trade conflicts. The manufacturing sector is weakening on Monday. The fed Reserve Bank of New York reported that an index it compiles plunged this month into negative territory, Lockheed Martin is spending one.
"fed reserve" Discussed on KDWN 720AM
"Good Tuesday Morning, America's First news continues on this eighteenth day of June. Af markets this morning. Asian stocks were mixed today as caution set in ahead of interest rate decisions by the fed reserve and other central banks. Japan's Nikkei eased as South Korea's kospi was up slightly. Hong Kong's Hang sang was up as well. The Shanghai composite slightly lower shares rose and Taiwan and most of southeast Asia here at home on Monday, the S and P edged up the Dow also rose and the NASDAQ climbed point six percent Russell two thousand of smaller companies stocks that was up a little more than a half percent as well. Will he won't? He fed reserve chair Jerome Powell. Tantalizing. The financial world with the prospect that the Bank may soon cut interest rates for the first time in over a decade when the fetish use a policy statement Wednesday in Powell hall. Do suffer said the message is likely to echo, a theme already. Struck the fed will act if it thinks the trade wars are threatening the US economy. However, Jim Tierney with US concentrated growth and Andrew slimming of Morgan Stanley told CNBC. They don't expect any rate cuts. I don't think the fed does anything on Wednesday. Look at the last quarter's no cut last eight quarters. We've every three percent GDP girls and we've had three quarters that were low two percent growth orders. We're in a growth slowdown, is it permanent or temporary? I'm in the temporary camp. And the fed shouldn't jump to reassure the market here. They've done enough so far. They don't need to cut on Wednesday. Do they cut on Wednesday? I'll look I doubt it but it's all that how they indicate. But I think that if, if it was a bigger concern, you wouldn't have the market within two percent of an all time high. There's a lot of negative. And yet, the markets is very resilient. I don't think this is just the story of well the, the market thinks the Fed's gonna cut rate. I think there's a much deeper story of why the market is so resilient, which is what the you know what? No look, I think we're gonna have a re-test the low we had may this summer. So first of all, say that, but what no one seems to discuss is the market is at the same level. It was in January of two thousand eighteen we have gone nowhere for seventeen months, and when that happens the level of bears this filled. And eventually, what happens, it's like a beach ball holding underwater, eventually that beach ball is going to pop out of the water. We've been going. For a long time. And I think that's the story of why the market is so resilient as that so many people have grown very bearish, even though the markets hanging in there. So I think I don't think it's just about the fed. I think it's about positioning is very, very negative right now now outside of trade conflicts. The manufacturing sector is weakening on Monday. The fed Reserve Bank of New York reported that an index it compiles plunged this month into negative territory, Lockheed Martin is spending one.
"fed reserve" Discussed on KDWN 720AM
"America's First news continues on this eighteenth day of June. Af en markets this morning. Asian stocks were mixed today as caution set in ahead of interest rate decisions by the fed reserve and other central banks. Japan's Nikkei eased South Korea's coffee was up slightly Hong Kong. Hang sang was up as well. The Shanghai composite slightly lower shares rose and Taiwan and most of southeast Asia here at home on Monday. The and SNP edged up the Dow also rose in the NASDAQ climbed point six percent Russell two thousand of smaller companies stocks it was up a little more than a half percent as well. Will he or won't? He fed reserve chair. Jerome powell. Tantalizing. The financial world with the prospect that the Bank may soon cut interest rates for the first time in over a decade when the fed issues policy statement, Wednesday in Powell, hold that news conference, the message is likely to echo, a theme already str-. Doc, the fed will act if it thinks the trade wars are threatening the US economy. However, Jim Tierney with US concentrated growth and Andrew slimming of Morgan Stanley told CNBC. They don't expect any rate cuts. I don't think the fed does anything on Wednesday. Look at the last quarter's no cut last eight quarters. We've ever three percent GDP growth and we've had three quarters that were low two percent growth orders. We're in a growth slowdown, is it permanent or temporary? I'm in the temporary camp. And the fed shouldn't jump to reassure the market here. They've done enough so far. They don't need to cut on Wednesday. Andrew today cut on Wednesday. Either. I'll look I doubt it. But it's all that how they indicate. But I think that if, if it was a bigger concern, you wouldn't have the market within two percent of an all time high. There's a lot of negative and yet the market is very resilient. I don't think this is just the story of well the, the market thinks the feds gonna cut rate. I think there's a much deeper story of why the market is so resilient, which is what well you know what? No look. I think we're going to have a retest of the low we had may this summer. So first of all, say that, but what no one seems to discuss is the market is at the same level, it was in January of two thousand eighteen we have gone nowhere for seventeen months. And when that happens, the level of bearishness build an eventual what happens if like a beach ball holding underwater, eventually that beach ball is going to pop out of the water, we've been. Going nowhere for a long time. And I think that's the story of why the market is so resilient and that so many people have grown very bearish even though markets hanging in there. So I think I don't think it's just about the fed. I think it's about positioning is very, very negative right now now outside of trade conflicts. The manufacturing sector is weakening on Monday. The fed Reserve Bank of New York reported that an index it compiles plunged this month into negative territory, Lockheed Martin is spending one.
Fed Chair Powell: Business debt is rising but does not pose a threat to the system
"Fed reserve chair Jerome Powell says a sharp rise in corporate debts being closely monitored. But currently, the fed doesn't see the types of threats that triggered the oh, eight financial crisis in remarks remarks prepared for banking conference in Florida says views about riskier, corporate debt known as leveraged lending range from. Quote. This is a rerun of the subprime mortgage crisis to nothing to worry about
Trump will nominate former adviser Stephen Moore to Fed Reserve
"President Trump says you'll nominate Stephen Moore to fill the vacancy on the board of the fed reserve Moore's an economic policy analyst and fiscal conservative. Who's been also critical of bed chair Jerome Powell more joins Fox News and talks about what he's going to try to implement on the board. I will try to pursue promote policies that that that increase wages and increase growth in. Berry. That's my whole agenda. Here is what what makes Merican businesses in American workers better off
Yellen Says Trump Doesn't Understand Economic Policy
"Former fed reserve chair Janet Yellen says she doubts President Trump has a good grasp of economic policy or even knows the fed reserves mandate. And she said President Trump has made various inaccurate remarks about the feds such as that the central Bank has an objective for the exchange rate for the dollar that's aimed at supporting the president's trade policies asked in an interview this week, if she felt Trump had a grasp of macro economic policy Yellen said, no, I do not the comments marked her most pointed criticism of President Trump since he decided not to nominate her for a second term as