18 Burst results for "Federal Market Committee"

"federal market committee" Discussed on Marketplace with Kai Ryssdal

Marketplace with Kai Ryssdal

07:16 min | 8 months ago

"federal market committee" Discussed on Marketplace with Kai Ryssdal

"Met outside and daily. I should tell you was early. Which kind of caught me unawares. A little awkward. I just got my coffee. Water here was lake merritt right in the heart of as to see fist elbow blessing we started with how she's feeling about the economy. Not so bad is the short answer. Delta of course still being charged. And then i asked about the i word. How do you factor in the inflation thing. Because yes transitory blah blah blah but people are noticing. Well sure they're noticing because they're paying for food gas Travel you prices or higher right in people's pocketbooks. And if you look at ron my community in oakland as you know there are many low and moderate income components oakland. They feel it. What i also know though is that they want jobs and the balancing act we have is between looking through some of the shocks to inflation keeping your eye eighteen months from now and his covert roles off. We're going to see inflation. Come down that's my hope. I gotta keep data dependency. That's what i see. And then those individuals are going to do to engage and get in the labor market. That's what we need or are you whistling past the graveyard or you reasonably confident. I am more confident than whistling past the graveyard for sure. But i also recognize that confidence right now you need also a lot of humility. We are in one of the most uncertain times in my memory at the fed. I've worked here twenty five years doing this type of work boy. The world is uncertain. And so you have to keep your eye on the data and keep watching. What do you do with that uncertainty. The federal reserve is as you know as well as anybody a and i say this without trying to be awarded you guys are tightly controlled organization And there are so many things now that are outside your control. What do you do with that. Well you know it's interesting. I think we do have that Characterization tightly controlled but here's what we really are. We are responsible for taking what comes so we are agile. We have to watch. And we can't overreact to say nothing bad is happening. We're good or everything bad is happening. We have to raise rates to ratchet it back neither one of those extreme postures as reactive ones would be good. I wonder if How to ask this question in a way that that won't But you i. I wonder well i wanna i wanna be fair in the questioning right. Cheer powell and and members of the fomc and regional fed presidents spent a lot of time in the beginning of this pandemic saying you know what we got it. Where here it's okay. It's going to be transitory. And maybe it's not we don't know yet and so it is absolutely understandable to me. That people are worried. I completely get it because there is this perception. That transitory means quick to recede. But it doesn't mean quick to recede. It means unlikely to persist when covert has passed us unlikely to persist when the supply shocks have moderated will last longer than we want. Absolutely i'd say it already has. Does that mean it will be here forever or that. We're behind the curve. Not in my judgment. Let me take a little turn now to the fiscal agents and and to the politicization of the american economy we are we are approaching a debt limit I'm gonna use the word crisis on purpose Howard are you well if we get close to debt limit and there is no sense that it's going to be resolved. I am worried because we really can't afford more shocks to the economy. We still are in recovery mode. So i would consider that a tremendous crisis could have devastating effects on the financial system. And i just go to bed each night having the faith in our elected officials that they'll do the right thing. Okay this question's gonna get me in trouble. But why do you have that faith. I mean the evidence is kind of against you. I see time and time again that even though people Battle off and have this. You know sensitive brinksmanship when we get right down to it. They recognize that if we default on our debt there are lasting consequences that we had not only to ourselves not only today but to future generations. We depend on others thinking that we're trustworthy in paying our debts. That's a commitment. That i i just have to believe. Every official takes to heart back to the idea of the federal reserve being a controlled organization I'm sure you all spend a lot of time. Thinking about your. I know you do spend a lot of time thinking about your communications speeches. You gave speeches. Other fed presidents give speeches members of the federal market committee of and interviews. When when you and your or i guess people came to you and said hey listen. Marketplace wants to talk. what's the calculation. Who are you trying to get to in your communication strategy. That's terrific that's terrific question in my world and now you're gonna call me naive or maybe a pollyannaish but i want to reach every american because ultimately our work is about every american so when my team comes to me and says people wanna talk to you i say where are they in the span of people that we need to reach because if we only talk to people who already knew who we are that we've reached no one. I'm trying to reach people who might say mary. I don't really see what you're doing and in fact my prices are going up in my house. I it's hard to afford. And what are you doing for me. Those are the people. I want to talk to another question about. The fed is an institution No matter how well you communicate you all have to be trustworthy. There have been some incidents the last ten days two weeks with robert kaplan at the dallas fed and eric rosengren boston The inspector general. The fed is is looking at this The the trades and the trustworthiness. What's your reaction. Trust is our most important tool. If we don't have the people's trust then nothing we do will matter because if you think about monetary policy and how it works it works because we say we're going to lower the interest rate and it transmits through the marketplace people have to know that we're doing our work for them not for our own prophet so this has been a very disappointing couple of weeks and i take it extraordinarily seriously and i welcomed the review that we're doing because ultimately what i want to be able to do is look not congress or others in the i the average person and say you can trust me when you heard about kaplan and rosengren. Did you say they gotta resigned. I gotta go you know. I really work on this principle. That people themselves will do the right thing. And i don't offer my judgment. I offer my support for doing the hard work. We need to do which is to build back. Whatever trust we've lost trust is not something you get.

fed oakland merritt fomc ron federal market committee of an powell Howard dallas fed eric rosengren robert kaplan mary boston rosengren kaplan congress
"federal market committee" Discussed on CNBC's Fast Money

CNBC's Fast Money

07:55 min | 9 months ago

"federal market committee" Discussed on CNBC's Fast Money

"It all down starting at six. Pm eastern and we start this hour with all those fed headlines at sent markets soaring today. The s. and p. nasdaq closing at new records. The dow jumping more than two hundred points. This is jerome. Powell seemed to set a timetable for the taper but tamp down expectations for any rate hikes. Let's get right to see policeman who's been following all the action in the virtual jackson hole this year steve. Yeah virtual jackson hole where real impacts on the market says you said fisher j at outright. He expects the fed would start tapering later this year if the economy continues to improve but he left him so flexible by not offering us specific month for the announcement or the beginning of the taper. Powell said inflation it's passed the test to start tapering employment on the way to a passing grade. The outlook for the labor market has brightened considerably in recent months after faltering last winter job gains have risen steadily over the course of this year and now average eight hundred thirty two thousand over the past three months of which almost eight hundred thousand have been in services. Powell said the delta very represented a risk. But he's still expects good job growth in the months ahead. That inflation will likely prove to be transitory. In that rate hikes require a higher standard than tapering does but members of the federal market committee interviews on. Cnbc right here. they're pretty definitive. It was time for the fed to ease back on the throttle. my view would be. Let's start to taper and let's let's do it quickly. Let's not have this linger you know the last time we did the taper. The economy was in a much weaker position than it is right now. And because of that there was some uncertainty that the taper itself could trigger some some weakness further weakness in the economy. I just don't think we're in that position now so a lot depends on that coming august jobs report. We'll get that next friday at how much his committee your house committee. And it's time to go now. A taper could be not september or november. But it's clear leslie it's coming. Thank you st. We appreciate it and all of your hard work throughout the week. It's been a busy one for you. We have an after hours. Actually we are going to start trading What happened with the fed this week. Tim what do you make of the comments. And what is kind of pulling back of these asset purchases mean for the prospect of volatility in the market. So i wanna be clear. More more fed or less less accommodation or some tapering equals more volatility. But as you saw this week and really where we were from early last week volatilities off almost forty percent so the market heard powell today. Sit look for every reason not even to be tapering. Running at odds with six other fed presidents who came in and steve interviewed all day. Seemed like it was a parade of regional fed presidents that said not only. Let's hike but let's begin tapering. Excuse me not hike taper. But but let's do it as soon as possible so Powell went out there to also point out that. Yeah i think we've hit two percent inflation. No kidding but is it sustainable. So he keeps moving the goalposts. I think and for the markets that's great news and if you look at what outperform this week. It wasn't necessarily stocks that were beneficiaries of a lot of liquidity. So i would argue high multiple stocks and stocks that might benefit any slower growth environment. Where the feds more active. You saw look not just energy. We'll talk about that. But i think you saw industrials transports banks as we saw yields move. Higher in the sense is the economy really is recovering and that the delta very at least in the short term were the headlines keeping some of those sectors back for the last sixty eight weeks if the fed stays out of the way and again yes big payroll number next friday. But i think the has more room to run jeff. Do you agree with that. Especially if there is some kind of surprise between now and september that changes the direction of you know what at this point in time seems like just a given that the fed will begin tapering this year. I think that's the key that it is a given steve said at tapering is coming and the market knows that and i don't think he said anything today that changes the markets. Mind relative to the timeline. For any sort of monetary tightening clearly divorced tapering from rate hikes. I think that's pretty important. So whether tapering happens in november or december you're not going to see rate hikes until the end of twenty twenty two at the earliest. And what i think that means is probably a steeper yield curve and a market that is able to accept its fate which is tapering coming over. The next couple of months and Tim mention what led this week. I thought what led today was particularly interesting because i would have expected long-term rates to drift a little bit higher. The curve stephen for the opposite happened so so you might have a little bit of a different read on how the market was interpreting this. But one thing. I'll say about the ten year treasury. There was a lot going on in the options market today relative to some expiration so i think the volatility and the ten year might not be the right read. I think what you saw. In the equity markets in terms of how investors are interpreting. This is the right revalue marginally underperforming but banks outperforming performing mid-cap small-cap outperforming by a lot international outperforming. So i think that's the read on how the market's interpreting what happened today with the fed. See you nodding. Do you like jeff's assessment of the right read the markets responding in the way they should just to tim jeffs points. We had as tim said. Six fed officials. Come out being uber. Hawkish i would say relative to what we've seen as of late and you're you're heard share powell sort of thread the needle on what he had to say. And to steve's point he showed flexibility the ability to sort of thread. The needle between what everyone thinks should be done. And what will be done. And i think the takeaway for the market as we've seen another fifty to fifty second high for the market for the year is that it's going to be accommodative. We're going to see easy. Money the punch bowls not getting removed. You will see. I think he's done an excellent job. At communicating taper does not equate to a rate hike. And when you look at this leslie when you look at the ten year to jeff's point we had a high of a one spot seven four percent alot of one spot one seven. The middle ground is one spot four five percent so we're still in this pretty goldilocks environment as far as rates. And what i mean by that is that value can perform growth can perform if we dip below one twenty five one twenty six in the ten year. Then you start to get a little bit of nervousness anxiousness in the market. And if you pop above one fifty. You're going to get the same type of event. So i think he's threaded the needle just to wrap it up. He's threaded the needle. I think value and growth can perform. If i were putting new money to work right now. I would put it in the value basket. Find a win as three gentleman who spoke before you mentioned. There's really been kind of this. Divorced now. in terms of sentiment with regard to tapering versus rate hikes. That's become just ever more present this week. As we hear more beneficial speak in terms of trading though. Are you kind of readjusting. Your portfolio to account for. What's going on with the paring. Back or potential paring back of asset purchases versus rate hikes further down the road..

fed Powell fisher j federal market committee steve jackson jerome Cnbc leslie Tim powell jeff tim jeffs treasury stephen tim
Markets Close at Records as Fed Lays out Taper Timeline

CNBC's Fast Money

01:53 min | 9 months ago

Markets Close at Records as Fed Lays out Taper Timeline

"And we start this hour with all those fed headlines at sent markets soaring today. The s. and p. nasdaq closing at new records. The dow jumping more than two hundred points. This is jerome. Powell seemed to set a timetable for the taper but tamp down expectations for any rate hikes. Let's get right to see policeman who's been following all the action in the virtual jackson hole this year steve. Yeah virtual jackson hole where real impacts on the market says you said fisher j at outright. He expects the fed would start tapering later this year if the economy continues to improve but he left him so flexible by not offering us specific month for the announcement or the beginning of the taper. Powell said inflation it's passed the test to start tapering employment on the way to a passing grade. The outlook for the labor market has brightened considerably in recent months after faltering last winter job gains have risen steadily over the course of this year and now average eight hundred thirty two thousand over the past three months of which almost eight hundred thousand have been in services. Powell said the delta very represented a risk. But he's still expects good job growth in the months ahead. That inflation will likely prove to be transitory. In that rate hikes require a higher standard than tapering does but members of the federal market committee interviews on. Cnbc right here. they're pretty definitive. It was time for the fed to ease back on the throttle. my view would be. Let's start to taper and let's let's do it quickly. Let's not have this linger you know the last time we did the taper. The economy was in a much weaker position than it is right now. And because of that there was some uncertainty that the taper itself could trigger some some weakness further weakness in the economy. I just don't think we're in that position now

Powell Fisher J Jackson Jerome FED Federal Market Committee Steve Cnbc
"federal market committee" Discussed on Odd Lots

Odd Lots

05:02 min | 10 months ago

"federal market committee" Discussed on Odd Lots

"That's a very good question. Joe and i that my guess is there would be a wide range of opinions In the federal market committee about that the answer to that question in my mind. Because i have a lot of confidence. These inflation readings are transitory. That's not what i intended. When i said we should achieve a modest overshoot. You know what motivated the new framework. What motivated the new framework was basically. We were undershooting our inflation target for ten years and we know this year lower bound is a constraint on policy and so we said look let's allow for a modest overshoot so we can actually average two percent inflation over time and get your estimate that underlying inflation is roughly around one point eight percent or it has been. Let's get underlying inflation back to two percent. In my mind temporary transitory high inflation readings because of the reopening are not actually gonna be effective in boosting underlying inflation to two percent on average over time. And that's why in my mind. Really count but i think there's probably a wide range of opinions round the committee as to that as to that question. This really wasn't what i intended to europe. Do you think the market understands the fed's new framework. And.

federal market committee Joe europe fed
"federal market committee" Discussed on Odd Lots

Odd Lots

03:32 min | 11 months ago

"federal market committee" Discussed on Odd Lots

"So one of the things i've always wondered is an this might sound like a weird question but bear with me but the degree to which inflation expectations actually matter and whether or not people do or do not change their behavior based on their future expectations inflation and For people like i guess joe and myself certainly for our professional lives. We've experienced pretty low rates of inflation and so it's hard to conceptualize a moment in time where it if inflation were spike. What would our consumer response. Actually be to that like. I have no basis for comparison. So it's really hard to imagine. I'm just wondering what's your take on that. Do inflation expectations actually impact behavior. Yeah this is a question. I get not only from you. Know folks working in the media or even outside academia and media but even in academia. We are often asking ourselves that question. I often get the referee responses to my papers. And it's a it's a very reasonable question of course traditional economic models would say. Oh yes it will affect your savings decision including your retirement saving. It might affect your consumption choices right. Inflation goes up. We should all be spending like crazy because money will be worth less in the future. And that's not quite what happened. So i just want to pause for a moment and say that the standard economic models in academia but also in the policy world implicitly assume. There's a strong link and so that goes into all of our policy recommendations so the baseline assumption is there but is it actually true. Well if we look at decisions of people who literally deal with inflation. As i said i'm studying. Fomc members members of the federal market committee who decide about interest rates and react to inflation they c and unemployment rate etcetera. I do see it working there. So for starters among the professionals the effect as they are they're overly influenced by their personal experiences and a voting to descend save from the chair persons proposal. If you know their personal experiences point them in a different direction fun fact also. I got some data from one of the big financial firms working in bonds and they are too. I got also their nationality inflation. The the french the germans and americans working there. They've personally experienced affect their beliefs and will absolutely influenced therefore their decision making in the from. But i think you're ultimately your question was more targeted. Maybe to the personal like you and me who is not necessarily actively trading or making policy decisions based on inflation numbers and it is a good question it is to a large extent an open question still be shown how it affects say wage negotiation labor market choices etc. But what i can say is that while not surprisingly personal inflation experiences affect your beliefs about future interest rates so you know inflation and nominal interest rates closely linked to. It shouldn't come as a big shocks only recently. We've been able to get the day to formally show inflation experiences strongly affect in not only inflation beliefs but correlated with that also nominal interest rate release. And then those in turn affect some of the biggest financial decisions households make namely whether to buy or rent a home and.

academia federal market committee joe Fomc
"federal market committee" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

07:39 min | 1 year ago

"federal market committee" Discussed on Bloomberg Radio New York

"Charlie Palate. It's a Bloomberg business Flash. All right, Charlie. Thank you so much. You are listening to Bloomberg. BusinessWeek. Jason Kelly Carroll. Master. Excuse me. I believe that's Carol. Cough cough master here with me on offense. Love the Fed day. So let's understand what they're talking about. Kathleen Hays. She's with this global economics and policies are for Bloomberg. In New York City at Dave Wilson is stocks editor for Bloomberg. He joins us from New Jersey. So Kathleen and I was Go ahead. What we just want to mention to everybody that Bloomberg BusinessWeek focus on the Fed brought to you by Commonwealth Financial Network, Be the independent advisor. You always wanted to be. All the support. You need to get their visit commonwealth dot com Toe. Learn more. Take it away, Jason Kelly. Well, thank you so much for, you know, paying the bills. All right, Kathleen Hays. Now that we've got the bills paid, talked to us about what you're seeing and what jumped out at you. Well, first of all the fact that they're the vote Wass, 82 13 and 17 officials forecast rates on hold through 2023 not surprising, but again, I think it's a little bit surprising to me on the descent. From Rob Kaplan, Neel Kashkari, Minneapolis said Rob capital from the Dallas said, Now remember, there's only there's there's 12, said Bank president four of them vote on a rotating basis. That's how you get a total of 10 on this boat out of the 17 officials on the federal market Committee, but importantly Rob Kaplan preferred to retain quote. Greater policy rate flexibility, while Neil Kashkari dissented because he wanted to wait for a rate hike until core inflation has reached 2% on a sustained basis. I think you know, mother criticisms among fed watchers of what came out of the Jackson Hole virtual meeting this switch to an inflation targeting framework etcetera is how they going to do it. You know how much of a going over Dude, what happened that they overshoot. Then do they have to undershoot? There's so little joy spelled out in terms of details. This is so big and many of them say, Well, it's probably because there's still not a full agreement within the federal bar Market Committee about how they're going to carry this out. Um, Rob Chaplain. I think it's already said in the past that he would be fine with in the past year or more that he'd be fine with letting place and run hot. We'll let it run above a bit 2%. But at some point he'd want to look at that. And then he might think change is made. Mind about rates. Neel Kashkari, on the other hand, has been very worried about the virus. I think this is the dove because the key inflation gauge is not the core inflation gauge. Right now he's talking about core inflation reaching at 2% on a sustained basis. It's a little little stricter, right? But I think that this I think it's going to be something that comes out of this. Well, I'm just gonna say what's coming out of it. In terms of market reaction. Not much when you look along the yield curve, the 10 5 into pretty much where they were right before the release of those fed minutes. Equities. However, we've seen some support and we're moving to just a little bit higher on those news. Let's bring in Dave Wilson. Dave give us the equity market reaction here because we have seen a bit of a turnaround. I mean, we have started, you know, before the decision was announced, and you know, we saw the S and P 500 kind of pop up for a few minutes is given back sort of those initial gains. Still tryingto hang on, though, for fourth straight advance. And when you look at the 11 main industry groups in the S and P 500 It's distinctly sort of economic bento All this energy stocks. Industrial stocks, financial stocks best performers out of those 11 groups and what they also have in common is they're all down for the year, so it's almost like to some extent what we're seeing out of the Fed is giving at least some investors a reason to Look at the more beaten down areas in the market. And I say that, knowing that there are only two groups that air down out of the 11 technology and communications services, which includes Facebook and Google Zone, or alphabet, and a bunch more sort of Internet late, cos So you know it definitely a shift from what we've seen over time in terms of the relative performance industry wise, but also areas of the market that have run up a lot. You know Gina, right? Yeah, absolutely. So, Kathleen, let's take a step back if we can and just wear mine people. I mean the Fed always important, of course, but it has been many would argue, and I might agree with them the critical player in the government's response to this pandemic, especially from the markets perspective, So as you see this, and I was so we're going to hear more from J. Powell coming up in about 24 25. Minutes. Remind us the place that the Fed is really holding here in terms of kind of keeping it all together. Well, let's remember that the Fed very early. I believe it was march 3rd. And that was before they were even locked down. Stay long in the United States made its first emergency rate cut right And then it quickly got the rates down to near zero as it launched in total in the end nine different programs to lend money to people to get money to business. This is to make it easier for them. Tio not lay off workers and importantly, though, remember how crazy the bond market was in February? That's one reason why I started buying security pumping liquidity, right and they did it. They did an excellent job with all that. Congress, of course, did get onboard and pass a similar program. But now it looks like nothing till after the election. So if he had played a very important role, and I think the other thing that the Fed is trying to do with all of the If it's done lately. In terms of this framework, they're just making it so crystal clear. I mean, you wouldn't expect with all the speeches they've given everything. J. Paul and others have said that they were even thinking about thinking about hiking rates for a long time. But more and more There's people were not going to start hiking rates were not going to be if this is not the past, where we let inflation right so much and then say, man, we better cut it up, and I think you have to bring in all the other aspects of this as well in Jackson Hole, the said, also added a something that kind a lot of people's eyes. Not just maximum employment, the feds supporting massive, massive, massive, inclusive employment because more and more they're been voices saying, Look, you gotta let the economy run hot. Allow low income workers, Many of them happen to be black happen to be Latino allowed them to get caught up, too. So there's a lot of pieces here, and I think that that is clearly on the side of some of the big trends going on. In our in our country and in the world. Even I think the question for markets for investors and for economists, so is is how this is really going to work as we go down the road. Yeah, Exactly. I just I'm blown away about, you know, we keep kind of kidding about CEOs, and we don't know what's gonna happen to 21. Visibility, and I respect that because it's still a lot of questions. But here's the Fed saying, you know, we're going to likely keep rates. Ah, you know, you know, forecast, you know and race zero through 2023. That's why Rob Kaplan said. Hey, I'm descending and robs a centrist, right middle of the rules down right right down the road guy and remember, he worked on Wall Street for a long time. Is it that they couldn't? They put out this kind of long term forecast, But then they come back in a year. I mean, I don't know 2020 three's a longtime aways mean, how likely is it that they're going to reminds that Caroline, I'm talking like a beneficial, Carol. You know, today, I put in my forecast for the cost of Carol. I'm looking at the economy looks right now and how I think the virus is going to play out..

Fed Bloomberg Kathleen Hays Rob Kaplan Neel Kashkari Dave Wilson Jackson Hole Charlie Palate Jason Kelly Carroll BusinessWeek New Jersey federal market Committee bar Market Committee Rob Chaplain Jason Kelly Commonwealth Financial Network Carol New York City United States Wass
"federal market committee" Discussed on Biz Talk Radio

Biz Talk Radio

06:26 min | 2 years ago

"federal market committee" Discussed on Biz Talk Radio

"Take that money I'm gonna no you don't need to be our full you only need to take a few just one I both look at the bottle okay hold on take as precipitation is directed I need to say that before you take your coffee you should read the label for yeah you know what I'm gonna send Thompson yesterday I came in with aspen Santa would you please and of course the pensioners you calling me needs some boosting nonsense so first of all this we started the show like this the ship in this instance it looking what he did good morning ladies and gentleman and welcome the federal market committee meeting here I want to talk about the economy and talk at the economic path ahead hello I don't know I got nothing on certain literally when he says the economic path ahead is highly uncertain No shoes all sure okay thank you captain obvious showed up what well look cute you Ernie but yeah we sending its products on both sides on the one hand this was in June when you started wanted a one handed economist yeah listen so it is uncertain and he did royal markets and I'm friendly who does a lot of shows he tells me that markets already baked in I told you we were good I told you that the markets forward looking then I also told you that this was a head fake or do a pull back and then we go back up in this you're gonna remain comfortable in my twenty three thousand training big twenty six data needs a new personal baby I'm look I'm here are some things on the horizon that do make sense look the California economy is roughly seventeen percent or more of the nation's economy you have pro long turn downs here LA which instantly county is bigger than forty two states so you were saying it's going to continue to shut down so the long term prospects are I'm sorry the next six months and the economy continue to be dark and buying the policies right or wrong but they are the policies of New York and California so you know and California is now facing mega tax hikes up and down to especially LA continues with this we're not okay no longer hold on the economy and it also pulls down expectations which is our expectations are forward looking here's the here's the biggest problem I have you've got guys like doctor thought she Dr what's interesting Tony Tony Phillips actually Tony bag of donuts the lonely the elbow she turns out she talked about you it's not an elected official he's an appointed official he is not a big picture guy he is a very narrow picture he has a very narrow lane it's called science it's called health and safety you don't take you don't make big picture decisions by talking to a little picture guy this would be like big picture Steve Forbes okay saying I can tell you the precise time we should have a brain surgery why you don't do that he doesn't know that you see you take that into consideration along with a couple of medium picture guys like manufacturing distribution tourism industry business science okay I got you don't and that that should only show yesterday with with Congress try to make way to make our economic decisions based on a guy who has a parking lane the size of a razor blade come on yeah and rand Paul sent her going well you know you're not the be all end all and it's are you trying to you know my line on all of this is that Colby did not replace all our other medical problems it added to them you don't get to just push them off the table and yeah that's what we're doing and this notion of Dr outlets from Stanford talk about that this is speech to be all end all is to stop this and he started the U. one report saying it's gonna push another hundred thirty million people into starvation okay I'm not very good at math but I'm guessing a hundred thirty million is Morton then the covert crisis anywhere and I'm not really good at starvation just you know the real the real issue yes it was doesn't rand Paul look great with a beard yeah Justin Bieber yeah so you don't miss let me tell you what's going to happen Tom's case you're wondering I woke up thinking what I'm only going to happen yes first of all you on mosque opens up his manufacturing facility yesterday and says gives the finger basically to Gavin Newsom the governor of California and says you know what I mean by the way that can be arrested for opening your business in cold it is is like winning the lottery right police arrested as a book there there's like a bunch so first of all it's it's great that he gave the middle finger but but on on a on a macro basis or a micro basis you're going to see places in the next ten days to fight this governor's order okay bars they are talking about he says well we'll use Marshall yeah good luck getting the sheriff's departments to get behind your martial law because I think they're not going to enforce a certain portion of it I think big cities San Diego LA San Francisco enforcer every other small cities in the state I thank everyone for static out at the end of the day you're not gonna have anarchy quite what you're gonna get just like the day after he opened his factory there's an announcement well just looking over under certain circumstances Tom zero to really keep the number but I believe that whether California likes it or not I should say whether the.

"federal market committee" Discussed on Biz Talk Radio

Biz Talk Radio

06:27 min | 2 years ago

"federal market committee" Discussed on Biz Talk Radio

"You don't you don't need to take that money I'm gonna no you don't need to be so powerful you only need to take a few just one on both look at the bottle okay hold on take has taken as directed I need to say that before you take a copy you should read the label for I don't know what kind of music you wouldn't yeah you know what I'm gonna send Thompson yesterday I came in with aspen Santa would you please stand up and of course the pensioners you calling me needs some boosting nonsense so first of all this is we started a show like this the ship this is it's it's look at temperature this is what he did good morning ladies and gentleman and welcome the federal market committee meeting here I want to talk about the economy and talk with the economic path ahead hello I don't know I got nothing uncertain what I mean literally when he says the economic path ahead is highly uncertain No shoes all sure okay thank you captain obvious showed up what well look you you journey but yeah we sending its products on both sides on the one hand this was in June when you started wanted a one handed economist yeah listen so it is uncertain and he did royal market and I'm friendly who does a lot of shows he tells me that markets already baked in I told you we were good I told you the markets forward looking then I also told you that this was a head fake or do a pull back and they were to go back up to Mr you're gonna remain comfortable in my twenty three thousand training twenty six yeah I don't need a new pair of shoes baby box look I'm here are some things on the horizon that do make sense look the California economy is roughly seventeen percent or more of the nation's economy you have pro long turn downs here LA which is the only county speaker then forty two states so you were saying it's going to continue to shut down so the long term prospects are I'm sort of the next six months and the economy continue to be dark and buying the policies right or wrong but they are the policies of New York and California so you know and California is now facing the mega tax hikes up and down to especially LA continues with this we're not open until August here's a hold on the economy and it also holds down expectations which is our expectations are forward looking here's the here's the biggest problem I have you've got guys like doctor thought she Dr what's interesting Tony Tony Phillips actually Tony back in the order Tony the elbow she turns out she doctor felt she is not an elected official he's an appointed official he is not a big picture guy he is a very narrow picture he has a very narrow lane it's called science it's called health and safety you don't take you don't make big picture decisions by talking to a little picture guy this would be like big picture Steve Forbes okay saying I can tell you the precise time we should have a brain surgery why you don't do that he doesn't know that you see you take that into consideration along with a couple of medium picture guys like manufacturing distribution tourism industry business science okay I'm done you don't that that the doctor had only show yesterday with with Congress try to make way to make our economic decisions based on a guy who has a parking lane the size of a razor blade come on yeah and and ran home senator going well you know you're not the be all end all and it's are you trying to you know my line on all of this is that Colby did not replace all our other medical problems it added to them you don't get to just push them off the table and yeah that's what we're doing and this notion of Dr outlets from Stanford talked about that this is speech to be all end all is to stop this and he started the U. one report saying it's gonna push another hundred thirty million people into starvation okay I'm not very good at math but I'm guessing a hundred thirty million is Morton then the covert crisis anywhere and I'm not very good at starvation just you know the real the real issue yes it was doesn't rand Paul look great with a beard yeah Justin Bieber yeah you know this let me tell you what's going to happen Tom's case you're wondering I woke up thinking what I'm sorry yeah first of all you on mosque opens up his manufacturing facility yesterday and says gives the finger basically to Gavin Newsom the governor of California and says you know what I mean by the way for opening your business in cold it is is like winning the lottery right police arrested as a book so first of all it's it's great that he gave the middle finger but but on a on a on a macro basis or a micro basis you're going to see places in the next ten days to fight this governor's order okay bars don't talking about uses lower will use Marshall I got good luck getting the sheriff's department to get behind your martial law because I think they're not going to enforce a certain portion of it I think big cities San Diego LA San Francisco enforcement every other small cities in the state thank you for signing up at the end of the day you're not gonna have anarchy quite what you're gonna get just like the day after he opened his factory there's an announcement well just look at alternate under certain circumstances exactly how much time zero to really keep the number but I believe that whether California likes it or not I should say whether the politicians in.

"federal market committee" Discussed on Biz Talk Radio

Biz Talk Radio

07:09 min | 2 years ago

"federal market committee" Discussed on Biz Talk Radio

"You don't you don't need to take that money I'm gonna no you don't need to be solved our full you only need to take a few just one on both look at the bottle okay hold on take has taken as directed I need to say that before you take your coffee you should read the label for goodness yeah you know what I'm gonna Sam Thompson yesterday I commune with aspen Santa would you please and of course the pensioners economy needs some boosting nonsense so first of all this is we started the show like this the ship this is it's it's looking at your body to good morning ladies and gentleman and welcome the federal market committee meeting here I want to talk about the economy and talk with the economic path ahead hello I don't know I got nothing on certain I mean literally when he says the economic path ahead is highly uncertain No shoes all sure okay thank you captain obvious showed up what was that well look you you tourney but we sending its products on both sides on the one hand this wasn't true when you started wanted a one handed economist yeah listen so it is uncertain and he did royal market and I'm friendly who does a lot of shows he tells me that markets already baked in I told you we were good I told you the markets forward looking then I also told you that this was a hectic ordeal pull back and they were to go back up to Mr you're gonna remain comfortable in my twenty three thousand trading twenty six yeah I don't need a new pair of shoes baby but I'm look I'm here are some things on the horizon that do make sense look the California economy is roughly seventeen percent or more of the nation's economy you have a long term downs here LA which instantly county is bigger than forty two states so you were saying it's going to continue to shut down so the long term prospects are I'm sorry the next six months and the economy continue to be dark and buying the policies right or wrong but they are the policies of New York and California so you know and California is now facing mega tax hikes up and down to especially LA continues with this we're not okay no longer here's a hold on the economy and it also holds down expectations which is our expectations are forward looking here's the here's the biggest problem I have you've got guys like doctor thought she Dr what's interesting Tony Tony Phillips actually Tony Baggett though not the lonely the elbow she turns out she doctor felt she is not an elected official he's an appointed official he is not a big picture guy he is a very narrow picture he has a very narrow lane it's called science it's called health and safety you don't take you don't make big picture decisions by talking to a little picture guy this would be like big picture Steve Forbes okay saying I can tell you the precise time we should have a brain surgery why you don't do that he doesn't know that use you take that into consideration along with a couple of medium picture guys like manufacturing distribution tourism industry business science okay I got you don't that that the dog show yesterday with with Congress try to make way to make our economic decisions based on a guy who has a parking lane the size of a razor blade come on yeah and Randgold sent her going well you know you're not the be all end all and it's are you trying to you know my line on all of this is that Colby did not replace all our other medical problems it added to them you don't get to just push them off the table and yeah that's what we're doing and this notion of background was from Stanford talk about that this is speech to be all end all is to stop this and he started the U. one report saying it's gonna push another hundred thirty million people into starvation okay I'm not very good at math but I'm guessing a hundred thirty million is Morton then the Colby crisis anywhere and I'm not gonna get a starvation just you know the real the real issue yes it was doesn't rand Paul look great with a beard yeah Justin Bieber yeah you know this let me tell you what's going to happen Tom's case you're wondering let me I woke up thinking what I'm only going to help us yes first of all you on mosque opens up his manufacturing facility yesterday and says gives the finger basically to Gavin Newsom the governor of California and says you know what I mean by the way that can be arrested for opening your business in Culver is is like winning the lottery right police arrested a book there there's so first of all it's it's great that he gave the middle finger but but on on a on a macro basis or a micro basis you're going to see places in the next ten days hi this governor's order okay bars are stocking about users will will use Marshall I got good luck getting the sheriff's departments to get behind your martial law because I think they're not going to enforce a certain portion of it I think big cities San Diego LA San Francisco enforcer every other small cities in the state thank anyone for static out at the end of the day you're not gonna have anarchy quite what you're gonna just like the day after he opened his factory there's an announcement well just looking open it under certain circumstances how much but I believe that whether California likes it or not I should say whether the politicians in California none of which have a perspective they're in for a surprise the next seven to ten days you watch yeah what about we got a weight watcher if no one dies for fourteen days and I think we yeah well that's good nobody ever dies any attention hard working Americans pay too much in taxes I would you like to get an extra five thousand dollars back from your prior year's tax return family tax will take your file tax returns for the last three years and analyze we are experts in finding hidden.

"federal market committee" Discussed on Biz Talk Radio

Biz Talk Radio

06:28 min | 2 years ago

"federal market committee" Discussed on Biz Talk Radio

"Take that money I'm gonna no you don't need to be all you only need to take a few just one on both look at the bottle okay homa take as person take as directed I need to say that before you take your coffee should the labor force yeah you know what I'm gonna send Thompson yesterday I came in with ask for sample would you please and of course the pensioners you call me needs some boosting nonsense so first of all this is we started this year like this this represents its it looking at your body to good morning ladies and gentleman and welcome the federal market committee meeting here I want to talk about the economy and talk with the economic path ahead hello I don't know I got certain I mean literally when he says the economic is highly uncertain No shoes all sure okay thank you captain obvious short of what well look you you journey but we sending its products on both sides on the one hand this wasn't true when you started wanted a one handed economist yeah listen so it is uncertain and he did royal markets and I'm friendly who does a lot of shows he tells me that markets already baked in I told you I told you the markets forward looking then I also told you that this was taken or do a pull back and they were to go back up and this is you're gonna remain comfortable in my twenty three thousand training twenty six the new promotional baby I look at it here are some things on the horizon that you make sense look the California economy is roughly seventeen percent or more of the nation's economy you have a long turn downs here L. eight which is only counted for your band forty two states so you were saying it's going to continue to shut down so the long term prospects are I'm sorry the next six months and the economy continue to be dark and buying the policies right or wrong but they are the policies on New York and California so you know and California is now facing the mega tax hikes up and down to especially LA continues with this we're not open until August here's a hold on the economy and it also holds down expectations which is our expectations are forward looking here's the here's the biggest problem I have you've got guys like Dr Chaudhary Dr what's interesting Tony Tony Phillips Tony bag of donuts out she turns out she talked about you is not an elected official he's an appointed official he is not a big picture guy he is a very narrow picture he has a very narrow lane it's called science it's called health and safety you don't take you don't make your decisions by talking to a little picture guy this would be like big picture Steve Forbes okay saying I can tell you the precise time we should have a brain surgery what you don't do that he doesn't know that you see you take that into consideration along with a couple of medium picture guys like manufacturing distribution tourism industry business science okay I thought you don't that sure thank god only show yesterday with with Congress try to make decisions based on a guy who has a parking lane the size of a razor blade come on here and Randgold sent her going well you know you're not the be all end all and it's are you trying to you know my line on all of this is Colby did not replace all our other medical problems it added to them you don't get to just push them off the table and yeah that's what we're doing and this notion of Dr I was from Stanford talked about these be all end all is to stop this and he started the U. one report saying it's gonna push another hundred thirty million people into starvation okay I'm not very good at math but I'm guessing a hundred thirty million is Morton then the Colby crisis anywhere and I'm not really good at starvation just you know the real the real issue yes it was doesn't rand Paul look great with a beard yeah Justin Bieber yeah you don't here's this let me tell you what's going to happen Tom's case you're wondering I'm thinking what are the only yeah first of all Ilan mosque opens up his manufacturing facility yesterday and says gives the finger basically to Gavin Newsom the governor of California and says you know what by the way rested for opening your business in cold it is is like winning the lottery right police arrested as a blocker so first of all it's it's great that he gave the middle finger but but on on a on a macro basis or a micro basis you're going to see places in the next ten days to fight this governor's order okay bars are talking about he says well we'll use Marshall I got good luck getting the sheriff's departments to get behind your martial law because I think they're not going to enforce it fortunately I think big cities San Diego LA San Francisco enforcer every other small cities in the state thank you for signing up the end of the day you're not gonna have anarchy quite what you're gonna just like the day after he opened his factory there's an announcement well just looking under certain circumstances how much but I believe that whether California likes it or not I should say whether the politicians in California none.

"federal market committee" Discussed on WNYC 93.9 FM

WNYC 93.9 FM

03:13 min | 3 years ago

"federal market committee" Discussed on WNYC 93.9 FM

"To cut interest rates because come on they're gonna we know that because chair J. Powell has all but told us they're going to do that and they're in that we know what the fed's going to do before they actually do it lies our story today because it wasn't all that long ago that the idea of the fed being so radically transparent was heresy that was the gist of where I started with pal one we had on the program last summer why are you doing this area you know we're a part of it just is that I feel that we have an obligation to explain ourselves I think we're we're shifting our focus a little bit too address this sort of the American people more generally and try to explain what we do why we're doing it and how we carry out the important jobs that Congress has given us I read that by Peter coyote brown is a fat historian at Wharton so if I say federal reserve communications policy do you but what do you think I think of a tortured history I think of the wizard of oz I think of the fed trying to be the wizard to the citizens of Emerald City but now trying to say but we should invite the visitors from Kansas behind the curtain exhibit a in that fed as the wizard of oz analogy one Alan Greenspan clearly sustained low inflation implies less uncertainty about the future and lower risk premiums imply higher prices of stocks and other earning assets we can see that in the inverse relationship exhibited by price earnings ratios and the rate of inflation in the past Greenspan was notoriously hard to follow which says Peter county brown was the whole point he loves keeping people on their heels unsure of what the fed would do next because that preserve quite a lot of policy space for him and the other central bankers at the FOMC to dominate that was all well and good until the economic bottom fell out in two thousand eight and slowly but surely the Bernanke fed realized it had to open up a little bit he did interviews he went on sixty minutes for crying out loud and then after the fed's meeting in April of two thousand eleven he started holding press conferences good afternoon welcome in my opening remarks I'd like to briefly first review today's policy decision I'll then turn next to the federal market committee's quarterly economic projections also being released today burning started them yelling continued him quarterly by the way now Powell does them eight times a year speaking as plainly as a fed your cat I guess we have an economy where the expansion is continuing growth this is at a healthy level the labor market is strong we see job creation we see which is moving up inflation is low which gives us the ability to be patient I see us on a on a on a good path for this year the question though is who is he talking to and are they listening there's a farmer's market every Friday not far from marketplace world headquarters here in LA so over we went last week to find Maria Blakely selling micro greens with her husband Jeremiah micro greens I learned by the way being tiny barely sprouted arugula and Kaelin.

J. Powell sixty minutes
"federal market committee" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

12:10 min | 3 years ago

"federal market committee" Discussed on Bloomberg Radio New York

"Radio. Matt. So some big names, of course at the central conference. Mario Draghi Connie Janka was been the flavor so far. Well, so far, we have heard a number of central Bank officials saying that the is ready to act in case of further downturn, in case of risks materializing in the economy. So they they're saying that they could reach into the toolbox, and pull out things like rate cuts, or quantitative easing again. And it's interesting because Livia Blanchard, formerly of the IMF now the Peterson institute said yesterday it's clear that they don't have any tools left and it's time for governments to start using fiscal policy to fight any downturns that may materialize. Okay. Well, we're going to delve into the ocean account. Forget that it's the federal market committee meeting beginning today, the statement in the press conference, and it's not just the, the fed on the ambiance, Elvis, you're going to be on the washout for today. Also in the markets video on pools vary as. We await the fed decision on Wednesday. We've already seen of course. This epic bond rally US yields at twenty seventeen actually this morning. The rybak dollar spot index week at tenth of one percent, but US treasuries, a little change two zero eight on the ten year. So it down one hundred basis points. But we have seen curve flattening sent Neil Monday the twos, tens and the fives thirties. So that says something to wash we have this fed gauge of factories in York, which plunged in June's. Have that really spurring more calls for that to be lower rates in the United States as she global actually markets have managed a couple of weeks of gains on the back of this idea that we're gonna see more rate cuts in the US Asian markets this morning pretty mixed topics is down seven tenths of one percent. So too is the Nick as we see the Japanese yen, strengthen up two tenths of one percent. The Shanghai comb is Justin positive. She Asia-Pacific also up two tenths of one percent. And we had a new home price growth. In China picking up last month. So that's one bright spot in terms of China. And I mentioned that there were other central banks in the picture where the AUSSIE dollar sliding to a five-month low after we got the minutes from the Rb as latest policy meeting sharing that it is likely to lower interest rates again. So that's something to account for the AUSSIE dollar this morning, down two tenths of one percent right now and oil also holding losses both here and bring food as well. We're still trying to see a date for this OPEC plus meetings WTI down. One point one percent on Monday is also just slightly weaker fifty one spot Ninety-one for all this morning. So those are the markets, Matt. All right. Let's get down to the top stories now as I said earlier, Mario Draghi, addresses his final ECB forum as president here in Sintra today, the themes that have dominated his tenure persist stubbornly, low inflation, and concerns about growth and is Bloomberg's Piatra Skolimowski explains. That means investors will be looking for signals of the central Bank is prepping new stimulus reason decision to keep rates unchanged. Well into the next year failed to satisfy markets inflation, expectations drunkard lows. This is already being set for more action, druggies Lieutenant and one of his potential contenders. Benefactor said on Monday, the EC active needed to support the economy and could even be facing such a decision within months in central Pierce county. Mostly Bloomberg daybreak Europe. And in the US the Federal Reserve a two day meeting on interest rates today. Bloomberg's Vinny Del Judas reports the Corazon Wall Street and in Washington is calling for a rate cut but economists. Surveyed by Bloomberg say the fed will stand pack this week. Wednesday's policy statement, Advair shares your own Powell's news conference could provide valuable clues for the weeks and months ahead, maybe even a wink and a nod for now it may be a close call last week's data. Unreal sales and industrial production surprised to the upside evidence, America's economy, retains gusto, Vinny Del Giudice, Bloomberg daybreak Europe. All right. Let's cross over to Singapore, Wes Goodman from the markets live team, joins us and west of stick with the central Bank, theme and turn to Australia. What's the message the RBI is? Sending by talking about more easing. Yes. Hi, combining everyone. I mean, the message is they're not one and done. They have more to go the economy needs extra help, so, you know, the statement talked about the likelihood of more easing. What it didn't say what people are still kind of scratching their head over as when is the next rate, cut gonna come, but still with, with, with more easings ahead, maybe more than one the AUSSIE dollar and local yields can keep falling. The dollar is approaching its lowest levels in about a decade and ten year yields have been falling to record lows. They set a new record low of one thirty six today. So the outlook is for, for yields and the currency in Australia to keep to keep going down. Okay. So that's the west but of course, the real focus is potential in the fed, and then the B, O J meetings coming up this week. So we'll other central banks, you think fully Australia and ease. Yeah. In the fed is going to issue, a statement on Wednesday and the B O J on Thursday. No, I don't think many people are really expecting rate cuts this week. But this is the opportunity of policymakers are leaning toward cutting rates. This would be a great opportunity for them to sort of alert people get people ready. And it sounds like that's what's happening in Europe. What these speeches regarding the but one thing to keep in mind is that there is no ECB meeting this week turning back to the US in Japan. The odds of a reduction in these in these countries are substantial this year think we can look for the central banks to start building the case, you know. And if they don't a lot of people will be disappointed. It'll be sort of the opposite of what's happening in Australia. And if they don't cut, you know, we can look for for yields in, in the US and Japan to push higher. What do you mean? There is no ECB meeting this week. We all had dinner here last night. We're going to have speeches today. I mean, this is the biggest meeting of the year. Well, these, these are officials gathered to, to speak to summit. Right. But there's no policy meeting. There's those states. Of course a couple of years ago. The big thing is that my doggy significantly move the markets. It's interesting that says a lot of the expectation is just a comment. He just made a comment, not as not as big as a rate cut from the when they go from negative forty basis points to like negative twenty five I'm being sarcastic comments are probably more important the markets. But yes, it's not an official media. Th they are important. Their key. Not not saying that I expect to whatever it takes moment this time, but that was sure would be thrilling for me and probably for you guys to west. Thanks so much for joining us for real time market, commentary and analysis, check out the markets live blog, just I've NFL IV go on your Bloomberg terminal, now onto some other news this morning. J P Morgan asset management is looking to sell the highs and put credit and buy government debt. Instead, that's according to Bob, Michael, the fence head of global fixed income. It's shop ton amount from bullish position as a week ago now off the selling off, for most of may credit spreads rally again as traitors bet on fed rate cuts, which is boosting demand for fixed income assets. I think credit will continue to do well because there are still looking pretty good. You're still having the flow through of the fiscal stimulus into corporate earnings, but the future looks pretty bleak. So I wanna start selling rallies in here say he'll through four hundred basis points. So bleak. That was Michael J P Morgan asset management's, head of global fixed income. Yeah, it has been pretty bleak to say the least you look at all these yields, and we heard from alleviate blonde shard that the central banks need to watch these financial markets. They can't follow them blindly, but they can't not look at the bleak signals coming out of the markets, China cut its US treasury holdings to the lowest almost two years. That story now from Bloomberg's Charlie Pellett. It comes as the months long trade conflict drags on between the world's two largest economies, according to treasury department data, the nation's holdings of notes bills, and bonds, declined by seven point five billion dollars in April two one point one one trillion dollars. The latest numbers were collected before tensions between Washington and Beijing escalated to a new level in may when trade talks collapsed, and President Trump, raise tariffs on two hundred billion of Chinese goods announced more increases to come Charlie. Pellett. Bloomberg daybreak Europe, now in the UK today, a second ballot will be held in the leadership contest to choose to ease amaze success. But in Beck's Thomas penny reports now the result were Jason list of six content is at least one with the person last place and anyone who fails to hit the threshold of thirty-three votes, milk towns, while stunks side to win. It's campaign by international development, secretary Rory Stewart and he's speaking his rifles while all of his opponents offering a halt departure from the Stuart sister lost surviving. Counted offering a mo- moderate line, and Tuesday's result could show the depth of divisions. I've Brexit in the case governing party in London. Thomas penny. Bloomberg daybreak Europe. All right. Let's get your global news headlines for that we go to leeann guarantee. Leeann, good morning, Hong Kong's reopen central government offices closed off to his stoic protests on Sunday that cold for Lita Caroline to resign. Verbal annoying extraditions chilling. Bloomberg's Karen Lee has more. Police have also dialed back their categorization of some clashes with protesters last week near the city's legislative building as a riot, which has certain legal ramifications dropping that description was a key demand of Sunday's demonstration. In Hong Kong. Karen Lee, Bloomberg daybreak Europe around one thousand additional American troops being sent to the Middle East. The Pentagon says the deployment include security forces is because of what it calls hall style behavior by Ronnie. Enforces. The US believes Iran was behind attacks on oil tank is near the Persian Gulf Las week something Tehran denies Jim in foreign minister he could mass raise concerns as he met his counterparts in Luxembourg yesterday. I still think the situation is extremely explosive. Military confrontation in the Gulf would mean that the whole region would be on fire. Nobody can be interested. Not chinese. President Xi will visit North Korea on Thursday for talks with Kim Jong own ahead of the g twenty in soccer. Bloomberg's Peter pay reports. The visit will be the first by a top Chinese government official in fourteen years and comes ahead of next week scoop of twenty summit in Japan where she President Donald Trump in Russian leader. Vladimir Putin expected to attend South Korean officials see the visit as a possible precursor to resumption of stalled nuclear talks between Kim, and Trump in so pita pay Bloomberg daybreak Europe and the first freely elected president of Egypt has died. Suddenly Muhammed Mosey suffered a heart attack, and collapsed, while attending a court hearing he was sixty seven Elul make it with a Muslim Brotherhood, mostly was elected to the presidency in June two thousand twelve but was toppled and imprisoned by army chief el-sisi who's now president, the Muslim Brotherhood has since faced sweeping. Crackdown. Cable news, twenty four hours a day on Erin. Take took on Twitter by more than twenty seven hundred journalists and listenable the one hundred twenty countries. I'm young guarantee this is Bloomberg. Caroline, thank you so much. The Anna still ahead on Bloomberg daybreak. We hit from Airbuses, CEO, Gil fully who is the Paris..

Bloomberg US Europe Federal Reserve Australia Japan Matt president President Trump J P Morgan Mario Draghi Connie Janka Thomas penny China Lita Caroline Washington Livia Blanchard official
"federal market committee" Discussed on KOA 850 AM

KOA 850 AM

02:55 min | 3 years ago

"federal market committee" Discussed on KOA 850 AM

"Talked about the situation on FOX business network's Trish, Regan, primetime our agenda among the Venezuelan opposition today is a very clear to build a better country. Transition government removal from power and transition toward elections. Unfortunately, the government of my is nearing its end in the three. Worst manner. The Trump administration has recognized Joe is the legal president of Venezuela while the Russian government continues to support Madero a little money news now Jenkins wealth management, providing look and listen to that as we check in with the federal government is moving forward with its demand that California repay billions of dollars that it was going to get to build a high-speed rail line between LA and San Francisco this, of course, was a major priority of the previous administration in California. But the new governor said even with federal help it's too expensive and would take too long to build. Now. The department of transportation says since California didn't come up with the required matching funds. It's canceling a billion dollar payment to the state. We're waiting on the fed today and boys or anything more exciting than reading the minutes. Federal Reserve open market committee meeting probably not the federal market committee will release the minutes of its last meeting a little bit later on today. The foul policy-making arm held off on changing interest rates at its last meeting last month. The minutes are expected to come out at noon today, not that long ago the. Fashion retailer h Enam had zero stores in Colorado soon. It'll have a dozen in metro Denver h and I'm will open a new location in Thornton this fall. The new store is expected to employ about twenty people and jobs will be posted on the website. HMO open its flagship Colorado store in two thousand eleven at the Denver pavilions on the sixteenth street mall. CBS health says shares are down for the quarter. The pharmacy chain reports mixed fourth quarter results today for the rest of the year is CBS forecasting adjusted earnings below Wall Street expectations. CBS says this is a transition year because of its acquisition of the health insurance company right now on Wall Street, the Dow is up thirty five the NASDAQ is up twenty three and the s&p is up four in our next money update. It's the art of the deal when it comes to getting higher pay on that at nine twenty five, but I I've got a little side hustle going on with a company that I've had for about twenty years. Now, I remember running very quickly through my network of contacts. Anytime I needed some help on a project we are in a very tight job market. So you need to go to the right place and find the right person. Why leave it to chance on a job board when you can post on linked in and have your job in front of seventy percent of the US workforce. Now, many people on. Lincoln may not be actively looking for jobs. That's why they're not on the job boards. But nine out of ten of them say they are open to new opportunities at Lincoln profile tells you so much more about them than you're going to get from their resume linked in is the best way to find.

California fed Denver Colorado CBS FOX business network Trump administration Lincoln department of transportation Trish Venezuela Regan Thornton Madero US h Enam president
"federal market committee" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

07:37 min | 3 years ago

"federal market committee" Discussed on Bloomberg Radio New York

"This week Mark the one year anniversary of Jay Powell as Federal Reserve chair his legacy Jason so far kind of shared with former fed chairman his predecessor Janet Yellen and one of kind of a lot of patients. But now it starts to get a bit trickier. Well, it gets a little trickier. And as we know he's had quite the relationship, at least from a public relations perspective with the guy who appointed him President, Donald Trump is celebrated his sixty sixth birthday by having dinner with rich Clarita, an President Trump here to help us make sense of the Powell legacy one year end Gina smiley joins us from Washington. So Jay Powell Gina. Where's he at these days? He is pretty much doing exactly what Janet Yellen did still. I think in the sense that he is still pursuing a really patient gradual rate path that is really aimed at allowing the labor market to make as much progress as. Possible while still restraining inflation. We heard him signal at the federal market committee meeting on January thirtieth the fed might be taking a pie sound for the foreseeable future. So still very much taking this sort of cautious approach. And I think I think it's a real client story of continuity, so far. Well, and let's remind folks that back in December. If we're having this conversation six weeks ago, it would be very different because the markets the president everybody was a little grumpy with Jay Powell, actually impatient with. Yeah. Absolutely. But I think one of the things that I think is so interesting about looking at legacies Janney. Allen's legacy and j pallets legacy insurance comparing them is at the end of the day. They followed a really similar what is called in it walks reaction function. You know, they both moved rates up when the economy was looking stronger and inflation looks like it might be headed up and unemployment was headed lower, and they both have positive when it seemed like there were risks on the horizon. Immediate signs that Bobo growth was showing some cracks at cetera. And so what I think is particularly interesting about that is Janet Yellen repeatedly took fire from every side because she was going to slow on rate hikes. And there is this real concern that she was going to let inflation get out away from her. I think Jay Powell took criticism for the exact opposite reason because they miss this idea that he was going to hike right into a recession. The fed was going to be the cause of the next recession. And now that he's paused. It's funny because he's taking a lot of heat for capitulating to the markets. Very kind of you know, you can't win and let's get into that a little bit right? Because here we are just what a few months away four five months away from being the longest US expansion on record. We keep talking, you know, over the last couple of years about a Goldilocks economy, not too hot. We still have job growth. But it's a tricky time for Jay Powell in terms of what he does next. Absolutely. And here is I think the moment where j pals like if he diverges from the patch. Janet Yellen set out. Out for him. Because what pal is going to have to do together with his colleagues over the next. Couple of years is create some sort of a playbook for the next recession. We have already seen him sort of decide what's going to happen with the balance sheet, the fed decided at their January meeting that they're going to stick with their current operating framework on the balance sheet had a slightly bigger balance sheet, and they had in the past. That was a big decision. We've got even bigger decisions down the road. They're going to have to talk about things like is the inflation target the right one to be using what you do in a world where interest rates are permanently lower, which means you have less EMMY Nisshin, if there is an economic crisis because the feds primary tool to fight crises Israeli, cutting that that funds right if their most potent piece of ammunition in their in their took it, and so I think there's there these real questions, and they're not resolved in J Paul is going to be the person in charge of the committee when they have to think through those questions, and and come up with answers that could potentially be politically difficult and Gina help us understand. And you alluded to this a little bit earlier. What role do the markets play? I mean, obviously, they wanna be the fed says that they look at all the data their data dependent patients all of that good stuff. And yet they can't ignore the opinions, shall we say sometimes stated quite loudly of the markets and the way markets are moving and their reflection of consumer sentiment and all of those other things so how does he put all this together? I think there's a real nuance that gets overlooked in this because a lot of times people sort of paint us instant staccato me where the fed says, they don't look at markets. But clearly, they do and and there's this idea that there's a pow, but I think what really happens is the fed looks at asset price movements inasmuch as they impact economic outlook. Stocks are selling off. And it seems like the kind of thing where it's actively affecting business and consumer sentiment, and it might have gone effects for the economy. They care about that. If stocks are selling off. And credit spreads are tightening or widening. And what what you see is something that could feed into financial conditions overall and really restrained growth in the economy. They care about that what they don't care about is a temporary blip in the stock market where you know, stock markets get mad because Jake Paul said he's going to hike rates again they sell off then they recover quickly. Don't think they particularly care about that. Would they care about is sustained moves that might bleed into the real to me? And they absolutely look at that. It is clearly something that they're thinking about when they're setting interest rates, and I think they're fairly transparent about that. Like, I said, I think the new ones gets lost Gina. I definitely do feel like speaking of nuances I feel like J Powell's kind of learning on the job. Right. A year end. Certainly if you take a look at the most recent fed meeting and the press conference and kind of what we what we heard prior to that leading up to it about kind of being willing to do what needs to be done to some extent and looking at the financial markets and then meeting with the president not unprecedented. But it doesn't happen a lot. So I feel like he's learning how to manage the situation. Whether it's the finance. Markets or whether it's the White House. Yeah. And I love to talk about that meeting with the president. Because I think it's particularly interesting on this point. You know, he like you said it's not unprecedented for fed chair to meet with the president. They actually sort of routinely do meet with the presidents who appointed Ben. But what's different here is that Donald Trump has been extremely critical of Jay pal in a way that really since the nineties no president has been of their fed chair since Bill Clinton was in office, basically presidents have really taken made a point of letting their fed chair do it as they will not commenting on it and not pressuring them to go one way or the other on interest rates. Donald Trump has been very open and has tweeted actively and giving interviews in which he's criticized house actions and said he shouldn't be hiking rates in the and he's the biggest problem economy has right now things of that nature. And so I think that this meeting took on a real added importance and west momentous because of that and the fed actually gave us a read out saying informing us at the meeting happened in the first place the White House. And then saying that how really just went in there and reiterated this idea that the fed is a politically independent institution that they will hike rates if they're finding warrants it, and that they are tasked with this through goal from congress of stabilizing unemployment at a low level and maintaining low and stable inflation. And that is the thing that they serve above all else. Not the White House. That's bloomberg. News fed reporter genus smile. Like smart story about Jay Powell fed chairman, and what his legacy will be so far he's really followed. What Janet Yellen his predecessor has done in terms of lots of patients right in following what's going on. But he is living in a tricky time in terms of managing the economy and the impact of fed policy on the economy, so great historical perspective as you say and.

fed Jay Powell President Janet Yellen Jay Powell Gina Donald Trump White House chairman Powell President Trump Gina smiley US Washington Janney Jason
"federal market committee" Discussed on Knowledge@Wharton

Knowledge@Wharton

05:27 min | 3 years ago

"federal market committee" Discussed on Knowledge@Wharton

"Podcast is brought to you by knowledge award. The Federal Reserve last week announced that it is going to be patient about interest rates and hold off raising them for now fed chairman Drome pal tributed, the temporary halt to issues like trade tensions Brexit, and the impact of the partial government shutdown is creating economic uncertainties in the last few months, President Trump has openly criticized mR pal for and the fed for raising rates and in Trump's opinion slowing down economic growth. But in making his announcement, Mr Powell said, quote, where never going to take political considerations into account or discuss them as part of our work in quote with more on the Fed's decision, and what it means for consumers were joined here in studio by Peter Conte Brown who is assistant professor of legal studies and business ethics here at the in school. And also joining us on the phone is Rodney ram Charan who is the socio professor of finance and business ethics at the university of southern California. He also served as I. Chief of the semantic financial institutions and market section with the board of governors of the Federal Reserve Peter great to see again. I was a pleasure. Rodney gray Debbie back with is. Thank you, sir. Same. Yeah. Thank you. So in this economy right now, the idea of not raising rates means what Peter I think the it means a heavily empirical Federal Reserve, I think, and that's that's something to take very seriously. We could have substituted that additive empirical throw righty by the things that would also fit the narrative heavily heavily political Federal Reserve, for example, and other words, the last six months or so of President Trump's cage rattling at the fed seems to have been effective in causing the Federal Reserve rivers. Its course that's a narrative that people can tell but I don't think it's an accurate one. I think with the fed has done is there a couple of voices on the federal market committee. That have been banging this drum for a long time. And the pause is saying, well, the the world of uncertainty continues to swirl around site and our concerns both on you know, topside inflation concerns, but also in our haste toward rate normal. Can overdo things in a world of great instability. Now, interestingly enough the factors that that Powell identified are themselves, politically, conomic sure, have Brexit trade concerns government shutdown, right? It's not just about about other broader trends. But he's aware of those two things like secular stagnation things like the -bility of the Phillips curve, which put inflation and unemployment and conversation with each other. So I take from this is actually pretty reassuring that the fed the federal market committee generally is trying to go slow and understand a changing world as it changes before them. Rodney your thoughts. I think that's very good to think about it. I think the fed is operating in a world of tremendous insistent and the dictum in such a case as you wanna go slow as you can and wait and get the data. It's a little bit of a paradox that the president has attack the fed it was and by attacking the fed he in facts makes it more difficult. He makes vigil more difficult than Civita off in the sense that he forces them to do things that would go against his own interest. So in the sense that if the fed is perceived to be acquiescing to the political pressures from from the lighthouse it in fact changes inflation expectations and can lead to mowing flation, which can then prompt the fed to be forced to raise interest rates. They fast pace what they have done. Instead e what the fed has done. Instead, I think quite wisely is looked at the situation in China. The Chinese growth rate is slowing for the first time in a longtime and do you as well. I think last hit the gym and growth rate slowed quite sharply as well. All stuck knock. It is highly uncertain than suck Schuette's great deal and the situation and trade is deeply problematic, and why trade is problematic is because any movement and terrorists if you increase it is going to increase inflation, the United States, and that again makes the feds job very difficult. So what they've done is said given all of this uncertainty on the international front on the inflation front, and that's wait. And we've raised rates about two percentage points to to to an quota points. Let's pulls at this point. And you know, how this takes how how takes hold, and I think that's the wisest way to think about it. And what's interesting is that when you look at the these couple of examples not that it's a certain. But the potential of some of these events playing out and being solved one way or the other has the opportunity to be there in the relatively near future. I mean, obviously, the idea of of of a potential and government shutdown. We know where you know, within two weeks of that either happening or not happening. We know that you know, Brexit, you know, you have the March twenty ninth deadline, and we know that something is going to happen one way or the other at that point. And the expectation is kind of the

Federal Reserve Peter Conte Brown President Trump Mr Powell Rodney gray Brexit Drome pal tributed president professor of finance university of southern Califor assistant professor I. Chief mR pal chairman China Phillips Civita United States Schuette
"federal market committee" Discussed on KCRW

KCRW

01:51 min | 3 years ago

"federal market committee" Discussed on KCRW

"As members of the federal market committee will do meant you were rotating into oblivion Conti Brown says the. The culture started changing in the nineteen eighties. When then chair Paul Volcker was ratcheting up interest rates read, the fed transcripts, and you see more and more input. By those who didn't have the vote by the time. The financial crisis hit in two thousand seven everyone in the room seemed to have an equal voice. And there was plenty of disagreement. But the nature of the culture is you don't want to seem like you're totally deviant outside the norm. That's Richard Fisher. Who is head of the Dallas fed from two thousand five to twenty fifteen. He says the fed always presents a United front, but there are places to express yourself. If you want to vent like the speaking circuit. I made a lot of speeches speech. It's during the financial crisis about near-zero interest rates pouring so much cheap money into the economy that it was hurting savers and encouraging risky investments that over time might sink the economic ship and the liquidity could slosh around the hall to ship. And if it got out of control could capsize this show reflecting on his decade at the Dallas fed in two thousand fifteen Fisher spoke at the economic club of New York where he called for the New York fed to share the vice chairs position on the FOMC has I uttered those words, I could tell I was in the doghouse people have questioned whether the voting rotation should be more. Let's say equal, but that would take an active for congress. In the meantime, Boston, Chicago, Saint Louis and Kansas City move into voting position today. Cleveland San Fran Richmond. And Atlanta move out. The shift isn't expected to tip the balance of the fed any further toward raising interest rate. Rates in Washington..

Richard Fisher Dallas Paul Volcker Conti Brown Cleveland San Fran Richmond New York Atlanta congress Washington Saint Louis Kansas City Boston Chicago
"federal market committee" Discussed on WNYC 93.9 FM

WNYC 93.9 FM

04:09 min | 3 years ago

"federal market committee" Discussed on WNYC 93.9 FM

"For political office in New York and Justin how for marketplace. This is a couple of days for monetary policy. Watchers the Federal Reserve meets today and tomorrow on interest rates and the general health of the economy, technically, actually, I should say that it's the Federal Open Market committee. That's kicking off its first two day meeting of the year. The FOMC is going to vote on whether to raise interest rates. Spoiler alert. They're almost certainly not going to raise rates. But the reason I mentioned it is that this being January exactly who gets a vote has changed. Marketplace's Nancy Marshall genzer explains. When fed chair Jerome Powell walks into a press conference to announce the decision on interest rates as he did last month. Today, we raised our target range for the short term interest rates by another quarter of a percentage point Powell make it all the glory or blame but rates are actually decided by a vote of the FOMC. There are typically nineteen members. But only twelve vote Powell always six other fed governors. Always the head of the New York fed always. But the president said the other eleven Federal Reserve Bank spread across the country rotate for on seven off former fed economist and Owen says there's a reason for that. If all the Bank presidents participated each year, then the regional Bank presidents would then dominate the FOMC. The rotation hasn't changed since one thousand nine hundred thirteen when the Federal Reserve was established cities that had bigger populations back then like Cleveland and Saint Louis get the vote every other year for cities that were on the frontier like San Francisco Dallas, it's one year on two years off, historically, the vote meant everything Peter county Brown is a fed historian at the university of Pennsylvania. He says when it wasn't your turn to vote. You had no voice and a rotating out as members of the federal market committee do meant you were rotating into oblivion county. Brown says the. Culture started changing in the nineteen eighties. When then chair Paul Volcker was ratcheting up interest rates read, the fed transcripts, and you see more and more input. By those who didn't have the vote by the time. The financial crisis hit in two thousand seven everyone in the room seemed to have an equal voice. And there was plenty of disagreement. But the nature of the culture is you don't want to seem like you're totally deviant outside the norm. That's Richard Fisher. Who is head of the Dallas fed from two thousand five to twenty fifteen. He says the fed always presents a United front, but there are places to express yourself. If you want to vent like the speaking circuit. I made a lot of speeches speeches during the financial crisis about near-zero interest rates pouring, so much cheap money into the economy that it was hurting savers and encouraging risky investments that over time might sink the economic ship, and that that acquitted he could slosh around the whole the ship. And if it got out of control could capsize the ship reflecting on his decade at the Dallas fed in two thousand fifteen Fisher spoke at the economic club of New York where he called for the New York fed to share the vice chairs position on the FOMC has uttered. Those words I could tell I was in the doghouse people have questioned whether the voting rotation should be more. Let's say equal, but that would take an active congress. In the meantime, Boston, Chicago, Saint Louis and Kansas City move into voting position today. Cleveland San Fran Richmond. And Atlanta move out. The shift isn't expected to tip the balance of the fed any further toward raising interest rate. It's in Washington. I'm Mitzi Marshall.

FOMC Federal Reserve New York Jerome Powell Federal Reserve Bank Richard Fisher Dallas Nancy Marshall genzer Saint Louis Cleveland San Fran Richmond Paul Volcker Mitzi Marshall regional Bank Justin Peter county Brown Bank Cleveland president
"federal market committee" Discussed on Marketplace with Kai Ryssdal

Marketplace with Kai Ryssdal

03:44 min | 3 years ago

"federal market committee" Discussed on Marketplace with Kai Ryssdal

"This is a bit couple of days from monetary policy. Watchers the Federal Reserve meets today and tomorrow on interest rates and the general health of the economy, technically, actually, I should say that it's the Federal Open Market committee. That's kicking off its first two day meeting of the year. The FOMC is gonna vote on whether to raise interest rates. Spoiler alert. They are almost certainly not going to raise rates. But the reason I mentioned it is that this being January exactly who gets vote has changed. Marketplace's Nancy Marshall genzer explains. When fed chair Jerome Powell walks into a press conference to announce the decision on interest rates as he did last month. Today, we raised our target range for the short term interest rates by another quarter of a percentage point Powell make it all the glory or blame but rates are actually decided by vote of the FOMC. There are typically nineteen members. But only twelve vote Powell always is six other fed governors. Always the head of the New York fed always. But the presidents of the other eleven Federal Reserve Bank spread across the country rotate for on seven off former fed economist and Owen says there's a reason for that. If all the Bank presidents participated each year, then the regional Bank presidents would then dominate the FOMC. The rotation hasn't changed since one thousand nine hundred thirteen when the Federal Reserve was established cities that had bigger populations back then like Cleveland and Saint Louis at the vote every other year for cities that were on the frontier like San Francisco in Dallas, it's one year on two years off, historically, the vote meant everything. Peter Conte Brown is fed historian at the university of Pennsylvania. He says when it wasn't your turn to vote. You had no voice. It's a rotating out as members of the federal market committee would do meant you were rotating into oblivion Conti Brown says the. Started changing in the nineteen eighties. When then chair Paul Volcker was ratcheting up interest rates read, the fed transcripts, and you see more and more input. By those who didn't have the vote by the time. The financial crisis hit in two thousand seven everyone in the room seemed to have an equal voice. And there was plenty of disagreement. But the nature of the culture is you don't want to seem like you're totally deviant outside the norm. That's Richard Fisher. Who is head of the Dallas fed from two thousand five to twenty fifteen. He says the fed always presents a United front, but there are places to express yourself if you wanna vent like the speaking circuit. I made a lot of speeches speech. It's during the financial crisis about near-zero interest rates pouring so much cheap money into the economy that it was hurting savers and encouraging risky investments. That overtime might sink the economic ship and the quantity could slosh around the whole the ship. And if it got out of control could capsize the ship reflecting on his decade at the Dallas fed in two thousand fifteen Fisher spoke at the economic club of New York where he called for the New York fed to share the vice chairs position on the FOMC has I uttered those words, I could tell I was in the doghouse people have questioned whether the voting rotation should be more. Let's say equal, but that would take an active congress. In the meantime, Boston, Chicago, Saint Louis and Kansas City move into voting position today. Cleveland San Fran Richmond. And Atlanta move out. The shift isn't expected to tip the balance of the fed any further toward raising interest rates. In Washington, I'm Mansi Marshall genzer for marketplace..

FOMC Federal Reserve Jerome Powell Federal Reserve Bank Peter Conte Brown Richard Fisher Dallas Nancy Marshall genzer Saint Louis Cleveland San Fran Richmond New York Paul Volcker regional Bank Mansi Marshall Bank Cleveland university of Pennsylvania