35 Burst results for "Genzer"
The U.S. Imposes Economic Sanctions on Russia
"The us impose economic sanctions on russia. I mansi marshall genzer with the marketplace minute. The biden administration will prohibit u. s. financial institutions from buying bonds from russia's central bank national wealth fund or ministry of finance those sanctions will make it harder for russia to raise money internationally. The biden administration is imposing the sanctions partly in response to the solar wind cyber attack
Stablecoins in the Hot Seat: Powell Calls Bitcoin a Substitute for Gold
"There was an absolute flurry of content and commentary yesterday around the place of bitcoin. Stable coins defy and the digital asset industry as a whole vis-a-vis. Us government regulation as well as how a digital dollar might shake that all up before we get into it. Let's at the terms of the debate. One of the competitors for this cycles top fudd is the government will ban it if it gets sufficiently threatening now to be clear banning depending on your sister could mean anything from an outright ban of use in holding too forceful seizure too limiting access to on and off ramps to the more benign from a commercial standpoint but no less threatening from a privacy standpoint integration of the full crypto infrastructure into the am l. kyc. Money surveillance apparatus. I've spent some time on this show looking into global versions where this fudd seems to be playing out in particular. We've been watching the evolving situation in india and nigeria india which seems gearing up for a bill that would have some sort of outright ban although at least one finance minister says that that's not the case and nigeria. Where the central bank of nigeria. I reiterated that banks should not be working with crypto users which they've then subsequently rolled back just a little bit either way however really what everyone has been focused on is the us particularly in the context of a new administration. The last administration had friends and foes alike when it came to bitcoin and crypto trump. Famously tweeted that he did not like bitcoin or crypto. But we didn't really take that seriously as a threat because it was so clearly about zuckerberg and libra mnuchin was a much bigger enemy. Probably wrote that text for trump's tweet even and clearly wanted to tighten the reins in his final act. He was trying to require exchanges to collect more information. When users transferred crypto to their own wallets on the flip side however there was brian brooks who was absolutely revolutionary at the office of the comptroller of the currency. The changes he oversaw are a huge reason. Why so many big institutions are now playing in this space. Why so many big traditional banks feel like they have to race to catch up to allow people to offer their customers crypto services however as we know from physics every action has a reaction and to some extent one reason why observers are so keenly watching the biden administration is to see how much they're going to respond or try to walk back with brooks in the occ changed on top of that. As the biden administration has come to power the price and volume around bitcoin stable coins and the rest of the digital asset industries have made them much more on ignore -able last time joe biden was in office. Bitcoin is about four hundred and thirty bucks. Now it's been over fifty thousand dollars for sixteen days in a row tether was barely out of diapers now. It has a market supply above forty billion in his doing upwards of one hundred billion dollars in volume per day combined with us dc. And you've got over. Fifty billion dollars of usd approximates there so lot more is at stake with that. People have been watching. Two things has come in and what they're saying on the who has come inside. Janet yellen is back for another round although this time is treasury secretary rather than as he chair gary genzer to is back. Although this time is as he c- chair. Instead of cftc chair of these two there is much more optimism around gessler who has done a pretty fair bit of work to understand where the crypto industry is coming from even teaching a course at mit about bitcoin and blockchain. And of course we have someone who still around in the form. Of jay powell. The federal reserve chairman. His ex factor. And all these discussions is the potential of a central bank digital currency a digital dollar. That could potentially shift the us's relationship with these projects now in terms of what we've seen these actors say so far over the last few months up until now it's been pretty standard fare one part. There's a lot of exciting potential here. One part we have to protect investors though and one part but it's also used by criminals over the last couple of days however we've gotten both comments and news that could shift as into our next phase of understanding what the us is relationship with. Bitcoin stable coins and other digital assets is going to look going forward. So let's talk about powell speaking about cdc's and cryptos at a bank for international settlements panel yesterday. Let's talk about the announcement of digital dollar prototypes coming this summer. And let's talk about new draft fat. If guidelines around cryptocurrencies. I up powell. Did a session yesterday with leaders from the bank for international settlements including augustine carstens. We talked about last week. He was asked about crypto currencies. And whether he saw them as a threat. And here's what he said. We call them crypto assets. You know. they're they're highly volatile. See bitcoin and therefore not real useful as a store of value in there not backed by anything. They're more of an asset for speculation. So they're also not particularly in use as a means of payment. It's more speculative asset. That's it's essentially a substitute for gold rather than for the dollar. And i think with crypto acids the the the public needs to understand the risks. The principle thing is there's the volatility there's also the outsized energy requirements requirement for for mining. And the fact that they're not backed by anything so let's break out these three reasons that he wasn't particularly impressed by cryptos. I this idea of volatility or that. It's just an asset for speculation. Basically he's dismissing bitcoin and any other crypto as something that he does not have to stress about or really factor into his consideration around global monetary competition while many. Bitcoin is grabbed onto the essentially a substitute for gold piece as a great tweet and knocked to the gold bugs. Who they're trying to convert or at least undermined powell was saying this more. Like a giant shooing away. A fly gold is to him clearly. Irrelevant an unimportant antiquated part of the fiat system that he sits at the helm of in that way a substitute for that thing does not present a threat
How Will You Receive Your Next Government Stimulus Payment?
"So how do you get those relief payments. The white house says will start going out this weekend. I'm nancy marshall genzer with the marketplace minute if the irs already has your bank account information you're all set and could get your money days otherwise you'll get a paper check or debit card if you've already filed your twenty twenty taxes. That's what the irs will use to determine if you're eligible for a payment if not it'll use your twenty nineteen return.
Millions to receive relief payment via debit card
"I have needs. It has to be its consumption. And that's the thing want debit cards can also be cheaper than checks for people who don't have bank accounts cashing a cheque cost them money. But with a card says shantelle boyens with the urban institute there is a network of. Atm's where you have the car you can access your funds without any feeds but people can only make one withdrawal for free from an out of network atm after that. It costs two dollars boy in says the income people are more likely to pay those fees. They may be located in areas where they don't have as good of access to in network. Atm's the cards also come with terms of service. An ira rheingold. Executive director of the national association of consumer advocates says some of them put card users at a disadvantage. You consumer if you have a complaint you cannot go to court. You cannot be part of a collective action. A class action members of congress sent a letter to the treasury this week asking it to remove those clauses and reduce any fees. I'm justin ho for marketplace lawmakers tucked a provision banning surprise medical bills into this latest relief. Package those are the unexpected charges from out of network healthcare providers that can add up to tens of thousands of dollars. One thing. that's not yet. Clear is how this might affect insurance premiums marketplace's nancy marshall genzer explains. It's a nasty shock without realizing it. You retreated by a healthcare provider. Who was out of network surprise. You're stuck with a huge bill. Jen taylor with the consumer advocacy group families. Usa says some of the biggest unexpected medical bills. Come from air ambulances where people were getting a fifty thousand dollar bill and they were unconscious and put into an ambulance and had no say in the matter. Once this surprise medical bill legislation goes into effect in
A clear disconnect between the Treasury and the Fed
"Janet yellen in her first official remarks as treasury secretary nominee. Maybe giving congress low. Poke in the eye. Inaction will produce a self-reinforcing downturn causing more devastation. So that's the maybe there is help on the way news of the day. The oh no. There's not came to us from fed chair. Jay powell and treasury secretary steven mnuchin in congressional testimony this morning summing up their views on the state of this economy and as marketplace's nancy marshall genzer explains. There is a disconnect. If you watch. Chair powell and secretary mnuchin senate banking committee testimony today and i know you did. You'd think they were talking about two different economies. First mnuchin said the october jobs report showed that the economy has gained back. Twelve million jobs since april and powell followed up with although we welcome this progress we will not lose sight of the millions of americans who remain out of work. Powell looks at the big picture. Mnuchin is focused on the letter of the law and the cares act did specify that some pandemic aid stop at the end of the year as the economy recovered mnuchin acknowledges that some additional help is needed but he also points to the falling unemployment rate. Catherine judge is a law professor at columbia university. The look at where we are this quarter relative to last quarter and they look at the rate of improvement. The unemployment rate did fall to six point nine percent in october. But that's still almost double the jobless rate before the pandemic hit the us adam ozimek chief economist at the jobs would site. Upwork says powell sees the glass half empty wall. Mnuchin says it's half full and mnuchin could make it harder to convince wavering members of congress to vote for another relief package. You can't really rally the troops as long as you're describing glasses full if congress doesn't pass another relief bill. Williams college economists. Ken kutner says the fed will say. Look if you guys can't get your act together and pass some fiscal stimulus you know. It's going to fall for the fed to try to try to take that slack as best we can and kutner says the feds tools are not ideal for that fed chair. Powell has said repeatedly. The fed makes loans not the grants that struggling businesses and jobless workers need right now.
Can unemployment insurance be fixed?
"Thirty eight days a little bit more than a month gets you to the day. After christmas and the expiration of most of the federal unemployment programs that were passed last spring in the cares. Act that in and of itself is not good economic news. Neither to is the reality that there are no negotiations happening right now. In congress on more relief democrats and republicans aren't even talking and so according to research out today from the century foundation twelve million people who are out of work in this economy are thirty eight days from losing their benefits. Marketplace's nancy marshall genzer explains what that's gonna mean for them and for us without a deal. December twenty six will be a grim day for unemployed workers and a us economy andrew stenner with a century foundation. Says it's like twelve million workers and their spending power will fall off a cliff. Even if you thought you had ten eleven twelve nine weeks left. You won't get those weeks. You get cut off that exact week. Benefits for gig. Workers and the self-employed are ending as is federal. Help for most people who've exhausted their state benefits stettler says black workers in the service sector will be hit especially hard since so many of those businesses have closed. Kimberly austin is a black artist. Who lost her job. As a face painter at legoland near san diego she wants federal action now. The should not eat a political joke to anybody. This makes no sense. Austin has been getting by on two hundred eighty five dollars a week in unemployment. she's uninsured and the inhalers she needs for her. Asthma cost. Two hundred dollars jason. ye doesn't have health insurance either. He's an accountant in los angeles. Who was laid off last june. He's been living on four hundred fifty dollars a week plus his savings. The cliff will be bad because eventually with no benefits. Then you know it'll be a hundred percent savings. He says savings will run out in february. He could tap into a retirement account but he's only fifty five. That means an early withdrawal penalty at penalty waiver in the cares act also expires at the end of the year.
The GDP report isnt the whole story
"Come on repeat after me, you have been hearing or reading it all day I know the US economy. The US economy con grew at an annual rates GRUDEN annual rate of demain fill in the blank. You know it right thirty, three percent in the third quarter. Again, that is annualized or just from July to September compared to a quarter earlier growth rate was seven point four percent which sounds great. It does and Kinda is, but it doesn't get us back to where we were or. Where we might have been without this pandemic marketplace's Nancy Marshall Genzer gets his going with the output gap. We've all been there. Sometimes, we just don't live up to our potential former Fed economist Claudia Psalm says it's kind of like what happened in her house this morning when her fifth grade son had to retake virtual math test the teacher knew what his potential was but and because he wanted to get done with school and play on his IPAD, he didn't put in the time and do his best work. Some says it's the same with the economy. The output gap is the difference between what the economy is actually doing versus what it could do before cove it in recent years. GDP has been growing at two percent or more, but it just means that we know what we could be, and if we're not there yet will then we've gotta do gotTa do better even with today's strong GDP number we've only made up about sixty percent of the economic ground we lost in the first half of this year according to nationwide senior economist Benares. He says, that's partly because consumers are still avoiding risk. Your consumers are still down about a third from what they normally spend overall. Certainly, most of that's focused on the service sector with people not eating out as much. Music concerts anything that would involve large groups. Dissolution Solution here is pretty simple, less virus and more economic relief from Congress. Another Relief Bill Greg Dako chief economist at Oxford Economics says a lot of consumers relied on extra federal unemployment payments that ended over the summer as these transfers slowly faded out consumer spending activity has. Called Dako says it'll be at least another year before we get back to a normal rate of economic growth without another relief package he says, it'll take even longer I'm Nancy Marshall Genzer for marketplace.
What happened to the Postal Service?
"If you had the United States postal service as a partisan political proxy on your Twenty Twenty Election Bingo card. You. Win. I guess the politics of it we will assume you're mostly familiar with speaker. Nancy Pelosi is calling the house back into session legislation likely postmaster general and CEO Louis Joy has said he will testify. But as all of that plays out a detour here if we might to the postal services business model reality yes. The digital age has brought its challenges to the USPS but as Congress tries to figure out how to repair the damage. Might do well to look in the mirror for a little bit. Here's marketplace's Nancy Marshall Genzer. The Postal Service is supposed to be self funded not getting any government money, but the post office is still tightly regulated by Congress and in two thousand and six Congress passed a law requiring the postal service to prepay health benefits for retirees. Jim Campbell is a lawyer and consultant on the Postal Service resorted the postal service to pay for ten years about five and. A half billion dollars a year into this prepayment fund that thinking was paid forward. Make sure the money is there when retirees need it. But Campbell, says federal agencies don't have to make these prepayments and the post office couldn't do it. Campbell says it missed more than half of the payments to make matters worse congress capped postal office price increases for letters circulars at the rate of inflation. So the postal services kind of caught in this squeeze. Cornell University public. Policy Professor, Getty's says Congress, also still requires the post office to deliver to every mailbox in the country six days a week. So this is a recipe for fiscal problems serious fiscal problems and serious debt frank disco has been tracking that he's chief actuary at the US Government Accountability Office. He says the postal services more than one hundred, sixty, billion dollars in debt over the past decade, the dead and unfunded liabilities like pensions and healthcare have outpaced the revenues the. Postal Service takes in. So it's doubled from a little more than one times annual revenue to over double annual revenue to disco says the Postal Service has been losing money for a decade, not a sustainable business model, but the post office can't change that model without Congressional
US consumer spending sinks by record 13.6% in face of virus
"Aniela let me start with you and With the caveat that we're GONNA have Nancy Marshall Genzer here in a minute talking about personal income. I want to get your take as the trained economist in the room on the on the thirteen point something percent drop in consumer spending in the past month and I want you to frame it in terms of well. Consumers are basically this entire economy. Now what do we do right? The consumers are the engine of growth for the economy but the consumer has been staying at home. Many of us are under lockdown orders. That are just now starting to ease and so what we've seen. Is this phased in transition from a near lockdown of the national economy in April to a phase reopening That's happening in stages in so consumer spending is under the weight of that lockdown in terms of. Well there's nothing to spend our money on besides basic goods But also Some fear about re reengaging with the economy without social distancing protection and so the key to the recovery will be that consumers feel healthy both physically and financially to get back to spending at their normal levels. And we're GONNA talk about that a little bit with with Marshall Genzer Minute Gina As sort of along those same lines Fisher J. Paul did a thing today with Ellen blinder at Princeton Sort of a Q. And a. It was. It was a very nice little chat with those guys who've obviously known each other forever. But one of the things Alan blinder said. He's a professor of economics at Princeton. He said look. You guys are crossing some red lines in this crisis and Powell came back and said. Yeah you know what? I'm okay with that because this is different. I thought that was a remarkable thing for the guy running the American economy to say remarkable. You know basically said emergency unlike anything we've ever seen before if we didn't cross the red lines we'd have to explain ourselves to the American people and say why. Why didn't you do everything you possibly could do to save. The enemy was a remarkable statement. I think it's it's really interesting coming from pal too because he has historically been particularly concerned about crossing. Some of the red lines at the Fed has crossed one of them for example is fine municipal debt. You know. That's that's something Derek opt to start doing. It's something that he's been asked about four in asked he was always very quick to say. That's a lie. Don't Cross picking winners and losers This crisis Bonilla's so Senate Majority Leader Mitch. Mcconnell said today just sort of on those along those lines of this being you know an unprecedented crisis senator. Mcconnell said today you know the next relief bill whenever it comes Is probably going to be the last one you buy that now. Not at all because we're still in the early transition of the of the economy. The second quarter is supposed to bear the brunt of the economic toll of covid nineteen remember. We've already seen a five percent decline and US GDP just on basis of two weeks of a shutdown in late March. So imagine what the second quarter is going to look like and you know. Much of the stimulus has come at a time when people can't spend because they're at stale they're staying at home so I expect that there will be more stimulus. We may see some some green shoots of recovery in the second half and it's likely that we will but that's going to be in the midst of an uptick in bankruptcy says firms struggle to make this transition and some longer term effects in terms of the forty million people who are now seeking or have Unemployment benefit so. There's a long red to recovery and I don't think we get it. We get out of a relief effort from the from the government that quickly so junior. You did a piece of honestly and I apologize. I don't remember if it was today or yesterday about the shape of this recovery in the line stuck with me is v stands for very unlikely which I kinda love. Let's riff on that. Green shoots thing What do you see out there that gives you hope if anything right so I think if there's one hopeful take away from that road it's that we're not in for an out so it's very unlikely the growth just fell off a cliff and it's just gonNa stay low forever and that's it because what we're seeing is that activity is picking up in an starting at certain improve as we kind of get used to living in this world at a one thing that's important to note? Is that activities picking up in places that have reopened not really markedly different way than it is in places that have reopened more fully at While to sign of green shoots. I think it's also reason to be modest in our expectations. What's going to happen? As we reopen doesn't seem like he blurts pouring back into their lives with unbounded doozy Azam. Here nearly you by that. And what green shoot do you like it if any well I? I think it's the preconditions that we were. In prior to the pandemic. It's important to remember. This is a a biologically triggered downturn that the economy wasn't broken Going into the outbreak in the pandemic and so there are several things that were already in place like a healthy banking system that can support some pretty intense and aggressive fed action through the banking system. That wasn't the case in during the financial crisis the banks were the problem. We've also seen consumers have relatively healthier balance-sheets than they did during the financial crisis in terms of them out of debt relative to their income. So some of those conditions will help with the economic toll. But right it's going to be. I think a slower road than a V. shape And it's going to be based on biological and medical advancements not just reopening alone
How to read those unemployment numbers
"Los Angeles. I'm Kai Ryssdal. It is the twenty first of May today as always to have you along everybody and we begin on Thursday. I think. Actually this is the eighth or ninth Thursday in a row with yet another staggering report on people filing for unemployment benefits in this economy. Two point four million people this week down yes from a week ago but still basically the entire population of Houston Texas. Now which need to know though. Is that those weekly unemployment claims. Come in two varieties marketplace's Nancy Marshall Genzer gets us going with the difference between the two and why that difference matters initial jobless claims are how many new people file for unemployment benefits in a week. Continuing claims measured the total number of workers on unemployment. Erica gration the former head of the Bureau of Labor. Statistics says think of it like a bathtub. The initial claims is how much water is flowing into the bathtub and the continuing claims is how much water is in the bathtub. Each numbers important Chris. Rupp key chief. Financial economist at the Global Financial Group G follows both well. That's why God gave us to do. Is You have to watch both that. Rookie says when he wants to tease out underlying trends that continuing claims numbers more important. Because the minute the total number of people receiving unemployment starts to come down. That's the key signal that the labor markets improving the continuing jobless claims numbers will play a key role in whether the post corona virus recovery. Looks like the or you. Meaning the economy improves quickly. Or is flatter like an L. Dartmouth College Economists Patricia Anderson will be watching that if the continuing claim start falling. Fairly rapidly than. That's good signs that we might be more. U shaped than l-shaped Anderson says if the continuing jobless claims just keep plodding along at about the same rate. That's not a sign that we're really turning the corner. I'm Nancy Marshall Genzer for marketplace
Congress isn't going to let Facebook's cryptocurrency happen without a fight
"Week. We're talking to marketplace reporters about what to expect from tech in the year ahead regulation is a big part of that conversation Shen and today we're going to chat about cryptocurrencies specifically libra the digital payments system in cryptocurrency proposed by facebook earlier this year. It seemed like it might be dead on arrival considering all the backlash but lawmakers have not forgotten about it. There are a few bills being considered by Congress that could have an an impact on Lebron's future including who might regulate it. Nancy Marshall Genzer reports on policy from marketplace's Washington DC bureau. I asked her to tell me about the bills that have been proposed. Here's one molly see if you can figure out what this bill would do. It's called keep big tack out of Finance. It's very very subtle would prohibit large platforms like facebook from becoming charter licensed or registered as a US financial institution There's there's another bill called. Stable coins are securities act. And this bill says that stable coins which are coins like libra pegged to a basket. Ask It of something that is considered stable so these coins are not supposed to fluctuate so securities being stocks and bonds. This bill says hey libra All the laws that apply to stocks and bonds are going to apply to you right so then just to clarify that that would put like the SEC in charge of regulating regulating something like libra. And take it away from being a fanatic purely financial product Sherwood the SE and possibly other government regulators. And of course the Fed has already said. Hey we're going to be regulating you libra and then the last one is on Privacy trying to Hit the executives of facebook because it says the issuers of stable coins would not be able to raise money on. US capital markets if they were paid with stable coin or if they worked with someone who is affiliated when the stable going so that would also be a blow to facebook. It wouldn't be able to raise money me in. US Capital Markets Sort of broadly. Around these regulatory efforts and others you know just returning to the idea of keeping being big tech out of finance that ship has sailed. It seems like we're really seeing a big tech companies already. Attempting to become financial institutions and digital currencies are just part of that. I wonder how you see regulation in two thousand twenty kind of scrambling to catch up with text ambitions around finance and banking and payments and cryptocurrencies. I think you're absolutely right. I mean the Horse already left that barn and I think that libra is such a bold. Step that that's kind of where they're planting their flag and saying look. You really have to slow down here facebook so there are three the bills on the table. Maybe more coming. Do you think any of those existing Measures are likely to pass. They'll probably pass the house The big question is whether they would pass the Senate. Of course. The House controlled by Democrats which attend to be a little bit. More leery of these types of things The Senate a little more interest industry-friendly three friendly controlled by Republicans So right now there are no cosponsors in the Senate for any of those house bills that I just listed it. That seems very interesting. That Republicans might be well. One argument that Mark Zuckerberg has made to and I wonder what you just think about. This in general is on On Capitol Hill. He's fond of saying things like if we don't do some version of libra China will do you like. Do you have the sense that that's an argument. That's working on the Senate it could be the you know both Republicans and Democrats are wanting to regulate facebook A little bit more but I think you know. Generally Democrats are more pro regulation than Republicans I think it would be more a matter of Republicans kind of shying away from regulation
Inequality is at a 50-year high
"A new report from the Census Bureau today the American Community Survey. It's called. ACS Vernacular shows that the gap between rich and poor in this country is the biggest. It's been since the Census Bureau started keeping track of it more than fifty years ago the wait. What part comes when I remind you that the American economy is in the longest expansion it's ever had and that unemployment is near record lows marketplace's. Nancy Marshall Genzer gets is going with the WHAT GIVES CBS. There's not just one thing pushing the wealth gap wider and wider. It's a mix of taxes the stock market even demographics but start with taxes the two thousand seventeen tax overhaul had big cuts for top earners and business owners it lowered corporate taxes to University of Florida economist missed Hector Sandovol says companies passed on the money. They saved to shareholders. This is who's benefiting a lot of people are really wealthy the middle class I got a tax break to but not as big wages are rising but not as much as they normally do during an economic expansion and Senegal says about eighty percent send if US households get most of their income from paycheck only about half of American households own stock an are like Sherman at the center on budget and policy priorities. He's says the return on investments can be higher than wage growth so you can make more money if you're an investor than if you're an ordinary working person and here's the demographic part those investments like stocks but also houses are concentrated among baby boomers. Donna Ginther an economist at the University of Kansas says the boomers kids the millennials aren't so lucky are millennials have debt. They haven't reached peak earnings potential so that would again generate more inequality ginther size that should start to change over the next decade and might help shrink the wealth gap a bit but will need more fundamental change I to close it in Washington. I'm Nancy Marshall Genzer for marketplace.
U.S. gas prices rise after Saudi oil attack
"We have been covering the historic spike in oil prices. After that attack on Saudi Arabia's oil production the weekend attack took away an estimated five percent of global oil supplies marketplace's Nancy Marshall Genzer is here with a Tuesday morning morning update Nancy. I'm seeing crude prices in Europe and the US down slightly today. Yeah Brent crude futures shot up to almost seventy two dollars a barrel yesterday and increase of almost twenty percent but by the end of the day Brent had fallen back to about sixty seven dollars a barrel. That's because traders realize realize there's a lot of oil in storage the US has its Strategic Petroleum Reserve President Trump has authorized a release of those reserves if necessary in Saudi Arabia says it has enough reserves to keep exports for the next month but most of that dramatic up word has stuck for now sixty two dollars. There's a barrel at the moment but we don't put crude in our tanks exactly we put gas at our tanks and we will definitely feel some pain at the pump David. I'm one analyst I spoke with expects us to pay ten to fifteen cents more a gallon over the next week. Other analysts are saying gas prices could rise ten to twenty five cents a gallon all right so an extra three dollars and seventy five cents per fill up with a fifteen gallon tank but what other prices could rise because of airline ticket prices because Airlines Airlines have a problem they have to absorb the oil price hike but they won't be able to raise ticket prices right away. They used to hedge on fuel but they don't do that anymore anymore. Exxon Mobil stock rose one and a half percent yesterday. Chevron went up two point two percent. BP up one point one percent some stock indices footsie see in London up two tenths percent here. The Dow future is down two tenths percent the S&P futures down a tenth percent
Nancy Marshall Genzer, Microsoft Research And Ellen Ameris discussed on Marketplace Morning Report with David Brancaccio
"It says the hat will cost it one hundred to one hundred fifty million dollars dollars this year and it's unlikely the stolen information was actually shared by the Hacker Nancy Marshall Genzer. Thank you now do peer reviewed research research that finds that Internet sellers and big tech companies are logging when people visit pornographic websites Google facebook and other firms may not use that data but it's often. They're the researchers say the way the Internet knows if you've been shopping for new shoes Ellen Ameris of Microsoft research is one of the authors of a paper in the journal New Media The and society titled Tracking Sex. Thank you for joining us at really thanks for having me so you found that when a person goes to a pornographic
Another Sign of Economic Worry: Tumbling Oil Prices
"The bear that attacked the oil market. I'm David Brancaccio in New York as you've been hearing talks will continue between the US and Mexico, head of the start of the Trump administration's new, import tax on Mexican goods after no deal yesterday. And today, President Trump threaten new tariffs on another three hundred billion dollars worth of stuff from China. Marketplace's Nancy Marshall genzer is in Washington. Nancy, what's what the crude oil market now? Well, oil prices are falling because traders are worried that demand will weaken as the global economy, slows and part of that slowdown, east due to the trade wars. US oil prices closed at less than fifty two dollars a barrel yesterday. That's twenty percent lower than just a few months ago, putting oil in what's called a bear market, but it's not just trade. What else is causing prices to fall bloated oil inventories for one, I this is started the summer driving season. So reserve. Are usually down right now but the US energy information administration says by the end of last month, there were almost seven million more barrels of crude oil in inventories compared to just the week before inventory levels are about six percent higher than the five year. Average for this time of year.
"genzer" Discussed on KCRW
"Fidelity brokerage services LLC. I'm David Brancaccio. The Justice department and Federal Trade Commission reportedly giving a up divvying up who will investigate big tech companies like Google Amazon Facebook and apple and there's confirmation that congress has its own antitrust questions yesterday. A house subcommittee announced it starting a bipartisan investigation. Marketplace's Nancy Marshall genzer is on the line. What's the congressional piece here? Well, the subcommittee wants to be sure that there's enough competition among tech companies, it says it's going to look into whether existing laws are adequate to tackle, what it calls abusive conduct from some tech giants or whether we need. New legislation to quote respond to this challenge. The subcommittee also says it'll investigate what it calls competition problems in digital markets. Specifically, what could congress do it couldn't say break-up Facebook, that's up to federal regulators? But congress does make the laws and current antitrust laws focus on whether companies are colluding to raise prices, but companies like Facebook. Don't charge their users. So the law might need to be changed, and as you mentioned, David, this is a bipartisan investigation. The sub committee is led by democrat, but the ranking Republican members on board, pow cooperative have tech companies when it comes to legislative investigations like this Nancy. Well, Mark Zuckerberg has testified before congress and the CEOs of Google and some other big tech companies have also testified, but lawmakers and other countries say they've been ignored. There was a big international meeting of legislator. In Canada, which Zuckerberg not attend. He did send representatives. But members of the Canadian parliament parliament are so annoyed. They could hold him in contempt of parliament, Nancy Marshall genzer in Washington. Thanks. Let's do the numbers with this antitrust talk Google stock fell six percent, Amazon, down four point six percent yesterday. But both stocks are up in three market trading. Now of eight tenths percent for Amazon. The NASDAQ down one point six percent. Monday is up eight tenths percent and futures trading the S and P future is up seven tenths percent. One of the titans of flower deliveries filed for bankruptcy and says will look to sell off its company in pieces,.
Five more U.S. states sue OxyContin maker Purdue Pharma over opioid epidemic
"Of Oxycontin. It's now more than forty states suing, they say Purdue help fuel the opioid epidemic by misleading doctors and patients. Here's marketplace's Nancy Marshall genzer attorneys general for West Virginia Iowa Kansas, Maryland. Wisconsin filed the suit yesterday, they say Purdue used false, claims and deceptive practices, but lawsuit says sales reps for the drug company claimed patients could take as much Oxycontin as they wanted without any problems. In his statement produce the lawsuits are part of an effort to quote try these cases, in the court of public opinion, rather than the Justice system. Nancy Marshall genzer. Live from Washington. Thank you.
"genzer" Discussed on KQED Radio
"The Federal Reserve has left interest rates alone and fed chair Drome Powell yesterday tamp down expectations for a rate cut. Marketplace's Nancy Marshall genzer joins me. Now from Washington you were there Nancy at Powell's briefing. The word of the day was transitory. It certainly was and Powell was talking about inflation the measure of inflation central Bank, use his state below the feds target which is two percent. Now, if the fed thought. Relation was going to be too low for too long it with lower interest rates making it cheaper to borrow and giving the economy boost. No some traders have been expecting an interest rate cut, but Powell threw cold water on that yesterday. When he said, he thinks the lower interest rates are temporary, or as he said transitory, he kicked off some of those transitory low prices things like payroll and apparel prices were very very low. There was a change in the methodology. In another one is, you know, air fares there many little things now pal also said fees for portfolio management and investment advice are also down temporarily. But what would the fed do if this low inflation is not transitory? Well, that's what I asked. How he told me the fed isn't planning on changing its interest rate target from two percent stable prices half of our mandate. And we've defined as two percent. So we would we'd be concerned, and we take it into account Powell is saying the fed would be concerned if Latian state under that two percent target and would take that into account in monetary policy. When asked how if that meant they would lower interest rates, he wouldn't comment. Okay. Marshall, MS Marshall genzer in Washington. Thank you stocks. The London.
"genzer" Discussed on WNYC 93.9 FM
"Researchers also find this affect with a higher earned income tax credit for low income people. Marketplace's Nancy Marshall genzer has been looking at the study suicide is the tenth leading cause of death in America. Nancy, tell me about the link, well, a group of communists, and public health specialists at Berkeley studied federal data on deaths, and they matched it to increases in the minimum wage or earned income tax credit. That's the tax credit that goes to low income workers after quenching those numbers, the Berkeley, researchers concluded that a ten percent increase in the minimum wage and earned income tax credit could prevent more than thousand suicides year. And why do higher wages are bigger tax credit? Reduce suicide there's been a lot of research on what some kinda miss call deaths of despair where less educated people get depressed because they don't have well paying jobs, and that can lead to suicide. I talked with one of the authors of the study, Berkeley, economists and a good I and she says they looked at other studies linking suicide to financial problems and reached this conclusion higher minimum wages, reduce the likelihood of financial stress and improves. This course, so we have this is in the paper that these policies can impact reduce number of suicides by improving mental health NC who was most affected by this mainly lush less educated. Low wage workers suicide rates were down more among men of color who are more likely to work min. Minimum wage jobs. It was the reverse for women with suicide rates down more for whites Marshall genzer in Washington. Thank you. Let's do the numbers..
Alphabet shares down on disappointing earnings
"Down three tenths percent. The NASDAQ is down nine tenths percent shares of Google's parent company, alphabet, eight and a half percent now. That's because yesterday the company released a disappointing earnings report for January through March. Marketplace's Nancy Marshall genzer has more alphabet reported revenues of about thirty six billion dollars for the first quarter three percent lower than analysts like Brent fill of Jeffries expected. Phil was on the earnings. Call one of many analysts asking questions, alphabet executives never answered this definitely troubling to investors that they're not really owning up to exactly what happened till has some theories, though, alphabet is spending money on new screeners to control objectionable content on YouTube. There are also new hires in. Google's cloud storage unit which is struggling to compete, Google's not number one. Or number two. Their
"genzer" Discussed on 90.3 KAZU
"With the caveat that the government of the United States is not and should not be run like a business. There is a parallel to corporate life that the Trump administration is highlighting. There is a well documented tendency on the president's part toward putting acting or temporary occupants into some of the most senior jobs in Washington less well-documented, though, the thriving temp culture at the top of the corporate ladder. Marketplace's Nancy Marshall genzer has that one at last count. There were acting heads at the defense department homeland security the small business administration and the office of management and budget. There may be more by the time. I finished this story. And that's just how President Trump likes it. As he told CBS is face the nation in February I like acting because I can move so quickly gives you more flexible flexibility kind of flexibility that's increasingly on display in the private sector to the board has appointed. Bob swan as into. Terim CEO and it happened at Intel last June and less money to hammer dropped at wells. At least the firm's general counsel c Allen Parker will become interim CEO and president. As crew comes score and herbalife have also brought on interim CEO's this year. This is hit the C suite Robert Jordan heads placement agency for interim exacts Jordan former interim himself started the company eleven years ago when he noticed to manned with soaring for people willing to parachute in at a moment's notice to stabilize company in crisis or fill in empty seat at the top. When there's no obvious successor from two thousand eight to roughly two thousand fourteen the use of the phrase interim on Lincoln rose tenfold that was by the way during the financial crisis, and especially tumultuous period for corporate America today Jordan's agency represents more than three hundred interim execs most are former chief executives. Or chief financial officers their their super temps Jordan says the typically earn what a permanent CEO makes in salary sometimes more. But no bonuses. No stock options debut, ten coaches interim executives she says, it's a tough job. You've got the title almost you've got the responsibility almost, but when it comes to long term strategy and planning and action in vision and mission. You don't have that nod ten says most interim CEO's are brought into a company in some sort of crisis to calm things down and give valuable workers reason to stick around if that interim CEO's doing a good job, he or she is is making people feel that they have gotten a gift somebody who is mentoring them in the extreme that takes a certain kind of somebody a person who can put their ego to the side and gain people's trust Howard broad. Brownstein has been executive worker for more than twenty five years. He says when he starts an interim job, I spend long hours at the company, and I hope people come up to me. And if they don't I go over to them and just say, how's it going show me what you're doing brownstein says trust is key. If you want to understand what's going on. He says he was brought in wants to help drugstore supplier, which was mysteriously losing money. No one wanted to talk about why? So he turned to another temp. She was a a deputy assistant. Temporary bookkeeper or something sitting in some sub basement office with no windows, and I asked her if she knows about this. She said, oh, I wondered when someone would ask me most interim exects are in and out of a company in a year. If you're looking for something more permanent. It looks great on a resume and may help level the playing field. Robert Jordan says twelve percent of the interim leaders he represents are women and one of them just landed the top job at a big state agency.
News in Brief 23 April 2019
"This is the news in brief from the United Nations nearly three weeks since fighting began in the Libyan capital Tripoli, the U N health agency want on Tuesday that large numbers of people are sheltering in medical clinics, while civilians continue to be killed or injured and refugees and migrants remain trapped in detention centers in an update to journalists spokesperson targes Revich from the World Health Organization or WHO said that two hundred sixty four people had died so far in clashes between the UN recognized government of national accord or GNA and the Libyan national army Ellena, including twenty one civilians echoing those fears above our Bella from UNHCR, the UN refugee agency appealed for humanitarian access to thousands of refugees and migrants believe trapped in state run detention centers, south of the capital. Our concern is for some six thousand who still remain in detention inside some of the detention locations. But also the. Major concern is for about three thousand six hundred refugees that are currently trapped in some of the detention center, which are very close where the fighting is taking place now in the past two weeks UNHCR has moved five hundred and forty one vulnerable refugees from the detention centers of are Casablanca Garcia IB Salim and genzer to a safe location in central Tripoli to the DRC now or Democratic Republic of the Congo where the World Health Organization or WTO says it has been forced to suspend some Ebola related activities following the killing of a N epidemiologist in Battambang last Friday, according to the U N health agency, the body of Dr Richard Valerie, Mizuko Kibben, a father of four will be flown back to Cameroon on Wednesday. In addition to Dr Masuku's death to other people were injured in the attack on temple university hospital, but they are recovering WHO spokesperson Tarik Jezora, which said it was not yet clear who was responsible. But that the. Incident had forced at WHO to suspend some activities in potential, although not elsewhere. But cannot really give you the answers on who did this and why they'd be number of incidents whether being directly targeting evola responders or security incidents on something else where we were caught in the middle. But the result is that we do not provide vital services. And then once we get back to community, then we see increasing number of cases because the transmission was ongoing while we were not their latest data from the authorities indicate that the Ebola outbreak has claimed more than eight hundred seventy lives since it was confirmed last August and finally to Sri Lanka where some forty five. Children are now believed to have been killed in the coordinated terrorist suicide bombings across the country on Easter Sunday. According to you and children's fund UNICEF today to more than three hundred and twenty people are believed to have died and around five hundred more have been injured in a statement condemning the outrage. Which targeted churches and hotels. The UN agency said that the young victims were a mixture of both Sri, Lankan and other nationalities. The youngest victim is believed to have been eighteen months old, UNICEF spokesperson Kristof. Billions and said twenty children have been admitted to hospital in Colombo with four of them in intensive care. As a result of the plastic in Columbine, many children have lost one or both parents and countless children have been witnessed to shocking and senseless violence, according to reports, Sri Lankan police have arrested dozens of suspects in connection with the bombings. Daniel Johnson UN news.
"genzer" Discussed on KQED Radio
"Genzer explains. Why not only is Uber losing money? It's revenue growth. Slowed to a crawl last quarter. Why it's hard for Uber to cut its drivers pay because it's competing for drivers with its rival lipped also Uber is sinking lots of money into research on driverless cars, it's like any other start-up. Company that go to the face of where they are losing money. Weena Agarwal is director of Georgetown university's center for financial markets and policy. There are other challenges. Uber says fifteen percent of its rideshare revenues came from trips to and from airports. Some airports are starting to charge. Uber for access and Agarwal says cities are starting to establish regulations for Uber drivers insuring compensated properly. The number of hours that they can drive is the victim to some extent. That's what's happened in New York City Hooper is diversifying in that could help the company says Uber eats took in a billion and a half dollars in revenue last year in Washington. I'm Nancy Marshall genzer for marketplace. Every five years. The US department of agriculture does a deep dive on the state of American farms, and according to the latest data the number of farms and ranches in the US is continuing to fall. Marketplace's Michael Lipkin has more. There were two million farms in two thousand seventeen about seventy thousand fewer than five years before farm. Incomes were down to as crop prices fell and labor costs increased Michael Novo is an economist at the American Farm Bureau federation. So in that kind of environment you're saying a lot of guys who are just almost throwing in the towel because getting very difficult. There were more mega commercial farms with more than two thousand acres, but also more super small farms of just a few acres. Those tend to be less rural grow specialty crops and are more likely to be a side business. According to Andrew Novakovic in agricultural economics. Professor at Cornell University doing what they enjoy. But you know, maybe on the side there, dentist, that's great. That's fine for them. But that's not really kind of going to empower. Our rural Nebraska or western Texas. What's becoming less common? Mid sized family farms in New York. I'm Michael Lipkin for marketplace. And let's do the numbers..
"genzer" Discussed on KQED Radio
"Learn more at kronoScom. Kronos, workforce innovation that works in New York. I'm revenge short in for David Brancaccio. President Trump has declared a state of disaster in Nebraska, which allows federal assistance to flow to that state has a recovers from devastating flooding floodwaters caused an estimated one point four billion dollars in damage to the state more than half a billion dollars worth of damage. What's infrastructure to the state's highways levies water treatment facilities. Marketplace's Erica embarrass reports that the floods effects will be with the state for a long time. Even if Nebraska gets every penny it needs. It will never look the same. According to Mike white with the state's emergency management agency. Because there are bridges that recall on there are dams that are gone. There are letters that are on the floodwaters have literally redrawn. On the map of the state, according to Jenny campaign within a Brassica department of transportation, the rivers have changed the course of where they flowed before in some case widened or just change directions altogether. When it comes to rebuilding infrastructure after a disaster. Like this the process isn't just expensive. It takes a long time Erwin bride liner with Columbia University center for emergency management has looked at the long term effects of disasters. He says even when the money is made available. There are decisions to be made like whether to build levees and what kind so even before we get to the actual building. There will be the political discussions and priority setting that'll be lots of wrangling about. Meanwhile, Nebraska officials are expecting more flooding. I'm Eric embarrassed for marketplace. The president is once again attacking Federal Reserve chair Jerome Powell on FOX business interview airing this morning. President Trump blamed Powell for the slowing US economy by by hiking interest rates four times last year. Marketplace's Nancy Marshall genzer has more. President Trump told FOX that US economic growth would have been a percentage point higher last year. If quote, we didn't have somebody that would raise interest rates, but former fed economist Bill English says actually last year's rate hikes didn't slow down the economy right away. I think the effects on growth and unemployment inflation would be cell or this year than last raised rates last year to prevent the economy from overheating and sparking inflation, but a slowing global economy might have done the same thing says UBS chief economist Seth carpenter. I think the factors outside of the control of the fed outside of their forecasting. From the beginning of the year really would have contributed to a slow down towards the end of the year, regardless of what they had chosen to do carpenter still agrees with most of last year's rate hikes, considering the data the fed had at the time. But he says the feds shouldn't have raised rates last December when it was clear the global economy was slowing down in Washington. I'm Nancy Marshall genzer for marketplace. Let's do the numbers..
"genzer" Discussed on Bloomberg Radio New York
"Nancy Marshall genzer with marketplace. Just a quick follow up on Brexit. You mentioned that you're making sure that US financial institutions are ready for whatever outcome. I'm wondering can you be a little more specific about that? And also, how are you preparing for any pressures that a hard? Brexit would put on the US dollar. Well. As I mentioned with the with the stress tests that we that the largest financial institutions, and those are the ones that tend to be active internationally that they undergo every year. We we put them through very large financial shocks with large losses and big changes in markets every year, and we very that every year. So that's a pretty good. You know, having done that for a number of years now, that's and having them be required to have adequate capital and liquidity even after all that happened. So that's that's a good thing to have done knowing that you're going into something, that's quite unknown. And which may prove stressful, and it may not prove stressful depending on what the outcome is. So I think all that has probably prepared our institutions well that said. Nothing like this has happened in in recent years. And so it's really hard to be confident. So we're we're very watchful about about what's going on. We did. So we don't you know, we the dollar is really the business of the treasury department. It's certainly a financial condition unto itself that that plays into our models, but we don't seek or model or attempt to affect the dollar dollar directly with our with our policies..
"genzer" Discussed on WNYC 93.9 FM
"The footsie in London is down less than ten percent s&p. Nasdaq futures are up about a tenth of a percent. The Dow futures down tenth of a percent, sixteen points ten year. Treasury yield is two point six two percent. Back in two thousand sixteen. Wells Fargo was fine for opening millions of accounts without consumers permission and the fallout from that scandal is not over CEO. Tim slum testified before the House Financial Services committee yesterday. Marketplace's Nancy Marshall genzer is in Washington. Nancy, what was the reaction from regulators? It wasn't good. The office of the comptroller of the currency or OCC issued a statement saying wells still didn't have good corporate governance also said it was quote disappointed in how the Bank has been trying to clean up its behavior was Fargo is also under pressure from the Federal Reserve, which has limited the bank's growth and just remind us again, how the band got into all this trouble in the first place. There were those millions of accounts wells opened without customers permission wells charged other customers for auto insurance, they didn't need. Well, CEO Sloan told the committee yesterday that wells is a better Bank than it was three years ago. Still the chair of the House Financial Services committee democrat, Maxine Waters said yesterday, maybe the banks should be downsized. And the Wall Street Journal is reporting the OCC is thinking about forcing out more, top Wells Fargo executives and might also charge wells and. Extra fee because of all the time it spending dealing with the Bank, right? Marketplace's Nancy Marshall genzer. Thank you. You're welcome..
"genzer" Discussed on KQED Radio
"The footsie in London is down less than ten percent espionage Dak up about a tenth for percent. The Dow future is down tenth of a percent, sixteen points ten year. Treasury yield is two point six two percent. Back in two thousand sixteen. Wells Fargo was fine for opening millions of accounts without consumers permission and the fallout from that scandal is not over CEO. Tim Sloan testified before the House Financial Services committee yesterday. Marketplace's Nancy Marshall genzer is in Washington. Nancy, what was the reaction from regulators? It wasn't good. The office of the comptroller of the currency or OCC issued a statement saying wells still didn't have good corporate governance also said it was quote disappointed in how the Bank has been trying to clean up its behavior. Wells Fargo is also Inder pressure from the Federal Reserve, which has limited the bank's growth and just remind us again have been got into all this trouble in the first place. There were those millions of accounts wells opened without customers permission wells charged other customers for auto insurance, they didn't need. Well, CEO Sloan told the committee yesterday that wells is a better Bank than it was three years ago. Still the chair of the House Financial Services committee democrat, Maxine Waters said yesterday, maybe the banks should be downsized. And the Wall Street Journal is reporting the OCC is thinking about forcing out more, top Wells Fargo executives and might also charge wells and. Extra fee because of all the time it's spending dealing with the Bank. All right. Marketplace's Nancy Marshall genzer. Thank you. You're welcome..
"genzer" Discussed on KCRW
"The Dow Jones industrial average is up one hundred and sixty three points that seven tenths of a percent. The S and P five hundred is up three tenths of a percent. The NASDAQ is up one tenth the ten year. Treasury yield is a two point six eight percent. The White House is trying to drive down the prices consumers pay at the pharmacy. One way to do that is to go after the middleman the people who negotiate prices between drug makers and insurance companies. Marketplace's Nancy Marshall genzer reports. The middlemen are called pharmacy benefit managers. They negotiate drug prices for Medicare and some Medicaid plans. They range ensure rebates for expensive drugs from the pharmaceutical companies, but these middlemen they may be pocketing the rebates themselves hunter Hammond is an analyst at height capital markets. The administration is concerned that those rebates aren't having affect to lower drug prices for the average consumer now there are statutes that prohibit kickbacks in federal programs. But right now, these middlemen are exempt from kickback laws, the department of health and human services or HHS is proposing a rule that we take away those protections making the rebates to intermediaries illegal the rule would allow rebates directly to consume. Boomers the hope here is that would lead to lower drug prices for patients on Medicare and Medicaid HHS says that should outweigh possible increases in premiums and out of pocket costs, Vivian. How is a health economist at Rice University and thinks this will save consumers money it's been an obfuscation game so far and anytime that happens one worries that.
"genzer" Discussed on Heather Dubrow's World
"So SERC here in Beverly Hills. They how's your dot com. Dr. Dear okay. Yeah. I think that's where we went to dancer genzer series office. Yeah. Very same off. So. Yeah. And then Gretchen used Dr, sir. Yeah. Yes. So she and Jay. I know Andrey's pregnant right now to Dr dear. So I knew I was in good hands Lloyd answering that office. Yeah. Per west. Per west. They were saying that you know, there's obviously a higher success rate freezing embryos than eggs, but CRC has such a high success rate with freezing eggs, and then fertilizing them down the road. And now with the technology and everything it's I don't have the option to freeze embryos right now. I have no interest in getting a sperm donor. I'm not going to have my Gabe us friend. Like, I just Mike. You know, what I'm going to do it? One more round. We only got nine mature eggs which sounds like a law, but is not my age levels were point two eight so basically like non existent. So the fact that we got nine from that low of Chile level was great do grade, the eggs because they grade embryo, yes. So we had twelve and then only nine were mature and healthy. Okay. But out of those nine richer healthy ones once their fertilized on the road. You don't know off to the genetic testing won all or none or good. So I would like better than a one in nine chance one day. So going to do it again in July. Hopefully, got at least nine more and then have a one in eighteen chance. Yeah. Yeah. Good. Because I I'm almost thirty four. Okay. Only what age do they recommend? If you're thinking about doing thirty these different thirty on my gosh. Yeah. I mean there are like one of my friends is thirty seven. She just got twenty two the first round. So I mean, everyone is some people have a lot of fall. Yeah. Some people don't and it's also people react to medication late you and my body reacted insanely well I've been on birth control for twenty years. And so that was probably a big reason why my numbers were so low, but all of the medication they thought I was an have to be on it for fifteen days. I was on it for eleven and I responded, so well, they're like you're ready for the trigger Sean retrieval, but you had to go off of your birth control, obviously. But then my estrogen levels were too high. They had put me on double birth control pills for about a week to ten days to get my estrogen down down there. Like you start injections tomorrow. I was like. Oh, your hormones like a lot of wack where you just like that's what I was worried about. And I asked trying but I think because I had been on birth control for so long. My body was used to the hormone. They did not affect me at all. I had like one or two like little freakout moments. That's no different than normal Sheena. What everyone reacts to those medications differently too? I remember. So when we first when I go to a fertility person. Yeah. I mean, you don't go right to IVF. They make you start small first thing they give you usually as climate and climate his this drug that stimulates the follicles, and the whole thing that's why a lot of people who just take climate ended up with twins because you'll draw an extra. To me climate was like liquid evil like swallow it. And as soon as it melted into my body. I was like the exorcist like the head-spinning and clo-. Wow. Evil mad, and it was so that drug. Yeah. Did I tried it two months? I was like I scare you for what was to come like going going to be like noodle raging. No. Because I know because I think I in the back of my head. I just knew you know, ma'am. So I'm so break like an aspirin, and I'm very sensitive. So I knew that it was just very potent. Yeah. And not good. I'm so proud of you being Gill active out doing that. And I think so many women out there. We used to talk about this as actresses that..
"genzer" Discussed on Marketplace Morning Report with David Brancaccio
"Congress had to be all that lane in New York. I'm Sabrina shore in for David Brancaccio. Congress is back in session today for the first time since the mid term elections. This is what's known as a lame duck session. The folks who lost are going to stick around until January when the new congress selected in the midterms takes over, but there is a lot on the agenda for this lame duck congress, for example, avoiding a government shutdown. Marketplace's Nancy Marshall genzer reports money for some government agencies runs out December seventh Molly Reynolds, a fellow at the Brookings Institution says congress and the White House need to reach an agreement on funding for President Trump's border wall to keep the government open Ronald spoke with me over Skype, and if the president threatens to veto a Bill that doesn't have what he wants for the wall, and is willing to follow through on that I think we could see shutout. It would only be a partial government shutdown though, congress has already passed about. Half the spending bills needed to keep the government running assuming the whole government stays open. There is other stuff on Congress's plate. Like the farm Bill it authorizes money for things like food stamps. Also called snap Sarah bender teaches political science at George Washington University. She says Republicans want stricter work requirements and eligibility rules for snap. I think Republicans insist on these tougher provisions Democrats will say no-ball and everything will be kicked new congress where they pretty much have to start the farm Bill negotiations all over again in Washington. I'm Nancy Marshall genzer for marketplace. Let's take a look at the numbers. The footsie in London is up three tenths of a percent. Dow as in p and NASDAQ futures are up in the five to eight tenths percent range with the Dow future up one hundred seventeen points the ten year. Treasury yield is at three point one seven percent to top Canadian economic officials just ended a four day trip to Beijing to discuss a possible free trade deal..
"genzer" Discussed on Marketplace All-in-One
"In new york i'm lizzie o leary in for kyra salt it is tuesday july seventeenth good to have you with us and we are going to start off the show by going to washington and the president's meeting at the white house which despite his remarks on russia was nominally about the tax overhaul if you were call the new tax law limits deductions of state and local taxes today four states sued the federal government over this saying those limits are unconstitutional new york connecticut maryland and new jersey marketplace's nancy marshall genzer has our story before the tax overhaul you could deduct the full cost of state and local taxes from your federal tax bill but now those deductions are capped at ten thousand dollars new york attorney general barbara underwood says that will cost new yorkers more than fourteen billion dollars this year we will not stand by and let congress pick the puckett's of new yorkers and it's not just new yorkers the cap on deductions pecs other high tax states and cities i'm gonna get wacked under this tax bill john tam is with the libertarian nonprofit freedomworks he lives in washington dc and has considered moving to virginia which has lower taxes he's not alone there's going to be some people leaving to avoid a big tax increase on those who live on the coasts a cap on deductions could also make it harder for high tax states to raise taxes steve rosenthal of the tax policy center says that'll hurt considering these states are facing angela abilities and infrastructure needs and the like states that are suing say the cap on deductions is unconstitutional going beyond the limits of federal power but joe bishop henchman head of the tax foundation says the federal government does have power to change the tax laws and to change them in this way and by the way the cap on deductions is temporary said to expire in twenty twenty six in washington nancy marshall genzer for marketplace we're going to take a closer look now at a story we mentioned yesterday trade deals that don't include the us today in tokyo the european union and japan signed a pact that will eliminate most of the tariffs between them the eu also has a new deal with canada with mexico plus it in talks with australia and new zealand so what's going on while the us on the sidelines marketplace's tracey samuelson explains trade deals are sort of like these international clubs number countries get benefits like lower tariffs they agree to common rules and regulations which can make it lots for companies to operate across borders so it's a big problem that the us isn't joining more trade clubs says susan aronson at george washington university us companies will be less competitive and they will be less able to give the best price for you to deals and jobs could be lost trade agreements can also influence where companies choose to invest says mary lovely at professor at syracuse so if you can think about being a company that has the option of putting a plant in you know a whole bunch of different countries where do you make your investment you would pick the country where you can export duty free so if this makes trade agreements see magical and perfect they're not there are a lot of legitimate questions about how to pursue trade deals edward alden with the council on foreign relations and the trump administration i think is rightly identified some of the problems with some of the trade deals the united states is done but it shouldn't be an all or nothing choice the united states should be doing better trade deals but alton says other countries are hesitant to start negotiations with the us given the trump administration's aggressive stance on trade so even just by standing still as other countries are moving forward the us is left behind i'm tracey samuelson for marketplace what a washing machines have to do with trade well if you've gotten.
"genzer" Discussed on Marketplace All-in-One
"There's no question there's going to be a lot of tit for tat but there's a strategic cost of antagonizing our allies as well says lauren bosma an analyst with the albright stonebridge group for example remember the whole transpacific partnership asian trade agreement we withdrew from i know from my conversations with people in administration that the removal of tpp has made it more difficult to seek concession or greater cooperation on certain issues there are a lot of issues on which the us could be working with its allies problems have steel over capacity the problems in china of voice technology transfer and the misappropriation of intellectual property jeff shot is a fellow at the peterson institute he's as managing north korea and iran also become more complicated in the current atmosphere of tension lastly says albright's bridge group's lauren bosma driving away allies drives away their business to as more economic power shifts to asia other countries he's also want to diversify their traded method linkages to to protect against any further review lynn when the us can get away with a lot because of its economic power but that position isn't guaranteed and if the us doesn't lead its allies other countries may fill that void in new york i'm revenge short for marketplace so let's back up for a minute here and do an economic origin story of the trump administration's steel tariffs showy the fact is and this isn't really in question that the global economy is producing too much steel overcapacity is the word you sometimes hear marketplace's nancy marshall genzer takes a look at why and what if anything is to be done about it why do we have a global steel surplus i can answer that with one word china when china started construction on its three gorges dam back in the nineteen nineties it needed a lot of steel michael montgomery is an economist with ihs market.
"genzer" Discussed on Marketplace All-in-One
"This marketplace podcast is brought to you by indeed are you hiring with indeed you can post a job in minutes set up screener questions than zero in on your shortlist of qualified candidates using an online dashboard get started today at indeed that com slash marketplace that's indeed dot com slash marketplace one way to get an argument going in gatherings of business leaders say two words china tariffs i'm david brancaccio in new york the us hits china with punitive tariffs china retaliates that's at the center of three days of hearings starting today the office of the us trade representative will hear sharply diverging views from american businesses about fifty billion dollars worth of china tariffs marketplace's nancy marshall genzer reports the tariffs would hit a wide range of chinese imports including parts made in china for us manufacturers like lucerne international a michigan auto parts supplier this certain ceo married buck seiger is scheduled to testify today her message there's unintended consequences of these tariffs lucerne imports hinges from china that are used in jeep wrangler 's buck seiger's says she can't find an american manufacturer to make them and the tariffs would cost her more than seven million dollars possibly forcing her business to close but it could cripple the entire supply chain basically sending waves all the way through the entire midwest books i is asking for an exemption from the tariffs simon lester of the cato institute says the only other thing that could stop them are successful negotiations but i don't think there's any hearings themselves will lead to the tariffs being abandoned this is more about the us china trade negotiation if the negotiations fail president trump will be free to levy the tariffs and if you weeks in washington i'm nancy marshall genzer for marketplace nothing stops the dynamo of europe from cranking out economic power or so he thought there's news today that german economic growth was cut in half the last quarter let's say good morning to the bbc's jenny hill in berlin getting owning t so what happened to economic growth over the last three months in germany well it wasn't quite what analysts were hoping for they fast quarter would seek growth point full percent instead.
"genzer" Discussed on Marketplace All-in-One
"Places nancy marshall genzer has that one the federal reserve is doing it tricky dance you might call it to step the fed is trying to keep inflation at two percent excluding volatile food and energy prices but is kind of a squishy target wins epa gza is chief economist at st field she says the fed would tolerate inflation up to say two and a half percent for the next six to twelve months she says that's because inflation from strong economic growth can be a good thing domestic inflation caused by an accelerating connie absolutely could be initially viewed as a very positive indicator but inflation that's not caused by growing economy that's not good says robin anderson senior economist at principal global investors she says bad inflation is than flation that goes up without seeing increases in people's income in wages that would be inflation caused by things like trade wars if prices tick up not because of a humming economy but because of tariffs or quotas that make products scarce and more expensive tate lacey's with the cato institute if we got into a trade war and that caused massive price distortions i i would classify that as something that would definitely be bad thing and we we'd have to watch to see how the central bank responded that bad inflation could cause the fed to get a bit more aggressive with bigger faster interest rate hikes good or bad tate says the fed won't let inflation get too far away from its two percent target in washington i'm nancy marshall genzer for marketplace so about those tariffs treasury secretary steven mnuchin and the gang that it'd be larry cudlow from the national economic council robert lighthizer the trade rip and peter navarro the director of the national trade council are on the ground in beijing today resting up before their big tariff meetings tomorrow and one of the things to keep in mind as these talks get going is that most american companies doing business in china are making some money so they might want different things out of the talks.
"genzer" Discussed on Marketplace All-in-One
"Or you remember last week when the economic press president company included got a bit spun up by those reports president trump wanted to get the united states back into the transpacific partnership right maybe not quite spun up but definitely not cynical enough about how mr trump feels about the multilateral trade deal the obama administration negotiated because sure as twitter only let you use two hundred and eighty characters last night he let us know he still doesn't like the tpp and that he thinks bilateral trade deals are more efficient and profitable those are his words efficient and profitable our word is really here's marketplace's nancy marshall genzer in trade agreements there is strength in numbers if countries band together and multilateral trade pact they can set high standards for membership countries that want in hampton jump through some hoops phil is with the chicago council on global affairs if you make enough club others wanna come on in and join and they're willing to undergo the initiation rituals we're not talking hey raising it's just here's what you have to do if you want to be one of us for example china had to comply with a lot of rules to join the world trade organization it had to accept limits on the tariffs or duties it could charge on imports matt gold is a former us trade negotiator now at fordham university china agree to a ceiling on every duty for every one of eight thousand types of products entering china gold says beijing also greet to allow foreign companies to offer services like banking and insurance in china all because it wanted to be one of the cool kids in the wto wendy cutler another former trade negotiator is now vice president at the asia society policy institute she says everybody in a multilateral agreement place by the same rules and that's an advantage for businesses that want to export and they know it certain that they can expect the same rule in country a as in country they isn't country's sake cutler says bilateral agreements between the us and just one other country.