35 Burst results for "J. Powell"
The Market Recovered on Monday, But Will It Stick?
"I want to turn to the market right now because the market did recover thankfully on Monday and trading, but I'm not convinced that it's going to stick. And I'm not convinced it's going to stick in part because of all these inflationary concerns. We've got going on. Look, the Federal Reserve, a day late, a dollar short typical. They could have done more. They should have done more. I wonder if Joe Jerome Powell was just too interested in keeping his job, right? Don't forget he was up for renewal. Maybe he wanted to just get, you know, another posting and figured if I'm out there upping rates and cutting back on quantitative easing money printing, maybe I won't get renewed. Maybe they'll give it to that gal. Leo brainard, who I think probably, you know, should have gotten it. I sure as heck hope that she would have been a lot smarter than Jerome Powell, because Jerome Powell, and he's not entirely responsible. I realize it's a board of governors, but he should have been leading more because all the evidence was there. We were going to have mass inflation, and yet he allowed it to go on, maybe because of this appointment, but he will go down in history now. I suspect, as the worst fed chief
John Zmirak and Eric Reflect on the Iraq Invasion
"There are certain things you can't make up. I mean, I want to frame this again for people who aren't paying attention because maybe they're not, they're not tracking, I was for the Iraq invasion back when. You were against it. And I remember talking to you and not understanding, I thought, aren't all conservatives for this isn't Saddam Hussein, a monster. And by the way, of course, he was a truly evil monster. There's no doubt about that. But it didn't occur to me at the time that there are reasons not to attack Saddam Hussein and so on and so forth. So I was for it. All these years later, thanks to not just John's mirac, but Donald Trump, we have had a reevaluation. And I think that people now realize not only was it wrong, but it was a disaster on many levels. And then we start understanding that all the people who got us into the many messages in which we are today also got us into the mess of the Iraq War. It's the neocons. It's not magga people. It's not people who want to put America first. It's globalists. It is really tremendously wicked. And so here you have George Bush, do the ultimate Freudian slips of all time. So wonderful. It's the sort of thing that Will Ferrell would make up on SNL or something. But no, no, this actually happened. It's so great. I mean, the underlying reality is grotesque. We are, we killed between 507 100,000 civilians in our invasion of Iraq, which was based on false intelligence and made up junk intelligence that the neocons were shoving past the FBI and putting straight into The White House. There were hundreds of experts saying there are no weapons of mass destruction. The UN inspector said there are no weapons of mass destruction. Nobody had any real evidence of weapons of mass distraction. Colin Powell gets goes in front of the UN with doctored photos that don't represent what he says they are. Condoleezza Rice says, we don't want the next smoking gun to be a mushroom cloud in Manhattan. They use our trauma over 9 11 to make us think that Saddam Hussein is building nukes and is going to smuggle them into America. They make us think he was involved in 9 11, which he wasn't. They make us think he was getting uranium, which he couldn't. I mean, it was just this for rago of lies. And I guess Eric, you're a nicer person, maybe because you grew up in Connecticut, you didn't think your own political leaders of your own party were lying to you to get back. No, of course I
Due Process Institute's Jason Pye and Doug Discuss the First Step Act
"Everybody, it's Doug Collins glad to have you back on the dog Collins podcast. You got a great friend coming back in today to be on the podcast Jason parr, due process institute. I've known him for many, many, many years that we go back from Georgia politics to D.C. politics everywhere in between. But I wanted to bring Jason back in to like a lot going on in the D.C. front and it's not just in legislation, but it's also in its election cycle. You probably will realize that watch list of this podcast Washington podcast went on. Election cycles tend to make politicians do sort of different things. And it's a lot of pressure going on. And I'm not criticizing that. I've been a part of and a lot of part of it. You have to sort of find what works is a guy who's worked with my campaigns consulted for me forever. Chip Lake says, he says elections can be about everything you want them to be. But at the end of the day, the voters have a say in what actually goes on. And that's true. But one of the areas that is so important that I wanted to bring Jason back in because I do a lot of work off podcast with this issue and that's criminal justice and criminal justice reform and Jason has been at the heart of that for a while. I work with the folks at justice action network. You've got a lot of groups out there that do this kind of work. But we're seeing some progress we're seeing some steps back and then what I want to talk to Jason about today is this idea that I saw a Republicans moving forward in what should be a really conservative issue combined with and they seem to be taking some steps back. So Jason Powell, welcome back to the dot com. Thanks for having me. It's good to see you as always. And that's a good time. I was going to say everything you're talking about in terms of criminal justice there are things that Republicans should be running on should be proudly proclaiming and your work on the first step act in Congress. You should wear as a badge of honor. And unfortunately, Republicans are going towards this tough on crime rhetoric that was so prevalent in the 1980s and 1990s. It's frustrating. Well, it is. And I think that's the part now. I wrote an op-ed a couple of weeks ago. We put it out and it was really hitting at that, you know, the whole idea
"j. powell" Discussed on Marketplace with Kai Ryssdal
"The spot will note on the way out today. If you know me, and if you know this show at all, then you know what's coming next. I need you to roll with me on this last one. We've got a little game we play on the show. It's called what is Jay Powell thinking in 5 words or less? And I ask our Friday afternoon panelists when we have a big monetary policy topic come up. I say, okay, what is J Paul thinking in 5 words or less? And I would not be able to forgive myself if sitting across from J Powell, I don't ask Jay Powell, what J Powell is thinking in 5 words or less. I should tell you I did this with Obama and he blew it and he went on for like a minute. So no pressure. 5 words or less. So I'm going to go with, I'm going to go with what I really am thinking is get inflation back under control. Oh man. Boom. J Paul, thanks for your time. I appreciate it. Thanks, Scott. Good to see you. All right, we gotta go. No moment of economic context today because I gotta tell you the whole show. Has been economic context today. We'll owe you one, I guess. A mirabeau, John Buckley, yvette Stein, John Gordon Ricard died at the Parker made a feature and Stephanie Sikh are the marketplace editing staff. I'm Kahn risal, we will see you tomorrow, everybody. This is 8 p.m.. Are you looking for ideas to make your life better right now without spending a lot of time energy or money? Listen to happier with Gretchen Rubin, a weekly podcast hosted by two sisters. I'm Gretchen Rubin, the number one bestselling author of the happiness project. And I'm Elizabeth Kraft, to Hollywood showrunner. Each week we discuss how we can become happier, healthier, more productive, and more creative with fresh insights and practical solutions such as follow the one minute rule, choose the one word theme for the year or design your summer. Listen to and follow happier everywhere you get your podcasts..
Senate confirms Powell for 2nd term as Fed fights inflation
"The the the the Senate Senate Senate Senate has has has has confirmed confirmed confirmed confirmed Jerome Jerome Jerome Jerome Powell Powell Powell Powell for for for for a a a a second second second second four four four four year year year year term term term term as as as as federal federal federal federal reserve reserve reserve reserve chair chair chair chair I'm I'm I'm I'm bad bad bad bad Thomas Thomas Thomas Thomas with with with with the the the the latest latest latest latest on on on on this this this this vote vote vote vote the the the the yeas yeas yeas yeas are are are are AT AT AT AT the the the the nays nays nays nays nineteen nineteen nineteen nineteen and and and and the the the the nomination nomination nomination nomination is is is is confirmed confirmed confirmed confirmed the the the the final final final final tally tally tally tally overwhelmingly overwhelmingly overwhelmingly overwhelmingly bipartisan bipartisan bipartisan bipartisan the the the the eighty eighty eighty eighty to to to to nineteen nineteen nineteen nineteen vote vote vote vote reflecting reflecting reflecting reflecting broad broad broad broad support support support support for for for for not not not not only only only only Jerome Jerome Jerome Jerome Powell Powell Powell Powell but but but but the the the the fence fence fence fence drive drive drive drive to to to to combat combat combat combat surging surging surging surging prices prices prices prices through through through through a a a a series series series series of of of of sharp sharp sharp sharp interest interest interest interest rate rate rate rate hikes hikes hikes hikes that that that that could could could could extend extend extend extend well well well well into into into into next next next next year year year year the the the the fed's fed's fed's fed's goal goal goal goal is is is is to to to to slow slow slow slow borrowing borrowing borrowing borrowing and and and and spending spending spending spending enough enough enough enough to to to to ease ease ease ease inflation inflation inflation inflation which which which which is is is is at at at at its its its its highest highest highest highest in in in in four four four four decades decades decades decades most most most most Republicans Republicans Republicans Republicans blame blame blame blame president president president president Biden's Biden's Biden's Biden's one one one one point point point point nine nine nine nine trillion trillion trillion trillion dollar dollar dollar dollar cope cope cope cope with with with with relief relief relief relief package package package package for for for for it it it it rather rather rather rather than than than than the the the the fed's fed's fed's fed's ultralow ultralow ultralow ultralow interest interest interest interest rates rates rates rates but but but but many many many many economists economists economists economists have have have have criticized criticized criticized criticized the the the the fed fed fed fed for for for for waiting waiting waiting waiting too too too too long long long long to to to to respond respond respond respond to to to to worsening worsening worsening worsening inflation inflation inflation inflation making making making making taming taming taming taming it it it it harder harder harder harder and and and and riskier riskier riskier riskier Ben Ben Ben Ben Thomas Thomas Thomas Thomas Washington Washington Washington Washington
Fed Raises Interest Rates by 0.50%, Largest Move Since 2000
"Okay, turning to this market right now. Absolutely slammed as investors have a chance to digest the news of the Federal Reserve raising rates. Now, in Wednesday's session, when they got the news, of course, of the half point rate hike, they figured, okay, you know, we can handle this. He did say, after all, Jerome Powell said, I'm not looking at a 75 basis point hike. I'm just looking at 50 basis points. For the foreseeable future and they rejoiced on that was a little bit of a relief rally. You know, everybody's like, okay, well, now we have some predictability. They did exactly what we thought they were going to do. And they're not going to raise at least not so far as we know by 75 basis points. So that's what happened on Wednesday. And then all of a sudden, investors had a chance to really think through everything that's going on, which is what I keep saying, and you can't continue to have such exceptional earnings for so many of these companies when the fed is pulling, pulling back, right? When you're not buying up mortgage backed securities, you're not buying treasuries to the extent that they were when you're not leaving rates so low money becomes more expensive and when money becomes more expensive, there's less of it to go around. It has more value, right? That's how you cut down on the inflation, but there's less of it out there. And when there's less of it to go around, it does increase in value, but you are going to see a pullback most likely in spending. That's if they get this
The Fed Raises Rates by Half a Percentage Point
"All right ladies and gentlemen the fed CNBC has raised rates by half of a percentage point That is the biggest hike in 20 years to fight inflation So rates are going up inflation is going up the value of money is going down The value of your salary other forms of income your pension going down the supply chain has been damaged by inflation and Biden and company You're starting to see more shortages on the shelves The war on fossil fuels and capitalism has had an effect because as we talked about the other evening fossil fuels are everywhere Not just in your vehicle not just heating your home or cooling your home Virtually all material Used to build your home packaging cardboard paper assembly lines tractors harvesting wheat on and on and on The Federal Reserve increased its benchmark interest rate by half a percentage point in line with market expectations The rate move is the largest since 2000 and is in response to burgeoning inflation pressures Federal chairman Jerome Powell the fed chair underlying the commitment to bringing inflation down but indicated that raising rates by 75 basis point at this time is not something the committee is actively considering They raised it by 50 This is a big deal
Economists See Increasing Possibility of a Recession
"Start first with this kind of schizophrenic market. I mean, I think that's the best way to describe it, right? This is like a form of schizophrenia here because the markets are suddenly higher despite a lot of the bearish signals that we've seen and both from tech companies and their earnings. You've seen bank reports, Deutsche Bank, recent one this week coming out warning of a major recession. We got the GDP report today, showing that the U.S. economy declined by 1.4%. And as I said, you get two quarters of that, and that is the definition of recession, two quarters of consecutive losses in growth, negative growth. But people seem encouraged and part of that reason may be maybe that they're thinking, well, the fed really can't do what it wants to do, right? I mean, the fed is not really going to be able to raise rates the way perhaps it had hoped in light of the negative numbers on GDP. It's also possible that they're looking at some of the consumer spending numbers and saying, well, you know, consumers seem to be holding up, okay? So maybe we'll get through this. I will say this, if Jerome Powell can pull this off, if we can avoid a recession, then he will go down as the greatest fed magician in history.
How Trump Saved Conservatism, the Constitution, and the Supreme Court
"Presidencies can be ultimately evaluated in my view as how did they serve the constitution. And you served the constitution by the people you put on the bench. President Nixon's greatest failure is Harry blackman. Lauren Berger was not very good. Lewis Powell was okay in rehnquist was great. Ike's greatest failure was a warrant and William Brennan. Reagan's greatest failure. Though I admire her character, is justice O'Connor and justice Kennedy. H W's greatest failure is David souter. We don't know yet whether W failed when he picked John Roberts over Mike lytic. I don't think he did. I think they're both, they're both friends of mine. And they both listen to the show and so they both should hear me say, I don't think it makes a lick a difference, which one of them was going to be chief justice in the long run, though they have different temperaments. But it is Trump's triumph compared to all those other conservatives to have put on Gorsuch Kavanaugh and ABC, and when someone replaces Matt continental and writes the right in 40 years, I think they're going to hold up as the most constitutionalist person. Donald Trump and having done the most for the constitution understood is the frame of silver around the apple of gold that is the declaration by virtue of the judges and especially by virtue of those three.
Powell reinforces expectations of sharp rate hike next month
"The the the the chair chair chair chair of of of of the the the the federal federal federal federal reserve reserve reserve reserve is is is is signaling signaling signaling signaling sharp sharp sharp sharp interest interest interest interest rate rate rate rate hikes hikes hikes hikes are are are are likely likely likely likely in in in in the the the the coming coming coming coming months months months months I'm I'm I'm I'm Ben Ben Ben Ben Thomas Thomas Thomas Thomas with with with with the the the the story story story story in in in in an an an an IMF IMF IMF IMF World World World World Bank Bank Bank Bank panel panel panel panel discussion discussion discussion discussion fed fed fed fed chair chair chair chair Jerome Jerome Jerome Jerome Powell Powell Powell Powell said said said said taming taming taming taming inflation inflation inflation inflation is is is is essential essential essential essential economists economists economists economists don't don't don't don't work work work work without without without without price price price price stability stability stability stability we we we we need need need need that that that that to to to to have have have have a a a a strong strong strong strong labor labor labor labor market market market market for for for for an an an an extended extended extended extended period period period period of of of of time time time time we we we we need need need need for for for for financial financial financial financial stability stability stability stability so so so so we we we we must must must must do do do do that that that that I'll I'll I'll I'll noted noted noted noted the the the the fed's fed's fed's fed's last last last last cycle cycle cycle cycle of of of of interest interest interest interest rate rate rate rate hikes hikes hikes hikes from from from from two two two two thousand thousand thousand thousand forty forty forty forty two two two two thousand thousand thousand thousand six six six six we're we're we're we're quarter quarter quarter quarter point point point point increases increases increases increases inflation inflation inflation inflation was was was was a a a a little little little little over over over over three three three three percent percent percent percent is is is is inflation inflation inflation inflation is is is is much much much much higher higher higher higher now now now now and and and and our our our our policy policy policy policy rate rate rate rate is is is is is is is is still still still still more more more more accommodative accommodative accommodative accommodative that that that that was was was was that that that that and and and and with with with with inflation inflation inflation inflation at at at at its its its its highest highest highest highest in in in in more more more more than than than than forty forty forty forty years years years years it it it it is is is is appropriate appropriate appropriate appropriate in in in in my my my my view view view view of of of of to to to to be be be be moving moving moving moving a a a a little little little little more more more more quickly quickly quickly quickly and and and and I I I I I I I I also also also also I I I I also also also also think think think think there's there's there's there's something something something something in in in in the the the the idea idea idea idea of of of of front front front front end end end end loading loading loading loading whatever whatever whatever whatever accommodation accommodation accommodation accommodation one one one one thinks thinks thinks thinks is is is is appropriate appropriate appropriate appropriate the the the the fed's fed's fed's fed's next next next next policy policy policy policy meeting meeting meeting meeting comes comes comes comes in in in in early early early early may may may may analysts analysts analysts analysts are are are are expecting expecting expecting expecting a a a a half half half half point point point point increase increase increase increase in in in in the the the the federal federal federal federal funds funds funds funds rate rate rate rate Ben Ben Ben Ben Thomas Thomas Thomas Thomas Washington Washington Washington Washington
Why Are American Teens So Sad?
"This segment and the one following is not going to be the most uplifting segment that we ever do here on the Charlie Kirk show. But arguably one of the most important. This is a segment that you're not going to want to hear and you might not think it's real, but I could tell you from my experience with young people, it's absolutely real. And it's a story that actually starts in the publication for lorene Powell jobs, the Atlantic, quote, why American teens are so sad. Four forces are propelling the rise of rates of depression amongst young people. Now before you kind of just roll your eyes and say, oh, whatever, toughen it up. This is a huge problem with our nation's young people. I know at least two young people in my general circle, periphery, I did not know them personally, that committed suicide in the last week, to serious issue. Young people are, by definition, now the most alcohol addicted drug addicted, depressed, sad, suicidal, anxious, medicated generation and history. Now there's many reasons as to why this is the case. One of the reasons, of course, would be our imprudent response to the Chinese coronavirus, locking down our entire society. It was not the pandemic that did it. It was our reaction to the pandemic. Now, if you're listening to this right now and you're a parent or a grandparent, an ant or an uncle, I hope you listen to these words very carefully, because if you have a young person in your life, they might not be telling the truth about how sad they actually are. This generation will be the most suicidal generation of history when the numbers come out. In fact, the numbers already show it, we don't know how this year is going to shake out. The Atlantic dot com writes, quote, the United States is experiencing an extreme teenage mental health crisis. From 2009 to 2021, the share of American high school students who say they quote feel persistent feelings of sadness or hopelessness, rose from 26% to 44%,
Powell returns, Clippers beat Suns for 3rd straight win
"The the the the LA LA LA LA clippers clippers clippers clippers held held held held off off off off the the the the NBA's NBA's NBA's NBA's top top top top team team team team the the the the Phoenix Phoenix Phoenix Phoenix Suns Suns Suns Suns one one one one thirteen thirteen thirteen thirteen to to to to one one one one oh oh oh oh nine nine nine nine LA LA LA LA went went went went up up up up by by by by thirty thirty thirty thirty nine nine nine nine in in in in the the the the third third third third quarter quarter quarter quarter their their their their sons sons sons sons got got got got within within within within four four four four in in in in the the the the closing closing closing closing seconds seconds seconds seconds before before before before running running running running out out out out of of of of time time time time clips clips clips clips coach coach coach coach Tyronn Tyronn Tyronn Tyronn Lue Lue Lue Lue says says says says his his his his team team team team got got got got complacent complacent complacent complacent can can can can never never never never relax relax relax relax in in in in the the the the NBA NBA NBA NBA you you you you know know know know he's he's he's he's the the the the player player player player to to to to get get get get a a a a closer closer closer closer to to to to the the the the and and and and so so so so you you you you let let let let your your your your guard guard guard guard down down down down things things things things like like like like this this this this happen happen happen happen so so so so it's it's it's it's a a a a Lennix Lennix Lennix Lennix learn learn learn learn experience experience experience experience on on on on that that that that standpoint standpoint standpoint standpoint L. L. L. L. A. A. A. A. already already already already you're you're you're you're sure sure sure sure to to to to spot spot spot spot in in in in the the the the play play play play in in in in tournament tournament tournament tournament was was was was led led led led by by by by Norman Norman Norman Norman Powell Powell Powell Powell with with with with twenty twenty twenty twenty four four four four points points points points in in in in a a a a game game game game with with with with little little little little on on on on the the the the line line line line the the the the sun's sun's sun's sun's rescued rescued rescued rescued for for for for starters starters starters starters they they they they got got got got a a a a team team team team high high high high twenty twenty twenty twenty points points points points from from from from Ishq Ishq Ishq Ishq Wainwright Wainwright Wainwright Wainwright mark mark mark mark Myers Myers Myers Myers Los Los Los Los Angeles Angeles Angeles Angeles
Doncic leads Mavericks to 118-112 victory over Bucks
"Look look at at our our church church the the Mavericks Mavericks were were one one eighteen eighteen one one twelve twelve winners winners over over the the box box dont dont you you scored scored thirty thirty two two points points and and matched matched a a season season high high with with fifteen fifteen assists assists he he also also had had eight eight rebounds rebounds and and scored scored or or assisted assisted in in the the Mavericks Mavericks first first eleven eleven points points of of the the fourth fourth quarter quarter Dwight Dwight Powell Powell had had twenty twenty two two points points and and thirteen thirteen rebounds rebounds for for Dallas Dallas which which is is very very much much in in line line for for home home court court advantage advantage in in the the Western Western Conference Conference quarterfinals quarterfinals you you got got to to take take the the Cooper Cooper led led the the bucs bucs with with twenty twenty eight eight points points and and ten ten assists assists through through holiday holiday had had twenty twenty points points for for Milwaukee Milwaukee which which allowed allowed Miami Miami to to move move closer closer to to wrapping wrapping up up the the top top seed seed in in the the east east I'm I'm Dave Dave very very
Coach K makes 13th Final Four, Duke beats Arkansas 78-69
"Second seeded Duke advanced to its seventeenth final four after convincing seventy eight sixty nine win over number four seed Arkansas in his final season Duke coach Mike Krzyzewski has the most final four appearances with thirteen surpassing the legendary John wooden the regional championship game at it really is the biggest game a college coach has to coach because it gets you into the promised land AJ Griffin with a team high eighteen points Powell bank kero added sixteen Arkansas got within five points early in the second half but Duke used at ten run to put the game out of reach in the lost Jaylen Williams with a game high nineteen points Riley arm San Francisco
"j. powell" Discussed on Bloomberg Radio New York
"What this path they have laid out clearly acknowledges that because here's the dot plots the new dots the new interest rate forecast for this year and two more We already had one 25 basis point hike 6 more this year That's a total of 7 taking the key rate to 1.9% but 7 of 16 if you look at the dots closely see the rate getting above 2% this year So they clearly see some 50 basis point rate hikes man That's in fact Jim bullard dissented just on that And you talk about 75 basis point hikes in the next two minutes That's easy You just need one 50 and one 25 and J Powell opened the door to this more or less at the press conference today Let's listen Every meeting is alive meeting And we're going to be looking at evolving conditions and if we do conclude that it would be appropriate to move more quickly to remove accommodation then we'll do so I can't be perfectly specific about it but that's certainly a possibility as we go through the year Here's what struck a lot of economists and people who saw what the fed did and watched the press conference Okay they updated the economic forecast right So here's what they're looking at They're going to see inflation at 4.3% this year and get it done at 2.7 next year But look at that Okay GDP growth they say oh they call me a slow little but it'll still be above trend But look at unemployment it barely budges and economists say look how are they going to get inflation down Magic Because to get inflation down don't you have to slow demand Don't you have to slow things down more than this According to this no they won't have to J pile said labor markets are tight There's a lot of people who are on the sidelines There's more job openings than there are people who are without jobs He's got that optimistic view and apparently the consensus on the fed does too but that's something people are already questioning How do you get it down if you don't slow it And that's the risk of recession Yeah that's the hard landing soft landing on what slowed down are they prepared to tolerate narrative isn't it So worried about recession And he talks about the strength of this economy I think the equity poison girls leaned into that but the bonds nah they're not on the trade Can I just make a lot of equity investors mad at me Well the bond market is always smarter than the equity market The bond guys are so skeptical The stock guys are so optimistic and they were so ready I think you talk about fear trained agreed They were ready for someone to tell them Don't worry about it We can find inflation We won't cause a recession But look at this This is something the more economist.
Trish Talks Oil and Consumer Prices
"I want to point out in today's market, you are seeing oil prices down slightly in the high 90s per barrel of oil. Don't forget it had gone up to a 130 in change in overnight trading just a week or two ago. The reason now you're seeing it decline is because China has come out with the mandatory shutdown because it's going to increase in cases of COVID. So I do suspect that the decline in energy prices is very temporary. You saw today's number on inflation we're looking at a 10% increase in consumer prices forgive me. Wholesale prices. It will eventually catch up to consumer prices which have already increased 7.9%. Since last year, but the latest read now, as I predicted, I predicted we'd see 10% on producer prices. Here we are. Sure enough, it's here right now this month a 10% increase year over year in the prices that producers pay for good. So these are the wholesale prices, right? Well, what happens? A producer pays that much more for goods and that producer has to pass that on to consumers, otherwise it eats into profitability. And right now we've shown willingness for the consumer to absorb that. And so they do pay the higher prices, which leads to higher consumer prices, and this thing is off and running. Now, the fed is meeting today, the first of its two day meeting, we'll find out tomorrow whether or not it followed through on its promise to increase interest rates by 25 basis points, the expectation is that it will, and that will help on the margin, but look, we've got a serious inflation problem, and we had a series inflation problem long before this Russia thing. It's disingenuous, frankly. For the administration to sit there and tell us, well, it's all Putin's fault now. It will be Putin's fault. But what we've got thus far, this 10% increase in wholesale prices, the 7.9% increase in consumer prices, that's actually that is actually full on Joe Biden and Jerome Powell's
'Rediscovering America' Author Scott Powell on Christopher Columbus
"Folks, the book is rediscovering America, Scott Powell, the author and my guest, you are just talking about Columbus day that has suddenly become controversial. So let's talk about Columbus. Columbus was a he was basically a working class man, a fairly simple man, self educated, and he had a passion for the sea and seafaring. So that was his that was his reason for a living was to be at sea. And he shipped out on various with various ships, and he really had an interest in learning about navigation. In any case, when he ran up against the Muslims in the eastern Mediterranean at that time, and they cut off the trade routes from Europe to the orient, he believed that there would be a trade route going in a westerly direction that the world was round, and so that was planted in his mind on a ship on one of the one of the ships he shipped out on out of out of Spain, the encountered a battalion of ships that attacked him because there were, they were at war with each other, the Flemish World War, and so he actually his boat went down, he ends up in Portugal, Portugal was the center of navigation of the world. That's where, you know, the most advanced maritime sciences existed. He learned a lot, and then he had this passion. He had a vision to pursue that he was going to find that trade route. He was a passionate Christian, so he also viewed the opportunity to take the message of Salvation to people in another part of the world that had never heard that good news.
Scott Powell's 'Rediscovering America' Examines 11 National Holidays
"When you write about the national holidays, right? What is the most obscure one? Because we can all talk about we talk about Christmas 4th of July and I want to. But what how granular do you get? Well, there are 11 national holidays where actually people, if they work for government, they have the day off. I added one more holiday, a national observance holiday called constitution day, and that's on September 17th, which is the day in which the constitution was signed by all the participants or by all but a very few. As far as obscurity goes, people mix up Veterans Day and Memorial Day. They're distinctly different. I think Labor Day is kind of an odd holiday. No one really knows what it means except that it comes at the end of the summer and it used to be a time of barbecues and the last beach hurrah before going back to school and work my favorite holidays are Christmas and Easter. And you can understand why. I mean, they are actually the foundational holidays of our country. We might think that it's Thanksgiving. Well, Columbus discovered the country Columbus day and Thanksgiving. But in fact, it is really the biblical background and the Protestant reformation that came that really that really gave birth to the modern age, freedom and democracy where people have rights, God given unalienable rights where people have equal value. They're all equal before God, a priesthood of all believers. These were unknown concepts.
Why Scott Powell Was Inspired to Write 'Rediscovering America'
"First of all, tell us how did you get the idea to write this book called and I love the title rediscovering America how the national holidays tell an amazing story about who we are. Where did you get the idea? Well, Eric, you might know that I'm a trained economist and I was hard by the Hoover institution and now discovering to write primarily on public policy issues as they pertain to economics. So I published widely around the country talking to editors several of them asked me, did I have any, would I be willing to write an article on the upcoming holiday? And I thought, yeah, I can do that. So when I dove into that, I found these fascinating stories behind the holidays. So I kept going. So every year I wrote maybe on a couple of the holidays and I could get them published widely, much more so than my economics pieces because they were so interesting. And after about four years, I had written on all the holidays. And then I had readers that told me you need to write the book, Scott, because I learned so much more about America than I ever learned in any of my history classes.
Trish Addresses Inflation and Gas Prices
"Like to just quickly get back to this inflation issue because I heard some policy ideals that came out of Joe Biden last night, but none of them fortunately, I hope. Do not have a chance of becoming a reality. You look at what's going on right now in the stock market. And of course, people are trying to digest all of this news. It's coming to us out of Europe, you've got Powell that spoke the Humphrey Hawkins testimony. They're on Capitol Hill and Paul's indicating you know what we're going forward with this. We're going to raise rates this month. I think you've got to under the circumstances with all this massive inflation. There's a chance that maybe he doesn't follow through with as big a rate cut or as many rate hike. Hike, I should say hike. Paul and Joe Biden there were as many rate hikes as anticipated, but we'll see. We'll see how this all shakes out. I do think it's time. I mean, it was time a year ago for Paolo to do something. So this to me is a positive positive element in terms of gas prices though and what their effect on the economy will be. They're going to be significant. I actually went to fill up my gas pump. I drive one of those really offensive gas guzzling SUVs. You're not supposed to have, but I've got one. I've got one, and I filled up the tank and it was over $4 a gallon, and I noticed that. I was talking to the guy and we were chatting about it and he's like, yeah, and this is despite the SPR, but you know, the SBR. That's gonna last you no time at all. I'm sorry, you can release all those strategic reserves, which by the way, Donald Trump bought a really low price. Joe Biden and company were accusing him of just trying to prop up the energy industry at the time. But it was pretty smart to buy it right when it was $10 a gallon, as opposed to a $110 a gallon, which is where we're heading. In fact, I would argue it would probably be one 30 a gallon, possibly one 50 a gown in the relative near future, which could translate into, I don't know, $9, a gallon that the gas pump, it's not inconceivable to see gas prices more than double from where they are right now.
"j. powell" Discussed on CNN Political Briefing
"Here's what you need to know in politics for Monday, November 22nd. Stability over shake up. Joe Biden nominates Jerome Powell for another term as chair of the Federal Reserve. It was the last big decision sitting on Joe Biden's desk in the Oval Office before the Thanksgiving break and the president made it clear today that he is intending to renominate Jay Powell, the head of the Federal Reserve to serve for another four years. Now this comes as the president also made clear, he is going to nominate fed governor Lyle brainard to serve as vice chair. Now she was a top contender basically the only other contender other than renominating Powell for the top job at the fed. And it's an important insight into Joe Biden's thinking about the economy right now, because J Powell, who Donald Trump nominated as chair of the Federal Reserve back in 2018, is a Republican, and what you see in Biden's thinking here is twofold. One, it's an endorsement, obviously of the job Powell's been doing. Steering the country through a massive economic downturn due to the pandemic. So it is a boost of confidence from Biden in Powell's leadership at the fed, but it is also telling that Biden thinks Powell is the right person to continue to steer the economy forward because the economic challenges that the country's facing now are actually quite different from what they were when the pandemic hit. I mean, Powell was sort of dovish in his approach and made sure that interest rates remained low. That is a very different economic scenario than the issue of inflation that the country is facing now, that requires perhaps a different approach from the fed chair and so Biden renominating him indicates that he thinks Powell is not just a one trick pony, but that he is up for varying challenges in the economy. When Biden made his announcement today at The White House, he stressed the notion of how important it is for a president's pick of fed chair to get broad bipartisan support in the Senate. And that is why he said picking a Republican. He believes is the right move. At this moment, both of both enormous potential and enormous uncertainty for our economy, we need stability and independence at the Federal Reserve. Jay is proven the independence that I value in the fed chair. I believe having fed leadership with a broad bipartisan support is important. Especially now in such a politically divided nation. For Powell's part, when he spoke today at the event of The White House, he made clear to the American people he understands the pain that inflation causes in daily life. The unprecedented reopening of the economy, along with the continuing effects of the pandemic led to supply and demand imbalances, bottlenecks and a burst of inflation. We know that high inflation takes a toll on families, especially those less able to meet the higher costs of essentials, like food, housing and transportation. It will use our tools both to support the economy and a strong labor market and to prevent higher inflation from becoming entrenched. And of course, politics is involved in everything and there are two political notes here about Biden's renomination of Powell that are worth including here. One, Biden's also drawing a sharp contrast with Trump because Trump did not renominate Janet Yellen, who was appointed by Obama. And president Trump sort of discontinued that tradition of looking for a bipartisan kind of solution to the fed chair. In fact, Janet Yellen, who now serves as treasury secretary, was Powell's immediate predecessor, she weighed in on Biden's decision on CNBC earlier today. I'm very pleased with this choice. And they are consummate professionals, support and independent fed are completely committed to the feds through a mandate of maximum employment and price stability and I believe they'll have broad support among Congress in the public. And the other political note worth mentioning here is Biden's willingness to pick a fight with his more liberal base. This is a pick that is not at all popular in sort of the left wing of the Democratic Party, Elizabeth Warren immediately came out with a statement in opposition to Powell, she does support brainerd as the vice chair and said she will vote to confirm her into that role as a part of Powell's team, but will oppose Powell's renomination. We also know that Sheldon whitehouse and Jeff merkley two other democratic senators already on the record saying they're going to vote against Powell, but here's the key. He's getting accolades and support from some key Democrats, sherrod Brown, Democrat of Ohio, chair of the banking committee on board and says he will vote to confirm. So it is not a widespread sentiment in the Democratic Party to oppose Powell, but it is a popular position to be against him in sort of the Elizabeth Warren, AOC wing of the party, and Joe Biden was willing to fight that fight by announcing his decision to renominate him today. There is no issue that is going to be more significant to Democrats chances at the ballot box next November and in 2024 when Joe Biden's up for reelection, then the economic recovery post COVID. And so this was an enormous decision on the president's part because it puts somebody in the driver's seat here on that very issue, and now Joe Biden's got a hope. It was the right call. That's it for today's political briefing..
"j. powell" Discussed on The My Future Business™ Show
"And i've done I've moved from there into some identity management. i had a lot of experience. Working with azure I actually owned in my and my previous life. Prior to powell i own the full device strategy and Collaboration space for consulting firm. So had a lot of experience there and working with the People like schools Consulting and helping there as well as working with biotechs in san francisco. Where i spent some of my time in and really had mike. Ruth happen at anything. You know as a solutions engineer. I think it's been great. Because i found that i like challenges especially with a technical feel and look to them. But really just trying to take this huge amount of data and information and technology at everybody's fingertips and figure out how to simplify it. And bring it on where it's seamless and you don't have to have a have to have a certification to be able to destroying your computer on and launch an application and use it. Yeah that's the way it goes. I know that somebody in your field would do with problems and management of risk. Tell us little bit about that. Saw it and while you enjoy that sort of a challenge. Yeah i think. I thought it was coming up. I had a lot of experience in wearing multiple hats and doing a lot of product management. It's know really working as a business analyst. So it's really good to know where you know to see a problem but a lot of times you have to take a step back and listen. We see what other things are driving. And i call them. Threats always more threat than her initially put for yet and you can really find a way to to pull those and see how you can help people not just fix an issue but transformed the way they were and i think if you come with that mentality and we like to call it the beginners mindset. You can really come to understand what people are trying to get to and not. Just look at you know. How can i fix this one thing. But how can we really help you in your next one. Three five years transform create scalable solutions..
"j. powell" Discussed on How I Built This
"Hey everyone and welcome to how. I built this resilience edition from npr on. These episodes were hearing from entrepreneurs and other business leaders about how they've been building resilience into their businesses during this very challenging time today. We're going to hear. From emily powell. She's the owner and president of powell's books powell's is based in portland oregon and it's one of the largest family owned independent booksellers in the world. Emily is the third generation owner of powell's books and she knew early on that she wanted to take over the business. Her grandfather's started in nineteen seventy. My grandfather used to drive really beat up chevy truck and i thought it was the coolest thing to go riding his pickup truck. It was the first company car had the powell's logo on the side. And i would say you know the age of three or five. When i grow up. I wanna drive the bookie truck. That was my grand aspiration to drive his pickup truck. So yeah i had a pretty good sense from an early age. When you grow up in a place it's magical powell's was big early and fast. I don't know anyone who would have turned that down. I think is an opportunity. It's pretty pretty wonderful. I also read something that you said that you don't think that powell's would have survived or thrived anywhere else except for portland. Why what do you think so. Well a couple of reasons. You know <hes>. My father was always really involved in the city community in our politics and the streetcar that runs through downtown portland. He was a port commissioner. So we talked a lot around the dinner table about what makes a city work. What makes the city and vibrant and portland's on a lot of things right since the seventies they've been very deliberate about how they plan the city and how it might look in your two thousand or in this case twenty twenty. There aren't a lot of cities that have the same makeup that allow for that kind of vibrant downtown pedestrian environment. So we say to be successful. We need nine. Am to nine pm and pedestrian traffic. Not a lot of cities have that they have portions of that but we have it in spades and then we have our weird. You know at this point. Everyone knows portland is is a little weird. It's a little different. We have a very vibrant arts and literary culture here which i think we've helped participate and contribute to grow. I think this is a city that believes it has to support itself in order to keep going and that's allowed us to survive. I think other cities may be missed that point casually so again for anyone who's been portland. You probably have gone to powell's because it's also tourist attraction because it's such a huge well known landmark in the city and i imagine that you know. Starting in march february march april when started to become clear that that this covert thing was real. We can't walk me through what what was going on at at the store. And what you you start to notice. Well it's easy to forget at this point. In the year that oregon actually had one of the first cases in the united states we were tracking the virus pretty early. I remember being in february. And maybe we want to stock up on soup or something you know thinking about it. We were watching it. We were talking about it. And our management team and friday. The thirteenth was when things started to serve grow in the portland area. We were hearing from customers. We were hearing from employees but more importantly we were thinking. Oh would this isn't going in a good direction. So on sunday of that weekend we had been talking as it management team on the phone most of the weekend and the county libraries closed and we are so large and as such a safe interior space in march in oregon that a lot of people look for places for shelter and so the folks who might have spent their afternoons in the library came to powell's which is great except that now we had a lot more people in the store would have and sunday eleven. Am we made the decision. Maybe it was even earlier. We have to close right now. This is starting to feel unsafe no matter what. We cannot participate and spreading this virus in our community. The governor hadn't moved yet to close a stay on. I think a lot of folks thought we were responding to a but no we felt really the compulsion that we need to do what we have to to protect portland and so we shut down in the middle of the day moved everyone out of the store and then unfortunately laid off most of our employees within twenty four hours. Because if people aren't buying books we don't have the ability to keep operating so you shut the store down entirely. I mean because this is totally unprecedented. You probably didn't have a plan for what to do. i mean the answer is just. Let's just shut down but it wasn't like let's shut down a move online right. I mean you didn't. We have ecommerce business. Which is successful. But in the moment we fully expected that the governor was going to require all non essential businesses to shut down and for us that meant our warehouse that operates powells dot com so we laid off <unk>. Quite of number of employees in large part. Because we expected we were going to zero. We expected we were turning all the lights off. We would not be shipping anything out. But i was in touch with her team and they said no. We want you to keep you know your internet business going. We want as many people employed as we possibly can have on health insurance during this time. And i said okay. We can do that so we pivoted as quickly as we could to bring some people back not knowing if we'd have any business to pay them but we had a pretty big spike in orders within the first couple weeks of the shutdown in march and that allowed us to kind of plow through the first month or two before we could get
"j. powell" Discussed on How I Built This
"We're going to hear. From emily powell. She's the owner and president of powell's books powell's is based in portland oregon and it's one of the largest family owned independent booksellers in the world. Emily is the third generation owner of powell's books and she knew early on that she wanted to take over the business. Her grandfather's started in nineteen seventy. My grandfather used to drive really beat up chevy truck and i thought it was the coolest thing to go riding his pickup truck. It was the first company car had the powell's logo on the side. And i would say you know the age of three or five. When i grow up. I wanna drive the bookie truck. That was my grand aspiration to drive his pickup truck. So yeah i had a pretty good sense from an early age. When you grow up in a place it's magical powell's was big early and fast. I don't know anyone who would have turned that down. I think is an opportunity. It's pretty pretty wonderful. I also read something that you said that you don't think that powell's would have survived or thrived anywhere else except for portland. Why what do you think so. Well a couple of reasons. You know <hes>. My father was always really involved in the city community in our politics and the streetcar that runs through downtown portland. He was a port commissioner. So we talked a lot around the dinner table about what makes a city work. What makes the city and vibrant and portland's on a lot of things right since the seventies they've been very deliberate about how they plan the city and how it might look in your two thousand or in this case twenty twenty. There aren't a lot of cities that have the same makeup that allow for that kind of vibrant downtown pedestrian environment. So we say to be successful. We need nine. Am to nine pm and pedestrian traffic. Not a lot of cities have that they have portions of that but we have it in spades and then we have our weird. You know at this point. Everyone knows portland is is a little weird. It's a little different. We have a very vibrant arts and literary culture here which i think we've helped participate and contribute to grow. I think this is a city that believes it has to support itself in order to keep going and that's allowed us to survive. I think other cities may be missed that point casually
"j. powell" Discussed on Biz Talk Radio
"We're giving them your money and they are leveraging it and then **** everybody else and don't worry we'll save them another words it's our backwards brought to you by our central bank that people keep saying they're heroes they are the economic devils and you may or may not believe me but that's what they are and I will not use that word on TV I'll use it on my radio show all use of the terms on on TV but their economic devils they have economics six six six is on their head because they think they're gods but the steps they J. Powell is buying up junk bonds because they got hit hard what what why would they buy junk bonds why would they leave people who took a big risk because it's their body gotta take care of our bodies because they all leverage themselves and because they leverage themselves they're gonna hurt the market so we've gotta take care of the markets wash rinse repeat and the problem is no but there are people that are pissed off but not enough people the only way you change something like this is a couple of million of us go one on to the capitol one screen we.
"j. powell" Discussed on Biz Talk Radio
"One well all right so again letting you know this some sore thumb sticking out and again that doesn't mean they flop tomorrow or keep going but it's incumbent upon us for you just to let you know what's the canal and we're not telling you to buy sell shorter cover that's your job to decide whether it's for you and what do you want to do it and all we ask if you do anything well whether we talk about don't make sure you have stops in place or else specially in these markets they are insane now as far as today with the Dow being down five twenty I who knows how we even finish the day I don't really see any news to be down five twenty today it looks like some of the news is pretty decent but member we popped up on Thursday the financials because a pal while JP Morgan's back down for the quarter today getting given back about half the gain which button takes me into my whining complaining today J. Powell I want you know listen carefully house this man is and how sick this whole thing is remember what we have done on the show for ages complaining about the central bank's distorting the markets and pricing yield and **** what we call price discovery the market's supposed to be about an investor in the trader.
"j. powell" Discussed on Biz Talk Radio
"More than a trillion you mean more than four truck what what does all that mean unlimited amounts well in case you don't know the today show J. Powell did an interview on the today show this morning he never does that now I also want to say I think winning Savannah Guthrie she didn't quote me by name she quoted all my quotes in the questions to Jay Powell she should have used my name but since I'm with fox and she's N. B. C. she just stole my phrases and asking the questions you know the things I say right your quote lifted off of me what good good thank you Savannah J. Powell says same thing unlimited I end up everything they have stated listen carefully very important I've ended up everything they have stated just the fat on top of what they've already done it's ten to twenty trillion dollars I've conjured up money about four trillion so from one trillion dollars if just one trillion dollars lifted the markets off and zero percent better than let's just start what can four trillion do is the four trillion already baked in the market right now and by the way were up eight fifty right now so we formed about three hundred points in the last whatever the twenty two oh six OO but that's still boutique learn a lot on the line for the but what about me Gary you're hosting ten to fifteen or twenty trillion well let me be clear about my opinion there was no doubt my mind there is no number two hi know you'll too low they're going to go with so what is my thought process behind this listen carefully notwithstanding you know it's not withstanding means right let me repeat not with standing this pandemic getting worse and worse and worse where everybody's out of work and the markets no know what you know they're all talking right now twelve weeks or less the president is talking about getting a bunch back to work Easter I don't believe I'm by the way and you'll see I'm right on that there is no way he will do that write that down not withstanding a big expansion of this and this is not a genius I think this may but in this environment it kinda is going there a reach not withstanding a big expansion of this I think those lows Monday are not going to be tested that's my guess but that doesn't help you does it how does that help you well if I may end up being right those that stay in the state invested throughout all this got to be happy if I'm gonna be right I could be wrong and as you know what we do here is we take information we get from the markets but I'm just using the fed if we just extrapolate what the fed has done and looks to be doing on any drop in every drop in every issue in the market to the tune I believe it's gonna be double digit trillions shouldn't we think that thirty seven percent the major indices with some areas of the market dropping seventy and eighty percent should do the trick especially if we get past this pandemic so here's my statement I think there's a good chance there is never a hundred percent certainty the fed can change I have no control of them the pandemic can worsen the politicos can do stupid things we can get an outcome like Leeman brothers are bear sterns from over leveraged though I don't think the fed will that would let that happen now I think it'll be really tough right now to take out them Los can we pull back towards them oh hell yeah we pull back a thousand points fifteen hundred two thousand of the almost four thousand yes I don't know how I'll be thinking at that time but I will tell you my fears will be wide open my eyes will be wide open and we'll see what how what's taken and we'll try to take advantage of based on what we know we know what the fed's gonna do they will pull out all stops for the market making the rich richer again the port getting some checks and the savers group that is my thought process I do not want you to play off of it because it's just what I just said to drop two thousand points in the fourth and that would kinda be normalcy they'll be some normalcy here I'm just letting you know my file manager thought process outside what I see on a daily basis make any sense hope I do if you don't think I do.
"j. powell" Discussed on Biz Talk Radio
"So unlimited amounts you mean more than a trillion you mean more than four truck what what does all that mean unlimited amounts well in case you don't know the today show J. Powell did an interview on the today show this morning he never does that now I also want to say I think winning Savannah Guthrie she didn't quote me by name she quoted all my quotes in the questions to Jay Powell she should have used my name since I'm with fox and she's N. B. C. she just stole my phrase in asking the questions you know the things I say right your quotes lifted off of me what good good thank you Savannah J. Powell says same thing unlimited I end up everything they have stated listen carefully very important I've added up everything they have stated just the fat on top of what they've already done it's ten to twenty trillion dollars I've conjured up money not four trillion so from one trillion dollars if just one trillion dollars lifted the markets off and zero percent better than let's just start what can four trillion do is the four trillion already baked in the market right now and by the way were up eight fifty right now so we formed about three hundred points in the last whatever the twenty two oh six so but that's still a lot off the lows for the four trillion but what about me Gary you're hosting ten to fifteen or twenty trillion well let me be clear about my opinion there is no doubt my mind there is no number too high no yield too low they're going to go with so what is my thought process behind this listen carefully notwithstanding you know it's not withstanding means right let me repeat not with standing this pandemic getting worse and worse and worse where everybody's out of work and the markets no know what you know they're all talking right now twelve weeks or less the president is talking about getting a bunch back to work the star I don't believe I'm by the way and you'll see I'm right on that there is no way he will do that write that down not withstanding a big expansion of this and this is not a genius I think this may but in this environment it kinda is going there a reach not withstanding a big expansion of this I think those lows Monday are not going to be tested that's my guess but that doesn't help you does it how does that help you well if I may end up being right those that stay in the state invested throughout all this got to be happy if I'm gonna be right I could be wrong and as you know what we do here is we take information we get from the markets but I'm just using the fed if we just extrapolate what the fed has done and looks to be doing on any drop in every drop in every tissue in the market to the tune I believe it's gonna be double digit trillions shouldn't we think that thirty seven percent the major indices with some areas of the market dropping seventy and eighty percent should do the trick especially if we get past this pandemic so here's my statement I think there's a good chance there is never a hundred percent certainty the fed can change I have no control of them the pandemic can worsen the politicos can do stupid things we can get an outcome like Leeman brothers are bear stories from over leveraged ETFs though I don't think the fed will that would let that happen now I think it'll be really tough right now to take out them Los can we pull back towards them oh hell yeah we pull back a thousand points fifteen hundred two thousand of the almost four thousand yes I don't know how well be thinking at that time but I will tell you might years will be wide open my eyes will be wide open and we'll see what how what's taken and we'll try to take advantage of based on what we know we know what the fed's gonna do they will pull out all stops for the market making the rich richer again the port getting some tracks savers group that is my thought process I do not want you to play off of it because you're just what I just said to drop two thousand points of the fourth and that would kinda be normalcy they'll be some normalcy here I'm just letting you know my file manager thought process outside what I see on a daily basis make any sense hope I do if you don't think I do email me.
"j. powell" Discussed on Biz Talk Radio
"Than a trillion you mean more than four truck what what does all that mean unlimited amounts well in case you don't know the today show J. Powell did an interview on the today show this morning he never does that now I also want to say I think winning Savannah Guthrie she didn't quote me by name she quoted all my quotes in the questions to Jay Powell she should have used my name since I'm with fox and she's N. B. C. she just stole my phrase and asking the questions your quotes lifted off of me but good good thank you Savannah J. Powell says thank thank unlimited I ended up everything they have stated listen carefully very important I've ended up everything they have stated just the fed on top of what they've already done it's ten to twenty trillion dollars I've conjured up money about four trillion so from one trillion dollars if just one trillion dollars lifted the markets off and zero percent better than let's just start what can four trillion to is the four trillion already baked in the market right now and by the way were up eight fifty right now so we formed about three hundred points in the last whatever the twenty two oh six so but that's still a lot off the lows for the four trillion but what about me Gary you're hosting ten to fifteen or twenty trillion well let me be clear about my opinion there was no doubt my mind there is no number too high no yield too low they're going to go with so what is my thought process behind it listen carefully notwithstanding you know it's not withstanding means right let me repeat notwithstanding this pandemic getting worse and worse and worse where everybody's out of work and the markets no know what you know they're all talking right now twelve weeks or less the president is talking about getting a bunch back to work Easter I don't believe I'm by the way and you'll see I'm right on that there is no way he will do that write that down not withstanding a big expansion of this and this is not a genius I think this may but in this environment it kinda is going there reach not withstanding a big expansion of this I think those lows Monday are not going to be tested that's my guess but that doesn't help you does it how does that help you well if I may end up being right those that stay in the state invested throughout all this got to be happy if I'm gonna be right I could be wrong and as you know what we do here is we take information we get from the markets but I'm just using the fed if we just extrapolate what the fed has done and looks to be doing on any drop in every drop in every tissue in the market to the tune I believe it's gonna be double digit trillions shouldn't we think that thirty seven percent the major indices with some areas of the market dropping seventy and eighty percent should do the trick especially if we get past this pandemic so here's my statement I think there's a good chance there is never a hundred percent certainty the fed can change I have no control of them the pandemic can worsen the politicos can do stupid things we can get an outcome like Leeman brothers are bear sterns from over leveraged ETFs though I don't think the fed will that would let that happen now I think it'll be really tough right now to take out them Los can we pull back towards them oh hell yeah we pull back a thousand points fifteen hundred two thousand of the almost four thousand yes I don't know how I'll be thinking at that time but I will tell you might years will be wide open my eyes will be wide open and we'll see what how what's taken and we'll try to take advantage of based on what we know we know what the fed's gonna do they will pull out all stops for the market making the rich richer again the port getting some checks and the savers group that is my thought process I do not want you to play off of it because it's just what I just said to drop two thousand points of the fourth and that would kinda be normalcy they'll be some normalcy here I'm just letting you know my file manager thought process outside what I see on a daily basis make any sense hope I do.
"j. powell" Discussed on Biz Talk Radio
"I knew it was meaningless do you know why because I can tell you he's been doing the knocks you we already even though he says it's not too weak because we don't really is he's been printing trillions over the last few months already that's number one he's been buying bonds already and we ask yourself a simple question how it's going to help the economy the take rate from one percent to zero besides **** savers it's not because I got news for you your mortgage rates are going to go that much lower they have to stay up somewhere your loan rates are going to go much lower so what's his goal his goal was to stop the markets from going down because of all the asset bubbles that they all created but this time the market said kiss mine we can tell you're desperate little nerd and we've had enough the so all the central banks have boxed themselves in like mixed nuts what next negative rates J. Powell in other words you deposit money some first with somebody and you got to give them the toaster what's next more printing of money what is that going to do nothing so they are in the box I feel like castrated jackasses they didn't get you can't get nothing done but you know who can get something done ladies and gentleman hi our scientists a great health care workers the people that are stocking the shelves like mad at our supermarkets our.
"j. powell" Discussed on Biz Talk Radio
"Feel better so imagine we've got all these negative rates around the globe fifteen trillion of bonds fifteen trillion of bonds of negative rates in Saint you have J. Powell down two one half percent on its fed funds you have him printing zillions a lot more than Bernanke ever did what we had nine percent unemployment and then we get the virus trouble always has a catalyst we don't know where it's going to come from the catalyst an old seven was real estate bubble calls by the bubbles that Bernanke created he came up with a solution he just what Maurice so we get this virus and I told you last week that everybody's gonna start lowering rates and printing money I told you that last week because that's their modus operandi hi every time there's a problem they do this same thing easier money screw the savers so markets got trashed till Friday and we told everybody Friday mid day we thought a low was being put in but we couldn't save the low and that means that the find a low versus the low eight low cost means the market found an area where it's not going to be going lower than for now but we really can't tell if it's the low meaning in bad markets usually have three legs there but in central bank markets we can tell you in the last quarter of two thousand and eighteen it was kinda like three months down and right back up and we always use the term we need some more cards come out of the deck a low and we defined a lot we come up with the a low because massive record volume on the nasdaq up big wash out that type of thing and we don't know if it's not going to be V. lo if the a low last two months we can rally up for two months and then when we went through the bear market in two thousand or three we rallied up for one moment thank it could be months it could be weeks it could be days our favorites not days when you get such a move but anything's possible why central banks continuing to interfere you know markets were always supposed to be about you win only investing in trading at a given price at a given time without the interference of a few X. tenured professors running central banks but lo and behold that's what we got now we have a president that used to say zero percent interest rates is a criminal act now he wants negative rates so I can't tell you how nauseating that makes me anyway so we got this virus and and you know we're only gonna know months from now how weather was over blown or knocked you do realize that right I mean cosco is being you know everybody's buying everything at Costco all kinds of flights have been canceled including festivals and schools are shutting and that this talk of the Tokyo Olympics the NBA's talking to themselves about how can we handle this if this gets worse all kinds of things are going on the media I think it's doing their job pretty well I mean that their job is to report the news I get it but only in many months from now we know we have precedent we've had stars in some of these other things and eventually these things work themselves out what was the catalyst the card for what would happen any house in the market to an extent and what is done is really taken the curtains down on the problems that we have and that is two hundred fifty trillion dollars of government that brought you by your wonderful governments around the globe ends the central banks that have distorted everything so today's Tuesday that we here yesterday the G. seven is going to have this meeting this that the other thing blah blah blah blah blah United States is included and they're ready stand fast to help out even though we don't I don't want their help they're morons they're a bunch of morons with every answer is easy money but in negative rates that hasn't helped the biggest problem is all the socialism around the globe the size of government the massive amount of debt that they've created so the people that are telling us we're going to fix the problem the ones that create all the problems so the market opens today with all we heard from the G. seven was saying you know we're we're we're here but at ten o'clock the Dow was down three hundred points and James Powell lowers rates of ten o'clock by a half percentage point down to one percent and it's my contention he lowered them not because of the virus my contention that he was gonna lower today until he saw the Dow down three hundred points that was my contention but people can argue or not I've been right about this for ages so argue what and all we can tell you is on a lowering of rates a half point from one half to one which I couldn't do anything for anybody what you think you're gonna get better there's not there's going to be less what economic growth if he goes from one half to one you kidding me if somebody decides not to travel more is gonna have nothing to do with the better off J. Powell went from one half to one thank heaven for ninety whatever they want the same all we can tell you is at the close of this move by J. Powell today surprisingly and the market wrap is brought you by investment dash models dot com that is Jim Moore back.
"j. powell" Discussed on Bloomberg Radio New York
"J. Powell says the coronavirus quote poses involving risks to U. S. economic growth and signaled the central bank is prepared to cut rates if necessary to support the longest ever expansion Goldman Sachs economists expect the world economy to succumb quote to a short lived global contraction that forces the federal reserve to slash rates in the first half of the year gold down three point six percent of the fifteen eighty five Beyonce West Texas intermediate crude down three point nine percent fifty five twenty six turbulent week rough seas for a lot of the cruise line stocks carnival though turned around today advancing by five percent royal Caribbean up by four point four percent Norwegian shares advancing today Norwegian cruise line shares up today by seven point three percent recapping stocks lower S. and P. five hundred index down twenty four down eight tenths of one percent I'm Charlie published and that was a Bloomberg business slash Charlie thanks so much you're listening to Bloomberg business week right here on Bloomberg radio I'm looking forward to decide is to turn next conversation our next guest is the doctor had to manager looking for answers to aging along with promoting the greater good Dr junior is president of Palo alto investors based of course bellow out of California but he made his way to a bluebird interactive brokers studio here in New York welcome thank you for having me we have been looking forward to having you on with us talk to so a little bit about your your world and your approach and your investing because you are looking I feel like to make things better in this world in a in a couple different ways tell us a bit about palace alto investors that yeah we've been over thirty years and we invest in things that improve the lives of people in healthcare is a great way to improve the lives no all that said we've been extending life without actually addressing aging so the part of the health care ultimately is old people that need more health care so that's such a vicious cycle so as amazing as the healthcare industry is and all the people that work in and I took a trip to Iran it's just gonna self inflicted bigger bigger step as publishing is older and adventures going to consume the whole economy such as amazing as it is I think when you have the complete different in fifteen years the average health because of an American I think every American can equal the average salary so it could be game over fairly soon so we need to radically shift our approach to how about keeping people healthy and really work on the underlying causes of aging rather than treating the symptoms of aging for treating things like diabetes and hypertension and obesity are really addressing the symptoms and not journaling because they forget you improve the underlying health and they'll make sure you don't age then you don't end up with the symptoms of aging then you would achieve not only build the live longer potentially but have a most much healthier quality of life as well all right so that makes an immense amount of sense and and I think you as someone who is not only a medical doctor but also an investor understand that better than we do that the economics of the business are such that that's not how it works is that the problem the the economics of the system or is it more structural than that was interesting so I think the economic sector play a key role here because the incentives aren't there to look at that problem the deeper problem and so therefore it's just been hiding in plain sight it's been lacking gas so I do think that people are becoming aware of just how important opportunity aging is as outside the field and also to invest and invest what paternity traditional healthcare they'll play into this like pharmaceutical companies and insurance companies are they the ones holding us back from really changing the model notes after us so we just forgot to really do inclusive stakeholder you've got to think about all the stake holders in the system then you would have to approach everything differently including the site itself what we've been doing there stakeholding and so we've really missed opportunity to think about the problem right now everybody benefits a little bit from the system so when you look at the long haul the future version of ourselves our bodies and the system is much worse off so we're gonna we get it internalize that externality so we don't pollute the world with old sick people we often eat healthier population and I think this is a really really straight forward to doing things a systems perspective said I'll get there was it was again trying to understand right so what is that media our approach to how we do things well so much I'll talk about the biology first and then how do we get how did this in other systems for the healthcare institutions were terrified of him I miss an amazing system of people are not happy with health care so really we have to redefine health the way you when I think about health just like this big definition but biologically I come from a medical background said it was about the in college and I think about health as homeostatic capacity not homeostasis is one word changed but for the audience they can think about is a weevil wobble when you're young when you push everything self centers and after forty year we will doesn't self anymore sold us said you can't do the things used to be able to do that you can ride a roller coaster because now when you come out of it you don't recalibrate your kind of wild boys I don't wanna do it anymore I am well aware of this phenomenon thank you for pointing it out so true right didn't face it when you're younger I have read forty it's going to change the link so I can change for me and then it did going back were there so many things we sort of feel affording never felt before such as when you're young you don't feel cold call the fifty my kids are running a teacher to fifty I got two layers on yeah when it's eighty I'm sweating and I can't stand it they're like totally fine so what's really happening is were not able to tolerate the dynamic range anymore the variance anymore like everybody was the same degrees all the time in your California your blood's not thinning you're losing home instead of capacity you're weevils getting weak weaker same with late night jet lag hang over everything takes longer to recover after forty broken bones cuts everything's longer so you we will doesn't self center now when I go to a restaurant my people don't open up enough so it's too dark when I go outside doesn't close enough is too bright it's all home is that a capacity call today eight thousand feet I'm huffing and puffing my kids are sprinting around a dad why can't you keep up with us right because my ability my revolver themselves so how do we are we just got to deal with it or how do we better deal with that yeah this is the I think one of the great paradox of twenty th century I think we swung and missed in twentieth century by the way I should mention things like type there's things that you can't feel that wobble when you're young that always self centered like your blood sugar and and blood pressure always self center after forty it stays high and some of us and we call that diabetes and hypertension information is a good thing when a self centered if it stays lag that's when it's dangerous right sensitive I think about all these things that separate diseases I'm kinda lumber I think it's all one disease it's impossible thousand different is going on one thing's going on your we will done self center and then the way we treat it I think it's been since the doctor but I think it's been exactly what's the best way to lower blood pressure is not to take a blood pressure lowering medicine you know what it is exercise exercise when you exercise your raising your blood pressure so when you rage when you take a blood pressure lowering medicine likes like propping up children they get weaker so every drawing the market's gonna causes atrophy of your in a system you need more drug this the self fulfilling prophecy where drug put this we have to take a break we'll come back and talk more but that gets to my point that is part of the problem like the pharmaceutical industry right the system is exactly right we're gonna talk about this is Charlie we need to change instead of so what our family did was we need to focus on homeostatic capacity I studied the body dynamic the older but all of your annual I'm sorry to all your tests but we should be testing that your blood pressure heart rate glucose cholesterol we should be testing your Harvey recovery but there's a recovery from exercise glucose recovery so everything should be forty measure everything should be dynamic diagnostics is the right thing all right hold that thought we're gonna come right back we're talking to Dr joon Yun he's president of Palo alto investors this is getting so interesting I delight love you may not like to go exactly you may be here thank you so much I think you've hit on something we're both just kind of obsessed with all right we're gonna get back to that in just a minute taking a look at a market that settled toward the end of the day I don't see much more to come we're watching headlines close on the weekend we heard from the president let's get some world a national helpline.
"j. powell" Discussed on Biz Talk Radio
"New sure hearing but also what I said before in just fourteen months the Dow was up thirty six percent of the highs last week in the net nasdaq was up fifty eight percent you can't have five steps up and no steps back step two steps up one step back and it didn't do that because a J. Powell and it's printing of money so as I go through chart after chart after chart just the tonic short breaks nice trends broken just about everywhere just about everywhere seven hundred new yearly lows in the market in a matter of two days off the highs basically new highs in the market a bunch of bond funds that's all I got free a few names matter here and here there but a bunch of bond funds tactics I have no clue right here because hello I need a cell here we can rally up five hundred police telling you not to so we can continue down another five hundred quickly that's how random things are in here as I went to sleep last night futures are up two hundred as I speak right now and the market is closed and I'm just looking at the trading in the aftermarket the Dow the S. and P. and nasdaq up about four tenths of a percent in the aftermarket but I'm also noticing some of the things in the aftermarket sales force dot com beats the number guides higher the stock closed at one eighty one and change I got it one seventy six and change in the aftermarket what if we told you in bullish markets bad news is good news good news is better news in bad markets good news bad news bad news is worse news.
"j. powell" Discussed on Biz Talk Radio
"Don't know the reasons why we don't know the reason why but when ever our central bank goes easier what prince money market reacts well that's all now we're only supposed to print money when we're in dire straits that's the MRO modus operandi only supposed to print money when we really need to J. Powell's printing more money now than they were making did well in ninety percent unemployment and worried about financial meltdowns so what gives I don't know I'd like to say he's insane but I don't know I think they're all a bunch of idiots I think every answer is easy money an easier money Babe the telling us that the repo markets not that great a shape beneath the flooded and at and go look it up I'm not going to get into it the bottom line markets react to this quantitative easing crap which in short more bubble as we move forward that's what I thought.
"j. powell" Discussed on Bloomberg Radio New York
"Business week it's all about J. Powell and his rather uncomfortable shall we say relationship with the man who appointed him to that job president Donald Trump the cover is one took hold and I know one that the editor of business week however thought a lot about as he tried to illustrate this story stories written by Chris kind and he's are fed reserve reporter down in Washington he joins us from our studio there are nine and I'm one studio in Washington DC delivers here with us in our interactive brokers studio till I want to start with you how did you how did this all come together from your perspective so a couple weeks ago we started talking about what we think is maybe the most important story in the Bloomberg universe which is this tension between the federal reserve which is probably the most important financial institution in the world and the president that win with morning Chris I started talking about it initially we actually realize that it's almost to a one year mark and actually I think the date was July nineteenth that trump tweeted is first critical tweet of the fed and it only got louder as the years go on on that year's unfolded and so we went to christen said what impact has all that noise had on the fed which we all recognize forever has really been this independent institution because if anybody else does that story before us and gets the answer that we want we're going to be really mad at ourselves so that was the assignment day Chris we gave Chris and then he went off and I think came back with an even better story well I'm Chris talk about your story and as you you know reported it out you know how did it unfold for you what really stood out for you sure sure well this happened I think on two levels as Joe has said we started thinking about how the fed is directly impacted by all of this factoring coming from the president and the answer that really comes back first when you examine the fed as an institution and Jay Powell as a leader is not that much actually the fed is built very well to hold up in resisting against a lot of outside pressures and Jay Powell when you talk to people who known very well it is it is a guy who has a very cool demeanor his temperament is essentially built very well to stand up to somebody like Donald Trump and I I invoke to the classical Roman philosophy of stoicism in fact in describing him but then you get to another level and find that if if you could extend the continuum of of trump's attacks on the fed it has taken a turn earlier this year away from jet simply public commentary to changing the types of pixie makes in nominating folks to the board of governors at the fed so there seven seats on the board of governors and they're currently two empty seats and for a while trump was picked when they were previous openings he picked all together normal traditional types of people to serve their if in he of course as you said pick Powell to be the chair more recently however his picks have become quite threatening I think to people who work at the fed people who feel themselves to be allies of that institution because they feel that process has been politicized in that trump is seeking people who will do his bidding when officials meet to decide on interest rates and you know Chris one of the things I think that that really kind of brings into play here is this idea of of how the fed might be vulnerable right so what what's the timeline potentially looks like in and which Shelton is sort of the person who is viewed in the article at least six she basically comes across as a potential fox to get into the hen house right so what kind of time line or you potentially looking at here that's correct that's correct talk about Judy Shelton former campaign adviser on economic matters to trump in a long time let's say libertarian thinker and economists she this is not gonna happen quickly because that Congress is going to going to summer recess this is going to take a few months and fed nominations at as with many other nominations take a long time to go through this confirmation process first the person has to go up to the hill from first her nomination has to be formally submitted to the Senate then she's going to go out and schedule a whole bunch of meetings with every member of the Senate banking committee and if they feel that she's got a good chance at getting confirmed then they'll go ahead with scheduling a committee hearing the Democrats will get their chance in the spotlight turned to hammer away at her question her and then they'll be further time period where they try to schedule floor time for a vote it will take many months possibly not until around the end of the year before she could see a vote on the floor of the Senate and all sorts of things can happen between now and then having an unusual time we are indeed and really highly recommend this story because as dole said and as Chris said it works on many levels really important understand this relationship given the importance of the fed in the world of economics all right you're listening to Bloomberg.