35 Burst results for "J. Powell"
Michael Flynn's attorney asked Trump to hold off on pardon
"Lawyer for former National security advisor Michael Flynn told a judge. She updated President Trump on the case's status and asked him not to issue a pardon for her client. Attorney city. Powell was initially reluctant to discuss her conversations with the president or the White House, saying she thought they were protected by executive privilege. But under persistent questioning from a judge, she acknowledged having spoken to the president in the last few weeks to brief him on the case and argue against a
Unemployment Claims Rise as Job Rebound Loses Momentum
"Ativan, economist with Bloomberg Economics landed good to talk to you. Ah, Prior to the pandemic, President Trump emphasized the solid job gains experienced under his presidency. Of the unemployment rate in February that matched a 50 year low. We'll covert and the lockdowns obviously upended everything. And in the swing states, the jobs picture may ultimately decide the November 3rd election. What What are you expecting to see in this report will be the last report before the election day, so A crucial report, obviously, and we may still see a small gain. But it's pretty obvious that gains in terms of perils have been slowing in recent months, so I think what is it? What will be even more important is the jobs report off? At the state level that is coming out on the job between us. There's a lot of people that are coming back to work just simply because they lost doubles benefits at the end of July, when that program expired. So then I think, ah lot of people are losing jobs. And those losses are not directly related to the dynamic itself. Those job losses are happening because of the weakness in the economy. Because certain companies three open, but they don't need of many workers anymore because they simply on not sure if they're good service along the needed. So I think we're entering in a more ah, like traditional recessionary dynamic, even though the recession is over the recovery still very slow, and I think the labor market will lack an improvement in economic growth going forward. You've mentioned the benefits remind everybody when those benefits for people expire. So usually regular state benefits lust for 26 weeks. And Thiss Week. This week marks 26 weeks seems a lot of people started getting unemployment benefits in the midst off the condemning back in March in April, so a lot of people will simply exhausts regular unemployment benefits, and it's already happening. So they will have Teo get unpleasant benefits under federally funded special programs, and that will give them an extra 13 weeks. But what is happening right now? Is that a lot of people moving from regular being regularly unemployed into long term unemployment status? And that has its own, you know, but the point because When you're along someone employed, you start to lose skills if it makes it much harder to get a job. These were the issues that the former Fed chair Janet Yellin had to face in the previous extension. I think Jay Powell will face them, too. In this recovery. Do we get a good handle on just whose permanently unemployed At this point? I think the services sector is the really suffering much. One than goods producing sector. We saw a very sharp rebound in the manufacturing sector things getting back to normal simply because this is such a tremendous the lack off inventory, so they just need to catch up. At the same time in services. People are very slow to to get back to work because a lot of places are still closed. Oh, have limited capacity, things like rest, Strong said. People, obviously not traveling as much as they used to. So this is sector where we will see Ah lot of weakness going forward, and until we get a vaccine or an effective treatment for 19 will probably not going to see Jobs or the level of acidity going back to pre crisis levels. And how does seasonality fit into all this? If it does, so, we're entering a very interesting period in terms ofthe seasonality, so The holiday season is right around the corner, and that would police don't don't remind me. Yes. Yeah, Get you leased the ready. Okay, So I think that it's very important to look at this effective because During September October. Many companies, usually Hyatt workers right and killing the services of retail sectors, but well, they hired many people, as they usually do, though that's a big question, and I think the slow down and if the economy is telling us that that might not happen So the reported data will be very difficult to show strong increases in the next couple of months. I think that the reported data will be generated. Relative to regular patterns. So we already saw that in the retail sales report, elitist one and I think going forward. Carol's report claims jobless claims reports and probably also retail sales with what will show something claims.
Wall Street fears volatility long after election day
"Let's start with election chaos kate I'll start with you is. That the thing that would cause markets to bulk like there has been this this increasing conversation about expectations of volatility. If there is a contested election, what does it mean for among other things the economy? Well. You know as I think a lot of us who cover the economy like to point out the stock market isn't the economy, but it's a really important. Part of it is important signals that it sends and right now I think that what we're hearing and seeing and a number of different ways is that Yeah Wall Street is getting nervous I. I. Remember a few weeks ago getting an analyst note from a research firm here in DC laying out all the various scenarios of what might happen and what kind of chaos it could trigger and it just seemed kind of surreal reading it and I asked one of the authors and he said we're just getting so many questions from our investor clients about this issue, they want to know what is going to happen. They WANNA be prepared. You know typically in history. We've had one one of two scenarios either Republican Windsor a Democrat wins in this time it's not clear or you know may we might might not be clear who the winner is for some time maybe the president could challenge legitimacy of the election. There's there's a lot that could happen in Wall Street does not like uncertainty. Yeah Gino what does it mean? If Wall Street starts to get nervous not that I think Wall Street's GonNa Swoop into the rescue here but you know what could that lead to? You know I think it's interesting because this isn't a scenario in which it's really easy to just come up with an immediate solution given enough pressure. You know it is probably the case that we are not going to happen immediate conclusion to the vote count where we're likely not going to know who won on election day, and that's not really a changeable fact. So some some period of uncertainty lies ahead of us I think the real question is whether this election ends up being contested I. think that's clearly the thing that makes investors most nervous right now and I I just don't know what happens in that. Instance because you don't see situation where it would really be in anybody's interest you know there's there's no, it's it's not obvious that a real plummet in stock prices would be the thing that would prompt president trump not to contest this election. Since you know presumably he he would only be contesting if he had already lost and so I think there's there's really opened brushes some real reasons for legal to be nervous in it. That's why you are seeing what keep mench in which is just you know investors increasingly kind of scratching their heads and and looking toward the future with a lot of a lot of uncertainty. Right. Well, the other thing that's happening with all of this uncertainty exacerbated by of course, the Supreme Court fight is is that Congress has I. Think has been pretty effectively taken off the ball with respect to relief, right? Kate. What happens if if literally no more help comes from Congress on top of everything else. That's right I mean it seems like there's a there's perhaps a bigger risk from that scenario for the economy right You know there might be some turbulence around or after the election we don't know what that looks like or how long stock market turbulence. But for the for the fundamentals of the economy we are right now in this period seems really critical. People are trying to figure out what is happening right now what what are we going to see in the data because of course in? The end of July these enhanced unemployment insurance benefits expired and I think that a lot of people who had been receiving those maybe they'd managed to save up some money. They were drying down savings. We didn't see an immediate drop off from the expiration of those benefits, but there are definitely signs that things are slowing and You know we've heard from a number of economists on. We heard it again from Fetterman Jay Powell this week that you know eventually with Out. More fiscal support we're probably going to start to see the negative effects from some of that relief and it's not just uninsured and empl unemployment insurance. It's you know extending credit for small businesses. It might be you know around another round of stimulus checks just to help give people a little more of a cushion. So those are things that both sides want but there are some bigger issues that are kind of keeping them from coming together on this effort DOES THIRTY SECONDS LEFT GINA? Where do you think whereas the urgency? What's IT GONNA. Take. Yeah I mean I think it is a really interesting question what we have seen some sort of centrist Democrats in moderate Democrats really starting to get a little bit nervous in maybe push for some sort of compromise which I think is probably the best hope for compromise before the election I've not heard that we're GonNa get there an instance that we don't. You know there are real risks for the economy ahead. If we do not as as Keith mentioned if we do not have some more spending here I think it's one thing that's worth noting. I think a lot of people are taking comfort in pretty solid economic data right now but. A lot of American households build up solid savings buffers off the spending that happened earlier, and now that is kind of getting worn down in. So at some point in time that they will get through that. Kate Davidson at the Wall Street Journal and Genus smiling at the New York. Times. Thanks so much you too. Thank you. Thanks smelly.
Ornithologists Attribute Owls Nocturnal Lifestyle To Cocaine Habit
"Powell's when we're putting on our PJs they're just waking up to start their day and when we're waking up there in their nests putting on PJ's of their own but why scientists have long wondered about the predatory Birds unusual sleeping habits, but a new study now attributes the owls nocturnal lifestyle to their hard cocaine habits here at the details is opr nightbeat bird correspondent Charles, Dearborn Charles are you there? Who's asking me the topicals host? Leslie Price, you meant who like an oil says off that is just too cute Charles tell us more about this study a little scam gladly in a ground-breaking report released in the scientific journal Nature want to solid just said Bowdoin College in Maine made the case that all owls struggled with severe cocaine addiction that keeps them up from Sunset to the wee hours of the morning. Here's the studies
Stimulus from Congress needed for full economic recovery
"UN. Let's start in the United States Federal Reserve of. Warning more fiscal stimulus is required. ABC Five down days out of the last six sessions for us. Stocks are pretty gloomy MoD hanging over the markets in America. Coming from Federal Reserve officials really not helping. Host of comments from over the last couple of days estrogen that more fiscal stimulus more government spending possibly, tax cuts is needed in the US to sustain the economic recovery not chairman Jay Powell the money himself continuing to waive the fiscal flag while the carefully at a Congressional hearing saying that more support is likely to be necessary others while the clearer in their word in Cleveland Fed President Loretta Mestre saying it's very much needed given the deep hole the economy is climbing out of. Boston President Eric Rosengren cautioning that it could take another wave of farce infections to prompt further action. The problem not for the first time is gridlock on Capitol Hill Democrats and Republicans have been at loggerheads over the next virus relief package really throughout the some of the no formal negotiation since early, August, and then of course, the death last week of Justice Ruth Bay the GINSBURG. Putting the S Supreme Court sends a stage rather than more stimulus measures from the US government. So the Federal Reserve, the Central Bank clear that more money is needed from the government's but that doesn't seem to be forthcoming.
Powell and Mnuchin voice optimism but back more economic aid
"Treasury he, Steve Mnuchin says the administration is ready to offer more help toe workers and businesses. We continue to work with Congress on a bipartisan basis to pass a phase for relief program. I believe a targeted package is still needed, and the administration is ready to reach a bipartisan agreement. This at a House hearing along with the Fed chief was also still signalling another relief bill would help. But Congress is focused right now on a short term spending bill to avoid a government shutdown next week, and it's not clear what might be held up as Democrats object to an election year. Supreme Court nomination. President Trump says he will name his pick on Saturday.
Mnuchin, Powell Push For Aid to Help Economy Recover
"Also a concern with millions of Americans still out of work Fed chair Jerome Powell today telling lawmakers on Capitol Hill there's been improvement from pandemic clothes, including increasing household spending and hiring, But people are still hurting both employment and overall economic activity, however, remain well below their pre pandemic levels and the path ahead continues to be highly uncertain. Cal and Treasury Secretary Steven Mnuchin says that more relief aid is needed to help shore up the economy. GOP
Chinese Leaders Split Over Releasing Blacklist of U.S. Companies
"Investors are hoping for a better day today after losses across market yesterday, but it wasn't a typical selloff stocks drop but so did gold and oil are markets editor Quinton web explains why that matters. It was notable various asset classes sold off together. So not surprising no oil sold of two because if you take a gloomy view on the economic outlook, oil is likely to fall in price nights. Villette gold sold off to gold has been wising for most of the year, but it seems also, it doesn't necessarily this year always rise in other markets falling. This is nothing like I should say the panic of where all asset classes because they was selling off. In tandem investors just rushed to raise cash but in this case, gold seems to dipped a little bit alongside stokes. What's notable is we've seen this kind of broader shift in sentiment I think in the last few weeks. So other summer of kind of almost relentless rallies, we've had several weeks now where stocks sorta traded sideways down and this was a very bad start to this week. So it'd be interesting to see how US equities trade throughout the rest of the week. Today. We get Nike's earnings report also Fed Chair Jerome Powell and Treasury Secretary Steven. MNUCHIN. Begin three days of congressional testimony.
Fed's Powell says US economy faces long, uncertain recovery
"Jerome Powell says the economy is improving, but in testimony to be delivered tomorrow before a House panel says it faces a long, uncertain recovery. How will appear alongside Treasury Secretary Stevens?
Nikola Founder Resigns as Executive Chairman Amid Fraud Allegations
"Runnin son on Wall Street, Another rough day of September continues to be the cruelest month for stocks. The Dow falling more than 600 points in the first few minutes of trade, trying to recover off those lows S and P and NASDAQ, also flirting with with about about 2% 2% declines. declines. This This comes comes as as Europe Europe is is down down 3% 3% on on worries worries about about an an increasing increasing spread spread of of the the Corona Corona virus. virus. Ah, Ah, possible possible UK UK lock lock down down and and a a real real pickup pickup in in infections. infections. In Spain. Add to that what appears to be now some difficulty in the world of SPAC special purpose acquisition companies like Nikola, whose CEO or executive chairman just resigned today amid allegations of fraud concerns about the state of politics in the U. S no relief for stimulus from the federal government, the Supreme Court vacancy that could create a large political fight and we have a risk ofthe day across the board. With stocks down oil down gold down interest rates falling as well Flight to quality into U. S. Treasuries Driving the yield on the 10 Year down 2.65% in a week when Federal Reserve Chair J. Powell be testifying before Congress later on so very rough start to the week continued declines after from the last three weeks. Very Rocky Day on Wall Street. I'm Ron Insana for New York
Biden's Agenda for the Latino Community with Congresswoman Sylvia Garcia
"I'm Jim Taylor skinner, and this is the electorate. On this episode I have a conversation with representatives, Sylvia Garcia of Texas twenty ninth congressional. District. Discussed Biden's agenda for the Latino community and what we can expect from Bein Harris Administration including their plans to address income and healthcare disparities and the disproportionate impact of Kobe purpose. Of course, also addresses those criticisms of the campaign around whether their outreach to the Latino community is enough. So here is my conversation with representative Sylvia Garcia. Purpose Garcia. Welcome to the PODCAST. Well. Thank you for having me. If I I want to talk about the Biden Campaign I. Guess these are criticisms not doing enough to connect with the Latino community, and if you think that that assessment is fair or do you think that there's more work to do there? Were you know I think people are just so excited about the Joe Vying Kamala Harris. Ticket that everybody wants some light right there now in their neighborhood at knocking at their door, I mean, they're that excited about this ticket that I think there's some folks who who just feel like until they go come to their neighborhood, it's just not happening but but I know I serve on the National Latino. Council. For by now early supporter I know that from day one joe by his been reaching out to Latinos but I know that we can always do better. Anything that we could do to make sure that we reach more. Latino voters. Not Just in Florida not just in Texas not just in California. New York Arizona. New Mexico but everywhere across the country because if you look at any state these days we have Latinos everywhere we have them in Hawaii. We have him in Alaska. So I think what matters is knowing that that he has started his spanish-language press he started making sure that we we air as much as possible. Eh, he's gotten. The Latino Leadership Councils now in several states, I know I'm working on building up in in Texas because he wants to make sure that he touches the Latino community in especially also is Dr. Biden I think Dr Binding early on recognized Latino vote was and more importantly how important Bill Latino vote was that I know that she had a virtual event with with the would we call the commoditised synagogue Nestle. Which is Debbie Powell from Florida. Veronica, grammar from from Texas and myself were all three Judiciary Committee and people here called on ESCO mothers did judiciary it stock and Jill heard about it and wanted to do an event with us and we did, and now we're going to launch a commodity to commodity campaign to make sure that we impress all our voters that we got to vote until one mother to another. To remind work in our own mother network to make sure that we come out and vote to make sure that we make the change that's needed at the White House. So I'm excited. So one of the things I've found really impressive about Biden's response to that specific criticism is that he wasn't defensive and I think you know right before he visited Florida reporter asked him about. Whether there wasn't enough outreach to the Latino community and buying said something like you know I'm going to work like the devil to make sure that I listen and their vote. So he was open to the idea that there was room for improvement and I think both by an Harris are both consistent in responding without being defensive you know and they bring people to the table. There's a lot of work to do and I think we can always do better and I can tell you Scott along with surrogate were willing to do that. He's he's got a lot of people on the ground. Excited to do that. I mean I can tell you a story Saturday I. Don't do too many in person events, but they wanted me to go to a phone bank and I was assured that were social distance everybody's a math. And I went and the minute I walked in it was about Sylvia Joe Sylvia Joe. Any they know the job blindness running. They're excited because. It hurts them to see a White House that is about hurting people for us in. Texas. It's about what we've seen him doing at the border, but it's also seeing that they're not getting more help and more relief on for everybody on unemployment. It's also about what he's doing to Medicare and social security because that hurts our relief does on our lead us. So people know and they know the to make the change that we need they're going to have to get there in those phones. And? Of, course, the member of Congress I've First Ladies First. So that became their chance. Soviet Joe and I told him I said well, it's not just a joe as it Soviet Joe more contests. So I left him with at Madeira. Very excited. You're making calls and Were Spanish language of phone calls to low propensity Latino voters in Harris County
Fed Leaves Interest Rates Unchanged
"It's been a rough ride for US stock indexes since the Fed's announcement on Wednesday that it had decided to leave interest rates unchanged, and of course, it was followed up by a Powell press conference. In the last three days, the Nasdaq composite is down by just under four and a half percent s and p five, hundred down almost two and a half percent Dow Jones holding up better down about one percent clearly. What was weighing down the SNP and not so much. The Dow are the tech stocks. They're really dominant in the NASDAQ. That's why it's down the most what people are blaming the sell off on is the fact that the Fed was not dovish enough if you can believe that first of all, what are those statements that the Fed did make is they intend to leave interest rates at zero throughout at least twenty, twenty three. Now, I'm not really sure if that means that maybe they're going to start raising them in twenty twenty three or they'll leave him at zero through the end of twenty, twenty three and they're not going to start raising them until twenty twenty four but whatever it is, it's a pretty solid commitment to leave rates at zero. I don't think the Federal Reserve at any point in time following the OH eight financial crisis made a commitment that solid right to leave rates for so low for so long, but I'm not the only one. That saying that this wasn't enough I mean even Neil Cash Gary came out today I was reading an article he wrote and he says that the Fed's commitment not to raise rates wasn't strong enough now I don't know what he's talking about I mean how much stronger could they have made it I mean could he added a few more not even thinking about thinking about it's pretty clear. The feds not to raise raise but maybe cash carey wants a more definitive statement that like we're not going to raise rates. No matter what. In his article that he wrote a kind of saying that the Fed's commitment to not raise rates wasn't strong enough what he did say though was that you know if we are surprised by unexpected heating up of inflation, he said, well, you know that's an easy problem for the Fed to solve a really a unexpected heating up. In is an easy problem to solve how exactly is the Fed going to solve and unexpected heating up of inflation? Well, it only has one tool, right monetary policy. All it can do is raise interest rates and shrink. It's balance sheet. It can sell treasuries and reduce the money supply which has been growing dramatically although the balance sheet his condiments stuck right around seven trillion So that hasn't really been moving I. Think we're getting ready for another big jump in that balance sheet though. But. How's the Fed? GonNa get a fight inflation. How was that an easy problem to solve? It's an impossible problem to solve which is why the Fed isn't even going to try. I. Mean It's amazing of Kashkari actually thinks that it will be a simple thing to reign in an unexpected heating up of inflation when that would require much bigger rate hikes mean the reason that cash. Carey wants to make sure the market knows that rates are going to stay zero indefinitely is because he knows how important these artificially low interest rates are to prop up the bubbles in the economy. Well, if he knows how important it is to keep these bubbles from deflating, how can he believe it's going to be so simple to raise interest rates if inflation picks up without pricking. The bubble. So the whole thing is ridiculous but as I said on one of my prior podcast about the market I think that the Fed is going to have to deliver a much larger dose of monetary stimulus because whatever stimulus has already been telegraphed to the market is already baked in. So now they need more rate the drug addicts need an even larger dose of this monetary. Heroin, they need shock and awe at this time. So in that respect cash carriers right that in order to get the markets to go up to fed has to bring more to the party as far as more money printing another round of Qe, a massive commitment to print money and to keep interest rates at zero but we're cash carriers. Wrong is the ability of the Fed to actually. Put out the inflation fire if it really starts to rage, it can't, and basically what cash gary really wants the Fed to say without actually saying it because he understands the ramifications is that we are going to keep interest rates at zero. No matter what happens to inflation no matter how high inflation goes we're going to stay at zero see that's really what he wants, and in fact, that's what. The Fed is going to do whether they wanNA, come out and say it or not. You have to read between the lines. They can't raise interest rates because they'll prick the very bubble that they deny exists and the reason they're keeping them zero. The reason they're saying that they're never going to raise them is because they understand this and so they're trying to thread this needle right without breaking the bubble. and. So when He comes out with these comments. He's clearly lying in fact, the one thing about the bubble. Is that nobody at the Fed wants to acknowledge its existence in fact at the press conference that? Followed up on the decision to leave rates zero. What are the most ridiculous comments that Powell made? Is His denial that there was a bubble because somebody asked him and I don't remember who? But one of the reporters at this press conference asked Powell if he was worried. About this easy monetary policy about his commitment to keep the rates at zero till twenty, twenty, three, twenty, twenty, four. If this risked creating bubbles in the financial markets
Fed Signals Low Rates Likely to Last Several Years
"Yesterday about the Fed, indicating it's going to keep rates near zero through. 2023 warns US of risk of the economy because obviously Fed reserve chair Jerome Powell. Eyes flushing out what he sees down the field here. The aim set out in what they call a federal Open Market committee meeting. Eyes to return. The labor market is something like full employment to get inflation. Teo moderately exceed its 2% target. There's a reason for that, because we have to have a stable prices, a cz well as stable, a stable interest rates. So suffice it to say that we're a long way off. Still, because even though the fact that we've got 11 million people that have been rehired That's only half of the total job losses, and that's why the Fed, it's still sort of wringing its hands hear good news is that inflation remains well low below the 2% target. Despite The recent uptick, so we're in pretty good shape. Their markets are going to be a little bit volatile. Today's day. So buckle up coming up on 7 20
Around 860,000 people filed for first-time jobless benefits last week
"Report that shows us how many people file for initial unemployment benefits the week before. For the last couple of weeks, the number's been below one million. It is again, the Labor Department says 860,000. Americans file initial claims last week that is down a bit from the week before and about what was expected. Encouraging words from the Federal Reserve. The nation's central bank says it'll keep interest rates near zero for years and take other steps to help the economy recover from the pandemic. The Federal Reserve's response to this crisis has been guided by our mandate to promote maximum and planet and stable prices for the American people. Along with our responsibilities to promote the stability of the financial system that chair Jerome Powell was upbeat about unemployment, He says the fat expects the rate to be 7.6% by the end of this year, better than the 9.3% forecast in June. Airlines
European stocks fall, Dow futures slide 300 points as market reacts to Fed
"Air dropping this morning along with US stock index futures after a Federal Reserve chair Jerome Powell highlighted uncertainty about the economic rebound. They check the markets every 15 minutes throughout the trading day on Bloomberg SNP Futures down, 34 points down Futures down 251. NASDAQ futures down 96. FedEx and Germany's down about 7/10 Percent and your Treasury up for 30 seconds. He'll 300.68% yield on the two year 20.13% 9 extrude
Washington DC Water: Ongoing project could’ve prevented Northeast sewage flooding
"Customers clean up after the September 10th historic rainfall that heavy rain overwhelmed some parts of the sewer system, filling some people's homes in northeast D. C with the disgusting substance. CEO and general manager David Gattis says up to $5000 will be paid to homeowners for the cost of drying their basements, including removing moldy drywall and sanitizing in an online flooding. Town hall get US also announced a major expansion of the agency's backflow Water valve reimbursement program. That expansion will cover every home within the most seriously impacted DC neighborhoods. The agency says it will reimburse up to $6000 to homeowners for the installation of the device, which is designed to stop sewage flow from coming back into the basement by ensuring the flow goes on Ly one way What other hopes are there to prevent flooding? W T O peace Neal Augenstein reports the flooding that happened in the Edgewood community. We believe the Northeast boundary eternal would mitigate that flooding. DC water Ceelo Tish Powell says That project is already underway and should be done by 2023. The water authority already built the first street in Anacostia Tunnel Systems. To carry storm water and sewage directly to the blue planes. Treatment plan well completely eliminates flooding, But it will greatly mitigate storm such as this Your log unstained W Tio Pino
Fed Signals Three More Years of Near-Zero Interest Rates
"Fed is certainly looking toward a longer term recovery here even though as fed chair, Jerome Powell noted economic activity has picked up since the second quarter what can you tell us about the Fed's latest projections and the decision to hold rates near Zero until at least twenty twenty three. Sure. So this is a pretty remarkable forecast although not entirely surprising given the Fed's new framework that they announced. Recently, they basically said that they're going to keep rates lower for longer. Now, we know with a little bit more specificity that they see them staying near zero as you said, through twenty, twenty three, which is a. Really Long Time they're basically saying that an anticipated raising interest rates again until the unemployment rate is around four percent and an inflation is back up to two percent, which is a lot longer than than they waited during this past expansion in two thousand fifteen when the Fed raised rates unemployment was around five percent and inflation was just around one point three. So that basically means is they WANNA see the economy further along on the path to recovery almost back to you know to it someone call full hall or certainly wear closer to where it was before the pandemic hit before they start raising interest rates again. What are the projections for the remainder of this year? So they they've actually improved somewhat in they. Now project unemployment will average around seven to eight percent during the last three months of the year that's a bit lower from where they saw it in June when they projected about nine to ten percent So remember the unemployment rate hit a high in April of fourteen point seven and it was down to eight point four percent last month. So that's certainly a little bit better but I think that they are also trying to emphasize that the gains that we're seeing now. Or kind of the easy the low hanging fruit. If you will, you know kind of the quick bounceback that you get just from businesses that were closed reopening again but the risk is increasing that you know certain sectors are going to have a harder time coming back a longer recovery. So Powell has said many times that the Fed will use all the tools at can to support the recovery, which he noted has been uneven for Americans. What actions is the Fed planning to take to build on the steps it's already taken to help support the economic recovery especially on even one. Well it's an important question because heading into this crisis, you know a lot of folks were questioning whether the Fed really had enough tools to address a serious downturn and what we've seen so far is that the steps they've taken have been really effective especially the steps that they took in March when there was a lot of financial markets stress, they revamped some emergency credit facilities that they'd use in the last crisis that got. Credit flowing in kind of quality. Some of that volatility rates as we've discussed are very low they're going to stay near zero. They are purchasing making these long term asset purchases of government bonds, securities, and they're going to continue doing that for some some time there a little bit vague today about exactly how long they plan to do that. But that will that will help you know really we heard fed chair Powell say that. That the Fed, the Fed can lend to companies I mentioned another one they're doing they have the mainstream lending program although there hasn't been a lot of a lot of interest in that but they can't just give money directly to people that solely in the purview of Congress and so he reiterated again, we've heard him say this a number of times that what we're experiencing really probably will require more fiscal support more money from the Government to give to people not to just lend to them. But just to give them to help make these improvements that there's only so much. The Fed can really do right in the Fed to stay pretty apolitical here but Powell has noted the impact of the federal stimulus which we know another aid packages currently tied up on Capitol. Hill. But it seems like a pretty clear message that the Fed feels more federal aid is needed. Absolutely. I mean I think that when the economy is bad obviously right now you know there's a public health crisis. It's pretty clear the reasons for that but still to some extent I think we've seen. In past crises historically when things are not going while the Fed tends to get blamed and I'm not saying the federal Powell's comments are politically driven but I think he wants to remind people that that look. Yes. There's only so much. We can do I think there's pressure on the on the Fed there's always pressure on them when the economy is struggling to do more and and I think that smart of him to just remind people that there's another big player in economic policy and that in that if they're concerned enough people on the hill are concern especially about the direction of the economy. Then really they're the ones who also have to play a bigger role. If they want the Fed to do more, they're probably going to do need to do more as well.
A conversation about Mulan
"Low, and welcome to another edition of they call us Bruce unfiltered conversation about what's happening in Asia America I'm bill you and I'm Jeff Yang and this will indeed be an unfiltered podcast. It is one which we are going to used to. You know spend talking about something that we've been wanting to talk about for a while waiting to see for awhile, and that is Disney's live. On which released this weekend right before Labor Day and immediately generated quite a lot of opinions some of which we have. And we have guests, schools, opinions in some of them our guests We've seen quite a lot of in somewhere new. Who have with us? Phil? We have making her third appearance on they call US Bruce. Quite possibly a record. Record record. Our good friend formerly journalists of the with the Hollywood reporter most recently, she did a profile of Tima in Vanity Fair. Are Powell Rebecca Son Rebecca. Welcome. Thank you. I'm here to reinforce and ensure that my title as most frequent they call us first guest. On. Challenged. Bring honor to us all. We also have a first timer on the show hopefully, not the last frankie. Hong who is a freelance writer and illustrator and Frankie also grew up until age nine in China and has a pretty solid grasp. I think of some of the larger context around the film both as somebody personally in in more immerse perhaps in Chinese culture than those who grew up here but also just from being able to read and understand the conversations that are going on in. Chinese about this. Conversation's. Break Welcome, to the show. Thank you for having me. So excited to chat with you about this. Well, the conversation has been proceeding Apace has a not I mean literally the show. The movie itself debuted Friday, and I think that's we don't have any metrics yet that feels like a lot of people in have been streaming it despite the way that it's being presented and I mean, maybe that's the first thing to talk about a little bit like. The film. You know how the film has changed over time how it was what was meant to be in where it is now today in this time of Of Covert in quarantine in theaters basically being shot I think I wanted to ask if maybe everybody could share their relationship with the original film because that's that will serve you know color a lot of people's. The way they perceive this this new one right. Rebecca. What was it like watching the original Milan and how did that impact actually shape? This one for you. Yeah. Well, for me, I you know sort of your classic ABC asian-american Crawl one in the bay area you know live here lived in America, my whole life, and so I was I'm looking this up now and I was actually not cured with anime tomatoes teenagers. So I think I was sixteen when I came out Even, though I was no longer a small child I, what I remember most palpably was bursting into tears at the end of the animated film when Milan she's at the Forbidden City and she turns around and it feels like the entire country is kneeling and bowing and Reverend before her and the swell like I remember for years after that, like you know even without we watching the film just thinking about that moment. Just swallow emotion. Kind of being unprepared to see that image of of somebody who representative you know about as exactly. Who I was, you know just a small Chinese girl could be treated with such respect and honor. Listen. you know and reverence that was so moving. So that's what I remember most about you know the animated law and I think the way that made me feel is is sort of what I treasured about that movie even though it was, you know I haven't seen it in such such a long time.
"j. powell" Discussed on GONE
"<Music> <Music> <Music> <Music> <Music> <Music> Thanks <Speech_Music_Female> <Advertisement> again for tuning <Speech_Music_Female> <Advertisement> into gone. <Speech_Music_Female> <Advertisement> We'll be back <Speech_Music_Female> <Advertisement> next week. Was <Speech_Music_Female> <Advertisement> a short gone. <Speech_Music_Female> <Advertisement> Bide on spotify <Speech_Music_Female> and <Speech_Music_Male> back everywhere <SpeakerChange> else <Speech_Music_Male> the week after <Speech_Music_Male> you can <Speech_Male> <Advertisement> find more episodes <Speech_Music_Male> <Advertisement> of gone and all <Speech_Music_Male> <Advertisement> other park has <Speech_Music_Male> <Advertisement> two originals <SpeakerChange> for <Speech_Music_Male> <Advertisement> free on spotify. <Speech_Music_Female> <Advertisement> Not only <Speech_Music_Female> <Advertisement> the spotify <Speech_Music_Female> <Advertisement> already. Have all <Speech_Music_Female> <Advertisement> of your favorite music <Speech_Music_Female> <Advertisement> but now <Speech_Music_Female> <Advertisement> spotify <Speech_Music_Female> <Advertisement> is making it easy <Speech_Music_Female> <Advertisement> for you to enjoy. <Speech_Music_Female> <Advertisement> All of your favorite <Speech_Music_Female> <Advertisement> podcast originals. <Speech_Music_Female> <Advertisement> Like gone <Speech_Music_Female> <Advertisement> for free <Speech_Music_Female> <Advertisement> from your phone. <Speech_Music_Male> <SpeakerChange> Desktop <Speech_Music_Male> or smart speaker <Speech_Music_Male> to stream <Speech_Music_Male> gone on spotify. <Speech_Music_Male> <Advertisement> Just <Speech_Music_Male> <Advertisement> open the APP and type <Speech_Music_Male> <Advertisement> <SpeakerChange> in the search <Speech_Music_Female> <Advertisement> bar <Speech_Music_Female> <Advertisement> and don't forget to <Speech_Music_Female> <Advertisement> follow us on facebook <Speech_Music_Female> <Advertisement> and Instagram <Speech_Music_Female> <Advertisement> at podcast <Speech_Music_Female> <Advertisement> and twitter <Speech_Music_Female> <Advertisement> at broadcast <Speech_Music_Male> <Advertisement> network. <SpeakerChange> <Speech_Music_Male> <Advertisement> We'll see next time. <Speech_Music_Male> <Advertisement> Just because <Speech_Music_Male> <Advertisement> it's gone <Speech_Music_Male> <Advertisement> doesn't mean it <Speech_Music_Male> <Advertisement> can't <SpeakerChange> be found <Speech_Music_Female> <Advertisement> <Speech_Music_Female> <Advertisement> gone was created <Speech_Music_Female> <Advertisement> by Max Cutler. <Speech_Music_Female> <Advertisement> In his parking <Speech_Music_Female> <Advertisement> studios original <Speech_Music_Female> <Advertisement> executive <Speech_Female> <Advertisement> producers <Speech_Music_Female> <Advertisement> include Max <Speech_Music_Male> <Advertisement> and Ron Cutler <Speech_Music_Male> <Advertisement> sound designed <Speech_Female> <Advertisement> by Scott Stronach <Speech_Female> <Advertisement> with production <Speech_Male> <Advertisement> assistance by <Speech_Male> Ron Shapiro <Speech_Music_Female> Carly Madden and <Speech_Female> <Advertisement> Travis Clark. <Speech_Music_Female> <Advertisement> This episode <Speech_Female> <Advertisement> of Gone <Speech_Music_Male> <Advertisement> was written by Robert <Speech_Music_Female> <Advertisement> Tyler Walker <Speech_Female> <Advertisement> with writing <Speech_Female> <Advertisement> assistance by Maggie <Speech_Female> <Advertisement> Admire <Speech_Music_Female> <Advertisement> and stars Molly <Speech_Music_Female> <Advertisement> Brandenburg and <Music> <Advertisement> Richard. Rosner <Music> <Advertisement> <Speech_Music_Female> <Advertisement> <Silence> <Advertisement> <Music> <Advertisement> <SpeakerChange> <Speech_Music_Male> <Advertisement> <Speech_Music_Male> <Speech_Female> remember. You <Speech_Female> can find new paths <Speech_Female> to positively <Speech_Music_Female> every day of the <Speech_Music_Female> year. Follow <Speech_Female> daily quote <Speech_Female> three on spotify <Speech_Female> or wherever. You get your podcast.
"j. powell" Discussed on GONE
"Steve said that Susan had run away to be with another man named Stephen. Coacher coacher was a thirty year old from Saint George a town in southwest Utah. They claim that he'd gone missing around the same time as Susan. Steve and Josh had Susan's diaries and claim that this wasn't the first time she lusted. After another man. In fact they said that Susan and coacher had been entangled in extramarital affair. Supposedly Susan had left to right after Josh wink camping with the boys she met up with coacher and they flew away together to Brazil coach. I was familiar with the country since he served as mission there the were shocking and completely out of character for Susan. It's nearly impossible to analyze this theory. Josh didn't offer any evidence to suggest that Susan had ever even met Stephen Coacher. In fact phone records showed that there was never any contact between the two of them coach. You're also had gone missing on December thirteenth. Two thousand nine almost a full week after Susan on top of that while he was from Utah. He'd gone missing in Henderson. Nevada local security cameras captured the last time. Coacher was seen the video showed him walking down a cul de sac in Nevada alone too many including Susan's parents. It seemed Josh was using this alleged affair to deflect attention away from himself and he'd only want to create red herrings because he was responsible for Susan's disappearance Susan's family and the local authorities long suspected that he'd murdered his wife. Even Susan herself testified to that possibility after her disappearance. The police located her safety deposit. Box the one. She told her co worker about inside was a videotape and a handwritten letter in the letter. She wrote her marital problems with Josh. And how she feared for her life if anything happened to her. She insisted that it would be Joshua's fault of you of her friends told authorities that before she vanished. Susan had given Josh an ultimatum. If they didn't fix their marriage she'd leave with the boys in the spring. Allegedly Josh couldn't deal with that possibility. Instead he killed Susan and left her body somewhere out in the Utah Desert. The evidence seemed to support this theory. A lab confirmed that the blood found on the homes wall was Susan's police. Also discovered that Josh had cashed out Susan's retirement fund and had placed a one point five million dollar life insurance policy on her where he was the sole beneficiary. However all of this still wasn't enough to charge Josh. Police didn't have a weapon. Or even any conclusive evidence that Susan was dead. The best lead they had was the blood but Susan have lived in her home for years. It wasn't unheard of for a trace amount of blood to have been splattered on the wall after a minor cut and with two small children spills on the carpet and couch were par for the course. Answers were allusive for detective. Maxwell and the West Valley Police Department with Josh. Out of the State. It was even harder to conduct an investigation. As the years passed they were unable to Locate Susan. Alive or dead since they couldn't find her. It was impossible to tie any evidence back to Josh. Coacher or anyone else but the PAO family saga was far from over in September. Two Thousand Eleven Police in Utah uncovered a suspected burial site in the middle of the desert officials in Washington rated Steve Pals home. He had a strong alibi for the night of her disappearance but they hope they'd find some kind of evidence awesomely. Something Josh had brought with him when he moved from Utah Instead. They found countless hard drives full of elicit videos and images many involve minors in some have been recorded by Steve. The police also found old videos of Steve Stocking Susan without her knowledge on September. Twenty Third Two Thousand Eleven Steve Powell was arrested on charges of child pornography and voyeurism. Nothing they found in Steve's home could be used to explain Susan's case and the search in the desert also turned up. Nothing but josh still felt the heat. The media attention in both states was back on the Powell family. Additionally Steve was no longer allowed to live with minors which meant Josh and his two sons needed to move. Josh claimed that he'd found a place to live but the court soon figured out that he was lying he was still residing with his dad. Custody was handed over to Susan's parents. Chuck and Judy. But Josh wasn't going to take the ruling lying down he went to the courts to fight to get his kids back after all. He hadn't been convicted of a crime and the government. Just take his sons away. The judge ordered Josh to go get psychological evaluations to see if he was fit to be the boy's guardian. In the meantime he was given supervised visitation rights. Josh hated that his boys weren't with him full time but he always treasured the hours they spent together. He settled into his new normal as best he could and he continued to resist the police's efforts to find Susan. By the time February. Two thousand twelve game around. She'd been gone for over two years and the case was cold. Authorities had discussed charging Josh for the crime but they couldn't find any substantial evidence to ensure conviction. They were helpless however they didn't let Josh note this publicly. He was still a person of interest and with more searches in the desert planned. They wanted Josh to sweat. He professed his innocence to anyone who asked he told them all he wanted to do was move on with his life so that he could raise his boys right. He was convinced that his sons were being corrupted into thinking he was a monster he couldn't bear to see them turned against him and to dark plan began to form well. Josh never admitted to any wrongdoing and Susan's disappearance his actions on February fifth. Two Thousand Twelve painted a grim picture of what he was capable of that morning. A social worker pulled up to Joshua's newly rented house for a supervised visit Charlie in Brayden. We're looking forward to spending time with their dad. As the car came to a stop they bounded out ahead of the social worker. She ambled up behind. The Ms Josh stood in the entrance. The two boys ran inside but before she could get there. The door slammed shut. It was locked she naught but Josh didn't open up. She immediately called nine. One one minutes later Josh's lawyer received an email with no subject line from Josh. The message was short. I'm sorry goodbye outside of his house. The social worker was frantic. She didn't know what Josh was planning on what he was capable love. No one was there to help and they wouldn't be for several minutes a moment later there was a violent blast and the house was engulfed in flames. It had blown up by the time the authorities arrived. The inferno was raging. Nothing to be done once. The fire was extinguished. Investigators surveyed the home. The bodies of Josh and his boys were found in the rubble. He'd intentionally set the fire and had attacked his two sons with a hatchet before the fumes got to them. The thin veil of presumed innocence could no longer protect him. The young family whose future had once seemed so bright came to an end. Because of Josh Powell given Josh's murderer of his children it seems almost like a foregone conclusion. That Josh had a hand in Susan's disappearance. His accounts of the night in questions seem incredibly suspect in his actions. Two years later proved that he was capable. But there's still no hard evidence to prove Josh Killed Susan or even that she's dead to this day. Susan Powell remains a missing person. No one has ever been charged with her disappearance..
"j. powell" Discussed on GONE
"j. powell" Discussed on GONE
"By two thousand eight their relationship wasn't shambles. She became increasingly worried that he would do something rash but she stuck with him because of her unwavering Mormon faith in the LDS church. A marriage is eternal and unbreakable even if the couple legally divorces God put Josh in her life for a reason and she wanted her kids to have a conventional family and either way she couldn't just leave. She knew Josh would do anything to keep the boys with him. She didn't seriously think he'd ever hurt his sons but she wasn't sure he'd be so protective of her. Just in case in two thousand eight she wrote a letter and put it in a safety deposit box. She told her co worker that if anything happened to her even if it looked like it was an accident. Josh had probably done something she told them the letter would explain everything. Eighteen months later she vanished coming up the day Susan disappeared. Hi It's molly. I'm so excited for you to check out the new podcast original series daily quote. If you haven't had a chance to hear it yet daily quote is two to three minute. Podcast meant to inspire uplift and motivate your day every day hosted by the extremely talented Cape Leonard daily quote not only shares a meaningful quote from history but also gives you the context in meaning behind it and right now. I'm thrilled to be able to share today's quote with you. It's by the American poet singer and civil rights activists my Angelo. If you enjoy this episode make sure to follow daily quote free on spotify or wherever you get your podcasts..
"j. powell" Discussed on GONE
"Due to the graphic nature of this episode listener discretion is advised. This episode includes discussions of emotional abuse child pornography and murder that some people may find offensive. We advise extreme caution for children under thirteen on December. Sixth two thousand nine snow fell lightly on the roof of Susan and Josh Powell's home in suburban West Valley City Utah just eleven miles outside of Salt Lake City. Twenty eight year old. Susan was exhausted or two. Young boys were running around the house and she was struggling to keep up. His wasn't the life she dreamed of but it was the one she had. Susan had spent the last few hours knitting blankets for her two sons. The one for her oldest Charlie had come out fine but the other for two year. Old Brayden was a disaster. Luckily she knew the perfect person to call for how it was early evening. When her friend? Giovanna owings came over. Susan wasn't feeling well and appreciated Giovanna 's willingness to help out as they make progress on the blanket Susan's husband. Josh went into the kitchen to prepare dinner when they all sat down to eat. Giovanna thought it was sweet. That Josh Served Susan her food first but she could tell. There was some tension. Nevertheless she held her tongue. Susan's marriage was none of her business. After dinner they kept working on the blanket but Susan was getting more tired with each passing minute soon. She excused herself claiming she felt tired and was going to lie down. Giovanna stayed help finish the blanket but at five thirty PM. Josh said he and the kids were going out sledding. She took it as her cue to leave and glanced back toward the bedroom. She hoped Susan would feel better soon. But that wouldn't be the case by the next morning the entire family was missing and Susan would never be found..
"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
"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 10 10 WINS
"The J. J. Powell appears before a house panel today news time two oh one reading friends with Russ Meyer and I'm gonna crash on the side of it happens on the northbound side of the FDR drive a little north of ninety six street right and center lanes are closed off it is only the left lane squeezing on through and we have a delay starting to kick in on down towards just past ninety six straight now also what we have got the go honest in the B. Q. we in good shape we do however have some real work to watch out for west bound just off the of Grand Central gonna have the right lane closed often again about the Williamsburg bridge on the belt parkway is doing alright we'll head east and here is what we see on long island's big three everything good on the ally E. northern state and southern state parkway is in good shape also watch for work at the Opry stripper here is what you need to know about the bridges and tunnels it got that repairs going on to the queen's bounce out of the white stone bridge one lane is closed down Throggs neck is quiet so the RK bridge alternate side parking rules are in effect for today the support is sponsored by the exit into several scanner the monitor the number one flu or other virus symptom is fever so use a thermometer proven accurate by more than eighty clinical studies we can't always predict the flu season but we can always prepare for it with the accident temporal scanner visit actor did not calm dropping dreaded every ten minutes on the ones breaking traffic alerts whenever they happen I'm Russ Meyer on Dan Dan wins wins news time to to a late afternoon water main break flooded cars install traffic on South Street nearer Catherine's slip the Smith houses in temporary water outages tonight but the DP says things should be normal later this morning holding in his car on South Street near Catherine slipped Bernie Dino crew stop like everyone else when the water started to gush up out of the street so much water coming out of five forty one the calls are all the calls started moving of the water was they've come up the evening rush hour water main break flooded dozens of cars to varying degrees Pedro and this car started to flow down South Street no it was in the water in the middle there we're in the middle of the middle going to still under water than it does me as cars still runs but the carpet in seats are soaked in the electronics seem a bit wonky al Jones ten ten wins at the South Street water main break in lower Manhattan when the news time two of three Xander echo.
"j. powell" Discussed on NewsRadio 1080 KRLD
"J. Powell's press conference afterward on Wednesday stock futures slightly lower this morning Dow futures down twenty four Gina survey the Bloomberg radio coming up we've got your traffic and weather together on the aid some road work causing some back up sets in three minutes holiday tips and fun facts from Paul Kristen indexer total anymore there somethin Salvatori about bubbles are ridiculous selection of champagne and sparkling wines will make the holidays part use a friendly white elf I can help you find the perfect bottle at just the right price deep frying a Turkey this year a rich and earthy chateau enough to pop would make an interesting pairing whether you're detaining or just bring the wine we'd love to share our always low prices are ridiculous selection with you this holiday now offering same day delivery at total wine dot com cheers this is Carol the meteorologist Dave burn off with another edition of weather safety you know it's very important to be weather ready anytime of year here across North Texas as you know severe weather can happen at a moment's notice be sure to check the forecast regular hearing care LD but also have a family plan in practice that plan this plan should include an emergency meeting place and other related information also be sure to pick a safe room in your home such as a basement storm shelter board interior room or closet on the lowest floor with no windows and then practice your plan conducted fairly severe thunderstorm Joe regularly so everyone knows what to do have damaging winds large hail or even the tornado approaches also make sure all family members know to go there with a severe thunderstorm or tornado warning is issued don't forget the paths of time allows after the storms pass you can also help your neighbor you could take a CPR class so you can help that someone has hurt during severe weather weather severe weather in North Texas I'll help keep you informed around the clock on newsradio ten eighty KRLD his albums of all time prince released in October nineteen eighty dirty mind is princes third studio album the album was produced arranged and composed almost entirely by prince from his home studio in Minneapolis critics said that his first two albums established him as a romantic but this album was much more sexy even feel free nonetheless the album was listed as not only one of the best albums of the eighties by various publications but many also listed as one of the greatest albums of all time the holiday season and radio dot coms gift to you with a host of holiday music to keep your spirits bright choose from three different holiday music channels Christmas classics playing all your favorite timeless holiday music pop goes Christmas with holiday music from today's biggest pop stars and country five Christmas with the country take on Christmas music on rap the radio dot com app in search of Christmas to enjoy all the holiday festivities happy holidays from radio dot com this is Kelly chief meteorologist neighborhood off helping you be prepared in the event of severe weather in North Texas what is the difference between a watch and a warning wanna watch means conditions are favorable for storm or toward attic development within a few hours usually has an expiration time a severe thunderstorm or tornado warning means things are happening right now find safe shelter immediately listen to us live on your radio dot com out and stay in your shelters until you get the all clear weather severe weather in North Texas all be here to keep you informed on news radio ten eighty KRLD coming up on J. R. LD the death toll is rising approval Kentucky rupture in New Zealand we'll have that for you straight ahead traffic and weather together on the aids.
"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.
"j. powell" Discussed on Slate Money
"So I think we should start with the feds. We have the jobs report this morning. Every so often, we should do this. What is this a finance markets? I mean, the feds conversations just like are they going to raise the rates? Are they going to lower the rates? Other going to they might lower the rates. That's the current buzz about the fed their meeting soon, and they might lower the rates after they raise the rates. Trump didn't like them raising the rates. And now incident they might lower. They're not loyal to Trump is helping the economy, kind of slowdown. That's my take away. And that's every fed story. And I'm sorry. I know it's heresy, but I don't care that it's more interesting than I think there's a couple of things going on hit first thing on Friday. We had this jobs reports very disappointing. It was a low number for the number of jobs created in may. But also, but also what happened is they revised down the numbers, April, and much right? And so what that means is. It's just a Taras, because the terrorists, cutting in much does like a this evidence of a broader slowdown, okay? And so and the other thing that happened to the wage growth started slowing down as well. And so. There's really no conceivable reason why you would feel the need to raise rates in this kind of environment what we had for a while. That was single that tightening cycle where the fed would raise rates by, like a quarter point every other meeting, and they were just sort of like they'd be on this plan, and then Jay palce of took them off the plan. He's like, well, why are we doing this? Why don't we wait to see some data and then react to the data as emerges, rather than just setting ourselves on a course in, you know, sticking a fingers in our ears and hands over our and just like raising rates, you know, oblivious to the broader context, and so now the days scenes with arrived, but I think that what they were doing earlier was also data driven. I think that, unfortunately J Powell has not done a great job of communication as we saw, particularly at the end of last year. And I think towards the end of last year, there was this idea that the fed was going to be much more. Hawkish than the market thought the numbers bore out. And now that is definitely changed because the data has changed. But I, I wanna I wanna push back a little bit on this whole communication thing because this is actually what I'm going to be writing about in my axios edge newsletter this week. Exclusive preview we had basically I wanna say from twenty eleven onwards, we had this fed mostly banenky and a little bit and Yellen, which we really into telling the market's quite clearly, what the fed was going to do in the future. And that was actually really useful after the financial crisis because especially when rates with zero you can't just keeping rates zero. If you wanna do more than that, what more can you do you can do your.
"j. powell" Discussed on Marketplace All-in-One
"Tomorrow head to planet m dot com today planet m were big ideas and mobility are born this is marketplace i'm kai ryssdal we're going to go back to the j powell well one last time today for some of the less policy specific but still really tangible parts of first of all him getting the job but also him doing the job in two thousand eighteen here you go when you got this job much was made of the fact that you're not an academic communist you come from from the law from banking from private equity how does that affect how you do your job well i'd start by saying that i did join as i mentioned i've been here for more than six years now so i've had an awful lot of time to learn the economics and find it really interesting and i've worked hard at that so and there are a lot of economists here so you know you've got the academic support right but yeah as as you go about your day to day how does that influence how you think about this i mean i'm sure you saw the reuters story about your calendar how you've you meet more with with bankers lawmakers than other chairs have more with the communists how does who jay powell is affect how does this job is the question you know it's a hard question for me to answer about myself i do you know i i would say as far as meeting with congress concerned i'm going to wear the carpets of capitol hill out by walking those halls and meeting with members i feel like that's a that's a really important thing that that share can do which is in part of what i want to accomplish with clarity and explanation at transparency i wanna push really hard on that and i went i want them to think that we're responsive to their concerns in their thoughts and that we're here to to be as clear as we possibly can there's a question that has passed you're actually a couple of about the political environment in which this economy operates right now granting that the fed has always been a source of political frustration for many in the executive branch it's worth pointing out here that larry cudlow the chairman the president's national economic council and the president himself have said they are low interest rate guys larry cudlow encourages the fed to move very slowly on interest rates on the theory that rising interest rates would be tricky thing for the president politically do you think it's appropriate for the white house to be not telling the fed what to do but saying these things in public let me just say i'm not concerned about it and i'll tell you why we have a long tradition here of conducting policy in a particular way and that way is independent of all political concerns we do a working in a strictly non political way based on detailed analysis which we put on the record transparently and we don't consider political consideration we don't take political considerations into account i i would add those that no one in the administration has said anything to me that really gives me concern on this front but this is this is deep in our dna for you know for a long long time the fed has felt it important to conduct our business that way i'm deeply committed to that approach and so are all of my colleagues here which i understand but you're also humans and when the white house leans on you you must feel it again nothing nothing has been said to me publicly or privately that gives me any concern about our independence circling back to where we started just as way to wrap this up you are taking great pains to make what the federal reserve does more transparent and in a way the economy more transparent and more understandable to the people living in it the prison the united states tends to politicize the economy he says things that are not always entirely accurate about the economy i wonder how that complicates your job yeah i'm so i had a great colleague and mentor beckon a day who used to bring meetings into focus by saying let's control the controllable so but we control of what we do what we do and i told you what we do we're always going to do that's who we are it's always who we're going to be we're we're going to we're going to do our business in a way that strictly nonpolitical without taking political issues into consideration and.
"j. powell" Discussed on WCBS-FM 101.1
"Powell gene then three the name no they invade yes no no bill the iver.