20 Burst results for "Joint Economic Committee"

"joint economic committee" Discussed on WCBS Newsradio 880

WCBS Newsradio 880

02:01 min | 7 months ago

"joint economic committee" Discussed on WCBS Newsradio 880

"Of rainfall, certainly very trach dependent. So again, keeping a close eye on that temperatures for Tuesday in the lower eighties, right now, 79 degrees and bridge for 80 for an Elmhurst we have 79 in Midtown. I'll go down tonight to alot of 70 Linda WCBS news time is 7 50 You're listening to the 80 weekly rewind A look at the top stories of the week, digging into important issues in our community with Lynda Lopez. Well, it's like that old joke how that is the economy. It's pretty bad. It was announced this week that the second quarter GDP dropped 32.9%. That's the worst three month period on record. The pandemic shutdown has left budgets in tatters and local government leaders scrambling and urging the federal government to give some federal help. Here's New York's governor Andrew Cuomo, the state budget is purely going to be a function of what we get from Washington. We have a $61 billion deficit. I can't make up $61 billion it's going to be purely a function of what happens in Washington. We've never been here before. It's a larger budget hole than this state has ever faced in New York City. It's eerily reminiscent of 1975 when the city on the brink of collapse needed to go begging to Washington, D. C for help. New York's mayor Abraham Beame, led a delegation of fellow mayors to Washington today seeking federal financial aid for New York 15 mayors most from Big cities, appeal to the Congressional Joint Economic Committee today for some federal emergency help for New York City, arguing that the New York default would hurt every other city in the country by making it impossible for other cities to borrow money. And it's the federal government does not help us. I think it will find the problem afterwards, which it would have to help us with much more serious. The mayor's asked for federal guarantees for New York City bonds and notes and, if necessary, emergency.

New York City federal government Washington Elmhurst Lynda Lopez Andrew Cuomo Midtown Linda WCBS Abraham Beame Congressional Joint Economic C
"joint economic committee" Discussed on Marketplace with Kai Ryssdal

Marketplace with Kai Ryssdal

05:00 min | 1 year ago

"joint economic committee" Discussed on Marketplace with Kai Ryssdal

"In Los Angeles. I'm Kai Ryssdal Wednesday today. The thirteen th day of November. Good to have you along everybody. Yes find fine impeachment hearings. I watched him too. But I also did a little split-screen action for a couple of hours because a funny thing happened on the way to J. Powell's testimony today yes that Jay PAL chairman of the Federal Reserve and Chief Custodian of this country's monetary policy interest rates is what that means and Paul all has said more than once that the Fed is going to keep interest rates where they need to be to keep the economy growing. But here's what I said to the Joint Economic Committee. On Capitol Hill this morning in a downturn it would also be important for fiscal policy to support the economy in other words taxing and spending the stuff that Congress and the president do however as noted in the Congressional Budget. Office's recent long term budget outlook the federal budget is on an unsustainable path with high and rising debt twenty three trillion dollars of debt and and counting as of today over time. This outlook could restrain fiscal policy makers willingness or ability to support economic activity during a downturn. So with all of that said we as marketplace's Mitchell Hartman to mind meld with the Fed Chair and figure out what he means. The Fed chair doesn't seem too worried that in economic economic downturns around the corner the recent TRIFECTA of rate cuts probably help prevent that Powell's warning Congress about the future recession. It's almost certain into com. Says Eugene Stu early at the Urban Brookings Tax Policy Center because interest rates are fairly low. They have extremely limited capabilities. He's in monetary policy monetary policy. That would be lowering interest rates to try and revive the economy instead Powell's telling Lawmakers Vale you'll have to do most of the heavy lifting next time through fiscal policy boosting government spending cutting taxes. But we've already done a lot of that says. Mit Finance Professor Deborah Lucas. The administration has been deficit spending at levels that you would expect during a recession not during the expansion like we've had so the Fed chair sounding an alarm where at very high deficit and debt levels. So we'll the government really be able to do much much next time around to pull the economy out. It's a significant message. But it's a message that the head of the Fed is always trying trying to deliver University of Chicago. Economists Austin Goolsbee Says Powell is saying the feds run out of economic AMMO SO congress needs to start saving in for a rainy day at the moment congress is scrambling to pass yet another temporary spending bill with no plans for significant deficit or debt reduction. Dan I'm Mitchell Hartman for marketplace as Mitchell was saying those fiscal policy makers need to agree on a new government spending bill by November. The twenty first. Check your calendars. That's really soon good thing. There's nothing else on the agenda All right elsewhere in Washington a couple of new reports digging into the tax code you know when the taxman cometh. Ideally it doesn't matter so much who you are but how much money you have in how you get it. Tax Reality of course is a whole another thing altogether marketplace's implicit Kimberly Adams. Has that one when you fill out your tax return. You don't write down your race or gender so mark Maser at the Urban Brookings Tax Policy Center says you're on the face of it. The TECH SYSTEM IS GENDER neutral racially neutral but that doesn't mean certain tax rules don't benefit men over women. The the National Women's law center has a series of reports out today on some of the specific ways this plays out like in workplace injury payouts. If it's a physical injury injury you have workmen's compensation that's not taxed that's primarily claimed by men Melissa Bhatia Co authored two of those reports if you have for example discrimination or a sexual harassment claim which is primarily claimed by women people of color people with disabilities that is taxed and the way people earned their income can also exacerbate racial and gender divides in how they are taxed Samantha. Jacoby is with the Center on budget and policy priorities and Co authored. Another report out today revealing how the tax code big surprise favors the wealthy who are mostly white men. People who own particular types of assets such as stock such says real estate people who receive lots of income from inheritances also are more favorably treated under the current tax system than people who earn their income from wages ages and salaries. There are some parts of the tax code that skew heavily towards benefiting women and people of Color like the earned income tax credit but advocates argue. The the tax code still has a lot of catching up to do in Washington. I'm Kimberly Adams for Marketplace Wall Street on this Wednesday a little bit up a little bit down. We'll have the details details when we do the numbers..

Urban Brookings Tax Policy Cen Fed J. Powell Congress Mitchell Hartman National Women Kimberly Adams Eugene Stu Kai Ryssdal Los Angeles Joint Economic Committee Melissa Bhatia Co Washington Austin Goolsbee University of Chicago
Fed chief Jerome Powell hints to Congress: No more rate cuts this year

WSJ What's News

00:36 sec | 1 year ago

Fed chief Jerome Powell hints to Congress: No more rate cuts this year

"Federal Reserve chairman. Airman Jerome Powell was also on Capitol Hill today for the first of two appearances before Congress. This week Powell told members of the Joint Economic Committee that the Fed sees little need for further either interest rate cuts at this time we see the current stance of monetary policy as likely to remain appropriate as long as incoming information about the economy remains broadly consistent with our outlook of moderate growth strong labor market and inflation near symmetric. Two percent objective to fed had signaled to pause and rate cuts at its last meeting after undercutting rates. Three times this year Powell testifies before the House Budget Committee on Thursday

Jerome Powell FED House Budget Committee Joint Economic Committee Chairman Congress Two Percent
"joint economic committee" Discussed on Wall Street Breakfast

Wall Street Breakfast

01:50 min | 1 year ago

"joint economic committee" Discussed on Wall Street Breakfast

"This time from Federal Reserve Chairman Jerome Powell who will speak to the Congressional Joint Economic Committee about the current economic outlook. The last time we heard from Powell the Fed ed cut interest rates for the third time this year and he signaled that moves to ease. Monetary policy could be nearing a pause. Dow Futures are off one hundred thirteen points ahead of the eleven. Am Am testimony. On the data. Front there will be closely watched. CPI numbers this morning that they are not expected to show inflation rising enough to change the feds outlook in other news investors on Tuesday. We're focused on comments from president trump. Who spoke at the Economic Club of New York but didn't deliver any specifics? Civics on trade developments trump soda significant phase. One trade deal could happen soon but reiterated that the US will substantially raise tariffs on Chinese goods. If no deal is struck between the countries he also criticised EU trade policies before a deadline tomorrow to decide on whether to raise tariffs on European and Japanese carmakers just weeks after beginning. Production of cars in China Tesla has announced the location of its second factory outside the USA. Berlin Germany the location occasion to be named gigafactory. Four will bill batteries powertrains. NBA Finals starting with the model. Y watching the news closely as Volkswagen as the new facility will be built in the automakers backyard. The German group previously announced plans to invest thirty billion euros to electrify its dire product lineup over the next four years Hong Kong Exchanges and clearing has reportedly approved a secondary listing for Alibaba in the city share sale. That could raise ten to fifteen billion dollars a week. Long road show may begin as soon as this week with pricing and the start of trading in the weeks after that Alibaba reported forty percent rise in quarterly sales earlier this month and and on Monday set another record for its.

Jerome Powell Alibaba Congressional Joint Economic C Economic Club of New York Federal Reserve Dow Futures Hong Kong Exchanges Chairman US Volkswagen NBA China Tesla president EU USA. Berlin Germany fifteen billion dollars forty percent four years
Fed's Powell testifies before joint economic committee

WSJ What's News

01:12 min | 1 year ago

Fed's Powell testifies before joint economic committee

"Chair. Jerome Powell is in the hot seat. He'll be testifying about the nation's economic outlook and is likely to to be pressed on the feds signal that it's causing further rate cuts this year. Powell appears before the Joint Economic Committee for the First Time Today. Our Nick. Tim Rose has more Powell's testimony is still important to the economy and he goes up to Capitol Hill every few months and it's been interesting to watch his reception on Capitol Hill this year because he has been the subject of so much criticism from president trump. The president in a speech in New York on Tuesday again attacked the the Federal Reserve. And so it's interesting to see how Congress and how members of Congress what kind of deference they might show to a fed leader. Who's been under really kind of unprecedented piercing criticism from the president? Who appointed him to the job? The Fed sees itself as something that was created by Congress so often says congresses the boss and it'll be interesting to see how that dynamic especially with Republicans unfolds between between the Fed Chair and the members of Congress Powell testifies before the House Budget Committee tomorrow.

Congress Powell Congress Fed Chair Federal Reserve Joint Economic Committee President Trump House Budget Committee Tim Rose New York
Fed chief Jerome Powell: Economic outlook remains "favorable"

Steve Cochran

00:08 sec | 1 year ago

Fed chief Jerome Powell: Economic outlook remains "favorable"

"Additionally federal reserve chairman Jerome Powell reports to Congress today how will testify before the joint economic committee at ten o'clock Chicago

Jerome Powell Congress Chicago Chairman
"joint economic committee" Discussed on Economic Explainer with the Joint Economic Committee Democrats

Economic Explainer with the Joint Economic Committee Democrats

06:16 min | 1 year ago

"joint economic committee" Discussed on Economic Explainer with the Joint Economic Committee Democrats

"About they can wait and they can come up with all sorts of fascinating things mazing things that no one's ever thought of before but it all has to come back to an accurate count of the actual population if you're ever going to make anything things statistically representative if your sample of the population is ever actually going to be accurate the art and science of getting a complete inaccurate population count has not advanced to the point where you can rely solely on people's records to get an accurate count and a member of the censuses in the constitution and it's in there for one purpose which is to is to determine the population of every state so that it gets its fair share IRV representatives in the House and <hes> and by extension in the Electoral College. The addition of questions to the census was James Madison's idea in seventeen ninety so it's always been done but it was not the original purpose if one of the founding fathers I had this bright idea to amend the Census Act Seventeen Ninety say as long as we're asking as long as we're counting has why don't we ask people what they're if they're a man or woman or what their ages or what their occupation is and so so that's why all these extra data are in in the census <hes> and it comes back to the head count so there's no way that administrative records Kurds can do an accurate headcount right now and the question is what additional questions you want to add on the census itself like age sex race as well as on the American community survey about how the work and so forth that cannot be accessed by <hes> not existing records this census for the first time he right in two thousand ten about two thirds of people Hausa got a census form filled it out and send it back which means the census bureau had to worry about the other one third and and that's called non-response follow up and they send them a letter and they make a phone call and they eventually send someone to the door this time for the first time the Census Bureau is gonNA use administrative records Kurds as part of non-response follow up so there are using administrative records if someone doesn't fill out the form and they refused to talk to someone sends us now has the capability I looking at Howard now. Do you know what they're using. In terms of Admin records like drunk doc drivers records or I don't know specifically. It's a variety of different sources yeah but but the kind of fill in the blanks they know this person exists but maybe is the age on on the driver's license says the birthday is X. so that that's fine and this will be a work work in progress over the next few decades at least in our lifetimes. It's not going to replace it. You need to keep in mind as well just by the nature of our country administrative records or not the they're not going to be the end all be all. A do you have to have a certain balance in your country and you can't have you know or at least as yet we've not been able to figure out how to have a diverse and extremely extremely diverse and extremely free country that also has perfect administrative strata records yes and now I WANNA go back to that part of the U._S.. Code I mentioned earlier Congress told the Census Bureau and the Commerce Secretary use administrative records first before you ask questions. That's what the court says Secretary Ross violated so that's on the law. The idea is for Census and commerce always being look at for administrative records that allow them to not ask a question. <hes> you mentioned a couple of minutes ago <hes> some legislation way back in seventeen seventeen ninety on the census <hes> right now congresswoman Maloney has the vice chair of our committee has a bill called the census idea act which calls for three years of testing and research before any question could be added to the census. Does that seem. I'm like reasonable methodology. Do you think that would be <hes> a prudent way of going about things so the insights association was <hes> an endorser of endorsed the idea act <hes>. We think it's a good approach. Actually there've been there've been a variety media different kinds of bills on this issue and I think the congresswoman's is probably the best approach because there are a couple of others that just simply wanted to forbid the asking of US citizenship question forever which we don't agree with because what we wanted to ask next time you know and again it's and I think the census idea gets to the point of adequate testing. I don't know I don't pretend to know enough to be able to say what the right amount of testing and the right number of years of preparation is but I think that that's certainly on the right track and it sounds like like the way the Census Bureau would not to approach adding any kind of question so that's why yeah we endorsed it. I approve and I support the legislation and the legend of the fact that legislations needed indicates failure on the part of the commerce secretary to to adhere to the Census Bureau statistical quality guidelines to to adhere to own bees paperwork reduction at guidelines until end to adhere here to the National Academies Principles Practices the Federal Statistically sees all three call for extensive testing and clearly the <HES> secretary ignored all that so the only none of them are in law and the only recourse is to put that in law to ensure that <hes> testing happens the way it should have and that concludes the second episode of of the economic explainer with the J._C.. Democrats I'm Congresswoman Carolyn Maloney and today we talked about the importance of an accurate census. If the trump administration succeeds an adding us as ship question to the survey we will live with the fallout for a decade and if there is only one thing you take away from today's episode. I hope it's that incomplete count would hurt businesses and undermine..

Census Bureau Congresswoman Carolyn Maloney Secretary Ross James Madison representative IRV secretary US Howard National Academies Principles vice chair Congress three years
"joint economic committee" Discussed on Economic Explainer with the Joint Economic Committee Democrats

Economic Explainer with the Joint Economic Committee Democrats

02:26 min | 1 year ago

"joint economic committee" Discussed on Economic Explainer with the Joint Economic Committee Democrats

"We don't need to add the question to the census. The secretary overruled the chief scientists. The courts ruled that the secretary violated title thirteen section six because the secretary's choosing gene asked the question. Even though in the state of data already are available the third grounds that swim course looking at our constitutional grounds only two of the courts ruled on that than your case did not accept that as a grounds for the case but the Californian Maryland ruled that the commerce secretary violated the constitution because states have a constitutional right to actually have fair representation Tation in the House of Representatives and in the electoral college so they said that this edition of the citizenship question could skew apportionment and <hes> an electoral college votes because California <hes> and New York in particular could lose seats in the House of Representatives so to Howard's point they should if they do this right half to rule on each of these three laws one way or the other and. A- As a lay person just like Howard I don't see how they can rule against the lower court judges rulings about the E._p._a.. And <hes> entitled Thirteen sections six except that they just ignore it and come up with with their own reasons which would which would indicate that we have a problem with the integrity of our Supreme Court and that's the end of this economics explainer medicine. I'm Congresswoman Caroline and today we talked about some of the factors behind the Supreme Court's upcoming decision on the census. Here's the takeaway from the podcast. It is absolutely critical that the twenty twenty two Senio census be accurate and that the law constitution and Administrative Code Ba followed in conducting an undercounts effect on the census accuracy and by extension on the economy would be a disaster if you've enjoyed the podcast. We hope you'll subscribe on itunes. Google play stitcher or wherever you get your podcasts follow the Joint Economic Committee..

secretary Supreme Court House of Representatives Howard Congresswoman Caroline Google Joint Economic Committee Maryland gene California Tation New York
"joint economic committee" Discussed on Economic Explainer with the Joint Economic Committee Democrats

Economic Explainer with the Joint Economic Committee Democrats

03:25 min | 1 year ago

"joint economic committee" Discussed on Economic Explainer with the Joint Economic Committee Democrats

"Data Hearing Hi. I'm Rachel and I'm Randy immer from the J._C.. The staff and today we're here with Dr Andrew Ramer and Mister Howard Feinberg with a quick chat about how an upcoming Scottish ruling could affect the twenty twenty cents and our economy. Can you talk just briefly about the Supreme Court decision are are you optimistic. The thought the rule in the way that you want them to and where are they in this process right now <hes> based on the what I understand to be the questions that the conservative justices asked at at the April twenty third hearing it's not there questioning is not a cause for optimism <hes>. I'm not a Supreme Court expert. <hes> a lot of people are pessimistic. The hope comes down to John Roberts pulling a A._C._A.. In other words that Roberts was the key reason why obamacare lives because he voted with the Liberals and the hope is that he would do the same thing this time and and I think there's potential for Cavenaugh to do it as well but for the three justices hostesses as conservative justice. It seems like they're willing to do whatever Ross wants them to do and so I think the insight association daily filed an amicus brief in the case with a lot of other businesses we've really focused focused on the the ultimate impact on response rate and accuracy from the addition of the question but certainly just looking at it as the the bystander. I see a very clear line for the justices where they can say this was although the administration has pretty wide latitude as a constitutional matter in determining what's GonNa go on the census. They've also been given very clear guidance guidelines on what they're supposed to follow a process when it comes to setting up the census every ten years and they didn't follow that process so for pure process violations there is I see the armchair constitutional scholar here the receipt I put I put the constitutional concern us is and I'd say the process violations are enough. Enough that that should be able to provide an avenue for them to provide a prison produce a narrow ruling against the addition the three the Supreme Court is reviewing the results of three court cases that that all agree one in in New York one in California and one in in Maryland all three courts agreed that there were two violations of federal law by the Commerce Secretary the Administrative Procedure Act which is just Howard describe the process by which the census the Commerce Commerce secretary is supposed to go through before making a decision like adding citizenship question and all three courts ruled that he violated that he did not follow the process the second violation all three courts agreed on is <hes> <hes>. I'll just give you the the legal code is titled Thirteen Section Six which which says that the Census Congress told the Commerce Secretary the commerce sector that cannot add a question to the centennial census if the data are available through administrative records of the idea was not the burden households with questions for which the government can get the data from existing records. The memo that Chief Scientist at census sent to the commerce secretary. A year and a half ago said that we have the administrative records..

Supreme Court Mister Howard Feinberg John Roberts Commerce Commerce Dr Andrew Ramer Randy immer Rachel Ross Scientist Cavenaugh Maryland California New York ten years
"joint economic committee" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:33 min | 2 years ago

"joint economic committee" Discussed on Bloomberg Radio New York

"Kong, and Singapore is six thirty pm on the eastern seaboard of the United States. I'm Rishaad Salamat. And I'm Doug krizner at Bloomberg. Interactive brokers studio in New York at the top of the hour. We're going to get to the action up and running in Tokyo, and Seoul, Sydney is trading. And the ASX two hundred is down about six tenths of one percent. We had a rally in US stocks after that truce in the US China trade war that we were talking about earlier. We'll unpack markets more closely momentarily right now this hour's top business stories the Federal Reserve vice chairman, Richard Clarita is giving a bit of hope to investors worried about interest rate hikes. He tells us a disinflation is still a potential concern. Anyone hoping for much more insight from the fed on rate hikes may have to wait there. Gladys buzz fed chair drone pilots cancelled his planned Wednesday congressional testimony to the joint economic committee. And that's because of the national day of the mourning for the late President Bush pow did speak today. Saying that the strong economy has not yet reached all Americans well on the subject view as China trade. This truce is only a couple of days old and already we are seeing signs of wear. President. Trump tweeted overnight, China has agreed to reduce and remove the forty percent tariff. Beijing imposes on US made cars, however, no word from Beijing. Or president Xi on this? Meantime, US Treasury Secretary Steven Mnuchin saying they're working on it. And minutiae went on to say that there is other more concrete progress between the US and China and the very short term. There will.

United States China President Bush Richard Clarita Rishaad Salamat president Xi ASX Beijing Interactive brokers President Doug krizner Federal Reserve Singapore Kong vice chairman Bloomberg New York Steven Mnuchin Seoul
"joint economic committee" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

05:28 min | 2 years ago

"joint economic committee" Discussed on Bloomberg Radio New York

"US economy and two big events for investors to focus on on Wednesday fed chairman Jerome Powell testifies before the joint economic committee of congress. And then on Friday, we get the November jobs report for more. Let's bring in Bloomberg economics and fed reporter genus smiling. And Bloomberg economists, Tim Mahy, and Gina let me start with you. When we talk about jobs, what's the outlook? So we've been having really strong job growth for quite a while now, and there is some expectation that it's going to start to moderate. So what economists are expecting in the Bloomberg survey something more like two hundred thousand number down from prior reading of two hundred fifty thousand that two hundred and fifty thousand was a really big print. And so that that kind of moderation would be something you might expect. It's just kind of more of a Wien reversion than anything else this month. How does the market react to something? Like that though. Any any bad news at this point really does seem to be bad news. The I feel like we're on a bit of a rollercoaster ride this week a number below two hundred thousand is likely going to send markets lower the two hundred thousand Mark is interesting because going back that's the number. We were using the previous cycle but looking at trend job growth now it's much lower than that. So even as genus say, we get some moderation this month in the months ahead. That's not necessarily a sign that the economy is on its way out. But it still might mean the markets think that and how is the fed going to read that, you know, I think it's an interesting question. So Tim would know the these figures better than I do but the replacement rate in the job market, so sort of what you would expect to see an economy that basically used up all slack is something around seventy thousand one hundred thousand by most estimates. And so these two hundred thousand numbers are blowouts by the feds sort of standard. And so I don't think that they would necessarily react to a week print that much that said if we would see slippage those. Average hourly earnings numbers, I think that could be fairly meaningful for them. Because I think they already feel like they're kind of defending an inflation rate that showing a little bit of wobbling and could follow slip to the downside. And so I think if you don't have those wage pressures to sort of boost step that inflation rate on a cyclical basis, you're going to be a little more concerned. Would you agree with that? I agree with Gina. I think the fed has been leaning on strong employment gains of the last couple of months as a reason to continue with the rate increases, but inflation was week this month. And so what we're looking at here is a fed that's geared and folk and be focusing on the fishing recent research by a former colleague of mine, Adam Shapiro, the San Francisco fed highlights at the work called a cyclical components of inflation, these pieces of inflation that are attached or are sensitive to the business cycle actually suggests that inflation may be lower than the numbers that are being printed. And so there's some question as to whether they will pick up in the near term, which would again caused the fed to pause and take an assessment of where the economy is right now, the fed is in a position where they could pause after remarks of this past week from fed chairman Jerome Powell, this is some of what he had to say interest rates are still low white historical standards, and they remained just below the range of estimates of that level that would be neutral for the economy. We also know that the economic effects of our graduation rate. It increases are uncertain and may take a year or more to be fully realized translation Gina. We're feeling our way through the dark, right, basically. So I think there are two ways you can think about that comment, and the first is very dovish. So in a way that this was Powell choosing to walk back. His previous statement that we were far away some ways from neutral. And so I think that that is certainly the interpretation that markets talk at this was the dovish statement that he setting up potentially for a pies the other way, you could choose to interpret this was Powell just factually describing the fed stop. But she clearly was doing here. You know, they are close getting close to the lower end of the range of estimates of the longer run neutral rate. And so that's clearly what he said with the fed words matter the chair clearly knew that he was choosing these words in probably had some idea of how they would be interpreted. And so I think that this is an interesting thing to watch and see how this develops in future fedspeak, which will have quite a bit of over the next couple of weeks and ten we've got the testimony coming up. On Capitol Hill. And it seems the markets are hanging on every word which just very interesting because the the comments are unlikely to be different from what was said this week. And so I agree with Gina. I think there's there are two things happening right now one is a recalibration of how the fed is communicating. And so the comments were made prior to this earlier in the fall, they were aways away from neutral, I don't think in their minds that they were saying anything that changed, but the markets reacted. And I think now they're not necessarily walking the comments back, but recalibrating what they're how they're communicating with the public. I mean Powell is a fairly new fed chair. He speaks in different way than than share Yellen. And so he's going to take some time to find his voice. But again, I think if we look back historically to previous cycles, we're talking about fifty basis points, maybe here and there, and that's a whole that's just one rate hike pre two thousand eight so we're we're the markets seem to be reacting to small potentially small changes in rates, but it doesn't necessarily mean that it's going to have big. Economic implications. Are thanks to Bloomberg economics and fed reporter Gina smiley and Bloomberg economists Tim Hiti coming up on Bloomberg daybreak weekend. Opec ministers gather next week in Vienna. We'll look at what it means for the price of.

fed Gina smiley Bloomberg Jerome Powell chairman reporter US Tim Mahy committee of congress Opec Tim Mark Vienna San Francisco Adam Shapiro
"joint economic committee" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:33 min | 3 years ago

"joint economic committee" Discussed on Bloomberg Radio New York

"I have an extra special guest today his name is bruce bartlett and he has a story career in politics in washington dc he has held senior policy roles in both the reagan and george h w bush administration he started in ndc working with congressman ron paul on the banking committee he has also worked with jack kemp he was executive director of the joint economic committee of congress he's written for various publications including the new york times economists blog for the washington post and other fine publications he is the author of multiple bestselling books including reaganomics supplyside economics in action an impostor how georgia w bush bankrupted america and betrayed the reagan legacy most recently he wrote the book the truth matters a citizens guide to separating fact from lies and stopping fake news and extracts bruce bartlett welcome to bombard happy to be here so that's quite the c v let let's let's begin by going to your political beginnings you in nineteen seventy six began working for a then unknown congressman named ron paul out of texas what did you do for him and how did you guys ultimately find each other well e at that time a taxes was very solidly democratic state the old story down there is the democrats were yellow dog democrats sayed vote for a yellow dog if it was running as a democrat and uh there was only two other republicans in the republican house delegation and one of the democrat so resigned because he got a a higher level appointment of some kind and so there they had to have a special election in april nineteen seventy six and i saw brief story in the washington post in which uh this this fell ron paul whom of course i never heard of asset was was elected republican uh to a democratic seat and he was quoted in the article saying he was to the right of barry goldwater while we know it is hard to imagine well in at the time that sounded like a good idea to me i was very conservative at that time uh libertarian and uh so oh and i was i was just finishing up some work at graduate school.

congressman republican house texas the new york times joint economic committee of co ndc george h washington barry goldwater bruce bartlett america georgia washington post executive director congressman ron paul bush administration reagan
"joint economic committee" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:34 min | 3 years ago

"joint economic committee" Discussed on Bloomberg Radio New York

"I have an extra special guest today his name is bruce bartlett and he has a story career in politics in washington dc he has held senior policy roles in both the reagan and george h w bush administration he started in ndc working with congressman ron paul on the banking committee he has also worked with jack kemp he was executive director of the joint economic committee of congress he's written for various publications including the new york times economists blog for the washington post and other fine publications he is the author of multiple bestselling books including reaganomics supplyside economics in action and impostor how george you bush bankrupted america and betrayed the reagan legacy most recently he wrote the book the truth matters a citizens guide to separating fact from lies and stopping fake news and extracts bruce bartlett welcome to bombard happy to be here so that's quite the c v let let's let's begin by going to your political beginnings you in nineteen 76 began working for a then unknown congressman named ron paul out of texas what did you do for him and how did you guys ultimately find each other well the at that time taxes was very solidly democratic state uh you know the old story down there is the democrats were yellow dog democrats say vote for a yellow dog if it was running as a democrat and there was only two other republicans and the republican house delegation and one of the democrat so resigned because he got a a higher level appointment of some kind and so there they had to have a special election in april nineteen seventy six and i saw brief story in the washington post than which show this this foul ron paul whom of course i never heard of asset was was elected republican to a democratic seat and he was quoted in the article saying he was to the right of berry gold war well no it is hard to imagine well in at the time that sounded like a good idea to me i was very conservative at that time uh libertarian and uh so oh and i was i was just finishing up some work at graduate school and.

bruce bartlett reagan bush administration congressman ron paul executive director washington post congressman washington george h ndc joint economic committee of co the new york times america texas republican house
"joint economic committee" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:31 min | 3 years ago

"joint economic committee" Discussed on Bloomberg Radio New York

"Guest today in his name is bruce bartlett and he has a story career in politics in washington dc he has held senior policy roles in both the reagan and george h w bush administration he started in ndc working with congressman ron paul on the banking committee he has also worked with jack kemp he was executive director of the joint economic committee of congress he's written for various publications including the new york times economists blog for the washington post and other fine publications he is the author of multiple bestselling books including reaganomics supplyside economics in action and impostor how georgia you bush bankrupted america and betrayed the reagan legacy most recently he wrote the book the truth matters a citizens guide to separating fact from lies and stopping fake news in its tracks bruce bartlett welcome to bombard happy to be here so that's quite the c v let let's let's begin by going to your political beginnings you in nineteen seventy six began working for a then unknown congressman named ron paul out of texas what did you do for him and how did you guys ultimately find each other wealthy at that time taxes was very solidly democratic state uh you know the old story down there is the democrats were yellow dog democrat sayed wrote for a yellow dog if it was running as a democrat and uh there was only two other republicans in the republican house delegation and one of the democrat so resigned because he got a a higher level appointment of some kind and so there they had to have a special election in april nineteen seventy six and i saw brief story in the washington post than which show this this foul ron paul whom of course i'd never heard of asset will was elected republican to a democratic seat and he was quoted in the article saying he was to the right of barry goldwater while it is hard to imagine well in at the time that sounded like a good idea to me i was very conservative at that time uh libertarian and uh so oh and i was i was just finishing up some work at graduate school.

washington republican house sayed texas america the new york times joint economic committee of co ndc george h bruce bartlett barry goldwater congressman georgia washington post executive director congressman ron paul bush administration reagan
"joint economic committee" Discussed on WBZ NewsRadio 1030

WBZ NewsRadio 1030

01:37 min | 3 years ago

"joint economic committee" Discussed on WBZ NewsRadio 1030

"In anticipation of rising interest rates and lower taxes cbs news business analyst jill schlesinger has details stack indexes were make says investors rotated away from tak into banks and other sectors that could benefit from improving economic conditions lower regulations and taxes and higher interest rates the dow gained one hundred four points to twenty three thousand nine forty while the nasdaq tumbled eighty eight points or one point three percent to sixty eight twenty four it was the biggest oneday drop in more than three months third quarter economic growth was revised up modestly to three point three percent annualized that's the best reading in three years the boost came from a stronger positive contribution from business equipment investment as republican senators negotiate details of a corporate tax cut the government also reported that aftertax corporate profits increased by seven point seven percent over the last year fed chair janet yellen testimony to the joint economic committee of congress provided further reason to believe that the fed will hike rates again in december jill schlesinger cbs news wbz news time 509 well those old single use plastic bags will soon be banned from boston stores and shops after unanimous vote from the city council wbz's kendall bule has more from city hall primary author of the ban counsellor met o'malley believes initial opposition was overcome by realization that the fivecent cost of buying reusable shopping bags is outweighed by the cost of doing nothing stores right now chugged factor in the cost of the bags into the bottom line of their prices there twenty tonnes.

interest rates jill schlesinger dow nasdaq kendall bule city hall o'malley business analyst corporate tax fed janet yellen joint economic committee of co boston three percent seven percent twenty tonnes three months three years oneday
"joint economic committee" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:12 min | 3 years ago

"joint economic committee" Discussed on Bloomberg Radio New York

"Good morning to our listeners out there it's eight thirty in the morning here in hong kong i've debuting less at i've doug christner at bloomberg world headquarters in new york word is seven thirty wall street time we're seeing a lot of weakness in equity markets across the asiapacific in japan the nikkei down twotenths of 1 percent we just got the industrial production reading out of japan a gain when you compare october to sub10 of that for a twelve th consecutive monthly increase even so the latest reading on japanese ip was below estimates industrial production rising just onehalf of 1 percent of the forecast was for a gain of one point eight percent so are quite a bit of weakness and we're seeing a weaker yen right now against the dollar here at one twelve point zero nine closer look at data and markets coming up with the brian curtis right now let's get you caught up on this hours top business jeurys and let's get started with that testimony firm janet yellen as she will of course elegant congress a fairly bright picture of the us economy he told the joint economic committee that the expansion is increasingly becoming more broadbased across sectors and industries as well as across much of the global economy i expect that with gradually just vincent the stance of monetary policy the economy will continue to expand and the job market will strengthen somewhat further supporting faster growth in wages and incomes yawns term is cherry expires in early february fed governor general powell is awaiting confirmation by the senate to succeed her well i'm just a bringing up c l a this is the active goal a wti contract on the bloomberg terminal than i hit the h cpi too good to the entered a change in new york we were down not what is today wednesday in new york one point two percent in front of this opec meeting in vienna jeff curry is they had a commodities research over at goldmann sachs he told us no matter what opec decides oil is well positioned in the long run he look at the overall run up in price that would be associated with that position may put roughly two dollars fifty cents being associated with the opec which means the lion's share of this move that we see more recently is really being driven by the underlying demand environment so he did voice.

new york vienna bloomberg wti bloomberg world hong kong opec goldmann sachs jeff curry doug christner senate general powell global economy janet yellen brian curtis japan nikkei equity markets 1 percent eight percent two dollars two percent
"joint economic committee" Discussed on WSJ What's News

WSJ What's News

02:00 min | 3 years ago

"joint economic committee" Discussed on WSJ What's News

"Thanks for listening everyone outgoing federal reserve chair janet yellen testified in front of the joint economic committee on wednesday she said the central bank would continue with the path of gradual interest rate increases since the economy is performing mostly as expected we continue to expect a gradual increases in the federal funds rate will be appropriate to sustain healthy labour market in stabilize inflation around the fomc two percent objective that expectation is based on the view that the current level of the federal funds rate remain somewhat below its neutral level that is the rate that is neither expansionary nor contractionary and keeps the economy operating on an even keel covering the hearing for the wall street journal is nick tim who joins us from washington nick fed chair yellen as mentioned was upbeat about the economy but didn't she seem a little unsure as to y inflation has been rather sluggish that seems to be the weak spot and economic growth inflation has definitely been the puzzle for the fed this year the economy has otherwise performed in line with their expectations but uh you would you know if you were at the fed you would think that if the economy had a four percent unemployment rate rose four point one percent unemployment rate in october that's down from four point eight percent a year ago you would think that maybe you'd be seeing more of a uh at least steady inflation pressures and in fact inflation weakened in the spring of this year and despite expectations that it would rebound after that it hasn't so now the question for the fed is war if the economy is doing so well what's going on with inflation and janet yellen in her testimony said they they still expect that this is transitory because with tighter later.

janet yellen central bank wall street journal nick tim unemployment rate washington fed eight percent four percent one percent two percent
"joint economic committee" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:42 min | 3 years ago

"joint economic committee" Discussed on Bloomberg Radio New York

"Course in the other side you got putting other why is that positive developments from a us tax was formed with a senate policy calls for that we still don't know is going to go the bill you a spill was can got to the floor when they get passed without now even in the senate positive many sorts go to the house get a joint built get sowing so you go is tug of war going on and at the moment dolphins referees sharpudin amount but going sort of nowhere slightly downwards oval the general trend these but that's what happens is yang stuck in a tug of war david finish see thank you so much from our markets life team for realtime market commentary and analysis checkout markets live that's an l i the on your bloomberg and speaking of all of that nature i onto the rest of our top stories yeah absolutely we did hit form of the ignominy jerome powell yesterday he told lawmakers that the case for raising interest rates next month is quote coming together unquote and his attic at his confirmation hearing before the senate banking committee he said that while unemployment is low the economy doesn't appear to be overheating this aligns him with the more dovish bank bapela as the labor market can get even stronger without creating inflation worries we don't see wages signaling any tightening any tightness in the labor market there's no sense of an overheating economy were particularly tight labour market that was a fat jet nominee a drone powell speaking yeah and that didn't dubs yellen a twopoint irwin speaking of affect current fed chair janet yellen she'll testify today to the joint economic committee of congress one day after the man who set to replace a had his hearing before the senate banking committee but also in us news the outlook republican tax reform he is to be improving the.

senate the house bloomberg jerome powell interest rates senate banking committee labor market janet yellen us joint economic committee of co the outlook one day
"joint economic committee" Discussed on C-SPAN Radio

C-SPAN Radio

02:11 min | 3 years ago

"joint economic committee" Discussed on C-SPAN Radio

"June and the need for job creation and economic growth joint economic committee is chaired by pat tiber member the house from ohio p joint economic committee has members of both the house and the senate one listen formative hearing on how we can accelerate economic growth in the united states what is holding back economic growth in america has been of central interest to this committee from the onset of my term is chairman our hearing our hearings have produced useful information and incites i'm particularly pleased to have term and has lent his insights they on the forces of constraints that are holding back private investment labourforce participation and important just as important as anything else wages we hope to get a clearer picture of how the right policies can help you com cover its full potential economies dealing with the aging of the population the slowing of the population growth and technological changes that are altering the methods of production in america but selfimposed constraints of also altered the way the economy performs and not in a good way i strongly believe we can do something about that here in the united states congress i'd like to divert your attention to the graph showing how the congressional budget office lowered its assessment of the economies alpe potential every year since two thousand seven through two thousand sixteen these are not projections of actual gdp mind you but of potential gdp the economy's output economies output capacity normally a fairly soon abel concept back in two thousand seven the cbo estimated the us output potential for 2016 to be over twelve percent higher it actually is now what happened the aging of the population was predictable not anticipated was the us business investment would be down from pre recession race in at the rate at which america participating labor force would be dropping so markedly despite the low unemployment rate the labor's markets health has not been fully restored indeed the labour force participation rate of people of prime working age remain substantially below where it was prior to the recession i believe the economic.

the house senate united states chairman america cbo unemployment rate pat tiber ohio twelve percent
"joint economic committee" Discussed on C-SPAN Radio

C-SPAN Radio

02:14 min | 3 years ago

"joint economic committee" Discussed on C-SPAN Radio

"Channel and a today's joint economic committee hearing kevin hassett who is the chair of the president's council of economic advisers was talking about taxes in the economy and the deficit he said that the tax cuts would spur the economy and create overall growth this question from republicans congressman pattaya theory of ohio who by the way he is leaving congress early next year is the chair of the joint economic committee as i mentioned in my testimony of children that graf over the past decade the cbo has continually drought downgraded its estimate of with the economy is capable of producing arm output potential is it possible in your opinion that the obama era policies of higher taxes and heavier regulation actually constrained our economic potential and and how could we change that i think got on the regulation it certainly possible i think that you're chart really captured what happened in recent years which is that it's not our actions on tax policy that necessarily harmed us it's our actions and so what happened is the rest of the world cut the corporate taxes and that medium their countries much more attractive for the location of multinational plants than our country and we saw the activity move overseas in response to that in a one metric term tvri to think about how big this effect is that there is a national grove economic research paper of the came out in the spring uh that looked out just us multinationals they transfer price the profits abroad to the foreign plants of but they transfer price the profits abroad by paying too much for the products that they buy from say the irish plant in this this study estimated that fifty two percent of our trade deficit right now is coming about because of this transfer pricing were paying too much for stuff from our foreign subs removing that much activity offshore so much activity that fifty two percent of our trade deficit is attributable to it and so of course that means lower to be in for workers and lower wages as well earlier today part of the economic committee and kevin has who is the president's point person on economic growth and of the tax debate testifying before the committee with questions from congress in pattaya bieri republican of ohio meanwhile in the senate the chair of the senate health committee lamar alexander tennessee today receiving a cdl score on his plan to shore up the insurance markets and.

kevin hassett president ohio congress cbo tax policy senate tennessee congressman obama pattaya bieri fifty two percent