20 Burst results for "Linette Lopez"

"linette lopez" Discussed on Marketplace with Kai Ryssdal

Marketplace with Kai Ryssdal

07:53 min | 1 year ago

"linette lopez" Discussed on Marketplace with Kai Ryssdal

"In los angeles. I'm carl rozelle. It is friday the eighth of october. I do believe that has always to have you along everybody. So look i'll tell you what you take all your forecast and your estimates and your analysts reports and i will take the delta variant and let us just see which side has a better handle on where this economy's going. Shall we go ahead. I'll wait because it's the virus. Look no farther than this morning's o of a jobs report one hundred ninety four thousand new jobs last month not even within shouting distance of even the best guesses so that is where we start catherine pels at the washington post linette lopez is at business insider. Hey to hey k. So catherine we begin with you challenge the premise. The viruses in charge right absolutely. Okay i think there were all of these hopes that we would have much stronger. Job growth in september because of a few different things right schools were reopening which meant that. There were fewer impediments for parents who wanted to return to work in theory also the expiration of the federal unemployment insurance supplements which may have been keeping at least some workers on the on the sidelines And instead of course we got the delta variants delta. Marion had other plans and You know we had much Slower growth partly because They were actually job losses in the healthcare sector as people delayed elective procedures and such and A number of facilities have had trouble hiring Childcare issues continue to be a problem etc so yeah viruses and charge shoe linen. Let me ask you this though because last month when we came in at i think it was two thirty five two hundred thirty five thousand new jobs. Everybody said oh no. It's just a blip wait until september. It's going to be fine here. We are in september. And what. I think we're finding. It's a lot harder to iron out the wrinkles of this messy messy messy economy than we thought First of all sometimes it feels like this whole economy is a game of sim city. That is very very wrong. Like hurricane ida was also a factor in the jobs report slowing things down I think caretakers are really important The fact that a lot of women who generally lead recovery's and show you how l recovery is going. It didn't add a lot of jobs. This month shows you that women are still staying at home. Taking care of their families And you know a lot of kids are getting sent home from school so this is still a spotty school soft school thing going on and what an one thing. We're not talking about enough in the. Us is the energy crisis in china. Which is starting to affect supply chain on people. Don't think that's gonna get cleared up until march so the the noisy messy nece. Slowness of this economy is going to continue. I think longer than people expected. Catherine one more thing on on jobs. We went through the report this morning and the frizz unchanged little changed was like in fifteen places in their narrative summary this morning from the bureau of labor statistics that would suggest we're a tad bit stuck. Yeah again. There were hopes of stronger growth. There were some areas where they were job losses but even in the areas where they were job gains the gains were. Were not that impressive For for example in leisure and hospitality they added. That industry added jobs but at a much slower pace than had been the case before and that industry is deeply deeply in the whole. you know. that's that's hotels restaurants bars etc so The these hopes that we would finally dig our way out of this whole Just aren't materializing. We're moving forward but but much too slow. As part of those hopes are hinged on the idea that the unemployment benefits running out into timber for a lot of people to go back to the labor market. And that just didn't happen so that's why people made big right well. Linda keep going right because part of what happened here is with the unemployment rate falling to four point. Eight percent. People just left the labor market. Right there's done they they just stop looking for jobs. Which is the last thing we want. Because you have their long catholics college at the washington post rate of wrote a really great article about why people are fun. Jobs and part of her article was the fact that A lot of these algorithms on sites at monstrance. Look to see if you've been out of the job market for more than six months. You haven't had a job in six months and that's in this situation not a great thing for people. Some people have been out of work since the beginning of endemic them. It's not their fault. Catherine we're going to. We're going to revise the rules on my favorite game. Show what his jay pal thinking Take all the words you need. So long as it doesn't run more than like forty five seconds. Where does this job report. Put us in the feds guidelines of. They need to see substantial further progress in this economy before they start doing things. Well powell had said at the septem- after the september meeting that basically we have met the threshold for substantial further progress on Inflation and that we still had some ways to go on jobs. But i think he said something like it wouldn't take a knockout report. I wouldn't take a super strong employment report. Something like that To discourage the likelihood of tapering By their next so this was definitely not a knockout report but So you know i think given other indicators suggesting that there is some tightness in the labor market right. Now job vacancies wade growth etc. I think we are still likely on track to see the feds tapering pretty soon now whether they start raising interest rates is a totally separate question. And that's still seems a long way away. The catherine what are you thinking and i mean. Sorry lynn what do you think. And good point gathering to separate the whole taper from the raising interest rates thing but substantial further. Progress limit disgust. You got you got forty five seconds. I think that we're going to have to continue. We're going to have to taper at some point. This market is super super hot and inflation. You know we're starting to see that I don't think this is not the fed off track I think that they're flexible. But we're gonna taper fair enough. I wanna go super super quickly. Catherine to this global minimum tax that janet yellen in the oecd announced today at least yesterday afternoon. This is a big deal. Global minimum tax of fifteen percent. Explain it well. There are a couple of things that we need to do. I mean it's a big deal. Yes that that. This agreement was reached Not everybody thought it would happen. But it's not a done deal in the sense that basically every country will have to go back to. Its its parliamentary parliament. Or whoever is is setting the tax laws and make a bunch of changes and some of those will be easier to make than others including in the us congress will probably be able to raise the tax that us companies pay on foreign profits to fifteen percent pretty easily on its own. That can democrats can do that with a party. Line vote but there are some other changes that were agreed to about Whether companies pay taxes where their goods or services are sold even if even if they have no physical presence there and that may require a treaty deal. Which would require two-thirds of the senate so big hurdle fair enough catherine pellet the washington post wrapping up a really complicated ballsy thing and forty seconds. Thank you catherine when lopez also. She's a business insider. Thanks you too bye bye on wall street today hold a bouncing around actually not a whole lot of change details numbers..

carl rozelle catherine pels linette lopez hurricane ida washington post bureau of labor statistics Catherine catherine Marion los angeles china Linda janet yellen powell us Jobs lynn oecd
"linette lopez" Discussed on Marketplace with Kai Ryssdal

Marketplace with Kai Ryssdal

06:50 min | 1 year ago

"linette lopez" Discussed on Marketplace with Kai Ryssdal

"August. Always have you long everybody. There has been the story this week. The our to our happenings of which have been covered basically everywhere else but the economy waits for no one not this week not ever so to it. We shall get katherine. Bell writes for the washington post. Linette lopez is at business insider. Hey to hey k. k. chi. So catherine we will start For lack of a better place with the federal reserve the minutes of their last meeting. The july meeting came out this week. Much consternation Amid chattering class about increased discussion of the taper the feds slowing its bond buying program With with the Look ahead that the fed. There's a big fed meeting in jackson hole. Wyoming navratil by the way Next week jay pals going to give a speech. What are you looking for. And what does it matter well. I think the fact that they even the famed jackson hole meeting have gone. Probably not a great sign for how the fed feels about the risk of the delta variant. Right now for all kinds of Economic activity including conference meetings. But in any event. I you know. I think everybody's gonna be looking for any clue as to taper talk because the prospect of any form of stimulus being reduced as Delta related infections are rising and supply chain issues continue could potentially spook markets. But you had the minutes come out recently. Suggesting a little bit of hawkish nece From from members of the fed so people are gonna be looking for that I think also any commentary whatsoever about the inflation outlook you know. The fed has characterized pricing pressures as being transitory to use the term of art. That transition has been lasting a little bit longer than anybody forecasts before or most people forecast before. So how does powell characterized pricing pressures going forward so linen has. The fed waited too long to start pulling the support. I mean the economy you know yes delta but the management strong now for a while and there is some critique of the fed that says listen man what why are you still you know bumping things up. While we haven't reached our mandate of full employment. We still. what are we still six million seven million jobs in the hall from where we started and there are you know again there's giant worry about the delta variant. One thing that. I'm eager to hear from the fed is whether or not they're concerned about what's going on in china right now. The chinese government is you know taking acid industries talking about at the ball. It looks like china is closing. Its economy in a way. We haven't seen in multiple decades. And i wonder what that means for global growth and i don't know if they're going to talk about that at jackson hole but i wanna know well if what it wants to know but but look. Do you really expect jay powell lynette to take that on in addition to oh by the way the delta varian and what's going on in this economy there's a choice you know we have to worry about what the world is doing to make our own lands. We know that because you're not recovering from that the pandemic as quickly as we are we have to worry about. What's the world is doing fair enough fair enough and yes agreed. Catherine i am obliged to point out that a lot of the support. The economy has been getting on the fiscal side that is to say from congress in the form of relief and and unemployment benefits on all of those things. Those go away in something like What is it now. Two and a half ish weeks. Does that concern you. It's been hard to know whether for example the supplemental unemployment benefits have been helping or hurting Job growth todate last year. It looked like it was having no effect you know but we were in a different situation. Then this was earlier in the pandemic. now there's this heated debate about whether these benefits are holding people back from returning to the workforce from from accepting jobs or. They're keeping people afloat because they can't go back to work either because there aren't jobs in their field or there's they don't have childcare. Or what have you so the numbers that we've seen so far kind of don't really shed any light one way or the other about whether the states that have already withdrawn their Supplemental you unemployment insurance benefits. Whether they've had faster grow faster job growth or not. It's very hard to disentangle all these different things. So it's it's hard to say. I think that The the argument has been that too. Much of the fiscal stimulus. In general was frontloaded and it would have been helpful to spread out some of that whatever. It was one point nine trillion dollar package. More over time The fact that some of these things are ending pretty soon right as the delta variant cases are getting worse is is not super encouraging. But it's as i said it's very hard to tell like how big the marginal impact on hiring is or on other. Economic activity is right now. Limit skill a one to ten. How worried are you as catherine points out that the the relief and the benefits are being ended as well. I don't even know what that noise was. Maybe it was lenin. Well we'll see maybe it's actually just katherine katherine. You still there. I'm still here or good. So let's keep going here Scale one to ten. How worried are you about. Sorry the question. How worried are you skill. One to ten that these things are happening at the same time that the burien is ramping up and there are some business concern and and the fiscal relief is going away. I don't know exactly where i fall on that numerical scale i would say i'm more concerned about the delta variant than i am about the fiscal relief at this point. Just because we've only very recently started reopening large swats of the economy. People are comfort more comfortable or had been more comparable going to restaurants and traveling Going to the movie theater etc resuming. The normal lives. And i'm concerned that quite reasonably people may retrench and decide that they are no longer going to feel comfortable doing those things which which will of course hurt economic activity. Whether or not you know you. I factors into that. I don't know There have been a lot of other programs that have been slow to to Get money out as well. So if they end you know like with the rent relief that a lot of that money hasn't got out if it.

fed Linette lopez jay pals chinese government jay powell jackson catherine the washington post katherine chi Wyoming china Bell Delta powell Catherine katherine katherine congress
"linette lopez" Discussed on WBUR

WBUR

02:43 min | 1 year ago

"linette lopez" Discussed on WBUR

"Well, you know, it's funny that you say that because the second that this uh an indictment came out and the details came out. One of my sources who was a 30 year long track record on Wall Street text messaged me the portion of the indictment that that relates to that issue specifically and was like He's in trouble because this is a violation of the debt covenants that Donald Trump uses to stay liquid. He borrows money against his assets in order to have cash because in real estate, your assets are liquid. So, um If he is proven to have lied about The amount of money that you know all this stuff is actually worth that trips, potentially the debt covenants. He's supposed to refinance. Uh Hundreds of millions of dollars worth of debt in the in the coming years, and it's quite possible that he won't be able to do that, because he'll be in such poor shape with these banks. And so, um, this is the piece of of the complaint that really had My sources going. Whoops. Right, Right. Okay, Heather, Super quick, another slice of the politics of this economy that that I wanted to point out and that you have raised Before this idea of the I R s and funding for the IRS. We have a huge tax gap in this country. Um, there was a report out this week from the IRS is national taxpayer advocate talking about the backlog of tax returns. And yet we don't fund tax collection in this country. And we got like 30 seconds for you to get this in. Basically, the key takeaway is the I. R s is a hot mess. Uh uh, You know, they have a 35 million backlog. They only answered fewer than 10% of the calls This year. I would like to only answer 10% of my calls that would make Judge job a lot easier. And now we're asking them to crack down on tax chiefs implement these new big tech tax laws and starting this month send checks to millions of families for the child tax credit. Good luck. Heaven. Help us, Heather Long at the Washington Post. Linette Lopez business Insider. Have a good weekend. You to enjoy the fourth if you're off you too, Okay. Thanks Kind on Wall Street today heading into that holiday weekend. There was some exuberance actually, hopefully not irrational. We'll have the details when we do the numbers, all right back to jobs for a second as promised, and the value of a trend.

Donald Trump Heather Long 30 year 35 million 30 seconds Linette Lopez This year today Heather IRS One this week fourth Hundreds of millions of dollar millions 10% second this month Washington Post R
"linette lopez" Discussed on 90.3 KAZU

90.3 KAZU

07:34 min | 1 year ago

"linette lopez" Discussed on 90.3 KAZU

"Along everybody The news of this economy this week. Has come from far and wide jobs. Of course, Today, there was news of economic growth in federal deficits and the I word our own personal moratorium on that on this program notwithstanding. Various and sundry other things as well. So much to talk about relatively little time in which to do it. Heather Long is it The Washington Post? Linette Lopez? Is that business insider? Hey, you too, Okay. So, Heather, Let me start with you. Obviously, the jobs report out today on 850,000 new jobs, the rate ticked up. I think it was 1/10 percent. Uh, we got Mitchell coming up later on on on some of the details, but not a lot to not like in this report, right? Absolutely. The big takeaway for me is if you raise wages workers will come. We saw that big boost and hiring in the hospitality sector. Basically, 40% of those job gains coming in restaurants and hotels and entertainment venues. And you know what? That's where the biggest pay gains have come. It's really notable to me that restaurants for the first time ever now pay an average of 15 an hour that magic 15 number. And we've seen some of the fastest pay games since the early 19 eighties. So the laws of economics are working. Also baseball movies because there's your field of dreams Reference, Linette Lopez. What do you like in this report? Um I like a lot in the report. I like that. Uh, you know, the payroll gains are largest in low wage industries. So we're helping out the people who really need the help and I think it's interesting that we're hearing from recruiters that there is no pick up in job searches in states where they've already cut off benefits for the unemployed. I think you know this is a really interesting time in our economy, where we're testing a lot of economic theories. It's not often that you shut off the economy and turn it back on so we can learn a lot of things from this exercise. And one thing that seems that we're learning is that human beings are super resilient. Americans figured out how to make do during the pandemic, and now they're taking their time to find another job. They're figuring out what they actually want to do. They're waiting for wages that work for them, And I think I don't think that economic logic necessarily states that that's something that would happen. You think people out of a job boom. We want to go back right away, but no We figured out ways to make it work. And so now people are taking their time to figure out what's up. And Heather. You've written about that a lot, right people taking their time and figuring it out. But let me pick up on something, Lynette said, Because it's actually really interesting. We have had a natural experiment in turning an economy, often turning an economy on and it seems To be doing, Um I'm going to say really well, right. Lots of government help and lots of people still really, um, displaced. But the report out from Congressional budget office this week on economic growth at 6.7% for the year inflation, not that big a deal settling by 2022. It seems so far so good. Yeah, it's almost feels too good to be true. You sort of think. What are we missing? What are we missing here? You know the two big ones for me. I'm keeping my eye on that inflation in particular rent prices. We all have seen the craziness in the housing market with multiple bids and stuff going for 100,000 or even a million above asking, But we're starting to see some of that craziness and the rent market with big surges and rent prices. And so if that continues, that's a big chunk of people's budgets, and that's really going to hurt going forward and stay around. It won't be that transitory word. The Fed gloves the other thing that I keep my Iowan and I know you do, too. And Lynette as well is hunger, food insecurity. We all remember those horrible lines at Thanksgiving. Uh, you know, with people hungry in this country, and what surprised me and I wrote about this week, more than 20 million Americans are still say they don't have enough to eat each week. And that number has ticked up since late April. Despite all of this government aid we're debating if it's too much aid, we still seem to have an underbelly here of people that are really struggling. And in today's jobs report we saw long term unemployed is also rising. Yeah, so Leonard, I was going to ask you about that right because the number of long term unemployed 27 weeks or more actually went up in this most recent report, and that is that is not a great thing. No, it's not. Because the longer you stay out of the labor market, you know you lose skills less attractive to employers. What we have to hope is that employers are really truly getting desperate. And you know, if you want a job, we still have 6.7 million jobs to go. Um, we have more workers than we have, or we have more jobs than we have workers. So hopefully eventually those long term unemployed get pulled back into the labor market. But Against? We don't know. This is an experiment. Right? Right. Okay. Total change gears. And Lynette, I want to stay with you. And I wanna I wanna, um, user expertise on Wall Street and and the time you have spent reporting in that environment, and I don't want to get into the politics of this because that has been covered well and truly elsewhere. But President Trump's company and his chief financial officer were indicted yesterday. And I want your take based on your experience reporting on Wall Street if you were a banker, even thinking about doing business with the Trump organization. And they have been indicted for In essence, double bookkeeping. Are you going to keep lending them money? Well, you know, it's funny that you say that because the second that this uh an indictment came out and the details came out. One of my sources who was a 30 year long track record on Wall Street text messaged me the portion of the indictment that that relates to that issue specifically and was like, Oh, He's in trouble because this is a violation of the debt covenants that Donald Trump used is to stay liquid. He borrows money against his assets in order to have cash because in real estate, your assets are liquid. So, um If he is proven to have lied about The amount of money that you know all this stuff is actually worth that trips, potentially the debt covenants. He's supposed to refinance. Uh Hundreds of millions of dollars worth of debt in the in the coming years, and it's quite possible that he won't be able to do that, because he'll be in such poor shape with these banks. And so, um, this is the piece of of the complaint that really had My sources going. Whoops. Right, Right. Okay, Heather, Super quick, another slice of the politics of this economy that that I wanted to point out and that you have raised Before this idea of the IRS and funding for the IRS. We have a huge tax gap in this country. Um, there was a report out this week from the IRS is, um, National taxpayer advocate talking about the backlog of tax returns. And yet we don't fund tax collection in this country. And we got like 30 seconds for you to get this in. Basically, the key takeaway is the I. R s is a hot mess. Uh uh, You know, they have a 35 million backlog. They only answered fewer than 10% of the calls This year. I would like to only answer 10% of my calls. It would make Judge job a lot easier, and now we're asking them to crack down on tax change. Implement these new big tech tax laws. And starting this month, send checks to millions of families for the child tax credit. Good luck. Heaven. Help us, Heather Long at the Washington Post. Linette Lopez business Insider. Have a good weekend. You to enjoy the fourth if you're off..

Lynette Donald Trump Heather Linette Lopez 2022 Leonard 35 million 6.7% 30 seconds 40% 100,000 30 year 27 weeks IRS late April Heather Long today Mitchell Today yesterday
"linette lopez" Discussed on KQED Radio

KQED Radio

02:23 min | 1 year ago

"linette lopez" Discussed on KQED Radio

"Covenants that Donald Trump uses to stay liquid. He borrows money against his assets in order to have cash because in real estate, your assets are liquid. So, um If he is proven to have lied about The amount of money that you know all this stuff is actually worth that trips, potentially the debt covenants. He's supposed to refinance. Uh Hundreds of millions of dollars worth of debt in the in the coming years, and it's quite possible that he won't be able to do that, because he'll be in such poor shape with these banks. And so, um, this is the piece of of the complaint that really had My sources going. Whoops. Right, Right. Okay, Heather, Super quick, another slice of the politics of this economy that I wanted to point out and that you have raised Before this idea of the IRS and funding for the IRS. We have a huge tax gap in this country. There was a report out this week from the IRS is national taxpayer advocate talking about the backlog of tax returns. And yet we don't fund tax collection in this country. And we got like 30 seconds for you to get this in. Basically, the key takeaway is the I. R s is a hot mess. Uh uh, You know, they have a 35 million backlog. They only answered fewer than 10% of the calls This year. I would like to only answer 10% of my calls. It would make Judge job a lot easier, and now we're asking them to crack down on tax change. Implement these new big tech tax laws. And starting this month, send checks to millions of families for the child tax credit. Good luck. Heaven. Help us, Heather Long at the Washington both Linette Lopez business Insider. Have a good weekend. You to enjoy the fourth if you're off. YouTube. Okay. Alright, thanks, guys on Wall Street today Heading into that holiday weekend, there was some exuberance actually, hopefully not irrational will have the details when we do the numbers. Alright back to jobs for a second as promised, and the value of a trend line you grab the jobs added to this economy the last three months..

Donald Trump 35 million Heather Long 30 seconds YouTube Heather today IRS Linette Lopez This year Hundreds of millions of dollar this week millions Wall Street Washington fourth both this month 10% last three months
"linette lopez" Discussed on KQED Radio

KQED Radio

06:08 min | 1 year ago

"linette lopez" Discussed on KQED Radio

"The workplace platform helping companies reopened with confidence. Has come from far and wide jobs. Of course, Today, there was news of economic growth in federal deficits and the I word our own personal moratorium on that on this program notwithstanding. Various and sundry other things as well. So much to talk about relatively little time in which to do it had a long is that the Washington Post Linette Lopez is a business insider. Hey, you two Heather, Let me start with you. Obviously, the jobs report out today under 850,000 new jobs, the rate ticked up. I think it was 1/10 percent. We got Mitchell coming up later on on on some of the details, but not a lot to not like in this report, right? Absolutely. The big takeaway for me is if you raise wages workers will come. We saw that big boost in hiring in the hospitality sector. Basically, 40% of those job gains coming in restaurants and hotels and entertainment venues. And you know what? That's where the biggest pay gains have come. It's really notable to me that restaurants for the first time ever now pay an average of 15 an hour that magic 15 number. And we've seen some of the fastest pay game since the early 19 eighties. So the laws of economics are working. Also baseball movies because there's your field of dreams Reference, Linette Lopez. What do you like in this report? Um, I like a lot in the report. I like that, Uh, you know, the payroll gains are largest in low wage industries. So we're helping out the people who really need the help, And I think it's interesting that we're hearing from recruiters that there is no pick up in job searches in states where they've already cut off benefits for the unemployed. I think This is a really interesting time in our economy, where we're testing a lot of economic theories. It's not often that you shut off the economy and turn it back on so we can learn a lot of things from this exercise. Um, and one thing that seems that we're learning is that human beings are super resilient. Americans figured out how to make do During the pandemic, and now they're taking their time to find another job. They're figuring out what they actually want to do. They're waiting for wages that work for them, and I think I don't think that economic logic necessarily states that that's something that would happen. You think people out of a job boom. We want to go back right away. But no, we figured out ways to make it work. And so now people are taking their time to figure out what's up. And Heather. You've written about that a lot, right people taking their time and figuring it out. But let me pick up on something, Lynette said, because it's actually really interesting. We have had a natural experiment. And and turning an economy off and turning an economy on and it seems to be doing um I'm going to say really well, right. Lots of government help and lots of people still really Displaced. But the report out from Congressional budget Office this week on economic growth at 6.7% for the year inflation, not that big a deal settling by 2022. It seems so far so good. Yeah, it's almost feels too good to be true. You sort of think. What are we missing? What are we missing here? You know the two big ones for me. I'm keeping my eye on that inflation in particular rent prices. We all have seen the craziness in the housing market with multiple bids and stuff going for 100,000 or even a million above asking. But we're starting to see some of that craziness and the rent market with big surges and rent prices. And so if that continues, that's a big chunk of people's budgets, and that's really going to hurt going forward and stay around. It won't be that transitory word The Fed loves The other thing that I keep my eye on. And I know you do, too. And Lynette as well is, um, hunger, food insecurity. We all remember those horrible lines at Thanksgiving. You know, with people hungry in this country, and what's surprised me and I wrote about this week more than 20 Million Americans are still say they don't have enough to eat each week, and that number has ticked up since late April. Despite all of this government aid we're debating. If it's too much aid, we still seem to have An underbelly here of people that are really struggling, and in today's jobs report we saw long term unemployed is also rising. Yeah, so Leonard, I was going to ask you about that right because the number of long term unemployed 27 weeks or more actually went up in this most recent report, and that is that is not a great thing. No, it's not. Because the longer you stay out of the labor market, you know you lose skills less attractive to employers. What we have to hope is that employers are really truly getting desperate. And you know, if you want a job, we still have 6.7 million jobs to go. We have more workers than we have. Or we have more jobs than we have workers. So hopefully eventually those long term unemployed get pulled back into the labor market. But again, we don't know. Is this experiment, right? Right? Okay. Total change gears. And Lynette, I want to stay with you. And I want to. I want to, um, user expertise on Wall Street and and the time you have spent reporting But President Trump's company and his chief financial officer were indicted yesterday. And I want your take based on your experience reporting on Wall Street if you were a banker, even thinking about doing business with the Trump organization, and they have been, uh, indicted for In essence, double bookkeeping. Um, are you going to keep lending them money? Well, you know, it's funny that you say that because the second that this, uh Uh, an indictment came out and the details came out. One of my sources who is a 30 year long track record on Wall Street text messaged me the portion of the indictment that relates to that issue specifically and was like, Oh, He's in trouble because this is a violation of.

Lynette 2022 Leonard 6.7% 100,000 40% 27 weeks 30 year Heather late April today Mitchell Thanksgiving Linette Lopez Congressional budget Office early 19 eighties yesterday Today 1/10 percent 15
"linette lopez" Discussed on WNYC 93.9 FM

WNYC 93.9 FM

07:08 min | 1 year ago

"linette lopez" Discussed on WNYC 93.9 FM

"Economy this week. Has come from far and wide jobs. Of course, Today, there was news of economic growth in federal deficits and the I word our own personal moratorium on that on this program notwithstanding. Various and sundry other things as well. So much to talk about relatively little time in which to do it. Heather Long is that the Washington Post Linette Lopez, is that business insider? Hey, you two So, Heather, Let me start with you. Obviously, the jobs report out today under 850,000 new jobs, the rate ticked up. I think it was 1/10 percent. Uh, we got Mitchell coming up later on on on some of the details, but not a lot to not like in this report, right? Absolutely. The big takeaway for me is if you raise wages workers will come. We saw that big boost and hiring in the hospitality sector. Basically, 40% of those job gains coming in restaurants and hotels and entertainment venues. And you know what? That's where the biggest pay gains have come. It's really notable to me that restaurants for the first time ever now pay an average of 15 an hour that magic And we've seen some of the fastest pay games since the early 19 eighties. So the laws of economics are working. Also baseball movies because there's your field of dreams Reference, Linette Lopez. What do you like in this report? Um I like a lot in the report. I like that. Uh, you know, the payroll gains are largest in low wage industries. So we're helping out the people who really need the help and I think it's interesting that we're hearing from recruiters that there is no pick up in job searches in states where they've already cut off benefits for the unemployed. I think you know this is a really interesting time in our economy, where we're testing a lot of economic theories. It's not often that you shut off the economy and turn it back on so we can learn a lot of things from this exercise. And one thing that seems that we're learning is that human beings are super resilient. Americans figured out how to make do during the pandemic, and now they're taking their time to find another job figuring out what they actually want to do. They're waiting for wages that work for them, and I think I don't think that economic logic necessarily states that that's something that would happen. You think people out of a job boom. We want to go back right away, but no We figured out ways to make it work. And so now people are taking their time to figure out what's up and Heather. You've written about that a lot, right people taking their time and figuring it out. But let me pick up on something, Lynette said, Because it's actually really interesting. We have had a natural experiment and turning an economy off and turning an economy on and it seems To be doing, Um I'm going to say really well, right. Lots of government help and lots of people still really, um, displaced. But the report out from Congressional Budget office this week on economic growth at 6.7% for the year. Inflation. Not that big a deal settling by 2022. It seems so far so good. Yeah, it's almost feels too good to be true. You sort of think. What are we missing? What are we missing here? You know the two big ones for me. I'm keeping my eye on that inflation in particular rent prices. We all have seen the craziness in the housing market with multiple bids and stuff going for 100,000 or even a million above asking, But we're starting to see some of that craziness and the rent market with big surges and red prices. And so if that continues, that's a big chunk of people's budgets, and that's really going to hurt going forward and stay around. It won't be that transitory were the Fed gloves. The other thing that I keep my eye on. And I know you do, too. And Lynette as well is, um, hunger, food insecurity. We all remember those horrible lines that Thanksgiving, you know, with people hungry in this country, and what's surprised me and I wrote about this week more than 20 Million Americans are still say they don't have enough to eat each week, and that number has ticked up since late April. Despite all of this government aid we're debating if it's too much aid, we still seem to have an underbelly here of people that are really struggling, and in today's jobs report we saw long term unemployed is also rising. Yeah, so Leonard, I was going to ask you about that right because the number of long term unemployed 27 weeks or more actually went up in this most recent report, and that is that is not a great thing. No, it's not. Because the longer you stay out of the labor market, you know you lose skills less attractive to employers. What we have to hope is that employers are really truly getting desperate. And you know, if you want a job, we still have 6.7 million jobs to go. We have more workers than we have. Or we have more jobs than we have workers. So hopefully eventually those long term unemployed get pulled back into the labor market, but against we don't know. Is this experiment right? Right? Okay. Total change gears. And Lynette, I want to stay with you. And I wanna I wanna, um, user expertise on Wall Street and and the time you have spent reporting in that environment, and I don't want to get into the politics of this because that has been covered well and truly elsewhere. But President Trump's company and his chief financial officer were indicted yesterday. And I want your take based on your experience reporting on Wall Street if you were a banker, even thinking about doing business with the Trump organization. And they have been indicted for In essence, double bookkeeping. Um are you going to keep lending them money? Well, you know, it's funny that you say that because the second that this, uh, indictment came out and the details came out one of my sources. If it was a 30 year long track record on Wall Street text messaged me the portion of the indictment that that relates to that issue specifically and was like He's in trouble because this is a violation of the debt covenant that Donald Trump uses to stay liquid. He borrows money against his assets in order to have cash because in real estate, your assets are liquid. So, um If he is proven to have lied about The amount of money that you know all this stuff is actually worth that trips, potentially the debt covenants. He's supposed to refinance. Uh Hundreds of millions of dollars worth of debt in the in the coming years, and it's quite possible that he won't be able to do that, because he'll be in such poor shape with these banks. And so, um, this is the piece of of the complaint that really had My sources going. Whoops. Right, Right. Okay, Heather, Super quick, another slice of the politics of this economy that I wanted to point out and that you have raised Before this idea of the IRS and funding for the IRS. We have a huge tax gap in this country. Um, there was a report out this week from the IRS is national taxpayer advocate talking about the backlog of tax returns. And yet we don't fund tax collection in this country. And we got like 30 seconds for you to get this in. Basically, the key takeaway is the I. R s is a hot mess. Uh uh, You know, they have a 35 million backlog. They only answered fewer than 10% of the calls This year..

Donald Trump Lynette Leonard 2022 35 million 6.7% 30 seconds 100,000 40% 27 weeks 30 year Heather Heather Long Linette Lopez today late April IRS Trump Today Mitchell
"linette lopez" Discussed on Marketplace with Kai Ryssdal

Marketplace with Kai Ryssdal

07:45 min | 1 year ago

"linette lopez" Discussed on Marketplace with Kai Ryssdal

"Day of july as always to have you along everybody the news of this economy. This week has come from far and wide jobs. Of course today. There was news of economic growth in federal deficits. And the i word our own personal moratorium on that on this program notwithstanding various and sundry other things as well so much to talk about relatively little time in which to do it had long is at the washington post linette. Lopez is at business insider. Hey to so. Heather let me start with you. Obviously the jobs report out today under eight hundred and fifty thousand new jobs. The rate ticked up I think it was a tenth percent We got mitchell coming up later on on on some of the details but not a lot to to not like in this report right. Absolutely the big takeaway for me is if you raise. Wages workers will come. We saw that big boost and hiring in the hospitality sector. Basically forty percent of those job gains coming in restaurants and hotels and entertainment venues. And you know what that's where the biggest pay gains have come. It's really notable to me that restaurants For the first time ever now pay an average of fifteen in our that magic fifteen number and we've seen some of the fastest pay gains since the early nineteen eighties so the laws of economics are working also baseball movies because there's field of dreams reference. I'm linda lopez. What are you like in this report. I look a lot in the report. I like that you know the payroll gains are largest in low wage industries. So we're helping out the people who really need the help. And i think it's interesting that we're hearing from recruiters that there is no pickup in job searches in states where they've already kind off benefits for the unemployed. I think you this is a really interesting time in our economy where we're testing a lot of economic theories. It's not often that you shut off the economy in. Turn it back on so we can learn a lot of things from miss exercise And one thing that seems that we're learning is that human beings are super resilient americans figured out how to make do during the pandemic and now. They're taking their time to find another job. They're figuring out what they actually want to do. They're waiting for wages. That work for them. And i think i don't think that Economic lodge of necessarily states. That's something that would happen. You'd think people out of a job boo. We want to go back right away but now we figured out ways to make it work and so now people are taking their time to figure out. What's up and heather you've written about that. A lot of people taking their time and figuring it out but let me pick up on something limit said because it's actually really interesting. We've had a natural experiment and turning an economy off and turning an economy on and it seems to be doing. I'm going to say really well right. Lots of government help and lots of people still really displaced but the report out from congressional budget office this week on economic growth at six point seven percent for the year Inflation not that. Big a deal settling by twenty twenty two. It seems so far so good. Yeah it's almost feels too good to be true you sort of think. What are we missing. What are we missing here. The two big ones for me. I'm keeping my eye on that inflation. In particular rent prices we all have seen the craziness and the housing market with multiple bids and stuff going for one hundred thousand or even a million above asking. But we're starting to see some of that craziness in the rent market with big surges and rent prices and so if that continues that's a big chunk of people's budgets and that's really gonna hurt going forward and stay around. It won't be that transitory word. The fed loves the other thing. That i keep my eye on. And i know you do too and lynette as well is Hunger food attorney. We all remember those horrible lines at thanksgiving You know with people hungry in this country. And what surprised me and i wrote about this week More than twenty million americans are still saying. They don't have enough to eat each week. And that number has ticked up since late april. Despite all of this government aid were debating. If it's too much aid we still seem to have an underbelly here of people that are really struggling and incidates jobs report. We saw long-term unemployed is also rising so linnet. I was gonna ask you about that right. Because the number of long term unemployed twenty seven weeks or more actually went up in this most recent report and that is that that is not a great thing. Now it's not because the longer you stay out of the labor market you skills less attractive to employers what we have to hope is that employers are really truly getting desperate and you know if you wanna job we still have six point. Seven million jobs to go. We have more workers than we have or we have more jobs than we have workers so hopefully eventually those long term unemployed get pulled back into the labor mark against we don't knows experiment road right. Total change gears and lynette. I wanna stay with you. And i want to. I want to use your expertise on wall street. And and the time you've spent reporting in that environment. And i don't wanna get into the politics of this because that has been covered well and truly elsewhere but president trump's company and his chief financial officer were indicted yesterday. And i want your take based on your experience reporting on wall street if you're a banker even thinking about doing business with the trump organization and they have been Indicted for in essence double bookkeeping. Are you going to keep lending them money. Well you know it's funny that you say that because the second that this indictment came out and the details came out at one of my sources who was a thirty year long track record on wall street tack message me the portion of the indictment that that relates to that issue specifically and was like. He's in trouble. Because this is a violation of the debt covenants that donald trump uses to stay liquid. He borrows money against his assets in order to have cash because in real estate your assets are liquid so if he is proven to have lied about the amount of money that you know all the stuff is actually worth that trips potentially the covenants. He's supposed to refinance hundreds of millions of dollars worth of debt in in the coming years and it's quite possible but he won't be able to do that because he'll be in such poor shape with these banks and so This is the piece of of the complaint that really had my sources gone. Looks right okay. Heather super-quick another slice of the politics of this economy. That that i wanted to point out and that you have raised before this idea of the irs and funding for the irs. We have a huge tax gap in this country. There was a report out this week. From the irs is National taxpayer advocate talking about the backlog of tax returns and yet we don't fund tax collection in this country and we got like thirty seconds to get this in basically the key takeaways. The irs is a hot mess. Thirty five million backlog. They only answered fewer than ten percent of the calls this year. I would like to only answer ten percent of my job a lot easier and now we're asking them to crack down on tax teens. Implement these new big tech tax laws and starting this month send checks to millions of families for the child tax credit. Good luck heaven. Help us heather long. At the washington post linette lopez business insider have good weekend you to enjoy the fourth. If you're off you too. Thanks on wall street today heading into that holiday weekend. There was some exuberance actually. Hopefully not irrational..

linette linda lopez Heather washington post Lopez mitchell president trump baseball lynette linnet heather fed irs donald trump heather long linette lopez
"linette lopez" Discussed on KCRW

KCRW

07:10 min | 1 year ago

"linette lopez" Discussed on KCRW

"Of this economy this week. Has come from far and wide jobs. Of course, Today, there was news of economic growth in federal deficits and the I word our own personal moratorium on that on this program notwithstanding. Various and sundry other things as well. So much to talk about relatively little time in which to do it. Heather Long is it The Washington Post? Linette Lopez? Is that business insider? Hey, you too, Okay. So, Heather, Let me start with you. Obviously, the jobs report out today under 850,000 new jobs, the rate ticked up. I think it was 1/10 percent. Uh, we got Mitchell coming up later on on on some of the details, but not a lot to not like in this report, right? Absolutely. The big takeaway for me is if you raise wages workers will come. We saw that big boost and hiring in the hospitality sector. Basically, 40% of those job gains coming in restaurants and hotels and entertainment venues. And you know what? That's where the biggest pay gains have come. It's really notable to me that restaurants for the first time ever now pay an average of 15 an hour that magic 15 number. And we've seen some of the fastest pay games since the early 19 eighties. So the laws of economics are working. Also baseball movies because there's your field of dreams Reference, Linette Lopez. What do you like in this report? Um I like a lot in the report. I like that. Uh, you know, the payroll gains are largest in low wage industries. So we're helping out the people who really need the help and I think it's interesting that we're hearing from recruiters that there is no pick up in job searches in states where they've already cut off benefits for the unemployed. I think you know this is a really interesting time in our economy, where we're testing a lot of economic theories. It's not often that you shut off the economy and turn it back on so we can learn a lot of things from this exercise. And one thing that seems that we're learning is that human beings are super resilient. Americans figured out how to make do during the pandemic, and now they're taking their time to find another job. They're figuring out what they actually want to do. They're waiting for wages that work for them, And I think I don't think that economic logic necessarily states that that's something that would happen. You think people out of a job boom. We want to go back right away, but no We figured out ways to make it work. And so now people are taking their time to figure out what's up. And Heather. You've written about that a lot, right people taking their time and figuring it out. But let me pick up on something, Lynette said, Because it's actually really interesting. We have had a natural experiment and turning an economy often turning an economy on and it seems To be doing, Um I'm going to say really well, right. Lots of government help and lots of people still really, um, displaced. But the report out from Congressional Budget office this week on economic growth at 6.7% for the year. Inflation. Not that big a deal settling by 2022. It seems so far so good. Yeah, it's almost feels too good to be true. You sort of think. What are we missing? What are we missing here? You know the two big ones for me. I'm keeping my eye on that inflation in particular rent prices. We all have seen the craziness in the housing market with multiple bids and stuff going for 100,000 or even a million above asking, But we're starting to see some of that craziness and the rent market with big surges and red prices. And so if that continues, that's a big trunk of people's budgets, and that's really going to hurt going forward and stay around. It won't be that transitory word. The Fed loves the other thing that I keep my Iowa and I know you do, too. And Lynette as well is hunger, food insecurity. We all remember those horrible lines at Thanksgiving. Uh, you know, with people hungry in this country, and what surprised me and I wrote about this week more than 20 million Americans. And that number has ticked up since late April. Despite all of this government aid we're debating if it's too much aid, we still seem to have an underbelly here of people that are really struggling. And in today's jobs report we saw long term unemployed is also rising. Yeah, so, Lynette, I was gonna ask you about that right because the number of long term unemployed 27 weeks or more actually went up in this most recent report, and that is that is not a great thing. No, it's not. Because the longer you stay out of the labor market, you know you lose skills less attractive to employers. What we have to hope is that employers are really truly getting desperate. And you know, if you want a job, we still have 6.7 million jobs to go. Um, we have more workers than we have, or we have more jobs than we have workers. So hopefully eventually those long term unemployed get pulled back into the labor market. But Against? We don't know It's this experiment. Right? Right. Okay. Total change gears. And Lynette, I want to stay with you. And I wanna I wanna, um, user expertise on Wall Street and and the time you have spent reporting in that environment, and I don't want to get into the politics of this because that has been covered well and truly elsewhere. But President Trump's company and his chief financial officer were indicted yesterday. And I want your take based on your experience reporting on Wall Street if you were a banker, even thinking about doing business with the Trump organization. And they have been indicted for In essence, double bookkeeping. Are you going to keep lending them money? Well, you know, it's funny that you say that because the second that this uh, an indictment came out and the details came out one of my sources who was a 30 year long track record on Wall Street text message me the portion of the indictment that that relates to that issue specifically and was like He's in trouble because this is a violation of the debt covenants that Donald Trump uses to stay liquid. He borrows money against his assets in order to have cash because in real estate, your assets are liquid. So, um, if he is proven to have lied about The amount of money that you know all this stuff is actually worth that trips, potentially the debt covenants. He's supposed to refinance. Uh Hundreds of millions of dollars worth of debt in the in the coming years, and it's quite possible that he won't be able to do that, because he'll be in such poor shape with these banks. And so, um, this is the piece of of the complaint that really had My sources going. Whoops. Right, Right. Okay, Heather, Super quick, another slice of the politics of this economy that I wanted to point out and that you have raised Before this idea of the IRS and funding for the IRS. We have a huge tax gap in this country. Um, there was a report out this week from the IRS is national taxpayer advocate talking about the backlog of tax returns. And yet we don't fund tax collection in this country. And we got like 30 seconds for you to get this in. Basically, the key takeaway is the I. R s is a hot mess. Uh, you know, they have a 35 million backlog. They only answered fewer than 10% of the calls This year..

Lynette Linette Lopez Donald Trump 30 year 2022 Heather 40% 35 million 6.7% 100,000 30 seconds 27 weeks late April today 1/10 percent Mitchell yesterday Heather Long this week Thanksgiving
"linette lopez" Discussed on Pivot

Pivot

07:54 min | 1 year ago

"linette lopez" Discussed on Pivot

"Okay scott wins and fails danon. What do you have anything. i don't die. Don't they don't have any wizar- fails i think. I think i was glad. Facebook made its decision. I think as usual it was qualified. So i guess i'll give them a win for finally doing the right thing that everyone else has been suggesting forever so i guess that's kind of a win. What's it called like. That commentator is that commentators glad that they did it but that commentator also thinks what the fuck took so long That's what i wouldn't. I would say so. My win is Global cooperation or super powers a species. i'm real excited about this g seven tax treaty My fail is i think one of the signals of atop or win economy comes vulnerable to a crash versus a correction is really poor corporate governance. And you see how it happens when everyone's partying and everyone's making money and when at the same time you couple that with our we diminish our institutions under sec doj and this gross idolatry of innovators. We lead to Company's totally disregarding corporate governance and i think you see it around mark manipulation from ulan moss. It's happening everywhere. Company called coin base has to insiders not independent directors now on its audit committee and the audit committee. If you're on a board there's always a dude in his sixties who thinks he understands business and pontificates and you have to remind a. You're just here because you're in a partner accounting firm in your the audit of our. You're the chairman of the audit committee and that person plays a really important role because their job is to be the source of truth and go. No we're not going to give into temptation to juice the stock and start double-counting revenues. There's all kinds of games. shenanigans. You can play. In terms of what. The audit committee approves or doesn't approve. In terms of how affirm accounts for reports its earnings so under armor was found pulling revenues ford because they want the stock across the cheesecake factory by the way all this a wonderful article by linette lopez from the business insider cheesecake. Factory was basically flooding their numbers. And you're seeing you see. This is just being set up everywhere. Coin base has to insiders on their audit committee. That is totally not cool. Why because they're lockup so are they going to be sober and detroit about releasing accurate information. Are they gonna wait. 'til they're lockups over and they've sold their stock. Yeah you have tear check this shit out ocalan tier check this shit out. The had talents here is taking shareholder money and investing tens of millions of dollars in back in exchange for that company signing a long term contract with that money with jalan tier. And you think well what's wrong with that. That's an innovative way to finance customers. What's wrong with that is shareholders pailin. Here don't eat. Pollen tear buying for them. They can do that on their own. And what that does that creates related party transactions which were everywhere nineteen ninety nine it says paletta is not able after seventeen years as a company never turned a profit to grow its revenues organically just based on the value of its product. It's gotta lend people money by the way spac salote spectrum won't be around and so it creates is related party transactions that would stick. It's real you don't have a correction. You had a crash. Yeah so poor. Corporate governance all these financial engineering. What it does is it sets up an economy such that when things get ugly they got really ugly really fast and i do think that the corporate governance here is indicative of a top where we've decided well as long as the lights. Don't come on as long as the music's good we're going to ignore that. There's someone convulsing in the men's room where i got that. Anyways that was i guess i it's called the tuesday night at trillionaire house So i i think there's a lot of poor governance here at these companies. And i think the sec. Do we need guardrails. I think it's out of control. I mean it. My census michael milkin went to jail for less than what a lot of. This is going on here so and it. It indicates in addition to all the ratios. We look at whether it's the multi want earnings the percentage of gdp controlled by private About the stock market all these things are reminiscent of two thousand and eight hundred. Ninety nine is really poor. Corporate governance where companies are not acting fiduciaries such that they can keep their stock high until they get out. That's my that is excellent fail. I would agree with that. This is not a new issue but it sort of becomes. I think the levels of our temperature just like the planet get raised and raised and we adapt to them and just with john was talking about is the the constant horrify. -cation that these people bring to the table. Just makes you feel like okay. They're doing that now okay. They're doing that now. And you get really you get numb to it. I mean one of the things that happens is the as they raise the stakes. You becomes more normal to be thinking in crazy ways and therefore marjorie taylor. Green gets elected right now. I wanna here's the fail. I think twenty two people running for congress believed the election. Li- like have like a running on xtra was stolen. Like why would you run for office. If you think elections are stolen and of course the minute they get elected they would they. Those elections will not be stolen but It's really it. You can't tolerate what these kind of things you absolutely cannot tolerate this kind of stuff When you're when you're looking at it because it does as as as there's a really good new york times about the actual impact of donald trump's when trump was banned on social media. Well it did. Lower the temperature quite a bit. He's still you know. They have in october twentieth statements without half a million total leg. So we'd make a statement and they get lots of fifty three thousand shares on facebook or two hundred and forty eight thousand likes and re tweets if he said something crazy but now in march two thousand twenty one statement has has close to the same in other places because they've got donald trump fan page breitbart fox news. I love my freedom. There's one call jenna. Ls for like it doesn't stop proliferating just because the main source of the disease is gone and they they quote their statements. You know what. I mean they quote. There's whether it's newsmax or fox and friends or whatever it is and then people who are against him quote them to and and make world around so so. That's i think you're right. I think you're right that we can be. This is a really big topic and is it important. one in. it's quite doing this week. Cara this week. I am I don't know things. I'm podcast in. I'm doing all kinds of stuff. And i will be working on the co conference. I got you someone. I'm not gonna tell you who it is good. I'm not gonna tell you here. We're not gonna announce it yet but because it's not done done but someone you wanted interview and i go. What does that mean. I got someone that you wanted to interview for you. What barbara eden barbara eden. Yes you angrier. Grants pam isn't finally. I know pam grier by the way roy. Yes i do. She was on the lovely lovely person. She was a lovely prison. So i didn't know very well just met briefly In any case we will be. We'll be back on thursday. 'cause there's going to be a lot more news. Newsy week apple just add. It's had its big event when you talk about that a little bit more and we can go from there. It's a lot of small things but there's a ton of stuff they do. That was sort of innovative. And yet they're still involved in all kinds of regulatory problems in cases. anyway scott. that's the. It is a very hefty show. We'll be back on friday for more go to n. y. Dot com slash pivot to submit your question for the pivot. Podcasts link is also in our show notes scott. Can you read us out today. Show is produced by rebecca.

Facebook linette lopez michael milkin trump marjorie taylor donald trump today two thousand danon congress friday new york tuesday night twenty two people facebook october twentieth john scott thursday eight hundred
Biden’s Budget Sees Low Inflation, Rising Debt and Slow Economic Growth

Marketplace with Kai Ryssdal

01:30 min | 1 year ago

Biden’s Budget Sees Low Inflation, Rising Debt and Slow Economic Growth

"Lots happening this week and lots happening in the next couple of weeks and months. Ed so let us discussing the. Richardson is at adp. Linette lopez is at business insider. Everybody everybody is really just the three of us Okay so look. Neil let me start with you and i know preface the question by observing that. The white house today as expected dropped. The president's budget request For the coming fiscal year six trillion dollars. A lot of money will get into that. I wanna talk though about His projections the white house. Economists projections really for economic growth. In the out years two percent which is not as robust as say the prior administration had been thinking the economy would grow. Why do you think they're being conservative like that. Because it's the truth. Actually it's revocation. And all i know i know truth but it is the gravitational pull of the economy. Look let's set aside the post pandemic recovery. 'cause that's a story in itself. Ten years of expansion before the pandemic was at an average pace of two point three percent the power of that longest expansion in us history had been. It's slow growth. Low inflation characteristics once we get through this recovery. That's exactly right back to where we're going. Slow growth in the out years around two percent and even further out maybe one and a half percent that is the trajectory unless we make some interesting investments that will pay off long term.

Linette Lopez White House ADP Richardson Neil ED United States
"linette lopez" Discussed on 90.3 KAZU

90.3 KAZU

07:49 min | 2 years ago

"linette lopez" Discussed on 90.3 KAZU

"H. I think of this economy going into cold storage good as always to have you along everybody we're gonna jump right in with the week that was because once again it was a doozy Neil Richardson is at Edward Jones Linette Lopez is at business insider everybody hi Carol hi guys so Neil let me start with you and I want to go back a couple of days to this report from the International Monetary Fund sing the global economy was going to shrink this year by three percent and then in that same report they said you know we're looking at a rebound in twenty twenty one and I want to know if you as the trainer columnist on this radio show today by that that's a hard one I I think when we look at twenty twenty we expected a global rebound from the for the year in January the stock at the trade agreement remember that last year that was a big crisis we have twenty nineteen the trade agreement between the US and China would be a tailwind for global growth more broadly and so when the World Bank is basically saying is that a bit nineteen just puts the world on ponds we're here and it restarts in twenty twenty one I do think that the world looks better in twenty twenty one but it I think it's going to be a hard let's take it to a three percent GDP gross globally in twenty twenty one given everything that's going on right now right right we'll just we'll just note here the the varying sound quality here this being live rated by the world their own from our living rooms let let me ask you to turn to China here for second we're doing some shine in the rest of the program but we have to point out that what had been one of the fastest growing economies in the world shrank last quarter by almost seven percent it's pretty clear we're not going to get them the Chinese to help drive us out of this lockdown right not only that but the Chinese are caught counting on us to help them to get their echo back on track and fill an export automate now the Chinese are worried because we're not going to be buying as many of their guides so the whole world is stuck in a funk nobody is going to be a healthy guy that drags everybody through this we're all going down together and it's interesting that to me that we're in a in a moment where world leaders can't really detect collect around anything but we each other more than ever we need each other to be able more than I'd like to be able to get out of it well solar bill on that thought of us needing each other more than ever let's apply that domestically here for a second and the idea that Congress now we've exhausted that three hundred fifty billion dollars in the small business administration loan program the Senate and the house are out on recess and cannot come to terms on what to do next if you're at an American business person what what are you planning for because the uncertainty it seems gets worse every day in this crisis right right so you have the plan in process right so luckily we have another outlet which is the the federal reserve has I thought they were holding meetings and chaired house a garage because they were throwing out so many kitchen sinks at this problem they have done everything before and probably some things that I haven't thought about to address this problem and really to make sure that credit flows to households and consumers around Congress and around leveraging some of the congressional moves as well and and let's remember that banks are actually going to be part of the solution here instead of the heart problem as they were in two thousand eight thank balance sheets are very strong very solid after ten years of regulation so there is some help still flowing even as Congress is on recess for right now let let me ask you a this is look this is in a way it's a scary question it's a little bit cynical but it's something that's been on my mind so yes the fed is going great guns and doing what it can part of what it's able to do it is because it has the backing of the treasury and and some approvals by the Congress do you suppose though that it's possible that this crisis accelerated so quickly as Congress can't come to terms that it that it exceeds the capacity of the American government to fix well it depends on how much Americans themselves get on that payment and things like that and it depends on the whole but the federal government needs to speak and that debate that you're talking about in Washington but not right now is that Republicans want to send money to the small business administration program that and helping small businesses with their pain while and at the same time Democrats want to send money to the state and to hospitals that have been dealing with this problem the front light Republicans don't want to do it there is they don't want to send emergency fund the state hospital which is I just don't understand have to be an ideological thing we're going to get ideological here we're all going to be trouble all because it that this is a problem that is going to require creative thinking outside any problem that that helped create the American people and it cannot be quiet about the economy into different stages one is what is the whole clock town pretax econ of Iraq's economy going to look like the one we have to shift workers to contractor you think they're going to have to worry about protecting peach people had to be stopped but that that might be a completely different account in each and then we have to think of how to transition economy from what he called me into a post back economy which is an attempt to really truly normalize our wild and no I you know ideology belong to any of that discussion because if you don't increase the size of the federal government or state government or any government you can't get from the he waxing phase the protracted debate Miller Miller real quick and and I mean like thirty seconds hello it is fundamentally a discussion once again of the role of government in this economy right overall our government right now is the prime the pump right we know that things are going to get worse before they get better and we just started the social convenient and right March we're seeing the effects of that and Americans now that invention what will get better because we're also seeing progress in testing and interventions and accidents in treatment it's a hard world road tell then but look what already the American people have gotten shut down an economy voluntarily to attack head on health crisis that was projected just a few short work weeks ago to be much worse than it is already turning out to be and so in that sense there was hope that we have enough ingenuity among us all to combat this crisis and to get it together will end on the admiral Richardson at Edward Jones let it Lopez with the here here at business insider thanks you too I appreciate it thank you all hi stay safe wash your hands on Wall Street this Friday look there's a certain detachment from reality going on here that's about all I can say will have the details when we do the numbers it's possible likely perhaps but we don't really know yet that this.

Neil Richardson Edward Jones Linette Lopez
"linette lopez" Discussed on WNYC 93.9 FM

WNYC 93.9 FM

07:52 min | 2 years ago

"linette lopez" Discussed on WNYC 93.9 FM

"We like five issue I think of this economy going into cold storage good as always to have you along everybody we're gonna jump right in with the week that was because once again it was a doozy Neil Richardson is at Edward Jones Linette Lopez is at business insider everybody I can't hi guys so Neil let me start with you and I want to go back a couple of days to this report from the International Monetary Fund sing the global economy was going to shrink this year by three percent and then in that same report they said you know we're looking at a rebound in twenty twenty one and I want to know if you as the trainer columnist on this radio show today by that that's a hard one I I think when we look at twenty twenty we expected a global rebound from the for the year in January we saw that the trade agreement remember that last year that was a big crisis we have twenty nineteen the trade agreement between the US and China would be a tailwind for global growth more broadly and so when the World Bank is basically saying is that a bit nineteen just puts the world on ponds we're here and it restarts in twenty twenty one I do think that the world looks better in twenty twenty one but I think it's going to be hard left to get to three percent GDP growth globally in twenty twenty one given everything that's coming out right now right right we'll just we'll just note here that the varying sound quality here this being live rated by the world their own from our living rooms let let me ask you to turn to China here for second we're doing some shine in the rest of the program but we have to point out that what had been one of the fastest growing economies in the world shrank last quarter by almost seven percent it's pretty clear we're not going to get them the Chinese to help drive us out of this lockdown right not only that but the Chinese are clock counting on us to help them to get there back on track and fill an export automate now the Chinese are worried because we're not going to be buying as many of their god but the whole world is stuck in a funk nobody is going to be a healthy guy that drags everybody through this we're all going down together and it's interesting that to me that we're in a in a moment where world leaders can't really detect collect around anything from each other more than ever we need each other to be able more than I'd like to be able to get out of it well solo deal on that thought of us needing each other more than ever let's apply that domestically here for a second and the idea that Congress now we've exhausted that three hundred fifty billion dollars in the small business administration loan program the Senate and the house are out on recess and cannot come to terms on what to do next if you're at an American business person what what are you planning for because the uncertainty it seems gets worse every day in this crisis right but still you have the plan in process right so luckily we have another outlet which is that the federal reserve has I thought they were how holding meetings and chaired house a garage because they were throwing out so many kitchen sink that this problem they have done everything think of auction probably some things that I haven't thought about to address this problem and really to make sure that credit flows to households and consumers around Congress and around leveraging some of the congressional moves as well and and let's remember that thanks are actually going to be part of the solution here instead of the heart problem as they were in two thousand eight bank balance sheets are very strong very solid after ten years of regulation so there is somehow still flowing even as Congress is on recess for right now let let me ask you a this is look this is in a way it's a scary question it's a little bit cynical but it's something that's been on my mind so yes the fed is going great guns and doing what it can part of what it's able to do it is because it has the backing of the treasury and and some approvals by the Congress do you suppose though that it's possible that this crisis accelerates so quickly as Congress can't come to terms that it that it exceeds the capacity of the American government to fix well it depends on how much height and their contents out of debt on debt payments and things like that and it depends on the whole but the federal government needs to face a lack of basic you're talking that much you can go online right now is that Republicans want to send money to the small business administration program and helping small businesses with their pay while and at the same time Democrats want to send money to the state and to hospitals that have been dealing with this problem the front light Republicans don't want to do it there is they don't want to send emergency fund which is I just don't understand have to be an ideological fight we're going to get ideological here we're all going to be all because it that this is a problem that is going to require creative thinking outside any problem that that helped create the American people and it cannot be quiet you think about the economy into different stages one is what is the whole flock sounds pretty back three one of Iraq's economy going to look like seventy one but we have to shift workers to contractor you think they're going to have to ramp up testing peach people have if you thought about going to be a completely different account in each and then we have to think of how to transition economy from dot com into a post back economy which is an attempt to really truly normalize our well and there's no idea no ideology belongs in any of that discussion because if you won't increase the size of the federal government or state government or any government you can't get from the he waxing phase the protracted great Miller Miller real quick and and I mean like thirty seconds hello it is fundamentally a discussion once again of the role of government in this economy right overall our government right now is the prime the pump right we know that things are going to get worse before they get better and we just started the social convenient in late March we're seeing the effects of that and Americans now that invention what will get better because we're also seeing progress in testing and innovations in vaccines and treatments it's a hard world rotel bad but look what already the American people have died shut down an economy voluntarily to attack head on health crisis that was projected just a few short work weeks ago to be much worse than it is already turning out to be and so in that sense there was hope that we have enough ingenuity among us all to combat this crisis and to get her to get will end on the up near Richardson at Edward Jones let Lopez with the here here at business insider thanks you too I appreciate it Bangalore hi stay safe wash your hands on Wall Street this Friday look there's a certain detachment from reality going on here that's about all I can say will have the details when we do the numbers it's possible likely perhaps but we don't really know yet that this pandemic.

Neil Richardson Edward Jones Linette Lopez
"linette lopez" Discussed on 90.3 KAZU

90.3 KAZU

07:40 min | 3 years ago

"linette lopez" Discussed on 90.3 KAZU

"Is in turmoil there were plenty of reminders this week that the US economy is holding pretty steady thanks once again to the American consumer we've got to may a canes with the economist with me here in Washington and Linette Lopez with business insider at our New York studio to discuss this and more hi you too hello Hey how's it going great so may I let's start with the hearings here in Washington yeah not the ones everyone's talking about fed chair J. Powell testified in the house and Senate on the outlook for the American economy what did you take away from those sessions I think the thing I took away was basically the same message that we got from off to the lost fed meeting right and and essentially it is that the ball for another interest rate cut is pretty high the economy is sort of in in the place that they were expecting and and if if the economy starts going down hill if you start to see a much west outlook and they're expecting them that could lead to another cut but for now it's kind of where they want it to be I you know good consumer spending okay business investment is maybe a bit softer than they would want but you know that that that one is is going ahead as as scheduled yeah it again Lynette I am this is more of the same story with Nick hearing businesses aren't doing much investing it's really American consumers who are fueling this economy any signs of that slowing down I'm we've had some tracking numbers like last month's retail sales numbers or earlier this fall they were not looking great but got strong numbers today and we've got you know we've got data that looks good we've got data that looks weird the fed seems pretty confident and and I think one thing that how did in his hearings last couple days was speak a little bit more frankly than he has been speaking at hearings before maybe the the president was watching another hearing finally found is operated yeah he could he could just you know say what he wanted and in peace and one thing that he said of course was that trade was the thing that was really adding a lot of uncertainty to this economy in which means that it's the president's White House is adding in certainty to this economy and kind of shaking the table one thing that caught my attention was how he talked about the economy kind of finally working for people at the bottom of the income ladder you know that the strong this wage gains have been for lower paid workers you know he's knowledge there are still gaps for people of color people in rural communities but some may are there more signs that the wealth is perhaps being shared more broadly yeah I mean there's really good evidence that essentially hot economy is on a very good and disproportionately good for folks who already on the margins of that market so the unemployment rate will full fastest fella I African Americans I'm in in the kind of a hostess point if the recovery and so so that is that is really positive I think one of the other things that that Jay Powell said at the the testimony was that you know that that fiscal policy should you know have had more to do that there was lots of reasons why people want in the labor force that reading monetary policy couldn't actually help with and and my response to that was was yes that's that's true enough monetary policy is is so blunt that it caught ready help very much with people who edited to opioid so with that kind of thing but hot economies all very very good for you know guru Buck is and so you know one shouldn't forget that right yeah the the responsibility to just couldn't get the economy as as hot as you responsibly Karen is still really important well what about that Lynette I mean we you mentioned the retail numbers they're out today which were better than expected but still you know only three tenths percent growth and they're being sort of portrayed as as a little good news a little bad news I mean what kind of weaknesses do you see and in that spending I mean consumer as long as as long as businesses keep hiring at the same clip it don't the the the data to calm is deliberate at to see if people are still hiring for the same amount of hours if wages are still going up are we still and and again that's that's a lagging indicator but I think that's what people are gonna be watching we're gonna be watching of Americans have jobs and of course we're watching credit you know how how much that our American seeing on can we still service that debt yeah I'm if the fed doesn't raise rates that makes it easier it looks like pals gonna hold steady so that's that's probably good for people who yeah that is good for people who are you have auto loans and and home loans and stuff like that took everyone's gonna be watching that everybody's he of course going to be watching the church the trade war it seems like we're exactly where we were with that I at the same time as we would like it it looks like we are and December twenty eighteen you know we're fighting with China for some kind of cessation of hostilities instead of drilling in on major issues we may or may not have an auto terrace on our hands you know it's just the same story over and over again and that isn't helping business investment that isn't helping corporations not helping small businesses and it's it's a threat to the to the economy all right we got it and there's americain's with the economist Linette Lopez of business insider thank you both so much have a great weekend you too thanks you too on Wall Street today traders went into the weekend on a high note we'll have the details when we do the numbers one piece of the retail numbers that caught our collective I'd today furniture sales they were down almost one percent last month the biggest drop since December last year and terrorists are a big part of the story market place's indie you'll has more last year Beijing shipped thirty four billion dollars were the furniture here stuff like bedroom sets and couches those imports were hit with a ten percent tax in September of twenty eighteen jump to twenty five percent in may but Michael sposi an economics professor at Southern Methodist University in Dallas says it's not just those direct tariffs hurting furniture sales era supplied to in industry like metals steel and aluminum the cost structure the furniture industry to get around the terror of some furniture stores have changed where they get things may shipments of furniture from China to the US fell by a third from September twenty eighteen to September twenty nineteen according to pan Jeeva a committed tracks the flow of goods overseas shipments from Vietnam where terrace aren't imposed increased by more than half but mark Schumacher with the home furnishings association says changing your supply chain doesn't happen overnight every retailer is different but one thing is true for all of them is they can't pivot on a dime when it comes to you know to what they have available in their in their warehouses he says some retailers past the terrace on to consumers by hiking prices and bill McLachlan editor of the trade magazine furniture today says everyone down the line has to be prepared for tighter margins if the retailer each a percentage of the manufacturer each a percentage by the time the product ultimately gets the consumer they're not seeing a significant increase he says the larger furniture outlets should be okay but a mom and pop furniture store in rural Georgia might not be able to hold out I'm a dealer.

Washington Linette Lopez US New York thirty four billion dollars twenty five percent one percent ten percent
"linette lopez" Discussed on KQED Radio

KQED Radio

07:53 min | 3 years ago

"linette lopez" Discussed on KQED Radio

"Is in turmoil there were plenty of reminders this week that the US economy is holding pretty steady thanks once again to the American consumer we've got to may I canes with the economist with me here in Washington and Linette Lopez with business insider at our New York studio to discuss this and more high you too hello how they don't great so may I let's start with the hearings here in Washington yeah not the ones everyone's talking about fed chair J. Powell testified in the house and Senate on the outlook for the American economy what did you take away from those sessions I think the thing I took away was basically the same message that we got from off to the lost fed meeting right and and essentially it is that the ball for another interest rate cut is pretty high I the economy is sort of in in the place that they were expecting and and if if the economy starts going down hill if you start to see a much west outlook and they're expecting them that could lead to another cut but for now it's kind of where they want it to be I you know good consumer spending okay business investment is maybe a bit softer than they would want but you know that that that the plan is is going ahead as as scheduled yeah it again Lynette I am this is more of the same story within hearing businesses aren't doing much investing it's really American consumers who are fueling this economy any signs of that slowing down I'm we've had some tracking numbers like last month's retail sales numbers or earlier this father were not looking great but not strong numbers today and we've got you know we've got data that looks good we've got tired of it looks weird the fed seems pretty confident and and I think one thing that how did in his hearings last couple days was speak a little bit more frankly than he had been speaking in hearings before maybe the the president was watching another hearing finally found is operated yeah he could he could just you know say what he wanted and in peace and one thing that he said of course was that trade was the thing that was really adding a lot of uncertainty to this economy in which means that it's the president's White House is adding uncertainty to this economy and kind of shaking the table one thing that caught my attention was how he talked about the economy kind of finally working for people at the bottom of the income ladder you know that the strongest wage gains have been for lower paid workers you know he's knowledge there are still gaps for people of color people in rural communities but to me are there more signs that the wealth is perhaps being shared more broadly yeah I mean there's really good evidence that essentially hot economies are a very good and disproportionately good for folks who are really on the margins of that market so the unemployment rate will full fastest fella I African Americans eat in in the kind of a hostess point if the recovery and so so that is that is really positive I think one of the other things that that Jay Powell said at the the testimony was that you know that that fiscal policy should you know have had more to do that that would lots of reasons why people want in the labor force that reading monetary policy couldn't actually help with and and my response to that was was yes that's that's true enough monetary policy is is so blunt that it caught ready help very much with people who are addicted to opioids it with that kind of thing but what economies all very very good for you know for a Buck is and so you know one shouldn't forget that right yeah the the responsibility to just couldn't get the economy as as hot as you responsibly Karen is still really important well what about that Lynette I mean we you mentioned the retail numbers they're out to day which were better than expected but still you know only three tenths percent growth and they're being sort of portrayed as as a little good news a little bad news I mean what kind of weaknesses do you see and in that spending I mean consumer as long as as long as businesses keep hiring at the same clip it the the the the data to calm as the labor data to see if people are still hiring for the same amount of hours if wages are still going up are we still and and again that's that's a lagging indicator but I think that's what people are gonna be watching we're gonna be watching of Americans have jobs and of course we're watching credit you know how how much that our American seeing on can we still service that debt yeah if the fed doesn't raise rates that makes it easier it looks like pals gonna hold steady so that's that's probably good for people who yeah that is good for people who are you have auto loans and and home loans and stuff like that took everyone's gonna be watching that everybody should of course going to be watching I'm the chief the trade war it seems like we're exactly where we were with that at the same time as we like it it looks like we are and December twenty eighteen you know we're fighting with China for some kind of cessation of hostilities instead of drilling in on major issues we may or may not have an auto terrace on our hands you know it's just the same story over and over again and that isn't helping business investment that isn't helping corporations not helping small businesses it's it's a threat to it to the economy all right we got it and there is americain's with the economist Linette Lopez of business insider thank you both so much have a great weekend you too thanks you too on Wall Street today traders went into the weekend on a high note we'll have the details when we do the numbers one piece of the retail numbers that caught our collective I'd today furniture sales they were down almost one percent last month the biggest drop since December last year and terrorists are a big part of the story market place's indie you'll has more last year Beijing shipped thirty four billion dollars worth of furniture here stuff like bedroom sets and couches those imports were hit with a ten percent tax in September of twenty eighteen at ten to twenty five percent in may but Michael sposi an economics professor at Southern Methodist University in Dallas says it's not just those direct tariffs hurting furniture sales supplied to in industry like metals steel and aluminum affect the cost structure of the furniture industry to get around the terror of some furniture stores have changed where they get things may shipments of furniture from China to the US fell by a third from September twenty eighteen to September twenty nineteen according to pan Jeeva a committed attracts the flow of goods overseas shipments from Vietnam where terrace aren't imposed increased by more than half but mark Schumacher with the home furnishings association says changing your supply chain doesn't happen overnight every retailer is different but one thing is true for all of them is they can't pivot on a dime when it comes to you know to what they have available in their in their warehouses he says some retailers past the terrace on to consumers by hiking prices and bill McLaughlin editor of the trade magazine furniture today says everyone down the line has to be prepared for tighter margins if the retailer each a percentage of the manufacturer each a percentage by the time the product ultimately gets to the consumer they're not seeing a significant increase he says the larger furniture outlets should be okay but a mom and pop furniture store in rural Georgia might not be able to hold out I'm a dealer for market place we've got more on the news of the week sonic the hedgehog Milt alternatives that robots also recommendations from listeners like you it's all in our make me smart newsletter go to.

Washington Linette Lopez US New York thirty four billion dollars twenty five percent one percent ten percent
"linette lopez" Discussed on WNYC 93.9 FM

WNYC 93.9 FM

05:59 min | 3 years ago

"linette lopez" Discussed on WNYC 93.9 FM

"You with us well the U. S. political system is in turmoil there were plenty of reminders this week that the US economy is holding pretty steady thanks once again to the American consumer we've got to may I canes with the economist with me here in Washington and Linette Lopez with business insider at our New York studio to discuss this and more high you too hello Hey how's it going great so may I let's start with the hearings here in Washington yeah not the ones everyone's talking about fed chair J. Powell testified in the house and Senate on the outlook for the American economy what did you take away from those sessions I think the thing I took away was basically the same message that we got from off to the lost fed meeting right and and essentially it is that the ball for another interest rate cut is pretty high I the economy is sort of in in the place that they were expecting and and if if the economy starts going down hill if you start to see much west outlook and they're expecting then that could lead to another cut but for now it's kind of where they want it to be I you know good consumer spending okay business investment is maybe a bit softer than they would want but you know that that that the plan is is going ahead as as scheduled yeah it again Lynette I'm this is more of the same story with hearing businesses aren't doing much investing it's really American consumers who are fueling this economy any signs of that slowing down I'm we've had some tracking numbers like last month's retail sales numbers or earlier this father were not looking great but that's strong numbers today and we've got you know we've got data that looks good we've got data that looks weird the fed seems pretty confident and and I think one thing that how did in his hearings last couple days was speak a little bit more frankly than he has been speaking at hearings before maybe the the president was watching another hearing finally found his operation yeah he could he could just you know say what he wanted and in peace and one thing that he said of course was that trade was the thing that was really adding a lot of uncertainty to this economy in which means that it's the president's White House is adding uncertainty to this economy and kind of shaking the table one thing that caught my attention was how he talked about the economy kind of finally working for people at the bottom of the income ladder you know that the strong this wage gains have been for lower paid workers you know he's knowledge there are still gaps for people of color people in rural communities but some may are there more signs that the wealth is perhaps being shared more broadly yeah I mean there's really good evidence that essentially hot economies are a very good and disproportionately good for folks who already on the margins of that market so the unemployment rate will full fastest fella I African Americans eat in in the kind of a hostess point if the recovery and so so that is that is really positive I think one of the other things that that Jay Powell said at the the testimony was that you know that that fiscal policy should you know have had more to do that there was lots of reasons why people want in the labor force that reading monetary policy couldn't actually help with and and my response to that was was yes that's that's true enough monetary policy is is so blunt that it caught ready help very much with people who are addicted to opioids it with that kind of thing but hot economies all very very good for you know guru but because and so you know one shouldn't forget that right yeah the the responsibility to just get the economy as as hot as you responsibly Karen is still really important well what about that Lynette I mean we you mentioned the retail numbers they're out today which were better than expected but still you know only three tenths percent growth they're being sort of portrayed as as a little good news a little bad news I mean what kind of weaknesses do you see and in that spending I mean consumer as long as as long as businesses keep hiring at the same clip it don't the the the data to calm as the labor data to see if people are still hiring for the same amount of hours if wages are still going up are we still and and again that's that's a lagging indicator but I think that's what people are gonna be watching we're gonna be watching of American type jobs and of course we're watching credit you know how how much that our American speaking on can we still service that debt yeah if the fed doesn't raise rates that makes it easier it looks like pals gonna hold steady so that's that's probably good for people who you know that is good for people who are you have auto loans and and home loans and stuff like that so everyone's going to be watching that everybody should of course going to be watching the church the trade war it seems like we're exactly where we were with that at the same time as we like it it looks like we are and December twenty eighteen you know we're fighting with China for some kind of cessation of hostilities instead of drilling in on major issues we may or may not have an auto terrace on our hands you know it's just the same story over and over again and that isn't helping business investment that isn't helping corporations not helping small businesses and it's it's a threat to the to the economy all right we got it and there's americain's with the economist Linette Lopez of business insider thank you both so much have a great weekend you too thanks you too on Wall Street to direct today traders went into the weekend on a high note we'll have details when we do the numbers one piece of the retail.

Washington US
"linette lopez" Discussed on KCRW

KCRW

08:19 min | 3 years ago

"linette lopez" Discussed on KCRW

"With us well the U. S. political system is in turmoil there were plenty of reminders this week that the US economy is holding pretty steady thanks once again to the American consumer we've got to may I canes with the economist with me here in Washington and Linette Lopez with business insider at our New York studio to discuss this and more hi you too hello Hey how's it going great so may I let's start with the hearings here in Washington yeah not the ones everyone's talking about fed chair J. Powell testified in the house and Senate on the outlook for the American economy what did you take away from those sessions I think the thing I took away was basically the same message that we got from off to the lost fed meeting right and and essentially it is that the ball for another interest rate cut is pretty high I the economy is sort of in in the place that they were expecting and and if if the economy starts going down hill if you start to see a much west outlook and they're expecting then that could lead to another cut but for now it's kind of where they want it to be a good consumer spending okay business investment is maybe a bit softer than they would want but you know that that that the plan is is going ahead as as scheduled yeah it again Lynette I'm this is more of the same story with Nick hearing businesses aren't doing much investing it's really American consumers who are fueling this economy any signs of that slowing down I'm we've had some tracking numbers like last month's retail sales numbers or earlier this fall they were not looking great but got strong numbers today and we've got you know we've got data that looks good we've got data that looks weird the fed seems pretty confident and and I think one thing that how did in his hearings last couple days was speak a little bit more frankly than he had been speaking at hearings before maybe the the president was watching another hearing I left out is operated yeah he could he could just you know say what he wanted and in peace and one thing that he said of course was that trade was the thing that was really adding a lot of uncertainty to this economy in which means that it's the president's White House is adding in certainty to this economy and kind of shaking the table one thing that caught my attention was how he talked about the economy kind of finally working for people at the bottom of the income ladder you know that the strongest wage gains have been for lower paid workers you know he's knowledge there are still gaps for people of color people in rural communities but some may are there more signs that the wealth is perhaps being shared more broadly yeah I mean there's really good evidence that essentially hot economies are a very good and disproportionately good for folks who already on the margins of that market so the unemployment rate will full fastest the I African Americans eat in in the kind of a hostess point if the recovery and so so that is that is really positive I think one of the other things that that Jay Powell said at the the testimony was that you know that that fiscal policy should you know have had more to do that there was lots of reasons why people what in the labor force that reading monetary policy couldn't actually help with and and my response to that was was yes that's that's true enough money she policy is is so blunt that it caught ready help very much with people who are addicted to opioids it with that kind of thing but hot economies all very very good for you know guru Buck is and so you know one shouldn't forget that right yeah the the responsibility to just couldn't get the economy as as hot as you responsibly con is still really important well what about that Lynette I mean we you mentioned the retail numbers they're out today which were better than expected but still you know only three tenths percent growth they're being sort of portrayed as as a little good news a little bad news I mean what kind of weaknesses do you see and in that spending I mean consumer as long as as long as businesses keep hiring at the same clip it don't the the the data com is deliberate at to see if people are still hiring for the same amount of hours if wages are still going up are we still and and again that's that's a lagging indicator but I think that's what people are gonna be watching we're gonna be watching of Americans have jobs and of course we're watching credit you know how how much that our American seeing on can we still service that debt yeah I'm if the fed doesn't raise rates that makes it easier it looks like pals gonna hold steady so that's that's probably good for people who yeah that is good for people who are you have auto loans and and home loans and stuff like that so everyone's gonna be watching that everybody should of course going to be watching the church the trade war it seems like we're exactly where we were with that at the same time as we would like it it looks like we are and December twenty eighteen you know we're fighting with China for some kind of cessation of hostilities instead of drilling in on major issues we may or may not have an auto terrace on our hands you know it's just the same story over and over again and that isn't helping business investment that isn't helping corporations not helping small businesses it's it's a threat to the to the economy all right we got it and there's americain's with the economist Linette Lopez of business insider thank you both so much have a great weekend you too thanks you too on Wall Street to direct today traders went into the weekend on a high note we'll have details when we do the numbers one piece of the retail numbers that caught our collective I'd today furniture sales they were down almost one percent last month the biggest drop since December last year and terrorists are a big part of the story market place's indie you'll has more last year Beijing shipped thirty four billion dollars worth of furniture here stuff like bedroom sets and couches those imports were hit with a ten percent tax in September of twenty eighteen that jump to twenty five percent in may but Michael sposi an economics professor at Southern Methodist University in Dallas as it's not just those direct tariffs hurting furniture sales supplied to in industry like metals steel and aluminum affect the cost structure of the furniture industry to get around the terror of some furniture stores have changed where they get things may shipments of furniture from China to the US fell by a third from September twenty eighteen to September twenty nineteen according to pan Jeeva a committed tracks the flow of goods overseas shipments from Vietnam where terrace aren't imposed increased by more than half but mark Schumacher with the home furnishings association says changing your supply chain doesn't happen overnight every retailer is different but one thing is true for all of them is they can't pivot on a dime when it comes to you know to what they have available in their in their warehouses he says some retailers past the terrace on the consumers buy hiking prices and bill McLachlan editor of the trade magazine furniture today says everyone down the line has to be prepared for tighter margins if the retailer each a percentage of the manufacturer each a percentage by the time the product ultimately gets the consumer they're not seeing a significant increase he says the larger furniture outlets should be okay but a mom and pop furniture store in rural Georgia might not be able to hold out I'm a dealer for market place we've got more on the news of the week sonic the hedgehog milk alternatives that robots also recommendations from listeners like you it's all in our make me smart newsletter go to market place dot org slash news letters to sign up while impeachment hearings continued in the Longworth house office.

Washington Linette Lopez US New York thirty four billion dollars twenty five percent one percent ten percent milk
"linette lopez" Discussed on KCRW

KCRW

08:36 min | 3 years ago

"linette lopez" Discussed on KCRW

"Business columnist at New York magazine on the right is rich Lowry editor of National Review on the left is Linette Lopez call Mr business insider it is the second week of October and this week the fight with China really started to head home or rather it changed in several directions at once on one hand president trump has been at pains to tell everyone who will listen how well trade talks are going with China in the run to his meeting on Friday with the Chinese vice premier in the stock market has been rising as it does when it thinks trade war de escalation is likely and things are looking Rosier with China but the same time the NBA is embroiled in its own China controversy after Houston Rockets general manager Daryl Morey tweeted his support for protesters in Hong Kong the Chinese to punish the NBA and the rockets taking them off television in China and pushing for an apology later in the show we'll look at that and also what president trump surprise decision to withdraw support for Kurdish forces who control much of northern Syria now holding captive thousands of ISIS rebels Steven cook at the council on foreign relations will join us to talk about what our withdrawal of support means for the region for our security in the fate of all of those ice as prisoners I want to start this week with the democratic presidential primary because I think as all the impeachment news has swirled there been sort of instead of really significantly change the shape of that race we've seen Elizabeth Warren continuing her steady climb in the polls Joe Biden's actually been pretty steady ease maybe down a point in the polling averages so when he's lost of his lead in some polls mostly about warrants continued rights and of course Bernie Sanders has faced an interruption in his campaign because he had a heart attack so when I look at this and you have these three leading options among Democrats it really feels to me like we haven't seen this to completely happen the polls yet but it feels like there have been significant detriments to the Sanders campaign into the Biden campaign it looks better than ever for Liz before it does look better than ever for Elizabeth Warren but I wouldn't count Joe Biden out per se warrant seems to be taking points from every single candidate she's taking a little bit from Comilla she's taking a little bit from the judge you know she's kind of evenly stealing so that does not count Joe Biden out what I will say is a little difficult for the Biden campaign is that I think that this Ukraine matter is really bringing car anti corruption to the forefront of the campaign and that is something that Elizabeth Warren has been champing from the beginning she has you know a ban on a loop that former politicians going into lobbying and she has has already presented a bunch of options for how to combat corruption and now I think Americans are becoming very alive to the idea that it is a real problem here and that had it has been a real problem at the very tip top of our political structure which I think the other argument in favor of Biden's chances right now is I think a lot of people looked at this Ukraine story developing look at a response that I at least in my opinion was pretty weak it's been remarkable to me how little energy Biden is put into defending himself been doing a lot of whining that you know that people around and saying the DNC should do more sending a letter to The New York Times complained about the coverage not really seizing the opportunity to have the one on one fight with Donald Trump where Donald Trump is making some fundamentally unfair attacks about and you would think would be an opportunity to showcase himself he hasn't seized on that and yet you do see in the polls him basically holding his ground which suggests to me that at least so far democratic voters are not looking at this and saying either Gee you know even though this isn't a crime I bothered by what hunter Biden was doing in Ukraine or saying Gee I'm really worried that Donald Trump is going to beat the crap out of Joe Biden with this in a general election better find someone else he still is just tied for the lead in the polls he sagged take down a a little bit and the average is but there's some polls fox poll just out as about thirty two and ten point to have worn where he's been for for a long time that a lot of other polls now show worn a little bit ahead insulin at points out it's basically because she's consolidating the non binding vote bit by bit and stealing votes from from the rest of the candidates so I think she's a formidable candidate I don't count Biden out yet I think we're getting a truer picture of his strength he wasn't a traditional front runner that was going to stop the the field the fundraising numbers are not good for him you know he's with third and fourth or fifth third or fourth in the field or something like that which is not associated with the traditional front runner in his reaction to trump I think one it goes to the just his is just by the not a great performer now and I think they'd be naturally kind of a a righteous response you know leave my family out of it but the end of the day the problem he has is there's just no defense of the propriety of what hunter Biden did and that's that's the big threat him going forward I think the the needle he's filled the freighter those I I agree with you there's no great defensive what hunter Biden did but I think there is a good defense the propriety of what Joe Biden there have been a lot of claims from people associate with Donald Trump that Biden acted improperly by pressuring Ukrainians to to fire this chief prosecutor as he did toward the end of his term as vice president I think Biden has a strong argument to make that a back I was corrupt he was not actually aggressively pursuing corruption our move was was an anti corruption move not a not a move to protect my son or anybody else and and beat it had bipartisan support you had letters from Republican senators like Ron Johnson supporting the move that Biden took at the time so I think that is the argument that he really could be out there forcefully making but I don't really see making I think that there is a lot to be unpacked about this story and and simplified for the American people about what is corruption in Ukraine and what is not corruption in Ukraine a most Americans are not familiar with the history of Yulia Timoshenko and Viktor Yanukovych and everything that happened during the orange revolution and getting everyone up to speed in this really crazy story that involves you know to thuggish looking men who have been associated with Rudy Giuliani and don junior and kind of trying to understand the difference between Ukraine after the revolution and then once the Russians invaded it's just complicated and even for a skilled politician like Joe Biden breaking down that story is hard getting around that story is is really difficult and I I don't envy the position that he said because having to explain Ukrainian politics is a mind meld was so rich what you make of this story this arrest of these two Ukrainian American businessman associates of Rudy Giuliani who would become very quickly influential Republican donors backing approach from super PAC involving themselves in number of races this this indictment which indicted them for a number of things one of which is concealing their donations through through a company concealing the fact they came from them personally also routing donations through each other in there for giving donations in excess of legal contribution limits so but we learned other things in this indictment one for example was there been the sort of odd push by congressman Pete sessions who was a long serving Republican from the Dallas area was defeated for reelection in twenty eighteen he was one of the early people pushing for the termination of this of the US ambassador in Ukraine who Giuliani and his associates had identified as hostile to their efforts to gin up investigations the bidens why was why was Pete sessions involving himself in this dispute and then you see that you know right around the time that he made this statement seeking the removal of the ambassador he received a donation from these shady businessmen and so I realize you know the the the president isn't responsible for the action of every person who supports him necessarily but it seems like they you know by getting in with Rudy Giuliani these people are awfully close to his inner circle there's you know the one of them as a photo with the president they were having dinner with don junior it feels like now these people are under indictment did a support of the president ought to worry about we're gonna learn from these people yes so the indictment itself doesn't directly have anything to do with Ukraine but it goes to the fact these are sleazy and disreputable operators at Rudy Giuliani is quite close with and this is the in the big shoe that's yet to drop as what exactly Rudy was doing there in Ukraine on behalf of trump on behalf of himself in his own business interests and I think this it does open up a slightly new Vista on the worst case scenario which I would say the worst case scenario like last week was was there a real quick pro quo you know put put directly to the Iranians now sake well was there also corrupt dealings by Rudy Giuliani that maybe trump was aware of I think so the Overton window stretched a little bit this week that is that you know trying to just stop this that Rudy Giuliani is a little naive okay Paul man a fort was involved with Ukraine we are gonna go now and come back to look presence that are now going to join the press conference with an update on the saddle ridge fire here KCRW what.

Can congressional republicans take back tariff authority from the U.S.?

Marketplace with Kai Ryssdal

04:49 min | 3 years ago

Can congressional republicans take back tariff authority from the U.S.?

"The president's promised threatened, I guess five percent tariffs on everything that we import to this economy for Mexico did not happen as we know, but it does seem like a very long time ago, and I just wanted to point that out that is the context into which we bring Linette Lopez from business insider city bready from politico everybody. Hey, so city. Let me start with you actually on this one and those tariffs, and what seems to be a murmuring among congressional Republicans that they would, perhaps like to take some tariff at thirty back from the president of the United States. Do you believe that's a realistic thing? It is a real thing someday. As people look back on the Trump administration and figure out what they might wanna do to maybe improve the balance of powers. They it it's just unusual here to have the president unilaterally planning this, and then having some somewhat of a secret deal. He says afterward that there is a secret deal that came out of it. And but maybe you're you'll find out about it on a piece of paper in my pocket. All these things that we don't really quite understand. But the, the, the core issue, here, is that the president has threatened tariffs against Mexico. He's threatened tariffs against China is threatening tariffs against Australia and Europe and everyone else. And that's generally, not the kind of thing tariffs are attacks. It's generally, not the kind of thing, the president should be unilaterally doing when tax legislation is supposed to originate with congress limit. I don't know if you saw Mick Mulvaney, the acting chief of staff of the White House in conversation with Javer. Som sam. ABC this week and Mulvaney was was continuing the president's Canard, I suppose that it's actually the Chinese that are paying the tariffs it does not seem that the White House is willing to engage in reality on these tariffs at all at more than in any time, we've seen the in the Trump administration. The administration is having to constantly tell us, we're not seeing what we're seeing in this economic policy and that goes from trade that goes tax taxes that goes to everything that has to do with budget. Now, Larry cudlow mic mowing. All these people are just they're making us feel like you know, the, the president holding up a piece of paper, that allegedly set was talking about his Mexican plan. They're making us feel like all these bizarre things that we're seeing are not real. And it's this is unlike anything I've seen as an economics reporter in my life. So let me go back a couple of years then because there was there was also something that happened this week, which. I thought was interesting. Kevin Brady who used to chair, the house committee on ways and means he's now in the minority, but he seem to imply this week. I guess I'll go, I'll go tentative on this one, because he didn't come out and say it but he essence admitted that the tax cuts from a year and a half. Two years ago are in fact, not gonna pay for themselves. And we see now that corporate tax receipts are way down deficits rub sleep, it is. It is a dawning in Washington, all my goodness. Maybe that tax Bill wasn't what it was said to be is a dawning with some people in Washington. Those who looked yet, nonpartisan forecasting from the Congressional Budget Office and other institutions knew that this would raise the, the deficit and raise the debt by trillions of dollars. It is like it was known. And so we shouldn't act surprise at this is happening. We might act surprise that people are actually acknowledging the reality of it, then yes, when you cut tax rates in a relatively strong economy, you're not it's not magic fairy dust. There's a limit to what, what this tool can do. And the end result is, is debt and someday the people who the Republicans who put this through. We'll start caring about debt again, but will probably happen, when they're not in power anymore limit. Let me actually take that strong. Economy thing that was just talking about and add this week's numbers, right? Retail sales were up. We're going to have a report from from Justin ho on that in a minute inflation is still basically steady. And, and right where the fed wanted in this economy. What, what's not to love? I'm you know the last job summer was not that great young. We were having some hiccups in the auto sector where the market seems a little unstable given what the president is saying about tariffs. Yes tariffs. No people are starting to feel kind of like there's some choppiness here and, you know, we're not getting a lot of assurances from the rest of the world like everything is going to be stable, too. So I think that has people worrying Wall Street is definitely starting to worry about a recession coming in the next year or two and. They're definitely worried about corporate earnings, and I think that's one of the reasons why the president is really pushing the head of the Federal Reserve to keep interest rates low. He wants to keep the economy going at a steady clip before the

President Trump Mick Mulvaney Mexico China White House Congressional Budget Office Linette Lopez United States Donald Trump Kevin Brady Federal Reserve Justin Ho Europe Congress Larry Cudlow Washington ABC Reporter
Trump just raised tariffs on Chinese goods

Marketplace with Kai Ryssdal

07:14 min | 3 years ago

Trump just raised tariffs on Chinese goods

"As you have surely heard by now on about two hundred billion dollars in Chinese imports. Went from ten to twenty five percent at a minute past midnight this morning Washington time this round of negotiations has come to an end. We are told President Trump and his top advisers say the talks were constructive. And so here we are betwixt and between June smile at the New York Times Linette Lopez is at business insider, the topic at hand, of course, is now what happens everybody Haycock. Hey guy, so genome, let me start with you and offer this observation it seemed like the president based on his statements in his tweets this afternoon in which he basically said tariffs are staying on. We'll see what happens. He said Lincoln for this thing to go for a while. Now. Yeah. It looks like it. And I mean there were negotiations yesterday and today and those only lasted a few hours both of both of the leaders in this case, both president Xi and President Trump are dealing with a situation where they have decent looking Connie's and decent-looking markets at their back in. So I don't think there's a lot to push them to a really fast conclusion at this point. Let me ask you this actually, which which just sort of occurred to me as Jean was making her point, you, you know, how financial crises happen, very slowly. And then they happen all at once. Is it possible that a trade war goes along quietly for a long time, and then gets worse? Very quickly all at once. I don't see why not. And I I'm not sure how stable the Chinese economy is. I mean back in. February January wouldn't have said that it was completely puking and the the government had to go in and help out banks and take take some measures like lowering the amount of cash that thanks have to have on hand and encouraging the property market again, which is already very frothy. So that's a worry that they have. So. Yeah, it stable and it's been stable for the last month. But it took a lot of doing to get there. And the pulled a lot of levers so you don't want to go into situation where it's destabilized again. I thought junior that and I did think actually I'll say it in the in the affirmative that this time kind of felt a little bit different. I mean, we've been you know, up and down the tariff road with the president many times over the past eighteen months, this one sort of felt more significant. And now as I said up top in the open, everybody's kind of going. Yeah. Well, we'll see. Yes. So I think it's interesting. I if I've been reading a lot of economists notes this afternoon, and the big takeaway, I have from those is that most people just don't think that we're in for the long haul here like a lot of people think this does get resolved. And that's why markets are shrugging this off. But like you said if you listen to what the president is saying and look what he's tweeting. It sounds like he is in for the long call. And so that disconnect is going to be really interesting to watch and see how that gets resolved over over the coming weeks. I think need. I need some perspective from you on this one. Even a twenty five percent tariff on two hundred billion dollars worth of imports comes to fifty billion dollars a huge enormous amount of money. But in the scale of the American economy, it's a drop. Right. I mean, but sure you're talking about a lot of goods everybody buys every day potentially being affected. And that's that a and you're talking about, you know, potentially Sean slowing down purchasing power a little bit. But the reality is the US economy can probably handle this. And Donald Trump knows that one of the reasons according to reports that the Chinese delegation thought they could play harder ball was because the president kept insisting that the Federal Reserve should keep interest rates low, which is an indication that the economy is weak. So even though Donald Trump knew that knows that the economy is stronger says that the economy strong, and the data is showing that we're. On good footing. Right now, the fact that he was putting pressure on the Federal Reserve to lower interest rates was giving a mixed signal to delegates and they thought that maybe in reality. The economy was weaker than it is. And they had an an entrance point negotiate so Gina let me ask you this, and it has been pointed out here and elsewhere that the president of the United States is economically inconsistent, shall we say? And and and this is actually a really serious question. Do you think the president understands how tariffs work because if you look at his public statements and his utterances on Twitter? It's not clear. Right. So he's saying things like, you know, tariffs are being paid to the US by China twenty-five percent on two hundred fifty billion dollars. If goods, that's not the way tariffs work. So the way tariffs work is that in tears can work different ways. But the way vis tariffs have worked so far is that the people paying them are domestic consumers and the. Research up to this point shows that literally the full incidents like all of these tariffs are being paid by domestic consumers to the tune of like one point four billion dollars by the end of two thousand eighteen based on the research so far. And so I think that you know, there's a real disconnect between what he's saying. And what is actually happening with these tariffs? Same question to you. Do you believe the president understands how it works? Based on what he says. No. But does he mean what he says? I don't know, you know, either he's performing that he doesn't or he really doesn't. Super quick question to both of you on the way out here. I'm obliged to point out that there's paperwork in the works. Looking at automobile tariffs on the European Union? We've got the US MCA that the president has said he wants to wrap up by the end of the summer. We've got a debt. Limit fight a common sooner rather than later. Why does anybody think they're going to be able to devote any attention to that? When this is still hanging over their heads to you know, you go first. Yeah. So I mean, I think the interesting question is whether people think this is still going to be hanging over their heads. And so I think that a lot of especially the the universe. I work in a lot of economists just think this does get resolved because the stakes are pretty high. And because the next trenches of tariffs are going to hit consumers, whereas the ones up to this point have been on sort of business intermediary goods. And so I think there is this idea that this is just going to get resolved. Whether that's true. I don't know. Limousine question, you quickly things are going to get fixed with all the rest of this stuff. They're promising new orca. I don't know if they're going to get to anything. There's too much going on in Washington, and I would like to be bored with Washington. But I'm it's too exciting. And I don't like it. You know, this is a very complicated situation. I've been talking to people on Wall Street since Sunday's President Trump tweeted out all that stuff and on Monday, anybody would have told you that we wouldn't be where we are today on Tuesday. They were starting to get a little worried and on Wednesday. They were like, oh my God. This is real. So nobody actually knows this is this is happening in real time. In the experts, are I we've gone into unchartered territory here with the significance of these tariffs,

President Trump United States Washington President Xi New York Times Linette Lopez Lincoln Federal Reserve Twitter Jean European Union Sean Connie Gina China Two Hundred Billion Dollars Twenty Five Percent