22 Burst results for "Nancy Marshall Ganz"

CDC Extends Eviction Moratorium Through July

Marketplace with Kai Ryssdal

02:09 min | 1 year ago

CDC Extends Eviction Moratorium Through July

"Centers for disease control has extended for one last time it says the federal eviction moratorium that gives them millions of tenants out there who can't make the rent a little bit of breathing. Room end of july is the new deadline. There is federal rent relief money to be had. But it's not getting to everybody who needs it. So what do you suppose happens when the federal eviction protections go away in just over a month. Marketplace's nancy marshall ganz on that one the one month extension we'll give state and local governments more time to distribute twenty five billion dollars in federal pandemic rental assistance. Some have been slow to get the money out. Matt losec heads the montgomery county maryland renters. Alliance he says they're afraid of fraud and a lot of municipalities are not used to handling crisis operations losec says six million renters nationwide are facing eviction. Tenants like laura who didn't want her last name us for fear of losing her job. She applied for rental assistance. Two months ago. I'm just honestly very frustrated. Right now laura works in a nursing home. She was afraid of getting covert so took a month off from work unpaid now. She's thirty two hundred dollars behind on her rent. she worries she'll be evicted. It's a very dehumanizing process. Who wants to have any notice slapped on their front door for everybody. Who lives on your florida's see laura is working and paying rent again. She just needs the federal aid to pay her background policy. No is with the national multi family housing council. We've seen data's that suggests that a resonance are feeling that they are in a better place about meeting those rental agreements but sinoe says long-term the section eight federal housing program should be expanded it issues brent vouchers for low income tenants. Alicia missouri is at the center on budget and policy priorities. She says even before the pandemic there was a long section eight waitlist just one in four eligible families get rental assistance and so many more people are in need

Nancy Marshall Ganz Matt Losec Laura Centers For Disease Control Montgomery County National Multi Family Housing Maryland Sinoe Alicia Missouri Florida Center On Budget And Policy Pr
"nancy marshall ganz" Discussed on WNYC 93.9 FM

WNYC 93.9 FM

08:19 min | 1 year ago

"nancy marshall ganz" Discussed on WNYC 93.9 FM

"The 27th Day of May. God is always have you along, everybody. If yesterday was a corporate news kind of day, which we said itwas today is an economic indicator news kind of day. A second look at gross domestic product for the first quarter came out this morning. And unchanged from earlier but still robust. 6.4% growth on an annual ized basis in this economy and realized is important. Their first time claims for unemployment came out as well. Because this is Thursday. The trend keeps going in the right direction, a relatively And relatively is doing a lot of work. They're low 406,000 people applied for benefits. We, though, will begin with something called personal consumption expenditures PC if you like and measures inflation and was up 3.7% in the first quarter. Now. Why are we telling you that? Here's marketplaces Nancy Marshall Ganz er Personal consumption expenditures. Price index. The PC eep tracks a basket of products and services. You can think of it like one big shopping card for all Americans. Economist Claudius Some at the Jane Family Institute says the PC measures the price of the goods and services we consume whether or not we pay for them ourselves. At the doctor's office. The co pay comes out of your pocket. But if you have insurance that pays the rest, some says higher demand pushed up the prices in the P C. E basket. A lot of people need to go buy clothes to get back to work, and, frankly, like myself, a lot of us need closer of a larger size. We were wearing the last time we went to work. No, the PC is the Federal Reserve's favorite inflation snapshot. The PC ease, flashier cousin, the C P I, or consumer Price Index on Lee measures will be pay for ourselves. Stephen Chick Eddie is an economist at BRANDEIS University. Well, the reason that they look at the PC instead of the C P I is that the PC is a more accurate measure of the whole market basket of what we consume. Kathy Bostjancic, an economist at Oxford Economics, says the PC also tracks consumers who buy chicken when the price of say, beef rises. The PC Price index will capture that switch to the lower cost Good. The Fed needs an accurate inflation gauge like the PC Eve to know when it needs to raise interest rates to cool off the economy. I'm Nancy Marshall denser for marketplace. So let's keep going with economic indicators that first time first time claims number. I talked about 14 6000, as I said, the lowest since the pandemic started and a pretty solid sign. The labor market is working its way back. But a nowhere near normal labor market is one thing and also be That first time claims number is a look back what already happened. And with two dozen Republican governors, having said they're cutting off extra federal unemployment benefits, some as soon as next week. Good places. Meghan McCarty Carino looked at the labor market yet to come. It's not just that extra $300 a week in federal unemployment payments, most of these states are ending. It's also benefits for gig workers, freelancers and the long term unemployed. Like Marcellus, Row in Dunwoody, Georgia, where federal benefits will end June 26. I will be receiving nothing. Unfortunately, I have no idea how I'm going to hell they by day. Row, lost his job at a public transportation agency last year and says he hasn't found work to match his previous pay of $16 an hour and all the hours just not gonna cut it. As economies reopen and the dangers of the virus recede. Michael strain of the American Enterprise Institute says the additional benefits are doing more harm than good. I see a labor market where employers clearly want to hire workers, but there are not enough workers there to be hired. He says Scaling back benefits could incentivize more people to return to work. But Andrew Stettner at the Century Foundation says it's not so simple. We want to believe that we can just turn the lights back on, but that's not really how it works. Industries like tourism and entertainment have been slower to bounce back, and some people face health challenges or child care issues caused by the pandemic that prevent them from finding work. Those the ones on the federal programs, those people that have the greatest barriers to work. Rising vaccination rates might make it feel like we're done with Cove it But he says Covad isn't done with the economy. I'm making McCarty Carino for Marketplace on Wall Street today. Well, the major indices were up a bit, so there's that you know what else was up to those Almost 36%? AMC, the movie shooter thing that theater chain that not six months ago was this close to bankruptcy. Why Reddit Wall Street. Betts is at it again. We'll have the details when we do the numbers. It's rare honestly, that corporate governance becomes a big news story. It is equally rare, more rare, Probably. That in a David and Goliath Wall Street shareholder fight David winds, but that is exactly what the vote to put at least two new, more climate minded people on the Exxon Mobil board of directors yesterday, Woz And the ruling in the Netherlands that Royal Dutch Shell is responsible for climate change and is going to have to cut its emissions by a lot and soon. Well, that's of a piece. But for those presidents and for the tipping point that Arguably yesterday was the big question here is scale will what happens in a board room and a courtroom? Get us to the changes that are going to matter to the planet. Marketplaces. Scott Tongue explores For big oil companies with giant climate footprints. Yesterday's events are kind of push and pull. At least that's how environment and climate lawyer Maggie Pelosso at Vinson and Elkins sees it. The litigation is really using the law as a push. That is the Dutch ruling against Shell may prompt other oil majors to cut their emissions and the shareholder piece of it is kind of trying to use shareholder preferences on climate as a pole. So you're trying to get people to go beyond the law and you more than what the law would require. Also expects the new board members voted in by big investors, including Black rock to push for strategic changes, but they'll have to be big, according to the International Energy Agency. Last week. It's said in order to achieve zero net emissions by 2050. No new oil and gas fields can be developed period. And so if that's the world you're living in You would expect that investors will question every single new investment, but it's not just what oil companies stopped doing. It's also the technologies they develop. For instance, finding ways to pull CEO to out of smokestacks in the air to turn emissions Negative. Here's Karen Dany Kylie, senior analyst at S and P Global ratings, a marketplace underwriter and terrors of capturing carbon. They're not quite there yet, but there's an incentive now more than ever for these oil companies to figure it out. Figure it out and move the climate Needle. But not all fossil fuel companies can be poked and nudged by big investors and Wall Street, Columbia law professor Michel Gerard. We also have state owned oil companies from Russia and Saudi Arabia and other countries that are much less vulnerable to this kind of political pressure. And to many observers, Big oil's business models have to fundamentally change if we're going to dial back the warming already underway. I'm.

Kathy Bostjancic Andrew Stettner Maggie Pelosso International Energy Agency American Enterprise Institute Karen Dany Kylie June 26 Michel Gerard Century Foundation Nancy Marshall Oxford Economics Scott Tongue Michael AMC Thursday Shell Nancy Marshall Ganz Jane Family Institute Exxon Mobil BRANDEIS University
Your Tax Refund May Take a Bit Longer This Year

Morning Edition

01:32 min | 1 year ago

Your Tax Refund May Take a Bit Longer This Year

"Day. The deadline for filing your 2020 federal taxes month later than normal years. But even if you filed early this year, you may still be waiting for your refund. That is because shocker the pandemic did a number on a lot of people's tax returns. And the I. R S is now buried in a huge backlog. For starters, 30 million tax returns were flagged for a manual review. People got stimulus checks and other relief payments that Iris has to take a closer look at and it still as returns from 2019 zipped through as well. Marketplaces Nancy Marshall Ganz explains what's going on. Samuel McConnell and his wife, Wendy, filed their 2020 tax return in February. But they're still waiting for their $2900 refund. The iris just tells them you return is being processed. With no other information, no information. Why? No, it's always tempting to blame things on your kids. But this time the delay really could be due to McConnell's daughter, Maggie. Well since Maggie was born in January. Of 2020. The Iris didn't know about her. So McConnell claimed Maggie's Cove, it relief payments on their 2020 taxes that may have put them in that backlog of 30 million returns. Aaron Collins is the I. R S is national taxpayer advocate. 30 million returns. For however many I arrest employees to process is a very large lift for the IRAs in Colin says it doesn't help that the irises budget was cut 20% over the past decade. I'm

Nancy Marshall Ganz Samuel Mcconnell Maggie Iris Mcconnell Wendy Aaron Collins Colin
How consumers are using their latest relief checks

All Things Considered

02:05 min | 1 year ago

How consumers are using their latest relief checks

"To have you with us. The Federal Reserve Bank of New York is out with a new study today, looking at how people are spending or not spending their pandemic relief checks. So far, most are using the money to pay off debt or saving it. Not exactly the economic stimulus. Many are hoping for marketplaces Nancy Marshall Ganz or has more on why people are holding back on spending. The New York Fed says the consumers it surveyed who've already received their third relief checks are hanging on to the money just like they did with the 1st and 2nd relief payments. The Fed report says. Consumers are only planning to spend a quarter of the most recent check, and most of that will go toward essentials. We were savers Jason Calas are is an eighth grade teacher. He, his wife and teenage son lived near Los Angeles. He says. In the before times they go out to eat once or twice a month. But they won't be using any their stimulus money for that. In fact, he doesn't think they'll set foot in a restaurant until next year. We spent the lad better part of 13 months used, avoiding indoors and people are strangers. And then it would just be a big hurdle to get over. Salazar says they might reconsider once they're all vaccinated. Kathy Bostjancic, an economist at Oxford Economics, says a lot of other consumers feel the same way. The confidence to go out and spend on services is is very directly related to the progress we're making on the vaccinations. Question Sick thinks will make enough progress for consumer spending to jump about 3.5% over the next few months. Other economists, like Joseph Minarik of the Conference board aren't quite so optimistic. The people who worked in hotels or in transportation We're getting up to full capacity is going to take some time. Those folks are going to continue toe hold back in terms of their spending, Min Eric says. Even some people who do have jobs are worried They'll get a pink slip and economic growth won't recover without them, since roughly 70% of the U. S economy

Federal Reserve Bank Of New Yo Nancy Marshall Ganz Jason Calas Kathy Bostjancic Oxford Economics FED Salazar Joseph Minarik Los Angeles Conference Board Min Eric U.
"nancy marshall ganz" Discussed on KCRW

KCRW

03:10 min | 1 year ago

"nancy marshall ganz" Discussed on KCRW

"C s I. P. C. I'm David Brancaccio. President. Trump released a video last evening, saying the $900 billion covert relief bill passed by Congress is a disgrace needs to be reconfigured. And that $600 a person is not enough. Marketplaces. Nancy Marshall Ganz is in Washington. Will this delay the relief, Jax? Possibly David. Now, Trump did not specifically threatened to veto the covert relief bill. If you were to sign it, the checks could go out very soon. A Treasury secretary Steven Mnuchin, said earlier this week. The money would land in Americans bank accounts as soon as next week. What happened to President Trump vetoes this bill? We'll both the House and Senate approved the covert bill by veto proof majorities in Congress can override of the president's veto with the two thirds majority needs chamber. But those votes would have to be scheduled, and many members of Congress have already gone home for the holidays. Right. So what's the next step then? Well, House Speaker Nancy Pelosi tweeted last night. Democrats could vote this week on a bill that would increase the payments to $2000. But that would have to be a unanimous vote than the Senate would have to approve it unanimously, which is unlikely by one estimate from economists early today, she increasing the checks to $2000 just for adults. Would cost an extra $370 billion. Nancy. Thank you. The stock market is pretty calm about this at the moment. Perhaps because Trump did not specifically say he would veto covert relief. The Dow is up 171 point 6/10 percent. The S and P 500 is up 4/10 percent. The NASDAQ is down 1/10 percent. The number of people signing up for unemployment benefits after fresh layoffs remain very high in the last week, But there's news the number did fall from 803,000 from 885,000 people. Personal spending fell sharply in November. The 4/10 percent drop was the first since April. We also just got the University of Michigan survey of Consumers where there was more strength in December over November overall, but slippage detected as this month draws to a close marketplaces. Mitchell Hartmann has background Even with positive news about vaccinations. Most of the news about the economy and Covitz spread has been downbeat lately, says Robert Frick, at Navy Federal Credit Union. Retail spending is decreasing, and the times are not good. Even with the federal aid package. We're looking at a few bleak months. How consumers feel about the future depends a lot on how pandemic shutdowns and layoffs affected them, says Mark Camera at bankrate dot com. There are a lot of people who are doing just fine Blue been able to work from home. They may own their home. They have substantial assets. They're not overly worried about the future. Other workers are more anxious. Those who have really been on the frontlines of these industries hurt most during the pandemic, leisure and hospitality retail and they are more financially fragile, he says. A recent Bankrate survey found that half of American households have lost income.

Trump Nancy Marshall Ganz Congress President David Brancaccio Senate House Speaker Nancy Pelosi Bankrate Mark Camera Jax Navy Federal Credit Union Steven Mnuchin Mitchell Hartmann University of Michigan Washington
"nancy marshall ganz" Discussed on KQED Radio

KQED Radio

03:11 min | 1 year ago

"nancy marshall ganz" Discussed on KQED Radio

"And Y S C s I. P. C I'm David Brancaccio. President. Trump released a video last evening, saying the $900 billion covert relief bill passed by Congress. His A disgrace needs to be reconfigured. And that $600 a person is not enough. Marketplaces. Nancy Marshall Ganz is in Washington. Will this delay the relief, Jax? Possibly David Now, Trump did not specifically threatened to veto the covert relief bill. If you were to sign it, the checks could go out very soon, A Treasury secretary Steven Mnuchin, said earlier this week. The money with Landon Americans bank accounts as soon as next week. What happened to President Trump vetoes this bill? Well. Both the House and Senate approved the code Word bill by veto proof majorities in Congress can override of president's veto with the two thirds majority needs chamber. But those votes would have to be scheduled, and many members of Congress have already gone home for the holidays. Right. So what's the next step then? Well, House Speaker Nancy Pelosi tweeted last night. Democrats could vote this week on a bill that would increase the payments to $2000. But that would have to be a unanimous vote than the Senate would have to approve it unanimously, which is unlikely by one estimate from economist Ernie to death, she increasing the checks to $2000 just for adults. Would cost an extra $370 billion. Nancy. Thank you. The stock market is pretty calm about this at the moment. Perhaps because Trump did not specifically say he would veto covert relief. The Dow is up 171 point 6/10 percent. The S and P 500 is up 4/10 percent. The NASDAQ is down 1/10 percent. The number of people signing up for unemployment benefits after fresh layoffs remain very high in the last week, But there's news the number did fall from 803,000 from 885,000 people. Personal spending fell sharply in November. The 4/10 percent drop was the first since April. We also just got the University of Michigan survey of Consumers where there was more strength in December over November overall, but slippage detected as this month draws to a close marketplaces. Mitchell Hartmann has background Even with positive news about vaccinations. Most of the news about the economy and Covitz spread has been downbeat lately, says Robert Frick, at Navy Federal Credit Union. Reach. Our spending is decreasing, and the times are not good. Even with the federal aid package. We're looking at a few bleak months. How consumers feel about the future depends a lot on how pandemic shutdowns and layoffs affected them, says Mark Camera at bankrate dot com. There are a lot of people who are doing just fine. We've been able to work from home. They may own their home. They have substantial assets. They're not overly worried about the future. Other workers are more anxious. Those who have really been on the frontlines of these industries, her most during the pandemic, leisure and hospitality, retail and they are more financially fragile, he says. A recent Bankrate survey found that half of American households have lost income in the pandemic..

Trump President Nancy Marshall Ganz Congress Senate David Brancaccio House Speaker Nancy Pelosi Bankrate Mark Camera Navy Federal Credit Union Jax David Now Steven Mnuchin Mitchell Hartmann University of Michigan Washington
"nancy marshall ganz" Discussed on WNYC 93.9 FM

WNYC 93.9 FM

02:48 min | 1 year ago

"nancy marshall ganz" Discussed on WNYC 93.9 FM

"These factors air are increasingly important in our understanding of who gets hardened by disasters. Who doesn't In the past, The index has been used after wildfires and hurricanes and now it can help states identify communities that have been disproportionately hit by Cove in 19 Harold Schmidt is medical ethics professor at the University of Pennsylvania. So the result of populations that we have to make sure get the vaccine before other people come covet is an inconvenience, but not an existential threat. Schmidt says. The social vulnerability index can also help states target their communication and outreach strategies to let people know that the vaccines are available. It is no good to prioritize worse off populations if they want you them, Schmidt says. A number of states have already published plans to use the CBC's index. I'm Justin Ho for marketplace. The Federal Reserve begins a two day meeting today. Its last on interest rates during the Trump era marketplaces. Nancy Marshall Ganz ER follows the Fed Forest. Nancy, What is the personnel situation now? Over there? Well, there's seven seats of the board on Lee. Six seats are occupied right now and find that them were filled by President Trump's nominees. One spot is empty, and President elect Biden will probably get to fill it. Is it appropriate for me to ask if Biden will have allies on the Fed? The Fed is independent. That said the Fed and the Biden White House will both want a quick full economic recovery. Kathy Bostjancic, chief U. S financial economist at Oxford Economics told me the Fed's interest rate policy will help They're gonna wait a long time before they start to raise interest rates or Titan, And if they do it here, too, that that's going to be very supportive and helpful to get the economy you know, back up on its feet. The hope is with interest rates, staying near zero. Consumers and businesses will borrow money and spend it. Where might the Fed in the White House diverge well under chair, pal. The Fed has eased some of the regulations from the Dodd Frank Financial reform Law. For example, it's lowered the amount of capital banks have to keep on hand for emergencies. What can the biting people change The feds trajectory there? Possibly Fed chair Jerome Powell's term expires in February of 2022. Biden gets to decide whether to replace Powell or give him a second term. Nancy. Thank you. Markets Dow S and P and NASDAQ futures are all up in the 6 to 7/10 of a percent range. Several published reports today suggest a second covert vaccine could get FDA approval sometime this week, the FDA said today. Madonna's has been found to be safe and 94% effective. Marketplace Morning reported supported by progressive.

Federal Reserve Biden Nancy Marshall Ganz ER Fed Forest Harold Schmidt Biden White House Jerome Powell President Trump FDA University of Pennsylvania Justin Ho Dodd Frank Financial reform La Cove President professor Madonna Kathy Bostjancic Lee White House
"nancy marshall ganz" Discussed on WNYC 93.9 FM

WNYC 93.9 FM

02:04 min | 1 year ago

"nancy marshall ganz" Discussed on WNYC 93.9 FM

"P. C I'm David Brancaccio. First negotiations on a $900 billion coronavirus relief bill appears stalled this morning. Lawmakers is searching for compromise on a major sticking point businesses that want to be protected from getting sued over Covad marketplaces. Nancy Marshall Ganz joins us here, Nancy the liability issue. David Republicans want legal protections for companies, schools and nonprofits that would shield them from lawsuits. If someone like a student, customer or employee got Cove it, Senate Majority Leader Mitch McConnell wants very broad protections. Democrats say that would let bad actors who actually were negligent off the hook and that negotiators air trying to come up with a compromise. Water ideas. Well, there was a proposal for a temporary freeze on lawsuits. But Republicans didn't like that because they said lawyers would just wait until it was over to sue. Senator Mitt Romney, Republican of Utah, has suggested establishing a liability shield just for illnesses that occurred this year. But there's another sticking point. Republicans don't like Democrats push to give state and local governments more aid. And the negotiators are pairing these two issues together, so each side gets some of what it wants. And if this falls through Nome or coronavirus relief in 2020 federal unemployment benefits would end the day after Christmas. A freeze on evictions would also stopped at the end of this year. The new covert relief bill would include a $300 a week federal unemployment supplement and it would extend the eviction freeze. All right, Nancy. Thank you. Markets. The SNP future is down 4/10 percent that out. Future down 93 points 3/10 percent while U. S approval of the Fizer Beyond Tech Corona virus vaccine could come by the end of this week. There's news just now, the Food and Drug Administration has concluded the vaccine has met the criteria for success. Visor stock up half a percent in pre market trading beyond Tech is up. 2.9% in Europe Marketplace.

David Republicans Nancy Marshall Ganz David Brancaccio Senator Mitt Romney Covad Food and Drug Administration Mitch McConnell Senate Europe Nome Utah U. S
"nancy marshall ganz" Discussed on KQED Radio

KQED Radio

05:18 min | 2 years ago

"nancy marshall ganz" Discussed on KQED Radio

"You know what's coming up next week, right? Yes, sure, the election. But that's November 3rd November 4th and fifth next Wednesday and Thursday, the Fed meets No, They're not going to do anything with interest rates, but it's always news when the actual people running this economy get together. Yvette has also been in the news. As you know, more than usual in the Trump administration for the squeeze, the president has put on chair J. Powell and his colleagues to juice this economy a squeeze, we should say, the chair PAL has said on this program and elsewhere. That does not factor at all into their discussions. But squeeze he has President Trump not the norm the past couple of decades for presidents to act that way, but Back in the day, there was Lyndon Baines Johnson. Marketplaces Nancy Marshall Ganz recovers the Fed for us. President Lyndon Johnson and the Fed chair during his administration, William McChesney Martin couldn't have been more different. Johnson was a larger than life Texan known for backslapping and arm twisting to get his way. Martin was an intellectual, bespectacled banker. Initially, though, they got along well, I just want to thank you for your most thoughtful and generous letter, and that's Johnson. Speaking to Martin on the phone. Martin had sent a supportive letter after John F. Kennedy was shot. Ensign became president Johnson is trying his best to be charming but immature, starting with someone I don't know much about your shop, and then he started to tell me what I know about Johnson's charm offensive continues even after the Fed raises rates in 1964 just weeks after Johnson wins the presidential election of president. In another phone call, Martin explains why the rate hike was necessary and reassures the president about the money supply. Johnson seems satisfied. That's wonderful bill. I hope you watch that and do everything you can that way. I'd hate for this to turn the other way on Earth, but Johnson didn't want any Mohr interest rate hikes, George Washington University political science professor Sarah Bender says. The president didn't want to own up to the cost of the Vietnam War and the war on poverty. Low interest rates kept the cost of government borrowing down, the worst would be high rates, making plain to everyone the cost of what the government was doing both domestically and abroad. But Martin is worried the economy will overheat, then crash. He wants to cool things down, slowing spending by raising rates again, making it harder for businesses and consumers to borrow money to spend in 1965 Martin goes public, saying there are disquieting similarities between the economy of the 19 sixties and the roaring twenties leading up to the Great Depression. Later that year, Martin cast the deciding vote in Fed decision to raise interest rates again. Johnson is livid. He wants to fire Martin at one point, telling his Treasury secretary Henry Fowler, to find a replacement and you got a way we can get a real articulate, able tough guy that could take this place. But Johnson has told the Fed chair can't be fired just because he disagrees with the president. So instead, Johnson calls Martin down to his Texas ranch. Johnson drives his Lincoln Continental convertible to the airport and gives Martin a lift to the ranch. But the charm offensive ends when they get there, and Johnson lets loose on Martin. My boys are dying in Vietnam, and you won't print the money I need the tongue lashing wasn't recorded. So I got George Washington University professor Sarah Bender. To paraphrase University of California, Irvine, Economics professor and Fed historian Gary Richardson says he almost 6 FT four Johnson even shove the much shorter Martin up against the wall. He's grown men going at it, Johnson shouting, bullying pushing kind of physically man handling the chairman of the federal serve, Richardson says Martin is shaken but stands his ground. Later. He suspects that Johnson isn't being honest about the true cost of the Vietnam War. Bridget Callahan Harrison, a professor of political science and law at Montclair State University, says Martin worries again that the economy will overheat with all the spending by the government and consumers. With money borrowed at interest rates that are still pretty low, he says. This great line, the key function of the Federal Reserve is to take away the punch bowl. Just a CZ. The party is getting good. But maybe not wanting to be Johnson's punching bag again. Martin holds this fire on interest rate increases for a couple of years. Then in March of 1968 Johnson announces he's not running for re election in the two months after that, the Fed raises interest rates by almost 1%. I'm Nancy Marshall Ginza for Marketplace. This final note on the way out today a sneak peek at what will politics kind of aside probably be a semi big story tomorrow. The CEOs of Facebook, Twitter and Google are due on Capitol Hill. Virtually, of course.

President Lyndon Johnson William McChesney Martin president Federal Reserve George Washington University Nancy Marshall Ganz Sarah Bender professor Trump Yvette Nancy Marshall Ginza J. Powell Vietnam John F. Kennedy Texas Facebook
"nancy marshall ganz" Discussed on WNYC 93.9 FM

WNYC 93.9 FM

04:54 min | 2 years ago

"nancy marshall ganz" Discussed on WNYC 93.9 FM

"13 October. Good is always to have you along Everybody A little bit of good news A little bit of bad news from the International Monetary Fund today. The IMF published its world economic outlook this morning more than a 4% shrinkage in the global economy this year. That's the bad news. Here's the good news is that that's actually a little bit better than its June forecast and Next year is not looking so bad, provided And here's the news. The IMF says all countries, not just the United States ought to stop worrying about their debt loads and spend what is needed to keep people out of poverty. Marketplaces Nancy Marshall Ganz or gets US going, The IMF says close to 90 Million people could fall into extreme poverty that is living unless than a dollar 90 per day as covert 19 widens the global wealth gap. Eric LeCompte head Stupidly Yusa Network, a coalition of aid organizations, he says people on the lowest rungs of the economic ladder, migrant workers, low skilled factory workers. Are most at risk. We are looking at perhaps half the world's population living in extreme poverty. The solution says the IMF country should borrow and spend big to strengthen the social safety net. That means health care coverage. Unemployment benefits JOB retraining. Oxford Economics economist Ben May says that government spending fiscal policy can be a lifeline. So I think there is an understanding that at the moment the fiscal policy is particularly powerful on the actually It does play a role in lifting these economies out of recession. Plus borrowing is cheap right now, interest rates or super low but developing countries that borrow should remember. They'll have to pay it back. She hoco Goto is with the Wilson Center. And it will be incredibly difficult for industrialized countries to be able to wave off those debts. And just to say that you don't need to pay us fact. But countries that borrow from the IMF are getting a bit of a reprieve, the IMF has decided to give them more time to repay their debts. I'm Nancy Marshall Genser for Marketplace. You know how we talk about inflation all the time. Maybe not all the time, but a lot. Here's one reason why the Social Security Administration announced this morning that people who get social Security benefits are going to get a cost of living increase next year. Of 1.3% 20 Bucks a month. On average. It's the lowest annual increase since 2017 and comes as there is some disagreement about what the number auto actually be. And what exactly the cost of living is for people living through a pandemic Marketplaces. Suburban Ishwar has that one. How much has the cost of living changed? Well, kind of depends on who you are right. That number the 1.3% cost of living increase that is based on a particular group of Americans, all urban wage earners and clerical workers. Bruce Trouble is a consulting actuary. Government looks at what inflation is like for this group looks at the Consumer Price Index for urban wage earners and clerical workers. Thing is that is not seniors. It's just the only survey Congress had when the law was written in 1972 Christina Martin for Veda is with AARP. The formula really doesn't take into account. The actual budget and expenditures of most retirees. So, for example, senior spend more on health care and health care costs have surged 4.9% this year. The formula doesn't take into account Medicare premiums either. And the pandemic has added costs for seniors. In particular, Gary Burtless is with the Brookings Institution agent households may need to Restrict themselves to consuming groceries that can be delivered to them, and that carries a higher price head. Mary Johnson, an analyst with the Senior Citizens League, says decades of low cost of living increases that don't reflect its seniors. Budgets have added up We estimate that Social Security benefits have lost 30% of the buying power since 2000. The senior Citizen's league is lobbying Congress for AH, higher cost of living adjustment for 2021 3% instead of 1.3. In New York. I'm sory been ashore for marketplace on Wall Street today, there was, Shall we say a lack of enthusiasm will have the details when we do the numbers. What do you do when a big chunk of your business depends on people really large numbers of people? Getting together in sometimes cramped quarters think cruise ships and movie theaters and theme parks and sports stadiums. That would make you Disney. Or Disney, which has been knocked sideways by the pandemic, and so has announced a big restructure its going.

International Monetary Fund Nancy Marshall Ganz Congress Disney Social Security Administration United States Eric LeCompte Nancy Marshall Genser Gary Burtless Wilson Center Yusa Network Oxford Economics Ishwar Brookings Institution Mary Johnson Ben May
"nancy marshall ganz" Discussed on KCRW

KCRW

03:43 min | 2 years ago

"nancy marshall ganz" Discussed on KCRW

"The September jobs report just hit the wires, and it was weaker than expected. Just 661,000. More people were on payrolls last month compared to August. While the parallel survey of households finds the unemployment rate dropping to 7.9% that was in part due to the overall size of the labor force, shrinking as people stopped looking for work. Let's put this into perspective by turning live to economist Julia Coronado at Macro Policy Perspectives. Hi, Julia. Good morning. What is happening to this recovery here? This is concerning Yeah. I mean, the overall number of jobs is still large by historical standards, but we've just regained a little over half the jobs we lost in the spring. And we're losing Momenta MME way too early and where we are most worried about things in the service sector in the state and local government sector, big job losses there, so this is a worrying loss of steam. I do see fewer people now on part time layoff, but more people on permanent layoff. That's right. That's right. So the big story driving the unemployment rate early in this recession was people on temporary layoff. They are still coming back. Meanwhile, people who are permanently losing their jobs continues to rise up another worrying trend here. You're pointing out to me. Some of this is women with carrying special burdens in this covert economy, not going back to work. Yeah, The entire decline in the unemployment rate was people leaving the labor force just giving up looking for jobs, and it was mostly women. So we know there's a big challenge that people with school is school age Children are facing and they're giving up. For now, That's that's bad news. Julia Coronado at Macro Policy Perspectives. Thank you for this. My pleasure. President Trump's middle of the night Tweet, announcing that he has tested positive for Corona virus creates a wave of policy and electoral uncertainty that sent markets tumbling overnight. Marketplaces Nancy Marshall Ganz ER joins me now live from Washington, Nancy. How did market reaction unfold overnight? President Trump sent out a tweet at 12:54 A.m. eastern time, saying he and first lady Melania Trump tested positive. The Tweet says they'll begin their quarantine and recovery process immediately. But David, you can see Stop future slide down. We're just moments after that tweet about a half hour later, shortly after 1:30 A.m. eastern time the Dow future was down about 450 points, or 1.6% S and P 500 future down 1.8%. The NASDAQ fallen by more than 2% since the tweet and some of the biggest losers were stocks like Intel and Apple. The yield on the 10 year Treasury note was also down slightly and by 3:30 A.m. 2.5 hours. After the news prices had recovered just a bit. Just a bit. I'm looking at the screens. Now The Dow future is down. 408 point Still 1.5% the NASDAQ Future Down Mohr than 2%. What is Thie dynamic? Investors really don't like uncertainty, and there are so many unanswered questions here. We don't know yet if the president is showing symptoms, the White House physician sent out a letter saying the president and first lady are both well at this time. All right. And what would happen if the president were to become, you know, indisposed. The Constitution says the president can write a letter to Congress turning over his duties to Vice President Mike Pence, the vice president's press secretary, says Prince in the second lady Karen Pence, tested negative for Cove it this morning. Ah, good, Nancy. Thanks..

President Trump Julia Coronado president Nancy Marshall Ganz ER Vice President Mike Pence Karen Pence Washington David Thie White House Intel Mohr Congress Prince Apple
"nancy marshall ganz" Discussed on WNYC 93.9 FM

WNYC 93.9 FM

05:40 min | 2 years ago

"nancy marshall ganz" Discussed on WNYC 93.9 FM

"In Los Angeles. I'm kind of used on Monday Day 24th Day of August. It is always to have you along, everybody. Well, it's official Donald Trump is the Republican Party's nominee for president this year happened this morning at the GOP convention in Charlotte, the traditional role call of states. Not a surprise. Of course. What was something of a surprise, though, was the campaign's release of what it calls its core priorities for a second trump term. A lot of economy stuff on there. Big infrastructure plan more trade deals, also bringing manufacturing jobs, a million of them back from China. In fact, there was a whole category headed, ending our reliance on China and that struck us because Didn't we just sign that partial trade deal with Beijing back in January. Spoiler alert. We did, but as marketplaces Nancy Marshall Ganz, a reports It is running ahead behind. Back. In January, President Trump signed a partial trade deal with China known as Phase one. The U. S used up on tariffs and Beijing promised to increase purchases of US products by at least $200 billion by the end of 2021. Mary Lovely of the Peterson Institute for International Economics, says China's still has a long way to go. China has bought about a quarter of what would be expected this year if they were going to meet these targets. By December, 2021. The Chinese economy got walloped by the Corona virus, but also quite honestly, I never expected China to meet the goals that relate out in the agreement. Lin Fisher, Fox is a partner at the law firm Arnold and Porter. I figured they had a two year timeline to do it because no one ever thought they were going to meet those goals. If the goals aren't met, US tariff snapped back, but China is making some progress. It's on another part of the face one agreement passing some intellectual property laws. But there was supposed to be a phase to deal tackling the really big issues like cyber theft and Beijing subsidies for Chinese companies. When the Cutler, vice president of the Asia Society Policy Institute, says those negotiations never started, And now we hear from both sides is that either a lack of interest a lack of trust but no definitive date for when those negotiations might commence. And a cheque in meeting between Washington and Beijing, set for earlier this month to see how phase one is going canceled. A Nancy Marshall Genz er for marketplace It's been just a little bit more than two weeks since President Trump signed a bunch of executive memoranda as all that emergency support for the economy dried up. The expiration of the extra $600 a week in unemployment benefits was the big One and one of the president's memos was supposed to get the government back in that business, topping up unemployment benefits to the tune of $400 a week. Marketplaces, Mitchell Hartman looked into how that's going. Right now, Only two states, Arizona and Texas are paying the new benefit the president promised, or at least part of it. They're paying 300 of the 400 a week. Trump called for Michelle Evermore at the National Employment Law Project, says most states have applied to participate. So it looks like states are trying to get this money out the door. But for the most part, I think it's going to take states quite a while to get this up and running. States have to set up new online application systems and find new funding for the $100 a week. That's their responsibility. But so far only Kentucky, West Virginia and Montana plan to pony up so in most states, recipients would get a 300 a week. Top up. Michael Strain at the American Enterprise Institute says that wouldn't be so bad. Assuming the money goes out soon. He says, theory Jinnah ll $600 payment was more than many people learned while working. There's very good reason to believe that continuing unemployment benefits that air that generous would keep people out of the workforce. The expiration of the $600 benefit means consumers have had about $70 billion less in their pockets since the end of July. Mark Hamrick at bankrate dot com says that means Economy will not be rebounding to the same extent as it would have otherwise. And we know that this rebound is quite precarious. Oh, and one more potential glitch here. The money for the president's new program comes from FEMA's disaster funding with wild fires ravaging California and two Big storm's heading for the Gulf Coast. I'm Mitchell Hartmann for marketplace. On Wall Street Today, Airline stocks had a good session. Why you ask? Well because of the federal insecticide, fungicide and rodent aside, Act, of course. Environmental Protection Agency said today. It's going to give the state of Texas a waiver to said act so the Dallas based American Airlines can use a new surface disinfectant, which kills Corona virus for up to seven days on the interiors of its airplanes. That obviously would be a big deal American shares up better than 10% Today. Other airlines followed suit. The other stock story on this Monday. Apple record highs all over the place. We'll have the details when we do the numbers. WeII spent a lot of time on the show the past couple of months talking about the racism that is systemic.

President Trump China president Beijing US Nancy Marshall Ganz Los Angeles Texas vice president Nancy Marshall Genz Peterson Institute for Interna American Airlines Republican Party GOP Mitchell Hartman official American Enterprise Institute Charlotte theft
"nancy marshall ganz" Discussed on KCRW

KCRW

05:55 min | 2 years ago

"nancy marshall ganz" Discussed on KCRW

"In Los Angeles and I raised on Monday Day 24th Day of August. It is always to have you along, everybody. Well, it's official Donald Trump is the Republican Party's nominee for president this year happened this morning at the GOP convention in Charlotte, the traditional role call of states. Not a surprise. Of course. What was something of a surprise, though, was the campaign's release of what it calls its core priorities for a second trump term. A lot of economy stuff on there. Big infrastructure plan more trade deals, also bringing manufacturing jobs, a million of them back from China. In fact, there is a whole category headed, ending our reliance on China and that struck us because Didn't we just sign that partial trade deal with Beijing back in January. Spoiler alert. We did, but as marketplaces Nancy Marshall Ganz, a reports It is running a tad behind. Like. In January, President Trump signed a partial trade deal with China known as Phase one, The US eased up on tariffs and Beijing promised to increase purchases of US products by at least $200 billion by the end of 2021. Mary Lovely of the Peterson Institute for International Economics, says China still has a long way to go. China has bought about a quarter of what would be expected this year if they were going to meet these targets. By December, 2021. The Chinese economy got walloped by the Corona virus, but also quite honestly, I never expected China to meet the goals that relate out in the agreement. Lin Fisher, Fox is a partner at the law firm Arnold and Porter. I figured they had a two year timeline to do it because no one ever thought they were going to meet those goals. If the goals aren't met, US tariff snapped back, but China is making some progress. Us on another part of the phase one agreement passing some intellectual property laws. But there was supposed to be a phase to deal tackling the really big issues like cyber theft in Beijing subsidies for Chinese companies. Wendy Cutler, vice president of the Asia Society Policy Institute, says those negotiations never started. And now we hear from both sides is that either a lack of interest a lack of trust but no definitive date for when those negotiations might commence. And a cheque in meeting between Washington and Beijing, set for earlier this month to see how phase one is going canceled. A Nancy Marshall Genz er for marketplace It's been just a little bit more than two weeks since President Trump signed a bunch of executive memoranda as all that emergency support for the economy dried up. The expiration of the extra $600 a week in unemployment benefits was the big One and one of the president's memos was supposed to get the government back in that business, topping up unemployment benefits to the tune of $400 a week. Marketplaces, Mitchell Hartman looked into how that's going. Right now, Only two states, Arizona and Texas are paying the new benefit the president promised, or at least part of it. They're paying 300 of the 400 a week. Trump called for Michelle Evermore at the National Employment Law Project says most states have applied to participate. So it looks like state. They're trying to get this money out the door. But for the most part, I think it's going to take states quite a while to get this up and running. States have to set up new online application systems and find new funding for the $100 a week. That's their responsibility. But so far on Ly Kentucky, West Virginia and Montana plan to pony up so in most states recipients would get a 300 a week. Top up. Michael Strain at the American Enterprise Institute says that wouldn't be so bad. Assuming the money goes out soon. He says, theory Jinnah ll $600 payment was more than many people learned while working. There's very good reason to believe that continuing unemployment benefits that air that generous would keep people out of the workforce. The expiration of the $600 benefit means consumers have had about $70 billion less in their pockets since the end of July. Mark Hamrick at bankrate dot com says that means The economy will not be rebounding to the same extent as it would have otherwise. And we know that this rebound is quite precarious. Oh, and one more potential glitch here. The money for the president's new program comes from FEMA's disaster funding with wild fires ravaging California and two Big storm's heading for the Gulf Coast. I'm Mitchell Hartmann for marketplace. On Wall Street Today, Airline stocks had a good session. Why you ask? Well because of the federal insecticide, fungicide and rodent aside, Act, of course. Environmental Protection Agency said today. It's going to give the state of Texas a waiver to said act so the Dallas based American airlines can use a new surface disinfectant which kills Corona virus for up to seven days. On the interiors of its airplanes. That obviously would be a big deal American shares up better than 10% Today. Other airlines followed suit. The other stock story on this Monday. Apple record highs all over the place. We'll have the details when we do the numbers. WeII spent a lot of time on the show the past couple of months talking about the racism that is systemic in this economy and how to make it less. Systemic and that in a roundabout kind of way is how I found myself in Inglewood, California couple of weeks ago, Ella adjacent right out by the airport. Fucking beer. Same same.

President Trump China president Beijing US Nancy Marshall Ganz Los Angeles California Texas vice president Nancy Marshall Genz Peterson Institute for Interna Republican Party GOP Mitchell Hartman Inglewood official American Enterprise Institute Charlotte
"nancy marshall ganz" Discussed on 90.3 KAZU

90.3 KAZU

06:07 min | 2 years ago

"nancy marshall ganz" Discussed on 90.3 KAZU

"10th day of August. Good is always to have you along, everybody. We begin this work week. With business owners and accountants and economists and people who were working in this economy, trying to figure out what exactly President Trump did to this economy this weekend. Signed some things. One executive order and three memoranda after negotiations on another economic support plan on Capitol Hill collapse that much you know whether the president can actually do most of what he did. Depends on who you talk to. So rather than engage in that particular back and forth will focus today. Here on the thing he did that he can do, deferring collection of payroll taxes, specifically putting on a hold the collection of taxes on the employees. Portion of Social Security taxes, 6.2% per paycheck. If you're curious Starts September the first ends at New Year's on ly for people making less than about $100,000 a year. That much is what we know. Now. What's going to mean? Here's marketplaces. Mitchell Harmon. The committee for a Responsible Federal Budget wade through complicated tax proposals and regulations all the time. But President Maya McGinnis says the White House's memorandum on deferring payroll tax obligations leaves her with a question. Mark. Question. Mark Question Mark, starting with this. What happens come January, when employee payroll taxes that weren't collected come due. Nobody knows how the repayment part will have to be structure That's gonna complicate the life of employers tremendously if they have to be responsible for making sure that money gets paid back and small business tax advisor Barbara Weltman says this payroll tax holiday could change. So right now we're talking about deferral, meaning you don't pay now you pay later. The president has instructed the Treasury secretary to explore options, including legislation to forgive those payroll taxes altogether. Pete Iceberg at payroll processor ADP says it's going to be really complicated for employers to alter payroll tax collection mid year for only some employees based on a salary threshold. Programming. Changes of this magnitude normally require like six months to Dio, so obviously it could be done sort of an emergency basis. But many problematic, he says, Employers could be liable for not withholding enough tax and underpaying the Treasury. Randy Dellwo owns a business that makes scientific instruments in Bend, Oregon. He talked to his 10 employees at a zoom meeting this morning, and the consensus among our employees is that everyone would rather not defer their payroll taxes. For one thing, they would need to save the money that they'd have it available to pay back at the end of the year. The committee for a Responsible federal budget estimates temporary payroll tax deferment could leave US workers with as much as $100 billion of extra pay through December. But if a lot of businesses and employees follow the lead of Randy del Beau's company, the impact will be more muted. I'm Mitchell Hartmann for Marketplace. Our regularly scheduled report on inflation comes out Wednesday morning. We'll get the July consumer Price Index how much prices have gone up or Down, I suppose who is possible with all the macro economic logic of the past couple of months, though, inflation has kind of gotten lost in the mix, so we asked Marketplaces Nancy Marshall Ganz er for the CP, I primer. The consumer price Index measures how the cost of a sample shopping cart of staples changes over time. There's lots of stuff in the cart, almost everything that you could think of, and that you buy Steve Chick Ity is an economist at BRANDEIS University. Food apparel, phones, appliances but also services insurance transportation If you actually go anywhere Also energy, medical care, education, entertainment CHICKADEE, says the Bureau of Labor Statistics, or B, L S, which compiles the CPI each month collects price data from more than 25,000 businesses nationwide. Insurance Chief Economist David Person says it is a labor intensive process. Basically they go to stores, whether it's electronically or in person and write down prices, and they compare those prices to a month earlier. The bl ESS surveys consumers every few years asking what they're buying and then updates the card. The B L S also tries to adjust for price spikes, which could distort the overall picture. It releases something called the core CPI each month, which strips out volatile food and energy prices. Kathy Bostjancic, US chief financial economist at Oxford Economics, says the pandemic Is pushed up the cost of things in high demand like alcohol. Alcohol, beverage inflation has increased from less than 1%. It was 0.9 in February. Increase to 2.2% in June. The CP I can affect your wallet, Your boss may use it to calculate your next raise to keep it above inflation and social Security cost of living adjustments are tied to the C P I I'm Nancy Marshall denser for marketplace on Wall Street today. Look, here's what's going on with the markets and the economy and whatever additional support playing Congress might or might not come up with. Markets believe, mostly because history has proven them right that there is going to be another package an actual package legislation not memoranda from president And because traders believe that stocks keep going up, which in the perverse way these things work takes the pressure off Washington to actually make a deal because Hey, the markets are up. Everything must be fine. Even though 30 million people are getting some kind of unemployment help from the government. Details numbers. You know the rest. Wave reported before on this programme about the.

president Mark Question Mark US President Maya McGinnis Nancy Marshall Ganz Treasury Mitchell Harmon Trump executive Chief Economist Randy del Beau BRANDEIS University Mitchell Hartmann ADP Pete Iceberg Randy Dellwo
"nancy marshall ganz" Discussed on 90.3 KAZU

90.3 KAZU

04:46 min | 2 years ago

"nancy marshall ganz" Discussed on 90.3 KAZU

"For Kyra Zone. It is Thursday, August 6th, and we're glad to have you with us. We begin today with unemployment and I'm going to hit you with a bunch of numbers. Tomorrow morning. The Labor Department will release its employment report for July. The June report showed that nearly 18 million Americans were out of work This morning. We learned that just shy of 1.2 million people filed for first time unemployment last week. They joined the roughly 30 million Americans who are already claiming unemployment benefits. So 48,000,031 2 how many unemployed Americans are there right now? Other than you know a lot. We asked marketplaces Mental Hartman to crunch the numbers. Let's start with those unemployment claims. Economists like this number because it's up to date and reflects the actual number of claims States process last week, says Joe Bracewell, us at RS, Um, consulting all of the people who were receiving some form of unemployment benefits that's north of 31 million people. On the other hand, the Labor Department's monthly jobs report for June pegged the number of unemployed Americans at just under 18 million, but that's likely lowball right now, says Elise, schooled at the Economic Policy Institute. To be counted as unemployed. You have to be actively looking for work. But in covert times, there are many people that are not actually looking because they're taking the advice of the health experts in this country. Maybe they're caring for Children right now, who's schools have been closed? Former B. L s Commissioner Erica grow Shin has her own formula for accounting total unemployment right now, but I've been doing is adding up all of the people whose jobs have been disrupted the bulk of them probably pandemic or recession related, including those waiting to be called back from furlough and part timers who want full time work. She comes up with 25 million Back in February before the pandemic hit, 158 million Americans had jobs. So about one in six of them Don't now I'm Mitchell Hartmann for Marketplace. We got new numbers on consumer debt today from the New York Fed. And while those unemployment numbers would seem to suggest a big uptick in credit card debt that's actually not the case. Household debt fell in the second quarter of this year, the first decline since 2014. But that seems to be because of federal relief programs. And some of those like the $600 a week supplemental unemployment benefit have expired. Marketplaces Nancy Marshall Ganz ER has more. The New York Fed says credit card debt was down by $76 billion in the second quarter, the steepest decline in card balances since the New York Fed started tracking them one reason people aren't going out as much. But George Washington University economist J. Shambaugh says there's something else going on. Many people don't put their money in a savings account. They don't really have an active state savings account. But they have is credit card balance that fluctuates, and if they get a jolt of income, they're going to pay down the balance that jolt of income. It was the $1200 relief checks and $600 per week unemployment supplement, which just expired. And Elizabeth Kunkle, an economist at the job site, indeed, says the $600 weekly payments were roughly 5% of all disposable personal income in June. To make ends meet Without them the first it would be digging and Tio one savings and after that, probably turning towards the credit cards, But credit cards may not be an option. Joel Scalia, senior data strategist at the New York Fed, says banks have cut their credit card customers credit limits and scaly says low income consumers may have a CZ little is $150 of available credit to begin with. For lower income borrowers. They really may not have much credit at all to drawn and this reduction and credit limits may actually affect them. So people in precarious financial situations are caught between the end of some benefits and having no or very little credit to turn to I'm Nancy Marshall Gins er for marketplace On Wall Street. Today, Apple hit an all time high and index of global stocks erased all its losses over the past year. Ignore everything we just said friends. Apparently, it's smooth sailing. Details and some real numbers when we do the numbers With the news yesterday that Chicago's public.

New York Fed Labor Department Nancy Marshall Ganz ER Kyra Zone Nancy Marshall Gins Shin Joe Bracewell Mental Hartman Economic Policy Institute Mitchell Hartmann Commissioner George Washington University Apple Elizabeth Kunkle New York Joel Scalia Chicago Elise J. Shambaugh
"nancy marshall ganz" Discussed on KCRW

KCRW

06:13 min | 2 years ago

"nancy marshall ganz" Discussed on KCRW

"I'm so prevent ashore in for David Brancaccio, who's on assignment still no deal on Corona virus relief aid, But the House and Senate have one other little nagging issue they might want to attend to, and that is the national budget. The fiscal year starts October 1st, and the current virus crisis is just one obstacle on that long, bumpy road marketplaces. Nancy Marshall Ganz ER has more. Scott Lily works for more than 30 years as a budget staffer on Capitol Hill. He saw his share of gridlock. But, he says this year takes the cake if they started to try to move bills right now. They're pretty much behind the eight ball they hear is the Senate and the bills. Lily's talking about their their 12 spending bills, funding all the federal agencies. Congress is supposed to pass each year and send to the White House for the president's signature. Before the new fiscal year begins. Lily remembers very well the last time Congress was able to do that. September 30th of 1994. I was the staff director at that at that time, so that was the last time that happened. Lily headed up the staff on the House Appropriations Committee. Now this year, the House has passed most of the spending bills clumping them together into giant bills totaling more than a trillion dollars. The Senate, though Hasn't even started the process. Henrietta trays at the consulting for invaded Partners says it's daunting for vulnerable senators worried about the budget deficit to consider the annual spending legislation while facing a vote on possibly trillions, Maurin Corona virus relief and you get a really sense of deficit fatigue, and there these eye popping numbers. That really give everybody some heartburn when they have to take these votes. Then there's the election. No one wants to vote on controversial spending bills that might upset voters. Laura Blessing is a senior fellow at Georgetown's Government Affairs Institute. You have a finite amount of time and attention on Capitol Hill and You know, these people want to work on their re election campaigns. Blessing says Congress will probably do what it always does with spending bills these days. Ignore them. Kick the can down the road and avoid a government shutdown by passing a continuing resolution temporarily funding the government at current levels and tackling the spending bills again after the election when the coast is clear. I'm Nancy Marshall Gins, sir for Marketplace. At a time. Indeed, when it seems like Republicans and Democrats can't agree on pretty much anything the president did actually sign a bill yesterday that has broad bipartisan support. Bill. It's called the Great American Outdoors. Active throws billions of dollars towards improving the nation's park system. Conservationist say it's something they've been trying to achieve for decades. Marketplaces. Nova Sappho is here with more good morning Nova. Good morning. So what does this Ah, What is this new law do exactly Well. It allocates as much as 9.5 $1,000,000,000 over the next five years to clear up a backlog in deferred maintenance at national parks that goes back decades debris and we're talking about a lot of infrastructure. We asked Linda Bill Miss of the Harvard Kennedy School to put this in perspective for us because she used to be on the National Park Service Advisory board. They are the second most infrastructure intensive Department of government after the Defense Department with thousands of miles of roads and bridges and trails and parking lots and all kinds of infrastructure. Which needs to be maintained. Why is the park service getting all of this additional money now when it hasn't for decades? Well, the build does have bipartisan support as you mentioned, But two Republican senators from Western states have championed it. That's Cory Gardner of Colorado and Steve Daines of Montana there in tight races this November, and this legislation is something they can point to, so they were able to convince President Trump to get on board its infrastructure spending after all, particularly when the pandemic has caused a drop in attendance. At national parks in nearby communities. Here's Linda Bilmes again. The national parks are very important for the economies of particularly the Western states, and they create AH, large number of jobs in the local communities surrounding the parks. And these jobs are now threatened. Many of them have been lost. So jobs jobs jobs. Sabrina's supporters say 100,000 new jobs from this bill. Okay. Marketplace. Nova Sappho. Thank you. You're welcome. Let's do the numbers. The footsie in London is up a percent. Tao S and P and NASDAQ futures are up in the 4 to 7/10 percent range with the doubt future up 192 points. U. S. Prosecutors are seeking up to $13 billion in penalties from Purdue Pharma maker of OxyContin, the Justice Department joined other creditors trying to get a piece of Purdue in bankruptcy court. Reuters reports. The Justice Department believes it has uncovered evidence of criminal and civil misconduct in the company's alleged role in fueling the opioid crisis. Marketplace Morning report is supported by Fidelity Wealth Management, where advisers work with their clients to develop flexible investment strategies that evolves there needs change. Fidelity dot com slash well. Fidelity Brokerage Services LLC standby the candy to fund working to advance individual dignity and sustainable communities through investments and transformative leaders and ideas. Learn more k nd d a fund dot or GE. Pharmacies are rarely just pharmacies these days. They're one stop shops particularly convenient for consumers who want to consolidate their shopping trips during a pandemic. CBS reported $2.98 billion in net income in the second quarter, up a 1,000,000,000 from the year before. Marketplaces Erica Barras has more on how pharmacies they're changing their business model to address this moment. During stay at home orders. Lots of people are using pharmacists to get medical information, says Mintel analyst Gabrielle Lieberman. They are really the only people that we've maybe had a chance to interact with. From that health care standpoint. And drugstores sell more than pharmaceuticals. Much of the retail space is devoted to cosmetics, toys and food with.

Scott Lily Senate Congress Nova Sappho Laura Blessing president Nancy Marshall Ganz ER David Brancaccio Justice Department Nancy Marshall Gins Linda Bilmes Linda Bill Miss House Appropriations Committee heartburn Mintel
"nancy marshall ganz" Discussed on WNYC 93.9 FM

WNYC 93.9 FM

02:35 min | 2 years ago

"nancy marshall ganz" Discussed on WNYC 93.9 FM

"I'm David Brancaccio. The US economy contracted grotesquely, as measured by the gross domestic product figures out just now. It fell in an annualized rate of nearly 33% in the April to June pandemic quarter, the worst at the worst of the 2008 financial crisis. That drop was 8.4%. Meanwhile, another 1.4 million people signed up for state unemployment benefits in the last week, the second week in a row where that number went up. Democrats and Republicans appear no closer to reaching a deal on a Corona virus relief bill. The extra $600 a week in unemployment supplement officially ends tomorrow. Federal Reserve chair Jerome Powell is among those urging Congress to act. Marketplaces Nancy Marshall Ganz ER was on the Federal Reserve's video conference yesterday. What did Mr Powell say about this? Well, he held a news conference yesterday at the end of the Fed's two day meeting, and they decided to keep interest rates near zero by the way. But even in his opening statement, Powell said the Fed doesn't make grants. It can only loan money. And sometimes loans aren't the answer. He said several times that fiscal support that is what Congress does is needed. Now did Powell specify what type of congressional spending he was talking about? Powell said. It's going to take a while for the hardest hit parts of the economy to recover so businesses that rely on people being together in public spaces, places like restaurants and hotels. They may not be able to hire everyone back. There just won't be enough jobs and palace says That's where Congress comes in. I think those people are going to need support. I can't say what the exact level should be. It's not our role, but they're going to need support if they're to be able to pay their bills to continue spending money to remain in their current Rental house or your apartment or house if they own it, so I think there will be a need. You heard there that pal wouldn't talk specifically about the $600 a week unemployment supplement that's expiring, but it's clear he is worried about how people who've lost their jobs are going to support themselves. Marketplaces. Nancy Marshall, Guns are covering Washington. Thank you very much. You're welcome. You two check financial markets. The Dow S and P and NASDAQ futures are all down between eight and 9/10 of a percent. Crude oil traded in New York is down 1.6% to 40 60 to a barrel. Amazon reports its second quarter profits later today after the stock market's closed the January to March quarter was a strong one for the E commerce,.

Jerome Powell Federal Reserve Congress Nancy Marshall Ganz ER David Brancaccio US Nancy Marshall Amazon New York Washington
America's economy just had its worst quarter on record

Morning Edition

02:10 min | 2 years ago

America's economy just had its worst quarter on record

"Contracted grotesquely, as measured by the gross domestic product figures out just now. It fell in an annualized rate of nearly 33% in the April to June pandemic quarter, the worst at the worst of the 2008 financial crisis. That drop was 8.4%. Meanwhile, another 1.4 million people signed up for state unemployment benefits in the last week, the second week in a row where that number went up. Democrats and Republicans appear no closer to reaching a deal on a Corona virus relief bill. The extra $600 a week in unemployment supplement officially ends tomorrow. Federal Reserve chair Jerome Powell is among those urging Congress to act. Marketplaces Nancy Marshall Ganz ER was on the Federal Reserve's video conference yesterday. What did Mr Powell say about this? Well, he held a news conference yesterday at the end of the Fed's two day meeting, and they decided to keep interest rates near zero by the way. But even in his opening statement, Powell said the Fed doesn't make grants. It can only loan money. And sometimes loans aren't the answer. He said several times that fiscal support that is what Congress does is needed. Now did Powell specify what type of congressional spending he was talking about? Powell said. It's going to take a while for the hardest hit parts of the economy to recover so businesses that rely on people being together in public spaces, places like restaurants and hotels. They may not be able to hire everyone back. There just won't be enough jobs and palace says That's where Congress comes in. I think those people are going to need support. I can't say what the exact level should be. It's not our role, but they're going to need support if they're to be able to pay their bills to continue spending money to remain in their current Rental house or your apartment or house if they own it, so I think there will be a need. You heard there that pal wouldn't talk specifically about the $600 a week unemployment supplement that's expiring, but it's clear he is worried about how people who've lost their jobs are going to support themselves. Marketplaces. Nancy Marshall, Guns are covering Washington. Thank you very much. You're

Jerome Powell Federal Reserve Congress Nancy Marshall Ganz Er Nancy Marshall Washington
"nancy marshall ganz" Discussed on KQED Radio

KQED Radio

02:30 min | 2 years ago

"nancy marshall ganz" Discussed on KQED Radio

"Available progressive dot com or 1 800 progressive Pro marketplace times to prevent ashore in for David Brancaccio, who's on assignment, Republicans are expected to roll out their trillion dollar Corona virus relief package today. I know we have heard this one before, but Might actually happen This time. The bill would address the expiring $600 a week. Supplemental unemployment benefit, among other things, Marketplaces Nancy Marshall Ganz ER joins us to talk about it. Good morning. Casey. So are Republicans going to extend that $600 a week It doesn't look like it. Instead, they're expected to propose replacing it with a scale back supplemental unemployment benefit that would amount to around 70% of the last salary of an unemployed worker, and they don't have a lot of time so breed. The $600 benefit officially expires this Friday. Weren't the Republicans by the way supposed to unveil this last week, they were, but there have been disagreements over what to include in the bill Over the weekend, White House officials said, they've decided on sort of a scaled down package. It's focused on the extra unemployment payment. Also, it's expected to include liability protections for businesses and schools, making it difficult for them to be sued if a worker or student got covert 19. The Republicans are also expected to include another 1200 Dollar relief payment in their legislation, and they could push for an extension of an eviction moratorium. That's expiring. What do Democrats have to say? Well, they passed him more than $3 trillion bill a few months ago, and that legislation extends the $600 weekly payments through January. Democrats don't like the liability protections either say employers and schools would have no responsibility to keep work places in schools safe. Marketplaces. Nancy Marshall Ganz, Sir. Thank you so much. You're welcome. Longer. Those expanded benefits go UN renewed the Mork consequences. We may see the number of people in the U. S. Relying on snap benefits for food assistance. Food stamps grew by 17% in just the 1st 3 months of pandemic, and as marketplaces Samantha Fields reports, that number is likely to grow further. If some form of support is an extended one of the first things Kevin ask you did after he lost his job back in March, was signed up for food stamps. I had no other choice. I had to have something to eat. You know, he's 57 before the pandemic, he was working as a chef at Carnegie Mellon University in Pittsburgh..

Nancy Marshall Ganz ER Nancy Marshall Ganz David Brancaccio Kevin Carnegie Mellon University Casey White House Pittsburgh UN Samantha Fields
"nancy marshall ganz" Discussed on KCRW

KCRW

03:56 min | 2 years ago

"nancy marshall ganz" Discussed on KCRW

"I'm simply been ashore in for David Brancaccio, who's on assignment. Republicans did not roll out there trillion dollar Corona virus relief bill yesterday, as was expected. It's been delayed until next week. Republicans are also considering more money for PPP loans, and a Senate committee held a hearing on that yesterday. Marketplaces Nancy Marshall Ganz Cancer joins me now live Hi, Nancy. Hey, Sabri. So write. One of the things the sun has been considering is another round of PPP loans in particular, in fact how minority owned businesses might benefit Yeah. The Senate small business and under Premiership Committee held a hearing on this yesterday. There are some obstacles for minority owned businesses that apply for PPP loans. Fabiana Estrada was one of the witnesses at the hearing yesterday. She's with taxi on a non profit group that helps minority owned businesses with banking. And she told me a lot of the business owners they work with are confused about how the PPP loans work. Every time that we were trying to explain the process. I could tell you that it was really a lot ofthe pain behind every leader requests off some money. So what are they thinking of doing to address that confusion? We'll. Estrada says there could be straightforward rules on how to apply for PPP loans, she says some minority business owners Weren't sure whether PPP money was a grant or alone, and she also said the terms of repayment should be clearer. How could the government do that Make things easier to understand? We'll start a says the small business administration could provide training for people like her people who advised businesses trying to get these loans, she says. This clarity wouldn't just help her. It would be useful for any company trying to get a pee pee pee alone. All right. Marketplaces, Nancy Marshall guns or thank you so much. You're welcome. Hong Kong's national security law appears to be trickling into everyday life through the financial sector. Financial companies afraid of getting caught up in the law and upsetting Beijing. Our self censoring our China correspondent Jennifer Pack joins me now from Shanghai. Hi, Jennifer. Hi Sabri. Hong Kong's new National security law is well, it's about national security. What does that have to do with financial institutions? Well, the law is very vague, and it gives special police unit extra powers to search conduct electronic surveillance, seize assets, Chinese officials say this will only be targeted towards a small group of people. But now even professionals are worried. Well, it sounds like the financial sector is itself quite word in particular. Yeah, yeah, and they're self policing. So Reuters has recently reported that global banks are looking into whether their clients in Hong Kong have ties to the pro democracy movement in case this will get them in trouble under the new law. A pro democracy activist named Joshua Wang says he received a call last week from HSBC, asking him about a recent transfer from a book publisher. And now he's worried about whether he can open another bank account in the future. Something which he calls financial censorship, quote unquote. Financial censorship. Do you think people are are actually afraid to speak Because of this? Yeah, I mean, lawyers, bankers and investors who might have been okay to talk about the pro democracy movement a year ago are now not only silent on social media, but they're also watching what they say in private chat Apse. So the fear is that this national security law is going to crush free speech. And the independent legal system, both of which are very key to Hong Kong's success as a financial help. Marketplaces. China correspondent Jennifer Pack in Shanghai Thank you so much. Thanks, Sabri. Let's do the numbers. Taoists and P and NASDAQ futures are down in the 3/10 to 1% range with the Dow Future down 88 points. Marketplace Morning.

Fabiana Estrada Hong Kong Jennifer Pack Senate Nancy Marshall Ganz Cancer Shanghai David Brancaccio Sabri Nancy Marshall Nancy Joshua Wang China Premiership Committee Beijing Reuters HSBC publisher
"nancy marshall ganz" Discussed on WNYC 93.9 FM

WNYC 93.9 FM

02:53 min | 2 years ago

"nancy marshall ganz" Discussed on WNYC 93.9 FM

"Quite nicely. Thanks. PNC Financial Services and U. S Bank Court reported as well also quite tidy profits. But they're the apparent similarities end because PNC and US Bancorp You a whole lot more consumer business than Goldman does. And they both reported setting aside more money a lot more money actually to handle loans that might go bad. We've been telling you about the past couple of days that that's the story on Wall Street right now. Now, why are banks so worried about whether consumers are going to pay them back? Well, because we're in the middle of a pandemic in a recession. Right? So maybe a better setup is exactly how big should their worry be. Marketplaces Nancy Marshall Ganz reports Big At the end of the first quarter of this year, US consumers were record $14.3 trillion in debt. There's a lot of debt out there reading McGrath is a professor at Columbia Business School. She points out that $14 trillion in consumer debt that was before the pandemic hit. This is a kind of a time bomb that's been coming for a long time. Now massive layoffs have left some consumers wondering how they're going to pay the bills. You know. Neo lost his job as a technician on the New York set of the CBS Siri's FBI back in March. They were two days away from wrapping up Episode 19 and they decided that not only we're not going to finish Episode 19 we weren't going to finish the remaining four episodes for the season. On and that was it. O'Neill is the breadwinner for his wife and two kids. They have a balance of about $20,000 on their discover card, plus a car lease payments, Student loan and the mortgage, O'Neill says. So far, he's been able to freeze all those payments they're getting by on his unemployment check that includes an extra $600 a week, which runs out at the end of this month. So when those programs which will run out, that's when I really panicked about what am I supposed to do? O'Neill says His first priorities will be the mortgage utilities and food. The credit card debt that comes last banks know that G. Scott Clemens, chief investment strategist at Brown Brothers, Harriman, says three of the biggest consumer banks have set aside billions in the second quarter to cover loans they might have to write off. But $30 billion of loan loss reserves for a single quarter tells you that they're anticipating a lot worse to come, Clements says. Crunch time could come as soon as this September, especially if unemployed people don't find new jobs or get any more help from the federal government. I'm Nancy Marshall denser for marketplace. It's none of my business. I know. But how many streaming services are you willing to pay for? I'm asking Because NBC's new platform peacock, it is cleverly gold. Launched today into a desperately crowded field but as marketplaces, Jasmine Guard reports This one might be a bit of a game changer..

O'Neill PNC Financial Services Nancy Marshall Ganz McGrath US Bancorp US Goldman NBC Nancy Marshall U. S Bank Court Columbia Business School Jasmine Guard New York FBI G. Scott Clemens Clements Neo Brown Brothers professor technician
Trump to choose Treasury's Malpass to lead World Bank

Morning Edition

01:45 min | 3 years ago

Trump to choose Treasury's Malpass to lead World Bank

"York, President Trump has decided on who he'd like to head the World Bank. A critic of the Bank, David Malpass this according to Reuters and other published reports marketplace's Nancy Marshall Ganz on the line from Washington. Nancy good morning and who's Mr. Malpas. Well, right now, he's under secretary for international affairs at the treasury department. He used to be chief economist at Bear Stearns before its collapse in the financial crisis. He's generally skeptical of. The international institutions for one thing. He for one thing he says the World Bank's should stop lending money to China because he says China is now wealthy enough to stand on its own. He says China doesn't need low interest World Bank loans. He also thinks salaries at the World Bank or too high. And given that we will we expect him to do at the Bank itself. Well, he apparently wants the World Bank to focus more of its lending on the poorest developing countries over the past few years when the World Bank asked its member countries for more money map is initially argue against increasing the US contribution the treasury department did end up agreeing to the increase, but only after the World Bank promised to cut back on lending to China and start to rain in salaries and Nancy short answer for us. What is the World Bank? Good question. It is an international Bank that provides low interest loans and grants to poorer countries. One of its goals is ending poverty with no more than three percent of the world's population living unless than a dollar ninety day by the end of the decade. Now, the US has traditionally chosen the president of the World Bank. But mouse would need to be approved by the bank's executive board. And he could face some

World Bank Chief Economist Nancy Marshall Ganz China Treasury Department President Trump David Malpass United States Reuters Bear Stearns York Washington Executive Under Secretary Three Percent Ninety Day