25 Burst results for "Robert Kaplan"

"robert kaplan" Discussed on Marketplace with Kai Ryssdal

Marketplace with Kai Ryssdal

04:42 min | 1 year ago

"robert kaplan" Discussed on Marketplace with Kai Ryssdal

"On the program today. Well you're just gonna have to stick around now. Aren't you from american public media. This is marketplace in los angeles. I'm kai ryssdal. It is thursday today. The seventh of october good as always to have a long everybody. We have good news and we have bad news about the debt limit with which to begin today. The good news is the senate. Republicans have decided against driving the economy into a ditch. There is a tentative deal to put off a possible default until december. the third. The bad news is that there's a tentative deal to put off a possible default until december the third which means we will be doing this whole dance all over again in less than two months. So there is that you might remember. If you're the program. Yesterday i had a conversation with mary daly. The president of the san francisco fed talked about a lot of stuff. One of which was the two vacancies in the regional fed. President ranks because of the resignations of robert kaplan from the dallas fed. And eric rosengren from boston about revelations about their legal but unseemly securities trading. So the question is who replaces those two. And who decide fisher. Jerome powell says he is committed to diversifying. The regional. Fed bank so marketplace's nancy marshall genzer takes us on a walk through the process. Each of the fed's regional banks has a board of nine directors..

kai ryssdal los angeles mary daly dallas fed eric rosengren senate robert kaplan Jerome powell san francisco boston nancy marshall fisher fed
"robert kaplan" Discussed on Marketplace with Kai Ryssdal

Marketplace with Kai Ryssdal

07:16 min | 1 year ago

"robert kaplan" Discussed on Marketplace with Kai Ryssdal

"Met outside and daily. I should tell you was early. Which kind of caught me unawares. A little awkward. I just got my coffee. Water here was lake merritt right in the heart of as to see fist elbow blessing we started with how she's feeling about the economy. Not so bad is the short answer. Delta of course still being charged. And then i asked about the i word. How do you factor in the inflation thing. Because yes transitory blah blah blah but people are noticing. Well sure they're noticing because they're paying for food gas Travel you prices or higher right in people's pocketbooks. And if you look at ron my community in oakland as you know there are many low and moderate income components oakland. They feel it. What i also know though is that they want jobs and the balancing act we have is between looking through some of the shocks to inflation keeping your eye eighteen months from now and his covert roles off. We're going to see inflation. Come down that's my hope. I gotta keep data dependency. That's what i see. And then those individuals are going to do to engage and get in the labor market. That's what we need or are you whistling past the graveyard or you reasonably confident. I am more confident than whistling past the graveyard for sure. But i also recognize that confidence right now you need also a lot of humility. We are in one of the most uncertain times in my memory at the fed. I've worked here twenty five years doing this type of work boy. The world is uncertain. And so you have to keep your eye on the data and keep watching. What do you do with that uncertainty. The federal reserve is as you know as well as anybody a and i say this without trying to be awarded you guys are tightly controlled organization And there are so many things now that are outside your control. What do you do with that. Well you know it's interesting. I think we do have that Characterization tightly controlled but here's what we really are. We are responsible for taking what comes so we are agile. We have to watch. And we can't overreact to say nothing bad is happening. We're good or everything bad is happening. We have to raise rates to ratchet it back neither one of those extreme postures as reactive ones would be good. I wonder if How to ask this question in a way that that won't But you i. I wonder well i wanna i wanna be fair in the questioning right. Cheer powell and and members of the fomc and regional fed presidents spent a lot of time in the beginning of this pandemic saying you know what we got it. Where here it's okay. It's going to be transitory. And maybe it's not we don't know yet and so it is absolutely understandable to me. That people are worried. I completely get it because there is this perception. That transitory means quick to recede. But it doesn't mean quick to recede. It means unlikely to persist when covert has passed us unlikely to persist when the supply shocks have moderated will last longer than we want. Absolutely i'd say it already has. Does that mean it will be here forever or that. We're behind the curve. Not in my judgment. Let me take a little turn now to the fiscal agents and and to the politicization of the american economy we are we are approaching a debt limit I'm gonna use the word crisis on purpose Howard are you well if we get close to debt limit and there is no sense that it's going to be resolved. I am worried because we really can't afford more shocks to the economy. We still are in recovery mode. So i would consider that a tremendous crisis could have devastating effects on the financial system. And i just go to bed each night having the faith in our elected officials that they'll do the right thing. Okay this question's gonna get me in trouble. But why do you have that faith. I mean the evidence is kind of against you. I see time and time again that even though people Battle off and have this. You know sensitive brinksmanship when we get right down to it. They recognize that if we default on our debt there are lasting consequences that we had not only to ourselves not only today but to future generations. We depend on others thinking that we're trustworthy in paying our debts. That's a commitment. That i i just have to believe. Every official takes to heart back to the idea of the federal reserve being a controlled organization I'm sure you all spend a lot of time. Thinking about your. I know you do spend a lot of time thinking about your communications speeches. You gave speeches. Other fed presidents give speeches members of the federal market committee of and interviews. When when you and your or i guess people came to you and said hey listen. Marketplace wants to talk. what's the calculation. Who are you trying to get to in your communication strategy. That's terrific that's terrific question in my world and now you're gonna call me naive or maybe a pollyannaish but i want to reach every american because ultimately our work is about every american so when my team comes to me and says people wanna talk to you i say where are they in the span of people that we need to reach because if we only talk to people who already knew who we are that we've reached no one. I'm trying to reach people who might say mary. I don't really see what you're doing and in fact my prices are going up in my house. I it's hard to afford. And what are you doing for me. Those are the people. I want to talk to another question about. The fed is an institution No matter how well you communicate you all have to be trustworthy. There have been some incidents the last ten days two weeks with robert kaplan at the dallas fed and eric rosengren boston The inspector general. The fed is is looking at this The the trades and the trustworthiness. What's your reaction. Trust is our most important tool. If we don't have the people's trust then nothing we do will matter because if you think about monetary policy and how it works it works because we say we're going to lower the interest rate and it transmits through the marketplace people have to know that we're doing our work for them not for our own prophet so this has been a very disappointing couple of weeks and i take it extraordinarily seriously and i welcomed the review that we're doing because ultimately what i want to be able to do is look not congress or others in the i the average person and say you can trust me when you heard about kaplan and rosengren. Did you say they gotta resigned. I gotta go you know. I really work on this principle. That people themselves will do the right thing. And i don't offer my judgment. I offer my support for doing the hard work. We need to do which is to build back. Whatever trust we've lost trust is not something you get.

fed oakland merritt fomc ron federal market committee of an powell Howard dallas fed eric rosengren robert kaplan mary boston rosengren kaplan congress
"robert kaplan" Discussed on WABE 90.1 FM

WABE 90.1 FM

05:37 min | 1 year ago

"robert kaplan" Discussed on WABE 90.1 FM

"Saying they don't need Republican votes to raise the debt limit They just need Republicans to get out of the way but once again their efforts were blocked by GOP Senate leader Mitch McConnell And what kind of financial fallout are we starting to see from the sprinkling ship Until now financial markets have largely been ignoring this fight figuring that somehow at the end of this messy process Congress will do what it has to and the government will keep paying its bills That's still the likeliest outcome but there's a little less certainty about that now and the market was already a little jittery about inflation and other factors Today the Dow tumbled almost 570 points Yellen's warning lawmakers the country could pay a price for this battle even if they don't actually go over the default cliff just getting close could be costly She says the result would be higher borrowing costs for the government yes but also for anybody else with a credit card or in the market for a car loan or a home mortgage This would be a manufactured crisis We had imposed on this country and it would be a self inflicted wound of enormous proportions And we got kind of a preview of that back in 2011 when Congress waited until the last minute to raise the debt limit while there was no default back then the government's credit rating did take a hit I'm sure we'll have more opportunities to ask you about this debate over the debt limit But I do want to ask you about something else which is Federal Reserve chairman Jerome Powell joined Yellen on the hill today and got some questions about a controversy involving stock trades by regional fed bank presidents tell us about that Yet recent financial disclosures show that two out of 12 fed bank presidents those in Dallas and Boston were actively trading securities last year at a time when the fed was busy propping up financial markets Now both men say their trades were in compliance with the Central Bank's ethics rules but Powell acknowledge the rules need to be made tougher The appearance is just obviously unacceptable Our need to sustain the public's trust is the essence of our work And those two bank presidents Robert Kaplan Dallas and Eric Rosenberg in Boston both announced this week that they will be retiring in the coming days And Paris Scott horsley thank you You're welcome President Biden goes to Chicago tomorrow to talk about his new vaccine requirements including for larger private companies The new rules are meant to get more people vaccinated of course but they also show how Democrats see the politics of COVID changing Here's NPR's mar eliasson For months Biden resisted mandates He didn't want to make the vaccines any more politicized than they already are But when Delta surged and it became clear that most of the hardcore vaccine resistance was partisan Biden leaned into America's newest culture war the great mandate debate We have the tools to combat COVID-19 And a distinct minority of Americans supported by stink minority of elected officials are keeping us from turning the corner The bottom line Biden said is to protect vaccinated workers from their unvaccinated coworkers for a president elected on a promise to heal divisions and unify the country it was an unusual embrace of us against them rhetoric But Dan Pfeiffer former senior adviser to president Obama points to polls that show majorities of Democrats and independence in about a third of Republicans support the new rules If you are picking an issue that is supported by north of 60% of Americans that is not divisive That is doing the right thing Republican pollster Frank lund says that based on his focus groups with vax resistors Biden's new requirements should make a difference up to a point It was plain to see They were mad about it but a significant percentage of those who are not vaccinated would actually accept it if it meant that they could travel If it meant that they could continue to work in the office And what's left those people who refuse to do it Nothing is going to change their mind Biden has clearly given up trying to persuade those people he's also welcoming a fight over mandates with Republican governors like Greg Abbott of Texas heard here on Fox Executive order already in existence that prohibits any government from imposing a vaccine mandate on my fellow Texans Abbott and other Republicans say they'll sue Biden's response have at it Why the new confidence on the part of Democrats about wielding the heavy hand of government For one thing getting COVID under control is the campaign promise polls show voters care about most more than anything else COVID is what's driving Biden's approval ratings up or down But there's a bigger shift in opinion about the role of government that's also emboldening Democrats Dan Pfeiffer The pandemic made it clear to a lot of people that you need government to either to help people out when an unexpected crisis happens like this pandemic to ensure that people get vaccinated to protect people it boils down to shots shots and arms and checks in the mail And that has changed the dynamic In the great mandate debate Democrats really are from Mars and Republicans are from Venus Democrats as the governing party have to appeal to the majority of voters and show them they can get COVID under control Republicans especially those thinking about running for president in 2024 have to appeal to their base which is largely anti vax not just anti mandate If there was ever any doubt about this just listen to what happened at Donald Trump's rally in Alabama in August I recommend take the vaccines.

Yellen Biden Jerome Powell regional fed bank Eric Rosenberg Scott horsley President Biden Dan Pfeiffer Congress Mitch McConnell Federal Reserve mar eliasson COVID Dallas Boston Robert Kaplan GOP Frank lund Senate
"robert kaplan" Discussed on Squawk Pod

Squawk Pod

08:03 min | 1 year ago

"robert kaplan" Discussed on Squawk Pod

"Of time to prevent a shutdown and default. Winter won't come too soon. History senate republicans blocking a bill that would fund the government suspend the us debt ceiling that move leading democrats scrambling up to avoid a possible economic calamity. Lawmakers need to provide approve. Rather i should say government funding before friday to avoid that shutdown. The us risk to fall if congress doesn't raise the debt ceiling by point. That is likely to come in october. That according to the treasury department what do you think think. Republicans are perfectly willing to fund the government. It's not tied to the deaths which the democrats are perfectly able to raise on their own. Did you see the vote on that. It was forty eight to fifty so they chuck schumer actually voted no prefer procedural things so he could go back and do something they decided on. It's called three or four naked. They can mcconnell's as it. You need to raise the debt ceiling that you're doing all this stuff on a partisan basis the three and a half trillion the covert one point nine trillion. All this other stuff so raise the debt limit on a partisan basis and. They can do it when i asked that question to chris. Howland democrat. yeah. Why did he push back. This can't happen through reconciliation. You can't put it through reconciliation right right now now. The budget resolution doesn't provide for that and it still begs the question. Why would mitch mcconnell block a vote on the debt ceiling through the regular process. They don't want to do it. They have to tie it to the three and a half trillion dollar bill. If they want do push this through the through to that and they don't have their own party in line on the democrats raise the debt limit. I for trump to do stuff. Yeah so now. They're saying we did for you. You need to do it for us right okay. That's not the way they don't need to because they. Because i don't know i'm gonna you're gonna argue about whether what trump did was good or bad with the republicans. Do not think that we should be spending five trillion after. We've already spent all stats. What they're thinking you you wanna spend it go right ahead. But that's what they're saying if you want to raise the debt limit to spend that they go ahead but they're making you're doing all this on. You're not going to get a single repair. But they're making it very difficult. And they are slowing down the three and a half trillion dollar bill. That's what they're putting pressure on that position of it using leverage from that i would be shocked if the two sides didn't find some sort of agreement to to default on the debt would really big deal they'll fund the government. They'll say we'll do it right now. He entered mcconnell. Introduced a bill with that ridiculous arkansas. They will raise. They raise the stopgap. They'll do what they said they would. He introduced mcconnell introduce something to do stopgap but we won't really simple. There's nothing that ironic or republicans. What they are. I understood how they were doing this politically to try and slow things down. Because they don't have any say when it comes to the three and a half trillion dollar bill. I wonder if they're being a little too clever though because what they're doing at this point is probably providing some unity for the democrats to say. Wait a second. They're going to let us string this up. It did sound to me like yesterday. After nancy pelosi met with her caucus that there was quite a bit more unity. Coming out of that meeting that there had been going into that because have to get to where they need to be on the infrastructure. Which you're gonna vote on thursday. The progressives are going to have to vote for it sounds like to get some movement that was moving towards nancy. Pelosi is way on without the three because it won't be three and a half. We now know it's going to be. I don't know two and a half. Let's say whatever comes out. The tube fed presidents stepping down abruptly. Yesterday i boston fed president eric. Rosengren said he would leave his job. This thursday citing health concerns nine months earlier than his planned retirement and then later in the day. Dallas fed president. Robert kaplan said he would step down on october eighth so like next week or ten days whatever. He said the recent focus on his financial disclosure risks. Becoming a distraction so he didn't mention health and let's talk mental health Both men with the subject of controversy over stock trades last year at a time when the fed was conducting trillions of dollars in asset purchases to prop up the markets and. I mean if you really wanted to be a stickler you'd say well j. palestine and he bought a bunch of muny vaughn's while the fed with buying muny bonds. Which is i mean if you want to hang your hat on that but the other ones kaplan looks look. I don't know kaplan was was talking against this book the entire time. But i think what you're going to seize. The kaplan was making million dollar plus some not a lot for him given his may not be a lot for him. But in the grand scheme of the world. I attract a lot of attention. A lot of people are gonna try trying to understand it and you guys saw the timing on this. I mean all of this had to happen before j. Paul went before the senate today. This is the same thing as the instagram pause news. That came out yesterday. That's because they're getting called before congress this week to and nobody wants to go before congress and defend some of these positions Jay pals made it very clear that they don't want the the reputation that are fed to suffer is now clearly seen as not adequate to the task of of really sustaining the public trust in us. We need to make changes. And we're going to do that as a consequence of this. This will be a thorough going and comprehensive review. We're going to gather all the facts and look at ways to further. Tighten our roles and an standards so all of these moves happened just before congress is going to get to start asking questions. Maybe this is a good thing. Maybe the fed is gonna stop doing this. And we don't have to have these conversations so we can actually trust that. There's announcing kind. We don't have the conversation i mean. Choose not to have already by looking at the actual facts of the situation and saying look that was all within the guy if they want to change guidelines fine i. I'm tired of talking about. Maybe don't you think the guidelines should be changed anything with this might actually be considered actions changed over time. Thank any of them. Were were using inside. I looking at what was done. I don't hang on stock but they can make any sense to you whatsoever. Guidelines are going to change for the fed's going to factor. Lafayette shouldn't be able to to to buy thing shows. I have a lot more influence. You understand that i mean. Let me let me raise one more question. With kaplan and rosengren were two of the more hawkish voices on the fed. Interesting trust is starting to go to taper that these voices will be standing down but if you thought it was going to make a difference and maybe the fed would act less quickly. You may have to think again. Just based on pows. He's planning to sell before they start tapering. They're gonna say hey you guys wanna be out. And then they're gonna taper market goes down and they they get out without anyone pointing fingers at oh now you sell before you taper so you've played right into their hand some news for you. L. securities posted. Its first tweet. Since january twenty first yesterday as the hashtag came griffin lied was on twitter that hashtag refers to february hearing in the game stock saga in which citadel ceo. Ken griffin said. He never requested that. Robin hood restrict trade. Your now recognized. Oral test of pseudo securities played an important role in meeting the needs of retail investors during the week of january twenty four. I want to be perfectly clear. We had no role in robin hood's decision to limit trading in game stop or any other means stocks. I i learned a rods trading restrictions. Only after they were publicly announced so those tweets denied claims at griffin lied in his testimony. Sydell securities did not ask robinhood or any other firm to restrict or limit its trading activity on january twenty seventh a company also tweeted the ken griffin and robin hood. Ceo vlad had never.

mcconnell kaplan congress fed chuck schumer president eric Rosengren Dallas fed Howland treasury department mitch mcconnell senate muny vaughn us Jay pals Robert kaplan nancy pelosi chris arkansas
"robert kaplan" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

04:53 min | 1 year ago

"robert kaplan" Discussed on Bloomberg Radio New York

"Those energy stocks going higher as we see the Brent price rise So 80s spot one 7 is where we trade up 8 tenths of a percent as Brent took out $80 a barrel during the Asia session and the U.S. senior yield is now at 1.53% so we can see so successful And all right well let's stick with that energy story Because we are seeing that fuel crunch as you say support some of those energy stocks So as the UK's fuel crunch continues the military has officially been put on standby to help deliver supplies to petrol stations A number of army tanker drivers will be trained up in case they're needed It's the latest emergency measure as the government attempts to get control of supply chain eruptions that have drained petrol pumps But a group of companies including BP Shell and SO say they expect demand to ease in the coming days and there's no shortage of fuel at refineries and terminals And onto the fed there are plenty of jobs coming up for grabs Dallas fed president Robert Kaplan has joined Boston's Eric Rosen gren in early retirement Both have been under scrutiny over securities trading activity last year Kaplan will depart on October 8th saying the recent focus on his financial disclosure risk becoming a distraction Rosen grenville retire this week due to ongoing health conditions Sticking with the fed then the recent message coming from Jerome Powell and other officials is that the Central Bank will probably begin winding down its bond buying programs soon Though the economic recovery still has a way to go before interest rate increases are appropriate New York fed president John William cited progress on both the inflation and labor market front and arguing for a moderation in the pace of bond buying I think it's clear that we made substantial for the progress in achieving our inflation goal It's also been very good progress towards maximum employment Now assuming the economy continues to improve as I anticipate a moderation in the pace of asset purchases may soon be warned But Powell says inflation is elevated and will likely remain so incoming months before moderating That's in prepared remarks ahead of his Senate appearance today US Treasury secretary Janet Yellen also testifies Hong Kong's Central Bank asked lenders to report their exposure to debt laid in China ever grant on concerns over potential risks to the region's financial system Bloomberg told officials queried lenders on the city last week giving them 24 hours to respond on their financial commitments to China's most indebted developer both in terms of lending and derivatives And I feel like we've kind of haven't heard of evergreen as recently It's all about the fed It's all about those yields now Definitely a lingering question is when could that issue of China in its contagion rear its head again Yeah absolutely You have a grand so dominant last week wasn't it Danny apologies I chopped out of programming for a moment there but I'm back now Yeah ever ground was so dominant And almost overshadowed this China energy story that is starting to gain momentum as well So there's a lot of reasons to focus on China A lot of reasons to focus though on what's going on closer to home here in the UK with the labor shortage in particular around drivers Let's talk about that now Danny the government has put the army on sound bite to help deliver fuel to petrol pumps amid a shortage of lorry drivers and the panic buying that has since ensued The government has blamed the crisis on the surge in demand caused by the economic rebound from the pandemic but business groups and the Labor Party say that Brexit and immigration policies are also to blame cutting the supply of labor from the European Union of course Joining us now is Victoria short CEO of the recruitment consultancy rans that UK Victoria really good to speak to you so you've got your eyes firmly on the UK labor market What is the problem with a shortage of drivers Is it the aftermath of Brexit Is it the pandemic Is it weak wages in the sector Is it all of the above I think it's probably a mixture of all of the above In terms of Brexit that we can't blame Brexit alone for this They really been driven in the demand for the skills and the consumer demand has increased significantly post pandemic we're seeing people buy online which is driving an increase for drivers And we've got a lot beneath the Brexit story So look at solutions there There's about 600,000 people in the UK with a necessary license to drive who are choosing not to do so at the moment Well given that some of the solutions that the government is looking for at least in the short term things like relaxing some of the Visa rules for the EU perhaps even looking at readying the army Is that enough to alleviate some of the concerns here or does more need to be done I think mold needs to be done We need to look at the pay for drivers.

BP Shell Dallas fed Eric Rosen gren Rosen grenville Jerome Powell China Central Bank US Treasury Janet Yellen Robert Kaplan fed UK Brent John William army Kaplan Asia government
"robert kaplan" Discussed on KDWN 720AM

KDWN 720AM

02:02 min | 1 year ago

"robert kaplan" Discussed on KDWN 720AM

"And the Fed Reserve is reviewing the ethics policies that cover the financial holdings of its senior officials in the wake of disclosures that to regional fed presidents engaged in extensive trading last year. Robert Kaplan, president of the Dallas Fed Reserve Bank in 2020 traded millions of dollars in stock and companies such as Apple, Amazon and Google, while Eric Rosengren, president of the Boston Fed, traded in real estate investment trusts that, according to financial disclosure firms, And the Fed said Thursday that late last week reserve chair Jerome Powell directed staff to take a comprehensive look at the ethics rules around permissible financial holdings and activities. By senior Fed officials. On a lighter note this morning here on a F. N A Mexican fan of Disney Pixar Film Cars earned the Guinness world record by collecting 1200 pieces of memorabilia from the movie alone. Jorge Arias of Mexico City, said his Collection of items related to the animated movie began when his daughter asked him to buy toys of some of the characters so she could play with a neighbor. Yeah, he said he was so impressed with the quality of the toys and the colours that he kept buying them for himself. Saying he didn't really know how many there are so he did not stop collecting em asked 1200 items in his 15 years enough to earn the Guinness world record. He said. All of his items our catalogue, he keeps them in a glass display cases regularly gives tours of his collections at two other cars, fans. Especially Children. I don't know. Uh, it's funny how to me how the whole situation got started. I am glad that he gives tours of the place. I Not the collectors that just keep everything to themselves. It's sad. I don't know There's a Some some to people like that..

Robert Kaplan Jorge Arias Amazon Apple Google Eric Rosengren 1200 pieces Jerome Powell Thursday 15 years 2020 Fed 1200 items Dallas Fed Reserve Bank Boston Fed Mexico City Disney Pixar last year Fed Reserve millions of dollars
"robert kaplan" Discussed on The Drill Down

The Drill Down

08:09 min | 1 year ago

"robert kaplan" Discussed on The Drill Down

"Welcome to the drill down. We're gonna explain the business to respond a few stocks on the move. But first let's get the three most important business developments of the day with executive producer. Isaac webster isaac cordless with retail sales. Us retail sales rebounded in august despite the delta variant report shows that a resilience of economic recovery suggests households are boosting spending sales. At the nation's retailers rose point seven percent in august. The commerce department said that despite a big decline in car sales related to product shortages and shipping problems excluding. Cars sales wrote rose at one point eight percent. That's a big number and it shows you know just how people came on the stimulus with really improved balance sheets with lower credit card debt higher savings rates and Some people define a financially throughout the pandemic. Now let's get to the banks of i. I should say central bank. The fed senator senator elizabeth warren of massachusetts is calling on fed banks to prevent its leaders from stock trading. Senator warned sent letters to the twelve regional fed presidents asking them to ban ownership of individual stocks among their top officials at their banks. Warren has asked for response by october. Fifteenth now why this request now well last week. The wall street journal reported that dallas fed president. Robert kaplan and boston fed president. Eric rosengren actively traded stocks and other investments over the course of twenty twenty so so i looked at the trading reports from a dallas. Fed president caplin. This guy was trading shares of tesla. Were in a highly highly speculative stock. The loved testing might not. There's no one other that's going to say it's a it's a safe value investment or something's reflecting the broader economy. I mean the rest of his stuff looked pretty plain. Jane but i was just by jaw was on the floor when i saw that last week. Is just a mind boggling that this stock trading has been going on. In my opinion it's It seems like a no brainer. When you're in the position of being fed fed bank president you should not be able to trade stocks like this and maybe m- logical. I'm more concerned with the individual equity trading of our congressional leaders as well. That's also a problem it's They should be in the market. Great come on in the water's warm but individual picking of stock starts to look towards a you start to look messy. There's plenty of ways to invest without investing individually like that. So you know do your homework. Elected officials and fed presidents all right. Let's move on China has formally applied to join the eleven asian asia. Pacific trade pact. Beijing is seeking draw traditional american allies into his economic orbit. Now you may remember that. The this asia pacific trade pact was championed by president. Obama to counter china and beijing's application to join comes a day after the biden administration unveiled a new secret new security partnership with the uk and australia in the pacific region. What's dr drilling down on today. Let's look laureate education. It's not what it used to be I've never even heard so l. A. u. r. is how trade shares rose today and they've risen thirty four percent a year so tell me about laureate education so this was the business that owned a company that owned the walden education business. It was a for profit education company in the us okay trouble with federal authorities. They divest themselves of that. They sold walden university and Their businesses very different. Now they run to universities in mexico to universities and vocational school in peru there out of the for profit. Us education business. They're in very different. Markets were the role of higher. Education is very different and so other doing quite well of generating a ton of cash and indeed the sale of all the university also generated a lot of cash. They announced that they're going to distribute a big chunk of that by giving a special dividend of seven dollars per share On october twenty nine to the shareholder total distribution about one point three billion dollars and this is a stock trading. Seventeen bucks so seventy dollars share distribution pretty big dividend from these guys so i thought it was just interesting to go back and take a look at them and what's interesting about. Their business is with the walden Business out of there out from underneath or corporate umbrella and with potential problems with us regular also no longer there problem. They're showing some real growth Even throughout cove in mexico and peru and. i don't know how much this is appreciative stock price. I don't care but what was interesting to me is that they lowered what they were charging students a discounted student in mexico in particular during the pandemic would suggests that when they stopped the discounting. There's even more revenues to come and perhaps even more dividends to come here. Ceo easy lift. Sarah hanson talking about that mexican discounting and what was going through and how average pricing was down the last year. Maybe not next discounting in mexico was What do we need in order to have a very difficult time during the and those this was slightly higher in mexico than improve Is going to be short. Term nature also What is Would be Wish be which we intrude. His students would flip over to online delivery during the economic you know past. The migration to fully online on combine would driving a to be a temporary reduction in the average and pricing in mexico so temporary by definition. It's going to end. That might provide a bigger boost to this business of providing education in mexico and peru. I wish next drill down. Let's look at airy airy trades under a e. r. i. shares tumbled over twenty percent and they've lost nine percent since the beginning of the year. What's going on with airy pharmaceuticals not to be confused with our sponsors era airy Is a pretty pharma company that has been working on a treatment for dry dry as an increasing medical problems. People spend more time on their phones. More temps stay on their computers I full disclosure. i have gone through dry. I doubt many times. It is very painful. Sorry to hear that Well and in some cases was this treatment But not enough cases to be statistically significant. Let's talk about how drugs get approved by the fda so companies submit things for trials. They typically those phase one phase two slightly bigger phase two and then a very big phase three trial to make sure drugs are efficacious and safe so unusual that earlier trials the safety and hinted efficacy and the later phase. Three trial tries to prove both ins and scale but sometimes accompanied with certain drugs Approval to do a phase to be study which is bigger than a typical phase. Two study not as big as a phase three study or these studies are very expensive to conduct. And if if approved by the fda for certain kinds of Medical problems a phase. Two beast is sufficient enough to get to the market. But you've got to declare very clearly what you're Statistically significant endpoint will be which involves both the effectiveness with efficacious treatment itself. And also how long it's gonna take well. These guys airy picked us did uh statistical data. I think was twenty eight days. Twenty four days This drug would work. And then they did.

fed Isaac webster isaac senator elizabeth warren dallas fed Eric rosengren caplin mexico biden administration Robert kaplan walden education business commerce department peru asia central bank tesla
"robert kaplan" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:46 min | 1 year ago

"robert kaplan" Discussed on Bloomberg Radio New York

"Now let's find out which one it is, as we get the first word news, Ronnie Queens and you Somewhat of relief for the world's largest rubber glove maker actually wish it's all shares jump, as you say, after announcing it's been cleared to resume exports to the US top club was slapped with a ban last July on evidence of forced labor practices. The manufacturer says it remains committed to the health safety and well being of its workers. Its stock had dropped 48% since last July. Oil backtracked as investors honed in on China's decision to open up crude reserves, signaling it will not shy away from intervening in markets to lower domestic prices. Beating says it released oil from strategic reserves to try and alleviate pressure from rising raw material costs. Food prices briefly rose after a U. S reports saying production fell by the most on record due to Hurricane Ida. Fed President Robert Kaplan and Eric Rosen Wednesday they're selling all their stock holdings by the end of the month amid ethical concerns about their trading activity. The Dallas in Boston Fed president released near identical statements Thursday after their financial disclosures showed investments in a variety of stocks and other financial instruments. Both said they will invest the proceeds in diversified index funds or cash. The European Central Lying slowed the pace of its bond buying program. Slightly in what President Christine Lagarde insisted was a recalibration that does not herald a wind down and stimulus. The bank will conduct purchases at a moderately lower pace than roughly €80 billion a month, citing the economic rebound. Officials left rates on hold and did raise the EC forecasts for 2021 growth and inflation to 5% and 2.2%, respectively..

Eric Rosen 48% 5% Thursday 2021 2.2% Wednesday last July Hurricane Ida Robert Kaplan first word Both Fed Boston Ronnie Queens Christine Lagarde US European Central Lying €80 billion a month China
"robert kaplan" Discussed on CNBC's Fast Money

CNBC's Fast Money

05:48 min | 1 year ago

"robert kaplan" Discussed on CNBC's Fast Money

"One plus options writer stretching into lululemon ahead of earnings tomorrow but as a name in need of a warm up more on that when fast money returns. Welcome back to pass. We're following a developing story out of the fed. Let's get to birth of the details bertha. Melissa dallas fed president. Robert kaplan made nearly two dozen trades valued at more than a million dollars in two thousand twenty that according to financial disclosures provided by the dallas fed the wall street journal reporting kaplan had twenty seven individuals holdings valued at over a million dollars including popular. Fang names like apple amazon alphabet facebook. And tesla he also held boeing marathon petroleum chevron which was among the trades that he made valued at more than one million dollars now those trades and holdings were approved by dallas fed council that disclosure was more than any of the others in the fed eleven of twelve reported their holdings kaplan of course a former vice chairman of goldman sachs where he worked for more than two decades melissa bertha. Thank you bertha combs. I saw the headline to the store. And i thought what presidents can trade stocks and this guy had all these visions of more than a million dollars each each guy. What do you think well. Let's be very careful here. So let's just assume for a second that everything is to bertha story was above board disclosed. Signed off on all those things without question. Nothing wrong whatsoever. The optics of this are awful in a word. It's off on so people looking at this. Say see the game is rigged. Look what's going on here again. I'm not saying he did anything wrong. We're not suggesting that at all but the optics are terrible. And i in my opinion they all should know better than that he was at goldman sachs for twenty three years. I think it was named partner in nineteen ninety extraordinarily wealthy man which is great but when you take a position like all these men and women have taken. I think there's a certain thing you have to. Rise above certain things and trading stocks to me is one of them again. Not suggesting anything was done wrongfully illegally. Illicitly any of those things but the optics are just awful and and there was nothing wrong and let's underscore this point that the general counsel of the dallas reviewed every single trade. This is all above board. That is not the issue the issue here is should. These traits have been permitted in the first place or should we limit trading activity of sitting fed officials. Tim what do you think well you know. Tell me what fed. Policy's gonna be. And i can tell you what you know. A lot of stocks are going to do and there are stocks that are going to benefit from easier fed policy their stocks that are going to decline from easier fed policy or the opposite so Look ultimately the federal reserve is the most powerful body arguably in the world. I mean. let's be clear You know the the impact on on the globe from the federal reserve over the last three to four decades is nothing short of astonishing So the fact that these folks again The individual stocks and connection to underlying or bottom up elements of those particular stocks. Doesn't bother me at all and again. I'm sure approved and conflicts or vetted and this and that and again. I'll say what we've all just said no no presumed presumed impropriety in any single way But the federal reserve is to me again as we talk about the outlook. This could have been part of our our entire block Tell me what the feds gonna do. And i'll tell you what stocks are going to do you know. We have a lot of these fed officials on constantly. Were always interviewing them. We of late. We've asked him about taper timelines. We should've asked them about their portfolios. Mike i mean that might have provided more insight into where the fed is going. I think probably made assumptions that their portfolio behavior was kind of like alan greenspan's alan greenspan accumulated a decent size portfolio himself. It was all fixed income and really didn't touch it very much but of course my next question would be. Does it really matter what they own. When they've got their finger on the trigger if you own stocks or bonds and you have easy monetary policy. We've seen what the bond market has done for thirty years. Now obviously it's been very good for bonds and has been even better for equities and twenty seven transactions over the course of a year. I mean. I realized that sounds like a lot of people who probably aren't that. Active in the markets but kaplan has a big portfolio to transactions per month. A little bit of perspective his warranted. But you would think that somebody in his position as guy pointed out with. Understand that the optics. This are not great. I like that point. That mike is making dan. It doesn't matter what joan environment everything goes. higher just seems like a needless headline. i would just say this that. I have a lot of friends at financial institutions whether they be investment banks or on the buy side. they can't trade single stocks. There's just too many potential conflicts so they can trade atf's and they may have some holding periods. It just doesn't make any sense. That fed officials people in congress for that matter. Who i think have looser restrict ginger. Maybe even better access on a single stock basis than maybe somebody. The fed might so to me. I think they need to do away. With all trading by congressional people and then in the fed they probably need much stricter rules around it. It just makes no sense in people don't want to take those jobs because they want to trade stocks and options then. They should do that. They can watch fast money every day. At five o'clock they can do that no matter what. By the way coming up we're stretching to lululemon had earnings.

fed Melissa dallas dallas fed bertha dallas fed council kaplan melissa bertha bertha combs goldman sachs Robert kaplan Fang chevron tesla the wall street journal boeing alan greenspan amazon apple facebook
"robert kaplan" Discussed on Talk Radio 1190 KFXR

Talk Radio 1190 KFXR

03:53 min | 1 year ago

"robert kaplan" Discussed on Talk Radio 1190 KFXR

"Will be the case. Whether it disappoints a little or is a little better at whatever the market seemed to take that and digest it pretty well and then move on down the road. I would expect that to be the case this week, but that's what I'm most interested in Jim as it relates to economics. This week in terms of potential market movers reminds me of something else that Robert Kaplan said. You know, we spent all this money. Um Making sure people you know, have stimulus checks have child care cheques, etcetera. There really hadn't been a lot of talk about job training. Why aren't we spending less money on giveaways? And spending more money on job trainings. After all, we have more job openings than we've ever had in this country. We have a bigger disparity between job openings and people qualified to take those jobs than ever before. Why aren't we focusing on spinning our federal dollars on job training instead because job training because politicians are full of beep? And job training doesn't win votes. It's just a phrase. You know, job training ought to be front and center. Education ought to be front and center. Real education, not defense of the teachers unions. You look around. It's some of the people I was doing. Anybody remember Campbell Brown? She was a you know, a TV news person of some kind over two or three different their border for one period of time, and I was she somehow came across my my research last night and saw dug her out because I hadn't heard about her in a long time, and I wanted to check in on her remember fronts and I dug her up and she's spending a lot of time. On education, and one of the things I noted, was, she's really on the attack of our schools in some way, aren't trying to get better. They spend more time trying to defend tenure than they do defend education, and I think that's part of the issue, and it's the same thing with on with job training. We don't spend it. You know, near the time on job training. We just We like to front deals that sound good on the headline and that when votes it's one of the reasons that many of us find politics these days so distasteful. Is that we don't see more of an effort to do things to really help the job market real help, not infrastructure bills and all that stuff that Is just vote chasing. It's not to say that those things couldn't help if they were really serious about it. Is that really where we want to do that? You know, what do we want to do on the south side of Chicago? You know, I would think we want to help those kids. In the south side of Chicago. Get educated and get the heck out of there and move on to some place where they have opportunity or change the south side of Chicago to where the opportunity is there. But we don't tend to seem to get it. We just kind of stick in our usual things. So I'm really disappointed in you know the topic that you bring up and and what we see the political world. How they deal with these issues where we don't really seem to be serious about trying to help those that need to help the most. Um well, I would agree with you. Um, the Dow. Uh S and P and NASDAQ all pretty quiet, all slightly down, but the airlines trading higher homebuilders trading higher. Um, other than that, it's really a mixed bag. You've been listening to the money sent show. I don't forget the websites. Money dash since dot com. That's money Dash Since S E n s e dot com Lots.

Robert Kaplan Jim this week Campbell Brown This week Chicago last night NASDAQ one period three one two
"robert kaplan" Discussed on The Breakdown with NLW

The Breakdown with NLW

05:48 min | 1 year ago

"robert kaplan" Discussed on The Breakdown with NLW

"What if powell were to signal a taper. What would it actually be. It would likely be around bond purchases. I not anything having to do with interest rates but there are some on the fed that think that delta or not. that's exactly what we should be doing. Fed dallas president. Robert kaplan said that he thinks the fed should announce a taper of bond buying in september with implementation in october saint. Louis james bullard said that we should start the taper in the fall and in q. One of twenty twenty two. Kansas city's george just said started this year. what's more blurred argued that the economy can handle it quote. Someone wall street seem to think. The numbers are rolling over on delta. I don't really know if we can say that yet but it will peak at some point. The main message here is the economy has learned to adapt to the pandemic. He also pointed to what he called an incipient housing bubble as a concern quote. There is some worry that we are doing more damage than helping with the asset purchases. Because there's an incipient housing bubble in the us your pricing low income people out of the market. I'm not sure that is what we want to do. We got into a lot of trouble in the mid two thousand by being too complacent about housing prices. So this was all this speculation. But powell gave his speech at ten. Am today virtually. And what did he actually say. Well it was basically exactly what the new consensus thought. Let's go through some quotes. And then what. They actually mean quote at the epilepsies recent july meeting. I was of the view as were most participants that if the economy evolved broadly as anticipated it be appropriate to start reducing the pace of asset purchases this year the intervening month has brought more progress in the form of a strong employment report for july but also the further spread of the delta variant. We will be carefully assessing incoming data and the evolving risks. So what does this actually mean. We were going to indicate that we were going to start to taper but now we're focused on delta as a reason that we might need to stay the course or at least be more cautious back to powell if a central bank titans policy in response to factors that. Turn out to be temporary. The main policy effects are likely to arrive. After the need has passed the ill-timed policy move unnecessarily slows hiring and other economic activity and pushes inflation lower than desired today with substantial slack remaining in the labor market and the pandemic continuing such a mistake could be particularly harmful. We know that extended periods of unemployment commune lasting harm to workers and to the productive capacity of the economy. What does that actually mean. Well the non cynical read is that the fed is really truly obsessed and focused on the questions of the labor market and employment way more than questions of inflation. A cynical read is. Hey listen we learned our lesson from the taper tantrum. When y'all freaked out before the last time around back to powell the timing and pace of the coming reduction and asset purchases will not be intended to carry a direct signal regarding the timing of interest rate liftoff for which we have articulated at different and substantially more stringent tests even after our asset purchases and are elevated holdings of longer term securities will continue to support accommodative financial conditions. What does it mean. Even tapering won't really be a hawkish turn and tapering in the form of reduced bond purchases has implications for how fast they'll raise rates and finally one more big one around inflation quote. We've said that we will continue to hold the target range for the federal funds rate at its current level until the economy reaches conditions consistent with maximum employment and inflation has reached two percent and is on track to moderately exceed two percent. For some time. We have much ground to cover.

powell Louis james bullard fed Robert kaplan Kansas city dallas george us
"robert kaplan" Discussed on The Breakdown with NLW

The Breakdown with NLW

02:03 min | 1 year ago

"robert kaplan" Discussed on The Breakdown with NLW

"Gave his speech at ten. Am today virtually. And what did he actually say. Well it was basically exactly what the new consensus thought. Let's go through some quotes. And then what. They actually mean quote at the epilepsies recent july meeting. I was of the view as were most participants that if the economy evolved broadly as anticipated it be appropriate to start reducing the pace of asset purchases this year the intervening month has brought more progress in the form of a strong employment report for july but also the further spread of the delta variant. We will be carefully assessing incoming data and the evolving risks. So what does this actually mean. We were going to indicate that we were going to start to taper but now we're focused on delta as a reason that we might need to stay the course or at least be more cautious back to powell if a central bank titans policy in response to factors that. Turn out to be temporary. The main policy effects are likely to arrive. After the need has passed the ill-timed policy move unnecessarily slows hiring and other economic activity and pushes inflation lower than desired today with substantial slack remaining in the labor market and the pandemic continuing such a mistake could be particularly harmful. We know that extended periods of unemployment commune lasting harm to workers and to the productive capacity of the economy. What does that actually mean. Well the non cynical read is that the fed is really truly obsessed and focused on the questions of the labor market and employment way more than questions of inflation. A cynical read is. Hey listen we learned our lesson from the taper tantrum. When y'all freaked out before the last time around back to powell the timing and pace of the coming reduction and asset purchases will not be intended to carry a direct signal regarding the timing of interest rate liftoff for which we have articulated at different and substantially more stringent tests even after our asset purchases and are elevated holdings of longer term securities will continue to support accommodative financial conditions. What does it mean. Even tapering won't really be a hawkish turn and tapering in the form of reduced bond purchases has implications for how fast they'll raise

powell Louis james bullard fed Robert kaplan Kansas city dallas george us
"robert kaplan" Discussed on CoinDesk Podcast Network

CoinDesk Podcast Network

05:50 min | 1 year ago

"robert kaplan" Discussed on CoinDesk Podcast Network

"What if powell were to signal a taper. What would it actually be. It would likely be around bond purchases. I not anything having to do with interest rates but there are some on the fed that think that delta or not. that's exactly what we should be doing. Fed dallas president. Robert kaplan said that he thinks the fed should announce a taper of bond buying in september with implementation in october saint. Louis james bullard said that we should start the taper in the fall and end in q. One of twenty twenty two. Kansas city's esther george just said started this year. what's more blurred argued that the economy can handle it quote. Someone wall street seem to think. The numbers are rolling over on delta. I don't really know if we can say that yet but it will peak at some point. The main message here is the economy has learned to adapt to the pandemic. He also pointed to what he called an incipient housing bubble as a concern quote. There is some worry that we are doing more damage than helping with the asset purchases. Because there's an incipient housing bubble in the us your pricing low income people out of the market. I'm not sure that is what we want to do. We got into a lot of trouble in the mid two thousand by being too complacent about housing prices. So this was all this speculation. But powell gave his speech at ten. Am today virtually. And what did he actually say. Well it was basically exactly what the new consensus thought. Let's go through some quotes. And then what. They actually mean quote at the epilepsies recent july meeting. I was of the view as were most participants that if the economy evolved broadly as anticipated it be appropriate to start reducing the pace of asset purchases this year the intervening month has brought more progress in the form of a strong employment report for july but also the further spread of the delta variant. We will be carefully assessing incoming data and the evolving risks. So what does this actually mean. We were going to indicate that we were going to start to taper but now we're focused on delta as a reason that we might need to stay the course or at least be more cautious back to powell if a central bank titans policy in response to factors that. Turn out to be temporary. The main policy effects are likely to arrive. After the need has passed the ill-timed policy move unnecessarily slows hiring and other economic activity and pushes inflation lower than desired today with substantial slack remaining in the labor market and the pandemic continuing such a mistake could be particularly harmful. We know that extended periods of unemployment commune lasting harm to workers into the productive capacity of the economy. What does that actually mean. Well the non cynical read is that the fed is really truly obsessed and focused on the questions of the labor market and employment way more than questions of inflation. A cynical read is. Hey listen we learned our lesson from the taper tantrum. When y'all freaked out before the last time around back to powell the timing and pace of the coming reduction and asset purchases will not be intended to carry a direct signal regarding the timing of interest rate liftoff for which we have articulated at different and substantially more stringent tests even after our asset purchases and are elevated holdings of longer term securities will continue to support accommodative financial conditions. What does it mean. Even tapering won't really be a hawkish turn and tapering in the form of reduced bond purchases has implications for how fast they'll raise rates and finally one more big one around inflation quote. We've said that we will continue to hold the target range for the federal funds rate at its current level until the economy reaches conditions consistent with maximum employment and inflation has reached two percent and is on track to moderately exceed two percent. For some time. We have much ground to cover to reach. Maximum employment and time will tell whether we have reached two percent inflation on the sustainable basis. The unemployment rate has declined to five point. Four percent oppose pandemic low. But it's still much too high and the reported rate understates. The amount of labor market slack long-term unemployment remains elevated and the recovery and labor force. Participation has lagged well behind the rest of the labor market. It's worth noting that since the nineteen nineties inflation and many advanced economies has run somewhat below two percent even in good times the pattern of low inflation likely reflects sustained disinflationary forces including technology globalization and perhaps demographic factors as well as a stronger and more successful commitment by central banks to maintain price stability in the united states. Unemployment ran below four percent for about two years before the pandemic while inflation ran at or below two percent wages did move up across the spectrum a welcome development but not enough to lift price inflation consistently to two percent while the underlying global disinflationary factors are likely to evolve over time. There is little reason to think that they have suddenly reversed or abated. It seems more likely that they will continue to weigh on inflation. As the pandemic passes into history. So what does this actually mean. Well we frequently discussed on the show. The arguments about inflation or disinflation being the dominant economic modality of our time. The inflation argument rests on the idea that structurally the debts the us and other governments carry will force them to either default on those debts or inflate them away. The disinflation ideas focused on long-term structural forces such as technology demographics etc. The drive prices down over time. We spend so much time examining the day to day month to month. Language of powell. That many haven't really examined his larger belief set. It seems pretty clear that he is firmly in that structural disinflation camp. What does that mean. It means in the short term. Nothing is changing the cheap money party continues unabated at least for now moreover it means that there are multiple reasons both from the focus on unemployment and the long-term disinflation belief. That seemed to point pretty clearly to this being just business as usual regardless of the pandemic status so for those of us buying assets denominated in usd. Let the good times roll. Hope you're headed off to a great weekend guys. I appreciate you listening as always until tomorrow be safe and take care of each other piece..

powell Louis james bullard esther george fed Robert kaplan Kansas city dallas us
Dallas Fed President: Watching COVID Delta Spread for Economic Impact

Marketplace Minute

00:16 sec | 1 year ago

Dallas Fed President: Watching COVID Delta Spread for Economic Impact

"Aclu today from dallas. Federal reserve president. Robert kaplan has been among those advocating for easing up this fall on some of the pandemic era economic support coming from the central bank. But kaplan now says he's watching the effects of the delta variant for signs. He might need to adjust his

Robert Kaplan Aclu Federal Reserve Dallas Kaplan
"robert kaplan" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:37 min | 1 year ago

"robert kaplan" Discussed on Bloomberg Radio New York

"Bloomberg. Quick Take. This is a Bloomberg Business Flash. The feds threshold for tapering its asset purchase program, maybe met sooner than people think. That's the view of Dallas Fed President Robert Kaplan. Kaplan is now penciled in an interest rate increase from the Fed next year. We have a move up in long term interest rate today, 10 Year Treasury now at 1.49% in yield, so we're up more than 2.5 basis points on the session. We're a few moments away from the close of the equity session for Wednesday. Trading and right now it looks like the equity market is mixed with the Dow down about 1/10 of 1%, Although the S and P 500 holding onto a slim game, Let's call it 1/10 of 1% NASDAQ composite higher by 2/10 of 1% small caps, outperforming the Russell 2000. Is up about half of 1%. A CDC advisory committee is reviewing data on messenger RNA vaccines and their possible connection to heart inflammation. Apparently more than 1200 cases have been reported. Shares in many of the RNA vaccine makers are trading lower and I will include on that list fighter. And modern Asher's both moving lower a little bit of strength coming through in the dollar right now, and quite a bit of weakness in the Japanese yen were trading 1 11 even against the greenback. I'm Doug prisoner. And that is your Bloomberg business Flesh. My call eternal. Greedy. How about you? Let me drive. Oh, no, no, no, no. Who's gonna drive you home?.

1.49% Wednesday Kaplan Bloomberg next year more than 1200 cases 2/10 Japanese Robert Kaplan 1/10 NASDAQ more than 2.5 basis points CDC today President 1% both 10 Year Treasury about 1/10 Fed
"robert kaplan" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

04:22 min | 1 year ago

"robert kaplan" Discussed on Bloomberg Radio New York

"12 points in your equity market. We have some earnings. And raising guidance. Macy's raising guidance WALMART the outlook improves for these retailers in America, Tom John. It's really, really important headline from WalMart. We're seeing from Home Depot, Macy's and Wal Mart, nominal GDP optimism, and I love How they phrase a two year stack. John. I predict we're going to see a lot of this. You're going to see a lot of people recalibrating back to 2019. And looking at a broad, you know, you talk about getting over the bridge, John, you're going to get over it with a two year stack the line from Walmart. Our optimism is higher than it was at the start of the year since continued pent up demand. Throughout 2021 is pretty constructive stuff from the conference calls. John will be a lot of target Steve off mentioned of pricing power. I loved our Steve are said he's going for companies of display pricing power. And you wonder who those will be. It will be a source of it'll keep us employed, at least to the end of May. Thank you tell yes see, finishing a job at least until the end of the main event is like two more weeks. Lisa may 61 around that companies had up more than 70% here today, they raised their outlook. WalMart struggling here today on the stark But looking ahead, they see a better future and shares premarket up about 1% just to put this into contacts was driving. This is savings and disposable income, and you actually saw disposable income personal income in March surged to a record high about 30% above its pre covert level. This is a crying some cornerstone macro research just to give you a sense. What's driving this pent up demand People have money to spend. And the real question for the economy is how long will it take for them to wind that down? And what will the bleed through effect be in the broader economy? There's a headline for you Lace of raising the forecast on the U. S desire to get out. Shop. Isn't that the case that I've been very much very American? I got to say, I mean, it's true though, you this is what you hear. This is what you see when you go outside. I mean, if you look at restaurants, if you look at shops, I mean, you see it, I see it. Tom sees it. That Bill season Elon Musk dog, all of the above. It's a hat trick for America's retailers this morning, Home Depot. Macy, You're the hockey talk Pretty futures. That's football talks. How much Well, buddy Smp five. It is It's the price action is Tuesday, shaping up as follows. We advance to the equity market in the bond market yield. 1 64 37 change them Today. Tom came into the studio this morning and screamed the effects of market John Euro dollar 1 20 to 11. We advised a half of 1% Thomas's stronger euro. It's a weaker dollar. A dollar index with 89 handle this morning and what's important about this? Everybody's talking weak dollar. We've got a guest coming up where his shop is like, Maybe not. We'll get to Morgan Stanley on the Maybe Not in just a moment. 66 56 on wth Alex to stay fourth. 90 this year. What W C I and this has been really quite a story. This question of production versus demand Ransom demand increasing. We saw, of course, the shortage seven for the disruption last week. Meanwhile, you have this idea of a potential withdrawal from drilling due to concerns about global warming. We will take into all of that. What I'm looking for today just to go run you through the events. I'm watching 8:30 a.m. a slew of housing data We've got, of course, April housing starts and building permits. I'm looking at the building permits. How much are some of these builders looking to meet the incredible demand? Because Americans just want to go out there and shop as Walmart seemed to put it. Nine AM this to me again is the event of the day that I'm gonna be watching. Treasury Secretary Janet Yellen is speaking at a Chamber of commerce event. Expected to talk about tax rate hikes for corporations. She wants companies to be onboard good luck with that. Also, she's going to be talking about inflation transitory at what point do we care? And this is something that I think is very important. We were talking last hour about that University of Michigan survey showing expectations for 5 to 10 year inflation among consumers rising to the highest level since 2011 rising the most is 2009. That is significant that gets the feds attention. 11 AM the feds Robert Kaplan is going to be speaking in Atlanta Fed conference very interesting to hear what he says about being the Lone Hawk on the Federal Reserve wanting to raise rates in 2022. He is a nonvoting member, but still interesting to hear the dissent among an otherwise very dovish Fed. It's Lisa Cancer program in this morning, Tom. Choose how Secretary Yellin at nine o'clock. There's also a radio show taking place. Something right? I.

Home Depot Tom John Robert Kaplan Lisa WalMart 2009 Walmart 2019 Steve 11 AM Wal Mart 5 America 8:30 a.m. 2022 John 2021 Tuesday Elon Musk April
"robert kaplan" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:42 min | 1 year ago

"robert kaplan" Discussed on Bloomberg Radio New York

"I have wondered discussions. We were getting squeezed on TSX. I have wondered, like, Mm, you know, is their coordination there with his hedge funds. It's still unclear exactly who was behind the trading. Meantime, central bankers are keeping a watchful eye on the volatility, including Dallas Fed President Robert Kaplan. I don't know that I see something here that presents a systemic risk at this point, but I think it's worth monitoring very carefully. Lawmakers on Capitol Hill are also getting involved. The House Financial Services Committee has set a hearing on the matter for February. 18 and the brokerage at the center of the Trading mania continues to come under pressure. Robin Hood is on the hunt for fresh cash yet again. Bloomberg's John Tucker joins US live with details John and Nathan Robin Hood markets had discussions with banks about raising another $1 billion of debt. This comes as the brokerage continues to grapple with filling orders, according to Reuters. Any fresh capital would be separate from the nearly 3.5 billion that's already been raised by the firm of the past few days. Robin Hood told them bastards that would use the bulk of its funds as collateral. At the industry's Central clearinghouse, The firm faces outrage constantly is increased regulatory scrutiny and questions about its plans for an initial public offering. Sources tell Bloomberg the current turmoil could delay Robinson's AIPO, which was planned for his earliest. May John Tucker Bloomberg Daybreak. John. Thank you. Back in Washington, Republican lawmakers and President Biden came away from a meeting with a no deal on a stimulus package. Now the White House appears ready to push their a large bill without GOP support. We spoke with former senator from Alaska Mark Begich is necessary. They'll use reconciliation, but there's a couple pieces the Republican plan that I know Several of the more moderate Democrats have interesting, and that is the way they scaled. The direct payment to those that are truly in need. Baggage was against on Bloomberg Sound on heard weekdays at 5 P.m. Eastern on Bloomberg Radio. Democrats in the House and the Senate are laying the groundwork to unilaterally past President Biden's $1.9 trillion stimulus plan. Have introduced a budget resolution. That could be the first step toward passing a measure which just 51 votes as the White House pushes for that relief package there. More positive signs emerging in the fight against the pandemic deaths have begun to decline in every section of the U. S. As the vaccination effort picks up January was the deadliest month with 95,000 lives lost. As concern grows over new variants of the virus, Dr. Anthony Fauci is urging Americans to get vaccinated as soon as possible. Viruses cannot mutate if they don't replicate. And if you stop there, replication by vaccinating widely and not giving the virus and.

Bloomberg Robin Hood John Tucker Bloomberg White House President Biden President Bloomberg Radio John TSX House Financial Services Commi John Tucker Dr. Anthony Fauci Reuters GOP Robert Kaplan Mark Begich Alaska
"robert kaplan" Discussed on KTRH

KTRH

01:31 min | 2 years ago

"robert kaplan" Discussed on KTRH

"Courtney, Donna home. What kind of Wall Street day we're looking at today. So far. Well, it's looking good. So far. Good morning, Jimmy. Will TJ's direction, though on Wall Street could be set by the government's December jobs report, and that's to do an hour before the opening Bell Economists are looking for a game of just 50,000. The unemployment rate forecast to tick higher 6.8% ahead of that stock index futures are higher. Dow futures up 80 points Dallas Fed President Robert Kaplan spoke to Bloomberg. And he said, although inflation is likely to pick up the serious people take part in activities that were difficult during the pandemic. Technology advances that have disrupted industries and jobs will probably help keep a lid on prices and hitting the road pump prices in the U. S are at their highest level since March, according to Triple A The auto club said today's national average to 29 a gallon after Saudi Arabia cut oil output earlier this week could right now on the rise $51 a barrel I'm corny. Donahoe Bloomberg business on NewsRadio, 7 40 ktrh. You wanted to see, Miss? Wouldn't have you been hearing about the new government modernization efforts. Ai Arpaio's data science Things are changing at this agency. And people will need new skills. I'd like you to get some training. Look at this management Concepts catalog. Wow, over 275 courses. That's right, and local classrooms or instructor let online classes. We still have budget in this fiscal year. So sign up online. Advance your career with courses from management concepts, get a catalog of management concepts dot com or call 833578 84 66. Management concept delivers.

Donahoe Bloomberg Robert Kaplan Ai Arpaio Bloomberg Saudi Arabia Courtney Donna home Jimmy Dallas President instructor
Oil at highest since March on lower U.S. inventories, recovering demand

Bloomberg Law

00:46 sec | 2 years ago

Oil at highest since March on lower U.S. inventories, recovering demand

"The S. and P. five hundred energy group jumped four percent today on signs that gasoline demand is climbing as more economies to reopen that bank of Dallas president Robert Kaplan said the temporary closure of domestic oil wells maybe a peek at the moment and he said a lot of those wells will come back by the end of the year it's our own view that as demand returns people begin to drive activity resumes which it must we will work off the excess inventory as busy early as sometime in the second half of twenty twenty one or early twenty twenty to depend on the rate of growth Kaplan went on to say that the U. S. economy might recover in the third and fourth quarters of this year but not without extensive virus

President Trump Robert Kaplan Dallas
Fed Pushes Back Against Rate Cuts That Markets Continue to Seek

Bloomberg Daybreak: Asia

00:38 sec | 3 years ago

Fed Pushes Back Against Rate Cuts That Markets Continue to Seek

"Very much. Well, the fed is pushing back a little against rate cuts that the market continues to seek. And so that's why we're saying that, perhaps there's a little bit more of a hawkish tone in the fed minutes that were out today. But Ellen zentner chief economist at Morgan Stanley says the fed is unlikely to move in either direction for awhile. The bar is very high today for them to move up or down. And they're going to keep dismissing trade for the time being saying, we just don't see it in the real data. On the flip side Dallas fed President Robert Kaplan says the yield curve, indicating that expectations for future, growth are

FED Ellen Zentner Morgan Stanley Chief Economist Robert Kaplan Dallas President Trump
Growth in China is up

Marketplace with Kai Ryssdal

06:27 min | 3 years ago

Growth in China is up

"Yes, fine. It was by and large a political week in the news in this country. But once again, and for the record a this is a global economy and be one neglects economic news at one's peril. So with that five maybe six minutes now on the past five days in business and this economy Jane, smiling late of Bloomberg's soon to be in a couple of weeks the Federal Reserve reporter for the New York Times. The honorable is the markets editor at axios holiday, both ak-. Hey guy. So let me start with you. And the global economy as it were. I wanna talk about China the news we got this week that growth there was actually up a little bit. I actually saw the freeze green shoots about the Chinese economy. Could we perhaps be turning a corner on the much rumored, but never yet arrived global recession and slowdown? Ooh. Yeah. That's a that's a good question. A good way to frame that. I I we could be. But here's the thing. I I don't know. And China was always the big deal. Right. But look out at the world, and you've got gotta take a global view as you said Europe is still slowing Japan is still slowing there. They've said they're going to go ahead and do this raise to ten percent sales tax in the fourth quarter and people are expecting them to potentially vol into recession. You could have Germany and recession Italy in recession. The u k in recession, those are some big issues, and the thing with China is they're pushing the stimulus the whole idea was supposed to be pulling back stimulus unloving or delivering their economy and actually doing just the opposite. They were doing that for reason because they're on an unsustainable debt path. So yes, definitely this is good news. The the data we've seen at a China. Also, I think it is interesting that in a in a while, I think over the past six seven months avenue. Anyone questioned the date out of China as they were for years. Seems like investors have really just kind of forgotten all about that. All right, Gina smile at bringing back home because retail sales were up this week in the American economy, the Americans should shoot consumer is still buying could we perhaps be leading the way avoiding a global slowdown. Yeah. So I think it's an interesting question. And again, I think it's one that you've just gotta take with a grain of salt. If you look at a bar chart of retail sales over the last six months, they have just been gyrating wildly, you know, it's down it's up it's down again. And so I think it's really hard to take a really significant reading from retail sales. Just because we've seen a lot of payback from that really weak December number and we were kind of waiting for that. So it's hard to take too much of a not from that. I think the good news story on the US economy might be the labor market is still chugging along. You know, we saw some signs of slowdown that seems to have abated at this point. And so I think if you continue to see solid wage gains. If you continue to see really low unemployment an initial jobless claims and unemployment you could see a pretty positive consumer story. Dion this week. There were record low first time claims for unemployment and continuing claims for unemployment benefits were down as well. Yeah. And the four-week trend was at its lowest since I think it was November of nineteen sixty nine which I thought was really interesting wrote about that in the Axial markets newsletter. I actually was really interesting is there was a lot. I got a good deal of blowback from that. With people saying, hey, you know, this metric doesn't really isn't Representative of what's going on in the real economy. You also I put it a story earlier in the week about how the gig economy is distorting some of these numbers, you talk, the Dallas fed actually put out a paper saying that the gig economy has a lot of people who are working gigs or who are between jobs, but who still report themselves as employed, and that's actually sort of reducing not just the number of people who are reported unemployed, but the people who file for these kind of benefits, and that's pushing the the number down below where stoically has been. Yeah. Gina can we get away from the the headline numbers for minute here. And and I'm going to get all anecdotal on you inflation in this economy one. Again, not really a huge issue. According to the headline numbers out this week. But if you go out there gas, I mean, you know, here in California, we we run expensive on gas anyway, but I'm paying four zero nine for a gallon. Yes. Tell me about it. So so the consumers are feeling things that maybe you're not Gina shown up in the numbers. Yeah. I think it's an interesting point. I think one thing that is worth keeping in mind is that those sort of those fuel gauges food and fuel they are nosy. That's why the fed doesn't on of attention to them when it's thinking about monetary policy. But of course, consumers do feel them, which is what you can't ignore them entirely. But I think what what really matters is whether those pump prices you're seeing now whether those are sustained or whether those come down later in the year, and I think we'll have to wait and see how that plays out or I I want to do two things about the Federal Reserve number one. Robert Kaplan, the president of the Dallas fed. So this week, you know, what no matter what growth numbers do in this to me. I don't I don't think the Fed's going to change its stance on interest rates, which is as we know right now to sort of take it easy in and sit for a minute. And then I want to know what you say about that just in terms of the cost of money in this economy. Yeah. It makes sense though. Because I think the real change that was made was the fed really step back and said, you know, what inflation's not going up we don't need to keep raising rates. And if you can keep inflation at bay, which is one half of the feds mandate and unemployment isn't taking out which is the other half. Then there's no reason for them to move forward and make these moves. So I I completely understand what he was saying. All right, fair enough, gene. I'm going to turn to you and ask you the political question about the economy this week the markets and generally speaking everybody who's not a political reporter looked at the Muller report and kind of went. Yeah. You know, the economy strong. We're good would that's probably you at all. You know, I think that that's what a lot of communists were expecting going into the mall. A report I think people just kind of thought that we basically knew what we were going to know and markets just weren't anticipating a lot of news out of that. And I don't think that they saw anything that's prize them in a significant way was still making money. Right. The on. So so Soviet, right. So v and you look at what's the worst possible outcome, which is Trump gets impeach which is highly unlikely then you've got president Pence and he's good for the markets too. So I don't really know if there was a lot to take from this the bone at actually and Gina smiling soon to be of the New York Times. Thanks you too. Thank you have a nice weekend. On Wall Street today. Things are actually pretty quiet March closed for Good Friday.

FED Gina Smile China New York Times Reporter Dallas Markets Editor President Trump Axios Holiday Europe Bloomberg Jane United States Germany Dion
Bristol-Myers bulks up cancer portfolio with $74 billion Celgene deal

Bloomberg Surveillance

01:22 min | 4 years ago

Bristol-Myers bulks up cancer portfolio with $74 billion Celgene deal

"Dismissed or quit depending on whose version of events. You follow? Officially Tom dependent gone will continue to do what it always does. It will stand on a wall on defend this country to the Admiral Stavridis, some what if you could just sort of use your navel and strategic background in the context of China and a book that you have recommended called on desperate ground, and what we should take away from reading this book by Hampton sides about China and understanding them, not only from a military and trade perspective. But from a political and cultural perspective. Yeah, terrific question. The book is about the Korean war, and it's a cautionary tale for modern times. Right. In other words, we know what? War on the Korean peninsula, would look like hundreds of thousands if not millions dead that was before there were nuclear weapons involved. So a we ought to take the cautionary message and be we ought to. Remember when China's back was pushed to the wall by MacArthur with US troops surging north. They responded they responded hard. They pushed us all the way back down that peninsula. We should not underestimate China's will in a military conflict. So I wouldn't say we're quite on desperate ground yet between the US and China, but skirmishes lead to wars we need to be very cautious and careful in how we deal with China. So what is the scuttle butt among your colleagues and other officials in an outside of the military about the future of the United States role in the Pacific. We need to remain engaged to walk away from the Pacific takes away from the economic engine of the earth on the other hand, we have got to find a modus Vivendi with China, and I'm particularly concerned this week with the exchange of messages, if you will between president gee of China and president sigh of Taiwan in their New Year's messages. They went back and forth about unification that could be a real flash point in twenty nineteen. That's been relatively quiet over the last decade. I, of course, identified you Fletcher school. And of course, you exited tufts and Fletcher school here after five years herding cats known as a faculty, and I would love to know within the vogue of international relations. What was your biggest surprise for students within the international relations after five years? It's Fletcher it is so in now to do international relations. What's your message to students undergraduates graduates, and their parents who want to pursue are? Number one by far is that international relations gives you an opportunity to serve to serve your country eventually in the military, but in the diplomatic core at the Central Intelligence Agency. In international business is a form of service engaging globally provide service to the world, and I'll close by saying our students focused in particular, Tom on his shoes of equality, globally and the environment, and it's very idealistic space for students to be in. And I think is a very powerful one in today's world. Thank you so much greatly. Appreciate it writing for Bloomberg opinion as well. Former NATO supreme allied commander as well. I thought his insight there on Taiwan is fallen beneath radar. That's over though. It's on a lot of people's radio. But within the markets that we folk. Focus on that was really suggested a geography lesson to get out and just start plotting the actual distance between China Taiwan and South Korea and North Korea and Japan. It looks a lot smaller than the Gulf of Mexico, and I talk about book here. Please my book of the summer, folks. Robert Kaplan, Robert d Kaplan, the return Markle's polo world, and if you're really motivated, his previous book Asian cauldron is about the geography, Mr Fox just talks about how can we think about these issues? If maybe we know the map, but even better if we actually understand the distances between these different countries and putting you're so right about that difference between Formosa from another time and place in China as well futures a negative twenty four Dow futures negative to thirty eight the yen one oh, seven seventy four. Now, let's go to Mr Michael Barr and find out what's happening in the world. Mr var. Thank you, ma'am. Thank you, Tom. The new members of congress will be sworn in today. Democrats will take back control of the house while the Republican majority in the Senate grows by two in total. One hundred twenty seven women were served in the one hundred sixteenth congress being sworn in today. Do members include several I such as the first two Muslim women from Michigan and Minnesota they'll take the oath of office on a Koran that belonged to Thomas Jefferson. We'll also see the first native American women and the first African American women from several states US ambassador met with Paul. We learn the American arrested in Russia accused of espionage wheelin, a former US marine is being held in one of Russia's most notorious prisons global news twenty four hours a day on air and then tick tock on Twitter powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries. I'm Michael Barr. This is Bloomberg com. Kabar? Thank you so much again futures negative twenty four Dow futures negative to forty three lifted yields off yesterday to sixty four in the ten year thirty year bonds still under three percent two nine six percent. This is Bloomberg. Imagine the markets in focus every business day, P and L podcast with Pimm FOX and Lisa Abramowicz stock has not reacting happily. What's behind this engine of gains today analysis of the day's Wall Street action from Bloomberg intelligence, Bloomberg opinion, and influential news banker spill roads is the author of banker to the world wars McCarthy joins us right now with Pimm FOX and Lisa Abramowicz. Listen today on Bloomberg com. The Bloomberg business Atmore subscribe on apple podcasts. So we're kids play. Many provide the water we drink, but

China Bloomberg United States TOM Pimm Fox Mr Michael Barr Taiwan Fletcher School China Taiwan Admiral Stavridis Pacific Central Intelligence Agency Fletcher Congress Mexico Vivendi President Trump
Dollar pressured as Fed officials caution about global growth

Bloomberg Finance

00:33 sec | 4 years ago

Dollar pressured as Fed officials caution about global growth

"Of global slowing and Dallas fed Bank. President Robert Kaplan told FOX business he is seeing a growth slowdown in both Europe and China and at the same time. Philly fed chief Patrick Harker told the Wall Street Journal at this point he's not convinced a December rate move is the right move. Given the muted readings that we have seen recently on inflation CVS, health Corp and division of Walgreen's, boots alliance have been added as defendants in a lawsuit. Brought by Florida's attorney general is filing is in response to the US opioid crisis

President Robert Kaplan Patrick Harker Wall Street Journal Dallas FOX Philly Health Corp Europe China United States Florida Attorney Walgreen
Fed's Kaplan sees two-three more rate hikes to hit 'neutral' level

Bloomberg Businessweek

00:16 sec | 4 years ago

Fed's Kaplan sees two-three more rate hikes to hit 'neutral' level

"On the markets a little bit Dallas fed President Robert Kaplan said in New York that it will probably take three more interest rate hikes to achieve a neutral monetary policy. The percentage of people with no financial backup declined some over the past year, but it remains at a level that raises

Robert Kaplan President Trump New York Dallas
US-China trade talks center on rivalry over technology

02:02 min | 4 years ago

US-China trade talks center on rivalry over technology

"Special tomorrow five o'clock eastern carol i'll be thinking with robert kaplan from the dallas fed wanna talk to you about the international aspects of fed policy and also about the us economy good stuff as always kathleen hayes global economics and policy editor at bloomberg news there at on the west coast attending the hoover institution monetary policy conference at stanford and of course our thanks to philippi hernandez latin america economist bloomberg economics inner bloomberg eleven three studio let's get back to world and national news headlines and it's ever to nathan hager bloomberg newsroom in washington dc nathan carol president trump didn't know about the payment to stormy daniels when he said he didn't know about it that's what white house spokeswoman sarah sanders just said at the daily press briefing in the west wing after the president's lawyer rudy giuliani revealed last night that the president has in fact reimbursed his personal lawyer michael cohen for that hundred thirty grand stated and i'll refer you back to his comments this was information that the president didn't know at the time but eventually learn reports that federal authorities wiretapped cohen before the fbi raid on his home and office sanders is deferring questions on that to the president's lawyers and the justice department says the us cannot confirm reports that north korea's releasing three americans ahead of the president's plan to summit with kim jong un but she says if it's true the administration would see it as a sign of goodwill so far so little to say from president trump's economic team when it comes to trade talks with china the latest from bloomberg's irv chapman in washington china's economic policies plus geopolitical ambitions make the negotiations a tough slog elizabeth konami of the council on foreign relations said in a bloomberg interview superpower they want to reclaim the centrality of china on the global stage they want write the rules of the game they're made in china twenty twentyfive program to protect the chinese economy and chinese industry in ten cutting edge technologies is antithetical to getting the us companies in their opening market access and getting a fair deal economy says the administration would have a better shot against chinese cheating if it worked in concert with allies who have the.

Kim Jong Un Washington FBI Wiretapped Cohen Nathan Hager Hoover Institution Editor United States China Irv Chapman Bloomberg Robert Kaplan North Korea Justice Department Michael Cohen Rudy Giuliani President Trump Sarah Sanders Daniels