19 Burst results for "St Louis Fed"
"st louis fed" Discussed on Biz Talk Radio
"Of the Fed presidents I spoke about one early this morning. Shannon was just telling me about Bullard. Uh, James Bullard from the ST Louis Fed. Saying that, you know. So here we are. We're looking at Um You know, a short fall a dramatic shortfall. Obviously, we've got we've got spending at 6.9 Trillion, and we've got income revenue of 3.8. Um, that means we've got to print trillions of dollars worth of bonds of dead in order to have the money to pay our bills and it this goes back to what I have been saying. So if I'm wrong about this, which is sounded like I am because some of them are saying Uh, there's two are saying that we could see tapering this year start to taper. I said a month ago, and I'm going to stick to it. And so they do something different, But so they just taper but My my opinion is that they're going to cut. They're going to raise rates. Even if it's um 12.5 basis points. We're going to raise rates something and try to avoid tapering As long as they possibly can to try to put it off. Um And I say that because Janet Yellen Could care. I mean, right, she's she's saying, Okay, we raise rates slightly. That won't dramatically hurt us. You know if we raise rates by 12.5 basis points We're probably going to be adding about, uh, $100 billion. Maybe not that much. Maybe 75 billion to our service of our day. If we taper Um, we really got a problem because now we got to find somebody to buy 30 trillion $30 billion of our debt. And that's not going to be so easy because nobody is buying our debt, and I'm saying nobody. I'm talking about governments. China is not buying Japan's not buying. The Netherlands isn't buying nobody's buying. So we get China. Japan are, um, number number two or number three debt holder, the Federal Reserve being number one. So, um We? She has to be pressuring. Your own power. And I say that with a great deal of certainty, because I can't be wrong. She's raped. I would hope that at least if they're not smart enough to do something about the debt, they're smart enough to panic. About The cash flow. And if that is the case she's got to be. And I got to believe it is the case. They've got to be pressuring, Uh, pal, that you can't stop. You're it. You're our largest buyer day. You so you can't stop. That's my thought. But if they raise rates, I would be very happy. But I would like to see both go on like to see, you know, cut 30 billion of debt a month. That we're buying and raise rates by I'm not even asking for a quarter ammonia, asking for an eighth of a 1%. Uh, rates and nobody's going to care about that The markets are going to care. There will be a knee jerk reaction in the markets, so they realize it's only an eighth of 1%. And it doesn't necessarily mean that it is a trajectory that's going to continue for any length of time. Although I kind of think would be because inflation as 5.2% Is really at I don't know 10, 10 and 10.7, at least by now, Um, they got to start raising rates. Even Bullard was talking about inflation running hotter than what? They wanted it to go. Did he say that? Yeah. Again. Yeah. And you know it is And do you heard the I didn't? I was on the era when we didn't hear it. But did he say anything? Alluding to that It wasn't temporary inflation, or did he? Did He dismiss that at all? Or just didn't bring it up? He didn't use the word transitory or say it was temporary. He did say that he expects it to linger into next year. So all right, so That's his way of not saying that's not temporary, like, Yeah, you know, um And I'm hearing company after company I read, uh from company financials. Last night. That It's a It's, uh, CS 30 who I added to my buy list this morning, but I read their financials last night or, uh, I already reviewed their financials. This was something else that I get. Um, I'm able to get And indicating that they are somewhat concerned about not only wage inflation, which is, uh, you know, a big big issue. But they're saying product inflation. So if any of you know the company I'm talking about CS 30, you know that they deal in a number of different commodities. And food, kinds of things. Um, that would not be considered commodities, but, um, are food products, uh, to make their food products and they're saying that the cost the law can't raw materials for lack of better, um, but the raw materials that they're dealing with every day. Are going up to a mathematically so they say that there Inflation, both wages and and raw materials. Is here to stay, and they are, in fact passing on all of it along to the consumer so that that connects the dots perfectly to know when we start to talk about While if inflation is going up, What do we do about that Well traditionally to hedge to inflation has been equities. And that's the perfect way. The explanation you gave just totally connects the dots between how we combat inflation. Hands. I put them on the vilest. So, um, because number one, they're staple. Good, solid, stable and you're going to see Um more hedging. I believe in things like consumer staples. Commodities..
"st louis fed" Discussed on Bloomberg Radio New York
"Market today. I guess you could say the reopening trade moved into high gear We heard from ST Louis Fed Bank President Jim Bullard. He was saying. The American economy is booming, and it's on a path to recover more than it lost during the pandemic. Not going to be a surprise that long term interest rates were up 10 year Treasury now at 1, 48 and yield terms, So if you look at what's happened in the equity market, financials benefited from the move up in rates, but we also had a lot of strength and energy and industrial names. Crude oil rallied in New York to 73 66. So we were up by more than 2.8% today now where the Dow was concerned to gain of nearly 1.8%, the S and P hired by 1.4%. But the NASDAQ composite was only up about 8/10 of 1%. Bitcoin. We can quite debate in the New York session. At one point we were down. Let's call it 9% near the New York close. This is after Beijing ordered the Chinese payment platform Ali pay and some domestic banks in China not to provide services in any way linked trading of digital currencies. Bitcoin right now, 8 31,045. I'm Doug prisoner. That is your Bloomberg business flesh. This is Bloomberg's sound on on Bloomberg Radio. It was one of the most read stories today on the terminal, the Supreme Court ruling against the N C. Double a In what was an antitrust case will now allow member schools to provide more.
"st louis fed" Discussed on KIRO Radio 97.3 FM
"Look at this and as our young people Study this Christian Eriksen, the Danish soccer player who collapsed on the field during a euro match has been released after a hospital operation Wall Street nearing the end of its worst week since January. CBS is Jason Brooks says blame interest rate jitters. Investors hit the sell button after ST Louis Fed President James Bullard told CNBC that he thinks the Fed may need to raise its benchmark rate in late 2022. Compared to the new forecast, calling for two hikes in 2023 checking Wall Street right now the Dow is down 435 points. This is CBS News. Looking to hire indeed will help you speed up the process. They have 135 skills tests to help you find the right candidates. Faster visit indeed dot com slash credit. Oh, Canada. Why must you continue your border closure? That story after Cairo radio, real time traffic. Here's Emily Martin. Good morning. Right now. We're looking at about a 20 minute travel time out of Linwood and into either Bellevue or Seattle With west on 5 20 running about five minutes faster into Seattle Bonfire. It's going to be heavy between state route 16 in the Puyallup River Bridge with brake lights again as you head towards the West Seattle Bridge. Work on four or five is still pretty much a chore as you head through, renting with continued delays on North and 167 between Pacific and all Gonna This report sponsored by Whole Foods market prime members this week at Whole Foods market enjoy 25% off sustainably. Wild caught previously frozen Chilean sea bass fillets through June 22nd while supplies last Learn more on the whole foods market out there. Cairo Radio Real time traffic a memory Martin, now from the Cairo Radio News Center at my Northwest calm, it would be great to see the border reopening, But that business.
"st louis fed" Discussed on Bloomberg Radio New York
"S and P 500 sector in the red right now being led by the reflation sensitive financials. As well as the energy stocks. Almost every stock in the Dow Jones industrial average down right now led by Intel and Goldman, Sachs, only Salesforce Khamis inching up right now. And Jones industrial average on pace for its worst week since January. Tech heavy NASDAQ 100 set a record yesterday, dropping from that record high Today, the Federal Reserve officials may be getting an itchy trigger finger. Let's find out more in this report from Bluebirds Vinny Del Giudice, the U. S economy is bouncing back and inflation is bouncing higher interest rates could follow as soon as late next year. That's the assessment of ST Louis Fed President James Bullard. Speaking on CNBC the question, Bullard says his will inflation persist. Consumer prices registered the largest year over year increase since 2000 and eight Me. Tell Jude Iceberg Radio volatility The name of the game today That could be possible when we get the options and futures on the indexes and equities expiring triple witching we call it s and P 500 right now. 41 points lower. It is down. 1% 4180, the NASDAQ 166 points lower. That's down half a percent at 14,099, the Dow Jones industrial average 480 points lower That's down. 1.4% were 33,339 2 year yield at a quarter of a percent. The 10 year at 1 46. And then you have the 30 year above 2% 2.3%. Right now we check the markets for you every 15 minutes during the trading day, right here on Bloomberg Radio. John Tucker. That is your Bloomberg business. Flash Matt John..
"st louis fed" Discussed on 710 WOR
"About how a permanent portfolio Could've whether the pandemic I'm always interested in portfolio construction and weathering whatever pandemic could be. We're going to talk about that next, but first I wanted to ask you the answer to my question. If you're if you remembered it. About this 2% inflation per month, so that would mean analyzed 24%. For a year. Are we in hyper inflation it lasted, it would certainly be recognized a sniper inflation. I don't know if it's gonna last I hope now. Those people are in the dark because the index is that the government likes best. The ones that the news media almost 100% rely on. They don't look at any of the other indicators that might be more informative. On the government isn't necessarily giving us the most informative indicators. In fact, I'm very strongly of the opinion that the government is giving us some of the least informative indicators we might want if we're interested in inflation. If we anybody's worry about inflation needs trumped early warning. And you, uh timely information about whether prices are rising one up. And cross in front. Large parts of the economy. Prices don't rise much because they're just posted prices. They don't reflect the balance of splendid man that is balanced by non price competition. So we have to go to a part of the economy where it's the price mechanism that true that quill liberate this plant amount and that's the goods market. And in the goods market way have the indexes exists. The government produces them, but no one's watching them because the government gives them no credibility doesn't mention them. They're just part of the enormous body of digital information that they Produce every month. But if you spend a lot of time analyzing different indicators, it isn't very long before you find out which ones give you information within which ones don't On the index I mentioned and I only found it a couple years ago gives you better information about inflation for consumers households than anything else I've ever seen. And what indicator is that? You're teasing us. See index of consumer goods prices, in other words, it nor services. Okay. Just yes, well, the price mechanism actually operates, and that is the index that's rising. It's 2% rate. The mama There are others actually also doing the same thing that they're not just closely related to households. Consumers. There's something called the producer Price and next on the Producer Price Index also contained some services. So if you get rid of those Is a producer price index Fingers and that's also rising. If anything a little faster than the consumer price index for this one other indicators. Do you like him? What made you realize that this is the one index To really show you warning fair warning for inflation. Well, there are several indexes that give you early warning. They're all tied to the market for goods. The more you use the market for services, the more distortion on delay your inserting into your calculations. So quite a number of indexes. But what you want is something that the Covers the ast much of the whole economy as you can and the broadest index, and that's why I focused on this one. There are others that resemble it, and they are very, very closely correlated with it. So what other indicators do you like? Besides this, anything else that you say? You gotta You gotta look up this one. You know, I mentioned the there's an index of producing goods prices. The old commodities index is has a history dating back to the middle of the 19th century, if not before. Hardly any of the current induction of the government's using date back that far because they keep changing the methodology by which the indexes created. So they're just a few indexes even serious fact. Historically. Which retained their integrity. And so and what was that index. The index of commodity persecution price index commodities, which used to be known as the wholesale Price Index, that the big producer price Index Is not a bad indicator, but it's nowhere near as precise as they want. I'm suggesting so. Producer Price Index Buy commodities. I found this on the ST Louis Fed website. Same index. Yeah, it goes back to 1913. Probably your books go back earlier, but That's probably right here. Um, kind of your point about library library. I love this. We're like hanging out with the Fiscal library in So they took two years to find these things because nobody else is pointing you in the right direction. So, so I'm looking at this producer Price index, So I see nothing happening. Then it's shooting up. It's almost like You know the inflation chart. Um Since 1927. And now it's ZPA taking up. Is that a temporary Speicher's it more of an enduring spike. That's a big question, and I think it depends on what happens to the dollar. If the dollar falls or stabilizes. If the price of gold stabilizes, then it's temporary. But if the price of gold continues to rise when I'm talking about the price of gold, corrected for the Geopolitical influences. That's a big story in itself. How do you make that correction? But once you make that correction, the possibilities rising now, and if it continues to rise for a long time, then that is certainly a very serious problem and eventually lead to hyperinflation. Yeah. Historically in the U. S. The government has always intervened to stop it from continuing. Um sooner or later that it could go on for a long time before they Stop it, and they would do that through raising interest rates or what Well, that is a very well widely believe story, but I don't think that is where it happened..
"st louis fed" Discussed on Bloomberg Radio New York
"Of the ST Louis Fed had to say just a short time ago about monetary policy and how it fits with what we're hearing from Others at the Fed President Biden convenes a commission to consider fundamental changes of the Supreme Court and prospects for a new approach to corporate taxation. From the Bloomberg Interactive Brokers Studio in New York. Welcome to the second hour of balance of power. I'm David Weston. We've just heard from James Bullard, president of the ST Louis Fed, and this comes on the heel of chair Jay Paul's comments on both Thursday and Sunday of last week and Vice chair Richard Claire's interview on Friday. Take us through what we are learning we welcome now. Bloomberg, chief U. S. Economist car wreck Adana. So, Carl thank you so much for being here. I'd have to say listening to all of this. It sounds like their main goal is not to disagree with each other and not to tell us too much. But what did you get out of? Jim Bullard remarks. Absolutely well. President Bullard made a very clear he's gonna leave the talk of paper and all that can of worms to J Pal T o handle, But I think what we're seeing here is a fed that's very optimistic and growth prospects for this year. But very noncommittal on what the inflation outcome will be. And so it's a wait and see approach whether it's Jim Bullard, saying that or vice chair Clarida last Friday on Bloomberg TV, just basically pleading for patients to see if prices Do start to moderate in the back half of the year, and I thought we heard from President Bullard of ST Louis. I thought we heard we're gonna be patient for a while, because if I heard him correctly, he was saying, we can't even really look at the numbers until the second half of the year because of this so called base effect problem. There's so much noise in the data, and this is true, especially for the inflation numbers, but also for other rest series will be watching this week. We have industrial production kind of royalty by these semiconductor chip shortages. This week's retail sales numbers will have a steroid shot from the rebate checks that were distributed 300 billion of rebate checks earlier in the month of March. So what a whole slew of economic data will really just be. Clouded over with this reopening on stimulus impact on the economy that is pushing overall economic group to a paste this quarter, which we think could be 11%. That's a moon shot for growth and an old industrialized economy like us, so sparks will fly and there will be smoke and Short circuit says this place out and certainly we do have to wait and just one final point to put on that note about the inflation numbers being distorted. They will absolutely be distorted in the near term because we're comparing toe last year when the economy was locking down, however, inflation's of lagging indicator so even as we get past mid year These base effects will roll out of the tabulation, but still we have to remember inflation legs. What's happening in the real economy by as much as six quarters, so it's going to take a long time to sort this out. But the Fed might not have that luxury. They're gonna have to start making in the vestment in the back half of the year, And that is just exactly where we're gonna go as an economist, Give me a little tutorial here. What's a lagging? What's a leading indicator when it comes to inflation, because the Fed keeps saying we can handle it when it comes, But might it be too late? What is it, looking at to make sure it doesn't get behind the curve on inflation? Well, I don't think the Fed is too concerned about getting behind the curve on inflation, Given how low inflation has been for the last decade or two, really in. They certainly know how to fight that problem. If it should arrive, they can raise interest rates. Tamp down that economic growth and that will restrain inflation. What we really need to focus on here as we're Kind of in the fog of war with the supply chain bottlenecks and all of these kind of idiosyncratic factors that distorting the price data. What we have to stay focused on news workers, wages and household income creation, because if we're not seeing inflation in worker's paychecks than any price pressures we see will be ironed out in very short order, either through substitution. Or other producers stepping into alleviate the shortages on so just watching what happened in the headlines. CP III is kind of ah false narrative on the inflation front. We really have to people seeing the past through that that wage price dynamic. The feedback loop is critically what will influence if inflation really is here to stay? What about looking at what the companies were about to start announcing their earnings? Tell us about how they're anticipating costs in the future? We had that Peopie I never which is an eye. At your last week. Certainly we're going to as we go through earning season and pay attention to company anecdotes. Over the next several months, we're going to see a narrative that kind of fans, the flames of this inflation narrative, and I think that could be misleading. What producers hope. They compare for along to consumers and what ultimately they'll be able to again goes back to that paycheck Feedback loop, which we have described, so, you know, it's a very interesting environment for margins. For companies. Rising inflation always is not necessarily a bad thing for companies if they could pass the prices along, But that's going to be that the tests not so much for this. Earning season, which is kicking off in earnest this week, but more so when we get to the 3rd and 4th quarters of this camp under here, so the ones we're kicking off this week particular the big banks, is it just happy days are here again. I mean is you see the yield curve steepening and reflation trade coming on full full bore. Well, a steeper yield curve has been the harbinger of happy days for banks for a very long time running David for about 1000 years. I think it's not more So what? Certainly that's one positive factor helping the banks. The other cause of the factor. Helping banks is that the share of defaults in delinquencies on loans has been much smaller than expected. Whether we're looking at consumers, aura or companies and so well, that's another reason for banks to be optimistic about the outlook and certainly When the economy is growing at a healthy pace and unemployment moving lower and all those released ages of a cycle are kicking in. That does tend to be favorable. Thank you so much for being here. Carl always love having you. It's Bloomberg chief U S economist car with Madonna coming up. What did we get for our $79 billion and support for the airline industry?.
"st louis fed" Discussed on Bloomberg Radio New York
"The Washington consensus. Jacob Every bit of your work identifies what Williamson wrought. Do we have a Washington consensus today in honor of John Williamson? Well to begin with. I really want to share other proposals, sadness and sorrow and with death off our good friend John Williamson. Wasn't going consensus was a concept that was developed about the notion that there was a consensus off world does it take to be a successful economy? And I believe that today we do not have the Washington consensus, and the reason is that especially since the great financial crisis off 2000 and 789, subsequently with Subsequent crisis seems to be that policymakers in many places of the world have, I would say lost their compass. And if you lose your compass, you cannot have a consensus about a strategy. I think that the challenge today is again to record both of the basic principles that are robust and what are the things that can be put pushed aside and I think that concerns The way I see. I still think that the issue of globalization off openness off making sure the globalization succeeds off making sure that the benefits are shared off, making sure that the machinery is in place to bring about this sharing off the benefits, he says to be a strong fiscal system. Strong text system and very independent well. Law focused monetary policy, not looking at the long term and not just about the shoulder way. Have you heard about my dad? He was a false ID that economies that could see behind. Balefully was so successful on Mondo, Owen Williams and Jacob Franco. We're so honored to have you with us, the former governor of the Bank of Israel, Lisa, just we get so fortunate sometime with when we have our guests on Lisa. I thought what was fortunate today and this is a rare occurrence. We saw a lot of positive tone on equities and on the price of fixed income. This is a faith based market. This is a faith based market that we're not going to get serious inflation that is beyond transitory will be trance. Story. That is the belief that I'm going to try to see how many times I could get you to drink before the end of this show on you Just toss that cup over your shoulder for all the people who are listening on radio, But this really is the idea here. People believe in a bull market without the inflation that so many people are worried about that could kill it. That was a setup for this morning, and that set up will be tested by the economic data will have that was for you today but much more through the week with inflation and retail as well. Futures Negative five very much stable, barely off. That surge that we saw in front of the vics 17.6 coming up the gentleman from ST Louis James Oh Bullard of the ST Louis Fed..
"st louis fed" Discussed on Squawk Pod
"That cannot happen right. But we now know that they didn't really have much choice based on acquitted insolvency of of the. It wasn't that wasn't regulation. That was sort of survival for robin hood. Absolutely but why were they in that position. You now right right right. Well what are you telling people since they listen to you right now are you. I know that i see that. Amc game stop some of these Gamified stocks are on your watchlist. What does that mean there on your watchlist. Well i have to keep my eye on them. Of course that doesn't mean that. I am necessarily investing in them by mrs dow jones. Mike goal is to make finance accessible to everyone. And i don't want there to be barriers between people on their money. And so you know. Wall street made a big mistake with young batstone as they underestimated them and they were able to rally the market and they also read in the beginning like now. I'm on squawk box. And so i think that game stop was a big wake up call and it's important for me to keep an eye on what's going on but it's not something that i condone. I'm all about buying and holding and long-term strategies. I'm in school right now. Becoming a financial to plan her. But all right hailey. So how you've been you watch. Squawk box is this. Your your your show of choice at the and you tell all your followers to watch screaming from the rooftops. This is my favorite show. It is because we're gonna come back. We're gonna that that was really good answer. That was a really good answer. A hailey thank you. It's been it's been good having you on. Let's do it again. 'cause we're this. I don't know what chapter were on. This story isn't written yet. We'll see what happens. You all kinds of these activities all right. Thanks so you think andrew. We'll take it. I think you're i think you're going to be on tiktok what i think joe. That's what i think. I think you're going to be on tiktok and instagram. Because mrs dow jones is going to start to promote your accounts. And then you're gonna you're gonna blow up over there and we have house in a good way in a good way in a good way. Okay and that squawk pod for today. Thank you for listening as always swapped boxes hosted by joe kernan becky quick and andrew ross sorkin weekday mornings on cnbc at six am eastern to get the smartest takes and analysis from our tv. Show right into your ears. Subscribe to swap pod. Wherever you get your podcasts. We'll meet you back here tomorrow at change healthcare. We're all about making the health care. Experience better for everyone. Our data and analytics driven platform streamlines the billings and claims process payments are made quicker easier and more accurately saving valuable time and administrative costs at also helps healthcare providers share and access relevant data more efficiently leading to more informed diagnosis and better patient outcomes. Learn more at change. Healthcare dot com slash. Cnbc change healthcare. Incite innovation transformation..
"st louis fed" Discussed on Squawk Pod
"Gone for centuries. Hey jim jim do you. But the rationale that a bitcoin as a store of value in the face of the debasement a fiat currency. Do you believe that argument has merit. And does it make sense for people that companies that are now building positions in bitcoin. Do you believe that has merit and do you yourself. You bought any bitcoin. I don't actually can't Invest i only invested in it exits and stuff Currency competition but going on forever. The british pound in the nineteenth century was the top dive. I was replaced by the dollar in the twentieth century. still still the tile currency but it is a currency competition and investors. Want a safe haven. They want a stable store value and then they wanna conduct their investments in that currency the yan also very strong euro also very strong. Neither of those is going to replace the dollar. It'd be very hard to get a private currency. That's really more like old to you. Know to play that role. So i don't think that that's where we're going to see any changes in future. You must think fifty thousand dollars is is an insane value for bitcoin. Then yeah i mean. The gold price has moved up and down since since the seventies and eighties. That hasn't affected fed policy. As far as i can tell you you would characterize bitcoin at this point as the so. I guess you said the rationale here is it. So then i guess year as a rival to gold and that might be a good way to think about it. Oh okay all right so you. You don't have an opinion whether fifty thousand is a bubble for for bitcoin yet. That wasn't the case you were making now. I just think from fan policy and is going to be dollar economy as far as the acting. See and Dollar gold lukaku. Really as far as i can see and whether the gold price goes up or down were the bitcoin price goes up or down. Doesn't really affect that. Okay all right. Great to hear the thoughts of one of our great central banks. They i know you think about all these issues a lot. We appreciate all the time he gave us today. President board thank you. Thanks for having me. Next on squawk todd inside the infamous game stops short squeeze with the millennial investing youtuber mrs dow jones. It was a really exciting time but in the same way there's a lack of education so it was a bit scary because you saw young all taking west the money that necessarily did it make sense. We're back after this at change healthcare. We're transforming the healthcare system for the better our platform powers data in analytic solutions to connect payers and providers helping facilitate billions of healthcare transactions process trillions and claims and share relevant data for smarter clinical decisions. It's how we're making the health care experience better for everyone. Learn more at change healthcare dot com slash cnbc change healthcare insight innovation transformation. You're listening to squawk pod from cnbc. Young people have never been so interested in. Cnbc millennials and gen z years from reddit. Forums and twitter threads are tuning into financial news outlets for the scoop on reddit game stop and amc and even bitcoin but before this. Where were they well. Clearly they were on the wall street. Bet supper at it. But about three hundred thousand of these young people were also tuned into the musings and explainers of a mrs dow jones on instagram. Tiktok and youtube for their daily dose of finance. Lord knows i love to buy whole by since the pandemic day treating has become super trendy. I have not been on a roller coaster. Like thought since i went to six lakhs. This story is everywhere and it sort of makes you feel like you could just read wall street. Bats and tomorrow be a millionaire. That is not true. It is actually extremely risky. Who needs bravo when you can watch. Cnbc these days. I mean this is good reality television. That was haley sacks founder. And ceo of mrs dow jones she hears from and speaks to via instagram stories and tiktok polls the population that drove much of the financial news cycle the past few weeks so we invited her onto squawk box. Here's the not quite millennial. Joe kernan kicking off his conversation with highly sachs this morning aka. Mrs dow jones haley. I've just if you could just think back right. When the frenzy reached its peak or when it was beginning. And just tell us where you say were you at that point thinking. This is great or a more about this at that point because you're maybe somewhat torn but a lot of people got involved but i don't know if that's the right way to do it look. I think that it was a really exciting time. It was great for readings spur. cnbc. I'm sure and great for interest in finance but in the same way there's a lack of education and so it was a bit scary because you saw young people taking risks of their money. That necessarily did it. Make sense right because i remember at the time on twitter. You can imagine because people go off on twitter and i made one comment that this is investing question mark because it didn't look like investing at that point and that caused all kinds of that caused a huge ruckus. Saying who are you to decide what investing is but you know to watch a company that i don't know what the prospects are sarah. I've did it skit on on the prospects for game stop but obviously going from single digits to four or five hundred. I don't know what that is exactly. I don't know. I guess it's investing but you see my point and i'm not sure that's the way that people should be exposed to graham and dodd type building. Wealth for retirement in the stock market. Absolutely and look gamification is when you apply game mechanics into non game environments such as the stock market and like with all teams. There is always a loser and so you saw d treating explode during the pandemic because people were at home and they were bored and in one way it was great because of propelled interests in to the markets and into financial literacy but it was also extremely risky. I mean you think about a chess match. Would you play chess. You didn't know the rules. Ambassador is not a game. So how would you. There's going to be a hearing. What would you like to come out of the hearing in terms of radio education. Do you think a a stronger. Touch on regulation would be a positive or negative for this nascent. You know read it. Fueled of sort of education of all these millennials. Look it's up to capitol hill to the the who are what regulations make sense. But i will say that with this. Crop of young ambassadors should come new regulations and the sec need level up. I mean for example when robin hood halted trading dot disrupted the whole market..
"st louis fed" Discussed on Squawk Pod
"Business models. Sky is the limit so where investors why value those really driving a big chunk of the market that that's just as toughen investment decision as ever band so so i'm not really sure we wanna call part bubble. That's just normal. Investing tried to try and get your head around what those companies really worried at. I've tried to encompass everything. But i'll spell some of it out for you. The city of detroit bonds less than two percent junk bonds under four percent for the first time ever specs. Ipo's bitcoin game stop. None of that feels to you like. Wow maybe we're printing too much. I did say there's a lot of action in markets And i think you do. See you know speculative frenzies from time to time in markets and that's part of the part of the process. Think you have to understand Those that are involved have to understand that. Yeah you can make money but you could also lose a lot of money. Something like game. Stop shooting up to you know really high levels and then coming all the way back down to an economist that just says that there was no value Created at the end of the day But a lot of money changed hands. So there winners losers. I suspect that you know the winners. Were more professional. Traders in the losers were more retail investors. But i don't know you know who is winners and losers there. But there's there's no value created in the sense that got shot these great business model looks like they're going to be very profitable god solar. I'm just wondering what is it. Do you think that that central bankers can be confident that that they'll have time to see the actual writing on the wall for for when it's gone too far or will it already be too late. That that's the biggest. Worry that that. I think i have yeah. I mean the the fence been arguing about bubble since the irrational exuberance speech which was nineteen ninety six. So it's a. It's a long running debate. And i will say that to our credit. We have much better radar about a possible causes of financial upset. We got regular hearts and and regular monitoring that we didn't have before the national crisis this trying to assess more formally that we would have before whether we've got bubble conditions that could evolve into an anti crisis. Now i would say that it's a natural conditions generally are very good and right now. I'm so sick of financial stress. Index for the saint. Louis fad for instance is at a low level. So we're not in panic situation that we were last march or april or that. We were in two thousand and eight so from the fence perspective. We're doing well so far. And we are monitoring closely to see us. Get out of control and jim. I've two questions one related to what you're talking about. And we've been having a debate on the program today but obviously for weeks given the stimulus bill on hand. What do you think the impact of a federally mandated. Fifteen dollars minimum. Wage would be on the employment picture as the fed. Season had no reason to doubt the cbo analysis. You'd lose about one point four million jobs. That's a lot of ups. Those that are still in the labor market will get a get a raise But i also think there medium term effects you're talking about a lot of industries that have a lot of turnover. Maybe they don't replace some of those workers later and instead they decide to invest in new technologies. So i think it's You've also got unevenness across the country. Different labor markets across the country had like the adjustment for that. That's why i liked the minimum wage debate to be a local debate in different parts of the country that adjust different labor markets. I think that's also the benefits of the minimum wage. They go to middle class families with kids so a big chunk of that is not really helping the poorest segments of society. You're talking about youth unemployment for middle class upper middle class families. So there's a lot to talk about minimum wage Debate forever and then just topic was to bring back to bitcoin. Since i know that seems to be the top of these days how do you see the fed thinking right now about the idea of a digital dollar a digital coin and whether it's important that the us be on the forefront of crypto currency and whether effectively the fed could let bitcoin reach escape velocity at. Perhaps it's already reached escape velocity. Yeah i don't know where we're looking at it but you know dollars could be traded electronically atty so it's not. I'm not sure that that's really the issue here. The issue is privately issued currency and We've had historically privately should currency the united states before the civil war and You had what at the time would have been you know something. Like the equivalent of bank of america dollars j. p. morgan dollars and wells fargo dollars. And they were all training around and they traded at different discounts to each other and people did not like it at all. And so i think the same thing would occur with bitcoin here. You don't wanna go to non-uniform currency where you walk into starbucks with assyrian maybe a with ripple maybe it would bitcoin. Maybe you'll pay with a dollar. That isn't that. Isn't that what we do this. We have a uniform currency that came in at the wartime dollars dollar and another thing about it is that there's already currency competition while believers hundreds of currencies globally and Some of them are privately issue but they have to be all the same restrictions that all of us do try to run a currency regime. You half have stability about future supply and it's not at all clear that and you have to have stable value against other against goods and against other currencies and you know private currencies aren't doing a lot of them. Being issued. milt treatment predicted that. If you allow private currency issue issuance you get a lot of them. That's exactly what's happened here. Thousands of coins Virtual coins have been issued and So this is just part of the normal currency competition.
"st louis fed" Discussed on Squawk Pod
"And do all right all right. So it's hard you sell your wife honey. Next on squawk pied the state of the us economy from post pandemic recovery to tax sky. High valuations saint. Louis fed president. James bullard the biggest thing in equities is really these tech firms. Our do you value these guys. I'm not really sure. We want to call that part bubble. That's just normal. Investing trying to get your around what those companies are really worth. We'll be right back at change healthcare. We're transforming the healthcare system for the better our platform powers data and analytic solutions to connect payers and providers helping facilitate billions of healthcare transactions process trillions in claims and share relevant data for smarter clinical decisions. It's how we're making the health care experience better for everyone. Learn more at change healthcare dot com slash cnbc change healthcare insight innovation transformation. Greco this music good morning. Welcome back to squawk box Here on fund. Cnbc it's dangerous when someone has free rein isn't it andrew. I'm joe colonel. Along with andrew ross sorkin and people at home are being subjected to this. Going back is off. I know i know my lord show music. It ought to be You know you should feel a son coming up not that That eight three ninety. That comes up on my phone because my kids. We have the same apple account and every once in a while it comes up. It's like what is this. You share that with with your kids anderson. Do they have all the all the same music on your music or do you do. You don't do it that way. We share on spotify but and this is a big. We should talk about that another day. But the the idea of explicit music is a big problem and we've tried to keep that from happening. But i'm i'm having problems i mean i'm having lots of issues. There's one song i heard. It's like echinacea believe this is for anyway peer. Did you hear how good that morning mood was going though. Second how relaxing. See this is what i was eighteen. Seventy five edward league. Bitcoin mmediately turn immediately turned down. Once it hit it. And and i guess some people thought you know that hit fifty but think about this. I don't know exactly the date. That tesla got in muscat in. But this thing's probably up. Forty percent. Possibly got in micro i mean how about. They've they've made. Might they might have made a five hundred hundred million dollars. Just just doing it. And we talked about it when it was when it was pennies basic. I mean we did or at least ten bucks or something so the the numbers are mind. Boggling the we've seen just in the last twelve years thirteen years. Whatever it may remember interviewing the interviewing the incas but winkle boss twins probably what two thousand eleven twelve if if we ayman right half paying attention. But we've been listening more. We wouldn't be waking up at the hours joe. We just counting our bitcoins possible. They've possibly but what. I saw yesterday a list of the price of bitcoin on every valentine's day for the past twelve years. And you know it's kind of interesting because sometimes it's you know it was half the year later a couple of times it was half of what it was the previous year but has been a a pretty consistent. Move way way way up. Fifty thousand eight. So so if andrew always cisco's creamer. Yeah i i have to disclose that that i own some so ownership thousand. Do we think he's the next year august. Joe at fifty thousand is the next stop one hundred thousand or is the next. Stop thirty thousand. I me personally. I would i if it went down there. I think that's a time when maybe you put more to work down there. You know what. I mean at thirty or you know twenty. I don't know. I don't know you know nothing would surprise me. Nothing would surprise me but it'd be nice to get at twenty again navy. Yup for what the certainly look like. It's headed very. Tim sued now. Now that this rate now at this rate we should talk to bullard about this because i wonder whether stanford all the free money. How much is ended up in bitcoin. Joining us now. Is jim bullard. Saint louis fed President and mr bullard dead kim. Since the last time we saw you it's been a while but welcome back great to see you just in general. We're what we seem lately and that is kind of a a new paradigm almost for inflation expectations. Are you comfortable in that new paradigm right now and should we all be comfortable where we are especially given what we may be seeing in terms of asset inflation in so many different sectors of the investment markets. I think we're in good shape with inflation right now. At of course we've missed our inflation target to low side for really since twenty twelve. So now i think you do have some more inflation pressure in the economy. I do think inflation on move up this year. You're seeing tips based play measures. Move up a pretty smartly few months or weeks and The the different tiers at the fed's going to take on board. I think I certainly am. We've been trying to get placement target. We'd like to mess on the high side for a while a balance off the mrs low side that we've had and then we'll Better establish the idea that we're actually gonna hit the inflation target over long term and that will cement flesh expectation so i hope we can get all that to play out here on with the pandemic coming to an end and as you mentioned lots of action in financial markets. Did you kind of deliberately avoid my my use of the term asset inflation in that in that discussion. That's what i'm alluding to say. I'd say equities but i wouldn't say they're on the whole it wouldn't say that were in You know they're probably at the upper end of what you'd like to see if you're dot and graham type investor but The biggest thing in equities is really these tech firms. And how. I see these guys. They've got great technology. They've got great revenue.
"st louis fed" Discussed on Squawk Pod
"Bitcoin blastoff the crypto currency hit an all-time high as it enters the mainstream. So joe at fifty thousand is the next stop a hundred thousand or the next stop. Thirty thousand a vision for the post pandemic economy saint louis fed president jim bullard. Let's be clear. Wall street thinks the us economy might grow faster than china this year roaring us economy. You'll by fiscal stimulus and monetary pots and breaking down the red rebellion with haley sacks aka mrs dow jones the millennial money youtuber reaching three hundred thousand young investors. Like with all games. There is always a loser. I mean you think about a chess match. Would you play chess. You know the rules in blasting is not a game. Those stories plus frigid temps in texas and the other social media out there. I heard there's this. What does it the facebook or something where you put a bunch of stuff on and people talk and i got a phone clubhouse anytime soon it's tuesday february sixteenth. Twenty nine squawk begins right now. Good morning welcome to squawk box. Right here on cnbc. I'm andros zorkin along with joe. Kernan becky quick off today. Bitcoin we are getting very very close to fifty thousand forty eight thousand nine hundred. Eighty two Flirting all weekend With that fifty thousand price target Well price target that. Somehow i know i i. I was on clubhouse joe over the weekend where there was it said. Is it going to fifty thousand or five thousand. So there's different views. But but i imagine it might get fifty thousand before if it ever ever going to five thousand i think be people higher i when you said Sixty eight thousand thought. I just succeeded. No no no not quite But yeah nothing nothing would surprise me at this point five five might surprise me a little too low but that would be that would be that would be. Do you believe that it's controllable by either governments or regulators probably still is but there's a lot of people that think it so decentralized that it isn't so i don't see you see the true zealots. I saw one over the weekend. Wrote like a forty point. I don't know if you saw it. I might send it to you but it was pretty. I mean there's there's all kinds of philosophical things put in about the move away with from big multinationals away from even being really domiciled in one country to where bitcoin just fits in with this whole. I mean it's a little scary. It's almost like the. The world is going to be controlled but shocker by corporations more than governments at some point. Some people say that's already the problem but yeah five would be but you know what but don't I've i've given up a given up on trying to explain a lot of things ratio because there's more things in heaven and earth but you gotta be careful quoting shakespeare because someone might call you out on it by the way happy. Valentine's day bullard the daily bulletin. You to it was. It was a little bit late but we were i. I felt you thinking about me. I'm you you yourself. Felt me thinking about you. To some extent tax we could tell we can tell the audience. We texted each other on valentine's day. We we did. Love is in the air not specifically about like our time we were. We had a we. We are colleagues we we need to. There is some coordination that goes into this crazy thing that we do every day but Yeah we did we. Did you know who isn't in touch anymore of we're at that. I think we're a little bit too. Accessible in reachable aren't we in terms of Of work and everything else. I mean it's just the drop of just being you know. We're we're reachable. Anytime might send something to you right now. Right now academy not something weird. Don't worry not a picture nothing you know. Don't don't get on my phone out. Delights happening here all right good severe winter storm slamming texas and it's creating unprecedented Demand brian sullivan joins us with a look. At the impact on the energy sector. It is a scary story of there. Are millions without power in texas and parts of louisiana oklahoma all up and down the spine if you will of the mid west basically. Here's what's happened. This ultra deep freeze de coldest on record but close to the coldest ever recorded is causing this massive surge in power demand. Everybody's trying to crank the heat so the power companies are trying to crank it up. The problem is there's a lot of shortages in power availability. some of that has been caused by pipeline issue. Some of that has been caused by wind turbines. Joe simply freezing and not being able to spin remember. Twenty three percent of tech texas's the wind capital of the united states. Twenty three percent of their power is generated by wind and a large portion of that is not spinning. Either it's frozen or frozen too tight that there's not enough wind onshore. There's more offshore that it can rotate that you've also got other issues. The more traditional supplies to cap that off and we talk about these short and game stop. Well that's kind of happening guys in. The electricity market is well because the power distributors and the power suppliers. They're having to go into the open market to buy electricity. We don't think it works like that but it does give you guys some examples or natural gas will bring up the nat gas chart and it'll show that natural gas wholesale trading three bucks and change. Look at that seat. There you go. But people are buying that gas joe at two three and four hundred dollars not three because they either are contractually obligated to buy any price or they need it. We've talked about wholesale electricity prices. That have gone up with a thousand percent in twenty four hours in parts of texas. It won't last forever but right now. That's causing rolling blackouts as many as three plus million. Texans do not have power right now. Which means no heat and often no water no heat when it's five degrees outside guys is a dangerous and scary situation this. I'm not sure. What type of conclusions are innuendo or anything else to draw from this. I just don't think. I'm going to draw any brian. I i'll. I'll leave that to the to the twitter sphere which i've seen emptying you've seen it. I'm seeing all kinds of stuff. Green new deal really these so the windmills. Freeze.
Senate Banking Committee Approves Contentious Nominee Judy Shelton for Federal Reserve Board
"We begin in Washington. Judy Shelton, President Trump's contentious picked for the Federal Reserve sport of Governors. Was cleared a key hurdle to confirmation by winning the approval of the majority of the Senate Banking Committee. She was back in the party load a party line vote today 13 to 12 committee also voted in favor of Fed nominee Christopher Waller, currently director of research at the ST Louis Fed. His nomination past 18 to
"st louis fed" Discussed on Bloomberg Radio New York
"It is nine thirty AM in Hong Kong and here in Singapore on Juliet's Ali and I'm Doug Christner at the Bloomberg interactive brokers studio in New York Hong Kong is and now trading if you look at the hang sang were down one point four percent and on the mainland Shanghai composite weaker by more than fourteen sep one percent all a lot of risk off in markets and some good reasons why will go through that momentarily when Brian Curtis joins us right now this hour's top business stories Julia well the Federal Reserve Bank of Philadelphia president Patrick caucuses the corona virus pandemic is worsening U. S. inequality along income and racial lines he says the health crisis hasn't so much changed things as simply expose them the Philadelphia fed chief cited a census bureau statistics showing US income inequality in twenty eighteen reach the highest levels in fifty years of Dada he also cited a St Louis fed study indicating that as of twenty sixteen the top ten American at top ten percent rather of American households controlled seventy seven percent of the nation's wealth and Mr Harker's boss that would be fed chair Jay Powell will take part in a moderated virtual discussion tomorrow with the griz walled center for economic Policy Studies at Princeton New Jersey we have Bloomberg's Michael McKee with a preview the fed chairman is no stranger to public appearances these days yet wall street's fascination indoors the hope seems to be he'll reveal something new or different to help sustain the equity rally how will be questioned by Princeton economics professor Alan blinder a former fed vice chairman so expect a focus on the outlook for the economy and monetary policy if Powell outlines plans for keeping rates lower for longer investors should be happy Michael McKee Bloomberg daybreak Asia and at the same.
"st louis fed" Discussed on WIBC 93.1FM
"Dana show sorry not sorry sorry shows that I turned down the motors the queue you would be very impressed with DSL data that I can tell you delivering the truth are you a citizen or are you a subject because I'm a citizen and I'll ask whatever question I want to win ever I want to if your subject you go wanting to be a subject I'm a student as I said it's a transition and so this is really going to be in my opinion we'll see but I think it's going to be something that's going to be very special it's a transition to greatness and greatness is next year right from the beginning I think we're going to do fantastically well I view the third quarters I said as a transition quarter could be pretty good but a transition quarter toward the end of the fourth quarter you're gonna see some numbers that are going to be tremendous I think and next year you could have a potentially the kind of numbers that you saw before maybe even better because there is a pent up demand well true and I hope that's correct I really do hope that's correct and we we're talking about want to contest actually it was not come this is the chair of the St Louis fed saying a really ultimate we're gonna get back to where we were gonna take a little bit but we'll get back and we can see huge growth welcome back to the show I'm gonna last in the last I call my latest book grace canceled available there go and check it out at delos on Twitter that's rated sassy Instagram is where I share pictures of the stuff I bake in my dogs and sometimes guns and which I need to get to an upper range the what I have to arrange it I love it that I usually go to his clothes because I don't know why and then I'm going to get to my I need to get to my other range though my tech's gonna experience I do I need to do some personal training a gun holster anyway all right that's why I put that stuff on Instagram and then Facebook if you ever want to go back and see any of the interviews that we've had with guests on the program they're all up either on my official channel under the lash on YouTube or official election Facebook they're all up there I read other uploaded every day to organize newest one first every day so go and check it out I wrote about destiny last ofcom last night a friend of mine who works in the film industry a friend of mine who is an actor in the film industry sent me this thing from their union SAG AFTRA I know that it's like the something artists guild I don't know for going after I don't know what after his but did you know that what is it Gabrielle is that the check from then on to one she looked and said president is that who that is my thinking now you can look it up anyway they sent out the thing it says join hosts you know the sad president Gabrielle Carter is and the I. A. T. S. E. international president that low for engaging virtual town hall discussion with Hollywood's representative across Adam Schiff the discussion will focus on the impact of the coronavirus future relief efforts getting entertainment and media industry back to work so that's all taking place actually right now and it to me it kind of sounds like Hollywood's gonna press shift a little bit to get back to work and I was talking to another friend of mine who works in like a digital asal selected that we know we know some people who work in the film industry and I've always been very envious of the skills of this one particular individual that I know and I don't like to put because everybody's you know Google you'll get blacklisted but one of our friends in this like this digital master and they actually go through and they do they help with digital fax into all of this stuff and what they were saying is that it's not so much like the digital folks haven't been as impacted but it's your composers scoring craft services stunt stunts extras it's Sandra that even when things start to re open they're going to be the heaviest hit and there's a lot of discussion as to what how can you re open and carry on with filming the way that you have before because many times if you're on location somewhere your people are sharing golf carts to get around to different locations you have craft services table you have you know everything you're the make up room everybody sharing stuff and so you're kind of within tight quarters anyway and then a part of me and I told my friend I said honestly part of me doesn't even give a crap because everybody's been to need a ten cent and so many Chinese funded production companies that they've that they've made it to where what comes out of Hollywood has to be completely deferential to China communist China so we give a crap but at the same time every it's so it's kind of ironic that everyone is isolating at home for the most part and this is the time when you need that escape and yet the entity that provides it has been shut down and may even be actually more adversely affected than other industries so I was looking at the other thing that really fascinated me because I like reading about the behaviors of people there's a bit of psychology that really attracts me and where where it concerns consumerism the psychology of consumerism and I did not realize and I asked my friend this is because apparently there's already a little bit of a struggle going on between Netflix and Hollywood and theaters right because theaters have these agreements with these companies production companies with universal's with paramount's with everybody else at to have these releases for these films and when you have studios that are talking about just releasing it straight online well a lot of these theaters are getting really really mad about that because your start you're talking about cutting their income all right this is going to change I think theaters after this the numbers and I don't I mean they're high that's basically what you need to know in terms of Netflix Hulu not just for the consumption but also subscriptions all the subscription based services Disney plus which was actually really highly criticized when they first came out because they only have like Star Trek was the lead I mean unless you have little kids Star Trek was like the only thing that seems kind of cool to watch was on the car like a new one and then but that was it they can't carry a new subscription service by itself but then all the same people that have been knocking at subscribe because everybody needs a release right so they there's going to be a dramatic change in the nature and Forbes wrote about this in the nature of distribution and this is going to affect you and how you know maybe they're moving it maybe maybe that date night this is gonna end up affecting you in some respects because of the way that like movie theaters right now they said that universal detonated a nuclear bomb in Hollywood this is from Forbes the trolls to movie and they're still fighting on that it was the first mainstream movie to be released online Skippy movie theaters entirely families could stream it at home for twenty Bucks well then Disney released onward digitally and it is incredibly destructive more so than people realize Forbes says that movie theaters always held an exclusive window for film releases so what they do have these agreements where they demand these ninety day or whatever exclusive exclusive rights there's exclusivity they have to be you have a ninety day period on which the movie can be shown in this theater and then you also have this huge chunk of time before it's available like on demand or whether you can go if anything people get DVDs anymore I haven't bought a DVD like felt I don't know how many years it's been so long so universal in twenty eleven they tried to release the film tower heist online when it was still in theaters and Cinemark lost it and they said no we will not put this film if it's released anywhere else and so now filmmakers are having to release movies online and universal said that from now on apparently they're not giving the errors and exclusive period after the lockdown ends that might actually mean Forbes says it's the end for movie theaters because the others were struggling even before at box office mo Jo says Forbes in twenty nineteen said that Americans went to the movies less than any time since the nineteen twenties but here's the thing it's not that you're it's not that you're watching fewer movies you're not going to the movies everyone streaming online I I have said for the past ten years that the way that we are conceptual probably longer than that the way that we are consuming media is changing way back when like even an eighty seventies and eighties if you look back at like old timey newspapers okay this whole time seventies eighties you get right it was more content than it was like imagery and then somewhere in the eighties it started shifting and I remember when I was in J. school I went to college in the late nineties and the early aughts and everything was graphic graphic graphic graphic instead of being so much headline driven everything was very even for print it was very graphically driven and you we were taught look you have like so many seconds to get people's attention you have to have like the strongest lead ever unless people are looking for deep dive you know investigations are editorials etcetera it has to be super quick super so everything even from the nightly news to what you read in magazines to your reader news stories has all been leading up to this point it has been redesigned and repackaged to fit a shorter attention span because there's so much more content out there it is a such an over saturated market so with these theaters now with everybody streaming things at home and not going out to the theaters Forbes isn't the only one there were a couple of different pieces and then there are some who say this is overblown that people like going to the movies but millennials apparently like young millennials like twenty five and younger do not apparently do not like going to movies like they just want to watch everything and they don't care about the experience this is what gets me I'm fascinated by this topic they don't care about the experience like when you when you go to see a movie like what you're saying like you have to have like the darkness of good you know you have to have the screen you have to have a good picture you got yeah the surround sound you have to have the the popcorn and it has to be like theater quality whatever the hell that means and you gonna have your big soda and you have to have all this stuff I cannot say it because I am a fidget and I have a very short attention span but then I get very obsessed with certain things and I will work on them for hours so for me to sit down and watch a movie I have to have all these things in place otherwise I get distracted I can't watch it and I and I was reading a couple of different stories not just for fords but there was some discussion at huffpo and elsewhere Malcolm I note but they were talking about how millennials like the younger millennials twenty five and younger they don't you people don't care about the screen you well I Steve is like right on that cusp C. okay Steve you're we're asking you because you like what twenty four twenty five okay see right at that cost you're likely still considered like a young millennial does it matter to you surround sound and picture quality when you go see a film I I don't I typically watch all movies you know my house but I will only go to theaters if I've been looking forward to it for a while.
Fed Presidents To Speak At Several Events
"New York fed president John Williams will deliver a keynote speech at a financial markets conference in New York Chicago fed president Charlie Evans speaks in Detroit on trade and the auto industry fed governor Michelle Bowman and St Louis fed president Jim board will make welcoming remarks city fed listens event in Saint Louis their speeches calm amid trade tensions between the US and China and as investors debate whether a recession is brewing in the US and world economies Charlie Pellett Bloomberg daybreak
"st louis fed" Discussed on Bloomberg Radio New York
"ETS put in bags of islands along side Tom Kean on the Jonathan ferro from audience worldwide you are listening to Bloomberg radio two hours away from the opening bell in New York the news you need to know at this hour US futures and stocks in Europe rising following another record close the S. and P. five hundred bombs around the world extending gains and of a holiday shortened trading session today and a market will be closed tomorrow in the United States that's why president trump has tapped to more economists to serve on the federal reserve Christopher wala director of research for the St Louis fed and it's Judy Shelton and informal adviser to the White House in the equity markets has the she has about more than seven percent in early trading the electric comic at delivering more than ninety five thousand because the customers in the second quarter that exceeded the previous best mark said at the end of last year shares of cement sector up eighteen percent Bloomberg news has learned the cyber security firm is in advanced talks to be bought by Broadcom and some breaking news in the last couple of minutes the Financial Times reporting that Deutsche Bank could be seen posting a twenty nineteen net loss on restructuring costs in Frankfort that stock is negative by rant about six tenths of one percent a little bit more on that perhaps a little bit later let's get you some more headlines from around the world to say good morning to Michael by thank you very much Jonathan thank you Tom a defense officials as to M. one Abrams tanks and two Bradley fighting vehicles removed into place last night to be on display in DC during president Donald Trump salute to America tomorrow fighters and other aircraft preparing to fly over above the mall as president trump delivers a speech in front of the Lincoln Memorial the aid group doctors without borders says the detention center cell struck by an overnight airstrike in Libya held one hundred twenty six migrants the group's Libya medical coordinator said teams visited the center just hours before the air strike and saw the.
"st louis fed" Discussed on Bloomberg Radio New York
"Breaking news because we have president trump post saying that he's planning to nominate Christopher Waller to the fed's board of governors Mister Waller is currently an official with the St Louis fed bank well in terms of the fed we also had the president of the Cleveland fed bank Loretta master today laying out an argument against a rate cut this month this is one of the things the market has been debating on the other side of that argument was the C. I. O. of pimco telling us earlier today here at Bloomberg the fed is likely to cut rates twenty five basis points at the July meeting time now for the morning call to attend the Derry is here choose a reporter for Bloomberg macros walk so we had at least a record for the S. and P. five hundred stocks did manage to close at a record a record high here dog despite a chopping goes session stocks were going back and forth at the beginning of the day but may in managed to close about three tenths of a percent higher haven assets also so a bit as markets awaited economic data around the July fourth holiday here in the US the ten year yield fell to one point nine seven four percent while gold search back above fourteen hundred dollars an ounce in a fax a slightly weaker dollar and a strong Japanese yen on and that's likely wing on futures there Nikki teachers down forty points right now well Australian contracts are down eleven in economic data had would have China reporting a June anti sheen PMI swell the straw that post its own private private sector survey off factor activity live from the first breaking news desk I'm tots unitaria talk all right to hear live breaking news on the Bloomberg terminal S. Q. U. A. is the function let's get to San Francisco at Baxter is in the Bloomberg nine sixty newsroom with the latest in global news headlines at a hard Douglas said trump administration of.
"st louis fed" Discussed on The Jason Stapleton Program
"Were were positive more than they were negative and hi i'm i'm gonna get back to this in a minute because this goes to a larger question of what is the real problem in in america today what is this now what's the head what is the real monster that eating the nation i'll tell you that in a minute but i am going to shift gears over and talk a little bit about the federal reserve and what they are saying now so you have jim boellard who is the the st louis the head of the st louis fed now for those of you who doesn't know the federal reserve is not one place it's a collection of banks that all have heads of these different institutions and they all have representation at the federal reserve you gotta go read the book by danielle was was a book fed up go read the book fed up of you want to understand that the very weird structure of how the federal reserve works there's all kinds of people who have seat said dedicated seeds and people have seats every three years and they they rotate in and out but the the head of the federal saintlouis federal reserve his name is jim boellard and he said that a logical response to the tumbling market would be to delay the end of qe back in two thousand fourteen so in two thousand fourteen we had the market was was declining rapidly.