17 Burst results for "Treasury Secretary Wally"

"treasury secretary wally" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:51 min | Last month

"treasury secretary wally" Discussed on Bloomberg Radio New York

"This is Bloomberg Wall Street week with David Weston from Bloomberg radio. Ten years of remarkable growth. That's what president Xi Jinping of China focused on in his speech to the party Congress last Saturday. Brought about historical rise. In China's economic strength. In a past decade, China's GDP has grown from 55 trillion to 114 million and come to account for 18.5% of the world economy. Not a bad track record during Xi's time in office, but if prison Xi had been willing to go back to before he was president, the story is even more dramatic. Since Deng Xiaoping initiated the open door policy in 1978, China's economy has gone from under $150 billion to nearly $18 trillion last year. Now that growth is slowing down with possible repercussions for the rest of the world, according to the head of the WTO. If China's economy continues to slow, the way we are seeing that will have a big impact on what happens to the world economy. And U.S. officials like deputy treasury secretary Wally adeyemo say that the open door isn't as open as it used to be. In addition to having resilient supply chains, we want to make sure that American companies are competing on a level playing field with companies in China and around the world and that's why we've taken actions like restraining the ability to ship some key components. But Bridgewater's ray dalio, who's been back and forth to China over the last 30 years, insists that, despite all the problems, he wouldn't bet against Beijing over the long term. I think the longer term picture in China is still bright because I know the people and I know the culture and I think it's good, but they have major issues now. And

China David Weston Bloomberg radio Xi Jinping Deng Xiaoping Wally adeyemo Congress WTO ray dalio treasury U.S. Bridgewater Beijing
"treasury secretary wally" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:02 min | Last month

"treasury secretary wally" Discussed on Bloomberg Radio New York

"This is Bloomberg Wall Street week with David Weston from Bloomberg radio. Ten years of remarkable growth. That's what president Xi Jinping of China focused on in his speech to the party Congress lasts Saturday. Watching Keisha brought about a historical rise. In China's economic strength. In a past decade, China's GDP has grown from 55 trillion to 114 million and come to account for 18.5% of the world economy. Not a bad track record during Xi's time in office, but if president Xi had been willing to go back to before he was president, the story is even more dramatic. Since Deng Xiaoping initiated the open door policy in 1978, China's economy has gone from under $150 billion to nearly $18 trillion last year. Now that growth is slowing down with possible repercussions for the rest of the world, according to the head of the WTO In China, the economy continues to slow the way we are seeing that will have a big impact on what happens to the world economy. And U.S. officials like deputy treasury secretary Wally adeyemo say that the open door isn't as open as it used to be. In addition to having resilient supply chains, we want to make sure that American companies are competing on a level playing field with companies in China and around the world and that's why we've taken actions like restraining the ability to ship some key components. But Bridgewater's ray dalio who's been back and forth to China over the last 30 years insists that despite all the problems he wouldn't bet against Beijing over the long term. I think the longer term picture in China is still bright because I know the people and I know the culture and I think it's good, but they have major issues now. And when it comes to China, the person we turn to here at Wall Street week is Deborah lair. She is the CEO of Edelman global advisory and executive director of the Paulson institute. Deborah, welcome back

China David Weston Bloomberg radio president Xi Xi Jinping Keisha Wally adeyemo Deng Xiaoping Congress ray dalio WTO treasury Bridgewater U.S. Beijing Deborah lair Edelman global
"treasury secretary wally" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:51 min | Last month

"treasury secretary wally" Discussed on Bloomberg Radio New York

"This is Bloomberg Wall Street week with David Weston from Bloomberg radio. Ten years of remarkable growth. That's what president Xi Jinping of China focused on in his speech to the party Congress last Saturday. Brought about the historical rise. In China's economic strength. In a past decade, China's GDP has grown from 55 trillion to 114 million and come to account for 18.5% of the world economy. Not a bad track record during Xi's time in office, but if president Xi had been willing to go back to before he was president, the story is even more dramatic. Since Deng Xiaoping initiated the open door policy in 1978, China's economy has gone from under $150 billion to nearly $18 trillion last year. Now that growth is slowing down with possible repercussions for the rest of the world, according to the head of the WTO. If China's economy continues to slow, the way we are seeing that will have a big impact on what happens to the world economy. And U.S. officials like deputy treasury secretary Wally adeyemo say that the open door isn't as open as it used to be. In addition to having resilient supply chains, we want to make sure that American companies are competing on a level playing field with companies in China and around the world and that's why we've taken actions like restraining the ability to ship some key components. But Bridgewater's ray dalio who's been back and forth to China over the last 30 years insists that, despite all the problems, he wouldn't bet against Beijing over the long term. I think the longer term picture in China is still bright because I know the people and I know the culture and I think it's good, but they have major issues now. And

China David Weston Bloomberg radio president Xi Xi Jinping Deng Xiaoping Wally adeyemo Congress WTO ray dalio treasury U.S. Bridgewater Beijing
"treasury secretary wally" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

03:58 min | Last month

"treasury secretary wally" Discussed on Bloomberg Radio New York

"Bloomberg's Doug Chris and another day of losses equity wise, but ready for you what really characterized things here, because we are in wait and see mode for inflation news. You're absolutely right. Mild loss is the tone was cautious ahead of tomorrow's report on retail inflation. Rich, I know that you are well aware that markets have been on high alert for any clues regarding a shift in fed policy. Now, you were talking a moment ago about minutes from the last fed meeting. They include officials saying it would be appropriate or important to calibrate rate hikes to mitigate risk. Now the notion of calibration seemed to briefly inject some hopium into the equity market. It was fleeting, though, will have a closer look at that momentarily. We had the S&P 500 down for a 6th straight day, the benchmark now at its lowest level since November 2020. Today we were down about three tenths of 1%. The Dow, the NASDAQ comp each lower by just about a tenth of 1%. Today, the report on wholesale inflation so that price is paid to U.S. producers up in September by more than forecast a hot reading on CPI tomorrow could seal the case for a fourth rate hike of 75 basis points. So we had yields across the curve moving a bit lower today, especially at the long end of ten year that was down 5 basis points to three 89. Some of that decline may have been tied to weaker oil prices, WTI off by more than 2% in New York, we were down for a third day. Today, OPEC lowered its demand expectations for this year and next, the dollar little changed but boy, look at the yen much weaker here, one 46 85, I'll take another look at markets in 15 minutes, right? Let's take a closer look at the fed developments now, thanks very much, Doug. Beneficials have stepped up their commitment to raising rates to a restrictive level. However, as Doug mentioned there, they said it's important to calibrate the pace of hikes to mitigate adverse economic risks. As according to the minutes from the fed's September meeting, policymakers emphasized that the cost of taking too little action to bring down inflation likely did outweigh the cost of taking too much action. So that's why we say there's still very stiff on this issue. And ahead of the release, Minneapolis fed president Neil kashkari had warned that the bar for a fed pivot is very high. We have not yet seen much evidence that the underlying inflation of the services inflation, the wage inflation, the labor market, that that is yet softening. And so I think we're quite a ways away from anything like that. So fed officials like everyone else will be eyeing very closely the reading on consumer prices tomorrow. That data will come out at 8 30 a.m. Wall Street time. Right, American supplies are beginning to withdraw stuff from Yangtze memory technologies this week, which all the suppliers include Applied Materials KLA and lamb research yancy is one of China's leading chip companies. It's among the more than 30 organizations that the U.S. commerce department put on its so called unverified list the company may also be impacted by new regulations last week from the Biden administration. Chinese companies are not banned from buying advanced chip making equipment or employing American citizens without a license. Deputy treasury secretary Wally, adema, telling us that The White House is trying to build more resilience in the supply chain. We want to make sure that American companies are competing on a level playing field with companies in China and around the world, and that's why we've taken actions like restraining the ability to ship some key components as well as making historic investments in semiconductors here in the United States. Meantime semiconductor producer ASL at ASML told its employees in the U.S. to refrain from servicing customers in China the firm said it is actively assessing which particular fabs are an affected by new U.S. regulations. Coming up in a few moments we'll be chatting with Carol schleif, deputy CIO at BMO, family office, and that's coming up right after it's time for global news

Doug Chris fed Doug Neil kashkari Bloomberg OPEC Applied Materials KLA lamb research yancy U.S. commerce department United States Biden administration Deputy treasury secretary Wall Minneapolis New York China ASML White House Carol schleif
"treasury secretary wally" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:36 min | Last month

"treasury secretary wally" Discussed on Bloomberg Radio New York

"This is ballots power on Bloomberg television and radio. I'm David Weston, we got those jobs numbers and at least the way I look at it, I'm not sure the equity markets like them very much. So we're going to turn to creating Gupta now to tell us what the reaction has been to these numbers. Yeah, so 263,000 new jobs added in September, the estimate was 255,000. It's only difference about 8000. That isn't to me at least on the surface level going to be a gigantic beat. Nevertheless, it was enough to send the stock market tumbling to the tune of drum roll please. 2.3% declines here in the NASDAQ about 3.3% as well. And the idea here is quite simple. I'm going to use terminology going back to some of the phrasing we used in 2020. Good news is now bad news for the stock market. So the idea here simply being it shows that there is still a lot of job momentum a lot of strength in the labor market that the Federal Reserve is going to have a very hard time kind of putting some slack into and that's something that the stock market is pricing in right now and the bond market might I add A380 five on the ten year yield only have about three basis points. It's been paired a little bit of the spike you saw off the data, but still nothing to scoff at. But the dollar necessarily goes up. It does. It follows the yields picture, but it's kind of come full circle. So now you're looking at a Bloomberg dollar index that's only up about two tenths of 1%, and you would think when you see that kind of volatility in the dollar space, you would have the ripple effects into the commodity market. And right now, it's kind of a split picture because you're having a literal inverse movement to copper into gold, but not into crude, which is where you see the biggest move, Brent crude at a 98 handle, and almost 5% move on the day for nymex crude. Okay, in the meantime, one of the big stories here in the United States are chips. We've been talking about not having enough chips for the longest time. Now maybe we have too many. Yeah, well we were just talking about commodities. That was the macro trade du jour, but so was the chips trade essentially in 2021. If you were worried about inflation, the supply chain crunch, all you had to do was buy a basket of commodities, buy some chip stocks and you were set and even now you can see that in some of the winning hedge fund strategies that's been the strategy they've used. But overnight, David, we've got some not so great numbers coming out of Samsung and operating margin that's dropped by get this 32% Advanced Micro Devices talking about a $1 billion sales miss. The idea here simply being that there is going to be weakness in a market that's very cyclical and also dealing with a lot of geopolitical tensions as the Biden administration looks to restrict the export capacity. It's an important point more in the demand side than the supply side. Well, I think it's a mix of not going to need as many. Microchips. Thank you so much to Gupta. You can catch pretty again at 1 p.m. Eastern Time, which will be anchoring Bloomberg markets. Coming up deputy treasury secretary Wally

David Weston Gupta Bloomberg Federal Reserve Advanced Micro Devices Biden administration United States Samsung David treasury secretary Wally
"treasury secretary wally" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:47 min | Last month

"treasury secretary wally" Discussed on Bloomberg Radio New York

"Actually have a real return to work. Policy and a lot of them are in very small apartments. We built four bedroom apartments that are about 800 ft². So most Brazilians don't want to work out of their apartments. So we're seeing a real return to work. So we're seeing very low vacancy rates. Also, if for office, we're actually going to start a 600,000 ft² spectrum of office building and fara Lima. Industrial is doing quite well. We're seeing about four years behind on the ecommerce side in Brazil, so we're seeing a lot of demand there. Housing has been a little a little mediocre. The affordable stuff's done well, the higher end stuff has been pretty slow. Hospitality has been very tough and now coming back tremendously. So we actually like investments in the hospitality sector. Last fall logistics and we're also focused on development of office in certain markets like the fair labor. Tom, one last fast one here, given what you just said, is there a big difference between Brazil and one hand in the United States in terms of return to office because it looks like some parts of the United States is not coming back to the office. Your experience? Hugely. I mean, Brazil is like 80% back to work. So it's much different than we're starting to see in U.S. or Europe. So it's just, I think, a cultural thing and Brazilians like to be together. And so we are seeing a really big differentiation between Brazil and the United States. That's fascinating. It's always great to have you with us on these housing questions. Thank you so much to Tom Shapiro. He's GTA partners. He's president and CIO of GTI's partners. And coming up here, we're going to go to the Treasury Department for a reaction to today's jobs numbers from deputy treasury secretary Wally adeyemo. This is bounce power on Bloomberg television and on radio. The world like Bloomberg. Far too hot in Birmingham for the government to handle. You foresee two thirds of the crypto hedge fund, world disappear. Are we close? The European Union will support

fara Lima Brazil United States Tom Shapiro Tom Wally adeyemo Europe GTI CIO Treasury Department Bloomberg treasury Birmingham European Union
"treasury secretary wally" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:24 min | 3 months ago

"treasury secretary wally" Discussed on Bloomberg Radio New York

"Create a precedent that the Department of Justice can execute a search warrant against former president when alternative means to accomplish the same result would have been available. That was Texas Republican senator John cornyn warning of the president set by the FBI's raid on Mar-a-Lago. Now on unrelated charges former White House Steve Bannon is expected to face criminal charges in New York for allegedly misusing campaign finance. Russia wants to buy millions of rockets and artillery shells from North Korea to use in its war against Ukraine. U.S. officials say it's a sign that western sanctions on its military and financial system are starting to bite. Deputy treasury secretary Wally adeyemo says Russia's economy faces years of hardship as a result of the measures taken by the U.S. and its allies over president Vladimir Putin's invasion of Ukraine. Here's what he told Bloomberg television's balance of power with David Westin. The Russia's economy is in a great deal of pain because the sanctions that we've implemented with 30 other countries. And the pain is going to continue for years to come. And it's going to hit Russia's revenues. And it's going to decrease those revenues over time. That was U.S. deputy treasury secretary Wally adeno speaking to Bloomberg. Okay, those are some of our top stories for you this morning. Let's return to the energy crisis though. The European situation has really taken a turn for the worse this week after Russia cut off north stream gas supplies, although prices this morning are starting to cool, and that's possibly because European households will benefit from at least €375 billion in government aid. European countries also talking about support for power providers and energy traders amid growing margin cause all of this ahead of that crucial EU, energy ministers meeting to discuss emergency measures on Friday. Joining us now is Bloomberg's energy reporter Stephen stepinski, great to have you with us Stephen. What are European countries now trying to do to safeguard the energy markets themselves credit lines collateral liquidity that's becoming a problem? Absolutely. I mean, they're looking at giving companies much more money, sort of bailouts and a lot of ways because they're really struggling to stay afloat in Germany has bailed out uniform or they're they could be able to vote for a third time beyond that you're looking at a lot of different companies asking for support from the government. And that's coming across the board. I mean, I think another thing to look at is what are the policy measures they're trying to implement. Germany wants a power price cap within weeks, Poland is taking to limit prices on all natural gas imports and Spain says that they need to do more to provide adequate financing for their utilities. A liquidity has been the main thing because with these margin calls so high in the futures market, a lot of companies just can't trade. It's just too expensive plus they're on the wrong side of some trade so they move some money as well. So they need to support to provide some more trading back to the market and get that core curve more liquid and that could potentially break things down. How are you seeing natural gas prices react and amid this huge volatility? You know, we are in this downward trend that seems. I mean, when you look at the risk factors, the biggest risk was always Nord stream would be shut off. And now it's shut off. So what leverage does Russia have left to kind of put pain on Europe? And there are a few, but they're leverage has been falling. So because of that, perhaps the market thinks that there really isn't any outside risk until the winter. And the winter's risk is it going to be cold. If it's cold and inventories are not adequate levels or they start to be depleted rather quickly, then where in a situation where we could see natural gas near surge again to record high levels. Okay, we've had some commentary out from Vladimir Putin this morning. At an eastern economic forum in Vladivostok, the line, give us turbines and will turn on Nord stream tomorrow, but they won't give us anything. Is this bluster that this has not been given much credibility in the past by the EU? What do you make of Putin's comments today? You know, I think it's a difficult situation. It's sort of, he said, he said, and then he said sort of thing, where you ever been officials from Germany and the UK are saying one thing, whereas Putin is saying another. Now we've done some reporting at Bloomberg that says that Russia is using this as an excuse. To provide an opportunity for them to put some pain on the European Union because of their support for Ukraine. Now, of course, you have to look at the situation. There are sanctions against Russia and it does make perhaps exporting or providing delivery of these equipment more difficult, but it does look like Germany and females, all these other companies involved are trying to do as much as they can to get this basically resolved and it appears to be more on Russia's side, it would play into them because if they wanted to declare a force majeure, where they have liability for not delivering, this is one opportunity to do that. If it was the fault of someone else not their own, that provides them with that cover. And of course, Siemens seem as energy, I should say, is on the record as saying that the findings of Gazprom to do with these turbines are wouldn't be a reason to stop gas flows. COVID provide any sort of template for Europe in terms of dealing with these external shots, just very shortly, very quickly. Yeah, I mean, they have worked together in the past on virus measures and things like that. And you have seen in Europe, them coming together to face this big existential threat. But when it comes to commodity energy and fuel, people tend to turn very insular and they want to protect what they have. And they might not be as willing to share. We've seen that before with other commodities over the last year in different countries. But perhaps it might not be the lesson that they need. Okay, Steven, thank you so much for being with us, Bloomberg's energy reporter Stephen statue, coming up in the next part of Bloomberg daybreak, Europe. Global macroeconomist at fidelity international Anastasia will be with us. This is Bloomberg.

Russia senator John cornyn Steve Bannon Deputy treasury secretary Wall David Westin Ukraine treasury secretary Wally adeno Bloomberg U.S. Stephen stepinski Vladimir Putin Germany Bloomberg television Department of Justice North Korea FBI EU White House Putin
"treasury secretary wally" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

05:20 min | 3 months ago

"treasury secretary wally" Discussed on Bloomberg Radio New York

"Is create a precedent that the Department of Justice can execute a search warrant against former president when alternative means to accomplish the same result would have been available. Texas Republican senator John cornyn warning of the precedent sash by the FBI's raid on Mar-a-Lago on an unrelated matter, a former White House just Steve Bannon is set to face criminal charges in New York for allegedly misusing campaign finance. Over to Russia and Russia wants to buy millions of rockets and artillery shells from North Korea to use in its war against Ukraine. U.S. officials say it's a sign that western sanctions on its military and financial system are starting to bite, deputy treasury secretary Wally adeyemo says Russia's economy faces years of hardship as a result of the measures taken by the U.S. and its allies over president of Vladimir Putin's invasion of Ukraine. Here's what he told Bloomberg television's balance of power with David Weston. The Russia's economy is in a great deal of pain because of the sanctions that we've implemented with 30 other countries. And the pain is going to continue for years to come and it's going to hit Russia's revenues and it's going to decrease those revenues over time. That was the U.S. deputy treasury secretary Wally adeyemo speaking to Bloomberg there. Well, those are our top stories. Let's take a look now at some of the events that we're looking forward to later in the day Bloomberg's James Wilcox back with us in studio starting lots of action today in Westminster James. Yes, Stephen, at least trust meets that newly appointed cabinets like we set thrice. This morning and we'll face her first PMQs later. That cabinet is set to start meeting at 8 30 a.m., so they all should be doing it as we speak, and it's customary for the first prime minister to release footage of the speech that her remarks to her new cabinet. So we may get some footage of the early on this morning. Now, prime minister's questions won't be the only grilling happening Westminster today. The Bank of England governor Andrew Bailey faces the treasury select committee along with some of his monetary policy committee, including who pell, the chief economist at 10 a.m., they'll be asking about his most recent rate decision, as well as his outlook for the labor market in international trade, the impact of gas and energy prices and potentially threats to the Bank of England's independence after the conservative leisure race. And not just in the UK their events around the world were watching too. Obviously, we've got the fed happening with barkin speaking at 2 p.m. method three brainard at 5 40 p.m. and then the beige book at 7. Okay, James wilcock, thank you very much for that look ahead to the events we're watching out for later today. Okay, let us turn to things we already know about, and that is the London rush. We carve out some time to highlight UK businesses making announcements in London and joining us now is our breaking news reporter irina angel, who has a rundown forest irina good morning to you. Let's start with what I was going to say U.S. banks, which seems strange for the London rush, but actually it's about UK property, isn't it? Indeed, good morning. And we're starting with Goldman Sachs, and the bank is actually coming to Birmingham. So Goldman is preparing to sign a ten year lease on office space for up to 800 staff there. And the photo someone like Goldman is going to Birmingham really shows that Wall Street firms are expanding beyond London and the wake of the pandemic. And I'm curious to see who's next. We can expect Goldman to sign in the coming two weeks. And there are aiming to move into the customized space in early 2024. I'm wondering if this is a portent for the Eurovision host city selection process, does the Eurovision follow Goldman Sachs? Who comes down to Eurovision? Look, it's my daily challenge, I was trying to slip a mention of the Eurovision into every conversation possible. Arena, you've also been looking at the latest data on UK house prices. That's right. UK house prices rebounded in August, led by the strongest growth in London in 6 years. And that's according to Halifax, one of the nation's biggest mortgage lenders. Halifax said that measure of property prices rose 0.4% last month. And that's after a dip in the month before. This means a new home now will cost you an average of almost 300,000 pounds in the UK and that's a new record. Okay, so that's the house price story. Linked to that, Barrett's developments, a home builder, what's the news flow? Well, they reported revenue for the full year and they met analyst expectations. And Barrett Warren actually that they're facing higher taxation and that's in addition to ongoing challenges around build cost inflation and they will withdraw all of the help to buy scheme. It's really interesting to see actually these developments on the UK housing market is we're expecting of course rising interest rates to have such a negative impact on them, but at prices continuing to rise in that. I mean, that record figure 294,000 pounds is a frightening, frankly, for anyone who's trying to buy a house. You've also been looking at a latest news from doubly hate Smith. Indeed, the bookstore chain, they said that the high street business was performing in line with expectations. And W Smith has identified further cost saving opportunities. They're saying that actually lower rent, so they're forecasting lower rents That will help them cut costs and save money in the future. So that's some good news, I guess. Yes, I mean, yes, if you can't buy a house by affordable treats. Oh God, this is like the avocado toast conversation I love again. I

Russia Steve Bannon Goldman deputy treasury secretary Wall David Weston U.S. Wally adeyemo James Wilcox Westminster James Ukraine UK Bloomberg Bank of England London John cornyn James wilcock Bloomberg television cabinet Lago irina angel
"treasury secretary wally" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:15 min | 3 months ago

"treasury secretary wally" Discussed on Bloomberg Radio New York

"Available. That's Texas senator John cornyn warning of the precedent sat by the FBI's raid on Mar-a-Lago on unrelated charges, the former White House Steve Bannon is set to face criminal charges in New York for allegedly misusing campaign finance. Russia wants to buy millions of rockets and artillery shells from North Korea to use in its war against Ukraine, U.S. officials say that it's a sign that western sanctions on its military and financial system are starting to bite. Deputy treasury secretary Wally adeyemo says that Russia's economy faces years of hardship as a result of the measures taken by the United States and its allies over present Vladimir Putin's invasion of Ukraine. Here's what he told Bloomberg television's balance of power with David Westin. The Russia's economy is in a great deal of pain because of the sanctions that we've been implemented with 30 other countries. And the pain is going to continue for years to come. And it's going to hit Russia's revenues and it's going to decrease those revenues over time. U.S. debt. She treasury secretary Wally adeyemo speaking to Bloomberg. Okay, those are our top stories. Let's get to some of the events that we're watching out for later today with James Wilcox back in studio with us. James, what have you picked out, first of all, what's going on in the UK? So here in the UK, we've got Liz trust meeting with her cabinet this morning. There's actually already arriving now down in street. It's normally customary for the p.m. to give remarks them on tapes. We may get some video of that coming later today, and she'll face her first prime minister's questions at midday today. That's not the only grilling happening here in Westminster. Bank of England governor Andrew Bailey is in front of the treasury select committee at 10 a.m. for a talk on the previous interest rate move. Now, a conversation about the economic outlook has set to be happening as well as the banking's mandate after the campaign the conservative leadership campaign this summer. Okay, so that's for the UK. What about things happening around the world? Well, we've got some interesting economic data Caroline. I think John Jefferson it should already be out if I'm not mistaken. Contraction of minus three is 0.3%. That's less than half unexpected actually. Thank you very much. You've been and as well as that in the afternoon we'll be getting U.S. speakers fed bark. It feds bark in a 2 p.m. method three and brain out at 5 40, as well as the beige book at 7 p.m.. Okay, James Wilcox, thank you for that. This is Bloomberg

Russia Steve Bannon Deputy treasury secretary Wall David Westin Ukraine U.S. John cornyn Wally adeyemo James Wilcox Lago Bloomberg television Vladimir Putin FBI North Korea White House UK Texas New York Bloomberg treasury
"treasury secretary wally" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:38 min | 3 months ago

"treasury secretary wally" Discussed on Bloomberg Radio New York

"Is create a precedent that the Department of Justice can execute a search warrant against former president when alternative means to accomplish the same result would have been available. That was Texas Republican senator John cornyn, warning of the precedent set by the FBI's raid on Mar-a-Lago. On unrelated charges former White House Steve Bannon is set to face criminal charges in New York for allegedly misusing campaign finance. Russia wants to buy millions of rockets and artillery shells from North Korea to use in its war against Ukraine. U.S. officials say it's a sign that western sanctions on its military and financial system are starting to bite, deputy treasury secretary Wally says that Russia's economy faces years of hardship as a result of the measures taken by the U.S. and its allies over present Vladimir Putin's invasion of Ukraine. Here's what he told Bloomberg television's balance of power with David Westin. The Russia's economy is in a great deal of pain because the sanctions that we've implemented with 30 other countries. And the pain is going to continue for years to come. And it's going to hit Russia's revenues and it's going to decrease those revenues over time. That's U.S. deputy treasury secretary walia jimo speaking to Bloomberg there. Okay, so those are a few of our top stories. Now, let's look ahead to the rest of the day and this week in both James Walcott is here, good morning. Good morning. It's a big day in Westminster Caroline. This trust is meeting her cabin at this morning and will face her first premises questions at mid day to day, but she isn't the only person getting a grilling in parliament. Andrew Bailey and a few others of the NPC note of the chief economist Hugh pell will be in front of the treasury select committee at 10 a.m. they're likely to be discussing the labor market and the select me said they'll also be asking about the prospect of threats to the independence of the Bank of England. So well worth tuning into that. One person will be talking to the city about on our show is city UK CEO Martha, at 8 20. In terms of eco data outside of the UK, Germany industrial production figures are out at 7 a.m. their estimated .6% down from the prior of .4 for the previous month in June and in the fed, it's a big day in the art UK afternoon for the first week as barking at 2 p.m. master at three on at 5 40 before the beige book is out at 7 o'clock. Okay, very interesting, James. Thank you so much. Yeah, I think it's going to be fascinating PMQs to see those personalities, Keir Starmer versus Liz truss. And yes, the treasury select committee. And Marcellus of the city UK, I mean, our financial service is going to be a bigger priority for Liz truss or not. I think that's a really important question. So tune into that 8 20 a.m.. So just about a couple of hours time. This is Bloomberg

Russia senator John cornyn Steve Bannon treasury secretary Wally David Westin Ukraine U.S. treasury secretary walia jimo James Walcott Westminster Caroline Department of Justice Bloomberg television Hugh pell Vladimir Putin FBI North Korea White House treasury select committee Andrew Bailey Texas
"treasury secretary wally" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

08:16 min | 9 months ago

"treasury secretary wally" Discussed on Bloomberg Radio New York

"Week and the latest debate is whether there should be a ban on Russian oil so far The White House has been leery of such a ban deputy treasury secretary Wally erimo spoke earlier today on Bloomberg surveillance about the need to ensure that Americans have a steady oil supply We're focused on making sure that the energy markets are well supplied today because we want to make sure costs are reduced for American people today And we're depriving president Putin of the resources he needs to fight the war today Over time we need to do more to make sure that the energy market is well supply And we're also focused on that as well Concerns about Russia and Ukraine concerns about gas prices Well here to discuss the mood On Capitol Hill among Democrats in Congress is congresswoman Deborah Ross a Democrat from North Carolina Congresswoman thank you so much for joining us today Yesterday House speaker Nancy Pelosi was asked whether there should be a ban on U.S. imports of Russia crude oil She did not mince words she said I'm all for it ban it Congresswoman Ross is this sentiment shared widely within Democrats on the hill Well first of all I'm thrilled to be with you This is my first time on this show and it's so exciting We're glad I think thank you I think the Democrats on the hill want to make sure that we minimize the impact of the Ukrainian war on our supplies of oil and Democrats want to find different sources of oil for our needs and for our allies needs including in the Middle East And I know that the Biden administration has worked hard on that Of course because the Iran nuclear deal was scuttled being able to access that oil from Iran has gone away But we need to be able to satisfy and deal with our needs and reduce our needs in our policies And so that all those combinations will make sure that we don't have to rely on Russia for oil And congresswoman I do want to just take a minute a red headlines now crossing the terminal Bloomberg is going to temporarily halt the work of its journalists in Russia I know that Bloomberg is certainly not the only news organization to sort of be rethinking its coverage in the region right now But congresswoman I know before you came to Congress you did some work with renewable energy Are you worried that a push to ban Russian oil could lead to more production of non renewables I think that might be a short term consequence but I actually think that this whole situation with oil prices spiking shows the need for us to get more renewable energy that is dependable as soon as possible The key is to be energy independent And the less we rely on fossil fuels the better And I'm proud that the Biden administration is pushing this Democrats in Congress are pushing this Many of the things that Democrats have done over the years to reduce our dependence on fossil fuels are things that are making our current situation better like fuel economy standards like electric vehicles all of these things lead to energy independence and are very good for the country and the rest of the world So congresswoman the way senator Joe Manchin recently put it when he spoke in favor of cutting off Russian oil to the U.S. was that he'd be okay paying something like ten cents a gallon more for gas According to the EIA we get about 3% of our imports of oil from Russia That doesn't sound like a very big number It does seem The White House wants to wants to limit the effect on American gas prices What do you actually think these kinds of limitations would do to American gas prices Would it be noticeable Well I'm not an expert on gas pricing but it is supply and demand And again there are lots of places we can get this supply and we need to reduce our demand by having alternative ways of powering our cars And heating our homes And so the combination of looking for other sources working with our allies and reducing our demand should reduce the price Congresswoman I also want to talk for a minute about the jobs report we got today an increase of 678,000 jobs in February better than what the experts expected This currently seems to show that we're coming a bit out of the pandemic But at the same time we saw the unemployment rate for black women increase I'm just wondering what your takeaway is here and what your thoughts are on what Congress needs to do if anything Well number one what has happened since the Biden administration has taken office in terms of jobs and the economy has been wonderful And the growth has been incredible But that growth does not affect everybody And in particular people who are still struggling during the pandemic with issues like child care and of course the child tax credit which lifted so many children out of poverty has expired We've got to get it back We've got to make it permanent Schools not realistic chance of that happening if I can just cut in for a second here I mean I know that we've talked about the child So it's serious I think that there is a chance of that happening I think it's widely popular it affects working families It again it has lifted children out of poverty It has given families a sense of financial security I heard from people in my district as a matter of fact I gave a floor speech about it For a working mom where she said it made all the difference between being able to pay for child care and being able to pay for school supplies So there are impediments to all women getting back to work but in particular single parents and we need to make sure of course we need them in these jobs because there are so many job openings that what we do is enact family friendly policies that make sure kids are taking care of and make sure parents can get back to work in these jobs that are open So congresswoman aside from the exact details of what would be in this sort of BBB redux Bill I'm curious about the top line because senator Manchin is saying he'd be comfortable with If you get about 1.7 trillion in revenue from tax measures maybe you use half of that to reduce the deficit and the other half for things you like Are you comfortable with a bill that's sort of 50% focused on just cutting the deficit and only half of that revenue goes to whether parts of the CTC or climate or whatever What do you think about that broader idea Well the build back better original plan mostly paid for itself largely paid for itself And so what we need to do is make sure that we do things that stimulate our economy so that we have money and we've seen that in state governments We've seen that even in the federal budget that if our economy is humming then our deficit goes down And so we need to make sure that we have the proper balance I think we need to invest in our people first and foremost We saw historic tax cuts that only went to the richest Americans and contributed to that budget deficit And what we need to do now is invest in our people Well speaking of funding we have the bill that funds the government that needs to be passed by March 11th to avoid a government shutdown And I know something a little bit unique this year compared to the last previous several years is that you have earmarks in there specific amounts of.

Deborah Ross Nancy Pelosi March 11th Ross 50% February first time 678,000 jobs Wally erimo Democrats Democrat North Carolina Joe Manchin Middle East Manchin Russian Congress Capitol Hill today about 3%
"treasury secretary wally" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:57 min | 9 months ago

"treasury secretary wally" Discussed on Bloomberg Radio New York

"An upward revision to last month's jobs data as well So again folks kind of getting back into this labor economy All right right now let's head down to Washington D.C. or 99 one studios get world in national news with Nathan Hager All right thanks Paul the world is reacting in shock to Russia's attack overnight on Europe's largest nuclear plant in southeastern Ukraine NATO secretary general Jan Stoltenberg is warning of more death and destruction in the days to come war is dangerous And to have military operations conflict fighting going around the nuclear power plant adds to the danger And this just makes it even more important that president Putin and his war NATO's Jan Stoltenberg in Brussels deputy treasury secretary Wally adeyemo says sanctions will go up as Russia escalates the war He says existing penalties are already crippling the Russian economy Because of the sanctions we've put on inflation is likely north of 20% Russian markets have been shut down for days and just earlier they announced they're going to shut them down for more days which is the longest shutdown they've had since at least 1998 when they defaulted on their debt As for Russia's energy sector secretary game hotels Bloomberg surveillance immediate sanctions there would raise oil and gas prices even further and go into Vladimir Putin's pocket The Biden administration is looking at ways to punish Russia through the World Trade Organization Deputy U.S. trade representative Jamie white tells Bloomberg They're working with Congress on legislative actions The European Union has said it's looking to revoke Russia's most favored nation status at WTO A powerful bomb blast stripped through a Shiite mosque in Peshawar Pakistan today police say at least 56 Friday worshippers were killed dozens more wounded The death penalty is back in effect for Boston Marathon bomber joke art Tsarnaev the Supreme Court ruled he was not deprived of a fair trial when the judge withheld evidence of a prior crime and limited questioning to jurors about pretrial coverage Global news 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists.

Jan Stoltenberg Washington D.C. Russia Nathan Hager deputy treasury secretary Wall NATO president Putin Biden administration Ukraine representative Jamie Brussels WTO Paul Europe Bloomberg European Union Peshawar Congress
"treasury secretary wally" Discussed on WNYC 93.9 FM

WNYC 93.9 FM

02:59 min | 10 months ago

"treasury secretary wally" Discussed on WNYC 93.9 FM

"A filing extension the IRS had a backlog of tens of millions of returns So what happens this time A Martinez has deputy treasury secretary Wally a demon what to expect It is going to be unfortunately a frustrating tax season What that means for taxpayers is that they need to make sure that they follow online that they take steps to make sure that their returns are prepared because unfortunately due to the pandemic and chronic underfunding of the IRS the IRS has fewer people to answer their phone calls and to deal with taxpayer issues over the last ten years funding of the IRS has decreased dramatically President Biden of course recognizes when he came into office And that's why that for a budget increase for the IRS But until that's passed we're going to have to deal with a frustrating path fun season which is why we're asking the American people to father taxes online and to make sure they have all their paperwork together I know the IRS closed last filing season with 35 million unprocessed returns how likely are we to see a repeat of that kind of backlog So as you know last year there has had a difficult filing season What they've done since that has taken a number of steps to reduce the backlog and they've taken steps this year to try and make sure we don't create a backlog For example Americans who receive stimulus checks from the IRS or child tax version the IRS received letters that have information about the numbers that you put into their tax returns so that their tax returns aren't rejected and they'll make sure that they get a refund What we expect is that if you file your taxes online and the information is correct within 21 days you should get your refund back your taxes should be done which would help us reduce the number of backlogs for the IRS and the inventory that they have going forward So it sounds like going online is key here but as you know deputy secretary that's not an option necessarily available to all Americans So are we looking at a situation where even if even if the funding that the Treasury Department is asking for gets approved is there enough time to catch up in order to prevent another massive delay So I want to be clear that the funding that we're asking for will likely not have an impact on this violence season The things we're doing for this violence season is encouraging people to fall in line But as you've said not everybody has access to file online We're encouraging them then to go to fight a centers which are locally located places for them communities that will allow people to help file But it's important for us to step back and realize that we're in a place where they have as many employees at the IRS today if they had 1970s And they also have a technology infrastructure that was based in the 1960s and 1970s Answering the phone that you mentioned that because it's been an issue last year tens of millions of calls to the IRS for help went unanswered People just simply could not get through and speak to someone anyone for help So what's been done specifically to address that for this year We're going to have more people on the phones this year but I don't want to make it sound as if that's not going to.

IRS treasury secretary Wally President Biden Martinez Treasury Department
"treasury secretary wally" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:40 min | 1 year ago

"treasury secretary wally" Discussed on Bloomberg Radio New York

"Stock index future is treading water this morning NASDAQ futures though they're falling It is currently 6 O one on Wall Street and we check the markets every 15 minutes throughout the trading day on Bloomberg Right now NASDAQ futures are down about 28 points S&P and Dow futures are pretty much little changed The Dax in Germany is up half The ten year treasury up on 32nd yield 1.55% They yield on the two year .47% Nymex screwed oil is down a tenth of a percent or ten cents at $83 95 cents a barrel Nathan Karen we begin in Washington That's where House speaker Nancy Pelosi plans to vote this week on President Biden's economic agenda But she's getting pushback from West Virginia democratic senator Joe Manchin He wants a detailed analysis on the plan's cost and economic impact I will not support the reconciliation legislation without knowing how the bill will impact our debt and our economy in our country We won't know that until we work through the text Senator Manchin is one of two key holdouts needed to secure the deal but deputy treasury secretary Wally is pushing back The president's framework does satisfy sender mansion and understand that he wants to read the legislation that is written based on that framework When you look at the framework it includes fully paying for the legislation using tax increases on the wealthy and on corporations deputy treasury secretary while the Audi amo made the comments in an interview with Bloomberg's David West End adios says the president's plan will not add to the nation's debt While Democrats debate here at home Nathan President Biden is at the cop 26 summit in Glasgow He's announcing plans for an assault on methane today with initiatives across the globe to keep the gas from escaping landfills oil wells and.

Nathan Karen House speaker Nancy Pelosi President Biden senator Joe Manchin Senator Manchin treasury secretary Wally Germany West Virginia Washington David West End adios amo Nathan President Biden treasury Audi Bloomberg
"treasury secretary wally" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:54 min | 1 year ago

"treasury secretary wally" Discussed on Bloomberg Radio New York

"I'm Karen Moscow and U.S. stock index futures are lower this morning We're coming up to 5 O one on Wall Street and we check the markets every 15 minutes throughout the trading day on Bloomberg S&P futures down a 6 point down futures down 41 and NASDAQ futures down 33 The decks in Germany is a four tenths of upper set Ten year treasury up one 32nd the yield 1.55% the yield on the two year .47% Nymex screwed oil is a little changed at four cents at 84.9 cents a barrel Comics gold as little change at 1795.7 cents an ounce The Euro this morning at 1.1588 against the dollar British bound 1.3630 and they ended one 13.51 Nathan Karen we begin in Washington where House speaker Nancy Pelosi plans to vote this week on President Biden's economic agenda But she's getting pushed back from West Virginia democratic senator Joe Manchin He wants a detailed analysis on the plan's cost and economic impact I will not support the reconciliation legislation without knowing how the bill will impact our debt in our economy in our country We won't know that until we work through the text Senator Manchin is one of two key holdouts needed to secure the deal but deputy treasury secretary Wally is pushing back The president's framework does satisfy senator mansion I understand that he wants to read the legislation that is written based on that framework When you look at the framework it includes fully paying for the legislation using tax increases on the wealthy and on corporations deputy treasury secretary Wally adima made the comments in an interview with Bloomberg David west and says the president's plan will not add to the nation's debt But while Democrats debate here at home Nathan President Biden is at the cop 26 summit in Glasgow He's announcing plans for an assault on methane today with initiatives across the globe to keep the gas from escaping landfills oil wells and.

Karen Moscow Nathan Karen President Biden senator Joe Manchin Senator Manchin Bloomberg treasury secretary Wally Nancy Pelosi Germany U.S. West Virginia Wally adima Washington Bloomberg David west Nathan President Biden
"treasury secretary wally" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

04:04 min | 1 year ago

"treasury secretary wally" Discussed on Bloomberg Radio New York

"Ball time Thank you very much The U.S. will open its borders to vaccinated foreign travelers on November 8th That's according to a White House official the move will expand travel options for those who have gotten their shots and clamped down on those who have not We're learning former president Bill Clinton is hospitalized in the ICU from a blood infection Clinton was admitted to the UC Irvine medical center Tuesday for sepsis according to a spokesperson but is reportedly doing well and is expected to be released from the hospital soon Doctor emran Ali a physician fellow at Mount Sinai health says that the case was likely called early and did not progress to any serious dangers for the former commander in chief And what I'm hearing from my sources in all he needed was some IV fluids to help with his blood pressure but his blood pressure was not dangerously low to be of any serious concern Doctor Ali spoke to ABC All eyes are on the FDA and CDC as discussion on Moderna's COVID-19 booster continues The FDA approved boosters for people who got the Moderna vaccine including for people over the age of 65 and adults at high risk however the CDC has to weigh in and have the final say President Biden signed legislation raising the debt ceiling but the measure only pays the federal government's bills into December which means we'll be seeing the back and forth among lawmakers in a few months If Congress does not raise the debt ceiling again in time the government could go into default Deputy treasury secretary Wally Al said Congress is obliged to make sure the spending lawmakers agree to get paid for It would be a catastrophe for the American economy and it's something that we expect Congress to increase as they've done on a bipartisan basis time and time again over the last several years and decades Deputy treasury secretary Wally adios spoke to ABC News prime Live from the Bloomberg interactive brokerage studios this is global news 24 hours a day on air and no one Bloomberg quick take Powered by more than 2700 journalists and analysts to more than a 120 countries This is Bloomberg Tom Paul You know Michael I'm rampant it up for my full team coverage Red Sox Houston And I'm reading articles like getting to know the Houston roster Did they all come from Detroit Yes they did They left Detroit and then they went to Houston But by the way I want to say this good This is especially for you Sam Kennedy president and CEO of the Red Sox That's our guest on famous Over Fantastic sports Yeah I can't say enough about what he's done layering the rest of them and folks the most amazing thing for those of you worldwide And Michael I had the talk to Sam about this And the woman that I forget her name right now who did Camden yards and that was easy because she had to go in and rebuild Fenway while they were still standing still playing and the rest of it and architecturally engineering like it's been way underestimated True that I agree with you 10,000% Yeah Tonight at 7 We'll watch that The Detroit I mean the Houston has played against the Boston Red Sox is what I love busted Michael's job Particularly a weekend when the Lions lose again This is Bloomberg from New York Washington good morning Detroit This is a blue Hi my name is Joe And I'm a home decor over spender I made a breakthrough I found home since It's unreal So many brand names sofas I bought one It's okay The prices so low Lighting unexpected Rugs handcrafted Wall art eclectic I go back like every week No it's always different New unique decor Same great savings Every time you go Home sense Stand out pieces outstanding prices.

UC Irvine medical center emran Ali Mount Sinai health President Biden CDC Deputy treasury secretary Wall Congress FDA Deputy treasury secretary Wall sepsis Bloomberg interactive brokerag Moderna ICU Bill Clinton Tom Paul Boston Red Sox Detroit Houston roster White House Sam Kennedy
"treasury secretary wally" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:14 min | 1 year ago

"treasury secretary wally" Discussed on Bloomberg Radio New York

"We're learning former president Bill Clinton is hospitalized in the ICU from a blood infection Clinton was admitted to the UC Irvine medical center Tuesday for sepsis according to a spokesperson but is reportedly doing well and is expected to be released from the hospital soon Doctor Imran Ali a physician fellow at Mount Sinai health says that the case was likely called early and did not progress to any serious dangers for the former commander in chief And what I'm hearing from my sources of all he needed was some IV fluids to help with his blood pressure but his blood pressure was not dangerously low to be of any serious concern Doctor Ali spoke to ABC All eyes are on the FDA and CDC as discussion on Moderna's COVID-19 booster continues The FDA approved boosters for people who got the Moderna vaccine including for people over the age of 65 and adults at high risk the third shot would come at least 6 months after the second dose but it's only half the amount of the original doses The CDC has to weigh in and have the final say President Biden signed legislation raising the debt ceiling but the measure only pays the federal government's bills into December which means we'll be seeing the back and forth among lawmakers in a few months If Congress does not raise the debt ceiling again in time the government could go into default Deputy treasury secretary Wally adima said Congress is obliged to make sure the spending lawmakers agree to gets paid for It would be a catastrophe for the American economy It's something that we expect Congress to increase as they've done on a bipartisan basis time and time again over the last several years and decades Deputy treasury secretary Wally adios spoke on ABC News prime The select committee investigating the January 6th attack on the U.S. capitol will make a decision next week to hold one of former president Trump's advisers in contempt of Congress Steve Bannon could face possible jail time if he is convicted Live from the Bloomberg interactive brokers studios This is global news 24 hours a day on air and on Bloomberg quick take Powered by.

UC Irvine medical center Imran Ali Mount Sinai health CDC FDA President Biden sepsis ICU Bill Clinton Moderna Congress Deputy treasury secretary Wall Clinton Ali ABC Deputy treasury secretary Wall federal government ABC News Steve Bannon Trump