35 Burst results for "Us Treasury"
National debt surpasses $31 trillion
"The new fiscal year with record debt the nation's gross national debt has surpassed 31 trillion according to a newly released US Treasury report The debt is edging closer to the statutory selling of roughly 31.4 trillion President Joe Biden has touted his administration's deficit reduction efforts this year and has recently signed the so called inflation reduction act which attempts to tame 40 year high price increases caused by a variety of economic factors Economists say the latest debt numbers are a cause for concern The congressional budget office earlier this year released a report on America's debt load warning in its 30 year outlook that if unaddressed the debt will soon spiral upward to new highs that ultimately could imperil the U.S. economy
UK scraps tax cut for wealthy that sparked market turmoil
"The British government has dropped plans to cut income tax for top earners Part of a package of unfunded cuts that sparked turmoil on financial markets and sent the pound to record lows In a dramatic about face treasury chief Cornish says he will abandon plans to scrap the top 45% rate of income tax paid on earnings above $167,000 a year in a statement he explains we get it and we've listened It's clear that the abolition of the 45 P tax rate has been a distraction from our overriding mission to tackle the challenges facing the country the U turn came after a growing number of lawmakers from the governing Conservative Party turned on government tax plans announced ten days ago Charles De
"us treasury" Discussed on Bloomberg Radio New York
"Will follow up on that story. Equity futures say point to a, it's called a little bit of a mixed open this morning S&P at the higher NASDAQ lower yields come in the ten year US Treasury yielding 3.86% on the commodities front, WTI crude oil is higher just over $80 a barrel gold. Let's call it $1645 an ounce it's up a little bit Bitcoin unchanged right here just over $19,000 per token before we really get started. We want to get the latest on hurricane Ian bearing down on Florida that is the news of the day. Let's check on the rob Caroline Bloomberg meteorologist. Rob, give us the latest on the track of hurricane Ian and kind of some timing we should be aware of. Certainly Paul, the storm right now, the eye is just due west of Naples Florida. It's about 60 miles west of Naples, the eye wall is just to the southwest of sanibel and captiva island, Florida. It looks like it's going to make landfall very close to punta gorda. It's very close to the track of hurricane Charlie back in 2004. This is a very dangerous hurricane that went through some very rapid intensification earlier this morning of the maximum sustained winds now a 155 miles an hour so it needs its gusting probably over a 175 miles an hour. I'm seeing Gus right now in Port Charlotte over 50 miles an hour Fort Myers recently had a gust over 60 miles an hour. Venice Florida reporting dust to 50 miles an hour, it's going to go inland right there in southwestern Florida just north of Fort Myers in south of Sarasota later this morning. The damage is going to be pretty severe the hurricane force winds extend about 40 miles out from the center of circulation, so imagine an EF four tornado of 80 miles wide. It is just going to buzz cut that portion of Florida. Storm surge is likely going to be in excess of 14 feet around Port Charlotte. We're going to be talking about isolated tornadoes from Naples on up toward Sarasota and Tampa. The Tampa area hasn't been hit directly by a hurricane in over a hundred years that looks like they're going to miss a direct hit with this one. Paul then tracks up into Central Florida and on up towards the Orlando area later tonight, it'll be weakening, but even as far inland as Orlando, they are probably going to see winds in excess of 75 miles an hour from Ian, so there's going to be a big swath of destruction from north of Fort Myers into Central Florida by Friday it's moving up towards the Jacksonville area and then Saturday it's into Georgia and the Carolinas. Rain out ahead of the system on the order of 8 to 16 inches so there's going to be a lot of fresh water flooding over central and northern Florida with this storm over the next several days. Rob something I heard I think for the first time with this storm is that intensification aspect where we're going from a category one to a 5 and just a blink of an eye to talk to us about that phenomena. Well, eastern Gulf of Mexico is a really warm body of water last time we saw something happen like this Katrina went from a category one to a category 5 further north, but in the eastern gulf. You're talking about water temperatures that are close to 90°, about 300 feet deep, so it's like throwing kerosene on a fire. Once you get these systems in where there's high pressure over the gulf, there's very light winds loft. They just go crazy and that's what's happening with Ian this morning. Rob, I remember hurricane bob, which was 91. An arrow pointed right at me. And I never forget the hurricane water surge. It was like a hockey goal high. How big is the surge? It's going to hit David blanche flowers, sanibel island. How about a field goal? A goalpost height, about 14 feet with waves on top of it. The storm sounded the reason you get the storm surges because the pressure drops so low in the center of the storm. The ocean actually rises up to fill that void and it's going to be a rise of about 14 feet with waves on top of it and we think the maximum flooding is probably going to occur around the Port Charlotte area. Probably three or four hours from now. I'm Carolyn. Thank you so much, the best coverage of these storms I've ever heard. Bloomberg surveillance this
UK scraps corporate tax hike, lifts cap on banker bonuses
"The British government is scrapping a corporate tax hike and lifting the cap on bankers bonuses in a bid to boost a faltering economy Treasury chief kwasi Kwame has told lawmakers there are too many barriers for enterprise as he puts lower taxes top of the government's agenda In his mini budget that he was reversing a hike in national insurance taxes that was introduced by the previous government to help pay for health and social care He said the basic rate of income tax will fall from 20 to 19% next year The top rate will go from 45 to 40% in the House of Commons kwa Tang said we need a new approach for a new era focused on growth
We've Got a Lot More Inflation Coming Our Way
"We've got a lot more inflation coming our way. So we've got a lousy economy. We've got a messed up border. You mean to tell me that the Democrats are going to get elected in the fall? You see, they want to do anything they can to distract from it, even having James diller. They're singing to have a inflation party. I mean, that's really what it was. And it was a party celebrating inflation because these guys are so out of touch with what everyday folks are experiencing that they're actually trying to say, hey, this is great. Things are going down. They're not going down. Anywhere's near what we actually need. The Federal Reserve knows that, which is why we're going to find out this week that rates are going up. I've said they ought to go up by a point. We ought to get at least 75 basis points in the market, market may have a tough time for it. Look, some of it could be baked in at this point. That's why you had a really treacherous week last week. I still think Moore's coming. And I think smart investors will start thinking about how they diversify right now, including into things like dividend stocks. I mean, hey, if things are going down, you might as well get paid a little interest, right? To hold a certain equity, so I like dividend stocks. I'm starting to really like treasuries. I told you this is just a couple of weeks ago because those yields are going up. They're looking at 3.4% now on the ten year, that's kind of good. And I expect that they're going to go up even more. So
Inspector General Announces Audit of IRS Employees to Find Tax Cheats
"Just the news treasury inspector general launches on a virus employees cheating on their own taxes In 87,000 more coming imagine Inspector general for tax administration Jay Russell George will conduct the audit at the request of the Iowa Republican senator Joni Hurst according to the Washington times before Biden's army of auditors start harassing innocent taxpayers Let's first make sure the tax collectors have paid their own taxes So senator Ernst The mass order comes as the agency prepares to hire 87,000 agents And the Democrat every single Democrat voted for those 87,000 agents I'm waiting for Mitch McConnell to repeat something that I have encouraged the Republicans to say I heard Cruz say at the other night The Republicans should commit to getting rid of them To defunding them And you know what Mitch McConnell said mister producer Nothing
"us treasury" Discussed on Bloomberg Radio New York
"Allow foreign visitors to book trips directly and travel freely within the country. Broadcaster F and N says the change could be made as soon as this week Previously, tourists were required to plan trips through a travel agency. US Treasury secretary Janet Yellen says the fed will need great skill to achieve a soft landing in the economy. She told CNN's State of the Union that the U.S. can not have a strong labor market unless it gets inflation under control. Yellen says the fed will need to use good judgment in tackling high prices. The fit is going to need great skill and also some good look to achieve what we sometimes call a soft landing, which is bringing inflation down while maintaining the strength of the labor market. And my hope I believe there is a path to accomplishing that and my hope is that we will achieve a soft landing, but Americans know that it's essential to bring inflation down and over the longer run we can't have a strong labor market without inflation under control. The fed meets next on September 20th. Let's check the markets, the nikkei rally in 1.1%, 314 points to the upside. The ASX 200 in Sydney up 1.1%, the Taiwan Tai X index gaining 1.6%, several markets closed for holiday. Global news 24 hours a day live and on Bloomberg quicktake brought to you by 2700 journalists and analysts in a 120 countries. In Hong Kong, I'm Brian Curtis. This is Bloomberg. This is Bloomberg Wall Street week with David Weston from Bloomberg radio. They say it's always darkest before the dawn, and there's plenty of dark out there for investors right now, with the stock market off. Overall positioning has still been pretty depressed in sentiment reflects that. Inflation still raging. Inflation's stickiness is not going away anytime soon. And the fed intent on continuing to hike rates. It was fairly obvious coming in year that the fed would tighten. But there may also be some early rays of light, with commodity prices coming back down. If the fed continues to tighten, we believe the dollar will turn back up and these commodities will continue to fall. So the question is whether this is a false dawn or whether it's actually a good time for the patient investor to position for a rosier future. And to tell us which of those
The Future of This Country Is Precarious at Best
"Future of this country, which any way you slice it really just continues to get more and more precarious and whether it's the words that we're hearing out of Joe Biden, which is setting the tone as we go into November or whether it's what we're hearing from the Federal Reserve and that they have to keep up in rates to deal with inflation, which is going to send us into a more challenging economic spot. I would be the first to tell you, I don't think they have a choice at this point. Because they screwed up way back when, going back as far as two years ago, frankly, when they shouldn't have been printing as much when the administration was handing out stimulus checks. I mean, you just can't do that and not expect there to be some kind of consequence. It's the reason why I'm worried about the market right now. On the bright side on the bright side, hey, you know, for savers, you might actually have a shot at getting some kind of interest rate on your CD or your treasuries. I mean, hey, who would have thought? Anyway, there are a lot of challenges ahead and I suspect as we go into November right now. The Democrats do not really have a pitch. You'd want to be able to say, hey, you know, the economy's doing great. This, that, the other, they don't have a pitch. And so what they're going to continue is the narrative that you saw the other night, and somehow conservatives are dangerous. And I think a lot of conservatives feel very strongly that they're dangerous because of what they're saying. It's like we're doubling down on all the danger guys. You know what? You got to stop it. We've got to be able to have an actual civil dialog. And yet, you know, it makes me think that we're broken. We're just utterly broken as a society because you have politicians so desperate to get reelected. There's so much riding on it, and they don't care. I mean, they only care about themselves. They don't really care about the country. Let's be honest. They care about their tweets. They care about their 27 characters that are going to just be explosive enough to get their message across and get enough excitement. They're trying to get the base involved. That's what, that's what the other night was really about.
Britain to learn who will succeed Johnson as prime minister
"Britain's Conservative Party has chosen foreign secretary Liz truss as the party's new leader putting her in line to be confirmed as prime minister The party's new need at Liz truss vows fast action on key issues I will deliver a bold plan to cut taxes and grow our economy I will deliver on the energy crisis dealing with people's energy bills but also dealing with the long-term issues we have on energy supply Trust beat rival Rishi sunak the government's former treasury chief by promising to increase defense spending and cut taxes while refusing to
"us treasury" Discussed on Bloomberg Radio New York
"War in Ukraine while constraining cash flows to Moscow, US Treasury secretary Janet Yellen says she's confident about this tax proposed by the G 7. I'm really optimistic about the substantial progress that's been made by our teams and the entire G 7 toward making the price cap a reality. And as I see it, the price cap will advance or two key objectives. That treasury secondary and speaking there during a joint briefing with the UK Chancellor of the exchequer nadeem zahawi, oil has extended its longest losing streak since 2020. Okay, there's a few of our top stories this morning, and let's find out what to watch out for for the rest of the day. Has been both Leanne. Good morning. Caroline, good morning to you so at 10 a.m. UK time will have the latest Italian GDP figures out. Also at 10 a.m. we'll have Euro area unemployment numbers and we'll be watching those carefully for you. At ten 30 a.m. we get UK August manufacturing PMI data and at the very same time we get the BOE's decision maker survey so that all happening this morning. Then at one 30 p.m. we'll have some data out of the U.S. now this will include initial jobless claims and later we have the results from the U.S. chip manufacturer Broadcom but finally here in the UK it's a big deal and the football summer transfer window which opened up on the 10th of June is closing today at 11 p.m. and it could be a really busy one for Manchester United and Chelsea. So keep your eye on that if that's the kind of thing you like. Absolutely to that on the football. Also we're expecting Boris Johnson to make one of his final speeches if not the last speech. He's wrapping up his farewell tour of England today, British prime minister. Thanks so much, Liang Gary, for a look at all of the things we're watching out for today. This is Bloomberg
Tea Party Targeter Tasked to Create IRS Office Overseeing New Agents
"From PJ media Athena Thorne Obama era Tea Party targeter Appointed to create IRS office overseeing 87,000 new agents Nicole flax worked under Lois learner the Obama administration IRS While the agency infamously targeted conservative political organizations such as the Tea Party By slow walking and suppressing their tax exempt applications You know how we first learned about this mister producer He came over the transmit landmark legal foundation when I was president there Remember that Somebody said look at what they're doing The IRS is sending to us so we immediately filed papers with the inspector general the Treasury Department the commissioner the IRS the secretary treasury And how blow this thing wide open She was also one of 7 executive whose hard drives mysteriously self destructed Preventing house investigators from viewing her emails Now the career IRS executive has been tapped to establish a new centralized office in charge of implementing the Democrats latest tax and spending bill including oversight of the 87,000 new IRS agents that Bill authorizes IRS commissioner Charles Reddick sent an agency wide email on August 19 writing This is a historic time for the IRS We're working to move quickly to begin work on the inflation reduction act signed into law earlier this week He then announced the new department A key part of our efforts will be the creation of a new centralized office for implementation of all IRS related provisions Building up our successes implementing other major legislative bills
Democrats and the Student Loan Giveaway
"The Biden administration student alone debt cancellation plan may cost more than $1 trillion according to the analysis from the University of Pennsylvania's Penn Wharton budget model. The largest potential cost driver ped Wharton identified is the Biden administration's new income driven, repayment plan, which includes capping monthly student loan payments at 5% of a borrower's discretionary income. And reforming the repayment guidelines to guarantee that no borrower who makes quote about the annual equivalent of a $15 minimum wage will have to make monthly loan payments. That cancellation alone will cost the United States up to $519 billion. Wharton found in an analysis published Friday. Loan forbearance which allows borrowers to temporarily stop paying will cost an estimated $16 billion. The income driven repayment plan will initially cost $70 billion. But specific. Specific details have yet to be released. Finally, the report comes as the United States national debt is already more than $30.8 trillion. According to the treasury.
U.S. Braces for Jerome Powell's Speech Tomorrow
"To look at that purchasing power of the U.S. dollar which has been dwindling. Even without the 9.1 and what is it 8 point something percent inflation? It has been dwindling over the years and a lot of people do not think I'm one of them that the fed is going to be able to bring this under control. We of course will find out tomorrow because Jerome Paul is going to be speaking out there the shindig. This is like, this is the Emmys or the Oscars, if you would, and fed world, and Jean-Paul has this big speech. He's just screwed up over and over again, and I have absolutely no faith in the guy. I mean, I'm disappointed, highly disappointed in him. I thought he would have done a whole lot better. He did have a little bit real world experience, so I thought, okay, great. At least you don't have a total academic in there. But maybe he's just influenced too much by his old boss. That would be Janet Yellen, who was an academic, total academic, and a bureaucrat. And is now our treasury secretary. And sat there with a straight face and told us the inflation was just transitory. I'm sorry. I'm sorry. So now the Federal Reserve is trying to get into control and Joe Biden is fighting them at this game because he is going to add, I got the numbers here for you. These are independent estimates. Suggesting that this plan is going to cost $300 billion over ten years time. And that will add to the federal deficit. That means we've got more long-term problems, but nobody cares, right? For Joe Biden and for the Democrats, you just push that can down their kick the can down the road. Kick it a little more. Let it be somebody else's problem. All you need to worry about is getting elected again, right?
Biden Signs Bill Allowing Camp Lejeune Lawsuits to Be Filed
"Now the federal government has apparently passed a bill that funds an enormous amount of money for victims of drinking water I think a camp lejeune some 30 40 years ago Have you been seeing these commercials mister producer Everywhere you see the slip and fall lawyers don't you Here's the little dirty secret I talked about the teachers union I talked about the IRS and Treasury Department union The massive amounts of your money that flows into the Democrat party you pay all these salaries The slip and fall lawyers and the teachers unions are the two biggest donors to the Democrat party The two biggest So the Democrat parties like a mob operation it takes money off the top because it knows that it's going to get all kinds of massive dark money from the trial lawyers Have you noticed they never target the trial lawyers When's the last hearing on trial lawyers in their 35 40% cash grabs and class action suits Have you seen those There aren't any Or the hearings on the price of colleges and universities He's seen those No In other words they protect theirs How about the abuses of public sector unions I know they want to attack the cops and the I'm not talking about that I'm talking about the paper pushers The massive federal bureaucracy when's the last time they held a hearing on that the Democrat They never do It's another donor base So they create these donor bases
How to Help Small Businesses Under Biden With Blaine Luetkemeyer
"Things that I think is interesting coming out of this is there's this discussion about all these job growth and everything over the last year. You hit on it with the small business. I've been very frustrated when the Biden administration talks about how many jobs they've created. And the reality of it is most of it was coming back either from being stopped or delayed during COVID. And the reality is our small businesses are just getting back to try and where they were because of COVID more than anything that the Biden administration in particular has done. Yeah, there's a number of things in your comment there. You know, the Biden administration says they've created all these jobs. Quite frankly, they haven't created one single new job. Doug. If you look at the number of jobs that were in our economy, part of the pandemic were still over half a million jobs short of where we were private pandemic. So this administration still hasn't caught up. To where we were prior to the pandemic. So they haven't created one new job. From standpoint of the things that have been helpful to small business keeping business. That was a PPP program. That was a hugely successful program. It was actually a treasury program that was put together by treasury. It took an SBA program, the 7 a program, and turned it into the PPP program, and oversaw that within a small business administration being an administrator of the program. And as we've gone through the process, it's a very highly successful. There was a there's been some fraud in it, but minimal fraud compared to the problems that we have with other SBA programs. And most of the fraud was actually centered in FinTech companies. It wasn't banks and credit unions. It was FinTech companies. And that's primarily centered in about half a dozen different companies. So we've got it narrowed down to know exactly what the problem was and who did it.
"us treasury" Discussed on Crypto Current
"Some wallets that are actually larger entities. Okay? So I'll break that down for you in a minute here, but I guarantee you there's going to be a crypto native way to look at this and a traditional finance way to look at this. I'm curious how you view this article because I think that I may view it a little bit differently. Potentially, for those who don't know what to NATO, cash is, it is a way to wander money legally. Well, I won't say legally, but you can launder money. It's laundering it privately, not legal. Yeah, not legally privately. That's definitely not the right. That is the right word. Privately is the right word. Legally, not because laundering money in anywhere is not legal. So tornado cash, you can do it. And I'm not advising anyone who's listening to this right now to go launder money, not doing that. And I'm letting you know the tornado cache is a place where you can do that. And again, not saying you should go do that. Whole point being the US Treasury formally figured out that like, hey, this is a place they can go do that. We should probably shut this down and they did it. I'm not really upset about it. I don't know any scenario where you would need to be using tornado cache. I just don't. I don't have maybe you have some good examples, but I can't pull something to justify using the tornado cache. Yeah, I can't. Is the answer. I think that the reason why I say that my answer is probably a little bit different from yours on this one is because I believe that tornado cows should be illegal, I believe that every single piece of it is just at the end of the day the on paper definition of money laundering and that's not something we can allow to continue happening, but the reason why this eventually came down and this was the ruling was because it was directly linked to a North Korean hacking group that state endorsed by North Korea that laundered like I want to say it was something like $9 million or $90 million through tornado cash. Basically what they did is they took the money that was stolen. They sent it into parcels. It's like they may have chopped it up into like ten different movements where basically it gets thrown into tornado cash with a bunch of other people's money and it then just spins it up and spits it out to another address that they provide it. Privately and securely. There are ways to still track through tornado cash. You can get around it. You can track those payments. There are a lot of different block explorers out there and different crypto forensic companies that have cracked that and know how to do it. So I don't necessarily know if it was necessary to go so far as blacklisting it just yet. And this is why I think I have the more surprising take on this. I think that tornado cash should be illegal. I just don't like how they did it. I think that having the US Treasury and the government take this strong armed approach where they don't even put it in front of the in front of Congress, and they just simply legislate because they believe they have the power over privacy. Is a little twisted, and I would much rather see something like this be passed through by way of legislation and really determine what services U.S. citizens should not be able to access for not only their privacy, but for their safety. And to prevent money loaner. That's the one piece of this that I don't like is the fact that it was just government overreach in my opinion. Are they protecting? Yeah, they are because ultimately it's money laundering. But I don't know. I like to believe in the constitution and how the Congress should work. That doesn't mean that it does all the time. Yeah, not to spend too much time on this. But I thought that came up and I really want to just put it out there. And this is completely outside of crypto by far, but on that same on that same track. There are things where the constitutional due process, I do think isn't necessarily as it should. For example, if someone can go and shoot up a school and then have due process to then have whatever is built to them, I don't know if that's necessarily the thing either, right? I think there's a lot of ways that you can slice the due process piece of this. But again, this is a political show. I'm not going to spend a lot of time here, but just know that don't do work to NATO cash. The administrator just banned it as illegal. You go to jail. Yeah, and to be clear, it's not meant to go political. But when I think due process, I don't necessarily equate that with what you would give us the example there. I know that it is. But when I'm talking about due process, I mean from like the legislating perspective. How we go about passing laws and how we go about regulating industries. That to me is something that needs to be put through Congress on a legislative level as opposed to something like litigating in order to regulate. Which we've seen time and time again this stupid, ongoing SEC case against ripple. But we'll talk more about that on an upcoming show. I'm sure, so let's jump into our second to last story in the web three lighting around this week. And that's a very quick one about cardano's vassal hard fork. It is the next big move forward for cardano, which is another web three ecosystem project like Ethereum. It will be moving this hard fork forward in September. There's not a lot more to report on that, but this is the next major milestone for cardano as it continues to roll out globally and continues to bring more and more people into its ecosystem. I think the next update after this should bring Hydra, which I think should be a really, really massive update for multi chain connectivity. But this is something that enables Hydra. So I'm really excited about it. Hopefully we can see this start to build cardano a little bit more momentum into the next cycle. But do you have any final thoughts on this one before we go ahead? I know has to have more use cases that people can come and actively use it. I think the hard fork helps to get there. But cardano has been extremely underwhelming, unfortunately, but I do think there's a turning point that can come. But I think they're running out of time as we get closer to eth two. Yeah, I think it's no, it's not just circumstantial that it's happening at the same time. Right. Because these two is officially supposed to move forward in September. And both of these are major chapters for each network. So I'm excited for it. I think it'll be interesting to see how it develops. I think there's a place for all of them out there. And that brings us to the one that I'm not sure has a place out there anymore. So Solana, you may have heard of it. It's like cardano. It's an eth competitor. But it recently got hacked. And it got hacked in a big way. A number of people's phantom wallets and other wallets ended up getting drained and they could not for the life of them figure out how to breach occurred. Richard, would you like to see what a red flag looks like? To get hacked and have no idea how it happened. That's terrifying. That is downright terrifying. And I am not going to say that I like Solana, but I find it really funny that that happened to Solana.
"us treasury" Discussed on Crypto Current
"For cryptocurrency? I'm Stephen Miller, and you are listening to the aftershock, our weekly show, where we catch you up on all things web three. Today is always, I'm joined by my co host, Richard carthon, Richard. How are you doing today? What's up everybody? I'm doing good. Happy to see. The crypto market started to turn a little bullish. We got a market cap back above a trillion dollars back like one point 1 trillion right now, which is trending in the right directions. Bitcoin is trying to break through this 24 $1000 threshold. We have Ethereum trying to break through to 1800. I got a lot of other alts out here trying to break through. So I'm optimistic and it's good to have some optimism after several months of pessimism. So I'm feeling pretty good, Steve. How about you? How things going for you? I got to tell you, man, my energy level is going to be a little bit questionable today. I had a long weekend in rocky point with my family. So it is a little bit drained, but I'm coming back. I'm here to talk all about what's going on in the world of web three and make sure that our listeners are well connected. And that's the mission for today, just as it is with every aftershock episode. So I'm hoping to catch a little bit of a second wind here shortly and start making sure that we keep everybody up to date. I'm really pumped about the NFT market right now. I think that a lot of things are starting to officially shift gears. The most questionable thing, I think people wanted for a while and I was like, when are we going to start moving away from Freeman's? And I think the time is starting to come. I'm very refreshed on that. I think that is about to shift. But there are two or three other Freeman projects I think that are going to come in the next week or two. They're going to be worth your attention. But I don't know if we're going to see many more after that. Because I think people are starting to move money back into the NFT market slowly but surely. So I'm excited about it. I think there's a lot more to talk about in the NFT and the crypto space at large. And that's what we're going to do today. So I certainly hope that you guys are all buckled in and ready because this is the aftershock. Let's dive right in. The aftershock. So for those at home that may not know this is the lightning round where we take you through everything web three first and our top story today is BlackRock, partnering with coinbase to offer institutional investors, access to crypto services. Richard, what do you know about this story? What can you tell us? So it's really interesting about BlackRock as they have one of the largest amounts of assets under management, AUM. I think roughly 5 trillion close to that. And by having this partnership, you now have institutional investors that have a direct line to crypto exposure. For a long time, we've been talking about, oh, when is institutional money coming, oh, when it's all that's happening. Again, you're dealing with someone who has 5 trillion with the T, like 5 X when I talked about earlier of the entire crypto market. Has 5 trillion assets under management. This is just one company. And now let's say they get to a point where they thought, okay, we want to get some exposure. Let's say they want to put 10%. So almost like that, if they decided tomorrow, hey, we're going to try to get to 10% exposure over the next year. The entire market cap. What almost double? Like that. Would one company with one big partnership like this? So this is extremely exciting. And I think it's the first step in big institutional money starting to find more easy access to be able to get diversified into crypto. So I think this is a very bullish signal. And I have to agree, I think there is another story out of coinbase in the last week that it was just as bullish and I think that you've now got big positives on the side of the institutions, but you also have big partnerships coming from the side of social media and then wanting to make sure that they are providing access to the most users they can on the retail side as well as institutional. So they announced that their officially rolling out Instagram and Facebook NFT integrations across more than a hundred different countries and it also including the flow blockchain in that rollout. So there's a lot that's coming from coinbase still. I think it's still very young in terms of the rest of the market. But the fact that BlackRock is jumping in and you see them partnering across the board with companies like coinbase, meta, it's all exciting. So I'm going to keep an eye on this story for sure. There's a lot more to talk about though. Our next one is Singapore, the Singapore based crypto lender, HODL not, has officially suspended withdrawals. It's just the next in what? An onslaught of just continual companies that are just starting to prove that they're not capable of being a lender or a exchange or credit. They're just all, they're all defaulting left and right. And it's just killing all of their user base, which sucks. I know that Singapore based HODL not was one of the top I believe brokers out of Singapore. So this one's definitely a hit. Is it as big of a hit as a Voyager? Probably not. But some of it's as big, but it's still, man. It's a big gut punch. And we still haven't seen the tele effects of everything with Tara Luna. Unfortunately. And it goes back to core problem of what we're seeing a lot of DeFi protocols, which there's a lot of companies that are trying to go and address it now, but the idea of what does it mean to have credit. Or to have on file previous history of creditors. Because as you're starting to lend out all of this DeFi to these different people institutions whomever, because you don't really know, it's decentralized. If they default it in the past, if they're not someone who's going to be able to pay back their loan, and you just do that over and over again and you have a checklist event happens such as a Tara Luna, you wind up back to this position. So what I think is going to come out of this, you're going to start finding more protocols trying to find ways to see how creditworthy they are before they start to lend this type of money out because they can't afford to keep doing this. And I think you're right. I think the one thing that I kind of have a tendency to go down a different path on is just like looking at all of these different agencies and ask myself how many of them can still be over leveraged. Right? You would think that after a while they would just get washed out and we would see the full effect happen. But it's not so it's not so simple. These things can stretch on for months and until we see that all of its washed out. We're not going to see a true recovery. I think we will move it everything right now indicates that we are on the way back up or at the very least into a stabilizing territory because of what you see on the Bitcoin and the eth rainbow charts. Shout out to our friends over at blockchain center dot net if you have not yet learned about those charts, highly recommend that you check those out after the video. But for the path forward from here, I see that these players need to be shaken out and it just sucks that HODL knot has to be one of those casualties. So we will, of course, keep you updated. I have nothing but hope until we get to the next story. next story has to do with mixing service tornado cash. So I don't know if you're familiar with this one, rich, this came down Monday morning. US Treasury formally has blacklisted crypto mixing service tornado cash and it's associated wallets. Now, the associated wallets piece of this is let's just say a little sauce because they blacklisted
Congress can get Trump tax records, appeals court rules
"I'm Mike Gracia reporting an appeals court rules Congress can get former president Trump's tax records A federal appeals court has agreed with the lower court ruling saying Congress can access former president Donald Trump's tax returns a three judge panel of the U.S. Court of Appeals for the District of Columbia circuit agreed with U.S. district judge Trevor mcfadin a Trump appointee who in a December ruling said the chairman of the House ways and means committee has brought authority to request the records The House ways and means panel first requested Trump's tax returns in 2019 Under the Trump administration the Justice Department defended the decision by then treasury secretary Steven Mnuchin to withhold the tax returns from Congress Mnuchin argued the records were being sought by Democrats for partisan reasons Mike Gracia Washington
Paul Manafort Admits Everything Was a Lie
"Paul Manafort finally made his first public emission he shared polling data with konstantin kilimnik. He says the purpose of sharing the data was not to get Trump elected to make money for himself. They're all the same. I mean, it was both actually, but he said it passed the data to Russian spies, according to the US Treasury Department, which was characterized the data as sensitive information on polling and campaign strategy, a Manafort acknowledgment contradicts his earlier denials during obviously the Mueller investigation that he had anything to do with the transfer sensitive campaign data. It also differs from the account he gives in his memoir, which he concedes only that he presented limnic with talking points on polling data that was already public. The data I shared with him, he said, was a combination of public information and stuff that was old. It was one of his primary lines of defense the data he funneled to kilimnik was essentially worthless. Contrary to Manafort's claim, the data was not from the spring. It was collected in mid July 2 weeks before the meeting with kilimnik. So what we already knew has now been proven everything he said was a lie.
Biden Is Wrong About Inflation Bill
"Joe Biden went on in that White House zoom. I mean, I hope the guy recovers quickly. He looks awful. He's in week two of COVID. Cut number two. Let me be clear. Despite what some folks are saying. The inflation reduction act makes sure that no one earning less than $400,000 a year will pay a penny more in federal taxes, notwithstanding all these ads you can't television. But don't take my word for it. Nearly 130 economists, 7 Nobel laureates and economics, former former treasury secretaries, the Federal Reserve vice chair, former director of the congressional budget office. Wrote that this bill will quote fight inflation of lower cost for American families while setting the stage for strong, stable, and broadly shared long-term economic growth. This is absurd, and by the way, remember all those same economists said, we wouldn't have anything. We wouldn't have inflation that it would be transitory than it wouldn't be so long and it would depend upon supply chain.
U.S. Treasury Secretary says while economy is slowing, labor market is still strong.
"Treasury secretary Janet Yellen says the U.S. is better positioned than in the past as recessionary pressures flare I'm Lisa dwyer with the latest During a press breathing treasury secretary Janet Yellen emphasized that the U.S. economy while slowing has more resiliency than in past downturns She highlighted the strong labor market We need to see a slowdown in growth We are seeing that I do believe there is a path by which we maintain a strong labor market Gillen says that high prices are a top priority for the Biden administration The biggest burden that's weighing on negatively on household sentiment is inflation Young said that while there are positives about the U.S. economy along with inflation there are still headwinds at play largely due to Russia's invasion of Ukraine and the slowdown in the global supply chain I'm Lisa dwyer
Biden Advisors, Other Democrats in Complete Denial of a Recession
"This is so hysterical from Arabian. I got to play this for you. This is a whole bunch of the usual suspects Powell and yelling and deese and Jean Pierre. This is a Montage from graben of Biden advisers, prominent Democrats, the treasury secretary and others. Check this out. All signs are that this is a strong economy and the probability of a recession within the next year is not particularly elevated. It's a strong economy. And nothing about it suggests that it's that it's close to or vulnerable to a recession. I don't expect a recession. No one is predicting every session now. We are not expecting that we are already in the recession. In fact, the guts and the bones of this economy remain strong. These are not the marks of an economy in recession. Right now, we don't see a recession right now. That is not we're not in a recession right now. This is not an economy that's in recession. Not only is a recession not inevitable, but I think that a lot of people are underestimating those strengths and the resilience of the American economy. We have a strong labor market, which you don't normally see in a recession. A recession is broad based weakness in the economy. We're not seeing that now. In your view is a recession in the United States inevitable. No. Typically economists data recession as being at least two quarters of negative growth and other and other factors, which we have not seen at all. The idea that two quarters of negative GDP growth is a technical definition of a recession is wrong. A common definition of recession is too negative quarters of GDP growth. Two quarters of negative growth in a row, that's a recession. Right, and certainly the in terms of the technical definition, it's not a recession, the technical definition considers a much broader spectrum of data points. What is exactly The White House is definition of a recession. Again, we don't we don't I'm not going to define it from here.
Andy Puzder Explains How Biden Caused the Inflation Crisis
"Andy, last night, Lee and Garrett and yesterday, Dwayne and I were coming back from lunch and then Uber, driven by Ali. And all he's a great black guy who is getting on my case. He's seen me on MSNBC and NBC, and I don't think he watches Fox. And all he says, do you really think Joe Biden causes inflation? I said, they spent $2 trillion that we didn't need to spend. Of course they did. And then they added on the infrastructure Bill. Of course they caused inflation. I don't know who they want to blame Putin. What do you think of that argument? Well, the argument that Biden didn't cause this is ridiculous. Larry summers came out, who was the Larry summers isn't like some far right Republican. You know, he's not going to be having lunch with you and Andy. This is a guy from Harvard who was secretary of treasury under Clinton. He ran the council of economic advisers for president Obama. He came out before they passed this $1.9 trillion bill and said, do not pass this bill. He came out in The Washington Post with an article that said, this will ignite inflation. You're going to end up with hyperinflation if you pass that. They pass it, and it ignited hyperinflation. Jason fuhrman, another leftist economist, said the same thing. Steve ratner, who was an Obama economist, said the same thing. Do not do not do this spending bill. They did it anyway. It ignited inflation, and it caused the current problems we're having. You know, look, if demand is way up and the fed's trying to bring demand down, don't spend money. What you could do, what you couldn't do to support the fed's efforts is try and increase supply. Because if supply and demand meet, it doesn't matter how high demand is. If we have enough supply to meet it, there's no inflation. That was the case under president Trump. Plenty of supply, plenty of demand. Now we've got this excessive demand and limited supply. Encourage the supply side. Reduce regulation. So businesses want to produce. This is the key to the key.
"us treasury" Discussed on Bloomberg Radio New York
"And at Bloomberg quick take This is a Bloomberg business flash Let's begin with the PMI data for China factories continued to struggle in the month of May That is clear given the fact that many of the tightest COVID restrictions either remained in place or began shifting at a gradual pace the official manufacturing PMI coming in at a reading of 49.6 Now that was above estimates if you look at the services economy in China non manufacturing PMI with a reading of 47 .8 also above forecast but important to point out both of these readings remain in contraction Even so China's national bureau of statistics is saying this shows improved sentiment in the month of May maybe for that reason we're getting a lift in equities Shanghai composite better by about two tenths of 1% Other markets have been kind of fluctuating between gains and losses The market in Hong Kong is essentially flat right now a similar story for the market in Tokyo We've got a little positivity in Seoul and some weakness in Australia with the ASX 200 down about two tenths of 1% One of the key things developing in the Asian session right now is the move up in US Treasury yields right across the curve In both the case of the two and the ten year we're up by more than 9 basis points Some of this may have to do with what we heard from fed governor Chris Waller He was saying half point rate hike should be left on the table at the next several meetings He says the fed should keep raising rates until inflation cools closer to the fed's 2% target Remember back to that PCE deflator Friday with a rate of what 6.3% that's three times the fed's target of two point or let's call it 2% flat so we have a ways to go This move up and yields strengthening the dollar quite a bit with the Bloomberg dollar spot index rising about three tenths of 1% All right we'll take another look at market action on the other side of the top of the hour Ed Baxter next with a look at global news headlines Eddie Ah right thank you Douglas Australia's prime minister Anthony albanese Labor Party has clinched a parliamentary majority in the lower house China's announced plans.
"us treasury" Discussed on Bloomberg Radio New York
"Leading the decline kind of curious too because the end quite a bit weaker we were down in the New York session on Friday and right now the yen is off about two tenths of 1% against the greenback at one 30 80 So we're looking at a lot of weakness across the apac region There is worry about high inflation and some of the difficulties seen in the equity market here in the states on Friday after a very strong read on U.S. employment the data for April indicated robust gains And then on top of that the head of the Richmond fed Tom barkin was saying he's unwilling to take a 75 basis point hike off the table So at the long end of the US Treasury curve we had the yield on the ten year jumping 9 basis points to 3.12% And now in the opening moments of Tokyo trading 3.14% on the U.S. ten year and a two year at about two 73 very little change at the short end of the US Treasury curve and sold a Cosby sagging just about four tenths of 1% and in Sydney the ASX 200 down about three tenths of 1% Over the weekend Chinese Premier Li keqiang was calling the employment situation in China complicated and grave and we'll be talking more about that particularly as we get closer to the trade data for China We'll have those numbers for the month of April coming up here on daybreak Asia More on markets in 15 minutes Brian All right Doug thanks very much Yeah oil prices lower this morning Saudi Aramco has actually lowered prices for buyers in Asia The price of Arab light grade is now just $4 and 40 cents above the benchmark Argus sour crude index The prior price for Asian buyers was 9 35 above the benchmark It amounts to a cut of roughly $5 The reason is simple virus lockdowns in China are weighing on demand Bloomberg analysis shows that Chinese consumption of gasoline diesel and aviation fuel is expected to be down some 20% in April versus last year In the meantime China's leaders are warning against any criticism of Beijing's COVID zero strategy Yet we heard over the weekend as Doug mentioned the Chinese Premier League kitchen warning of a tough jobs picture as the government tries to contain COVID Juliet Well we are hearing the U.S. is slapping new sanctions on Russia the move coming as Russia prepares for its may 9th victory day military parade We get more on the new restrictions from Bloomberg's Denise Pellegrini Sources say the U.S. is banning accounting and consulting firms from working with Russia This means U.S. entities are being banned from doing things like providing accounting corporate formation or management consulting services to any Russian entity Also Washington is imposing its first sanctions on Gazprom bank And on top of all this the Biden administration is also adding new export controls on industrial goods limiting three of Russia's top state controlled TV stations and it's also adding additional Visa restrictions Denise Pellegrini Bloomberg day breakage All right the time now is about four and a half minutes coming up We have Kamal Sri Kumar president of Sri kmar global strategies I'll try to hold three's feet to the fire He's pretty bearish in some ways So we'll get to that in a moment but now it's time for global news.
"us treasury" Discussed on Bloomberg Radio New York
"Is serving to hold down oil prices I think gas prices peaked in now come down some from their peak We're working very diligently on supply chain issues to get our ports working better and we're doing what we can to bring down inflation so that's very important We're reexamining carefully trade strategy with respect to China and I think it's worth considering we certainly want to do what we can to address inflation and there would be some desirable effects It's something we're looking at That was US Treasury secretary Janet Yellen catching up with Bloomberg's David west and of course David host of balance of power on Bloomberg radio and Bloomberg TV You can check out more of that interview at Bloomberg dot com also catch it on Wall Street week with David over the weekend What's interesting and I kind of left it out going into it but David I believe gets into it in that conversation is that I mentioned the G 20 finance ministers and Central Bank chiefs that have been meeting in Washington this week And at one session treasury secretary Janet Yellen led a partial walkout from a session that featured Russian officials in protest over their inclusion given Moscow's invasion of Ukraine So a meeting world leader so much top of mind and of course the war certainly front and center too Yeah a lot of interesting I don't even want to call them tidbits but headlines come in from David's interview with a US Treasury treasury secretary Janet Yellen She did suggest that the U.S. is open to scaling back the widespread Trump there are tariffs on merchandise imports to help provide Americans relief from the fastest inflation in four decades She did say were reexamining carefully our trade strategy with respect to China It's worth considering we certainly don't want to do what we can we certainly do want to do what we can do to address inflation and there would be some desirable effects It's something we're taking a look at Yeah I mean the administration looking at so many different things when it comes to those higher prices are out there We've seen that certainly with the release of strategic reserves and that is certainly helped out against to some extent the energy markets here in the U.S. Yeah we note in our Bloomberg news story that the Peterson institute for international economics last month estimated that eliminating a wide array of those Trump era tariffs including those on Chinese goods it could reduce inflation by 1.3% That's pretty significant That would bring it down Still high but would bring it down a lot All right catch David's interview on Wall Street week and also on the Bloomberg terminal You are listening to Bloomberg business week Carol master Tim steinbeck right here on Bloomberg Well let's get to world of.
"us treasury" Discussed on Bloomberg Radio New York
"With US Treasury secretary Janet Yellen Treasury is committed to holding Russia accountable What are her thoughts on inflation The war in Ukraine and the path ahead for the economy Americans feel confident about the job market US Treasury secretary Janet Yellen tune in to a special edition of balance of power This morning at 1145 On Bloomberg 11 frio the Bloomberg business app and Bloomberg radio dot com Influential conversations from Bloomberg television Here's Tom Keane Brent shooting joins us right now chief investment officer If people thinking more long term Northwestern Mutual Brent I love love love your 5 paragraph note where you basically say what everybody calm down and look out beyond How far out is beyond where I can remain calm Well I certainly think over the long term people should remain calm because that's the This is a Bloomberg money minute There's a huge crypto community on Twitter and has the social media giant has recently been approached by Tesla founder Elon Musk hostile takeover style How could more involvement from the billionaire in Twitter impact the crypto community If you were to become more involved in the community crypto enthusiasts would be extremely extremely happy Lightspeed ventures partners Mercedes Benz She says Musk buying Twitter would raise questions about the messaging platform and the future of speech There's been a lot of speculation around whether that would mean a more decentralized messaging platform There's a lot of talk about what type of speech will be allowed And on a broader scale brint says social media and commerce is seen merging I think this is one of the big areas that has been not fully realized yet in the crypto space is a social network that is.
"us treasury" Discussed on WTOP
"51 CBS News special report delegations from Ukraine and Russia are now meeting at the border with Belarus as the fighting continues in Ukraine Russian forces are trying to take the second largest city car key Ukraine's resistance is getting a big boost from the presence of the country's democratically elected leader CBS Holly Williams is in key With his country in crisis Ukraine's president Vladimir zelensky is the very definition of leading from the front Sharing videos of himself on the street to reassure his people that he's still in the country The U.S. has now closed its embassy in Belarus and has said all non-essential personnel at its embassies in Russia can leave And the US Treasury Department says U.S. citizens and banks can no longer conduct business with Russia's Central Bank CBS News special report I'm Christopher Cruise And of course keep it here on WTO and check out WTO P dot com for all the latest from Ukraine throughout the day It's 9 53 and the Supreme Court is set to hear arguments today over whether the Biden administration has the power to limit carbon dioxide emissions from power plants As it stands no federal regulation directly limits such emissions but a lower court has affirmed a broad view of the EPA's regulatory power a group of Republican led states is trying to block a climate programs the Biden administration could propose for the future Up ahead on WTO A Glover park staple is back I'm Jeff clay It's 9 53 Discover thousands of dollars in new tax credits with Jackson Hewitt get a head start on your taxes sketching a point then with one of our tax pros and learn more at Jackson Hewitt dot com.
"us treasury" Discussed on The Breakdown with NLW
"Let's come to BlockFi and the SEC. We gave extensive airtime to BlockFi challenges with the SEC at the end of last year. And specifically, it was around the practices around their high yield interest bearing accounts. So why might this have attracted attention? Well, on the one hand it wasn't some big hypey ICO, but on the other hand, you could see how a regulator would think that this product was more likely to attract regular old buyers, right? There were concerns about the opacity of what the investment activities were that were producing these promised yields, and of course in the crypto space there were more cynical takes on the fact that this type of interest bearing activity competes very favorably with the traditional banking activity of savings accounts, which currently offer almost nothing at all. In either case, on Friday Bloomberg reported that BlockFi will agree to a $100 million settlement with the SEC..
"us treasury" Discussed on Bloomberg Radio New York
"Treasuries then and the yield rises We're seeing the pace of that rise Pretty substantial the sell off that we're seeing in treasuries What levels will attract you back into treasuries assuming assuming you don't see them as attractive now to correct me if that assumption is wrong And we believe that actually U.S. treasuries are quite attractive now in terms of foreign investors You ten years US Treasury yields edge against the Euro now provide around 100 basis points over the boon So that should be enough to see higher demand foreign investors We should know more about that with the 20 year US Treasury auction The point here is that the US Treasury will continue to rise and they will probably encounter strong resistance around the 2% but before they arrive to that point we have to consider that there are still compresses forces on the long part of the Inca which comes for example with an expectation of a slower growth in the economy Here more conversations like this one on Bloomberg television streaming live or Bloomberg dot com and on the Bloomberg mobile app or check your local cable listings Bring the season is here I'm looking at ratios that are jaw dropping Investor expectations are low This is an opportunistic stock picker's market It's going to be volatile with Bloomberg breaks the numbers first West falca breaking the rules Those numbers are just massive And expert analysis you won't get anywhere else.
"us treasury" Discussed on Gwinnett Daily Post Podcast
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"us treasury" Discussed on Bloomberg Radio New York
"In the bond market the yield on the ten year US Treasury note rose to 1.55% a level not seen since June and concerns over rising prices also being compounded by a sharp increase in commodity prices Live in New York I'm John Tucker Bloomberg daybreak John thank you We now turn to D.C. and the latest development on infrastructure house progressives are lining up to define speaker Nancy Pelosi and opposed by partisan bill maybe more as the latest from our Bloomberg 99 one newsroom in Washington Liberals in the house want Democrats to reach a deal on the larger tax and social spending package before they vote on infrastructure They say they're prepared to support both bills but most will only vote for the infrastructure Bill after the build back better act passes So now President Biden has canceled his planned trip to Chicago to stay in Washington to work on a deal with moderate Democrats to trim the size of the three and a half $1 trillion legislation in Washington I may be more as Bloomberg daybreak Thanks Amy The deadline is also taking to keep the government funded and treasury secretary Janet Yellen is warning a U.S. default next month would be catastrophic At that point we expect treasury would be left with very limited resources that would be depleted quickly America would default for the first time in history Secretary Yellen made the comments before the Senate banking committee still the prevailing opinion is that a deal will get done We spoke with democratic congressman from Michigan and Kelly We will and I think we're down to maybe plan C or D at this point The expectation is that when it comes to the debt ceiling and what comes to simply keeping the doors of government open by continuing current funding.
"us treasury" Discussed on Biz Talk Radio
"Out back in 7 40 bc in China during the Tang Dynasty, the government at the time decided to be good to use paper from money. After all, block printing had just been invented and what could be a better use? Could there be for block printing? Then for making money. I'm sure this is the first thing they thought of right now. This was the first introduction of paper money as we know it. I assume the same arguments that people make today about using Bitcoin were made back then about using paper money. Why should I trust paper money instead of just gold or silver eye? Maybe. They said I want to hold my gold and silver in my hands. I don't want paper money. I want to touch my golden the silver. They may even worried about their paper money getting lost or are burned up. There was a fire. There was a fire. At least their goal would still be there. No, Let's advance to the future. Getting our time machine and go to the United States. Paper dollars were originally gold or silver certificates. If you're like me, you've probably seen one if your boomer In other words, paper dollars were a piece of paper that said, You own some gold or silver and basically that gold or silver was being kept safe for you in a vault. At the US Treasury. Any time you could take your paper dollars to U. S government and actually exchange them for gold or silver. So you could say Here's my dollars. I want some gold or silver. I guess people still weren't all that excited about trusting paper money instead. They were just technically trusting the government to hold their gold and silver and keep it secure for them. Assume it was also a lot easier to carry around a paper money that it was the carrier around back. Gold or silver everywhere you went. Melon in 19 sixties, the U. S government took this silver out of the coins. And if you're like me, you probably remember when quarters had silver us. We're all silver. I remember when I was a kid. The quarters were solid silver. Then maybe it was third grade. They started coming out with a little silver on both sides and a lot of copper in the middle of like a sandwich. Then came the seventies and President Nixon. Well, he decided to take the United States off the gold standard completely. Now you may ask..
"us treasury" Discussed on Newsradio 700 WLW
"Is why brought to you by the US treasury and the ad council while dot com all right Brian combs in here this morning order and six Honus got a rash of car break ins yeah we had a reported all over the tri state a locations typically being targeted are work out places land fitness had an issue their western hills location as well as some other others people when they work out like the lock the purser though Wallace their valuables laptop things like that may be left over from work leave me the car and they make an easy target police said that they had cases where somebody just runs up smashes the window reaches and grabs purser the laptop or goes through the the glove compartment looking for a wallet takes it gets away pretty much undetected and they say it happened so fast it's kind of hard to prevent they've got cameras in these parking lots they've got you know a little bit of video the suspect but it's hard to identify the person responsible anyone with information is asked to call crime stoppers three five to thirty forty if you're somebody who works out at one of these locations you're being asked to make sure that you leave your valuables at home or lock them up in gym locker some so that you're not a victim our radio is gonna six now we'll talk flooding there is flood warning up for the Ohio River well we're above flood stage downtown and caught about maybe three feet above flood stage before the river starts to crest this weekend but it's going to cause some minor inconveniences will have the details of six on newsradio seven WWE so much pride five forty seven now seven hundred W. O. W. we do have some online Valentine's day scams you need to hear about here's ABC's.
"us treasury" Discussed on Newsradio 700 WLW
"Brought to you by the US treasury and the I bring comes in here this wave in about thirty minutes I'm gonna ask you about some of your top stories of the year but overnight this may bubble to one of the top stories to tell you it was a violent night in the city of Cincinnati for shooting happened downtown around sycamore in Central Park way about two o'clock this morning so right there where over the Rhine in downtown come together fact the intersections to block this morning this is a police investigate what they found was a pick up truck that crashed there and then two people inside the pickup truck who were shot as police were investigating that they found the third victim a woman who was shot in the parking garage nearby so police trying to figure out who's responsible for that the suspect they believe it crashes S. U. V. into the back of a pickup truck parked to it main in thirteenth so they found a gun in the that car after the accident so they're thinking they're gonna be able to tie that person to the shooting downtown then we have another one in Wheaton terrace it happened about two thirty that was on Bahama terrace I don't have any details on the victims yet police to say that the downtown victims I believe we're all going to be okay their number is the hospital this morning along with the person who was shot in winter sleigh happy new year yeah I was gonna six I will talk about the minimum wage going up in Ohio more than twenty other states across the country is twenty twenty begins tales of fifteen minutes there's radio sort of double double I think so much five forty eight on seven hundred W. O. W. they were scheduled to talk to Tom rivers this morning North Korea has promised to look at new weapons and cinnamon ask him all about that here on new year's day and your new year's day forecast is coming up next never give in never never never enough great oracle if you can figure it out on a Mortal stirred in tyre country base of certain today these words give each of us and courage to reach for our thank you and nine maybe I neighbor Rogers passed along friendship in his neighborhood hoping to say so let's get started from the foundation for a better life news dot com one who knows me knows how much I love Montgomery Andrea I live a lot of places let me tell you there's nothing like those original baby back ribs served with Montgomery and barbecue sauce will come from all over the world just to try lucky for us that Montgomery and goodness is right down the street you don't need a special occasion you don't even need a reason just over half a slab today at the original the boathouse Cincinnati's all Montgomery the undisputed is your family ready for cold and flu season knowing when it's the flu let you know when to call your doctor the flu brings a fever so be prepared with a thermometer you can trust the.