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Apr 17, 2024
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i think the market figured it as jay powell had said. it doesn't make sense the june cut given where inflation is right now. >> right now we see two sectors, utilities and also real estate. in your mind, what does that signal? it feels like days ago. i was a couple of weeks ago. everybody is talking about this broadening of the market and now we're seeing contraction. >> two sectors are real estate and utilities. you've got inflation, you've got a fed that can't be cutting interest rate sensitivity. that's not what you want on your equity exposure. you want companies participating the growth, and real estate and utilities don't do that. >> again, your w.e.x. word of the day is "premonetary," waiting for something bad to happen. you seem to be a boxing fan. you gave us notes, an old mike tyson quote. everybody is surprised until they get punched in the mouth. it had to be a bit of a surprise. what do you advise clients to do? >> i think you've got to have a plan to stuck to when you do get that pup. in the mouth. that's when it's difficul
i think the market figured it as jay powell had said. it doesn't make sense the june cut given where inflation is right now. >> right now we see two sectors, utilities and also real estate. in your mind, what does that signal? it feels like days ago. i was a couple of weeks ago. everybody is talking about this broadening of the market and now we're seeing contraction. >> two sectors are real estate and utilities. you've got inflation, you've got a fed that can't be cutting interest...
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Apr 4, 2024
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let's get back to the fed chair jay powell. yesterday signaling that policymakers will need clearer information of lower inflation before cutting interest rates. but he says the bump in prices recently hasn't altered the feds broader trajectory. >> let's bring in mark cranfield from bloomberg's mliv team now. mark, we saw treasury yields going through a bit of a round-trip yesterday. the hawkish comments from bostic sent yields higher. then you had powell a little dovish, sending front end yields lower, you also had the economic data feeding into the story. what market reaction could we see from the jobs data we have yet to come? >> if there is any big changes, we will see it in the foreign-exchange world. we are in a pretty interesting situation for the u.s. dollar. positioning-wise, traders are pretty long u.s. dollars, they have been for a few weeks, which is not surprising. we had a strong set of u.s. data. we have also had a fairly hawkish speakers from the federal reserve pushing back against early rate cuts. the jobs dat
let's get back to the fed chair jay powell. yesterday signaling that policymakers will need clearer information of lower inflation before cutting interest rates. but he says the bump in prices recently hasn't altered the feds broader trajectory. >> let's bring in mark cranfield from bloomberg's mliv team now. mark, we saw treasury yields going through a bit of a round-trip yesterday. the hawkish comments from bostic sent yields higher. then you had powell a little dovish, sending front...
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Apr 13, 2024
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it might be that jay powell thinks it's a danger to jay powell, because president trump told me in an interview in february that he would not reappoint jay powell. [laughter] >> that's right. but jay powell's there until 2026. at that point he's another one that's going to be 80 years old. at that point maybe it's time to step back anyway. to your point, yes, maybe he's also trying to protect himself for a potential third term at the fed. i'm not sure why he'd want to stay another term at the fed after, you know, what he's been through, but that's a whole other conversation. one way or the other, i do think that it's inpoint if -- inappropriate for the president to come out and say we're going to get in this rate cut. while it may be pushed off a month, i fully expect it to come. meanwhile, unless the data changes i don't see how the fed can convince everyone that it's necessary to cut rates and stimulate the economy when our economy is functioning on all 12 cylinders and is doing a very fine job are even with rates at 5.25%. which, by the way, you and i know are historically normal.
it might be that jay powell thinks it's a danger to jay powell, because president trump told me in an interview in february that he would not reappoint jay powell. [laughter] >> that's right. but jay powell's there until 2026. at that point he's another one that's going to be 80 years old. at that point maybe it's time to step back anyway. to your point, yes, maybe he's also trying to protect himself for a potential third term at the fed. i'm not sure why he'd want to stay another term at...
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maria: what is transitory when i asked about jay powell here is what he said. >> jay powell fed chairman is talking about a soft landing you do you believe we will see a soft landing. >> i think he is going to do something, to probably help the democrats, i think if he lowers interest rates but you have potential massive inflation again, because the middle east could drive up precise of energy he is not able to do anything but looks to me like trying to lower interest rates for the sake of maybe getting people elected i don't know. maria: you think political going to cut rates. >> i think he is political yeah. maria: would you reappoint jay powell? >> this no, i wouldn't do that. >> you wouldn't. >> no. maria: because? he missed inflation. >> he did miss but i wouldn't be -- >> that was february 4, joel, when president trump said inflation will reignite because of oil how this is playing out. adam: called it right then not many in february earning inflation would pick up. maria: president trump was. >> he called it right at that point, now i think you are seeing a lot more people on the
maria: what is transitory when i asked about jay powell here is what he said. >> jay powell fed chairman is talking about a soft landing you do you believe we will see a soft landing. >> i think he is going to do something, to probably help the democrats, i think if he lowers interest rates but you have potential massive inflation again, because the middle east could drive up precise of energy he is not able to do anything but looks to me like trying to lower interest rates for the...
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Apr 26, 2024
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did he speak with jay powell? is he messaging jay powell? why did he say that? >> if jay powell is taking directions from joe biden we're in a lot of trouble and the problem with inflation is not going to go away anytime soon. it will be with us in november and joe biden will pay for that. maria: yeah. brenda, have you changed the way you invest because inflation remains sticky, because its staying at elevated levels here and it's not -- nowhere near the fed's target of 2%? >> the last time we were talking before the march cpi i remember saying something to you specifically, that if we saw another high print after january, february, things would change and that's exactly what we've seen. we've seen the s&p off 5 and-a-half percent since the march highs. we have the 10 year at 4.7%. i do think the repricing of fixed income has happened. maybe we go up to 4.75 today. i don't think we'll see a pce number that we like but i do think that fundamentally we're going to see the 10 year fall to 3.8 by the end of the year. maria: seems unlikely to me too. brenda, great to
did he speak with jay powell? is he messaging jay powell? why did he say that? >> if jay powell is taking directions from joe biden we're in a lot of trouble and the problem with inflation is not going to go away anytime soon. it will be with us in november and joe biden will pay for that. maria: yeah. brenda, have you changed the way you invest because inflation remains sticky, because its staying at elevated levels here and it's not -- nowhere near the fed's target of 2%? >> the...
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breaking now, jay powell on the defensive. he spoke two hours ago as the fed deals with so many conflicting economic trends and there are concerns with the fed being too political. wait until you hear what powell had to say about that. learn the difference between hard and soft data, when will investors value value stocks? one year ago she gave you two stocks up 220% and 175%, one year ago today. find out where sarah kunst is buying right now. gen-z says they need 1.6 mil to retire in style. the good news they started early. the bad news, they ain't making much traction. here is the question, how much do you need to retire comfortably and tweet me @cvpayne. you don't want to hear my take on the wall street jobs report no matter what the print is on monday. all that and. more on "making money" ♪ charles: there has been a hesitant start to the quarter. this is monster first quarter. let's look at the first quarter one more time, put it in perspective. large cap u.s. stocks up almost 11%. commodities, all kinds of things that w
breaking now, jay powell on the defensive. he spoke two hours ago as the fed deals with so many conflicting economic trends and there are concerns with the fed being too political. wait until you hear what powell had to say about that. learn the difference between hard and soft data, when will investors value value stocks? one year ago she gave you two stocks up 220% and 175%, one year ago today. find out where sarah kunst is buying right now. gen-z says they need 1.6 mil to retire in style....
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Apr 10, 2024
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maria: president trump on jay powell. >> jay powell the fed chairman talking about a soft landing do you believe we will see a soft landing. >> well, i think he is going to do something, to probably help democrats, yeah. i think if he lowers interest rates. but you have the potential of having massive inflation again, because the middle east could drive up the price of energy he is not able to do anything, but looks to me like trying to lower interest rates for the sake of maybe -- getting people elected i don't know. maria: you think he is political going to cut rates -- >> i do i think he is political yeah. maria: would you reappoint jay powell? >> no, i wouldn't do that. >> because? >> he missed inflation. >> did miss he did miss no, i wouldn't be -- >> barry knapp your take on backdrop here, what jay powell needs to do. you know, we saw that jobs number the other day that everybody was celebrating 300 jobs created in march then started really zeroing in realized much job creation was part time, a lot of jobs given to foreign born not american citizens, so can we look at the jobs
maria: president trump on jay powell. >> jay powell the fed chairman talking about a soft landing do you believe we will see a soft landing. >> well, i think he is going to do something, to probably help democrats, yeah. i think if he lowers interest rates. but you have the potential of having massive inflation again, because the middle east could drive up the price of energy he is not able to do anything, but looks to me like trying to lower interest rates for the sake of maybe --...
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Apr 3, 2024
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at 5:10 p.m., we will hear from fed chair jay powell. coming up, president biden says israel is not doing enough to protect civilians in gaza after seven aid workers were killed in israeli airstrikes. more on that, next. this is bloomberg. ♪ lizzy: welcome back to "bloomberg daybreak: europe." we will get the latest on the geopolitical situation in the middle east. the human toll is the focus, the death of aid workers in gaza. has to be said the geopolitical risk is feeding into the oil price. we have seen immense action in the oil space. wti crude hitting $85 a barrel for the first time since october. currently trading at $85.18. brent at $89 a barrel as well. questions are flying as to whether this is because of geopolitical risk and china optimism, or whether it might be about falling inventories. i got a note yesterday from sab's commodities team pointing out not a single drop of oil has been lost to recent events in the middle east, except for some rerouting around africa. what you have is a tight market and a steadfast opec-plus.
at 5:10 p.m., we will hear from fed chair jay powell. coming up, president biden says israel is not doing enough to protect civilians in gaza after seven aid workers were killed in israeli airstrikes. more on that, next. this is bloomberg. ♪ lizzy: welcome back to "bloomberg daybreak: europe." we will get the latest on the geopolitical situation in the middle east. the human toll is the focus, the death of aid workers in gaza. has to be said the geopolitical risk is feeding into the...
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Apr 29, 2024
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how does jay powell process these two reports? obviously, the markets and the economy are two different things. >> i think jay powell made a good comment about talking about numbers. u.s. is a large economy. it doesn't mean it is a hot economy, it is just a large economy. the estimates are startlistartl. two years ago, they said was 941,000. now 3.3 million. that is clearly having an impact on the demand. you see supply is catching up, but when you have increased demand, supply has to catch up i still think that we are going to have a cut this year. >> you are saying it is not reliable >> it does give you reliable you saw the number insurance is going up. one goes up and the other goes down you have to look at the composed number if you are sitting down and thinking is inflation at 3.5 no do we go to the shop every day there is a measure and there is a measure. i think jay powell has to sit back and take notice he looked through the price increases on the good side and increased rates much higher. he will look again and do it late
how does jay powell process these two reports? obviously, the markets and the economy are two different things. >> i think jay powell made a good comment about talking about numbers. u.s. is a large economy. it doesn't mean it is a hot economy, it is just a large economy. the estimates are startlistartl. two years ago, they said was 941,000. now 3.3 million. that is clearly having an impact on the demand. you see supply is catching up, but when you have increased demand, supply has to...
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Apr 16, 2024
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it was the story of jay powell. we have spoken about the last mile of disinflation, whether it will take longer for the final stretch to get price pressures down to the target for the fed. not enough progress has been made. that is reflected through bond yields. we see them at year to date highs across the curve. the focus is on powell, speaking at a panel discussion alongside the bank of canada governor in washington. here is what he is saying about how much more patience is needed. >> we have said we will need greater confidence inflation is moving sustainably toward 2% before it would be appropriate to ease policy. we took that cautious approach and sought greater confidence to not overreact to the low inflation in the second half of last year. annabelle: for more, let's bring in sylvia jablonski, ceo / cio / co-founder, defiance etfs. sylvia: perhaps a little change of tune in the messaging from powell, but does it come as any surprise to you? i don't think his message is super different. the numbers came in une
it was the story of jay powell. we have spoken about the last mile of disinflation, whether it will take longer for the final stretch to get price pressures down to the target for the fed. not enough progress has been made. that is reflected through bond yields. we see them at year to date highs across the curve. the focus is on powell, speaking at a panel discussion alongside the bank of canada governor in washington. here is what he is saying about how much more patience is needed. >>...
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Apr 17, 2024
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we did hear jay powell reiterating the need for patients overnight. caution on the outlook for rate cuts as well given that the last mile of disinflation is proving to be very sticky to bring down. haidi: as long as needed was the wording that we had from jay powell. take a look at how u.s. futures are coming into the session. seeing a little bit of muted upside, about .1%. this is seen potentially as a shift in his message following a third straight month in which we saw the key measuring of inflation beating analyst forecasts. it also paints a picture of a fed that sees very little urgency to cut rates. any reductions could come relatively late in the year if at all. there are still some analysts seeing two to three rate cuts. coming up in the next hour, here why they believe chinese equity markets can trend higher even with its blemished economy. our markets coverage continues. the is next. ♪ >> more recent data shows solid growth in the labor market and a lack of further progress so far and returning to a 2% inflation goal.
we did hear jay powell reiterating the need for patients overnight. caution on the outlook for rate cuts as well given that the last mile of disinflation is proving to be very sticky to bring down. haidi: as long as needed was the wording that we had from jay powell. take a look at how u.s. futures are coming into the session. seeing a little bit of muted upside, about .1%. this is seen potentially as a shift in his message following a third straight month in which we saw the key measuring of...
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Apr 11, 2024
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why don't we start first with the fed chief, jay powell? here's a i go who doesn't get any credit for anything. he is the rodney dangerfield of central bankers. he's constantly being second-guessed, like he's clueless. that's just plain moronic. powell's a pragmatic individual who doesn't surrender to politics or orthodoxy. he's the least promotional public figure in america today. he had to deal with a once-in-a-lifetime pandemic which caused elected leaders to spend money like crazy. he accepted it. he never bemoaned it. when he realized the pandemic was under control he raised rates 11 times to stamp out inflation. each time inflation snapped back so he had to keep tightening. he realized there could be negative consequences if he didn't stop. that's right. we're now in a situation where inflation has cooled, cooled dramatically, even if it's still too high, and we also have an aband absurdly strong job market. it's just too strong to justify cutting rates. so it's time for powell to stand pap pat and see what happens. there's nothing wr
why don't we start first with the fed chief, jay powell? here's a i go who doesn't get any credit for anything. he is the rodney dangerfield of central bankers. he's constantly being second-guessed, like he's clueless. that's just plain moronic. powell's a pragmatic individual who doesn't surrender to politics or orthodoxy. he's the least promotional public figure in america today. he had to deal with a once-in-a-lifetime pandemic which caused elected leaders to spend money like crazy. he...
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Apr 17, 2024
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talk to us about the market reaction we had been hearing from jay powell. >> yes. you might wonder whether the market reaction had been a little more violent in the u.s. session. we did see higher bond yields. nothing too profound considering this is the fed chair shifting slightly his view. i think because so many of the fed policymakers have already put that same idea out there, it is not really a surprise to see that eventually. even looking at what the market is factoring in. as well as the relative calm in the u.s. markets, it has moved over the past 10 days, we have those much higher tertiary yields. it is the best of the world that is bearing the brunt of this in some ways. as some girls are talking about with the fx market in asia under pressure in recent days from the strength of the dollar. it is our currency your problem once again. >> the hammer blow of the strong u.s. dollar being felt across the u.s. market. how is the fx base holding up? >> holding up better with white a lot out there. i did think it was significant, this comment from south korea tha
talk to us about the market reaction we had been hearing from jay powell. >> yes. you might wonder whether the market reaction had been a little more violent in the u.s. session. we did see higher bond yields. nothing too profound considering this is the fed chair shifting slightly his view. i think because so many of the fed policymakers have already put that same idea out there, it is not really a surprise to see that eventually. even looking at what the market is factoring in. as well...
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Apr 17, 2024
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jay powell's thrown in the towel. there will not be any rate cuts this year because inflation is actually getting worse this year than it did last year. you talked about the border problem and law and order and the crime associated with it as mr. trump has. i got another one for you. joe biden on tax day, which was monday, as you know, joe biden decided that raising taxes is a much better economic growth and opportunity approach than cutting taxes. and says the trump tax cuts just benefited a few wealthy people. i thought it benefited almost every nook and cranny of the economy. now can the house do anything, you know, the kudlow catechism, the laffer catechism on supply-side tax cuts at least stir the pot, at least tickle just a little bit? i always thought lower taxes was a better idea than higher taxes, mr. speaker? >> yeah. you're trying to apply way too much common sense for washington. you know, larry, in the house republicans we have the smallest majority in u.s. history. one vote margin. we're using that becau
jay powell's thrown in the towel. there will not be any rate cuts this year because inflation is actually getting worse this year than it did last year. you talked about the border problem and law and order and the crime associated with it as mr. trump has. i got another one for you. joe biden on tax day, which was monday, as you know, joe biden decided that raising taxes is a much better economic growth and opportunity approach than cutting taxes. and says the trump tax cuts just benefited a...
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Apr 25, 2024
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>> you know, it is jay powell who has preempted what is coming he set the stage for higher for longer the fed funds futures have adjusted what has not adjusted is the broad multiple across the stock market and that is why you are seeing quite a bit of blood in the streets at moment. >> gina, thank you colorful language. blood that streets a lot of people are scratching their heads. gina, thank you. for more on what is driving the markets and trading day ahead, head to cnbc pro at cnbc.com/pro >>> coming up on "worldwide exchange," throw out the $50,000 price tags because at the beijing auto show, we very broad appeal that's where we find our eunice yoon >> reporter: thank you, frank. elon musk elonhoped to revisit e idea of the affordable ev. he is not the only one more in a few minutes. with gold and copper prices pushing towards all-time highs, u.s. gold corp is advancing its environmentally friendly gold and copper mining project and creating american jobs in mining friendly wyoming. with a proven management team and board, a tight share structure, and a solid cash balance, u.s. go
>> you know, it is jay powell who has preempted what is coming he set the stage for higher for longer the fed funds futures have adjusted what has not adjusted is the broad multiple across the stock market and that is why you are seeing quite a bit of blood in the streets at moment. >> gina, thank you colorful language. blood that streets a lot of people are scratching their heads. gina, thank you. for more on what is driving the markets and trading day ahead, head to cnbc pro at...
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Apr 29, 2024
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what does jay powell and the fed members are looking at here? >> they are seeing the service sector inflation is hanging out at 4% and has been since december and hasn't budged a lot of that is housing, we understand, but also underlinin the shortage of skilled labor. that is what the fed is talking about that may be alleviated if not alleviated, they will bring in rates with the tie supply the fed will not expect so much spending power with all of the job creation in the job market the market is focused on the payroll survey on friday which averaged $290,000 jobs per month. if you get the survey and the job creation is averaging 90,00 since january. the spending power generated by the job market may not be as strong in the past and not be as inflationary as people are afraid of here >> i want to stick with the job market for a minute. we looked at the downward revisions with the numbers we get the initial number and get revisions. i want to talk about services. up 4% year over year goods have not changed back in the pandemic, bill, goods inflat
what does jay powell and the fed members are looking at here? >> they are seeing the service sector inflation is hanging out at 4% and has been since december and hasn't budged a lot of that is housing, we understand, but also underlinin the shortage of skilled labor. that is what the fed is talking about that may be alleviated if not alleviated, they will bring in rates with the tie supply the fed will not expect so much spending power with all of the job creation in the job market the...
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Apr 29, 2024
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it's the korean won which has been sensitive to the actions of jay powell. were getting commentary from the likes of ocbc, jeffrey saying upside in dollar trade, count down to around 1335 per dollar by december. better demand, that is improving and also they start of the easing cycle adding to appeal. for equity markets it will be trade or read through from big tech earnings. we had microsoft, alphabet really impressing because the takeaway was they are spending on ai and cloud, that's paying off. best week for u.s. stocks in 2024. still farmer. haidi: of course potential expectation of a hawkish pivot and how that plays into asian central banks and economies. in the last leg of the cycle, the open, a couple of minutes into cash trading coming online in a staggered open. upside when it comes to sydney stocks. watching treasuries as well, expecting dollar and yields to get a lift higher. ozzie bonds following that trajectory. dollar is holding. against the backdrop of dollar strength, most other asian currencies, brent crude is holding the decline, u.s. stepp
it's the korean won which has been sensitive to the actions of jay powell. were getting commentary from the likes of ocbc, jeffrey saying upside in dollar trade, count down to around 1335 per dollar by december. better demand, that is improving and also they start of the easing cycle adding to appeal. for equity markets it will be trade or read through from big tech earnings. we had microsoft, alphabet really impressing because the takeaway was they are spending on ai and cloud, that's paying...
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Apr 4, 2024
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we've got a lot of fed speak coming up that will add to what jay powell has said. we have seven fed speakers today. we have six more tomorrow. if you don't know what the open market committee is thinking, you should by tomorrow night or have a good idea of where we are going. i would imagine it will echo the jay powell who says we are not ready yet but maybe later this year. they will talk about the employment numbers and the inflation rates and we get a lot of that between now and the june meeting with may be the first rate cut if things go their way. we've got three made just labor market reports and three cpi reports into pce report so keep an eye on the data and we will have to see what ends up happening. caroline: whether we listen to the rap file bostick's or get more dovish from some of the other players. i'm interested in what's happening more broadly with the economic perspective of the u.s. economy when we look at the jobs number coming out tomorrow. how much do we think that might be a risk on/risk off moment? mike: probably not huge risk off unless we g
we've got a lot of fed speak coming up that will add to what jay powell has said. we have seven fed speakers today. we have six more tomorrow. if you don't know what the open market committee is thinking, you should by tomorrow night or have a good idea of where we are going. i would imagine it will echo the jay powell who says we are not ready yet but maybe later this year. they will talk about the employment numbers and the inflation rates and we get a lot of that between now and the june...
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Apr 17, 2024
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jonathan: the quote for me yesterday did not come from jay powell. it came from the vice chair, philip jefferson. i will share it with you now, the base outlook is that inflation will decline further with the policy rate hub steady at its current level. at the current level. our old friend pk would say extending the x-axis. on time and taking longer. lisa: and what you have now in markets, it's time. remember yesterday, what if the fed chair came out and said he was hopeful and not confident? that's the subtext, they are hopeful and not confident, the reason they are holding it higher for longer and right now the market is trying to come to terms with that. annmarie: i got that sense as well, that we are expecting the confidence to come with more data. john, you mentioned the timeline, that makes me think this is political. if they need more time, there's only a certain number of meetings and data points left before it becomes unfathomable. jonathan: let's talk about the politics. joe biden calling for higher tariffs on chinese steel. this from lael
jonathan: the quote for me yesterday did not come from jay powell. it came from the vice chair, philip jefferson. i will share it with you now, the base outlook is that inflation will decline further with the policy rate hub steady at its current level. at the current level. our old friend pk would say extending the x-axis. on time and taking longer. lisa: and what you have now in markets, it's time. remember yesterday, what if the fed chair came out and said he was hopeful and not confident?...
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Apr 29, 2024
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jay powell wants to keep his job. i'll say it. as blatant as can be. what he is probably waiting for, as we get closer to elections -- charles: wouldn't it be transparent with inflation going in the wrong direction? i, to your point, couple of fomc meetings ago he talked about a surprise jobs report, he mentioned it a couple times. i think he was looking for that to be his cue. 4.1%, that would be his excuse. if he does this without any sort of real trigger, golly. >> i think we will see a trigger because the market, charles, it really has climbed too far too fast and money is expensive now and you and i know what happens when money gets expensive and those credit card bills are piling up and people start having to sell down on their stocks and, so much of the market has been propped up by the vcs and by new companies and once they start going under, they were, jerome powell will have his excuse. he doesn't have to worry about inflation, even though inflation is real and inflation continues to plague us. charles: he said on many occasions listen, we do
jay powell wants to keep his job. i'll say it. as blatant as can be. what he is probably waiting for, as we get closer to elections -- charles: wouldn't it be transparent with inflation going in the wrong direction? i, to your point, couple of fomc meetings ago he talked about a surprise jobs report, he mentioned it a couple times. i think he was looking for that to be his cue. 4.1%, that would be his excuse. if he does this without any sort of real trigger, golly. >> i think we will see...
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Apr 17, 2024
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jay powell now saying rates may be higher for longer. things don't always go according to plan. i love this cartoon from "the new yorker." it illustrates what all investors are hoping for, it reads first goldilocks said the interest rates were too high. then goldilocks said they were too low. in agreement with the federal reserve board, she finally said they were just right. you know what the original story of gold city locks, i guarranty you never heard it. eleanor wrote this story of the three bears in 1831. they were all males, none of them were related, just three friends who fancy a home amongst the dwellings of men. goldilocks by the way was not a young girl. she was an older lady. the bears did not try to satisfy her when she broke into her house. they punished her in variety of gruesome ways, before chucking her off a church steeple. those bears were a nasty bunch. even now although, also a frustrating thing for everyone to even think about this goldilocks scenario. yesterday, jay powell stepped up, he made sure as he was tampering our expectations for cuts to point out
jay powell now saying rates may be higher for longer. things don't always go according to plan. i love this cartoon from "the new yorker." it illustrates what all investors are hoping for, it reads first goldilocks said the interest rates were too high. then goldilocks said they were too low. in agreement with the federal reserve board, she finally said they were just right. you know what the original story of gold city locks, i guarranty you never heard it. eleanor wrote this story...
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Apr 3, 2024
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jay powell's q&a following his remarks. we'll get to that in a moment they have aussie $a bit of a bep fishery from rare u.s. dollar weakness, 65.66 at the moment. let's take a look at how we're doing for japan. futures right now a little bit negative territory. not really by much. the yen didn't weak p much as a result of dollar strength. that's still hovering around the 151-152 level. a little weakness in new zealand in the early going. crude prices in focus. we did have -- crude prices rising at the moment. opec didn't make any change to output curves, that was very much as expected. of course middle east tension and ukraine attacks all keeping those oil prices. haidi: let's look at u.s. futures at the moment we had the reaction to what we heard from fed chair powell. futures looking optimistic, in positive territory at the moment when it comes to small growth related names on the nasdaq 100 in futures trading. it was a volatile last hour of trading on wall street. eventually regaining their footing to go higher. paul me
jay powell's q&a following his remarks. we'll get to that in a moment they have aussie $a bit of a bep fishery from rare u.s. dollar weakness, 65.66 at the moment. let's take a look at how we're doing for japan. futures right now a little bit negative territory. not really by much. the yen didn't weak p much as a result of dollar strength. that's still hovering around the 151-152 level. a little weakness in new zealand in the early going. crude prices in focus. we did have -- crude prices...
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Apr 30, 2024
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if we see a dovish jay powell, that means it will decline. why do you want to invest in t.i.f.s right now? >> it is not that i think the rate of inflation is going to come down. we are stuck in the new normal of 3%. the fed cut the 2% mandate. the reason i like t.i.f.s, it is a risk in the economy. we are seeing a ton of metrics that the bite is working. they are defaulting on auto and credit cards and recently housing. higher rates are working. there's always the risk that if the fed continues, the consumer continues strong and the bite of higher inflation erodes the value of treasuries. >> okay. the fed has a big influence on the global investing environment. you say when it comes to equities, you like international stocks over u.s. names. is there a certain region you like? >> it is more about the moat of underlining economy. we see a belief the consumer in the u.s. continues to be resilient. if you look international, starting valuations are more interesting as well as dividends. it pays to pay a risk. you are paid to take risks. >> all r
if we see a dovish jay powell, that means it will decline. why do you want to invest in t.i.f.s right now? >> it is not that i think the rate of inflation is going to come down. we are stuck in the new normal of 3%. the fed cut the 2% mandate. the reason i like t.i.f.s, it is a risk in the economy. we are seeing a ton of metrics that the bite is working. they are defaulting on auto and credit cards and recently housing. higher rates are working. there's always the risk that if the fed...
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Apr 28, 2024
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bloomberg economics expects jay powell to dampen help of a cut. the job reports will show payroll growth slowing to do hundred thousand this month after surging by over 300,000 in march. in asia, april pmi's they're probably edged lower after surges in march and japan will release a slew of eco data after the boj left rates unchanged. looking at the results from all four chinese megabanks of this monday. bloomberg's intelligence is earnings persisting there even if the banks avoid a part. hsbc, standard charter releasing results this week. we are also waiting for earnings from the magnificent seven stocks, apple, amazon reporting after mixed results last week from their peers. samsung's results to out after preliminary numbers showed a sharp profit rebound in the first quarter, and vanke will be reporting. that is your week ahead. annabelle: a lot for investors to be digesting over the coming days, but let's get golf with one of the key events on the calendar, and that is the fed meeting wrapping this week and bring in andrew tilton. he joins us n
bloomberg economics expects jay powell to dampen help of a cut. the job reports will show payroll growth slowing to do hundred thousand this month after surging by over 300,000 in march. in asia, april pmi's they're probably edged lower after surges in march and japan will release a slew of eco data after the boj left rates unchanged. looking at the results from all four chinese megabanks of this monday. bloomberg's intelligence is earnings persisting there even if the banks avoid a part. hsbc,...
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Apr 4, 2024
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jon: fed chair jay powell signaling patients as the central bank awaits more data. jobless claims setting the stage for tomorrow's main event, the payroll event. "the jobs report will hold the most sway, particularly as the labor market looks to be gaining momentum once again." another solid pace of hiring looking to rise payrolls. the bloomberg survey calling for slightly lower print of 213. we are going to now for more. jennifer, that's get into the labor market data on friday. are you expecting that come with hotter inflation, hotter wage growth? jennifer: thank you for having me on. that will probably be the most critical piece of data we will be looking for in that report the average hourly wages. especially last friday with the wages and salaries, the personal spending report that was up .8% which was a shocker to yours truly. we will see how that pans out with the earnings numbers and the jobs report. obviously, if looking for something with a bit of a hotter number, that is going to put more fed dovish into play. lisa: do you put more weight on the 10% figur
jon: fed chair jay powell signaling patients as the central bank awaits more data. jobless claims setting the stage for tomorrow's main event, the payroll event. "the jobs report will hold the most sway, particularly as the labor market looks to be gaining momentum once again." another solid pace of hiring looking to rise payrolls. the bloomberg survey calling for slightly lower print of 213. we are going to now for more. jennifer, that's get into the labor market data on friday. are...
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jay powell signaled the base case remains, three rate cuts are coming, beginning in june. watch this. >> these recent data do not, however, materially change the overall picture which continues to be one of solid growth, a strong but rebalancing labor market and inflation moving down toward 2% on a sometimes bump hey path. it's too soon to say whether the recent readings represent more than just a bump. we do not expect it will be appropriate to lower our policy rate until we have greater confidence that inflation is moving sustainably down toward 2%. my colleagues and i continue to believe that the policy rate is likely at its peak for this tightening cycle. if t the economy evolves broadl, most see it likely as appropriate to begin lower the policy rate some point this year. maria: joining me is chief investment officer chris zakarelli. what did you take away from powell's comments yesterday? >> i think powell's comments were really interesting. we've had some higher than expected inflation day data so r this year, to call into question whether or not we get the rate cut
jay powell signaled the base case remains, three rate cuts are coming, beginning in june. watch this. >> these recent data do not, however, materially change the overall picture which continues to be one of solid growth, a strong but rebalancing labor market and inflation moving down toward 2% on a sometimes bump hey path. it's too soon to say whether the recent readings represent more than just a bump. we do not expect it will be appropriate to lower our policy rate until we have greater...
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Apr 11, 2024
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powell? anybody else, if trump said that, he would be attacked for trying to sway fed in a certain way, i spoke with james grant yesterday jim grant basically said sure fed is political they are going to do what democrats want. >> i believe the fed itself regardless of potential second term for donald trump is a clear and present danger to our country. >> is politically very much aligned with democratic party i think the fed would you tell us even perhaps revising it is doing something, in the way of a political move would be inclined to read the numbers, and in an interest rate reduction positive way in back of mind threat of another trump presidency. >> there you go, larry do you think the fed gets political cuts rates this year before the election? >> well, most likely, um, think about the bank system, so something very unusual happened yesterday. exxonmobil history all-time high on the same day the bank index is 33% drawdown. i mean, you've got to go back historically that is a very i mea
powell? anybody else, if trump said that, he would be attacked for trying to sway fed in a certain way, i spoke with james grant yesterday jim grant basically said sure fed is political they are going to do what democrats want. >> i believe the fed itself regardless of potential second term for donald trump is a clear and present danger to our country. >> is politically very much aligned with democratic party i think the fed would you tell us even perhaps revising it is doing...
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Apr 30, 2024
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investors are anticipateing jay powell's remarks on inflation and the economy to set the tone for rate cuts down the line. more earnings on the way this morning as well. dow components coca-cola, 3m and mcdonald's out ahead of amazon after the close tonight, apple is out on thu thursday. everything you need to know coming up. european markets are mixed. we have gains in london with the ft 100 up 32, cac quarante and dax negative. in asia markets finished mostly higher. bbest performer was japan,one d. president trump's trial continues this morning. he is planning on campaign events in wisconsin and michigan as the white house tries to play down trump beating biden or neck in neck some states. joining us this morning, mark tepper, joe pinion and fox business' cheryl casone. "mornings with maria" is live right now. ♪ out of my dreams. ♪ get into my car. ♪ get out of my dreams. ♪ get in the back seat, baby. ♪ get into my car. maria: and it is time for the hot topic of the hour. a new harvard poll finds former president trump is the frontrunner in a race between president biden a
investors are anticipateing jay powell's remarks on inflation and the economy to set the tone for rate cuts down the line. more earnings on the way this morning as well. dow components coca-cola, 3m and mcdonald's out ahead of amazon after the close tonight, apple is out on thu thursday. everything you need to know coming up. european markets are mixed. we have gains in london with the ft 100 up 32, cac quarante and dax negative. in asia markets finished mostly higher. bbest performer was...
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i will give you the jay powell quote and let the data give the rebuttal. powell said monetary policy is tight, but look at this, financial conditions are looser now than before they were when the fed started hiking rates. powell said this, too soon, it is too soon to say if recent inflation data is more than a bump. look, this couldn't be clearer, friends, inflation data has been going up since october. powell also said inflation wasn't strictly from demand overheating but look at the government goosing demand from the fed printing other central banks. here is the other, this is us. this is the rest of the world. we are definitely outprinting them. and the last one, powell says i do think monetary poll is working. however even darden restaurants is seeing lower income. diners stay at home. they're saying, hey, we're seeing consumer behavior shifts. that's wall street ease, oops, something is going wrong. charles, back to you. charles: i read that, gerri, families at 150,000 eating at longhorn steakhouse. if you make less than 75,000, you can't afford anymo
i will give you the jay powell quote and let the data give the rebuttal. powell said monetary policy is tight, but look at this, financial conditions are looser now than before they were when the fed started hiking rates. powell said this, too soon, it is too soon to say if recent inflation data is more than a bump. look, this couldn't be clearer, friends, inflation data has been going up since october. powell also said inflation wasn't strictly from demand overheating but look at the...
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Apr 3, 2024
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i would love to hear that from jay powell. jonathan: are you willing to trade financial stability for price stability? is that the question? lisa: that could be one of them. are you willing to trade blowing out pockets of the population and reducing their chances for employment and wealth and prosperity in order to target a certain inflation target? i don't know the answer but this is a socially conscious issue and that is weighing on them at a time when it seems like things are being pretty positive and we seem to be talking leaving the rates where they are. jonathan: equity futures are negative by 0.25% on the s&p 500. here is your bloomberg brief. >> inflation in europe is inching toward 2%, firming up prospects of a june rate cut at the ecb. consumer prices rising 2.4% in march, lower rate than analysts forecast and down from 2.6% in february. cpi also eased at a faster rate than expected. the ecb president christine lagarde has signaled a first rate cut in june with much of the central bank's governing council on board wi
i would love to hear that from jay powell. jonathan: are you willing to trade financial stability for price stability? is that the question? lisa: that could be one of them. are you willing to trade blowing out pockets of the population and reducing their chances for employment and wealth and prosperity in order to target a certain inflation target? i don't know the answer but this is a socially conscious issue and that is weighing on them at a time when it seems like things are being pretty...
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Apr 25, 2024
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powell, talk jay powell, force him into rate cuts. you know we know that's a scary path but president biden mentioned cuts more often, i was kind of surprised how much he has mentioned cuts recently? >> well he did mention it in a speech. i thought well that its just going to be such good news to the fed that they won't have to raise and they're going to probably end up lowering. we've seen the fed restating, no, no, we're very, we're very resistent to that and that doesn't play any role in our thinking, but i can't believe the fed isn't sensitive to the possibility if they cut-rates it will be seen as political. because now they have, well it is always been the dual mandate but now you have dueling mandates because now the fed, that was looking to cut might be able to say, well, it's not that inflation has come down the way we like but look, if the economy is going off the cliff, then that would be a reason to support the economy to cut. charles: right. >> but i would be very reluctant to do that, unless they see, maybe the second qu
powell, talk jay powell, force him into rate cuts. you know we know that's a scary path but president biden mentioned cuts more often, i was kind of surprised how much he has mentioned cuts recently? >> well he did mention it in a speech. i thought well that its just going to be such good news to the fed that they won't have to raise and they're going to probably end up lowering. we've seen the fed restating, no, no, we're very, we're very resistent to that and that doesn't play any role...
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Apr 12, 2024
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i tell you what, that's a hell of -- it's so ironic that jay powell comes out with three rate cuts in november, and inflation reads have gone straight the up since then. the credibility part gets weaker and weaker every day. jim, love seeing you, my man. thank you so much. >>> all right, folks, you can see on the screen all the major indices are down, and, of course, we want to look at the nasdaq as a well because the nasdaq is really what's carried us, right? that's the home of these magnificent, amazing companies, amazing stocks. and i gotta tell you with something, if they start to falter because they've carried the s&p, but they certainly have carried nasdaq as well, maybe we are in a lot of trouble. i want to to bring in simplify asset management mike green. i want the start with your note on tech stocks, all right? is. [laughter] and it's a little bit scary here, sticking with the ghostbusters theme. so tech stock growth is going to get destroyed when rates move higher. that's scary. >> well, that is scare ally, but it's actually kind of an ironic tweet. so the concern that peop
i tell you what, that's a hell of -- it's so ironic that jay powell comes out with three rate cuts in november, and inflation reads have gone straight the up since then. the credibility part gets weaker and weaker every day. jim, love seeing you, my man. thank you so much. >>> all right, folks, you can see on the screen all the major indices are down, and, of course, we want to look at the nasdaq as a well because the nasdaq is really what's carried us, right? that's the home of these...
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Apr 12, 2024
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we heard from jay powell, basically two and then one and some are saying none. markets don't like uncertainty and that is what we are seeing in the indices. it is their it is there reflection of uncertainty. neil: leave it to a thin guy to make diet analogies but i will let them go. let me get your take on what he is saying and what austen goolsbee is saying good, the latest economic numbers and instability around the globe and the run up in oil prices put them on pause. >> peter nailed one thing correctly, there were 25 >>s by central bakers all contradicting each other. my biggest worry is they think they are the economy, the central bankers, that they can move 1/4 point and affect inflation. the economy is $25 trillion, 150 million of us go to work trying to do better for our sons and our families. that drives the bus and i think they think too much and one thing that has not been mentioned and i think this is huge and that is the size of government in the sevens in 5 years and all of it is debt. that is inflationary and if that isn't worrisome, worrisome for
we heard from jay powell, basically two and then one and some are saying none. markets don't like uncertainty and that is what we are seeing in the indices. it is their it is there reflection of uncertainty. neil: leave it to a thin guy to make diet analogies but i will let them go. let me get your take on what he is saying and what austen goolsbee is saying good, the latest economic numbers and instability around the globe and the run up in oil prices put them on pause. >> peter nailed...
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Apr 26, 2024
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obviously he had no love for jay powell when he was in office. it is plausible. but the idea the president should participate in any kind of monetary policymaking would really upset wall street. because then you bring in the idea of politics. you look at what happened in turkey, when erdogan decided where interest rates should go. it is probably a nonstarter. but as with just about anything donald trump, you cannot be sure. sonali: thank you for keeping an eye on the possibilities on what is ahead. we will talk more about the inflation data. wells fargo's senior economist joins me now. if you look at what we got this morning, did anything make you think differently of how you think the bond market can progress from here? >> i think what we learned today is may be inflation in the first quarter was not quite as bad as feared, in terms of momentum picking up in march. we saw in terms of why the q1 numbers came in so much hotter yesterday. it was really more a function of january inflation being revised higher. there is good news, we did not see a big pickup and mom
obviously he had no love for jay powell when he was in office. it is plausible. but the idea the president should participate in any kind of monetary policymaking would really upset wall street. because then you bring in the idea of politics. you look at what happened in turkey, when erdogan decided where interest rates should go. it is probably a nonstarter. but as with just about anything donald trump, you cannot be sure. sonali: thank you for keeping an eye on the possibilities on what is...
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Apr 26, 2024
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it felt like jay powell in april should t shut the door on that. >> there is still a small chance it could happen. the market pricing is suggests it will be later it comes at 2.8% and we perhaps get a july cut >> i want to talk about the magnificent seven mega cap tech. we got reports from microsoft and alphabet a lot of concentration in the m market with the risk of the burst. investors have confidence in the companies. going forward, do you see the magnificent seven trade being something that continues to power the market or are we going to see rotation? >> a good question of course, it is not a bubble if it is underpinned by the fundamentals our philosophy is the area is another trigger catalyst for the direction of the equity market moving forward our view and models with pricing for eps has been suggesting that the u.s. market and especially big tech and growth companies have been priced for perfection. that means the bar to satisfy the markets is quite high. in terms of europe, the market is more fairly priced. if reports come in line with the analysts, it is okay for the u.s.,
it felt like jay powell in april should t shut the door on that. >> there is still a small chance it could happen. the market pricing is suggests it will be later it comes at 2.8% and we perhaps get a july cut >> i want to talk about the magnificent seven mega cap tech. we got reports from microsoft and alphabet a lot of concentration in the m market with the risk of the burst. investors have confidence in the companies. going forward, do you see the magnificent seven trade being...
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Apr 4, 2024
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we also had the chance to hear from the chair of the federal reserve jay powell. he said more data is needed for the fed to decide to cut interest rates. citing higher than expected readings on jobs gains and inflation. powell said the inflation has not changed his view if inflation is moving to the 2% par target. we heard from a slew of fed policymakers yesterday as investors remain split on whether the central bank will cut rates at the june meeting. one of the fmoc's hawkish members, atlanta fed president raphael bostic said he now expects a single rate cut this year. >> if the economy evolving as i expect and it will be continued gdp robustness and employment and slow decline of inflation through the year, it will be appropriate for us to move down at the end of the year in the fourth quarter. >> i want to take you to the market action this morning. equities have been trading for about an hour. at this stage, the narrative seems to be where do we go from here? how do we price in all of the comments from the central bankers and more particularly, whether we wil
we also had the chance to hear from the chair of the federal reserve jay powell. he said more data is needed for the fed to decide to cut interest rates. citing higher than expected readings on jobs gains and inflation. powell said the inflation has not changed his view if inflation is moving to the 2% par target. we heard from a slew of fed policymakers yesterday as investors remain split on whether the central bank will cut rates at the june meeting. one of the fmoc's hawkish members, atlanta...
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so see you've got two catalysts, jay powell speaking today. we'll see what he says. we've got the next cpi number out next wednesday on the tenth. what are your expectations for the two catalysts, what do we hear today from powell? let's start there. >> i think powell is going to say the same as what he's been saying. to me, he's very transparent. i like listening to what he has to say. i think he'll talk about being data dependent but inflation is going in the right direction and so i wouldn't be too surprised even though the futures market has come down on a chance for a cut that we do get one in june. the best case scenario is that we get inflation data prior to that to allow the fed to cut. not that i don't think the econn sustain the rates for longer but i think companies can plan to be more aggressive in the second half of the year if that's the case which will spur on investment and spur on the economy here in the united states. we've got a recovery in china that's helping out a bit. i know you're talking about that a lot. but we've got from an economic standp
so see you've got two catalysts, jay powell speaking today. we'll see what he says. we've got the next cpi number out next wednesday on the tenth. what are your expectations for the two catalysts, what do we hear today from powell? let's start there. >> i think powell is going to say the same as what he's been saying. to me, he's very transparent. i like listening to what he has to say. i think he'll talk about being data dependent but inflation is going in the right direction and so i...
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Apr 16, 2024
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yielding 4.63 it is worth knowing we will hear from the chairman of the fed reserve jay powell later today we are monitoring a diversion with the u.s. bond yields and european bond yields we are seeing a bit of divergence there it is is worth keeping in mind e expectations for the fed and the ecb which are different at this stage. when it comes to other u.s. futures, i wanted to take a quick look at what is happening there. they are pointing to a mixed open on wall street and worth remembering that retail sales data yesterday have put some pressure on the equity space we saw all of the major indices st stateside in the red, frank. >> futures are a bit mixed after a selloff in the u.s one factor is u.s. retail sales were above expectations in march. it jumped 0.7% from the month previous february's monthly growth figure was revised higher to 0.9% which was up from 0.6% a 50% increase right there the chief u.s. economist at jpmorgan chase said the data has not changed the lender's house view and when the fed will begin cuts. >> we still have them cutting in july, but if it is tough and
yielding 4.63 it is worth knowing we will hear from the chairman of the fed reserve jay powell later today we are monitoring a diversion with the u.s. bond yields and european bond yields we are seeing a bit of divergence there it is is worth keeping in mind e expectations for the fed and the ecb which are different at this stage. when it comes to other u.s. futures, i wanted to take a quick look at what is happening there. they are pointing to a mixed open on wall street and worth remembering...
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Apr 30, 2024
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not expecting a decision, but jay powell's comments are watched closely. we hear european leaders say it is time for a diffivergence wit the fed. thank you, silvia. >>> take a look at shares of hsbc up over 2%. we are getting news that noel quinn is retiring. that is a surprise departure and said the formal process to find a successor is already under way. quinn took over at hsbc in march of 2020 steering the bank through the pandemic and rise in interest rates. hsbc posted a pre-tax profit of $12.7 billion. shares up 2%. the profit in the first three months of the year was ahead of estimates, but slightly down on the year. >>> santander saw net interest income grow by 18% on the year to the highest level at 11.98 billion euro. charlotte has more on the earnings report. >> thank you, frank. you were saying the result was below expectations for santander. they are on track to meet the 2024 target with the single digit growth revenue this year and return of tangible equity up 16%. it is 14.9% in the first quarter. looking at the different parts with the geog
not expecting a decision, but jay powell's comments are watched closely. we hear european leaders say it is time for a diffivergence wit the fed. thank you, silvia. >>> take a look at shares of hsbc up over 2%. we are getting news that noel quinn is retiring. that is a surprise departure and said the formal process to find a successor is already under way. quinn took over at hsbc in march of 2020 steering the bank through the pandemic and rise in interest rates. hsbc posted a pre-tax...
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Apr 30, 2024
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we'll hear from jay powell tomorrow. investors anticipating the the decision tomorrow setting the taupe for potential rate cuts down the line but when and if, we're not sure. joining me now is piper sandler's chief global economist, nancy lazar. nancy, great to see you. >> good morning. maria: by the way, nick timiraos is out with a piece this morn if or,s -- morning, and the title is the fed will signal it has the stomach to keep rates high for longer. your expectations from the federal reserve in this 2-day meeting, today and and tomorrow? >> i'm very glad to hear him say that. this is not a time to be cutting interest rates. i have also indicated financial conditions right now too easy suggesting, if anything, the rate structure could be too low. and so the question is why, and that's because as we've called it, legacy liquidity is still in the hands of the private sector. that is the lag effects of the massive monetary stimulus and the still ongoing, huge budget deficit is supporting corporate revenue which is keepin
we'll hear from jay powell tomorrow. investors anticipating the the decision tomorrow setting the taupe for potential rate cuts down the line but when and if, we're not sure. joining me now is piper sandler's chief global economist, nancy lazar. nancy, great to see you. >> good morning. maria: by the way, nick timiraos is out with a piece this morn if or,s -- morning, and the title is the fed will signal it has the stomach to keep rates high for longer. your expectations from the federal...
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Apr 17, 2024
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maria: i noticed jay powell says overtime, overtime, will get to the target overtime. he is signaling it almost feels like he is recognizing he's not going to get to 2% anytime soon on inflation, what are your thoughts on the feds moves. >> yesterday was a step in the wrong direction in terms of the feds policy. it looks as if the fed is starting to guide for hire for longer but the reality and the perspective of asset leases kowtowing to physical dominance this is a fed that is going to accept implicitly is accepting much higher than 2% inflation that's likely to do that for quite a while. maria: what will that mean for rates is there a chance that he hikes rates were three rate cuts off the table in your view. >> would you look at 100 years of data whatever the monetary authority of physical dominance that the structurally bullish dynamic for at-risk assets stock, credit and parish dynamic for the bond market. i think that's exactly what we saw this far throughout 2024. maria: kowtowing toward fiscal policy accepted the fact that this buddy discontinuing it inflation
maria: i noticed jay powell says overtime, overtime, will get to the target overtime. he is signaling it almost feels like he is recognizing he's not going to get to 2% anytime soon on inflation, what are your thoughts on the feds moves. >> yesterday was a step in the wrong direction in terms of the feds policy. it looks as if the fed is starting to guide for hire for longer but the reality and the perspective of asset leases kowtowing to physical dominance this is a fed that is going to...
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Apr 11, 2024
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did he speak to jay powell? >> i think this issue will continue to haunt him, inflation as well as every single major issue that faces american people, whether it's gas prices, whether it's insurance. they know they're not better off than they were three and-a-half years ago. so the fact that keeps talking and running on bidenomics for republicans i'm like keep saying that because everyone's go goino hang it around your neck. maria: if trump was saying we're going to have a rate cut and it's going to be a month delayed. the mainstream would be all over him. how does know specifics about a rate cut. you're not supposed to be colluding with the federal reserve. there's many people who think the fed will be political and cut rates to help joe biden. >> i don't know why we're talking about rate cuts. if the economy is as strong as this biden administration wants everyone to believe, if inflation is re accelerating, there's no need for a rate cut. the only need for a rate cut at that point in time would be for purely
did he speak to jay powell? >> i think this issue will continue to haunt him, inflation as well as every single major issue that faces american people, whether it's gas prices, whether it's insurance. they know they're not better off than they were three and-a-half years ago. so the fact that keeps talking and running on bidenomics for republicans i'm like keep saying that because everyone's go goino hang it around your neck. maria: if trump was saying we're going to have a rate cut and...
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Apr 16, 2024
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this as we prepare to hear from fed chair jay powell and we'll bring you headlines as to where to find opportunities across stocks, bonds, and commodities. plus, office vacancy rates hitting a new 20-year high. we'll look at the reits setup and the potential winners and losers into earnings, this aztec layoffs continue to pressure that sector. >>> housing starts posting the biggest drop in four years, but there is one name better insulated and better positioned to reap the benefits once rates start dropping, according to jefferies. the analyst behind that call is here to make his case. but we begin with dom chu with the numbers. >> trying to recover from that selloff over the course of the last few days, shorter term. right now, we're just about unchanged in the market. the broader s&p 500 is at 5060. it's down about one to two points, so flat on the session right now. at the highs, up a modest eight points on the s&p and down 21 points at the lows. so, again, the middle of that trading range. a level that we were watching before still remains around 5116, 5115. on the upside, that is
this as we prepare to hear from fed chair jay powell and we'll bring you headlines as to where to find opportunities across stocks, bonds, and commodities. plus, office vacancy rates hitting a new 20-year high. we'll look at the reits setup and the potential winners and losers into earnings, this aztec layoffs continue to pressure that sector. >>> housing starts posting the biggest drop in four years, but there is one name better insulated and better positioned to reap the benefits...
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Apr 17, 2024
04/24
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jay powell signaling rates will be higher for longer if inflation persists. here he is. watch. >> we said that we'll need greater confidence that inflation is moving sustainably toward 2% before the appropriate to ease policy. the recent data have not given us greater confidence and instead indicate that it's likely to take longer than expected to achieve that confidence. that said, we think policy is well positioned to handle the risks that we face, if be the higher inflation does persist we can maintain the current level of restriction for as long as needed. maria: your reaction, ryan? >> be the it's not broke, don't fix it. i think that's what you're seeing right now. look, we've had -- blew my mind but we saw the gdp number come in for the quarter, the atlanta fed at 2.8% for the first quarter, that's phenomenal gdp growth, better than last decade, that's for sure. we saw retail sales number on monday was better than expected. people are spending money. employment markets is hot. the other wild card is oil prices are up 20% this year, i think that's problematic. i th
jay powell signaling rates will be higher for longer if inflation persists. here he is. watch. >> we said that we'll need greater confidence that inflation is moving sustainably toward 2% before the appropriate to ease policy. the recent data have not given us greater confidence and instead indicate that it's likely to take longer than expected to achieve that confidence. that said, we think policy is well positioned to handle the risks that we face, if be the higher inflation does...
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Apr 3, 2024
04/24
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what got your attention in terms of newsmaking headlines today from jay powell? enda: he is saying we are not totally sold inflation is back where it should be. he did not hand they will cut rates anytime soon. as kaylee was saying, he made the point that when you look back now a lot of inflation was because there was such a shortage of everything. you could not get semiconductors or workers. he is making the point that that is being unwound now and helping things. there is a political debate. a lot of people say the current administration is spending too much money. joe: you are that every day. enda: those concerns might resurface overtime. there is nothing new from rates on a homeowners listing but more expensive thinking about a broader economy. kailey: on the supply side he was questions about whether the fed's monetary policy tool of using interest rates to influence the economy was working to the same extent considering the growth we have seen. he brought that baptism five. he said -- rot that back to supply trade he said monetary policy is broadly working
what got your attention in terms of newsmaking headlines today from jay powell? enda: he is saying we are not totally sold inflation is back where it should be. he did not hand they will cut rates anytime soon. as kaylee was saying, he made the point that when you look back now a lot of inflation was because there was such a shortage of everything. you could not get semiconductors or workers. he is making the point that that is being unwound now and helping things. there is a political debate....
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Apr 8, 2024
04/24
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jay powell has firmly anchored his view that there will be interest rate cuts. more than likely it is a projection, not a promise. it also means they don't have to rush. rapid hikes that -- don't seem to have slowed growth down that much. let's not forget we have been with inflation. pce. the inflation measure that the fed bases its supercenter target on has come down dramatically from where we were in 2022. at one point in 2022, pce was about 7%. it is now 2.5%. you're also probably going to hear a lot of talk about the last one being the hardest and so forth. we just need to see a continuation of numbers. we don't have to necessarily be better. it is an average of 2% over time. >> all right. it seems clear at least that the u.s. is not in a rush to cut rates. and yet for the ecb, this looks but emotion out onto many at this point. so with this diversions, what about the weaker euro feeding into the european inflation story. >> what is transpiring is much more clear. munication has been much less vague. even the austrians are typically like hard money recognize
jay powell has firmly anchored his view that there will be interest rate cuts. more than likely it is a projection, not a promise. it also means they don't have to rush. rapid hikes that -- don't seem to have slowed growth down that much. let's not forget we have been with inflation. pce. the inflation measure that the fed bases its supercenter target on has come down dramatically from where we were in 2022. at one point in 2022, pce was about 7%. it is now 2.5%. you're also probably going to...