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Apr 10, 2024
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david: i'm david westin we are joined by larry summers of harvard. great to have you with us on short notice. we've been talking about inflation on wall street week for some time. you've been warning about it. what you make of the numbers we saw today? larry: i was not hugely surprised by the numbers. in an economy that's growing faster with an unemployment rate that has a three handle in the presence of massive and growing budget deficits and epically easy financial conditions, the idea inflation would remain robust or accelerate should not be a surprise to anyone. that's what the data suggests. it was not mere some observer for super core inflation that is taking out the transitory stuff and by that measure above 6% rate and the three-month rate exceeds the six-month rate. and that exceeds the one year. this confirms the idea of the neutral rate is way above the 2.6% level that the fed has been using as a northstar. in my view it puts back on the table it's still not what i would expect but you have to take seriously the possibility that the next r
david: i'm david westin we are joined by larry summers of harvard. great to have you with us on short notice. we've been talking about inflation on wall street week for some time. you've been warning about it. what you make of the numbers we saw today? larry: i was not hugely surprised by the numbers. in an economy that's growing faster with an unemployment rate that has a three handle in the presence of massive and growing budget deficits and epically easy financial conditions, the idea...
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Apr 12, 2024
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summers has a dire warning that the economy will t even worse what you and your family need to know about this we will tell you tonight and also we will detail in a new serious warning about a looming large-scale coordinated terrorist attack in the u.s. hall made possible buy president joe biden and his southern border and tens of thousands coming from china and russia and iran and syria and egypt and afghanistan but tonight we begin in las vegas where o.j. simpson has died to prostate cancer at the age of 76 during his life the former nfl running back star , hollywood star was known by many nicknames including the mayor of brent world, juice or just oj the families of nicole brown simpson and ron goldman knew oj as the cold-blooded killer who they believe murdered their loved ones and got awayy with it. in 1995 few americans can forget that time when simpson was acquitted for murder after what was the trial of the decade, a year earlier o.j. simpson's ex-wife nicole brown and her friend were brutally stabbed to death outside of brown's condo and nicole brown nearly decapitated a sh
summers has a dire warning that the economy will t even worse what you and your family need to know about this we will tell you tonight and also we will detail in a new serious warning about a looming large-scale coordinated terrorist attack in the u.s. hall made possible buy president joe biden and his southern border and tens of thousands coming from china and russia and iran and syria and egypt and afghanistan but tonight we begin in las vegas where o.j. simpson has died to prostate cancer...
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Apr 8, 2024
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haidi: former treasury secretary larry summers speaking with david westin. we are hearing parliamentary testimony from the boj governor speaking in parliament in tokyo, commenting on super location of policy, the first year responding to questions about economic settings and saying the economy's recovery enabled the move on policy when the po j off did for lift off. some, suggesting the next rate hike could, in the second half of 2024, the chances of meeting christ target are rising. her uncle's unhappy. i'm sensing an underlying issue. it's t-mobile. it started when we tried to get him under a new plan. but they they unexpectedly unraveled their “price lock” guarantee. which has made him, a bit... unruly. you called yourself the “un-carrier”. you sing about “price lock” on those commercials. “the price lock, the price lock...” so, if you could change the price, change the name! it's not a lock, i know a lock. so how can we undo the damage? we could all unsubscribe and switch to xfinity. their connection is unreal. and we could all un-experie
haidi: former treasury secretary larry summers speaking with david westin. we are hearing parliamentary testimony from the boj governor speaking in parliament in tokyo, commenting on super location of policy, the first year responding to questions about economic settings and saying the economy's recovery enabled the move on policy when the po j off did for lift off. some, suggesting the next rate hike could, in the second half of 2024, the chances of meeting christ target are rising. her...
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Apr 11, 2024
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we said larry summers saying rate hikes are on the table. economist ej antoni telling us who's right. cory mills one of the republicans voting against the controversial surveillance tool known as fisa. what did we gain by not renewing it? congressman responds next. what does a good investment opportunity look like? at t. rowe price we let curiosity light the way. asking smart questions about opportunities like clean water. and what promising new treatment advances can make a new tomorrow possible. better questions. better outcomes. choose advil liqui-gels for faster, stronger and longer-lasting relief than tylenol rapid release gels because advil targets pain at the source of inflammation. so for faster pain relief, advil the pain away. stuart: has president biden responded to this? lauren: yeah and he said he's absolutely considering that. >> president biden, do you have a response to australia's request to drop the charges? >> didn't hear you? >> a response to australia's request [inaudible]. stuart: oh. lauren: okay. julian assange facing
we said larry summers saying rate hikes are on the table. economist ej antoni telling us who's right. cory mills one of the republicans voting against the controversial surveillance tool known as fisa. what did we gain by not renewing it? congressman responds next. what does a good investment opportunity look like? at t. rowe price we let curiosity light the way. asking smart questions about opportunities like clean water. and what promising new treatment advances can make a new tomorrow...
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Apr 25, 2024
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and larry, let's remember but i have mentioned this before but larry summers came out and said if you include mortgage interest payments and car loan payments the inflation rate under joe biden would not have peaked at nine. peaked at 18. the of the traditional way the way we measured inflation back of the 70s and include those numbers and really identify the impact of household budgets. inflation has been far worse than the official statistics would have you believe. that is why joe biden is so far underwater. got a couple left wing democrat economist who still want to believe sometime in the future and are calling on his party. larry: just to be on the show tomorrow haven't seen the him fa while, good for him. steve moore avenue of the regulatory story? two things i want to explore. one of them is new rags from biden will basically attempt. though all the challenge in the courts but attempting to end coal. to end new natural gas and coal and new natural gas plans. they have already ruled out new lng plants. so steve, just on that i know there are others over 1 trillion in total cost
and larry, let's remember but i have mentioned this before but larry summers came out and said if you include mortgage interest payments and car loan payments the inflation rate under joe biden would not have peaked at nine. peaked at 18. the of the traditional way the way we measured inflation back of the 70s and include those numbers and really identify the impact of household budgets. inflation has been far worse than the official statistics would have you believe. that is why joe biden is...
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Apr 11, 2024
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after the data yesterday people thought it might be two, maybe even less agger commentators like larry summers, former us treasury secretary, saying that the move might not be down under could be an increase in rate cuts, so this provides a little bit of relief stop the other people watching this closely is washington. this is an election year, and questions are being asked about what this means for the real action bit of president biden. he is trying to tell a story that the economy is improving, and so the timing of rate cuts is something that his team will be watching closely. the sooner they are the better that is poor him, the further out, that helps the republican side, when they have been trying to make the case that inflation is a real problem and that the biden administration has not been doing enough, so for now, this data brings some reassurance, but not too much. we data brings some reassurance, but not too much-— not too much. we are in that sliuhtl not too much. we are in that slightly perverse _ not too much. we are in that slightly perverse situation i not too much. w
after the data yesterday people thought it might be two, maybe even less agger commentators like larry summers, former us treasury secretary, saying that the move might not be down under could be an increase in rate cuts, so this provides a little bit of relief stop the other people watching this closely is washington. this is an election year, and questions are being asked about what this means for the real action bit of president biden. he is trying to tell a story that the economy is...
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Apr 10, 2024
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when you look away larry summers had to say, how do you feel about the potential for a rate hike? >> i don't think so. the fed has a strategy of higher for longer. we are in that process. let's remember, they hiked rates last july. soon it's going to be almost a year. they are waiting for the effects of those rate hikes to percolate through inflation. sonali: howdy see the lagged effects playing out? >> it's a sequence. it had an impact on the housing market. it had an impact on durable goods consumption. it hasn't had an impact on fiscal policy of public investment. we are in a new world. it's a new world where there are a lot of policies happening playing at the same time. sonali: you wrote in a financial times opinion piece on may 2 that there is still a narrow path to a soft economic landing. do you still believe that? angel: that was a most a year ago and yes, i still subscribe to that. we were one of a few places that didn't call for a recession this year because we were seeing a lot of resilience in the u.s. economy. consumers have very sound balance sheets. banks are well-
when you look away larry summers had to say, how do you feel about the potential for a rate hike? >> i don't think so. the fed has a strategy of higher for longer. we are in that process. let's remember, they hiked rates last july. soon it's going to be almost a year. they are waiting for the effects of those rate hikes to percolate through inflation. sonali: howdy see the lagged effects playing out? >> it's a sequence. it had an impact on the housing market. it had an impact on...
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Apr 25, 2024
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larry, let's remember, i mentioned this before, but larry summers came out recently and said, if you inchewed mortgage interest payments and car loan payments that the inflation rate under joe biden would not have peaked at nine it would peak at 18. if you go to the traditional way, the way we measured inflation back in the '70s, include those numbers, therefore identify the impact on household budgets, inflation is far worse than the official statis tickers would have you believe. that is why joe biden is so far underwater. a couple left-wing democrat economists who want to be believed sometime in the future and are actually calling out his party. larry: by the way jason furman will be on the show tomorrow. haven't seen him in a while. good for him. steve moore, how about this regulatory story. two things i want to explore. one of them is, new regs from biden will basisally attempt, it will all be challenged in the court the but attempting to end coal, to end new natural gas, and coal, and end new natural gas plants. they have already ruled out new lng plants. so, steve, just on tha
larry, let's remember, i mentioned this before, but larry summers came out recently and said, if you inchewed mortgage interest payments and car loan payments that the inflation rate under joe biden would not have peaked at nine it would peak at 18. if you go to the traditional way, the way we measured inflation back in the '70s, include those numbers, therefore identify the impact on household budgets, inflation is far worse than the official statis tickers would have you believe. that is why...
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Apr 12, 2024
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sonali: i want to point back to an interview with larry summers seeing the cpi print has raised chances the next fed move is actually a hike. larry: this confirms the idea that the neutral rate is way above the 2.6% level that the fed has been using as a northstar. in my view, it puts back on the table -- it is still not what i would expect. sonali: obviously this is not being priced into the markets right now. how do you see the wrist moving forward? noelle: that is definitely a risk but one thing we have not talked a lot about in terms of market participants is the influx we have seen from non- u.s. persons into the u.s. and how that has changed potential growth. we expect that arise a little bit this year. growth above consensus. it will not hit the ball out of the park in terms of growth but we expect potential to rise and that will keep inflation contained. we will see some disinflationary trends which takes the risk off the table. it is something we have to be watching and you definitely want to watch wages. if you take a look at the data points we do not see an overheating of the
sonali: i want to point back to an interview with larry summers seeing the cpi print has raised chances the next fed move is actually a hike. larry: this confirms the idea that the neutral rate is way above the 2.6% level that the fed has been using as a northstar. in my view, it puts back on the table -- it is still not what i would expect. sonali: obviously this is not being priced into the markets right now. how do you see the wrist moving forward? noelle: that is definitely a risk but one...
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Apr 12, 2024
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and it's it in the polls.mmer larry summers said something very important. he said, if you look at something mething if super core inflation, if you remove transitory costs and homeng ownership out of the equation, he thinks inflation is closehipr to 6%. everybody goes to the grocery store and tht everyoe station gs sticker shock, but it's far beyond that noation anw. people can't afford rent, mortgage, utilities, insurance ,saving for a rainy day, enjoying a sunny day. let me add one last democrat lim to your list of many democrats who are criticizing biden and biden. ron klain, his first and longest serving chief of staff. yes, he was caught. it was a leaked tape. but he said what a ridiculoug c s strategy that for 2024, by not straling inflation in al matters, what people believe and what they believe right now wh offt they were bettere an with donald trump as president than under joe biden as presidentld t when you ask ak that question. the data aren't even close t and they're left with this charlie smear, slander, besmirch character>>d assassination and
and it's it in the polls.mmer larry summers said something very important. he said, if you look at something mething if super core inflation, if you remove transitory costs and homeng ownership out of the equation, he thinks inflation is closehipr to 6%. everybody goes to the grocery store and tht everyoe station gs sticker shock, but it's far beyond that noation anw. people can't afford rent, mortgage, utilities, insurance ,saving for a rainy day, enjoying a sunny day. let me add one last...
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Apr 8, 2024
04/24
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question was larry summers speaking with david westin following that hot u.s. jobs report we can dive a little bit more deeply into that now. we will look at the morgan stanley chief u.s. economist on friday. she was talking about integration specifically and the impact on the labor market. jay powell has said because of immigration, you have bigger economy. not a title i. this was well illustrated in the jobs numbers. the white line. look at that crocodile mouth opening out. stoking wage pressure. you can see the impact on the stock market on friday. good economic news, good for the market. a strong economy expected to power corporate america even if it means rates higher for longer. is bloomberg. ♪ anna: good morning from london. asian stocks follow wall street higher. looking ahead to
question was larry summers speaking with david westin following that hot u.s. jobs report we can dive a little bit more deeply into that now. we will look at the morgan stanley chief u.s. economist on friday. she was talking about integration specifically and the impact on the labor market. jay powell has said because of immigration, you have bigger economy. not a title i. this was well illustrated in the jobs numbers. the white line. look at that crocodile mouth opening out. stoking wage...
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Apr 11, 2024
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. >> larry summers, a democrat points out if you put in cost of interest, you do have to pay -- mortgages, it was 18%. 3 % on, 4% they bandied around today is like 8 %, and given now, with mortgage rates up, car payments up, credit card payments interest rates up. guess what, people have to pay; that that is a cover the of living, that the -- cost of living that government ignores. >> thank you, you know, summers, that was a national bureau of economy research piece of work. you are right, thank you for that john carney spot on. i am listening to forever expeffer, iand ever. coming up on kudlow president trump is unifying g.o.p., but also the country. and his best claim is success is the best revenge. we'll talk about that with senator tim scott, he is a hot pick for vice president. and then bad day for bidenomics and biden reelection, a great day for charlie hurt and gianno wal caldwell, they will weigh in here, when we return o morikawa on 18. he is really boxed in here. -not a good spot. off the comcast business van. into the vending area. oh, not the fries! where's the ball? -anybody
. >> larry summers, a democrat points out if you put in cost of interest, you do have to pay -- mortgages, it was 18%. 3 % on, 4% they bandied around today is like 8 %, and given now, with mortgage rates up, car payments up, credit card payments interest rates up. guess what, people have to pay; that that is a cover the of living, that the -- cost of living that government ignores. >> thank you, you know, summers, that was a national bureau of economy research piece of work. you are...
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Apr 12, 2024
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i think big black swan seventh out of control on the upside and larry summers is right about that . larry: kevin, the other point and last point i want to make is seeing a tremendous rate of government spending. harry: you're running a trillion dollar deficit. okay .x it's not lower revenues, it's higher spending. we can hit $2 trillion again. from a president wanting to the fed to drop rates, he's causing inflationary pressures. all the way to 38 trillion and that big ibram increase in debt. leads to inflation and my guess is what's going to have to happen aft next election is congress going to have to rebalance and no way the u.s. on the path to germany and stay for another decade. larry: kevin, thank you so much. we're talking tax day on monday. donald trump wants earlier and more debate withs joe biden and we've got david and rich lowry to weigh in and plus, sarah carter on biden's support ovisrael. versus iran. is it really ironclad or not and by the way. way, tough story, hw many hostages are really alive being held by hamas. i'm kudlow, stick around. lots more to dorks on eve
i think big black swan seventh out of control on the upside and larry summers is right about that . larry: kevin, the other point and last point i want to make is seeing a tremendous rate of government spending. harry: you're running a trillion dollar deficit. okay .x it's not lower revenues, it's higher spending. we can hit $2 trillion again. from a president wanting to the fed to drop rates, he's causing inflationary pressures. all the way to 38 trillion and that big ibram increase in debt....
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Apr 10, 2024
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. >> it was larry summers, a democrat, former treasury secretary points out. larry: yes. >> if you put in the cost of interest, you pay on mortgages high was nine t was 18%. the 3%, 4% they bandied around today is more like seven or eight. given what is happening now with mortgage rates going up, car payments going up, credit card payment interest rates going up, guess what? people have to pay that. that is a cost of living that the government ignores. larry: thank you for reminding me. you know, summers, that was nber, national bureau of economic research piece of work with some other economists. so you're right, thank you for that. john carney, spot on. i'm just going to listen to you, forever and ever. all there is to it. folks i have to jump out. i'm a little short on time. thank you very much. coming up here on "kudlow," president trump is not only unifying the gop, he is unifying the entire country and his best claim is success. success is the best revenge. so we're going to talk about that with senator tim scott. he is a hot pick for vice president by t
. >> it was larry summers, a democrat, former treasury secretary points out. larry: yes. >> if you put in the cost of interest, you pay on mortgages high was nine t was 18%. the 3%, 4% they bandied around today is more like seven or eight. given what is happening now with mortgage rates going up, car payments going up, credit card payment interest rates going up, guess what? people have to pay that. that is a cost of living that the government ignores. larry: thank you for reminding...
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Apr 10, 2024
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caroline: full coverage on the inflation print cpi harder than expected openai board member larry summers joins us to discuss. ed: tsmc sales surge after riding the ai chip boom. we will break down the details and discuss in
caroline: full coverage on the inflation print cpi harder than expected openai board member larry summers joins us to discuss. ed: tsmc sales surge after riding the ai chip boom. we will break down the details and discuss in
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Apr 6, 2024
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summers know this. and it's just here's the thing, well, they'll say, well, you guys have been saying that for a listening time. we haven't gone off the cliff. the problem though is once we go off the cliff, we can't go back. rachel: that's right. >> bottom line, it's over. rachel: poverty for everybody. >> right. rachel: charles, always great. he's got so much common sense. catch making money on fox business network at 2:00 p.m. every day. thanks, charles. >> thank you. rachel: talk about chasing the sun. come monday, one pilot taking his claim straight through the i clips' path -- taking his plane straight through the eclipse's path. we'll talk to him. ♪ business. it's not a nine-to-five proposition. it's all day and into the night. it's all the things that keep this world turning. the go-tos that keep us going. the places we cheer. and check in. they all choose the advanced network solutions and round the clock partnership from comcast business. see why comcast business powers more small businesses
summers know this. and it's just here's the thing, well, they'll say, well, you guys have been saying that for a listening time. we haven't gone off the cliff. the problem though is once we go off the cliff, we can't go back. rachel: that's right. >> bottom line, it's over. rachel: poverty for everybody. >> right. rachel: charles, always great. he's got so much common sense. catch making money on fox business network at 2:00 p.m. every day. thanks, charles. >> thank you....
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Apr 10, 2024
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and then you have people like larry summers making the point that the next move could be a hike. i think today's inflation numbers certainly have put an end to the whole disinflation arc. annabelle: given these structural changes taking place, is 2% even a realistic target or are we just facing a new normal now of 3% instead? enda: economist would say to you it has to be really hard not to go down from 3% to 2%. that would inflict a lot of pain on the economy. there are parts of the economy that are shipping pain. but nonetheless monday -- the fed has to get inflation down to 2%. that is their target. their own core readings perhaps still not as bad as the numbers we got today. nonetheless, inflation is not where it should be. it is also coming in a critical election year. president biden today made the point he still expects interest rates to come down before the year is out. all told today when you consider the breadth of increases in these numbers, it shows how hard it is going to be to get inflation down to 2%. you could argue 3% is the new 2%, but the law of the land says th
and then you have people like larry summers making the point that the next move could be a hike. i think today's inflation numbers certainly have put an end to the whole disinflation arc. annabelle: given these structural changes taking place, is 2% even a realistic target or are we just facing a new normal now of 3% instead? enda: economist would say to you it has to be really hard not to go down from 3% to 2%. that would inflict a lot of pain on the economy. there are parts of the economy...
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Apr 11, 2024
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larry summers thinks the next move of the fed could be to tighten. all bets are off. we had the reverse situation in china as well. cpi for the month of march, 1/10 of 1%. ppi contracting for 18 months and around now. take a look at that board. the reaction is profound really with the big movements and yields. yields rising in some cases. the u.s. two-year knocking on the door of 5% right now. japan 10 year at its highest since november. big move and exit -- fx at well -- as well. so that's now the new threshold for intervention from the ministry of finance. we heard from the currency diplomat earlier saying he's not ruling out any options so the currency chiefs in japan trying to drop on. no action is yet. oil going up. we will get to that more in a moment. geopolitical tensions pushing that higher as well. let's bring in garfield reynolds. let's start with you. let's talk about the bond market reaction from the hotter than expected cpi print. where do we go from here? garfield: we should consolidate for them -- for a while. biggest 10 year yield jumped since septemb
larry summers thinks the next move of the fed could be to tighten. all bets are off. we had the reverse situation in china as well. cpi for the month of march, 1/10 of 1%. ppi contracting for 18 months and around now. take a look at that board. the reaction is profound really with the big movements and yields. yields rising in some cases. the u.s. two-year knocking on the door of 5% right now. japan 10 year at its highest since november. big move and exit -- fx at well -- as well. so that's now...
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Apr 11, 2024
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people like larry summers saying there's a 25% probability we could have a hike this year. haidi: are you taking short positions in treasury? >> we are not taking outright short positions, but we have not had any global bonds since last year. haidi: talk us through how you are navigating. >> we have been adding to risk really from the first quarter of last year just as the economic data was getting better and better. u.s. data has continued to be resilient and surprising on the upside this year. given the narrow market leadership with tech, earnings for the last quarter, last year, were about 55%. we do have strong price and momentum trends, but the market kept just a little bit cautious. we did add global small caps about five weeks ago. if you look at the s&p 500, you have had industrial small and mid-caps outperform the s&p 500, so there's a lot of beneficiaries in small money cap stocks that would benefit from reshore in in geopolitics, but any kind of china exposed names you probably want to be cautious. haidi: is is interesting is the run-up we have seen in gold price
people like larry summers saying there's a 25% probability we could have a hike this year. haidi: are you taking short positions in treasury? >> we are not taking outright short positions, but we have not had any global bonds since last year. haidi: talk us through how you are navigating. >> we have been adding to risk really from the first quarter of last year just as the economic data was getting better and better. u.s. data has continued to be resilient and surprising on the...
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Apr 11, 2024
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some big words coming out of larry summers who says, there may still be a case for a rate hike on the table. not just pausing or pushing cuts out but a rate hike altogether. here's what the markets are doing. they are taking the comments in stride. this is just for june. remember the start of the year, we were expect and seven rate cuts. those odds have diminished more and more. that doesn't just -- speak to the hike story. what does the ecb do today? is it more of a reaction in the cpi numbers? volatility is crucial when we talk about it being at its highest back to march of 2023. those all in focus as we get closer to the ecb decision. we also have a supreme amount of great guests as well. the telecom italia ceo will join us in the 9:00 hour. plenty to digest. markets today is up next. we break down the market stories of the day. we will get your day going and prepare you for the european market open. stick with us. this is bloomberg. ♪ >> good morning from london. asian stocks and bonds are high after u.s. invasion. the end studies. the
some big words coming out of larry summers who says, there may still be a case for a rate hike on the table. not just pausing or pushing cuts out but a rate hike altogether. here's what the markets are doing. they are taking the comments in stride. this is just for june. remember the start of the year, we were expect and seven rate cuts. those odds have diminished more and more. that doesn't just -- speak to the hike story. what does the ecb do today? is it more of a reaction in the cpi...
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Apr 5, 2024
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now tonight on wall street week, we will hear from ray dalio and larry summers. that is at 6:00 p.m. eastern. ♪ so, what are you thinking? i'm thinking... (speaking to self) about our honeymoon. what about africa? safari? hot air balloon ride? swim with elephants? wait, can we afford a safari? great question. like everything, it takes a little planning. or, put the money towards a down-payment... ...on a ranch ...in montana ...with horses let's take a look at those scenarios. j.p. morgan wealth management has advisors in chase branches and tools, like wealth plan to keep you on track. when you're planning for it all... the answer is j.p. morgan wealth management. katie: an update on the earthquake that hit the new york/new jersey region this hour. the earthquake that had buildings shaking has been downgraded to a magnitude 4.8. governor hochul says authorities are assessing for damage, but there are no reports of major impacts. a quick look at stocks hitting highs right now. we have general electric at a 52-week high after research partners initiated coverage w
now tonight on wall street week, we will hear from ray dalio and larry summers. that is at 6:00 p.m. eastern. ♪ so, what are you thinking? i'm thinking... (speaking to self) about our honeymoon. what about africa? safari? hot air balloon ride? swim with elephants? wait, can we afford a safari? great question. like everything, it takes a little planning. or, put the money towards a down-payment... ...on a ranch ...in montana ...with horses let's take a look at those scenarios. j.p. morgan...
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Apr 11, 2024
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. >> martha: so did larry summers who, you know, basically said everyone should have listen to me a long time ago. he said he thinks the feds might have to raise rates again. 's so not cut them but raise them. let's listen to the latest from the view. they have a lot of deep -- deep economic thoughts let's watch... >> i think i'm not mad with him for the prices i met grocery stores. >> we need corporations like these stores to be good corporate citizens and stop gouging laws boss. >> i am an american i met about having prices like this. [ laughter ] >> if they knew civics they would know it's not the presidents fault its those horrible corporate grocery store owner companies that are driving prices up. >> maybe they should do the right thing and go out of business because they can't cell at a profit. our system is based on profit, you have to pass on the inflation that you get in the wholesale prices. that's what's going on here. you know, it's not just president biden making stuff up about inflation when he came and jim clyburn remember he was on msnbc yesterday when the news came out a
. >> martha: so did larry summers who, you know, basically said everyone should have listen to me a long time ago. he said he thinks the feds might have to raise rates again. 's so not cut them but raise them. let's listen to the latest from the view. they have a lot of deep -- deep economic thoughts let's watch... >> i think i'm not mad with him for the prices i met grocery stores. >> we need corporations like these stores to be good corporate citizens and stop gouging laws...
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Apr 11, 2024
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annabelle: that was former treasury secretary larry summers there really just reiterating what a lot of people are saying in the market right now. any expectation we will see a rate cut by the midpoint of the year is perhaps unfounded, you could say. but we have seen a lot of traders pushing back expectations. the repricing we have seen across the treasuries curve overnight, led by the front-end. we saw the 10 year yield percent. topping four .5%. this is what we're seeing today so far, particularly the big spike so far. the japanese 10-year yield, as well about 4.8%. in japan we have seen a big move in the dollar that has led to further yen weakness. touching the 153 mark. today we have seen again, very marginally firm, but that is against the backdrop of the jawboning, through from japanese government officials. suzuki is the latest one speaking in the last few minutes , the finance minister, saying they are watching these fx moves with a high sense of urgency and they will not be rolling out any options and will take appropriate responses. certainly echoing what we heard from masa
annabelle: that was former treasury secretary larry summers there really just reiterating what a lot of people are saying in the market right now. any expectation we will see a rate cut by the midpoint of the year is perhaps unfounded, you could say. but we have seen a lot of traders pushing back expectations. the repricing we have seen across the treasuries curve overnight, led by the front-end. we saw the 10 year yield percent. topping four .5%. this is what we're seeing today so far,...
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Apr 2, 2024
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we have larry summers. the jobs numbers are coming out on friday. he will talk about what's going on. we are watching the financial markets and we are seeing the yields go up. katie: we have some jolts data suggesting the labor market is still very strong. it will be a fascinating conversation to look forward to. this is bloomberg. ♪ katie: disney's showdown with activist investors set to conclude when they hold their shareholder meeting tomorrow. investors had looked beyond the ongoing boardroom battle. shares have rallied over 30% this year alone. let's bring in keith, bloomberg intelligence meeting analysts. when it comes to what the heart of this dispute is, it's about succession but it's also about streaming. what is the big issue here? >> you are absolutely right. succession has been a constant point for disney and that is something brought up by the activist investors, especially nelson peltz. that is something they will have to resolve. bob iger's term expires at the end of 2026 and he's looking at a pool of internal candidates. they are l
we have larry summers. the jobs numbers are coming out on friday. he will talk about what's going on. we are watching the financial markets and we are seeing the yields go up. katie: we have some jolts data suggesting the labor market is still very strong. it will be a fascinating conversation to look forward to. this is bloomberg. ♪ katie: disney's showdown with activist investors set to conclude when they hold their shareholder meeting tomorrow. investors had looked beyond the ongoing...
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my feeling is if push comes to shove we may get interest rate cut but larry summers is saying it and other fed veterans are saying the neutral rate of interest adjusted to where it was before global financial crisis. the rate of inflation can't settle for 2% in the rest of the environment but focus on the treasury rate here. it is about 5%. remember i was with you after writing an op-ed where i said the treasury rate had gone up and is not coming back down and you said to me it came down today and i said call me when it is below 4%. %. you haven't made that call. stuart: that's very true. >> the point is we are probably at the neutral rate in a red-hot economy. look at these jobs. stuart: i've got to cut it short because something unusual has happened in the new york area, really unusual. if you live in new york you may have felt a shake. that's because a magnitude 4.8 earthquake just rattled through greater new york and new jersey area. lauren and i were sitting here with the four star general and suddenly the side of the studio started to rattle. we didn't know what it was. i thoug
my feeling is if push comes to shove we may get interest rate cut but larry summers is saying it and other fed veterans are saying the neutral rate of interest adjusted to where it was before global financial crisis. the rate of inflation can't settle for 2% in the rest of the environment but focus on the treasury rate here. it is about 5%. remember i was with you after writing an op-ed where i said the treasury rate had gone up and is not coming back down and you said to me it came down today...
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Apr 30, 2024
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larry summers has a tweet out i want to read to you, scott, that just came out a few minutes ago, where he said the federal reserve is in a treacherous environment. should have been more careful about easing signals and now should be very cautious about possible rate cutting. now larry is not saying they're introducing this two-sided risk, but i am talking to people who think the fed ought to put the market on notice that a cut is not a given for the next move for the federal reserve. >> interesting. steve, thanks. >> a pleasure. >> steve liesman. >>> up next, more moves from steph in her portfolio, adding to two key positions. we'll break them down. plus, spinoff success stories. breakups have been a big win for investors. our "chart of the day." an interesting story next. 70 degrees and sunny today. amelia, unlock the door. i'm afraid i can't do that, jen. ♪ (suspenseful music) ♪ why not? did you forget something? ♪ (suspenseful music) ♪ my protein shake. the future isn't scary. not investing in it is. you're so dramatic amelia. bye jen. nasdaq-100 innovators. one etf. before
larry summers has a tweet out i want to read to you, scott, that just came out a few minutes ago, where he said the federal reserve is in a treacherous environment. should have been more careful about easing signals and now should be very cautious about possible rate cutting. now larry is not saying they're introducing this two-sided risk, but i am talking to people who think the fed ought to put the market on notice that a cut is not a given for the next move for the federal reserve. >>...
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Apr 4, 2024
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this is a guy who was chief of staff of the first two years, pushed back on everyone like larry summers on the democratic party who said, guys, you really want to pass all of this extra spending because it could lead to inflation? he was like, you guys are ridiculous, that'll never happen. look what happened. >> jesse: let me ask greg, he chopped so much would today come he knows the price of lumber. is the pilling on your shirt on purpose? >> greg: yes, i feel like it is very in style -- >> jesse: you paid extra for the billing. like when you buy the genes ripped, you bought the shirt filled. that's why it costs so much. and with mustard? >> greg: mustard is in, jesse. the kids love mustard. >> jesse: okay, good. so i don't know how much progress they have made on inflation. no one else believes they have made any progress. if you look at all of the prices, the prices are not coming down no matter how much they try to rig the numbers. we keep on hearing about this job's boom. all of the jobs are coming from people that were born in another country. that is what brings down wages. i jus
this is a guy who was chief of staff of the first two years, pushed back on everyone like larry summers on the democratic party who said, guys, you really want to pass all of this extra spending because it could lead to inflation? he was like, you guys are ridiculous, that'll never happen. look what happened. >> jesse: let me ask greg, he chopped so much would today come he knows the price of lumber. is the pilling on your shirt on purpose? >> greg: yes, i feel like it is very in...
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the other thing is these numbers, as larry summers -- former treasury secretary under a democrat, he's a democrat himself -- has pointed out these price indexes leave out interest rates. david: yeah. >> so if you put in the interest rates on mortgages, car payment, credit card payments, he and other economists calculated the height was not 9 percent if, it was 18. it's not the 3% he's citing today, president biden, it's the actually 7%. so they're pick about the whole numbers, and they're fibbing about everything else. david: bob, you only get about 15 seconds, but you know the american consumer very well. you've dealt with them in many different products that you've sold. they're not buying this, are they? >> they are not buying it. and we're seeing it in every -- i mean, we're seeing people shift in these polls, they're definitely moving away from this bidenomics thing. one other point, david. you know, they're not going to lower rates in may based on the april number, then they really only have june-july, august is out, september. you only have three more board meetings because they
the other thing is these numbers, as larry summers -- former treasury secretary under a democrat, he's a democrat himself -- has pointed out these price indexes leave out interest rates. david: yeah. >> so if you put in the interest rates on mortgages, car payment, credit card payments, he and other economists calculated the height was not 9 percent if, it was 18. it's not the 3% he's citing today, president biden, it's the actually 7%. so they're pick about the whole numbers, and they're...
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Apr 25, 2024
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barry, what caught my eye, your estimate of the natural rate now being 4%, just a month ago, larry summers ruffled a lot of feathers when he made the same assumption. what do you think others are not seeing? >> larry talked about the fiscal theory of the price level and the idea of running 7% budget deficits during an economic expansion, government spending at 24 to 25% of gdp raising aggregate demand higher than the economy can absorb it and causes higher trend inflation. for whatever reason the fed refuses to discuss this. we know the real reason is political. even when they hint about it, wahler, for example was pushed at the economic club of new york to talk about the deficits. he merely describes them as unsustainable, when the real issue is not so much that we're about to be on the verge of a european-style debt crisis, it is that it will cause higher trend inflation and that's where we're at. so there is other related issues. the fed's dismissal of higher trend productivity, overreliance on demographics but for me the real issue is higher trend inflation is a consequence of super ac
barry, what caught my eye, your estimate of the natural rate now being 4%, just a month ago, larry summers ruffled a lot of feathers when he made the same assumption. what do you think others are not seeing? >> larry talked about the fiscal theory of the price level and the idea of running 7% budget deficits during an economic expansion, government spending at 24 to 25% of gdp raising aggregate demand higher than the economy can absorb it and causes higher trend inflation. for whatever...
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Apr 5, 2024
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summers in the democratic party who said do you really want to pass this extra spending becausi s a good lead to inflation?irst he's like you guys are ridiculous, that will neverea happen andrs then look what happened. >> jesse: asked greg.ry he chop so much would today he dknows the price of lumber beta than anybody. >> greg: that's true. >> jesse: is the pilling on your shirt on purpose? >> greg: yes, billing is very in style. >> jesse: you paid extra. like when you buy the genes ripped. you bought the shirt pilled and that's what it cost so much. >> jesse: >> greg: yes. >> jesse: okay, good greg. and you went with mustard. >> greg: mustard is in, that kids love mustard. >> jesse: very good. so i don't know how much progress they've made on inflation. no one els e believes they've made any. if you look at all the prices, they are not coming down no matter how much they try to rick the numbers. we keep on hearing about thised jobs boom, all the jobs are coming from people that were born in another country. and that's what brings down wages. and i just saw him not replenish the stra
summers in the democratic party who said do you really want to pass this extra spending becausi s a good lead to inflation?irst he's like you guys are ridiculous, that will neverea happen andrs then look what happened. >> jesse: asked greg.ry he chop so much would today he dknows the price of lumber beta than anybody. >> greg: that's true. >> jesse: is the pilling on your shirt on purpose? >> greg: yes, billing is very in style. >> jesse: you paid extra. like when...
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summers as you well know worked in the obama administration. he says "you have to take seriously the possibility that the next rates move will be upwards rather than downward, jerry baker was on last hour with us, he made this prediction weeks ago. we will see if they are right. meanwhile this is a quote from politico biden's former chief of staff on inflation. he is saying what everyone is thinking. i think the president's out there too much talking about bridges. he does two or three events a week cutting a ribbon on a bridge you go to the grocery store and eggs and milk are expensive. and they are. >> inflation is really bad. by the way even though the rate came down we should point out that prices didn't really decline, right? we still have very, very high prices. here is one other thing people are not really talking about. why is it we had a spike in full and part-time employment? we had because illegal immigrants are coming to this country in droves. one reason i hear on wall street all the time that they want that the biden administratio
summers as you well know worked in the obama administration. he says "you have to take seriously the possibility that the next rates move will be upwards rather than downward, jerry baker was on last hour with us, he made this prediction weeks ago. we will see if they are right. meanwhile this is a quote from politico biden's former chief of staff on inflation. he is saying what everyone is thinking. i think the president's out there too much talking about bridges. he does two or three...
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Apr 7, 2024
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larry summers, the obama administration economist, has talked about this. if you actually look at what most people are spending their wage withs on, prices are not coming down. inflation is still a very serious problem for american workers. on the other hand, of course, you have a crime, public safety and illegal immigration problem that's making people feel less safe in their own communities. so on the one hand, they can't afford to get by in this economy and with this administration, on the other hand, they don't feel safe in their own communities. we just had 15 miles from where i grew up, maria, here in southwestern ohio, we had an illegal immigrant who was arrested who murdered somebody in hamilton, ohio. so when people say hamilton, ohio, has about 50,000 the people, by the way. when people say ohio's not a border state, we're certainly dealing with the problems caused by joe biden's open border. this has got to stop. and unless you stop it, i don't think you're going to give people any sense of real safety in their communities. maria: senator, you ju
larry summers, the obama administration economist, has talked about this. if you actually look at what most people are spending their wage withs on, prices are not coming down. inflation is still a very serious problem for american workers. on the other hand, of course, you have a crime, public safety and illegal immigration problem that's making people feel less safe in their own communities. so on the one hand, they can't afford to get by in this economy and with this administration, on the...
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Apr 6, 2024
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chief of staff for the first two years, pushed back on everybody, like larry summers of the democratic party who said, guy, this extra spending could pleas. then look what happened. >> i mean, ask greg, he chopped so much wood today, the he knows the price of lumber. >> that's true. >> that's better than anybody. is the pill. ing on your shirt on purpose? >> yes. pilling is very in style -- from okay. you paid extra for the pilling. like when you buy the jeans ripped, you bought the shirt pilled, and that's why it cost so much. >> yes. >> okay, good, greg. and you went with mustard. >> miss if standard is in, jesse. >> okay, very good. [laughter] i don't know how much progress they've made on inflation. no one else believes they've made any progress. if you look at the price, the prices are not coming down no matter how much they try to rig the numbers. now, we keep on hearing about this jobs boom. all the jobs are coming from people that were born? another country, and that's what brings down wages. and i just saw him not replenish the strategic oil reserves because the price of oil i
chief of staff for the first two years, pushed back on everybody, like larry summers of the democratic party who said, guy, this extra spending could pleas. then look what happened. >> i mean, ask greg, he chopped so much wood today, the he knows the price of lumber. >> that's true. >> that's better than anybody. is the pill. ing on your shirt on purpose? >> yes. pilling is very in style -- from okay. you paid extra for the pilling. like when you buy the jeans ripped,...
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Apr 11, 2024
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. >> the former treasury secretary under president clinton, larry summers says, there's a serious possibility the fed's next move is a hike. some economists say that's what it should do. >> the fed never should have stopped increasing rates because inflation has never been trending towards 2%. it has been trending towards 3% plus. we have arrived there. we have been there for months. and there is no indication we are going any lower any time soon. >> not all hope is lost for a rate cut. at the fed's's june meeting. but, right now, wall street is begged it's more likely to happen in september or maybe even after the election. that's largely going to depend on which way inflation goes between now and the summer months. bret? >> bret: grady, thanks. stocks mixed today. the dow lost 2. the s&p 500 was up 38. the nasdaq jumped 272 to a new record close today. up next, the death of man who went from fame and fortune to infamy. first, here's what some of our fox affiliates around the country are covering tonight. fox 13 in tampa as much of florida braces for thunderstorms, warnings have been issued
. >> the former treasury secretary under president clinton, larry summers says, there's a serious possibility the fed's next move is a hike. some economists say that's what it should do. >> the fed never should have stopped increasing rates because inflation has never been trending towards 2%. it has been trending towards 3% plus. we have arrived there. we have been there for months. and there is no indication we are going any lower any time soon. >> not all hope is lost for a...
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Apr 30, 2024
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he worked in the -- larry summers. he worked in the obama and clinton white houses. watch this. >> i think just as anybody on a university cam campus -- campus when they get funding from the outside for their activities is expected to be accountable, i think there need to be close investigations of how these protest efforts are being funded. >> copycat tents have been seen at harvard, at yale, at a berke wily, at ohio state, am a everything mory, demo to ry, and they're organized by branches of the students for justice in palestine, sjp. funded by george soros. those paid radicals are called, quote, fellows of a soros-funded group called the u.s. ca campaign for palestinian rights. elizabeth: okay. so we tracked, we've gotten reports, $6.8 billion came into with u.s. universities, millions of -- excuse me, billions of dollars from qatar and saudi arabia. what do you make of who is funding them? i mean, or this is the right as we're hearing out of the committee for a responsible budget that a biden is going to cancel more than a trillion dollars in student loan debt.
he worked in the -- larry summers. he worked in the obama and clinton white houses. watch this. >> i think just as anybody on a university cam campus -- campus when they get funding from the outside for their activities is expected to be accountable, i think there need to be close investigations of how these protest efforts are being funded. >> copycat tents have been seen at harvard, at yale, at a berke wily, at ohio state, am a everything mory, demo to ry, and they're organized by...
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Apr 24, 2024
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fast forward recent years people like larry summers, the former president of harvard, has looked at the data and concluded that by mid-century than a third of men between the ages 25 and 54 will be out of work. now, the under education, the failure to educate, educate young men creates all sorts of problems for them, for women who will make their futures with them. and it it's dangerous for. the future of our economy. now other have this problem and they're forming commissions and doing all sorts of studies and such. what's happening here? it's still, after all these years radio silence nothing except in the think tanks. the think tanks are doing it right now. brookings, richard reeves written a very good book on the precarious state of boys. a lot of the same information i had that mortenson had way back the eighties. and now he's setting up a center for the study of men and boys. what? i don't have much time. but just to say what the forces against us. why is one prepared to listen? one thing i think the schools of education are a big problem. they are carried away with an agenda that
fast forward recent years people like larry summers, the former president of harvard, has looked at the data and concluded that by mid-century than a third of men between the ages 25 and 54 will be out of work. now, the under education, the failure to educate, educate young men creates all sorts of problems for them, for women who will make their futures with them. and it it's dangerous for. the future of our economy. now other have this problem and they're forming commissions and doing all...
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Apr 10, 2024
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there is people all over, larry summers says they might have to raise rates, right? he came out today and said that, he is pretty good economist, damn good. liz: michelle bowman, fed governor. >> there are people saying that. remember this is being debated but if you know powell, if you follow him, you have got, there is, i think you got to say 60/40 he cuts. 40% he doesn't is not insignificant. let's flip for a second, i want to address this one point, is this good policy? this is where it gets kind of scary. the fed has a dual mandate of full employment, as much employment you have in lows of inflation. liz: which we have. >> so that's a dual mandate. we do have the one side, the full employment. we don't have the inflation side and you know, one thing about inflation, you know this because you, this is where it becomes political too, you see it in joe biden's approval ratings. most, if joe biden, the employment numbers that we have, the gdp prints that we have should mean joe biden gets easily reelected just based on historical precedent because they're very good.
there is people all over, larry summers says they might have to raise rates, right? he came out today and said that, he is pretty good economist, damn good. liz: michelle bowman, fed governor. >> there are people saying that. remember this is being debated but if you know powell, if you follow him, you have got, there is, i think you got to say 60/40 he cuts. 40% he doesn't is not insignificant. let's flip for a second, i want to address this one point, is this good policy? this is where...
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Apr 10, 2024
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you're definitely more positive than i because you didn't listen to larry summers earlier saying there might be a rate hike on the table and the stock market could crash. his words, not mine. >> didn't two years ago everyone said we were going to be in recession -- >> yeah. >> and a lot of analysts were with talking about major corrections, and we've been up 29% since the october lows. neil: you sound still very bullish. you sound much more cautious. >> i think that, you know, i'm with scott in the sense that nothing is going to wreak this -- break this momentum until it does. markets are not having a healthy normal correlation or to uncorrelation to rates, and so they're counting on these other anomalies that a kind of made rates not matter as much. and one of those shoes drops, or neil, either the fiscal spending falls you have of a cliff because we have no demand in the treasury markets which is why gold is going through the roof, or you have, you know, some wall with commercial real estate or you have credit card consumers falling off. that, you know, new liquidity coming into the
you're definitely more positive than i because you didn't listen to larry summers earlier saying there might be a rate hike on the table and the stock market could crash. his words, not mine. >> didn't two years ago everyone said we were going to be in recession -- >> yeah. >> and a lot of analysts were with talking about major corrections, and we've been up 29% since the october lows. neil: you sound still very bullish. you sound much more cautious. >> i think that, you...
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Apr 11, 2024
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summers and jason furman day suggested that maybe the next move from the fed is not a rate cut. it could actually be a rate hike. now, too early to actually forecast that. but it speaks volumes that we're even talking talking about rate hikes right now. >> yeah. and i know you're reporting that moody's chief economist has said that gas prices could be the big mover here, can create real problems for the economy as well. we will see this is not good news on inflation. had he can thank you so much, sir? >> all right. this morning, donald trump failing in his latest bid to derail his criminal trial here in new york for the third time, it just three days a new york appeals court judge denied his request to delay the trial. it's going to start on monday unless something really unexpected happens. cnn senior crime adjusted reporter caitlin poland's is with us now. so i mean, there are a couple of days to go, actually four until monday. so what next >> well, that's out. we'll have to see what the next couple of days bring, but what we saw monday, tuesday, wednesday, where these last ga
summers and jason furman day suggested that maybe the next move from the fed is not a rate cut. it could actually be a rate hike. now, too early to actually forecast that. but it speaks volumes that we're even talking talking about rate hikes right now. >> yeah. and i know you're reporting that moody's chief economist has said that gas prices could be the big mover here, can create real problems for the economy as well. we will see this is not good news on inflation. had he can thank you...
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. >> brian: larry summers democrat secretary under obama and other things. former president of harvard says i have to say that i have got very little sympathy for these protesters. seems to me at a moral minimum ought to recognize that they feel what they are doing is profoundly just. but they should recognize what martin luther king did and what gandhi did accepting severe punishment was part of the act of civil obedience rather than trying to rally allies to insist they will not be disciplined. they are worried about the ram ramifications while doing whatever the hell they want. what you are seeing is hamilton hall, named after alexander hamilton, obviously they have been a target from the 60's to the 70s of different takeovers. this was a compleetz surprise, it seems. and the one thing about mike lawler, he wants the president to resign. the president is dealing with a faculty and a senate and a board that feels as though she should be repr reprimanded for even brg the cops to begin with at what point do you say the president is not the problem. the whole
. >> brian: larry summers democrat secretary under obama and other things. former president of harvard says i have to say that i have got very little sympathy for these protesters. seems to me at a moral minimum ought to recognize that they feel what they are doing is profoundly just. but they should recognize what martin luther king did and what gandhi did accepting severe punishment was part of the act of civil obedience rather than trying to rally allies to insist they will not be...
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Apr 9, 2024
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harvard economist larry summers predicted that package could, i quote, set off inflationary pressures of a kind that we have not seen in a generation. he was exactly right. we could not convince our democratic colleagues to change course. instead, they chose to double down. after the american rescue act -- so-called -- a partisan spending bill of almost $20 -- of almost $2 trillion, our democratic colleagues said we're not through yet. they went on a second partisan spending spree and gave it an embarrassingly out-of-touch title. they called it the inflation reduction act. it was an inflation non-reduction act. it misleadingly suggested that somehow we had to spend another $740 billion to bring down inflation when actually spending that more money, pouring that gasoline on the economic fire actually made things worse. this bill included even more liberal priorities, including hundreds of billions of dollars for climate projects. in total, the second partisan spending bill added $740 billion and it's no surprise it certainly didn't do anything to reduce inflation. as i said, it made it
harvard economist larry summers predicted that package could, i quote, set off inflationary pressures of a kind that we have not seen in a generation. he was exactly right. we could not convince our democratic colleagues to change course. instead, they chose to double down. after the american rescue act -- so-called -- a partisan spending bill of almost $20 -- of almost $2 trillion, our democratic colleagues said we're not through yet. they went on a second partisan spending spree and gave it...
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Apr 10, 2024
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larry summers recently produced a study arguing that the cost of money is part of the cost of living. we have this weird paradox you are trying to keep the cost of groceries down by raising interest rates but as the ranking member points out, the big issue is housing and and your measure of inflation seems to treat all americans as renters, even though two thirds are homeowners. when interest rates go up, that is an increase in the cost of living for anyone with an adjustable rate mortgage, anyone looking to buy a house, anyone with a home equity loan. obviously, we would cut interest rates a little sooner and a little more if your target was something closer to 2.3%. i will ask you, is there substantial economic analysis that argues that your target rate in the economy would work better if we had a slightly higher target than 2%? >> not really, no. what has happened, you pointed out new zealand. what has happened is that 2% has become the global standard. it is a durable standard but we do not have any reason to think that it is a problem for the united states to get to 2%. we are 2.
larry summers recently produced a study arguing that the cost of money is part of the cost of living. we have this weird paradox you are trying to keep the cost of groceries down by raising interest rates but as the ranking member points out, the big issue is housing and and your measure of inflation seems to treat all americans as renters, even though two thirds are homeowners. when interest rates go up, that is an increase in the cost of living for anyone with an adjustable rate mortgage,...