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Feb 15, 2024
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[inaudible conversations] >> michael barr. just a few accomplishments from his stellar career. before becoming vice chair for supervision in july, he became vice chair for supervision in july 2022 and within 9 months was leaving the fed response to the banking distress that arose a year ago in the wake of silicon valley bank's failure. immediately prior to becoming vice chair he was dean of the ford school of public policy at the university of michigan, 2,009-2,010, he served as assistant secretary of the treasury for financial institutions and in that role, he led the obama administration's response not just the financial crisis and also negotiated much of the dodd-frank act. i am particularly pleased to introduce michael because we've known each other since we were teenagers growing up a few miles from here in suburban maryland, so with that i give you vice chair byron. [applause] >> thanks very much, really great to see you and have you moderating this conversation and thanks to all of you for being here and for inviting me to be here. after having had to miss this conferenc
[inaudible conversations] >> michael barr. just a few accomplishments from his stellar career. before becoming vice chair for supervision in july, he became vice chair for supervision in july 2022 and within 9 months was leaving the fed response to the banking distress that arose a year ago in the wake of silicon valley bank's failure. immediately prior to becoming vice chair he was dean of the ford school of public policy at the university of michigan, 2,009-2,010, he served as assistant...
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Feb 15, 2024
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michael barr said the jury is still out if the u.s. economy will achieve a soft landing.hicago fed president austan goolsbee said higher inflation for a few months would be consistent with a path back to the 2% goal. the current policy stance is restrictive and he doesn't support waiting until 12-month inflation has hit 2% to begin cutting rates. u.s. january retail sales data is due today. a contraction is expected after strong spending over the holiday period. tracking how markets spoke abou positive to the session. a lot of focus on the ftse 100. cac 40 is doing well beefed up by autos this morning. d dax having a day and commerzbank at the top of the dax. >>> this is the picture for the foreign exchange. we are sitting above the 150 levels. yen has strengthened against the u.s. dolblar by .30%. 1.2544 weaker. >>> as for u.s. futures, we had a better day yesterday after the hotter than expected cpi. today looks like all of the three majors are opening up in the green. s&p, dow and nasdaq in positive territory. i'm happy to say chris wylie is joining me on the show. won
michael barr said the jury is still out if the u.s. economy will achieve a soft landing.hicago fed president austan goolsbee said higher inflation for a few months would be consistent with a path back to the 2% goal. the current policy stance is restrictive and he doesn't support waiting until 12-month inflation has hit 2% to begin cutting rates. u.s. january retail sales data is due today. a contraction is expected after strong spending over the holiday period. tracking how markets spoke abou...
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Feb 15, 2024
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barr says the central bank needs to see more good data on inflation before cutting rates, he supports january retail sales report any moment we will have those numbers shortly, expectation call for decline in retail sales down one tenth of 8% month over month but up to tenth of 8% when you strip out auto sales, will get the ppi tomorrow morning the housing starts and building permits tomorrow morning, let's get how do vagabonds group founder and managing partner david bahnsen the author of dividend cafÉ.com and author of his new book of full-time work and the meaning of life, great to have you, thank you for being here how do you want to allocate capital as we watch an economy slowing? >> we are big believers that dividend growth equity is a better way to allocate capital regardless of the season but particularly when you're dealing with the border than we are now, not only economic questions but ongoing monetary instability, fiscal responsibility, geopolitical tension but the biggest issue to me is evaluations and the index is become so dependent there soon good be calling the magnif
barr says the central bank needs to see more good data on inflation before cutting rates, he supports january retail sales report any moment we will have those numbers shortly, expectation call for decline in retail sales down one tenth of 8% month over month but up to tenth of 8% when you strip out auto sales, will get the ppi tomorrow morning the housing starts and building permits tomorrow morning, let's get how do vagabonds group founder and managing partner david bahnsen the author of...
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Feb 15, 2024
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barr says essential bank needs to see more positive data and inflation and he does support chairmaneful approach to rate cuts. portfolio wealth advisor president and chief investment officer lee munson, great to see you, thank you so much for being here it feels like investors are taking their cue from the latest sentiment out of the fed, they get caught, then a cat in the lesson the expectation of rate cuts coming sooner and that's why stocks have been under selling pressure, your thoughts. >> i been talking about this for months, were to see how you have these reactions shoot i was seeing this in november or december last month, here is what is difference a little bit of sunshine on the market is in investors have come to realize versus six weeks ago that the cuts are going to happen in march, the majority of investors are with the fed, this is no different that investors getting ahead of earnings, in 2024 and with the market float upper looking past, the hot prints, the three-point something versus two-point something in the big psychological bear and the two in front of the. and
barr says essential bank needs to see more positive data and inflation and he does support chairmaneful approach to rate cuts. portfolio wealth advisor president and chief investment officer lee munson, great to see you, thank you so much for being here it feels like investors are taking their cue from the latest sentiment out of the fed, they get caught, then a cat in the lesson the expectation of rate cuts coming sooner and that's why stocks have been under selling pressure, your thoughts....
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Feb 26, 2024
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barr saying we need to take a careful approach, adriana kugler saying there's very little urgency, philip year, lisa cook said we need more confidence that inflation is coming down. i could go on and on tom barkin were not on the ground, rafael bostic no urgency to cut rates, mary daly more work to do. when they say later this year does that mean after june. >> i think it means later this year they want to see more data and make the decision then but from a policymaker perspective if the real economy is doing well in inflation is it where you wanted to be you might as will keep the policy rate higher, i think there's a little bit of a risk in the attitude you don't want to get all the way down to 2% inflation and still have the policy rate where you had it when you have five or 6% inflation that would be carrying on too long but for now they don't feel much urgency to move. they made a lot of progress on inflation over the last nine months or so inflation used to be much higher but if it hangs up in the 3% range we will be happy about that i would like to see the year-over-year rates go d
barr saying we need to take a careful approach, adriana kugler saying there's very little urgency, philip year, lisa cook said we need more confidence that inflation is coming down. i could go on and on tom barkin were not on the ground, rafael bostic no urgency to cut rates, mary daly more work to do. when they say later this year does that mean after june. >> i think it means later this year they want to see more data and make the decision then but from a policymaker perspective if the...
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Feb 15, 2024
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yesterday michael barr said he's looking at ways to improve bank's readiness to borrow and they havee banks to tap the window at least once a year and believe that would reduce the stigma at play here as well. david? >> thank you. let's stick with financials and that sector by the way less than half of a percent front fresh new 52-week highs as this comes as the group at least -- let's talk about what's ahead for the sector with the prospect of higher rates for longer and we bring in gerard cassidy, head of u.s. bank equity strategy. things are going okay for your group so far this year. what are you most worried about? >> david, the biggest risk for the banks as it's always been is credit quality. if this u.s. economy does not have a soft landing, the stocks are pricing in a soft landing, we believe the soft landing is coming, and if it doesn't happen and we have a hard landing that would be the biggest risk for the stocks. >> yeah. you don't see that happening, do you? >> no, sir. we do not. the soft landing, you look at the employment data, you look at the wealth of the country, y
yesterday michael barr said he's looking at ways to improve bank's readiness to borrow and they havee banks to tap the window at least once a year and believe that would reduce the stigma at play here as well. david? >> thank you. let's stick with financials and that sector by the way less than half of a percent front fresh new 52-week highs as this comes as the group at least -- let's talk about what's ahead for the sector with the prospect of higher rates for longer and we bring in...
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Feb 16, 2024
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i would like to quote specifically from vice chair michael barr who is leading the efforts on the basel iii endgame . he says the impacts are to be minimal and specifically he says quote, the phase in will allow apple times four banks to adjust the balance sheets and build capital overtime. in fact, most banks already have enough capital today to meet the new requirements. the message that the public is getting is that these massive regulatory proposals that they're putting forward with basel iii will have a minimal impact on your banks. i want to go back to the term everyone else is using, this anyone here believe that this will be minimal? raise your hand. i would like the record to reflect that no one raised their hand. no one believes that this will be minimal. in fact, one of the most infuriating patterns of behavior that i see in the regulatory class in washington is the unwillingness or refusal to take into account the effects of regulations. mr. diamond, your bank stated that the basel endgame would increase by $50 billion. there are real costs associated with this proposal. i w
i would like to quote specifically from vice chair michael barr who is leading the efforts on the basel iii endgame . he says the impacts are to be minimal and specifically he says quote, the phase in will allow apple times four banks to adjust the balance sheets and build capital overtime. in fact, most banks already have enough capital today to meet the new requirements. the message that the public is getting is that these massive regulatory proposals that they're putting forward with basel...
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Feb 26, 2024
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can the trump team barr michael cohen from testifying? >> no, >> that is a ridiculous >> request. they have to know that if you have a witness who you think is impeachable has lied or will lie. the answer is he gets to take the stand if one party chooses to call him and then the other party gets to cross-examine him vigorously, and then it is up to the jury to decide whether they believe or disbelieve that witness. there is no such such thing as a judge saying, i don't believe this witness. i think he's going to lie, therefore, he's off the stand. the da is going to call michael cohen. they will assume all the risks that comes with that. but it's up to the jury, not a judge. >> all right. elie honig, thanks so much. appreciate it. let's go to the 2024 lead, and let's cue the music yes >> the race for >> 2024 has moved to the critical battleground state of michigan. this is the first battleground state primary or caucus. let's bring in cnn's eva mckend, qizan, grand rapids, following the haley campaigns, it kristen holmes, of course, covers the trump campaign for us. kristen trump
can the trump team barr michael cohen from testifying? >> no, >> that is a ridiculous >> request. they have to know that if you have a witness who you think is impeachable has lied or will lie. the answer is he gets to take the stand if one party chooses to call him and then the other party gets to cross-examine him vigorously, and then it is up to the jury to decide whether they believe or disbelieve that witness. there is no such such thing as a judge saying, i don't believe...
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Feb 29, 2024
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at least initially, you had a problem because of bill barr.s, you know, a less-flattering answer with respect to the current department of justice' administration, because there was nothing that prevented the current doj from picking that case back up, in the same way that you and i and others have talked about merrick garland being slow to take up the january 6th case until really stepping on the gas, only after the january 6th congressional hearings. so a lot of what we're dealing with now, it doesn't excuse what the supreme court is doing. there are lots of others players to share in that blame, but the sort of having the moxie and the, you know, the sort of sang-hwa to basically say, you know what, i'm going to follow the facts where they lead and i'm going to do it quickly and i'm going to do it regardless of the political hit that i'm surely going to take in a town like washington is unfortunately, i think, part of the story as to why we are where we are. and i don't think you saw that either with d.a. vance, to be fair to him, as well,
at least initially, you had a problem because of bill barr.s, you know, a less-flattering answer with respect to the current department of justice' administration, because there was nothing that prevented the current doj from picking that case back up, in the same way that you and i and others have talked about merrick garland being slow to take up the january 6th case until really stepping on the gas, only after the january 6th congressional hearings. so a lot of what we're dealing with now,...