entire calendar decade without a recession both milestones were reported today by the national bureau of economic research to be fair the expansion began at a very low point the end of the great recession and has been uneven with job growth slow at 1st and wages picking up later but things been booming since donald trump became president aided by his tax cut stimulus moves to slash regulation. one sign of that booming economy is that record breaking u.s. markets s. and p. 500 on friday hit a record high for the 7th straight trading session nikkei didn't get the memo however its shares did it despite a strong earnings report revenue for the 2nd quarter beat analyst expectations although gross margins didn't nike posted higher revenues from china spite being hit by u.s. tariffs as part of the trade dispute notably the company's air jordan brand its own milestone raking in $1000000000.00 in quarterly revenues. let's bring in our financial correspondent in new york ian's korda yes let's start with this milestone with the u.s. economy a decade without a recession how much longer can this go on. well what we sa

a new study from the national bureau of economic research finding small businesses in areas with a highaults and lower employment. one example seattle is set to boost its minimum wage above 16 bucks an hour starting january 1st. a single mom says she's lost her job and is struggling to find a new one as restaurants prepare for all of this. listen. >> i have a stressful time right now. at the first of the year, my restaurant that i've been working in for six years will be closing. my second job or former job that i had that i thought maybe i could go back and get some hours there, it's going to be closing at the beginning of the year, and the one interview that i got in the last couple of weeks, before i could even confirm that interview with the manager, that restaurant is closing as well. so all of this is due to the minimum wage increase, paired with other laws that are coming down through our city council. david: do the costs outweigh the benefits for higher minimum wage? what do you think, liz? >> we talked earlier in the program about the importance of people getting jobs. so nothi

critical of the other side here and you look at what has just been released by the national bureau of economic research i don't know if you saw this so i want to let you know. the bureau said that tariffs slapped by china on the u.s. , these were the retaliatory tariffs maybe we can put this up on the screen, the products of that cost the most effective communities here in the united states billions of dollars specifically in lost auto sales in 2018 as the hit to local incomes undercut household spending, and then they went on to say the most exposed communities which would be the midwest lost additional auto sales worth around 2 billion and that would be nationwide about 7 billion. we've got to get something done here. >> that's the ripple effect exactly what they are describing from tariffs particularly on agricultural communities on the farmers hit very hard by chinese tariffs on soybeans and corn and various other agricultural products, exports that hits those farmers and the communities those farmers and then that ripples through to car sales and other sales and people don't spend money, so yeah,

according to the national bureau of economic research, this is the first decade ever since they started that we have not had a recession. our data only goes back to the gdp accounts in world war ii created. 1940 --s back to the the 1840's. hello is that? -- how long ago is that? alix was watching tv by candlelight. if we look at that through the eyes of the misery index, which combines the consumer price index and unemployment, how much are we miserable about our jobs? we have not had this kind of performance since the 1950's. 1953 was the same time you saw unemployment, consumer prices, and the misery index that low. it has been great, except for one thing. we are not making a lot of money. yes, the median household income has been going up after a period of pause, and that is good news, but the rate of increase has gone way down. 1970's, ando the every year gets slower and slower. in the last two years it has fallen off again. we are making more money because the economy is baker and inflation has affected our paychecks, but we are not seeing growth in incomes the way we used to. ,hat

according to a paper from the national bureau of economic research, the study showing men benefit frommen have the same promotion rate regardless of the gender of their boss. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. i am viviana hurtado. this is bloomberg. alix: we have breaking news. the dow jones is reporting that the december tariffs will be delayed. u.s. and chinese negotiators are planning for a delay of the december 15 tariffs that were supposed to come on this weekend. markets moving, reversing any declines from earlier. s&p futures spiking and you are seeing the yield and the 10 year back to 1.82% and the dollar and the yen moved to the highs of the session. that is the breaking news from dow jones. reportedly those tariffs will be delayed and pushed back. we will give you updates as we go. we are seeing markets on the move. i want to highlight diversity in -- when itce, it comes to private equity it is still a man's world. only 8% of senior investment roles globally are occu

take as a final example, the findings from a recent national bureau of economic research study titledconsumer lending dissemination in the subject area. their weak researchers are determined whether an algorithmic system, and reduce discrimination in mortgage lending as compared to traditional face to face lending processes. their findings were mixed. yes they'll grab the system disseminate corporate 40 percent less than the traditional process but that also meant that the process still discriminated against black applicants. further even though the algorithm make did not discriminate in terms of loan approval, did discriminated against black in latin users in terms of price. one of the key conclusions of the studies states that both syntax and faith-based lenders, may discriminate in mortgage issuance, and pricing strategy. we're just scratching the surface and the the brawl of pricing strategy discrimination in the algorithmic date of daily use. in short, the lending may reduce lending, it will not eliminate discrimination and loan pricing. even with the date of fair and accurate tr

take as a final example the findings from a recent national bureau of economic research study titled "consumer lending discrimination in the fintech era" and there they sought to determine if an algorithmic system could reduce discrimination in the traditional mortgage lending than face-to-face, and the findings were mixed. yes, the algorithm mick was mic still discriminating against african-american and latin x applicants. and it did discriminate also in terms of price. one of the key conclusions of the study is fintech and other lenders can have issuance of pricing strategies, and we are just scratching the area of data use of algorithmic use. and so this may reduce face-to-face discrimination of lending, but algorithmic lending is not alone going to reduce discrimination. and even with the system, racial discrimination persists. thank you, and again for allowing me the opportunity to contribute to these proceedings. >> thank you. and dr. lopez loprada, you are invited to give your opening mark. >> good afternoon. it is an honor to be asked to testify in front of this committee tod

take as a final example the findings from a recent national bureau of economic research study titled consumer lending discrimination and the thin tech era. their researchers sought to determine whether an algorithmic system could reduce discrimination in mortgage lending as compared to traditional face to face lending process. their findings were mixed area the system gets discriminated 20 percent less but the process still discriminated against a large number of applicants. further even though the algorithmic system did not on balance effeminate in terms of loan approval it did discriminate against black and latin users in terms of price. one of the key conclusions of the study states that both thin tech and face-to-face lenders may discriminate through pricing stress, we are just scratching the surface of the role of pricing strategy discrimination and the algorithmic area of data use. in short algorithmic lending me reduce face-to-face lenders and it is not sufficient toeliminate discrimination and lower pricing. even with the aid of a fair accurate and transparent algorithmic sys