It also says it will purchase additional treasury assets as part of an accommodative policy. It repeat language from previous statements, where it sol it will use the full range of tools to support the economy the statement says weak demand and oil prices are holding down inflation, but the path principally depends on the virus. It says it poses considerable risk to the mediumterm outlook. There were two dissets, from the dallas and minneapolis fed, differences in what they wanted. Capellan wanted more flexibility. Let me tell you about the outlook for gdp. They actually dramatically well, they were looking for a 6. 5 gdp decline, now looking for a 397 decline they were looking for nine and change, now looking for 7. 6. Ill go directly to the actual table here and put my glasses on, and tell you what it says here inflation they have upgraded from 0. 8 to 1 mounta. 2 there it is, folks the path of policy 0. 1 for 2020, 0. 1 for 2021 0. 1 for 2022, and drumroll, please, 0. 1 for 2023 the
Why not, with the latest. Reporter why not. You heard it there, zero Interest Rates basically until through 2023. The Federal Reserve in their Committee Statement saying that they will maintain the accommodative stance until monetary policy, until their goals are achieved in the monetary policy. The Federal Reserve aims to have inflation moderately above 2 . To reach the two target a period of time. This is what chairman jay powell said what is moderate and for how long. Listen. We want to achieve inflation that averages 2 over time and if we do that, Inflation Expectations will be right at 2 and that will help us achieve 2 inflation over time and avoid the situation where the central bank loses its ability to support the economy. Reporter he would not define what moderate was, for how long. Powell fiercely defended Forward Guidance on rates being zero. The fed also made their economic projections, they revised it up. Unemployment rate 7. 6 . 9. 6 in june they thought. End of this year
Powell makes his strongest plea for greater spending. Stocks selloff into the close, and treasury yields slide. Christine lagarde warns of a cliff effect if fiscal aid is ended too soon. France downgrades fourthquarter growth expectations to 0 . On nightlife. Down the german capital joins paris, madrid and london setting a curfew for businesses amid a resurgence in coronavirus cases across europe. Lets look at german industrial output figures. Speaking of the economic engine of europe, august industrial output falling 0. 2 month over month, that is worse than the estimates for a 1. 5 percent gain. In terms of an industrial output, things do not look good. News lets get breaking here in london. Numbers coming through from various corporates including tesco. Up by 7. 2 , the estimate was 7. 3 . They werenting appointing a new cfo, who will join the board. I think we knew the previous incumbent was going to leave the business, and this new cfo interesting to see if they give any comment o
Behalf of the more than 19 Million People in our nation and half a Million People in michigan who show us every day what service and sacrifice and love of country is really all about. These patriots landed on beaches in normandy and their pacific theater, crept through jungles in korea, shed blood in vietnam, survived attacks in iraq, and fought terrorists in afghanistan. These people are heroes. They love our nation so much, theyre willing to put their lives on the line for our democracy, our people, and our way of life. Thats why it is so incredibly shocking and infuriating to hear the president of the United States, the commander in chief of our armed forces, disparage our veterans. President trump called them losers and suckers. Losers and suckers. He said he couldnt understand why anyone would join the military, because whats in it for them . He said veterans who have lost limbs shouldnt be in parades. Why . Because he couldnt handle seeing them, didnt think people would want to s
Good morning, and welcome to the San Francisco county Transportation Authority for todays meeting, tuesday, september 22, 2020, our clerk is ms. Britney milton. Could you call the roll. Supervisor fewer present. Supervisor haney present. Supervisor mandelman present. Supervisor mar present. Supervisor peskin present. Supervisor preston present. Supervisor ronen present. Supervisor safai present. Supervisor stefani present. Supervisor walton present. Yee absent, we have quorum. I would like to make an announcement about Public Comment. Public comment is available for each item on the agenda, via telephone by calling 14156550001 and when prompted entering access code, 146 226 7339. Once you join, you will be able to listen to the meeting as a participant. To make Public Comment on the item when the item is called, dial star 3 to be added to the queue to speak. The operator will advise that you will be allowed two minutes to speak. When the two minutes are up, well move on to the next cal