Fed set 2022 and what the chairman will say and what i assume will be a Virtual Press conference today. Ofncine we will have plenty market action. We will look at the markets every 15 minutes, including what is happening in treasuries. We had the oecd coming out with their economic outlook. That was released about an hour ago, and the oecd, it is a smarter way of doing it, tom. Forecasting the pandemic would cause a Global Economic slump of 6 here, but if there is a second wave, that becomes a seven point 6 slump. It is a good way of visualizing percent comes a 7. 6 slump. By thewas taken aback differentials between the bar charts of europe and the United States. I did not have in my head how much worse the guesstimate is for gdp decline in the europe verses in the u. S. It is a very good report. Francine it is also because of where europe was in the economic cycle. Lets get straight to first word news in new york city with ritika gupta. Ritika good morning. A warning from jeffrey gund
Now. Welcome g. To have you with us on this monday. Our Investment Committee at the table today. Also with us on set with the jp morgan. Good to have everybody here today. We begin with stocks. The s p up three straight weeks. Is this the week that ends it or prolongs it . I dont know that it exits. Obviously, we have the fed this week. There are all kinds of different news stories in front of us this week as we speak. I dont think this is something that absolutely derails us. When you look at personal spending and what goes in from the oil trade perspective, its very small. I think we are able to get back up and running faster than folks think. Today the big spike has everybody a little flustered as you get a big move in wti over 61, thats a big move. We have volatility that remains really, really low. I think that speaks volumes about what people are thinking right now. With the market down 100 and change and the volatility is not spiking to the upside after the big hard hit to the d
Of course, so i think we are a long way from that. Digital currencies are in their infancy. So essentially, not too concerned about, you know, the Central Banks no longer being able to carry out Monetary Policy because of crypto currencies or digital currencies. You know, facebook, i believe, has made quite broad rounds around the world, really, with regulator regulators, supervisors and lots of people to discuss their plans and that certainly includes us. And its something we are looking at. We meet with a broad range of private sector firms all the time on Financial Technology and theres just a tremendous amount of innovation going on out there. The potential benefits here, there are also potential risks, particularly of a currency that could, you know, could potentially have large application. So i would echo what Governor Carney said which is we will wind up having quite High Expectations from a sort of safety and soundness and regulatory standpoint if they do decide to go forward
Maria good thursday morning, everybody. Hangs very much for joining us this mornings. I hope youre having a good morning. Im maria bartiromo. It is thursday, october 5, 7 00 a. M. On t east coast. Former President Trump is slamming the Biden Administration after Alejandro Mayorkas announced there is an immediate need to waive dozens of federal laws to build more border wall. Trump says biden sees our country as being invaded. What will he do with the people that are already here. The Biden Administrations move is a complete 180 from what President Biden said on the campaign trail back in august of 2020 and what hes been saying ever since. Watch. Trump campaigned on build that wall. Are you willing to tear that wall down. There will not be another foot of wall constructed in my administration. Maria what a reversal, todd. Do you believe it . Are they really going to put theres all that material sitting on the ground in texas, right . And a its already been paid for. I believe theyre goi
Part of ceos, certainly what we heard from starbucks last night that the consumer is becoming more cost conscious. The effect of higher rates, the effect of inflation is real. Its impacting lower income lower income consumers, and i dont think without question you could avoid that ultimately what does that mean i know some people have suggested, well, maybe the Federal Reserve puts on the table a possible one more ratea and ultimately what they deliver to markets i dont think is going to be too disruptive and send the market into a deeper decline. Sounds like what are you saying, the bullish story is over the Firm Landings here . I think the firm landing actually benefits. I think the firm landing benefits the premise that accommodative Monetary Policy is closer than we think i actually think you get the rate cut at some point in 2023 will we get it for the wrong reasons . I take what he said the other way. I get that hes saying thats not going to drive the market lower, the fed to. An