Marylands governor overruling Health Officials on keeping private schools. Public schools you can do what you want. When it comes to private enterprises or schools, that is a step too far according to the governor. Seattles police chief says the city needs to intervene when protests get out of control but the emphasis was on the city doing so, not federal operatives. Well get the latest on that. Meantime to chad pergram on the back and forth in those coronavirus stimulus talks. I guess the good news, chad, is that theyre talking, right . Reporter thats right. They continue to talk but there is a chasm of difference here between the sides. Theyre talking about unemployment insurance. Theyre talking about extra money for schools, how they reopen. Theyre talking about state and local government money. Theyre talking about money for the postal service. That is a big ask about it democrats. Senate minority leader, house speaker, they have been in the house talks more than a week. They met o
Madeleine albright say she is not sure the british people understood what they were voting for when they decided to exit the e. U. Albright told bloomberg one world leader is happy with the outcome, vladimir putin. Mr. Putin is very pleased with what happened with brexit. This works to his advantage because one of his agenda items has been to cause this reduction within the European Union, to make sure it splits apart. Mark albright says nato will continue to be the stabilizer in europe. Global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. I am mark crumpton. Bloomberg west is next. Emily i am emily chang and this is bloomberg west. Coming up, the brexit vote and backlash. We will find out what it means for investors. Plus, the largest tech ipo of the year shedding its price range off brexit concerns. We will dig into implications ahead. We will hear from megan smith on how the white house is making it easier for to bring their ideas
Being against a rate hike and accepting its not inevitability are two very different things. We need to understand the difference. While you may not like it, you need to start accepting it. First, he get that we cant have ultralow rates forever, even if theyre good for the stock market for the duration. Eventually too much money chases too few goods and we get inflation. Inflation is pernicious. There are reasons weve never had ultralow rates forever. It has to do with the inevitable debasement of our money and dramatic decline in our purchasing power. The fed has two mandates, promote an environment for an flourishing economy, and the second to avoid inflation so people cant keep up with the rising price of goods. I certainly am not in favor of turbo charged inflation. However i am concerned that the first mandate might be upended by higher rates. Right now, after that barn burner of an employment number last friday, its difficult to fret over job losses. Ive been worried about the pr
Turbo charged inflation. However i am concerned that the first mandate might be upended by higher rates. Right now, after that barn burner of an employment number last friday, its difficult to fret over job losses. Ive been worried about the precariousness of our trading partners like china. But china is back in bull market mode, even if the strength is in consumers and not industrialrelated. The data out of europe is pretty strong, that i follow. We know a lot of the strength comes from weaker euro. Companies that sell in europe rows are taking share from american competitors. Thats decidedly bad. But to worry about china or europe, that seems wrong. There will be negative reverberations in emerging markets. Thats a given. Theres always people caught up about a rate hike. But these ramifications are inevitable and youll hear about them every day for weeks on end. Most important, i believe the dollar will soar on a rate hike, causing the exports of our companies to decline dramatically
We need to understand the difference. While you may not like it, you need to start accepting it. First, he get that we cant have ultralow rates forever, even if theyre good for the stock market for the duration. Eventually too much money chases too few goods and we get inflation. Inflation is pernicious. There are reasons weve never had ultralow rates forever. It has to do with the inevitable debasement of our money and dramatic decline in our purchasing power. The fed has two mandates, promote an environment for an flourishing economy, and the second to avoid inflation so people cant keep up with the rising price of goods. I certainly am not in favor of turbo charged inflation. However i am concerned that the first mandate might be upended by higher rates. Right now, after that barn burner of an employment number last friday, its difficult to fret over job losses. Ive been worried about the precariousness of our trading partners like china. But china is back in bull market mode, even