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Private sector economists, and members of the news media for this annual gathering. As you well know, it has been our custom for nearly four decades to welcome you to beautiful jackson hole, wyoming, part of the regions served by the kansas city fed. And i look forward to returning to that setting next year. With this years online format, instead of expressing my gratitude to those who travel from around the globe to attend this symposium while managing jet lag, i will offer my appreciation to those attempting to manage local time zones with the current time no ranges from 6 00 a. M. Thursday to 1 00 a. M. Friday. This year has been an extraordinary one for Monetary Policy and central banking. Many of the issues that we talked about for some time, including the low level of Interest Rates, slower case of growth, effects of heightened uncertainty, and how to effectively commu ....
Kansas citys economic symposium titled, navigating the decade ahead. Implications for Monetary Policy. Name is esther george, president of the kansas city fed. Im pleased to be joined by Federal Reserve chairman jay powell as well as many of my colleagues from the Federal Reserve and by other central bankers, academics, public and private Sector Economists and members of the news media. Foras been our custom nearly four decades to welcome you to beautiful jackson hole, wyoming, part of the region served by the kansas city fed. Returning forward to to that setting next year. Format, instead of expressing my gratitude to those who travel around the globe to attend the symposium while managing jet lag, i will offer my appreciation to those attempting to manage lo ....
Laura. Jim, one of those every now and then we get a day that is truly consequential and that certainly fits at least the expectations for powells speech. I wish that we hadnt come in so hot when you have a company that gains 50 billion in one day, salesforce, when you have a tremendous number of nasdaq stocks that have just kind of out of control to the upside you dont want to have anything that could disrupt that i think its heightened, im glad were covering every minute of t david, you know that this is a day that we would normally be talking about abbott labs and talking about the mysterious tiktok mayor issue which are both huge stories but we have to defer to jay powell. We do we have to defer to powell we have to continue to understand what the fed Balance Sheet will look like with that 3 trillion thats been added to it which is a staggering sum, guys jim, your point is well taken. Yesterday salesforce i have rarely seen any ....
Yesterdays market turmoil. Certainly, futures are doing better than the carnage of yesterday. Mohamed elerian will be joining us. We will get to dr. Elerian soon. What did you see in the literature overnight about able or a bear market reversal . Bearbowl a bull or market reversal . Jonathan the driver the last few weeks has been the sequential movement we have seen. The limits of normalization, the limits of recovery. Iec think several states in america this week, that is what to keep in mind in this market. What i found fascinating was the separation of Ig Investment grade from real, tangible carnage in high yield. First of all, oil prices are tumbling the most since april. That was the main driver of what we saw in the highyield space. All through the market, you saw this grab for cash. A return to what we saw in march. We saw the dollar surge and goal declining. People looking for cash to offset risk positions. ,t raises the qu ....
Since 97. The apple surge on track for what will be the best yearly stock rally in a decade. The company is in talks to buy japans displays primary smartphone screen factory. And tesla on a tear shares climb to above 430. The automaker expecting a rollout the first china made model 3s on monday there seems to be no stopping the year end rally stocks are on track to hit new record highs nasdaq as we said in the midst of the longest daily win streak since 09 after closing above 9,000 for First Time Ever. Watching 3249 as we said but 3259 would give you 30 for the year we only had two years in the past three decades with a 30 gain. Yeah, i mean the pace in the last i would say past couple of weeks has been relentless, sellers staying out of the way that has created this incremental move day by day. I do think we have this unusual situation where the year to date numbers are i dont want to say skewed, they are what they are, but it g ....