James gorman at Morgan Stanley said it was going to be about leadership tonight. Not so much what is the fed going to do at the meeting . What can we learn from these fed chairman about their policies and how they shaped u. S. Economic policy, but their thinking and how they built and consensus with other members of the fed . Chris that will be interesting. Volcker ran into some issues with the committee at one time where some of the people were voting against him. It is extraordinarily difficult. I remember what yellen said. I asked her one time, these people are saying this about policy and this. She goes, what can i tell you . We dont always sing is a chorus the same song, the same tune. Jobhas done a pretty good given that shes only been on the job two years. She seems to be quite a strong chair. Mark it was interesting because what i heard this event was going to take place and you and i were going to be up here, the one thing of wanted to try to get your thoughts on i am more int
In the early trade in the european markets right now, youll see that at least at this point, there are some red arrows there as well. Looks like the dax in germany is down by 0. 4 . Right here in the United States, it looks like the dow futures are now 71 points below fair value. S p futures off by 12. Among this mornings other top story, were watching the price of oil. Crude oil under pressure again today. This follows yesterdays drop of nearly 3. 5 . That drop came after opec said Global Demand for crude would be less than previously thought this year. In Corporate News, jpmorgan reportedly wants to sell new securities that would pass along the credit risk on 1. 9 billion in mortgages. This has been left to the government for the most part since the financial crisis. The wall street journal reports the bank is expected to price the residential mortgagebacked deal over the next two weeks. And apples response to the Justice Department is due today. This is the latest chapter in the dod
The nikkei was down by almost 600 points. Thats a decline of 3. 5 . Among some of the things that were cited was a weak Business Sentiment result from a survey from the bank of japan. Traders also citing weak earnings expectations in the United States. Again, 3. 5 decline. Its not our fault. Its japan. I think thats a little separate from what we see here. Call someone, what do you think . They just come up with that. They didnt hear it from a single trader, im sure. Oh, how about this . Well, you saw whats happening in europe. Theres a selloff under way there too. Some of the indices down by over 1. 5 . Again, whats happening here in the United States pales in comparison to all this. We only saw things down by 40 points here this morning so far. Lets give you a little wrapup on whats happening in the First Quarter. It is now officially in the books. It actually was a pretty stunning turnaround for stocks. The last time the dow had a gain like this in a single quarter was more than 82
But first, i want to take a cue from adam mckay who was the former lead writer for saturday night live, and he once said theres nothing that people love more than a Federal Reserve joke. [laughter] so i will tell you a joke. And it is a joke by a Federal Reserve chair, yam martin, who served from 1951970 under five president s. Yo i may have heard this before you may have heard this before, i be i i this but i think its worth stating. The job of the Federal Reserve, he famously said s to take away the punch bowl just before the party gets going. [laughter] so tonight were going to be learn the process of taking away the punch bowl or adding something to the punch in the bowl. Is so you heard in the video a little bit about this house. Its mission has always been about values, values that promote empathy, respect and moral courage among people and among countries. So theres no question that you could get some global perspective by taking an International Course at a university or colleg
I would say the general mood is not optimistic for major legislation. Will republicans be able to hold firm in the senate on the confirmation process . It sure seems like the Senate Republicans are not planning on changing their tune anytime soon. Every time that the white house goes out of its way to pretend that there is some sort of changing of the tide you immediately hear from senator mcconnell and judiciary chairman Chuck Grassley saying exactly the opposite. It doesnt look like anything is going to move on that until after the election. Thanks for being on newsmakers this week. [captions Copyright National cable satellite corp. 2016] [captioning performed by national captioning institute] which is responsible for its caption content and accuracy. Visit ncicap. Org] the book tells both the story of the fact that the manuscript, this national treasure, wasnt what we thought. While also trying to chronologically think about, what was madison encountering at the time . And keeping t