I would very much like to thank the Gabelli Center for Global Security analysis and our wonderful partners, the museum of American Finance and the cfa society of new york for cosponsoring todays conversation. One of the goals is to shine the light on the importance that history plays in shaping the future. In shennette garrettscotts latest book, banking on freedom, black women in u. S. Finance before the new deal, she explores a period of financial innovation and its Transformative Impact on u. S. Capitalism. Todays session will take place in three parts. First, my colleague and friend president and ceo of the American Museum of finance and we will introduce doctor shennette garrettscott. Then she will discuss her book banking on freedom following this discussion we will facilitate audience questions and we ask you type the questions in the q and a section near the bottom of the screen. Im also excited to share that as a participant of todays webinar will be entered into a raffle to wi
Surging this morning. Away from that, a jumble of news as we try to reframe for the second half of 2020. Francine we will look at the second half of 2020 shortly. Lets get straight to the bloomberg first word news. Morning. Accountd south america from is two thirds of a new coronavirus cases and the latest reports. The death toll in brazil has now passed 50,000. There were a record 4500 new cases until or near. Florida reported more than 4000 cases on saturday, also a record. Back in england, Andrew Bailey has signaled a major shift in the strategy for removing emergency stimulus. Tos stressing the need reduce the Central Bank Balance sheet before raising Interest Rates. He has an oped in bloomberg opinion. He says this would give them more firepower in future crises. The disappointing turnout at was just the latest warning sign for his campaigns. Criticismrshadowed by about the pandemic in the protest against police brutality. The president has fallen behind joe biden in National Poll
See the jobs report, francine. I see all sorts of numbers modeled. 6 rate be looking at the u. I do not see any forecast of where that statistic is going, but it harkens back to an american job economy of 1933. Francine we will have a big look on whether we will go back to those depression years. Lets get to first word news in london with leighann gerrans. Francine, andd, tom, as you were saying, todays jobs report expects to see the u. S. Unemployment rate surge to almost 20 last month after reaching the highest level since the Great Depression in april. The may report is likely to show the jobs slump has extended into whitecollar positions. By 7. 5s publicly shrank million positions. The jobs report comes out at 8 30 new york time. In buffalo, new york, two Police Officers have been suspended after a video of them pushing an elderly protester to the ground went viral. The video shows the 75yearold lying motionless with blood pooling around his head. Been hospitalized in serious condi
The group will hit higher in the third quarter. The question is still out how long it is going to last thats the real question we spoke to the former Vice President of the ecb as the central bank chief said she is undetoured by the Court Decision another member tells us the decision could have unfortunate consequences this could infringe in the end of independence of the ecb im not sure if it is laughable or serious and dangerous reassuring the markets and instability amid the outbreak in the plunge in the First Quarter profit the cfo tells us he expects an attractive recovery. With a sharp decline but not as sharp a recovery but more an elongated recovery thats what we are planning. Maximum caution is the latest message from the uk Prime Minister Boris Johnson as he prepares to announce a limited easing of the lockdown a very warm welcome to street signs markets this morning responding positively as representatives from china and the u. S. Have agreed to Work Together on the face 1 de
Knowledge. Today. David. W. Bush. The Us Federal Reserve cuts Interest Rates as expected but leaves investors guessing its further steps later this year but the lack of clear signs also upset President Donald Trump will have the details. And also on the show the federation of german industry speaks up against a hard break sit and urges london to stop what it calls disturbing politics. For business on the w. B. Im how you get us its good to have you with us the u. S. Federal reserve has lowered its benchmark Interest Rate for a 2nd time this. Here the Central Bank Hopes the quarter percentage point cut will help cushion the u. S. Economy against a global slowdown worsened by the us china trade war the move could help strengthen business fixed investment and exports which the fed says have weakened the u. S. Central bank has also faced intense pressure from President Donald Trump to cut rates amid washingtons ongoing trade war with beijing. And for more on the subject were now joined by