An aussie market, had a lot of conviction yesterday. It look at some of the other and allrtainly sterling this, perhaps some doubts about brexit again, if there will be a hard brexit. There are reports Boris Johnson is planning to legally block the brexit transition from extending past january 2020. Have at the moment unnamed sources, but theres always the risk of these losses being clawed back later in the day. , they havego, yields gone up to 1. 88, we were just that one point 87. The hong kong dollar is something david will tell us about in just a little bit. We dont often see that, do we . It is the fed, but it does not mean you cannot make money. We are on the longest rally in five years. Trade. Ly incentivizing the head of asiapacific microstrategy at state street markets, great to see you. We are climbing over walls of worry. What is the other wall ahead of us . We have a few. As we come into the latter part year, iear into next actually see we are in for another strong period,
California utility pg e said to be close to finalizing terms for a 13. 5 billion dollar payout to victims of wildfires sparked by defective equipment. Youre told it would pay half in cash and the rest in stock in the reorganized company, although no final agreements have been reached. Pg e shares rallied strongly on the news but are still down more than 50 this year. The owners of the new york mets are in talks to sell up to 80 of the major league franchise. Were told a deal would be valued at 2. 6 billion and set a path for billionaire steve cohen to take complete control after five years. Hes already an investor in the mets and has a net worth of more than 9 billion. Shery markets open in tokyo and seoul at the top of the hour. Sophie stocks are set to rebound after closing at a low. U. S. Futures little changed. Checking in on the end, Holding Steady while weakening to a twoweek low yesterday, snapping a fourday advance. They opened lower but could gain a 30year option come and. Whe
An examination of the federal housing administration. And its impact on homeownership in america. I now recognize, myself, to give an opening statement. Okay. There was a time, when i have a chase policies, explicitly denied access to the American Dream of Home Ownership. Two black families and people of color. Making only only on home a privilege, afforded primarily to white americans. Or contributing to the racial wealth gap as we know. It as of the third quarter, of 2019, the white homeownership rate is 73 compared to nearly 48 for that he knows and 43 for black home owners. Today fha plays an Important Role in the Housing Finance system. And is helping to ensure that access to homeownership is broadly available in in 2019 alone, they have over 615,000 borrowers become home owners for the first time. With over 33 of the markets endorsements serving minority borrowers and over half serving low to moderate income borrowers. Fha also plays a vital role in expanding access to affordable
Is to support outlook. To help offset the effect factors were curtly having on the economy and to promote a faster return of inflation to the percent objective. All of these objectives will support achievement of our goal sustained expansion closer objective for the benefit of the american people. We also decided to conclude the runoff of our securities portfolio in august rather than in september as previously planned. And i will discuss the thinking behind the reduction in turn to the pot forward. As the year began, both the economy and Monetary Policy were in a good place. The Unemployment Rate was below 4 in a are interestrate target was that the low ends of neutral. Over the first half of the year, the economy grew at healthy pace. And it pushed on appointment to near a halfcentury low. Wages have been rising particularly for lower paying jobs. People who live and work in low and middle income communities tell us that many who struggle to find work are now getting opportunities to
Welcome. Today to lower the target for the federal funds rate by a quarter of a percentage point to arrange 2 to 2. 25 . The outlook remains favorable, and this action is designed to support that outlook. It is intended to ensure against weak globalks from growth to help offset the effects of these factors currently on the economy. And to promote a faster return our 2 objective. All of these will support achievement of the overarching goal, to sustain the expansion with a strong job market and inflation close to our objective for the benefit of the american people. People. We also decided to conclude the runoff of our securities portfolio in august rather than in september as previously planned. And i will discuss the thinking behind the reduction in turn to the pot forward. As the year began, both the economy and Monetary Policy were in a good place. The Unemployment Rate was below 4 in a are interestrate target was that the low ends of neutral. Over the first half of the year, the ec