Good afternoon, everyone. Thank you for coming. My name is ben harris, and as of this very morning, i am the Vice President and director for economic studies of the Brookings Institution. It is a true privilege and honor to have the opportunity to again be joined at this famed institution. There are many reasons why i found a return to brookings appealing, but a major motivation is events like the ones we are hosting today. Fdic chair marty gruenberg, who will be introduced by aaron klein and moments, was one of the key officials to help mitigate the fallouts if the Silicon Valley bank and Signature Bank failures early this year. We are very lucky to happen with us today. I suspect that this afternoons event must feel like a bit of a victory lap to the fdic chair given in 2019 he sadness very real and ward in great detail about the risk of failure by a large Regional Bank. His remarks, which are required reading for anyone trying to understand the issue, he warned of the risks posed by
Janai good morning, america. In the bullseye. Hilary ready to wreak havoc. The first ever Tropical Storm warning for california expected to dump the desert with a years worth of rain in just a day triggering lifethreatening flash flooding. Will wildfire danger. Evacuation orders expanded around spokane, washington. A fire exploding inside, and nearly 20,000 residents also fleeing their homes in canadas Northwest Territories with more than 200 fires burning sending the smoke south. Gio survival stories. How maui residents rushing to escape the flames helped friends and neighbors get to safety. Plus, intensifying efforts on the ground. Teams of First Responders and search dogs combing through the destruction. Janai no show . Reports that donald trump will skip the upcoming gop debate as the deadline moves for his surrender in georgia and his rivals take aim. Will historic summit. President biden hosting the leaders of japan and south korea. The agreements that expand security and economi
Theyve been attacking it from all angles, getting help from across the bay getting help from alameda. And yeah, just a difficult situation have to go through. But thankfully, crews have been able to have it contained and theyre expecting to work here throughout the night. Theyre hoping to be able to have it all under control by the end of the night. But they will be hanging out probably through the morning just to make sure that this fire is completely out. The fire chief right now says that they dont have a cause at this time, but they do not believe that it is suspicious. A fire investigators on tia is on scene here. The Hazardous Materials person is on scene here. Essentially what caused this fire . This is the explanation were getting right now is that it was a larger pile of scrap metal. That was laying there because of one of smiths larger shredder machines has not really been operational. So this large pile of combustible material has just been hanging out there for a while and
Good afternoon, everyone. Thank you for coming. My name is ben harris, and as of this very morning, i am the Vice President and director for economic studies of the Brookings Institution. It is a true privilege and honor to have the opportunity to again be joined at this famed institution. There are many reasons why i found a return to brookings appealing, but a major motivation is events like the ones we are hosting today. Fdic chair marty gruenberg, who will be introduced by aaron klein and moments, was one of the key officials to help mitigate the fallouts if the Silicon Valley bank and Signature Bank failures early this year. We are very lucky to happen with us today. I suspect that this afternoons event must feel like a bit of a victory lap to the fdic chair given in 2019 he sadness very real and ward in great detail about the risk of failure by a large Regional Bank. His remarks, which are required reading for anyone trying to understand the issue, he warned of the risks posed by
A veto. Inflation numbers out today show prices cooling overall but at a glacial pace. Meanwhile, consumers are racking up Credit Card Debt and dipping into their 401 401 k s at an alarming rate. Our economic brain trust is going to be here to to break it all down. Markets reacted this morning. Plus, weve got new details revealed about Hunter Bidens business dealings, and for the first time were going to bring you reaction from the president himself. And the fires roaring across hawaii already claiming at least 36 lives and has survivorses weighing the enormous costs of recovery. All that and much more coming up. Finish. Cheryl first to our top story today, markets rallying on todays inflation data. But consumers are fuming over something that wont even show up until the next report, and its the spike in energy prices. Gasoline prices, oil prices. Lets get the read from mayflower advisers managing partner larry glazer and luke lloyd. And, luke, to you first. This report was a little bi