The president has arrived in japan for the g20 summit, just as he stepped off air force one the news broke that china has established its negotiating position in the trade talks. Remove restrictions on huawei, remove all tariffs. Thats a hard line. Trump meets xi on saturday. Im going to call it a flat to slightly higher market. Any loss for the dow is accounted for by boeing, which is down sharply because of new problems with the max jet and look at that nasdaq go, up half a percentage point. Big tech doing well this morning. Theres a story on bitcoin. It hit 14,000 overnight but the Coin Base Exchange crashed. When that happened, bitcoin fell sharply, currently is down to 11,700. Just look at how amazon has changed the world. Their prime days dominate the summer selling season. Now we are seeing target, ebay, walmart and others join the club, jumping on amazons band wagon with a ton of special deals of their own. Thursday, june 27th. Varney company is about to begin. Who here would a
Up next remarks from bank of america Ceo Brian Moynihan on the state of the economy in the us financial system. Other topics include capitalism and crypto currency as well as banking trends among millennials and jens hes, this is hosted by the city club of cleveland. Good afternoon, we are devoted conversations of consequence that help democracy thrive. It is thursday, june 29th. Im the chief executive here, daniel moulthrop. Im here to introduce our speaker, brian moynihan, ceo of bank of america. The country and world grapple with the aftermath of the pandemic, inflation, supplychain disruptions, the Banking Industry has felt its share of volatility. In march, several small to midsize banks failed leading to a chain of events we refer to as the 2023 banking crisis. On top of this, the widespread calls for increased equity, access to economic opportunity, increasing reliance on emerging technologies, evidence the world of banking and finance is changing quite a bit. Brian moynihan bec
Good afternoon and welcome to the city club of cleveland where. Im the chief executive here ad its my privilege to introduce our speakertoand to ask him a few questions as well. Brian moynihan, the c. E. O. Of bank of america. As the country and world grapple with the aftermath of the pandemic, inflation, the Banking Industry has felt its share of, well call it volatility. In march, three small to midsized u. S. Banks failed, leading to a chain of events that we now refer to as the 2023 banking crisis. And on top of this, add to this the widespread calls for increased equity, access to Economic Opportunity and the increasing reliance on emerging technologies, its evident that the world of bank and financial is changing quite a bit. Brian moynihan becamed c. E. O. Became the c. E. O. In 2010 which feels like a century ago. It was a long time ago. Its the Second Largest Bank in the u. S. Youre all wondering whats the first, its jpmorgan chase. He lead as team of approximately 215,000 emp
[announcer] firing line with Margaret Hoover is made possible in part by robert granieri, charles r. Schwab, the fairweather foundation, the margaret and daniel loeb foundation, the asness family foundation, jeffrey and lisa bewkes, the beth and ravenel curry foundation, peter and mary kalikow, and by Craig Newmark philanthropies, the rosalind p. Walter foundation, damon button, the center for the study of the International Economy inc, the Pritzker Military foundation on behalf of the Pritzker Military museum and library, and the mark haas foundati. Corporate funding is provided by stephens inc. Felix salmon, welcome to firing line. Thank you so much. As of this week, the Covid Public Health emergency is officially over. That is, the Emergency Declaration issued by President Trump has now expired. Took three years and 100 days. And 1. 1 million deaths. Right. You write in your new book, the phoenix economy, that the lasting changes from the pandemic are still with us. And will be for
The discussion hosted by the Brookings Institution is about an hour. [inaudible conversations] ladies and gentlemen, if everybody would take a seat we are going to get started. Everybody just wants to grab a chair. We would like to run on time here. When the Founding Fathers sat down to write the u. S. Constitution in the summer of 1887, they had been scarred not only by war but by a series of failed monetary experiments with paper money issued by the states and the continental congress. The scars of those battles are written on the pages of the constitution itself that has a narrow view of what money is. That viewic basically saw legal tenderness gold and silver coins. At the moment there were three banks in the entire United States. None played a prominent role in the money supply. Gold and silver coins, no banks. Think of how we come the last 200 years. Theres a lesson about the durability of money and payments that i think is important to understand for this next panel. In the firs