Secretary this week, sharing a bleak Economic Outlook if the u. S. Fails to act. Listen. Its an american tragedy, and its essential to move with urgency. Inaction will produce a selfreinforcing downturn causing yet more devastation. David meanwhile, novembers Unemployment Rate comes down to 6. 7 . Thats good news. But the new job numbers were disappointing, signaling that the recovery is slowing a bit. And no wonder considering the determination of some local and state leaders to keep people from resuming normal life with draconian lockdown orders that call for even more restrictions. Listen. Regions where the icu capacitity is falling below 15 , we are now mandating that we are implementing a stayathow many order for three weeks. David the nations economic fate really hinging on the period of delivering the covid19 vaccine. But a slight setback there as well as pfizer admit es theyll be slashing their vaccine rollout target in half after a supply chain problem. More on that later in t
Secretary this week, sharing a bleak Economic Outlook if the u. S. Fails to act. Listen. Its an american tragedy, and its essential to move with urgency. Inaction will produce a selfreinforcing downturn causing yet more devastation. David meanwhile, novembers Unemployment Rate comes down to 6. 7 . Thats good news. But the new job numbers were disappointing, signaling that the recovery is slowing a bit. And no wonder considering the determination of some local and state leaders to keep people from resuming normal life with draconian lockdown orders that call for even more restrictions. Listen. Regions where the icu capacitity is falling below 15 , we are now mandating that we are implementing a stayathow many order for three weeks. David the nations economic fate really hinging on the period of delivering the covid19 vaccine. But a slight setback there as well as pfizer admit es theyll be slashing their vaccine rollout target in half after a supply chain problem. More on that later in t
Why not, with the latest. Reporter why not. You heard it there, zero Interest Rates basically until through 2023. The Federal Reserve in their Committee Statement saying that they will maintain the accommodative stance until monetary policy, until their goals are achieved in the monetary policy. The Federal Reserve aims to have inflation moderately above 2 . To reach the two target a period of time. This is what chairman jay powell said what is moderate and for how long. Listen. We want to achieve inflation that averages 2 over time and if we do that, Inflation Expectations will be right at 2 and that will help us achieve 2 inflation over time and avoid the situation where the central bank loses its ability to support the economy. Reporter he would not define what moderate was, for how long. Powell fiercely defended Forward Guidance on rates being zero. The fed also made their economic projections, they revised it up. Unemployment rate 7. 6 . 9. 6 in june they thought. End of this year
Session with the dow plunges 406 points, the s p prlummets 1. 6 i an absolute nightmare. The house of pain but its good to have some cash so tonight, were holding a coronation because right now, cash is king. Our viewers know this market has been making me nervous for a while. Ive been telling you to take profits for the last three weeks. We have sold some of every single tech stock we know, including some very, very good favorites that you are aware of. Every single one, first time in 15 years because bulls make money, bears make money. But hogs, they get slaughtered i love these tech companies, but i looked at the Charitable Trust cost basis, i looked at the pricetoearnings multiples and said you know what we are out of our minds with greed youve got to be disciplined in my book, that means taking profits while you have them. Some of you will say this violates everything you heard about investing, buy and hold, think longterm. Or most recently, or i should say, stocks or stonks only
Monetary policy but says more can be done. A year after listing in hong kong, a Logistics Company discusses real estate, fund management, and the impact of covid19. We speak with the chairman later this hour. Haidi breaking news crossing the bloomberg when it comes to the pmi indicators out of australia. For augustumber still in contractionary territory at 49, better than the previous reading of 48. 1. The pmi composite number, a little bit of an uptick but still in contraction territory. It will be a while before we see a meaningful recovery given we are hearing in domestic media that the state for restriction law down in victoria, melbourne, and surrounding areas could be extended by another two weeks as we continue to get these numbers out of victoria. We have seen a jump about 100 new virus cases for the first time in three days. Another exuberant session for the u. S. Tech underperformed. The s p jumping the most in almost two months to another alltime high but interestingly, the