Shrinks, but it doesnt set the u. K. Up for a good spot Going Forward. We are seeing the relationship between fiscal and Monetary Policy really evolve the u. K. We will break that down over the next few hours. You are seeing bond markets bid across the board, as we are koff develop. We want to kick it off with Michael Mckee. Theld central bank mike,entral banks if i say mmt, am i wrong . Anyway. Yeah, [laughter] its confusing, though, what is going on with the economic philosophy called mmt. Yes, it is unlimited cash in unlimited amounts for unlimited periods of time until we get through this. Youre still going to work your tail off today before we get to 4 00 p. M. Lets start in london come over the bank of england is going to finance Government Spending for the time being by lending money directly to the treasury. It is called the ways and means facility, a shortterm credit the last used during great financial crisis. Government and the bank say any borrowing will be repaid by the en
Im lindsay reiser. Good to be with you im Francis Rivera a world in the wake of the coronavirus since the beginning of the outbreak. There are more cases outside of china than inside the country where the outbreak began in the united states, there are over 3,000 cases and here is what we know. Americans are going to hunker down even more after the cdc urged against gatherings of 50 people or more for the next eight weeks. In an effort to slow the spread, officials in california, ohio, illinois, massachusetts, and washington are closing down bars and restaurants. Tom hanks shares an update from isolation. He is thanking all the people that are helping him battle the virus. After he and his wife tested positive the couple had been in isolation at Gold Coast University hospital in queensland, australia. Meanwhile, lady gaga revealed shes gone into selfquarantine. The grammy Award Winning artist shared a post on instagram saying its the healthiest thing she can do she encouraged fans to be
In a newncanguage like spanish, fh, german, els 10 to 1s are available as an more information on, babbel. Com. The freeman foundation. By judy and peter kovler foundation; pursuing solutions for americas neglected needs. And by contributions to this pbs station from viewer you. Thank you. Announcer and now, bbc world news. Off the coast for a of days. It is coming into port in san francisco. All of the people on board will be quarantined. We will look at the president ial response to the crisis more broadly d update you on what the w h who has been saying. They said that the outbreak has been close to a pandemic. This coronavirus outbreak is now testing, economialth systems and governments arounde pdates from italy, the u. S. , ireland,hina, the u. K. And elsewhere. The number of cases worldwide in more than 110,000. The death toll is close to 4000. 60 people have recovered. Hewe will haveatest on the virus spread ia moment. This is not just to health crisis, it is an economic crisis a
From the honorable randal quarles, Federal Reserve vice chairman for supervision; the honorable jelena mcwilliams, chairman of the fdic; and the honorable rodney hood, chairman of the ncua. Welcome to all of you. This hearing provides the committee an opportunity to examine the current state of and recent activities related to the regulatory and supervisory activities of these agencies. It has been over a year now since the enactment of s. 2155, the Economic Growth, regulatory relief and Consumer Protection act, and the work of the agencies to implement most of the laws provisions, including the tailoring rules for u. S. Banks and u. S. Operations of foreign banks. Your agencies should also carefully review the existing supervisory frameworks and make any necessary adjustments to appropriately align them with the tailoring rules and requirements. On july 30, 2019, all of the Republican Banking Committee members and i sent a letter to the federal banking regulators urging your agencies
Our bloomberg voices are on the ground with this mornings top stories. We begin in asia. Chinas economy stabilized last quarter, showing greater than expected strength if december. Fourth quarter g. D. P. Rose from the year earlier. Joining us now on the phone from beijing is james, bloombergchina economy editor. Walk me through the details and where the question marks are still Going Forward . Reporter looking at the data that came out today, it really was a surprisingly strong finish for 2019, for chinas economy. I think if we look past the g. D. P. Numbers, chinas g. D. P. Is more a political target than a real indicator of whats going on. If you look at the retail sales, Industrial Production and fixed investment numbers, there was a bit of a rebound in december. Sort of ending the year on a high note. A part of that was, i think, the chinese numbers efforts to sort of support companies is working and also i think the optimism you may have seen in december from the signs that the t