Atlantic council decided to give to a single commander, general eisenhower, sufficient authority to organize, equip, and train an integrated nato force for the defense of europe. The task before him was unprecedented. Though each of the nato countries would see to the supply and support of its own National Forces the Supreme Commander would be responsible for the coordination into a Single International force. And at 8 00 the changing of mary l discussion todd lincoln and why some of her critics labeled her crazy. For our complete schedule go to span. Org. Earlier today former Federal Reserve chair Alan Greenspan said extending the visa program may help increase productivity numbers. His comments came as he spoke at the council on Foreign Relations in new york city. This is an hour. Welcome, folks. Thanks. Welcome to you. Yes. A little work to do. Thanks for asking me to be in this great spot here moderating a panel with dr. Greenspan historic decision yesterday. Alan greenspan needs n
To the Market Reaction. The market seemed to rally on this news. Why do you think that was . Well, remember that this particular move was targeted way in advance, and the market had adjusted to it. The only question that was out there was what was going to happen subsequently that, not that you could actually make certain happen but with what the policy was. As it became apparent the fed was going to just raise the rates and then not do a whole series of rates, then basically the markets said uncertainty is gone. Therefore income earning assets go straight up. This is just a classic case. I ran into it many times in the sense that choices that we had were always, do you want the market to know exactly what the plans of the Federal Reserve are or not . It depended on a very, very technically difficult problem. How much risk do you want in the system . If there is too little risk, youre bubble creating. If theres too much risk, youre suppressing growth beyond what it should be. Part of F
For wilfred frost. Another busy morning in the Global Markets. We have it all covered for you. We start with breaking news from the European Central bank. Mario draghi has been speaking at the German Central Bank in frankfurt. Among the headlines here, draghi say, quote, theres no reason for Central Banks to resign their mandates simply because everyone is being affected by global inflation. Central bank speak for the risk of acting too late on ultra low inflation is greater than that of acting too early. Draghi suggesting a waitandsee stance could lead to a lasting loss of confidence. Seems like hes making a political argument here for moving further, something hes already hinted at doing in the march meeting in terms of easing to fight slow or no inflation. Hes mr. Whatever it takes. This guy will say whatever he needs to. Hes a big talker for sure. Staying on the europe theme, check out shares of Credit Suisse. The stock is dropping to a more than twodecade low. Theyre down 13 . The
Billion takeover. And a judge rules that uber drivers should be treated like employees for a moves that could have implications for the taxi apps Business Model and the sharing economy. In august, it could easily become a storm in september. That was a word from trading floors yesterday. A big sell off overnight on wall street but here on wednesday were looking at the wall street could see a rebound. The dow up 112 points. Has the tack up 38 in premarket and the s p 500 higher by 12. Lets just show you how markets performed on the first day of september. It was pretty much a blood bath. The dow jones losing 469 points. The worst start to the month of september since 2002. Being weighed down losing nearly 3 and the tech heavy nasdaq once again getting hit by shares of apple. Well below 5,000. Closing lower by 3 in yesterdays trade. Now here in europe it was that disappointing data out of china and the drop in Commodity Prices that sent period stocks lower in yesterdays trade as well we
Billion takeover. And a judge rules that uber drivers should be treated like employees for a moves that could have implications for the taxi apps Business Model and the sharing economy. In august, it could easily become a storm in september. That was a word from trading floors yesterday. A big sell off overnight on wall street but here on wednesday were looking at the wall street could see a rebound. The dow up 112 points. Has the tack up 38 in premarket and the s p 500 higher by 12. Lets just show you how markets performed on the first day of september. It was pretty much a blood bath. The dow jones losing 469 points. The worst start to the month of september since 2002. Being weighed down losing nearly 3 and the tech heavy nasdaq once again getting hit by shares of apple. Well below 5,000. Closing lower by 3 in yesterdays trade. Now here in europe it was that disappointing data out of china and the drop in Commodity Prices that sent period stocks lower in yesterdays trade as well we