Present. Azalina eusope, here. Harrison is present. Hartwigschulman is absent. Commissioner simi is present. With three members present, we have quorum for the sanitation and streets commission. Public comment is taken for all informational and action items on todays agenda. To comment in person, we ask you please line up against the wall furthest from the door, the audience right, when Public Comment is called. For members of the public wishing to comment on items from outside the hearing room, you may do so by joining the webinar via the link shown on page 2 of todays agenda. And to be recognized, please select the raise your hand icon in the webinar. You may also comment outside from the chamber by dialing, 14156550001 and using the meeting id of 26620992831, , and to raise your hand to be recognized please press 3. The telephone log in information is also available on pages 1 and 2 of todays agenda. Commenters may speak for up to three minutes per item and youll receive a 30 second
Yesterday. 4. 23 . If you check out the price of copper, copper ended at the highest settlement since october of last year. This morning, it is off 1 . Watching that copper closely because it is a signal of expectations for global manufacturing. Japan central bank raising rates for the First Time Since 2007 and ending the other easing measures. This is the longest easing from any central bank. They were the lfirst to go in ad the last to come out of the easing. It raised the rate to 0. 1 . That was up from negative to 0. 1 . The yen trading at the lowest level of the year compared to the dollar. The central bank abolishing the yield curve control policy for japanese sovereign bonds. The central bank said it planned to purchase government bonds worth broadly the same amount as before. It will scale back asset purchases and qt. It is not really aggressive if you are talking about zero to 0. 1 . Backing away from the eightyear experiment. Experiments are not eight years. The new normal. I
Not . We do know that one billionaire has laid out plans to buy the social Media Company itf that bill becomes law. The fate of the social Media Company in the u. S. And the impact it could have on the upcoming elected. A meat makeover. A plantbased one, that is. The Company Moving into the red, not in terms of meat, in hopes of converting more carnivores. Dom chu with the numbers. Its red across the board right now, but we saw kind of both sides of that unchanged line overall. The way that we want to look at it, the s p is relatively stable. There are no records today, but were still within striking distance of those record highs especially forthe three major indices. The dow industrials down 141 points, 38,900. The s p 500 at 5142, down about 23 points or half of one percent. We were up 11 points in the s p and down roughly 27 at the low. Tilting to the lower end of that range, a similar percentage decline, down 69 points to 16,108. One of the things were watching with regard to the
The real departure point for normalization is july but later prayed the fed will be slow to lower Interest Rates. We are seeing the market fundamentally reassess the outlook for fed cuts for this year. This is bloomberg surveillance with jonathan ferro, Lisa Abramowicz and annmarie hordern. The first message i received in the commercial break, im going back to bed. Which i had a feeling some people would have that feeling. And massive week ahead. A recipe for a big week. Nvidia, the investors conference later this morning and a sprinkle of Central Bank Decisions. I cant get past this, capitalism will eat itself and all these interesting things. Becoming more dependent on the state for handouts. Lisa this is the reason why some of these big structural changes matter. The fed and the boj, the Central Bank Decisions are they losing the plot, are they losing the narrative, are they losing the economic trajectory being transformed by other factors including some technological shifts that wi
The most who are concerned about the up side risk a number were two sided and we learned for the first time in these minutes that couple participants, just people at the table there among the Bank President s, wanted to keep the rates unchanged so that they were not in favor of they were not voters apparently or if they were, they didnt vote what they said their concern was, wanting to keep rating unchanged. Going to on give you some positive comments and ill offset those with negative or hawkish comments on the dovish side, some saw signs that inflation could be softening. Continuing signs of supply and demand in labor coming into better balance tighter financial conditions were expected to slow consumption and gradual slowing appeared to be in progress in the economy. That was back when they met in july however, that has not been the case here are some of the negative hawkish comments they said real gdp demonstrated resilience that has been the case over the intervening period and th