Reporter according to sources familiar with matter phase 1 trade deal between u. S. And china has been described as imminent and done. A Chinese Government the source telling fox business that President Trump agreed to not impose tariffs that were to be put in place sunday. It is important to stress, weve not heard a announcement or direct confirmation atthispoint from either President Trump or the white house. And cone versely as well, federally on thofficially from e government. There was a high level meeting here at white house this afternoon that has since wrapped up. President met with his trade team, president teed up that meeting in the day, by saying there was potentially a deal in sight, tweeting get very close to a big deal with china, this morning, president before the cameras remained tight lipped. We wont talk about china. Were working a deal with china. I wouldnt say up until now they have loved me. Reporter bottom line, we have been told until this deal, phase one deal,
Participants raised their hands and said yes. Thats an arguable position. There are arguments for and against that. But the first question you need to answer in this as in any other policy proposal is what is this going to cost. And there simply hasnt been very much interest or exploration in this question x. So thats why were releasing the two papers were releasing today and having this panel discussion, is precisely to get a sense of what it could cost us. Not definitive, these are estimates. Maybe theyll be different. Other people have other estimates. Wed love to see them, but nobody really has offered some concrete examination of what the consequences for taxpayers would be of these proposals. And so today were going to be, were releasing two papers to look at that. The first is a look at what the current cost to taxpayers are of, under current policy. The second is what the likely under a couple different scenarios costs would be. And this is a topic that needs to be injected int
Making money charles we came out of the gate strong but stocks hard to find their feeding when the white house is considering limiting chinese participation in stocks. Steve moore and heather zumarriaga. Steve moore, i think its a bad idea. I know some of these are flaky names on here but to reverse this right now, were talking about one trillion dollars worth of stocks on u. S. Exchanges. Yeah. I was caught by surprise. I didnt know this was coming, charles. I think everybody is a little bit surprised by it. I think what it signifies, i think the reason the market has reacted negatively that trump is tightening the screws here. Instead of getting a deescalation in the trade tensions, unfortunately looks like were seeing further escalation. My view, as soon as you get a trade deal the American Economy and stock market go through the roof. That is it what everybody is waiting for. This is meant to tighten the screws on beijing, get them to come back to the bargaining table to make a dea
Highlights rebounding from covid19 and Silicon Valley bank which was under the regulation of the San Francisco Federal Reserve. This is just under an hour. Good morning im director of the hutchens center at brookings i want to welcome everybody and pleased to have mary daily, president of the Federal Reserve bank of San Francisco with us today and mayor daily an economist joined the San Francisco fed in 1996. And she worked on a number of issues labor market dynamics, inequality and throws to be director of research and became president in 2018. Now shes one of 12 reserve Bank President s. And except for new york, the other 11 are sort of considered the same. But mary daily has the distinction her district because we do the lines in 1913 represents fifth of the nations population but unfortunately for her they dont do population waiting when you vote on the f1c. Maybe they should. [laughter] so president i wanted to start by talking a little bit about how do you read the economy right
Mr. Wessel good morning. Im david wessel, director of the Hutchins Center here at brookings. I want to welcome everybody and i am very pleased to have mary daly, the president of the Federal Reserve bank of San Francisco with us today. Mary daly, who is an economist, joined the San Francisco fed in 1996, and she worked on a number of issues, labor market dynamics, income inequality, and rose to be the director of research and became the president in 2018. Now she is one of 12 reserve Bank President s and, except for new york, the other 11 are sort of considered the same. But mary daly has the distinction at her district because we drew the lines in 1913, which represents a fifth of the nations population. But unfortunately for her, they do not do population weighting when you vote on the fomc. Ms. Daly no, but maybe they should. [laughter] mr. Wessel so, president , i wanted to start by talking a little bit about how do you read the economy right today, and there seems to be a sense in