Jonathan good morning good morning, this is bloomberg surveillance. Alltime highs on the s p 500 and nasdaq 100. You have the data, here comes the fed speak. All on deck following the softer than expected inflation rate. Lisa we have heard hawkish speak even from jay powell saying it hasnt come down as quickly as we would like an the market said we dont believe you and we dont care. Even eight 1 10 of a percent miss in terms of the cpi is enough to bring back the prospect of a september rate cut. Jonathan the rate cut talk simmers into the summer. We had another read on cpi the same day as the next fed decision june 12. Another read in july and another at the end of july. Is that enough time to have the conversation about a rate cut. Annmarie neel said it is unknown in terms of how much downward pressure there is on the economy and that tells me we need to sit here for a while longer. He was Neel Kashkari said it is unknown terms of how much downturn pressure there was on the economy a
Now lets start with leadership. First of all, Political Leadership is critical to moving the ball forward in this city. And we want to really thank the mayor and we want to thank the board of supervisors for working together politically to sustain these programs because its taken about five years for us to get to this point. And that could not be done in isolation. So thank you , madam mayor. Thank you, jonah ortega, coeur dalene gang. But we also want to thank our city departments and the leaders from our city departments for the collaboration that theyve done in getting this program to where it is. We want to give a big, big thank you to the Housing Authority led by tanya liturgy and chaired the commission chaired by Joaquin Torres. Thanks for coming out today. We want to give a big thank you to the Mayors Office of housing, eric shaw. And of course, we want to thank the department of building inspection. Who in many ways built the foundation for this program over the long term. All
First rate cut expected. We will bring you the comments of Andrew Bailey. And the chip designer arm faces a disappointing forecast with fears of slowdown in a. I. Demand welcome to street signs. We open with the spanish banking saga bbva is making a hostile bid for the rifleval with the deal rejed by sabadell board. The Spanish Government says it opposes the move and the proposed merger could create a financial instability. The deal with the two businesses makes sense to bbva and it is an attractive deal. We heard from the ceo yesterday who said there are challenges to domestic consolidation in the Banking Sector this is difficult to make a friendly transaction if you are in a position to be a 50 million euro market cap. This kind of transaction usually goes through a tender offer and probably more style than friendly that is how you do a deal. That is the reason p why it is o easy to do a consolidation this is something that is not so easy to do thats also what you have to remember at
For members of the public, theyd like to make Public Comment regarding line item one, please approach the podium. Good afternoon. My name is dr. Miller. Im a long time resident of San Francisco and im here on behalf of the disabled community and many patients that ive had in regards to the ongoing ada violations on the city sidewalks. Im sorry, general Public Comment will be called next. This is just on line. Item one, the officer recognition. Oh, im so sorry. Im jumping the gun. Well, i want to also thank the recognition for the officer who did an excellent job. And i spent many years at San Francisco general helping helping you guys and gals out when you guys have been in crisis. So again, thank you to him. And ill come back and share my concerns in a minute. Thank you all. Thank you. Thank any other member would like to make Public Comment regarding line item one, please approach the podium and there is no Public Comment. Line item two general Public Comment at this time, the public
They finally got haengjeong. All they got. Seng gung ho, seng gung seng, the whole dog. Hi, fellow. Go july, get jesse fuller to the tilings. Like you. Now lets start with leadership. First of all, Political Leadership is critical to moving the ball forward in this city. And we want to really thank the mayor and we want to thank the board of supervisors for working together politically to sustain these programs because its taken about five years for us to get to this point. And that could not be done in isolation. So thank you , madam mayor. Thank you, jonah ortega, coeur dalene gang. But we also want to thank our city departments and the leaders from our city departments for the collaboration that theyve done in getting this program to where it is. We want to give a big, big thank you to the Housing Authority led by tanya liturgy and chaired the commission chaired by Joaquin Torres. Thanks for coming out today. We want to give a big thank you to the Mayors Office of housing, eric shaw