leave interest rates unchanged in june. leave interest rates unchanged injune. charles lieberman, who has worked at the new york fed and is now chief investment officer and advises capitol management explained the rationale. rationale. the fed has tightened rationale. the fed has tightened monetary i rationale. the fed has - tightened monetary policy quite dramatically quite quickly, basically a phase with five percentage point increase in a little more than a year. and thatis little more than a year. and that is huge. historically it is an enormous increase. and i think there is a loss of there is one view that the feds should wait to see the impact of what they ve done. any should wait to see the impact of what they ve done. any break ma be of what they ve done. any break may be short of what they ve done. any break may be short lived. of what they ve done. any break may be short lived. us - may be short lived. us inflation are still running well above the feds
russia s invasion of ukraine. we ll ask the head of the foreign relations committee, senator bob menendez, about what s next for the u.s. response to that crisis. in new york, the suspected gunman in a racist shooting in a buffalo store is in court this morning as they launch a probe into the suspect s social media footprint. we begin with the dire situation facing families across the country, the baby formula shortage. the president taking dramatic emergency steps, invoking the defense production act to ramp up manufacturing as two bills, one sending $28 million to the fda and the other expanding formula access for low income families make their way through the senate. nbc news is the first to obtain a letter from two senate democrats urging president biden to, quote, immediately assign a coordinator to work with formula manufacturers. meanwhile, any moment now, the fda commissioner is going to be testifying before a house committee where he s expected to be asked about ho
case we ve been watching closely, 13 states opposing the merger of t-mobile and sprint. the judge ruling in favor of the companies saying you can proceed with the deal and you can see the response in the marketplace, it s quite significant there is a look at judge marrero, federal judge the ratio was 0.0125 t-mobile shares per sprint share. april of 2018 when this deal was originally announced we may get to the two-year mark before they re able to close it. $6 billion in run rate synergies. present valued that at $43 billion at the time and again it was april 27th overall since then, so many different challenges have come along but this one being overcome perhaps is the most significant one and now is paving the way for these companies to get together. they re not quite there, not quite there as you take a look at the approval from judge marrero this morning and all the things that have happened on the way to that. of course the most important beyond today s decision was the
Is mediagetton still upon us. Disney posting mixed results. The details of squares ipo are out. And alibaba buying the youtube of china for 3. 7 billion. The story of the morning is the strong jobs number, including 268,000 private sector jobs added last month. 5 unemployment is the lowest since 08. Average Hourly Earnings up 0. 4. The numbers coming out two days before fed chair yellen indicated a hike in december was a live possibility. Earnings year on year, 2. 5. The biggest since july of 09. Weve been waiting for that number for a long time. Remember earlier this week i sa switched my posture and said bring the rate hike dollar. The dollar will be stronger than it is, and that will hurt the industrials. The banks will soar. Thats a huge part of the s p. It will be mixed for people who own stocks. Healthcare should go down here. The bank stocks, wow, they could carry the whole thing. Does it mean that 70 is being priced in for december . If they dont do it we keep talking about the
A tightening. We dont think theres an inflation problem or anything like that. On the one hand, asset purchases are still going to be continuing. Well still be building our Balance Sheet. The total amount of assets we acquire are probably more certainly monday than was expected in september 2012 or june 2013, so well have a very substantial Balance Sheet, which well continue to hold. And now weve clarified our guidance that we will be keeping rates low well past unemployment of 6. 5 . So, were trying here to get a high level of accommodation. It is true that the purchases are we view as supplementary to the Interest Rate policy. But again, the action today is intended to keep the level of accommodation more or less the same overall and enough to push the economy forward. Dow jones. In an earlier response you sort of laid out the argument or sort of explained why the committee didnt lower the 6. 5 unemployment threshold. Is that conversation over . Have you all put off the table changin