Policy play in preserving Financial Stability and how to ake sure that centralbank independence is preserved . Second, with increasingly complex financial interconnections, many small, open, and emergingmarket economies have found a challenging to deal with large changes in exchange rates. How can these economies retain Monetary Policy independence in uch a policysetting, and what tools should they use . Finally, the crisis has galvanized a broad effort to reform the global regulatory framework. There has been progress on various aspects, but much still remains to be done. How will financial regulations and the new structures of the Financial System affect the functioning of Monetary Policy domestically and abroad . To all of these questions, im sure some of you have the beginning of the answers. I know that our speakers will offer their proposals, but i hope that it begins here. Before i give the floor to chair yellen, it is my real pleasure to introduce the person to whom this lectur
Banking, payment, accounting, and financial infrastructures. The work was enormous. And here i must take off my hat to the exceptional dedication of the staff working in d. C. Then we had the asian crisis. It was a very different kind of episode. We had Central Banks there. They were severely tested in the affected countries. We had a few false starts in some cases. You may remember them pretty well. Also, decisive stabilization measures. More important probably are the lessons which were learned from them, by them and by the imf, in that occasion. One was that financial vulnerabilities can even be when macroeconomic fundamentals appear sound. This was the surprise of that moment, one of them. Another was that the risk from large and volatile capital flows create larger Foreign Exchange offers. We had some difficulty in convincing our membership that you had to add a zero to the numbers of our loans in several countries. We had some problems with that, but we did it. Then we had the ch
Impact that david was talking about. I think that theory would make more sense if they issued decisions on friday, which might get lost. But i dont think it applies to thursday decisions, which is what they typically do these days. That was good pr advice from the clerk back in the day, but i int inc. I attribute that dont think i attribute that to why monday. Gentlemen, you said something about the difference between being upstairs in the courtroom and downstairs in the press office. Can you tell us about what that differences and how you make the choice . I am in a lucky position that i have a partner who is very fast and handles our on the spot copy. Copy ofte he can get a the opinion, he runs to his terminal and types of what happened. He has prewritten what we call snaps which are like urgent lines that will go to our customers. That gives me the luxury of being in the courtroom. And i worked for usa today the washington post, i could do it all the time. But that was before we had
Saying all republicans are doing and look at this. Obama advisor Valerie Jarrett on her own desk. Get ready, two hours of Stuart Varney starts right now. Lets get right to. Checkable board. Lets check the big board. The s p is in record territory. Up fractionally but still in the green, that ten year yield back around and 2. 6, right there a three basis points. Jpmorgan chase Ceo Jamie Dimon announced diagnosis of wrote cancer but the condition is quote a curable. Those shares are fractionally off 1 . The rumor is they may take themselves private. There have been rumors for three years. Netflix continues on a roll. Another new high. Lets go to the Stock Exchange. Nicole look at netflix today. New highs, 475. 87, down slightly lower after hitting that record high but worth noting that it really doesnt get to this level today because of a goldman of grade. Goldman sachs upgraded Netflix Streaming internet and movies and the like to neutral. They also raised the price 590 from 380 easily
Focus today, the biggest names in Monetary Policy in paris for the International Symposium. Speakers include janet yellen, mark carney and kuroda. Lets bring in our chief economics correspondent on the ground. Simon, we talk a lot about divergence. How much our people worried about this on the ground . They are very much worried. Former elerian, the chief executive of pimco, talking to the conference moments ago and talking about this divergence. It is a big issue for the Financial Markets next year. We are seeing signs of that divergence within the last 24 hours. Just last week, the fed pulling back and ending quantitative easing. Divergence, a big theme of today. Who should be the most worried in all of this . Europe is a big factor. Also, kuroda is here. The bank of japan surprising markets last week. Have beenntral banks pointed in the same direction and now they are starting to move away. This is going to be a real challenge for investors next year to work out where the money is c