Melissa right off the top, the new treasury or fed nominee will be former Larry Summers. What will he mean for your market and your money . Gerald odriscoll, former Dallas Federal Reserve Vice President joins us with his take. What do you think . I dont think it will be a big change. I dont think it matters much for Monetary Policy which candidate, yellen or summers got picked but i think it may matter for regulatory policy. Melissa why . Summers is perceived to be and i think is, pro large financial institutions. He thinks theyre good for the economy and efficient. Right now theyre getting roughed up by regulators and i think he might ease off on that. Melissa everyone is assuming this would be good for the big banks but do you think that is a safe assumption . We have a lot of evidence in that category. Larry summers if nothing else he is unpredictable. He goes with what he thinks at all times and youre not always sure what that is. Yes. I agree with you. But i certainly think that,
Melissa right off the top, the new treasury or fed nominee will be former Larry Summers. What will he mean for your market and your money . Gerald odriscoll, former Dallas Federal Reserve Vice President joins us with his take. What do you think . I dont think it will be a big change. I dont think it matters much for Monetary Policy which candidate, yellen or summers got picked but i think it may matter for regulatory policy. Melissa why . Summers is perceived to be and i think is, pro large financial institutions. He thinks there good for the economy and efficient. Right now theyre getting roughed up by regulators and i think he might ease off on that. Melissa everyone is assuming this would be good for the big banks but do you think that is a safe assumion . We have a lot of evidence in that category. Larry summers if nothing else he is unpredictable. He goes with what he thinks at all times and youre not always sure what that is. Yes. I agree with you. But i certainly think that, bas
85 billion a month Bond Buying Program in place hinting no qe timeline. Hinting higher Mortgage Rates is key factors theyre watching closely. They also said they were worried about does inflation. According to adp private sector jobs increased by 200,000 in july. Higher than most economic estimates indicated. Junes number was revised higher by 10,000. Gross domestic product expanded at a pace of 1. 7 from april to june. This beat expectations. Second quarter reading followed a downwardly revised 1. 1 for the First Quarter of 2013. So good for the moment but revised downward for the past. The president is going to nominate Federal Reserve sarah bloom rskin as the Treasury Department secretary. If confirmed she would be highest ranking woman in Treasury Department history. She would replace kneel wolin. Shares of air products and chemicals moving to the upside after activist investor bill ackman announced his firm had taken a 9. 8 stake in the company for over 2 billion. This is the firm