Of china casting a dark cloud other its economic output. Industrial production, meanwhile, coming in weaker than expected and, oh, yes, china unexpectedly cutting rates by 15 basis points. All kind of negative headwinds. Now on the other hand, strong data guest canically not helping Investor Sentiment either. Retail sales rose more than expected showing that the consumer here in the u. S. , very resilient. But you know what thats codes for, yep, the feds could have to keep rates longer for high higher can higher for longer, rather. [laughter] Neel Kashkari saying today we are, quote, a long way from cutting rates. Oh, great. Those higher rates, however, certainly have proven burdensome to banks. Today Credit Ratings company fitch warning it may have to downgrade several u. S. Banks including jpmorgan, the big financials all moving lower on that warning as you can see. Morgan stan hi down 1. 33. Morgan stanley. Regional banks also seeing declines on worries over tighter regulation, toda
Getting a significant reduction in their pension he or they wont have supported this were retired and dont have to worry about it but our brothers and sisters that are working in the staff will probably want to know why their pensions are effected. Is that a question or comment for russel. Seeing none, no other Public Comment ill close. The calory k chairing will entertain a motion of adaptation and participation recommendations ill move it. Second. Discussion on the motion seeing none, all in favor, say i. I. Passes unanimously please call item 11. inaudible world core entity within the teetering a target. The chair will accept it as explanatory ill open it up for another motion. Recommendations. I move we accept this funds. Ill second it. Great discussion on the motion . Seeing none, ill open up for Public Comment welcome back commissioner melberger. Just to get a braider mandate is that the purpose. Ling les low when we made the recommendation to get properly capitulated endorse thr
Novelist aware they would be getting a significant reduction in their pension he or they wont have supported this were retired and dont have to worry about it but our brothers and sisters that are working in the staff will probably want to know why their pensions are effected. Is that a question or comment for russel. Seeing none, no other Public Comment ill close. The calory k chairing will entertain a motion of adaptation and participation recommendations ill move it. Second. Discussion on the motion seeing none, all in favor, say i. I. Passes unanimously please call item 11. inaudible world core entity within the teetering a target. The chair will accept it as explanatory ill open it up for another motion. Recommendations. I move we accept this funds. Ill second it. Great discussion on the motion . Seeing none, ill open up for Public Comment welcome back commissioner melberger. Just to get a braider mandate is that the purpose. Ling les low when we made the recommendation to get pro
Specifically inaudible to 55 is that possible to get a better explanation im trying to figure out if this is moving people out of the benefits to assigned contributions or why theres a significant reduction in the pension benefits because i think those supported prop c were novelist aware they would be getting a significant reduction in their pension he or they wont have supported this were retired and dont have to worry about it but our brothers and sisters that are working in the staff will probably want to know why their pensions are effected. Is that a question or comment for russel. Seeing none, no other Public Comment ill close. The calory k chairing will entertain a motion of adaptation and participation recommendations ill move it. Second. Discussion on the motion seeing none, all in favor, say i. I. Passes unanimously please call item 11. inaudible world core entity within the teetering a target. The chair will accept it as explanatory ill open it up for another motion. Recomm
Novelist aware they would be getting a significant reduction in their pension he or they wont have supported this were retired and dont have to worry about it but our brothers and sisters that are working in the staff will probably want to know why their pensions are effected. Is that a question or comment for russel. Seeing none no other Public Comment ill close. The calory k chairing will entertain a motion of adaptation and participation recommendations ill move it. Second. Discussion on the motion seeing none, all in favor, say i. I. Passes unanimously please call item 11. inaudible world core entity within the teetering a target. The chair will accept it as explanatory ill open it up for another motion. Recommendations. I move we accept this funds. Ill second it. Great discussion on the motion . Seeing none, ill open up for Public Comment welcome back commissioner melberger. Just to get a braider mandate is that the purpose. Ling les low when we made the recommendation to get prop