By the Brookings Institution center on fiscal and Monetary Policy, an hour and 45 minutes. So, in thinking about this event and in what we wanted to accomplish here, what we set out to do was to have Larry Summers make the case why we should think about this, have a number of very experienced monetary economists who have views about what we should do, think about what we should do. In this panel, the question was, could we get some people to some very different points of view, to talk about, what difference does this really make . Is this worth the energy we spend on it and to whom does it matter . So we have a deliberately diverse panel. John taylor from stanford, wellknown for his taylor rule, thinking about Monetary Policy for a long time. Christian forbes from mit, until recently on the Monetary Policy committee of the bank of england, correct me if i am wrong, you never had a chance to raise rates, is that right . Right. You tried. Peter hooper chief economist of Deutsche Bank sec
Good morning welcome to squawk alley. I am john ford with holly evans. After a series of wild swings in the market, major indexes are higher but not across the board. Dow up 240 the next guest says the fed is partly behind the mayhem the past couple days as the president tweeted about market volatility in the old days when good news was reported, stock market would go up, today when good news is reported, stock market goes down big mistake and we have great news about the economy Tom Mcclellan joins me start with the fed, you think theyre in the middle of this . Good morning. Yes, the president is right. But the link between that and the economy is not as strong as people think what most dont understand, there are two fundamentals that govern movements of stock market first is how much money is there, the second is how much does the money want to be invested the fed is in charge of mostly the first one. I brought a chart. Whats not reported, the fed is selling assets last week they dro
Liquidity, we do with hongse markets kong on the halfday session. Middle markets after the holiday. Korea also a lot of action and taiwan. ,ut the markets are trading extending gains on wall street overnight, the s p higher for a fourth straight session, coming back from the 10 decline from january highs. This is despite higher inflation and bond yields. It was that combination that caused a selloff. We are getting more analysis on what we are seeing when it comes to trading. Taking a look at southeast asia, some markets coming online. Lets take a look at what david is looking at. We are looking for the year of the dog. Not a great deal of trading, but what we are seeing is positive. David nice way to end the year. Up for a fourth day across asiapacific, about 6. 5 left until we regain the peak we lost rout. Ing the asia. Is doing quite well, stocks are up. Yields are on the way up as well. Sie 10 year yields closing in on the new zealand 10year. The spread of the aussie over the u. S.
Tech help to drive some of the , a lot of investors will be watching inflation. It is a chart that were quite there with. The pce which is the most some of piece of data the fed watchers out there say the jay powell might indicate what the fed can tolerate inflation above 2 . And it is a position also held by the minneapolis fed president s neel kashkari. There is a collision course between what was he on the fiscal side of things as well. Address the Spending Plans from the white house. And it is increasingly likely that we will speak about it. What would that overshooting inflation. Queen of the Market Reaction was pretty positive to all the headlines today. The s p up over 1 , the dow adding on another. Nasdaq also higher by over 1 . Volume a little bit lower than what was expected. Stockith some of the big stories today. We had some big stories. Ge was one of them in at the ceo came out and said that there might be liabilities for some of the subprime that the company used to be in
And visually what it means to live in a society of different people who stick together because they believe in a rule of law. Host hello, and welcome to landmark cases. This is the first of 12 Historic Supreme Court cases well be looking at this season. Mcculloch versus maryland, our case tonight. And for the next 90 minutes well learn more about this significant case, and the people and issues behind it, and why its so important in our American History process. Later on well take your calls, well also take your questions on facebook and twitter, and make you a part of this conversation. We have two guests at the table tonight to help us understand what mcculloch versus maryland is all about. Let me introduce them to you, farah peterson, and mark killenbeck. The first question, of course, why does this belong on the list of landmark cases . Well, one of the most dominant controversies in the interpretation of the constitution, then and now, is whether we should read the document primar