Lacqua in london with tom keene in new york. Theave to talk about sadness of International Terrorism and then we look at the referendum and the fallout. Tom we will go to is been bill istanbul later and speak to an expert. If you did not know it was about brexit and the eu, you would think it is about someone arguing about the summerhouse. Francine we talked about metaphors with the divorce but there has been quite a bit of anger especially in london where 70 of the people voted to stay in. Emotions are changing and we saw an emotional David Cameron yesterday. Lets get to the bloomberg first word news. Blaming Islamic State for the suicide bombing at the airport and istanbul. Three bombers opened fire and blew themselves up after police started saw them. 40 people wounded killed, 200 wounded. Recent months, islamic and kurdish militants carried out bomb attacks in turkey. David cameron used his final European Union summit to express regret over the brexit vote, telling final desk telli
Your forecast is that the economy is going to continue to not thethis 2. 5 rate, 3 we had under reagan and clinton. If we are shedding always jobs such a industry provides tremendous number of jobs for less skilled workers, it seems that that endangers even the 2. 5 growth we have. We have been creating roughly 200,000 jobs a month for the entire year. I was told it takes about 270,000 jobs a month to bring back into employment those who are currently unemployed to take care of those who would prefer to work because the Labor Participation market is so low. For those newer workers entering the market to employ them as well as maintain full employment for those currently, im struck something i read speaks of those 20 or 25yearold workers being underemployed. Is that adequate to increase job participation and those who are newly entering . To simply provide jobs for those entering the labor force requires 100,000 jobs per month. There is a downward trend in the Labor Force Due to its agi
Time to move forward. So we are trying to assess the overall u. S. Economic outlook, and we need to factor in all the different elements that determine that. Our success in selling goods to the rest of the world thats an important determinant of the outlook. We have divergent monetary policies globally, and it often means that there will be Exchange Rate movements that accompany that, and we have seen that over the last year and a half. As i said, the combination of the weak growth abroad, plus the movement in the dollar has been a factor that has been depressing net exports, and thats been a subtraction from growth, and i think it will continue to be Going Forward. Thats a negative, and, of course, its something that makes us much more cautious in terms of raising rates, but still 85 of spending on u. S. Goods and Services Comes from consumers, investment spending, housing, and good fundamental reasons, theres greater strength there. When we put it all together, were still seeing an o
Policy report. This was her first appearance before a Congressional Committee since being sworn in as head of the Federal Reserve. This committee will come to order without objection the chair is authorized any time. This hearing is for the purpose of hearing the semiannual testimony of the chairman of the board of governors of the Federal Reserve on Monetary Policy. And the state of the economy. Before we get started, im not sure if i called this a personal privilege or not, but i would draw the attention of the committee that we are blessed again with the appearance of the gentle lady from new york, Carolyn Mccarthy and what a blessing it is to have her back with us. [ applause ] the chair will now recognize himself for six minutes to give an opening statement. We welcome chair yellen for her first of many semiannual humphreyhawkins appearances before our committee. Chair yellen, you may recall that just two months after Allen Greenspan became fed chairman in 1987, the stock market c
Why is the stock taking off and is it justified . We have all that and more tonight on nightly Business Report for this friday, january 10th. Good evening and welcome. A reality check from the labor department. Only 74,000 new jobs were created in december, far fewer than the roughly 200,000 kmicht economists expected. A real disappointment. Its raising concerns now about whether this is a onetime miss or a sign of a real slowdown in job growth. Hampton pearson has more on todays jobs report and what it means for the economy. Reporter december 2013 was the weakest month of hiring in three years. After averaging 214,000 jobs per month from august through november, the economy generated just a third as many new jobs in december. Lead, economists were shocked. I wouldnt pay any attention at all to these numbers. Theyre not consistent with anything. [ overlapping speakers ] please Everybody Needs to chill it down a little. We havent fully turned the corner any more than we were down in the