Declining. We saw a constructive things. Waiting for the eighth or ninth year of expansion is not a perfect strategy. There is an issue of wanting to do as much as we can to avoid exacerbating the longstanding inferences and get back to a Strong Economy or we can start making progress again, which is what we were doing in february. Senator smith as the fed chair and at the fed you have the mission of low unemployment and managing inflation. And this need to spur job growth. We said there is not been a big worry about inflation. What if the fed were to lower its target for employment, even under 3 . What impact might that have on addressing longterm needs for addressing inequality. Changeowell we made a in our operating framework which addresses that directly. We will have an estimate of the natural rate of unemployment. We will not act on that, even if unemployment goes below that, unless we see inflation or some other problematic thing that seems to be late to where our rates are. We
Furman, who was across from chair yellen years ago at the councils of economic advisors. It will be fascinating to see what she does in a very different job. The headline is she has to do with congress and the senate. Jonathan and she is conditioned by the experience of the previous cycle, and i think that is really important. This is about avoiding a premature declaration of victory. Chair yellen has lived that, and im sure she wont want to make the same mistake twice. Tom i am really focused on the department of defense after the chaos we have seen over the last number of weeks, so that will be an important announcement as well. The backdrop here is maybe the clearing of uncertainty, and look where the markets are moving. , 3600. N on the s p 500 64 off the is up march bottom. On a long chart, it is actually a very elegant chart with all sorts of good features. You really Wonder Within the debate of those good conversations opening the show, you really wonder what the next leg is. Th
Market, that is the title. Retail earnings rolling out this morning. Economic data showing customers are slowing their spending. October retail sales data shows the slowest growth in about six month. Joining us to break it down is michael mckee, Bloomberg Economic and policy correspondent. Michael we call it getting whacked upside the head here in the colonies. In april, just a 0. 3 gain for the month of october, down from 1. 6 in the month of october, with the pendant was at its worst in april. Only five of 13 categories rose last month, compared with 11 of 13 in the prior month. October andm november seems to be getting worse. Jp morgan economists report that chase card spending has fallen notably in the first part of this month. It is, as they say, really dropping off,. That suggests a weaker month ahead. Who knows what will happen with black friday, if anybody cares about that anymore, but it is a clear americans are cutting back. The actual results come a much less meaningful than
Republicans want pennsylvanias mailin voting process declared illegal. One of the president s most loyal supporters says it is time for mr. Trump to move on. Stephen schwarzman says the outcome of the election is certain today, and he is ready to help president elect biden. Global news 24 hours a day, onair, and on bloomberg quicktake, powered by more than 2700 journalists and analysts in over 120 countries. Im Mark Crumpton. This is bloomberg. Vonnie it is 1 00 p. M. In new york, 6 00 p. M. In london, and 2 00 a. M. In hong kong. Im vonnie quinn. Welcome to bloomberg markets. Here are the top stories we are following on the bloomberg and from around the world. Astrazeneca and the university of oxford the latest to deliver positive vaccine developments. Shares are lower today as analyst question some of the findings, although there is an outperform on the stock. We will speak with Matthew Harrison about the study and environment. We are talking health care with larry robbins. His outlo
Moment. It is moving markets, but theres a lot of stuff percolating. The Dollar Strength really has my attention. I would go to the news released in the 5 00 hour of the reports that mr. Netanyahu met with the crown prince of saudi arabia. These really havent been vetted out by the israeli or saudi government yet, but i wonder if that helped a little bit as well. Jonathan i dont know about that, tom. News, dollaraccine weakness, can we touch about that a little bit more . The dollar taking out the lows on dxy. Es, we will see how bbdx do and the others. What i would note is the mexican peso. Comes through, hits 20 this morning. That is just one little snapshot of the complexity of e. M. Pairs doing well. Dm,than from e. M. To everything stronger against the u. S. Dollar. Yields up a couple of basis points. Lisa, good morning to you. Supply coming through the week. Lisa we will be getting 190 billion of debt, fiveyear notes. I dont know if you did this reading over the weekend about the