Do the really most important people in the world consistently come back to heritage . You know, is it our physical location on capitol hill, which many of you toured yesterday at our open house . Is it the fact that since 1973 weve advised president s, heads of state, congressmen, governors . Thats an important part of our history, but the reason theyre here time after time is because of you. The Heritage Foundation is made up of 5300 members across the country. Thats over a thousand heritage members throughout the districts in the country. Im not saying theres a thousand members in Nancy Pelosis district, but i think you get my point. Our average contribution is a little over 100 bucks, i can tell you if youre in the Membership Office you can see sometimes a 25 check that comes from a grandmother and you can tell its a note that she left with that check that it hurt her Monthly Budget to write that check, but because she wants to save this country, shes going to stay with hair aj heri
I am dani burger in london. Holding steady, philly fed parker said the end of the hiking cycle may be near with potential cuts to come next year. Treasuries extend a rally. The u. S. Curbs its ambition bloomberg learns that investment into restrictions in china are more limited than first expected. Plus, after bank stocks stumble, italy clarifies its new tax on windfall profits, saying it will cap. All right, we are going to give it get earnings but first let us look at markets because it has been quite the rally in the 10 year yield. We saw a drop by six basis points yesterday. Most of the gains on the front end of your screen happened during the asia and europe session. Those gains are maintained today, about two basis points. If we can have such a risk off day, such a flight to haven, flight to bonds on such little information, we have a lot about banking stocks we knew the picture for regional banks underscores the fragility of the summer market. Let me show the stocks because yest
announcer: this is cnn breaking news. and we are back with that breaking news just in to cnn. actor matthew perry has died at the age of 54. the los angeles times, quoting law enforcement sources is reporting the friends star was found dead about 4:00 p.m. this afternoon in a hot tub at his los angeles home. daily times reports that sources speaking on the condition of anonymity did not cite the cause of death. the paper reports there was no sign of foul play but robbery, homicide detectives from the los angeles police department are investigating the death as would be routine in a situation like this. as you probably know, perry appeared in countless other tv shows but he is best known for his role of chandler bing in friends. the sitcom ran for ten seasons. so many of us learned with his memoir that in many episodes he was struggling with addiction. his battle with alcohol and drugs, specifically painkillers, was well known. he wrote about that addiction in his memo
We do what we can to promote a t spells. On their families. Imperative that we do what we can to promote a very strong recovery. Continuingg that by our asset purchase program, which we intend we put in assuringh the goal of a substantial improvement in the outlook for the labor market. We are taking account of the cost and efficacy of this program as we go along. Thehis point, i believe benefits exceed the costs. As that program gradually winds down, we have indicated that we expect to maintain a highly accommodative Monetary Policy for some time to come thereafter. The message we want to send is that we will do what is in our power to ensure a robust recovery in the context of price stability. What are the dangers of tapering the asset purchases too early . If confirmed, how should the fomc move forward on an exit strategy . So, senator, i think that there are dangers, frankly, on both sides of ending the program or ending accommodation too early. There are also dangers that we have
I call this hearing to order. Today we consider the nomination of the honorable janet yellin to be chair of the board of governors of the Federal Reserve system for a term of four years. Dr. Yellin is an extraordinary candidate to lead the Federal Reserve. She currently serves as a member and vice chair of the board of governors. She previously served as a member of the board of governors in the 1990s. She was a chair of the of president clintons council on economic advisors and she served six years as the president of the San Francisco fed. In addition, dr. Yellin has an impressive academic record. She is a professor at berkeleys school of business and was previously a professor at Harvard University as well as a faculty member of the London School of economics. Dr. Yellin graduated suma cum laude and received her phd in economics from yale. The nomination is especially timely as our nation struggles with high unemployment in the wake of the great recession. She has devoted a large po