You wont need the umbrellas. Take the light clothing and sunglasses, seeing sunshine and a quick warmup. 62 degrees now in new jersey. The Lehigh Valley at 58. Some areas of light fog in delaware. 60 degrees. The clouds are breaking over crawly stadium, wilmington. 66. Any fog will disappear like that as temperatures climb. 77 degrees at 11 00 this morning. Warming into the 80s this afternoon. 82 in the suburbs. 84 in philadelphia. Look at the 80s. One exception to the 80s, thats the shore. It will warm. There it is, up to 74 this afternoon. Ill go through it hour by hour and show you how quickly the temperatures take off when i come back in ten minutes. First, to the traffic. On a friday, Jessica Boyington is standing by. Jess . I like that better. This is my morning. Good morning, everybody. 422 is where were watching around trooper road. Eight minutes now in the eastbound side from 29 to the schuylkill. Not seeing any big slowdowns. We typically do. Were going to see them on 422 on
Consumer spending. Gets you over 3 . Probably not. I would take the under on that. Very interesting comments from the former fed chair. He was great and listen, he deserves a tremendous amount of credit for what he did for this economy. The recovery was called the obama recovery i believe he had the large hand, but hes 100 right. Getting to 3 is going to be difficult because the driver of gdp in this country now is software. Is services. It is the Technology Component and that is incredibly difficult to measure. We are a different economy, we are a time and convenience economy and to get the 3 , its not going to be the old bulk economy thats easy to measure. The treasury secretary says its going to take two years to get to 3 . Economic growth. This is the market debate. Over the next few years. Either youre going to get levels of Economic Growth to sustain stocks at high levels, profits and otherwise or youre not. Let me cast a scenario in which you get that 3 growth and a lot faster t
Will the rising tide help other stocked. The overhaul now reportedly to be done in stage. And a new echo device likely to be unveiled thor. First up, markets are aiming for new milestones. The nasdaq mitt record highs. As well, briefly surpassing 800 billion in market cap. Then theres the vix. Some people say it takes you back to 93. Jim, our number indicate 2006, but it doesnt fall below ten very often. Remember theres a correlation thats actually not that negative. You should have this in a bull market. Warren buffett says just keep contributing to your 401 k . Im not saying thats complacent. Im saying thats the way people save, and you may say, well, they shouldnt save like that and they have forgotten how much you can lose, but Warren Buffett would say how much did you lose . You didnt lose anything even during the great recession. I think theres a level november the complacency, but a recognition this is how you invest, because we dont have any other plate to invest. His comments
And freddie mac is in the conservatorship of veneers september 2008 and paulson describe the conservatorship as a timeout. Today fannie and freddie continued to dominate the market approximately 70 percent of the mortgages are back for the federal government while fannie and freddie with the Housing Market experiences a downturn the status quo is not a viable option. The Housing Finance system with two Government Enterprises in conservatorship as not a sustainable solution. Taxpayers today have to much risk with to a bigger role in the Mortgage Market. Those that have released proposals including the i see the day in several coauthors and many others. About what the future system should look like. In the meantime continuing to serve as a conspirator in regulator and as the Federal Home Loan Bank fhfa has undertaken a number of initiatives including those that began prior to the directors 10 year. One significant undertaking is the securitization platform that was originally intended to
Months. Including the iba, mill ken institute, several coauthors writing jointly for the urban institute, and many others. The committee is considering all of these proposals as well as other ideas about what the future system should look like. In the meantime, f hrks a serve as regulator of the enterprises and as regulator of the federal home loan banks. As conservator of the gse easy, theyre obligated to preserve and conserve the as 70s franny and freddie mac. They have undertaken a number of initiatives in recent years including some that began prior to director watts tenure. The platform was originally intipped to function like a market utility, independent from the enterprises. That would be used to issue both Agency Securities and private label securities. The platform has instead been developed specifically for securities issued by fanny mae and fredty mack. One important question as we embark on this is whether we should utilize the csp or consider other alternatives such as ex