Inflation object target. It has put a rock under the kiwi dollar, sending it down 48 pips. Im looking at the crosses. 64. 7, 64. 8 u. S. Cents. We were looking for 25 basis points. The wiggle room being created by the Federal Reserve and despite comments from wellknown and of Jimmy Bullard who had suggested they take into account the , he turned aors bit hawkish. David they announced the inflation reaching 2 in the fourth quarter, Second Quarter of 2021. Fourth quarter of that year. They are pushing a goal back. They said this larger initial stimulus, frontloading it. They not only cut, they delivered a larger cut, taking the cash rate to 1 , which should be the lowest on record. Kiwi dollar, headed down. Give or take 1 . Rishaad lets look at the overall markets because that should give a semblance of the Way Investors are looking at all this. Shanghai, up a little bit, it is green. Hang seng down and extending losses we havent seen since 1984. This is a position we have. U. S. Shares
Currently stands. Welcome to National Economists club, our first event of the year. The National Economists club, for so, im pete davis, Senior Vice President and past president of the club. The National Economics club was started in 1968 by herb stein, pitcher of the council of economic advisers and it has met roughly 40 weeks out of every year since presenting leading economists talk about issues of the day. Today were very pleased to have Marc Goldwein of the committee for a responsible federal budget to talk about the return of trillion dollar deficits. Before introduce marc, levy tell you about some upcoming programs. We have dr. Alice rivlin on february 1 and a luncheon here at chinatown garden talk about said policy and the beloved about the budget come shes a former vice chair of the fed and, of course, the founding director of the Congressional Budget Office. We also have commitments to speak in february, although te dates have been set, by the culture of the council of econom
Will be maintaining its ultra easing Monetary Policy for as long as needed. In particular, the target for the federal funds rate is likely to remain near zero for a considerable time after the asset purchases ends, perhaps for a time after the threshold is crossed and at least until the preponderance of the data supports the removing of the. The big question, of course, is when the taper begins. As for his life after the fed, ben bernanke says he looks forward to speaking and writing. Beyond the economy, well get a number of key corporate results today. Quarterly results are due from deere, jcpenney and lowes. In the meantime, we have a little bit of Corporate News for you. Yahoo is increasing its stock buyback by another 5 billion. It will be selling notes that mature in 2018. About 200 million of the proceeds will be used for the stock buyback. Shares rising on the news in after hours trading. Ceo Marissa Mayer speaking at its salesforce. Com meeting last evening. We dont think were