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
The British Government told businesses today to be ready for big changes when the u. K. Makes its final break from the eu in one month. Opec and its allies need more time to reach a deal on Oil Production policy. A meeting today broke down today without any agreement. Again ministers will try thursday to allow more time to figure out whether to delay a planned increase in output starting in january. Supporters say the market is too fragile to absorb more oil. 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. Treasury secretary Steve Mnuchin and jay powell testifying earlier before congress on the cares act. Itsla says the fed will use tools until
Electoral joe bidens win is confirmed by the electoral college, but he hints he may never concede. Good morning, everyone. Welcome to bloomberg surveillance. I am Francine Lacqua here in london. It is the day after an american holiday, which saw a lot of markets closed. Cash equities open in the u. S. Because of thanksgiving. This is what i am looking at overall in the markets. Quite a lot of movement is on the portuguese 10year yield. Markets are speculating when it could go into negative territory. Today, the overall mood is a bit of caution out there. Investors, secondary valuations following a rise in equities this month but also enduring pandemic and parts of europe, oil retreating, with rising tensions within opecplus members. We will have plenty of more on that throughout the show. The stock market has a rotation into cyclical and value, by the promising vaccine, or could we see farther moves . For more on this, lets get straight to our dani burger with a look at the markets. Hi
A terror attack. At least 20 dead and tens of thousands of homes destroyed as the philippines is hit by super typhoon goni. Plus how robots are coming to the rescue to help keep a pop Art Exhibition in london under the proof. Welcome to the program campaigning in the u. S. Election is coming to a close with just hours to go before the 1st polling booths open already a record 98000000 americans have cast their ballots more than 2 thirds of the total number who voted in 2016 now these are live pictures where President Donald Trump is looking to pull off an upset in michigan and once again hes looking to do it by winding up his campaign in grand rapids that was also the last stop in his 2016 campaign hes held 5 rallies across 4 states in a last minute push for. Pulled in battleground areas while his rival joe biden concentrated his efforts on a high in pennsylvania his companion is focused on increasing turnout by black voters who could prove the difference in several battleground states
Hitting the north coast of honshu that in contrast the beautiful sunshine is allowing things to feel fall and of the tree in place remotest of china theres a little bit of cloud still rain or snow in the far west in sichuan for example hong kongs enjoying the low humidity 25 degree heat at the moment as you might expect equally the monsoon rains have gone south through india is now the time of year we get most the rain in places like chennai this is not wrong this time of the year it is wet and is wet now all the way up to the coast of bangladesh and they found the northeast of india but mostly than the south so for faces like tamil nadu carola and sri lanka as for the middle east well life most places fine its not full of i dont expect significant rain here. But. A journey of personal discovery. Which is the. Well the letter to germany addressed ground. 0. Traces of family links back to the regime of Benito Mussolini and asks his fascism return to italian politics freshers in the fami