Thank you so much for joining us tonight. My name is kate brouns and on behalf of Harvard Bookstore i am so pleased to introduce this event tonight with robert reich, his new book the system who rigged it, how we fix it. Harvard bookstore brings authors and the book to a committee and our new virtual committed during this unprecedented. Our Event Schedule appears on a website where you can sign up for a newsletter and you can browse our bookshelves. This evenings discussions going to conclude with some time for questions. If you have a question for either of our speakers anytime during the talk goes to the ask your question but at the bottom of the screen and well get to as many as time allows. Also at the bottom of the screen during a presentation you will see a button to purchase the night featured book, the system. All sales to the sling support Harvard Bookstores so huge thank you for your support during this difficult time. Your purchases and your financial contributions are also
Spending and chicago pmi fed chair with alan blinder in a few moments. Steve liesman will give us a curtain razor on that. Hey, steve. Good morning, carl. Yeah, were wondering whether powell continues a cautious tone, much more cautious tone than the market seems to embrace and in a way his cautious tone seems to give the market a green light because it means more stimulus or the fed being around for a long time here among powells concerns hes expressed in the past that the employment and growth rebound could take longer than it anticipated, some businesses wont survive the downturn, a possible second wave of the virus and the stimulus will run out and think about more stimulus on the other side you can see the effects of the stimulus carl alluded to in the income and spending numbers this morning. Quite astonishing. Every one of the numbers youre about to see are historic, never been there before. 11 month to month rise in income well tell you why that happened in a second. 13 month t
To begin i would like to say a few words about volker. He served as Federal Reserve chair from 1979 to 1987. He accomplished many things during his long and distinguished career and elsewhere and best known for leading the fight to detain them placement that he inherited as chair the foundation for the prosperity and price stability we enjoy today. But what is most admirable, more than his accomplishments is his character. He believed there is no higher calling than Public Service and he dedicated the lion share of his life. With courage, integrity and tenacity he pursued the policy that he believed would ultimately benefit all americans. My colleagues and i draw inspiration from his example. Turning to todays meeting my colleagues and i decided to leave the policy rate of lowering it three quarters of a rate of the previously three meetings. We base our decisions on judgment of how best to achieve the goal congress has given x mom employment of price stability. It remains a favorable
He served as Federal Reserve chair from 1979 to 1987. He accomplished many things during his long and distinguished career and elsewhere and best known for leading the fight to detain them placement that he inherited as chair the foundation for the prosperity and price stability we enjoy today. But what is most admirable, more than his accomplishments is his character. He believed there is no higher calling than Public Service and he dedicated the lion share of his life. With courage, integrity and tenacity he pursued the policy that he believed would ultimately benefit all americans. My colleagues and i draw inspiration from his example. Turning to todays meeting my colleagues and i decided to leave the policy rate of lowering it three quarters of a rate of the previously three meetings. We base our decisions on judgment of how best to achieve the goal congress has given x mom employment of price stability. It remains a favorable one despite Global Developments in ongoing risks, with
Striking distance, stocks are on track for what would be well see, the first loss in four sessions, but really cant get much of anything out of the future moves right now plus, deal or no deal, tmobile sprint battle heads to court. 13 state attorneys general led by, of course, california and new york are seeking to block that merger. And it is an m a monday, we have two big premium deals in biotech, sanofi and merck. Im going to get to that jim does too stock picking so important there in terms of figuring out where those premiums are going to end up stocks overall set to look for a modest open this morning, this after fridays jobs report rally. That resulted in the s p erasing its losses for last week trade once again in focus here, heard jim talking about it on squawk box. The next round of u. S. Tariffs against chinese goods set to go into effect, this sunday so we are now counting down. And new data Shows Chinese exports to the u. S. Fell 23 in november i dont know how much more th