Rebound. We finally found some direction given that we are spending most of the day stuck in neutral. Its interesting we had a steady climb in the last area 40 minutes of trade today. Im thinking about bitcoin. Sharplybeen going down and it seems to be libre related. Zuckerberg testified before the House Finance panel yesterday. He said it libre would not be launched without government approval. That probably put the fear into frequent and cryptocurrency users everywhere. Heres the big uptrend earlier this year. After the announcement of labor, libra, were seeing that again today. It decline is now confirmed to go ballistic thousand after earlier those two points confirm each other it looks like bitcoin may continue to drop i am looking at shares of tesla. We know that they missed their delivery numbers. We didnt get the 100,000 mark. We got 95,000. It now we are going to wait the hell we can analysts want to see if we can get some headwind in china. The seem to think that market is sa
Cause u. S. Central bank to rein them in stabilize the markets by wednesday morning. And while the u. S. Central bank makes their latest policy moves their counterpart in the European Union is marking an official leadership transition on tuesday Christine Legarde officially became the new president of the Europe European Central Bank and the former managing director of the International Monetary fund with 394 votes to confirm her in the European Parliament 206 members of the European Parliament voted against muslim guard and 49 abstained from the vote reuters reports in ms the guards latest financial policy making position she will likely have to decide on whether and how the e. C. B. Takes on a new investigatory role in a years long cascade of scandals at Deutsche Bank reuters reported that e. C. B. Staff are considering opening a formal investigation Deutsche Bank for alleged an authorized purchases of their own securities specifically bonds classes. Wide as 81 and 82. Joining us now
Central bank the Federal Reserve which as expected lower the target range on the key federal funds rate by 25. 00 basis points wall street seems to be giving another thumbs down on the rate cut so looking at this lets go to. Lets go to the jay powell will explain the feds choices theyre cutting rates to boost the economy but heres what a poll said recently about the state of the u. S. Economy. So were not forecasting we were expecting a recession as i mentioned incoming data for the United States suggests that the most likely outgoing outcome i would look for the United States economy is still moderate growth a strong labor market and inflation continuing to back up i went through the numbers so the consumer is in good shape and really theres theres. Or or main expectation is not at all that theyll be a recession. And weve identified this disconnect before but mr powell says theres no expectation of a recession so then why the rate cuts weve been over this contradiction before but its
Interest rates leads our leads our global report today as the Federal Reserve unveils an expected quarter point Interest Rate cut the 2nd in 2019 after 2 days of policy meetings a federal open Market Committee of the u. S. Central bank said it would lower the target rate for the benchmark federal funds rate to between 1. 75 percent and 2 percent in a policy statement the fed Committee Reference quote the implications of Global Developments for the Economic Outlook as well as muted inflation pressures as reasons for the cut 7 of the 10 members of the f o m c voted for the new policy while the fed was meeting it has been an interesting week for the overnight funding market as Interest Rates temporarily rose as high as 10 percent for some transactions on monday and tuesday the uncommon rate jumps cause u. S. Central bank to rein them in stabilizing markets by wednesday morning. And while the u. S. Central bank makes their latest. As he moves their counterpart in the European Union is mark
President of a group called the Information Technology and Innovation Foundation. Mr. Castro, what is that group and what do you do . Guest i with a single take. We focus on innovation where were interested in innovation and how you can have policy to support that. Host can you give an example of that innovation . Guest ten years ago we were talking about Artificial Intelligence and the benefits. We were thinking about that and thinking about policies we need to have in place to get there and so we try to help policymakers get ahead of the curve on these issues. Host who funded iti f. Guest a bunch of funders and individuals that support our thing think and we work on a lot of different issues so we get support from those interested in everyone from it issues to biotech engineering. Host for our purposes here on the communicators is it fair to say that large Silicon Valley companies are part of your funding operation, google, apple, facebook of the world . Guest absolutely. The compani