Coronavirus. Obamaso sell barack we saw apple yesterday or the day before. We saw ashares selloff because vacated senate seat. It is difficult to do guidance. Fly up tol apply puma says the negative impact from coronavirus on sales will four paying customers on the be felt. Ship it uses to fly astronauts we dont have a number yet. Into space. It is a very fluid situation is it opens the way for private a lot of companies try to figure space tourism, but there is no out what it means for their price tag yet. Globalist when he four hours per supply chains and when it will quicktake. And in pick up again. We are watching individual stocks across the board. Stocks in europe being supported by the idea that the pboc and daylobal news 24 hours per officials in china will do more quicktake. On to spur the economy. 09. T crude at 58 francine russia temporarily we will speak with a deutsche banned the chinese from entry. Telekom chief executive. The who says beijings continuing efforts in hubei
As appropriate to sustain the expansion of the fed sees longer run federal funds rate dropping from 2. 8 to 2. 5 . On inflation the fed closely monitoring inflation at it point. The forecast is for headline inflation to fall 1. 5 this year. The fed sees core inflation slipping to 1. 8 . Then in 2021 the fed sees a reversal, inflation rising back to 2 . On gdp the fed forecast as 2. 1 in 2019. The fed lowered outlook for unemployment this year to 3. 6 . The fed sees the labor market as strong right now but they say the rising economy at a moderate rate. Now the data shows that Consumer Spending picked up but Business Investment softened. Fed sees uncertain forecast of economy, jobs, ininflation. Very interesting statement but no rate cut today. Looking at one fed president or one fed vote away from a rate cut this year. Two fed votes away from two rate cuts this year. Back to you, charles. Charles edward lawrence, thank you very much thats a whole lot. Here to unpack it all, Danielle Di
And have we reached peak pessimism on china . Thats the question Ruchir Sharma is asking as wall street does cut its growth estimates for the country this year. Topping the tape for us today, the august cpi print, and what it means for Interest Rates. Our next guest worked for the fed for 24 years, thinks well see a pause at the Central Banks september meeting, thats next week. But he says its a coin toss as to whether were completely done with rate hikes. Joining us now is macro strategist, vincent reinhardt. Good to see you. Not so much for the market, 50 50 on november and december, ahead of the Inflation Report, out of the Inflation Report. I feel like if youre a hawk, this number sort of backs up your case, because it shows that we are susceptible to hotter than expected and stickier inflation, but if youre a dove, it backs up your case, because the trends continue to point to disinflation. So what do you do with it . Thats the great thing about an economic report that runs 43 pag
are, it confirms the u.s. economy is in a good spot. ritika: earnings reports come fast and furious. we continued the strengthening of customer relationships. commercial momentum remains strong. important to focus on asset growth at the same time with margin and costs. ritika: while uncertainties loom over the short-term financial outlook, investors and policy makers offer long-term perspective. the reality of brexit is there will be winners and losers. we are ready to adopt a more supportive fiscal stance. will wreak the virus havoc in certain areas of the country and sectors of the economy. ritika: it is all straight ahead on bloomberg best. hello and welcome. this is bloomberg best. your weekly review of the most important business news, analysis, and interviews from bloomberg television around the world. let s start with a day by day look at the top headlines. the week began with investors bracing for a shock. china s financial markets reopened after the lun
Would be, yes, paul, they actually got 51 votes to pass a budget rather than 48 or 49 and failed paul everybody but rand paul. Everybody but rand paul. Its too bad that senator had to be wheeled, you think murkowski could have commit today voting for this and not make him come. Thats the way the Senate Republicans work now. Steppingstone to get towards tax reform and i do feel that these republicans now have the sense that they are embarked on something very serious, little bit wind at their back and now we are going to go forward to tax reform and do something that the president and everybody member of the party except rand paul wants to do. Paul kate, the key is 1. 5 billion bogey, so they are not hostage to the scoring from the Congressional Budget Office entirely, they are not hostage to the joint tax committee, these institutions created by democrats years ago that tend to make it harder to reform taxes. Thats right, yes, basically thats a conservative number on how much revenue w