Is it not possible that improved wages themselves can help lead to improved productivity, which can create a virtual cycle with wage growth over time . German powell yes and thats exactly what we hope is happening right now. Congressman so you are committed to keeping your foot off the brake . Chairman powell when im getting ready for this hearing i went back and read something you said in your very first year on the fomc committee. At the very first meeting one of the Bank President s rett Bank President s mentioned tighter labor markets and youve noted that you havent seen anything in the data yet to support that. It struck me as interesting because it got me to thinking about you three and you six and my frustration with both. And i think its been two and a half years since we hit the supposedly definition of a full employment, yet you three keeps dropping and the definition of full employment keeps chasing it. Dataont we just use wage to help define what full employment is . Chairm
Live from the kgo teach broadcast center. This is abc7 news. Good morning to you. Its sunday july 5th. Im chris nguyen in for carolyn tyler. Lets start with a quick first look at the forecast. Heres lisa argen tracking live doppler hd. If morning lisa. Good morning, chris. Im watching the fog meander this morning. We are looking at the temperatures on the mild side inland but we have moisture along the coast. Its all cue to the area of low pressure offshore that will be drifting offshore all week long. Heres santa cruz. Check it out. From watson to santa cruz, we are wet. But inland we are sunny and mild. 62 napa. Putting it all together today, temperatures coming down with numbers in the 80s in the inland valleys. Breezy around the bay, 60s and 70s. Once again the fog really right up to the shoreline. We will detail the week ahead, which features more cool weather coming up. Chris. Lisa, thank you. In developing news, firefighters are battling a 320acre wildfire in vacaville that thre
Man opened fire and a Movie Theater last night. He killed two people and wounded nine others before killing himself. The shooter tried to escape and then turned back when he saw police entered the theater. Governor jindal when these acts of violence happen in a Movie Theater, when there is no real good reason why this kind of evil should intrude on the lives or families were out for a night of entertainment, a lot of us were horrified and shocked. The great thing about america is when any of us suffer, we all suffer. This is a time for us to come together. Vonnie and we have breaking news. Anthem will buy signet cigna. This had been telegraphed. Were waiting for this to become official. Anthem is buying cigna. That would work out to 48 billion, creating the Largest Health insurer in the United States. A year of talks. Tom and a moment in our financial history. I wish chris halen with you chris whalen was here. Ive never seen a headline that says anthem combined company sees accretion a
Property and we knew that it were escalating and so we needed to take action on fresh grants andgrass and landscaping j. R. here is a mug shot of the man who was arrested in his home on monday morning who is being charged with starting more than 30 fires and they say they may actually be 50 to 70 fires did believe that james wilson is to blame for this case as well they investigators tell me they were looking for the arson suspect for a long time but that they wanted to get the facts straight before they announced anything pam firefighters are making some progress against a raging wildfire burning in lake county. The socalled rocky fire. Has been burning for more than a week. And has scorched more than 69 thousand acres. It is now 30 percent contained. However. Dozens of homes are destroyed. Kron 4s Charles Clifford gives us a close look at the damage in lake county. Charles this is a few miles northwest of the burn zone. There has not been too much smoke around in the past few days bu
Live from the kgo broadcast center. This is abc 7 news. Tuesday training is underway in asia, a day after the worst plunge in over 7 years. So far, its lost 6 . And the necay also dropping. Good evening, im dan laesh. And good gbegin with worries wall street. The dow average dropped almost a,000 points and in the end, it was the worst day in four years, down almost 600 points. And lillian, one sillicon valley power housemaid a move that helped the rebound . Reporter thats right, as bad as it was, it could have been a lot worse, if not for an email from apple ceo, tom cook. Moments later, stocks rebounded, thanks in large part to steve cook. Saying that his company is doing just fine in china, despite the slumping economy. Here was the fundamental assumption that china was impacting their business, when in fact t wasnt. But theeect of the email only lasted so long. The dow down about 3. 5 . The white house asserted calm. I would say the on going strength and resilience of the u. S. Econ