Announcement. Michael mckee has the details on who will take the job. Michael we have a replacement forecaster, george, he is jeffrey smit jeffrey schmidt, the ceo of the school of banking at Southern Methodist university and will serve out the fiveyear term. He can be reappointed in 2020 six. He will be a Voting Member of the fomc in 2025. Hes a nebraska native, he began his career in 1981 as a field examiner based in the ftse in kansas city and he follows a trend at the Kansas City Fed because Esther George and her predecessor or Bank Examiners, and 1989 he became president of American National and oman moved on to mutual of omaha, the Insurance Company as per german and ceo. He has been running a familyowned bank in dallas, graduated from the university of nebraska, has a Business Administration degree, he is not an economist. He will take office august when he first, two or three days before the Kansas City Feds annual jackson hole symposium begins. So he will be there in time to g
We start with the first major wall street bank to remove recession from their outlook the chief economist is standing by to make his case. And if the economy isnt deteriorating, why the downgrade, is it a warning shot to washington . Well ask the man in charge, dan clifton is here. He warns we shouldnt see more signs of stress building and the fed may need to cut rates. And well bring in the ceo of Summit Global investments. How should investors be positioning in response . Lets start with the big call from bank of america mike, thanks for your time and for rejoining us the last time we talked you had just kicked your recession call into 2024. And now it goes away entirely . Yes so thank you for having me on, kelly. Yes, i think we have seen enough, at least in the resiliency of the data, the upgrade to prior growth numbers, the solid gdp numbers. But theyre also happening in an environment where wage growth is moderating and inflation is moderating thats only happening gradually. Ther
Holywell in flintshire. We see why it hurts, and what traders can do about it. They all say that they are for the businesses and that and yet theyre not helping us at all. Theyre making it harder for us to get to them. Because if we run out of change or need to do a bank for cash and that, you cantjust nip to the bank any more. Youve got to physically go to a town somewhere else. Hello, happy new year. Hopefully. But who will it be a happy new year for . Thats where we start tonight as we take advantage of the fact that 2018 is still in its warm up phase to look at politics here, and how it might evolve. As always, the big battle is the one between the conservatives and labour and rarely has the choice between them been as stark. So how a minority conservative government gets on, and whether labour can threaten it is an obvious issue for the year ahead. But in some ways, a lot of the action in politics these days is within the two main parties. They both have huge great cracks down the
Dig deeper into oils impact Going Forward. Going in Different Directions which is very unusual, definitely what we didnt see in the First Quarter. Costco starts its deal with citigroup today. What about former partner American Express . We have both sides whether one of the biggest losers can turn things around. The yahoo brain drain isnt over. Details on the latest executive to leave the struggling Internet Company coming up. Shares of tesla are popping after the company unveiled the model 3 last night. Preorders have soared past expectation and elon musk took the stage to unveil teslas new product. Even the base model 3 will do zeer ro to 60 or 0 to 100 in less than six seconds. [ applause ] at tesla we dont make slow cars. In terms of range, the range will be at least epa rating of 215 miles. All model 3s will have autopilot hard ward and 3600 super chargers worldwide and about the same number, about the same number of destination chargers, thats present day. By the end of next year
And San Francisco, 84 now bob, 88 in santa rosa. All of these temperatures dropping off as we speak. As the cool morning air starts spilling into the bay and dropper temperatures. Lets look at the difference over the past 24 hours. The temperatures down 25 degrees in San Francisco, 27 degrees cooler in Half Moon Bay then it was just 24 hours ago. About 20 degrees cooler in santa rosa and now but i expect that hed advisory to expire very soon in those areas and also down in the south bay. Our inland spots remain on the hot side in the triple digits and he buys three remains in effect there. Cooling will come inland soon on details of that coming up. Definitely another sweltering day in a battle against the wild fire in Contra Costa County kron 4 Christine Conley is on the ground shes been there all day and joins us live with the very latest details on the fire. Theres an extreme heat theyre dealing with the fire is burning in these hills right here behind me. At this point they have the