Were going to go back to steve as soon as we sort out the audio. The main information, 100 was the vote in favor of this decision as steve was just beginning to say, theysh no plans to raise Interest Rates through 2022, and said theyre committed to providing more support following shutdowns to contain the coronavirus. The dow is still down about 150 points we still have the tenyear treasury yield kind of drifting toward the lows of the session before the decision hit. Steve, let me bring you back in here im sorry. Well go back to steve in a moment were running through the tenyear troishry yield. Now just a mare john, is there more you would like to hear sorting through the statement . It looks like they have made a statement about continuing bond purchases at current levels i think thats a pretty big deal they had been tapering bond purchases, and i think what theyre signaling today is theyre not going to continue to taper that i think importantly theyre looking for bond purchases to h
This year at 9. 3 . Then recovering next year to five or 6. 5 in 2021. Now pce inflation under 1 . Longterm federal funds rate again, they see it at 2 1 2 , getting back to that. But again no raise in rates for the next two years. Now in the statement, theyre very interesting language. They put in financial conditions have improved in part reflecting policy measures to support the economy and the flow of credit to u. S. Households and businesses. They have had weaker demand it says on, as well as oil prices have kept inflation historically low. Federal reserve is committed they say to use the full range of tools to support the economy. This was a unanimous decision but again, charles, holding the federal funds rate where it is at least through 2022 is their projections. Back to you. Charles edward, thank you very much, my friend. Hopefully well come back to you for some Additional Information but right now i would like to bring in to discuss, kaltbaum Capital Management president , gar
Order to support Economic Growth following the coronavirus pandemic. This News Conference runs an hour. Good afternoon everyone. Thank you for joining us. Our country continues to face a difficult and challenging time as a pandemic is causing tremendous hardship in the United States and around the world. People have lost loved ones and many millions have lost their jobs and there is great uncertainty about the future. At the Federal Reserve we are strongly committed to using our tools to do whatever we can and for as long as it takes to provide some relief instability to ensure the recovery will be a strong as possible and to limit lasting damage to the economy. The most important response to the crisis has come from a healthcare workers and on behalf of the Federal Reserve look me express our dedicated individuals who put themselves at risk day after day and service to others and to our nation. Let me also think the essential workers across the country who have helped meet our basic n
Our societies despite all the economic and technological growth seem more infantile than ever while to discuss that im now joined by dr james hollis a Prominent Union psychoanalyst and author of the upcoming book living between 2 worlds finding personal resilience in changing times dr hollis its a great privilege for me to talk to you thank you very much for your time was my privilege actually used to be with you now let me start to be a dick title of your upcoming book could the 16th i believe to come out from under your pan changing times isnt that a bit of an oxymoron because history has never stopped evolving and the dynamics of personal development that everybody experiences a crisis at some point in our lives so other times i believe in the really so extraordinary. Not at all thats exactly the point we always live in changing times we always live in times of the changing structures of our society we live in times that are changes for ourselves crises of understanding of believe t
A Prominent Union psychoanalyst and author of the upcoming book living between worlds finding personal resilience in changing times dr hollis its a great privilege for me to talk to you thank you very much for your time my privilege actually used to be with you now let me start to be dick title of your upcoming book the 16th i believe to come out from under your pan changing times isnt that a bit of an oxymoron because history has never stopped evolving and the dynamics of personal development are that everybody experiences a crisis at some point in our lives so other times believe in the really so extraordinary well not at all thats exactly the point we always live in changing times we always live in times of the changing structures of our society we live in times that are changes for ourselves crises of understanding of below. The roadmap that we were following etc its just that we live in a particularly time of great disruption of what people thought were fixed beliefs fixed structu