Every few times we make some progress and roll it back. It is becoming exhausting. Late february this year, trump did not meet with chinese february, officials and there were press conferences afterwards, and they agreed to have the chinese by a little bit buy a little bit more soybeans. Two days later, trump declared a truce. That never really led to anything. We have been wrong optimistically the entire time. They have had a couple of years to try to come to compromise. What we are talking about now is right where we started 18 months ago or so. Good, a detente but until i see a rollback of , some of the tariffs that went on recently, i have to go with our leading indicators, which are still pointed downwards. Jonathan joining me around the table in new york are our guests george bory, mike purves, and andy charlton. The first question to you, george. Same issues, same people, same countries. Do we get a different outcome . George in terms of trade, i dont think so. Trade is in a per
George bory, mike purves, and andy charlton. The first question to you, george. Same issues, same people, same countries. Do we get a different outcome . George in terms of trade, i dont think so. Trade is in a perpetual state of negotiations and we expect that to continue. We are not expecting a major breakthrough anytime soon. In the financial markets, things seem to be changing a little bit, yields moving up and the yield curve steepening are actually a material change. It seems like the fed, the feds rhetoric, the feds action is starting to meaningfully impact the technicals in the market. When we think about fixed income in general, one of the Biggest Challenges the fed has faced is an inverted yield curve. The fact that they are getting the yield curve to steepen is a meaningful positive, and i think that is something that is very different than what we saw back in the middle of this year, when trade talks and trade issues really became meaningfully problematic and started to pus
Our second panel is chris brummer, Research Professor director, institute of economic law, and University Law center. Our second witnesses katerina pastore, and columbia law school. Gendler who is professor of the practice of Global Economics and manager. Mit sloan school of management Senior Advisor to the director, Mit Media Lab and codirector of. The next witness will be robert wiseman, president , public citizen, and the final witness will be chief Strategy Officers. Welcome to all of you. Without objection, your written statements will be made part of the record. Each of you will have five minutes to summarize your testimony and with one minute remaining a yellow light will appear. At that time i will ask that you wrap up your testimony so that we can be respectful of both witnesses and Committee Members times. You are recognized for five minutes to present your testimony. Thank you so much. Members of the committee, thank you for inviting me to testify. Im here in my academic cap
We have a Good Opportunity if we enable more people to participate to offer services that can generate revenue. This is supposed to be a Nonprofit Organization, is in the . Im talking about the calibra wallop which will directly impact facebook. Is it going to be a nonprofit . No, calibra is a forprofit entity and the entity that will dold the wallet that will be offered to facebook consumers. Is Digital Currency illegal in some parts of the world quick skinny touch on that . Gets congressman there are an number of countries that prohibit buying selling or using Digital Currencies. I also want to mention privacy violation concerns things that americans have been concerned with. The american consumer, do they trust facebook and do they feel comfortable with your company . Congressman i believe we have a lot of work to do to earn Peoples Trust and we have two definitely make though strong commitments when it comes to privacy and make good on those commitments for long periods of time. I
Your equity market slightly negative on the s p 500 for the second or third time this week, waking up and looking at china. To the data and commentary around that economy right now. New loans extended on chinese banks ranging to the lowest since 2009, there are concerns about what is developing in the worlds secondlargest economy. Tom you look at the income statement dynamics and the Balance Sheet statement dynamics. I agree. I believe i mentioned this the day before. The flows on the Balance Sheet in and out are what matter. This is fbi from us to them off a cliff from them to us. Maybe not a cliff, but it is down. Jonathan the data dropped in the last hour. The response clear from many on the south side. Stop gin weighing in. We will see. We have not seen it. Lisa what kind of stimulus when they are concerned about debt load in local governments . If they want to move away from leverage and create a more sustainable economy, how do they stimulate the economy where you look at these l