Forecasts. The policy rate is unchanged. The central bank, in terms of Interest Rates, keeping them as they are, at 6. 25 . This is the dollar versus rupee. 57. 95, however at this point what is most significant is it has cut its 2017 Economic Growth forecast. We will get plenty more on that and market reactions, but first lets get to the first word news with nejra cehic. SharesCredit Suisse trading higher after the bank stepped off step up costcutting efforts. Down from an earlier goal of below 18 billion francs. The company lowered profit targets for its International Wealth management business and its asian division. German Industrial Production rose less than analysts forecast in october. Production, adjusted for seasonal swings, gain 0. 3 from the previous month, compared to a median estimate for a 0. 8 rise. It signals that europes largest economy took a slow start to the final quarter of the year. U. K. Prime minister has agreed to reveal more details of her plans for brexit, bu
Role and the response of the democratic process themselves and particularly it was invented in the 1920s and 30s not just in world war i which was much less than in europe and still the new institutions were invented by the u. S. Democracy institutions. So there is a lot to learn. We shouldnt just be me that they were starting years ago. They have been with us forever and there is a lot to learn on the perspective. As most of you probably know it is an extension of the property tax to include the attacks on the other properties and that has been called utopian by some people, but if the income tax was called utopian 100 plus years ago, could you talk about the iq test experience for the income tax . Its partly about the notion that we were appalled about the idea of the income tax but we began to tell a personal story. And as i listened to them talk about this, think about every time how its the story of our understanding of ourselves and why we are in these economic circumstances. So
They are, in henry james words, perfectly equipped failures. And i wanted to talk about them beginning with huck finn because i think huck finn is americas literary declaration of independence. And i felt that at the end of huck finn that people started moving out and going to other landscapes of america. So babbitt becomes the antihuck which is the standardization of thought. That is what is really threatening us today, indifference, sleeping consciousness which is all the things that is talked about. Okay. And then carson [inaudible] and then, of course, the great, the incomparable James Baldwin who was not just a writer, not just an africanamerican writer, not just a gay africanamerican writer, not just an american writer, but a writer. Who speaks to all of us and whos so important today. And i think we should remember baldwin. I dont have time to go into it. And i want to end by a quote from mark twain. Mark twain gives a talk to what he calls the mayflower tribes, the descendants
[indiscernible] finishing up with former cia Deputy Director michael morell. We will air this again later in the program schedule, or you can watch it again shortly online at cspan. Org. We do have more life events coming up today. Joe manchin will be speaking at the Brookings Institution this afternoon. He will be talking about governing from the middle. Watch his remarks live at 2 00 p. M. Eastern on our companion network, cspan3. Later, its more from the road to the white house with Hillary Clinton. She would making her second appearance in iowa. She is talking about ideas to expand small business. You can see that live at 3 45 eastern also want cspan3. President obama is traveling today, he will be in new jersey this afternoon to talk about Community Policing here it he is expected to talk about a drawdown in the amount of military equipment being provided to Law Enforcement. That starts at 3 10 eastern. Youll be a watch it online at cspan. Org. The president is expected to acknowl
In fact wealth does not trickle down it trickles up. It trickles from everyone else to those who are rich and he demonstrates when he says that it keeps happening as i said over time and over country. Does that sound about right . [speaking french] it was an issue of education and the production a reduction inequality between countries and it means everybody has access to the jobs and so institutions in the labor market and minimum wages are part of what you make a difference. Right now the real value of minimum wage at the federal level is the u. S. Is less than what it was in the 1960s which is quite peculiar given a country half a century later has the minimum wage. And to a large extent was invented in this country. It can make a difference all these different forces come education, the social institution can and sometimes in the past has been able to produce different outcomes again particularly in this country. Now going to your point about whether or not this is an actual and it