Vice president of Public Programs at the new york public library. Its a privilege for the library to host tonights program celebrating Mike Wallaces new book, greater gotham. The longawaited sequel to his book gotham. Greater gotham picks up the story at the turn of the last century, a period when new york experienced unparalleled growth, expansion and consolidation when much of the infrastructure was developed and when many of our institutions were founded including this one at the new york public library. Incidentally the room in which we are seated was carved out of what was once the reservoir and there is a great illustration of that in the book. Its a special honor for us to host this program not only because of the importance of the book and its subject matter but also because mike wallace who is a fellow in the Coleman Center for scholars and writers and a resident in the allen room researched a good deal of the book right here in the librarys archives. The librarys holdings on
Further decline. 2018 has to offer both good and bad. Ramy we are getting breaking news on the south korean front again. We have cbi today, inflationary prices coming in line with what estimates were. A nice rebound from the decline we saw in the previous month. It slightly exceeded what economists broadcast. You know we have been talking quite a bit about where inflation is in the market here in the u. S. And japan. Really there is no difference in south korea though they may be in a little better shape. It is perplexing. Because things are low, they are bound to go up. I a magic the Commodity Markets will kick in. The commodity market will kick in. Fact that an expected tightening from the fed and others is a key risk to watch and 2018. Betty certainly we are watching the markets here today in the u. S. Lets quickly pull up where we ended up and u. S. Markets today. 1 5 of 1 . Er by the nasdaq also higher. Pretty much green across the screen. A lot of people are not taking on any hug
Halt. The data not voting well for euro zone member which is are due imminently. Deals galore from goldmans. The invest ment bank selling its mines. And inturn buying deposits from ge capital. So that has come out. We have gdp from the Second Quarter at 1. 3 . Thats in line with expectation and an improvement from 1 the previous quarter. Thats the year on year number. The quarter on quarter number has come in at 0. 3 against a forecast of plus 0. 4. So fractionally below expectation which is some what in line with germany and italy earlier. They were both fractionally below expectation where france was significantly below and spain was significantly ahead. Overall the gdp number below expectation. Lets talk about the health of the consumer. Were just getting a look at the inflation picture in the euro zone. Consumer prices falling 0. 6 on the month. Rising 0. 2 from july of last year. Thats in line with expectations. Of course well below the 2 target that the ecb put in place as the me
Openings. Aredifficulty that firms facing in hiring workers, the level of confidence we see in surveys about the labor market. All of that is pointing to the vast and continuing improvement in the labor market. We see sufficient strength in the economy in terms of spending, that growth with its nevertheless, but looks to be Strong Enough in the median term to support ongoing improvement in the labor market. All of that is good. The American People should feel steps were taken to normalize Monetary Policy, ones that we feel are well justified, given the substantial progress we have seen in the economy. Inflation is running below where we wanted to be. We have talked about that a lot during the last hour. This past year, it is not clear what the reasons are. It has not been mysterious in the past. Inflation has been running below are 2 objective. We are committed to achieving that. The monetary path that we follow, and the pads my colleagues are writing down in our projections are ones w
Just a couple of quickckan announcements, the next adventure at the club will be the first thursday. The next event the first thursday october 5, and that will be the Farewell Party to the chairwoman who she and her husband moved to washington, d. C. Her husband, david who is a noted economist is the undersecretary of the treasuryne for International Monetary affairs said hes been confirmed as the undersecretary of the treasury. B he apparently is going to be here that night so it is a great opportunity for us to celebrateo them and wish them all the best to keep up a good connection in washington. The first thursday october 5 will be two weeks or so so it will be a great event. Please make sure you come back for that and i want to put in a plug its very nice for us to come here and talk and complain about the city is not going in the right direction. G but now is the time for us to be doing something about it and the time to get involved in campaigns. Whether you want to get involved