Continue to work side by side to provide support to the economy until it is clearly out of the woods. For more on this were joined by boom bust cohost chrystia and former fed insider danielle de martino booth danielle fed minutes are in focus today and are specifically investors are going to be focused on inflation averaging an extended rate guidance this is these are the last minutes before the election thats just weeks away give us some color on that and how is the market digesting this latest update. Well so i think the market is interpreted in todays minutes as saying the fed is standing ready to monetize to print money to satisfy any stimulus spending that comes out i think the obviously the hurdle here is is actually Getting Congress to act but again the fed is showing a willingness especially with what powell said yesterday. There was no way that there could be too much stimulus and that is fed speak for saying whatever it is if its 2 or 3 or 4 trillion dollars whatever the price tag is however many treasuries are issued we will buy them in the open market and ensure that there is a smooth transition to getting that money from congress out to the people we get that in spades the problem is that fed policy so far has proven that it doesnt do a lot in terms of satisfying its 2nd mandate it can keep the stock market out thats what quantitative easing does thats what money printing does thats his part so to speak of Monetary Policy but again that policy is not doing a lot and the stimulus is expected to come after the election really also doesnt address the underlying obstacles and challenges that are facing this economy right now when theyre planning to maintain the Interest Rates near 0 something that they continue to say what the play should monitoring at about 2 percent on average so it could go a little bit higher than that do you see that happening. It doesnt really matter if i see it happening or not i actually i think if theres a lot of stimulus spending to the degree that were going to potentially talking about in the years to come that the fed could get a lot more inflation than what theyre expecting what fed officials are expecting out to 2023 according to their own inhouse forecast is for the p. C. Either core p. C. Either they gauge Monetary Policy off of to get as high as 1. 7 percent which means that they dont even see 2 years out the need to begin to think about thinking about lifting Interest Rates off of that 0 bound they anticipate going years and years and years into the future my biggest guess would be that if theyre talking about possibly you know growing the debt by 50 percent or 75 percent which is what is conceivable again giving how. Poorly conceived stimulus spending is at the moment how unproductive it is its not providing people with with job skills its not providing Infrastructure Spending right now that people put people back to work it is paying people to not work that kind of stimulus spending simply needs to be replenished every 3 to 6 months over and over again as long as the feds there to print it i suppose that works but it doesnt do anything in terms of achieving long term escape velocity for the u. S. Economy well Kristie Powell has said yesterday the risk of further stimulus is low as we heard is it really it whats your take on this i mean i think were in a very difficult position right now and there really is no good option because as of right now if there is no stimulus we risk falling further and given that were in a weakened state already after being battered by the coronavirus for the past 7 months that downside is going to be pretty ugly Going Forward however on the other hand if we do get more stimulus if we do print more money as we have been we do risk run the risk of hyperinflation because since september 19th the fed has pumped over 9 trillion dollars to prime in dealers and in 2020 alone the u. S. Has created about 22 percent of all of the u. S. Dollars issued since the nations birth so the u. S. D. Has been around for about 200 years so to have a quarter of all the u. S. D. Ever printed in one single year thats just mind blowing at this point so this massive creation of money stemming from the fed will eventually cause hyperinflation especially as the dollar has already lost considerable value since inception 1913 the cumulative rate of inflation is now sitting at about 2625 percent which means that something that cost a dollar back then now today cost about 26. 00 so the risk of hyperinflation is real weve seen it before in other countries weve seen it quickly spiral out of control and history has shown that. Simply cant print your way out of money it always comes due and the dollar has played its role right now for about 100 years and also history has shown that 100 years is about the average lifespan of a global reserve currency so thats always something to keep in mind when were talking about this unlimited printing that the fed can do still still an eye on that the u. S. Economy its in danger of shifting into reverse once again as cases are actually beginning to rise along with flu season a 2nd wave of coronavirus cases more significantly limit this Economic Activity obviously especially as it will be hitting during this peak consumption holiday period here in the United States how is the 4th quarter looking. Well and you know it really depends on whether or not theres stimulus spending to allow for all americans to go out and go Christmas Shopping i hate to say that thats the case but it is but to your point with Colder Weather despite the fact that weve seen some very encouraging news in terms of treatments for the coronavirus but with Colder Weather the ability to be indoors and closed to other people improperly social distance is indeed going to hurt a lot of restaurants that wont be able to accommodate at that capacity limitations that are being set forth especially again as as regular cold and flu season kicks in so we have right around it right now in america one in 7 Small Businesses has closed their doors permanently and were starting to see much more importantly white collar layoffs increase and that will trickle down in the form of further Small Business closures because those are the customers who theyre relying on so right now the wrist the Holiday Season outside of what the stock market is doing for the half of americans who do own stocks the risk is that there is a disappointment in spending in the 4th quarter again barring any massive consumption spending that is able to quickly enough be delivered to the recipients and they really are keeping an eye on what the wealthy are spending on it and more so. Oh how the poor less fortunate are cutting back on their spending for this Holiday Season boomers cohost christine former fed insider danielle de martino booth thank you for being with us today. On wednesday us chip maker broadcom announced it will and its exclusivity deals with europe putting an end to a year long investigation the European Commission accepted a deal stating broadcom will suspend all existing agreements containing exclusivity or quasi exclusivity arrangements and or leveraging provisions concerning systems on a chip for t. V. Set top boxes and internet modems and has committed not to enter into new agreements comprising such terms the deal comes after trust regulators launched an investigation into broadcom in june of last year over anticompetitive practices this ends the inquiry without a finding of wrongdoing broadcom concessions are valid for 7 years. Are Congressional Democrats laying out a plan to break up these Big Tech Companies a slew of proposed laws being introduced by House Democrats could potentially do just that the proposals by democratic staffers on the house judiciary antitrust subcommittee would be the most significant changes to federal antitrust rules in decades they are the culmination of a 16 month bipartisan investigation that drilled into the practices of Facebook Google apple and amazon joining us now to go about these proposals boom was cohost an investigative journalist and swan break this down for us what are these new rules looking like. Yes so essentially what the House Democrats have done is theyve put together about a 450. 00 page memo which takes a look at these Tech Companies in a centrally it tries to to before solar treats them as if they are robber barrons right it specifically mentions that not since the days of the Railroad Tycoons and the oil tycoons when antitrust was 1st created have we seen the kind of monopolies that we see now but specifically these this report focuses on a couple of things that focuses on amazon on google on facebook and on apple and what it does is it essentially says that these companies are creating essentially anticompetitive practices by setting up systems where they are able to monitor their competitors they are able to buy out any rivals who come along and they are able to create a system where they are competing directly on their own platforms that are supposed to be open to competition against their own competitors so if you think about amazon for instance thats probably the most obvious case of this where you see amazon has set up in the past its own product lines that competes directly with 3rd Party Sellers who are on their site so thats one of the things that theyre looking at here but the Bigger Picture of what theyre saying is that these companies have an unfair advantage and if this these these proposals that theyre setting forward were to become laws it would have an enormous impact on the big tech landscape because one thing it would do is it would actually ban those companies from having their own products on their own platforms they have to either be a product platform or they have to be a product creator and maker but they cant be both and the other thing it would do is it would ban them from being able to buy up a rival in the event of their rival to their own Company Emerges and that would also have a huge impact them and talk about the timing of all of the thing its pretty interesting here is that the Trump Administration already pushing to get antitrust case against google. Yeah they absolutely are so attorney general bill barr has actually pushed government lawyers to get this antitrust case against Google Google excuse me moving forward as quickly as possible in fact he had said that he wanted it by the end of september to file this it has not happened yet but he wants to file this case essentially against google again for anticompetitive practices and whats interesting about google specifically though is that as a company you know if you think about google you would say well heres a company that has you know in the enormous market share more talking about such a large market share that its difficult to even comprehend almost 80 to 90 percent of all searches in the world happen through googles platform and so when you think about that you have to say well google has a an unfair competitive advantage thats what the trouble ministration says but remember googles not just a Search Engine the Parent Company of Google Alphabet owns all kinds of Mapping Systems it owns you tube it owns Google Search it owns the enjoyed operating system so it has so many Different Companies that allow it to then use data to essentially compete with other companies and we know that in europe sarah theyve had a lot of problems google has in terms of violating antitrust laws across europe but they just pay fine in fact they paid a record 5000000000. 00 fine just a few months ago but they continue to take on the same socalled anticompetitive practices that they got in trouble for in the 1st place but then you talk a lot about google of dominance here as a Search Engine but isnt that what consumers want. Oh so thats thats debatable right it really is the bait also google would say is the reason that we dominate searches more so than any other company 80 to 90 percent of all searches globally happen on google is because were the best Search Engine but what in this case these lawmakers are essentially alleging and staffers for them are alleging is that google and by the way the german ministration is also alleging this in their antitrust case is that google is not given this competitive advantage because they are a superior technology or Search Engine its because they created an android operating system which they then use to make google the default Search Engine on basically every mobile device that uses enjoy them really here in the United States theres really only 2 competitors there you have apple the i. O. s system and you have the enjoyed operating system well worldwide android is a huge number of phones and when its the default Search Engine on the Android System there is an unfair competitive advantage that violates antitrust and by the way thats what europes looking at right now as well where google was forced to do this auction where they auction off that allow companies to to bid and then when that happens they say that theyre making it open but again Search Engines around the world are saying googles not doing that is a pay to play scheme that google set up that they always rate for themselves. That just because thats the default doesnt mean its necessarily the best as we know with other products absalom left to an investigative journalist and so on. Time now for a quick break but when we come back stocks rallied on one say in response to President Trump reversing his course on stimulus and calling on congress to pass a smaller amount of aid we have a panel standing by as we go to break here the number that the clubs. Nuclear so become a battleground in the u. S. In vermont people are demanding the shut down of a local plant from my yankee is right now my focus because its a very dangerous oh no clare power plant the owner is attempting to run the reactor beyond its operational limits this case just sort of puts a magnifying glass on wheres the power in this country wheres it going is it moving more towards corporate interests or is it more in the idea of a traditional participatory democracy is for power lies with the people this case demonstrates that struggle in the very real. Struggle. Was abundant make no certainly no borders and is blind to nationalities. Has emerged to be wheedled to look like the whole world needs to be. Judged as commentary crisis that is disappointed in modern times we can do better and we should. Everyone is contributing each of our own way but we also know that this crisis will not go on forever the challenges created the response has been much so many good people are helping us. It makes us feel very proud that we are in it together. Clint. Hill and just a simple job but the bill is doubled ill just. Keep going i want to look at what well you know i look like the. Illegal to believe but there are your are also friends so that the odds are still so but the sole real goal being to do something this year. Which. Should. Be valued was only about the physical reality ill go in but i was able to put them on the back you know were there. I. Know what weve got to do is identify the threats that we have its crazy going from day shouldnt let it be an arms race is on all sides spearing Dramatic Development the only relief im going to resist i dont see how that strategy will be successful very critical time to sit down and. Just hours after President Donald Trump tweeted for congress to halt stimulus negotiations pushing stocks down while the president is reversing his course on a call on congress to pass relief for airlines paycheck protection programs for Small Businesses and a new round of 1200. 00 stimulus checks for americans trump announced these new. That we had twitter lay on tuesday and said that hes ready to sign these measures and hes ready to sign them now to take a deeper look at what this means were joined by host of the new the rick sanchez. Self and host of economic day professor Richard Wolfe gentlemen thank you for being with me today rick lets start with you were just weeks away from the president ial election President Trump is clearly frustrated that he cant be out on the campaign trail with after having tested positive for crown of iris hes been without symptoms for a few days now is what doctors are saying hes been in quarantine now could this move by supporting a bill for direct payments to americas could this affect the outcome of the election if theres no stimulus bill at all before election day could this negatively affect chances for reelection. Well i would argue not to change its an old game obligations to all give money out to the holder in the weeks before an election its a pretty naked effort to buy votes and mr trump could be counted on to run around the country making that claim which will be that he said. To the people on the other hand why losing it is not giving that being stupid is that the de