I am Katie Greifeld in new york. Welcome to bloomberg markets. We are charging to the finish line this friday. The s p 500 is higher by. 9 . Matching my shirt. If you look at the nasdaq 100, big tech is up 1. 4 . We got some earnings last night, and they were pretty good. Look at the bond market. It is interesting. You have the 10 year yield lower rate by six basis points, even though the core pce price index, the feds preferred gauge of underlying u. S. Inflation, was rising at the quickest pace in quite a while and actually beating expectations. Bloombergs mike mckee joins us to break it down. Walk me through this Market Reaction. Michael the Market Reaction is interesting. We are at status quo after the pce numbers on wednesday. We just got some interesting information from the university of michigans survey that shows people think that inflation is still going up on a oneyear basis, up to 3. 2 from 3. 1 . The fed is not going to like that. No change in the five to 10 year inflation
Prioritization and those organizations that have shown the effectiveness of their services because theyve received the investment by the city will receive the First Priority i think there are plenty of extremely effective nonprofits that dont see the city money and they maybe at risk. I dont know if that i agree with that kind of so we have a lot of wonderful nonprofits some receive city money and some dont. Again, this is criteria that the agency would set forth. We dont make that determination in the legislation. So i guess in terms of when we come back when this comes back for release requested release from reserve i dont know when that will be in a few guess so or months what will you have to present to us . Will you have the structure in place including the criteria in place . And yeah. So were completing now is the report itself which talks broadly about the overall policy recommendation. What we anticipate is bringing the full report. We were also planning on bringing to you a d
Supported this and it was cast the Community Arts stabilization artists 14 years later weve acquired 2 building now, its going to be the hospitality house and so forth. Of course, in the long term we want to be able to see were Property Owners so were not using the tax to go back to Property Owners. The largest beneficiaries of the tenderloin market area is the Property Owners theyre the ones that have seen the tremendous growth in their bottom lines as Tech Companies have moved into the areas but theyre fully paying their taxes and theyre addressing one the outcomes of the thought rising represents but particularly south of market. I apologize. I focused so much on my area but thats one area i know the mission and particularly its impacted by the economic growth. The one thing i want to add if were going to have a hearing we should look at the the stock option tax break that it was granted a couple of months offered by another supervisor that has had huge impacts in the city of San Fr
Need to look at the entire corridor. We may be looking at opportunities for second floor space and putting people in building to combine the social service organizations. To let you know were looking every single opportunity. Were coming before the whole board because were comfortable presenting it to the board as a whole we need all our support in order to make this a successful effort. Thank you supervisor kim supervisor wiener thank you first of all, i want to thank supervisor yee for the amendment to send this to the full board or place it on the full board reserve. I do have some questions for commissioner chiu. Ideally this supplemental will be coming to us after the report is come out and after mow missouri and the arts concentration has put our their criteria. I and some others expressed concerns about the four and a half millions which is really nothing underlying it we have a major problem in our Nonprofit Community and we have to help it was a little bit premature. Having th
City owned facilities yes there open the capital plan and fatally apart but the city keeps delaying and delaying and delaying to a point if those facilities close down we lose artists and access to arts space again, were just not taking care of those buildings the way we should especially the Latino Cultural Center and the other facilities i dont want to see them included from applying from either pool of money as a way to maintain their facilities so they continue to serve the Arts Community in the way they have. Most of the time those are not well established organizations those are not people who are using those facilities w that can afford to pay rent. This is where artists first get their break. I dont time to see them included so i want to see the changes necessary for them to apply for either pool like any organizations in the city. Oh, and lastly ill say again, im more comfortable before the funding is released that a plan will come back to the board to have a clear understandi