Policy play in preserving Financial Stability and how to ake sure that centralbank independence is preserved . Second, with increasingly complex financial interconnections, many small, open, and emergingmarket economies have found a challenging to deal with large changes in exchange rates. How can these economies retain Monetary Policy independence in uch a policysetting, and what tools should they use . Finally, the crisis has galvanized a broad effort to reform the global regulatory framework. There has been progress on various aspects, but much still remains to be done. How will financial regulations and the new structures of the Financial System affect the functioning of Monetary Policy domestically and abroad . To all of these questions, im sure some of you have the beginning of the answers. I know that our speakers will offer their proposals, but i hope that it begins here. Before i give the floor to chair yellen, it is my real pleasure to introduce the person to whom this lectur
Banking, payment, accounting, and financial infrastructures. The work was enormous. And here i must take off my hat to the exceptional dedication of the staff working in d. C. Then we had the asian crisis. It was a very different kind of episode. We had Central Banks there. They were severely tested in the affected countries. We had a few false starts in some cases. You may remember them pretty well. Also, decisive stabilization measures. More important probably are the lessons which were learned from them, by them and by the imf, in that occasion. One was that financial vulnerabilities can even be when macroeconomic fundamentals appear sound. This was the surprise of that moment, one of them. Another was that the risk from large and volatile capital flows create larger Foreign Exchange offers. We had some difficulty in convincing our membership that you had to add a zero to the numbers of our loans in several countries. We had some problems with that, but we did it. Then we had the ch
Impact that david was talking about. I think that theory would make more sense if they issued decisions on friday, which might get lost. But i dont think it applies to thursday decisions, which is what they typically do these days. That was good pr advice from the clerk back in the day, but i int inc. I attribute that dont think i attribute that to why monday. Gentlemen, you said something about the difference between being upstairs in the courtroom and downstairs in the press office. Can you tell us about what that differences and how you make the choice . I am in a lucky position that i have a partner who is very fast and handles our on the spot copy. Copy ofte he can get a the opinion, he runs to his terminal and types of what happened. He has prewritten what we call snaps which are like urgent lines that will go to our customers. That gives me the luxury of being in the courtroom. And i worked for usa today the washington post, i could do it all the time. But that was before we had
Back after the tenyear hit a sixmonth high earlier in the session. We talk to pimco chief officer scott mather in just a few minutes. And treasury yields across the pond as well have had a huge gain. Also that picasso painting sold at auction last night, a record 179 million. Economist norle ra lle lle Nouriel Roubini will be here. He thinks some people use expensive art as a form of Money Laundering, unquote. Hes at it again. Hes dr. Doom of the art market. With an hour to go in the trading session, the dow is down about 18 points. Again, fall back into positive territory. An ounce of downward pressure only a little bit. The s p and nasdaq giving up 0. 2 right now. 4 points and 10 points respectively. That level for the nasdaq 4983. Lets talk about this in our Closing Bell Exchange for this tuesday. Chris ressler is with us rob morgan checks in from sethy financial and Kevin Guinness from Raymond James is with us so is ken moret. Kevin, youre head of fixed income there at Raymond Jame
Township upper merion, annville. It definitely was a feisty little line of showers and storms that came through here. Certainly produced a dousing at my house which was beneficial the flowers wanted a drink and the Patio Furniture wanted to be swept clean of the pollen and we did finally have that. We will see a fresh round of showers and storms firing up today. I do not think we will be in Severe Weather threat, with the strong wind but we will end up with, again a fresh round of showers and storms hitting the same area. Outside to beach patrol headquarters in margate calm, quiet start steamy too, we have had fog issues in a couple spots. Things are starting to brighten up now that the sunnies up. Around we will go down the shore specifically we will flirt with 80 degrees in the poconos. Eightytwo the spec high in philadelphia we should make a solid run for upper 80s much like yesterday but have been is fair game for that fresh round of showers and storms. Dont be scattered in nature