leave interest rates unchanged in june. leave interest rates unchanged injune. charles lieberman, who has worked at the new york fed and is now chief investment officer and advises capitol management explained the rationale. rationale. the fed has tightened rationale. the fed has tightened monetary i rationale. the fed has - tightened monetary policy quite dramatically quite quickly, basically a phase with five percentage point increase in a little more than a year. and thatis little more than a year. and that is huge. historically it is an enormous increase. and i think there is a loss of there is one view that the feds should wait to see the impact of what they ve done. any should wait to see the impact of what they ve done. any break ma be of what they ve done. any break may be short of what they ve done. any break may be short lived. of what they ve done. any break may be short lived. us - may be short lived. us inflation are still running well above the feds
quicklx the fed has tightened policy quickly. a increase in excellent bit over a year and that excellent bit over a year and that is excellent bit over a year and that is huge, historically it s a enormous increase and i think is a lot, a enormous increase and i think is a lot, there is one view that is a lot, there is one view that the is a lot, there is one view that the fed should wait to see the impact of what they have dona any break may be short lived. us inflation is still running well above the fed s 2% target. so the pain from higher borrowing costs to companies and to consumers is likely not over, according to diane swonk, chief economist at kpmg in the us, who believes the fed will raise rates again injuly. pauses not at an end. we have seen pauses not at an end. we have seen the pauses not at an end. we have seen the fed play overgrown with seen the fed play overgrown with words like skip they don t want with words like skip they don t want to
The chart of the day, check out the yield curve. 210 spread. Points, we have seen the biggest decline in that 1980 ore like 2007. David what happens when we get to 50 . Do we have confetti . Alix that is bad. Get u. S. Adp5, we employment change data for the month of november. In london, Philip Hammond will be speaking at the Treasury Select Committee at 9 00. In washington, President Trump is set to make a statement on moving the u. S. Embassy in israel from tel aviv to jerusalem at 1 00 this afternoon. That is coming up today. Our top story this morning with the daybreak first take. Risk off markets overnight. Bitcoin hitting new heights. Of course, brexit because we always have to talk about brexit. Joining us are Lisa Abramowicz and joe weisenthal. Lets start with the risk off. What is going on . Joe good morning, i have no idea. It feels to me like the themes are international enough such that it is hard to point to one thing, except that a lot of things that have been working ver
Cheer as the cryptocurrency heads to a bigger wall street stage. Hello from sydney where it is just past 9 00 a. M. Im haidi lun. We are in our out from the open of asias first major market. Kathleen im Kathleen Hays. Sometimes we say monday night, sunday morning in the u. S. A quiet recap. Between Bitcoin Futures getting ready to launch and the tax plan on friday, i think we have got to wait to see how much this does not just rock the u. S. Economy, how much it rocks asian markets as well. Haidi absolutely. With the comments, marco rubio throwing a stunner into the works and getting more pessimistic about tax reform. All of that seems to have changed. We could get the crucial vote before christmas. As you say, bitcoin mania again making headlines yet again. The thing to remind ourselves of is that this could be a much bigger deal given that there are expected to be much more players involved. Kathleen the cme is a much bigger stage. If we look at the cbd launch as a curtain raise, a p