Main drivers for todays action. Coming up, sara eisen will talk exclusively to boston fed president eric rosen gren. These will be his quiet moments before going into a decision joining us for the hour is jim lacamp, Senior Vice President of Wealth Management at uvs i feel like when you look at this market there is a Little Something for everybody. You can find a reason to be bullish, bearish, we are all awaiting the feds decision what do you make of todays action and ahead of the fed decision. We have seasonality coming up, too, late july to late october is usually our most volatile time period in the market risks are symmetrical right now. We have upside, corporations are doing fairly well if you break it down to individual stocks and companies and a few sectors, theyre doing extremely well, and we have a tenyear treasury yield that is lower than the yield on the s p 500 so rates are very friendly, particularly if we get a rate cut, we think half a point based on what the fed governo
Reagan administration. I served for a few years at the office of management and budget. It was at that point i saw how these entitlements grew and how difficult they were to control. That was the origins of my interest. Host how long were you there . John i was there for three years. I served prior prior to that at the department of labor. I left omb in the mid1980s, there returned in 1988 to serve as the deputy at omb and return to stanford. Lessons thatre the you learned working at the office of management and budget. John the main lesson was just how difficult it is to control spending. It seem like all of the forces in washington were towards war and more spending. Ronald reagan, more than any other president made a comprehensive effort to rein in Government Spending. He was modestly successful. Having been part of that battle, i saw how powerful these forces were expanding Government Spending. Surprise ingest your book was fdr. Tell that story. Think that thele entitlement state b
During the Ronald Reagan administration. I served for a few years at the office of management and budget. It was at that point i saw how these entitlements grew and how difficult they were to control. That was the origins of my interest. Brian how long were you there . John i was there for three years at omb. I served prior to that at the department of labor. I left omb in the mid1980s, and then returned in 1988 to serve as the deputy at omb and returned return to stanford. Brian what were the lessons that you learned working at the office of management and budget. John the main lesson was just how difficult it is to control spending. It seem like all of the forces in washington were towards war and more spending. Ronald reaganw, more than any other president made a comprehensive effort to rein in Government Spending. He was modestly successful. Having been part of that battle, i saw how powerful these forces were expanding Government Spending were. Brian my Biggest Surprise in your bo
He discusses his book, the high cost of good intentions the history of the federal Entitlement Programs. Brian john cogan, author of the high cost of good intentions. When did you get interested in entitlements . John it goes back to my years in washington in the 1980s during the Ronald Reagan administration. I served for a few years at the office of management and budget. It was at that point i saw how these entitlements grew and how difficult they were to control. That was the origins of my interest. Brian how long were you there . John i was there for three years at omb. I served prior to that at the department of labor. I left omb in the mid1980s, and then returned in 1988 to serve as the deputy at omb and returned return to stanford. And then left again and returned to stanford. Brian what were the lessons that you learned working at the office of management and budget. John the main lesson was just how difficult it is to control spending. It seem like all of the forces in washing
It is called the high cost of good intentions, the history of. U. S. Entitlement programs. John thank you very much. I left omb in the mid in 1998hen returned to serve as the deptive omb then left again and returned stanford. What were the lessons that thelearned working at office of management and budget. What were the lessons that you learned working at the office of management and budget. Well it seemed it was toward spen. D more as you know Ronald Reagan more than any other president. How powerful they were. The Biggest Surprise in the if. Was fr yes. Yes. Tell that story. True with Social Security. But the Franklin Roosevelt of was not like the Franklin Roosevelt of 1933. Franklin roosevelt in 1633 managed to roosevelt of 1933. In his first year in office, he removed nearly 400,000 i disabledd war the rolls he re duesed by 50 percent and extra in ry change in the whole history of Entitlement Programs. Interesting about it was the way he went about it. Entered office, of course, we