For equities you got stocks trading heavy bank of america says Fund Managers are overweight. Tech the most since 2021. Is there even cash left to buy any dip here from new york, im alex deal with my cohost in london, guy johnson. Welcome to bloomberg markets. Not as intense as it was a few hours ago, but were definitely seeing a strong up risk off kind of move within the market. Diy and holding up those are two things you never want to hear in the same sentence because it really does. To be honest, im just talking about from personal experience. The consumer thing i think is fascinating. Look at what is happening. You got strong wage data out of the uk, youve got marks and spencer, a stalwart of the british high street, coming out and announcing really strong results on your side of the pond. Home depot back to the to the diy thing. The numbers look good. Yeah. Structurally, i think theres a long term positive story, but what but a couple of things. I mean, one, gasoline prices are qui
And officials fear the actual death toll may be far higher. We will go to maui for the latest and then speak to the climate scientist michael mann. We simply would not be seeing this in the absence of human caused warming, in the absence of the Climate Crisis, the warming of the planet from the burning of fossil fuels. Amy and then to ecuador, where the country is still in shock after the assassination of president ial hopeful Fernando Villavicencio. This is a political crime, the character of terrorism. Amy we will speak to the ecuadoran economist andres arauz who is running for Vice President of ecuador in sundays elections, which are scheduled to proceed as planned. All that and more, coming up. Welcome to democracy now , democracynow. Org, the war and peace report. Im amy goodman. In hawaii, the death toll from the maui wildfire has reached 96 and continues to rise, making it the deadliest u. S. Wildfire in a century. Family Resource Centers have been set up to help survivors despe
We have to give meaning to the word unacceptable. If we say russian actions are unacceptable, what are we going to do as to not accept them . For a toughi argue hardhitting sanctions policy to pushback on this. The two rounds of sanctions were decent first steps. They happened weeks ago. It is past time in opposing additional, hardhitting putin and hisnst allies. We have to shift from a policy of reacting to events on the ground. We need to preempt the aggression. Theeed to continue implementation of the sanctions. The legislation that was passed in 2012 imposed sanctions for abuse of human rights inside russia, we have to do both at the same time. The putin regime is a thoroughly corrupt, authoritarian regime that will do anything to stay in power. That is what we are seeing play out in ukraine. This is an extension of domestic politics. Putins paranoia which was heightened the decade ago he ain when hequed ag saw hundreds of thousands of people turn out on the streets of ukraine. Ins
To 2 . Tendency is 1. 7 if this forecast was to become a would bethe economy approaching what my colleagues maximum employment and price stability for the decade. Me in nearly a i find this baseline outlook plausible. Of course, if the economy ouriently followed forecasts, the job of central easier. Would be a lot and their speeches would be a shorter. laughter alas, the economy is not often so compliant. So i will ask your indulgence for a few more minutes. Because the course of the uncertain, Monetary Policy makers need to carefully is dayor signs that it verging from the baseline in aok, and then respond systematic way. Let me turn first to monitoring three questions i believe are likely to loom large ongoing assessment of where we are on the path back maximum employment and price stability. Concerns thestion extent of slack in the labor market. Fomcs objectives is to pro meat a return to maximum employment. But exactly what conditions are consistent with maximum can be difficult to
Because inflation is now very low, fed policy is focused on reducing slack in the labor market and raising inflation to about 2 . At some point a stronger economy may bring higher inflation rates. With the fed be willing to raise the fed funds Interest Rate above the rate of inflation if the inflation rate begins rising above 2. 5 even if there is still slack in the labor market question mark so let me emphasize that our commitment is twosided. We do not want to see inflation run persistently below our two percent target. We also do not want to see inflation run persistently above our two percent target. Agofomc about two years wanted to make very clear that we have a very strong commitment to a two percent longer run inflation goal. And we for the first time issued a clear statement that 2 as the longer run inflation goal and we remain committed to it. This continues to be the case. Although with inflation running , at this when, as i mentioned, i think the risk is greater that we sho