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Joel weber. A solitary figure on the cover this week, chairman jay powell. We often try to take something complicated and simple it down. The cover is an expression of that this week. Jay powell, fed chair, probably the most important person in the world of finance. He heads the Financial Institution that is probably the most important anywhere in the world and for a year now, hes been the target of trumps twitter ire, because trump wants lower rates, lower rates, and jay powell has basically been a stoic figure through all of that. Carol we believe this is an independent organization and for the first time, we are wondering is it going to remain independent . And can they continue to fend off the executive branchs desire for lower rates . We will see what happens this next week with rate cuts. The market basically thinks there will be a rate cut. The bigger story is one we wanted to ask to dig into, which is for a year now ....
2. 5 and maybe more. 1. 5 for the 10 year. Someone saying we will see tremendous reinflation over the next 10 years, buy gold. And on the other side, and have someone saying, 10year yields are going to zero. I dont want to think of a world of zero interest rates. That is where we are heading over the next couple years. 0 for the u. S. Treasury seems like an excessively pessimistic forecast. We have had the recovery, its coming to an end. If you believe that the Business Cycle is coming to an end, that call makes sense. Now the Central Banks are falling into line and cutting rates, one after another. When we start to get this polarization of views, it tend to be close to regime changes. I am not saying we will get there right away. Something is going to give. That is the journey we are on until Something Different hap ....
Attendance to make sure to silent all Electronic Device prevent interpretations. Should you have documents to be included submitted to myself the clerk. Public comment will be taken on each item. When your item come up and Public Comment is called lineup to the west side to your right my left. And while not necessary to provide comment we invite to you fill out a comment card and leave them by the doors if you wish to be recorded for the minutes. You may submit comment in writing e mail them to myself the clerk at brent. Jalipa sfgov. Org. If you submit comment via e mail tell be forwarded and included part of the fortunately file. You may also send written comments u. S. Postal service to 1 dr. Carlton b. Goodlett place room 244, San Francisco, california 94102. Items acted upon today will appear on the board of proir ....
Good morning. Welcome to the may 8, 2024 meeting of budget and finance. Im connie chan, chair of the committee joined by vice chair mandelman and supervisor melgar. Our clerk is brent jalipa i would like to thank kaleena mendoza for broadcasting the meeting. A reminder those in attendance to make sure to silent all Electronic Device prevent interpretations. Should you have documents to be included submitted to myself the clerk. Public comment will be taken on each item. When your item come up and Public Comment is called lineup to the west side to your right my left. And while not necessary to provide comment we invite to you fill out a comment card and leave them by the doors if you wish to be recorded for the minutes. You may submit comment in writing e mail them to myself the clerk at brent. Jalipa sfgov. Org. If you submit comment via e mail tell be forwarded and inclu ....