Worn surging numbers may undermine a Global Recovery. Plus, we discussed prospects for the u. S. And the wider picture with the atlanta fed president , who joins us this hour. Haidi lets look at the sydney staggered open, the friday session muted compared to the street we have had in asian stocks, asiapacific stocks seeing 13 consecutive days of gains broken by the thursday session, the longest winning streak since 1988 coming to an end. A flat stock a flat start in sydney, kiwi stocks up, muted start in japan spite heavy inflows of foreign buying. We are seeing a further downside when it comes to trading in the futures session. Getting secretary mnuchin speaking at the moment. He is speaking in an interview with Bloomberg News, saying financial conditions are quite strong, that companies that are need grants,covid not that. We heard secretary mnuchin earlier asking the fed to return unused coronavirus money. We will get you more as we get those comments. This is coming at a time when
Greetings can you hear me . Is that okay . Hi, melissa taylor, delighted to be appear creative director of the festival and National Book review. Really happy to be here. Welcome, it is the 35th annual printers row lit fest. It is presented by the near south planning board. I would like to give a special thank you to all of our sponsors for their support this year. It has been an amazing year, people really stepped up. Especially wintrust, our sponsor, they mccormick foundation, alpha wood foundation, tribune, Chicago Tribune. 3l real estate and of course cspan s booktv. Todays program will be broadcast live on cspan2s booktv. And if there is time at the end of the q a, we encourage you to use the microphone over there in the center so the home viewing audience will be able to hear your questions. Also, as a reminder, we request that you silence cell phones and turn off those camera flashes. And im so thrilled to be here. Its really, it is an honor to be here in conversation. So, the q
So, he trusted them too much, it turned out. Sunday night at 8 00 eastern on cspans q a. Next, economic scholars and banking experts discuss Monetary Policy and the impact of past Federal Reserve actions on small and large Financial Institutions. This was held by the American Enterprise institute. Its about an hour and 45 minutes. Good morning and welcome to the American Enterprise institute. This morning we have a very interesting policy session entitled how has a decade of extreme Monetary Policy changed the Banking System . Weve assembled a panel of experts, who well introduce you to in a minute. But before that, let me just set the stage here. As you all know, the financial crisis changed the Banking System. The resolutions that happened in the crisis integrated commercial and Investment Banking like never before. These resolutions created todays too big to fail institutions. The crisis led to greatly expanded fed emergency liquidity support. The fed became the lender of first reso
And if you look at the ones that are either negative, bank of new york, hsbc, they actually slunk. Citi group, they grew it less than the inflation rate. So the regulations have really sort of kept the largest of the institutions from growing where as the regionals kind of grew on pace. The large regionals seem to grow about the same rate as credit in the economy. It kept the biggest shops from growing. Is this a good thing or bad thing . I think it depends who you ask. They would probably think it was a pretty good outcome. Did the constrained economic growth, no matter how hard you try to beat the data i do not think which is correct. I dont think is Data Analysis can cleanly identify which side is right. Now, if we go to the Banking System. Equity is up. The biggest use is deposit funding. What we have here is my living, breathing Banking System. What i do every quarter is i take a his gram of the banks over a billion dollars. I wish we could get that to move again. My technical guy
Win sunday. That would be a show of support for his attempts to revive a slumbering economy. Kathleen i am Kathleen Hays in new york where it is just past 7 00 p. M. Thursday. Treasuries rose and the dollar fell on reports President Trump is leaning toward Jerome Powell to be this the head of the fed. Yvonne it is looking to be more like an easy win for shinzo abe on this sunday election. The latest poll we saw, the Ruling Coalition said to have the best election outcome in decades. More than 31 years. That was facing opposition in disarray. The party had was losing hopes in the past couple weeks. Kathleen i guess that is one reason donald trump wanted to make sure everybody knew he would get this fed chair selected before he takes that very important trip to asia. He will have a lot of important business to attend to. The way the polls are looking, it looks like congratulations to abe on a victory. The question will be, what kind of momentum and support this to continueminister with m