Labor and management bargained until 12 30 this morning. They resume at 10 00. Theres a gag order so no information about whats happening in the talks but a federal mediator said there is no strike today. We are intimately involved in the negotiations. We are devoting all our efforts and energy to achieve an agreement. No questions. The talks went on for another two hours. One person not at the talks yesterday was thomas hock. He will be back today after a trip to disney land. He spoke at a conference there. Union members say his absence was helpful. They complained about him during the negotiations. So are you sick of all this . Many are but most are just tired of staying up light to find out if the trains are running or not. Everyone is up until midnight twittering, facebooking, texting each other. How are we going to get to work set up a carpool . Well keep you posted on the latest developments throughout the day today and you can always go to kpix. Com. Ac transit is trying to conv
And challenges to the fed independence and its a topic that many of the audience members are working on. Where do you think the greatest threat to Central Bank Independence comes from . Is it from the innovative policies on the macro prudential side and the dealing of Financial Institutions or aggregate Financial Sector or innovative policies on what i call the Monetary Policy side dealing with the stimulustype role. That is a political question and im not sure i can do it justice. Let me just say a preliminary thing, i dont think the central bank should be equally independent in all of its functions. There are good reasons to have independence in Monetary Policy making subject to a mandate or subject to objectives set by the Democratic Parliament or legislature and we understand those reasons having to do with avoiding shortrun political intervention in Monetary Policy and the like. But in many of its other activities, for example, as a bank regulator, while we believe Bank Regulators
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On Dec. 26, 2019, Gerry passed away in Eureka, California. Lois eventually moved to Dayton, Ohio, where she passed away on May 4, 2024. Gerry and Lois both spent their