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Well, if the fed were to raise rates too soon, senator, we would risk undermining a recovery that is really just taking hold. And is really succeeding, i think, in improving the labor market. As as i said, i dont think were back to attaining yet conditions id associate with maximum employment or normal labor market conditions. Things have improved notably. But were not there yet. And so we want to see a healthy recovery continue. In addition, as you mentioned, inflation is running well below our 2 objective and while we think a significant reason for that is because of transitory factors, most importantly the decline weve seen in energy prices, we are committed to our 2 objective. Just as we dont want to overshoot 2 on the high side, we dont want to chronically undershoot 2 on the low side either. So before raising rates, we will want to feel confident that the recovery will continue and that inflation is moving up over time. There are also, of course, risks of waiting too long to remo ....
I am francine lacqua. A flurry of bank news. Standard chartered has named a new box, bill winters. War on the this. Caroline hyde. Caroline, everybody has been sinking about who will take the job winters has been a perennial for every bank to be the next boss. You wonder why this one. They say in a statement that he is a globally respected banker and he has the right skills to drive it and conduct. Standard chartered has seen a series of scandals notably sanctions violations. This is why bill winters is coming in as a new ceo. He was really coceo of jpmorgan and went to set up his own asset class in 2011. There you see it. On the biggest independent commission on banking. A man who knows regulation, a man who knows response to the new working environment. Every single tank these to be negotiating. Every single bank needs to be negotiating. The logs ever serving ceo in u. K. History since the longest serving ceo in u. K. History. He almost tripled the assets to 90 billion. Very focused ....
Caught laundering nearly 1 billion in drug money. You heard the gasp. laughter what . Whats that . And like in most cases of drug cartel money laundering, the perpetrators were sent straight to pay a fine. laughter case closed. British bank hsbc is under fire again. The companys Swiss Banking arm is accused of helping clients hide billions of assets from International Tax authorities before 2007. Jon still breaking the bleep laws. I know youre british but keep calm and carry on wasnt meant for major financial crimes. Of think you can hide in switzerland . You should have known, where theres cheese theres a rat. None of this would have surfaced had it not been for this man, herve falciani, an hsbc Computer Security specialist at the geneva, switzerland branch. laughter jon falciani is a computer specialist. With a fa ....
And yet some continue to dismiss calls for change or more transparency at the fed. I would argue, however, that theres an even greater need for additional oversight by congress, and further reforms. Our central bank is expanding its influence over households businesses, and markets in recent years. Not only has it pushed the boundaries of traditional Monetary Policy but its also consolidated Unmatched Authority as a financial regulator. As the fed grows larger and more powerful, much of this authority has become more concentrated in washington, d. C. , and in new york. The fed emerged from the financial crisis as a super regulator, with unprecedented power over entities that it had not previously overseen. With such a delegation of Authority Comes a heightened responsibility, i believe, for the congress to know th ....
Caught laundering nearly 1 billion in drug money. You heard the gasp. laughter what . Whats that . And like in most cases of drug cartel money laundering, the perpetrators were sent straight to pay a fine. laughter case closed. British bank hsbc is under fire again. The companys Swiss Banking arm is accused of helping clients hide billions of assets from International Tax authorities before 2007. Jon still breaking the bleep laws. I know youre british but keep calm and carry on wasnt meant for major financial crimes. Of think you can hide in switzerland . You should have known, where theres cheese theres a rat. None of this would have surfaced had it not been for this man, herve falciani, an hsbc Computer Security specialist at the geneva, switzerland branch. laughter jon falciani is a computer specialist. With a fa ....