Taylor rule, how would would that impede your response to such a crisis . The taylor rule would tell us that it should depend on only two variables the current level of real gdp or the out put gap and the current level of inflation. It obviously wouldnt take into account in any way our judgments about growth in the Global Economy how we expected the european economy would be affected or Global Financial markets by these such developments. So in that sense it really restricts any simple rule restricts the setting of Monetary Policy to a very short list of variables and typically there are current values. Thats one of the reasons. We spent spend a great deal of time and the forecast that we include in our Monetary Policy report that the participants right down, we present to the public every three months. Incorporate all of the kinds of information, what what we think is going to happen in the Global Economy, and those are economic developments. Those factor into our Economic Forecast an
Continued the calls for the destruction of israel. These are the people we just allowed, are all lowg in the process to more weapons and to become nuclear weaponscapable. Just last week iran called, as it has for decades for the destruction of israel. And the death to america. In fact, as irans Supreme Leader stood by calling for the need to fight the u. S. , even if there is an agreement. I dont know that weve ever entered into an agreement with another country before that while we enter into the agreement they say and by the way, no matter whether there is agreement or not we want to continue to see the u. S. As an enemy that we need to fight. This deal undermines the security of our friends and allies it legitimatizes irans unapologetic sponsorship of terrorism throughout the middle east. Interesting what could be included, by the way mr. President , what couldnt be included. Iran has repeatedly refused to abide by International Agreements that require inspection of Nuclear Faciliti
It is a big day for the bank of England Governor Mark carney. A report is starting less than an hour from now. Topping lists the banks Interest Rates and new forecast on the agenda. Republican president ial candidates will debate for the first time tonight at 9 00 eastern on national television, and 9 of them will be trying to stop donald trump from stealing the spotlight. He is dominating polls heading into the debate on fox. One republican strategists said survivalists must tread lightly. Time,has a set amount of six and half, eight minutes to engage in the audience something about you, your policy, and why you watch to be the next president of the United States and why we should vote for you. To waste time going after trump that will burn up a lot of those minutes. At the same time, if he goes after you, you cannot allow that to stand. You can demonstrate to Republican Voters he will be a candidate who fight back. Vonnie the second candidate who did not hold high enough to appear wi
Tom keene in new york. At g7 will focus be china. Tom the president with those comments. What i find remarkable is how all of these leaders seem to be speaking to their homes, but it is not a g7 meeting but it is people talking to america, to canada, etc. Francine especially japan where you see shinzo abe trying to get out of the increase. Lets get straight to the bloomberg first word news. Nejra starting with the g7, angola merkel does not have much support when it comes to austerity. The debate over stimulus versus belttightening has shifted. Canadas new Prime Minister had shifted his countrys focus to Infrastructure Spending and cash. David cameron joins markel as a champion of fiscal restraint. Just a few minutes from now, president obama holds a News Conference at the summit. In france, strikes at Oil Refineries may spread today. Workers at six of eight refineries have walked out. The strike is protesting the president s proposed labor reforms that makes it easier to fire employee
Competing for the limelight. A great exclusive with Vladimir Putin, that it is also jobs day. People want to see the indication of what the fed will do. Tom right. 8 30, but on jobs at certainly the putin interview is front and center. There are a lot of different themes here, francine, not only what he said but what he didnt say as well. Francine right. And it was a twohour interview so we have a lot to get through. Lets get now to the bloomberg first word news with emma chandra. Emma for more on that interview, russia wants to compromise in the dispute with japan, that stretches back more than 70 years. At the end of world war ii, the soviet union occupied four small japanese islands. In an exquisite interview, Vladimir Putin says he wants to develop a longterm relationship. [speaking russian] there is a discussion of this topic, and we did that, we met them halfway. Withe past couple years, our relationship from the japanese side, we have moved forward. Our partners are showing a wi