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Mar 7, 2024
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not a lot of movement as fed chairman jay powell spoke with congress. he spoke to the house yesterday and will speak to the senate today. wall street and lawmakers listen carefully to what he has to say, but honestly he says the same thing every time. he will keep interest rates up until inflation hits the 2% target. powell says they like the data they are seeing. they have no complaints, they just want to see more of it before cutting rates. we will get the monthly jobs report tomorrow, and the average american paycheck up 5% last year, well above the current level of inflation. shares of apple were down for the sixth straight day. it had a number of hurdles laidly. there's a sense it has run out of ideas for the cool new thing. attorney general merrick garland are accusing a former google employee of stealing secrets from the mountain view company and then sending them to china using google's only drive to do it. linwei ding was arrested yesterday, and he started working on software development for ai programs. and then lawmakers in washington are cal
not a lot of movement as fed chairman jay powell spoke with congress. he spoke to the house yesterday and will speak to the senate today. wall street and lawmakers listen carefully to what he has to say, but honestly he says the same thing every time. he will keep interest rates up until inflation hits the 2% target. powell says they like the data they are seeing. they have no complaints, they just want to see more of it before cutting rates. we will get the monthly jobs report tomorrow, and...
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Mar 8, 2024
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video of fed chairman jay powell talking to congress this week. the fed likes job growth, but not too much job growth, as it waits to lower interest rates. we spoke to economist dan altman about those rates. >> chances of a cut in may are probably fairly slim, later this year looks more likely. i don't think the fed will hike rates because i don't think they're that concerned about inflation at this point. they haven't seen inflation accelerating, really. but we should probably be waiting for the second half of this year for the bulk of any cuts that might come. >> now, the fed does not set mortgage rates, but mortgage rates do rise and fall with fed rates, which makes house payments more expensive, as you well know. the biden administration directing fannie mae to cut out title insurance, one of those things you have to pay with your closing costs to try to bring down house payments. it only adds about $1,500 to the closing costs. as you might imagine, title insurance companies do not favor this idea. >>> it's been one year since the meltdown of
video of fed chairman jay powell talking to congress this week. the fed likes job growth, but not too much job growth, as it waits to lower interest rates. we spoke to economist dan altman about those rates. >> chances of a cut in may are probably fairly slim, later this year looks more likely. i don't think the fed will hike rates because i don't think they're that concerned about inflation at this point. they haven't seen inflation accelerating, really. but we should probably be waiting...
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Mar 4, 2024
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. >>> fed chairman jay powell will testify before the senate on thursday, a regularly-scheduled appointment where he'll talk about inflation and the plan on interest rates. then we'll get the monthly jobs report on friday. these reports have been much better than expected. in fact, most of the economic news we have gotten in the last six months or so has generally been better than expected. >>> four nasa astronauts are headed to the international space station. they launched over the weekend, hitching a ride on a spacex rocket. two americans, two russians. we're still cooperating with russia when it comes to space. they should arrive to the station around midnight tonight. >>> it was awesome to listen to the crew and the excitement. you heard matt dominic make several calls to the ground relative to the abort boundaries going up the hill. it was great to hear matt's voice. you could tell they were really excited on their way to the international space station. >> meantime, the crew of the next artemis mission are training. this first one, they're going to go around the moon, but they're not
. >>> fed chairman jay powell will testify before the senate on thursday, a regularly-scheduled appointment where he'll talk about inflation and the plan on interest rates. then we'll get the monthly jobs report on friday. these reports have been much better than expected. in fact, most of the economic news we have gotten in the last six months or so has generally been better than expected. >>> four nasa astronauts are headed to the international space station. they launched...
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Mar 8, 2024
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video of fed chairman jay powell talking to congress this week. the fed would like to see job growth, but not too much job growth as it waits to lower interest rates. what we don't want to hear is a blockbuster number again, something under 200,000 new jobs would be perfect. we spoke with economist dan altman about interest rates. >> chances of a cut in may are probably fairly slim. later this year it looks more likely. i don't think the fed will hike rates because i don't think they're that concerned about inflation at this point. they haven't seen inflation accelerating, really. but we should probably be waiting for the second half of this year for the bulk of any cuts that might come. >> february job report hits our desk 15 minutes from now. the fed doesn't set mortgage rates, but they do rise and fall with fed rates, which makes house payments more expensive. the biden administration directing fannie mae to cut out title insurance, one of the things you have to pay with your closing costs, which can add around $1,500. as you might imagine, ins
video of fed chairman jay powell talking to congress this week. the fed would like to see job growth, but not too much job growth as it waits to lower interest rates. what we don't want to hear is a blockbuster number again, something under 200,000 new jobs would be perfect. we spoke with economist dan altman about interest rates. >> chances of a cut in may are probably fairly slim. later this year it looks more likely. i don't think the fed will hike rates because i don't think they're...
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Mar 6, 2024
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. >>> fed chairman jay powell will testify before the house today. this is a regularly scheduled meeting, with the same thing happening in the senate tomorrow. lawmakers will want to know the situation on inflation and when the board plans to lower interest rates, just like the rest of us. >>> the maker of chatgpt is fighting back after elon musk sued it. musk demanding openai remain a non for profit company, and now openai says quite the opposite was true. at one point, they say, musk told his fellow leaders he wanted to fold the company into tesla and they posted his emails on the openai site. the emails indicate musk wanted to make the system less open as it grew and not share the company's knowledge with the public, pretty much what musk is accusing the company of doing right now. >>> over at x, meantime, musk posted a tweet that contains what they call the great replacement theory, a claim that undocumented immigrants are being imported by the government into the united states, non-citizens, but still voting. that is, of course, not possible. mu
. >>> fed chairman jay powell will testify before the house today. this is a regularly scheduled meeting, with the same thing happening in the senate tomorrow. lawmakers will want to know the situation on inflation and when the board plans to lower interest rates, just like the rest of us. >>> the maker of chatgpt is fighting back after elon musk sued it. musk demanding openai remain a non for profit company, and now openai says quite the opposite was true. at one point, they...
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Mar 20, 2024
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jay powell saying in a press conference that he feels like the state of inflation still remains largely status quo. take a listen. >> i take the two of them together, and i think they haven't really changed the overall story, which is that of inflation moving down gradually on a sometimes bumpy road towards 2%. i don't think that story has changed. i also don't think that those readings added to anyone's confidence that we're moving closer to that point. >> so bumpy road, that refers to the two inflation reports that he was referring to at the top where we've just been kind of going sideways between 3 and 4%. got to get close to the 2%. that's when americans might feel a little bit more of that change at the store when they go and buy things. we appreciate you. >>> now to the legal back and forth over a texas immigration law. it's the one that would allow local police to arrest migrants suspected of entering the country illegally. now, arguments on the law were held in federal court, and a lot has happened over the last few days. basically here's the time line. on monday the supreme cou
jay powell saying in a press conference that he feels like the state of inflation still remains largely status quo. take a listen. >> i take the two of them together, and i think they haven't really changed the overall story, which is that of inflation moving down gradually on a sometimes bumpy road towards 2%. i don't think that story has changed. i also don't think that those readings added to anyone's confidence that we're moving closer to that point. >> so bumpy road, that...