Also in this playlist...
This transcript is automatically generated
Okay call -- Christmas in July for economists and fed watchers with a pair better than expected economic reports ahead of the Fed statement this morning.
Do of course at the top of the hour so will the data affect the -- timeline on tapering knowing that an -- and Phillips waigel a professor University of Maryland and a former insider Treasury Department.
And Federal Reserve -- have you back -- up.
What's the likelihood the top of the hour we get the decision on interest as we know what it will ultimately say keeping rates these ridiculously low levels on going but.
On the question of the asset purchases that Bernanke and company will just come out and say -- planned to.
The number and the value of our asset purchases annual commence in September October.
Very little right.
You know -- -- -- I still leads to -- for the Fed to do that -- these data are are good.
Both on the GDP side and the eighty.
Friday's number on jobs in and then at least another month or two before they start the taper so they will recognize the better data.
But say -- we're still looking for this to to continue.
Better data but let's really dig into that because even though the first print on the second quarter GDP came in much better than expected the downward revision of the final take up the first quarter was a huge disappointment.
Howard let it was on our program talking with my colleague Adam at the top of the hour -- we don't have an economy do you agree with how we characterize it.
He had a -- growth -- job creation but the moderate and -- really not at a satisfactory pace.
And I wouldn't go as far as.
As that but I agree is just not satisfactory and missile pace of GDP growth.
Is not strong message to drive the job creation -- the Fed really wants to see before they they start pulling away from QE.
So the fact is.
This economy as lackluster as it is still would you agree that if you pulled out that -- week.
At any time -- -- economy just crater so having said that and when is the right time to start backing off the stimulus.
Yeah -- -- that's one of the dangers of what the Fed has done is that they he made some markets are really dependent on QE.
And they have to Bakley gingerly and we seen that in the difficulties of is is is that the Communists of the communications.
I think they're gonna do it right as the economy continues to strengthen.
They will that play from QE.
But they would do it slowly and they will wait as I said until the job creation is really solid and assure that it's if sustained.
We know that they put a target bright round six and a half seven and a half percent unemployment.
But what other factors what other drivers of the economy would you like to see get a shot -- -- do you think they will in the next year so.
Yeah -- I'd really like to see both.
Consumers and business spending coming in.
It's always on today's GDP data -- business investment was actually pretty reasonable and especially in structures and and my guess is a lot of that is oil country pipeline.
Construction of pipelines and we know the President Obama can make an even stronger if -- just approves the the keystone XL.
I lake -- consumer spending coming at the same time so easy confidence on both businesses.
In consumers in and really in a -- recovery and not just Apache one that we've had so far.
Well the economy benefit from up corporate tax reform like the president's proposing.
-- -- I don't call -- the president's proposing reform.
-- feels like a tax increase to me.
It's actually is really important I think -- Connie would benefit.
In the near term you know it's it's hard to see it happening but I'm glad the president -- talking about it.
But details matter and his aren't so good at -- -- cycles through with the Fed does top the -- thanks so much for joining us.
Filter by section