Harriet Torry
speaker
611 appearances
11 recordings
1 series
first heard Sep 2017
last heard Dec 2024
Harriet Torry’s voice in public audio — every appearance, attributed to the second.
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Appearances
They've laid out this plan, these amounts, and they don't want to alter this unless there's a very severe
economic shock or a very severe downturn.
So they're trying to be as meticulous about this as possible.
They've put out all of the caps, the numbers, what will roll off at what time, you know, how it will work.
And they've tried to be very sort of clear about how the whole process will go.
So it's not to spook anyone or not to sort of suddenly jolt markets or anything like that.
Yeah, this was something that the Fed put into its statement, which makes it noteworthy, because the Fed, by and large, from month to month doesn't change its statements very much.
But it did actually, after Katrina in 2005, it put in sort of similar language as it did today,
which was that, yeah, the hurricanes Harvey, Irma and Maria have devastated many communities and that there will be storm related disruptions.
One thing, though, that both the statement said and Yellen pointed out in her press conference is that although the storms have had a very severe effect, particularly on the regions where they hit, they're actually unlikely to materially alter the course of the national economy over the medium term.
So
Yellen did say that September payrolls for the whole country will likely be hit.
There will likely be a noticeable impact from the storms.
And the third quarter, the data will be disrupted by this.
But after a few quarters, rebuilding efforts actually will probably boost growth once they get underway.
So although this was a very devastating shock for the communities that were affected,
the Fed did point out that it shouldn't have a long-term impact on the national economy.
Well, Yellen did talk in her conference about Fischer and said that she was very sad to see him go, that he's been a great colleague to her.
So Fischer is seen as a centrist at the Federal Reserve.
He's
Showing 581–600 of 611 · page 30 of 31
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