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Luncheon with Michael Corbat, CEO, Citigroup Inc. - 11/14
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News and Media

Bank of England Governor Mark Carney

New York Times: U.S. Fed Is Raising Rates for Good Reasons, BoE's Carney Says

Bank of England Governor Mark Carney said on Friday he thought the U.S. Federal Reserve was raising interest rates for good reasons, based on the strength of the U.S. economy.

"They're on the path they're on for fundamentally good, positive reasons," Carney said as he answered questions following a speech at the Economic Club of New York.

 

Federal Reserve Vice Chairman for Supervision Randal Quarles

Bloomberg: Fed's Quarles Favors Gradual Hikes, Eye on Potential Growth

Federal Reserve Governor Randal Quarles said he favors gradual interest-rate increases and voiced optimism that the U.S. economy might be able to grow faster without overheating -- potentially meriting a slower hiking path ahead.

In remarks Thursday to the Economic Club of New York, he suggested that a tick up in the economy’s potential growth rate, if realized, could warrant a slower pace of rate hikes than would otherwise be appropriate.

 

IAC Chairman and Senior Executive Barry Diller

GeekWire: Should Google be regulated? Expedia’s Barry Diller says yes, to stop competition with advertisers

Add one more voice to calls for regulation of Google: Barry Diller, chairman and senior executive of Expedia Group.Diller, interviewed by CNBC’s Andrew Ross Sorkin during an event at the Economic Club of New York, was asked how he felt about the large technology companies. Diller, who holds the titles of chairman and senior executive for both Expedia and IAC, immediately responded that Facebook and Google “own, basically, advertising business worldwide.”

Dallas Federal Reserve President and CEO Robert S. Kaplan

Wall Street Journal: Fed's Kaplan Voices Support For Three More Rate Increases
 
Dallas Federal Reserve Bank President Robert Kaplan said Tuesday he supports the U.S. central bank pressing forward "gradually and patiently" with interest-rate increases. 

Mr. Kaplan was speaking at a gathering of the Economic Club of New York. He isn't currently a voting member of the interest-rate setting Federal Open Market Committee. That body met in late September and raised rates for a third time this year, lifting the central bank's short-term interest-rate target rate range to between 2% and 2.25%.

Reuters
Rising yields suggests 'conflicting factors' over U.S. growth: Fed's Kaplan

The recent jump in U.S. bond yields suggests “conflicting factors,” including a proposed new North America trade agreement, is clouding overall uncertainty among investors over future economic growth prospects, Federal Reserve Bank of Dallas President Robert Kaplan said on Tuesday.

U.S. Treasuries have been sold off recently as strong data fueled fears about rising inflation and a potentially faster pace of rate increases by the Fed. “I’m always careful not to over-read or over-attribute certain factors,” Kaplan added after addressing the Economic Club of New York.

 
The bond market is sending a pessimistic signal about the longer-term prospects of the U.S. economy, Dallas Federal Reserve President Robert Kaplan said Tuesday. All eyes on Wall Street have been tuned into the rapid acceleration of the 10-year Treasury yield in recent weeks as a sign that inflation is looming.

However, Kaplan told the Economic Club of New York that there's another important message coming, namely that the flattening of the so-called yield curve that has been taking place over the past several months is an indicator that the market sees growth slowing.

Merck & Co. Chairman and CEO Ken Frazier

Business Insider: The CEO of Merck has an ominous warning for the middlemen who stand between drug makers and patients
 
As Kenneth Frazier sees it, something has to give.

During an hour-long, wide-ranging interview with the Economic Club of New York, Frazier, the CEO of New Jersey-based pharma giant Merck, addressed the issue of rising prescription drug costs and how it's impacting patients.

Director of the National Economic Council Larry Kudlow

Reuters: Trump Economic Adviser Says U.S. Wants Serious Trade Talks With China

The United States is ready to negotiate a trade deal with China whenever Beijing is prepared for serious talks that will reduce tariffs and eliminate non-tariff trade barriers, top White House economic adviser Larry Kudlow said on Monday. Kudlow, speaking at the Economic Club of New York, also said China’s economic reforms were moving in the wrong direction and that he expected the United States would soon announce tariffs on an additional $200 billion worth of Chinese goods.

Rolling StoneRemember When Republicans Called the Deficit ‘Immoral’?
 
When the Congressional Budget Office in April estimated the drastic effect the tax overhaul would have on the deficit, Corker said at a Senate Budget Committee that if “it ends up costing what has been laid out here, it could well be one of the worst votes I’ve made.” Whoops!

But others have chosen to key in on the “wasteful spending” part of Mnuchin’s statement about the inflated deficit as a way of justifying tax reform. Last month, National Economic Council Director Larry Kudlow said that while “people are quick to blame deficits on tax cuts,” he’s not worried. “If you grow rapidly you’re going to have lesser deficits. Growth solves a lot of problems,” he said during a speech at the Economic Club of New York. “The gap is principally spending too much.”

Wall Street Journal
Trump Adviser Kudlow Blames Deficits on Spending, Not Tax Cuts

A top economic adviser to President Trump said Monday the U.S. is ready to engage in serious trade talks with China, in comments that also shrugged off massive U.S. government budget deficits as largely a function of too much government spending and not tax cuts. “The trade system around the world has been broken” and “China is the biggest culprit” for the current troubles, Lawrence Kudlow, head of the White House National Economic Council, told a gathering of the Economic Club of New York.
 

 A top economic adviser to President Donald Trump said on Monday he expects U.S. budget deficits of about 4 percent to 5 percent of the country's economic output for the next one to two years, adding that there would likely be an effort in 2019 to cut spending on entitlement programs. "We have to be tougher on spending," White House economic adviser Larry Kudlow said in remarks to the Economic Club of New York, adding that government spending was the reason for the wider budget deficits, not the Republican-led tax cuts activated this year. Kudlow did not specify where future cuts would be made.
 

Goldman Sachs Chairman and CEO Lloyd Blankfein

Bloomberg (video): Goldman's Blankfein Talks Trade, Credit Markets and Bitcoin 

Lloyd Blankfein, chairman and chief executive officer of Goldman Sachs Group Inc., sits down with Bloomberg Editor-in-Chief John Micklethwait to discuss U.S. trade policy, the state of credit markets and his views on cryptocurrencies. They speak at the Economic Club of New York. (Source: Bloomberg)

Western Union CEO Hikmet Ersek

MarketWatch: Why Western Union’s CEO Doesn’t See Bitcoin a Fast Track to Overtaking Dollars, Euros

Western Union Co. won’t add a cyrptocurrency transfer solution to its arsenal soon, said CEO Hikmet Ersek. Speaking at the Economic Club of New York on Wednesday morning, the head of the money-transfer giant explained that customers firmly favor fiat currency over upstart digital counterparts due to the broad usability of cold, hard assets like cash.

Harvard President Emeritus Larry Summers

Bloomberg: Larry Summers Says His ‘Secular Stagnation’ Thesis Is Catching On

The Harvard economist cites signs that people are buying into the concept, despite what looks like healthy economic growth.

Canadian Prime Minister Justin Trudeau

Reuters: Canada's Trudeau Says Feeling Positive About NAFTA Talks

Canadian Prime Minister Justin Trudeau on Thursday said he felt positive about talks to update the NAFTA trade pact, which U.S. officials say need to be wrapped up very quickly for the current Congress to vote on a final text.

Banque de France Governor Francois Villeroy de Galhau

Reuters UK: Risks Growing That Could Alter ECB's Tightening Plan - Villeroy

The European Central Bank would have to alter its march toward a more normal policy stance if growing risks from protectionism, exchange rates or market swings end up depressing inflation, ECB policymaker Francois Villeroy de Galhau said on Wednesday.

Saudi Arabian Ministers

Al Arabiya: At Economic Club of New York, Saudi Ministers Showcase New Economic Prospects

On the sidelines of the historic visit to the United States by Saudi Arabia’s Crown Prince Mohammad bin Salman, the Economic Club of New York organized a panel discussion on new economic opportunities in the Kingdom.

Investor Peter Thiel

Yahoo! Finance: Peter Thiel: The vast majority of the capital I give companies is just going to landlords

Billionaire venture capitalist and entrepreneur Peter Thiel believes the high cost of living is stifling entrepreneurship in Silicon Valley. “One thing I’ve been thinking about as a venture capitalist in Silicon Valley is the vast majority of the capital I give to the companies is just going to landlords. It’s going to commercial real estate and even more to urban slumlords of one sort or another. And that’s an odd thing to be doing as a venture capitalist. That’s so disproportionate,” Thiel said at an event on Thursday hosted by the Economic Club of New York.

PayPal CEO Dan Schulman

Bloomberg: PayPal CEO Says Cryptocurrencies Are Just an Experiment for Now

Despite the hype, PayPal Holdings Inc. isn’t buying into crypto for now. Speaking at the Economic Club of New York in Manhattan, PayPal Chief Executive Officer Dan Schulman said cryptocurrencies have a very uncertain future. “Regulations need to be sorted out and a whole number of other things,” he said. “It’s an experiment right now that is very unclear which direction it will go.”

MICROSOFT CEO SATYA NADELLA

CNBC: Microsoft CEO Satya Nadella: The Technology Industry Can't Shrug Off Possible Job Losses From A.I.  

Microsoft CEO Satya Nadella at a company conference in 2014.Microsoft CEO Satya Nadella said on Wednesday that technology companies need to accept that their design choices help create both the good and bad of artificial intelligence technology. "I feel like sometimes we in tech, even, abdicate control: '[AI] is going to happen tomorrow and our best case is that we're going to be domesticated cats or whatever.' But no, it's a choice. I'm not making fun of that as a consequence. It could happen, but only if we abdicate," Nadella said.

NFL Commissioner Roger Goodell

Yahoo! Finance: NFL Commissioner: We're focused on adjusting for millennials (video) 

CNBC's Eric Chemi reports on NFL Commissioner Roger Goodell's comments about the league at the Economic Club of New York. 
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