BUSINESS OF FASHION:  L’Oréal Eyes Tech Talent, Puts Sustainability at the Fore

Beauty’s biggest player is leaning into artificial intelligence and placing a deeper focus on how its goods are made.

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ECNY: Signature Luncheon

Join the Director of the Cybersecurity and Infrastructure Security Agency (CISA), Jen Easterly for a lively discussion on how CISA is helping reduce risk to cyber and physical infrastructure to protect organizations from financial loss, disruption, or reputational damage – and why corporate cyber responsibility is more important then ever.

BLOOMBERG: L’Oréal CEO Says Consumers Are Spending More on Better Products

Global consumers are spending more on higher-end products as the post-pandemic “premiumization” of the beauty category gathers momentum, L’Oréal SA’s chief executive officer told a gathering in New York.

“All around the world, people are spending more on better products,” CEO Nicolas Hieronimus told the Economic Club of New York on Wednesday. “Beauty is this category that is both a need but also an indulgence.”
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WWD:  L’Oréal CEO Nicolas Hieronimus on Agility, the Economy and Digital Transformation


At a luncheon hosted by the Economic Club of New York, Hieronimus talked L'Oréal's key strengths and beauty's next frontiers.

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ECNY: Signature Luncheon

A discussion on the evolution of the global beauty market and leading during economic uncertainty with Chief Executive Officer, L'Oréal CEO Nicolas Hieronimus. Moderated by Marie-Josée Kravis, MoMA Chair.

ECNY: Webcast Virtual Event

Video Webinar with Dr. Richard Thaler, profesor at the University of Chcago.

ECNY: Signature Luncheon

Join us for a discussion featuring Ursula Burns, the first black woman to lead a Fortune 500 company. A trailblazer in the community education and non-profit sectors, and a highly regarded corporate board director.

ECNY: Webcast Virtual Event

Join us at the live webinar expert panel with William Dudley and Glenn Hubbard, discussing the U.S. economic outlook, inflation, interest rate and other monetary policy matters including sovereign debt.

ECNY: Webcast Virtual Event

Diversity, Equity & Inclusion Series

How Brandon Copeland, former NFL linebacker and star of Netflix's Buy My House is using his platform to inspire, educate, and financially empower others.

ECNY: Webcast Virtual Event

Join us as we welcome Club Members Jason Trennert, Chair and CEO, Strategas and Julia La Roche, Host of the Julia La Roche Show as they discuss an overview of the markets and 2023 economic outlook.

ECNY: Signature Dinner

Join us for a Closing Year-End Signature Dinner as we welcome The Honorable Joe Manchin, United States Senator of West Virginia. He will share insights on his efforts to work across party lines, including on infrastructure and economic policies.

ECNY: Webcast Virtual Event

Diversity, Equity & Inclusion Series

We are honored to welcome Sukhinder Singh Cassidy. Sukhinder will join us to shed light on the work her company is doing to aid in creating true diverse representation in organizational leadership.

ECNY: Signature Luncheon

We are honored to welcome Club Trustee and CNBC's Becky Quick to our Signature Luncheon with special guest Michael Wirth, Chair and CEO, Chevron Corporation. They will discuss the state of the energy industry and achieving a lower carbon energy future.

BLOOMBERG: US Seeks Halt to Oil-Reserve Sales to Refill Depleted Stockpiles

The Biden administration is seeking to stop sales from the Strategic Petroleum Reserve mandated by Congress so it can refill the emergency reserve, a move that could impact the release of 147 million barrels of crude oil.

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NASDAQ: Chevron CEO predicts gradual relaxation of U.S. sanctions on Venezuela

The U.S. approval for Chevron Corp CVX.N to expand Venezuela's oil production is unlikely to lead the company to add investment in the South American country in the next six months, Chief Executive Michael Wirth said.  Washington could gradually relax sanctions on Venezuela and provide greater latitude for Chevron to operate in Venezuela over time, Wirth said in comments to the Economic Club of New York on Thursday.

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FINANCIAL TIMES: Top Fed official warns US unemployment could hit 5% next year

 

ASSOCIATED PRESS: 2 Fed officials favor keeping key rate at peak through 2023
John Williams, president of the Federal Reserve Bank of New York, who is among a core group of officials around Chair Jerome Powell, said in a speech to the Economic Club of New York that the central bank has “more work to do” to reduce inflation closer to its 2% target.


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REUTERS: Fed could lower interest rates in 2024, Williams says
New York Federal Reserve President John Williams on Monday said the U.S. central bank needs to press forward with rate rises but did not say how fast and how far it will need to boost short-term borrowing costs, even as he reckons a rate cut is possible in 2024 as inflation pressures likely ease.

"I do think we're going to need to keep restrictive policy in place for some time; I would expect that to continue through at least next year," Williams said at a virtual event held by the Economic Club of New York, noting that borrowing costs need to rise to bring down overly high levels of inflation. "I do see a point probably in 2024 that we'll start bringing down nominal interest rates because inflation is coming down."

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BLOOMBERG: Fed Officials Say More Rate Hikes Coming; Williams Flags Path to Cuts
Federal Reserve policymakers stressed on Monday that they will raise borrowing costs further to curb inflation, with one key official saying that he sees interest rates heading somewhat higher than he had forecast just a couple of months ago.

“Stronger demand for labor, stronger demand in the economy than I previously thought, and then somewhat higher underlying inflation, suggest a modestly higher path for policy relative to September,” New York Fed President John Williams told reporters Monday after an event hosted by the Economic Club of New York. “Not a massive change, but somewhat higher.”


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CNBC: 10-year Treasury yield rises as investors assess impact of China’s Covid policy
China on Tuesday said it was making progress with vaccinating its elderly against Covid and reported that cases had declined for the first time in over a week on Monday.

Traders also digested comments from Fed speakers about future interest rate policy, as concerns about a looming recession continue.

Speaking at a virtual event hosted by the Economic Club of New York on Monday, New York Fed president John Williams said the central bank had to continue hiking rates for now. Rate cuts could be an option for 2024, he added.

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