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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ECNY: Webcast Virtual Event

Join us in a virtual conversation as the Club is pleased to welcome our Chair at The Economic Club of New York, John C. Williams. As President and CEO of the Federal Reserve Bank of New York, John serves as the Vice Chair and a permanent member of the Federal Open Market Committee. He will address the Club on the U.S. economic outlook.

YAHOO NEWS: Wall Street down sharply on Apple and China fears
Also sounding something of an optimistic note: John Williams, the New York Federal Reserve Bank president.

"I expect real GDP to increase only modestly this year, and in 2023."

Williams told the New York Economic Club that he saw the Fed maintaining it's policy of interest rate hikes to combat inflation, but said he was already seeing signs that the rate hikes were having the desired effect and did not forecast an economic recession.

"It will take some time, but I'm fully confident that we'll return to a sustained period of price stability."

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YAHOO FINANCE: IBM Sees Tech Spending Growth Unless a ‘Catastrophic Recession’ Hits

Unless there’s a “catastrophic recession,” corporate spending on technology should continue to increase, Krishna said Thursday during an event hosted by the Economic Club of New York. “As I talk to CEOs and CIOs across the globe, almost none of them are talking about cutting down technology spending,” Krishna said, adding that one point of caution is whether western Europe goes through a “major energy crisis.”

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ECNY: Signature Luncheon

Diversity, Equity & Inclusion Series

Join us for a Signature Luncheon as we welcome Arvind Krishna, Chairman and Chief Executive Officer of IBM. As a global business leader, leading technologist and ECNY Trustee, Arvind will explore how powerful technologies such as hybrid cloud, artificial intelligence and quantum computing are becoming fundamental sources of competitive advantage and the far-reaching implications this has for businesses in every industry.

ECNY: Anniversary Dinner

Special Anniversary Dinner, Celebrating 115 Years

Program highlight includes a panel discussion with John C. Williams and other former ECNY chairs. Additional Program details include award winners of the 2022 ECNY Innovation Challenge, recognize our Centennial Fund first 100 members, celebrate our 2022 Class of Fellows.

ECNY: Webcast Virtual Event

Diversity, Equity & Inclusion Series

The Club is honored to welcome James Runcie, Co-Founder and CEO, Partnership for Education Advancement as part of our DEI Series. Mr Runcie wil talk about how Ed Advancment partners with HBCUs to increase enrollment, graduation rates, and student outcomes, and advances economic mobility and oprtunities for students.

WALL STREET JOURNAL: Ukraine’s Forces Advance Cautiously on Kherson, Wary of Russia’s Retreat


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THE GUARDIAN: US estimates 200,000 military casualties on all sides in Ukraine war
“You are looking at well over 100,000 Russian soldiers killed and wounded,” Milley said in remarks at the Economic Club of New York. “Same thing probably on the Ukrainian side.”

Asked about prospects for diplomacy in Ukraine, Milley said the early refusal to negotiate in the first world war compounded human suffering and led to millions more casualties. “So when there is an opportunity to negotiate, when peace can be achieved: seize the moment,” Milley said.
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