Watch Live Yellen Testimony Day 2, And Three Questions She Should Answer. Yesterday, Janet Yellen surprised markets again, when after weeks of a hawkish setup, she suggested that the Fed is not only uncertain about when and how much inflation will respond to tightening resource utilization, warning that the federal funds rate may not have to rise all that much further to get to a neutral policy stance. The market was delighted by this dovish turn, and sent the DJIA to new all time highs, while global stocks hit fresh record highs. Now its time for day two, with Yellen appearing before the Senate Banking Committee. FreeFun/Images/CartoonsMoviesTV/OverTheHedgeWallpaper2800.jpg' alt='Watch Over The Hedge Online Full Movie' title='Watch Over The Hedge Online Full Movie' />How Do I Whitelist Observer Below are steps you can take in order to whitelist Observer. For Adblock Click the AdBlock button on your browser. BMW has famously declared that sports cars are all but dead, but at some point they must have said fuck it to team up with Toyota and bring us a new roadster. Plugged In helps college student standup for his belief Thanks for the great job you do in posting movie and television reviews online. Im a college freshman and. MFAZnZJZgU/hqdefault.jpg' alt='Watch Over The Hedge Online Full Movie' title='Watch Over The Hedge Online Full Movie' />Inside Ben Affleck and Jennifer Garners Family Vacation in the Bahamas, Two Months After Filing for Divorce. While the prepared remarks will be identical, in her speech on Wednesday, Yellen said the U. S. economy should continue to expand over next few years and stressed a gradual approach to tightening as central bank monitors inflation. The attention will be on the Q A. And, to help the Senate along, here are 3 questions that the Senate should ask Yellen, courtesy of Rafiki Capitals Steven Englander. If GDP, unemployment, consumption etc were exactly the same but inflation was stable at 2, would the US be better or worse off Ask 1. Imagine if we had hit 2 inflation when the unemployment rate was 6, would we or the Fed be high fiving because we hit our targetsBelow target inflation is a problem for the Fed in missing its dual mandates but it means that the economy has more room to grow, more jobs to create, more homes to build etc. However, having more room to expand is unambiguously a good thing from the economic viewpoint with the caveat that if we are using the wrong tools and we generate asset market instability, there is a case to the contrary. But that is different than saying the new millennium would be here if there was 2 inflation rather than 1. Are persistently low inflation countries Germany, Japan, Switzerland, Denmark worse off than higher inflation countries over the long run. Persistent low inflation in these countries does not look to be doing a lot of damage. Unemployment is low, none of them are anywhere close to recession, most have current account surpluses, GDP per capita is doing no worse than anywhere else. The zero bound is a problem if we fall into a deep recession, but there seemed to be some resilience in these economies to shocks as well. There is a strong case that the zero bound is an issue and that negative rates and QE do not work as well as advertised, but that suggests that low inflation countries must be ready to use fiscal policy near the zero bound when a demand shock hits not clear you need it if there is a supply shock. The cult of 2 inflation has a lot of adherents, but it is unclear that the number is as canonical as made out to be, or the implications of missing it as bad. Is low inflation that comes from supply shocks as big a threat as low inflation that comes from demand shocks You can undershoot inflation because supply shocks are pushing inflation down and you can undershoot on inflation because demand is going down the tubes. Empirically there is a difference. Demand shocks that lead to recession tend to be acute. The run up in unemployment, drop in GDP and downward pressure on prices are concentrated and intense. Supply side shocks can also put downward pressure on inflation, but they dont necessarily raise unemployment, they almost certainly increase GDP and the price move is much more gradual. Watch Warm Summer Rain Tube Free. The question is whether the economic consequences of such shocks are the  same and whether the same macroeconomic response is appropriate. As Englander says, these are not meant to be gotcha questions. Right now, it seems to be that technological progress is capital saving, and quite possibly is eroding the rents earned by some skilled labor. There also seem to be large economies of scale to growth driven by IT innovation. The implications of low inflation in a world where supply side shocks dominated may be very different than the implications of low inflation in the world I grew up in where low inflation meant big demand shocks or policy tightening had hit and policymakers had to figure out to what degree to offset or accommodate such shocks or restimulate. Finally, we wonder if there will be another bitcoin moment Live feed below. Gay fund manager sues over homophobic campaign at work. Tribunal Paul Newton, 4. Balyasny Europe Asset Management. A gay hedge fund manager who claims his homophobic colleagues called him a proper fairy, an uppity little ft and a ck jockey has started a 1million tribunal battle. Paul Newton, 4. Balyasny Europe Asset Management following an unrelenting 1. Mr Newton says traders said he looked like a lesbian minister and acted like an uptight poofter who would come on to every male visitor to the office, which he compared to a US university frat house. His colleagues also spread rumours that he would would go cottaging, cruising and use Grindr to meet other men for sex while his partner was away, he claims. Mr Newton, who is seeking more than 1million compensation from the international firm, also claims he was subjected to limp wristed hand gestures, jibes about his long hair, and that he was regularly called camp. He claims his colleagues at the multi million pound hedge fund, which has offices in St James, central London, Joked about the size of his genitals, spreading rumours that he was having sex with the office cleaner, and referring to him openly as a very camp gay man. He said he also complained to colleagues that the office was more like a frat house than a professional environment and quite unlike anything I had ever experienced in my career. Mr Newton said of his colleagues They would throw rugby balls around in the office, even at times of market volatility, and when I objected to this unprofessional behaviour, I was at best ignored, sometimes called names for example uptight poofter. He added They would also regularly go into the kitchen next to my office to get snacks and say nasty things about me, such as I go cottaging, cruising or use the dating app Grindr when my partner is away. I am pretty sure they didnt realise that the walls are made of paper such that I could hear their conversations. They would often twist my words to imply smutty homosexual double entendre, about which I complained repeatedly to their faces. Claims Mr Newton  said colleagues at the multimillion pound hedge fund company pictured openly described him as a very camp gay man and added they treated him like a curiosityMr Newton continued The systems manager with whom I had extremely cordial relations, announced that the systems team had a joke with systems people in a US office about me splitting him in two I was utterly horrified that my sexuality was now the subject of humour between offices with people whom I had never even met. Fund manager Im not trying to extort them Paul Newton has denied he is trying to extort his former employer, a tribunal heard today. Today under cross examination James Laddie QC, representing Balyasny, pointed out that Mr Newton had lost 1. He put to the claimant he was trying to extort his former employer out of money, which Mr Newton denied. Central London Employment Tribunal was taken to the transcript of a phone call between Mr Newton and the head of HR after he was fired from the company in June 2. Watch Damsels In Distress Online Idigitaltimes. In the phone call he mentioned he had been seeking legal advice about possible action against the firm. Asked how long he had been seeking legal advice Mr Newton said About a month before I saw a solicitor a friend had recommended to me. Mr Laddie said So you thought the writing was on the wallThe claimant said Absolutely. I saw people being interviewed for my job. Clearly it was obviously decided from that point I was likely to be replaced. Mr Laddie pointed out during the phone call Mr Newton made threats to talk to the media about his alleged abuse and said the company would have to sign a big cheque. The claimant said I was trying to get the firm to change its ways. I had complained about what was happening. I had reported the situation and no changes had been made. It was a threat, but I was trying to get them to change their ways. Mr Laddie said I think you were interested in money and the lever you were pulling at was the threat of going public. Mr Newton said Money is the only language these people understand. But he told the tribunal I have never acted in an ostentatious or extravagant effeminate manner. I have never intentionally drawn attention to my sexuality in a way often associated with the gay community at all. Mr Newton detailed some of the alleged homophobic abuse he received in the office from several colleagues. Describing one incident in his witness statement he said I was walking past a colleagues desk and he shouted cock jockey behind me. I turned round to him and glared at him. This work colleague later came to my office to apologise but I wasnt having any of it. I told him I was sick of his homophobic behaviour. He replied that he was not homophobic and could prove it because he had a transvestite or transsexual housekeeper. I told him to go away in fairly strong terms. Mr Newton, who has 2. City, was fired last June. He claimed no reason was given at the time but six weeks later the firm blamed poor performance and losses he suffered in the aftermath of the Brexit referendum vote. Yet, he claims, other straight, male managers who lost more money kept their jobs. He is now suing his former employers for unfair dismissal, arguing his sacking was actually the culmination of a campaign of homophobic abuse that started almost as soon as he joined in March 2. Mr Newton, who lives in a Thameside apartment near Tower Bridge, say he has decided to change careers since his departure from the firm, and hopes to work as a barrister in the future. But the firm is fighting his claims, saying they are without merit, and insists it is well known in the industry for having a collaborative, collegial culture. The qualified Chartered Accountant and Chartered Tax Advisor Mr Newton claims he was subjected to unrelenting abuse based on his sexual orientation by his colleagues, within an environment suffused with homophobia. He says he was forced to work in an intimidating, hostile, degrading, humiliating or offensive environment for individuals with his sexual orientation, and argues the culmination of more than two years of hostility was his sacking, without warning and with just two weeks severance pay. The tribunal also heard Mr Newton felt he was discriminated against when he first joined the company because he was made to sit among other staff on the trading floor instead of getting his own office. He said I complained that I couldnt do the job. In just over a week of his employment he was given an office with a full length mirror, by the firm, to look smart for meetings. He said It was not furnished to my design. It was a mirror on the wall instead of a picture on the wall. He is seeking an admission by the hedge fund that he was harassed and discriminated against, an acceptance that he was unlawfully dismissed, and damages for the effects of his alleged treatment. Mr Newton says in the witness statement that he has been diagnosed as suffering from anxiety and depression since his dismissal. Balyasny Asset Management, said in a statement it is committed, by policy and ethical commitment, to a workforce free from harassment. We take seriously any allegations of a hostile work environment and believe these allegations are without merit., it added. The hearing, at Central London Employment Tribunals, continues.