Powell shouldn’t follow Greenspan’s example at Fed, veteran economist says

Federal Reserve Chairman Jay Powell would be wrong to copy the playbook of his predecessor Alan Greenspan, according to a Yale lecturer and former Morgan Stanley executive. In the 1990s, then Fed-chair Greenspan took a watch-and-wait policy, keeping rates low to see if inflation would materialize in the face of a growing economy. At the Federal Reserve’s annual retreat to Jackson Hole, Wyoming, in August, Powell praised Greenspan’s do-nothing stance as sound risk management. But Stephen Roach, a


Federal Reserve Chairman Jay Powell would be wrong to copy the playbook of his predecessor Alan Greenspan, according to a Yale lecturer and former Morgan Stanley executive. In the 1990s, then Fed-chair Greenspan took a watch-and-wait policy, keeping rates low to see if inflation would materialize in the face of a growing economy. At the Federal Reserve’s annual retreat to Jackson Hole, Wyoming, in August, Powell praised Greenspan’s do-nothing stance as sound risk management. But Stephen Roach, a
Powell shouldn’t follow Greenspan’s example at Fed, veteran economist says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: david reid, adam jeffery, john duricka
Keywords: news, cnbc, companies, economist, fed, greenspan, veteran, bubbles, follow, powell, shouldnt, stanley, greenspans, example, yale, morgan, chairman, jay, federal


Powell shouldn't follow Greenspan's example at Fed, veteran economist says

Federal Reserve Chairman Jay Powell would be wrong to copy the playbook of his predecessor Alan Greenspan, according to a Yale lecturer and former Morgan Stanley executive.

Powell has been criticized by some market players, as well as by Donald Trump, who believe the central banker risks triggering a U.S. economic contraction by enforcing multiple rate rises next year.

In the 1990s, then Fed-chair Greenspan took a watch-and-wait policy, keeping rates low to see if inflation would materialize in the face of a growing economy. At the Federal Reserve’s annual retreat to Jackson Hole, Wyoming, in August, Powell praised Greenspan’s do-nothing stance as sound risk management.

But Stephen Roach, a senior fellow at Yale University and former chairman of Morgan Stanley Asia, told CNBC’s “Squawk Box Europe” on Friday that Powell would do well to learn from Greenspan’s mistakes.

“The Greenspan ‘put’ supported markets a lot, but he also gave us lots of bubbles and crises that were spawned by those bubbles which I think history does not treat kindly at all,” he said.

The veteran economist added that it was not “such a bad thing that Jay Powell is not a clone of Alan Greenspan.”


Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: david reid, adam jeffery, john duricka
Keywords: news, cnbc, companies, economist, fed, greenspan, veteran, bubbles, follow, powell, shouldnt, stanley, greenspans, example, yale, morgan, chairman, jay, federal


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Trump attacks Fed Chairman Powell: ‘I’m not even a little bit happy with my selection of Jay’

President Donald Trump told The Washington Post on Tuesday that he’s “not even a little bit happy” with his appointment Jerome Powell as chair of the Federal Reserve. Trump told the Post, “So far, I’m not even a little bit happy with my selection of Jay,” who he appointed earlier this year. The president told the newspaper that he thinks the U.S. central bank is “way off-base with what they’re doing.” “I’m doing deals and I’m not being accommodated by the Fed,” Trump told the Post. The president


President Donald Trump told The Washington Post on Tuesday that he’s “not even a little bit happy” with his appointment Jerome Powell as chair of the Federal Reserve. Trump told the Post, “So far, I’m not even a little bit happy with my selection of Jay,” who he appointed earlier this year. The president told the newspaper that he thinks the U.S. central bank is “way off-base with what they’re doing.” “I’m doing deals and I’m not being accommodated by the Fed,” Trump told the Post. The president
Trump attacks Fed Chairman Powell: ‘I’m not even a little bit happy with my selection of Jay’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-27  Authors: christine wang, alex wong, getty images
Keywords: news, cnbc, companies, president, chairman, hes, reserve, fed, little, happy, market, post, bit, jay, im, federal, rate, selection, trump, powell, told


Trump attacks Fed Chairman Powell: 'I'm not even a little bit happy with my selection of Jay'

President Donald Trump told The Washington Post on Tuesday that he’s “not even a little bit happy” with his appointment Jerome Powell as chair of the Federal Reserve.

Trump told the Post, “So far, I’m not even a little bit happy with my selection of Jay,” who he appointed earlier this year. The president told the newspaper that he thinks the U.S. central bank is “way off-base with what they’re doing.”

The Federal Reserve has been raising interest rates as the U.S. economy picks up, but the Post reported that Trump argued these rate hikes were hurting the U.S. economy. The Post also said he blamed the Fed for the recent stock market sell-off and General Motors’ plans to close plants and cut more than 14,000 jobs.

“I’m doing deals and I’m not being accommodated by the Fed,” Trump told the Post. “They’re making a mistake because I have a gut and my gut tells me more sometimes than anybody else’s brain can ever tell me.”

The president has previously criticized the Federal Reserve, saying they should do “what’s good for the country.” He’s also said he’s “not thrilled” with Powell for continuing to raise interest rates.

Although Powell has become a repeated target of Trump’s ire, it is historically unusual for presidents to openly criticize the head of the Federal Reserve. His comments have drawn concern from those who have interpreted the president’s remarks as threats to the central bank’s independence.

Trump’s comments to the Post come a day before Powell’s highly anticipated comments at the Economic Club of New York on Wednesday. The Fed chair is unlikely to signal any significant changes to the central bank’s existing rate hike projections. The market generally expects the Federal Open Market Committee to raise its benchmark interest rate in its December meeting.

Read the full report in The Washington Post.

WATCH: Trump dismisses report he’s displeased with Mnuchin


Company: cnbc, Activity: cnbc, Date: 2018-11-27  Authors: christine wang, alex wong, getty images
Keywords: news, cnbc, companies, president, chairman, hes, reserve, fed, little, happy, market, post, bit, jay, im, federal, rate, selection, trump, powell, told


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Google, Accel and Jay Z invest in life insurance start-up Ethos, valuing it at more than $100 million

Ethos, a start-up that says it can process life insurance applications in a matter of minutes, has raised $35 million in a funding round led by Accel and backed by Google’s venture capital arm. The latest investment raises the San Francisco-based company’s total funding to over $46 million, and CNBC understands the firm is now valued at more than $100 million. Existing investors Sequoia Capital and Arrive, the venture fund of U.S. rapper Jay Z’s entertainment firm Roc Nation, also participated i


Ethos, a start-up that says it can process life insurance applications in a matter of minutes, has raised $35 million in a funding round led by Accel and backed by Google’s venture capital arm. The latest investment raises the San Francisco-based company’s total funding to over $46 million, and CNBC understands the firm is now valued at more than $100 million. Existing investors Sequoia Capital and Arrive, the venture fund of U.S. rapper Jay Z’s entertainment firm Roc Nation, also participated i
Google, Accel and Jay Z invest in life insurance start-up Ethos, valuing it at more than $100 million Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-30  Authors: ryan browne
Keywords: news, cnbc, companies, valuing, google, ethos, million, startup, venture, funding, niparko, round, life, invest, jay, technology, thats, firm, process, insurance


Google, Accel and Jay Z invest in life insurance start-up Ethos, valuing it at more than $100 million

Ethos, a start-up that says it can process life insurance applications in a matter of minutes, has raised $35 million in a funding round led by Accel and backed by Google’s venture capital arm.

The latest investment raises the San Francisco-based company’s total funding to over $46 million, and CNBC understands the firm is now valued at more than $100 million.

The deal, which marks Ethos’ second major round of investment, sees Accel Partner Nate Niparko join the firm’s board of directors, while Google Ventures General Partner Tyson Clark will act as an advisor to the board.

Existing investors Sequoia Capital and Arrive, the venture fund of U.S. rapper Jay Z’s entertainment firm Roc Nation, also participated in the funding round.

“The insurance sector is a $1 trillion industry that is still largely dependent on pen and paper, pushy salespeople, doctor office visits, and legacy systems, which is why we believe there is a tremendous opportunity to simplify the process through technology — and that’s exactly what Ethos has built,” Accel’s Niparko told CNBC in an email.

He highlighted other bets the firm has made on insurance technology start-ups like Shift Technology, which uses artificial intelligence to detect fraudulent insurance claims, and The Zebra, a car insurance marketplace.

“We believe that Ethos is the first player in the life insurance space that’s truly poised to make a difference in how Americans purchase and interact with their insurance provider,” Niparko added.


Company: cnbc, Activity: cnbc, Date: 2018-10-30  Authors: ryan browne
Keywords: news, cnbc, companies, valuing, google, ethos, million, startup, venture, funding, niparko, round, life, invest, jay, technology, thats, firm, process, insurance


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‘I would not associate Jay Powell with craziness,’ says IMF’s Christine Lagarde

International Monetary Fund managing director Christine Lagarde said Thursday she “would not associate” U.S. Federal Reserve Chairman Jerome Powell “with craziness.” “I would not associate Jay Powell with craziness. Lagarde made the comment in response to a question from CNBC’s Geoff Cutmore about U.S. President Donald Trump. I think the Fed has gone crazy,” the president said after walking off Air Force One in Erie, Pennsylvania for a rally. Lagarde added: “All over the world, it is certainly a


International Monetary Fund managing director Christine Lagarde said Thursday she “would not associate” U.S. Federal Reserve Chairman Jerome Powell “with craziness.” “I would not associate Jay Powell with craziness. Lagarde made the comment in response to a question from CNBC’s Geoff Cutmore about U.S. President Donald Trump. I think the Fed has gone crazy,” the president said after walking off Air Force One in Erie, Pennsylvania for a rally. Lagarde added: “All over the world, it is certainly a
‘I would not associate Jay Powell with craziness,’ says IMF’s Christine Lagarde Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: weizhen tan, ted kemp, kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, walking, christine, jay, associate, president, bank, fed, imfs, craziness, certainly, central, powell, think, world, lagarde


'I would not associate Jay Powell with craziness,' says IMF's Christine Lagarde

International Monetary Fund managing director Christine Lagarde said Thursday she “would not associate” U.S. Federal Reserve Chairman Jerome Powell “with craziness.”

“I would not associate Jay Powell with craziness. No, no, he comes across, and members of his board, as extremely serious, solid and certainly keen to base their decisions on actual information, and decide to communicate that properly,” she said, speaking to CNBC at the IMF and World Bank annual meetings in Bali, Indonesia.

Lagarde made the comment in response to a question from CNBC’s Geoff Cutmore about U.S. President Donald Trump. The American leader knocked the Fed on Wednesday for continuing to raise interest rates despite some recent market turbulence.

“I think the Fed is making a mistake. They are so tight. I think the Fed has gone crazy,” the president said after walking off Air Force One in Erie, Pennsylvania for a rally.

Lagarde added: “All over the world, it is certainly a good principle to have independence of the central banks and of the central bank governors. Certainly we have advocated that in all countries, and I think that the Fed is no exception.”


Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: weizhen tan, ted kemp, kazuhiro nogi, afp, getty images
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Why Duplass brothers do ‘therapy talk’ together

Mark and Jay Duplass are brothers. Their long career has recently been crowned with an Emmy win for the Netflix documentary series “Wild Wild Country,” which the brothers co-produced. Living and working well together “is extremely complicated,” Mark tells CNBC Make It in Los Angeles in May. “So we have to stay in constant communication with each other about how we’re feeling, how the other one is feeling. We just do a lot of therapy talk.”


Mark and Jay Duplass are brothers. Their long career has recently been crowned with an Emmy win for the Netflix documentary series “Wild Wild Country,” which the brothers co-produced. Living and working well together “is extremely complicated,” Mark tells CNBC Make It in Los Angeles in May. “So we have to stay in constant communication with each other about how we’re feeling, how the other one is feeling. We just do a lot of therapy talk.”
Why Duplass brothers do ‘therapy talk’ together Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-01  Authors: catherine clifford
Keywords: news, cnbc, companies, duplass, movies, therapy, relationship, working, wild, career, brothers, talk, mark, feeling, jay, lot


Why Duplass brothers do 'therapy talk' together

Mark and Jay Duplass are brothers. And best friends. And they produce movies together.

That’s a lot to expect from any relationship. And perhaps the relationship is even more remarkable for its longevity.

Mark, 41, and Jay, 45 started their movie-making career together when they were just kids playing with their dad’s video camera in the ’80s. Their long career has recently been crowned with an Emmy win for the Netflix documentary series “Wild Wild Country,” which the brothers co-produced.

One secret to the longevity of their career together is their commitment to each other’s emotional well being.

Living and working well together “is extremely complicated,” Mark tells CNBC Make It in Los Angeles in May. “So we have to stay in constant communication with each other about how we’re feeling, how the other one is feeling. We have to be very respectful of each other. Honestly, we don’t argue. We just do a lot of therapy talk.”

The relationship takes just as much time and care as creating movies and television shows do.


Company: cnbc, Activity: cnbc, Date: 2018-10-01  Authors: catherine clifford
Keywords: news, cnbc, companies, duplass, movies, therapy, relationship, working, wild, career, brothers, talk, mark, feeling, jay, lot


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Not all sports cars are expensive: Jay Leno shows off one that only costs $6,500

Some sports cars, such as the 2017 Lamborghini Aventador S, have price tags of more than $500,000. But, as Jay Leno puts it on the latest episode CNBC’s “Jay Leno’s Garage,” there’s also a way to have unlimited fun with limited funds. “We all know sports cars are expensive, but there are some low cost options as well,” he says. This first generation supercharged Japanese sports car is equipped with a 112 horsepower four cylinder engine, a “T-top” roof and pop up headlights. And it only costs $6,


Some sports cars, such as the 2017 Lamborghini Aventador S, have price tags of more than $500,000. But, as Jay Leno puts it on the latest episode CNBC’s “Jay Leno’s Garage,” there’s also a way to have unlimited fun with limited funds. “We all know sports cars are expensive, but there are some low cost options as well,” he says. This first generation supercharged Japanese sports car is equipped with a 112 horsepower four cylinder engine, a “T-top” roof and pop up headlights. And it only costs $6,
Not all sports cars are expensive: Jay Leno shows off one that only costs $6,500 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-13  Authors: yoni blumberg, jay lenos garage
Keywords: news, cnbc, companies, unlimited, cars, way, 6500, ttop, toyota, shows, costs, tags, saysconsider, jay, expensive, supercharged, leno, theres


Not all sports cars are expensive: Jay Leno shows off one that only costs $6,500

Some sports cars, such as the 2017 Lamborghini Aventador S, have price tags of more than $500,000. But, as Jay Leno puts it on the latest episode CNBC’s “Jay Leno’s Garage,” there’s also a way to have unlimited fun with limited funds.

“We all know sports cars are expensive, but there are some low cost options as well,” he says.

Consider the 1988 Toyota MR2. This first generation supercharged Japanese sports car is equipped with a 112 horsepower four cylinder engine, a “T-top” roof and pop up headlights.

And it only costs $6,500.


Company: cnbc, Activity: cnbc, Date: 2018-09-13  Authors: yoni blumberg, jay lenos garage
Keywords: news, cnbc, companies, unlimited, cars, way, 6500, ttop, toyota, shows, costs, tags, saysconsider, jay, expensive, supercharged, leno, theres


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Jay Leno: Use this simple strategy to stay out of debt

That way, if it ends tomorrow, I know what I’ve got,” says Leno, who now hosts CNBC’s “Jay Leno’s Garage.” The good news is, if you stick to a few basic guidelines, you can easily use one without going into debt. But if you find yourself not making payments in full, or if you have already racked up credit card debt, Leno’s cash-only solution may work for you. CNBC’s ” Jay Leno’s Garage ” airs Thursdays at 10 p.m. Don’t miss: How Jay Leno went from earning minimum wage at McDonald’s to making mil


That way, if it ends tomorrow, I know what I’ve got,” says Leno, who now hosts CNBC’s “Jay Leno’s Garage.” The good news is, if you stick to a few basic guidelines, you can easily use one without going into debt. But if you find yourself not making payments in full, or if you have already racked up credit card debt, Leno’s cash-only solution may work for you. CNBC’s ” Jay Leno’s Garage ” airs Thursdays at 10 p.m. Don’t miss: How Jay Leno went from earning minimum wage at McDonald’s to making mil
Jay Leno: Use this simple strategy to stay out of debt Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-06  Authors: kathleen elkins, nbc, getty images
Keywords: news, cnbc, companies, simple, leno, jay, debt, started, work, credit, stay, lenos, youre, strategy, making, tonight, way


Jay Leno: Use this simple strategy to stay out of debt

He started hosting “The Tonight Show” in 1992 at age 42, a job that reportedly earned him as much as $30 million a year. But even today, he prefers not to pay for anything in installments, he tells CNBC Make It: “When you own something and you don’t have to write checks every month, you’re just better off.”

This conservative philosophy gives him financial peace of mind. “I own everything. I own my buildings. I own my cars. That way, if it ends tomorrow, I know what I’ve got,” says Leno, who now hosts CNBC’s “Jay Leno’s Garage.” “It’s a little old fashioned, I suppose, but it seems to work pretty well for me.”

When you’re getting started as an independent adult, it’s important to establish good credit — that will allow you to make larger purchases in the future, such as a car or a home — and one way to do so is by opening a credit card. The good news is, if you stick to a few basic guidelines, you can easily use one without going into debt.

But if you find yourself not making payments in full, or if you have already racked up credit card debt, Leno’s cash-only solution may work for you.

CNBC’s ” Jay Leno’s Garage ” airs Thursdays at 10 p.m. ET.

Don’t miss: How Jay Leno went from earning minimum wage at McDonald’s to making millions hosting ‘The Tonight Show’

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Company: cnbc, Activity: cnbc, Date: 2018-09-06  Authors: kathleen elkins, nbc, getty images
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Jay Leno: The ignition key will be gone in 20 years and cars will drive themselves

And eventually, self-driving cars will become the norm. “It’s not like all of a sudden people flip over to self driving cars,” he notes. Well, all these things eventually become — well, they just get adapted to cars and you sort of move on.” With change comes pushback, he says, but that is consistent across all industries: “I can remember when Barney Clark, who was the world’s oldest living heart transplant, got a heart transplant. Don’t miss: Jay Leno shares his favorite way to spend money—and


And eventually, self-driving cars will become the norm. “It’s not like all of a sudden people flip over to self driving cars,” he notes. Well, all these things eventually become — well, they just get adapted to cars and you sort of move on.” With change comes pushback, he says, but that is consistent across all industries: “I can remember when Barney Clark, who was the world’s oldest living heart transplant, got a heart transplant. Don’t miss: Jay Leno shares his favorite way to spend money—and
Jay Leno: The ignition key will be gone in 20 years and cars will drive themselves Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-08-30  Authors: kathleen elkins, source
Keywords: news, cnbc, companies, thing, recreational, heart, sort, steering, 20, cars, gone, eventually, transplant, ignition, key, leno, drive, way, jay, car


Jay Leno: The ignition key will be gone in 20 years and cars will drive themselves

And eventually, self-driving cars will become the norm. “It’s not like all of a sudden people flip over to self driving cars,” he notes. “But it’s the same thing that happened when anti-lock brakes came out: People said, ‘I don’t want some computer doing the braking in my car. I want to step on my car.’ Or power steering: ‘I like to feel the road. I’m not going to get power steering.’ Well, all these things eventually become — well, they just get adapted to cars and you sort of move on.”

In general, “you will do less and less in your car,” says Leno.

He also predicts that any sort of “exotic car,” like a Ferrari, Lamborghini or Maserati, “will become like snowmobiles or what any recreational vehicle is today. During the week, you use some sort of electric, hybrid thing to get you around because it’s so crowded you can’t go fast anyway. Then, on the weekends, you enjoy your sports car, the way people would any other recreational vehicle.”

With change comes pushback, he says, but that is consistent across all industries: “I can remember when Barney Clark, who was the world’s oldest living heart transplant, got a heart transplant. People were protesting: ‘You’re taking the heart from one man and putting it in another. It’s the work of the devil. It’s a horrible thing.’ Now heart transplants are as common as any other kind of medical procedure. So I think it just takes a while, but eventually it becomes evolutionary.”

CNBC’s ” Jay Leno’s Garage ” airs Thursdays at 10 p.m. ET.

Don’t miss: Jay Leno shares his favorite way to spend money—and it’s not on flashy cars or homes

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Company: cnbc, Activity: cnbc, Date: 2018-08-30  Authors: kathleen elkins, source
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Jay Leno shares his favorite way to spend money—and it’s not on flashy cars or homes

Jay gets the big meatball because he paid for the roof!’ And then you get the big meatball and you get to sit at the head of the table,” said Leno. Leno, who hosted “The Tonight Show” for 22 years and now hosts CNBC’s “Jay Leno’s Garage,” said he never set out to become a multi-millionaire: “I enjoy working more than I enjoy making money. “So many people get to be the age I’m at now and they’ve got nothing because they just blew it all,” Leno added. CNBC’s ” Jay Leno’s Garage ” airs Thursdays at


Jay gets the big meatball because he paid for the roof!’ And then you get the big meatball and you get to sit at the head of the table,” said Leno. Leno, who hosted “The Tonight Show” for 22 years and now hosts CNBC’s “Jay Leno’s Garage,” said he never set out to become a multi-millionaire: “I enjoy working more than I enjoy making money. “So many people get to be the age I’m at now and they’ve got nothing because they just blew it all,” Leno added. CNBC’s ” Jay Leno’s Garage ” airs Thursdays at
Jay Leno shares his favorite way to spend money—and it’s not on flashy cars or homes Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-08-23  Authors: kathleen elkins, sgranitz, getty images
Keywords: news, cnbc, companies, jay, cars, big, million, work, moneyand, spend, shares, im, homes, meatball, money, leno, favorite, lenos, way, roof, flashy


Jay Leno shares his favorite way to spend money—and it's not on flashy cars or homes

“When I go back home and, if I can put a roof on my uncle’s house or help out one of the relatives, then when you go to dinner, ‘The big meatball is for Jay! Jay gets the big meatball because he paid for the roof!’ And then you get the big meatball and you get to sit at the head of the table,” said Leno. “It doesn’t get any better than that.”

Leno, who hosted “The Tonight Show” for 22 years and now hosts CNBC’s “Jay Leno’s Garage,” said he never set out to become a multi-millionaire: “I enjoy working more than I enjoy making money. I like to work hard. I was never someone who was always trying to make a gazillion dollars.”

Networks and other venues did end up paying him well — he reportedly earned as much as $30 million a year at the height of his career — but that didn’t change the “really conservative” financial philosophy he adopted from his Depression-era parents: “They just frightened me to death, saying, ‘You gotta save every penny!’ And I’m glad they did.”

“So many people get to be the age I’m at now and they’ve got nothing because they just blew it all,” Leno added. “I put my money in a hammock and say, ‘You relax. I’m going to go work.’ And when I come back, I put some more money in the pile. It sounds ridiculous but, if everything ends tomorrow, I know I’ll be fine.”

CNBC’s ” Jay Leno’s Garage ” airs Thursdays at 10 p.m. ET.

Don’t miss: NFL star Rob Gronkowski makes over $8 million but still has one ‘broke habit

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Company: cnbc, Activity: cnbc, Date: 2018-08-23  Authors: kathleen elkins, sgranitz, getty images
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Jay Leno has held two jobs at once since he was 16—here’s why

“Then I got to the point where the comedy money was, like, five times the other money, so I decided to flip it around and save the comedy money,” Leno says. “When I got ‘The Tonight Show,’ I always made sure I did 150 [comedy show] gigs a year so I never had to touch the principal,” Leno tells CNBC Make It. Even today, Leno, who now hosts CNBC’s “Jay Leno’s Garage,” still does two to three comedy gigs a week, or “210 jobs a year outside of whatever else I’m doing,” he says. CNBC’s ” Jay Leno’s G


“Then I got to the point where the comedy money was, like, five times the other money, so I decided to flip it around and save the comedy money,” Leno says. “When I got ‘The Tonight Show,’ I always made sure I did 150 [comedy show] gigs a year so I never had to touch the principal,” Leno tells CNBC Make It. Even today, Leno, who now hosts CNBC’s “Jay Leno’s Garage,” still does two to three comedy gigs a week, or “210 jobs a year outside of whatever else I’m doing,” he says. CNBC’s ” Jay Leno’s G
Jay Leno has held two jobs at once since he was 16—here’s why Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-08-09  Authors: kathleen elkins, kevin winter, getty images
Keywords: news, cnbc, companies, comedy, hosting, leno, 16heres, held, making, garage, lenos, gigs, jobs, money, jay, tonight


Jay Leno has held two jobs at once since he was 16—here's why

It wasn’t just having two streams of income that would end up making him a multi-millionaire — it was how he handed both paychecks: He banked the bigger one and lived off the smaller one. When he was first starting out, that meant saving the money he made working at the dealership and spending what he made as a comedian.

“Then I got to the point where the comedy money was, like, five times the other money, so I decided to flip it around and save the comedy money,” Leno says. “I would always spend the lesser amount of what the two were.”

He continued relying on this strategy even after he started hosting “The Tonight Show” in 1992, which reportedly earned him as much as $30 million a year at the height of his career. “When I got ‘The Tonight Show,’ I always made sure I did 150 [comedy show] gigs a year so I never had to touch the principal,” Leno tells CNBC Make It. “I’ve never touched a dime of my ‘Tonight Show’ money. Ever.”

Even today, Leno, who now hosts CNBC’s “Jay Leno’s Garage,” still does two to three comedy gigs a week, or “210 jobs a year outside of whatever else I’m doing,” he says. After all, “if you do something and it works, then keep doing it.”

CNBC’s ” Jay Leno’s Garage ” airs Thursdays at 10 p.m. ET.

Don’t miss: How Jay Leno went from earning minimum wage at McDonald’s to making millions hosting ‘The Tonight Show’

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Company: cnbc, Activity: cnbc, Date: 2018-08-09  Authors: kathleen elkins, kevin winter, getty images
Keywords: news, cnbc, companies, comedy, hosting, leno, 16heres, held, making, garage, lenos, gigs, jobs, money, jay, tonight


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