[laughter] max of today federal reserve board, you're not involved for the reserve, do they ever calldvice. >> it has happened but it's not the norm weekly payroll with the search committee so every summer there is a meeting of the federal reserve, what you call to out there? you where avoid what you do? why not go place closer? [laughter] >> they are by simply not all academic conference so kansas city site is on topic and they will find top congress to write papers about the topic or more than one topic jackson and they present their paper and people with an phasic in the afternoon they take a hike. >> you usually make a speech other like of the opening speech in the carefully work on my staff, is a but don't make the news. >> i really talk about the economic outlook try to take a step back to a higher level we can learn that the federal reserve is over 100 years old. around then uncle would you suggest words and you change it? >> i would do what congress did in 1933 and it didn't function very well the current structure was but in place this so that works really well and the mandat

reserve members behind closed doors for the federal reserve policy meeting. waiting to hear in this hour tomorrow whether the fed will signal a federal interest rate cut. nathanial hacketteny nodo running sofi and reported a big boost in lending and banking and tech business. anthony, let's tackle the fed and wall street betting the fed is unchanged at decades high. >> it's likely inflation has come down and inflation ticking up a bit and urgency to relief some of the fiscal constraint that's been there for the last two years as we've seen a 500 basis point move in rates so i think we'll likely get a move in september and the question is is it 25 basis points or 50? more likely 25 basis points and it's much easier than making one large move than one later in the year. liz: there's been a pause for seven meetings. not straight. there was a quarter point in july a year ago. in between two pauses and expect an eighth pause here for tomorrow. but can you tell me how you are anticipating or modeling for how your business whether lending or high yield brokerage acc

[laughter] so today, the federal reserve board you are not involved in picking anyone on the federalve board the president makes that decision to the call you for advice on who you might pick who they might pick? >> it has happened but i would think not the norm now. >> reserve bank presidents are different. we play all role for search committee from the reserve bank on that. >> every summer the federal reservee people out in jackson hole, what do you do out there? do you work cowboy boots, go and ride horses what you do question why do you need to order jackson hole wynot summer closer like baltimore? [laughter] cowboy boots are worn by some but not all. i do not wear them>> myself. >> is an academic conference. kansas city fed which puts this on will pick a topic. they will find top economist to write papers about that topic are more than one topic. come to jackson hole they present the papal people critique it, they praise it in that kind of thing that is the morning and in the afternoon people take a hike let me be clear and sunny rate hike it's a physical hike. [laughter] >> usu

it argues the federal reserve is the inflation problem. and eliminating the federal reserve and imposing economic policy on a fed that does not come from within the fed, so i am wondering here would you agree with any of what i just stated whether it came from me or ciaran mchenry or anyone else. speed i would just say it first of all. we are certainly fair game for any criticism people have. i think what we have learned and what we know is that having a central bank is really essential. if you want to have high and volatile inflation the quickest route to that would be to undermine the independence of the central bank of the fed in our case. i frankly think that view is widely held. i find up here on capitol hill in both political parties.>> solomon in the federal reserve is best for promoting economic stability? >> yes.>> thank you. >> i knew that our ranking member was going to come and deal with the is you of housing. she always does, and we all appreciate the fact she is obsessed with it, and i like that of session. but i am wondering

the hearing is titled federal reserves monetary policy report. we like creative titles into that is the traditional title. without objection members have five legislative days within which to submit materials. the hearing has a hard stop at y observe. i will now recognize myself for an opening statement. thank you for being back with us today. as the prices increase more than 20% inflation remains top of mind for american families. in fact only a quarter of americans describe the current economic conditions as good or excellent according to the most recent data from the economic confidence index. despite presi gas lighting inflation was not 9% when he took office. it was out of control inflation we are experiencing now is something that this administration did not inherit, but as a product of their policies and overspending. the nearly $2 trillion partisan and fiscally reckless spending as a part of the american rescue plan for fuel on a smoldering inflationary fire. after a delayed response to runaway inflation they acted with a historic pace of

[laughter] max of today federal reserve board, you're not involved for the reserve, do they ever call> it has happened but it's not the norm weekly payroll with the search committee so every summer there is a meeting of the federal reserve, what you call to out there? you where avoid what you do? why not go place closer? [laughter] >> they are by simply not all academic conference so kansas city site is on topic and they will find top congress to write papers about the topic or more than one topic jackson and they present their paper and people with an phasic in the afternoon they take a hike. >> you usually make a speech other like of the opening speech in the carefully work on my staff, is a but don't make the news. >> i really talk about the economic outlook try to take a step back to a higher level we can learn that the federal reserve is over 100 years old. around then uncle would you suggest words and you change it? >> i would do what congress did in 1933 and it didn't function very well the current structure was but in place this so that works really well and the mandate was ad

it is interesting getting back to the question on federal reserve. should play a role more on climate change? >> steve liesman, thank you. >>> coming up on "worldwide exchange," more digest what this change means as we kickoff this new trading week. if you haven't already, follow our podcast on your favorite podcast app. much more "worldwide exchange" coming up after this. when we're young, we're told anything is possible... ...but only a few of us go out and prove it. witness the greatness of anna hall on a connection worthy of gold: xfinity mobile. only xfinity gives you the most powerful mobile wifi network, with speeds up to a gig in millions of locations. and right now, get up to $800 off the new galaxy z flip6 and z fold6 when you trade in your current phone. get the fastest connection to paris with xfinity. >>> welcome back to "worldwide exchange." take a look at futures very close to the highs of the morning. s&p up .30%. the nasdaq is over .50% higher as well. remember, the s&p is coming off the worst week since april. joining me now to talk

. >> reporter: the federal reserve chairman is smiling. this is the report the federal reserve would like to see. core inflation coming down slowly. if it opens the possibility to a september rate cut before the elections, the next report is a good one also. >> got to put it in the context of seven good inflation reports and four bad reports, it is running over 3% by the preferred measure, not the cbo. that has to weigh on them. >> reporter: this is a decrease to cut rates. bad news for president biden. since the month, prices are up 19%, shelter costs up 22%, president biden's baby energy is up 33%, auto insurance up 53%. these are the policies people see as bidenomics. >> no one is expensing 3.1% inflation. we see that in consumer spending. 50% of their spending is on housing and healthcare. >> reporter: president biden saying his policies are helping make progress on inflation. then he's back to blaming companies for inflation. neil: i've been looking forward to having edward lawrence, new york times best-selling author, what went wrong

last week, the head of the federal reserve announced the reduction of interest rates in the future . it limited the downward trend of oil. the high interest rate of the federal reserve usually slows down the economic activities, which reduces the demand for oil and leads to a decrease in the price of oil. according to analysts, despite all these statements and even opec's statement that the oil index will decrease by 2.2 million barrels per day until the end of september 2024. brent could not cross the price of 90 dollars per barrel. maryam fadaei, sed and sima news agency. goodbye. the one who loves me, they say, tasher, the air of the glasses of my public jaw the hearts of labarrouh al-hinain. khlooni next to hossein khlooni has become the tar of my mind, i am crazy, i am jealous of your jealousy , and i am sorry for you, and the world is with us, karbala, we are with you. and he is the most beloved, and i am a virgin, and i am a virgin, yes, i am the master of imami, grahami, and umri, rukhsa lasneena , all the year of the heart, the sorrow of the labo, the spirit of al-hinaina ,

>> that is the strong view of the federal reserve. we are working on that question with the fdic to work on a path to do that. from our standpoint, that is essential. >> is a strong viewpoint from several members on the dais. that would be a very important thing. >> thank you, senator tell us. >> thank you, mr. chairman. it's good to see you again. coming this late in the questioning. i'm going to at least hit a couple of items that my colleagues otherwise already hit because i want to make sure it's noted that i raised it, as well. first of all, i agree with the chairman. i probably hear more on housing and housing affordability than any other issue and i agree with the chairman. and we discussed this around a rate cut and i understand most of the answer but i still want to -- we've got to find a way to start bringing market rates down and people can unlock that housing market and again, we discussed the rate cut issue and you've got to navigate that. i hope it is sooner than later. i will not recap what i have done in the last coupl

the presidential administration respects the federal reserve and does not try to influence our decisionsthis is unusual. i work at the federal reserve thirteenth year. and yes, there may be long periods when there is no communication, i consider this absolutely normal, one of the prospects of the digital ruble is cross-border transfers, the first deputy chairman of the department, dmitry pyanov, said this in an interview with re news. according to him, there is no likelihood of a complete transition of the market to settlements in the digital ruble in the near future, and it will be possible to talk about payback if the interface for cross-border settlements between two or three more countries in the digital ruble, yuan and other currencies is available, as well as if the calculation... will be protected and invisible to other counterparties. let me remind you that earlier the russian ministry of finance spoke about cross-border payments based on blockchain using digital financial assets, which proposed launching such a system within the framework of brix. the united states is unhappy wi

including the federal reserve.they overturn the case which had eliminated judicial deference to decision-making for many, many decades they dramatically a statute ofwh limitations under e administrative procedure act. what, in your judgment is the fact that these decisions of the federal reserve question it more broadly what is it mean to the economy than any regulatory decision the feded make can be second-guessed by a judge. what position are you in now? >> as an institution we are very focused on reading the letter and intent of the law and following it carefully but that's a strong institutional value that we have. are brand-new decisions that just came down we're in the process of studying so i do not have anything for you on them but we will of course follow the laww as our supreme court becaue that is their job. >> thank you and i concur in compliance with the law. when you do your analysis and if it is detrimental to your ability to regulate in the united states i think you have an obligation. >> thankr you

two weeks ago, -- two decisions that impact every federal regulatory agency, including the federal reserve. they overturned the chevron case, which had eliminated judicial deference to agency decision-making for many, many decades. they also dramatically extended the statutes of limitations done to the administrative procedure. what is your, the cumulative effect of these decisions on the federal reserve. and more important, what does it mean to the economy for any regulatory decision, the fed makes can be second-guessed by a judge. what position are we in now? >> we are, as an institution, very focused on reading the actual letter and intent of the law and following it carefully. this is a strong institutional value that we have. those are brand-new decisions that just came down and we are really in the process of just studying some. i don't have anything for you on them but of course, we will follow the law as a supreme court, as the supreme court has read it because that is their job. >> thank you. i concur with compliance with the law but when you do urinalysis, and if it is detrimenta

i understand the federal reserve plays a role in srt approving's. issue guidance to banks last fall. could you talk about the ways these investments can be a way for banks to offload risk, in what ways they could become a dangerous source of contagion? chair powell: there could be a breakdown in a couple of places in the chain. one is that the risk is not fully transferred to the buyer. the first step is, is that risk going away off the balance sheet and an unconditional kind of way? that is a good thing if banks can do that. and the question is is it coming back through the back door with financing? we are well aware of that. banks do tend to bring those things to us, we look at them carefully. we understand some of the ways it can go wrong. at the end of the day, if it works to reduce the risk on a bank's balance sheet, that is something we should be ok with. rep. foster: what sort of insight and control does the federal reserve have into all the connections? particularly when the connection may go through businesses that you do not have, non-bank

here in the us continues to fall — boosting hopes of interest rate cuts from the federal reserve.rump's former comms chief anthony scaramucci is warning not to trust the former president on tech. "the mooch" tells the bbc why top silicon valley bosses are ill advised to fund the former president's re—election bid. he was in the making with the budget for feature film comedy fast production challenge of the olympic opening ceremony. hello and welcome to business today. i'm erin delmore. wall street has that �*friday feeling' — with all three main stock indices opening strongly higher as confidence returns to the market. it's a positive end to a brutal week — a sell—off in big tech shares sparked off a rout that saw trillions of dollars wiped off global markets. lightening the mood — news out in the last hour that a key measure of inflation fell further injune — as investors were hoping — boosting expectations of interest rate cuts from the federal reserve. we'll get into more detail on that in a moment. lets speak tojeff grills from aegon asset management in darien, connecticut. ou

on the federal reserve board. the president makes those decisions and do they ever call you for advice on who you might pick or who they might pick? it has happened, but it is not the norm now. the reserve bank presidents are different and we play a role from the reserve banks on that. so every summer there is a meeting of the federal reserve people out in jackson hole. what do you all do out there? you ride horses and wear cowboy boots? >> cowboy boots are worn by some, but not all. i don't wear them myself. it's an academic conference so the kansas city fed will pick a topic and then they'll find really top economists to write papers about that topic or more than one topic. you come to jackson hole, they pre present their paper and they critique it and that's the mornings and people go take a hike and let me be clear, it is not a rate hike, it is an actual, physical hike. >> you make a speech there. >> yes. traditionally, i've done this every year, but not every year. i give the opening speech and it doesn't hav

this federal reserve is currently focused on inflation. they'll be paying very close attention to the inflation report which will be released next week, so we think that today's jobs report is -- and the fed will want to see more signs of slowing inflation. and we think that it's very likely that it cuts the fed funds rate 1-2 times later this year. taylor: keith, do you see this market rally solely based on hopes of a few rate cuts this year? >> no, it's interesting. and i respect olu's opinion, but i think they're not going to cut because they're caught between a rock and a hard place. but the rally is entirely different. the rally is based on the dawning recognition that technology matters, that the great companies are still putting up numbers. and traders and investors alike trying to get ahead of that. there's still a long way to go here. taylor: olu, it's interesting, keith just mentioned technology. from the fed if meeting minutes on wednesday, this was one of the first times i've heard the federal reserve mention a. a.i. and the di

federal reserve. i'm sure your base case is september, like so many others. are they doing so because they are comfortable with inflation or increasingly uncomfortable with the labor market? julian: this is one of these times when we look at that history. there has really been only one time where they are able -- were able to cut rates because they could and not because they had to. when you think about the labor market, no question it is weakening, but it is weakening gradually. to us, the bigger story is the fact that the confidence about inflation's trajectory is very much front and center. jonathan: you say gradually, others say sharply. some will take the sharp drop in hiring and the rising unemployment rate as a warning that the labor market could weaken more sharply. where will we be by september? julian: probably a tick or two higher. most would tell you that nehru is higher from where we are now. if you go back and you think about it, the weekly jobless, around 240,000 or so average, and you

we saw a lot of pressure coming from the administration on the federal reserve.fluence does a president have on the fed? >> the influence any president has on the fed is through his ability to nominate individuals to be governors, vice chair and chair. the president can only nominate someone if there is a vacancy. there will be no vacancies on the fed at least none are scheduled to occur until may, 20 26 when jerome powell's term is up here over time a president can nominate individuals. it is not a rubberstamp. the senate takes the advice and consent. seriously. over time the president can put appointees and if they get confirmed but nothing happens on day one. the fed on the first day of the next presidency is going to be the same fed we have right now. >> moving forward because it is not just the rate cut that we could see this year, a few more are priced in for next year. do you see the fed being constrained if donald trump is reelected and we do see higher tariffs and looser fiscal policy? >> again, there are certainly scenarios that would be inflationary an

reserve system, it is a private structure who didn't want to lose her control.t kennedy ran for the democratic presidency in 1968, won the primaries in california, and in honor of this he gave a speech in los angeles, but as soon as he finished, he received several bullets from a revolver from the palestinian sirhan at almost point-blank range. after multiple wounds, senator kennedy died the very next day. the sad tradition was opened by the seventh president of the united states, andrew jackson. at the end of january 1835, painter richard lawrence, armed with two pistols , tried to kill jackson near the capitol, but both barrels misfired. theodore roosevelt, who served two terms as president, also looked death in the face. intending to go third, he was on the campaign trail in 1912 when, before his speech in meluka, john shark shot him in the chest. by a lucky chance, the bullet was slowed down by a steel case for glasses from the folded manuscript of his speech, this saved roosevelt’s life, the chest wound was light, the politician even gave the planned speech

go down to edward lawrence live at the federal reserve. edward. >> reporter: federal reserve leaves rates unchanged in this. the statement, federal reserve says the economy is moving at a solid pace. the fed changed jobs part of the statement. job gains moderated but remain strong. unemployment rate moved up but remains low. they're talking about inflation that is a subtle downgrade in some of the language that could be prepared for september rate cut. they're saying inflation eased but remains somewhat elevated. now the federal reserve also changed the language to say there have been some further progress towards the 2% inflation goal and replaced modest progress. so further progress from modest progress. the fed says risks to achieving its goal are in better balance of the one important change they made this is the sentence, quoting from the statement, the economic outlook is uncertain and the committee is attentive to risks to both sides of its dual mandate. that is a change from risk to inflation and unemployment, edging higher. what i

plus, federal reserve chair jerome powell on wednesday stoked expectations for an interest rate cut iny of questioning in congress, powell reiterated the bank will make interest rate decisions "when and as" they are needed. let's get more on this with fiona cincotta from city index. it seems there is no stopping the markets in the us. he. it seems there is no stopping the markets in the us. no, what a phenomenal— the markets in the us. no, what a phenomenal performance. - the markets in the us. no, what a phenomenal performance. it i a phenomenal performance. it isn'tjust this week. across the first quarter of the year, across... so far the second quarter what we have seen as well and heading into the third quarter, and might have been strong gains. a couple of factors which are supporting these gains — obviously we have ai trade which has been phenomenally strong with chipmakers such as nvidia, broader chipmakers as well making strong gains and in addition to the ai stocks charging higher, you've also got this optimism surrounding the idea the federal reserve will start cutting intere

let's face it the excessive shadow of the federal reserve has made it tough but you still have to rely on fundamentals. all that and so much more on "making money." ♪. charles: so from a historical perspective this rally, believe it or not has gone according to script. two years into it it is really amazing. so the average move, by the way, this of course is from ryan detrick. he puts this great stuff out. these are all the bull markets going back to world war ii. on average, they go up after two years, 5.7%. you know how -- 57.7%. you know how much we're up to today? 57.7%. absolutely amazing. we're seeing some weird things. a record low number of names now outperforming the market this few names makes it feel really odd, right? here's the thing, asset manager and leverage fund managers have increased their positioning in the rally. als the rally has gone on they have bought more and more and more stocks and they have added to that. in the meantime though this is the risk appetite chart, right? that on the other hand, this is for every other investor, risk appetite is coming down a lo

in the us, the federal reserve has not provided much clarity on lowering the cost of borrowing, as thenomy grapples with a major cost—of—living crisis. china's growth recovery is also concerning amid a persistent property crisis and soft domestic consumption. added to that are geopolitical tensions, with wars in ukraine and the middle east fueling global uncertainty. i spoke with jameel ahmad, chief analyst at gtc group about what to look out for in the second half of the year. it was unprecedented because it was adding everything into your shopping basket. if you look at the s&p 500, new record highs more than 30 times. those are the records that co—ceo know rinaldo would be jealous of an israeli cabinet. it wasn'tjust us stock market with a fantastic start of the year. there were also hides for coco, bitcoin, and the nvidia supercharged towards becoming the largest company in the world by market capitalisation. but generally speaking we have also had some solid fundamentals. despite the highest interest rate policy and generations, particularly the united states, corporate earnings h

the focus is on the federal reserve meeting in july. on the federal reserve meeting injuly.is expected this year. in india a car maker has launched the first cng powered bike, a fuel efficient and morrison environmentally friendly one, which the comma says will get more to use the cleaner technology in coming years. our india business correspondent sent us this from the launch. this is a globalfirst. a motorbike that runs on compressed natural gas or cng. launched by india's company. from cars, to tuk—tuks, cngs have existed for a while. this is the first time this technology has been introduced on a two—wheeler. there have been numerous pilots that have never come to market. bajaj seems to have succeeded after years of trial and error. having a stand—out design. mit? having a stand-out design. why has it taken _ having a stand-out design. why has it taken so _ having a stand-out design. why has it taken so long? _ having a stand-out design. why has it taken so long? un - having a stand-out design. why has it taken so long? un like - has it taken so long? un like cars where

the stage is set for the federal reserve's meeting on wednesday, which could provide clues about theble interest rate cuts in the coming months. for the past year, the fed has kept its benchmark funds rate unchanged, holding steady between 5.25% and 5.5%. policymakers are expected to once again hold short—term interest rates steady at this meeting — but to tee up cuts for september. this for more on this i'm now joined by the head of us this head of us thank you for having me. we do exect thank you for having me. we do expect them — thank you for having me. we do expect them to _ thank you for having me. we do expect them to say _ thank you for having me. we do expect them to say no, - thank you for having me. we do expect them to say no, they - thank you for having me. we do | expect them to say no, they will hint at it, they will signal what they will not commit. they will not commit because we still have 2 inflation prints inaudible we have your feet breaking up inaudible we have your feet breaking up a little bit there, we're going to work on getting you back for this important c

before he came on federal reserve in in 2006 like any bank as a balance sheet. footings of the federal reserve, you can see two explosions one after financial meltdown over mortgagers and oak second over the pandemic. now, you're point is, it makes you suspect, makes anyone who understands this suspect. that the lower inflation or disinflation may not be permanent. >> right. money is a dirty word in central banking. but good common sense says too much money chases too few goods is key on inflation, we don't know where the economy will be 12 months from now there are elections and changes in policy, we know if you keep prints press going the improvement in inflation will disappear, fed does not seem worried about anonymous chinese tha -- does not seem worried about inflation. >> other thing you mentioned. is mr. j. powell not to be personal but on policy basis has encouraged the federal government federal spending massive federal spending which shows no signs of abating. >> the assets, they are treasure that the secretary of st treasury are issuing, i don't belie

federal reserve.amsung gets a boost from ai with profits growing at their fastest pace since 2010. but microsoft misses estimates for cloud revenue, sending shares lower. and hamas says israel has killed its political leader in an airstrike in iran. we will bring you the latest. so, from the geopolitics -- ♪ from central-bank decisions to the geopolitics to the earnings story, redheads crossing the terminal right now as we get the numbers crossing. and another strong set of results for spanish lenders. this time, it is bbva in the second quarter. net income for the spanish lender coming in comfortably above the estimates, just shy of 2.8 billion euros. vestments had been for just shy of 2.4 billion so it's a beat in terms of net income. goldman sachs had seen this bank outperforming. bbva saying it will "clearly outperform its 2024 goals." so, bbva hosting a rising start posting a rising profit -- posting a rising profit and its bid for sabado. the bid process is progressing according to plan. net int

in the us, the federal reserve has not provided much clarity on lowering the cost of borrowing as theconomy grapples with a major cost of living crisis. china's growth recovery is also concerning amid a persistent property crisis and soft domestic consumption. added to that are geopolitical tensions with wars in ukraine and the middle east fuelling global uncertainty. i spoke with jameel ahmad, chief analyst at gtc group, about what to look out for in the second half of the year. i would say it was unprecedented because it was like adding everything into your shopping basket. if you look at the s&p 500, it hit new record highs more than 30 times. those are the type of records that, to use a metaphor, that cristiano ronaldo would be jealous of in his trophy cabinet. it wasn'tjust us stock market with a fantastic start of the year. we had all—time highs for bitcoin, gold, and we should talk about as well nvidia supercharging towards becoming the largest company in the world by market capitalisation. but generally speaking, we have also had some solid fundamentals. despite the highest in

the government didn't dictate our life is much now the fact that the federal reserve and federal governmentthat i think something needs to break for everything to be reset properly. so probably on employment rising will be the kick in reaching that pickup without being said job openings are still high in my question is how many of those naturally real. >> charles: a lot of ghost jobs over there and by the way be careful -- some of -- how many bike lanes are you -- >> we've also lost our top ten in competitive edge. i think that one is real. >> charles: by the way next one is -- i'll be hosting a special town hall on foxbusiness is called. >> everyone: and breakable investor" -- i want families to come to this, i want the father, the mother, the son of an owner, will work on how to achieve unstoppable prosperity, to me a favor and do yourself a favor, scan your code -- to quote on your screen for a free ticket and i'll see you next week. it's not ready for this year' holiday rush but part of america's first modern highway had just been completed in michigan. foxbusiness' kelly subareas there

the federal reserve is the heart of tat is the bottom line.that's how the whole and we are going to march back there july 4. >> [crowd shouting "end thefed"] >>important will be deep investigation -- criminal investigations to end the deep state, that helped steeltrump's second victory, what do we have to do? >> the real constitutional crisis is we are supposed to have three branches of government but we have four. it is why americhaaround the world is collapsing on every for narayan connorsks when we will get trump back in office. of this insanity. steve bannon over to the guards in in four months to collect him in good health but we expect they will take good care of him and there will be accountability for that as well. >> fbi, doj, csa, all of the january 2025, what do they have to do? >> all those hyper bloated organizations they do a lot of really stupid things and they willbly if they are smaller. >> do you agre totally agree. >> thank you very much eric. it has been a message steve wi for four months and thank you for that. absolutely

trying to take control of this federal reserve system, this is actually an attempt, as it were , an attempts hegemony of the united states, at the same time that the state would begin to take control of it, which is why, in fact, kennedy, one of the reasons, probably , there was this, the second reason is, of course, the vietnam war, which actually ended in disgrace for the united states, but still the main thing is money, and money is the federal reserve system, it is a private structure that... senator robert kennedy was a contender for the presidency democrats in 1968, won the california primary in honor of this, he held a meeting in los angeles, but as soon as he finished, almost point-blank, he received several bullets from a revolver from the palestinian sirhan. after multiple wounds, senator kennedy died the very next day. the sad tradition was opened by the seventh president of the united states, andrew jackson. at the end of january 1835, painter richard lawrence, armed with two pistols , tried to kill jackson near the capitol, but both guns misfired. theodore roosevelt, who worked

i'll tell you what the federal reserve chair said about interest rates today on about interest rates today on capitol hill. dupixent helps people with asthma breathe better in as little as 2 weeks. and when you can breathe better, what isn't better? this is better. this is better. that's better. and that. even this. dupixent is an add-on treatment for specific types of moderate-to-severe asthma. it works with your asthma medicine to help improve lung function. that's pretty good! dupixent is not for sudden breathing problems. it's proven to help prevent asthma attacks. it can reduce or even eliminate oral steroids. and doesn't that make things better? dupixent can cause allergic reactions that can be severe. tell your doctor right away if you have rash, chest pain, worsening shortness of breath, tingling or numbness in your limbs. tell your doctor about new or worsening joint aches and pain or a parasitic infection. don't change or stop asthma medicines including steroids, without talking to your doctor. when you can get more out of your lungs, you can du more with less asthma. and i

looking ahead to the boj and federal reserve next week. conversation in the right direction. when you have big consensus trade like this one, for this long other things build on top of it so when you snap back in with speed and it's a matter from 160 down to 150, a thing start to crack. identifying where those are and where they are coming from is important. lisa: there is no evidence to suggest that, there seems like perhaps a few trades. the got blown out of same time. that's what a lot of people up talking about. hard to attribute some sort of fundamental reason behind that. jonathan: dollar-yen with a 157 handle and a 151 handle this week. let's get you an update this morning. here's dani burger. dani: mercedes is the latest automaker. it trimmed the upper range, it now expects returns between 10 and 11% in previously set the high-end could be 12%. automakers are under pressure from demand in china and a drop in purchases in europe with governments cutting back on financial incentives. her sadie shares fell before paring some of those

was the case just a few years ago, the federal reserve increased its interest rates between march 2022. and august 2023. >> those indirectly affect home mortgage rates the fed tightened interest rates, hoping to get inflation under control. we saw increase in mortgage rates. mark hamrick from bank rate says of inflation stays low. the fed could cut interest rates in september. >> fed chair jerome powell wouldn't commit to a timeline while testifying before the senate banking committee. we need just to see more good inflation data. but this economic analyst says he thinks mortgage rates could come down soon. we probably will see mortgage rates moving down over the next 6 to 12 months. but it's going to be following, you know, very slowly. and he says new inflation numbers. we expect on thursday could be a signal of when rates could come down in washington. i'm the day simlot. >> california is going to impose permanent water restrictions for the first time in state history. the goal is to permanently decrease water use in the state. so droughts are not as severe. this policy affects muni

that is exactly what the federal reserve is looking for, and thatis federal reserve is looking for, and are looking for right now because it opens the door to rate cuts in september next week notjuly, as your previous guest noted. that is important. there is concern we could see a broader weakening in the us economy in the second half of the year, not least because of earlier rate hikes and the repricing of loans, but also because of the uncertainty surrounding the election itself. we know 62% of our ceos surveyed said that they were going to delay big investment decisions around the election because of the extraordinary uncertainty setting us up extraordinary uncertainty setting us up for weaker growth and investment as we get show the turn of the year. you mentioned the election. who do you think the economy helps more given where we are in the economic cycle? democrats or republicans? everybody views the economy through the lenses of their partisan lenses and that distorts how people view it. there is also a real break between how republicans experience the economy and democrats in d

we have the federal reserve and the bank of england later this week.is the story on foreign-exchange. under surveillance, israel threatening further retaliation against hezbollah after striking targets in lebanon yesterday. the move in response to a rocket strike which killed 12 children and teenagers in the bowl heights over the weekend. meanwhile talks continue for a truce in gaza. a conversation last week is we seem to be equidistant between a truce in gaza and an escalation in lebanon. that is how finely balanced things are in that region. lisa: this is usually concerning . it is the biggest loss of life for israel going back to october 7. from a strategic standpoint this is been the big question, the elephant in the room. what happens with hezbollah at a time israel is trying to defend its northern border. at what point can you cool things down when mistakes could happen? peter tchir has been talking about this. when you start doing tit-for-tat missiles mistakes happen and you can escalate without meaning to. peter tchir has pointed to geopolitica

the federal reserve didn't, congress didn't tax for those dollars but simply the federal reserve increasedof money engaged in quantitative easing to the tune of trillions of dollars, that's the reason we have the inflation now. the reason that inflation has decelerated the past year is because friedman thought that there was a lag time between the increase in the money supply and the degree of inflation and likewise there is a lag time between when the money supply stops increasing as a deceleration of inflation. we've now basically gone through that cycle. it's not surprising that inflation has dropped from eight or 9% to three to 4% and that it will probably continue to drop to two or 3% in the next number of months irrespective of the federal reserve interest rate policy. friedman would have condemned the curtain federal reserve policy of raising interest rates in order to control inflation. he thought that that was a myth, didn't have anything to do with the rate of aggregate prices. his focus was undoubtedly quantity of money. that's the reason there was inflation. if you want less in

you can see the federal reserve, we have an earnings friendly environment and this notion the worst of inflation, where are we on that front and what we are hearing from jerome powell? jerome powell is saying the market is weakening. they have a dual mandate focusing on inflation and strong employment and signs of employment, that is the fear right now raising investors hopes. if it reverses quickly they will step in and act. i've been saying that's not going to happen. powell want to interfere with politics but following the presidential debate he may see it as a no-win situation. economically, you talked about earnings. the earnings front looks strong. analysts cut back expectations slightly coming into year 2 and q3 and q4 looking at double-digit growth. if that holds true, the economy and corporate profitability is in great shape. that bodes for pushing out the rate decreases. and between now and the election. whether it's trump or biden or to be determined, the economics of what comes in the economy. adam: markets getting no respect, the better earnings look, the better the multip

>>>v at the heart of corruption, the federal reserve. oney works? because he knw a man who went to harvardlls supposed to talk about how the system actually works. all of you know. you know what it is to be a suit's disgusting. >> july 4 why arening a campaign on leading a march in n police. the federal reserve is the heart of torn.■ th is the bottom line. that's how the whole are going k there july 4. wi8>>ting "end thefed"] >>importantps will beé8 deep investigation -- criminal investigations to end the deep state, that helped steel%a trump's second victory, what do we have to do? >> the real constitutional crisis is we are supposed to ■x three branches of government but we have four. it is why ics stdiaround the wog on every for narayan connorwhenn office. america cannot stand anymore of this insanity. bannon over to the guards in therin here and we will be here in four months to collect him in good health, maybe a little thinner but we expect they will take good care of him and there will be accountability for that as well. >> fbi, doj, csa, all

this is the footings of the federal reserve accept theirs is all underwater. see the explosion.fter the financial meltdown over mortgages and second after the pandemic. didn't erase this one because the pandemic has been over for quite some time. your point, makes this suspect, anybody who understands this suspect, that the lower inflation or disinflation may not be permanent. >> that is exactly right. money is a dirty word around central bankers. it is a dirty word in the harvard economics department. common sense says too much money chasing too few goods is the key to inflation. you and i don't know exactly where the economy will be 12 months from now. there are elections, there are changes in policy but we know if you keep the printing press going this improvement in inflation will disappear. the fed doesn't seem so worried about inflation. that's why they last november promised there would be all these interest rate cut this is year. the american people are still worried and for good reason. larry: a huge factor. the other thing you mentioned there, mr. jay powell, not to be

the federal reserve should be data dependent.s they should be lowering rates, they're not a political entity, though i understand why he would say those things. the taiwan thing is the one that stands out to me the most. i'll let others talk about that, but you talk about an existential risk to the market. it's china doing something with taiwan. whether it's an invasion or a blockade or something, and if we have a stance where, you know, they're going to be left to their own devices, i think that's problematic for the market. >> karen, thoughts? >> very much agree on that. jamie dimon, no way would he will treasury secretary. i don't have any unique particular insight, but i just absolutely cannot see that happening. >> right. >> can you make bitcoin in the usa? can you contain bitcoin -- >> he has been bullish on miners, so, that's what -- so, he -- you know, the beauty -- the people that like trump is that he's a moving target, right? you can't box him up. he changes his mind on stuff. and when you think about it, isn't it game

federal reserve's earnings. my hope is that people understand that, that definition is one that allows for the earnings to mean total net income. not net profits. that is the battle you have to continue to fight. you fight to protect the consumer and then you fight to protect the agency from my colleagues who would like to and than the agency. you have quite a battle on your hands. but let's talk about the absence of the cfpb and what veterans would have to contend with, because currently you are serving 1.3 million active duty service members, 1.5 family members of active duty service members 770,000 members of the , national guard 980,000 , national guard and reserve reserve family members and 18 million veterans. what is it that these persons, in the absence of a cfpb, would have to contend with? we know there are people who target them, who would take advantage of them when it comes to lending practices. tell us if you would. dir. chopra: one of my former colleagues used to describe some companies looking at

now, of course, if you look at these numbers with the dow up 242, the federal reserve chair has a roleing the bull's fuse lit today during his second day of congressional testimony, this time before the house financial services committee, he flat out said the central bank does not want to wait until inflation drops to 2% before cutting interest rates. republican congressman byron donalds of florida sits on the house financial services committee. he's getting in front of our cameras on the hill. he's going to join us on that plus he has spent a lot of time lately with donald trump. we are going to ask him about the news, just breaking on politico that house democratic leader hakeem jefferies told lawmakers he will relay their concerns to president biden and how maybe the trump campaign will take that and run with it. back to the markets in this a.i. call by blackrock, tesla is a monster on pace for its 11th win in a row right now. it is gaining just under 1%. ceo elon musk tweeting that the design for tesla's optimus a.i. human robot will be complete by the end of this year. now, last m

senator loomis came out with a bill, the federal reserve currencies, trump suggests he would supportogether and he did get some money, 25 million, more money possibly coming in. democrats see merit in trump going after them. they are trying their own offense. they were late to the game. the hedge fund impresario, i don't think it will work because there's so much animus in the biden administration but that is where we are. people that attended the event, jake paul, kid rock, the winkle foss twins who gave money to trump and marsha blackburn was there and senator haggerty with a fundraiser. there you go. crypto is not weird. neil: we have more on technology after this. the military you're really close with your brothers and your sisters that are in the military with you. and when you get out of the military, you kind of lose that until you find a new family. we can talk about our struggles and the things that we did overseas and not everybody can do that. adam! how's it going, brother? we live pretty close to each other. so he's always coming over. when i go to jack's house, we watch