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. >>> minneapolis fed president neel kashkari telling cnbc exclusively that the federal reserve cannot rule out future hikes with inflation stubbornly above saying more positive day is needed before rates come down >> we had very strong growth u.s. con p assumesumers remaine resilient. i'm not seeing a need to give a rate cut we need to get it right. >>> u.s. futures are pointing higher as investors look ahead to friday's all-important pce print. >>> israel announcing an investigation into the strike that killed dozens of civilians in the camp in rafah with prime minister benjamin netanyahu blaming a technical failure. >> translator: despite our utmost effort not to harm residents, a tragedy occurred yesterday. we are investigating a case. we will draw conclusions because this is our policy. >>> and 120 business leaders, including senior figures from jpmorgan chase and aston martin back the labour party ahead of the july's general election. >>> good morning, everyone so glad you are with us today. we have a packed show for you today. let's get things rolling minneapolis fed president n
. >>> minneapolis fed president neel kashkari telling cnbc exclusively that the federal reserve cannot rule out future hikes with inflation stubbornly above saying more positive day is needed before rates come down >> we had very strong growth u.s. con p assumesumers remaine resilient. i'm not seeing a need to give a rate cut we need to get it right. >>> u.s. futures are pointing higher as investors look ahead to friday's all-important pce print. >>> israel...
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May 28, 2024
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minneapolis fed president neel kashkari was on cnbc earlier >> the u.s. economy has remained remarkably resilient gdp growth has been strong most people thought we would be in the recession toward the end of last year that didn't happen the housing market has remained resilient. i'm not seeing the need to hurry and do rate cuts i think we should take our time and get it right. >> i was listening to what he was saying he didn't say they're off the table or push them back. he said no hurry how do the comments impact the market >> that is bullish for him taking a nice summer break we think the rate cuts are going to start in september. we think two this year not necessarily out of line. the fed, you know, that was a bit of a victory lap saying things are on track. we can afford to take our time >> so, do you think that's a change in what he was saying before or is he staying consistent he is a voting member, by the way. we keep hanging on every single word did you see any changes in his commentary or is that consistent to you >> i think the broader message o
minneapolis fed president neel kashkari was on cnbc earlier >> the u.s. economy has remained remarkably resilient gdp growth has been strong most people thought we would be in the recession toward the end of last year that didn't happen the housing market has remained resilient. i'm not seeing the need to hurry and do rate cuts i think we should take our time and get it right. >> i was listening to what he was saying he didn't say they're off the table or push them back. he said no...
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May 29, 2024
05/24
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in hawkish remarks from the fed's neel kashkari. the nasdaq marks the trend in closing in another record powered by nvidia. israel's army says tanks are in the center of raw. meanwhile, the u.s. says sunday strike on an encampment was devastating, but won't invade arms shipments to israel. palms open in south africa as the tightest election since the anc first came into office in 1994 gets underway. we are live durban this morning for all the reaction. let's check in on these markets. it's the selloff in the bond markets that has our attention. given the weakness that we saw in terms of the treasury auctions of this week. the two-year period the five year, the demand of the weakest level. we have a seven your auction later today. but also, neel kashkari putting back on the table optionality across a wake -- rate hike across the federal reserve. not the base case but saying it will not be ruled out. consumer survey coming in higher. all of that leading to the selloff across the bond market. when it comes to stocks picture, looking to
in hawkish remarks from the fed's neel kashkari. the nasdaq marks the trend in closing in another record powered by nvidia. israel's army says tanks are in the center of raw. meanwhile, the u.s. says sunday strike on an encampment was devastating, but won't invade arms shipments to israel. palms open in south africa as the tightest election since the anc first came into office in 1994 gets underway. we are live durban this morning for all the reaction. let's check in on these markets. it's the...
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May 10, 2024
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we'll hear from two presidents, neel kashkari and austan goo goolsbee >> and also consumer discretion advised? should investors proceed with caution and where. we'll ask you. to start a business, you need an idea. it's a pillow with a speaker in it! that's right craig. a team that's highly competent. i'm just here for the internets. at&t it's super-fast. reliable. you locked us out?! arrggghh! ahhhh! solution-oriented. [jenna screams] and most importantly... is the internet out? don't worry, we have at&t internet back-up. the next level network. i sold a pillow! we put our heart into celebrating moms. we are local farmers, bakers, florists and makers who grow and create with a passion. 1-800 flowers. for mom, with love. (vo) what does it mean to be rich? maybe rich is less about reaching a magic number... and more about discovering magic. it's a beautiful... ...day to fly. wooooo! . >>> and we'll see if the winning streak holds on. but the fate of the rally could hinge on what the fed does and when for some key insight on that, we go to steve liesman with not one but two fed president
we'll hear from two presidents, neel kashkari and austan goo goolsbee >> and also consumer discretion advised? should investors proceed with caution and where. we'll ask you. to start a business, you need an idea. it's a pillow with a speaker in it! that's right craig. a team that's highly competent. i'm just here for the internets. at&t it's super-fast. reliable. you locked us out?! arrggghh! ahhhh! solution-oriented. [jenna screams] and most importantly... is the internet out? don't...
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May 8, 2024
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haidi: not just the fed, we heard from neel kashkari speaking to bloomberg earlier saying they are not going to back down from higher-for-longer until they are confident inflation has returned to desired levels. but also, australia going into the open, we had our rba signaling it will be a higher-for-longer rate environment in this economy you will. annabelle: that's right and one of the stories we are tracking is that rents could be the next thing to fall in this inflation battle. at the start of the day, it is that focus on what is happening with the japanese yen, heading closer to the 155 mark. we had governor ueda meeting the japanese prime minister for the first time in seven weeks, it's actually an unusually short periods between talks for the two. tells us perhaps it's a bit of a shifting approach for the boj in terms of the yen direction and we could perhaps get the boj joining government officials in verbal intervention. this we know they are closely attuned to the economic impacts. automaker stoxx, for instance,, traditionally a key beneficiary of the weaker yen are now start
haidi: not just the fed, we heard from neel kashkari speaking to bloomberg earlier saying they are not going to back down from higher-for-longer until they are confident inflation has returned to desired levels. but also, australia going into the open, we had our rba signaling it will be a higher-for-longer rate environment in this economy you will. annabelle: that's right and one of the stories we are tracking is that rents could be the next thing to fall in this inflation battle. at the start...
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May 29, 2024
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consumer confidence in hawker's remarks out of neel kashkari on the fed here, adding to these receding expectations for rate reductions, plus, aluminium recycler files for an ipo and plans to raise around $900 million. we speak to the md of the parent company about that specific fund raising plan. welcome to the show and we are heading into the latter part of the morning session in most parts of the region. of course we have indian markets coming online this hour, just give us a flavor of what the direction is looking like a head of that open in india, avril hong is with us at of singapore, just give us a check of how these markets are doing at this point. avril: i think it's negative pole stay. india stocks look to be opening on the back. it was a wall street session, don't forget, that was dominated by the selling in u.s. treasuries that yield on the 10 year really hitting that 4.5 five level losing for the ground and the asian session. then we got the australia cpi print which kind of reminded everyone about how hard this last inflation fight is going to be. we are really seeing tho
consumer confidence in hawker's remarks out of neel kashkari on the fed here, adding to these receding expectations for rate reductions, plus, aluminium recycler files for an ipo and plans to raise around $900 million. we speak to the md of the parent company about that specific fund raising plan. welcome to the show and we are heading into the latter part of the morning session in most parts of the region. of course we have indian markets coming online this hour, just give us a flavor of what...
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neel kashkari. >> neel kashkari. >> i'm out of here man, see you later. charles: he swings, it is really hard, at some point it feels like we cannot necessarily ignore that because coming into this rate hiking cycle jay powell more or less said i'm not going to be arthur burns. which not only means i will not cut too soon but i will not fall asleep at the wheel, if inflation is there we will seize it, we will attack it. >> jay powell is being arthur burns right now. there is no ifs, ands or you buts. inflation remained above trend. think about leading indicators of inflation, labor costs are moving in deleterious manner when it comes to inflation outlook. charles: policy? >> policy is getting very interesting. for most of this bull run we've seen since late october we've seen monetary and fiscal policy rowing the boat in the same direction. we now have monetary policy continuing to go down the awkward dovish path, ignoring all the inflation data. treasury financing policy. gotten more materially hawkish. likely to get very generous for asset market as we
neel kashkari. >> neel kashkari. >> i'm out of here man, see you later. charles: he swings, it is really hard, at some point it feels like we cannot necessarily ignore that because coming into this rate hiking cycle jay powell more or less said i'm not going to be arthur burns. which not only means i will not cut too soon but i will not fall asleep at the wheel, if inflation is there we will seize it, we will attack it. >> jay powell is being arthur burns right now. there is...
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May 28, 2024
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minneapolis fed president neel kashkari said policies and folders should take their time in cutting rates. settling stocks faster, the equity markets get to t plus one, trades it settled in a single day. is wall street ready for the shift? higher for longer with housing. mortgage rates hovering near 7%. what does it mean for the dream of home ownership? compass director robert r efkin joins in just a bit. i'm katie greifeld in new york. welcome to bloomberg markets. looking at markets tuesday morning, slightly lower on the s&p 500. it did manage to have a very slight gain last week. that would have been a fifth straight week of gains at all-time highs but seeing a bit of a breather this morning. the nasdaq 100, the same thing. small caps outperforming. we have seen this before with this index and may be seeing it again. currently up .3% when it comes to the russell 2000. we have consumer confidence data crossing right now. let's get to mike mckee who has all of the details. michael: for those worried about the u.s. economy will see a rebound today that might change their minds about the c
minneapolis fed president neel kashkari said policies and folders should take their time in cutting rates. settling stocks faster, the equity markets get to t plus one, trades it settled in a single day. is wall street ready for the shift? higher for longer with housing. mortgage rates hovering near 7%. what does it mean for the dream of home ownership? compass director robert r efkin joins in just a bit. i'm katie greifeld in new york. welcome to bloomberg markets. looking at markets tuesday...
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May 8, 2024
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tom: neel kashkari speaking, the view on higher for longer. he did not rule out increase, he said we would consider an increase. leading into the fed market pricing 43 basis points, two credits -- cuts priced in. let's talk about inflation, stickiness and the crocodile math -- mouth shape. you have cpi they expect 3.1%. pce is coming down sharply. what does that tell you as we see rental costs increasing? we will speak about ai with ceo dennis today. next, markets today. this is bloomberg. ♪ her uncle's unhappy. i'm sensing an underlying issue. it's t-mobile. it started when we tried to get him under a new plan. but they they unexpectedly unraveled their “price lock” guarantee. which has made him, a bit... unruly. you called yourself the “un-carrier”. you sing about “price lock” on those commercials. “the price lock, the price lock...” so, if you could change the price, change the name! it's not a lock, i know a lock. so how can we undo the damage? we could all unsubscribe and switch to xfinity. their connection is unreal. an
tom: neel kashkari speaking, the view on higher for longer. he did not rule out increase, he said we would consider an increase. leading into the fed market pricing 43 basis points, two credits -- cuts priced in. let's talk about inflation, stickiness and the crocodile math -- mouth shape. you have cpi they expect 3.1%. pce is coming down sharply. what does that tell you as we see rental costs increasing? we will speak about ai with ceo dennis today. next, markets today. this is bloomberg. ♪...
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May 7, 2024
05/24
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haidi: neel kashkari speaking there at the milken conference in beverly hills. looking pretty mixed as we get to the start of trading. we are half an hour away from the start of cash trading in sydney. .2% indicated upside for features after we had a mixed set of interesting messaging from the rba despite staying on hold as expected at 4.35% at the meeting yesterday. kiwi stocks seeing some downside, nikkei futures looking muted, looking like we will see a negative start of the session. we heard from the boj governor saying he had communicated how carefully they are watching doubles and the yen to prime minister kishida. that weaker currency, when it comes to the benefit you have for exporters, it used to reliably boost shares of carmakers in japan. but it is interesting the correlation between the yen and stock prices has broken down. our senior asia stop order joins us to explain why. you have long said currency is only a small factor when it comes to the rally. we have seen that correlation decrease for the carmakers? >> yeah. it is very interesting because c
haidi: neel kashkari speaking there at the milken conference in beverly hills. looking pretty mixed as we get to the start of trading. we are half an hour away from the start of cash trading in sydney. .2% indicated upside for features after we had a mixed set of interesting messaging from the rba despite staying on hold as expected at 4.35% at the meeting yesterday. kiwi stocks seeing some downside, nikkei futures looking muted, looking like we will see a negative start of the session. we...
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May 8, 2024
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. ♪ haslinda: welcome back, minneapolis fed president neel kashkari things is likely the u.s. bank will hold rates until officials are confident inflation is under control. speaking with bloomberg tv at the milken institute global conference, the fed will do what's needed to hit its 2% target. >> the second half of 2023 surprised us at how rapid the inflation fell. it was really good news in the economy remains strong. we all hope that was going to continue. the first quarter of this year it seems it stalled out. it is a little too soon to declare that we are definitely stalled out and it's taking more time. labor market is still strong. we could get more data to see if disinflation is going to continue, and if it does great, if it doesn't, we need to take this on board. >> what is the complexion right now of disinflation? what drove us down to the level we are at now? >> most of the gains were supply-side improvements. supply chain's getting better, americans coming back to work. a lot more workers entering the workforce. that's really positive. i don't think monetary policy
. ♪ haslinda: welcome back, minneapolis fed president neel kashkari things is likely the u.s. bank will hold rates until officials are confident inflation is under control. speaking with bloomberg tv at the milken institute global conference, the fed will do what's needed to hit its 2% target. >> the second half of 2023 surprised us at how rapid the inflation fell. it was really good news in the economy remains strong. we all hope that was going to continue. the first quarter of this...
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May 13, 2024
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kashkari and austan goolsbee with regards to what they think rates could be doing. the question is if any rate cuts kickoff this year and whether they offer any symbolism to a rate cut path for the future across europe, anticipation is you will see june become the mark for the interest rate cuts. 2.51 for the ten-year bund italian at 3.85 paper. the ten-year yield in the united states is at the 4.5% mark. >>> european banks are one we could focus on past 200 points and that is at a nine-year high and managing to gain .13%. it is gaining 18% year to date past 200 and now at the highest point since august of 2015 that shows some confidence coming back into some of the lenders. to give you a note, the number of investors who are also making short bets against the european banks have managed to go a little bit higher. yes, you are seeing this begin to pick up, but the short investors are betting that things will drop off consistently so, they have data from hazel tree saying the number of funds betting on the share price for nat west has doubled from 16 to 31. deutsche
kashkari and austan goolsbee with regards to what they think rates could be doing. the question is if any rate cuts kickoff this year and whether they offer any symbolism to a rate cut path for the future across europe, anticipation is you will see june become the mark for the interest rate cuts. 2.51 for the ten-year bund italian at 3.85 paper. the ten-year yield in the united states is at the 4.5% mark. >>> european banks are one we could focus on past 200 points and that is at a...
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May 7, 2024
05/24
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a three year note auction to be walking along with marks from neel kashkari a little later tuesday. the aussie dollar holding steady at that 66.24 level. we have seen some moves when it comes to haven currencies, seeing that drop versus peers. watching oil and other commodities as well this morning. crude is extending what is still a pretty modest advance. still under $84 a barrel for brent crude. tensions in the middle east, israel rejecting a cease-fire proposal for the gaza strip. a broader risk on move for water markets, but some upside report for crude. we're also watching some other metals, iron ore prices up 20%. so, watching iron ore and steel pricing and how that plays into some of the australian miners as well. and as i mentioned, treasuries, this is the picture before we get remarks from neel kashkari this morning. annabelle: actually let's stick with the fed theme and bring in our next guest to ex-pats -- who expects asia outperforming and easing cycle. with us is ray sharma-ong from abrdn. ray, curious were your views here. why exactly do you see the outperformance from
a three year note auction to be walking along with marks from neel kashkari a little later tuesday. the aussie dollar holding steady at that 66.24 level. we have seen some moves when it comes to haven currencies, seeing that drop versus peers. watching oil and other commodities as well this morning. crude is extending what is still a pretty modest advance. still under $84 a barrel for brent crude. tensions in the middle east, israel rejecting a cease-fire proposal for the gaza strip. a broader...
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May 27, 2024
05/24
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and neel kashkari will speak to "squawk box" on tuesday. >>> coming up on the show, emmanuel macron kicking off the first presidential state visit to germany in 24 years we will be bringing you latest we'll be back in two with absorbine pro, pain won't hold you back from your passions. it's the only solution with two max-strength anesthetics to deliver the strongest numbing pain relief available. so, do your thing like a pro, pain-free. absorbine pro. >>> hello, everyone. welcome back to the show let's recap the ifo data out of germany for you for the month of may. the german business morale stagnating according to the survey which fell short of the forecast improvement for the month of may the ifo institute saying the economy remaining constant at 89.3 expectations, on the other hand, brightened let's dissect the data with clemens fuest. it is a pleasure steek peaking h you. is this glass half full or half empty? >> in this case, the glass is half full. the economy is stagnating overall, but we see improvements in the sectors which have been struggling most, in particular in manufacturing
and neel kashkari will speak to "squawk box" on tuesday. >>> coming up on the show, emmanuel macron kicking off the first presidential state visit to germany in 24 years we will be bringing you latest we'll be back in two with absorbine pro, pain won't hold you back from your passions. it's the only solution with two max-strength anesthetics to deliver the strongest numbing pain relief available. so, do your thing like a pro, pain-free. absorbine pro. >>> hello,...
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May 28, 2024
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. >>> when we come back, minneapolis fed president neel kashkari speaking to our colleagues in europe overnight we have his comments on the fed's rate path stlaraight ahea >>> later, less than a month to go before the first presidential debate we will talk debate prep later this hr.ou "squawk box" will be right back. unlocking the power of thinkorswim, the award-winning trading platforms. bring your trades into focus on thinkorswim desktop with robust charting and analysis tools, including over 400 technical studies. tailor the platforms to your unique needs with nearly endless customization. and track market trends with up-to-the-minute news and insights. trade brilliantly with schwab. norman, bad news... i never graduated from med school. what? -but the good news is... xfinity mobile just got even better! now, you can automatically connect to wifi speeds up to a gig on the go. plus, buy one unlimited line and get one free for a year. i gotta get this deal... i know... faster wifi and savings? ...i don't want to miss that. that's amazing doc. mobile savings are calling. visit xfinity
. >>> when we come back, minneapolis fed president neel kashkari speaking to our colleagues in europe overnight we have his comments on the fed's rate path stlaraight ahea >>> later, less than a month to go before the first presidential debate we will talk debate prep later this hr.ou "squawk box" will be right back. unlocking the power of thinkorswim, the award-winning trading platforms. bring your trades into focus on thinkorswim desktop with robust charting and...
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May 28, 2024
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the s&p 500, despite the better consumer confidence data, it was mixed because in their we had neel kashkari floating the idea that the fed hasn't completely shot down an interest rate increase as the next move. two-year yield's higher on the day after a soft auction and we will continue to monitor the art -- markets throughout the afternoon. ♪ craig here pays too much for verizon wireless. so he sublet half his real estate office... [ bird squawks loudly ] to a pet shop. meg's moving company uses t-mobile. so she scaled down her fleet to save money. and don's paying so much for at&t, he's been waiting to update his equipment! there's a smarter way to save. comcast business mobile. you could save up to 70% on your wireless bill. so you don't have to compromise. powering smarter savings. powering possibilities. >> from the world of politics of the world of business, this is "balance of power." live from washington, d.c. joe: closing arguments are now underway. welcome to the fastest show in politics, as the donald trump criminal trial in new york enters its final phase before the case goes
the s&p 500, despite the better consumer confidence data, it was mixed because in their we had neel kashkari floating the idea that the fed hasn't completely shot down an interest rate increase as the next move. two-year yield's higher on the day after a soft auction and we will continue to monitor the art -- markets throughout the afternoon. ♪ craig here pays too much for verizon wireless. so he sublet half his real estate office... [ bird squawks loudly ] to a pet shop. meg's moving...
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May 8, 2024
05/24
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this goes to what neel kashkari said. "the most likely scenario is we sit here for an extended period of time." the question is what is that extended time and what date it is he want to see before they begin cutting rates? jonathan: let's deal with central banks elsewhere. the world's oldest central bank, the ricks bank in sweden, they make a move. in japan he is starting to make a different kind of move. he is starting to talk of a policy shift. he said abrupt one-sided weak yen is bad for the economy and maybe they can -- lisa: the yen is losing value which means the credibility verbal intervention has in japan is nada. raising the prospect but not seeing it in market action. annmarie: they've already tried verbal intervention and it did not work, and it did work, but it is not holding on. i maintain that 160 is the in the sand. jonathan: back down to 155.40. plenty of developments in the middle east. according to a senior u.s. administration official united states has paused a shipment of bombs to israel. clear concern
this goes to what neel kashkari said. "the most likely scenario is we sit here for an extended period of time." the question is what is that extended time and what date it is he want to see before they begin cutting rates? jonathan: let's deal with central banks elsewhere. the world's oldest central bank, the ricks bank in sweden, they make a move. in japan he is starting to make a different kind of move. he is starting to talk of a policy shift. he said abrupt one-sided weak yen is...
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May 28, 2024
05/24
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minneapolis fed president neel kashkari sitting down with cnbc international saying he thinks the fed should take its time when it comes to cuts. let's listen. >> remain remarkably resilient gdp growth has been stronger than forecast. most people thought we would be in a recession toward the end of last year that didn't happen and very strong growth u.s. consumers have remained resilient. the housing market has remained resilient. i'm not seeing the need to hurry and do rate cuts i think we should take our time and get it right. >> joining me now to discuss is pimco's rich clarida, the former vice chair of the federal reserve. mr. clarida welcome back nice to see you again? >> you bet. >> let's cut through some of what mr. kashkari said we should take our time and do it right what does that mean? >> well, i'm glad to hear that from my good friend neel kashkari i think it means data dependence the data has been disappointing year to date and so fed rhetoric has moved away from highlighting a cut to we'll let you know when we're going to do that, and i think there's a real case that we
minneapolis fed president neel kashkari sitting down with cnbc international saying he thinks the fed should take its time when it comes to cuts. let's listen. >> remain remarkably resilient gdp growth has been stronger than forecast. most people thought we would be in a recession toward the end of last year that didn't happen and very strong growth u.s. consumers have remained resilient. the housing market has remained resilient. i'm not seeing the need to hurry and do rate cuts i think...
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minneapolis fed bank president neel kashkari speaking at the milken conference in california and said due to persistent inflation particularly in the housing sector, the central bank will probably keep interest rates where they are for an extended period of time. now, with earnings season nearly over, what does that mean? where should investors look for market direction? joining me now, seaport securities founder e ted weisberg and pin know slative capital management's head of investment strategy tim urban wits. let me start with you, tim, because you have specifically talked about the overall economy and that investors should not be leaning on this hope or investing around the hope of a rate cut. >> that's exactly right, liz. our call all year has been you're going to see the fed that continues to hold rates steady at this level, and in the short term we expect you're going to continue to see volatility in interest rates as a investors continue to extrapolate as to what the next move is based on every little macroeconomic data point that comes out. and, liz, we did see some good news
minneapolis fed bank president neel kashkari speaking at the milken conference in california and said due to persistent inflation particularly in the housing sector, the central bank will probably keep interest rates where they are for an extended period of time. now, with earnings season nearly over, what does that mean? where should investors look for market direction? joining me now, seaport securities founder e ted weisberg and pin know slative capital management's head of investment...
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May 10, 2024
05/24
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all right, dutch, fed president neel kashkari saying that the fed is interested in a.i. because it contributes to product it. we know -- productivity. we know it's a huge investment theme these days, so my question to you is, how are you playing it? >> well, we did a nifty little trade on soun ahead of earnings, so, you know, what we like are the big stocks like nvidia and microsoft if and the a.i. space. they're really the ones that are going to win. but the other way we're play being it really is in the cloud computing, networking area, networking equipment. so there's really three stocks this there. one of which you all can see today, anet, arrest that network is killing it. we are personally in vertiv and powell which are flat out just, you know, the next shortage that we're going to see out there is this electronic cloud computing equipment. and so they are just firing on all sill. ener thes. so those are the two many that sector. and our returns have been up around 250 year to date. we're up around 99 already -- 999% already this month, and we -- 9% in this month.
all right, dutch, fed president neel kashkari saying that the fed is interested in a.i. because it contributes to product it. we know -- productivity. we know it's a huge investment theme these days, so my question to you is, how are you playing it? >> well, we did a nifty little trade on soun ahead of earnings, so, you know, what we like are the big stocks like nvidia and microsoft if and the a.i. space. they're really the ones that are going to win. but the other way we're play being it...
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May 6, 2024
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tomorrow, neel kashkari. wednesday, a whole bunch of them. thursday and friday the same. but they are not -- you can see it in the graphic there, the ones in yellow are the ones to pay attention to, they are talking about monetary policy but there is not much data for them to sniff out. consumer credit wholesale, jobless, michigan sentiment, that's about it. the data are not going to drive what the fed is thinking about, but may the auctions will. sonali: interestingly enough, you saw moves at many parts of the curve here. it was an interesting bid coming into the two-year, the 10 year. are those investors safe at these levels? or could they see some pain ahead? ira: i think that we will continue to rally in the near term. without any data to kind of push us against the rally, i would say stick with near-term momentum. yields are lower maybe trying to find a new range for the 10 year . those are important levels, 4.31%. i know it's very specific, but that was an important resistance level on the way up and it will be there on the way down. third-year auction, you mentione
tomorrow, neel kashkari. wednesday, a whole bunch of them. thursday and friday the same. but they are not -- you can see it in the graphic there, the ones in yellow are the ones to pay attention to, they are talking about monetary policy but there is not much data for them to sniff out. consumer credit wholesale, jobless, michigan sentiment, that's about it. the data are not going to drive what the fed is thinking about, but may the auctions will. sonali: interestingly enough, you saw moves at...
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May 15, 2024
05/24
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retail sales neel kashkari, nikki bowman with a lot to say about this inflation backdrop. >> if they really want to give some sort of hawkish message this market is not listening. they want to rally on the disinflationary pivot regardless of the data it gets. fed chair powell yesterday coming out saying he's less confident in the disinflation narrative we are seeing near all-time highs in a massive rally in bonds. >> the consensus is overwhelming. i was going through the estimates. 68 estimates into the survey. 63 of them have put down 0.3 percent for core cpi. annmarie: we also have retail sales which a lot of people are saying might be more important because we get three point whatever it is on cpi. the fed needs to see consistency in that data but retail sales if they come in softer than we've seen consumer sentiments turning to drift lower. potentially that's one piece of data that shows maybe at some point the fed will be ready for that. jonathan: we have had some contradictory signals for the u.s. consumer. i was catching up with brian moynihan. his view is clear, the consumer
retail sales neel kashkari, nikki bowman with a lot to say about this inflation backdrop. >> if they really want to give some sort of hawkish message this market is not listening. they want to rally on the disinflationary pivot regardless of the data it gets. fed chair powell yesterday coming out saying he's less confident in the disinflation narrative we are seeing near all-time highs in a massive rally in bonds. >> the consensus is overwhelming. i was going through the estimates....
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May 28, 2024
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minneapolis fed president neel kashkari saying u.s. consumers in the housing market have remained resilient, no reason to rush to cut rates. apollo chief economist torsten slok joins us now. we're talking about the idea, torsten, we haven't seen weakness in pricing on rentals and home pricing and plays a factor in why inflation hasn't come all the way back down to 2% is it getting worse? what's happening. >> i agree let's not forget that housing has a way of roughly -- weight of roughly 35 to 40% depending on how you measure it and housing is a critical component for the fed when they try to achieve the 2% inflation target. i should say for housing it really is the case that we have both supply and demand is still quite supported for the housing market overall supply quite weak, all measures -- [ inaudible ] across the board and across the country and on the demand side despite the textbook would have predicted when mortgage rates go up in the range of 7 to 8%, they have come down a little bit more recently and that should have been cr
minneapolis fed president neel kashkari saying u.s. consumers in the housing market have remained resilient, no reason to rush to cut rates. apollo chief economist torsten slok joins us now. we're talking about the idea, torsten, we haven't seen weakness in pricing on rentals and home pricing and plays a factor in why inflation hasn't come all the way back down to 2% is it getting worse? what's happening. >> i agree let's not forget that housing has a way of roughly -- weight of roughly...
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May 9, 2024
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a big interview tomorrow we have two, count 'em two, neel kashkari on the left, austan goolsbee on the right. that's at 2:00 p.m. eastern time tomorrow we know how comments from fed speakers like these can sometimes move markets it's something to watch for sure there. an exclusive interview at 2:00 p.m. eastern time. >>> now, what's happening today with bond yields, rick santelli in chicago has more of that story. >> yes, dom, a double whammy no the market one, initial jobless claims going back to august they popped at 231,000, the highest level since the end of august let's call it an eight-month pop. when that happened, one of the things, one of the markets paying close attention was the dollar index looked the way it fell as initial claims popped. and, if we look at what's going on with respect to the dollar index, well, let's look at other majors even though the dollar was down here, it was the yen that was down against the dollar, the pound and, of course, the euro currency you see that chart starting at the beginning of the month of april, and how, after testing the 160 level, al
a big interview tomorrow we have two, count 'em two, neel kashkari on the left, austan goolsbee on the right. that's at 2:00 p.m. eastern time tomorrow we know how comments from fed speakers like these can sometimes move markets it's something to watch for sure there. an exclusive interview at 2:00 p.m. eastern time. >>> now, what's happening today with bond yields, rick santelli in chicago has more of that story. >> yes, dom, a double whammy no the market one, initial jobless...
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May 9, 2024
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don't miss steve's exclusive conversation with neel kashkari, and chicago fed's austan goolsbee, that's tomorrow at 2:00 p.m. from chicago. >>> there's a birds eye viewer from steve. starbucks shocked the street with a surprise drop in seam-store sales, leading to the stock's biggest post-earnings drop since 2000. mcdonald's missed on the bottom line, saying they're adopting a street fighting mentality. different story for uber and l lyft. lyft, and airbnb gave weaker guidance. planet fitness, there's a mover today, disappointing guidance after missing estimates, the company citing a shift? customer focus to get this, savings, and to covid concerns. that stock is up 8%, though. worth noting, lifetime fitness posted strong membership growth, though that is customer case older and more affluent. >>> our next guest is joel r rambolt. >> hi. explain to us what you think is going on here with so much mixed commentary. >> every cad gory of retail is saying inflation grepressures. we're seeing from well-known facts around fuel and driver shortages. all of that puts upward pressure. we're contr
don't miss steve's exclusive conversation with neel kashkari, and chicago fed's austan goolsbee, that's tomorrow at 2:00 p.m. from chicago. >>> there's a birds eye viewer from steve. starbucks shocked the street with a surprise drop in seam-store sales, leading to the stock's biggest post-earnings drop since 2000. mcdonald's missed on the bottom line, saying they're adopting a street fighting mentality. different story for uber and l lyft. lyft, and airbnb gave weaker guidance. planet...
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May 7, 2024
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we have another fed speaker speaking today neel kashkari. is that a market mover or have we finally decided it will take longer to cut rates and do you think investors are more focused on the earnings which are surprisingly strong? >> yeah. if i was an investor, i would focus on earnings right now. we are going print to print. from one to another in terms of the market rallying or selling off a little bit we'll see if his words have any bearing on the market. when we see the fed speak, whether kashkari or jp, there is some selling off here. sometimes maybe the fed shouldn't speak and let the market do its thing. >> jp. you have nicknames i like that. thank you very much. >>> coming up on "worldwide exchange," more to come including the one word that investors have to know today. >>> first, a big day for money movers in london annd wall street shares of lucid losing juice and a blowout report from ubs. >>> later, more on what to expect from apple at the event being held lerat today more still ahead on "worldwide exchange." stay with us meets
we have another fed speaker speaking today neel kashkari. is that a market mover or have we finally decided it will take longer to cut rates and do you think investors are more focused on the earnings which are surprisingly strong? >> yeah. if i was an investor, i would focus on earnings right now. we are going print to print. from one to another in terms of the market rallying or selling off a little bit we'll see if his words have any bearing on the market. when we see the fed speak,...
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May 13, 2024
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kashkari likes to rile things up. he doesn't vote, by the way. we have gone up three weeks in a row. we have done down three weeks in a row. we broke above the 50-day moving average. will this be the catalyst? we have seen a dichotomy of spending watch home depot and walmart comeing into today this is the pivot point. can we break higher or is the rally into it and the cpi cooling off? we'll see. >> the anticipation is which sector >> we are 10% up in the s&p and talking new highs, you would have looked at me like i was crazy. y utilities have been on a heck of a run. can it continue? there are three stocks in that sector that look like they are poised to go over the long term. i like the southern and nextera. i know american water has been leading. tlas po those are power plays. that is different within a.i. spin >> jay woods, thank you very much keep it here "squawk box" is coming up next market action is muted see you tomorrow >>> good morning openai holding a live stream product event today. we will tell you what
kashkari likes to rile things up. he doesn't vote, by the way. we have gone up three weeks in a row. we have done down three weeks in a row. we broke above the 50-day moving average. will this be the catalyst? we have seen a dichotomy of spending watch home depot and walmart comeing into today this is the pivot point. can we break higher or is the rally into it and the cpi cooling off? we'll see. >> the anticipation is which sector >> we are 10% up in the s&p and talking new...
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May 9, 2024
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we had neel kashkari talking earlier this week saying maybe a hike is on the table >> i think that's very improbable i think the fed chair did a good job last week and putting fears over additional rate increases to bed there is not a possibility of rate cuts until july nothing is going to change here and unlikely to happen before september at best. there is no earnings to report for another two months there is no catalyst pushing beyond the fed speak i don't think there is a lot that will change between now and maybe the back half of the summer i think we're in a good spot right now as long as nothing unforeseen jumps out >> i want to bounce something off you, malcolm i got data from morning star the correlation of stocks and treasuries at the highest level since 1997 how are you thinking about asset allocation in your portfolio >> i think it's good in the sense that equities and fixed income have started to uncouple and move in opposite directions. it is unfortunate we are starting to look at a similar situation to 2022 where anything was moving and anything moving was moving in th
we had neel kashkari talking earlier this week saying maybe a hike is on the table >> i think that's very improbable i think the fed chair did a good job last week and putting fears over additional rate increases to bed there is not a possibility of rate cuts until july nothing is going to change here and unlikely to happen before september at best. there is no earnings to report for another two months there is no catalyst pushing beyond the fed speak i don't think there is a lot that...
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May 10, 2024
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kashkari and austan goolsbee. kashkari and goolsbee will sit down with cnbc on power lunch at 2:00 p.m. and employees at apple will vote today to see if it will become the third unionized site. >>> let's get another check on the trading day with another look at gains. futures are higher across the board. the dow is pulling back a bit. it would open up 145 points higher at the open small caps are showing sciences of strengths up 2% this week and on pace for the third positive week in a row. the next guest says the momentum is far from over joining us now is amy zhang fro alger. you are seeing momentum with the small caps what are you seeing? it is 2% or 3% with small caps for the year, those small caps and mid-caps are flat. >> exactly good morning, frank. great to see you you know, as we talked about it last time, the gap is still very large currently with the s&p and the small-cap index is growing at a 23% discount to the s&p 500. historically in the last 20 years, the average premium is about 13% to 14% i think
kashkari and austan goolsbee. kashkari and goolsbee will sit down with cnbc on power lunch at 2:00 p.m. and employees at apple will vote today to see if it will become the third unionized site. >>> let's get another check on the trading day with another look at gains. futures are higher across the board. the dow is pulling back a bit. it would open up 145 points higher at the open small caps are showing sciences of strengths up 2% this week and on pace for the third positive week in a...
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May 8, 2024
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minneapolis fed president neel kashkari said interest rates will stay at the same rate for the current time, adding more data is needed kashkari did not rule out an inflation hike if things staal. >>> riksbank has cut key interest rates by 25 bps to 3.75%. the ceo of italy's largest bank spoke to cnbc earlier and gave his take on the divergence between europe and the u.s. >> it's a matter of time it's fair to say europe and the united states are in a completely different position. you have the very important election in november and the trend of the real economy is very good. usa, yurngs probably we need to have some boost in terms of acceleration of grouchlkt so i think this could maintain the situation of the possible diversion, but this could be six months no more than this. if it's more than this, it could create problems especially on the foreign change of the export companies. but in a sense, i think for the end of the year, there will be a conversion on the type of approach. >> now we'll take a look at the macro picture of the markets we're joined by emma wall. good morning. >>
minneapolis fed president neel kashkari said interest rates will stay at the same rate for the current time, adding more data is needed kashkari did not rule out an inflation hike if things staal. >>> riksbank has cut key interest rates by 25 bps to 3.75%. the ceo of italy's largest bank spoke to cnbc earlier and gave his take on the divergence between europe and the u.s. >> it's a matter of time it's fair to say europe and the united states are in a completely different...
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May 10, 2024
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we're going to talk to neel kashkari and he has written an essay i recommend everyone read. what is the benchmark for how tight the fed is the benchmark for where the fed should be at neutral for a bun of reasons he mentions in there. one of the interesting ideas out there. if you look at that, it had come up quite a bit and had eased off recently what this whole debate, is the fed restrictive enough and how do we gauge it i think it's on the minds of a lot of investors >> good stuff. we will look forward to those interviews and will talk to you later, steve liesman, our senior economics reporter >>> more moves i still want to get to as we talk about tech and well-known names netflix, you bought more of it, mr. weiss. why did you do that? >> you have to buy this one when it's down. i wouldn't say they stand alone, but clearly they're the leader of the pack. they're the leader in the pack in that they basically created the space, number one. and, number two, they have the most content you've seen others fall by the wayside whether it's amazon or some of the others in the news
we're going to talk to neel kashkari and he has written an essay i recommend everyone read. what is the benchmark for how tight the fed is the benchmark for where the fed should be at neutral for a bun of reasons he mentions in there. one of the interesting ideas out there. if you look at that, it had come up quite a bit and had eased off recently what this whole debate, is the fed restrictive enough and how do we gauge it i think it's on the minds of a lot of investors >> good stuff. we...
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May 28, 2024
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and the fed's neel kashkari. and number of speakers from the ecb and federal reserve to tune into. today is the day we get to eplus one when it comes to trading. a major overhaul bringing a back to the 1920's in terms of when you resolve these trades. just one day. good have consequences for foreign investors in u.s. assets. we continue to bring you the details on that story. a major one for these u.s. markets. coming up, on the politics of emerging markets in south africa, citizens enjoying a rare streak of uninterrupted electricity. yes, it has been rare for citizens of south africa. we will take a look at why this has drawn suspicion ahead of wednesday's crucial election for that country. this is bloomberg. ♪ tom: welcome back to bloomberg daybreak: europe. happy tuesday. south africa is enjoying a rare streak of an interrupted electricity before wednesday's general election. the ruling anc has been successful in keeping the lights on for more than 50 days with this is drawing more suspicion then praise. jennifer reports from cape town. jennifer: south africans have been used
and the fed's neel kashkari. and number of speakers from the ecb and federal reserve to tune into. today is the day we get to eplus one when it comes to trading. a major overhaul bringing a back to the 1920's in terms of when you resolve these trades. just one day. good have consequences for foreign investors in u.s. assets. we continue to bring you the details on that story. a major one for these u.s. markets. coming up, on the politics of emerging markets in south africa, citizens enjoying a...
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May 30, 2024
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williams had mentioned it about a month ago and we've heard from rafael bostic and neel kashkari suggesting that maybe our star has come up a little bit. the problem with our star is you cannot measure it in real time. they are just kind of making assumptions based on the strength of the economy and the level of inflation at this point. it does suggest that when they start cutting rates, they will not go down as far as perhaps some people think or hope area we will not be going back to zero rates but they will be flexible as they see how the economy reacts to these things. the question is not just when did they cut rates but they've also added the idea if they need to raise rates. bill dudley today suggested that their version of our star is woefully short in the rates should be significantly higher but the fed doesn't look like it's ready to go where bill would go at this point. vonnie: not going back to zero rates anytime soon for sure. i guess it's good to have somebody putting fire on the other side of the argument. another fomc meeting in about two weeks time. thank you so much for tha
williams had mentioned it about a month ago and we've heard from rafael bostic and neel kashkari suggesting that maybe our star has come up a little bit. the problem with our star is you cannot measure it in real time. they are just kind of making assumptions based on the strength of the economy and the level of inflation at this point. it does suggest that when they start cutting rates, they will not go down as far as perhaps some people think or hope area we will not be going back to zero...
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May 31, 2024
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chris waller said the same thing as neel kashkari they all said kind of the same thing. we need a couple of months to make sure it is still going down. a big drop could have been a one-off that reverses and you don't want to be in a position to make a decision that you then have to reverse. they will wait. the big debate now seems to be, are we tight enough? laurie logan said last night we may not be. she joins that camp. the question is, do we need to raise rates or leave them where they are for longer? the majority of the committee is, leave them where they are. if we get numbers like we are expecting today, you can do that. jonathan: if you had bill dudley here, williams over there, and you had a roundtable, what would you ask them? michael: you could ask what bill sees as the reasons for why the neutral rate is higher and if they will be sustained. the second part of the question isn't is it higher, but does this last? is it a temporary thing because there are things in the economy that you do not want to overreact to? that would be the issue. john williams, you coul
chris waller said the same thing as neel kashkari they all said kind of the same thing. we need a couple of months to make sure it is still going down. a big drop could have been a one-off that reverses and you don't want to be in a position to make a decision that you then have to reverse. they will wait. the big debate now seems to be, are we tight enough? laurie logan said last night we may not be. she joins that camp. the question is, do we need to raise rates or leave them where they are...
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kashkari said what everybody is thinking, we're lucky to get one cut. maria: everything you laid out is what stephanie pomboy has been saying for some time. highlighting the crinks in the armor in the macro story. here she is last week on this program. >> this is the conundrum for the fed. the economy contrary to wall street's perception is not strong. what's driving the economy is nondiscretionary spending and within that 1q gdp n number whee the spending was on housing, healthcare and insurance. real disposable incomes rose half the pace of total real spending. so how are they sustaining this? consumers obviously as we know are drawing down savings and running up credit card debt just to keep up with the rising cost of everything which is why i guess powell feels like this inflation situation is really sticky and proving to be a little more challenging for them. you know, the journey from 9 to 3 was the easy part. getting from 3 to 2 is proving much harder than i think they expected it would be. maria: mario, that's why nancy lazar from piper sandler
kashkari said what everybody is thinking, we're lucky to get one cut. maria: everything you laid out is what stephanie pomboy has been saying for some time. highlighting the crinks in the armor in the macro story. here she is last week on this program. >> this is the conundrum for the fed. the economy contrary to wall street's perception is not strong. what's driving the economy is nondiscretionary spending and within that 1q gdp n number whee the spending was on housing, healthcare and...
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May 16, 2024
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he was -- neel kashkari said it is unknown terms of how much downturn pressure there was on the economy and tells me we need to sit here for a while longer. lisa: yesterday saying 6000, at what point does the fed getting away from the narrative and at this point the weakness is being dismissed. disinflation is baked in and it doesn't matter what fed officials say, the key question will be how much is it dependent on fed rate cuts at all or not a re-acceleration of inflation. jonathan: the fed chair has retained this faster cut rates regardless of what happens with economic data. the question we have is was it q or inflation data. it is not just about inflation but retail sales coming in softer than expected. in an hour, we will get the numbers. annmarie: we are seeing weakness in the retail sales number but in consumer sentiment. home depot softer. people starting to defer some of the big projects they want to take on. what are everyday americans at buying and not and are they stopping for the big ticket items. jonathan: wal-mart positive by 0.8%. june 27, september 10, abc. did we just
he was -- neel kashkari said it is unknown terms of how much downturn pressure there was on the economy and tells me we need to sit here for a while longer. lisa: yesterday saying 6000, at what point does the fed getting away from the narrative and at this point the weakness is being dismissed. disinflation is baked in and it doesn't matter what fed officials say, the key question will be how much is it dependent on fed rate cuts at all or not a re-acceleration of inflation. jonathan: the fed...
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May 10, 2024
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to sit them both down and get their views neel kashkari out with an important piece, an essay he wrote yesterday, that talked about his view on what the neutral rate is and how restrictive the federal reserve is that is the key question that everybody is talking about, is the fed at the right place to bring down inflation or the federal reserve in place where it needs to, i don't know, maybe go higher to attack the inflation problem or maybe bring it down a little bit here? >> steve, thank you. steve liesman, obviously, also coming up with some big interviews later in the day. >>> we are getting some indications on zeekr, that, of course, is the chinese ev maker going public today 23 to $25 a share is where we're at least seeing the early ask right now. obviously, went public, not, obviously, went public at 21, so it would be a nice move higher, in fact, if it maintained or even exceeded that level. >> 10, 15% kind of what you shoot for. >> the biggest gainer on the s&p this week, the biggest gainers, met her toledo with an 18% increase one big gainer today however vaccine maker novava
to sit them both down and get their views neel kashkari out with an important piece, an essay he wrote yesterday, that talked about his view on what the neutral rate is and how restrictive the federal reserve is that is the key question that everybody is talking about, is the fed at the right place to bring down inflation or the federal reserve in place where it needs to, i don't know, maybe go higher to attack the inflation problem or maybe bring it down a little bit here? >> steve,...
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May 10, 2024
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is that what it is >>> comingp, u neel kashkari and austan goolsbee. raising you was no bed of roses. are you getting me anything for mother's day? go to 1-800-flowers.com. oh my gosh! wow! gorgeous! i feel like royalty. thank you. 1-800-flowers.com. happy mother's day. happy mother's day! >>> good afternoon welcome to power lunch glad you could be with us. stocks losing steam. but dow still holding on to gain which is would make an eight
is that what it is >>> comingp, u neel kashkari and austan goolsbee. raising you was no bed of roses. are you getting me anything for mother's day? go to 1-800-flowers.com. oh my gosh! wow! gorgeous! i feel like royalty. thank you. 1-800-flowers.com. happy mother's day. happy mother's day! >>> good afternoon welcome to power lunch glad you could be with us. stocks losing steam. but dow still holding on to gain which is would make an eight
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coacolleagues will spe to neel kashkari and austan goolsbee today >>> coming up on the show, spain's economy minister criticizes bbva's hostile takeover bid for sabadell. nvsal have more on that coertion coming up next on cnbc smarter at every stage of your business. take full control of your brand with your own custom store. scale faster with tools that let you manage every sale from every channel. and sell more with the best converting checkout on the planet. a lot more. take your business to the next stage when you switch to shopify. ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com. when we started our business we were paying an arm and a leg for postage. i remember setting up shipstation. one or two clicks and everything was up and running.
coacolleagues will spe to neel kashkari and austan goolsbee today >>> coming up on the show, spain's economy minister criticizes bbva's hostile takeover bid for sabadell. nvsal have more on that coertion coming up next on cnbc smarter at every stage of your business. take full control of your brand with your own custom store. scale faster with tools that let you manage every sale from every channel. and sell more with the best converting checkout on the planet. a lot more. take your...
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actually one fed person, neel kashkari, the next move could be a higher rate but there is no question, there is not going to be rate cuts. now the only guy that may not know that, john, this is my last point, is joe biden. because joe biden has been hitting the fed to lower their target rate. people say trump interferes with the fed. joe biden is interfering with the fed but he will not get his wish, is he? >> i think joe biden actually needs to call janet yellen on the phone. she is meeting regularly with the fed chairman. larry: breakfast every friday. >> hey, what is he telling you? because he has got to be saying hey look, you got to get the president to stop saying we're going to cut interest rates. we're not going to cut interest rates. it is making him look foolish and out of touch with what is happening with the economy. every time he says it i think the american people say, that guy don't know what's happening in the economy. so therefore he doesn't know what is happening with me. larry: the media gives him a free pass, when trump had something to say about the fed, media wen
actually one fed person, neel kashkari, the next move could be a higher rate but there is no question, there is not going to be rate cuts. now the only guy that may not know that, john, this is my last point, is joe biden. because joe biden has been hitting the fed to lower their target rate. people say trump interferes with the fed. joe biden is interfering with the fed but he will not get his wish, is he? >> i think joe biden actually needs to call janet yellen on the phone. she is...
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May 30, 2024
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jonathan: neel kashkari seemingly moving in the direction. where are you at on the side of the debate? brian: you can project the next week what will happen to mortgage demand and confidence in these are the two canaries in the coal mine for interest rates. we are seeing it in the housing market and lower homebuilding activity from q1 to q2 will be incrementally lower gdp and downstream consumers will buy less stuff and fewer people are moving. those things you are relying on, lower interest rates helping the mortgage and stirring more consumer activity in the latter half of the year will not be here because of what we have seen rates to. lisa: haven't we seen this mortgage -- this market dead in the water with people staying in the same place and not moving because it is unaffordable. at what point have we seen this and the rest of the market is overwhelming that with inflationary pressure and resilience? brian: the consumer is slowing down. fed speakers are talking about inflation sticky and economy resilient but wage growth is slowing. wag
jonathan: neel kashkari seemingly moving in the direction. where are you at on the side of the debate? brian: you can project the next week what will happen to mortgage demand and confidence in these are the two canaries in the coal mine for interest rates. we are seeing it in the housing market and lower homebuilding activity from q1 to q2 will be incrementally lower gdp and downstream consumers will buy less stuff and fewer people are moving. those things you are relying on, lower interest...
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as a matter of fact, i don't think neel kashkari thinks that's a pocket, i think he's just saying if there is anything that really moves the needle in that direction, if inflation becomes not only sticky, but starts to lift to the upside, then maybe. and i think that's more of what he was trying to say. i think that's the very difficult thing about the fed, you've got to listen to a lot of how they actually phrase it and what they're saying. and i think in this particular if case he was just make a case for the idea that there could be a hike. i'm not saying that he thinks there is a hike in front of 'em. as a matter of fact, i think that would be extraordinary, to see that actually occur. so i don't see that, but i think he at least wanted to note out that it's not an impossibility that it actually could exist. maria: yeah. and he's not alone. jim grant said the same thing on this program back in march, you know? if look, we're looking at a situation where we don't even know if the economy has seen the full impact of the 11 rate hike so far. >> right. maria: pete, it's always great
as a matter of fact, i don't think neel kashkari thinks that's a pocket, i think he's just saying if there is anything that really moves the needle in that direction, if inflation becomes not only sticky, but starts to lift to the upside, then maybe. and i think that's more of what he was trying to say. i think that's the very difficult thing about the fed, you've got to listen to a lot of how they actually phrase it and what they're saying. and i think in this particular if case he was just...
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May 16, 2024
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lisa: neel kashkari said maybe they are not restrictive enough and we should put two feet on the pedal in terms of the brakes. do you think they are not restrictive enough and they might just want to hold even through the year and not wait until 2025? >> it's possible but i don't agree with him. he's in the minority and it seems there is enough officials out there jay powell included that's restrictive enough. there is a difference between fed policy and actual financial conditions. when we continued see stocks rising credit spreads low, from a wealth of fact, maybe things aren't as tight as some would think. lisa: this is the psychology portion of the thursday morning show. it's therapy thursday as people tried to grapple with getting too sanguine on the soft landing. we hear an angst about being with this consensus. do you feel that with your colleagues that people feel things are ok but they feel reluctant to say it because it feels wrong to lean in to the consensus? >> we've been pretty optimistic for a while and pretty comfortable. i think people are careful because this is a very
lisa: neel kashkari said maybe they are not restrictive enough and we should put two feet on the pedal in terms of the brakes. do you think they are not restrictive enough and they might just want to hold even through the year and not wait until 2025? >> it's possible but i don't agree with him. he's in the minority and it seems there is enough officials out there jay powell included that's restrictive enough. there is a difference between fed policy and actual financial conditions. when...
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May 29, 2024
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stuart: neel kashkari -- >> yeah, he was over or in london. stuart: yes, he was. he said rate hikes are not off the a table. >> no. and this is a narrative -- he's one of the best at a putting out what the fed is on a group think basis doing, and i think he's right. i think there's a 50-50 chance that they raise rates. anyways, this is the new normal, and these rates -- we could see a 55 handle -- 5 handle on that pretty soon. stuart you'd see a market that a really falls. >> yeah. but we've had great earnings or particularly on tech, we really have. the economy's held in there. it's a balancing act right now. stuart: got it. kevin, you stay with me for the hour, thank you very much, indeed. lauren, let's take a look at apple today. it's up -- lauren: yeah. they were up 1% just moments ag- stuart: is it still more if valuable than nvidia? lauren: yes, apple is more valuable. bank of america says apple is set open from it a, quote, once in a a decade phone upgrade cycle driven by the a.i. smartphone idea. bank of america is calling them in telephones you have apple
stuart: neel kashkari -- >> yeah, he was over or in london. stuart: yes, he was. he said rate hikes are not off the a table. >> no. and this is a narrative -- he's one of the best at a putting out what the fed is on a group think basis doing, and i think he's right. i think there's a 50-50 chance that they raise rates. anyways, this is the new normal, and these rates -- we could see a 55 handle -- 5 handle on that pretty soon. stuart you'd see a market that a really falls. >>...
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May 17, 2024
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neel kashkari especially at the minneapolis fed. it comes down to this, what is a neutral fed funds rate, one that's neither if tight nor easy? charles: right. they think they know what it is, but with he's suggesting if it's higher than we think it is, then policy's not as restriskt as we think it is. and the evidence of that, he says, is we've still got rapid gdp and rapid job growth. that's not a restrictive economy. charles: jim bianco posted someone buying a steak for $1,000 at the fountain bleu the other day. [laughter] >> wasn't me, i promise. charles: real quick, i'm not an economist but at the very beginning of this, the rate cuts didn't match the emergency. i thought the fed should have been far more aggressive initially. i know all of this is hindsight. the only reason i bring it up is i'm still concerned, chris, that such a large portion of this economy, they've run out of money, and the aggregate's still okay because you've got a tiny portion that hasn't. and all of a sudden we won't just have a ground rule, we could se
neel kashkari especially at the minneapolis fed. it comes down to this, what is a neutral fed funds rate, one that's neither if tight nor easy? charles: right. they think they know what it is, but with he's suggesting if it's higher than we think it is, then policy's not as restriskt as we think it is. and the evidence of that, he says, is we've still got rapid gdp and rapid job growth. that's not a restrictive economy. charles: jim bianco posted someone buying a steak for $1,000 at the...
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May 31, 2024
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we talk about, and there are fed officials, neel kashkari, no a risk of hiking there is all things are on the table and also a risk of cutting 75, 100 basis points before the end of this year if everything goes south. all risks have to be put on the table. that's not my baseline but we aren't talking about that. w we're acting like good data is bad. in the economy, that's giving the fed time they're rolling the dice on american workers and consumers by taking that, we're going to wait we're going to wait. more and more inflation data >> claudia, seems like -- i don't see the dual mandate coming into play right now we hear the president say 50 year lows on unemployment all the time where is the fear that you need to start looking at that, at that part of the dual mandate? instead of the one that is still present? lonhee claudia, go ahead. >> just meaners we had our first -- sub200,000 payroll print last month unemployment rate will hit 4% soon, and if we continue to drift up, and above all else chair powell very clear the risks are balanced what that means looking at potential upside su
we talk about, and there are fed officials, neel kashkari, no a risk of hiking there is all things are on the table and also a risk of cutting 75, 100 basis points before the end of this year if everything goes south. all risks have to be put on the table. that's not my baseline but we aren't talking about that. w we're acting like good data is bad. in the economy, that's giving the fed time they're rolling the dice on american workers and consumers by taking that, we're going to wait we're...
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May 7, 2024
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jonathan: investors await a speech from minneapolis that president neel kashkari later on today. the u.s. economy isn't moving back or running in place, but simply in overtime in a game in which cash remains king. two cuts are likely the most we will get this year. deborah, lisa went there. what would it take to unlock that money piled up in money market funds what are we waiting for? >> i think at this point it takes a cut by the fed as was mentioned in that earlier clip. when we began the year, i think our peak was six nine cuts expected in 2024, and we are down to something that is between 1.5 and two at this one. nobody has faith in when that cut is going to happen. so if you bought into that story back in january and you started to extend, you would've lost 5.5% in yields for money market funds and gone into something that was lesser in return for a time that at this point is now up to half a year. i think the actual rate cut has to occur before the change from the safe money market cash return type of trade takes a backseat for some investors. i think from a retail standpoi
jonathan: investors await a speech from minneapolis that president neel kashkari later on today. the u.s. economy isn't moving back or running in place, but simply in overtime in a game in which cash remains king. two cuts are likely the most we will get this year. deborah, lisa went there. what would it take to unlock that money piled up in money market funds what are we waiting for? >> i think at this point it takes a cut by the fed as was mentioned in that earlier clip. when we began...
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May 9, 2024
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kashkari and austen goolsbee. a two-for tomorrow. >> what's goolsbee, going to minneapolis? >> kashkari invite d goolsbee t speak and asked me to moderate i'll talk to you, but you come on cnbc opinio a nice chat. >> a lot of leaks. >> kashkari didn't take the hike -- >> i don't think hike is off the table. a couple more bad months got to go. a smart guy coming up to talk about that stuff. >> we do >>> when we return, in fact, chairman glenn hutchins joins us to talk about the economy, fed, crypto oh, yeah, wants to talk about the celtics, too guess why? stay tuned you're watching "squawk box. this is cnbc. >>> welcome back our next guest is onset talking about the economy, the fed, technology and the nba playoff ares welcome north island co-founder glenn hutchins. >> look how happy he is, by the way. >> happy to see you guys too long a time. >> because you're winning. that's why. >> a big, fat ring on your finger. >> wearing that. championship ring 2008 room on my hand for others. >> get that from putin >> no. bu
kashkari and austen goolsbee. a two-for tomorrow. >> what's goolsbee, going to minneapolis? >> kashkari invite d goolsbee t speak and asked me to moderate i'll talk to you, but you come on cnbc opinio a nice chat. >> a lot of leaks. >> kashkari didn't take the hike -- >> i don't think hike is off the table. a couple more bad months got to go. a smart guy coming up to talk about that stuff. >> we do >>> when we return, in fact, chairman glenn hutchins...
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May 29, 2024
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. >>> meantime neel kashkari saying he wants to see many more months of positive data before they cut rates. i want to bring in a former fed governor. led the reforms in the wake of the financial crisis. now harvard law school professor. good morning to you. a new piece out for brookings hutchins center saying reconsidering the regulatory uses of stress testing should be something to be considered. dan, it's nice to see you. what do you think the chances for a rate hike, now that that seems to be on at least mr. kashkari's table? >> well, andrew, i actually looked a little bit more closely at governor waller's speech last week. i thought what he did in that speech, very good speech, was two things. one, i think he pushed back some on the idea there's a significant chance of a rate increase and the second thing he did was to i think reflect the sort of the broad view within the fed that they are going to need to see some more progress on inflation absent something pretty bad happening in the labor market and i would draw your attention to that second part of it. governor waller said, y
. >>> meantime neel kashkari saying he wants to see many more months of positive data before they cut rates. i want to bring in a former fed governor. led the reforms in the wake of the financial crisis. now harvard law school professor. good morning to you. a new piece out for brookings hutchins center saying reconsidering the regulatory uses of stress testing should be something to be considered. dan, it's nice to see you. what do you think the chances for a rate hike, now that that...
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May 30, 2024
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this came after neel kashkari said yesterday on cnbc that he is looking at this and it will take several months of weaker inflation data before he would look to hike rates. we will keep an eye on that. yesterday, there was a se seven-year treasury that did not go well. they had to look at higher yoo yields across the board. those are the stories adding up. >>> activist investor nelson peltz selling his entire stake in disney. scott wapner reported yesterday that the selling price was $120 per share and netting $1 billion on the exit. this exit came after trian partners lost the proxy battle with disney. here's peltz on cnbc after that defeat. >> i hope bob can keep his promises. i hope they can do all the things they assured us they were going to do and we'll only watch and wait. if they do it, they won't hear from me again. if they don't, jim, you may be seeing me on your show next year doing this same thing again. >> so nelson is gone fornow. i still think if the price were to come down and he thought there was another entry point -- >> it has come down. >> he could come. the question
this came after neel kashkari said yesterday on cnbc that he is looking at this and it will take several months of weaker inflation data before he would look to hike rates. we will keep an eye on that. yesterday, there was a se seven-year treasury that did not go well. they had to look at higher yoo yields across the board. those are the stories adding up. >>> activist investor nelson peltz selling his entire stake in disney. scott wapner reported yesterday that the selling price was...