u.s. stocks closing decidedly higher. the dollar defined and an oil rally. joe: but "what'd you miss?" scarlet: the fed leaves rates unchanged but schedules -- but signals a right that rate hike is likely. joe: and we talked to andrew 11 -- levin. we talk about what is at stake for the u.s. and german elections. ♪ shot up fortraight the market as we begin the market minute and equities certainly credit when you look at the major indexes after the fed press conference began, it was a straight line up and major industries are closing up more than 150 points. and gains for the nasdaq and s&p 500, the highest for them since

september 8. joe: everything was up. not just equities, this is the mere image of a couple of weeks ago. everything is green pretty much across the board. matt: the majors went up for sure. you can see the gains of more than 1%. we have not seen that for a couple of days. i want to show you what brought up the markets around the world. here in the u.s., energy stocks were the biggest gainers spirit you can see that rose more than -- gainers. he can see that rose more than 2%. orasia, the financials arising up more than 2%. because of what the bank of japan dividend we will talk about that. people are saying they wanted to help the banks and they were up front about it. maybe that is a blueprint for the ecb and maybe the fed, but for europe it seems more important. and winners and losers on the s&p 500. we talked about microsoft and

fedex yesterday. fedex took some time yesterday, shooting up today. you can see enclosed -- it closed up 7%. and microsoft, cuss -- cost are concerning investors. one stock i want to point out, harley davidson. you will see this on the bloomberg. it was up 60% year-to-date, year to date,16% going back to doing there was a possible buyout conversation. that was pushing the stock more. about 2%-2% higher. action, a lot of starting with the bank of japan early this morning. that is what kicked off the day. this is an interesting chart of the japanese 10 year yield. you can see it shooting up the positive territory briefly right after the announcement, then coming down and ending in

negative. we are looking at yield curve targeting and the idea that the fed -- excuse me, the boj want to target that end. and that is the japanese 10 year right there. let's look at the japanese spread. a lot of talk about the boj wanting a deeper spread, it has been steepening since july. and that allows the financial systems to make more money. endhe boj want a deep spread, they did not get it today. it is coming back from the last few days. and now the u.s., we had plenty of action. it two-year yields -- the two-year yields unchanged. it seems to be sensitive to fed policy. the 10 year yield declining meaningfully. it was higher earlier in the morning after the boj, at 1.7. a flattening of the curve right

there. and looking at the spread in the u.s., looking similar to the bank of japan chart. it was steepening in recent weeks, but recently coming back down to flat. that is the big trend, the microtrends of how the government bond markets reacted today. scarlet: and in normal times, we would look at the dollar and yen in reaction to the fed decision. the yen weekend -- weakened and a shift in policy. then you see it rebounded. the dollar was strengthening. declining.dollar and that has been gradual throughout the day. and then again rebounding. looking stronger, moving two big numbers against the dollar to a three-week high. and a couple of standout currencies. do, borrowinghey the dollars cheaply.

the rand is not a one-month high -- is now at a one-month high. they were using it to pay local shareholders for the acquisition of acb miller. and uber getting a lift from higher oil prices. and a quick look at commodities. everything was green today. and commodities are no exception. crude oil a good day on the news that opec is going to have an official meeting coming up. and the precious metals doing well, silver tends to do well during this risk on exuberance. so silver is outperforming the other metals. scarlet: those are the market minutes. matt: let's get to the fed decision. a divided central-bank holding fire for now, signaling that a rate hike this year is still likely. janet yellen saying that it pick up in growth and labor gains

have strengthened the case. and, three of the members dissented from the decision, saying that the fed should move now and the dot plot shows officials have scaled back the rate hike expectations for 2017. janet yellen spoke shortly after the decision was announced. janet yellen: economic growth which was subdued during the beginning of the year, has picked up. household spending continues to be the key source for the growth. spending has been supported by solid increases in household income as well as by relatively high levels of consumer sentiment and wealth. matt: joining us is the chief international economist for -- bing. thank you for coming. , do yousk your reaction think we got what we expected? >> i think the breaking news is the dissent.

we have been interpreting all kinds of things, members moving in one direction, but today was the vote that matter. and the fact that three of the members -- matt: didn't we know that? each of them had given a speech in the past few weeks indicating that that was going to happen. >> previously we had the speeches where they did not decide, so now the voting is making a huge difference. and it shows expectations for the future, because now part of the committee has said i have been loyal, but now i feel like it is time to go. and i think this is in a port development. scarlet: i wonder if we are over interpreting the significance of the dissent? the bank of england, dissents are expected. it does not necessarily change the outcome. do we expect as there are more defense, the chair will be's weighted -- the chair will be swayed? >> there have been few dissents

over the few years and leadership has been able to defense -- to convince people not to dissent. it just because you feel like a on the day of the meeting. in --u are saying -- see seeing a group of folks and i do not want this anymore and they want the rate hike to go higher. it is not a split as a said, but it shows that anybody that doubts, this is indeed where we are going. joe: the market is generally expect -- skeptical like these meetings are alive. and people are skeptical that the fed does not take politics into account. , politicsair said plays nothing into this, the election does not matter. market pricing is added to a 1% chance -- 21% chance for a november rate hike? should be higher?

>> the market is underestimating the likelihood. the thing about it, if three members today say they want to hike not, why should they wait one meeting and another? the risk is you will have another member and then a really terrible situation, because we have not seen this. to your question, i think the chances of a november hike are higher. i still think december is likely, but i think she was adamant today about saying that the election does not matter. and that is a very strong signal that she is trying to say, that the meetings are live and she is trying to make sure that -- in that direction. matt: a quick look at the bloomberg, the next meeting is only a couple of days before the election. and everybody is assuming that that is why they are not moving. but why should it make a difference? about got a good question

that. she basically said, we do not see valuations anywhere really, so her confusion is -- if we continue to see this, the unemployment looking good, more signs of upward trend, those measures and more broadly the inflation is trending up, all of that suggests we can check off the mandates, which means it is time to go. joe: in my of the three dissents, the center of gravity may be moving in the more hawkish direction. listening to janet yellen, she did not sound caucus. as she was talking about the unappointed rate and rarest measures of utilization actually have been approved for a wild, but she said there was more room to go and we are not there for inflation. listening to her thinking about the press conference, where do you think she is? >> i think to try to tiptoe around the different views, but

if you read the statement, that was read to be hawkish. in that sense, there are different signals the market must interpret. is she trying to say, there were different views on the committee and i mean -- meant to make sure that it represented the different views. i think the statement is sending a strong signal about, we worry about these risks, we worry about every thing from brexit to china, to the referendum in italy and other things could be a risk but generally speaking it sounds like they feel comfortable about the economy. scarlet: one last question on the bank of japan. of course, they are shifting focus from the monetary basis to the yield curve. does this increase the chances of the boj reaching the inflation target? they said they are willing to go past the target, but does that shift do it? >> there are chances it could happen. the most interesting thing, there are a number of papers

from 10 years ago, were they listed out the different options you have in the situation and one option on the list, targeting long-term interest rates. nobody else has done that. and now the bank of japan has opened that door. you do not want the ages rates to go up too much -- interest rates to go up too much, or down too much. so there are a number of issues that go into it. we have opened a new chapter in monetary policy, mainly the point in terms of what of the options for the central banks that want to try different things. will it work? it remains to be seen. so far the market reaction unfortunately has not been on their side. matt: thank you for joining us. suchpreciate your time on a busy day. scarlet: coming up, it into -- and your love and -- andrew

will be joining us to give us his interpretation of what the fed decided and the importance of the dot plot. this is bloomberg. ♪

♪ i am mark crumpton. president obama is promoting trade and investment between the united states and africa. the president said progress in africa is also important to security and prosperity around the world. he made his comments today at the u.s. africa business for him in new york city. >> africa is on the move. home to some of the fastest growing economies in the world and the middle class is projected to grow to more than one billion customers. forum is for him is --

cohesive by bloomberg philanthropies, the parent company of bloomberg news. the other clinton's communications character is -- a director is apparent for the different trumps that could appear the debate. donald trump could be aggressive or malay back. they meet for the highly anticipated first debate on monday night in new york. they would not reveal who would be portraying donald trump during the practice. mr. trump says he plans to add nine additional names to his list of potential supreme court nominees. edit thehat he would list from 11 to 20 names. and this after the white house charged at either the white -- russian warplanes are u.s. warplanes attacked the convoy. 20 people were killed, and other

damaging blow to an already shaky cease-fire. the kremlin has denied response ability. -- responsibility. global news 24 hours a day, powered by more than 2600 journalists in over wanted to 20 countries. i am mark crumpton, this is bloomberg. back to you. scarlet: a divided said left the policy rate unchanged for six straight meetings, saying they will wait for more evidence of progress toward their goals. they signaled that an increase is likely by the end of the year given the strengthening economy. >> economic growth which was subdued at the beginning of the year, seems to have picked up. household spending continues to be the source of that growth. spending has been supported by solid increases in household income, as well as by relatively high consumer sentiment and wealth. scarlet: let's get a perspective from somebody that was an advisor to the president and the vice chair janet yellen.

andrew levin is the creator of the famed. plot and he joins us from new hampshire. let's talk about the. plot. we know that the fed officials lowered the forecast for where the interest rates are heading and they have lowered the projection for inflation and gdp. what did you make of what they have assessed? is it feasible? they are still looking for inflation to rise and where is the inflation going to come from if growth is coming down? andrew: i would like to think in terms of alternative scenarios, one of them which i think they have in mind for the baseline forecast is the employment rate will come down further, the wage growth will pick up more than has. and that will feed through two core inflation and then it will head closer to the 2% target that the fed wants to achieve. there is an alternative, it is

important to keep in mind, that inflation has been around 1.5% and core inflation around 1.5% for the last four years in a row. even as an appointment is coming down. so there is a scenario where that is the picture again next year. i think when you look at the market forecast, the markets have been thinking all along that the pace of tightening would be very glacial. and it is increasingly looking like the markets got it right and to the fed was over optimistic. andrew: let me ask about the -- matt: let me ask about the fed and the mechanics of it. the previous guest said he was surprised that there was dissent, even though those members were hawkish in their speeches, even that they there'd that a day or two dissents was surprising. eight out of 12 regional presidents put in for a decrease

in july, so he -- increase in july, said he takes that as a sign that there are maybe eight hawkish votes, maybe even nine. so do you think it is possible that a lot of members withhold dissent for political reasons, or out of respect to the chair? andrew: keep in mind that the federal reserve act -- the federal reserve has a rotating system for the voters and the board members from d.c. vote at every meeting. the president votes at every meeting and everybody else rotates every 2-3 years. when you are counting the eighth federal reserve bank presidents that recommended the rates, many of those people are not voters. the key today was that there were three dissents, three federal bank presidents that said they thought they should have hiked today. but i think what is notable is

that terry yellen succeeded -- succeeded in keeping all the board members from d.c. on her side. they are the ones that vote every meeting. and she managed to sustain consensus among those five and the president of the new york fed and one of the other regional fed presidents. she seemed pleased today and i think it is healthy to have a good debate, just like the supreme court there will be times where there is a close outcome that is a good in the sense of demonstrating that there is real debate going on within the federal reserve committee. scarlet: stay with us, because we will have more discussion on the decision. andrew levin, former special advisor to the fed. this is bloomberg. ♪

♪ oe: "what'd you miss?" we are back with andrew levin, a special advisor to the former fed champion -- chair. fedlet: with a more divided , what is data dependent now mean versus last year when there was more consensus with what the fed did? has the definition changed? andrew: i think it is clear from the remarks today that they are heading toward another rate hike. i think if you look at last year, we went through the same sequence. they want to be careful and to deliver, they do not want to

lurch or move suddenly, they do not want to take the market by surprise. happen this will fall, if there are not dramatic changes in the data, that at the november meeting they will not hike my but they will issue a more clear statement like they did last november saying something like, at a very next meeting we will be carefully considering a rate hike. as they did last year. and that will set up the markets to understand as we get into late november and early december, that the probability of a rate hike moves to 70%, 80%, so that by the time they do the rate hike in december there is no surprise. joe: of course the fed was not the only major central bank to go today, the bank of japan made headlines. wasinnovations, there explicit aiming at the rate for

the long end and a willingness to let the inflation over should. people talk about how japan's economic situation may be the future for central banks and economies for europe and the u.s. has the boj charted new toolsories and told -- that the fed should consider down the road? andrew: sooner than that, i think exactly the lessons that the governor emphasized in her speech 10 days ago was that the lessons from japan are lessons that are relevant to the fed today. u.s.xtent to which the could get into a situation where they have a 2% target, but it is struggling to push inflation upward and is struggling to gain credibility with markets and wage and price setters, and inflation continues to fall short year after year.

i think the federal reserve has a clear target of 2%, janet yellen emphasized they are fully committed to achieving that. and i think achieving it could easily mean that they follow a policy where they have some modest overshooting and i do not think they should be scared of that. and again, that would be theainly foreshadowed by boj, which is willing to entertain modest overshooting of the target. , thank youdrew levin very much for coming and giving us insight into this huge day for monetary policy. scarlet: going on right now in washington, being grilled by lawmakers from the house committee on government reform. mylan being criticized for the profit they make after they repeatedly raised prices on the epipen allergy shot.

you can watch this on bloomberg live go. this is bloomberg. ♪

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you don't see that every day. introducing wifi pro, wifi that helps grow your business. comcast business. built for business. mark: i'm mark crumpton. fbi has released an nh of two men who took a suitcase, holding a bomb that did not explode in new york city saturday night. federal prosecutors have charged mad rani -- rahami. the men were seen saturday night removing the bomb from a piece of luggage and leaving the behind, while taking this a case. investigators have said the two men are being sought as witnesses and not as suspects. has bigger paul ryan has the anes it needs to override expected presidential veto, a

legislation that would let 9/11 victims sue saudi arabia. he had knowledge as he has concerns, saying he worries it will make trial lawyers rich, and will upset a valuable ally in saudi arabia. president obama opposes the measure. he believes it could lead u.s. officials open to retaliatory lawsuits in foreign courts. it's another sign of how the presidential race has fractured traditional voting blocks. numberng to a new politics survey, high income voters are narrowly supporting democratic nominee hillary clinton. she leads republican nominee donald trump, 46% to 42%, among voters with household incomes of $100,000 or more. since 1996, republicans have always won that demographic. chicago is hiring more police, as the city struggles with an epidemic of violence. chicago plans to add more than 900 new positions over the next two years. overall, the city has reported more than 500 homicides this

year. that is higher than all of last year. news 24 hours a day, powered by more than 2600 journalists and analysts in over 120 countries. and mark crumpton. this is bloomberg. back to you. scarlet: thank you. let's get a recap of today's market action. the federal reserve decides on interest rates unchanged, and stocks rallied. you can see the dow adding 164 points. the snp adding better than 1%. a straight shot up, as janet yellen began her profits. oil prices rose good the u.s. dollar declined. manager leonnd cooperman has been accused of insider trading. he denies all wrongdoing and defends his buying and selling of shares in atlas pipeline partners. --ior markets chorus ended correspondent julie hyman was listening to the conference call. who was on the call and what

were they saying? reporter: it was just leon cooperman, and he was colorful as always, beginning with a joke, and saying the facts do not support the charges. he said he had a chance to settle with the sec but says he is going to fight the charges. he says, i'm not going to let these people destroy my legacy. he kind of went through to some ,egree, his investment in atlas saying that his firm began investing in atlas related companies all the way back in 2002, and then atlas itself in 2007. he says in the july in question, in 2010, that his firm added 2.2% to existing positions.he says that was not on behalf of him or the partners, but rather outside managed accounts. in other words, he himself did not have any money in stake -- at stake in this time. although presumably, there would have been some fees that benefited him that were at stake. he says neither omega nor i so

-- sold shares after the announcement at liz would be selling assets. that is the insider information the sec allegedly had and acted on a ahead of time. he says, we did not profit from it. in fact, they continue to buy the shares. he says come on and there is to say, the losses were gigantic. he also said they were not long call actions, as -- option as the ed ccs alleged -- as the sec has alleged. he said he was dying to take questions, and he's not taking questions with an f for much of its it was a fairly brief call as he went through various details, and vowed to fight the charges from the sec. matt: thank you. julie hyman, bloomberg senior

markets correspondent recording on the insider trading case. thatet: the demographic has historically supported republicans is switching gears. in a two-way contest, hillary clinton beats donald trump 46% to 42%, among voters with $100,000 or more. let's bring in the chief global political analysts at citigroup. when you look at the polls overall, they have tightened, which you noted is typical for this stage of the cycle. yet, you reduced the odds of a clinton victory from 65%, to 60%. reporter: i'm still nervous about that, but it is the part of the curve when political analysts are freaking out about the data. national polls have tightened. it is clear after labor day, the clinton bounce has worn off. the developments in the clinton campaign did not help. on the flipside, donald trump's numbers have not improved. i would be careful about making

the assumption that the betting market seems to have done, that trump has the momentum here. unusually, a lot will ride on the first debate next monday night, because americans don't intend to start looking closely are actions unless you wonky type, until after labor day. joe: a lot of the divides we are seeing in u.s. politics this year, they are not that new. everyone purchased on working-class -- everyone focused on working-class whites. but people who make a lot of money this year are actually voting for there a public in less than they have in the past. is this the future of politics in the u.s. and europe? essentially, this very stark divide between cosmopolitans doing very well in this economy, who like things like that diversity and immigration and trade, and people who don't like cultural change, and don't want

to see people from other races in their towns. winners and losers from globalization, right? >> more or less, right. i agree with that characterization. it ends up becoming a question of numbers. one of the things we have to take away from this, is the spike in advanced economy political risk between the uk referendum and the rise of trump, even if he doesn't win, is that election outcomes in democracies feel a lot less likely to be mainstream, politically neutral outcomes, than at maybe a knee other time in our lifetime. markets no longer count on the result that is neutral. when you see landslide victories in history, like do thereagan in 1984, polls forecast that ahead of the election, or is this something that surprises even the wonky types on election night?

>> what we have seen his margins narrowing over the last couple of decades. [no audio] -- with obama at a slightly but a statistical tie, but people said it was too close to call. in the end, obama came in with 52%. we are not going back to a time of landslide victories. i think the polarization is a feature of the landscape. income is part of it. education is part of it, but also, what i quote from the barometer about the case of team -- change. that is not limited to the have-nots. even what they call opinion leaders and professionals, feel it is a pace of change that is too rapid. they're talking about, maybe it is time for a pause. joe: is this why we see the collapse of centrist parties, even let in countries like germany, where the economy is

thriving, or austria, where unemployment is like 3%. you can't really cite an economic factor on losing out on globalization, yet we are seeing the collapse of the center. matt: globalization or immigration? >> immigration is a lightning rod, no question about it. the answer to what you said, the advanced economy, collections are won and lost on fringe issues, culture issues, whatever it might be. the other point, how much society has changed. iner the great depression 1929, there were no social safety nets for people, then they need to establish workers rights and all kinds of other programs. unemployment, medicare, medicaid, etc., has helped narrow the divide. we are not talking about left and right anymore. those are meaningless. economic nationalism is something that we see, whether

platform,mp policy marine le pen, or conservatives and the uk, talking about bailing out industries. scarlet: we may not be talking about left versus right anymore, but we still have two major parties in most countries, with the addition -- exception of third-party candidates. how do you folding candidates stein?ry johnson or jill do they hurt clinton more or trump more? a little bit early to say, but i think that they hurt term.n more in the short what it adds to is the great difficulty in forecasting. if you think back again to the the couple of elections, stats guys were the heroes, but nate silver said in this election that donald trump would never be the nominee. that is why i think a lot about the cultural, social, and economic factors. public health, for example. joe: i'm curious how much you think the internet is a factor.

gatekeepers.more everyone can live in their own filter bubbles. how much has not caused a splintering of political views and hardening of political views? >> i think it is not causal, but it accelerates. we know the more facebook friends you have, the less happy you are. also, we know that in a time when just about everyone is , and print bloomberg media, you can look at that to show that people get their information from social media and other people, especially people like me. -- theuk, we have country has had enough of experts. scarlet: we have not had enough. thank you. with us. be sticking we will talk about japan's workforce growth and how women will play a huge role in that countries economic prosperity.

this is bloomberg. ♪

scarlet: i'm scarlet fu. it is time for the bloomberg business/. a look at some of the biggest business stories. shares of bed bath & beyond are following in extended trading, after the company reported second-quarter revenues that fell short. that's company reaffirmed the 2017 earnings outlook. the link says it has received agreement from the u.s. government to sell jetliners to iran. it will be the first in almost 40 years, as trade between the two nations thaws. boeing says it is negotiating terms, for as much as 109 jetliners to run.

mark zuckerberg and his wife are pledging more than $3 million over the next -- $3 billion over the next decade to work on curing diseases. they plan to work with doctors, and universities to work on the goal. they believe it is possible to cure, prevent, or manage all disease. leanne cooperman continues to fight sec charges in a conference call moments ago. he says he will fight the charges and the facts don't support the government's charges. and that is the bloomberg business flash. investing in women's economic empowerment is intrinsic to achieving a countries success here japan is learning that now. onlyese women today occupy 9% of managerial positions in private sector firms, even though they account for more than 40% of employees. tina fordham, chief global political analyst of citi is with us.

she was speaking on the women's panel at the u.n. what is the main message, and what do governments have to do on this front to continue making progress on this huge potential, for the economy? >> getting more women into the economy is a huge driver of the country's growth. we also know that workforce and management structures are good for companies. as a member of this first ever hyatt level panel on u.n. women's economic empowerment, the message is actually simple. removing barriers to entry for women in the labor force, dealing with issues like unpaid care work, and other aspects of then's participation in economy like access to banking is not just the right thing to do, it is the smart thing to do. matt: which cultures are deficient?we talk about the -- japan.

which cultures are doing the best? tina: the u.s. is not doing that well. rate ofceeded the u.s. labor force participation last year. the u.s. is one of the worst -- whenrs in the lac be it comes to paid maternity leave and childcare provision, which are the byproducts that help women get into work. audience imagines we are advanced in everything. even in nordic in scandinavian countries, where they have excellent, high quality government subsidized childcare, when you look at women on board and management positions, it is still stagnating. matt: at a low level, 30% or show -- or so? tina: we wish 30%. it is less than 20%. that is the drivers in place.

one of the things we need is meant to get involved. abe and his involvement with womenomics, is important taking the lead, as is justin trudeau and president obama. scarlet: you mentioned shinzo abe, and the other leaders of the countries like canada and the u.s. can the public sector lead the private sector in helping women gain advanced positions in companies and management? tina: i think the private sector has to help itself, more than we are already doing.there's a lot of talk about pipelines . but getting back to the panel and our work, it is going to be quite a nation. in the event we are hosting tonight with members of the high-level plan on -- panel, we are going to issue a call to action for members of the private sector individually, or at the company level, to join the women's empowerment principles, join he for she, and

many other ways to come together. joe: how much of these issues come down to laws and regulations, and how much is cultural willingness to accept them? for example, something like paid time off or leave. if people don't take them, because they are still seen as, you shouldn't do that, or it will diminish your career track, then that could set back the law . how much does that set back the law intent? tina: one of the things that was said last night, when ship -- shinzo abe was talking about it, it is not a movement to reduce gender equality, it is a liberation movement for men. i quite liked getting that message across. this should benefit both men and women, in time with their families, and more economic prospects, which eases better outcomes for children and families. there's a real multiplier effect. culture and laws, the chicken first? egg, which comes

the world bank's identified a majority of countries have some number of laws on the books, that either restrict women from maintaining property, owning titles, opening bank accounts, etc. culture is part of that. the g20 member states are getting involved with the w 20, which will require them to agree to targets. it is expensive to maintain these policies. matt: but the payoff is hopefully much bigger than the investment. thank you so much for your time. tina fordham, citigroup chief global political analyst. scarlet: coming up, trump economic advisor weighs in on the wells fargo scandal. this is bloomberg. ♪

matt: the senate banking

committee grilled wells fargo ceo yesterday in washington, over the creation of 2 million unauthorized customer accounts. members in the committee are demanding wells fargo clawback paid from the executive in charge of the unit, but that may be harder than it looks. trump economich adviser peter navarro, who weighed in on wells fargo. >> this is just a stupid behavior on wells fargo's part. you can't make up a regulation to tear that kind of stupidity. they will pay a heavy price, as they should. reporter: there has been widespread confusion, and i'm hoping you can clear that up for us. will the 15% tax reduction rate of the corporate tax plan trump is proposing, will that apply to small businesses? >> yes, small and large businesses. there will be no gaining of it. small and large businesses. go to the website.

reporter: it doesn't say that on the website. >> go to the website. what you are talking about, it may be important, but when you a smalle plan, it is difference over a big picture. tax we are going to do is cuts, we will lose about $2.6 trillion in taxes over the 10 year that it window -- budget window, by having a stimulative tax cut. but when we score energy trade, and regulation, and the trump plan, by unleashing the economy, we get back that money, and we move forward in a rapid growth model at 3.5%, and the country booms. ,eporter: but small businesses small business leaders in washington and all over the country, had really pressed the trump campaign on this. theou can say that until cows come home. small and large as this is get

the tax cut. go look at the complexity on the website. reporter: no answer. ok, moving on to the federal reserve. people in the regulatory sphere, they look at donald trump's rhetoric on the fed, and they see it is too bombastic. is that a probe -- problem that will be created problems? >> we will have certainly -- certainty. wants, thet everyone american economy to go from 2%, to 3.5%. trump bullve a market, not a paper bowl obama market. scarlet: coming up, what you need to know if it -- to gear up for tomorrow's trading day. this is bloomberg. ♪

scarlet: on this sad and boj day, we have stocks rising, oil rising, the dollar declined. we have to look ahead to tomorrow. i am focusing on the eu trade ministers. they begin a two-day meeting in but his love a to discuss a canada deal in -- in process love to discuss a canada deal. joe: i will be looking at u.s. jobless claims. one of the most rocksolid labor indicators you can find. it does not seem to go up. we will see if the trend is the lowest since 1973. don't miss this, u.s. existing home sales tomorrow at 10 a.m.

the housing market has been a little soft. patent into what may be it most likely is your biggest asset. scarlet: that is all for us. thank you for watching. joe: have a great evening.

john: i'm john heilemann. mark: and i mark halperin. with all due respect to donald johnson and agree, we are getting the impression, you are a one trick pony. >> donald trump is not a true conservative. >> donald trump is not at 50%. >> for mitt romney. donald trump shouldn't run. >> conservative egghead. >> donald trump >>. glenn beck. lindsey graham. donald trump strategy doesn't work. >> donald trump wants to let japan go nuclear. >> donald trump doesn't like nato. >> donald trump will never run. >> he won't do well. >>