here's what people have been saying about rejected in the senate it's full on. the only show i go out of my way to lunch you know what it is that really packs a punch oh yeah it is the john oliver of our three americans doing the same. apparently better than the blue things that i see people you've never heard of low down for the night the president of the world but i'm so very. seriously sent us an email. i would hope to change to. put themselves on the line. they did accept the reject. so when you were the president and she. wanted. to go right for the so what before three of the more people. interested in the waters at the. first.

time lindsay francis is the boss broadcasting around the world from washington d.c. tonight we've got a resignation on the fed board governors another nominee isn't confirmed yet and skeptics say janet yellen may not keep her feet as chair it's a panic and the race is on here in the united states as the government begins drafting laws for self driving cars also my guest and i talk budget and how the president has lassoed congressional democrats to do his bit it's a shock first mike at. says he saw it coming down by the bus starts right now.

well it doesn't look like the european central bank is ready to slow its stimulus program just yet during a press conference on wednesday e.c.b. president mario draghi announced the governing council's decision. regular each of them is your money tree and now this is we've decided to keep the key interest rates unchanged. we expect them to remain at their prison levels for an extended period of time and well past the whole reason. that purchases well right now the bank is buying sixty billion euros of bonds per month but we

could see that adjusted based on new figures during that conference druggy added the e.c.b. raised its euro zone economic growth forecast to two point two percent that's up from a one point nine percent forecast and would be the fastest growth in ten years. druggy also went on to say the eurozone created six million jobs in the past four years and called its recovery robust however the bank trimmed its forecasts for inflation to one point two percent in two thousand and eighteen a one point five per cent in two thousand and nineteen as an increase that's below the two percent target. and the federal reserve board of governors is down by one stanley fischer has submitted his resignation he says it's for personal reasons his office will be packed up by mid october just after the fed meets in september this comes as questions persist over an interest rate hike by the end of this year and

whether care person janet yellen will be reinstated for another term at the beginning of two thousand and eighteen or if she even wants to be let's go to dallas where my guess is danielle de martino booth president of money strong and author of fed up and insiders take on why the federal reserve is bad for america you have your own very strong opinions about this you say we could face a crisis if randy coral's the former treasury official under george w. bush isn't instated soon. you know i think the onus is on the president right now to compel the senate to confirm quarrels as soon as possible. that all the conspiracy theories aside stanley fischer is a man of amends integrity i truly think he's stepping down for perth for the personal reasons as he stated in his letter but that being said if we end up as of october the thirteenth with only three permanent members on the federal reserve

board it will get very complicated to make monetary policy in this country especially in times of stress because of the fine print in the federal reserve act . do you think that trump going to ford to make this a top issue right now we've seen his surprise alliance with congressional democrats he's got the debt ceiling to deal with how can he push this through. like in theory by the time we had we we saw labor day in the rearview mirror janet yellen would have either been announced to be reappointed or trump would have announce who her successor was going to be and start the process with the senate clearly we've seen labor day come and go and that has not happened because gary cohn is now fairly publicly out of the running for younglings position i understand there are a lot of things going on in the world but at some point it's going to be hell tell the last person in the room to turn the lights out because there's nobody left on

the federal reserve fort so trump needs to push this up to the top of his list of things to do we're talking about the world's largest central bank and the world's largest economy here well let's talk about the chair of the world's largest central bank janet yellen how much power does she wailed right now. she will the tremendous amount of power if there are truly only three permanent board members left again i was mentioning the fine print of the federal reserve act in order for there to be a quorum of. it in the language that means that if there are just three people if two of them have a conversation lael brainard decides to talk to drone powell about the whether the law dictates that their conversation would have to be recorded because there are so few members sitting on the federal reserve board if janet yellen makes it clear that she does not want to be reappointed and that's certainly her right she can say that to the president in theory we could be down to two people so she is wielding

tremendous political power right now she's got trump's feet over the fire because he's run out of warm bodies especially if the senate doesn't move quickly. to confirm coral's writes we've got to be inflation indicators just to move to the september meeting for a moment and then said uses certain benchmarks. it's less than two percent which is what is sort of looks that unemployment rate has fallen to four point four it's heading at less than to september results for this meeting coming up. look i think that you know we don't even have a twenty five percent chance that the fed. hikes rates in december with the uncertainty of rising around hurricane harvey hurricane erma there is going to be a lot of noise in the data that's coming up between now even and the september nineteenth twentieth meeting i don't think that we even see him about

a rate hike before the end of the year given how inflation is behaving and how skittish we've seen markets of late so you know fischer has criticized you right have talked about this he's criticized attempts to unwind the banking regulations implemented in the u.s. in the aftermath of the financial crisis janet yellen has. done the same thing i mean how does this bode for the future of the fed how much sway does he have he was a very close confidant of janet yellen he absolutely was they were on the same page when it came to making sure that some of the stronger regulations that they feel made the banking system that much more resilient in the face of the next recession stay in place and randi corals on the opposite of the spectrum has been very public in saying that some of the need to be tapered back toned down tempered which obviously is very friendly towards the banking sector so it will be interesting to see to get those two in a room without stanley fischer again of corals it's confirmed ok you know i've got

to ask you something because you've come on the show before and we've we've talked about the. feeling on the fed stanley fischer was appointed to the fed in two thousand and fourteen barack obama economics professor at mit governor of the bank of israel two thousand and four to two thousand and thirteen his resume is covered in ivy. but you just don't like this guy. his pedigree is unquestioned and before he joined the federal reserve if mario draw he was having an existential crisis in the middle of the night he would pick up the phone and call family fisher he was considered to be the godfather of central banking he earned his reputation legitimately i don't i don't pound the table very often for ph d.'s anybody who's read my work knows that but i respect stanley fischer he called his fellow policymakers at the federal reserve to the carpet at the very first f.m.c. meeting he attended because they use a broken inflation metric that it's always going to be below target and he

recognized that so at least he had in my opinion the constitution to question the orthodoxy of his fellow peers in central banking so he will be he'll be sorely missed on the form see and again lindsay you know me i don't say these things lightly you have pretty good things to say about fischer's we have established but are you afraid that someone could make it on to the board who isn't willing to talk back. well i think of it because of the question you asked me earlier in terms of how much power is janet yellen wielding now that fischer has announced his departure in theory she could she could potentially behind closed doors for all we know say if you really want for me to stay on make sure that interest rates stay low while you continue to not pass any legislation president trump that's fine surround me with the doves i want bring people on who are going to agree with me

and not dissent we will see how much power she has in the coming weeks and months absolutely it will be completely clear the question is will donald trump's republican congress stand for it given they have not confirmed corals yet will they make a counter demand asking the president to put more hawkish people on the f o m c lindsay . we have the makings of a real of true political tinder here going into a very tenuous time as the yield curve the difference in two year in the ten year treasury announces to us in no uncertain terms that the economy is in a more fragile point than it's been in the last decade plus give it back to forward to december a lot of people say interest rate hikes not going to happen others say well it's happened twice in not that many months what do you think we could see by december well we do tend to get a rate hike in our in our holiday stockings don't we if that's going to be the

pattern that that's followed but again i've never seen this particular dovish f o m c pull forward with a rate hike and surprise the markets so they had to have at least fifty sixty percent probability built into the futures market in order to pull the trigger to decembers ago and last december again work twenty five percent right now i don't see it happening in december just don't see it unless probabilities start to go through the roof and we've seen the last payroll report which i most important indicator that we will see before the september meeting. well we'll see what this next statement looks like and see if there's any kind of a hint about december but i still think that the bond market until we get through this september meeting is going to be hyper focused on the balance sheet solutions that are to be made here in this upcoming meeting right september meeting coming up in a little more than a month thank you so much for your input on this always insightful and danielle de martino both president of money strong and author set up an insider's take on why

the federal reserve is bad for america. time now for a quick break but stick around because when we get back trying to deal with the democrats taxes dr mark sit down with me on that next and don't forget starting tomorrow we invite you to get a different perspective on the former governor a film star pro wrestler a navy seal and now best selling author and jesse ventura hosts the world talking to justice friday night at seven thirty eastern right here on our team out there go to break here the numbers of. all the worlds and all the news companies merely players but what kind of parties

are anti america r.t. america. america or so. many ways to use the landscape just like the real. good actors bad actors. you could never you're all. so the park and all the world all the world all the world's a stage we are. remember this back in april. that was a united express flight three thirty four eleven about to take off at o'hare international airport david dow was dragged off

a plane by chicago security officials after he was gone from his seat by an overbooking policy he flatly refused to leave the video went viral it caused outrage and it led to a social media firestorm heaping condemnation on that company. and then of course on the industry as a whole as we saw him drag down that aisle in any case it's been a long wait to see what would happen legally and now nothing the company dodged a lawsuit with dow by settling out of court the good news for flyers is that united says the number of passengers bumped from their seats due to overbooking has dropped by ninety percent. cyber security firm. says it has made a crypto currency discovery about one way hackers can mine your money the malware it discovered spreads through social engineering and where it hides inside a computer gathers your crypto then sends it out to hackers the most popular

currencies are money arrow and cash because they offer the most anonymity possible and are difficult to trace two groups both working in russia have been uncovered and the evidence suggests that they have control of between four thousand and five thousand computers and it's lucrative too it racks up up to thirty thousand dollars per month according to analysts. the u.s. auto industry has been through a lot especially since the great recession but beyond u.s. economic obstacles a big hurdle has been the emergence of electric cars couldn't new bill in congress help out boom bust bank of fish he joins us now for more on this just how far up the hill can this bill make it well so far passed the house with unanimous support which is a pretty rare currency's say is it now of course needs to get through the senate

but nobody is expecting made major obstacles in doing that if it passes a new piece of legislation on capitol hill could pave the way for more autonomous vehicles in the u.s. the self-drive act for safely insuring lives future. point and research in vehicle evolution act passed in the house on wednesday now the bill's on its way to the senate where it would become the first federal law on self driving cars in the country the bill states the purpose of this act is to memorialise the federal role in ensuring the safety of highly automated automated vehicles as it relates to design construction and performance by encouraging the testing and deployment of such vehicles right now automakers and other companies interested in testing the technology have to go through the national highway traffic safety administration the agency only grants twenty five hundred grams per year but this act would increase that figure to twenty five thousand now upon hearing the news

a lobbying group that represents ford valvo google and issued a statement saying self driving vehicles offer an opportunity to significantly increase safety improve transportation access for under-served communities and transform how people goods and services get from point a to b. the bill wouldn't create a free for all though in order to get approved for a grant companies would have to prove the car is as safe as its human operated equivalent it would also have to report any crashes and list them in a public database but if the bill passes it would still have significant implications for the auto industry as a whole and for companies on the outside that are trying to make their way in. it is there anyone or group that actually opposes this and wants to stop it at all costs well there's not really so much opposition as there is uncertainty in the obviously making some industry experts nervous for example some of them have pointed out that there's

a lot of uncertainty regarding liability in this bill you know during casting if somebody gets hurt or even worse somebody dies how are these new regulations going to change the protocol on what happens you know exactly who gets in trouble for that who pays for it. what or how do these new rules change things and the national conference on state legislators actually sent a letter to congress asking them to expand on states' roles in this new legislation for example if one state wants to make their own regulations in addition to this would be nationwide rob or if they want new rules or if they wanted to impose some sort of figure at least speaking can they do that if so does that change the process from what it's like now after this bill would be implemented so overall there are just a lot of questions going forward and some people just want a little more clarification on how this really changes for everyone and what it means and what it you know it might prevent in the future if it were to be passed right so obviously of california minnesota have different driving can they tack on

their own be. what side does this help more of those auto companies ride sharing companies what sector does this sort of really blossom for i mean so far it's not really helping one side more than the other obviously self driving cars created by google and this is the right. and left have been a very big threat to the auto industry but right now it's kind of just paving the future for both as long as the bill stays the same unless we see amendments you know cutting a wide swath thank you so much. well forcing the hand of congress its surprise on the side of the g.o.p. and even in the president's cabinet as donald trump strikes a deal with congressional democrats to move forward trying to pass a budget my guest says this is much much more than a thinly veiled threat to the g.o.p. it's an outright declaration that the republicans better get on side or else so please welcome senior fellow at the me sees institute and author of the economics

of prohibition dr mark four in ten thanks for joining me on this now look you say you expected it it was in an eventuality it was a matter of time. well i certainly wasn't shocked that where the republicans were speaker ryan and senate majority leader mcconnell were shocked and eventually but they became very upset and mad about the whole thing trump's own staff was surprised his cabinet members were surprised i think even the democrats were surprised that this happened but i was anticipating something like this to happen because president trump just had to get the republicans in line he had to get them negotiating properly and reasonably the republicans were all playing their own little individual game where they thought they were in control of everything and they were getting nothing done now they have been sent the message that they need to start getting something done they need to be reasonable rational and negotiate properly and so president trump has shot that over the bow at the republican

leadership and i think it's going to work and i also think that you know in this case. things like the debt ceiling things like the budget things like hurricane aid and so forth that are in this package are things that are not really in president trump's agenda these are things that are nuisances these are things that are delaying working on legislation that is part of his agenda so he's not really losing control he's trying to gain control over the republican leadership and the republicans in congress and i think this is this is going to work out and finally you know he's not really handy and the democrats a big victory it is a surprise victory in the sense that they didn't expect to be able to write this deal but it really only gives us the status quo gives us three months to work on the legislation like tax reform and get that done as well and so the democrats

really haven't won anything except for a surprise victory over their republican counterparts right but i was going to say don't you think the dems are very on guard about this i mean when we talk about the funding for fema it's very popular they need to be doing that has it still have a name all these years on from katrina keeping the government funded the depth yelling this is good for them they've got to be on guard though. yes the democrats are the party of construction they want to construct policies they want to construct bureaucracies they want to keep keep the ship of state moving forward they don't want to see disruptions they don't want to see policies torn down and things of that nature and so they want to get these things done whereas republicans traditionally have the reputation of being destructive of starting wars of shutting the government down of you know undoing policies that are meant to help

the really ultra poor in the united states and so the democrats in that sense they get a victory in that their agenda is moving forward and the extensions on the national debt the extensions. on the budget are only three months the republican leadership is demanding that it go past the midterms which would have benefited them because they're in trouble in the midterm elections ok so you think the g.o.p. is climbing the walls behind closed doors or did they possibly think this county. i don't think they saw it coming at all that the shock. you know speaker ryan and senate majority leader mcconnell are not that good of actors and and so i think that they were generally shocked they're generally. you know regrouping

and as a matter of fact i think the deal that president trump created has already bearing fruit. in a positive negative way for president trump speaker ryan went to the president said we are going to get your corporate income tax reform done but we're not going to get it done the way you want it you're not going to get the fifteen percent right and we go only going to get in the low twenty's and we're going to keep some of our special interest groups the deductions and special exemptions in the corporate tax so you know he wants to get things done but if you get things done it's a mixed bag forever yeah you do actually have to burn the candle at both ends you bring up an interesting point obama's pitch was go from corporate tax of thirty five to twenty eight. in tampa saying fifteen members are very concerned about what is in this tax reform package it's aimed as onil tom says that middle class and business he repeats this time and time again like in north dakota by ministration

is working with congress to develop a plan that will deliver more jobs higher pay lower taxes for businesses of all sizes and middle class families all across the nation so it's not only business taxes it's middle income families it's families at every level. very broad in there and when he says you know fifteen percent for businesses and for massive fortune five hundred companies do you think that the people like in north dakota are going to actually say he can pull this off if he can fight with them across on something like the budget maybe he can pull this off. the president knows that high taxes on business are bad for companies they're bad for job creation they're bad for the economy so he knows the basic story here. but in terms of the details i don't think he's really that concerned he's more concerned

about getting his agenda passed in terms of tax reform and so i think that's the primary motivation. now for members of congress in terms of the house of representatives in the senate they're extremely concerned about tax reform. they have special interest groups that are getting tax breaks they have other special interest groups that have very high taxes. and so they're very very intent on manipulating tax reform in a special way tax reform in the united states is something that occurs every two to four years and it's one of the biggest creators of the political campaign donations to members of congress and to members of the senate because all of a sudden every lobbyist every group comes to washington d.c. hands out lots of money to all the members on the tax writing committee and then. as the legislation is crafted they start handing out money to everybody in congress

and so it's a really big deal for members of congress where as for trouble he just wants a general. tax reform. that reduces taxes maybe simplifies it a little bit yeah he just wants victory ok last question real quick bill clinton you mention that when he had to pivot he did is this what trump is doing because bill clinton did it very well yes bill clinton did very well after the first two years he realized that he was going nowhere major defeat after major defeat and his democrats were not really helping him all that much and so he did the pivot and started working with the more reasonable republicans the more moderate. so he pivoted and got much more done he certainly as a result including welfare reform right thank you so much for your insight on this dr marc thorn senior fellow at the me says the institute and author of the

economics of prohibition. that's all for now check out the show on you tube youtube dot com. thanks for watching next time. you're watching our. i'm a trial lawyer i've spent countless hours whoring through documents to tell the story about the abuse i was in the. corporate media everything uses to talk about the

carnage. i'm going to pay to clear picture about how disturbing how to love for his big mom these are stories that you know know it's a march toward your post to the american. west to. all the world. and all the news companies merely players but what kind of partners are anti america play r.t. america offers more artsy american person lead in many ways a news landscape is just like the real news big news good actors bad actors and in the end you could never you're on. so much parking all the world stage all the world's a stage all the world's a stage we are definitely

a player. coming up on our team category five hurricane army is making its way toward florida after wreaking havoc on the caribbean latest from miami. plus as residents of texas try and salvage what's left after hurricane harvey landlords are demanding their rent. then could your favorite coffee shop be breaking the law a new lawsuit in california says so we'll bring you the details. it's thursday september seventh find him in washington d.c. .