a common leave it to show us so didn't out enough. ation. the 5 of the yes actually ended out enough. this is guns. it's the sun for right now, there are 2000000000 people who are overweight or obese. it's profitable to sell food. this is cathy and sugary and salty and addicted is not at the individual level. it's not individual willpower. and if we go on believing that never change is obese, again, that industry has been influencing very deeply. the medical and scientific establishment in what's driving the obesity epidemic, it's corporate with

with they've been bustling business, say you can't afford to miss. i'm rachel law that i bridge a bar in washington coming up. the federal reserve has announced that it will ramp up the tapering as the federal bank is winding down time. demick measured straight ahead. we bring you full coverage of the monumental meetings and residents she couldn't have held their birth. virtual meeting in several months has tension over trade in the olympics. continue to stay in the globe. we'll take a look at the talk and what it means on the geopolitical thing, and the talk to come as tension continue between the us and china. i'm in new reports that washington plans to blacklist for chinese firms,

including the world's largest commercial zone maker d g. i technology. we'll discuss it all next. we have a lot to cover today. so let's get started. we leave the program with the latest meeting of the federal reserves, open markets committee, where chair jerome power, signaled that the central banks easy monetary policy is likely coming to an end with inflation rising out its fastest pace. and nearly 4 decades, investors had been eyeing a substantial policy shift from the side even setting the stage for interest rate hikes as early as next year. now with all of this in mind, along with the fears of the impact of the i'm a crowd variate equities in the united states have dipped over the last week. but following wednesdays, meetings, market started the trend upwards. so what did we learn from the f o m c and j power? today? let's go to our tea producer leslie pet or outside of the federal reserve here in washington, d. c. all right, leslie. what insight did we get from chairman power on wednesday?

well today to empower laid down the groundwork for pulling back easy monetary policy. so he discuss pulling back and tapering off of i said, purchases and as well, what are the interest rates for next year? take listen in support of these goals to federal open market committee kept interest rates near 0 and updated it's assessment of the progress of the that the economy has made toward the criteria specified in the committees forward guidance for interest rates. the committee also decided to double the pace of reductions in its asset purchases. beginning and mid january. we will reduce the monthly pace of our net asset purchases by $20000000000.00 for treasury securities and $10000000000.00 for agency mortgage backed securities. ah, so yes, the economy is on track to expand rapidly as people are getting more vaccinated and businesses are opening. however, the rising coven cases in the oklahoma con very has been found and could change

projections right now. lastly, whenever it comes to that latest coven 19 variant. why did the fed say regarding the outlook is, is that something that they are continuing to be concerned about? it's obviously something that they're going to watch for, but it wasn't the main focus of this meeting. the meeting will discuss interest rates for the next year, where we're going to go and what, what to actually person to expect. so now some of the interest rates that they talked about, they wanted to keep it down to 0. but we're going to get probably a rate of point 9 in 2022. then we're going to jump up to 1.6 in 2023 and then falling and ending it with 2 point one in 2024. i flee. what is the fed looking at moving forward as well? what indicators are they looking for? well, honestly, they're just looking to make sure that the real problem, what they're doing is trying to stabilize the economy and make sure that american people feel comfortable. yes, wages have gone out, but people are still unemployed as well. i have also gone down in the right now at

4.2 percent, but then we have also seen that some people are not working due to fears of the corona virus or coming caregivers. so there's a lot of things that they're looking for looking to as to what will be up for next year, or 2 lazley patter. thank you so much. thank you. let's go deeper into depth on this now for what it all means with former fed insider and ceo of cool intelligence, danielle dean martino booth. danielle is great to have you on the show today. let's start with what we've heard about this tapering timeline. is it that, that moving in the right direction, or is this all a little too late? at this point? we're really about to find out. this is a real time experience experiment, the likes of which i have never seen. so i think we're going to find out it literally in a matter of months whether or not the economy is going to be able to withstand this removal of liquidity. and especially as we're going into an election year. and

there are questions that remain in terms of the level of fiscal stimulus that is or is not going to be there for you. as households, of course, the us economy is driven by consumption. so these are important questions to ask, but it appears to be, at least for the time being that the fed could be extricated from increasing the size of his balance sheet by mid march. and i mean, they obviously said they that this could all change at any given moment. what indicators are they looking at there is that could actually change this plan of ending tapering by march of raising interest rates next year. i think it could be anything from the new variant of the virus to, to further signs that we like. what we saw this morning with, with retail sales, when you, when you net out food and energy and cars and building supplies, what they call the, the core retail sales, which, which is an input for g d p calculation. that was a negative print this morning. that's on the feds right. are going forward if they see a trend is being established. say that if we see another week number in december and

in january, then i think that they would become more reticent about the quicken pace of their, their, their tapering and especially about the prospect of raising interest rates into what could potentially be a slowing economy. and i think that that's why powell left that door open to step back if need be. and obviously, i mean, it's understandable that he would leave the door open. you can't say these are hard and fast policies were moving forward, them no matter what happens. so that makes sense. now when the consumer price index hitting a 39 year high in november, and of course power acknowledging inflation is no longer transitory. i mean, can the fat actually do enough to get a hold of this? i mean, their projection for. 1 inflation in the next year is just over 2 percent, which is their threshold. but can they really do that? you know, it's going to remain to be seen a lot of the programs that have been implemented and the post pandemic era are fiscal in nature. and they're continuing on into next year, whether you're talking about the supplemental nutrition assistance plan that,

that we finger by 32 percent as of october. the 1st that's fueling food. energetic food inflation. i don't think they can do very much about that. you know, they can't, they can't do anything about the weather and what our electricity bills may or may not be like this coming winter. they can only control energy to a certain extent, and it looks like wage inflation is also being influenced by the, the sure number of americans who are no longer in the workforce. and that labor force participation rate remain stubbornly low. and that's something that share power brought up in the press conference as saying as being problematic. and de la, you brought up an interesting point because he did mentioned that he mentioned the labor shortage. he mentioned that their wages are going up, but he doesn't see that those will make prices go up. but how can i really say that? i mean, that's where i get confused as to what he's saying. i'm like, there is no way that wages don't go up. you add more money to the economy the same way the federal reserve has and prices won't continue to write. yeah, no,

there was. you could tell that he was struggling with certain questions and the idea of wage inflation is certainly one of the, one of the trickier situations, especially when it comes to small businesses in america. it makes it very, very difficult to hire people in this environment. and again i, i stubbornly go back to the idea of fiscal stimulus making the situation that much worse. and we're talking about potentially pouring more stimulus into the situation . and that would, that would exacerbate weight inflation to a greater extent. so the fed is in between a rock and a hard place because you do have millions of americans. there's an 8000000 worker shortage compared to where we were trend on the trend line prior to the pandemic. that's also a problem for the fed. so you cannot ignore the people who are not in the labor force which is not reflected in a very low unemployment rate. you know, you can't simply just do that math and be that simplistic. and again, these will present challenges to powell in the coming in the coming months. right.

and i know it's interesting because it's almost as if the fed seems like it either doesn't understand or won't admit how it got to this point. now, when it comes to interest rates that something that power hasn't really wanted to talk about. now he's kind of come out and said a little bit more about plans to do some rate hikes starting next year. now in the past, he's kind of hard to tie those interest rate hikes to what he calls maximum employment . do you see them really taking employment into account, especially if it's one of those cases where we see it fall next year, while at the same time they're raising interest rates. well, you know that that's a great question. but again, in his press conference, he did raise the issue of the maximum unemployment being inclusive. he said that he's seen the unemployment rate among african americans, for example declined. he brought that up. and i think that that was his way of saying, you know, what, inflation is going to be driving policy going forward in the, in the near term at least. and that is

a major shift from what we saw in september and the sheer number of people on the federal open market committee advocating for 3 interest rate hikes in 20. 22 also means that house has to be. he has to be wary of the number of the sense that might be be be brewing as the, the complection of the federal open market committee shift to, to being more hawkish with some of the individuals who are rotating into voting in 2022 as several of the dev's fall off of that road voting rotation and radio, i have a couple of one more point i think before we have to get out of here. but the, our current very, you mentioned that, you know, we don't know what these very, and they could cause impacts here. but, you know, 2 years, basically, we're almost 2 years into a global pandemic. we've seen several variance come up to, you know, varying effect here on not only the economy, but on humans as it is. i mean, isn't this kind of the new normal and don't we have to kind of, as they say,

when you're talking about the market price at all in yeah, it would be nice to make that conclusion and draw that straight of a line. but then you see headlines come out today that j. p. morgan chase, for example, has, has, has put its health care conference to be virtual, to go online. and that is, that is economically detrimental. so if, if we don't get back to a more normalized level of travel and the ability to be mo bile, then that is going to act as a governor on economic growth. whether we want to put this pandemic behind us or not. if you start to have, you know, conferences that are planned and people who've been paid and say what, now we're going to put it back on zoom. that's economic output that is being denied because of this new variant of the corona virus. and it will have its impacts on the, on the economy. and j powell said, as much, he said if the, if they, if the fed has to go back and revisit any kind of a drag on the economy due to this than they will do. so. yeah, certainly

a lot of stake here, especially as the fed actually does start to really taper, which is something we've been talking about for months and months and something we will continue to follow. former fed insider daniel dean martino booth. thank you so much for your time. and insight. thank you. and the latest highly anticipated meeting between the leaders of russia and china took place on wednesday through a video conference call. they have increasingly become the main focus of the u. s. as it calls for its allies from europe to australia, to increase the pressure they put on the 2 countries. as a result, that pressure from the west has pushed russia and china to become more aligned with each other. and their latest meeting highlighted the ways in which they can provide mutual support as tensions with the u. s. and its allies continue to build boom bus co host an investigative journalist fence. one has the detail as we told you earlier this week, russia and china agreed to have this virtual summit really in response to the g. 7 summit in which both russia and china were not invited,

but were the main points of discussion. wednesdays meeting between president, she and president putin lasted about an hour and 15 minutes. the main point of a discussion to respond to g 7 threats being made by nato toward russia, as well as comments toward china as an economic threat to the west. calling prudent a, quote, old friend, china's president. she said that the russia leader had firmly supported china in defending its core interests and opposed attempts to divide china and russia. for his part, russian president putin wanted backing from she for obtaining binding security guarantees for russia from the west. security guarantees against the expansion of nato into ukraine. russia wants the united states and nato to guarantee that the military alliance will not expand further eastward or deploy weapons systems in ukraine or other countries on russia's border. something u. s. president biden would not do in a recent call with hooton's. russia now says that china's president has agreed to support those demands for guarantees, stating that the 2 countries aren't just aligned, but are closer than allies. the 2 leaders also agree to meet in person in beijing

for the winter olympics. now put in and she also discussed this idea of a formation of what they call an independent infrastructure for servicing trading corporations between moscow and beijing. that includes discussions by the way of not only financial infrastructures, but also digital currency infrastructure structures that they say in the future will be completely safe between those 2 countries and not something that could be interfered with by 3rd party countries. i give you a guess who they're talking about. for boom bust, i've been swan and time now for a quick break, only come back. the world's 2nd largest economy is starting as low as supply chain concerns and the property sector remain at issue. well, take a look at the numbers and what it all means next. and as we go to break, here are the numbers at the club. ah,

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welcome back. the world's 2nd largest economy is reporting less growth than expected in the 3rd quarter of this year. as g d p growth flow to 4.9 percent from july to september, down significantly from the 7.9 percent growth try to experience in the 2nd quarter . ongoing supply chain. georgia continue to take a toll on the country where demand had slowed and retail sales also grew by less than expected in november. then there was a property sector where new construction was down more than 20 percent declining for the 8th month in a row. and property investment fell from developers by 4.3 percent. the chinese government, which introduced new regulations earlier this year in the attempt to curb skyrocketing housing prices, is now saying it has plans to prioritize stability in all regions and departments in 2022. but we're seeing the opposite of stability when it comes to tension between china and the u. s. as report say the u. s. is planning to add at least 8

chinese firms to the commerce department investment blacklist. so joining us now to discuss all the latest host chrissy i am, professor richard will post the economic update. christy, let's start with you here. what do you make of the latest economic data from china? i mean, is this just a temporary slow down, or is there more cause for concern here? well, yes, it is quite concerning china. economic slowdown this quarter has mainly been dragged down by worsening poverty markets. lumps caused by ever been prices. and china is timing out there financing. so stricter rules to discard speculation and using homes of investment vehicles, china, home sales plunge. and as we mentioned before, the real estate market has made up nearly a 3rd of china, g d, p growth. so you touched on a bit earlier in the us now the chinese government is now prioritizing debility. so that's usually the period that come after growth growth in all of its classes. sectors, china has experience over a decade long and reign of just sure grown. and now it actually has

a healthy middle class population. so it seems like they are now shifting gears into with these new implementations, which means that grow will be the tradeoff. you really can't have stability and growth at the same time. so the government is willing to sacrifice that unbridled growth right now for stability, which is why moves given the tremendous asset bubble that we see everywhere, at least for now, it will, this raining in will well managed to mitigate some of these. but the overall international environment also means the big challenge for china as cool that continues to spread a full global recovery. so infrastructure investments are very weak. domestic consumption was just like the us very lack luster. the fact that real estate accounts for about 75 percent of how hold wells versus in place like the us where it only accounts we're now 30 percent makes it particularly troubling because this house will heavily impact the prosperity of the middle class consumer,

which will then translate entity, cherry consumption. it's very interesting to because the chinese government has, even just in recent weeks that they still planned to hit that target of 6 percent growth even by the end of this year. but we'll see how that all plays out. now, professor will much of the world relies heavily on exports from china. what is the concern of the long term impact from the slow down we're seeing right now, even if paging is able to bring about more stability in the next year. well, you're quite right. china is now a crucial player in virtually every market around the world. anything that happens there, reverberates, that's what it means to be to the 2nd most important economy in the world, catching up to the 1st. so there's concern everywhere that no one in their right mind wants to be the difficulties in china because you know, that will ram of fi virtually everywhere. i think most of the world believes and i

do too, that the chinese have figured out this very sophisticated mixture of public enterprise, old and run by the government and private enterprise. and they know how to coordinate that. they know how to mobilize both private and public resources. that's why they've done so well on the cold in the crisis to this point, way better than the united states and so on. and so i'm, i'm fairly confident that they have the tools and the experience of using them to keep this a manageable part of what they have said. now for decades, they don't want to be dependent on the export markets of the world. they want to reorganize their economy to be more focused on the middle class. kristi quite widely spoke to that has developed and that they want to be the leading element going for. absolutely, and i know we could have a whole conversation about this,

but there is one other show and a hit on and chris the on the topic of reports that the u. s. congress department is actually planning to add a chinese firms to it's entities blacklist. they say that move would be made over the allegations that the companies which include d, g, i technologies were involved in the surveillance of weaker muslim minorities. what do we know about this so far? so what this actually means is that us investors are borrowed from taking states and companies on this list, which now comprise 60 firms. last year d, b, i had been put on the list for the very same reason and that stopped it from buying u. s. technology or components and at the time d, j, i said that it has done nothing to justify and will continue to sell product into the us where it has built up a large market. making responded to this, saying that china was opposed to the us. the suppression of a company and we'll pay close attention to how the situation developed. however, if you look at the companies that are added onto this list, it includes image recognition, software, maybe super computer maker dawning information technology,

facial recognition technology, cybersecurity names, i, companies and cloud computing. firms such as leon, tech and net post. so really, the common thread between all these companies are that they are high tech and height, state industries that the new with and china are competing for in the same arena. and so i've yet to see any information showing how these companies are related and how they're involved with the treatment of we good. but right now it seems like the us is trying to block funding, seeing as are now us investors and us money are unable to invest in the technology and information companies. and it is interesting to see that by and ministration carry on what the trembling ministration started. now, professor will i want to get your take on this because those christine noted there you're talking about 60 chinese firms that have faith different restrictions from the u. s. so is this a sign that these tensions between the us and china are likely to continue? they are likely to continue, but i think

a moment history here will help under the trumpet demonstration, you hit trainees with tariffs, you hit the chinese with a trained war. then you want after executives a while way and other companies, and now you are going after the black listing them every one of these, the geez has something in common. it failed, it didn't change anything about the basic competitive situation. it's arguable that it made it worse. most people around the world seem to believe that and for my money, there's something very strange here. i think christie's right that, that it may just be a competitive strategy hidden under this concern for the province there in china. book, it's a very dangerous precedent. if you're not gonna let international trade flow because you don't like what another government is doing,

what are we going to expect? will the chinese start hurting our economy because of what we did in afghanistan or what we did in iraq or how we treat african americans arguments that would be very similar or could easily be made. so it's very dangerous precedent, and i think that has to be faced, as well as seeing there's more smoke and mirrors year than a real, a contestation and then sentence continue and we will continue to follow them professor richard wolf. and then last, christie. i think you both fear time and insight. thank you. and finally space tourism had a huge year and 2021 and it looks like next year will be even bigger and more interesting. nasa on monday approved another private crude mission to the international space station for houston based axiom space. sometime between fall 2022 and spring of 2023. axiom is contracted with space x to want 4 missions to the

i assess using crew dragon capitals. the top falcon 9 rockets that the 1st flight in the series is scheduled for february of 2022 and will include 3 tourists for an 8 day mission, with each participant, reportedly paying $55000000.00 just for the honor. now the 2nd trip, which was just approved, will also include racing driver, investor in pilot john schaffner. and that's it for this time, you get both on demand on the portable tv app available on smartphones and tablets . you google play in the apple app store by searching portable tv, portable tv. you can also download it on samsung, smart tvs and roku devices, or simply check it out. affordable dot tv. well see you next time i with

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lady that lived over there. i was walking one of the dogs, which is why do you wear again? were you scared with nothing? you could take it off it, i think the people need to take responsibility into their own hands and be prepared if those kind of weapons were less available. we wouldn't have a lot of the shootings that we certainly wouldn't have. the number of desk will health organisation warns of the rapidly spreading all micron variance of code . it could lead to high death rates unless we're lucky. we speak to the europe, director about the crisis. heavily armed men's round libyan government offices in tripoli, with militia threatening disgust for the upcoming presidential election. the 1st search vote in the ravished african country for 7 years. absurd and worrying. that's how most goes described. german allegations of a trembling,

contracted murder in berlin, vowing to retaliate the expulsion of 2.