will it be janet yellen, potentially? is the context that powell will be inheriting this fed leadership. it in the fed, if he indeed gets the job. thing is that things are ok and he inherits a u.s. economy that's in a very good place. inflation worries still remain. and hurricane related data that we still have to wade through. there are plenty of people in the market that have seen enough signs of inflation to not be too worried. world,oadly across the risk assets. haidi: we will talk more about that. ahead ofnvestors investment strategies there. i want to talk about this theme of continuity. it had a very muted reaction when it comes to u.s. assets overnight. say powell is yellen 2.0. it had a pretty subtle telegraphing. december is on the way. but this chart i find interesting because it suggests -- it's a good thing they are going to tighten because you can only imagine how loose financial conditions would be if they still had rates at zero. this is bloomberg's index of american financial conditions. two days above a

the feds monitor a policy on janet yellen scores. this is the w. business live from berlin i'm going to her office ten years after it launched the game changing i phone apple has released the most recent model in the series the computer giant is still moving from strength to strength profits hit ten point seven billion us dollars in the last quarter alone and many are predicting that the i phone ten will break sales records even though at nearly a thousand dollars for the cheapest version it's not exactly cheap. the images are practically identical all over the world there's a countdown customers burst in when the doors finally open like here in tokyo they put down a pile of money and leave like this student euphoric. i think i want to go home and get some rest and then enjoy the phone. the latest i phone has an edge to edge display and uses facial recognition technology. but otherwise it doesn't seem to be the huge technological leap forward that apple claims even so it costs around one thousand dollars in the u.s. and up to half again as much in

they want a janet fed without janet yellen. in that sense, and he is part of that community. a main voice in the yellen consensus, but he is also a strong expert on regulation supervision and some of the other missions and duties the fed has outside of monetary policy. michael: this is the bloomberg television and radio special on the next fed chair. we're talking with fed historian peter brown. michael crapo, the head of the senate committee, says he hopes to have this done by year end. that is reserved for tax reform. [laughter] michael: the masking this as we wrap up. we went through a very long paul volcker,, alan greenspan, ben bernanke sort of made it about the committee of janet yellen expanding. have we changed the way the fed is run and monetary policy is run from one man deciding what is going to happen to a real committee system? peter: this is one of the cycle and fed, a history that goes back and forth. you are right naming the strong fed chairs. each one you names, there are periods with a committee rose up and demanded more participation. what we see with berna

that is janet yellen.are speaking at the nyu stern school of business, talking more about the markets and the economy, of course. she's mostly stating that tightening too fast could strain inflation below 2%, continuing how to keep an open mind and not be hemmed in by forecasts, and also saying persistently low inflation leaves the fed fewer tools when it comes to a crisis, a crisis we have not had since 2008. is tesla facing a crisis? tesla is building a new sports car that goes from zero to 60 in under two seconds. bloomberg data is saying that tesla is burning money at about eight thousand dollars a minute to ramp up production of the all-important model 3, and at that rate, it would exhaust its current cash pile by next august. with us is our reporter who helped to crunch those numbers. $8,000 a minute -- why? >> it's a lot of money, isn't it? they are trying to ramp up production of this model three-car to 5000 a week, and they are trying to build the machinery that is required, the tooling, the servi

oh, janet. only "e.t."where mama janet received a big honor. ♪ >> reporter: the 51-year-old looked amazing in boots, leather pants, and fur vest. janet seemed to enjoy her moment in the spotlight at out magazine's out 100 gala, where she received the music icon award. >> my heart says thank you for being and having the courage to be who you are. ♪ >> reporter: the singer says she's honored that the lgtb community has embraced her and her work. >> we're free to love and love extravagantly any way we choose. [ cheers ] >> reporter: as janet nears the end of her state of the world tour, a source close to the jackson family tells "e.t." janet loves the way she looks now and continues to eat clean and juice to maintain her amazing weight loss. ♪ i'll tell your mama i'll tell you friend ♪ >> reporter: she will spend thanksgiving with the entire jackson clan in california. previously based in london this is the first time she has spent the holidays with her family in five years. ♪ ill literacy >> reporter: janet i

janet yellen would normally be expected to serve a second term but because she was appointed by former president barack obama that is out of the question for the current white house by replacing a fed chairman only after one term president donald trump looks set to break another tradition. last you've been in the u.s. for a long time reporting almost straight and on the fed what your own paul be a good choice i would say he's definitely a solid choice his safe choice as we just heard he's been on the order of fed governors five years he has some experience he is an interesting choice as much as he does not have any formal training in monetary policy is a monetary it cannot mix he's from the private sector but i mean as i said he's been on the board of governors for a while he has gained a lot of experience and if you listen to what his colleagues at the fed governors have said about him he seems to be a consensus maker he seems to be experienced enough for the job so it's definitely a safe choice you said that he's been in the private sector in the public sector he's had some real jobs

his cap does janet yellen -- cast as janet yellen 2.0.-- is maybe going to be -- his own kind of fed chair, he's going to look at this question of tight labor markets, inflation, and saying it may be we need to think harder about this. what do you think? >> clearly, he will be his own kind of fed chair. is business background something that recent chairs have not had, at least a direct experience. i'm sure this will have a fair amount of outreach to the business community. this takes nothing at all away from janet yellen, an effective communicator as well. i think jay will pay some attention to regulatory balance. his are ready said there are some areas were here the federal lessen could actually the burden, particularly the cost of clients. clearly, he will be his own person in the job. it's important to understand, it requires collaboration. it requires listening skills. the federal market committee is very much a committee process. dennis, how is this going to balance with the dynamic of low inflation and asset prices?i sure you see --

many say it is janet yellen to window. that he will continue her path. let's look at the aspects of what he is said in speeches. the fed is close to its mandates. -- policy is currently very accommodative. it is appropriate to gradually normalize rates and below target inflation means you don't have to go quickly. of patience.a lot how is this sitting with people? even harris is the chief u.s. economist at bank of america a merrill lynch and he gives a thumbs-up to jerome powell. fed team hereour in new york and he thinks that jerome powell will be a good choice. that he has exhibited sound judgment and will continue to do that as fed chair. the bank of tokyo mitsubishi had some doubts that a lot of people expressed as we go through the process of senate confirmation. he said, look. the fed chairs the 1980's has become the nation's chief economist. and the question is now, when it with congresst, as opposition, can they defend policy? how will jerome powell reform in a crisis? the senate confirmation will come soon. -- he has already been confirmed twice

thatew york times reports powell has consistently voted with janet yellen. colleagues consider him a centrist and a pragmatist. the president announced his choice from the white house rose garden, yesterday. pres. trump: thank you very much. please. i am pleased to welcome members of the cabinet, members of congress and distinguished guests to the white house rose garden this afternoon. also, i want to welcome the chairman of the senate banking committee, who has done an incredible job, mike crapo. where is mike? please, mike. great job. appreciate it. [applause] pres. trump: as president, there are few decisions more important than nominating leaders of integrity and good judgment to hold trusted positions in public office. few of those trusted positions are more important than the chairman of the federal reserve. accordingly, it is my pleasure and honor to announce my nomination of jerome powell to be the next chairman of the federal reserve. congratulations. mr. powell: thank you. [applause] pres. trump: he is joined by his wife and his two sisters, and i

janet, you were looking back atjohn noa kes janet, you were looking back atjohn noakes and janet, you radzi, you were a baby when she was doing that. this must be a dream come true. yes, people stop me in the street and they say i remember whenjohn did that and went janet they say i remember whenjohn did that and wentjanet did it and broken pelvis. so getting to do it with the balkans is just a privilege. janet, how did you break your pelvis? that was on jump 23, so i'd already done quite a lot of stuff. we were training for a display and i wasn't being filmed. i think biddy baxter was disappointed i wasn't being filmed. they found there was probably a rock under the ground and it was probably a stress and back. iwas ground and it was probably a stress and back. i was out of action for a while, but then biddy baxter said to me, if you've got any more courage in the bottle, tippett upside down and give it a bash. the lastjump i did was 35 or something like that, so did was 35 or something like that, soi did was 35 or something like that, so i did did was 35 or something like that, sold

yellen hass, janet made things very smooth for her successor. she got the balance sheet reduction process underway. unlike in 2015 and 2016 when the fed was telling us that they were going to move three or four times in the year and didn't, in 2017, they more or less have followed the plan, and we know what the plan is going forward. dothe extent that they something close to that, it feels like it should be quite a bit of continuity going forward, and part of that is because of the decisions that were made in 2017 to set the stage for that. betty: one of the things that comes into the mix in the last few days, it isn't that inflation is at 1.3%, far from 2%, at that janet yellen gave a speech last week and acknowledged the dangers of inflation being low. inflation expectations may be pulling back, even though she thinks the tight labor market is going to work its magic, and then the november fomc minutes show that the doves seem convinced on growth but less convinced on inflation. in august, what mr. powell said about this question of inflation

sides, janet yellen does not want a boom bust economy.he just wrapped up remarks. ♪ itnne: that q&a just ending and. a fireside chat more than a question and answer panel. very lighthearted moments, talking about her first days and weeks as fed chair as she does wrap up one of the last speeches we will hear from her before she steps down as fed chair. a lot of talk about inflation as well. betty: saying the fed is not certain low inflation is indeed transitory. pretty significant headline coming from her. mention, wide-ranging talk from everything from her first days at the fed, do the most interesting person is she has ever met. certainly covered a lot of bases. as we digest these headlines from janet yellen, let's get to the first word news with jessica summers. jessica: the mexican peso weakened against the dollar. robert lighthizer says there is no evidence canada and mexico will seriously engage in renegotiating nafta. this follows a fifth round of talks. they fell short of working on any section of the agreement. light hiser says th

what janet yellen said yesterday was interesting.he reminded us that we are not out of the woods with regards to dis-inflationary pressure. although we have seen cpi pickup , we are still not clear we have got much in the tank in terms of wage pressure. inflation across the globe more broadly is well below central-bank targets. the notion that we are moments away from an inflationary shock is probably wide of the mark. doesn't mean we should not be watching inflation? absolutely not. it is a very important figure, not because of inflation itself, because it could be something that would trigger central banks to be more overzealous. differentthe story and perhaps more positive when you are looking at asia with the tech story, the consumer story, the reflation story we are seeing? >> we believe emerging markets are a structural story. our long-term capital market assumptions, we see emerging-market economies growing around 4.5% on average over the next three years. developing markets going around 1.5% on average. that 3% additional gro

you know janet yellen. and you're partial to her, bottom line is, there are a lot of -- unless you fundamentally disagreed with the federal reserve and central banks around the world having kept interest rates low since the recession, in practice, she has been widely lauded for the job she's done. >> yeah. i kind of want -- well, powell is a good pick but i wonder why they didn't give her a full eight years because she has done remarkably and is the first woman fed chairman. would have been a nice symbol for donald trump to give her the term again. it doesn't look like there's any change in policy that, any strong change in policy that he's -- causing with this appointment. >> that's the funny part. because during the campaign, donald trump did what candidates often do. they blame the fed when interest rates are low for artificially inflating markets, because if interest rates are low it pushes people into investments like the stock market. saying it was benefiting her republican friends. barack obama and t

>> where is janet right now?et jackson. we >> is the baby on tour with her. >> yes. she's here? >> janet if you're watching, hello. you've got a home here in the lot of your dancers, your dee jay are fantastic and so are you. welcome back janet and thank you ladies. thank you gentlemen. >> thank you the show will be lit tonight. >> it will be lit. make sure you guys are there. >> if you have tickets, man, you're lucky. capitol one arena will be lit. miss janet jackson in the house. dj active, her dancers in the good day loft. >> thank you guys. >> thank you. >> thank you. >> back over to you. i'm going practice. >> hey. >> i don't think she realizes if she goes on tower how much work it will be. >> my gosh. >> makes running a marathon look easy. >> that's next year, wis. >> my bad i get the years mixed you. >> 7:45. we'll head into the good day cafe the countdown to thanksgiving officially on one week from today. this morning we'll start at the beginning and we're going to show you how to wire guests with appetiz

janet lucich: it was horrible. liz: janet lucich was out of town when she got a call. her husband and kids were caught in the middle of it. janet: you stop breathing. i thought if they were dead, my heart would break. liz: with flames nearly on top of them-- rick lucich: fire is coming this way. liz: rick lucich and his sons had only one way out. rick: it was a life-and-death situation. liz: they cut their way through thick brush and hiked down these hills to safety. liz: the area where we're standing now, did this all burn? rick: oh, yeah, everything burned. as far as you can see, everything was burned. liz: janet and rick retired on 40 acres near a town called mokelumne hill, 60 miles east of sacramento. the butte fire, as it's known, destroyed everything they own. janet: oh, it was lot of memories. liz: the fire burned 70,000 acres and leveled more than 500 homes, and it all started when a single tree, a grey pine, a hit a power line. mike: pg&e knows about the risks. liz: attorney mike danko represents the lucich family. he says a pg&e contractor should have cut do

yellen is janet yellen it's worth a minute to stop and say janet yellen has done a great job as a fed chair and will be the first fed chair since 1979 who doesn't get reappointed. that's been true regardless of party, this has been a very nonpartisan thing. jerome powell -- >> reporter: any concern about powell on regulation, wall street regulation? >> powell has aligned himself with janet yellen on a regular basis, and that is a good sign, but look, this is what hearings are about. i'm going to ask him some tough questions and see what his answers are. >> reporter: elizabeth warren, thanks so much for being with us. >> thank you. >> kelly, back to you. >> all right our john harwood speaking with senator elizabeth warren thank you both very much. >>> how much of an impact will the iphone x have on apple's earnings guidance? we're going to have instant reaction to the tech giant's results coming up. we're back in o.tw >>> let's head back over to julia boorstin with an update on cbs' earnings. julia? >> yes, an update, kelly, cbs though it missed the top line on revenues earnings actual

janet: dice que estas denuncias lo estÁn perjudicando.sona que no le gusta la alternativa. janet: el senador demÓcrata que enfrenta acusaciones, ahora de otra mujer. asegura que el ex comediante le tocÓ el trasero durante una foto. el senador, al igual que el congresista estÁn siendo investigados por el comitÉ de Ética del congreso. al momento ninguno de los dos ha ofrecido su renuncia. esta psicÓloga dice que serÍa contraproducente si los casos quedan sÓlo en una disculpa pÚblica. >> el problema es lo que pasa despuÉs. hablar de nuevo de esto que me causÓ tanto dolor. janet: nueve polÍticos han sido acusados hasta el momento de acoso sexual. >> el mÚsico nick carter tambiÉn negÓ las acusaciones de acoso. carter, dijo que estÁ impactado y triste por las acusaciones . agregÓ que la artista nunca le manifestÓ que el encuentro no fue consentido por ella. si usted aplicÓ para la ciudadanÍa estadounidense,le explicamos cÓmo evitar que su tarjeta verde complique los trÁmites. uber trata de solucionar un robo de datos con el tiemp jugando en con

janet yellin, a woman. how should we read that?so, i think-- you know, it's-- it's not any bad mark against janet's tenure as fed chair that she was not renewed in office. if you look at what she's achieved, you know, she took a fra jail recovery and brought to safety. she took unemployment down from very high levels to historically quite low levels today. she did so with the backing of a number of important figures at the fed. one of them is jay powell. and i think she'll feel comfortable handing off to him as her successor. >> woodruff: krishna guha, thank you very much. >> thank you. >> woodruff: stay with us, coming up on the newshour: an explosion of tech jobs creates a housing crunch in silicon valley. and a brief but spectacular take on investing in the impossible. but first, when it comes to providing innovative health care, pakistan is not a country that usually comes to mind. but in karachi, one public- private partnership is trying to address some of pakistanis' most pressing medical needs. in cooperation with the associ

president donald trump considered five names including current fed chair janet yellen before choosing powell who has served as a fed governor since twenty twelve a soft spoken centrist powells name has been circulated as a top contender for over a week. as president there are a few decisions more important than nominating leaders of integrity and good judgment to hold trusted positions in public office and few of those trusted positions are more important than the chairman of the federal reserve powell sixty four has a background in law and joined the fed in two thousand and twelve he supported janet yellen store action in setting monetary policy and stepped in line with her post financial crisis plans even helping to develop them. inside the federal reserve we understand that monetary policy decisions matter for american families and communities i strongly share that sense of mission and i'm committed to making decisions with objectivity based on the best available evidence in the longstanding tradition of monetary policy independence powell will replace this woman as fed chairman ja

janet yellen has agreed that may be indeed necessary.g for a sharp break or reshaping the fed in his image, but continuing a very successful trend. julie: we are just showing his cv. background play into monetary policy in the way he looks at the economy if we get tax reform done? and would republican be more inclined to the supply side notion of tax reform and tax cuts pain for themselves with economic growth and whatnot. if that is the case, the tax reform is actually increasing the speed limit of the economy, then the fed will feel less need to get in front of that by tightening policy. just a footnote, i think that was a key litmus test of everyone running for fed chair, and that may have impeded the chances of the more hawkish folks like john taylor. julie: being go. fed process is always politicize, but we have not seen trump slam the attorney general on twitter. >> that has been a surprise to us. the other thing he has not done is tweet economic data. scarlet: we're applauding him for not breaking economic data? ok. just wanted to

janet yellen avoided comment on that. she did suggest that she is very worried about the rising level of debt in the united states and the debt to gdp ratio. as fed chairs usually do put it back on congress, you should do something about that. mark: so much to talk about. the lack of governors, she was asked how things work without the governors. it has been a long time with a gap in the fed board of governors. it becomes problematic eventually if donald trump does not start filling these positions. >> it does, you will have three governors and only one of whom has a doctorate in economics and any large-scale economic training. they need more people who know what they are doing and how what happens in the economy. not to disparage jay powell and his ability. the fed has a lot of responsibilities, including bank supervision and running the payment system. things beyond monetary policy. those are divided beyond the governor and although janet yellen put a brave face on it, it is obvious that with fewer people doing the same

showing the fed dual mandate, here's why this by the dow janet yellen and others are confident inflation will rise, because employment has fallen so much. but look at this. is feds key inflation gauge back from 1% to 1.3. speaking janet yellen, in new york, acknowledged the dangers of inflation saying the factors of inflation expectation have fallen a little bit. that's a bad sign if you want inflation to rise again. then we got the fed minutes. and that seemed like a more deeper discussion among those saying yes inflation will rise, we are on the path of gradual rate hikes. high debtan't raise we can't rate hike again until --see inflation's and inflation is on a sustainable path higher. let's take a look at the fed week ahead. a lot going on on monday. a stock ally -- staunch ally is

i saw one reflection on who he is, basically this is janet yellen without her?”nk that is a fair comment. he is, interestingly, a lot of pick up this morning about the fact he isn't an economist. that may be a good thing. if you talk to economist, you get different opinions, but he is a balance, it seems, in terms of monetary policy, that to your point means probably he will continue a similartrip to means probably he will continue a similar trip to read on fiscal tightening that we've seen from janet yellen. an interest rate rise here and there, perhaps one next month? i think that is right. in the uk, of course, in coming into this rule, just as the republicans are seeing a massive, massive tax cuts, mainly the business, $1.5 trillion stimulus over the next ten years or so, the question is will he want to pull levers or will he want to do the president's bidding and get the economy really improving and consumer feelgood by the time the next election comes around. there is a suggestion they will be around the same lines and as much as he would like to ease back

so janet yellen's term is up at the beginning of february. the senate has to confirm him before then. he is expected to be confirmed and the democrats wanted janet yellen and the republicans generally wanted someone more conservative. they have talked about john taylor or kevin worship. but powell is, most senators seem more or less ok with him. it is not to say he will get yes votes from everyone but he is expected to easily clear the 51 vote threshold. host: in your story about the upcoming pic, you note that unlike janet yellen, powell was trained as a lawyer rather than in economist, though he has worked in the financial world for a lot of his career. issue for him in the senate confirmation hearing? guest: potentially. the people who are fed observers and work at the fed, they do not seem to view that as as much as a handicap because he has been at the fed for five years, but it is definitely a different style and it raises questions about how much he would have to lean on staff in times of crisis, given that he is not an economist himse

janet, thank you very much. we appreciate it. for the past four years, she has served with dedication and devotion and we are grateful for her total commitment to public service. the federal reserve is one of the most important institutions in our government. it is respected all around the world, and is crucial to our economic prosperity. i am confident that with jay as a wise steward of the federal reserve, it will have the leadership it needs in the years to come. thank you and god bless you all. now i would like to invite jay to say a few words. thank you. thank you very much. [applause] >> thank you, mr. president. thank you. thank you very much, mr. president, for the faith that you have shown in me through this nomination, and i'm both honored and humbled by this opportunity to serve our great country. if i am confirmed by the senate, i will do everything within my power to achieve our congressionally assigned goals of stable prices and maximum employment. i want to thank my wife alyssa for love, support and wise counsel. w

close ties to wall street meaning if you look at regulation probably he might be a bit milder than janet yellen has been other than that you could say it's the most boring decision the u.s. president could make he stands for continuity so he will probably follow up where janet yellen is leaving the federal reserve and yet to me asking is this seen there on wall street is this seen as more of a political decision than an economic decision after all and as you said jerome powell is not seen as being that different from in a janet yellen in terms of policy. yeah well i mean donald trump said that he would like to leave his own mark and that's why he wants to bring a new fed chair and is not going to continue with janet yellen so far the new administration hasn't really achieved them that much when the time still takes reform to infrastructure spending or to a new health care reform but the u.s. president is very proud of how wall street is doing we're going from one record high to another and as i mentioned still your own paul's stands for continuity and that's what wall street actually lik

janet yellen would normally be expected to serve a second term but because she was appointed by former president barack obama that is out of the question for the current white house by replacing a fed chairman only after one term president donald trump looks set to break another tradition. view this you know as my colleague last last you've been in the u.s. for a long time reporting on wall street and on the fed but your own paul be a good choice i would say he is definitely a solid choice is a safe choice as we just heard he's been on the order of fed governors for five years he has some experience he is an interesting choice in this much as he does not have any formal training in monetary policy is a monetary it cannot mix he's from the private sector but i mean as i said he's been on the board of governors for a while he has gained a lot of experience and if you listen to what his colleagues at the fed governors have said about him he seems to be a consensus maker he seems to be experienced enough for the job so it's definitely a safe choice you said that he's been in the private se

of what he had said usually during the campaign when he was running for president everybody knows janet yellen has been doing a very good job. and as we've also heard it is tradition for american presidents over the last couple of decades to reappoint effect chairman even if he was originally put in place by a president from the opposing party bush did that with greenspan and obama did that with bernanke it for trump it seems it was more important now to just leave his mark in just get a trump person in place than it was actually about policy changes that's surprising is it he drops going to announce his choice later this afternoon is there any chance that it's going to be more paul was looks pretty solid now after what we just recently heard but with trump of course there's always surprises and he has in the last couple of days really been all over the board here all over the map he said yellen is definitely a contender and ironically he even said john taylor would be in the running he likes him too even though john taylor also a member of the fed is standing policy wise for the exact

jon: janet back on capitol hill very shortly -- janet back on capitol hill very shortly. -- janet yellenmberg. ♪ janetoments from now, yellen will testify before the congressional joint economic committee. she will discuss her latest outlook, 24 hours after the nominee, jay powell, had his confirmation hearing in front of the senate. around the table, michael mckee. are we expecting to see any daylight between what we heard yesterday and what we are about to hear today? michael: no. pretty much the same thing jay powell said. the economy is growing and the labor market is getting stronger and wages need to go up a little faster, but that is starting to happen. inflation should rise and that means we get a few more interest rate increases. jon: stephen has done the compare and contrast of the statement today in the statement yesterday. he said the powell approach has a close ended nature. we expect interest rates to rise somewhat further and yellen is more open ended when she says we continue to expect gradual increases. this seems very nuanced to me. michael: i see some angels dancing on

it was business as usual under his successor janet yellen at least at first now she's opened the door to gradual rate increases amid stable growth in the us the federal reserve stronger intervention in the economy stands in contrast to the policies of the european central bank which has favored a lighter touch and focuses on inflation the fed reacts to developments in the job market ellen's term ends in february and this man may replace or jerome powell the former investment banker is a republican and already part of the fed's governing board markets look ready to welcome such a choice his nomination would signal continuity another possible choice of fed chair could be stanford university economist john taylor but his chances are considered slim and analysts caution that he might be too quick to tighten policy. of course janet yellen might still stay on theoretically she's allowed a second term she was appointed by former president barack obama in the past u.s. presidents have tended to retain the fed chair is chosen by their predecessors if donald trump decides to replace yellen it w

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janet yellen's 10 you're with the federal reserve.ne page resignation letter sent here to the white house earlier today, trish. trish: the market kind of saw this one coming. at least so far not a huge reaction among investors that the dow still up considerably. joining me with reaction, chairman, editor-in-chief of forbes media, steve forbes and moody's chief economist john lonski. steve, what do you think her legacy will be for the fed? >> more of a seat warmer. she didn't change the policies substantially of bernanke. had some tweaks on it. no big push. no big push to reduce the bloated portfolio. no big push to get the get credit markets. no deregulation of banks which hurt bank lending. she will go out with a shower of praise but i think the record is pretty spotty. trish: if you go back in the history books, 30 years from now, and you look back, will she get blamed for a few things there or all bernanke? >> mostly bernanke. trish: okay. >> but she didn't undo bernanke. trish: john lonski, going into jerome powell, are things goi

central bank's board he is one of five candidates interviewed for the role including current chair janet yellen his term finishes in february helen fisher reports it is my pleasure and my honor to announce my nomination of. powell. to be the next chairman of the federal reserve this is the man donald trump wants to steer economic policy in the u.s. if confirmed drone poll over the next chairman of the federal reserve a position many call the second most powerful job in the government inside the federal reserve we understand that monetary policy decisions matter for american families and communities i strongly share that sense of mission and i'm committed to making decisions with objectivity based on the best available evidence in the long standing tradition of monetary policy independence the decision to replace janet yellen is not a surprise but it is a break with precedent the last three fed chairman more automatically be appointed even by presidents of the opposite political party i think it's very much a political decision and so very much a desire for president truong to say that he

while it sets interest rates its job essentially is to maximize employment and stabilize prices janet yellen to control in twenty fourteen the u.s. was through the wash to the financial crisis in a first year g.d.p. the best way to measure a country's economy was a two point six percent unemployment was six percent inflation was point seven percent according to the latest figures g.d.p. is up to three percent unemployment is down four point two percent and inflation is just half of one percent with a record like that many observers doubt there will be radical change with a new person in charge it seems in appointing power it's going to continue. the federal continue in its route. pursuing lower interest rates in the president seems ok with the beyond that he had expressed much interest in what's going on in the. poll is a lawyer but he has said he's a fed governor for five years and is no saint for one of the biggest jobs in washington on global finance alan fischer washington thank you joe watkins is a republican political strategist is joining us live from philadelphia always good t

scarlet: is a possible janet could step down before february.wn after the december meeting? could. i think she has too much respect for the institution, and the stability of the institution. she will serve her term out, especially with someone like a powell who is following her. the three much a continuation. >> scarlet, when are we tomorrow? 2:00 p.m.? scarlet: we don't know. lookinge, what we are for is the god that we make as chairman and vice chairman. and i think we are really looking for sandy koufax and don drysdale. we are looking for the heroes of our youth, the doctor heroes. they are just regular economists and put their pants on one leg at a time, right? you -- i don't know what a non-economist does, but maybe jay powell doesn't wear pants. says going to be hard to exactly how this changes things, but we do know, i think your larger point is correct. they are doing the best they can. it may not be what everybody wants to we should see relatives continued performance. scarlet: let's do the best we can with our guests as to who the nex

four open seats with janet yellen announcing she will step down.e also have a president of the new york fed stepping down and four opening -- opening spots. in total, we now could have six out of 12 voting members of the fomc the new voting members. it is a wildcard and something to watch out for. shery: where art -- vonnie: where are yields going? >> 10-year, we are at the bottom of the range and they will continue to rise. we should not expect it to be much higher rates. ,e have been saying all along you have to look at rates in a global context. 235 in 18 year may seem low yield to us, if the alternative is a german bunds and you are in germany, and japan, at zero basis points, a high-yielding bond. we think rates will continue to rise. the curve will flatten and the race right will be muted. relative.rything is thank you. vonnie: let's take you to the first word news. >> president trump is continuing his war of words with basketball father lavar ball. president trump called him ungrateful and ball has downplayed the role of his son's release fr

a janet yellen just -- janet yellen this five -- janet yellen testifies a joint committee in congressadd tore six others to these top three. the treasury secretary on tuesday, speaking at the treasury market conference. the new fed president will also be speaking. this is at the new york fed. a snapshot of the 12 regions, the district banks. a meeting on the 12th and the 13th. expect it to raise that key rate almost 100%. as ahas been mentioned possible member of the board of governors is going to be speaking here on trumps economic agenda. 3.0, and we have the fed's key inflation gauge. >> central banks around the world are also on the tightening path. it looks like the bank of korea maybe next when they meet this week. >> people have been holding their breath to see what happens. they meet thursday according to a survey done over the weekend. key will be raising that rate for the first time in six and half years. let's take a look at what they are looking at now. it has been coming down for six years. up 3.6% driven, by exports. has been aive months big driver. you do have inflation

janet yellen's term is up february three. senate banking committee has to get this done in the next couple of months. heare meantime, we will what the white house has to say about the next fed vice chairman. haidi: the boe raising its key rate for the first time in a decade. they did it and sterling fell. i guess the statement was responsible for that. why? >> the most dovish rate hike in history is what people are saying. they kept the key rate on a seven-to vote, raising it by 25 basis points. mark carney the head of the bank of england mentioned brexit worries, gdp growth below potential, weak productivity, and said it is time to pull back looking at inflation. let's listen to what the boe said earlier today. >> with unemployment at a 42 year low, inflation above target, and growth just above its new lower speed limit, the time has come to ease our foot a little off the accelerator. that will help to bring inflation back towards its 2% target while still supporting jobs and growth. btvet's jump right into 4025 and see a re

general pollo who has been nominated as the next fed chief has generally supported the policies of janet yellen his predecessor and therefore is expected to remain cautious about raising interest rates too quickly. if trump had his way this man would head of the most influential central bank in the world jerome powell a former private equity executive has been sitting on the governing board of the federal reserve for years analysts expect him to hold on to the policies of his predecessor janet yellen that means he'll adopt a cautious approach to raising interest rates but the president's pick still has to be confirmed by the senate powers employment would be considered a good compromise when acceptable to the democrats and republicans would assume his post in february twenty. third and with much more on this is crossing over now to the to our man of wall street. and the entire process of nominating the chief was a very unorthodox the us administration was floating names quite openly quite loudly hall much damage does that do to the office of the fat. well i mean the costing show is over

central bank if confirmed by the senate paul would replace janet yellen as the nation's top monetary policy maker funny from our business desk is here now to tell us about this development from the white house i mean we know his name jerome tal's on e who is what we also know that it's no surprise that he's been nominated but don't troll because he's seen as a very pragmatic policymaker brand and there's more of course in fact the way he's doing his policy doesn't differ that much from janet yellen. therefore we do not expect any big changes when it comes to an interest rate hike he's seen as a person who is rather soft on that was rather stable and that the peers more. if trump out his way this man would head up the most influential central bank in the world jerome powell a former private equity executive has been sitting on the governing board of the federal reserve for years analysts expect him to hold on to the policies of his predecessor janet yellen that means he'll adopt a cautious approach to raise interest rates but the president's pick still has to be confirmed by the senat