you can see the senate banking committee decided to put this out on the table. let's just run through. as part of our fed team, i received these under embargo. i've had a chance to look at this. powell is expecting interest rates to rise somewhat further and the size of the balance sheet to gradually shrink. is this a surprise? no. we know this is the path the fed is on. there's nothing in here about inflation and the fact that it has fallen short of the fed's target. the fed must retain flexibility to adjust policy in response to the economy. subtle, nuanced way for jay powell to make it clear, as fed chair, i will be watching the economy, conferring with my colleagues? i will not be looking to the white house. i will not be looking to congress to decide what to do. he makes it clear that this is the duty of the fed. about thelks financial system -- of course, everyone is wondering if he will be on board with deregulation -- he says, the economy is stronger and more resilient than it was a decade ago. he also about the financial system -- of course, everyone is

the discussion. >> with the busy week ahead for congress our live congress includes the senate banking committee tomorrow considering jerome powell to be the next federal reserve chair and that will be live tomorrow at 10:00 a.m. eastern. also the senate budget committee views its tax reform bill. see that live at 2:30 p.m. eastern on c-span3. on wednesday the nomination of alex [inaudible] to replace tom price. live coverage at 9:30 a.m. eastern on c-span3. a billse takes of requiring members of congress and staff to take up antidiscrimination and harassment training. c-span.org or with the free radio app. steny hoyer held around table discussion on the opioid epidemic. the surgeond by general as well as local law enforcement and emergency management officials. this is one hour 35 minutes.

i want to welcome the chairman of the senate banking committee who has don an incredible job. great job. it is my pleasure to nominate jerome powell to be the next chairman of the federal reserve. congratulations. jay is joined here by his wife and his two sisters. congratulations to you all. take that bow. you deserve it. thank you very much for being here. today is another important milestone. in just a short time, we have already made incredible strides. unemployment is at its lowest level in more than 16 years. you know that very well. you are happy about it. we have had back to back quarters of 3% growth. we are doing better and better every single week. if we are to sustain all of this tremendous economic growth, our economy requires sound monetary policy and prudent oversight of our banking system. and is why we need strong steady leadership at the united states federal reserve. i have nominated jay to be our next federal reserve chairman. it is so important because he will provide exactly that type of leadership. he is strong and committed and smart. if he is confirmed

week ahead for congress, we will have live coverage of two significant hearings, first, the senate banking committee considers jerome powell to be the next reserve.the -- federal reserve. health committee will consider his nomination at 9:30 a.m. eastern on c-span3, live coverage of two key hearings tuesday and wednesday. the c-span bus is on the that the capitals tour, visiting every state capital and hearing about each state priorities. we kicked off the tour in september 15 in dover delaware and now visited 12 state capital's. our next up is tallahassee, florida. we will be there on december 6 with light injuries -- live interviews. senators werets brought to honor john kerry. he lived -- received a m achievement award. this is an hour and a half.

the senate banking committee newiders a confirmation, and the focus is on the president's picked to replace tom price is the health and human services secretary. they will consider his nomination at 9:30 a.m. eastern on c-span3. online at c-span.org, or listen live with the free c-span radio app. housing and urban development secretary ben carson spoke at a habitat for humanity construction site in washington dc, where he and other federal workers were volunteering during thanksgiving week. this is 10 minutes. corrine: good morning. i corinne mcintosh douglas, am chairman of the board of habitat for humanity of washington, d.c., or d.c. habitat. we are pleased you can join us to see what goes on behind the scenes at d.c. habitat, where we have been building homes for low to moderate income families for nearly 30 years. we are very excited to be building with a volunteer team from the department of housing and urban development. you are here with our americorps volunteers and crew leaders, d.c. habitat staff and family partners, all of whom are an integral part of our projects focused on rev

the week ahead, featuring jay powell before the senate banking committee in a fed chairman confirmation, that and a little bit more. this is "bloomberg real yield." ♪ ♪ jonathan: i am jonathan ferro for our audience worldwide. this is "bloomberg real yield," live from new york city. time for the final spread. coming up over the next week, outside of cyber monday, the u.s. congress gets ready to work on the tax overhaul bill. the effort continues elsewhere. the fed chair nominee jay powell will go before the senate banking committee for a confirmation hearing. current fed chair janet yellen testifying in congress. then you have the bank of england financial stability report and the opec meetings as well. joining us is lisa abramowicz, rob waldner with investco, and alan higgins with coutts, over in london. bringing up what possibly has been one of the biggest nonstories of the year, the concerns around the composition of the federal reserve. the chair pick has really been quite consensus. the names around the vice chair, very much in a similar vein. is it something you need to worry abou

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 say congratulations to you all. please, take that bow, you deserve it. thank you for being here. today is another important milestone on the past to restore economic opportunity for the american people. and just a short time, we have already made incredible strides. unemployment is at its lowest level in more than 16 years. you know that very well. you know that very well, you are happy about it. we have had back

first, the senate banking committee considers jerome powell to be the next chair of the federal reserve. that's like tuesday at 10:00 a.m. eastern on c-span. wednesday, the focus is on alex azor, present trump's pick to replace tom price as health and human services secretary. live coverage of two key hearings tuesday and wednesday on c-span and c-span three. online at cspan.org, or listen live with the free c-span radio app. >> a quick update on the white house briefing now scheduled for 3:00 p.m. eastern. we will bring you that live on c-span2. next, colorado's first latina house speaker and the president of planned parenthood join a panel of progressive activists to talk about the resistance to the trumpet ministration policy. this was one of the panels looking at the trump presidency at the annual texas tribunal festival at the university of texas in austin. it is about one hour. [applause] >> i am political correspondent for cbs

with a bazooka had for congress, our live coverage includes the senate banking committee tomorrow considering jerome powell to be the next federal reserve chair and that will be like tomorrow at 10:00 p.m. eastern on c-span. also tomorrow, the senate budget committee views is tax reform on c-span3, on wednesday, the senate health paper -- considers the housen wednesday, the takes of a bill requiring members of congress to take anti-harassment and antidiscrimination training, live coverage of congress this week on the c-span network online at c-span.org or with the free c-span radio app. >> mick

faces thatome powell senate banking committee, he will get questions about that. t yellen's term is up february three. the 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.

. >>> with a busy week ahead for congress, our live coverage includes the senate banking committee tomorrow considering jerome powell to be the next federal reserve chair. that will be live tomorrow at 10:00 a.m. eastern on c-span. also tomorrow the senate budget committee reviews its tax reform bill. see that live tomorrow. on wednesday, the senate health committee considers the nomination of president trump's pick to replace tom price.

bank is likely to raise rates in december touring its next policy meeting powell told the senate banking committee the case for raising rates a strong the rate hike is likely to range between one point two five and one point five percent and it would be the fifth in two yes despite being a republican paul has said that the u.s. central bank will continue his predecessor's policy of raising interest rates grab to me continue to consider. let's bring in our financial correspondent sophie ski in new york now sophie investors will have been listening closely to what jay powell had to say how all they reacting to his proposed normalization of interest rates. well pretty positive way helen are when it comes to interest rates powell is quite close if not completely in line with janet yellen as investors love this because that makes him predictable he might move a little faster though with further rate hikes then yellen might have done that something but in a hearing today in front of the senate committee he declined to give a specific answer on whether the central bank would raise rates later this month

also, i want to welcome the chairman of the senate banking committee, who has don an incredible job, mike crapo. good job. appreciate it. as president there are few doingmore important than nominating leaders of integrity and good judgment to hold trusted positions in public office and few of those trustes positions are more important than the chairman of the federal reserve. accordingly it is my pleasure and my nomination of jerome paw toll be the next chairman of the federal reserving. congratulations. >> thank you, mr. president. >> jay is joined here by his wife, lissa. and his two sisters, monica and elizabeth, and i say congratulations to you all. please, take that beau, please. you deserve it. >> thank you very much for being here. today is another important milestone on the path to restoring economic opportunity for the american people. in just a short time we have already made incredible strides. unemployment is at its lowest level in more than 16 years. you know that very well. you know that very well. you are happy bit it. we have now had back-to-back quarters of 3% growth

. >>> with a busy week ahead for congress, our live coverage includes the senate banking committee tomorrow considering jerome powell to be the next federal reserve chair. that will be live tomorrow at 10:00 a.m. eastern on c-span. also tomorrow the senate budget committee reviews its tax reform bill. see that live tomorrow. on wednesday, the senate health committee considers the nomination of president trump's pick to replace tom price. live coverage of congress this week on the c-span networks online at cspan.org or with the free c-span radio app. >>> a look at the state of u.s. turkey relations. this discussion also focused on the impact of a turkish iranian gold merchant accused of violating u.s. economic sanctions against iran who is about to stand trial. this is just over an hour. >> good morning. thank you for joining us. i'm pleased to see that some people are still hungry for

reserve suggests that the central bank is likely to raise rates in december khalid told the senate banking committee that i was for raising rates as strong as life it was going interest rates to between one point two five and one point five percent of the u.s. central bank will continue its predecessors policy of raising interest rates gradually. also hinted at a lighter touch for regulation of the banking sector saying that current rolls were already quote tough enough. federal prosecutors in the u.s. and western gating with the ride sharing company deployed a team of corporate spies to steal trade secrets from its rivals former manager disclosed the investigation on tuesday he said that the firm set up a special units to target overseas competitors he said the group kept its work off computer systems testimony was part of a google lawsuit against which alleges that he was told trade secrets from google's driving unit has been in hot water recently over its cover up of a major hack and data theft. now bitcoin is followed on fire clocking a new life time high above ten thousand dollars rising nine p

we will have full coverage of jerome powell's confirmation hearing before the senate banking committee 10:00 eastern right here on bloomberg. this is bloomberg. ♪ ♪ live from bloomberg's new european headquarters in the city of london, i'm mark barton. vonnie: i'm vonnie quinn in new york. this is "bloomberg markets." it is time for our stock of the hour, reversing course, is jcpenney. shares have been up 2% only to reverse. abigail doolittle is here. stocks are slightly higher. abigail: it is. the stoxx are all over the map relative to holiday shopping season 2017. of ae hearing reports strong holiday shopping season, perhaps the best in a number of years. malls are busy and jcpenney has highlighted its, activity of double digits over the weekend, consistent what we are hearing from adobe analytics talking about things getting the up over 8%. lots of strength. we have profits. this company has been struggling quite a bit. but since it reported its third quarterback on november 10, the stock is up closer to 20%. perhaps investors wanted to capture a little game. we have a short interes

[inaudible] >> with a busy week ahead for congress, live coverage includes the senate banking committee today considering jerome powell to be the next federal reserve chair and that will be live today at tinian eastern on c-span. also today the senate budget committee reduce its tax reform bill. you can see that live at 2:30 p.m. eastern on c-span3. on wednesday the senate h.e.l.p. committee considers the nomination of president trump's pick to replace tom price as health and human services secretary. live coverage at 9:30 a.m. eastern on c-span3. also in winsted house house tap the required members of congress and staff to take anti-harassment and anti-harassment and anti-discrimination training. live coverage of congress this week on the c-span networks,, online at c-span.org or with the free c-span radio app. >> now former speechwriter for president nixon through obama share what it was like working for the respective offices. he also examined the current trump administrations messaging and communication style and andf the president's tweets have affected and shake his presidency. --

>> i see that look often senate banking committee when we work together. >> i cannot agree more with senator brown. there is another way, one-two punch would be to accept my bring jobs home act which stops the write off of companies sending jobs overseas. we actually pay for the move if you're an employee right now. you may lose your job, pass things up and as a taxpayer your whole community pays for it. they're talking about a terrible inequity were paying for jobs be moved overseas but if someone is moving from ohio to detroit for a new job, they can't adduct it. that seems absurd. >> the clerk will call the role. [roll call] [roll call] [roll call] [roll call] [roll call] [roll call] [roll call] [roll call] [roll call] >> the amendment is defeated. turn to brown number five. >> brown number five says patriot employers, some of you at the white house only a few the democrats were invited to meet with the president of the cabinet room. he asked for his ideas, i gave him too. one us an amendment called the patriot employers act. if a company does the right thing it pays good wages, p

. >> tomorrow the senate banking committee holds a hearing for jerome powell. watch 10:00 a.m. eastern. later, the budget committee reformers tax legislation that would include opening up the arctic wildlife area for gas and oil drilling. p.m. onesday: 2:30 c-span3. listen on the free c-span radio app. >> c-span buses traveling across the country on our 50 capitals tour. we recently stopped in baton rouge, louisiana, asking folks will what is the most important issue in their state. >> the number one issue continues to be flood recovery. in baton rouge we had a historic flood in 2016. my citizens in my district right now are forced to do with issues regarding sba loans. the government considers those loans to be a duplication of benefits. right now we have trouble getting those families that dollars for them to conduct -- to recover, because under the program now they have to deduct the monthly they receive under the sba loans. we are working with our congressional delegation, but it is a tough issue in our community. >> a most important state issue is forced restoration. forest

david: we are watching a live shot of the room where the senate banking committee will take place. at this and what they are doing here, what is the role of central banks to issue their own form a block chain currency. ? even the vis has written about responsibility. >> countries like sweden have been at the forefront of discussing it. i wouldn't be surprised if you take a trip to stockholm in five years, you can't get krone, you can only get electronic. jonathan: they are already pretty much there. many of the scandinavian countries. >> i think that storyline will develop. the thing about bitcoin and private currencies, people don't want the government seeing every transaction in it. there has to be some delineation the right and doing thing with your transactions when you are supposed to like pay taxes when you buy something from someone. that will be the hard part about private versus public. i agree. central banks will issue block chain currencies. jonathan: let's go to the main event. what are we looking for? >> about two hours. jerome powell has been confirmed twice in the la

elsewhere, jay powell will go before the senate banking committee for a confirmation hearings. chair janet yellen testifying in congress. then you have the bank and financial stability report and the opec meeting. joining us is lisa abramowicz, rob waldner and alan higgins from london. alan, bringing up with possibly has been the biggest nonstory of the year, the concerns around the composition of the federal reserve. the chair pick is been quite consensus. very much in a similar vein. is it something you need to worry about going into 2018? alan: worry is pushing it but i think it will be more hawkish. i would add i would be interested to see if they continue to emphasize financial conditions. when you look at the fed tightening, is not about inflation as janet yellen said. it is a big puzzle. it is about growth. i think financial conditions, and bill dudley, knowing can from his goldman sachs past, you have seen that mentioned in quite a few minutes or statements from people at the fed. i would be interested to see if that emphasis continues next year. if it does not, maybe we

first, the senate banking committee considers jerome powell. wednesday, the focus is on president trump's pick to as health andice human services secretary. the house will consider the p.m. -- 9:30 9:30 a.m. wednesday. >> the smithsonian national history has aral new addition, first lady melania trump's inaugural gown. she presented the dress. this is 15 minutes. >> ladies and gentlemen, please theome director of smithsonian national museum of american history. [applause] >> the 13th secretary of the smithsonian institution,

the senate banking committee considers jerome powell to had the federal reserve. wednesday, president trump's take to replace tom price as health and human services secretary. hiscommittee consider nomination

that as they prepare testimony he'll deliver today at the start of his hearing before the senate banking committee also said the fed would consider ways to ease regulatory burdens on banks but prevent another financial crisis like the one in 2008. wall street will be paying close attention to his testimony today. meantime, a slide in oil prices yesterday. retail shares posted solid gains. in the end the dow gained 22 points. the nasdaq ended the day 10 points lower. cyber monday looks to have been the biggest online shopping day in the u.s. ever. expectations are consumers spent just over $6.5 billion according to an analytics computer. small electronics and clothing were the top sellers and more of us are using our phones to shop. web traffic from mobile devices including tablets is expected to top desk top computers when all is done. >> all right. thank you so much. >>> still to come, robots are flexing powerful new muscles that are inspired by delicate designs. makes it unforgettable. like these fabulous necklaces perfect for layering. at kay... the #1 memory maker in america. ♪ every kiss begi

you will take questions from members of the senate banking committee live at tinian eastern on c-span here in the afternoon the senate budget committee works on combining tax reform legislation with a bill to open the arctic national wildlife refuge to expanded oil and gas drilling. live coverage begins at 2:30 p.m. eastern on c-span3. you can watch all of these earrings online at c-span.org and use the free c-span radio app. >> president trump held an event at the oval office honoring the native american code talkers of world war ii. code talker peter mcdonald gave the introduction. [inaudible conversations]

. >> our live coverage includes the senate banking committee considering jerome powell to be the next federal reserve chair, and that will be live tomorrow at 10:00 a.m. eastern on c-span. tomorrow, the budget committee reviews the tax reform bill. 2:30 p.m. eastern on c-span3. wednesday, the senate health committee considers president pick's take to replay -- to replace tom price. wednesday the house takes up a bill requiring members of congress and staff to take anti-harassment and antidiscrimination training. live this week on the c-span networks, online at www.c-span.org, and with the free c-span radio app. >> earlier today housing secretary ben carson joint veterans affairs secretary to talk about efforts being made to end veteran homelessness. they announced a decrease in the amount of homeless vets, and said president trump is committed to continuing that trend. >> good morning, everybody. it is

the senate banking committee considers jerome powell to had the federal reserve. wednesday, president trump's take to replace tom price as health and human services secretary. hiscommittee consider nomination at 9:30 eastern on c-span three. live coverage of key to hearings on c-span and c-span3, online at c-span.org, or listen live with the free c-span radio app. >> this week on "the communicators," we want to introduce you to the newest member of the federal communications commission,, br endan carr who has been a commissioner since august. brendan carr: thank you for having me on. astarted at the fcc as stafford back in 2012. i most recently served with the general counsel for eight months for moving into this position as a commissioner. it has been fun to serve in various capacities. host: a full plate? we have a full slate of commissioners right now. all have had experience at the agency before. we have been able to move quickly over the last couple months. it has been fast-paced and enjoyable. host: we want to talk about that. >> i wanted to talk about net n

senate banking committee held a confirmation hearing tuesday for jerome powell he's president donald trump's nominee to head america's central bank. pal presenting himself as a force for stability and continuity praising the policies of current chaired janet yellen as he seeks to take the reins from her. he says if confirmed he plans to continue raising interest rates gradually. pal told the committee thahat ten yes on from the crisisis thatt nearly brought down the worlrld financial system. at system is stronger and better prepared to m mage risk. he's of ththe reforms initiated in the wake of that crisis wouould make it possible to lighten regulations of the financial sector areas now. we will continue to consider appropriate ways to ease regulatory burdens while preserving the core reforms. of strong levels of capital in equity. stress testing and resolution planning so that banks can provide the credit to families and businesses. necessary to sustain a prosperous economy. us financials stocks rallying on pal the anti regulatory comments there was shares in jp morgan chase and ban

they will have to approve him or the senate banking committee will approve them first and then face thenate. tough questions from people like senator elizabeth warren and democrats on that panel, but the manifested for the republicans. the senate banking committee chairman told me the day it was announced that he is going to support him. all of that suggests it will be jonathan: easy for him. great work. thank you for joining us. kevin cirilli there. kit juckes will stick with us. still ahead, the route in chinese equities and the deleveraging campaign continues. will it lead across developed markets? that is next from new york. this is bloomberg. ♪ ♪ thethan: the fx market, relentless big in the euro continues. german business confidence today an all-time high. euro-dollar at a high since september 22 at 1.1879. to asia we go, where southern stocks traded, asking what happened? they saw their biggest loss since june of last year. pacific to theia economist said it is about that. -- about debt. >> correction, which may be a good thing, but over time, they have to deal with this problem.

host: our last caller in today's "washington journal," we're to take you to the senate banking committeeearing lready under way at the hearing. we'll be the nomination hearing for jerome powell to be the next chair of the federal reserve, but right now banking committee a few houseing and urban development nominees and they will turnt, to jerome powell, we'll take you to that hearing live now and see you back h

the fed governor will appear before the senate banking committee and in his prepared testimony propgsedtinuity if he's confirmed we must be prepared to respond decisively and with appropriate force to new and unexpected threats to our nation's financial stabilit prosperity, we'll bring you live coverage a lot of questions whether he thinks qe should be a permanent tool what he thinks of asset prices and inflation and regulation. >> i think you're going to hear answers you would have heard from janet yellen. i think one of the things that is surprising here is that the pick itself is very neutral it's not like when you see -- you've got the consumer financial protection bureau where there is a war. this is the opposite this man repeatedly has been confirmed. i think it will be less sir couple inspect than greenspan. i think he's very seasoned not a newcomer. >> no, as the gray hair to show it. >> that's what you conclude, huh? what do i have to show it? >> some wrinkles maybe. >> thanks a lot. i'll go get would tox -- >> you're not getting it already? >> no, i'm doing some other thing. >

the senate banking committee considers jerome powell to be the next year the federal reserve. that is live tuesday at 10:00 eastern on c-span. wednesday, the focus is on alex azare. the senate health committee will consider his nomination at 9:30 a.m. eastern on c-span3. live coverage of the hearings tuesday and wednesday on c-span and c-span3, online at c-span.org, or listen live with the free c-span radio app. >> our guest is democratic congressman raul grijalva who joins us from his district from tucson, arizona for the , thanksgiving holiday. mr. grijalva is the senior most democrat on the national committee, the 76-member progressive caucus in the house of representatives, and senator bernie sanders is a member as well. thank you for being our guest this week. lots to talk about with you. >> thank you so much. >> congressional reporter and collin wilhelm who covers congress for politico. billy, you are a first. billy: congressman, how are you? >> very good. billy a lot of news the last : couple days. most recently the revelations about the allegations against the top democ

in the text of remarks he will deliver to the senate banking committee, jerome powell also acknowledgednancial stability as the banking regulator while refining post-crisis regulatory reform. president trump intends to take a more prominent role in the tax reform debate. senate republicans are hoping for a vote on legislation this week. several gop lawmakers have not publicly committed to the bill. passes, partytion leaders will try to reconcile differences in their two bills. authorities have been warning that the volcano is about to explode with 100,000 order to evacuate. thousands of tourists are stranded with the airport closed until wednesday morning. indonesia raised its threat warning to the highest level. travel and tourism account for 10% of gdp with a bali as the most popular destination. ireland is facing a growing political crisis that could bring down the prime minister. y faces a no-confidence vote over the handling of a police whistleblower. more about thewn plans to discredit the source than it appeared earlier. the controversy could mean a snap election. turkey remains

i ask my colleagues in the senate to follow the lead of the banking committee in giving this a unanimous bipartisan vote in the united states senate so we can get this to the house as soon as possible, have it signed into law so that when we ask other nations for cooperation, they know that failing to cooperate with us is not an option or if they do take that course, they will face severe economic consequences. so i hope, mr. president, the senate will take this up without delay and that we can pass it and get it to the president's desk. thank you. a senator: mr. president? the presiding officer: the senator from illinois. ms. duckworth: mr. president, i thank my colleague from maryland for his thoughtful words on north korea. i come to the floor today to urge my colleagues to oppose the nomination of william wehrum to lead the office of air and radiation at the e.p.a. if confirmed, mr. wehrum will be responsible for implementing critical programs, like the renewable fuel standard and other key public health standards under the clean air act. mr. wehrum is part of a larger trend within p

kevin: the senate banking committee had a big meeting. senate bankinge committee chairman in charge of that committee and he says he is backing him. republicans have control of this committee. senator elizabeth warren is on that committee and she will use this as an opportunity to really question him about his policies. democrats backing off some of their criticism and some even like him. he will get confirmed and will get out of committee and get approved out of committee unless there is a bombshell. once he is out of committee, he will be on the senate floor by the end of the year. speaking in is congress next wednesday as well so it will be interesting to see with jerome powell testifying tuesday and janet yellen testifying wednesday. maybe we can wife you see what differences of tone and style and substance there could be between the two fed chairs. vonnie: the former national security adviser michael flynn's team has stopped cooperating with the president. how dangers a distraction could this be for tax reform next week? kevin: i don'

jay powell faces a senate banking committee. and probably inflation. janet yellen just -- janet yellen this five -- janet yellen testifies a joint committee in congress. add 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

the chance that powell will testify in front of a senate banking committee before november 23 is unlikelyes are to move quickly, meaning in a matter of weeks. opec index that shale oil production in north america will grow faster than expected in the next four years. the shale industry will produce 7.5 million barrels a year by 2021. that's 56% higher than opec forecast a year ago. the out put cuts this year triggered a price rally that helps american producers. british lawmakers will be allowed to see brexit impact studies within three weeks. the house of commons approved a motion calling for government research to be shown to members of the brexit committee. steve baker downplayed expectations of what the studies will show. global news 24 hours a day powered by more than 2700 journalists and analysts in over 120 countries. i'm mark crumpton. this is bloomberg. it's been 40 years since the core payment infrastructure was last built in the u.s.. isnow go to mike mckee who at the clearinghouse annual conference in new york with a special guest. james aramanda is here. talking about problem

president trump's pick for the next fed chairman has won the backing of the head of the senate banking committee is had positive talks with jay powell and considers them well quick to leave the economy. he's in line to succeed janet yellen when her term expires in the spring. he still faces a full confirmation hearing on capitol hill. an incentive path -- package foxconn chairman to guarantee tweet 5% of any potential payback if the company fails to meet investment and employment targets. foxconn aims to build a flatscreen plant south of milwaukee that can employ up to 13,000 people. vietnam has point used to help clear up typhoon damage just days before world leaders arrive for the apec summit. it's just a 30 minute drive from andsummit venue in da nang was badly hit by debris. 10 people are still missing. president trump and other leaders will attend the two pay -- today talks at the weekend. global news, 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. i'm paul allen. this is bloomberg. coming up, questions raised over nissan's quality controls ha

also, i want to welcome the chairman of the senate banking committee who has done an incredible job. mike, where are you? please, mike. great job. appreciate it. [applause] as president, 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's my pleasure and my honor to announce my nomination of jerome powell to be the next chairman of the federal reserve. congratulations. [applause] jay is joined by his wife, lissa and his two sisters, monica and elizabeth. and i say congratulations to you all. please, take the bow. you deserve it. [applause] thank you for being here. today is another important milestone on the path to restoring economic opportunity for the american people. in just a short time, we have already made incredible strides. unemployment is at its lowest level in more than 16 years. you know that very well. you know that very well. you're happy about it. we've now had back-to-back quarters of

with a busy week ahead for congress, our live coverage include the senate banking committee today considering jerome powell to be the next federal reserve chair and then live today at 10 a.m. eastern on c-span. also today the senate budget committee reviews its tax reform bill. on wednesday the senate h.e.l.p. committee considers the nomination of alex azar to replace tom price as health and human services secretary. live coverage at 9:30 a.m. eastern on c-span3. also in wednesday house takes up at the required members of congress and staff to take antiharassment and anti-discrimination training. live coverage of congress this week on the c-span networks, online at c-span.org or with the free c-span radio app. >> president trump on capitol hill this afternoon to meet with republican senators about tax reform legislation. we are inside the capitol hallways right now, and a look at the preparations as the president is expected to arrive at the u.s. capitol. [inaudible conversations] [background sounds] [inaudible conversations] [inaudible conversations] [inaudible conversations] [inaudible conv

banks. democrats will want to see him get his backing for the cautious gradual interest rate hikes we saw under yellen. kevin: senator elizabeth warren is perhaps the most well-known lawmaker on the senate banking committeessachusetts. he typically uses these confirmation hearings as a way to make a point. what point do you think the potential for 2020 presidential candidate will make against mr. powell? sarah: i think people will want to see for powell stands. right now these are the luxury of the governor to stand behind andanke or yellen's views remain a moderate. they want to know if he is on the hawkish side or the dovish side? bully see more of the same that we saw under janet yellen? a longnomy is humming and things are going well. another thing they may want to see is if and when it turns around, what will he do in response to a crisis? shery: yellen going out on top. she is testifying on wednesday. sarah: this is one of the regular congressional testimonies that a fed chair is supposed to do a couple of times a year. this is not something that is very unusual. i think yellen might use it to symmetric legacy, talk about the progress the economy has made, and you may want to offer views about what