kaplan.s is bloomberg. ♪ ♪ economics, finance, politics, this is "bloomberg surveillance." i am francine lacqua here in london. it is super thursday and the bank of england gives its policy decision in just a few hours. the central bank finds itself in a tricky position. inflationary pressure could require policy tightening. according to bloomberg economic said a rate hike could come this year if the economy remains on its current trajectory. joining us now is nejra cehic. good morning to you. what is the biggest concern for carney? inflation or brexit? juliette: that is a great question -- nejra: that is a great question, francine. it looks like he is making a shift, saying that the bank of england is moving away from thinking primarily about brexit. the expectation, the consensus view is that it is going to be a unanimous vote to keep rates on hold. there might be an upgrade to the economic forecast. bloomberg economics is predicting that it will be eight vote to keep rates on hold. what wi

curators working with billionaire thomas kaplan get down to work.ed the painting, you could see that it was signed. rembrandt had a way of signing things, just with an "r," and when it was cleaned, there was an "r" there. >> case closed. >> what's so crazy about this story is that not one person in the united states recognized the significance of this remarkably unremarkable painting. an old master dealer came from the city, and sat in the front row.old master specialist comes and walks right past the rembrandt. >> yes. >> even after the painting's authenticated, we can only guess how it ended up in the landaus' new jersey home. >> would've come from europe at some point. i think the size had a lot to do with it being able to cross the atlantic. >> the landau brothers figure it's time to do a little sleuthing into the grandpa they barely knew. >> we learned that our grandfather phil liked on the weekends to drive from paterson into manhattan, and he would hang out at this auction house. >> really? >> they sold estate sales from people who had apartm

speaking to robert kaplan at the banking series in frankfurt, kaplan gave his take on the recent marketil. >> for lack of a better word, that has been abnormal. there have been some market mechanisms the need to be looked at in hindsight, but i think that more volatility in the markets, maybe addressing some of the excesses and imbalances by having a bit more volatility is probably a healthy thing. i will be watching carefully to make sure that it doesn't transmit, so that financial conditions are over the economy. >> this is one of the things, tom and i chatted before we did this. push before the effect. where and how quickly might that manifest itself? in many ways people coming into the old studio say that the fed has a loose backdrop and can afford to tighten a little bit more. >> i'm watching for investment grade and high-yield credit spreads. other financial products, to see whether, for example, credit spreads are widening, gapping out, or if there are credit spreads in other markets. so far i don't see that, but it is something i have been watching for. the fact i haven't seen i

i also wonder about robert kaplan's speech, because he is not a voting member of the the, is he?on: no, he's not. scarlet: do his comments hold that much water? cameron: it tells you about the volatility of the market and what it is sensitive to. if the market was not concerned about potential increases in the pace of fed tightening, yes, people would ignore that. but the fact that this is not jour, notssue du even the issue of the year, i think this is being taken significantly. and we are also italy -- obviously having a handover from janet yellen to jerome powell, and was a bit of an unknown quality in terms of his thought leadership. we sort of assume he will carry on the trajectory that yellen has laid out, but even that seems to be changing of it. around the time of fed chair handovers some increase in equity volatility because of this uncertainty inherent in the trajectory market calls. julia: i want to get these performances here and the relative winners, which i assume in part is due to a steepening yield curve and financials, losing most today like the energy stocks, te

they'll be gathering, robert kaplan spoke yesterday.s -- if you joins think back to what the soothsayers have been saying from the fed, evans yesterday they outside moves on small data points, the market can be healthy, if there was an excessive buildup. other calling the moment a little bit too early? the leaders said i don't want to say it's too high, talking about markets. they did not show up to buy tenure paper last night. there is a 30 year paper auction this evening. yes, you have a debt ceiling deal. you still have a huge amount of supply coming to the market. this is timely moment to have the fed, the former bundesbank head and the chair of ubs and goldman sachs. what a cacophony of voices. anna: fascinating to hear what they have to say that demand for treasuries and the inflation conversation. also regulation is a comment you will -- the topic you get their thoughts on. >> i thought about you last night when i watched the winkle bitcoinns talking about and it has a long way to go to catch up with gold. we will talk about regu

craig kaplan, or capitol hill producer tweeting about nancy pelosi. and a letter, a members letter she has just released. here's what she says. pelosi letter to the house democrats, ahead of the budget deal vote. republicans do not have the votes to pass this caps bill on their own. house democrats have a voice here and we must be heard. these are the reasons that i am voting against this bill. that is from the democratic leader of the house. the ranking member on the budget committee, john yarmuth, craig kaplan tweeting, john yarmuth will vote yes on the budget deal if democrats cannot support this kind of compromise, congress will never function. here's where things stand. the senate as of yet has not taken up the measure just yet. we expect them to do that shortly. you can follow that coverage of course over on c-span2. when they complete their work, if they pass the measure, it will be going over to the house first to the rules committee, and then to the house floor. it will be -- it will include the budget deal that was announced yesterday by sen

play out in the global markets >> we had a visit from an american on this side of the pond, robert kaplan is in frankfurt talking this morning some things he's saying are getting a bit of attention the non-voting member of the fed policy committee saying that he expects unemployment in the u.s. to dip below 4%. he said there will be stress in the labor market as a consequence and 2018 will be a strong year for the u.s. his forecast saying gdp between 2.5, and 2.75% he says they are near full employment they expect that to dip below 4% this year. he's seeing slower growth in 2019 and 2020. he says he still believes accommodation should be removed patiently and gradually and that any flattening of the yield curve does not worry him that's robert kaplan talking in frankfurt this morning, which segways nicely to a discussion of the bank of england monetary committee which willdeliver a decision on interest rates today with forecasters expecting no changes. joumanna bercetche joins us from outside the bank of england this morning. we heard about a flattening of the yield curve what do you expe

is busy kaplan helped a lot still active. a little light. there is good the government on ok good leave it to me the second i think that it would have created a man a man said he would have none of the next month michelle laura said you've done with you know blue moments we know that a salad is about on my best my fantasy about that i thought about about a little not going to leave. so it's not as adults i want to push them out and have to ban the one special for nothing out of them about going to. it doesn't mean that i look simple below that if i didn't call them up or come up with. that. because it was a complete with lots of time it was possible to. load. the house. yellow tell us about how long. i sent this to the police and this couldn't. be looked up pleasant course you can see from all you want to know how long she has you know the you. know. how. i think i want to end it off if they file a big bottle i want to but i would i don't have the heart in a bottle in my hands when i said i was out talking about the hundred fifty dollars i g

but there was more energy in the air. >> not only kaplan made a dent but received a dent. nick williams hit a batting practice so far and landed in the parking lot and on the top of kapler's suv and today he nearly did it again. hear from kapler about that. >>> and the third ranked team in the nation and drivers seat for the number one seed. and villanova returning home to take on depaul for senior night. they get phil booth back and the cocaptain was out four weeks with a broken hand and without them it made things interesting losing two of their last four and coming out a blowout win against xavier still a half game up on them in the conference. >> there is nothing wrong with a bumpy road and can you learn a lot from it. we never lost any confidence. we knew we played good teams playing hot and playing in a tough environment at providence and we are just not clicking but we know we still have a lot of work to do. and we did learn a lot from the games. >> don't look now but the flyers won seven of their last eight. in overtime they beat the canadiens 3-2. >>> and a heart

welcome, dan kaplan. >> thank you, commissioners. i'm here to give an overview of the budget proposal as it stands today, and as you remember, we go through a process of working internally then making a proposal to the mayor's office, which we are set to do on february 21st, and then, we'll go into a period of time where the mayor's office will be asking us questions, and we will be answering and discussing various other people will be talking to the mayor's office, as well, and ultimately, that -- that will all result in the mayor proposing a budget, which will happen on june 1st of this year, and then, the budget process will move to the legislative phase, and the budget and legislative analysts will prepare reported and analysises related to the mayor's proposal, and that will be discussed with the board and hearings will be held and we'll ultimately get to the place where the board makes some changes possibly but then ultimately votes on and approves the budget for the city, and that will happen right at the beginning of july. so

. >> kaplan views spring training differently than most.his own phone to document pitches. > these go. they are in incredible shape. a lot of smiles out there today. philly's players notice capler's presence in the weight room. he's not only watching he's lifting with them too. >> we'll be talking in the weight room and he puts four plates on. >> can he out lift you? >> yeah. four plates is pretty beast. >> capler may be the only manager in baseball in better shape than his players. >> still ahead villanova cats will likely drop further in the rankings after what happened tonight. get the best internet with the best shows and ge fios by verizon gives you the fastest internet available for only $79.99 a month online n on the 100% fiber-optic network, you can stream on up to 100 devices at once. so get the fastest internet available, plus netflix, plus up to 200 tv channels, plus phone, go to getfios.com to switch today. v >>va to show the lost at to fall 76-71twast three games. newkirk dropped in three of 19 points. hawbs win 71-55. that's s

lauren kaplan/albanyyou know it's really really busy.he traffic is getting really crazy and dangerous, and having kids and you know, people darting in and out. it's just not a very safe place.this week.. the albany city council was presented a plan that would add round abouts on both sides of the highway - that wold funnel traffic onto and coming off 80. they're also considering adding an overpass for cyclist and pedestrians.yumi simeon/albanyalways traffic. and especially when you try to make left turn at the san pablo it's really difficult. i really have to be careful when driving there. lauren kaplan/albanyi think it's just a lot of traffic. we didn't have this much traffic before, 10 years ago, especially having kids, you know, it's dangerous.right now the transportation commission is conducting an enviromental review.. with construction slated to start in late 2019. (hermela aregawi)for the most part the response to the plan has been positive.. some businesses in the area including the golden fields have expressed some concern. but

kaplan: meantime, robert also addressing the selloff at an event in frankfurt earlier today.e said "corrections are healthy, as people know the u.s. and global markets have gone for an extended run without a 3% correction in low volatility." we are joined now by victoria fernandez. rita speak with you. we are two days past the selloff thatnday, and the turmoil we saw last week as well. what lessons have we learned from it? is it safe to say that there is some sense or semblance of normality that has returned here? i think so. when you look at the last year we have had, 2017 was not what we would consider a normal year. a lot of the tailwind we had all of last year that were feeding into the market are starting to decline. i think we can expect to have more volatility. if you look at central bank support, obviously over $16 trillion on their balance sheet -- they own over 33% of all sovereign bonds, there is a lot of support that has been built in over the years, and we are just tarting to see that come off her at home and also the ecb is looking to finish their bond buying pr

re debecca kaplan says it encourage owners to take action. money raised by the tax would pay for new moem less housing and services. the proposal will be heard at a council meeting next month. >>> if you live in san francisco, you could be in debt to the irs. a new study from magnify money finds san franciscans are the most likely americans to owe taxes. 25% of taxpayers will owe something when they file this year. the average amount owed, $7,000. there is good news. the average refund for taxpayers in san francisco who qualify is about 3500 bucks. >>> hundreds of millions of property tax dollars have been awarded to dozens of san francisco nonprofits. city officials say $377 million in new funding will benefit after-school programs to create job opportunities and fund other support for youth services. the funding comes from proposition c. a 2014 ballot measure that extended things to 2041. the funds will be distributed by the department of children, youth and their families, which administers it to community organizations for young people up

the only problem is that dave kaplan says that is a fraud but , you can still find it in the fcc record. final story. the federal energy regulatory commission approved the nexus natural gas pipeline last year. this is a 255 mile pipeline that will carry natural gas from the marcellus shale to users in places like ohio and michigan. while evaluating this pipeline ferc asked to the comments on its merit. land owners and residents along the nexus pipeline route weren't shy about offering their concerns. but mary england of rising sun ohio was surprised to see that her husband glen sent a letter to ferc supporting the pipeline moving to the buckeye state for surprises more than substantive because her husband died in 1998 and this was by no means the only filing in the record. because others in ohio and michigan have complained to ferc that they did not write the pro pipeline letters posted in their names. ok. that is a lot of stories. let's review. , theow that five agencies fcc, the department of labor, and ferctb, the sec have had problems with stolen identities that made comments in the

. >> robert kaplan added market corrections can be healthy m we'll hear more from the federal reserve on february 28th when the new chairman sits for testimony before congress. the first time he'll take questions at the helm. i'm steve liesman. >> well, when the fed does raise rates, interest rates on deposit accounts also tend to rise. slowly. the fed's latest rate hike is yet to result in more money in aiverer's pockets, so p w the fedex pechted to rates, maybe four time this is year, when will being a saver pay off? here to discuss is kimbee y palmer at rsonal financial websi website, nerd wall let. good to have you. >> thanks for having me. >> when rates go up, ithotice quickl the rates on my credit cards go up. my rates on my home equity line go up. th prime rate goes up. that's all the rates that batting averabanks charge to borrows, but not on savings accounts. is is how banks make money, isn't snit. right.'s the traditional banks have been slow to raise rates. but at the same time, whave seenore movement with online bankshore offering more competitive rates. so we've seen thos

robin kaplan is a scholar at the data and society research institute she focuses on policy to deal with this information and propaganda on social media platforms do you think baseball twitter and google can address the problems of dissent from ation over their platforms without fundamentally changing their economic model no i don't these are private companies that create two challenges because firstly they are driven by their own goals and incentives that need to align with their business model things like clicks likes and shares are the metrics that are used to prioritize or d. prioritize content because that's how ad revenue is based but those signals don't actually tell us much about whether or not that content is truthful or important or more valuable do you think the companies can really solve a lot of the problems by tweaking their algorithms i don't think algorithms are actually going to fix this problem is companies need to start hiring on editorial staff and journalists people who have been located within the traditions of the news media to start informing some of the decisions

baltimore police commissioner kevin davis was fired the notice shocked many this morning as mayor kaplan pew pushed out a press release at eight o'clock this morning i'm impatient we need violence reduction we need the numbers to go down faster than they are however his appointment came as somewhat of a shock his name almost instantly brought back memories of police shootings back in one thousand nine hundred five nevertheless the new commissioner came out guns blazing with a bunch of reforms including predictive policing a computer system that can estimate the date place and even the possible perpetrator of a crime that's yet to be committed he's planning to install more surveillance cameras and deploy more patrols to troubled districts but stepping up surveillance doesn't really sound like a new plan even the department of justice advised against it both tomorrow and for its most widespread constitutional and is current replace thing has exacerbated community distrust of the police particularly in the african-american community as court hearings continue here in baltimore many fear tha

baltimore police commissioner kevin davis was fired the notice shocked many this morning as mayor kaplan pew pushed out a press release at eight o'clock this morning i'm impatient we need violence. we need the numbers to go down faster than they are however his appointment came as somewhat of a shock his name almost instantly brought back memories of police shootings back in one thousand nine hundred five nevertheless the new commissioner came out guns blazing with a bunch of reforms including predictive policing a computer system that can estimate the date place and even the possible perpetrator of a crime that's yet to be committed he's planning to install more surveillance cameras and deploy more patrols to troubled districts but stepping up surveillance doesn't really sound like a new plan even the department of justice advised against it both tomorrow and for its most widespread constitutional and is currently placing has exacerbated community distrust of the police particularly in the african-american community as court hearings continue here in baltimore many fear that there could

before but so far that hasn't stopped him hanging on to power so he al-jazeera milan hundreds of kaplan independent supporters are protesting against a visit by the spanish king to barcelona it's king philippe's first trip to the capital on capital since last october secession vote has been central government to solve the regional government after the referendum well tensions rose again last week when the prime minister suggested reintroducing spanish as the main language in schools an explosion at an electrical substation has left much of northern puerto rico without power it's a setback for the u.s. territories efforts to fix the power grid five months after it was battered by hurricane maria as the island struggles to recover many college students are heading to the mainland kristensen to me reports. nineteen year old crystal medina prefers the weather back home but says she's thankful to be here despite the cold attending new york university going to school in puerto rico has been difficult since hurricane maria a lot of the buildings were being really badly damaged we had in our cl

and that tomorrow, robert kaplan.ing corrections are healthy and the u.s. and global markets have gone for an extended run without a correction. ask him to elaborate on that. this is bloomberg. ♪ ♪ taylor: this is "bloomberg surveillance," i'm taylor riggs. let's get your bloomberg business flash. the parent of snapchat delivered its first upbeat quarterly reports and going public last year. orrth quarter sales better-than-expected, 72% and the number of active daily users broke 18%. that has snap shares soaring in premarket trading. dissing is trying to stem the tide of people dumping his espn cable channel. the company is revealing more information about the espn streaming service that will be introduced in the next few months that will cost for 99 a month -- $4.99 a month which will give subscribers access to thousands of live sports events a year. they are close to five and million dollar deal for the los angeles times. he is one of the major shareholders. journalists at the l.a. times have been at odds with the t

the house, an update from our capitol hill producer, craig kaplan, reports the house has been in recess subject to the call of the chair since 12:53 p.m. but is coming back at 4:15 p.m. for two more votes on small banks and rural telephone quality bills before recessing again. still waiting senate action on government funding and the budget deal bill. of course we'll have live coverage of the house here on c-span, live coverage of the senate is going on now other on c-span2. any updates to, any briefings, we'll try to get those on as well. speaking of which, we'll take you live to the white house, expecting to hear from the deputy press secretary shortly. host: again, live inside the white house briefing room for the daily briefing. it was scheduled to start at 2:30. it was then pushed to 3:15. it's still delayed. we're not sure exactly why. when it does get under way we'll hear from deputy press secretary raj shah. press secretary sarah sanders is handling other business. while we wait, the clock is continuing to tick on temporary government funding that runs out at midnight. remarks f

and gabe kaplan the new phillies manager wants the phillies to be bold and he has a bold message for them bright and early tomorrow morning. we'll talk about that come upg in sports. >>> it has been one year since two northern indiana girls, since they vanished during a hiking trip and were later found dead. two grainy photos of the suspect and an audio o down the hill was found on a victim's home. they hope the anniversary will help lead them to an arrest finally. >>> police say there is sufficient evidence to diet prime minister benjamin netanyahu on two corruption cases. authorities found evidence of accepting bribe and fraud and a breach of trust. and he denied the allegations including accepting $300,000 worth of gifts and vowed to remain in office and even seek re-election. >>> human error is to blame for the airplane crash in russia. evidence shows the pilot had conflicting data on the two air speed indicators much the flawed readings came because they did not turn on the heating unit for the measurement equipment before they took off. 71 people were on board when the plane cr

frank kaplan argues against college for everyone.and ira shapiro will share his thoughts on partisanship in the senate. >> you can differ with people maybe were moving left, but politics was supposed to be about finding a way to overcome some of the differences through extended discussion and a real legislative process, principal compromise. it was not supposed to be about one party winning on their own. the times in history when one party has been able to do this on your are very few. ab 1933 and 34. fdr dealing with the depression, lbj and 64 and 65, even lbj reached out to republicans and fdr had republican support the first two years. when senator mcconnell started doing healthcare and trying to get 50 of his 52 votes from his caucus my reaction was, that shouldn't work and couldn't work and it's not supposed work that way. you're supposed to be looking for people on the other side to get 60 or 70 votes. corsi would say that would be impossible but, this notion that one party has to rule by themselves brings us to some bad places

ramy: coming up, more conversations with robert kaplan and neel kashkari.ared their economic outlook. plus, more exclusive insight from the biggest players in global finance putting volatilities come back into context. >> i think the markets are still vulnerable to a slowdown in growth momentum. ramy: this is bloomberg. ♪ willam confident that we achieve our objective to ensure price stability. all of the ingredients and requirements are on the table. we have a robust growth. broad-based growth in the euro area. we have a rising investment activity. we have an increase in unemployment. we have very generous financing. inflation will come in the medium-term and that is our goal. and that is why i think that, in this year, we can accept the programpurchase of our balance and start coming back to a more normal monetary policy. ramy: that was ecb executive board member speaking exclusively with matt miller about the progress of the bank towards inflation targets and its timeline for concluding qe. let us get back to the u.s. and fed policy. neelnday, we sat dow

kaplan. 30 years later and a great american success story, sold the business to the washington post but i went and worked there at nights, weekends, holidays i'd work the machine. the business took off so we got an electric machine and as the machine went around and around , i read the preparatory materials over and over and i took five apps and i got for 800s. so the guidance counselor said you should apply to harvard, you're an athlete with 800. i was scared because no one like me went to harvard in those days. it was 80% private school so i went to the one guy from my high school who'd been to harvard and he was a basketball player and i said how am i going to make it at this place? he said try out for the freshman basketball team. they are terrible and you'll make it. he said, those will be your friends that you will hang out with. so it's the fourth day of tryouts and we're wearing these little numbers. coach calls me up, number 27, you are schumer. you went to madison, house coach so-and-so? and he looks at me and said you played forward? how tall are you? i said i'm 6" 6', sir. h

eastern rob kaplan is speaking in germany, and we'll hill from bill dudley, charles evans, and john williams today. >>> hasbro and michael kors before the open, and after, 21st century fox and tesla. the disney ceo saying wasn't aware of any other potential offers for the fox deal that he's agreed to >>> still ahead on "worldwide exchange," a big day at the house of mouse after disney's earnings beat the street they reported yesterday. a rundown of those results and comments from the ceo, bob iger. let's check in on furetus, down 270. >>> welcome back to "worldwide exchange." let's check back in on futures down close to 300 points, improving to 272 s&p down 22. the nasdaq down 9. the levels were at a relatively steady amount, so not like volatility we saw yesterday, and throughout the trading day itself, which were wild swings, closing up 560 points. >>> disney topping wall street's earnings expectations thanks to the success of its new avatar land bob iger spoke about the theme park performance last night on "closing bell. >> starts with success across the globe. particularly in some of our

we heard from robert kaplan this morning speaking in frankfurt he said the central bank should continueemoving accommodation by added the fed should be highly vigilant about market volatility and whether it has effect on the real economy cvs health, t mobile, kellogg, twitter, viacom and yum brands reporting before the open bell aig, expedia, news corp. are out after the close. >>> double dose of deal news fox talking disney and sky in its latest earnings report details coming up. >>> and another check on futures. the dow is lower by 126 points in the premarket "worldwide exchange" will be right back what's critical thinking like? a basketball costs $14. what's team spirit worth? (cheers) what's it worth to talk to your mom? what's the value of a walk in the woods? the value of capital is to create, not just wealth, but things that matter. morgan stanley >>> welcome back to "worldwide exchange." let's get you up to speed on the market action. here's the premarket set such. the dow is lower by 130 points s&p 500 down by 13 nasdaq lower by 21 this comes after yesterday we did see a big in

. >> kaplan views spring training differently than most.s using his own phone to document pitches. >> these guys are ready to go. they are in incredible shape. a lot of smiles out there today. philly's players notice capler's presence in the weight room. he's not only watching, he's lifting with them too. >> we'll be talking in the weight room and he puts four plates on. >> can he out lift you? >> yeah. four plates is pretty beast. >> capler may be the only manager in baseball in better shape than his players. >> still ahead, villanova cats >> college basketball, villanova is beginning to show cracks in the armor. cats lost at st. johns. tonight, cats fall 76-71, lost two of the last three games. newkirk dropped in three of 19 points. hawbs win 71-55. that's sports. >> thanks, ducis. dwuit was a swinging concert in center city tonight. >> the venue was transformed into a big band era will you be for special performance of the summer club. there was a 17 piece orchestra playing big band favorites. "jimmy kimmel live" next followed by "nightl

john williams and rob kaplan are speaking today as for earnings, chevron, exxon, merck, clorox, esteeauder and sprint report before the bell. >>> let's talk more about big energy names reporting today jackie deangelis joins us on set. royal dutch shell were able to triple their profit because of the rise in oil prices is that something we should expect from some of those u.s. names today? >> it's one of the issues. three things you need to watch for that the street will be looking for from exxon and chevron today. they'll look to see if there's a benefit from higher oil prices if they were higher for a quarter, that helps. but it's not a long-term boost for these companies. the second thing they're looking for is guidance or commentary on how tax reform will impact these companies as they go forward conoco phillips yesterday had a deferred cash profit and said they would take about a 900 billion deferred revenue charge because of the deferred tax plan there. the thirdthing is regulation president trump is saying he's going to make it easier for companies to explore and do production,

rebecca kaplan says that properties that stay empty for a long time encourage blight. money raised by the tax could fund new housing or homeless services. the proposal will be heard at a council meeting next month. >>> canada's prime minister kicked off his two-day trip to california today by conducting meetings with tech executives from salesforce, amazon and ebay. justin trudeau is not hiding the fact that he is here to pitch canada as a place where american tech firms can do business. abc 7 news reporter lyanne melendez has the story. >> the prime minister laid his cards out on the table. he was honest about his intentions. he wants tech companies here to look to the great white north. he said it was cheaper to live there. people in canada are highly educated. and canada relies on immigrants to prosper economically. >> reporter: dozens of people in downtown san francisco stopped to get a glimpse of prime minister justin trudeau. he had just met with salesforce ceo marc benioff who highlighted things that make the city strong. >> we're in the city of the summer of lo

. >>> krishan kaplan -- krishan captain bringing us more on his comments. >>> birth the second president making headlines talk about immigration, he was threatening to place agents from california upset over sanctuary city policies. on twitter he said, ms-13 gang members being removed by our great ice and border patrol agents by the thousands but the killers come back in from el salvador in mexico like water, el salvador takes her money in mexico must help more with the problem. we need the wall, speaking at sea pack the conservative political action in maryland the president blessed -- blasted sanctuary cities. >>> we are cracking down and sanctuary cities, where they protect. that's another one. we want our cities to be sanctuaries for law abiding americans not criminals. >>> ice hasn't commented that the proposal to pull ice agents out of california seems unlikely. the state has seen an increase in immigration sweeps and employment audits. san francisco's interim mayor released a statement reacting to the reading, if president trump believes threatening sanctuary cities with action wi

robert kaplan speaking in frankfurt, germany we're bringing all of these comments kaplan saying marketsealthy. market valuations are high relative to history that's been said by several officials now. one concern with recent tax legislation, it will lead to higher debt to gdp talk about that more in a second along with this idea which he said the neutral interest rate is likely to be lower than historic levels. finally he said higher wages may not push up. he said earlier that we're convinced on the march hike, that's one again, remember yesterday we were here, it was priced in for august that's moved earlier now back to june it's been very volatile this week this is usually a fairly steady metric december, 47.5 so pricing in 2 1/2. i want to take a look at some of the factors influencing the outlook for rates. we haven't talked much about the supply factor here the fed balance sheet reduction will ramp up this year it is going, folks, to a $600 billion annual rate. it's not there yet it's going to ramp up slowly finally, government borrowing is back on the rise it should be back up to

kaplan. thirty years later in the great american success story sold the business to "the washington post" for tens of millions of dollars. i went and worked there and nights, weekends, holidays i would the machine in the second year the business took off and we got an electric machine and machine went around and around and i read the preparatory work materials over and over and i took five tests and got 48 hundreds. so, the guidance counselor said you should apply to harvard. i did and i got in that i was scared because no one likes me went to harvard in those days. it was 80% private and i went to the one guy from high school who had gone to harvard for me and i said he was the best ballplayer and i said i will i make it at this place. he said try out freshman basketball team. they are terrible so you will make it. and he said in those who fear friends who you hang out with. those who were wearing these little numbers and tryouts and the coach calls me out and says number 27 and you went to

ramy: coming up, more conversations with fed presidents robert kaplan and neel kashkari. their economic outlook in bloomberg exclusives. plus, more exclusive insight from the biggest players in global finance putting volatilities comeback into context. >> i think the markets are still a little bit vulnerable to a slowdown in growth momentum. ramy: this is bloomberg. ♪ retail. under pressure like never before. and its connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. ♪ >> i am confident that we will achieve our objective to ensure price stability. all of the ingredients and requirements are on the table. we have a robust growth. broad-based growth in the euro area. we have a rising investment activity. we have a decrease in unemployment. we have v

rebecca kaplan says that properties that stay empty for a long time encourage blight. money raised by the tax could fund new housing or homeless services. the proposal will be heard at a council meeting next month. >>> canada's prime minister kicked off his two-day trip to california today by conducting meetings with tech executives from salesforce, amazon and ebay. justin trudeau is not hiding the fact that he is here to pitch canada as a place where american tech firms can do business. abc 7 news reporter lyanne melendez has the story. >> the prime minister laid his cards out on the table. he was honest about his intentions. he wants tech companies here to look to the great white north. he said it was cheaper to live there. people in canada are highly educated. and canada relies on immigrants to prosper economically. >> reporter: dozens of people in downtown san francisco stopped to get a glimpse of prime minister justin trudeau. he had just met with salesforce ceo marc benioff who highlighted things that make the city strong. >> we're in the city of the summer of lo

randy quarles and fed president bill dudley, raph bostic and rob kaplan all have scheduled events todayjames bullard will be guest hosting on "squawk box" starting at 6:00 a.m. eastern time. that's one not to miss >>> hormel foods and blooming brands will post results before the bell hewlett-packard enterprise and hp will report after the close this afternoon >>> still to come, we're breaking out your rising rates playbook, what you should be doing with your money as the fed signals more rate rises to come. >>> and we'll discuss amazon with an analyst when we return experand the nx hybrid... nx, with a class leading 31 mpg combined estimate. take advantage of special president's day offers now through the 28th, on the 2018 nx 300. experience amazing at your lexus dealer. swho live within five miles of custyour business?-54, like these two... and that guy. or maybe you want to reach women, ages 18 to 34, who are interested in fitness... namaste. whichever audience you're looking for, we'll find them we're the finders. we work here at comcast spotlight, and we have the best tools for gett

all in favor of the budget as -- all in favor of the fiscal year budget presented by dan kaplan. motion to approve? >> motion. >> second? >> second. >> all in favor, aye. any opposed? none. motion carries. thank you to the staff for providing very, very good, useful information, and bringing clarity to a process that is frequently opaque. okay. back to the rest of the agenda. item a, review and approval of the medicare improvements for patients and providers act, contract mi-171806, associated budget and subsequent amendments. welcome back, michael. >> hello, again, commissioners. the item before you today, the department of aging announced they made funding available for area agencies for the mippa program. we have to enter into a contract with california department of aging to access the fund. that contact has been added to your packets. part of the execution of that contract requires it coming before the commission for e approval. again, mippa sounds for medicare improvements for patients and providers act. there are two main things, increase low-income subsidy, and that's sub

for the record, for the record, i'm dan kaplan.

for the record, for the record, i'm dan kaplan. i am the deputy director of the human services agency for administration. and i guess i'd like to start off by talking about our process and where we are in the process and then we will go into the substance of this presentation. so, the department of aging and adult services is of course part of the human services agency. and the human services agency has within it a sort of a large support staff area. it does a number of things, but one of the things we do is we develop the budget for the agency, of course, we do that in cooperation with shireen mcspadden and deputy directors like cindy and joe, and program directors throughout the agency. and we do it with a budget staff and emily gibb and tiffany wong are two of the members who have worked on the daa is budget this year. we reach out to the program offices throughout the agency to ask them to identify areas of new need, changing regulation, changing law. changes in the patterns of consumption of services. and then potentially inno