with isjonathan charles, managing director of communications at the european bank for reconstruction and developmentte. you go back to what they were saying at the beginning of all of this, long time ago, they had this in ambition to be a real investment bank. they wanted to take on goldman sacks. clearly that doesn't work. this is devastating news. you're talking about the workforce living over the next few yea rs. workforce living over the next few years. you have 8000 people primarily here in london and birmingham as well. they will

with isjonathan charles, managing director of communications at the european bank for reconstruction and development. i'm away. it just i'm away. itjust realise it needs to concentrate. you go back to what they were saying at the beginning of all of this, long time ago, they had this in ambition to be a real investment bank. they wanted to take on goldman sacks. clearly that doesn't work. this is devastating news. you're talking about the workforce living over the next few yea rs. workforce living over the next few years. you have 8000 people primarily here in london and birmingham as well. they will be very badly hit because deutsche bank are making it clear that one of the big areas of their radical overhaul will be in the trading unit, investment banking, exactly the sort of things that are done here in london and new york as well so a lot of the hit is going to be outside germany but even within germany, radical restructuring. it is going back to the sort of bank it was when i first moved to think that in the mid— 90s, slightly sleepy, a bank which focuses on retail and on bankrolling european c

and is the u.s. executive director for the european bank of reconstruction and development. r more on what this means for policy and the markets, cornerstone macro founding partner roberto perli. great to have you with us. of course, a lot depends on whether or not these candidates finally pass senate confirmation. that hasn't been easy. but what does this tell us about how president trump wants to influence the fed and monetary policy? roberto: well, let's distinguish a little between the two nominees. waller should be relatively uncontroversial, having been director of research for the st. louis fed. he's clearly qualified, hard to argue he is not. he has expressed in the past and written papers and other forums, pretty standard views, so i don't think it should be controversial. on the other hand, remember that being qualified is not a guarantee for congress confirmation. remember, the nobel prize winner who was deemed not qualified by some senators, and more re cently. so we will see how it goes. shelton is a little different, she has expressed some views that are a littl

european union and international monetary fund to do say. it was a precondition for a total of $360 billion worth of bailouts. with me now isjonathan charles, director of communications for the european bank for reconstruction and developmentr, won't we? there may be a change of government for greece, but the economic problems still remain. very good to see you, there is no doubt that this new government will have a tough time ahead. it wants to make changes to the economy, it is talking about cutting taxes. you got to remember that greece is coming out of this crisis with 183% accumulated debt, so it really has very little room to manoeuvre. it is still subject to oversight from the european union, and that's going to make it very hard. yes, they may be able to do some things around the fringes, but they are going to have to first of all probably prior privatise some assets of the state to raise money. that will not be popular in greece, it has never been popular, privatisation, with ordinary people. and secondly, there is still need to get on with reform. there is a massive need in the economy for economic reform. how much appetite is there amongst greek people for reform, especially after the last ten years? greece has

she is currently a director at the european bank for reconstruction and development. a position that was appointed by the president. she could be seen as one of two things. despite her past hard money views, she has said that she would want to lower interest rates as quickly as possible if she became a fed governor. that does not really fit with background, thinking and writing about monetary policy and economics. fan of hardhe is a money, that is associated with very low inflation. philosophically, she does not believe that there should be a central bank setting a benchmark interest rate for the financial markets. joe: i want to stop you there. that alone is a very provocative stance to say the least. the idea that you have someone coming in to the fed that would if not his very existence but all the key roles that we have traditionally seen it play. how would that affect the day-to-day operations and the deliberative process of the fed? chris: sometimes an orthodox person-- unorthodox comes into the fed with different views. that is not judy shelton. she has no play

the u.s.picking directed of executor of european bank for reconstruction and development. imf boss christine lagarde is set to become the first woman to leave -- lead the european central bank after seceding mario draghi. eu leaders have also nominated the german defense minister to become the european commission's next measure that -- that president. she will be the first woman to hold the post in more than 50 years. the subsidy dispute before airbus and boeing has poured the u.s. to add more products to tear of targets. washington has identified $4 billion of eu goods, ranging from fruit, cheese and pipes. that adds to $21 billion of products that the u.s. published in april. the eu has a similar case pending against boeing. oil had its worst reaction to an opec meeting in four years, with prices tumbling after they agreed to extend production curbs and 22020. russia and other independent nation's backs out of iranians plans, although divisions remain over deeper curbs. the decision came with shale curving at the u.s. being close to being an exporter. opec has the lowest

she is currently a director at the european bank for reconstruction and development, a position thatas foisted by the president, and she could be seen as one of two things. either a political partisan, because despite her past hard money views, she has said recently that she would want to lower interest rates as quickly as possible if she became a fed governor. now, that doesn't really fit with her deeper background in thinking and writing about monetary policy and economics. when i said she is a fan of hard money, that is generally associated with aiming for very low -- inflation. even zero inflation. philosophically, she does not believe there ought to be a central bank setting a benchmark interest rate for the financial markets. jason: i want to stop you there, because that alone is a very provocative stance to say the least and the idea you would have someone coming into the fed that would on a regular basis essentially be questioning, if not its very existence, certainly all the key roles that traditionally we have seen it play. how would that affect even the day-to-day operatio

executive director at the european bank for reconstruction and development. she supported returning the united states to the gold standard shelton has not been a fan of the fed. in a recent interview she said the central bank should lower rates. >>> let's get another check of futures. the s&p implied open up 10 dow jones up 77. nasdaq futures up 40 points. downing me is matt mele from miller taybach great to see you we have seen a lot of movement in the markets this week in the semiconductor off news that restrictions would ease somewha. we saw a big rush, and then a pulling back tell me what's happening in the sector >> it's one thing we have to worry about now with this big move in the stock market of course the semiconductors have been a good leadership group. they warned us about the fourth quarter deep correction when they rolled over early they led the market higher in the first half of the year with huawei we were already seeing weakening in the sector in terms of orders, sales before the restrictions on huawei came about. and before we had the trade t

louis fral reserve and judy shelton the director at the european bank for reconstruction and development to discuss, stephen moore heritage foundation and former fed board nominee and joining us on the phone sarah bloom raskin. federal reserve governor very good afternoon to both of you. steve, if i start with you, you disappointed you're no longer in the running or are you pleased with these picks >> i sure am i happy that judy shelton is going to take my place on the federal reserve i have known judy for 25 years and an outstanding economist probably more, you know, has a better background and knowledge of these things than i do and i know a lot about it. i want to shatter this narrative that i've heard on cnbc and other, you know, business reporters saying that somehow judy is a dove, she is not a dove, she is an inflation hawk i think judy and i share this belief, the fed has been way too tight for way too long one reason the economy is faltering a little bit when you have a 2% ten-year treasury bill, that's a sign that you don't have any inflation in the economy why else would peopl

and serves as u.s. executive director for the european bank of reconstructed shun and development she said if appointed she would lower interest rates to zero percent in one or two years, echoing calls from president trump to lower rates make sure to tune in friday, 11:40 a.m., dr. judy shelton will be on what do >> what does it take >> zero is unnecessary at this point. pegging to gold, that's so old school >> she has said she is elevated to the fed board, she would not advocate pegging the dollar to gold >> how does it color everything else you think about the world >> you're pivoting on policy just to assume the position? >> why would you do that >> i agree >> she's putting herself in a bad set wayituation people say i don't want anything to do with the dollar pegging gold zero interest rates scare the heck out of me >> neither of those extremes are expected what this means short-term for the markets is not much more >> i don't think she makes it. >> you don't think she makes it? >> no. >> she has already been confirmed by the senate. >> watch >> there was a view that somehow the fed would become ov