mr. powell and mr. fraser to make full restitution for funds they unlawfully profited in salaries they earn both employees and paid penalties. to remove mr. lapierre and mr. frazier from the nra's leadership and to ensure none of the four individual defendants can ever again serve on the board of a charity in new york state. it is important to note that mr. phillips and mr. powell have left the nra. it is clear that the nra has been failing to carry out its stated mission for many, many years and instead has operated as a breeding ground for greed, abuse, and brazen illegality. in this state we have a set of laws that every individual and entity must be held accountable to, regardless of who you are, regardless of your power, size, influence, wealth, station in life. one set of laws. and today, we sent a strong and loud message that no one is above the law. not even the nra. one in the most powerful organizations in this country. again, i would like to thank the chief of the charities bureau, and the co

mr. powell, joining us tonight from beieirut. we appreciate your time and your insighghts tonight. ststay safe. >> thank you very much. brent: with me here in the studio is my colleague, with dw arabic. she is from lebanon. i want to pick up on what we heard, talking about the mood in the country right now, the people have been disgusted with the government may been protesting. now there is a tragedy of epic proportions for the country. can the people expect the government to do what a government is supposed to do now? >> that is the urgent question at the moment. what will the government do in regards to this disaster? my feeling is that the people are fed up with the government. with the system itself. with the ruling elite, the warlords who have been ruling lebanon since the assumed and of the civil war. they have done nothing to lift up the country economically, even political to establish democracy or have the country on a strong basis, economically speaking. the people do not trust the government. see on the streets of beirut -- we see on the streets of beirut a massive solid

mr. powell yesterday -- of business leaders to something like what we heard from mr. powell yesterday.ince we are talking about texas, tom, it happened with you getting kicked out of a saloon? tom: i was north of kerrville. it was a saloon. they looked at me and said, catch him. they caught my ear and bounced me right out the door. had a little bit to do with my father. i was in austin, the land of the longhorns. they said, your father was an aggie? see you. that's all there is to it. lisa: i want pictures. tom: there were a few. futures up 11, dow futures up 133. for all of you in college station, texas, we say good morning. yields higher. the 30 year bond, a stunning 12 basis point move, 1.52%. coming up, michael mckee with robert kaplan of the dallas fed. this is bloomberg. good morning. a simulcast. ♪ hike! coming to the green flag, racing at daytona. they're off... in the kentucky derby. rory mcllroy is a two time champion at east lake. he scores! stanley cup champions. touchdown! only mahomes. expect anything different? the big events are back and xfinity is your home for the ret

mr. powell and mr.and board members at the nra abused their power and illegally diverted or facilitated the diversion of tens of millions of dollars from the nra. these funds were in addition to millions of dollars the four individual defendants were receiving in grossly excessive salaries and bonuses that were baseless and did not adhere to prudent standards for evaluating and determining compensation as is required by law. altogeth all together there are 18 violations, and that includes laws governing the nra's charitable status, false filings with my office and the irs, improper expense documentation, improper wage reporting, improper income tax withholding, failure to make required excise tax reporting and payments, payments in excess of reasonable compensation to disqualified persons and waste of nra assets amongst other offenses. for these years of fraud and misconduct, we are seeking an order to dissolve the nra in ins entirety, to require mr. la pierre, mr. phillips, mr. pow l powell, and mr. fr

mr. powell, do you believe republicans or more moderate voices who are maybe not full-fledged republicansnymore, are they getting too much time? what message does that send the democrats nationwide? >> we have an extensive progressive movement. i lost the democratic primary, but even in states where we lost, we won a good majority of younger people. 40, 50 years of age and younger. i think the future of our country is what the progressive movement is. i would like to see more progressives to have the chance and get out there and talk about their vision for the future of america. what i wouldhand, see is that if i mentioned earlier, what we are looking at now in this unprecedented political moment in american history is a very broad united front. disagree onand i essentially everything. i like john. but we disagree politically virtually everything. except for one thing. trump is atands that danger to american democracy. and he is a pathological liar. so john and i and millions of other people with very different political perspectives come together to say, look, we have to defeat trump. an

ability to do that here is limited once we're clear about what actually happened like in the case of mr powell we will strive for a coordinated european response not just responses by individual states this is not just a german problem even though germany has taken in mr. a much more cautious no there why isn't she taking a tougher stance on than of all the case. i think she has been pretty clear on the novelli case and on russia's role there as well brian when when mr novelli fell ill a few days ago she gave a joint statement with the german foreign minister and this in itself is already on usual america and the foreign minister they are pressing russia to investigate the case and full transparency and i know america said she sees an obligation to clear up the case and right after the press conference germany's foreign minister said that there will be diplomatic consequences if it proves that it is indeed as they used to initiate it might attempt ok that investigation into whether this was a poisoning what happened exactly still on going on here thanks so much for that well european union has

ability to do that here is limited once we're clear about what actually happened like in the case of mr powell we will strive for a coordinated european response not just responses by individual states this is not just a german problem even though germany has taken in mr wagner. and you could be your chance on sunday rather cautious their wife isn't she taking a tougher line. being clear on that matter as well phil only a few days ago when they were the 1st news off the berlin hospital where mr nardelli is currently treated that the doctors indeed believe in a poisoning oftenest and a volley chancellor merkel and her foreign minister. choose. a rather rare way to express their concern are in a. joint statement and this in itself shows how and usual this is germany pushes for russia to make a full and transparent investigation off the case but macular also said that it isn't a german russian bilateral issue and she strives for a joint european response after her press conference the foreign minister said that russia has has to count on diplomatic consequences if it proves that it is a state ind

ability to do that here it's limited once we're clear about what actually happened like in the case of mr powell we will strive for a coordinated european response not just responses by individual states this is not just a german problem even though germany has taken in mr wagner. but also a much more cautious note there why isn't she taking a tougher stance on that of all the case. i think she has been pretty clear on the novel in the case and on russia's role there as well brian when when mr novelli fell ill a few days ago she gave a joint statement with the german foreign minister and this in itself is already on usual america and the foreign minister they are pressing russia to investigate the case and full transparency and i'm accurate said she sees an obligation to clear up the case and right after the press conference germany's foreign minister said that there will be diplomatic consequences if it proves that it is indeed a state initiated murder attempt ok that investigation into whether this was a poisoning what happened exactly still on going on here thanks so much for that well in the

powell. we will look to mr.ert for careful analysis of our labor economy as we move to that late unemployment report scheduled late the first week of september as well. nine, up, with futures up i want to look at the data. dow futures up 133. in the dollar space, a weaker ¥105.44. euro-yen 12542, showing fractionally strong yen against euro. in the fixed income space, all of the fixed income we are talking about, let's get some clarity. will join us from pimco. stay with us. this is bloomberg. with the first word news, i am ritika gupta. prime minister shinzo abe is calling it quits. the longest-serving prime minister in japanese history is resigning to undergo treatment for a chronic illness. he has been in office since 2012. his ruling liberal democratic party will predict the next prime minister. shinzo abe is best known for a program aimed at reviving japan's economy through unprecedented monetary easing and regulatory reform. president trump wrapped up the republican national convention i arguing for a seco

through our own abilities which are in fact limited when we have more clarity like in the case of mr powell who will try to forge a reaction on the european level that i think that we should be a couple of these issues and in our opinion or trying to should be completed. the valleys being treated in a pearling clinic at the moment stop to say his condition is stable and then in joost coma hospital hours novelli was poisoned in russia prompting calls them for germany to ditch the old stream too but as we've heard merkel says the economy is separate from that of ali case and austria is former foreign minister agrees. nobody built pipeline just to n.r. somebody a pipeline is built because it is the man it's the 2nd part of the pipeline and that was initiated in 2000 try we saw that same argue man in those years apart 100 fact at alland from north america it was not yet commercial. we see a kind of replay of the arguments of 2005 nevertheless it was built and now there's a move towards and force during this situation i would say is the bit more different from it was 2 years ago and i don't see

power with the heinrich boom foundation joining us tonight from the foundations office in beirut mr powell we appreciate your time and your insights tonight and stay safe thank you very much. and with me here in the studio was my colleague amal diem she is with arabic she is from lebanon what i want to pick up on what we just heard there from your office talking about the the i guess the mood in the country right now that people have been discussed with the government they've been protesting and now there's a tragedy you know epic proportions for the country can the people expect the government to do what a government is supposed to do now. i think that's the urgent question at the moment what will the government to regards to this disaster that just adds up to 11 on has been going through i feel my feeling is that the people are fed up with the government any government with the system itself with the ruling elites with the warlords who have been ruling levon dahlan since the end or assumed end of the civil war they have done nothing to lift up the country economically even politically to

ability to do that here is limited once we're clear about what actually happened like in the case of mr powell we will strive for a coordinated european response not just responses by individual states this is not just a german problem even though germany has taken in mr. merkel sounding a much more cautious note there why isn't she taking a tougher stance on than of all the case. i think she has been pretty clear on the novelli case and on russia's role there as well brian when when mr novelli fell ill a few days ago she gave a joint statement with the german foreign minister and this in itself is already rather unusual. and the foreign minister they are pressing russia to investigate the case and full transparency and i'm going back and said she sees an obligation to clear up the case and right after the press conference germany's foreign minister said that there will be diplomatic consequences if it proves that it is indeed a state initiated murder attempt ok the investigation into whether this was a poisoning what happened exactly still on going on here thanks so much for that but just a f

mr. powell? michael: i think we will probably hear more about the outcome of the framework for a deal which we think will be a shift toward inflation targeting which mike mckee suggested. if someone like esther george is pushing back on the inflation targeting, i think the rest of the committee is on board as well. that is the most significant thing we will hear. also consistent with esther george's comments, we probably won't hear much about an imminent shift toward forward guidance which we and many others expected at the september meeting, but there has been pushback from regional bank residents, -- presidents, as well as what we heard last week. there is an update of this framework review and a preview of the conclusions. the formal conclusions i don't expect until september. they will essentially give us those conclusions. kailey: i want to pick up on your first point, inflation targeting, and ask about the communication. 2%, very average to understand. average inflation may be less so. how

mr. powell. he has done a lot of communication and guidance. expectationy, the is not reason to the 2%. , we arefessor ito starting to see potentially the fed go down the same road as the boj did. sheet relative to gdp significantly bigger than that in the united states with the fed. what did you make of what jerome powell said yesterday? do you think ultimately we are going to see the japan ificationus -- japan- of bond markets? >> certainly there is risk all over the world. deeper inrope is negative territory. the u.s., the real economy growth is strong. when powell said he would continue to have the policy even after -- is achieved, the bond rate went up, right? that is the big difference in japan and u.s.. kailey: i want to shift towards fiscal. japan is in a record contraction, it was last quarter. ravings --val approval ratings have been sliding what can his successor do to help japan? shouldink his successor focus on how to balance between the prevention of the infection spreading and opening the economy. i think we now have a good under

mr. powell's comments from jackson hole. guy: sticking with the targets and positioning, we will get to jackson hole in a minute. short bets on the s npr at a 10 plus year low. what do you make of positioning? >> we track something in our model which captures interest. premiums are on the run. .il prices, money market funds we are at levels we have not seen since 2001-2002. pullback inity of a the market in the next 12 months. the only time it did not work was in 1999 when the market kept coming -- kept going up in a bubble phenomena. bubble, stocksa trading at ludicrous valuations. more you have much impressive companies in dominant market positions. it is not the same, but there is the sense that the fed has got my back, don't worry, we can take risk. >> clearly, this market is betting the fed is going to keep on keeping on. what does it need to hear from jackson hole? >> there is a lot of discussion about what they might here. there have been articles talking about the fed moving from a 2% target to a 2% on average throug

mr. powell needs to do. this is always an important speech.is widely understood inflation will be the topic. how is a central-bank manufacturer inflation? know they need to continue to supply stimulus to the economy and they have been moving towards this framework review, which is likely to signal a tolerance for overshooting inflation, meaning somewhere north of 2% inflation would not trigger immediate interest rate responses from the fed. sometimes several years in the future. that is what we expect from them today. cautional, short-term is about the lack of a stimulus bill, persistent high unemployment, risks of inflation staying lower for longer, and i think the fed is focused on all of these risks and i think some people in financial markets are not. we will see as we go through what is said to be a pretty turbulent autumn weather market and economic data could trigger more than just talk from the fed. more action. i give amends credit to blanchard for jumpstarting this conversation. the magnitude is different. aivier blanche arden create

mr. powell's comments.ell will have framework of monetary policy. >> the new monetary policy framework. >> there is no rush for forward guidance.

behavior the complaint lays out numerous other instances in which mr la pierre phillips mr phillips mr powellnd mr frazier and other executives and board members at the n.r.a. abused their power and illegally diverted or facilitated the diversion of tens of millions of dollars from the n.r.a. these funds were in addition to millions of dollars the 4 individual defendants were already receiving in grossly excessive salaries and bonuses that were baseless and did not hear to prudent standards for evaluating and determining compensation as required by law all together there are 18 causes of action and knees actions violated multiple laws including the laws governing the n.r.a. charitable status false reporting on annual filings with my office and the i.r.s. improper expense documentation improper wage reporting. improper income tax withholding failure to make required excise tax reporting payments payments in excess of reasonable compensation to disqualified. and waste. of enery assets amongst other offenses you've been listening there to new york attorney general of the titian james describing

mr. powell is going to lay out the case why real yields can move significantly more negative if needed. tom: i didn't mention in the 1.03%.eck, up when i walked in the door, it 0.99%.ative for it to break down even further would be a huge steel this morning. we can get off the bloomberg easy. the running pe on apple's 38 times earnings. lisa: it is not cheap i any means. it is those negative real yields pushing people into as a value-, as someplace perhaps if you didn't want the triple leverage cash fund that tom keene has. how much is buying apple shares a bet on real yields going even further into negative territory? patrick: it is a bet. we've got a big i.s. towards all of the end growth in our long positions, and our short positions are cyclical with a lot of debt. we are in an economy that is suffering a massive output cap. incrementally, things are getting better every month, but they are a long way from getting good. the central bank and the government are going to be big drivers of trying to reduce that output cap over the coming quarters. it is a function that you are going to

mr. powell. he is speaking to an with double-digit unemployment.el: that does put more weight on his appearance today. the question is does he see this as the venue to make any kind of announcements, and what kind of announcements can he makethe qus as the since the fed is already at zero and has done so much? there is probably not a lot that would move the markets in the sense they did in march when they were moving monetary policy around. the real focus is does he talk about what the fed policy framework is going to be going forward? that is the announced topic of his speech. is it just a review or does he have something to tell us about how the fed will do monetary policy? lisa: the backdrop is not the grand teton's, not moose and bears hunting down tom keene, it is a dismal jobs market. a confusing report showing increasing dispersion among the haves and the have-nots in terms of income and location. what have we learned if we dig under the hood of the latest jobs report showing yet another more than one million jobless claims in the past week.

mr. powell steve? >> when fed chair j. powell came to the job in february 2018, he expressed respect for economists in economics but skepticism. his biggest beef, how key economic theories didn't work so well in practice, ideas like the neutral interest rate or ourstar kept changing. unlike is unlike celestial stars, he said, these stars move unpredictably and cannot be observed targeting announced yesterday by the fed came after 15 fed listening events and it reflects 17 members of the federal market committee. but it's also the result of the evolution of powell. the fed implemented inflation targeting in 2012 under then chairman ben bernanke, leading policy expert. but powell began to see an inherent flaw. the fed will always see inflation and never hit the target the fed was always chasing its tail powell and the fed are hoping to try to convince the public that inflation can rise to the target and above it in order to average 2% over time the other big change announced yesterday also reflects powell's observation of ho

to do the ass here is limited once we're clear about what actually happened like in the case of mr powell we will strive for a coordinated european response not just responses by individual states this is not just a german problem even though germany has taken in mr. merkel sounding much more cautious no there why isn't she taking a tougher stance on the nibali case. i think she has been pretty clear on the novelli case and on russia's role there as well brian when when mr novelli fell ill a few days ago she gave a joint statement with the german foreign minister and this in itself is already rather unusual. and the foreign minister they are pressing russia to investigate the case in full transparency and i'm accurate said she sees an obligation to clear up the case and right after the press conference germany's foreign minister said that there will be diplomatic consequences if it proves that it is indeed as they used initiated murder attempts ok that investigation into whether this was a poisoning what happened exactly still ongoing on your thanks so much for that well earlier today the

mr. powell's a friend of yours, and i have have the greatest respect for both of you, but it is an odd fedright now. sort of this rediscovering economic reality. let's turn to, if we may, the virus and the administration's response to it. out comes the cdc saying that 6 % of the deaths that have been reported amongst specifically 161,000, only 6 of them were solely attributable to covid-19. i mean,s what is going on with our public health agencies? this is becoming alarming, the degree to which we're getting new information and different takes on what has actually been going on here now for six months. >> well, lou, as you said, that's a very important statistic that they just put out. and as we have been saying all along, for most people this is not a life-threatening situation, it's really just a life-threatening situation for people who are at high risk with other issues. but we've made enormous progress, and i think you're going to see enormous progress on vaccines quickly, between now and the end of the year. last week the president made a major announcement with 150 million new point

mr. powell will use all the tools available to him. up went gold.rice of gold has gone up during the pandemic and over the last couple of years, but you wouldn't make as much money in gold as you would have made if you got into the big tech stocks. >> no question. stuart: are you -- [inaudible] >> i do not understand high-tech. i will never understand tesla, for example, selling more than the value of gm, ford, fiat chrysler combined. that makes no sense to me. if other people are making money, i wish them well, i hope it continues in their favor, but it will continue to move higher without me, and if it moves lower, it will do so without me also. i'm not old enough -- i'm not young enough, i guess i should say, nor high-tech specialty enough to understand what's going on there. god bless 'em, i hope they do well. stuart: yeah, well, i don't understand technology, but i got into it, and i did quite well. >> well done. stuart: okay. thanks very much. i had some help. dennis, thanks for joining us, we appreciate it. we'll be watching gold closely. tha

through our own abilities which are in fact limited when we have more clarity like in the case of mr scrooge powell who will try to forge a reaction on the european level. alexina valmy remains in an induced coma in hospital in berlin doctors have released a statement saying there is no and no acute danger to his life but they can't rule out what long term affects this he may have from being in this induced coma that has being calls from media here in germany for the german government to pull out of to drop the huge north stream to project altogether but i'm increasingly convinced the germany should pull out of the nord stream to project russia's president putin is turning increasingly into a dictator who persecutes opponents including by means of poisoning attempts the poisoning attack on the russian opposition leader must lead to targeted reaction the baltic sea nordstrom to should not go into operation when it comes to north stream 2 which would see russian gas pipe directly from russia into germany the german chancellor remains steadfast in her opinion. i think that we should be coupled these i

mr. powell's best friend and protÉge always knew he had the identity. >> and to be put through when the worduld stop the whole thing. colossal waste and huge acreage and quite unforgivable performance. >>host: in pittsburgh pennsylvania e-mail i never heard you what that political philosophy means as trotsky. >>. >> he says that he got it right. >> this goes back to it was very vivid at one point in the socialist movement with the supporters of joseph stalin and the left opposition and one of those of the red army and tried to set up the international revolutionary organization to oppose joseph stalin's policies and against the rise of hitler. his best writings warning is what would happen if it came to power in like i did with him being assassinated. but in the meanwhile with the world of literary modernism and was closely associated with the new yorker intellectual kevin greenberg. and considers himself to be in a small way so the word that represents the allegiance that is now buried and lost of revolutionary thought and action that is charismatic. that sounds cryptic look at the biograph

mr. powell that is also with the fed so able to change some of the ways a were doing things i won't go into all of that now but we absolutely changed the way that the main street facilities was operating with the feds. we absolutely was able to get the $60 billion and more to the cdfi, so i'm so thankful for your work, ms. beatty. so thankful for this hearing. i'm so thankful for the witnesses for telling us how we can even do better and i'm looking forward to correcting some things, to look at the fintech to open up another opportunity and i yield back the balance of my time and and i tk you for allowing me this time. >> thank you very much to our chairwoman. now the chair recognizes the gentleman from west virginia's second district, mr. mooney. mr. mooney, are you unmuted? >> yes, i am unmuted here. i don't have any further comments. thank you. >> thank you. the gentleman yields back. >> yield back. >> now it is my distinct honor to introduce the subcommittee chairman, chair of housing and community development and insurance, you are recognized for five minutes of questions. >> thank you

mr. powell and mr.fully profited from and the excessive salaries they concerned while employees and to pay penalties. in addition to remove them from the leadership immediately and to ensure that none of the four individuals can ever serve on the board of a charity in new york state again. that is what we are seeking and it will be up to a judge to decide whether or not we are successful in getting that relief. >> attorney general james, do you expect any criminal referrals out of this? >> our investigation is still ongoing. at this point, this investigation, this complaint primarily is focused, is civil in nature. if we uncover any criminal activity we'll make a referral to the district attorney of manhattan. >> all right. new york attorney general letitia james, thank you so much. we appreciate you being so generous with your time. >>> 1.8 million jobs were added last month, the unemployment rate dropped to 10.2%, down from 11.1% in june. and with us now, former treasury official and "morning joe" eco

mr. powell, chairman federal reserve board basically, and the president i might add wanted to fire on moresion has given the investors a long-term put trying to keep rates at zero for a dramatic ped of time. led to marked valuations and frankly the president should kiss the chairman on all four cheeks in my opinion and also -- >> four cheeks >> all four cheeks i won't go beyond that also we have a president that will say and do anything to get re-elected and he's watching the stock market. and so all of that is positive, but i understand what's going on, but frankly i'm uncomfortable at the present time not because of the virus and it's not because of the economy. i've been on this show repeatedly i've said i'm optimistic they'll find a cure for the virus. taking longer than i thought but i'm sure they'll find a cure i'm optimistic the economy recovers but focused on who pays for the party when the party is over this nation just sell drat brated its 244th birthday. took us that long to go to a $21 trillion debt. this year end $25 trillion, $26 trillion thereabouts growth rate in debt far i

mr. gleason. ms. powell: no. judge millett: and after the district court issued that order appointing mr. gleason, where's your objection? ms. powell: the separation of powers objection was already on file. judge millett: that was a different amicus. where is -- the big argument here has not mentioned once the brief about the watergate prosecutor's, it's all about mr. gleason's appointment to take over the prosecution to inquire and scrutinize mr. gleason's arguing for this, to scrutinize the governmental motives. where is your opposition to the appointment of mr. gleason? ms. powell: our original opposition i believe was on 201 and 203. judge millett: this'll work a lot better if you let me get my questions, sometimes i just need a quick yes or no. you made no opposition, no objection to the appointment of mr. gleason, you're just referring back to argument you made to the watergate amicus. and in his minute order on may 19, setting up this briefing schedule and amicus, the district court said the following sched

powell sayhat mr. something about that. there also be questions about what is in the fed's toolkit. they using the right tools? quantitative easing. will there be anything on guidance, yield curve control? probably not. but potentially. it also has big consequences potentially for the european central bank. if the fed goes down the route of average inflation targeting, it may be that the ecb wants to do that as well. i suspect it could be tricky. if they decide to raise the inflation target 2% in europe, it might be a bit of a challenge to get the whole continent to also say let's go down the route of average inflation targeting as well. guy: how do i think about this -- i am trying to wonder what the best way of portraying what is about to happen and if it is significant. is this the mirror image, the intense this is -- the antithesis, of voelker? is it that kind of impact we should be thinking about this? inflation toing run hot for an extended period of time. dr. buckley: i do not expect they will run it too hot because then the expect tatian is it will start to run away from you

>> i think the speech by colin powell and the video with mrs. was more powerful than last night. these are well-known figures. thas that two, maybe try presidential elections. he calls himself a republican, he doesn't behave like one. there is about 12% of this country that are soft republicans. they agree with donald trump's policies. they don't like his persona. that point tonight, that piece of the convention tonight was really about saying to those soft republicans, hey, you know, go with joe biden. it's okay to vote against trump, even though you really like what he's doing on the economy and other things. >> and linsey, that's why i said earlier tonight that he's got to get back to talking about his policies. what the president needs to do wne policies. that's the way he wins those people back that sarah's talking about. i the trump show next weeks the trump circus and all about persona, that's a loser for him. if he talks about the things he wants to do with four more years, i think that's chance he has to draw those republictans andof s

mr. biden, along with general powell and others. what did you think of that?ick: she's really there supporting her husband, who passed away with a 40 year relationship with joe biden. it wasn't an endorsement, per se. but when she got a call from the biden campaign to help narrate a little story about the relationship between the two of them, she jumped at it because she knew there was a special relationship there. john mccain, when he was in the navy, met joe biden as a navy liaison to the senate, and traveled all over the world. even though ultimately, as a senator they disagreed a lot on policy, they lived in an era where you could do that and still have a cocktail at night. so i think he wanted to honor we don'tage, which is have to be strictly partisan in everything we do. there are things that are good for the country, and you put that ahead of politics. tom: i thing i hear a dog in the background. no doubt that is lincoln the dog. [laughter] rick davis, thank you so much come with stonecourt capital today. our coverage continues. david westin switches g

we heard from general colin powell endorgs joe biden and the party's faithful mrs. carter and alexandria ocasio-cortez they spoke of president trump of his record, his character, and others looking forward to the parties' future. biden says he's looking forward to tonight >> all right hey, guys. >> thank you very, very much from the bottom of my heart. thank you all. it means the world to me and my family, and i'll see you on thursday we'll see that again today when he speaks to the black caucus, spanish caucus, and we look ahead throughout the day >>> president trump visited a pair of battleground states in iowa where he offered federal support after he helped rebuild last week and tospoke at the border wall. >> biden's plan is the most radical, extreme, reckless, dangerous plan ever put forward by a may party candidate. >> a bipartisan senate panel just released a mattiv were eager to accept help. pete, what else is in the report >> this is a bipartisan report from the senate intelligence committee endorsed by republicans, too, giving it extra weight like the mull

powell spoken spoken spoke. and a scribbled note, and laid it down for valerie. it's a dear adam, mr. randolph want you to know two things. one, we must be out of here in 1032, missus roosevelt as if to speak. ms. later powell picking him up and read it. he heat his chest out a little more and the congressman said, i have a note here handed to me. anyone know who he is ? and he said, we have to be out of here by 1030. has he never heard about freedom. the only reason we would have to leave here is because we would have to pay more money. everybody in here who is in favor paying for our freedom, raise your and. and hands, and thousands wet. you must pay for freedom he thundered. and if we want to stay here until noon tomorrow, we will stay. and we will speak to this nation and we will let them know that we will pay for our freedom. but mr. enough to make you need not worry. the baptist church will pick up the check and he walked off. these offering them all they would not forget adam clayton powell on the return itself. two weeks later, randolph received a bill of the mall. it was for $

powell fromine speakeristening to this from texas. mr. speaker, i have a bomb into both hands and i am ready to hurl them. he had a great relationship with constantlyt he is pressing the envelope in the house. andets onto the education labor committee, a very influential committee particularly by the 1960's when we go through a reform. during the kennedy and johnson administrations and at the start of the great society with lyndon johnson. committeerman of the and it pushes through 50 different measures related to education reforms. substantive legislator in horseon to having a show kind of style, very flamboyant. interestinge things about him is at the two aspects. there is one of the things where he is known as mr. civil rights. he championed civil rights on all levels, both legislatively and into the life of the house. even something as seemingly minor as sitting in the house chamber and where you sit in the house chamber, that came up for him. >> there is another story his biographer tells. speeding in the house chamber is open as lon

powell looked at him and said, mr. speaker, i have a bomb in both hands, and i'm ready to hurl him. but he had a great relationship with rayburn, according to rayburn's account afterward. he gets on the influential committee. particularly by the 1960s when we go through i reform period during the kennedy and johnson administrations, and particularly at the start of the great society with lyndon johnson, he's chairman of the committee. and it pushes through 50 different measures related to education reforms. so, a very substantive legislature in addition to having a show horse kind of style. very flamboyant. >> one of the things that's interesting about him is those two aspects because there's a part where he's known as mr. civil rights. and he's very willing to -- he's very willing to champion civil rights on all levels, both legislatively and into the life of the house. i remember you telling me once about something even as seemingly minor as sitting in the house chamber and where you sit in the house chamber, that too came up for him. >> there's another story that one of his biogr

listening to this texan from bonham, texas, explain to him the ways of the house, and powell looked at him and said, mr. speaker, i have a bomb in both hands and i'm ready to hurl them. so, but he had a great relationship with raburn, according to raburn's account afterwards. and but he is constantly pressing the envelope in the house. he gets onto the education and labor committee, very influential committee, particularly by the 1960s when we go through a reform period during the kennedy and johnson administrations, and particularly at the start of the great society with lyndon johnson. he's chairman of the committee, and it pushes through 50 different measures related to education reforms. so a very substantive legislator in addition to being -- having a showhorse kind of style. very flamboyant. >> well, one of the things i think is interesting about him is that those two aspects, because there's the part where he's known as mr. civil rights, and he's very willing to -- very willing to champion civil rights on all levels, both legislatively and in the life of the house. i remember you telling me once

powell's speech. usually it is a different speech. i believe mr. bailey, to attend as well, and the virtual conference. holger schmieding, are you looking at the real yield, the yield minus inflation to the real yield, or are you looking much more at the nominal yield and inflation expectations? course, look much more actually at the nominal yield, and to some extent at inflation expectations. inflation expectations matter for central banks, and the key question to ask is how long will rates stay as low as they are? and the answer is probably with inflation expectations remaining comfortable in the territory that central banks would like, central below that, bank policy rates can stay low for longer, which is no surprise. that is what we look at. tom: what is the price of that? i mean, you have been one of the best people i know on the chronic nature of negative interest rates in germany. what is the price to a banking system? what is the price to society, indeed, of chronic negative rates, or a chronic negative real yield? holger: well, germany is

mucarsel-powell will vote no on the motion to recommit. and, mr. speaker, as the member designated by mr. hastings of florida, pursuant to house resolution 965, i inform the house that mr. hastings will vote no on the motion to recommit. and mr. speaker, as the member designated by mr. payne of new jersey, pursuant to house resolution 965, i inform the house that mr. payne will also vote no on the motion to recommit. the speaker pro tempore: for what purpose does the gentleman from pennsylvania seek recognition? as the member designated by -- pursuant to house resolution 965, i inform the house that ms. lofgren of florida votes nay on ecommit. the speaker pro tempore: for what purpose does the gentleman from texas seek recognition? >> as the member designated by mr. peterson, pursuant to house resolution 965, i inform the house that mr. peterson will vote nay on the motion to ecommit. the speaker pro tempore: for what purpose does the gentleman from new york seek recognition? >> mr. speaker, as the member designated by representative lowey, pursuan

mr. stanley joins us this morning. i want to get the jay powell.to ask about your fabulous research note on how difficult it is now to figure out jobless america. how unemployed is america right now? what is the real unemployment rate? steven: it is a tough one. whoink a lot of the folks were laid off have come back. there is still a terminus number who have not. some of those people will be called back over the next few months and there is a subset that are just not going to be and have to find jobs in different industries. i think we are still in a period of transition with the labor market is improving but there will be a lot of structural change in the next two years. tom: what is the true stanley statistic? somewhere in the vicinity of 14% right now. what is your statistic? stephen: that seems a little high but it is certainly above 10%. the good news is that the federal government has taken very good care of households. household income is higher today than it would have been in the absence of the pandemic because of the federal support we ha

powell to read. dear adam, mister randolph wants you to know two things. mrs. roosevelt has yet to speak. he heaved his chest out a little more in the congressman said i have a note here and anyone wants to know who he is? he says we have to be out of here by 10:30, never heard about freedom. the only reason to leave, we have to pay more money to stay. everybody in here in favor of freedom raise your hand. thousands and thousands went up. if we want to stay here until noon tomorrow we will stay and speak to this nation, paid to our freedom. abyssinian baptist church will pick up the check. and he walked off. martin luther king jr. -- they would not forget adam clayton powell when he returned south, randolph received a bill in the mail for $6,000. the extra hours for the madison square garden attendance. john f. kennedy admired powell a great deal. when john f. kennedy was elected adam clayton powell became chairman of the education committee, two separate committees, he was very very powerful and under lyndon johnson actually the legislation began to gush forth. the war on poverty, we owe

bush's former secretary of state colin powell will speak, he also backed former president barack obama. former president bill clinton is said to sharply rebuke mrump d econic dowurn. of the pandemic that follows michelle obama who's take down of mr. trump last night. >> donald trump is the wrong president for our country. he has had more than enough time to prove that he can do the job, but he is clearly in over his head. he cannot meet this moment. he simply cannot be who we need him to be for us. it is what it is. >> reporter: the president lashed out at mrs. obama on twitter and to reporters. >> you know, she was over her head. i thought her speech was very divisive, and, frankly, i wouldn't even be here if it weren't for barack obama. >> reporter: mr. trump also claimed he had never heard of former homeland security official miles taylor, who endorsed biden yesterday. but taylor today tweeted photographic proof and said other republicans will soon follow his lead. polls continue to give biden an edge on president trump. but on the question of which candidate is best equipped to fix the economy, mr. trump still has the lead. so biden is call

jerome powell today, he will bestow gifts on the market according to james karen at morgan stanley. mr. chair looks for a weaker dollar. michael mckee will not be having his game day mountain man breakfast at the account aimed -- acclaimed pioneer grill. danger clear and present , hurricane landfall -- hurricane laura. in joe biden'sfe america, so says vice president pence. meanwhile, the former football coach of notre dame says mr. biden is catholic in name only. york, annane in new edwards and for francine lacqua. i want to go to the eu. this is a story off of our radar in america, but the eu has a bit of a people-riot going on. a people-debate going on in the senior ranks. anna: absolutely. trade commissioner phil hogan forced to resign because he attended a golf event which had normal times would not be that controversial, but these are not normal times. it is being investigated as to whether it broke the covid rules in ireland. as a result, he was under pressure and had to defend himself. commissionropean needs to find a new person to fill that very busy trade brief. but this sets

mr. hastings will vote yes on h.res. 9 -- 1092. as the member designated by ms. mucarsel-powell of florida, pursuant to house resolution 965, i inform the house that mucarsel-powell will vote yes on h.res. 1092 as well. the speaker pro tempore: for what purpose does the gentlewoman from kansas seek recognition? >> as the member designated by i inform the house mr. clay will vote yes on h.res. 962. the speaker pro tempore: for what purpose does the gentlewoman from massachusetts seek recognition? as the member designated by ms. brownley, pursuant to house resolution 965, i inform the house that ms. brownley will vote yes on h.res. 1092. as the member designated by ms. frankel, pursuant to house resolution 965, i inform the house that ms. frankel will vote yes on h.res. 1092. s the member designated by ms. kuster, pursuant to house resolution 965, i inform the house that ms. kuster will vote h.res. 1092. as the member designated by ms. meng, pursuant to house resolution 965, i inform the house that ms. meng will vote yes on h.res. 1092. and as the member designated by ms. pingree,

jerome powell today, he will bestow gifts on the market according to james karen at morgan stanley. mror a weaker dollar. michael mckee will not be having his game day mountain man breakfast at the account aimed -- acclaimed pioneer grill. danger clear and present , hurricane landfall -- hurricane laura. in joe biden'sfe america, so says vice president pence. meanwhile, the former football coach of notre dame says mr. biden is catholic in name only. york, annane in new edwards and for francine lacqua. i want to go to the eu. this is a story off of our radar in america, but the eu has a bit of a people-riot going on. a peopat