jay: absolutely.rd-quarter growth in this country will be quite strong, on the order of about 30%. but there is a big difference between growth rates and levels. we don't think we are going to get back to the level of gdp, the size of the economy, where it was at the end of 2019, until the end of next year, early 2022. that means we are not going to get back to the level of employment for quite some time either. unemployment will remain quite high. we are going to have an elevated unemployment rate for a while. that doesn't necessarily mean that growth has to be negative. but it does mean that people they willt find jobs, find it is more difficult to get back in the labor force. the capacity of the economy just is not what it otherwise would be. that is a long-term consequences of having a high on a plummet rate for a while. theie: on a side note, dollar index getting above 90 for today. the yen below 105. thedollar index, are concerns of a weaker dollar will work because europe is seeing a resurgence

the jay powell and steve mnuchin hearing.et back to the conversation we are having with bilal. , as we look to what is happening on capitol hill. ,ou have the treasury secretary fiscal and you have the fed chair, monetary. if we don't see the fiscal side delivering because the republicans decide filling the vacant seat on the supreme court is more important then stimulus, what can monetary policy due in the near term to compensate? a very goodis question. interest rates are incredibly low and the fed has announced its new inflation program. there are some things it could do. they have already announced more guidance. what they could do was start to announce some type of yield control. that could be one thing they could do. could be morethey aggressive in the language around inflation overshooting which starts to impact expectations and thereby drive down real rates. those are the tools they could have. i think it is unlikely they will use them. it's only if we see a much larger correction in markets that we are likely to see

to do that jay powell do that jay powell old whoa whoa whoa whoa whoa whoa whoa whoa whoa whoa whoa move would get rid of this is not virtual this is real they had virtual jackson hole and now it's are profoundly consequential zirp for ever essentially we're going to have a 0 percent interest rates for 0 for 5 years that was on the advice of plucky plucking once again professionally consequential to the world monetary system so those are forever as we have predicted here for years on report remember we said you can't taper a ponzi and it turns out you cannot taper a ponzi they're admitting that of course a lot of people love it because what happens to the markets boom right and mark i got my money again i got my money again my name is jay jay jay i got my money gun i got my money gun all i do is pretty oh good day because i like to see the stocks you want because like all the stock myself and i'd like to retire a billionaire i work a hedge fund like all the other extra presidents do and make more billions because i like my money because they're locked up 100. more to come i'm a work in p

jay jay powell i got my loaded gun i got my money gun all i do is pretty oh. because i'd like to see the stock you want because like all the stock myself i'd like to retire a billionaire i worked a hedge fund like all the other extra presidents do and make more billions through because i like my money because a lot of money. more to come on the work in progress. well i found an analogy for what is happening here is that an analogy or metaphor anyway i found in the chicago tribune it's called vomit fraud and it could make your trip really expensive so you know you get into your burger at grand central and take it down to freedom tower and you think a 2527 bucks that's pretty good the next day you tune in to your account and you find that you can charge $150.00 and there's a photo of vomit that you allegedly left in the backseat well this is apparently at the moment where the drivers are claiming that somebody vomited in their car. and that you're being charged $150.00 so this is what i'm saying is when you look at our financial system that's in fact what you're

powell to bail out his his used lunch jay powell will do it because he has to because of the public's perception so he's got to maintain perception for the bag holders that there'll be a fed put the fed will buy their bags down they'll do that so the way to do it is you've got a classified as a strategically important institution for the american economy that's like all the banks got under that category yes if last a good bench a pile that tesla is a strategically important financial institution then jay powell will be buying tussle stock and bailout they've poured me. doesn't care he's already bailed out he's already sold all his shares he's got billions and billions of dollars he's got tens of billions of dollars when he had access to the media and he said go on joe rogan you need to go on day 40 show so therefore he would have to classify tesla. as a strategic underlying a valuable asset to get the bail out for dave portnoy and to help his being remember it's all about me management well dave portnoy is the jim cramer of this era perhaps we don't know it like he's buying also he's

this has to do with what jay powell said yesterday.some of the things that also would move on the back of a fed statement. you can see the u.s. 10-year point 2822.o -- 0.6822. automakers are slumping. this is bloomberg. ♪ ♪ you can go your own way ♪ go your own way your wireless. your rules. only xfinity mobile lets you choose shared data, unlimited or a mix of each. and switch anytime so you only pay for the data you need. switch and save up to $400 a year on your wireless bill. with the carrier rated #1 in customer satisfaction. call, click, or visit your local xfinity store today. francine: three more years, the fed predicted rates will stay near zero through at least 2023, but jay powell's caution on the economic rebound ways on stocks. stencil expected, dovish noises from the bank of england today. even as rates go nowhere in westminster, horace johnson attempts to get his brexit plan through -- boris johnson attempts to get his brexit plan through parliament. and president trump says a vaccine for coronavirus could come by octobe

lewin adam jay lewis jennifer lewis kenneth e.argaret susan lewis ye wei liang orasri liangthanasarn [bell ringing] daniel f. libretti ralph michael licciardi edward lichtschein samantha l. lightbourn-allen steven barry lillianthal carlos r. lillo craig damian lilore arnold arboleda lim darya lin wei rong lin nickie l. lindo thomas v. linehan, jr. robert thomas linnane diane theresa lipari kenneth p. lira ara©valo francisco alberto liriano lorraine lisi paul lisson vincent m. litto ming-hao liu nancy liz harold lizcano martin lizzul george a. llanes elizabeth c. logler catherine lisa loguidice robert lohez michael william lomax stephen v. long laura maria longing salvatore p. lopes daniel lopez george lopez luis manuel lopez maclovio lopez, jr. manuel l. lopez joseph lostrangio chet dek louie stuart seid louis joseph lovero sara elizabeth low jenny seu kueng low wong michael w. lowe garry w. lozier john p. lozowsky charles peter lucania edward hobbs luckett mark gavin ludvigsen lee charles ludwig sean thomas lugano daniel lugo mar

jay jay i got my money gun i got my money gun all i do is pretty oh good day because i like to see the stocks you want because i know the stock myself and i'd like to retire a billionaire i work a hedge fund like all the other extra presidents do and make more billions because i like my money because a lot of money. more to come i'm a work in progress. well i found an analogy for what is happening here is that an analogy or metaphor anyway i found in the chicago tribune it's called vomit fraud and it could make your trip really expensive so you know you get into your grand central and take it down to freedom tower and you think a 2527 bucks that's pretty good the next day you tune in to your account and you find that you can charge one $150.00 and there's a photo of vomit that you allegedly left in the backseat well this is apparently right at the moment where the drivers are claiming that somebody vomited in their cars.

lewin. >> adam jay lewis. >> jennifer lewis. >> kenneth e. [bell ringing] [bell ringing] [bell ringing] [bell ringing] [bell ringing] [bell ringing] [moment of silence] >> orasri liangthanasarn. >> daniel f. libretti. >> ralph michael licciardi. >> edward lichtschein. >> samantha l. lightbourn-allen. >> steven barry lillianthal. >> carlos r. lillo. >> craig damian lilore. >> arnold arboleda lim. >> darya lin. >> wei rong lin. >> nickie l. lindo. >> thomas v. linehan, jr. >> robert thomas linnane. >> alan patrick linton, jr. >> diane theresa lipari. >> kenneth p. lira arevalo. >> francisco alberto liriano. >> lorraine lisi. >> paul lisson. >> vincent m. litto. >> ming-hao liu. >> nancy liz. >> harold lizcano. >> martin lizzul. >> george a. llanes. >> elizabeth c. logler. >> catherine lisa loguidice. >> jerome robert lohez. >> michael william lomax. >> stephen v. long. >> laura maria longing. >> salvatore p. lopes. >> daniel lopez. >> george lopez. >> luis manuel lopez. >> maclovio lopez, jr. >> manuel l. lopez. >> joseph lostrangio. >> chet de

joining us with more reaction, he's the chiefbr counsel, jay sekulow. jay? >> it's quite a day.ou know, i thought back over the fact that i had the privilege and honor of presenting oral arguments before justice ginsberg since the day she was worn in and confirmed and became a justice 27 years ago. so i've had a long history with justice ginsberg. you know, all i can say is first of all, thoughts and prayers for her family. let me say this about justice ginsberg. whether you agreed with the legal position or not, she was a very, very smart brilliant lawyer, advocate and justice. even when she disagreed with me, which was frequent, but not always, i always remembered fondly that my mother went to the same high school as justice ginsberg, james madison in new york. while i made oral arguments in front of the supreme court with justice ginsberg, reminded me of the arguments i had with my mother growing up, a degreessive but not hostile. this is a day to reflect on the good things. that is that this is a woman that made some real history, she also -- whether you agreed with her lega

jay naismith. and we start to have college football. the first college football game took place between 1869 between princeton and rutgers. rutgers won for those of you who play trivia, 6-4, if that ever comes up. that game was very violent, but theirs was far worse. no helmets. no notion of unnecessary roughness. the same came close to getting banned a couple of times but there was a commission to discuss all of the carnage taking place on the college football fields. indeed, carnage is the right word for it. it's been estimated that in the year, the president in question held this commission, 1905, there was as many as 45 deaths on college football fields. and one historian estimates that -- that was in the five years leading up to the commission. in the year 1905 itself, it's been estimated that college football games produced 18 deaths and 159 catastrophic injuries. and so we need to do something to organize this and make it less bloody and so they've worked on that. it wasn't only the working classes who found modern society and so

is jay powell there yet? he is coming up but let's go to jay powell. >> good afternoon. as of at the federal reserve we are strongly committed to achieving the monetary policy goals the congress has given us. maximum employment and price stability. since the beginning of the pandemic we have taken forceful actions to provide some relief and stability and to ensure that the recovery will be as strong as possible and to limit lasting damage to the economy. today my colleagues on the federal open market committee and i made some important changes to our policy statement, including an update to our guidance for the likely path of our policy interest rate. guided by our new statements on longer run goals and monetary policy strategy that we announced a few weeks ago these changes clarify our strong commitment over a longer time. before describing today's policy actions let me briefly review recent economic developments. economic activity has picked up from its depressed second-quarter level when much of the economy was shut down to stop the spread of the virus. with the reope

jay gray there with more i love seeing you on the show but i hate for the reasons you've been on, whichas been storm after storm. >> reporter: no, brian you are absolutely right it is going to be another rough one here continues in mobil, not that bad. mobil bay is calm at this point. that's all going to change dramatically over the next 24 to 36 hours as sally moves in a warning shot rain and gusting winds as sally stocks the gulf coast. the storm intensifying threatening the area from louisiana to the florida panhandle. pushing thousands into the strike zone. to prepare, stocking up. >> water and it might flood, lights might go out. >> sally, one of five tropical cyclones in the atlantic right now, which has only been that crowded one time since scientists have tracked storms the slow pace is a concern >> we'll have a ton of rain and we have to deal with storm surge. >> water likely pushing into areas it is not supposed to be and staying for a while. that water may be sally's most dangerous weapon forecasters predicting a surge in areas of a foot and a half or more >> you know, jay, w

i found an atlantic connection i didn't realize and that was jay sekulow. >> i rafe written two book about the supreme court, one book called "the nine in'" and lamb whole chapter but jay czech sekulow. he is an important figure in american law and it's a -- he has personally a wild fascinating story. >> you may want to remind the audience what his role in this -- >> i'm answering it in new york magazine style. >> turn a few pages. >> jay grew up in long island and was nice jewish boy from long island. he came to -- his family moved to atlanta when he was teenager and jay was not a particularly grate great student and he wound up going a school that i don't think goes by this name anymore but atlanta baptist college. >> didn't ring a bell. >> doesn't go by that name anymore. he goes because it's local and at that time he has a religious awakening. he becomes a member of a group called jew ford jesus which people may know they do a lot of -- in airports and other plays and it is not really jewish, it is an evangelical christian group, and jay guess to law at mercer, and then he -- jay

today, kate brown had the nerve to call jay a white supremacist.omething that they know nothing about j jay. nobody in antifa, black lives matter, kate brown, ted, nobody even understands who jay is in his heart. and this is their attempt to simply justify murdering him in cold blood on the streets. this is the attempt of the far left to dehumanize people so that we don't treat them like humans, but the truth is jay is a human. human, has feelings, a great guy and we need to treat them that way. >> mike: has there been an infiltration of other groups into your group and do you regret that? >> i don't understand what infiltration is, because in the past with row rallies, anyone can show up. antifa shows up, it doesn't make me a commie. one of the biggest reasons we stopped organizing portland is there shone a people who showed up or hateful causing problems. what we like to do is go out there and advocate for people who need help in cities where they actually believe in the constitution. >> mike: you lost one of your guys over the weekend, is that g

fed predicted rates will stay near zero through at least 2023, but jay powell's caution on the economic rebound ways on stocks. stencil expected, dovish noises from the bank of england today. even as rates go nowhere in westminster, horace johnson attempts to get his brexit plan through -- boris johnson attempts to get his brexit plan through parliament. and president trump says a vaccine for coronavirus could come by october. the death toll approach is one million. good morning, everyone. this is "bloomberg surveillance ." i'm francine lacqua and london, tom keene in new york. we heard from the vice president of the european central bank, saying they are looking at euro levels and the ecb also offering a bit of capital relief, or capital relief to banks in order to cope with the pandemic. away,hey are all flailing and you felt that yesterday with mr. powell. it was under store neri moment. i cannot underscore enough the originality of what was being accomplished yesterday, francine. i was sitting there with michael mckee, and his press conference question was superb. they are all deali

that's according to fed chair jay powell. testify before lawmakers. we will look at what he will say. this is bloomberg. ♪ ♪ manus: this is "bloomberg daybreak: europe." i manus cranny in dubai. annmarie hordern in london. jen -- downs in the u. new restrictions. a quex nap shot of the market. taking amarket also tumble. you see some small reprieve in those markets this morning. we will get back to those in just a moment. let's talk about the other major theme in markets. it's about the fed officials. they believe inflation will exceed the target, and could do so soon. president-- the fed frank bullard said lifting prices would work as a begins to react a little less aggressively to the virus crisis. we have to act a little less aggressively to the shots. that will lead to higher inflation expectations and we will end up exceeding the target. if there was ever a time when he thought that may the ingredients for inflation are in play is through that gigantic fiscal deficits combined with the and really rapid growth, off the charts rapid growth. you pro

still adjusting from comments that came out from jay powell. they said they are going to keep rates unchanged for another three years but we did not get that much guidelines on the qe, or hear much positive note from jay powell. saying the pace of activity could slow from here. they need further fiscal stimulus. that is unnerving investors. mostly lower for asia stocks. jakarta coming online and u.s. and india futures in the red. the dollar gaining some ground after paring losses after that meeting. fx sellinging asia off, especially the renminbi after reaching may 2019 highs. there are signs perhaps the currency is being overbought. expecting boj, boe, and bank indonesia today. those currencies and focus. watching the bond market as well put it did not get adjustments on qe from the fed. we saw the 10 and 30 yield spike coming off a little now but that did lead to earlier the yield curve steepening and coming off a little. we are watching brent crude as well as wti. also saw -- off some of the highs we saw overnight. there is optimism for dema

. >>> and from justin timberlake's new mission to a new gig for jay leno to the mom making a surprise visit during her daughter's audition video, all the trending stories this thursday morning. >>> good thursday morning, everyone. we begin with the white house firing back after the release of those bombshell audiotapes. >> the tapes reveal that president trump admitted downplaying the coronavirus back in february. he spoke out late last night. abc's faith abubey begins our coverage. >> reporter: this morning, the white house fighting back responding to recordings made public in which president donald trump acknowledged he understood the deadly threat posed by the coronavirus back in february but misled the public about it. journalist bob woodward interviewed the president february 7th, 1 of 18 on the record interviews for woodward's book, "rage." >> it goes through air, bob. that's always tougher than the touch. you know, the touch, you don't have to touch things, right, but the air, you just breathe the air, and that's how it's passed. and so that's a very tricky one. it's also more

jay powell says the recovery has been faster than expected.ctivity remains well below pre-pandemic levels. >> we believe that this very strong forward guidance, very powerful forward guidance we have announced today will provide strong support for the economy. rates will remain a connotative until the economy is far along in the recovery. that should be a powerful statement and supporting economic activity. inflation persistently below 2%. inflationm to receive above 2% for some time. the average is 2% over time. longer-term inflation expectations remain anchored at 2%. the labor market has improved. it's a long way from maximum employment. my sense is that more fiscal support is likely to be needed. the details are for congress, not for the fed. we believe strong policy guidance will serve the economy well by promoting our goals through the many possible paths the recovery may take. long were covering for that labor market. joining us now to discuss all of it is marija veitmane. thank you for joining us this morning. powell talked about the f

jay grew up in long island and was a nice jewish boy fromlong island . his family moved to atlanta when he was a teenager and jay was not a particularly great student in those days and he wound up going to the school that i don't think goes by this name anymore but atlanta baptist college. kent, tony. >> it doesn't ring a bell>> it may not go by that name anymore . he goes because it's local and at that time he has a religious awakening and becomes a member of a group called jews for jesus. they do a lot of proselytizing in airports and it's not really jewish, it's an evangelical christiangroup . jay goes to law school and at mercer in which is also in jersey and he does a couple different things but he starts representing jews for jesus as their lawyer and he starts doing these first amendment cases about jews for jesus being allowed to proselytize and i will go there through the whole story but j winds up becoming an effective advocate for the evangelical community. he hooks up with pat robertson. he starts a book a group called the american center for

, jay, jay, listen to yourself you just named exactly why it's not working. business and international travel i want to go someplace let say you want to go to italy. you get on a plane you fly to milan and get off the plane and they put you back on the plane. i don't think that's a good use of time and money. let go to mark in florida. >> caller: hi, there, jim. i'm looking for great cramer insight you share with us. >> that's very kind. >> caller: on the group of packaged food stocks and one stock in particular. the group seems to be coming steadily down with the possibility or likelihood with an uptick in the coronavirus this fall, campbell and kellogg are getting hit especially hard. >> yeah. >> caller: what is your outlook for the group in general and bng foods? >> the group has come down too much too hard. people like marriott more than campbells. i get that we had ken on and he made a compelling story about how bng's dividend is safe and can grow at 7% now and business is better than expected because of green giant. i like the stock you can't understand

waiting for any kind of clues from jay powell later on today.h drifting higher here. nasdaq futures at least are turning positive now. take a look at what we are seeing in terms of movers. chinese airlines go from strength to strength. citigroup once again saying these airlines can add to this rally. they are looking ahead to -- the national holiday in october after capacity improvement last months. they said that they are looking at some of these china tourism related stocks that could get a boost from that golden week as well. take a look in terms of the renminbi. we reached the 2020 highs. now it looks like we are on course for the best quarter on record. , 4% gain fornbi the september quarter. you got a wonder house -- how much strength policymakers are willing to tolerate. that is why they have been quiet. you see why. because of not just what it is against the dollar. you have to look at it against the basket. we have not seen as much appreciations against the currencies in that basket. policymakercup the is more comfortable with where it

jay, great to see you tonight.. >> thanks, laura. >> laura: there was actually a biting moment from today that raymond missed. "the last bite" reveals that. stay right there. picked >> laura: we assume we'ld see see all the best abide in moments but somehow this one slipped to the cracks. >> we'll be back stronger than we were before. i want to thank you all, i want to carry with me, i gave it to my staff -- but i carry with me in my pocket, do i have it around? where's my staff? >> laura: oh come on come out like a patient calling out for his nurses. that's all the time we had tonight, shannon bream and the "fox news @ night" team take it from here. >> shannon: busy news day, thank you very much. we start with breaking news tonight, secretary of state mike pompeo joins us exclusively in minutes, with just 55 days to go until the presidential election, the president pushing ahead with another campaign promise to bring more american troops home. the secretary pompeo responds to critics who call the move an election

jay, great to see you tonight.ou so much. >> thanks, laura. >> laura: there was actually a biting moment from today that raymond missed.yo "the last bite" reveals it. stay right there. yum! king's hawaiian. the worst genocide in human history also destroyed the lives of thousands of jewish survivors still suffering today. god calls on people who believe in him to act on his word. "comfort ye, comfort my people." when i come here and i sit with lilia i realize what she needs right now is food. these elderly jews are weak and they're sick. they're living on $2 a day which is impossible. this now, is how god's children are living. take this time to send a survival food box to these forgotten jews. the international fellowship of christians and jews urgently need your gift of $25 now to help provide one survival food box with all of the essentials they critically need for their diet for one month. no vitamins and no protein so my legs and hands are very weak. oh, oh, oh let's make sure that we bring them just a little

i'm jay gray. back to you. >> thank you, jay. >>> a much different scene in southern california where we're covering the bobcat fire this morning. that raging fire is now threatening historic mt. wilson observatory. flames burned within 500 feet of it yesterday. the observatory is more than 115 years old. it's also the home of the hubble telescope. some people use it as a hiking pass. it has burned more than 40,000 acres. >>> 4:53 for you this morning. still ahead on "today in the bay," the ransomware attack targeting one school district's computer system and the headaches it's causing those students. >>> plus, your voice, your vote. what you need to know ahead of the november election. >>> but first, happening now, congress is just out with a new report on the crashes involving two bowi iboeing 737 jets last . that report cites multiple missteps by boeing and the faa including plane design, management mistakes and regulatory. boeing said it has since made fundamental changes. the faa is mandating

closely eyeing messages from jay powell so far, looking at extension of some of the gains. a recovery from last week. it looks like we should continue in the areas of the markets and most of the gains on the back of the fed comments setting you up for what would be an interesting session looking at the market which is likely to have a much rosier forecast to try to communicate and give the message that the job is done at this point. just starting out at the unemployment rate, you saw 8.4% is below the rejection of the forecast of 9.3% this year already gone below what they thought the unemployment rate would be if you look at the amount of jobs lost. 11 million jobs from where we were prepandemic so still sim lus is required to bring more jobs back >> that's right. i think it will be interesting to see how the fed expects that unemployment rate will evolve from here to the end of the year on the stimulus front, jay powell has been so vocal about the fiscal stimulus urging for more relief. in light of the developments from washington, we haven't seen lawmakers be able to agr

wait clarity we from jay powell on the new inflation policy.ould put the dollar under threat. facebook versus the ftc, a possible antitrust lawsuit against the social network. kim kardashian urges her instagram followers to flee their account. some tradersds back to the table after employees tested positive for covid-19. does this derail jamie dimon's plan? good morning, i guess it is wait-and-see mode until we hear from jay powell later today. the note that caught my eye, markets confront a quad-fecta. and the fed needs to consider all this before their future guidance. outgunned ie to be somebody we both respect. it is all about this. asymmetric risk in the bond market is to the upside. with thelimits on it, fed tolerate a bond yield spiking? what would that do to the market and to yield curve control? course, all of this before the u.s. election, 48 days away, and this is the last fed meeting. everybody talks about the skinny brexit deal. nobody knows what will come down the pike. s&p, asia and european stock markets this morning -- trump sa

that is part of jay powell's operating system as well.oe: fifth third bank chief investment strategist. you will be sticking with us for more on the economic recovery and second chance hiring and again, building a more inclusive labor market. that discussion continuing next. this is bloomberg. ♪ caroline: today we are focused on other how the fed's decision during the crisis affects the real economy, which which -- which leads us to one of the big things we discussed over the past few months, our un equal focus. you are seeing permanent changes at the moment in terms of the labor force. joe: let's go back to a chart we have shown a few times because i think it really does set the stage for this discussion and that is that cap between temporary and permanent unemployment. , geted wants to target back to 3%. it is important to note that that headline number can be misleading. headlinehave seen the unemployment dropped impressively below nine percent again, permanent unemployment, that blue line is ticking up. as chair powell said today, we

. >> who do you -- >> jay. >> i'm sorry. what do you call him? >> jay. >> jay?ay. >> it's j.j. rush. i call him jay. >> reporter: that's right, her ex-husband, j.j. rush. small world. detective syers knew j.j. had run into him at crime scenes. jj was a medical examiners investigator. but why would cara shoot him? her answer was right there in the 911 call. >> my ex-husband came in and he raped me. >> he raped you? >> i shot him >> reporter: rape? but, that's all she said on the topic. until about two hours later, when she told a deputy she needed medical attention. >> i need to see a doctor. i've been hurt. >> reporter: it was detective syers' job to sort through it all, and he began by showing cara a bit of kindness. >> i went over and took the handcuffs off of her. >> she must have seemed pretty upset. she just shot her ex-husband? >> not unduly. >> really? >> no. >> reporter: mind you, according to cara, as she sat here in the car she didn't know how badly hurt j.j. was. >> so you thought he was alive still? >> absolutely. didn't even need an ambulance. >> re

jay, it's great to see you i loved what you were saying about your family.r. your parents thought a doctor, a lawyer, or a failure and you went off and became a > with all three of you monk you put all of this kind of knowledge you found in this book so what are you hoping people during this moment will take from this? >> it's so wonderful to be back with all three of you again. and my time living as a monk was like being at school and the last seven years since i left has been like the test or exam and in this book, i share each and every principle i've applied back in the world we live in today and just seeing the magic of all of the monk wisdom. help me find peace, help me find purpose, and more importantly help so many others how to navigate negativity and find calm in the chaos. >> a lot of people are probably thinking, huh. what can you possibly do as a monk that has any application in this crazy world we live in? how would you answer >> i'd say if you wanted to learn how to play tennis, you may want to learn from serena williams if you want to learn h

been destroyed down a few moments we're going to go to rob reynolds who's in oregon for us but 1st jay gray is joining me live from mobile in the state of alabama jay just talk us through the fact that this area is no stranger to bad weather it's been inundated bombarded with storms for many years how are people reacting to all of this. well we're on the west side of that storm and so we get an easing of conditions rather early and people have been out talking to them they say you know we've been through storms with this one was different popped up very quickly developed within a week and much more powerful than a lot of people thought let me show you an example of some of that this is being built where the park in the middle of downtown mobile is huge oak trees these huge macnow you trees that survived hurricane ivan survived hurricane katrina didn't make it through sally some splintered and torn apart others pulled from the wet ground laid on their sides these are massive trees and this is an area a lot of people enjoy this means a lot to a lot of people here unfortunately it's a sce

jay gray is in the thick of it all and he joins us from mobile, alabama.ear it >> all right having some trouble there with jay. there we go. >> reporter: let me give you a real idea of the conditions here the wind has picked up significantly. we're seeing gusts over 60 miles per hour and that's going to build as we go through the morning and into the day here. this storm a major category 2 and still churning just off the shoreline moving at just a creeping pace of 2 miles per hour along with the rain we expect and some areas, that will be close to 3 feet of water we're also going to see a storm surge here, perhaps 9 feet so catastrophic flooding is going to be an issue with this storm we expect landfall somewhere in the next few hours but system going to linger and we'll see these conditions for seven, maybe eight more hours that's the situation right now back to you. >> yeah, that is really the tough spot there when you have this storm that seems to be hovering over there. the slow moving storm. i don't know if you can hear me, jay, but that is the tough

those might be good questions to ask of gavin newsom, jay inslee, the governor of oregon -- does anyone even care? the answer of course is no,

this is bloomberg. ♪ haidi: jay powell told u.s.awmakers tuesday that the path to recovery remains highly uncertain and inflation will be key. in the meantime, charles evans says the central bank's new inflation framework could mean a rate hike could come before the 2% average is reached across a long period. our next guest is planning a number of different inflation scenarios. the senior market strategist joins us now on the line from london. always great to have you with us. we appreciate your time. it is the potential uptick in inflation really one of the big risk factors going into next year? what investment strategies are you putting into place that could deal with the various scenarios? >> good morning, and thank you very much having me as well. it's always a pleasure to be on. that welike to say still think it is on's against surge.he inflation will we think because of the covid-19, we think the balance of demand and supply are pointing to low inflation even though we are much more optimistic than consensus out there, how qui

jay caruso, thank you. stay close. i'm going to talk to you again in just a little bit. >>> still ahead, the white house is launching an zbegs into the postmaster after pressuring employees to make campaign contributions. >>> also banning diversity training. those stories and a check of your weather when we come back. your weather when we come back it's my 9:12 no-days-off migraine medicine. it's ubrelvy. for anytime, anywhere migraine strikes without worrying if it's too late, or where i am. one dose can quickly stop migraine in its tracks within two hours. unlike older medicines, ubrelvy is a pill that directly blocks cgrp protein, believed to be a cause of migraine. do not take with strong cyp3a4 inhibitors. most common side effects were nausea and tiredness. ask about ubrelvy. the anytime, anywhere migraine medicine. i had enough! it's not getting in my way. joint pain, swelling, tenderness much better. my psoriasis, clearer... cosentyx works on all of this. four years and counting. so watch out. i got

rocket company's ceo jay farner joins us now jay, i have to say in my experience seeing a newly public3.5 billion in net income is rare to say the least. nonetheless, at least at this point, investors don't seem particularly taken with it any idea on your part as to why the stock is looking down 10%? >> thanks for having me this morning. our focus has really been where the stock price has gone since the ipo here just a few short weeks ago. we are up pretty substantially and q2 was a great quarter and q3 we think will be even better. you can probably help me understand the day to day trading of the stock better than i can help you, but the long term is where we will continue to stay focused on. >> i know you are, and to your point the stock did perform extremely well right after the ipo and sort of those days and weeks following and it may simply be the weakness is based on how much strength there's been to date again, because you point out your volumes were enormous, they're going to stay there. i mean, how long can we expect, jay, to have a mortgage market like the one we're in right

yesterday, we did hear from jay powell. he testified to the house financial services committee alongside steve mnuchin. >> here are the highlights. morethink it is likely fiscal support will be needed. >> i think the next package should be must more -- much more targeted, areas of the economy that are much harder hit. >> the recovery will go faster if we have both tools continuing to work together. >> we are inclined to allow for additional flexibility on the money that has already gone out to state and local governments. >> we need to reopen the economy and we need to do it in a sustainable way. mentioned before, chicago fed president charlie evans, he says that the fed guidance on interest rates allows a rate hike before inflation averages 2%. his comments point questions left unresolved by the guidance jerome powell issued in the last policy meeting. >> we sort of said we are looking to get inflation up to 2%, then after that, we could be raising rates and still have an accommodative setting of monetary policy. if you re

jay powell is pleading for more stimulus. during the second day, testifying, he pushed back against suggestion at the fed's favoring markets of the people during the pandemic. vice chairman richard clarida agreed with powell. >> what we're saying quite simply is that perhaps in a normal recession or perhaps if we were back in february, then obviously getting to 2% and moderately exceeding 2% would be within our forecast to rise. but because of the depth of the shock, the economy has to recover. and as i said in our baseline that recovery relative to the last downturn will occur in about three, three-plus years. but overshooting is just an academic point. and we actually want to get the economy 2% inflation. and along with fiscal support that that can happen. >> meanwhile, fund manager has come on this show and said we are at risk of creating an asset price bubble if not creating it already. how does that factor into your calculus about when to tighten in policy? >> that's a good question. financial stability is always an impo