that's the view of federal reserve. chief chairman jerome powell, he testified about the central bank pandemic response before a us congressional hearing on tuesday. while powell said, the recent inflation rise was notable. he said it was due to several unique effects of the pandemic. the fed expects inflation to drop back to normal levels once those effects ease. on the wider economic recovery, he warned that it was on, even in the u. s. with african american hispanic, and low paid workers worst hit by the economic crisis. our financial correspondent, young core to join us now for more young power seems pretty confident that these price increases will wayne, that there are temporary and only due to pandemic related factors that confidence widely shared. well, i mean jerome paul might be right, but i would say the jury is still out how temporary those price increases are just on tuesday. for example, we got latest numbers from the housing market and housing prices in the us actually have reached a new record. if you go to a gas station, i mean, gas prices are up about $1.00 in compari

_ you don't save your own country and jerome population _ you don't save your own country and jeromeyou don't- you don't save your own country and jerome population if you don't make sure that _ jerome population if you don't make sure that the — jerome population if you don't make sure that the best _ jerome population if you don't make sure that the best of— jerome population if you don't make sure that the best of the _ jerome population if you don't make sure that the best of the world - jerome population if you don't make sure that the best of the world will i sure that the best of the world will participate — sure that the best of the world will participate in— sure that the best of the world will participate in the _ sure that the best of the world will participate in the general- sure that the best of the world will participate in the general saving i participate in the general saving effort _ participate in the general saving effort and — participate in the general saving effort and so _ participate in the general saving effort and so we _ participate in the general saving e

jerome powell is the new chair of the federal reserve.irements. they will have to ask every company, wall street firms included, essentially how much of a carbon footprint do you have, or can you cut it back? how much board diversity do you have? how much to improve it. and those disclosures are going to cost a ton of money for corporations and people are just trying to get their hands around just how far gensler and company, because it will mainly be through the sec, through disclosure requirements as we first reported on fox business. he will push for the disclosure requirements. it will cost them a lot of money. it will also make some people a lot of money. law firms and consulting firms. the ernst & youngs of the world, maybe makenzies of the world. they will make a ton of money making sure companies properly disclose with the new rules when they do come out. there will be a battle over the new rules. lobbyists will make a lot of money in the next couple months. they will hash this out and lobbyists, business lobbyists will go to the

president biden will sit down with jerome powell for the first time as president as he meets with financial regulators to get their read on the state of the economy. let's bring in capitalist pig hedge fund owner jonathan hoenig and price futures group phil flynn. jonathan, start with you. janet yellen is the former fold chair and is the treasury secretary. she has to give insight what the

can it close there in the next 59 minutes as fed chair jerome powell speaks before that house committee at this hour. powell not really saying too much with headlines, but he's basically saying the fed will not raise rates while unemployment is, quote, so high as senators quiz him on how long and how high inflation might go. we'll take you to capitol hill for the big news headlines when they come. and there's money in them thar hills. in a fox business exclusive, wall street's ipo is put in perspective. you may not realize this, there's 17 if i -- ipos this week. he's going to tell you exactly what kind of companies he's looking for. plus, keep on trucking if you can find the drivers. the post-pandemic supply chain getting greased by amazon prime day. we've got the ceo of old dominion freight line here in a fox business exclusive to tell us what's driving america's coronavirus recovery, and wait until you see his stock performance compared to the big competitors, ups and fedex. it may surprise you. >>> let us begin with breaking news, you're looking at the hearing with fed chair jerome

jerome paul did mentioned that if you look at the labor market, we are not quite there where we were before the pandemic. we're still shy about 7000000 jobs. what general power did hint at is that coming fall? the situation could improve tremendous the partly because that was all the vaccination, so kids might go back to school full time coming september, meaning that also working parents could fully return to their workplace them. so those are some expectations that we actually might see a red hot labor market coming to fall. and if that's going to happen, then we might see a change in monetary policy sooner than the markets expect. that the moment good times away in the fall, that's according to row to jerome powell and young quarter are financial correspondent in new york. thank you very much. now let's take a look at some other business stories making headlines. a new lawsuit has been filed in california again pharmaceutical giant buyer claiming a former developed cancer after using the company's round up her. beside last month the us judge rejected a $2000000000.00 plan by buyer

in his opening remarks, federal reserve chair jerome powell told congress the u.increase in vaccinations and government support, but says it still has a ways to go. we're the pace of vaccinations has slowed and new strains of the virus remain a risk. powell's warning comes as the biden administration says. it won't reach its aspirational goal of getting 70% of adult americans partially vaccinated by july. 4th. there are other risks to price hikes and finding workers are a concern. every single employer i talked to tells me they can't find people to work. do you think about all this policy ideas from the democrats again? it's not my job. no, but your job is stable employment and low inflation. right now. we have nine million job openings and inflation that's went up five months in a row, so something has to give. lawmakers meanwhile, are debating whether more help is needed for americans and how large to make the american jobs plan while the president has proposed a $4 trillion economic% agenda, a bipartisan group of 21 lawmakers remain in talks over an infrastruct

at the same time, jerome powell holds a news conference to discuss monetary policy and the state of the u.s. economy. at 3:00 p.m. veterans affairs secretary testifies on the president's 2022 budget request for the d.a. again, that's all live on c-span.org. announcer: c-span is your unfiltered view of government, funded by these television companies and more including charter communications. >> broadband is a force for empowerment. that's why charter has invested billions, building infrastructure, upgrading technology, empowering opportunity in communities big and small. charter is connecting us. >> charter communications supports c-span as a public service along with these other television providers giving you a front row seat to democracy. >. host: matt lewis joins us. you can find him at matt lewis.org or on twitter. we are talking about party politics. you wrote in a recent piece that the honeymoon is over for the administration. reality has set in. why? guest:

at the same time, federal reserve chair jerome powell holds a news conference to discuss monetary policy and the state of the u.s. economy and at 3 p.m., veterans affairs secretary dennis mcdonough testifies on the president's 2022 budget request for the v.a.. that's all live at c-span.org. >> attorney general merrick garland late down the justice part departments plan to address domestic terrorism threats. he spoke about an increased threat of domestic violence in 2021, mainly racially or ethnically motivated. ag garland: oh, this is the whole, the whole place is filled. this is good. the great hall is beginning to look like a great hall again. this is really good. well, good morning. i am very happy to be in the great hall today with representatives of the fbi, the atf, the u.s. marshals service, the executive office for u.s. attorneys; and with representatives of the national security division, civil rights division, the criminal division, and the office of justice programs. i am pleased to announce that the administration is today releasing the first national strategy for countering

jerome powell tipped his hand last week and markets no the happy with that. your ideas how the conversation will go. >> these are professional regulators. it is terrible in finances. you have to go back to dodd-frank from sarbanes-oxley, so-called landmark regulation efforts have done nothing. in fact they only papered over the problem again and again. they made markets more volatile. i am worried about the meeting between biden and regulators. robinhood and crypto phenomenon, there will be a crack down from both sides of the aisle. i don't think that will be good for the markets despite today's rally in the dow. jackie: phil, jonathan is talking about the regulators aspect looking at stock market, how normal people are trading and mechanisms there to protect them. the second aspect is the market overall. broadly looking at administration policies and inflation. i'm wondering how the two topics might come up in these conversations? >> you know i think it is going to be a situation where they're going to be worried about the wrong things. when it comes to regu

jerome powell, the guy that runs the federal reserve did address spending today. he's worried about it but so far he says so good. we'll see after this. [sfx: revving trucks] pilot over radio: here we go, let's do this. ♪♪ pilot over radio: right there, right there. [sfx: revving trucks] pilot over radio: g complete. how do you introduce the larger-than-life gmc yukon? with the world's biggest tweet. the next generation gmc yukon. premium that's made to be used. ♪welcome back to that same old place♪ ♪that you laughed about♪ ♪well, the names have all changed♪ ♪since you hung around♪ welcome back, america. it sure is good to see you. my plaque psoriasis... ...the itching ...the burning. the stinging. my skin was no longer mine. my psoriatic arthritis, made my joints stiff, swollen... painful. emerge tremfyant™. with tremfya®, adults with moderate to severe plaque psoriasis... ...can uncover clearer skin and improve symptoms at 16 weeks. tremfya® is the only medication of its kind also approved for adults with active psoriatic arthritis. serious allergic reactions ma

time now for a quick break, but when we come back, better reserve chair jerome hall, headspace congress as the central bank has. and now it's forecast for interest rates and inflation just after the break. we bring you the latest on the saga and it's going to break. here are the numbers at the close. the ah, we're witnessing a very disturbing media trend, serving an ideology and scoring political points trumps informing citizens. we have the russia gate hoax, the impeachment hoax, and the suppression of any debate on the origin of coven now front and center is the capitol hill, ryan. what goes the f b? i know join me every 1st aid on the alex simon show. and i'll be speaking to guess in the world, the politic sport business. i'm show business. i'll see you then me. always be polite, never engage with an aggravated or confrontational office. don't get into any conversation to start answering questions. just ask for an attorney to survive and interrogation, you've gotta be ready to stand your ground. definitely don't want to be going to trial in the jump suit. one cups. you're more likely

but when we come back from the reserve chair jerome, how has faith congress is? the central bank has the now it's forecast for interest rates and inflation just after the break. we bring you the latest on the saga and it's going to take care of the numbers at the close. the ah, ah, ah ah ah ah ah ah, ah, the oh, when i would show the wrong one, i'll just don't. the rules. yes, to fill out, the thing becomes the after kid and engagement equals the trail. when so many find themselves world apart, we choose to look for common ground. always be polite, never engage with an aggravated or confrontational office. don't get into any conversation to start answering questions. just ask for an attorney to survive and interrogation. you've gotta be ready. you're definitely don't want to be going to trial in a jump. so one cups, you're more likely to walk free if you're rich and guilty. when you are, if you're poor and you got 2 eyes and 2 ears and one mouth. so you should be seen in here and a whole lot more than you're saying. if you don't take that advice, usually going to

but when we come back from the reserve chair jerome hall, headspace congress as the central bank has it now, it's forecast for interest rates and inflation just after the break. we bring you the latest on the saga and it's going to take care of the numbers at the close. the ah, ah, the news we're witnessing a very disturbing media trend serving an ideology and scoring political points trumps informing citizens. we have the russia gate hoax. the impeachment hoax, and the suppression of any debate on the origin of coven now fronting center is the capital hill. ryan. what goes the f b? i know when i was the wrong one, all 3. i just don't the room. yes. to shape out the same because the after an engagement equals the trail. when so many find themselves will depart, we choose to look for common ground in always be polite, never engage with an aggravated or confrontational office. don't get into any conversation to start answering questions. just ask for an attorney to survive in interrogation. you've gotta be ready. you're definitely don't want to be going to trial in a jump. so one cups.

charles: well jerome powell in the hot seat right now, just in minutes going to start taking questionsabout how they responded to the coronavirus crisis but let's face it, everyone wants to know about what the fed i thinking, the elephant in the room is inflation, right? every one wants to know two things, will he provide some clarity on the timing of tapering and was james bullard speaking for him or just for himself? i want to bring in kpmg, their chief economist, constance hunter. you know, constance, i think the fed deserves a lot of credit for their response during the coronavirus pandemic but one thing that bugs me, they created four facilities, max funding capabilities that total $1.9 trillion. they used 41 billion, 2.2% of it, is that too much power to print too much money out of thin air? >> you have to ask the mnuchin treasury, because that is who approved it, right? those extraordinary lending facilities have to be approved by the treasury are only for exigent circumstances and really provided a backs stop. the reason only 2.2% was used because it was a backstop emergency an

ah, the welcome back. rudder reserved chair jerome power test by tuesday during a hearing to focus on the central bank pandemic response. now in front of the house, select subcommittee on the cro virus crisis pa spoke about the fed outlook for inflation. a pretty substantial part, or perhaps all of the overshoot and inflation comes from categories that are directly affected by the reopening of the economy. those are, those are things that we would look to, to stop going up and ultimately to, to start to decline as these situations resolve themselves. they don't speak to a broadly tight economy into the kind of thing that has led to high inflation over time. i will say that these effects have been larger than we expected and, and they may turn out to be more persistent than, than we've expected. for more on this, let's bring in, boom, boom, co host, christie, i and a shell snider. she's a man, director of the market gauge group and author of the best selling book, plant your money tree, a guide to growing your well, thank you both for being here. christy. i want to start with you, you

think though the message itself is it's consistent between the dot plot, and the comments and what jerome powell wants to achieve is that adding to some uncertainty here? >> well i think if you just look at what's happening in the market, the yields are going down, and the jump bonds which is really what i call the fed is holding up, so they are talking from both sides of their mouth. i think when push comes to shove they are much more concerned about the slow down of any kind of growth going forward than they are about inflation, and even though they mention the word inflation and it's surely knocked down a lot of commodities that's why we're sed tech because that's really where i think the market wants to hang on to at this point because they are assuming these yields are going to stay low. charles: right. i want to get back to you on that. i know you are eager to talk about that and you've been spot on with some of your recent appearances but let's talk about this grip that everybody hears about. people watch financial media and they hear okay this is going to happen so this should hap

for months, jerome _ sidelines for some time.be a jump in inflation but do not worry it will be temporary, as america's economic recovery progresses, these inflationary pressures will pass. but at what cost? the bike shop has a ready raised what it charges customers by 10%, another increase will likely come at the end of the month. i increase will likely come at the end of the month.- increase will likely come at the end of the month. i do not the 're the end of the month. i do not they're getting _ the end of the month. i do not they're getting better- the end of the month. i do not they're getting better this - they're getting better this year, certainly for this industry, it will get worse. samira hussain, bbc news. janet mui is investment director at brewin dolphin. nice to see you again. where are you in the great debate about inflation and whether it is temporary or long—term —— such a long—term headache? fiur such a long-term headache? our view is that _ such a long—term headache? <1)!" view is that inflation will be tempor

anna: fed chair jerome powell and new york fed president john williams.hey both see the fed nowhere near raising rates. the reassuring comments have bolstered investor sentiment. u.s. futures this morning, a lot of the conversation was around tapering before we get to the conversation about rates. very nice to have you with us. it seems to take a week for the markets to understand what the fed was communicating. is the reason that we have this new reaction function and we are not sure what that means even though jerome powell went out of his way to ask plain what that meant? >> indeed. the reaction was certainly unconventional. look at the behavior of yield curves, credit markets, intimate -- and to me it illustrates the fact bond markets -- the oldest lessons and the book -- lesson in the book, watch bond markets. bond markets have been flattening the past two months. despite what sounded to be rather hawkish statements, there was there a verse in flattening behavior. bond markets continue to flatten afterwards. the point is bond markets are questioning

that the labor market is by far not where it used to be before the pandemic started, but fed chair jerome paul actually did say that there could be further massive improvements in the labor market in the month to come. so that is a clear message from the federal reserve, at least for now, the monetary policy is not going to change. they still see inflation pressure to be temporary and the labor market, not quite there by the fed, would like to be in wall street, not a fan of this decision. what can you tell us? well yes we did see a little bit of a cell phone on wall street and we shouldn't forget that the stock market has been on a sugar high with all the cheap money that we've seen for so many a year. and then at the end of the day, investors do not fully build the federal reserve that they're not going to change the monetary policy in the near future. and they actually saw this wednesday meeting as another baby step towards the changes in the monetary policy. we won't see interest rate increases and that soon about, for example, they could to very well at some point, at least limit the

. >>> jerome powell testifies today on the federal reserve's response to the coronavirus pandemic before the house oversight coronavirus crisis subcommittee. watch the fed chair live starting at 2:00 p.m. eastern on c-span 3, online at c-span.org, or listen with the free c-span radio app. >>> former minneapolis police officer derek chauvin was convicted in the murder of george floyd and scheduled to be sentenced this friday. his defense has asked for probation. prosecutors are seeking 30 years in prison. watch the court proceeding live friday at 2:30 p.m. eastern on c-span, online at c-span.org or you can listen on the free c-span radio app. >>> in terms of the reforms as well if you are in one of those states that has -- has passed or is considering voting reform legislation in your state we'd like to hear what that -- what those reforms could be like. again, the question for you is what voting reforms you would support, but in particular let's focus on the two on the procedure today in the u.s. senate, our capitol hill producer craig kaplan tweeting this morning about what we will see

but to fetch here jerome paul actually did say that there could be further massive improvements in the labor markets in the months to come. so that it's a clear message from the federal reserve, at least for now, the monetary policy is not going to change. they still see inflation pressure to be temporary and the labor market, not quite there by the fed, would like to be let's get the european view on this with chelsea delaney in germany's financial capital. chelsea how trade is here reacting to the prospects of earlier right rises one investor called us a wakeup call for markets, but i'd say it's a very gentle wake up call from the federal reserve. basically what the fed is saying is that they will potentially in 2023 raise interest rates, but they are going to basically keep monetary policy very accommodating for the time being. so we've seen a slight reaction and markets the doctor in for a grant is likely to fall a little bit at the open today. the s and p fell about 0.5 percent yesterday, but these are very modest declines. so investors clearly are not too worried yet about the fe

jerome powell acknowledged a lot of uncertainty. there is a risk inflation will be higher than the central bank thanks. congress has given final approval to a new federal holiday. juneteenth will be the 12 federal holiday. it marks the day in 1865 when union soldiers brought word of freedom to enslaved people in texas. president biden sign the bill today. it's a milestone for china's space program. the spaceship carrying three auster not stocked with the country's new space station. the crew will be on the space station for three month and carry out experiments, test equipment and conduct maintenance. a warning from switzerland's central bank. potential for substantial losses in case of a u.s. or euro area recession. the country's biggest banks are proving resilient and credit losses remain low with international peers. banks in asia have a huge problem. they are struggling to hold onto junior investment bankers. anywhere between 13% to 50% of banking analysts and associates left their roles this year. that is roughly double the ave

>> jerome powell testifies tuesday on the federal reserve's response to the coronavirus pandemic before the house oversight coronavirus subcommittee. watch the fed chair live starting at 2:00 p.m. eastern on c-span3, online at c-span.org, or listen to the free c-span radio app. >> officials from cameroon, nepal and nigeria discuss lessons learned from the rollout of covid-19 vaccines. some of the topics they cover include vaccine shipment and distribution. getting doses to remote communities, and vaccine hesitancy. the center for strategic and international studies hosted this conversation, which was held by videoconference. >> good morning, everyone. it's morning in washington, d.c., but it may be midnight where you are. we are delighted to have all of you here for what is going to be a very important conversation. this is a discussion about the reality of rolling out the covid-19 vaccines around the world. we are very privileged today. my role is not only to welcome all of our panelists, but my real special player is the welcome expect you to -- executive director, with who is the dir

of waiting to see over the next several months but president biden will do, if he will renominate jerome be the head of the fed. of course, the white house is also facing some other existential economic russians, like, is their bet on inflation correct? what happens with these extended enough in its that -- extended benefits that republican governors are choosing to turn off? there are economic unknowns tied to this meeting. matt: thank you so much for joining us. nancy cook talking to us about this important meeting, the treasury secretary, the treasury secretary, the federal reserve chair, and president of the united states. we will bring you headlines as they cross. this is bloomberg. ♪ . . . ♪ ♪ look, if your wireless carrier was a guy you'd leave him tomorrow. not very flexible. not great at saving. you deserve better... xfinity mobile. now they have unlimited for just $30 a month... $30. and they're number one in customer satisfaction. his number... delete it. i'm deleting it. so, break free from the big three. xfinity internet customers, switch to xfinity mobile and get unlimited

can we call him jerome powerful? he is driving the stock market train. as long as the fed signals it is not tightening and not worried about inflation and as long as congress continues to spend and they have plans with the infrastructure bill to spend, and corporations are responding with this reopening trade and capitalizing on it with strong earnings, why would this market continue to do anything other than what we have seen i realize emotion is powerful and people see lofty levels. they see higher prices look what happened last week as soon as we had a mini correction, money flowed back in and i think that's going to be the story for the summer >> if you like that, mark, stay tuned late near the show for the rbi. it has to do with the amount of cash still out there i don't want to give too much away it is called a deep tease in the busin business how much money do you think there is sitting out there waiting to be put to use somewhere? >> those exact numbers are hard to find. there are trillions, personal balance sheets and corporate money market fund

what do you thing about -- long-term people like you, and frankly jerome powell. what do you think about the rest of it? ben: it will compress short-term interest rates over time. as much as you want to communicate that you're going to raise rates, you can't really expect the yield to jump all the way out to this projected rate the fed has put out. i think it is more like a very slow normalization, and markets notice because we experienced this in 2014 when we went very slowly with the two-year yield over time. i think that is what you can expect. on the low end of the yield curve, it is the dynamic of the technical positioning and the fact that maybe these rate hikes are sufficient to keep inflation in the future under control. lisa: if it is technical, are we almost through with the technicality? are we moving into a period where perhaps long and rates can possibly rise on the prospect of less fed accommodation? ben: i think the way it is communicated this time compared to 2013 is that we were missing guidance on rates in 2013. if we had this idea that it is goi

fed chair jerome powell acknowledged there's a lot of uncertainty.here is a risk that inflation will be higher than the central bank thinks. congress has given final approval to a new federal holiday celebrating the end of slavery. juneteenth will be the 12th federal holiday. it marks a day in 1865 when union soldiers brought word of freedom to people in texas. president biden will sign the bill into law today. it is a milestone for china's space program. a chinese spaceship carrying three astronauts docked at china's new space station today. the crew will live aboard the space station for three months. they will carry out experiments and conduct maintenance. police and hong kong have arrested be three top editors at the pro-democracy apple daily newspaper. two of the paper's executives were also arrested, accused of breaching the national security law. the owner of the paper, jimmy lai, is already imprisoned for authorizing protest. -- says its vaccine -- curevac says its vaccine was only 43% effective. it's thursday feature into affection. global n

i don't think it will change their posture is whatsoever. >> do you agree it's jerome's most important meeting ever? >> i think ptj probably has a call into the folks who make the decisions in washington. i'm not sure why they're raising expectations there i will say about the s&p 500, it's been making seemingly new highs every day, little by little over the last couple weeks here, so to guy's point, if there was anything particularly hawkish people aren't expecting you will see the stock market sell off in the next few weeks maybe that's what big money wants. they're looking at s&p 500 up 13% on the year saying the data will get choppy in the back half of the year, contending with decelerating metrics the things that got us excited when they were accelerating at such a fast pace well on the back half look for the opportunities. s&p few months ago broke out at 4,000, seems like a good round number. if you had it one comment after the fed meeting it makes sense as far as picking and playing for that global reflation back half of theor. >> karen, dane just brought up . >> karen, dan just

jerome adams, you just booked yourself back on our show for when your book comess this morning.e look forward to speaking with you in the future. >> thank you, john. >>> a florida high school halts distribution of its yearbook after complaints about pages of the black lives matter movement. the controversy and how it was resolved next. >>> plus, a dramatic sky show that would make johnny cash proud. it's a ring of fire solar eclipse. it's beautiful. neil degrasse tyson is here to talk about this rare celestial event. ♪ ♪ we made usaa insurance for veterans like martin. when a hailstorm hit, he needed his insurance to get it done right, right away. usaa. what you're made of, we're made for. usaa well, well, well. look at you. you mastered the master bath. you created your own style. and you - yes, you! turned a sourdough starter into a sourdough finisher. so when you learn your chronic dry eye is actually caused by reduced tear production due to inflammation you take it on, by talking to your eyecare professional about restasis®... which may help you make more of your own tears w

this is what fed chair jerome powell had to say about that. >> you can think of this meeting that we as the talking about talking about meeting, if you like. i now suggest that we retire that term which has served its purpose well, i think. so committee participants were of the view that since we adopted that guidance in december the economy has clearly made progress, although we are still a ways from our goal of substantial further progress. participants expect continued progress ahead toward that objects testify and assuming that is the case it will be appropriate to consider announcing a plan for reducing our asset purchases at a future meeting. >> jerome powell did acknowledge that this is an extraordinarily unusual time he called it and that there is no template for how the federal reserve should be dealing with this. he did say, though, that he still believes the most likely scenario is that that surge in inflation that we have seen recently does start to ease over the next few mondays as the demand surge in supply chain bottlenecks start to come down. he also believes that the

that is the elephant in the room for jerome powell. lisa: the idea everyone is expecting a jerome powell to keep the pedal to the metal with the respect to 120 billion dollars bond purchases every month, keep the easy money policies for longer, suppressing bond yields below where inflation is. you mentioned mohamed el-erian, and he wrote a column in the financial times about how dramatic the risk-taking is an potential expected height on the line could do to that. tom: thank you so much for them and our team forgetting dr. hooper on. for those of you not on global wall street, this paper has created a sensation among people worried about the linkage of economics, finance, and investment. the ecb later, guy johnson in cornball -- cornwall. please stay with us. this is bloomberg. ♪ s is bloomberg. ♪ (announcer) do you want to reduce stress? shed pounds? do you want to flatten your stomach? do all that and more in just 10 minutes a day with aerotrainer, the total body fitness solution that uses its revolutionary ergonomic design to help y

amy: even jerome powell last week says --take this with a break --big grain of salt.e know the man in charge of the fed hates it. the markets -- market hangs on their every word so that you are going to see volatility. if you look at the 10 year yield for treasuries to where we are this week, it is unchanged. there is a lot of interweave volatility because they won't stop talking. caroline: the s&p 500 has done the same thing as yields have come in back to where they started. what about volatilty incrypto? we bounce off a technical level of 28,000 but we are not getting much of it. do we drip higher? amy: we are drifting higher. it is-- was very dramatic yesterday where we landed flat after plunging. the coin is at an interesting place because if you zoom out to the year of date -- to date, it falls. amy: we had the death cross but bitcoin has entered a death cross seven times since 2010. do really well of the next 50 days and return an average of 34%. who knows -- with an asset like crypto whether that will hold true. you could make the case if you look at the tentac

jerome powell is testifying right now. >>> complaints against digital payment services are skyrocketing. the public interest research group looked at more than 9,000 complaints to federal regulators about digital wallets and payment apps including pay pal, cash app and zell. they found more than 2700 were filed between january and april of this year. that's up over 800% from the same period last year. many lost money to scams or fraud. >> there are no rules that protect you very well at all when your money goes out of your account. >> all of the app companies said they work to stop bad actors and have processes in place to help flag scams. they warn people to be careful, to only send money to friends and people they know and not to strangers. >>> delta airlines plans to hire a thousand pilots by next summer. this as domestic travel is rebounding to prepandemic levels. last year they cut more than 1800 pilots through early retirement. it also put about 1700 jr. pilots on inactive status. earlier this year it said it planned to have all of them back at work by the fall. >>> time now for a

tonight federal reserve chair, jerome powell, on the fed's response to the covid-19 pandemic. he answers questions from the house select subcommittee on the coronavirus crisis on inflation, jobs, and worker shortages. next coming up tonight at 9:00 eastern on c-span. >> washington. host: we set aside time on the program to focus on a different aspect of the covid-19 pandemic. we are looking at vaccination waste -- rates. serving as a professor and director, good morning. thank you for joining us. guest: it is a pleasure to be with you today. host: what do you think is the main cause of vaccine hesitancy? guest: there are a lot of reasons. there is not just a group of people that are staying no. one is that people are not sure. they are a little bit hesitant. another group, they are thinking this is a little too early. they want to see some more people go first. more people are distrustful and do not know who to believe. they are getting a lot of conflicting information and are confused. then there is a group that are generally unhappy with the whole rollout and the whole thing

it means policy prescriptions and that dovetails with jerome powell.mentioned with jeffrey rosenberg, maybe this morning we change our x axis. romaine: i think a lot will change. if you get some of these proposals marty walsh and president biden are pushing, if it gets through congress it does change the dynamic. tom: 61 days ago i never thought i would see the two jobs reports we have just seen. that will be the core of our discussion with marty walsh and the 9:00 hour. stay with us. taylor: from new york city for our viewers worldwide, i am taylor riggs in for jonathan ferro. "the content of the open -- the countdown to the open" starts now. >> everything you need to get set for the start of u.s. trading. this is "bloomberg: the open" with jonathan ferro. ♪ taylor: we begin with the big issue. u.s. payrolls picking up in may but falling short of expectations. joining us to get through the data and the market reaction is michael mckee and abigail doolittle. your reaction? michael: a good news, bad news situation. the bad news is the numbers do not mee

. >>> president biden is meeting with the treasury secretary janet yellen and fed chair jerome powellmeeting is happening when the country is watching what is happening post pandemic. what americans is encountering is almost unrecognizable 16 months ago. housing is scarce, and everything is pricing up, and there is a great dislocation between millions of unemployed workers and millions of vacant jobs. all right. joining us now is our friend robin farzad, from npr forecast, and this is the meeting that is going to mark biden's first face-to-face with the federal regulators of the banking industry and the markets and the fed chairman, and explain what this means like i am a fifth grader, because that is the understanding i have of all of this works. >> the federal reserve of the united states is the biggest banker of the united states. it has a big spigot, and by opening it it makes lending cheap, and out there further buying all sorts of securities to smoke people into taking the risks, and yet look at the savings account yield, and what the mortgage costs these days, and it is at pret

right now federal reserve chairman jerome powell, he is on capitol hill answering questions about the state of the economic recovery and his fears of inflation. >>> also, we'll tell you why many workers are saying that there has never been a better time to look for a job. >>> and a major moment in nfl history. a defensive line man with the las vegas raiders becomes the first active nfl player to announce that he's gay. how he could help save lives. one, two! one, two, three! only pay for what you need! with customized car insurance from liberty mutual! nothing rhymes with liberty mutual. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ paul loves food. but his diabetes made food a mystery. everything felt like a “no.” but then paul went from no to know. with freestyle libre 14 day, now he knows how food affects his glucose. and he knows when to make different choices. take the mystery out of your glucose levels - and lower your a1c. now you know. try it for free. visit freestylelibre.us ♪ >>> happening now on capitol hill, chair of the federal reserve jerome powell

because jerome powell dismissed the u-3 unemployment number. i'm glad he does. hope the media stops using it. employment to population ratio. even unemployment number closer to the u6. how should we be measuring employment in this country? >> powell is really i think, it is good that he looks at a lot of different metrics. you mentioned employment to population ratio and participation rate but jay powell was clear we needed to see broad-based and ininclusive. that might be admirable on the surface, there may be a metric where you always want to being. like a puzzle you may not get all the pieces until you get what the picture is. that may be the reason why the fed is delays raising rates. if you look employment population, labor force participation. neil: demographics of different races and sexes, it may be a while geoff they get to the pre-pandemic levels. it could take us well past 2023. it is not clear what the fed chair exactly wants to see but on the labor side if you look at the employment cost index, charles, it is still growing less than it did pre-pande

mexico has taken them to a migration to soon as he wanted decides what'll happen to the chinas rover jerome has sent back an image of itself from the martian surface. the solar powered vehicle will spend the next 3 months taking photos and analyzing rocks. and those are the headlines. now, no severe, let's get you back to fast fashion. the reason that the preventable disease account 50 percent, that the children of selection lives challenge cases in the new way. let me i i me me ah 1st fashion has engendered arise and informality. arising per carry t workers essentially work on a system of informal 0 our contract. so they never have a contract. lester, a working class city of 300000 inhabitants in the center of the country. workshops are a hidden world where cameras are not welcome. there is no shortage of job offers in the sweatshops, embroider a cutter or dressmaker. ah, tanya is a journalist equipped with a hidden camera, she will go under cover into the workshops of lester. i'm looking for a job, not somebody seriously, just somebody. i learned very quickly from her job breaking windows

jerome powell has told lawmakers he still expects high inflation levels to subside to "a sustainableel." consumer prices jumped 5% in may compared to a year early. the largest increase in over a decade. but powell says as the pandemic wanes, inflation would go to 2%. the recent price rises have led speculation the central bank would begin to tighten monetary policy. it said last week it expects to raise interest rates in 2023, a year earlier than previously projected. let's take a look at the day's trading action. wall street had been watching for the testimony which pushed some stocks to record highs. the nasdaq hitting a new record of 0.8% at the close. the s&p 500 not far off. the dow jones slightly higher, following a single best session since march on monday. a slightly higher close for the major european indices. gains in london, paris and frank for there -- frankfror there. the value of bitocoin dropped amid a crackdown in chinese authorities. a year ago one bitcoin was worth $10,000. its value peaked at $63,000 in april and it is since lost half of that. all this under coring

biden is still speaking, we will interrupt and have jerome powell and the fed. we know that's what many of you are looking for. 2:00 market time for now, over to eamon the russian president was kind and gentle toward the sitting pred, as he has been toward the last four or five. but the rest of it seemed to be a duck and a dodge >> a couple interesting moments. one was when he was asked when he saw when he looked into biden's eyes which is the reverse of what americans have been asked about. putin had an interesting line. we don't need to look into each other's eyes or souls. we need to represent our countries and our country's views. vladimir putin views this entirely in a transactional way. he seemed to be almost mocking president biden. we'll have to look at the translation on that, when he said biden mentioned his mother and his family he seemed to be almost downplaying those as unrelated to the topics at hand, but he said those are attractive qualities because it shows how much biden cares so he's either praising or mocking biden. we'll leave that to the ru

same time jerome powell discusses the state of the u.s. economy. and at 3 p.m., veterans affair secretary mcdonough testifies on the 2022 budget request for the va all live at c-span.org. homeland security secretary and and alejandro mayorkas testifies on the budget request. 8:30 a.m. eastern on c-span 3. on-line at c-span.org or listen 0 the c-span radio app. next, akunna cook, deputy assistant secretary of state for african affairs, joins an event on free trade in africa, china's influence and u.s. this hour long event. >> good morning, welcome, i'm atlantic board director, and it's my pleasure today to open this event. it serves as the latest installment of the africa center's africa conversation series and this is a series of conversations with u.s. officials moderated by our new and dynamic african senator leader. i was delighted to see this series launched today, with my good friend and colleague, former colleague, and with dana banks, who is the national security counsel, senior director for africa, one of my old jobs. i'm equally delighted

china's rover jerome has sent back an image of itself from the martian surface. the solar power vehicle will spend the next 3 months taking photos and analyzing rocks . and those were headlines for these continuous here on our 0 after fast fashion. coming up next. ah hey miss day my great deal, but there is a high cost 2 bath fashion. does that cover? yes, yes, we did. if you did it, the month is almost up when the time has become, i would for kind of dodgy practices, fast fashion brands don't want you to look beyond the fabric. past fashion has engendered arising in formality arising, precarious right from the design of address. it's a speedy operation to its manufacture sweatshops, in the heart of england, much to the demands of production. do you see your current visit? they don't actually, they are just going to be there, but she's only been pulling at the thread. these shockingly price gum is quickly exposing the duck side of chief fashion me. the planet is being overwhelmed with close. close to $56000000.00 tons of close to sold every year. in europe, the m

living in the shade, jerome neighborhood, a number of palestinians have been arrested. iran's president elect has declared his country has many more foreign policy objectives than reviving the 2050 nuclear deal. abraham racy giving his 1st news conference since winning the elections on friday. reiterated his support for the agreement, but he said he was not prepared to meet the us president joe biden. un officials are recommending that australia's great barrier reef be placed on a list of world heritage sites that are in danger. but the government says it's stunned by the recommendation, and is planning to strongly oppose the draft decision you are right up to date with all the headlining top stories up next. here on alex's era, is 11 east. so here we'll keep company from 3 g. i'll season a, by on the coast china aged population, the country will become the 1st nation in history to gold pick for become switched on. the finance industry isn't living up to this own, bring credentials, legal traffic jams. so people turning to the waterways. kinds of the costs on i'll just figure the the, t

but to share jerome powell actually did say that there could be further massive improvements in the labor market in the month to come. so that is the clear message from the federal reserve, at least for now, the monetary policy is not going to change. they still see inflation pressure to be temporary and the labor market not quite there by the fed, would like it to be. wall street not a fan of this decision. what can tell us? well yes we did see a little bit of a set off on wall street and we shouldn't forget that the stock market has been on a sugar high with all the cheap money that we've seen for so many years. then at the end of the day, investors do not fully build the federal reserve that they're not going to change monetary policy in the near future. and they actually saw this wednesday meeting as another baby step towards the changes in the monetary policy. we won't see interest rate increases and that sue and about, for example, they could to very well at some point, at least and limit the amount of bonds and as effect security, that the fed is still buying 120000000000 dollars e

and fresh supplies for the international space station have blocked it off from the bike and cosmo jerome the russian cargo ship is carrying food, water, and other essentials it should be talking with the i s s in less than 48 under program returns at the top of the hour with my colleague union o'neill for the meantime. thanks for joining me. ah, look forward to talking to you all. that technology should work for people. a robot must obey the orders given by human beings, except when the shorter the conflict with the 1st law show your identification. we should be very careful about artificial intelligence. the point obviously is to great track, rather than fear i would take on various jobs with the artificial intelligence real summoning the theme and a robot must protect this phone existence with the financial survival guide. stacy, let's learn about fill out. let's say i'm a strike and you're very grief on face of the fight. walk 3 prod. thank you for helping me. ah, joy. that's right. fell out that way. ah, is your media a reflection of reality? the in a world transformed what will make

. >> fed chair jerome powell announced interest rates would be held near zero, but increases could comes early as 2023. this runs one hour. chairman powell: good afternoon. at the federal reserve, we are strongly committed to achieving the monetary policy goals that congress has given us -- maximum employment and price stability. today, the federal open market committee kept interest rates near zero and maintained our asset purchases.