to be fair. to jerome powell and his team tojerome powell and his team they were under pressure to cut a while. the? back for quite a while. they are sunposed _ back for quite a while. they are supposed to _ back for quite a while. they are supposed to be - back for quite a while. they are supposed to be free - back for quite a while. they are supposed to be free ofl are supposed to be free of political pressure, whether thatis political pressure, whether that is true or not, you know, i think there was a lot of cherry picking of the us data the softness, and it is really not there when you look at the larger picture. i think we should not pursue with rate cuts until we see what progress we make in the months ahead. doctor sean snakes, thank you. donald trump's tariff policies are likely to have a significant impact on asia. in his previous term the picture wasn't entirely bleak — with some countries benefitting from us—china tensions. but the stakes are higher this time as the president—elect has promised a 20% tax on all us imports. katie silver takes a look at how businesses in the

think that jerome powell could come. out in five minutes and say, we. >> hear you loud and. >> clear, mr. president. we're lowering. >> rates by 50 basis points. >> and ten. >> year yields are still going to. >> go higher. >> and that's not. >> necessarily a good thing. >> yeah. in terms of his fight against inflation though it would be great to go to the american people and say your mortgage rates are coming down. right. the thing your. >> mortgage rate or not are. not tied to the. >> the front. right, right. no, i know and so my point is that he's trying to jawbone a part of the curve that he has no control over that we've actually seen go higher despite what the fed has done. so jerome powell. >> is not. >> the audience. is that what you're saying. no. >> yes. i'm not joking. >> yes i think exactly what you're saying. >> right. it's the consumer he wants to be able to say like we i am. trying to i'm demanding that your mortgage rates are going to come down. your credit card rates are going to come down. your borrowing

i don't think they can enforce jerome powell to do anything he doesn't see as warranted. >> i don't wantsay all of this is. it's a tantrum to make sure that the fed doesn't cut on make sure that the fed -- huh? tell me again. >> it's an emotional reaction and it's also a tactical move by traders. i mean, there are two types of investors -- there are many types of investors, but the two types of investors, basically you have traders that tend to be leveraged and the leverage -- the cost of leverage has gone up significantly since march 2022 even with the three rate cuts that we had earlier this year, and then you have enter media to long-term investors. for one thing where the ten-year is now, consider the fact what it really needs and we're at levels on interest rates where bond issuers, whether it's the u.s. government, municipalities, corporate entities or others effectively are paying for the privilege of borrowing money again at a fairly normalized rate. >> john. to kelly's question, and open up the interview, hi, by the way. thanks for coming on. what happened? borrowing costs for t

and trump, of course, was the one with nominated fed chair jerome powell in the first place.ob. he's the one who let inflation go up to over 9% when biden was president, and it's just been kind of a herky-jerky monetary policy. so the big question is will donald trump replace jerome powell before his term is up in 14 months or so. i don't know the answer to that. he's been jawboning the chairman to get out. he'd like to replace him. i think -- i'm going to to make a prediction if though, i think he's going to let powell serve his term and then replace him early in 2026 which i think had be the best outcome. mike: all right. we will follow that. president trump's also putting the world on notice as it relates to tariffs. let's play that. >> right. >> my message to every business in the world is very simple, come make your product in america, and we will give you among the lowest taxes of any nation on earth. but if you don't make your product in america, which is your prerogative, then very simply you will have obey a tariff -- to pay a tariff. mike: i realize a lot of tariff

calls for borrowing costs to be swiftly lowered, claiming he knows more about interest rates than jerome powell. >> i'll demand that interest rates drop immediately, and likewise, they should be dropping all over the world. interest rates should follow us all over. the progress that you're seeing is happening because of our historic victory in a recent presidential election. >> the bank of japan lifts rates to their highest level since 2008, and signals further hikes are in play. good morning everyone and happy friday. we start today's show looking at the latest pmi figures for the eurozone. let me share those with you. the composite flash pmi figure for the eurozone came in at 50.2 for the month of june. that's actually higher than what analysts were expecting going into the release today. and let's break it down between services and manufacturing, starting with services. the reading has come in at 51.4. that was just marginally lower in terms of what economists had priced in. but indeed, it is still a positive reading above that 50 threshold. when you think about manufacturing. however, we kn

>> today, federal reserve chair jerome powell will hold a news conference to discuss interest rates and monetary policy following his meeting with the federal open market committee. you can catch that -- watch that live at 2:30 p.m. eastern on c-span or online at c a span.org. c-span.org. ♪ >> democracy, it isn't just an idea, it's a process. a process shaped by leaders, elected to the highest offices and entrusted to a select few with guarding its basic principles. it's where dedo baits unfold -- debates unfold, decisions are made and the nation's course is charted. democracy in realtime. s this is your government at work. this is c-span. giving you your democracy unfiltered. ♪ >> homeland security secretary kristi noem delivered welcome remarks to staff at the department's headquarters in washington d.c. the former south dakota governor was confirmed by the senate 59-434. are 59 will have 34. finish -- 59-34. [background sounds] [inaudible conversations] ♪ o, say can you all see by the dawn's early light -- ♪ what so proudly we hailed at the twilight's last gleaming? ♪ whose broad str

. >> today, federal reserve chair jerome powell will hold a news conference to discuss interest rates and monetary policy following his meeting with the federal open market committee. you can catch that -- watch that live at 2:30 p.m. eastern on c-span or online at c a span.org. c-span.org. ♪ >> democracy, it isn't just an idea, it's a process. a process shaped by leaders, elected to the highest offices and entrusted to a select few with guarding its basic principles. it's where dedo baits unfold -- debates unfold, decisions are made and the nation's course is charted. democracy in realtime. s this is your government at work. this is c-span. giving you your democracy unfiltered. ♪

. >>> and the warriors struggling to keep thei >>> well, federal chair jerome powell holding rates at its current level. he believes the current rate will help keep inflation down from 2.9% to the fed's target of just 2%. egg prices are continuing to rise this year. a dozen eggs on average cost about $4.15 today compared to $2.51 a year ago. and it is not because of inflation. egg prices are predicted to increase 20% this year alone has renewed bird flu outbreaks impact farms nationwide. so what do pablo picasso, elvis presley, walt disney, and charles darwin all have in common? well, they all owned pigeons. now, these feathered friends are mostly seen as a nuisance. pigeons might be a perfect pet. >> reporter: at first glance, it looks just like any other pet adoption event. friendly faces. welcoming signs. and excited visitors looking for a new companion. but then you hear it. the unmistakable sound of cooing . >> they are so adorable. >> that is deafly not what i was expecting. >> reporter: welcome to the pigeon party were the guests of honor are wearing tiny pants with leashes to

. >> on wednesday federal reserve chair jerome powell will hold a news conference to discuss interest rates and monetary policy all of his meeting with the federal open market committee. you can watch the live at 2:30 p.m. eastern on c-span, c-span now app free mobile app or online at c-span.org. >> democracy, it isn't just an idea. if that a process, a proced

[applause] >> federal reserve chair jerome powell will hold a news conference to discuss interest ratesand monetary policy, meeting with federal open market committee. you can watch live at 2:30 eastern on c-span, our free mobile apps or online, c-span.org. democracy. it isn't just an idea. it is a process shaped by leaders elected to the highest office and entrusted with a select few regarding basic principles, where decisions are made in the nation's courts is charted. democracy in real time. this is your government at work, this is c-span giving you your democracy unfiltered. house speaker mike johnson signed the laken rightly asked, after a student murdered by an illegal immigrant. immigrants accused of major to minor crimes, 46 democrats joined all republicans voting in favor 263-one hundred 56, it also passed in the senate 64 to 45 of 12 democrats voting with all republicans. it is expected to be the first bill signed into law by donald trump in his new term.

the federal reserve chair, republican jerome powell, who was first appointed by donald trump and thenoesn't sound afraid of donald trump. >> if he asked you to leave, would you go? >> no. >> do you think that legally. you're not required to leave? >> no. >> do you believe the president has the power to fire or demote you? and has the fed determine the legality of a president demoting at will any of the other governors with leadership positions. >> not permitted under the law? >> and so. >> donald trump. who likes to flaunt his power, didn't realize that he was flaunting his powerless ness with jerome powell today. the lie donald trump told to the world economic forum today is a lie he has told just about every day of his political career. it's one thing to tell a lie to people who don't know it's a lie. like trump supporters at a trump rally. it's another thing. it is indeed pathological to tell a lie directly to people who all know it's a lie. you're going to recognize this lie when you hear it. you've heard it before. here's today's version. >> if you don't make your product in amer

fed chairman jerome powell is explaining the decision announced just minutes ago to keep interest rateste public pressure from president trump to lower them. nbc news senior business correspondent christine romans is here with me. the fed cut interest rates three times in a row, but not this time. why? you know, the fed dropped. >> a line in. >> its statement. >> saying that inflation. >> was getting better. >> instead they said inflation is. >> still elevated. >> so i think that's the concern here that the. >> progress on inflation might have stalled. >> and they don't want to cut rates and sort of, you know, rev up the economy. >> here saying. >> the economy and. >> the job. >> market are still strong but a strong economy and inflation too high. that's not a that's not. >> a recipe for cutting rates. president trump told business leaders in davos he'll demand that the fed drop rates immediately. obviously the message was maybe not received or received, but ignored. what do we know about that? >> the fed chief, that. >> was the. >> very first question. >> he was asked by reporters. are

unfortunately the fed has been during the fact that inflation has turned up sent june arguably an answer jerome powellinflation forecast have fallen apart and i really worry that we can end up with potential hikes at the end of this year unless we get a lot of fact cut out of the government which is obviously a hard thing to do. maria: we will be watching that, great conversation we appreciate your time, we will be watching. dan niles joining us. rebuilding california devastating wildfires adding to the already dire housing crisis in the state admired by costly regulation and the lack of insurance. this yoga national association of my parents worked hard for everything we had. ♪ they taught me the value of a dollar, and how to use it wisely. ♪ those lessons are forever, and today i share them with all our employees. it's why i team up with vanguard for our company's 401k plan, because everyone deserves to have someone look out for their financial well-being. ♪ vanguard. fifty years of helping investors be well on their way. (traffic noises) (♪) the road to opportunity. is often the road overlooked. (♪

indicates there could be a showdown between president trump and the chair of the federal reserve jerome powellled slower interest rate cuts with some concerned about the impact of trump policies like tariffs and what it could have on inflation. in the same speech, trump said he would ask saudi arabia and the other opec nations to lower oil prices, and he suggested that the elevated oil price was helping vladimir putin in his war in ukraine. and he said that, quote, bringing down the oil price will end that war. now, on to crypto. president trump signed an executive order that would create a working group to advise the white house on regulation in particular. it will include the creation of a national crypto currency stockpile as promised during his campaign. it will include the treasury, sec and other federal agencies, and they will have to submit to president trump their report and findings in six months. >> thank you. >>> still to come, the all-stars are coming out for the super bowl halftime show. >>> and cinephiles. . >>> and cinephiles. for chest cn only mask the symptoms. hey... how you

unfortunately the fed has been during the fact that inflation has turned up sent june arguably an answer jerome powell has said our inflation forecast have fallen apart and i really worry that we can end up with potential hikes at the end of this year unless we get a lot of fact cut out of the government which is obviously a hard thing to do. maria: we will be watching that, great conversation we appreciate your time, we will be watching. dan niles joining us. rebuilding california devastating wildfires adding to the already dire housing crisis in the state admired by costly regulation and the lack of insurance. this yoga national association of we've always been competitive. ♪ yeah...one of us always had to be first. - first! - first! [kids bickering] [kids bickering] hold on, guys! ♪ first! today, we're first together. we love you, mom and dad. thank you so much for making it possible. and now you can finally put yourselves first. vanguard. fifty years of helping you invest for all of life's firsts. ♪ check in time is 3:00 it's 2:55. i know. is this what he's doing now? as your host, i have some rul

announcer: federal reserve chair jerome powell announced that the fed is keeping the federal interest rate steady

[captions copyright national cable satellite corp. 2025] on wednesday federal reserve chair jerome powell monetary policy will affect federal. watch live eastern on c-span, c-span now free mobile app or online at c-span.org. live pictures this january morning for the u.s. senate will gambling shortly. lawmakers are expected to vote to confirm president trump somebody for treasury secretary, scott. later this evening, the chamber will vote to limit debate on president trump somebody transportation secretary, john b. live to the floor of the u.s. senate here on c-span2. ... the president pro tempore: the senate will come to order. the chaplain, dr. black, will open the se

unfortunately the fed has been during the fact that inflation has turned up sent june arguably an answer jerome powellas said our inflation forecast have fallen apart and i really worry that we can end up with potential hikes at the end of this year unless we get a lot of fact cut out of the government which is obviously a hard thing to do. maria: we will be watching that, great conversation we appreciate your time, we will be watching. dan niles joining us. rebuilding california devastating wildfires adding to the already dire housing crisis in the state admired by costly regulation and the lack of insurance. this yoga national association of sofi is helping me get my money right to achieve my ambitions. like a saving for a better swing. loosen that grip. with sofi, i earn more money on my money and pay no account fees. plus i'm investing in my game. sofi can help fund all your ambitions. (♪) no matter how ambitious. bank with sofi to score a higher apy and an epic welcome bonus. sofi. get your money right. (luke) alright, let's settle down, everybody. now that we have a completely new homes-dot-com

unfortunately the fed has been during the fact that inflation has turned up sent june arguably an answer jerome powell said our inflation forecast have fallen apart and i really worry that we can end up with potential hikes at the end of this year unless we get a lot of fact cut out of the government which is obviously a hard thing to do. maria: we will be watching that, great conversation we appreciate your time, we will be watching. dan niles joining us. rebuilding california devastating wildfires adding to the already dire housing crisis in the state admired by costly regulation and the lack of insurance. this yoga national association of homebuilders here on the challenges and that the facing in the long road to recovery. stay with us. (traffic noises) (♪) the road to opportunity. is often the road overlooked. (♪) at enterprise mobility, we guide companies to unique solutions, from our team of mobility experts. because we believe the more ways we all have to move forward. the further we'll all go. after careful review of medical guidance and research on pain relief, my recommendation is simple: ev

unfortunately the fed has been during the fact that inflation has turned up sent june arguably an answer jerome powelltion forecast have fallen apart and i really worry that we can end up with potential hikes at the end of this year unless we get a lot of fact cut out of the government which is obviously a hard thing to do. maria: we will be watching that, great conversation we appreciate your time, we will be watching. dan niles joining us. rebuilding california devastating wildfires adding to the already dire housing crisis in the state admired by costly regulation and the lack of insurance. this yoga national association of [sofi mnemonic] can a personal loan unlock your ambitions? oh yeah. borrow up to a hundred thousand dollars to consolidate bad debt and save money for your next goal. take a swing at your kitchen reno... meant that literally. or design your actual dream wedding. consolidate bad debt and fund all your ambitions with a sofi personal loan. go to sofi.com to view your rate. sofi. get your money right. (traffic noises) (♪) the road to opportunity. is often the road overlooked. (♪) at

late today, fed chairman jerome powell when asked by abc news said the fed will remain independent and not succumb to political pressure from the white house. >>> when we come back tonight, the horror in philadelphia, after the eagles' big win. the celebration turning tragic. a fan up on a light pole falling to his death. >>> also tonight, the major recall involving a very popular brand of potato chips. >>> and the remarkable moment, you'll see it right here tonight. deputies rescuing a 100-year-old woman in the california wildfires, and what she said to them, in a moment. we're stilg for that sweet shot. and with higher stroke risk from afib not caused by a heart valve problem... we're going for eliquis. eliquis reduces stroke risk. and has less major bleeding. over 97% of eliquis patients did not experience a stroke. don't stop eliquis without asking your doctor. stroke risk may increase. eliquis can cause serious, and in rare cases, fatal bleeding. don't take if you have an artificial heart valve, abnormal bleeding, or antiphospholipid syndrome. while taking, you may bruise more eas

. >> on wednesday federal reserve chair jerome powell will hold a news conference to discuss interest rates and monetary policy all of his meeting with the federal open market committee. you can watch the live at 2:30 p.m. eastern on c-span, c-span now app free mobile app or online at c-span.org. >> democracy, it isn't just an idea. if that a process, a proced by leaders elected to the highest office and entrusted to a select few regarding its basic principles. it's what debates unfold, decisions are made and the nation's course is charted. democracy in real time. this is your government at work this is c-span, giving you your democracy unfiltered. >> mark gordon assert as a governor of wyoming since 2019. in the january spoke about infrastructure and regulations during his annual state of the state address in the state capital of cheyenne. this runs about two minutes. [applause] >> good morning. good to see you. what a day. what a day. thank you. thank you. thank you, pastor, for that wonderful, wonderful opening prayer. mr. president, speaker nyman, members of the 68th legislature,

jerome powell. he has got, he's got power.ith the inflation that he doesn't want to arrest them lowballed the actual inflation rate that is an input cost and everything in government. how much were going to get increase in social security. and until he comes to bear and gets inflation and the purchasing power of the dollar the value of the dollar at zero, we do not, 2% target, this was dreamed up i guess 15 jessica which allowed them to go ahead and just print more money. the only way we're going to arrest inflation is we have got to stop throwing the money around. we are trillions of dollars in debt. the train has left the station. we are on a collision course, cannonball run going down the hill. i don't know, mike johnson i don't know if he's the man to do it. we need the freedom caucus. i like jim jordan. i want a heavy hand. i want to spend to stop. i want jerome powell to be, to go ahead, be more realistic about this inflation and stop lying to the people, gotcha. we will sharpen his comments a little bit. the economy was

cheryl: certainly that political pressure jerome powell has been here before the other story, meetingsor 2025, before you go developments on new years' day nippon steel is trying to acquire u.s. steel reportedly a new proposal to president biden giving of thes government veto power over any potential cuts, to their production capacity. so, you know biden only got until january 7 to make this decision. so, if he doesn't take action at the the merger gets approved. >> a merger automatically gets approved is that what you said. cheryl: it goes through. >> yeah, no. i think. cheryl: can make up -- >> to add color here cannot come to conclusion, on biden's desk before i go ahead. >> i think needs to make a decision whether or not can make a decision, that is a whole nother question about whether this goes through one way or the other anxiety about a japanese company owning this big u.s. steel producer, on is it right thing should it happen should we allow it to happen not allow it to happen, i hope that he says something before the 7th of january at least guardrails around it. >> great to s

it's also if you think about the backgrounds of a lot of the members, particularly jerome powell. if paul voker is your hero, you're probably always going to lean a little hawkish when it's a little uncertain. i think the cost of waiting, as opposed to the cost of cutting and then being wrong, is probably a lot lower. >> julie, i think, is everybody's hero today. because she's doing a show out there in southern california, having to be evacuated from her home. obviously we wish her and everybody the best. but the fact that she's doing the show tonight is testament to her. so my hero for the next 43 minutes. >> after that, who knows? >> after that, who knows? >>> and a quick programming note here. be sure to tune in to mad money tonight. jim is chatting with ceos of merck, cardinal health and regeneron. >>> coming up, boeing deliveries. the drop in those numbers with the widening rivals. >>> plus, the quantum leap. the group bouncing back to start the new year. will the energy continue for these new names. or is the computing revolution still change? when "fast money" returns. >> t

host: appreciate your time this morning >> today federal reserve chair jerome powell will hold eye news conference to discuss interest rates and money tarry policy. following his meeting with the federal open market committee. you can watch it live at 2:30 p.m. eastern on c-span, c-span now, our free mobile app, or online at c-span.org. >> c-span, democracy unfiltered. we're funded by these television companies and more. including charter communications. >> charter is proud to be recognized as one of the best internet providers. we're just getting started. building 100,000 mile of new infrastructure to reach those who need it most. >> charter communications supports c-span as aublic service. along with these other television providers giving you a front row seat to democracy. c-span, democracy unfiltered. we're funded by these television companies and more, including charter communications. >> charter is proud to be recognized as one of the best internet providers. building 100,000 miles of new infrastructure to reach those who need it most. >> charter communications supports c-span as

the reason being is that the federal reserve remains under jerome powell and it needs chairman powellory reform. going forward you will see additional reviews and may be tinkering to the stress capital buffer but i know that capital levels -- i do not think capital levels will change very much because deregulation is not a magical want. you need the off troll -- the calm -- the office of the comptroller and the fed to go along. if you are banking on the regulatory aspects hitting the bottom line you are looking at 2027 at the earliest because 2025 and 2026 they will be looking -- working on it. scarlet: if basal 3 will be delayed or eliminated, how will that be a boost to the industry because it was never implemented? nathan: if it is implemented it will be in a way that is capital neutral, and the banks will tell the regulators keep us at a level playing field with european counterparts. going forward, if it is delayed, then you will get questions of what the capital regime looks like because remember, basal 4 has already been implemented in europe. so if they begin questioning their

“music playing” liz: fox business alert tomorrow the first meeting of the year jerome powell and companyhe january interest-rate move, let's be clear the committee is expected to leave rates unchanged fed's fund show a 97% odds of no cut but powell is likely to face questions at his press conference on president trump's pointed demand last week that the fed cut rates again. i would begin independent institute senior fellow judy shelton during president trump's first term she was one of the pick to serve on the federal order of directors, welcome back to the showed you agree the interest-rate should drop immediately? >> i think even putting it that way shows the wrong emphasis. he preceded that statement by saying with oil prices coming down that was as big untrue stipulation. he was saying this is entirely consistent intellectually with the fed's own model the whole idea of high interest rates is to fight inflation. energy is a huge component of inflation so it president trump's efforts to increase the supply of energy brings down the price of energy that brings down inflation, the fed s

mike: president trump is also leaning on fed chairman jerome powell to bring down interest rates.ook, i think that's significant, but i think the fiscal policy that that you'll see is going to be even more significant coming forward. it's already the directives that trump, president trump has signed that a you're going to see the changes. we've had a lot of monotower policy -- monetary policy, but the fiscal policy that he sets is going to make the changes it's, you know, energy, whether it's involvement in a.i., whether it's involvement in bitcoin. a lot of those are fiscal policies that that will help the economy a lot. mike: let me pick up on a point you just made. the president's vowing make the u.s. the capital of crypto. how big is that? >> i think that's a huge, huge, huge, positive thing for this country, for us to lead in something that's here. it's not going anywhere. look, mike, crypto, especially bitcoin, has been the best performing asset in the last ten years. now, it's volatile and nobody can, you know, deny that, but it's been a great performer. and we're very much

that is seen and i believe that was the first shot at jerome powell. >> that was his first shot. he will have more shots at mr. powell over the course of the next several months, no question. the president has very little control over the overnight fed funds rate, very little control over the back end of the curve and at this point inflation is a paramount circumstance to be disturbed about. commodity prices are going from the lower left to the upper right. gold prices are making new all-time highs. crude oil prices have been stronger than i had thought likely and likely to remain strong despite the drill, baby, drill, so the fact that the president's going to be pushing on the overnight -- pushing the fed to cut rates i think is an ill advised move on his part. better for him to be silent and let the fed do its job. cheryl: well, let's take a look at crypto prices because they've been moving higher after president trump's executive order which aims to make the u.s. the crypto capital of the world by potentially developing a national stockpile. fox business' edward lawrence spoke

guest: he has a decision coming up with jerome powell. the federal reserve is supposed to be independent and a lot of people say it is too unaccountable. but the federal reserve board and who the president appoints is enormously important. we know this from jenny carter's -- jimmy carter's presidency. jimmy voelker shame -- tamed inflation under reagan's first term when interest rates were allowed to beat inflation because inflation as joe biden and kamala harris would relate is an incumbent killer. when voelker did this itunemploo 10%. interest rates were somewhere around 17% in reagan's first term. once inflation was defeated, interest rates came down and the business cycle recovered in time for the reelection campaign. jimmy carter did not have that good luck. as far as jerome powell has handled the federal reserve, i'm not an expert. he has gotten mixed reviews from people who know more about this than i do. whether or not the fed acted soon enough to tame inflation, that debate will continue. monetary policy was too accommodating for

announcer: federal reserve chair jerome powell announced that the fed is keeping the federal interest rate steady at 4.25%, despite president trump's call for more cuts. his announcement came after the january federal committee meeting. he pointed to persistent inflation as reasons to keep the interest rate steady, saying with a policy stance significantly less restrictive and the economy remaining strong, we do not need to be in a hurry to adjust our policy stance. chair powell: good afternoon. my colleagues and i remain squarely focused on achieving our dual mandate goals of maximum employment and stable prices for the benefit of the american people. people. the economy is strong overall and has made significant progress toward our goals over the past two years. labor market conditions have cooled from their formerly overheated state and remain solid. inflation has moved much closer to our 2% longer run goal, though it remains somewhat elevated. in support of our goals, today the federal open market committee decided to leave our policy interest rate unchanged and to continue to red

jerome powell took questions on the economy, modeling for changes under donald trump. let's go back to the news conference live. >> the selloff of the stock market live signaled anything to you about the state of financial condition s? >> so, on -- let's talk alaska runoffs and the most recent data suggests that reserved are still abundant and reserves remain roughly as high as they were when runoff began and the federal funds rate is very steady within the target range. we track a bunch of metrics and they do tend to point to reserves being abundant. we do intend to reduce the size of balance sheet to a level that's consist with implementing monetary policy efficientically effectively in the ample reserve regime. closely mono-tarring a range of indicators to assess conditions and that should provide signals and reserves are approaching a level that could be judged as "somewhat above ample". i having to say to you about particular dates. that's the process and what we see is that rating appear abundant and we take monetary policy to include the details of the approach

measures of inflation have turned higher and you see fed acknowledge that on december 18th when jerome powellour nation forecast have kind of fallen apart s&p went down 3% bond yields surged, so i think if you do have an issue with inflation reigniting the fed pausing having to -- think a good 50% chance potentially happening you can see market multiples contract 30 to 40% along with stocks. >> i we're in what that means for the fed hawkish pivot fed cut rates for the last time in a couple of months i think, really markets have been uncertain tell us how you want to latino capital in this environment i know one of your top picks is kash. are guaranteed 4% yield money market fund dry powder what you are writing about to clients about number one pick, cash? really? >> yeah. well, you have to remember last time i picked cash in 2022 s&p went down 19% so i think right now, you are getting a very good yield 4%, it does give you dry powder because you have to remember for the overall stock market, if you go back through history look at when inflation was between 2 1/2 to 3%, the trailing multiple o

on the call earlier today, and i've said it, i'm not a fan of the federal reserve, but i think jerome powell, on the margins, has done a really good job signaling what they're going to do. he's made some mistakes, as well, but here we are at the market at e ffectively all-time highs. you sort of look under the -- empire state manufacturing came out today. it was down, like, 12% or somewhere either side of 12%. street was looking for basically flat to slightly higher. there's some things under the surface that should be concerning. and i'll say again, you know, people talk about the strength of the consumer -- yeah, they spend money. consumer, though, if you look at it, the balance sheets are on the wrong end of things. >> i just -- i think the economy and the strength is really exciting. i think there are a lot of pieces of the economy that got used to being funded at zero. and this higher for longer dynamic, i don't think rates need to go down a lot. in, we're all saying they're kind of normalizing. you get to a place where there will be credit issues out there, but in the meantime, i think

25 basis points last month, but revised outlook for 2025 to just two cuts, with the chairman, jerome powell, saying the central bank will be cautious on any future reductions while inflation has been quote, moving sideways. now, to put it all into context, let's discuss all of this with our next guest, head of research. great to have you on the show. >> thanks. >> i would like to first get your thoughts on this latest data that we obtained in the united states. are you also of the camp that the figures are quite concerning in terms of what they mean for potential rate cuts from the fed? >> i think the big challenge you have is we have this friendly macro backdrop in the last two years where you had good growth with inflation falling. with inflation not falling anymore, possibly rising, and i think this new medium we need to find, it's more important for the bond market and the bond market as often is the case, is potentially over shooting. we certainly think so. we think the market is pricing for the first half of next year, for the whole year, and you have to consider that they are still v

fed chair jerome powell said the fed would need to see real progress on inflation, or some weakness inhe labor market, before considering an adjustment. >> the market has really been broadly stable. the unemployment rate has been broadly stable now for six months. conditions seem to be broadly in balance. >> some analysts say there are concerns about whether progress in bringing down inflation has stalled, but the fed has indicated there will likely be interest cuts later this year and stocks move lower on wall street. following the announcement, the dow was down 136 points. the nasdaq slipped 101 and the s&p lost 28 points. shares of nvidia were down almost 4% today. starbucks was up just over 8% after releasing quarterly profits that were better than expected. well, the big easy is set to host thousands of football fans in just over a week for super bowl 59. still ahead, the measures being taken now to keep people safe. plus. >> more hostages are set to be released as thousands of palestinians return home. i'm tr yingst in t a behold! a glorious round table pepperoni pizz... huh? beh

fed chair jerome powell and other policymakers warned that inflation remains somewhat elevated. pause comes after the central bank cut rates three consecutive times to end 2024. let's turn over to the markets and see that the financial investors don't like what they heard. dow jones is going to end the session down very slightly after spending at least more than half of it there. on the plus side of things, s&p also showing a slight drop of about one third of 1%. nasdaq is down by one half of 1%. >> now to the trump administration's efforts to freeze $3 trillion in federal funding. the white house rescinded its order today, less than two days after sparking widespread confusion and legal challenges across the country. the funding freeze was set to impact student loans, law enforcement, health care and other agencies. sources say the white house office of management and budget sent a two sentence notice today to agencies and departments halting that federal funding freeze. >> i saw a man working on the roof and it just went down like matchsticks. >> one person died. four others h

fed chair jerome powell said the fed would need to see real progress on inflation, or some weakness inhe labor market, before considering an adjustment. >> the market has really been broadly stable. the unemployment rate has been broadly stable now for six months. conditions seem to be broadly in balance. >> there is some apprehension about whether progress in bringing down inflation has stalled, but the fed believes there will likely be interest cuts later in the year. joining us with some insight is financial expert james mcbride. good to have you in. >> good to see you, frank. >> all right. well let's first flush your thoughts about holding them in check today. >> makes a lot of sense. you know, the inflation is being persistent. they're trying to push it down, but it's not in that bad of shape. if you look at what the what the fed has achieved so far. their preferred index is called the pce. personal consumption expenditures. that headline number that's about 2.4. you know, historically, if you look back 50 years or something, inflation is something like 3.6. so they're doing a goo

better than the one who's primarily making the decisions, alluding, of course, to fed chairman jerome powell, who trump himself nominated back in 2017. of course, the president does not call the shots on interest rates. that's up to the fed. and the fed is an independent government agency that is by design. sometimes the fed has to make tough, unpopular decisions. and that's why it's supposed to be insulated from politics. but john, look, the fed independence is facing a new test starting today because it's colliding directly with what president trump wants to see independent. >> but they also do have ears. matt egan, it is great to have you there. we will see today expectation is no cut. but i suppose anything could happen. all right. the new warning from economists. it could be the difference between having a job or not getting evicted, or putting food on the table. what president trump's funding freeze could mean for you. and this morning, an investigation is underway after a u.s. fighter jet spiraled out of control, bursting into flames. new video shows the moment that the pilot managed

but before that, we'll get the first fed meeting of the year tomorrow, with chair jerome powell set toecision. this ahead of fourth quarter gdp data thursday and core pce prices on friday. and deep seek is top of mind, of course, with big tech companies set to report results this week. microsoft, meta and tesla will all report tomorrow, followed by apple on thursday. and interestingly, apple shares actually moved higher in yesterday's trade. so it wasn't part of the big sell off that we saw. will be interesting to hear their take on developments over the last 48 hours. as for trade in europe, let's get a check on how the stoxx 600 and the bourses are faring right now. the positive start seems to be holding. it's still green across the board. stoxx 600 moving higher after the major tech sell off yesterday. all major regions are higher at this stage. looking at the us chip makers pre-market, we've got nvidia shares rebounding about 5% at this stage. but to put it into context, the stock dropped 17% yesterday, losing $600 billion in market value, the biggest one day drop on record and lar

so all of the attention is going to be on the comments from the chair, jerome powell, in terms of whator the us economy. but perhaps even more importantly, ali, is the fact that this meeting is the first one post the inauguration of donald trump. and we actually heard the president having very strong comments in terms of how he believes the fed should cut rates. he believes that the current level of interest rate is too high and the fed needs to address that. so surely there will be some questions about that for the fed later today. but of course, we know that their main line is that they are independent in terms of those monetary policy decisions. >> yeah, but that doesn't mean they're not still going to hear from president trump about it. meanwhile, american consumers lost confidence for the second consecutive month at the start of president trump's second term. so what does that say to you about the state of the us economy? >> so indeed, these figures were a little bit disappointing, really. it was for the second month in a row that we saw consumer sentiment, confidence weakening in

the market ignored that until jerome powell said the inflation forecast has fallen apart in the marketisk because the fed is probably on pause, that is my opinion. you might get rate hikes and that environment of trailing 25 times when historically it is about 19 times when cpi is about 2.5% to 3%, that is potentially a problem and bond yields are about 100 basis points lower than they normally are with cpi between 2.5 to three boys -- 23%. that is why worry about a drawdown this year if inflation doesn't fact looked like it is being sticky or moving up. the three -- the fed has to hike. if we thread the needle and inflation doesn't have a problem you can see inflation over 10%. but, that is why it feel like cash is one of my top five investments for starting. the last time i had that was in 2022 when the market went down 19%. we will see what happens. lisa: i was looking at your 2025 top-five tics. below cash you talked about cisco. you talked about the big chinese tech companies. are you concerned about what is going on with chinese hackers. cisco was named as a companies that the ch

jerome powell, everybody in the fed, they're human beings. >> nobody wants to be attacked. >> like refs in a football game. they are probably influenced by the crowd. >> even if you want to. >> pretend they are not. that said, we are learning that the federal reserve may not be in control of borrowing costs anyway. maybe if donald trump wants to yell at somebody, he should yell at the bond market. >> because while the. >> federal reserve is cutting rates, the bond. market is raising rates, right. >> well, i. >> believe i. believe it was president clinton who. >> president clinton who. discovered the. >> power of the bond market. >> and you can yell. >> at the at the bond market, but the bond vigilantes. >> are super powerful. >> and. >> they're. >> going to be. especially powerful. >> if you're if your national debt is going up and there's no plan to lower it. >> julia. >> exactly. so even if you are successful in intimidating the human policymakers into keeping rates lower than they otherwise might, that could have the exact opposite effect on the long end. if it feels if there's a sen

guest: he has a decision coming up with jerome powell.he federal reserve is supposed to be independent and a lot of people say it is too unaccountable. but the federal reserve board and who the president appoints is enormously important. we know this from jenny carter's -- jimmy carter's presidency. jimmy voelker shame -- tamed inflation under reagan's first term when interest rates were allowed to beat inflation because inflation as joe biden and kamala harris would relate is an incumbent killer. when voelker did this itunemploo 10%. interest rates were somewhere around 17% in reagan's first term. once inflation was defeated, interest rates came down and the business cycle recovered in time for the reelection campaign. jimmy carter did not have that good luck. as far as jerome powell has handled the federal reserve, i'm not an expert. he has gotten mixed reviews from people who know more about this than i do. whether or not the fed acted soon enough to tame inflation, that debate will continue. monetary policy was too accommodating for t

later this hour we're going to hear from jerome powell. he's going to face some questions about why the fed decided to pause. and also what he's thinking about as far as potential changes in policy from this administration, including around tariffs. we're going to be looking for any clues from powell about what it's going to take to get the fed out of this holding pattern and back to cutting interest rates. back to you. >> all right, matt egan with the very latest on that. thank you very much. let's turn now to mark zandi, chief economist for moody's. mark, thanks for being here with us. let's just start first with what this expected decision signals about the state of the economy. >> it's good. the job market in particular is strong. we got a lot of jobs in the month of december. so coming into 2025, we're in a pretty good spot. unemployment 4%. you know we've been there for three years 4%. very consistent with the estimates of the economy's full employment unemployment rate. so all good there. so the economy feels pretty good. and you kn

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jerome powell has said that he doesn't see a ton of interest rate cuts on the horizon for the coming ar because he started to see inflation creeping back up. for the colors purposes, powell is probably going to try to keep them as even as they can and probably not cut rates unless something unforeseen happens peer but molly is right, from an economic perspective, these different priorities the republicans are pursuing have the potential to break open inflation again. host: in the 119th congress, hakeem jeffries is expected to remain the minority leader. what do democrats do going forward in response to the congress under republican control shakes out? guest: if you get people in unguarded moments in the minority they will be honest saying that being in the minority is more fun because it comes with the ability to criticize what the majority is doing and with the house having no obligation for running and crafting legislation, especially in a situation like this where the republicans are largely debating among themselves. democrats have a platform right now where they basically can hav