alan, you want to start us off? chairman greenspan: well, i think that china has made extraordinary progress and, indeed, it's fairly evident that this stage they are on -- that the yuan is getting close to being a floating currency. gotten yuan has not yet to a point where it is accepted internationally. and the total amount of holdings of you on -- of yuan in international reserves privately is really very small, so they have a long way to go, and i don't see the yuan as a significant threat to the dollar, as yet. if, obviously, it could be, it changes its overall structure, which is doing -- it is doing very slowly. fareed: paul, do you have any thoughts? chairman volcker: i'm not sure i understand all this business about a threat to the dollar. what are they threatening? the dollar will be an interesting international currency so long as we pay attention to stability at home and we don't follow fareed zakaria's advice of increasing the inflation rate, and all that kind of -- >> [laughter] chairman volcker: china is very big. how m

the other speakers are ben bernanke, alan greenspan and paul volcker. this was at the international house of new york. it's an hour and 15 minutes. [applause] >> well, welcome, everybody. i'm the dude from the video. [laughter] i'm also the president and ceo of international house. i want to thank you so much for this historic occasion. we are very, very excited this evening to have what we call the fabulous four fed chairs. and this evening is going to be spectacular for a variety of reasons. but first, i want to take a cue from adam mckay who was the former lead writer for "saturday night live," and he once said there's nothing that people love more than a federal reserve joke. [laughter] so i will tell you a joke. and it is a joke by a federal reserve chair, yam martin, who served from 1951-970 under five presidents. yo i may have heard this before -- you may have heard this before, i be i i this -- but i think it's worth stating. the job of the federal reserve, he famously said s to take away the punch bowl just before the party gets going. [laughte

fareed: let me ask alan greenspan to take this. there is this dual function.ou faced it in your term, the central banker of the united states? or the central maker of the world? in 1998 there was the russian default, and you cut rates. it might've been the right for the world economy, but the u.s. was growing at 6%. was it the right thing for the u.s. economy? how did you resolve that tension? mr. greenspan: at the time, and i think even now, you cannot disassociate what happening in the united states from the rest of the world. in that particular instance in the late 1990's, we have a situation in which if we did not endeavor to stem some of the problems that were going on elsewhere, it would be just a matter of time before it impacted on the united states. so, even though statutorily and legally we are responsible only for the monetary policy of the united states, it would be full list to think we could act in an isolated manner from the rest of the world. there is no way that can happen, and especially in recent years, where the integration globally has bee

alan greenspan, who led the fed for almost 20 years, joined the group from a d.c. studio.ten in to some of the highlights. >> alan greenspan, when you were running the federal reserve, people would sometimes describe your performance there as god on a good day. i think senator john mccain said that his strategy to succeed you was to have a dummy made up of alan greenspan and put him in the federal reserve chair like "weekend at bernie's," that movie. on wall street, they would celebrate your birthday with cakes and things like that. did that go to your head? >> no, but it sure enough embarrassed me. i very much appreciated that. i got past the embarrassment very easily. >> paul volcker, you had a very different situation. you were hung in effigy when you raised interest rates because people thought you had single handedly plunged the american economy into a recession. how difficult was it to deal with that? >> i thought they were cheering me. >> you thought they were cheering you? >> look, to answer your basic question, what's it like to be the chairman with all this autho

fareed: if alan greenspan is right, there is a lot of uncertainty. no matter how much you prepare, do you think that there is some level of just intuition? ms. yellen: i think that is absolutely true. i don't disagree in any way with what alan said. but i think ben and i encountered a very unusual situation when, at the end of 2008, short-term interest rates came down to 0%, and we still felt the need to add accommodation. and we had to think about what could we do that would provide more accommodation. we focused on longer-term interest rates. they were still several hundred basis points -- there did seem to be scope to there did seem to be scope to move them down. since one of the factors that influences long-term interest rate is the public expert expurgation about how to appropriately think to communicate to the public our expectation that would be keeping short-term interest rates at rock-bottom interest rates for a very long time. so communication became a tool of policy. improbably the most potent tool that we have, along with asset purchases,

[laughter] fareed: alan greenspan was registering agreement with that. if you can begin again. sit at two so, we criteria's to boost the fund rate. it led to the december decision. we wanted to see substantial labor market.e we felt that has been satisfied. recognizing inflation is below are 2% objective, wanted to feel reasonably confident it would move up over the 2%. think those conditions were satisfied in december and justified taking a step. not in anylicy is preset course. although every three months my colleagues and i said out our individual projections of what we anticipate for the economy and also going along with that, what we think is a monetary policy path that would be appropriate. that gives a suggestion of where people think the economy is going but we try to make very clear there is not a preset course of rate increases. we will watch carefully what is happening in the economy and adjust policies. .e took one step the u.s. economy has continued to progress in a satisfactory way. we have continued to see good job performance, some evidence of inflation moving u

[laughter] alan greenspan: i thought i had succeeded marvelously. that's where fed speak comes from. : is that part of the goal, you don't want to say some into definitive because it constrains you? greenspan: i think the real problem is the monetary policy is largely economic forecasting. our ability to forecast is significantly limited, and we have to keep the context of what we say in the context of what we know, and this is a very serious problem that has always existed. i think janet mentioned she is confronting this all the time. i've had to live the role of that. how do you convey what you know in what is clear without going into the area of forecasting beyond our knowledge? [laughter] fareed: you have a reputation for being very prepared. airportys get to the that you are so early you are the first person on the plane. how does that translate into the way you approach this job? ms. yellen: i think that's a lifelong habit that is probably accurate about me. i am prepared, like ben, in managing, for example, the fomc -- we have a very thorough

three chairs ben , bernanke, alan greenspan, and paul volcker. the international house of new york. it is about one hour and 15 minutes. [applause] welcome. fromcalvin sims, the dude the video and also president and ceo of international house. i want to thank you for joining us. we are very excited to have what we call the fabulous four fed chairs. this evening is going to be spectacular for a variety of reasons. first, i want to take a cue from leadmckay, the former writer of "saturday night live." he said there is nothing people love more than a federal reserve joke. [laughter] so i will tell you a joke.

interview not only janet yellen, ben bernanke, alan greenspan. the most legendary combo of interviews. >> but three of the four cannot move markets whatsoever. >> that's true. and nobody is actually looking for her to move markets that much. >> be more jealous if the panel had draghi, kuroda, carney, and yellen. that would be epic. we'll organize that one. >> this is "worldwide exchange." we'll go global. fareed, you've got nothing on us. >> once we've organized that. right. our top story this morning, jpmorgan releasing ceo jamie dimon's annual letter to shareholders last night. among the highlights, dimon says he's not worried about negative interest rates in the u.s. that's because the chief executive notes housing is in short supply. car sells are at record levels. consumers are spending what he calls the gas dividend. dimon is more concerned about rates rising faster than people expect, which is odd for aening baaing ceo to outline that rue. the banking ceo also warns high

alan greenspan, i recall once at a senate hearing i think it was the senator said, i think i heard youay clearly, and you interrupted him and said, if i said it clearly, senator, i must have misspoken. were you trying to be deliberately incomprehensible at times? >> i thought i succeeded marvelously. >> when we come back, the panama papers have already created turmoil in governments around the world, from iceland to pakistan to panama itself. why have no prominent americans been named? it's not why you think. i'll explain. i am totally blind. i lost my sight in afghanistan. if you're totally blind, you may also be struggling with non-24. calling 844-844-2424. or visit my24info.com. ♪ it was always just a hobby. something you did for fun. until the day it became something much more. and that is why you invest. the best returns aren't just measured in dollars. td ameritrade. we need to be ready for my name's scott strenfel and r i'm a meteorologist at pg&e. we make sure that our crews as well as our customers are prepared to how weather may impact their energy. so every single day we're

you had alan greenspan asked about the international situation. and they talked about the rate cuts that he did in 1998 a little bit. and basically, he defended his actions, saying eventually the turmoil in the rest of the world would have come back to hurt the rest -- the u.s. economy. that is something that has a lot of significance for the u.s. today. in a similar vein, ben bernanke said questions about the taper tantrum, which your guest was just speaking up -- it was a similar thing. he downplayed the impact on the economy from that. again, that is a very relevant thing for policymakers today who are trying to avoid a repeat of just that situation. so, it was interesting how you theseese defensive -- defenses of past policy and how they relate to the current situation. mark: thanks. we have about one minute left. i have to ask you, one of the more fascinating parts of this for me was when they talked about the power that these human beings have, the power the janet yellen and ben bernanke and paul volcker and alan greenspan had. is that a pow

and from washington where he just celebrated his 90th birthday, alan greenspan. [applause] >> madam chairman i have to begin with you because i think everybody is interested in what you will say. if you look at the economy very carefully, are we in an economic bubble? is it as perilous as some people on the campaign trail are suggesting? >> i would say the u.s. economy has made tremendous progress in recovering from the damage of the financial crisis. slowly but surely with well over one year have averaged 225,000 jobs per month the unemployment rate is now a 5% so we are coming close to our congressional goal of maximum employment. inflation, which my colleagues here who has given much of their time to bring that down from unacceptably high levels it is running under the 2% goal now we're focused to move that up at 2% but it is a transitory influence with climbing oil prices and a strong dollar that is responsible for pulling inflation below that 2 percent level. we're making progress there as well. to be on the solid course is not a bubble. retry carefully to l

alan greenspan spoke about how difficult it is to forecast. >> monetary policy is very largely economic forecasting. and our ability to forecast is significantly limited. and we have to keep the context of what we say in the context of what we know. >> reporter: greenspan famously warned about the dangers of irrational exuberance in stock prices in december 1996, only to see prices soar 75% over the next three years. bernanke suggested at the beginning of '07 subprime problems wouldn't hurt the broader economy or financial markets. we all know how that ended up. still, here's what bernanke said about the u.s. economy right now. >> domestic u.s. economy is moving forward. households are pretty strong, financially speaking. housing sector is continuing to expand, so on. i don't see any particular reason to think that a recession is any more likely in 2016 than it was in 2015 or 2014. >> reporter: all the fed chairs agree with the recent emphasis of fed policy on global risks. while yellen said rates would be rising she was clear the fed would be gradual and cautious in hiking those rates.

for business. >>> and she joins us throughout the morning and meeting with former fed chairman alan greenspan>> i am here with chairman greenspan. always a pleasure. nice to meet you. >> they also found u.s. growth forecast for this year. you have a theory on what's holding back the u.s. economy. what is it? >> i think you first have to look at where the problems are. and they immediately come out when you begin to examine productivity. going across the international spectrum with remarkably few exceptions every single major country, developed country and a number of developing countries are sagging badly and the last five years the growth rate has been 5.5%. and depending on how you measure it and that's basically true of everybody. i listed an analysis of all the countries. i picked up 2-thirds out of productive growth rate of less than 1% over the past five years. >> is this related to the fact that corporate investment has been low? wages have been too low. companies are not spending enough. profits are such a decline for the third quarter in a row. what's causing all of that? >> it's bas

we were told explicitly by alan greenspan.ed credibility and independence off of 1951? michael: they might talk about independent. credibility? they might get to questions about janet yellen and how the communication strategy is doing. francine: will they talk negative rates? what will they talk about, it is all theory? michael: it is all theory. nolan in the united states likes it. experience of the ecb and around the world it isn't doing a lot. money market here would be destroyed by negative rates. if they are asked about it, i would not expect a lot of enthusiasm. they do not want to criticize other banks. maybe they will come up with stories. francine: i can only imagine they would have things to say to each other in private, but will we see that? michael: they don't want to be seen as undermining the work of the current fed, and they have gone out of their way to avoid criticizing what is going on. if you look at the minutes, it is a difficult time for janet yellen. seriously, he categorized you among his students. steve

the great moderation of that alan greenspan era, and then on to bernanke and the shock and awe. the precursor for the drama last night. she loves you, yeah, yeah, yeah. hurried zakaria had to pick up -- syriza kari a -- i said yesterday they were be no news of substance, aut sack area -- but zakari went right to it. economy ise relatively good. the inflation is rising and we will be steady on inflation rates. the last time they were together was a couple of years ago for the 100th birthday celebration of the fed. this is the first am i remember anybody asking them about policy. beatles, they sang very much in harmony, talking about the difficulty of the jobs, communicating to wall street with the fed is doing, and the idea that the u.s. economy is in relatively good shape but we need more help on the fiscal side from congress. that was a pretty unified message from all of them. francine: i wonder if they talk to each other to check -- to chat shop. studentsone of the asked janet yellen about neil cash cow or a -- about neil ka shkari, about breaking up the big banks. she said he

there was real human moments, a great sneeze by alan greenspan. is talking about this idea that fed chair janet yellen said we're not in a bubble. we thought, you know what, what if this were jeopardy and we did famous last words from the fed for $100 and alan greenspan noted this idea about how the fed, monetary policy is about forecasting and the fed's ability to forecast is limited. we went back and looked for fun, maybe just call it a jeopardy edition of what we're calling fed forecasting follies. this is the most famous one. how do we know when a -- asset values which then became subject to unexpected and prolonged contractions. that was alan greenspan in 1996, talking about the stock market being overvalued. what is 75%? what is the next one? ben bernanke in february 2006, our expectations of the decline in activity or the inactivity will be moderate, house prices will probably continue to rise. melissa, what is minus 20%? minus 19%? that's how much housing prices fell when ben bernanke said that. they made good calls along the way. brought

yellen was speaking last night on an epic panel with ben bernanke, alan greenspan. i thought it was riveting. not for the news that was made but mostly because they were humans. and because they were making jokes. especially bernanke and volcker and greenspan, who are not in the fed hot seat right now. even janet yellen. it was a light hearted debate. it was about what they thought of the power. ben bernanke said i didn't get into this for the adulation. if i did, i would have failed. >> we weren't looking at the kind of day-to-day, week-to-week announcements. she said, i certainly don't regard it as a mistake, referring to that december hike. we've all been talking about how they've gone dovish again, but she was embracing that hawkishness. >> and i think it also was a good reflection, the whole conversation, as to some of the big challenges that the federal reserve faces now versus during the paul volcker central bank. for instance, there's a lot of discussion about the international effects. does the federal reserve consider what it does to the rest of the world

alan greenspan. >>> taking a look at the markets. the dow subout 0.5% higher as is the nasdaq.ng mildly higher. postpone its requirement for people to bid on that company until two weeks from now. >>> tesla now says its demand for its new model 3 over the past week has set a record for a product launch ever in a single week. any product more than 325,000 people have plunked down $1,000 deposit on a model 3 as we've discussed before, we're going be very interested in figuring out, sam and laura, how tesla is going to build all these cars. 325,000 cars are wanted. they only made 50,000 carsal last year. remember, they're talking about two, now three product lines. >> quite the waiting list. >> they are going to be working overtime at the factory. thank you very much, scott. >>> "star wars" fans a new disturbance in "the force" revealed. >> it will debut in december. to be clear, it is not the "star wars" story. it is a "star wars" story a prequill to the original film from 1977. no jedi and no major characters from any previous "star wars" films. causing the most concern to some

alan greenspan was relatively recently installed as the head of the fed to come in or been to providedity to the market. that will be necessary in the future. lisa: you think the financial system is at all safer leading into the 2000 and crash -- 2008 crash? a safer. is increasing capital is making assistance safer. the clearing mandate itself has not made it safer. lisa: still ahead, surveymonkey has taken a leading role in pulling this election. we speak with the ceo. david: we will have my interview in 10he nato general minutes. ♪ david: this is "bloomberg surveymonkey is branching out beyond its core business of online service with appw product offering analytics. emily chang is standing by in san francisco with the ceo of surveymonkey, zander lurie. emily: great to have you here on the show. this takes surveymonkey in a new direction, of business. how much will it at the bottom -- new line of business. how much will it affect the bottom line? providing ane analytic tool for companies to learn more about their products and how they fare against their competitors. we are all about

convinced we will see a sustained reduction in inventories. 5:30 eastern, janet yellen, ben bernanke, alan greenspanand paul volcker will participate in an event. you can watch that live on bloomberg tv. thank you. ♪ david: it is time for the bloomberg business flash, a look at some of the biggest news right now. treasury secretary jack lew says he disagrees with the court's ruling and says that life is not too big to fail. nor thethis dangerously lessons of the financial crisis. that research shows companies are making fewer bets on startup companies. last year have that he was number of venture deals in war years. boeing has landed for new orders for its 747 jumbo jetliners. ordered 12 737's. they also delivered fewer jetliners than they did a year earlier. stocks are just about at their lows of the session. we do have some green on the board. wynn. i want to go to jumping to its highest in eight months. they are up by more than 9% toer a company raised them outperform from market perform. just yesterday, they said they byld see $2 billion ebitda 2019. jumpath & beyond getting a from some of the e

scarlet: most of the attention will be focused on thursday when janet yellen is speaking with alan greenspan. and what comes next? alix: the oil market could look like a 2,000 housing market. this is a chart showing the rise of construction investments, looking similar to the rise in drilling and the two seem to track each other on the way up and potentially on the way down. that's the blue line if you walk the projections out. well, joining us to discuss is oomberg data columnist and doctor, you have written on this topic, what are the fundamental similarities between housing in 2 thousand and energy now? -- 2000. >> irrational ex seib brans. . the housing and everybody thought we could build more houses because there would be plenty of buyers. the people who were willing to get second mortgages and way overextend themselves because they saw prices going up. the oil industry has done the same thing. earlier in your you were talking about inventories and they are building them massively. and it will stay until it gets lick which dated. eventually the money stops and we are now seeing the ind

joe: we have been hyping this all day, fed chair janet yellen joins with ben bernanke, alan greenspanough gore at 5:30 p.m. eastern. we have live coverage on bloomberg television. you are going to want to watch them. scarlet: don't miss this, product reports earnings at 7:00 p.m. -- para -- prada reports earnings at 7:00 a.m. burglary has been mentioned in the same thrust. alix: i'm taking a look at german imports and exports. they are coming up, at 2:00 a.m. eastern. this is going to be a really great read on the health of the chinese economy, as well as the fact that what happened with the euro rallied. did that have any effect? joe: we have seen some week german industrial data. -- weak the german industrial data. it will be interesting to see if there is any connection there. alix: that is all for "what'd you miss?" we'll see you tomorrow. joe: mark: and i'm mark halperin. john: i'm john heilemann. mark: and i'm mark halperin. "with all due respect"-- >> coffee in her left hand, mental party in her right hand. one quick simple easy swipe. there are no tokens, but here is how it go

alan greenspan on video. that is my version of a finale of "american idol." you can see the latest on this at 10:00 p.m. eastern here on cnn. >> it made your friday. >>> "early start" continues now. >> the battle for votes in new york getting more bitter. late last night bernie sanders doubling down on his belief that hillary clinton is not qualified to be president. >>> donald trump with a strategy to win the white house. is he preparing to fight for delegates? >>> and breaking news. secretary of state john kerry landing in baghdad. good morning. welcome to "early start." i'm miguel marquez. >> i'm christine romans. nice to see you, miguel. friday, april 8th. 5:00 a.m. in the east. new attacks and reaction this morning

janet yellen ben bernanke, alan greenspan and paul volcker. joining us now is an expert who studies the fed past and present -- kathy jones is joining us. the chief fixed income strategist at charles schwab. it sounds like it powerhouse tonight, right? do you expect anything to come out of it? we have that many together and they are all going to try not to say something that will move the markets. >> i think janet yellen is at a distinct disadvantage to the rest of them. she has to be very careful about what she says. it should be really interesting. there are a lot of great topics i would love to hear them talk about. betty: indeed. inflation is going to be one of them. i want you to look at my bloomberg -- i want the viewers to look at it on the screen. it shows you inflation performance during these first four fed chairmen. it has kind of trended down over the decades. what do you make of that? on the one hand, there is success. on the other hand, yellen as one of the toughest jobs on the chart. kathy: that's right. i started my career when

that is when janet yellen takes part in a discussion with a liker fed share -- chairs alan greenspannd ben bernanke, all appearing in a room discussing the economy. logan, us now is kevin who is forecasting a fed hike in june. before we get to what happens later this week, i'm cures about the labor conditions index which shows a negative reading for the second month in a row. as julie and i were talking about, we are now looking at it takes 19 indicators and puts them all together. it correlates very well with the economy. kevin: the fed put this index together to get a read on the economy away from the unemployment rate. why? because labor participation was falling. it led to declines in the unemployment rate but exaggerated the improvement in the labor market. it wanted another measure of what was going on. they put these 19 indicators together into an index. it is interesting that the index has actually fallen. the unemployment rate did go up. but also hours worked went down, manufacturing employment wind down, and there's a low level of 37%. throwing all these numbers into the mi

janet yellen and former fed chairman ben bernanke, alan greenspan and paul volcker will share their thoughtshouse here in new york. i want to bring in chris, economist at bank of tokyo. you have had the privilege of meeting all four fed chairman. what are your thoughts? chris: it is pretty remarkable. whostart with volcker wanted to keep inflation low. now we had janet yellen at the end he wants to boost inflation. it is quite interesting. very, very different styles from all four. almost humorously you can say is this an intervention? the former fed chair, one chairman, they want to talk to janet and say what you doing in terms of your policy right now. it will be quite remarkable. the only

, this video we've been showing all day of janet yellen and ben bernanke sitting together and alan greenspan, what did you think all of them in the same room at the same time? >> circle the wagons and protect the leadership. i think this is because the kfrds and central banks the notion there was a grand diety may be less than true when investors scratch their heads as to the nation if the globe created 60 trillion of new debt since the crisis and that brings deflation nar pressures, they created a position they are trying to cure. it's crazy. >> we have to go at this point. thanks. we'll be talking more about that meeting last night, unprecedented gathering of former fed officials. >> like seeing all of the presidents together. >> mt. rushmore of monetary policy there. >> shares of qlogic spiking after exploring options including a sale. it has the stock up about 7%, pretty huge volume, trading resumed after being temporarily halted for volatility. you can see there shares up more than 6.25%. >> thank you, we'll see you later. we have 50 minutes left in the trading session for the week and

david sat down with alan greenspan and bernanke you just wrote a book.sier to speak your mind as paul volcker. does this put janet yellen in the hot seat westmark >> she may be the most quiet one at that meeting. her remarks of the most potential to move the markets. i expect her predecessors will be more vocal. david: do you want to show us something, matt? matt: i have isn manufacturing and nonmanufacturing. thatan see from this chart they have been coming closer and closer together and manufacturing has been a huge problem. we have not recovered from the recession. what does this mean to you? reason that this gap should get closer together? is this just a new normal? >> it's very rare that we see such a divergence between the factory sector and the nonmanufacturing service or. tends to be that wide, the service sector slows down materially and that's what we have seen over the last apple of months. it raises real questions for the overall health of the economy. i keep harping on 2% growth. ism surveys are very closely correlated. what is the potential

. >> still to come, alan greenspan, sarah.on the next hour. >> if you ever missed a flight because you were stuck in a security line you're not alone and the situation is expected to get worse. what's being done to change that? that's next. at mfs investment management, we believe in the power of active management. by debating our research to find the best investments. by looking at global and local insights to benefit from different points of view. and by consistently breaking apart risk to focus on long-term value. we actively manage with expertise and conviction. so you can invest with more certainty. mfs. that's the power of active management. that's why i run on quickbooks. details. i use the payments app to accept credit cards... ...and everything autosyncs. those sales prove my sustainable designs are better for the environment and my bottom line. that's how i own it. so what else is new? humm..she's doing good. she needs more care though. she wants to stay in her house. i don't know even where to start with that. first

at the same time there are a lot of people saying it's going to backfire, not work, including alan greenspan, the former head of the central bank of this country. >> a great lineup of people you spoke to yesterday. great work. but it's good to have you back. >>> corporate news, exchange operator bats global market pricing its ipo at $19 a share. shares expected to begin trading today on its own exchange. the company is hoping this goes better than its last attempt to go public in 2012. here's a look back at how it all played out right here on cnbc. >> apparently there was some kind of system overload that happened there. the system itself crashed. i'm trying to be fair to everybody. this is an epic embarrassment. there was one official trade. the rest were erroneous trades at a few pennies. my question here, what exactly happened? when is the stock going to reopen, if at all? >> bats says it's been aggressively testing its auction system to make sure it can handle the volume today. >>> stocks to watch today. yahoo! modifying its severance plan if they sell all of its operating business. dick

in the making for the first time ever, all four living fed chairs janet yellen, ben bernanke, alan greenspanppeared on one stage last night in new york. they say there's not a huge risk of the u.s. slipping back into recession. they are concerned about the global economy. >>> plans to stop airlines from stuffing even more passengers into coach has hit the brakes. the senate rejected an amendment to an faa bill that required that the agency set a minimum seat size for airlines and a minimum distance between rows. unfortunately for us, frank and michelle. >> yeah. [ laughter ] >> i like leg room. i'm tall. all right. hey, we all like to eat on this shift and we hear there's a very special foodie's dream getaway. tell us about that. >> reporter: all right. say bon appetit. airbnb has a listing for one of julia child's vacation homes in france. you can cook up a storm in her old kitchen. but foodies, get ready to pay up. it costs $610 a night. frank and michelle. >> that's cheap. we live in san francisco. >> yeah. >> all right. jill wagner -- >> reporter: it's for the experience. >> -- on a big

janet yellen, ben bernanke, alan greenspan and paul volcker. in conversation for the first time.e a up next, diamonds. jpmorgan ceo shares his views on rates. ♪ manus: it is 7:18 in london. what a great day. but the future indicators of a third of a half -- of a half percent. let's get you up to speed with come with a. kumutha: good morning. shares have dipped despite better than expected profit. the early release of the galaxy s seven gated a head start on apples rivals. $5.7 billion come estimated sales of the s seven hits 9 million units. chinese taking corporations have agreed to pay $320 million to barclays wealth and investment management operation in asia. sectors private banking -- the company says the move will deepen the core market of singapore, malaysia, indonesia and china. three former nomura traders have been accused in the u.s. of increasing the spread on the trade and generating $7 million in additional revenue by lying about how much they paid for debt. peters haveo, tyler pleaded not guilty and are --eduled to go to trial in as it markedcer -- down to fewer ite

janet yellen, alan greenspan, paul volcker all appearing together in conversation. this is the first time this has ever happened. up next, ceo of the bank of -- up next.ng his ♪ hans: welcome back to on the move. let's get to bloomberg's first word news with kumutha ramanathan. kumutha: thank you, hans. shares have dipped despite better-than-expected first quarter profits. the early release of the galaxy s seven gave it a head start on apple and chinese rivals. $5.7 billion. estimated sales of the s seven line hit 9 million units, triple those of the s6 in the same period last year. -- documentedg business as a part of a plan to divest more than $6 billion in assets, that is according to people with knowledge. pushese comes as dell ahead with the largest technology takeover ever. three former nomura traders have been accused in the u.s. of increasing the spread on a trade and generating $7 million in line onal revenue by how much they pay for debt. they pleaded not guilty in a scheduled to go to trial in october. ceo plans to step down according to the nikkei. earli

former fed chairs ben bernanke, paul volcker, and alan greenspan also on that panel. steve liesman has more from the event. he'll talk to us later in the hour. also, a bit of corporate news this morning. bill ackman telling cnbc the embattled drug company won't butt bausch & lomb on the block. quote, it's a core asset and we're only considering selling noncore assets. ackman's pershing square fund has lost about $1 billion on valeant since taking a stake in 2015. but on an investor call yesterday, he says he expects to make back his losses on the drug company. that may take some time. >> let's get a check on the global markets. looks better many europe this morning, even though asia, as you can see, the shanghai is down. just under 3,000. now let's go to europe, which i thought might have the hangover from our rough session. it's not too bad. i think that shows you we sort of responded to the selloff in europe yesterday. europe sort of leading us back today. as a result, we're up pretty nicely on the session. let's check out the ten-year note, which is still below 1.8

janet yellen, the federal reserve chairwoman is meeting or having conversations and alan greenspan, at 5:30 p.m.m. eastern time. maybe you wouldn't want to be. it is up. hanging meet on the ceiling, youou would go. when you think about success what does it look like? >> what surprises as we inch closer to a contested gop convention? brett behr joined me on the next kennedy. r by being a more adadventurous student? is it one day giving your daughter the opportunity she deserves? is it finally witnessing all the artistic wonders of the natural world? whatever your definition of success is helping you pursue it, is ours. t-i-a-a. every day you read headlines about businesses being hacked and intellectual property being stolen. that i is cyber-crime. d it affects each and every one of us. microsoft created the digital crimes unit to fight cyber-crime. we u the microsoft cloud to visualize information so w we can track down the criminals. when it comes to the cloud trust and security are paramomount. we're building w what we learn back into the e cloud to make people and organizations safer

yellen was joined by ben bernanke, paul volcker, and alan greenspan. healthy outlook to the u.s. economy with yellen rejecting the charge that the u.s. is in a bubble. >> we think that it's partly transitory influences, namely declining oil prices and the strong dollar that responsible for pulling inflation below the 2% level. we're making progress there as well. this is an economy on a solid course, not a bubble economy. >> you only hope this doesn't end up in a jeopardy question. greenspan was plainspoken about how difficult it is for the federal reserve to forecast. monetary policy is very largely economic forecasting. our ability to forecast is significantly limited. we have to keep the context of what we say in the context of what we know. >> no one knows that more than greenspan who famously warned about the dangers of irrational exuberance in september of '96 only to see stock market prices surge over 76% the next three years. bernanke suggested that the subprime numbers wouldn't hurt the economy. still, here's what bernanke said about the u.s.

i will still with that, whether it's janet yellen ben bernanke or alan greenspan i great with steve that it is a sweet spot. steve said make she won't change her chance. i think we can count on them changing that stance almost every meeting, but the problem is they probably won't raise a lot until after the election. i think that does afford a sweet spot. take it to the ecderivative. we're sitting at an important level, the dollar index at 94, we're seeing a key level an around 114, 115. it's all the same trade from different tangents. if that dollar weakens on all those three scenarios, that sweet spot is going to get a lot sweeter. >> all right. we'll see what happening. guys, we've got to go, thank you all for your thoughts. appreciate it. minutes left. actually the dow holding on to some gains at the moment, up 85 appointments, but the best gainer, the nasdaq, look at that, up of 4 points. >> yes, indeed. constellation brands ceo speaks with us exclusively about the spirit maker's earnings beat and whether a minimum wage increase could help its business. >>> also ahead, what the gove

sit down with christine lagarde later this week, tim adams, former federal reserve chairman, alan greenspanalk. >> for sara eisen, that's like as good as it gets in life. >> very excited. as much as i'll miss you guys here. >>> up next, both coke and pepsi trading near all-time highs despite weakness in consumption in the soda space. is it all about the dividends? that when "squawk on the street" comes back. these are the hands that plow the data, dig up clues, create opportunity, and weave messages that lead to sales. these are the hands of pitney bowes, the craftsmen of commerce. these are the hands, the hands that drive commerce, that build business across borders. these are the hands of pitney bowes, the craftsmen of commerce. >>> coke and pepsi are trading near all-time highs. will these beverage companies be able to sustain the momentum? let's bring in the senior beverage analyst from jpmorgan, and household products analyst from ubs. steven, how do you read the strength in beverage companies and other consumer staples now. is it a pessimistic view of the u.s. economy and market that

the other speakers are ben bernanke, alan greenspan and paul volcker. this was at the international house of new york. it's an hour and 15 minutes. [applause] >> well, welcome, everybody. i'm the dude from the video. [laughter] i'm also the president and ceo of international house. i want to thank you so much for this historic occasion. we are very, very excited this evening to have what we call the fabulous four fed chairs. and this evening is going to be spectacular for a variety of

tom: i call that the alan greenspan series.itical point on every nation and every system is different. european gdp, jonathan ferro's talking greek, quarter on quarter. the only one i know on the planet that can get this right is vonnie quinn. everyone else screws it up. jon: a good thing we have vonnie quinn alongside us here. the supply side of the equation meeting for- the opec members, focusing on the likelihood of reasoning -- likelihood of reaching a deal to freeze output. tom petrie joins us now. great to have you with us. you put freeze, given where production is anyway, is it bullish for crude at this point? tom: probably not. a lot of this is a game i think is being played by the leaders, the saudi's and the russians, dealing with setting up the iranians. the iranians will not concede anything, they have made that pretty clear-cut. the saudi's positioned themselves to do one thing very different from what they said. i expect two steps forward, one step back. their goal is to keep the western producers in their capital

a rare conversation with sitting fed chair janet yellen and her predecessors ben bernanke and alan greenspan eastern. something to look forward to. up next on "bloomberg ," inie dimon warns of dangers the economy. we will be talking about that next. ♪ hyman in ourlie green room. don't miss ken benson later today at 2:00 p.m. eastern on bloomberg. vonnie: you are watching "bloomberg ." here is your latest business flash. sccos slim is bidding for in barcelona. -- billionaires george soros and bill gates are also betting on its emergence from a property crash. the latest youth-oriented isthing chain to falter un.sun. -- is pacs the disney has released first trailer for "star wars: rogue one." decembereduled to open 16th. mark your calendars. jon: it is marked. thanks, vonnie. stocks are opening lower. let's strip this back. julie: i'm going to start with one of the higher movers. hanes brand acquired champion europe. it is an all cash deal. is going to be worth around 20 million euros. investors like the deal. we are also looking at s5 networks. it is down 6% after it was downgraded to

it will feature fed chair well yell and ben bernanke and alan greenspan and paul volcker. >>> in corporatein focus. elon musk saying his electric carmaker will give an update on model 3 reservations. we're taking guesses. you're playing "price is right" rules. tesla model s taking on a boeing 737 aircraft in a drag race. this is pretty amazing video. the vehicle can't fly but held up -- held its own hitting up to 175 miles per hour. the 737 hit 161 miles per hour right there at takeoff. the race was more than a cool stunt. tesla and qantas announced a partnership. >>> the masters begins today in augusta, georgia. check this out during yesterday's wednesday annual par three event a record nine holes in one were hit including this one by gary player. here's his reaction. >> what happened today is beyond one's come preending. there were nine holes in one. i don't know what the odds are. 20 million to one? i don't know what the odds are. it's just unreal. >> we are going head to augusta in the next hour and check in with our own golf pro dominic chu. >> joe is off for a different reason. >> we

things coming together with lots and lots of villains, and we profiled the rating agencies and alan greenspan and wall street executives and mortgage bankers who lured people into mortgages that they couldn't afford and in some cases homeowners who knowingly took out loans that they couldn't afford. complicated. are there any heroes? i don't know if any of you have said the movie made out of michael lewis' book, "the big short," which is great. and it portrays the small group of people who saw the financial crisis coming as heroes. and they were in a way. they saw what so many other people were unwilling to see. but usually in the financial world whistleblower come with their own, come with their own story. and in this case these people made a lot of money from the destruction of the financial crisis, that the financial crisis caused. so they're ambiguous heroes, i suppose i would say. >> ben, you actually chronicle some heroes in your book, people who really stood up to the ncaa whether it's a group of players from north western university, the sneaker guy and others. is there one that kind