governor crosson are in austan goolsbee as well as the jobs report.ll of the year was a bloomberg, anna wong was out front with the stunning call. i left her out of the room. yes, i was wrong. do you reaffirm the territory of 5% as the terminal rate? anna: our call has remained unchanged. we stay at 5%, with the upper end of 5% at the terminal rate. lisa: do you think the market has gotten ahead of the deceleration inflation? anna: i was going back and looking at forecast in the 70's and one of the interesting things i noticed is that when inflation was climbing, the fed and the markets were underestimating inflation and when inflation does come down, the fed in the market underestimate the rate of deceleration of inflation. given all the disinflationary forces we see in the world like china and inventory de-stalking i think the case for a strong pace of disinflation next year as possible. tom: i have to rip up the script. one more question, the micro economist austan goolsbee is going to prosecute monetary policy out of chicago. how will he do? a mod

austan goolsbee in at head of the fed in chicago thanks, steve. >>> we have less than 90 minutes leftthe trading day. get you caught up where the markets stand now. see's the dow jones industrial off by a little more than half a purse or 198 points. s&p is barely in the red down .08% and nasdaq composite in the green by 0.10%. financials pores performing sector bank of america, wells fargo and jpmorgan lower on the day. bofa off by 2.5% oil adding to its gains, up just under 1% at $81 a barrel now opec plus meeting this weekend and markets accounting for at least a chance of a cut. falling dar contributing also to the gain in crude. wti up three quarters percentage point. to the bond market yields falling after that weaker than expected inflation report. the core pce raising 0.2 of percent. yield on a ten-year note sitting just above 3.55% tyler? >> all right >>> turn to the pain in the housing market in the last hour we hear that wells fargo is cutting hundreds of jobs in its mortgage business across the country this is pending home sales yesterday dropped by nearly 37% year over yea

randall s kroszner , austan goolsbee will join the federal reserve team. don't want to take a lot of time, we could do an hour on the economy. this is the guy who wrote the micro economics bible was steve levin of freakonomics and others. he is steeped in micro economics. what will that voice mean to the fed? dr. kroszner: you can see from his comments that he has emphasized the supply side of the economy. focused on that and said may be the fed should not be doing as much because it is a supply issue in the fed can't dress that. -- can't address that. lisa: how do you game out the supply side when china and reopening is the surprise for next year? dr. kroszner: that is one of the issues. are we going to see a whole bunch of changes that will relax supply-side constraints. if you can't figure out the demand side because price pressures come from where supply and demand come together. lisa: what are you seeing right now that the market is not in terms of the stickiness of inflation and whether we have seen peak inflation or how quickly it can come down? dr.

charles: go over my time, austan goolsbee, the president of the chicago fed. [laughter]. ith a straight face. i like austan but golly, not for that job. >> goes to show the need for overhaul of the federal reserve. starting with the fact you don't fight inflation by making people poorer. do it by stablizing the dollar. charles: amen. thank you so much, steve. >> charles, appreciate it. charles: joining me now alabama senator tommy tuberville. back in may you introduced the financial freedom act for 401(k)s. part was to allow folks to invest in cryptocurrencies. do you still think that would be a good idea? >> well the federal government shouldn't be allowed to tell you what or who to invest in, number one. now you have to do your due diligence. this is a bad time to talk about this bill after ftx just pulled the plug on crypto for a few weeks but it will come back. we had the hearing, it went good. financial freedom act you have the ability to earn your money put your money where you want to put it to get the most out of it. charles: ironically i think this is the perfect

austan goolsbee. he will have a good and big take on this very issue >> he is a reasonable -- i tweeted it out too >> in terms of where inflation can ultimately go. >> he never gets back here to have dinner, but now that would be like bribing a fed official if you were to pay off the bet >> that is true. you can't do it any more than. can you buy him taco bell tacos? a couple weeks >> i know we can accept taco bell if anyone is thinking about that out there i actually tweeted had out too he said he is a great choice i have to. he is earnest and he is smart. i don't agree with him on everything and we bust each other's stones about a lot >> he is super smart >> a stone do we both own stones -- i'm referring to the actual stones, not using any pejorative but we both bust each other's chops. >> that is better. >> but i like him. and i think tait is a good choi. and a voting member next year. >> and they called him to see if he'd do the jobs panel today and he said he couldn't this time. >> didn't really

it has appointed austan goolsbee as its new president. charles evans is retiring after 15 years in charge. he has long been seen as one of the most dovish policymakers. austin goolsby is a former advisor to president obama and will start in january. he will have a vote beginning next year. the eu is said to be closing in on a deal to cap the price of russian crude oil at $60 a barrel. poland however is still pushing too hard in a sanctions package before signing off. the bloc is aiming to finalize the deal before oil sanctions kick in on monday. opec has cut crude production by the most since 2020, curbing supplies by just over one million barrels a day last month. group leader saudi arabia led the reduction with kuwait and the uae also cutting output substantially. the group is expected to keep supplies unchanged when it holds a virtual meeting on sunday. and chinese president xi jinping has called for a political solution to the war in ukraine. this during talks with the european council president. xi says that is in the best interest o

even austan goolsbee, a well-respected economist said recently that a 5% funds rate sounds good or make sense that's exec we what he said. >> we are looking at jobs as well. when it comes to markets, volatility is vanishing. we are falling to the lowest and more than three months. does that tell you there's a steady bullishness or less bearishness? >> it is interesting it seems right now almost no matter what any of the fed speakers say, they are all saying we expect to moderate the pace of hikes, but we expect to go higher, stay restrictive for longer because we are a long way from being sure that inflation is when to get under control. the markets stop, they are going to slow the pace of hikes. it's like if you tell your beloved pet, i'm to feed you now but i'm going to give you less than normal. they just hear the feed you now part then they are surprised when they only get half a bowl. the surprise might come for markets, but going into jobs, you would need something pretty extraordinary i think to really disconcert matters like a drop in the unemployment rate or a surprise bump up