. >> friends and family mourning the loss of denise cohen and bob taylor, a couple who grew up in the bay area. denise was a ray of life and bo was the nicest guy in the world, who made everyone laugh. >> we are going to have more on their stories and lives in the next half hour. you can read more by going to www.nbcbayarea.com. >>> also new this morning, in the aftermath of the tragedy in las vegas, security is, of course, a concern as san francisco prepares two outdoor events going on this week. >> the bluegrass festival and fleet week, close to 2 million people are expected in the city. pete suratos is live in san francisco with how the city is prepared. pete? >> reporter: good morning to you, marcus and laura. the two events you mentioned, the bluegrass festival and outdoor concert taking place this weekend and fleet week, which is already under way. the bigger events are at the end of the week. law enforcement agencies have an up creased emphasis in light of the las vegas mass shoot thing t took place. this is prior to the events of las vegas. the officials say they will be worki

taylor is a little bit of a wildcard. jonathan: how are you thinking about this at the moment? bobwill take jay powell because he is a moderate. i fear john taylor, kevin warsh. i really want gary cohn in their. jonathan: why would you really want gary cohn? bob: i think it is time to get in markets practitioner into the fed seat and balance the econometric models of the ivory towers with the real world we all have to deal with. jonathan: i don't the guy ever anyone talk about gary cohen for weeks. bob: i thought i would serve him in when you gave me the airtime. jonathan: marilyn, as he said around with the guys of blackrock anticipating the decision that could come any day now, how you approach a decision like this? marilyn: you have to look at the probability we are looking at what the market is pricing in. when you look it all the different candidates, a lot is known about several of them. potentially at taylor and how hawkish he will be, i think it's overplayed. when you look at the list of candidates, some on the more hawkish side, but actually it is one person that will be l

taylor is a little bit of a wildcard. jonathan: how are you thinking about this at the moment? bobwill take jay powell, because he is a moderate. i think he will be good for asset prices. i fear john taylor, kevin warsh. i would really want gary cohn in there. it does not look like he is in the race anymore. jonathan: explain to me why you would really want gary cohn. why would he be so good? bob: i think it is time to get a markets practitioner into the fed seat and balance the econometric models of the ivory towers with the real world we all have to deal with. jonathan: i don't think i have ever heard anyone talk about gary cohn becoming the fed chair for weeks. bob: i thought i would throw him in when you gave me the airtime. jonathan: marilyn, as you sit around with the guys of blackrock anticipating the decision that could come any day now, how do you approach a decision like this? have you at all? marilyn: you have to look at the probability. we are looking at what the market is pricing in. but as you mentioned, when you look it all the different candidates, a lot is known ab

taylor is a little bit of a wildcard. jonathan: how are you thinking about this at the moment? bobwill take jay powell, because he is a moderate. i think he will be good for asset prices. i hear john taylor, kevin warsh. i really want gary cohn in there. jonathan: why would you really want gary cohn? bob: i think it is time to get a markets practitioner into the fed seat and balance the econometric models of the ivory towers with the real world we all have to deal with. havehan: i don't think i ever heard anyone talk about gary cohen for weeks. bob: i thought i would serve him in when you gave me the airtime. jonathan: marilyn, as you sit around with the guys of blackrock anticipating the decision that could come any day now, how you approach a decision like this? marilyn: you have to look at the probability. we are looking at what the market is pricing in. when you look it all the different candidates, a lot is known about several of them. potentially when you look at taylor and how hawkish he will be, i think it's overplayed. when you look at the list of candidates, some on the m

taylor: senator bob corker warns that president trump could set the nation on a path to world war iiild the new york times present is treating his job like a reality show. president trump accused bob corker of being gutless for not running for reelection. senator corker said it is a shame the white house has become an adult day care center. president trump is making tough demands on immigration in exchange for letting so-called dreamers stay in the country. he wants congress to provide money for his border wall with mexico. top democrats rejected the demands. dreamers are young people brought illegally to the u.s. as children. angela merkel has cleared an obstacle on talks for forming her next government. she has exceeded to demands by allies in the very. the anti-immigration party alternative for germany won almost 13% of the vote last month. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. i am taylor riggs. this is bloomberg. david: thank you so much. we thought tax reform would be difficult before president trump decided to

taylor: public and senator bob corker warned that the present could set the world on the path to worldwed a twitter fight between the two. the president criticized him for not running for reelection. making toughmp is demands on immigration in exchange for letting so-called dreamers stay in the country. he wants congress to provide money for his border wall with mexico and to make dramatic changes to immigration policy. top democrats rejected the demands. merkel has angela cleared enough for talks on forming her next government. she has agreed to demands from for talks onaria an immigration cap. the party alternative for germany won the most 13% of the vote. up her may could shake cabinet. senior conservative party officials that made the deal with foreign secretary boris johnson who has angered many. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. i am taylor riggs. this is bloomberg. tom: great to have you back. equities, bonds, currencies, commodities now. it is a mix post jobs report. the euro advance. oil under $50 a barre

taylor: it is open were for between president trump and a senior senator of his own party, senator -- tennessee senator bobe says that president trump is leading the u.s. on a path to world war iii. house called the white and adult day care center. and president trump is making tough demands on immigration letting the so-called dreamers stay in the country. the president wants congress to provide funding for his border wall with mexico. top democrats rejected the demands. dream is our young people brought in illegally to the uss children. and a diplomatic dispute between the u.s. and turkey has escalated. --h sides have now respected have now suspended visas. erdogan's after arrested a turkish national working in a u.s. conflict in alleged involvement in the 20 16th coup -- in the 2016 coup. in germany, chancellor angela merkel has cleared an obstacle on forming her next government. to seek annual limits on migration. in the past, she has resisted demands for migration caps. the anti-immigration party alternative for germany went on a 13% of the vote in last month's election. global news 24 hours a day pow

bob shanks afford. afford. this is bloomberg. ♪ taylor: this is "bloomberg daybreak."our bloomberg business flash. it's an unpleasant start for the general electric ceo john flannery. thees are falling after company slashed its profits this year. we spoke about the company with home depot cofounder. >> this horrible situation at general electric should not have happened. they have got a mess on their hands and you're going to see it all come out when flannery bears his chest in november. taylor: g he has lost a quarter of its market value this year. procter & gamble posted a quarterly profit that was better than expected. sales came in slightly less than estimates. p&g maintained its forecast for the whole year. keepsnce, credit agricole lowering the fees that will charge for research under the new rules known as mifid. it's marketing a basic package for $50 and a premium package at .wice the amount o over the summer promoted the package for more than $140,000. the bank is not commenting. that is your bloomberg business flash. alix: well, that was a change. we were wor

bob corker accusing trump of debasing our nation. the fedso hearing about chair race, with john taylor appearing to win a senate gop straw poll. joining us to discuss is bloomberg's washington bureau chief, mr. gordon. stop all that. we have to talk about senator jeff flake's decision not to seek reelection. he has been a firebrand critic of president trump. what does it mean if he has nothing to lose, if we stacking up against the likes of john mccain, bob corker, in terms of getting policy done going forward? >> look, jeff flake has been a well-known sort of trump critic. he wrote a whole book sort of cataloging some of his concerns about the direction of the country, as we have seen with bob corker who recently announced he is not planning to run for reelection in tennessee. this may free up jeff flake to be even more critical than he has been of donald trump. he was on the senate floor moments ago, talking about how you cannot call fake news true and true news fake, and saying he is very concerned about the direction of the country. if that is a taste of what he has in store for president trump, they could be cap words com

bob, are you surprised by these two guys, the fact that it is not jay powell, but also john taylor, thesh for trump to choose? guest: i think in many respects, john is a very accomplished, practical guide, not a dogmatic -based person. uses the rules as a guide and develop them to describe the fed policy. he is the kind of person that has both experience and a reputation that would stand at well at the federal reserve, the question about that. >> jay powell has maybe the edge when it comes to regulation in the sense that he has worked in financial services and knows a lot about it and when he speaks, this is what the topic is. hand, john taylor is a republican. someone who thinks maybe there is too much regulation. do you think they might go at this different way? is that something important to trump? guest: we are losing a picture in the equation, a nomination of randy quarles, and an approval to be vice chairman of regulation. in some sense, that die has already been cast. if john was chairman, he could freely focus on monetary policy. the whole board worries about regulatory holocene

bob corker and their relationship. so let's get right to it we are going to begin with taylor who is a first year law student. senator bob corker is doing is really just a publicity stunt. why do you say that? >> i think it's a publicity stunt because it's just kind of jumping to conclusions. and, you know, in the beginning, he was on trump's side and now he is not. you have to wonder what behind the scenes has changed. just seems like he has jumped off the train for no reason. todd: let's go to syria. sierra is a student as well. she says i think the president is doing a pretty good job. why do you say that? >> i feel like he has the right motives for like our country and he is going in the right direction. and sometimes though what he says might be a little bit too much. todd: you said you are not a fan of the tweeting. >> not too much. i think it's like okay at times. but sometimes i think he needs to quiet down in certain areas. todd: understood. we are going to go over to tim. tim is the mayor of knox county and he is a very good friend of bob corker. he says, bob, have you got to stop it. >> i don't know

taylor to powell to yellow. who would you pick out of the three? bob: there's no way i'm going to get involved.will give you the answer that they are all good candidates and i have seen all the letter mentioned. the truth is that they are all good candidates. yousef: could you think is most likely to take the job? bob: i will give you the same answer on that. i will not giv get into that. the truth is that i've not spent a lot of time thinking about it because it's going to be when it's going to be. yousef: whatever happens, there will be a gradual normalization of monetary policy. do you see the fed ahead of the game, ahead of the curve? bob: i think that's a fair characterization. i was surprised early on of how long it took them to begin to equalize. i think they have been a little bit ahead of the curve now and i think that's a positive. u.s.nk the economy in the continues to the surprise us with its resiliency and its strength. i feel pretty comfortable that the fed is acting in a very appropriate way. one of the consequences of that is that we are seeing more and more interest in the u.s.

then you have kevin warsh, john taylor, two excellent people, but you have a third opening throw somebody like shelton into the mix -- >> wait, wait, wait, bobp you there let me stop you there. you just gave me goose bumps we really like dr. judy shelton because she's a hard money person you think it's possible, i know she works with the transition team for economic advice i can't even imagine how much religion they would bring to the fed with both john taylor and dr. judy shelton. so you think it's possible >> i agree i think you have two people there who would probably be willing to serve the country in this very important role and to bring, as you said, to bring financial stability to the country. not to have a federal reserve that wants to increase inflation, but to provide for stable prices, as congress calls for. >> all right, bob, we're going to have to halt there. i could talk to you for another hour we're out of time. thank you so much. carl quintanilla, back to you. >> thank you very much, rick santelli a lot more "squawk on the street" continues in just a moment duncan just protected his family with a $500,000 life insurance polic

taylor as well. dominic chu, thanks so much. >>> nick, let's go back to the budget deal. bobo tax reform. do you think mitch mcconnell and donald trump will get their tax reform. >> i think it's unlikely. this is the first step. they passed a budget framework in the senate. this congress is good at taking that first step on obamacare on different issues. they had a hard time with the next 10, 20, 30, 40 steps. i think tax reform is a lod harder than obamacare in a lot of ways. there are already signs from people like bob corker that they' they're dissatisfied with the direction it's going in. that it's budget busting, not deficit neutral. i don't think if they can't solve those problems, they'll go with the same problem they had with obamacare in their own party. >> willie, you're dashing off to work on something for sunday. what's on tap for sunday? >> my guest is dale earnhardt, junior, retiring in about five weeks. he's got five races left. the biggest name in racing. 14 times the most popular driver in nascar. i went down to talladega and spent the day with him last week.

bob mueller, coast-to-coast "bloomberg daybreak." in new york, boston, bay area, washington, houston, l.a., and then going to houston again. stay with us. this is bloomberg. ♪ taylort the bloomberg business flash. a $1 billion sale. says it will help increase its presence in europe. bad loan's landmark sale. according to people familiar with the matter, the ecb wants to know if the italian bank's price is inflated by fees that should be stripped out. no comment yet from unicredit or the ecb. in japan, more fallout from the fake products data scandal at kobe steel. they say it won't pay its dividend. kobe steel acknowledged that executives can't predict how the scandal will affect earnings in the next few months. nejra: thanks so much, taylor. 'facebooks strategy to stamp out -- facebook's strategy to stamp out fake news is not working. this comes ahead of the congressional hearings into tech companies which start tomorrow. we are joined by bloomberg tech reporter sarah free up the broke this story. what is the key takeaway here? is it that facebook is trying, but it is not enough? >> i think that is absolutely right. as facebook is trying to experiment with what m

radio, bob moon churn moscow, bloomberg data break -- bloomberg daybreak, a wonderful way to catch up on the news, including the trump administration and i must. this is bloomberg. ♪ ♪ francine: -- taylorre on the shooting block by the u.s. men's soccer team, because the americans didn't qualify for something -- fox estimates they will lose $20 million in ad sales. according to people familiar with the matter, fox news our results on the 5% of their ad inventory. 25% ofnews already sold their ad inventory. sarah global or will be replaced for hsbc.y as the ceo john flint is the new ceo. francine: thank you so much. we are winning -- awaiting jpmorgan figures. we know $19.5 billion of debt this year. huw, when you look at some of the big players, i think a lot of people want to know from .amie dimon where he stands he says he doesn't believe in their pricing. he got quite angry when they came out with earnings, jpmorgan, because he said he -- who cares about fixed income trading in the last two weeks of june?40 looking out for for the big themes on bitcoin, but trade revenues in general? >> on bitcoin, the question everyone is asking is, is bitcoin currency? is it security, or commodity

taylor: this is "bloomberg surveillance." let's get to bloomberg business flash pure u.s. regulators a looking into whether guggenheim partners in a probally steered money into business run by former barclays ceo, bob looking to dimon or his company. a londonappealed regulators decision to revoke its license and seeking more settlement talks. uber can continue to operate. the car service was banned on september 22 over safety concerns and attempts to avoid regulation. that is your bloomberg business flash. .om: taylor, thank you so much i'm going to lean over your to the uber terminal and bring up a very important aper in the journalism just the journal of economic -- the journal of economic. i'm going to lean over your. they'll be jacob frenkel of 1971. the former governor of the bank of israel. the papers that you wrote and the body of your work in chicago, are they applicable today to central banks or is it a new economics that the people -- that we talked about have to deal with? jacob: [no audio] what is important is that these statements which i'm not sure i understand now really focuses on the long-term. focuses on the fundamentals of grow in theconomy long-term. it is not budget deficit and