bostic may be implying we are not there yet.n stanley says even if we see a faster taper that does not meet we will see rate hikes immediately, still sticking to rate hikes in 2023 comment a longer period between the two. guy: the clump is probably around the beginning of the summer next year. that seems to be where most houses are now migrating. pushing out to 2023 looks like an outlier. some suggest march could be a possibility. that looks a little early judging by some of the conversations i've been listening to. alix: it in some way echoes what raphael bostic is saying. we want to finish the taper before doing anything on rates and it is in the fed's interest to wrap up the taper. still slow and steady on rates. i'm trying to connect the dots and it feels like maybe that does not fly. a bigger cushion. guy: some people are suggesting you want to frontload it deal with the inflation narrative so you do not have to push the terminal rates too high, you go early and aggressive and you do not end up with a sharp pop to the cycle

bostic or norma? know? might she lives into shaka? circle board, ma'am? yeah. please. sure, i can guarantee for so i'm clear on supersport the don't mean she's for school on dish pri, alone can go walk soon. look at the course of the center of the composite journey. gone along. shore. be up to you in the fish all us the brochure just drawn. oh god. what if you did? well. i had a big oh good looking. i'm out. looking from below my list. it's good b also work. yeah. it's okay. yeah. it's the real quick. i think i'm with with with the school my offer to put this on the school. okay. jim, that's on hello . i love the news of it and i saw a boy jen, and i say neighbors. so we would sit no, dear, i say, good night. and we're gonna go when i just you will shape it. and i thought i did it that i did. she didn't know i nimbly little lee about that you get that you get a better a delayed by the did it was good or you know, such as i'm i'm good, good. he only had 23. how did it in that she can read you the and i says yeah, are glad to take in. i was with the dog did. and when did

show me, would you be nearly dish bostic, norma? no much. she lives into shaka. the we're bored mom. yeah. for place. sure, i'm going calling you for so i'm clear. supersport the don't mean she's for school on dish pain. alone can go walk soon. look in the course of the center on the symbol, the jersey on guard along shore. be up to you in the fish all us the brochure to sean. me god, what you had to be okay. okay. now i'm going from b b. i also work yes. okay. real quick. i think i've run with with okay, cool my office and put this on the floor. okay, i'm back on it. oh i know i'm up the news of it a sew sewer the soon soon suits it. no. do she rude? no, no. and we're going over and i just you will shape it would gun. i even know no brain has this in the 3rd. i don't have that. i did. she didn't know me. m let it go. yeah. nimbly. oh, clear that that you get that live? yeah. i better a delayed by the did it was gone. or you know, that is on the line. good. good. very. although no one we have done pretty bad 3. how did it in that you can read you think that it is

it it does show me, would you be me with dish bostic or norma? no. might she lives in dish her circle board mom. yes. please. sure. oh good. good you for. so i'm clear on supersport the don't mean she's fresh school, anticipate alone can go walk soon. look at the course of the center on the symbols journey. gone along. shore be up to you in the fish on the brochure much than just drawn oh god. what in that you did when i had a big oh good with it's good. b also work? yes. okay. yeah, it's the real quick. i think i'm with with one offer to focus on school. okay. mm hm. that's on i know i love the news of it and i saw a via gen with the food food food suits it. no, dear, she good money. and we're gonna feel really nice. just to shape it and i thought i'd this in a that i did. she didn't know when to go. yeah. namely they oh, clear that that you get that she knew? yeah. i back a delayed by the did it was gone. or, you know, such as i'm, i'm good, good. the although no one we have done it, but i did it in that you can read. you think that it is you are g

um would you be me with dish bostic or norma? no much. she lives into shaka. circle board, mom. yeah. please. sure . oh good calling you for. so i'm going to push the domains for school on dish. pre alone can go walk in and look at the course of the center of the symposium jersey on guard and i'm sure be up in the fish on the brochure. just drawn me oh god. what in that you had to be okay, now moving from b. it will be also work. yes. okay. yeah. the real quick. i think i'm with with offer to put this on for okay jim back on it. oh, i know i love the news of it. a sew sewer the food service suits it. no. do she road? no, no and for connie don't read us just to shape it gun. i england, nanette already has this in the 3rd. i don't have that. i did. she didn't know when to go. yeah. namely they all clear that that you get that live. yeah. i better a delayed by the did it was gone or you know, such is i'm i'm good, good very. although no one we have done i did it in that you can read to you think that it is you are glad to take it. i was with the dog did and what the did did yet the

you look at raphael bostic and sarah bloom raskin, and what i liked what anna wong said is not only theiversity of skin color but the diversity of views, in terms of where they were getting their phd's. romaine: they have talked a lot about this. i saw a stat about the number of folks with degrees. not specifically harvard. kailey: i don't think any of us counted that. romaine: don't worry, there is no risk of any of us getting picked for that role. our next guest has written a lot about the complexities of financial markets and regulation. she has some great insights so let's bring her into the conversation, the professor of law at the columbia law school specializing in financial regulation. let's talk about the idea of diversity of ideas. when you look at the fed, the structure that it has been, hasn't really been homogenous in thought? kathryn: yes and no. there is a degree of homogeneity across central banks. for a long time, it has been a technocratic institution and that means there is a narrowness of thinking. the fed has a unique structure with the federal reserve board goes th

attorney john bostic said holmes deliberately painted a false picture of the company to investors andsperate for theranos to succeed, willing to do anything the disease that plagued theranos wasn't a lack of effort, it was a lack of honesty, bostic offered. that started at the top. the top being elizabeth holmes so judge edward davila, as i said, is instructing the jury. he is probably about 2/3 of the way through that and what we don't know yet is whether he will have the jury startdeliberating tonight. it's going on 5:00 p.m. pacific time here. so we'll see whether they get it tonight. or they start up on monday they have a lot to go through. and shep, one of the things that we were looking for in these instructions was how the judge would instruct them on that issue of of intent the government clearly wanted a more broad view of what that constitutes. and in many ways, not in all ways but in many ways the judge did decide with the government in that very crucial instruction. >> scott, once the jury does get this case what's the buzz about how long this may take there's a lot there.

before him, even refiled bostic from the atlanta fed -- refiled bostic from the atlanta fed -- beforebostick from the atlanta fed. >> i certainly would be supportive of a community decision to move the taper forward from where people had been expecting it, in june. kathleen: but you see, he also is throwing this in, the speed of the rate hikes. that is how randal quarles is moving the ball down the road. others are open to it. laverna master said she can see the possibility of two rate hikes. that is why jobs are so important. that is very important for the fed, to see strong jobs and say, we will speed up the taper in three weeks. juliette: not long until we look at those payroll numbers. global economics and policy editor kathleen hays with us in new york. that's get more with our guest, vikas pershad, portfolio manager at maga investments. a faster reduction of stimulus from the fed as kathleen is looking into the jobs aspect, too,, and then last week, the new omicron variant. vikas: so i have two things to say about that. number one, there is not a place in our portfolio where the

bostic joining us on our fed coverage this afternoon on the equity market reaction to the emphasis takenthe press conference. chief economist at the conference. what's important is our other guests focus on the unique skills of the conference board while measuring american economic dynamics. this is such an important conversation on the ability to sustain economic growth. what is the call you have 12 months forward on real gdp. >> we are thinking we are following around 3.5% this year. -- next year. we could potentially see growth around 4%. >> we will have six, 7% top line gdp. what is that due to the conference board in america. >> certainly that would be positive if a lot of that was driven by consumption. we are anticipating hopefully next year much of the services activity will return to pre-pandemic levels. that's really going to be highly dependent upon the people of the pandemic, whether or not people are vaccinated, people feel comfortable getting out there and going on trips, traveling, visiting restaurants, hotels, etc.. lisa: in about an hour we will get those retail sales. w

prosecutor jon bostic gave the final rebuttal for the u. s attorney's office. he attacked all of the defence's claims throughout the case. pointing out evidence that there are no series analyzers were plagued with problems from the beginning , and holmes knew about it of homes, he said. quote we see a ceo of a company who was so desperate for the company to succeed and so afraid of failure. that she was willing to do anything to keep it from failing. the jury will begin its first full day of deliberation right here on monday. if necessary, they'll take a break over christmas eve. and get right back to it going into the new year. at the federal courthouse in san jose evan sernoffsky ktvu, fox two news, california cannabis companies say the state's illegal pot industry is on the verge of collapse. more than two dozen industry leaders signed a letter telling governor gavin newsom. the taxes and regulations have made the industry unable to compete with the illegal pot economy. they want the governor to put an immediate end to the cultivation tax placed on growers.

prosecutor jon bostic gave the final rebuttal for the u. s attorney's office. throughout the case. pointing out evidence that theranos is analyzers were plagued with problems from the beginning, and holmes knew about it of homes, he said. quote we see a ceo of a company who was so desperate for the company to succeed. and so afraid of failure that she was willing to do anything to keep it from failing. the jury will begin its first full day of deliberation right here on monday. if necessary, they'll take a break over christmas eve. and get right back to it going into the new year. at the federal courthouse in san jose evan sernoffsky ktvu, fox two news. the final environmental impact report for the oakland a's proposed ballpark at how we're terminal has been released . it outlined some of the issues that will need to be resolved in order to build the new ballpark. the 3500 page report details how the development will manage issues such as rail safety, parking pollution and increased traffic. oakland mayor libby schaaf says the completion of the e i r. keeps the

prosecutor jon bostic gave the final rebuttal for the u. s attorney's office.all of the defence's claims throughout the case. pointing out evidence that there are no series analyzers were plagued with problems from the beginning , and holmes knew about it of homes, he said. quote we see a ceo of a company who was so desperate for the company to succeed. and so afraid of failure that she was willing to do anything to keep it from failing. the jury will begin its first full day of deliberation right here on monday. if necessary, they'll take a break over christmas eve. and get right back to it going into the new year. at the federal courthouse in san jose evan sernoffsky ktvu, fox two news. cameras captured images of him attacking police officers. now he faces the longest prison sentence we've seen in connection with the january breach of the u. s. capitol coming up his reaction to today's sentencing. and see how tomorrow's premiere of a new matrix movie in san francisco is taking over streets near the castro theater. there's a different way to treat hiv. it's on

the bostic family back at it again.ust take a listen to the sounds of the siberian orchestra. ♪ ♪ >> does this get you in the mood or what? >> this is my favorite christmas song. i love this song. >> it's the only one he likes. let's be honest. >> there's one other, but this is my favorite. >> put that on the playlist for you today. >> yes, love it. >> and we got a bonus "play of the day" for you. this one across the pond. heading to hogwarts it looks like. this is the train of lights near the english channel. lots going on there. look at that. that seems like a lot of work. to light up a train. >> it's beautiful. thank you for that, getting us in the christmas spirit. >> of course. >>> coming up, how about this for a christmas present? lily collins joining us live. stay with us. >>> "gma's" concert series is sponsored by the love your car guarantee from carmax. night. every night. i live alone, but i still do it every night. right after dinner. definitely after meatloaf. like clockwork. do it! run your dishwasher with

question is, will you ask it when i was looking up fed speak earlier today, a couple things, rafael bosticll in favor of a faster taper. mary daly, fed president one of the biggest doves on the committee. she said she could see a talk about thinking about a faster taper. before that, clara, the vice chair and others on the committee were moving that way the only person who hadn't spoken was powell h he had not spoken since november 1st and 2nd. so he was quiet until yesterday. that's why there was this big surprise if you were paying attention to what fed officials were saying i feel pretty good we reported this in a pretty strong way that the fed tore center ought committee, especially when doves like daly move to that center and say, you know what, we're in favor of a faster taper. that was the drift of the policy committee. >> i'm looking tatrotation for the members in 2022. it will be new york, cleveland, boston, st. louis, kansas city that's not exactly a dovish bunch. >> right that itself perfect observation, becky. you get cleveland on there, you get estra george on there from kansa

said transitory so you've got to put a dollar in the swear jar, as atlanta fed president raphael bosticon watch for three rate hikes next year. the fed is calling for inflation in the fives this year in the mid-twos next year but what happens if inflation is lower on the opposite end of the argument that you're making? and what happens if growth starts to slow down in 2023? is it three and done >> okay. so, i'll take the latter first if you get a slower growth environment and also a slower inflation market, i think the bond market is close to fairly price. when i say bonds i'm talking about treasuries here. the treasury market looks grossly overvalued yields are way too low for the type of growth we've seen as well as the inflationary environment that we are in the middle of contemporaneously. we also think that potentially next month when you get the next inflation print, it'll end up being 7% because you have a number rolling off in the december of 2020 that rolls off. it was about a 24-basis-point increase in inflation. so that rolls off. so if you get something in the 40 or 50%, i'm

i'm tim sinovac along with kri ti gupta and roman bostic. u.s.re. let's bring in john edwards, who leads bloomberg's u.s. consumer coverage from massachusetts. since the summer, executives at major retailers have been on our air and saying that by early - saying buy early and often, i wonder how much that wasn't resonating led to the increase in sales that we've seen already. >> i think that message did get through loud and clear. consumers really responded. they did push sales up a little further forward into the holiday shopping season. in part because they were urged to, given the supply chain constraints that were out there. that seems to have paid off. retailers saw continued strength right through the season. i think moving forward -- the moving forward of sales mitigated the supply chain issues and help keep the shelves relatively soft. romaine: these numbers are not only good on a year-over-year basis, but when you compare them to those pre-pandemic levels in 2019, still pretty impressive -- 20% pretty much across the board. i'm curious a

treasury undersecretary , cecilia rouse is also being looked out, raphael bostic, president of the atlantathose are some of the names they've looked at. then there is lisa cook, an economist at michigan state. there is a strong slate of candidates they could pick from and there are likely -- they are likely to be more dovish than the people they replace. so the two outgoing governors, though one does not go till the end of january. they were trump appointees, he picked them, and while you would not call them rapidly hawkish by any means, they have been very measured. the incoming governors are probably going to be more dovish. kriti: you've built your career reporting on central banks from iraq all the way to the ecb and the fed. >> behind the bank of england in that sense, but the fed is not leading the way. it's going to be really interesting. the fed being ahead of the ecb is going to have some interesting implications for the dollar that could reverberate to the u.s. economy and that could be come -- become a factor. markets are not really price for an aggressive fed. that was raised a