first is, watch bostic et al. not the only dovish person. >> obviously -- >> no, no.ction between voters and knopnonvoter. i don't think it comes to that often. watch haley, more in the center, daly, for of a wait and see attitude. if you remember, the bellwether on this, dovish people, when she flipped went hawk you are time time -- hawkish understand the fed shifted. >> and same with carr, dovish. made a switch. important distinction to mark. >> then the question becomes do they have other support? such that the chair who really seems to like to keep the committee together. remember the work i did about a few months ago showing that powell has one of the lowest percentages of dissent of any of the past -- >> when was the last dissent? >> i can't remember to. >> to your point. >> i have a list of dissents. been a while. part because in an, okay -- it's really clear what we need to do here. comes along, cut it over a while. inflation heats up. goes to 8%. need to hike. really hasn't been much -- like i said no doves in the foxhole of inflation when it comes to central

that we had raphael bostic sin we are at city restrict a place and we need to sit and wait to see how it plays out. janet, they have a good point because we have started to see softening when it comes to the u.s. consumer and when it comes to wage growth in the u.s.. we had two key stories out yesterday that really led a front end rally, one of which was walmarts, the biggest employer in the u.s.. they are cutting wages for new hires. the second one coming from the atlanta fed. they have a wage tracker, which showed a decent moderation from last month's print. it is now at a two-year low. these are good signs for the fed that a wage growth is continuing to soften and that is one thing they want to seats in order to almost claim success that inflation is heading back to the 2% target. if we get wage growth in line with the 2%. other things coming out from the market this week. we will be proceeding carefully into the fed meeting in two weeks when the market expects the fed to go on hold. jennifer: valerie, thank you so much. let's turn to goldman sachs. the financial times is reporting

the going to kind of bostic that it's independence in the 19 ninety's that was never recognized. internationally joined the last 2 or 3 years ago as a by john re clients control of large parts of the tetra, treat russia. step 10 is immediate and station peacekeepers on the border, boston medium prime minister. the co question young accuses us about john if the attempted accident cleansing of the tire treat, where the majority are armenians. he says he wants to cure it to you for the army. he is living there, but has no territorial claims. as every t v broadcast images, like these defense ministry spokesman, explain the targets on minute trade in nature. and the operation was counts, etc. at least the hospital is the time a cat treated, a number of injured people, including children as a by john has a large military budget financed by sales of natural gas. and it's also encouraged by all means these weakness, that traditional ally, russia, is distracted by the war. and ukraine must go, is displeased by all menus, decision to hold ministry drills with us troops. richard garrick rosie an american a

that will then add to concerns over sanctions. bostic i'm not possibly could put took you in a very difficult position if it's part of this deal. yeah. and before we go, i do want to return to the initial greenville. we're talking about the one between the ukraine and russia. what would happen if that deal wasn't a revive? what would it mean for the world? it was certainly, if these great deal doesn't seem to be, have any hope of reviving they will be growing pressure for possibly ukraine to some of its efforts to ex bull grain, a fruit, the back seat, irrespective of russian threats, has already created what it calls the who monetary car, though a number of ships have already started passing through the black sea, into international voltage without incident, although one case of all should be bold. i ship just outside tuckers waters is on k y. they did that. but so far above that we were crazy ships, haven't met any problems yet, but if those ex pulse continue to step up, then the fear is most co could in some way to be label mice or even possibly attack those shit. and that brings us back t

it was presented by the president of the palm bostic event in november, 2021. because this is a fully, fully ecological city that's works and it's energized by of ok. but so far, critics say that building has yet begun. this 1st bond is the same, so many the strategist behind on some of those crypto currency adoption. and now the full coming creation of bitcoin bones is the 1st one is going to be a $1000000000.00 bond. and what makes it a bit quite a bond is because it's backed by that point. so half of the $1000000000.00 will go into buying that point. the other half will go towards infrastructure, specifically building energy infrastructure as they point mining to the so called volcano bones to do so. yet, to materialize. meanwhile, president kennedy has been using government funds himself to buy big coins for the nation, announcing on twitter when and how much he's purchased. the economists have been using those tweets to look at how those trades have gone yesterday. i'm a hard on the, at the price is big going right now we're looking at a theoretical loss o

these mean that course gives bostic. is this the mean of somebody in need of anything else? i know one monday across the top of my mind you guys get distributive. that'd be my medium. plus they've been out the measures so that includes super, super, super, super. so in any states, because you're really into some i'm from the p, looking with the constitution, the gnostic, me with complexity. so like long support. suppose the eric a true to look up the same thing yet for also stick f as in know motors him live with him. but and yet i didn't isn't i see nothing. i'm easy. of course. cook officially and then it's almost a nice night. i'm just the notion of pain yet for the for the i'm going to call so we, we need some, i sick. yes, we need the above. you a to kind of nice him see what i should input problem. so it's a with the sure. but should run us a country, this process which now slide the slide by seats. so when you cross that, you'll see just snipping, we set the tools in their car, and you're supposed to say that the professors can provide it, which i'm going to get you t

tell me what do you mean yet is minute or so give bostic, is this the mean of somebody in need of anything else? i know one might need across the top of my mind, you guys can do this, that'll be my medium. plus they've been up emotions so that includes super, super, super, super sweet entities. because you're really into some i'm from the p looking with quest to show the not significant because of the so like long support. suppose eric a true to look up the same thing yet. for also stick f as in know, motors him live with him. but and yet i didn't isn't i see nothing on ease, of course. took officially and then that's almost the needs. now i'm just the noise not appearing yet for the, for the low cost. so we, we need some, i say, yes, we need the above, you a to kind of nice him see what i should input from them. so it's a, with the sure what should run us a country, this process which now slide the slide proceed. so when you say, you'll see just snipping, we're set the tools in their car, and you're supposed to say that the performance has been provided, which i'm gonna get you to swap fr

we hart that from bostic this week over concern with the policy has become too restrictive.inly see an important point to watch. i'm hopeful we will have a soft landing. i think in the short-term, the set up for the market with september being a terrible month in the market. account is volatile. all of the indices with s&p and dow and nasdaq are 5% off any 52-week highs. the set up in the short-term is we will have volatility. we could see the market move lower before it moves higher. longer term, we are in a bull market. dom, it is a stock pickers market. you have to be careful. >> lizzie evans, thank you very much. thanks for watching thwi us. right now, the futures are big. "squawk box" coming up next. see you on tuesday. plus 're free. really? healthier is getting a flu shot on your schedule. cvs. healthier happens together. >>> good morning. welcome to jobs friday. we get you ready for the august employment report and the potential reaction from the fed and market. >>> and united auto workers accusing uaw and stellantis negotiating in bad faith. details ahead. >>> and t

we have john williams, susan collins, austin from chicago, raphael bostic and under the governor will all be giving their impressions of where the economy is at right now. we have an advantage gdp number that is really hot, but we also have some calls for a recession still including bloomberg economics. we will get a lot of fed speak and get key data including things like consumer credit. that is one of the questions, will the consumer remain resilient? are those excess savings dwindling to the point where we need to get worried again? haidi: vonnie quinn with the latest on the fed drumbeat, and that will be key for asian markets. it is also a big week when it comes to central-bank policy in his part of the world. the rba meeting, and we are not expecting any surprises there. we are expecting broadly it will stay on hold as we continue to see the data start to slow in the right direction and it comes to inflation. we have inflation numbers due out today as well as a little more data out of china, those trade numbers out from china as well. sidney futures looking positive, looking to e

bostic reiterating his views that the economy is slowing and signaling the rate hiking campaign shouldrk given it does operate monetary tightening policy on a lag. williams is when we heard from exclusively a bloomberg. he said policy is in a good place but we must be data-dependent. so he says officials will really need to parse through the data. take a listen. >> we will have to keep watching the data and carefully analyzing all of that and really asking ourselves the question, is this sufficiently restrictive? do we need to maybe raise rates again to make sure that we are keeping that steady progress in terms of getting the balances, shrinking balances in the labor market and bringing inflation back down? annabelle: so yeah, a lot of fed speak on tap and it has been reinforcing that case. the moves in the dollar, that king dollar narrative is having such a big bearing on other asian effects. haidi: such a massive story. how does 170 to the dollar sound? that made me do a double take. that is what we are hearing from san torre saying the yen could weaken to 170 to the dollar. he says

. >> point out bostic was hawkish for hawk to turn to dove news worthy. >> it is interesting to see expectingded estimate, lauren simonetti going through numbers then we are getting you know expectation is the announcement rate 3.5%, lawyer when an do we have unemployment rate goes up 3.8%, in the month of august. also seeing that the actual number jobs restored or added coming in, at 187,000 that was better than the expectation, built also same as an unrevised month of july i am going to continue to look through the report those are two numbers i've got for you at the moment. >> you know average hour earnings 4.3% is year-over-year number the expectation was 4.4%, 4.3 a little bit of a tick down, 4.3%, inflation, as far as the hourly earnings .2% was a little bit weaker than expected, .3% interesting, by the way, factor jobs, i will keep going 16,000 factory jobs estimate for zero, seeing i am surprised a little bit go ahead i'm sorry. >> let's go first of all, headline when you see 187, 3.8% means people hitting bricks i want when we get back to lauren, how many people came back into labor

you could say, waller and bostic suggest that we can be both slow and/or done. where as bullard and some others would suggest if the economy remains as strong as it is, we might have to do more. how much more real risk do you think is to the upside on fed policy? >> so, you know, the short answer is i don't know. that's the rub of the fed being data dependent with the data they're dependent on in the case of inflation being lagging in nature. so, they're not all operating on a forward-looking playbook. we just, all of us, including the fed, waits for the incoming data. where there is a disconnect is not so much what they do with the september meeting, with the november meeting, we can all look at the fed watch tool on cme and see high likely hihood a pause, but the cuts priced in, that's where i think the disconnect still exists. that's what i'll be listening for when powell has the press conference is does he push back more forcefully on rate cuts being fairly aggressive in 2024 in an all else equal scenario, meaning even if disinflation continues to build in t

as the 1st president of global, who used to say, god do news, i do need to apply this out to god bostic in some cases and do not gave us the right to do to govern what we are doing to good, but god is observing us. i'm using and says have fun to wait and we'll see what was functioning. there will be a day when he will come and sanction you all the said flags that somebody decides. this statement for their voice sounds the love why did to pause actually the voice of god to god born in that no has 4 5th, it's meaningfulness. and it's wish for the companies people do companies. people dear compatriot, obviously why this payment made sense avenue allow me to express my sincere thanks for all those who have been here for came here. 1551 the dentist to take part in this ceremony. in prostate aptitude here, i have a special fund for all the governess, people in the jasper you see fit, see of them only who are we watching us from where they are, may just in boxes this young. however, i have a special thoughts here for all our compatriots who dreamed of live at this moment . you see the is on th

. >> but doesn't amal bostic the lesson that when your underlying, when the screws are tightening, you keep your couples close to the vest right? >> he's trying to raise money for him, $1 million to a guys in the hole for to the tune of multiple nadler's, with more expenses to come for an unindicted coconspirator in a case, in a codefendant in the georgia case. >> here is a trick. first of all those to. things >> what is the trick? >> you are the mob boss. you are the one thing. 0.2 is you have caused everyone to join everyone in the conspiracies of every machismo duration as you do. it's went 20 sentence someone, you want to become a made man, and so tony sends out some >> tony soprano? >> tony sense christopher to put out the hit on the cop remember that? it's exactly the same thing. once you do his bidding, you are you owe him, because he did everything he did. and it's amazing. but the third is there's trump's absolute stupidity, because there is nobody other than donald trump who is more responsible for the two impeachments that rudy giuliani. you would think he would've learned h

it was presented by the president of the phone bostic event in november, 2021. because this is a fully, fully ecological city that's work. and it's energized by a bulky, elizabeth, would sofa. critics say that building has yet begun. this 1st bond is the same. so many the strategist behind those sabbath. those crypto currency adoption announced the full coming creation of bitcoin bones. the 1st one is going to be a $1000000000.00 bond. and what makes it a bit quite a bond, just because it's backed by that point. so half of the $1000000000.00, they'll go into buying that point. the other half will go towards infrastructure, specifically building energy infrastructure as they point mining to the so called volcano bones. so yet to materialize. meanwhile, president kennedy has been using government funds himself to buy big coins for the nation, announcing on twits when and how much he's purchased. economists have been using those tweets to look at how those trades have gone study. i'm a hard on the, at the price of bit going right now. we're looking at a theoretical

the department of education says that the supreme court's decision in bostic versus clayton county means it can pretend that title ix addresses gender identity, but the department of education is wrong . in bostic, the supreme court said that title vii of the civil rights act prohibits employers from firing someone just because they are transgender. the decision says that an employee sexes not relevant to the selection, evaluation, or compensation of employees. athletics and education, however, is governed by a different law, title ix. when it comes to athletics, sex is not only relevant, it is often dispositive. as superstar serena williams said, men's and women's tennis are completely different sports. we live in a nation of laws and not bureaucratic command. that means the department of education must find its authorities in the laws that this legislative body has considered and passed. it may not use gender ideology to twist a simple anti discrimination statute into a statute that reduces opportunities for women. thank you. >> thank you. mr. mintor. now you may begin. >> thank you. m

tom: bostic speaking in cape town. a shakedown about to happen on debt in u.s.that speaks to commercial real estate as well. saying on the jobs report we will see in two hours, sarah house joins us now, senior economist at wells fargo. i was doing the math here at 150 million which is -- how predictable are these numbers this morning? do you have a feeling you got your handle on or is it just a complete mystery giving the jungle of the american economy? sarah: payrolls are difficult to predict. bls says they only have a 90% confidence interval that whichever number they print will be from that number. but i think we will see -- we do feel confident that trent is slowing. i think we see that from a range of labor market data so not only the openings data we saw this morning, but i think also consumers on view that they're not so many jobs out there with that labor differential coming down. we are seeing it in purchasing manager indices, not just ism, but regional fed once showing the pace of hiring has slowed. getting that nonfarm payrolls number within 10,000 or

along with williams from new york and bostic from atlanta.as and bowman from the board of governors. busy day thursday. michael barr from the federal reserve board on friday. waller's more dovish tone with the comments powell made at jackson hole set a marker for the committee. we're doing nothing in september. it's a default position. the fed will figure out what to do in november when it gets there. waller sounding more dove ir, guys, on that score. >> everybody has to get their opinion in before the blackout period, i guess, on saturday. so the question mark is around november now, and just how much of an inflation may be -- i'm looking at oil prices. brent back to 90s on news from opec continuing their cuts on production. the dollar stronger again. i wonder what it would take on the inflation front to put november squarely back on the table? >> well, i think the clear thing would be those higher oil prices bleeding into the core prices of the p kreshgs e and cpi. if those go up and it looks like there's a generalized increase -- waller, t

bostic gdp now . straight quarters of the nation is like really?gdp, people who capture the data say it is not account for certain factors and probably bring in significantly down. i was speaking with a number of people doing this on the. if you look at qualitative data, it is painting a similar picture as quantitative data. things are slowing, but not breaking. what do you do with that? how do you nuance message at a time when there is not a clear angle to take? there's not a clear risk. jonathan: speaking to people that conduct the eu -- university of michigan survey? lisa: abba speaking to people close to the fed. jonathan: your friends? trying to work out who bramo has been hanging out with in new york. was this the u.s. open? lisa: i was not at fashion week, were you? jonathan: i was not at fashion week. can we move on. that was a good comeback. tom: brent crude, $90.43. when you debrief -- we need a brief here. how tenuous is the path from $90 brent to $100 brent? >> i would say mostly stable from here. i did not mean there were not be volati

mentioning this, feds become a philadelphia feds patrick harker, the chicago fed president, raphael bosticare trying to pick a new fed president and michael mckee in the spotlight figure. other than tom keene talking will be john williams of the new york fed today at 3 p.m.. tom: this is such an eclectic brew. the bank of england even go with foreign members but all of those names you mentioned have all radically different backgrounds. i think it is cool. lisa: and they all, and say we don't want to commit to anything and we have no guidance but we are going to signal hawkish maybe but maybe also dovish. then we get president biden leaving for the g20 meetings in new delhi. apple is sort of interesting, you were talking about this earlier, are they front and center in these discussions as the u.s. tries to cozy up to india as tensions increase with xi jinping not attending the new delhi summit. jonathan: plenty of meetings to pay attention to including the saudis. a couple times a last day or two, looking forward to all of that. joining us visit chief global strategist at printable asset m

federal reserve president raphael bostic, among others, that the fed has a role to play in addressing racial economic inequality as it carries out its work until congress passes this bill. what steps will the fed, can you take to address racial and economic inequality? >> so we, we do consider inequality in the economy as part of our thinking about decisions, but ultimately, and, and those are, those are certainly highly valuable social goals to pursue, i would say our ability to take part in addressing those issues is fairly limited. we have one federal interest rate that we set. we do try to keep in mind, as you know, not just the aggregate national level of unemployment or employment, but also that for different ethnic groups. so we take that into account. but i would think, and i think that's, that's just part of making sure that we feel like we have all-americans in the room with us when we're making decisions on monetary policy. i will say, though, i think other agencies are better suited to address these, these deep issues. >> thank you. we must have this continued discussion o