we just heard rafael bostic saying he backed i rafael bostic saying he backed the half—point cut andthank you very much. to the chip—maker intel now as rumours grow over potential takeover bids. they were widespread reports last week of an approach by the tech giant qualcomm and reports over the weekend from bloomberg of a multibillion—dollar investment approach from apollo global management. intel has so far declined to comment. around since the 1960s, intel is one of the worlds biggest chip—makers, but it's been going through a rocky period with its share price falling by nearly 60% this year alone. chief expert malcolm penn explained some of the pressures intel faces. this really is a riches to rags saga — this really is a riches to rags saga it_ this really is a riches to rags saga. it started a few years ago — saga. it started a few years ago when intel lost their technological leadership and handed over that pattern to tsmc — handed over that pattern to tsmc and allow them to steam ahead — tsmc and allow them to steam ahead from the technology. if you lose — ahead from the tech

trades were made through bostic through third-party investment managers during periods when the fedould issue decisions around interest rates the ig adds it found no evidence bostic profited from inside information, dom >> silvana henao with the latest there. thank you. >>> to a developing story and watching the energy sector higher again this morning after its best day in two weeks. you can see u.s. benchmark crude rebounding a bit $68.01 ice brent crude is $71.36. up 1% as well. this as hurricane francine continues to pummel oil infrastructure in the gulf of mexico region after making l landfall last night as a c category 2 storm customers across the gulf coast are now without power. oil and gas companies in the gulf responsible for 15% of all u.s. crude output were forced to shutdown production. we will continue to monitor francine and the energy prices throughout the course of this morning. >>> also breaking this morning, we showed you the launch live here on tuesday morning and now live pictures of spacex crew dragon capsule we are hours away from the first spacewalk for the po

market action and we'll hear from jay powell later this hour, by the way in the meantime, rafael bosticents ago said he's open to a half-point cut if the labor market remains weak. dom chu, how are markets taking that? >> the markets are taking it relatively in stride. we're off the best levels of the session, but we're off the worst one, as well. in fact, we're pretty much flat for the major s&p 500 broader measure. again, down one point amid those comments and other comments by some fed speakers. the nasdaq composite is marginally positive, just about flat again, only up 11 points to 18,130. the s&p 500 is at 5736, pretty much flat, just down two points. we were only up five points at the highs of the session and down 14 points at the low. the dow industrials is the real underperformer down .25%, and it's good for 125 points to the down side. another place to keep a close eye on that's not been doing anything modest at all these days has been the chinese market. the shanghai composite index, that broader index, is up 8%. its best one-day gain in roughly 16 years at this point. the she

we've seen a long list of jewish and jewish is really, individuals being publicly land bostic to now.

finding that bostic was nevertheless responsible for ensuring the trades complied with the rules theance of interest the investigation is now closed, and they're referring this matter to the board for any further action >> quickly, steve, on this, is he a current voting member does this affect anything about the composition, the vote, the make of next week's decision or the near term? >> i don't believe so. i'm just double checking that. i should have checked that before i got on. i don't believe le is a voteser this year, but it dison what the board does it depends on what the board does. >> have there been historical correlates here? >> i don't know of another case like this, tyler i think there's still open investigations against robert kaplan there was a similar issue with eric rosengran, but he had already left the board at that time. >> he is a voting members there year >> interesting he'll be at the center of all the activity next week >>> after the break, we're going to dive into the inflation data, because, why not how prices have changed for everything, maybe more particula

at least rafael bostic of the atlanta fed says is up into another 50 basis point rate cut if the labor market shows unexpected weakness, that said what are you buying? >> interesting, the way we've been looking at it at discussing with the huntington team we've been focusing on the broadening out and a lot of the focus over the last 12 - 18 months has been the magnificent seven names and if we get into the earnings story were getting into q3 earnings susan quickly there are companies in the broadening idea that you can participate in, if you want to look at some of the tech names that are not magnificent seven you have an arrested network digital reality where you can operate in technology and real estate at the same time and get a good dividend, there are opportunities out there, you have to look for what we like to look for and that is quality balance sheet quality companies with a competitive advantage and we think the earnings will come through with a lot of the companies i'm not hearing you talk about china don't fight the fed in china you would've either fed with a central banker

atlanta fed president bostic and san francisco fed chief mary daly have joined the chorus of fed voicesalling for a rate cut with the danger of employment levels with policy is held at current restrictive levels, but both sounded a note of caution on the speed of loosening with bostic saying he is not quite prepared to call victory and daly said confidence has not yet been restored. > the count ydown is on for the friday payroll report. it isn't the only data point we get before the week is out. initial weekly jobless claims are expected to show a downtick to 237,000 and august adp payroll data coming in at 140,000. abby watt, u.s. economist with u.s. bank, has slipped into the chair next to me. abby, thank you for joining us. the data is all everybody is focusing on. the fed said they need to be data dependent. the beige book was out. we have the jobs report coming through. even just the adp numbers could be ones that shock the market. how exactly do we read this data right now? is it all over the place still or is it now showing clear signs of that weakness? i like to call it normaliz

information in the appearance of a conflict of interest, then calling his impartiality into question, bosticanagers and had no ability to direct trades, they have been turned over to the federal reserve board for any further action that they deem appropriate, justin timberlake dodging drunk driving charges he was arrested in sag harbor new york in the hamptons in june after driving through a stop sign in failing to keep on the right side of the road, that is the video he refused the breathalyzer and was charged with driving while toxic aided but now the singer has reached a plea deal agreed to plead guilty to a much lesser charge and he will pay a fine between $30500 determined tomorrow by the judge, justin timberlake has repeatedly denied that he was drunk at the time of his arrest saying he only had one martini, stop at the wrist there and happening now this is amazing spacex polaris don, the crew beginning the first-ever private spacewalk the four-person team outside of the capsule into the vast expanse of minutes, team members are currently venting the cabin to match the pressure, the sp

however, up here flex. fashion is all a module and jo stories, our currency, bostic, my, the area we have phone calls from germany and the craziest place all across to this one here is this all dictated from albania, that officially, that breakfast grad once you're sorry. and we try to figure out why we feel such a strong emotional, only with this machine. just story. so ideas can cost by itself in millions and millions. the news that com and most of all the fact that makes us better this video make me add that to love. so cool to watch. keep going. well, thank you for the question is now flash. if we go next, right to wherever your sentence, your stories and your crazy car into the let's catch up soon. sunroof the was when the one that goes on top of the road, driving the beverly hills, or maybe i'm going to drive it to the 2nd drive on anything i really liked one of the smaller both those and then put the boss of the higher on out of 3 by 500 to my one is remaining. 2300. yeah. the the, the, how did you know my car? yeah. mirror drive on the very. i was just like one of my the drug

we've seen a long list of jewish and jewish is really, individuals being publicly land. bostic denounced the platform stigmatized. palestinian artists also see themselves in a tiny corner. i said at the beginning of the world trapped in my own space. what i'd see if i can look and see what i think or feel, purchase around the world have deep divisions. the cultural same has become a system as the political climate, the lloyd to the varden and the people on all sides. you're carrying very deep wounds. awful. i didn't die so, so that can be no dying old school. the starting at 6 30 am on october 7th from us 5 more than 3000 real good cities around in a deadly surprise attack. that was just the beginning. the so wish to what do you is i can't get to know child to the are all kids up for if that was mine all the while we waited 2 or 3 hours to find out just how big a catastrophe won't hotmail 5. and the goal is pick up the phone with this, the so to me, defend bill. and since then we have been in the 7th of october for sites. and if you ask is riley's today what day is it? it's still the 7th

conflict will be decided to negotiate. resolve that association tables, best intuitive must realize bostic tunnel we on the bottom see time is of the essence, especially with winter on its way. the quickest way to end this war is to provide the weapons to ukraine. we must all stuff up our support and portfolio also coming up there, part of modern warfare and espionage, but drones also have a positive role to play in our lives tonight. a report on the good draw. i'm completely blown away so it's a hypnotized thing separately. it's more original and makes more shapes. it's a change for to our viewers watching on p b. as in the united states, as of all of you around the world. welcome. we begin today with the president who will not give up ukraine's president ultimate zalinski has once again urged allies to allow his country to use western weapons to attack deep inside russia. on fridays, zalinski spoke at rom, stein airbase. here in germany, where representatives from some 50 countries gathered for talks that were hosted by us defense secretary lloyd austin lensky later met with german trans

what i knew in particular was the bostic, i thought brushing us to slackness at all the allies who was interested, the less you know, no, it couldn't be like a wonderful guardian, but not a good spot in the queue shuttles this legal model for it. the for me in there yet on the do you have no groceries of the so again, it's you called on monday because he already because you're working of the 3 by the bed to go to, you know, not going, but the only other issue there. so that is that, that was all can i think though it yet original 0 a this out that we want to save the issue that a recording. i'm a should go over my to february must go freaking out a month. the, there's good go, the that's the price. and then they, they had to see it by itself, but i always get that place i hi this i, i really kind of goes to the normal point. oh, really cut out of the, you know, we have somebody on the bus so this is stuck to so pro, a real, a sick the centralink is in school, said animal or if the amount of bill allows us to some tool, they would have to sell it them them a problem or, or to do over i

so visual stuff, bostic, they show what to do. things all check able to just take it, taking a board or the single wire near from the else. nope. so don't ignore me on this is showing them money, say plus good. the money on this indeed the problem a lot for me because you know, i love was only opened the car. so some people getting on the bus, getting onto this old one year on the line. and we'll follow along on the road s nicole and it shows about a new kind of your digital bundle like somebody. but i mean with the name of it can be slight, i've only been audited it like i can just wanting to alex, let me notate it. okay. along with data on the, on the move on my lease. if the money does nothing same, let me. uh, give us 100 new v dash the last week. total of putting it for last 4. see it the same. mm hm. yeah. not a nice short move. it's best for the best one. to hello is this. a shipping is a side to fit goods and these are the painted. the 1st all set to level the most phones aren't under lock, continue is papers for tim delux

be decided to go shape. resolve that a goal, she ation tables, press them tooth and must realize bostic tunnel reading on the back and see time is of the essence, especially with winter on its way. the quickest way to end this war is to provide the weapons to ukraine. we must all stuff up our support and quickly also coming up there, part of modern warfare and espionage, but drones also have a positive role to play in our lives to 9 day report on the good draw. i'm completely blown away, so it's a hypnotizing separately. it's more original and makes more shapes. it's a change for to our viewers watching on p b as in the united states into all of you around the world. welcome. we begin today with the president who will not give up ukraine's president ultimate zalinski has once again urged allies to allow his country to use western weapons to attack deep inside russia. on fridays, the lensky spoke at rum stein airbase, here in germany, where representatives from some 50 countries gathered for talks that were hosted by us defense secretary lloyd austin lensky. later met with german chancel

what our new in particular was bostic i thought pushing us to slackness at all the as it was understood, the less you know. no, no, it couldn't be like a wonderful garden for dr. correspondent, the shut off to sleep with the full army and there, you know, do you have no groceries of the? so again, it's you called on monday because you see how that are going to show up in the 3 bible pedagogy. and i'm not going to go any other issue there. so that is that, that was all. can i think though it yet, could you original 0 at the set that camino de la, save the heat at a recording. i miss dot or mike, february must forego a 2nd already metallic events clicked on the the price i seen in the read this here by itself. but why does the escape this place? i hi, this i i really kind of this is amanda normal good portal. really cut out of the pos, i'm feeling a pause, so this is stuck to so pro, a real, a good deal. us intelligence, cool, set animal. the amount of bill allows us to something sure. bear with ellis spell it them never problem a or to go over i or to say something. you want that other s

what are new in particular was bostic i thought pushing us as lagging a set of total as it was understood, the less you know, no, no, it could be like a wonderful guardian, but not a good spot in the queue shuttles this legal model for it. the for me and there, you know, do you have not mostly it's of the so again, it's you called on monday because you see how that are going to show up in the 3 bible pedagogy and i'm not going to go any other issue there. so that is that, that was all can i think though it yet, cuz they originally see where the subject to me what the process the issue that they are going to miss dot go over to mike, february must forego affect our him at the very good go the the price by sitting in the bed here by a bunch of these get that place i hi this i i really kind of those to the normal good point. oh, really cut out of the no, yes, i'm feeling a pause so this is stuck to so pro a real a the sick the sit down and then school set animal. the bill allows us to something sure. bear with others. tell it them. never problem a or to go over i or to the face to face of th

i'll send the money i'm trying to know by team so, so visual stuff bostic to show what the things all check able to just take it, taking a board or do you see why you're through now from the house? looks you don't enrollment on. this is joining money. so your boss get the money on this indeed the bottom, i'm a little community castillo. i love. nope. there's only one week i shall. some people do not bus getting onto this old one yet. on the line. we will follow along on a little s nicole and it shows about a little panel here. these are bundling somebody, but i mean with the name of it can be slight. i've only been audited it like i can just wanting to alex. so let me notate it ok along with data on the, on the interval monday in money. does that any sam? i mean, the device 100 new visa should be last week total. i'm putting in for last full said this thing. mm hm. and not a nice short move. it's best phone test on. hello denise, this shipment is a side config goods and these are the pain that the 1st all need to level from a song is on turn. the lock on to me. it is what the papers f

now in the most western part of the country. cleaning the right region are heading out to sea, 40 bostic fleet. now, to show us what they are capable of the, the massive drills are being held simultaneously in the pacific and arsic ocean. the mediterranean gas being involved exceeds $400.00 bad thoughts of different types and sizes. as well as over 120. there is 890000 personnel submarines like this one play a special role in modern navy warfare, diesel electric bower. they're small and more importantly, they're quiet. could be quite sneaky through the land. this is the simulation on the floor and why the only way during these drills, the russian army has performed missile strikes against tract enemy, tactical groups, as well as precision guided weapons strikes against critical enemy facilities on shore. a special naval mind counter measures group has also performed positioning a mind barrier. the ultimate sports agent goal will fit drills is to work out our for the various fleets and the commands would work together and coordinates to deter any possible threats coming from outside, both

what are new political laws, luca bostic got that brushing us just lagging a settled total as it was understood, the less you know. no, no, it couldn't be like a wonderful garden by the spot in the queue shuttles. just leave off with the for me and there. yeah. the do you have no groceries of the so again it's, he called him only because he already had a good view of the of the 3 by the pedagogy. and i'm not going to go into the show there. so that is that, that was awesome. can i think though, it yet? cuz they are watching a video of this up at camino de la save. the issue that they are recording i'm is or my favorite are my forego effect and i'm at the very good feeling the the price i seen in the lead to soon bye, a bunch wiley's get that place by hi this i i really kind of goes to the normal point, oh, really cut out of the pos of the bus. so this is stuck to so pro, a real difficult on the centralink is in school sample. the bill allows us to, so i'm sure they would have to sell it them and they have a problem, a fortune to over i or to the face to face of the on that other soun

i'll send the money on find a new home by 10 so, so visual stuff bostic to show what to do. things all check able to just take it, taking a board or do you see why you entered in there? for me, else develops you don't enrollment on this is showing them money. say plus good. the money on this indeed, the problem a lot for me make us feel a lot. nope. was only important because you know, some people do not bus. getting onto this old one year on the line, and we'll follow along on the road s nicole initials about a new kind of your dish, bundled legs on the bumper, i mean as on and then obviously, so like i've only been, i think it's like i can just wanting to alex, let me know, date it okay. along with date on, on the move of my lease. if the money does nothing, the same money. uh, device, 100 new visa should be last week. total of putting your 4 last to see it the same. mm. hm, yeah. not a nice short move. it's best for the strong. no. hello, denise, this shipment is a side to fit group. and these are the pain that the 1st all new to level the songs on sunday. like going to n

how appropriate bostic is that as well independent investigations are things you conduct against enemies and adversaries when it comes to allies and proxy regimes like is real. you don't conduct a independent investigations as you've heard state department of lighthouse spokespersons. and it's been saying now for over a year, you know, it is israel's responsibility to investigate itself and we will accept the outcomes of those investigations and move on. and then the next time an american citizen is tortured or murdered. you know, we'll go through the same play, but i think there's also a broader issue here as, as you know, the international court of justice and the hague. a few months ago issued an advisory opinion, which, which deemed the israeli occupation and legal and unlawful and legit at the end. it is precisely because of things like this. you know, the order to close just eat as offices did not refer to the westbank. it referred to today and scenario of israel has renamed the territory. and this is why it's so urgent to confront these really occupation. and as the un general ass

campuses, we will launch catching edge engineering schools to such schools and cycling and logic. bostic have already been set top them as not just to train specialists for the industry and agriculture transport and social sphere mindfully a. i mean, they also meant to come up with an original ent of solutions for scaling new solutions and social sphere and management. and, and economy was, guidelines has uh, been hosting the and scientific and technical center of those hydro for the last 2 years and specializes. and then every day of the solutions and global energy, which i used to for the technological upgrade of the energy sector in the russian far east. however, leading companies will also help build a big any which is technological approach on rosky island, based on the virus and federal universities. and it will concentrate upon research and practical solutions in marine engineering biotechnology, by magazine, and other promising avenues to be pursued. i would like to ask the governments from the government and from the most q region do is use and the tour of a fibrous and concessi

well, russian forces are pushing the offensive in don't bostic assessments off the settlements with the key logistical ha, that's across now within range. i'll say city a corresponded more against the assault this report from a location near the front lines. the good of good, as recently been taken by russian forces. the issue with no girl of great use, there are thousands and thousands of civilians still inside. the settlements itself is being blasted by you quite in all, it's every day, a nice they all sparing and immunizations. where in the past they would, for example, reserve cluster munitions for, for russian attacks will uh, full, full big dog is one mass gathering of soldiers. now that far, far in class, the shelves, which themselves calls thousands and thousands of use is even if there's a me, a jew of russian. so just size, it's somewhere you pay this pulled. well, it stops on the on it's expenditure of i'm usually that seems determined to hold. the rush of the draws towards barcroft which is, is essential is an absolute sure a hub for defense ad, for your opinion. well, moral

so funding and sa helene, bloody bostic, and that will also there is a pipeline to the people's republic of china easily. she can billingsley meters more that we are looking into on our ridges. it has nothing to do with with what's happening there. new cream is just our agreements and investing that for regional the live someone of many years ago. and we are just implementing that. and in addition to that, we are going to develop the ellen team projects. yeah. so there are certain serious problems there, which is, you know, the good sit on these from miller is well aware of badness till we are developing the stuff in the middle of it. and there's a sector as well in the lead. each and russia is increasing. good supplies at all, the liquefied natural gas. we can certainly be not as rapid as we would like to, but disappointing all the difficulties they are trying to create the rest of we will continue doing that because once the problem here at all, so no matter who it is and how they tried to shut our energy, when it said that with you economy down so that it is impossible and the what th

this is the fed rate cutting and raphael bostic speaking up about the need to normalize rates and thena that shows we still have a robust, if slowing, economy in united states. when we are looking at the benchmark, i am looking at a flurry of news surrounding this key name. we dug into it at the top of the show. intel is up 1.5%. it move friday after reports that it could be tied by a competitor such as qualcomm.guld this morning. broadcom is not buying it, but there was news that apollo global is in -- eyeing an investment. let's talk about the rebalancing that happened over the weekend and is in play today for the s&p 500. ed: palantir is getting a spot on the s&p 500, a milestone the data analysis giant has been after. palantir cofounder and ceo alex karp has had a love-hate relationship with wall street. lizette chapman took a deep dive into the story and joins us now. i have spent a lot of time with dr. karp, but what were you trying to do with the profile in the magazine? lizette: this has been a longtime goal of karp's and the company's. and retail investors who have created thi

industrials up 27 nasdaq up 49 s&pshire by nine points right now atlanta federal reserve president bosticr at u.n. spoke about fed decision to cut rates this morning sayings quote taking that step, does not lock in a cadence for further movers my approach to policymaking guided by incoming data input from business contacts evolving outlook balance of risks piper sandler chief global economist nancy lazar good to see you. >> nice to see you -- >> you say last two times fed cut by 50 basis point was in 2001, 2007 recession followed is that right. >> that is correct. and to be sure chair powell worried about labor markets we agree with that, we would agree with the need to do 50 basis point cut leading indicators definitely pointing in direction of a recession. the unemployment rate isn't up much yet a debate how much is due to immigration cyclical appointment there healthcare education declining six months in a rowe a classic recession signal what was going on in 2001, in 2007, i want to make clear no way making comparison between '07 and today just recession actually started way before bea

ashley: rafael bostic created, quote, appearance of acting on confidential fomc information according to the inspector general, had his security transactions executed for him during fed blackout periods and reported late some transactions made during a 4-year period. the report concludes he did violate stock trading rules but did not break the law. ashley: all right. we will see. thank you very much. things that make you go -- now this. top democrat urging kamala harris to keep dodging the media. >> questions from people in the media will not necessarily connect with the voters. ashley: is this -- i didn't hear that, is this the democrats new basement strategy. clay travis will be here to deal with that in our next our. the governor of ohio is sending millions of dollars and troopers to springfield, they are facing a surge of haitian migrants. we will ask jim jordan what he thinks about it coming up next. with gold and copper prices pushing towards all time highs, us gold corp. offers investors leverage to both gold and copper at its project, and mining friendly wyoming. u.s. gold cor

haslinda: fed president rafael bostic and austin goals be on the great. grace is still with us.he's expecting to more fed rate cuts this year, and for additional cuts in 2025. grace, why? grace: for the u.s., a soft landing is still base case scenario. we understand for now the markets are still pricing in pretty aggressive rate cuts, for example like 75 basis points by the end of the year, but for us, we expect 50 basis point cuts by the end of this year because we still see the soft landing as our base case. and we actually have been seeing a lot of economic data in the u.s. still pretty solid. obviously, for the labor market, it's softening and is not really something -- for now, we have to be concerned about it, especially for the weekly jobless claims data. we have seen the trend of it going down again. haslinda: it's not just about expecting a soft landing, it's also pricing in the best case scenario, perfection. surely some correction is coming for a market like the u.s. that is so overstretched in terms of valuation. grace: yeah, i think, in terms of the stock market, ob

raphael bostic said the fed doesn't need to go on a mad dash to lower rates.s always, great to see you. >> good morning, frank. nice to see you. >> roger, what do you make of us hearing from so many fed officials? obviously, they are speak bing about the economy and moving markets. what's your general take on it? >> first, it is not a departure what from what we have seen in recent years. after the blackout period, the fed opfficials are speaking. it is a lot to have on one day, but that's the trend. i think what's going to happen is a consistent message which is we don't want to fall behind the curve. some with risks more balanced. there will be some on 25 versus 50 points. you see someone going on 50 and others say no need for a mad dash. i think volatility is going to come from a second place which is the fed will continue to emphasize it is data dependent and, hence, every release dealing with the labor market will get outside reactions as the fed will determine when the data release will lead to a 25-basis point or 50-basis point cut at the november meeti

even as we parse the words of raphael bostic, the president of the atlanta fed. the president of the chicago fed. the double rate cut. not the 25 basis points that most of us were expecting until last week. i think this whole game is a sideshow. it is a sideshow that freezes you from buying the stocks of the companies when the stocks are down. the main event on monday will be the initial tally of how many iphone 16s apple sells over the weekend. i know this is a tawdry game where we are given more reasons to sell the stock than to buy it. that is how these launches have paid out, the good and the bad. don't let this interim data sucker you out of your position. again, own apple, don't trade it. we will also hear more about this possible acquisition of intel by qualcomm. the foundry business and intel is all in founders. maybe that is why intel is trying to separate out phantom trees in the last business statements i saw. let's just say i am suspicious, how about that? we lost two different streams of home sales in the last few years. people want to move up i can'

finally, raphael bostic yesterday, an inspector general said might have violated some fed rules aboutding. we've seen this before with fed members no longer on the committee. he's currently a voting member i imagine you're relieved not to be asked the question what the fed should do about this, but what do you think they should do about this >> you know, everyone on the committee is very, very careful about the financial rules. you know, they've changed over time i think that's what you have to do is be careful, but also understand that sometimes things can happen you're not aware of so i think it's a difficult situation, but everyone is very attuned to them, and no one is trying to evade. everyone is trying to be very compliant with the rules >> that meeting is next wednesday. if you were there, you would be for 25, even if you could make the case for 50? >> i would go into the room thinking about what everyone is saying about the table, and that would inform my view but i think a series of 25s, if that's the vmessage coming out, could be on board with that. >> thank you for your tim

nick schifrin has the story with producer karl bostic.e of passage with an armed escort. students arriving on the first day of school after summer vacation. reuniting with old friends. and making new ones, with new teachers. and nine-year-old twins adele and emma azulay, and their mother leanna. but this is not their school, and this city is not their home. they're the displaced, driven from their houses by war. >> most of my students, their house was ruined. nick: ofer zafrni is the superintendent of a school system whose teachers and students have been displaced across the country for 11 months. he says the instructors he briefed ahead of their first classes provide students an antidote to war. >> i think the teachers in israel in general are holding the torch of the hope. they are giving them schedule, something to wake up in the morning, something to do, a goal. all other things are in chaos. nick: their home is kiryat shmona, hit by lebanese hezbollah rockets just yesterday, and on 200 separate occasions, since hezbollah opened fire

rafael bostic says progress has been made on inflation, but the job market is cooling and those two developmentse emerged much more quickly than he imagined just a few months ago. meanwhile, neel kashkari warranted a lower fed funds rate. chicago fed president austin goolsbee foresees many more rate cuts and that was helping the marks when the headlines hit this morning. my next guest says it's unusual for the fed to ease as the profit cycle accelerates and aggressive rate cuts will be bullish, he says, for the small caps in particular. joining me is richard bernstein, ceo at richard bernstein advisers. good to see you, richard. bring us up to speed. what have the small caps been doing since last wednesday? >> they're doing well, but certainly nottee keeping up with the more speculative stuff which has done very well and even crypto has done well and that should be a warning to the fed that maybe they didn't need all of of this liquidity because it's not going to productive use. >> so let's build on this. as a small-cap devotee and as people want to see the rise in the west of the u.s. economy s

you're going to get another base next year, but i think the 50 basis points, think again of what bostic said a couple of months ago. they did a survey in the atlanta area, and they found out from every business owner there, you're going to cut rates, i'm going to have more sales, going to invest, hire more people, see all this activity happening. so, it is already somewhat happening. this 50 basis points is to push to the economy. it should ultimately lead to lower unemployment, hopefully, but it should probably lead to inflation staying above the target. >> doesn't it matter where the neutral rate is, though? it's where we end up. and i'm not sure anybody knows, but you can be sure it's something we've been saying a lot lately is that the band market is in a very different place. the rates market is saying recession. and -- or it's certainly saying a lot of slow economy ahead, not 2%. so -- >> yeah, so, the 3.4% that's in the forecast, that has been priced in the bond market since the fed started tightening rates in march 2022. if you look at the forward rates. basically immplying this

i think what bostic said the other day, and daly, too, if we are too behind the curve with the rate goingtoo quickly, i do expect the fed to act more aggr aggressively. >> 25 or 50 probably doesn't matter, as we said, and i think we're at the four-week average at six-month lows, so, there's nothing in the jobless claims number that are concurrent, at least, in terms of reading the labor picture. does this change any view and what is your view on the second half of '25? where is the economy? because we all know, this could happen pretty quickly and i mean a slowdown. >> no doubt. and i think that's -- 2025 will really be about what are you going to do with fiscal policy? trump made a big case today, i'm going to put elon must income there to start looking at spending, right, and start evaluating that, say he -- we're getting a big change in the fiscal spending picture. so, i think that's the drivers for next year. this sort of phase we're in right now, where the fed is really tin control of the economy, lowering rates if it has to, to control the unemployment rate, i think that really matt

we do not have dishes out of understood leaders, you know, given us the bostic speech is, you know, resisting guys, right. the size of this, uh, this is not the same price as soon as well, thank you. out. is there a senior? this guy has more on the shower, showing his insight with us. thank you for now. and the one i hi, shim is still with us his entire, in southern lebanon. and i know that you have spent a great deal of time. great, you'll find many of these areas, but particularly in here, maybe you could just give us a little bit of, of context because this is an area that suffered math because during the civil war in the 1980s also suffered, it was in men's coming from is rainy bombardment of dia and 2006, but even with all that taken into account, how unprecedented is this attack we have seen tonight? it's well land. maybe this is one of the most of the biggest attacks in the history of, of the, the cold and the conflict between 11 and a district was never seen something like this. the use of tones of explosives follow me. one similar to a talk was just the last day at using the 2006 war

they don't like the mean suites that are like they go the nestle but mom bostic nature, but it's all about for them, the economy and for the people here in pennsylvania. but is the overriding issue. yes, there is concern about the uh, the bold as well that we are a long way from the border. so its not at the top of my, for many people as it may be for those living in the southern states. yes, there is concern about reproductive rights, but for people here, it is all about how they feel, how the lives of many people they feel that lives. nope, that's it. then they with 4 years ago, the fact that groceries are more expensive and all of that plays into how they're planning to buy. so phil, i mean both candidates are back in pennsylvania later today, but for a different reason. yes. so they're all going to be edged huntsville, pennsylvania. that is, of course, because of that is not only the night after the debate, it is also the anniversary of the $911.00 attacks. so they feed a new york this morning. we know that side presidents i pull the president, trump uncommon, the iris. she'll co

annmarie: that is what raphael bostic continues to say.dn't kill the inflation dragon and they need to hike again. he doesn't want to do this whipsaw which is why it is interesting when people come on and say potentially we would get 50. how do you get some of my raphael bostic to 50 when he still has concerns about inflationary pressures? jonathan: using words like methodical on repeat. -50.4. just to touch base, the rally continues. yields lower once again. down about two basis point on the session. the euro not doing much. crude bouncing by 0.8 percent, $70.88. brent crude running as well. just a story the drop in the last few hours. a conversation around whether opec have to pull back on this increase in supply that was due to happen later this year. >> because they probably want to protect prices and they now are going to have potentially a deal in place for the western, eastern government of libya. so why does opec have to add? they are also basically fighting the united states. fighting more than 30 million barrels a day from the u.

look at what bostic said yesterday the fact loosening monetary policy is a dangerous gambit.s not sure whether it's 25 or 50 but she is there. jonathan: we often talk about market pricing and how much repricing and for september and beyond. if the aggregate, the average. the massive broad range of distributions and this is ultimately what he's talking about. saying if we get a bad print here could be pricing in a series of 50 basis point cuts just like that. you get a good one tomorrow morning you're reversing pretty much every thing we've been pricing in over the last couple of weeks, that's how finely balanced everything is when they've said repeatedly they're not data point dependent. lisa: we also don't know the answer to a lot of these questions such as what is our destination, how inflationary is this economy, how responsive is this economy to rates at a time when people were surprised it did not fall off a cliff to how high the fed raised them. they are all fundamental questions, we just do not know the answers it is the reason why fed officials aren't giving us much g

you will hear from basically everyone including raphael bostic at the atlanta fed who is a 50 basis point echoing what we heard from chairman powell. others suggesting they are ready to go another 50. lisa: kashkari sees another case to be made for an additional hat percent rate cut this year, talking about how the balance of risk has shifted away from inflation and toward a further weakening of the labor market. this underscores the concern we hear on the fed that seems to out what we are here with economists who seem to say the u.s. is chugging along. annmarie: the question still remains, no question was answered. now if you'd like we are going into the next decision with the same question, 25 or 50? you mention paul donovan of ubs. he says the market is scrambling to catch up with following inflation now that there is anything wrong with the economy. jonathan: remember that mickey bowman descended last week. the committee's larger policy action could be interpreted as a premature declaration of victory on our price stability mandates. lisa: some would say it was a carefully orchestrate

annmarie: if powell wants consensus, how much easier is it when you have raphael bostic over the weekendosed to 50 150 will look political? jonathan: on wall street we are talking about the destination. i think the conversation we had on this program repeatedly is the fed's oxide by as much as 100 basis and maybe even more. and the federal reserve, i still hear them talking about the journey, methodical, gradual. we hear those words on repeat the last few weeks. lisa: that indicates they want to move slowly, 25, 25, 25. ultimately when we take a step back, i find it interesting we talked about the destination, gradual, methodical. to what? that is why james camp was interesting. inflation will be higher, the fed will have higher terminal rate. they will not address this because they have no agreement and no advantage to addressing it but they are all saying maybe around 3%. is it substantially higher than that if they start cutting this year? jonathan: the opening bell and about one hour and 26 minutes. advancing for four consecutive months in equities and bonds begin yields dropping oth