speaking exclusively with imf chief christine lagarde.ots out of that interview in terms of the reaction to the surprising move out of the swiss national bank sounded like christine lagarde was slapping the wrist of governor jordan for not giving her a head's up or the imf about this move. that was interesting. she almost did not hold back in terms of criticizing that move. >> the lack of communication, you could clearly see there was a bit of anger i think, at least that was my interpretation, body language, of what she was talking about. what stuck out for me most was when she addressed the u.s. economy, however, and talked about how strong she felt that would be and that stood out. that was the biggest part of the interview. >> the u.s. economy is clearly doing well and is a big engine for growth at this point. at the same time she said, as pete mentioned, deflation is, in fact, a cause for concern in the eurozone. how do you trade that? does that mean the u.s. is the best trade? >> she highlighted what the investment strategy is for 2

christine lagarde, ana botin, and then three americans.cohn of goldman sachs, ray dalio, and larry summers. there was a clear divide. it was actually quite good. who won? former u.s. treasury secretary larry summers was much less talkative about qe. he was much less positive about the european project as a whole. >> qe has already had a significant impact, but that's why i'm worried. we already had a set of positive developments and the economic forecasts are pretty dismal from here. the kinds of policies we are seeing are already built into those forecasts. i don't think we should make the mistake of supposing that the situation in europe is in hand. >> my favorite part of the panel was when christine lagarde slapped him down, not really for his economic thinking, but for the fact that he was going on too long. we also heard from gary cohn of goldman sachs, president and coo. he was talking about the importance of the low euro as a way for exporters to have their impact on gdp. >> we are in a global economy and i don't disagree with this

christine lagarde tells cnbc she was caught unaware. >> he did not contact me. i find it a bit surprising he digit contact me. >> crude clings on to gains afteren erratic session yesterday. the top firm is cutting 7% of its work force. >> bp shares in the green after a u.s. judge rules it's liable for spilling less oil in the gulf than alleged. it's maximum mine will be $4 billion lower. >> you're watching worldwide exchange. bringing you business news from around the globe. >> quickly going to bring you flashes firstly out of the iea whose report on the oil market has come out and said how low the market's fall will be is anybody's guess. macroeconomic weakness continues to strain global oil demand growth. prices do not be seeming to stimulate demand just yet. stocks are rising to their widest surplus versus the five year average since august 2010. we'll bring you a discussion on oil in the next 20 minutes or so. one other flash in the last five minutes is the greek government bond yields have risen 40 basis points to 9.5. the three year has risen 137 basis poi

>> christine lagarde said that the u.s. and u.k.re exceptions to the otherwise worrisome global economic outlook. so, i can see why cameron would like to associate himself with the united states. it stresses that the countries are decoupling in a divergent world. the united kingdom is more exposed to what happened in europe than the u.s. and it is important that it keeps pressing forward and it is about structural reforms to be lamented in the united kingdom. >> thank you for joining me. >> thank you. >> it is known as the biggest night and we found out who is and is not up for the oscars. grand budapest hotel has a nomination. the bbc points out that it is a bumpy year for the brits. the imitation game and the theory of everything are in the awards. >> who are you? >> the new lobby boy. >> never heard of you. who hired you? >> mr. mo. >> quirky american comedies lead the way with nine nominations. wes anderson's grand budapest hotel and bird man. >> can i talk to you? >> competing are two british films. the imitation game and bened

christine lagarde stuck up for europe.e is done so in the past, but i asked her, who does she think she pulled a most weight politicians, central bankers, is it the experts that we have seen or is it regulators because of the banks? she said, they all have to come together. she is very diplomatic. let's have a listen. >> they all need to pull their weight. 2015 is a critical year for all of the reasons we discussed, but also because there are big trade-ins on the table that need to be wrapped up. there is a big climb until that was certainly fueled an offer opportunities. there are development objectives. those are three key agenda items. the role of policymakers, business, bankers, all have to really rally around those jobs and growth objectives in the context of those big deals. >> we are expecting european qe today. the problem is, will the central bank to enough to kickstart growth? we looked at the space and said, first of all has qe worked? >> there's a phenomenal difference. you have lived europe. it is not the unit

. >> from the imf, christine lagarde lower oil prices will not be enough to stimulate global growth. >> despite the boost and despite stronger u.s. growth, we see the global recovery continuing to face a very strong head wind. >> two suspected terrorists are killed in a raid by belgian police. the threat level has been raised across the country. >> welcome to "countdown." the oscar nominations are up. "bird man" and the "grand budapest hotel" top the list. >> the swiss national bank lifts the cap against the euro. >> japanese stocks have been falling as the yen traded at its strongest in three months against the euro on increased demand. sovereign bonds and gold hit near four-month highs. this was frank is trading at close to parity with the euro. >> the country's government warned about the impact of the s&p decision on exports and tourism. shares in swiss exporters went down. the swatch ceo describes the action as a tsunami about to hit the swiss economy. for more on the ramifications and the impact we go live to hans nichols. we are hearing many industry voices talking about this.

even christine lagarde did not see this coming. what do you think of this surprise?it is quite a drama. with my new -- i think i am right in saying the move is probably the single largest ever move of a liquid currency since exchange rates started. there must be one of two guys -- one or two guys excited about how much money they made. there must be an enormous amount of blood out there. for lots of corporations in switzerland and elsewhere. this is a huge development. i'm trying to think it through. as a personal investor, the swiss policies would have appeared to have a negative view of the ecb situation. one wonders if that means they have any inside knowledge or a very strong view of the ecb or the have come to the conclusion that the eu cannot survive. to take the risk of such a staggering 30% rise of their currency in such an openly exposed country to the borders of germany and italy is staggering. i'm talking to a lot of friends of mine to try to get them to stop -- i cannot see how it can stay here for very long. >> i saw a note this morning entitled "cuckoo

even christine lagarde of the imf seemed not to be aware of it. happening next week with the ecb you would think there would be more coronation. i think the ecb and snb did coordinate. i think the federal reserve was aware this was going to happen. it is difficult to know and it was a shock. there are questions as to the safe haven status of the swiss franc as a currency. it also questions the status of currencies in general. >> a lot of people say this will be dollar positive. as you run the mechanics, it is dollar positive which at some level will be gold negative. >> in the short term that is possible. in the long-term the fundamental story is one of currency devaluation's of increasing deflationary pressures in the world. that is leading to currency wars. jordan, the governor of the snb is an astute lieutenant in the currency war. they will devalue their currency again because they cannot afford to let their currency appreciate again in terms of the euro and dollar. the dollar has its own issues in terms of the huge national debt in the u.s. p

going on. >> he sat down with christine lagarde after that.t and said she is going to call an meeting of the i.m.f. board and she will voice her support for more financial assistance. have a listen. >> at this time, i would like to say that it really is a demonstration over the determination of the ukrainian authorities to conduct serious long-term structural reforms in addition to also adjusting the fiscal policy in order to make is that your the ukrainian economy is in a position to recover. >> ukraine already has gotten $17 billion from the i.m.f. $15 billion more is what the e.u. says they need. lagarde will be on fran seen's panel. >> in 33 minutes. stay with us. "countdown" continues after the break. ♪ >> you're watching "countdown." time for your foreign exchange check today. thought we would look at the euro. this is a one-year chart. in the last year, you can see very clearly here the euro is down almost 15% against the dollar. the low on tuesday, which was 1.1550, we're nearly there was the lowest since november 11 2003. as you can s

liberty mutual insurance. >>> coming up christine lagarde joins us for an interview.hts on the move out of switzerland and trading the swings in the currency market. apple downgraded the analyst who made that call and should you stay small, small caps underperforming large this year. small cap picks to buy from a top hedge fund manager all coming up on the "halftime report" top of the hour. >> thanks so much. historic day in the world of foreign exchange. rick santelli and the santelli exchange. >> hi, carl. the problem with much of what goes on in the marketplace and there's usually valid research and discussion, most of it right here on cnbc, i'm biased but think it's true, but in the end, counter factuals are a tough zone to get in. case in point, we could go back to the credit crisis and say if we had done things differently, bailouts maybe less, maybe the impact to the economy would have been worse but for a shorter period of time, hit something like a concrete floor, easier to jump off than sand or aud le of water, but -- a puddle of water, we'll never know for

its managing directionilar, christine lagarde, said she will support that.be required. >>> to another story we're watching closely. six more bodies from airasia flight 8501 were found thursday. that means 59 victims have now been recovered it all. airasia's ceo, tony fernandez, tweeted there is nothing more person than finding all of the flight's guests and crew. >>> airasia crash investigators reportedly say warning alarms were activated for some time before flight 8501 went down. investigators told the "wall street journal" and the afp that a store signal could be heard going off on the cockpit voice recorder and that pilots were desperately trying to stabilize the plane before it plunged into the java sea. >>> the moment, severe storms soaking australia's coast in queensland. in melbourne, the australian open will be baking. we have more on the wild weather down under. >> always a big problem, pedram right in the midst of a drought. too much rain? >> yeah certainly is a problem for some people. the amount that they're expected to see on the sunshine coast

global leaders like imf head christine lagarde have warned for years that inequality threatens growthnd could damage the world economy. >> let's stay with the theme of inequality and shift our focus to the state of the union address in the united states. the president is expected to call on tax cuts for the middle class. he hopes to raise 300 $20 billion in the next 10 years and cut taxes by $175 billion in the same. . the plan is expected to face strong opposition from a republican led congress, but experts don't see the president hacking down. but i don't see the president going in with his tail between his legs because his party lost in november. he will feel empowered because he is -- he sees that with his immigration decision his decision on cuba, that the american people like decisiveness they like action. they like somebody taking us to the next step. >> how are the markets doing this sunday? >> trading in europe is still underway. markets are eagerly awaiting thursday's announcement from the central bank. it is expected to announce a bond buying program, which is sending all o

steve liesman speaking with christine lagarde this morning.e september grant's interest rate observers. >> september. >> we ventures swiss national bank will be forced to permit the franc to appreciate and three-year cooption on the swiss euro exchange rate somebody who made this call. >> you don't have to wait until 4:00 to see jim grant. here's here now, grant's interest rate observer that joins us. we look smart having you on today. >> i look really smart heeding one of the advice of one of my readers. >> you give credit where credit is due. what do you think? >> well it is a day to take the measure of our infatuation with the central bank. steve said there were surprises. steve liesman said we have been free of surprises, but what we have not been free of is the constant intervention meddling and hand holding and levitating influence of central banks in our markets. i think what today's underscores is they the monetary manner and the powers that be can attempt to suppress volatility they can attempt to raise up certain asset values but the

hundreds gathered in washington in tribute to the victims, including the imf director general christine lagarde>> the cartoonists were a part of our youths, a part of our daily life for years. it made me smile. >> in new york, people came out in the freezing cold and vowed never to give in to terror. >> you have to laugh, do more cartoons. we are french. we love life. we do not care about the cold. it is not a problem at we're here to say we do not give a damn. we will continue to do more cartoons for >> after the horror and the tears being whipped away here in rio de janeiro, and when is ours, the cartooning has already begun -- and buenos air es, the cartooning has already begun to >> four of france's leading cartoonists were killed in the attack. they were having a meeting to talk about the next edition of the newspaper to be published at the time. shooting began in the room. let's take a look back now at the victims. >> in 2006, charlie hebdo then editor decided to republish cartoons of the prophet mohammed that appeared in a danish newspaper. on wednesday, he fought back tears as he rememb

similar march in washington with the french foreign head of the international monetary fund christine lagarde was polite. >> from the french side there is absolutely no feeling -- no hard feeling. >> reporter: the president did sign a condolence book at the french embassy in washington last week but no mention today during his public appearances of the extraordinary gathering of his fellow world leaders in france. even some administration officials say the white house simply misjudged the symbolic importance of showing up at that march. the secretary of state will go to paris on thursday after attending meetings in nearby geneva to try to repair the damage. brian. >> andrea mitchell starting us off in our d.c. newsroom tonight. andrea, thanks. now let's move to the investigation. which stretches from paris to the middle east with the french now saying other suspects are still at large. the woman accomplice they were looking for after the attacks has apparently made her way to syria. we have two reports from paris beginning tonight with nbc's richard engel. richard, good evening. >> reporter:

we can be rather sure that christine lagarde who is a hard-nosed lady, will not be charmed. >> the concern among the markets is if there is this potential write-down, could this spiral? thank you very much for that update from brussels for us. the stakes in these negotiations are high not only increase as we just mentioned. developments could also potentially reshape and unsettle other european countries. >> they are calling it the greek revolution, anti-austerity parties gaining momentum. >> having a knock on effect in countries like spain, giving rise to parties calling for a rollback to spain's austerity measures. >> the success is down to people like this who joined four months ago the part of central madrid where the party was born. the neighborhood is known for being authentic, alternative. just like the image they want to project, and that is why it has won so many supporters. >> it's the first time i have been involved in a political party. i always had a lot of ideas about politics and was always interested but i never joined one. for the first time now suddenly, the party is real

that is why we have a very important meeting today with christine lagarde.coordinate our assistance. this is vitally and crucially important for us. >> what do you make of this escalating violence? what are the russians trying to achieve? >> again, i am a president of peace. i have told him that many times. we are proposing a cease-fire. that is a basic condition for peace. [indiscernible] cease-fire, closing the border releasing the hostages starting the political process. >> the fighting today is almost as bad as august of last year. >> we know have several points from the russian troops and russian backed rebels, where they are activating their armed operation against our troops. we are keeping the assault operations fresh. we are taking into account additional forces that come into my country. especially now we need three things. we need unity of the whole world against a terrorism attack. please, you should believe in ukraine. we are defending democracy, we are defending freedom, we are going to defend not only our territory but we will defend the europ

what i'm thinking here, christine lagarde spoke today and talked about repercussions.will not raise rates -- >> "street smart" is up next. ♪ . . >> welcome everyone to the most important hour of the session. i'm trish regan and this is "street smart." the swiss franc ending its policy -- we will discuss the motivation behind this move. and we are counting down to earnings at intel. he will speak to intel's cfo and i will jointly -- i will be joined by richard branson. and former senator judd gregg and

christine lagarde was on a panel with francine and she made a very clear there is one bright spot inld. >> that is what is going on. >> you can see who it is, track of them. [laughter] that is the absence of our concern, isn't it? >> low-level -- a level oil prices will boost a real wages a real profits in europe and japan and later in the year. after this precise moment, only the u.s. is doing the type. the u.s. is going up the mountain with all of the other countries attached to it by ropes in the u.s. is better in every time one of the other countries falls down, it brings the u.s. back down. it is not strong enough to provide the engine of global growth. there are other countries that are being they used to be dynamic that are softer and dragon down the overall global growth rate. >> for us in the united kingdom that relationship with europe is presumably one of the biggest issues. we have a strong currency against the euro and it is one of the main export markets are the you pay -- and it is one the main exports for the u.k. currency on one side and oil on the other which is com

imf chief christine lagarde is keeping praise on ireland recovery.the irish people has made great sacrifices, which have begun to bear fruit. growth has accelerated to be the highest in the euro area, bond yields are at historic lows solid job creation is underway." separately, i too was in dublin this weekend. i visited the guinness factory. i have to say it does actually taste better and different there. our dublin bureau chief joins us now from dublin. what was the secret to the success here? how did ireland go from having such a severe banking property bus to becoming the fastest-growing country in the eurozone? >> well i definitely urge auction here. sure, the headline numbers look pretty good 5% or so this year over last year as well, a lot of that is down to success, it seems to attract companies like google, facebook, and linkedin. i say concerns because of the 12.5% corporate tax rate. it has cap the numbers decent but i say if you look at the bottom a little bit, there are a lot of problems out there. i would not get carried away with the n

among among the marchers froms christine lagarde. hundreds of citizens rallied to show their support of the french people. the vigils are at a jerusalem city hall and meant to coincide with the paris event. several hundred in madrid participated in two rallies, one organised by french students, the other by spanish muslim groups that held at a strain station the site of an attack a decade ago. demonstrators carried banners saying "not in our name", in egypt a silent protest for free speech outside the headquarters of the syndicate of journalists. they held up pens and signs with the slogan "jes suis charlie" >>> ahead on al jazeera, we continue the coverage of the french unity rally. the iraqi army's challenge driving i.s.i.l. from the strategic areas. >>> prices at the bump - bad news for some states. we tell you why. >>> welcome back. wall street is watching to see how the falling price is affecting you, the consumer. results from that and holiday sales will be seen in the next couple of weeks as retailers announce a fourth quarter

i have the distinct honor of presenting to you christine lagarde. clearly, she need no introduction but i do want to highlight what i think is a very place that she holds an world history, and i mean that. she was the first female chair of baker mckenzie, an international law firm. she was the first finance minister of a g8 country, and of course now, she is the first head of the imf, but maybe more importantly in the context of that, right in the worst part of 2009, the worst crisis, she was ranked as the best minister of finance in the row zone. and of course, we all know here in d.c. she enjoys that kind of reputation. it is my distinct pleasure and honor to present you may download guard who will share -- madame lagarde. thank you very much. [applause] >> thank you very much. and good morning to all of you, and happy new year to all of you . this is my first public appearance. i am delighted to be here at the council on foreign relations to speak about the world economy as we see it from the perspective of the imf. i think the council -- i was c

christine lagarde, sits down with steve liesman at 12:15. dow's up 19 points.estion: in retirement, will you have enough money to live life on your terms? i sure hope so. with healthcare costs, who knows. umm... everyone has retirement questions. so ameriprise created the exclusive confident retirement approach. now you and your ameripise advisor.... can get the real answers you need. start building your confident retirement today. >>> welcome back to "squawk on the street." tough day for best buy shares. had better than expected sales during holiday season but warned pricing pressure and sluggish demand will lead to a sales slump in the first half of the year. investors not happy. shares down by 14% near their session low. simon, back over to you. >>> could this week prove a turning point for one of most shorted stocks in the s&p? gamestop rallying over 10% yesterday. some shorts getting knocked out. video game retailer gave a holiday sales read better than expected and ceo paul raines saying the trend will continue. welcome to the program. >> thank you simon.

. >> listen to you guys, india and china just as christine lagarde says the u.s. but that's pretty much it. steve, let's talk specifically what you expect from the european central bank next week, they're going to be meeting as charlie gasparino and i and anthony scaramucci will be on the show talking about the scoop from the world economic forum in davos. tell us what you expect and how the u.s. equity market will react? >> i think the big story really we're talking about the dollar and the euro, that's what's on everybody's minds right now. and to me, actually, today may be the very top in the u.s. dollar. my research piece comes out, february piece for my clients comes out monday, and in it, i'm saying it's time to sell the u.s. dollar and actually buy gold stocks, believe it or not. as the way to play, because we're seeing uptrend in gold. gold is strong, while the dollar has been strengthening. but now the dollar strayed completely full, and so i think we're going to see a sell-off in the dollar. i prefer gold over the euro. liz: eric, do you expect removing

christine lagarde, the president of the imf, was the guest speaker and the guest of honor and gave, apparentlyspeech about the economy, women many finance and also said she was a synchronized swimmer at one point. liz: she sure was. >> so she talked about this. that's a picture from the meeting. and it was at a nice restaurant right in davos, and, you know, sheryl sandberg was making the rounds as you know. we reported she was overheard saying how easy it is to write a book, her book, "lean in," she said that to bob -- [inaudible] a nobel winning economist, but she failed to show up on friday night to this gender gap dinner. and it raised a lot of eyebrows. people were saying why did she do this? this is somebody that in the past showed up when she had to sell a book, she showed up. why isn't she there now to show some support? we should point out that women, as much as this is a very politically correct conference, women make up the vast minority -- liz: only 17%. >> 17% of the 2500 apartments are women -- participants are women. they clearly are underrepresented, on many of the major panels,

the imf christine lagarde to anyone who thinks oil slump will boost the global picture. >> obvious questions that we have at the moment is should lower oil prices and a stronger recovery in the united states make us more upbeat about the prospect for the global economy? and unfortunately most likely the answer is no. melissa:enope. that is what she had to say. nope is this going to make the economy better? nope. >> we've gone from yea, to not so much we're a little bit worried. in the u.s., low oil prices will hurt the profits of our oil producing companies but consumers are much more important. they're benefiting from lower gas prices. we do a lot of business overseas. melissa: right. >> this oil price plunge speaks to profound weakness oversees. it is gone from promisings to worrisome. >> every recovery since world war ii has been lead by the u.s. the u.s. is the locomotive that pulls everything along. it is by far the richest country in the world. >> best looking. >> most popular but it's a very rich country and if the u.s. does well maybe it can pull some of those countries along. meliss

christine lagarde was giving a speech earlier today, talking about whether this drop in oil will cabinethe economist. she said she really doesn't think it will be enough of a stimulus to forgo the risks across the globe. she also sent a signal, the fed has to be very careful about raising interest rates especially when we have these deflationary forces around the globe. i think what we're seeing with oil, i think it is significant. liz: we re-established with gary evans. the fact is we see a collapse in oil right now. now i guess the question becomes, back in the '80s it took two decade to recover after the collapse. are you guys expecting it to take that long again? >> i think our industry needs to be prepared for at least a year or two years of lower prices. fortunately for magnum hunter i sold all of our oil properties over 700 million in the last year-and-a-half because i felt like prices were too high. we're predominantly a natural gas company. i have lots of friend and executives obviously in the business. we've been through this before and what happens is, costs come down, the ser

you see there christine lagarde, who is heading up the conversation there. we have seen amazing things at the museum that tracks things from all over the world that represents the freedom of the press. we have seen several demonstrations there at the museum. you can see with the sign there on miss lagarde's back, je suis charlie. we have conversations about the freedom of the press. those are live pictures there in washington, d.c. as solidarity builds here as well with the people of france who have suffered so much. interesting to note the french interior ministry is now saying all total the demonstrations across france today, some 3.7 million people took to the streets to stand up against this, to stand in solidarity for freedom of expression and press. we are monitoring the ceremony there with benjamin netanyahu speaking. i want to bring you in here. at the point the senator was talking about reaching out to the next generation with a better ideology that is not the way to go. we offer you something different. many criticize the role of the u.s. saying it

we have christine lagarde and that will be on this show tomorrow. right about this time.e have not had a chance to talk to the managing director in a while about all the changes that have happened in the global economy and where she thinks we're going. thanks to you as well. coming up, is it time to bail on the banks? the financials in the red today. some of our traders as we already mentioned getting cold feet on the sector. one of them could be about to dive into a laggard. energy stocks also taking a beating. but a five starr value an investor says now is the time to buy. he will tell you what he's doing. and then later sugar ray leonard teaming up with nbc sports in a push to change the business model of boxing. he's going to join us live as well. when we come back. house... it's a full day for me, and i love it. but when i started having back pain, my sister had to come help. i don't like asking for help. i took tylenol but i had to take six pills to get through the day. so my daughter brought over some aleve. it's just two pills, all day! and now, i'm back! aleve. t

christine lagarde talked about this. >> for those of you that want to send hate mail to brendan greeleyn that comment -- brendan greeley on the climate. >> we have terrific guests. jeffrey rosenberg of blackrock. i will announce right now our special guest. we hope to have for you from newark international air force bradley durr long a berkeley. not bad. stay with us. "bloomberg surveillance." ♪ >> we are bringing you live pictures. this is from a town outside of paris. >> help me with the pronunciation. >> dammartin. >> madame lagarde, i'm sorry. that was fraction french. >> these are external shots of the printing factory where the two suspects who remain at large are reportedly holed up. >> one witness says he took hands -- shiooook hands with one of the kouachi brothers. he posed as a police man and then told the witness to leave when they took over the printing factory saying, we don't shoot civilians. >> the shades of this -- we have a great guest for you today. >> they headed into a printing building and reportedly taking a hostage as well. what are your thoughts on what is next?

>> s christine lagarde. >> she will put down her drink and soberly predict. >> 5% returns are not thatt's fairly pessimistic compared to a we had the last 20 years. that includes too bad bear markets. to horrific bear markets. i would consider ourselves optimistic. the u.s. looks a lot better than japan and europe and emerging markets. >> everything looks better than japan. >> it has for a long time. >> this reminds me of the reputation economy. >> you haven't read the back flap. >> reid hoffman. >> thank you so much. matt miller, thank you so much. michael is staying with me. dan gilbert on a mission to change your mind about his hometown. he is risking his reputation to do so. more for my interview with dan gilbert coming up. i will sit down with sam zell. >> heavy hitters, betty. i like the way you role. >> we are a few minutes into the session. stay "in the loop." ♪ >> twitter has agreed to buy an indian marketing company. the price tag is $30 million. this will improve their ability to reach mobile phones and emerging markets. an executive at samsung says the company still needs t

also steve leisman has an interview with christine lagarde.e on all these moves as well. >>> coming up when we return the space race is on. virgin galactic funding new satellites that will be delivering internet to underserved areas. sir richard branson will join us with greg wyler next founder of the project company behind the project. we'll tell you about it when we return. in my world, wall isn't a street... return on investment isn't the only return i'm looking forward to. for some every dollar is earned with sweat, sacrifice, courage. which is why usaa is honored to help our members with everything from investing for retirement to saving for college. our commitment to current and former military members and their families is without equal. start investing with as little as fifty dollars. ameriprise asked people a simple question: in retirement, will you have enough money to live life on your terms? i sure hope so. with healthcare costs, who knows. umm... everyone has retirement questions. so ameriprise created the exclusive confident reti

later international monetary fund director christine lagarde will talk about the health of the global economy. watch live coverage from the council on foreign relations at 11 eastern. >> here are some of our featured programs for this weekend on the c-span networks. on c-span2 saturday night at 10 on booktv's ""after words,"" wall "wall street journal" editor brett stevens argues our enemies and competitors are taking advantage of the situation abroad created by the u.s. as it focuses on its domestic concerns. and sunday night at ten, democratic representative from new york steve israel on his recent novel about a sale asman and a top secret government surveillance program. and on american history tv on c-span3, saturday at 8 p.m. eastern on lectures in history george mason professor john turner on the early mormons and their attempt to create a new zion in the american west during the 1830s. and sunday afternoon at 4 on "real america," nine from little rock. the 1964 academy award-winning film about the forced desegregation of little rock arkansas,'s all-white high school. find our c

coming up on thursday cnbc's steve leaseman will have an interview with christine lagarde. >> a lot to look forward to. but coming up on today's show as alleged mastermind behind the silk road website goes on trial we ask one expert how bitcoin will fair in 2015. a look at sports. my home team oregon loses to ohio state in the national championship. what went wrong? we dissect last night's big game. investors work up an appetite for shake shack's ipo. we'll also speak to the ceo of burger rival habit restaurants just months after the group's nasdaq listing. that's live coming up from orlando. >>> you're watching worldwide exchange. >>> all right. you're watching worldwide exchange and we are tracking all the big movers in today's session. >> absolutely. let's have a look at some of the big movers here in europe. outperforming and it's looking for a new ceo to return to growth after the supermarket announced disappointing sales over the christmas period. the current ceo will be leaving at the end of the four year results in march. the new chairman said his successor will be an external

. >> also don't forget on thursday cnbc speaks exclusively to christine lagarde. >> jp morgan kicking off bank opens in the u.s. could that be a sign of things to come? we discuss after this break. >>> european markets reverse some of their losses after the european court of justice gives the green light to the omt program and moving another obstacle to full blown quantitative easing. activist investor bill akman explains why he is avoiding the energy space. >> it's an interesting time to look at energy because of any business where the price of your only product goes down by 55% in six months that's going to cause a lot of disarray but it's probably not for us. >> russia's finance minister warns the economy is facing a $45 billion hit if oil prices average $50 saying it's likely moscow will be downgraded to junk status. let's get a check on the european markets and how they're trading after what was a solid session for european equities. interesting enough despite the sell off on wall street stocks did end seeing a gain of better than 1%. we're actually down across the board. the big

and later, christine lagarde will talk about health of the global economy. watch at 11:00 a.m. eastern. >> the chair of the house judiciary committee congressman baca.talked about some of the priorities of this committee. they include the neutrality antitrust laws and prison reform. he also talks about immigration and challenges to the health care law. the virginia republican spoke to reporters at a christian science monitor event. [inaudible conversations] [inaudible] [inaudible] >> we would like to welcome chairman bob goodlatte. it as well as others. chairman goodlatte earned his bachelor's degree in maine where he served as president of new college republicans and he came to virginia to attend law school. the congressman practiced law from 1981 until his election to congress on his first try in 1992, part of his law press practice included immigration law. in addition to chairing the judiciary committee, he also served on the house all the culture committee where he was chairman from 2003 until 2000 evan. he is interested in technology issues and serving as cochair of the c

. >> up next, international monetary fund rector christine lagarde talked about the global economy, oil prices come and world debt. this event is from the council on foreign relations. it is about an hour. >> good morning. thank you all for joining us. i have the distinct privilege today of welcoming you to the council on foreign relations and the honor of presenting the imf managing director madama guard. -- madame the guard. clearly, she needs no introductions, but i do want to highlight what i think is a very special lace in world history and i mean that. she was the first female chair of baker mckenzie, an international law firm. she was the first finance minister of a g8 country, and of course now, she is the first head of the imf, but maybe more importantly in the context of that, right in the worst part of 2009, the worst crisis, she was ranked as the best minister of finance in the row zone. -- the eurozone. and of course, we all know here in d.c. she enjoys that kind of reputation. it is my distinct pleasure and honor to present you may download guard who will share -- madame l

so he like christine lagarde was not called and given a warning. on my own assessment for the u.s. economy. just a preview there. expect central bankers are doing a lot of calls behind the scenes to figure out what ramifications are this. >> if it wasn't a surprise you'd make a lot of money. you could have bet against it and made a lot of money. many in the market have done that. >> but it goes to the question of coordinated central bank policy. >> what the ecb will do next week and realizing you can't cope. >>> what do a pebble watch and espresso machine have in common? live in "squawk alley." crude at the high of the session after the best consumer sentiment numbers in ten years. we'll be right back. financial noise financial noise financial noise >>> cme group, check in with rick santelli and get the santelli exchange. >> carl, thank you. we all know that one of the hottest topics for the last several plus months and maybe the hottest topic -- a hot topic for many quarters to come is the big drop in energy maybe even bigger story is technology a

speaking of steve liesman tomorrow don't miss his exclusive interview with imf managing director christine lagarde. that will be tomorrow at 12:15 p.m. eastern during "the halftime report." looking forward to that. >> thanks everybody. >> see you guys later. >> looking at a market off 252 points as we head into the final 50 minutes of trading. we're off the lows of 333 but still a sharply negative day across wall street. declines of 1% off the s&p which earlier was back below the 2,000 mark. the nasdaq gives up 39. >> the pro will be weighing in on what you should be doing to safeguard your money and whether you should be buy the today's dip. jay jordan will tell us how he's putting his clients' $8 billion in assets to work. that's coming up here on "the closing bell." >>> also ahead, wells fargo cfo john shrewsberry speckaking with us. strong loan groentwth in its 18th consecutive quarter. stay tuned. there's a difference when you trade with fidelity. one you won't find anywhere else. one-second trade execution. guaranteed. did you see it? in one second, he made a trade we looked for the best pri

christine lagarde, the head of the imf, addressing people here in washington about the nature of thelobal economy. if you mistakenly can watch it on our without -- our website www.c-span.org. here's a little bit of that exchange. [video clip] collects should lower -- >> should lower will prices and a stronger recovery in the united states make us more upbeat about the prospect for the global economy? unfortunately, most likely the answer is no. no. no why? because there are partial factors, legacies of the crisis that are still we get that -- that are still with us and weakening our economies. clearly, the drop in oil price is, as we say, a shot and a welcome shot in the arm of the global economy. but to use the physical analogy the shot in the arm is good, but the global economy is weak on its knees stop we need strong arms and legs as well. cheaper oil increases the need for private demand for oil importing countries. and depending on how long oil prices remain low, this could provide positive contributions for global growth for some time. as for the u.s. economy, it performed well

move is the story of the week catching the global markets off guard yesterday and imf chief christine lagarde sat down to dismiss the idea that a currency war might be brewing but to also say she had no idea it was coming. >> there was talk about a currency war back three years ago. we are not hearing those words anymore. not that music. and i would certainly hope that we do not have currency wars and that countries and their central banks in particular refrain from competitive devaluation. >> that's her hope but you obviously can't control what the individual countries are going to do and what else could she say. looks like a currency war is right ahead of us here. >> we believe in the strong dollar. >> what they say matters about whether it's self-fulfilling so i don't know how much stock you can put in that. how has the swiss move upped the ante for the decision nec week? let's speak with germanyjeremy. is it true that you think if they were not to act that it could foil the markets. >> well clearly the markets are royaled by the events of the ecb. if they don't step up to market expectati

and then the withdrawals of christine lagarde the head of the inf and condoleeza rice for speaking as litmus test and you're not acceptable. >> that's why it's so great that the chancellor at uc-berkeley stood up and said, kids, he's coming and too bad because we've got to respect his right to say what he thinks. >> that's right. if you can't say what you want at berkeley where can you say it? >> amen. thank you for joining us live. >> thanks for having me. >>> coming up, stunning developments, governor j. nixon of missouri ordered the national guard in that state to stand down during the ferguson riots. can he be liable for all of that damage? geraldo rivera is a lawyer and he joins us in a couple of minutes. ♪ ♪ you park your car. as you walk away crunch! a garbage truck backs into it. so,you call your insurance company, looking for a little support. what you get is a game of a thousand questions. was it raining? were your flashers on? was there a dog with you? by the time you hang up you're convinced the accident was your fault. then you remember; you weren't even in the car. at li

he met with janet yellen and christine lagarde of the imf.teresting that christine lagarde really heaped parise on david cameron for the transformation of the british economy. britain is going to be the fastest growing g-7 economy this year. that's a big feather in the cap of george osborne. >> the austerity experiment seems to have paid off. they seem to actually get along. strangely, their politics align. if you account for the differences between american and british party divisions. >> a lot of people say if you are a liberal in the u.s. you are a conservative in britain. thank you so much. brad hintz and alan patricof great to have you on. we will get you back as soon as possible. bloomberg "surveillance" continues on radio. "in the loop" is coming up next on bloomberg television. had a great weekend and happy mlk. ♪ >> good morning. it is friday, january 16. you are "in the loop." i'm matt miller come in for betty liu. nine minutes away from the opening bell. he was just as shocked by the swiss central bank as anyone else. jim o'neill.