defend that -- defend christine lagarde right now. is she doing it right? so closely with christine for the last five years, i think she is one of the great leaders in the world today. she has a way of dealing with very difficult situation with grace, clarity and i see no evidence that this particular interaction will go in any different sort of way. >> thank you so much for joining us today on bloomberg. bloomberg's tom keene live from washington there and the imf meeting with the world bank president. more from theyou imf world bank meetings later today, live remarks from the imf managing director, that is coming up in just a few minutes. you are watching bloomberg markets with myself and mark barton. now to be corporate news. jpmorgan and citigroup kicking off the third quarter season on wall street. both had earnings results played by volatility. joining us now with his analysis is charles peabody, a banking analyst at compass point research. banksting fell on all except for two and the others are neutral. aret is largely because we placing peak multiple

christine lagarde was saying for some developing countries this could be a cashless solution >> the lasthird of my book is about bitcoin, the blockchain and what it offers for security is important the problem is that there's regulation, there's potential competition. it's a difference between the blockchain a good idea or is bitcoin going to own the field >> so you're more with jamie dimon that this is a fraud >> no, it's not a fraud, it's a genuine technology just as when the coin and paper technology was invented, it's a good idea, but eventually regulation will come in. every central bank is looking at doing digital currency, making use of this. i don't know which technology will win out and how it plays a role the question is does bitcoin have a unique place? will it merit this kind of price? the japan move is very important. they made it a legal tender, but it's a little nuts, too. i don't think it's sustainable >> i have a feeling people will be talking bitcoin today the other big overarching story we've been talking about is the global economic recovery, the fact we have it firin

we heard from christine lagarde speaking about tax reform, why?it is an interesting development. leading into this, many policymakers focused on inequality, what caused it, how it can be alleviated. the annual report from the imf talked about how prosperity could be better shared by moving some of the tax burden more on the wealthy. some have said, soak the rich to help the economy, i don't know, but the argument is clear. inequality it wrote social cohesion and can slow growth. -- the roads social qiagen and can slow growth. they off the record have been saying that less progressive tax rates are not bad for the economy at all and that trump tax cuts will help u.s. workers. the imf is dead wrong they say. tax cuts will boost gdp. christine lagarde on bloomberg today when asked about this seemed to be trying to for some oil over troubled waters. >> i'm not going to pass it judgment on the current draft for consideration by congress. i have done my tax reform is minister, and i know what those drafts go through. news points out, the imf looked at t

plus, an exclusive interview with imf managing director christine lagarde, what she d ha to say aboutto 3% economic growth in this country and tax reform >> and it should be project neutral. it should not increase the deficit. it should not drive to yet more debt into the future because that's an issue that the u.s. has to deal with it's like having your cake and eating it too. ask your broker if they offer award-winning full service and low costs. how am i going to explain this? if you don't like their answer, ask again at schwab. schwab, a modern approach to wealth management. i can't wait for her to have that college experience that i had. the classes, the friends, the independence. and since we planned for it, that student debt is the one experience, i'm glad she'll miss when you have the right financial advisor, life can be brilliant. ameriprise christine lagarde laying out her policy agenda ina speech ahead of the imf annual meeting next week talked about the fuel for this market, global growth, and for the first time in years the fact that we're seeing a coordinated expansion,

tom keene talked to imf managing director christine lagarde.ut president trump's plan for tax reform in the u.s. christine: for two years now, we have repeatedly said that a tax reform was absolutely needed and necessary in the united states, in particular a corporate tax reform. mind, nono doubt in my ambiguity about that point. it is needed, necessary, we call for it and we look on the decision to think about a tax reform that would make taxation simpler, that would reduce the ,oopholes and many deductions that would be focused on labor activity, help the middle class, that would be progrowth, and i am not going to pass judgment on the current draft that will be under consideration. i have done tax reform in my days, and i know what those drafts go through. ,hey go through iterations addendum's, lobbying efforts. madame lagarde is the finance minister in france, and has received every headache you can. -- nuance to me i know you can defend yourself, but they defended you self. phd economists on the theory. the distinction to me is between the

thomson reuters. >>> imf managing director christine lagarde laying out her policy agenda.nce to sit down with her for an exclusive interview yesterday, asked about the increasing regulatory and political pressure on big tech everything from taxes, to fake news under the microscope. i asked whether companies like google and facebook actually deserve more regulatory scrutiny >> i think the way in which they operate and the value that they generate the activity from needs to be looked at, and i hope this can be done in cooperation with them you know, value that is driven by data, information, consumption, that we volunteer in a way without really us knowing about it determines the value of what they can offer in terms of services, and, clearly, revenue needs to be contributed by those companies. where it is contributed, how it is defined, how intellectual process is going to be used as a basis to allocate revenues and base taxation on, all these things are being -- need to be reinvented, and i hope that dialogue takes place, rather than, you know, harsh, adversarial debate >>

christine lagarde: we have economyp the u.s. compared to our july numbers.ew countries including advanced economies. what we hope to see is implementation of the reforms that we have called for for many years. a good solid tax reform that will be simpler, where rates will be lower with a base that is much more solid and clear. that is what we hope to see. the sooner he goes through, the better. lagarde.ristine earlier with bloomberg's tom keene. "what'd you miss?" the again, both sides in brexit negotiations. on this question, we have reached a state of deadlock which is very disturbing for thousands of the project promoters in europe and it is disturbing also for taxpayers. >> we continue to work constructively in a professional and determined manner this week. >> any momentum. i remain convinced today, with political will, decisive progress is within our grasp in the next two months. while there is still much work to be done, we have come a long way. significant progress since june. >> no deal will be a bad deal. >> the u.k. is preparing for everything. si

that will stop christine lagarde -- christine lagarde or the imf from making their comments.overing every country, to break what they think is going on. i don't see that changing. the main thing this administration has got to do is get down to business. they've lost a lot of time over health care. they haven't started on the infrastructure side, and they need to get on tax reform. if this administration is going to get to 3% growth, they've got to move out of this area as quickly as possible. >> that was mentioned by mick mulvaney yesterday. we are certain we are going to it could -- continue to accommodate. we will continue here from washington and london. your morning brief on radio, bloomberg daybreak trade look for that coast-to-coast. on bloomberg radio. ♪ francine: we need to talk about technology and startups across europe. since being elected, macron has been on a drive to boost france. he had a commitment to commit 10 billion euros to finance innovation. some people are in paris for this year's dpi generation conference. joining us from the event for an exclusive int

the international monetary fund on the world economy as you said positive outlook right now christine lagarde of the i.m.f. says two thousand and seventeen is the strongest year since two thousand and ten and it will be more growth in two thousand and eighteen but at the same time both the i.m.f. and the world bank say we have to be careful we cannot be complacent because there are some risks at hand there's a tendency for more protectionism in many countries including the one we're here right now in the united states also there's a lack of investment so the i.m.f. and the world bank fear if nothing is done here. maybe the world economy is not ready for setbacks in the future. because of the financial community there is also saying good bye to food german finance minister of all. they sad to see him leave briefly if you can. yes they are because of course one of the longest serving finance ministers here and the germans who also presided over the g. twenty for the last months have made their focus on stability on reducing that's on consultation of budgets so to bring the world economy into a

managing director christine lagarde fleshed out the report in an exclusive conversation with bloombergm keene. tom: have we reached escape velocity on all the agony in the last 10 years? christine: let's hope so, but it is not guaranteed. while we have certainly better growth and better growth year,st, 3.6% for this 3.7% for next year, it is not shared around the world. while we see the sun shining, we also see clouds on the horizon and countries and people not having the benefit of it. tom: how does the imf link constructive tax reform with the worldwide idea of getting our debt house in order? christine: what, you know, needs to be done is to look at the evidence, at the data, at the numbers, and then to determine policies on that basis. with in mind, two things. the spending, the political objective of wanting to improve the situation of the middle class and ultimately reducing excess of inequalities, if that is the case in that country. that is what needs to happen. clearly, in those countries that have a heavy debt burden and those that have entitlements coming to fruition, that w

imf director christine lagarde making comments about global growth her latest outlook straight ahead.>> as we count down to the jobs report, we're looking at where the jobs are and how the blockchain technology could be the latest thing for t uhe.s. labor market stick around more "worldwide exchange" coming up i love you, basement guest bathroom. your privacy makes you my number 1 place to go number 2. i love you, but sometimes you stink. febreze air effects doesn't just mask, it cleans away odors. because the things you love the most can stink. and try febreze small spaces to clean away odors for up to 30 days. breathe happy with febreze. throughout history, the one meal when we come together, break bread, share our day and connect as a family. [ bloop, clicking ] and connect, as a family. just, uh one second voice guy. [ bloop ] huh? hey? i paused it. bam, family time. so how is everyone? find your awesome with xfinity xfi and change the way you wifi. >>> welcome back to "worldwide exchange." let's get you up to speed on the market action. we're continuing a current trend that we've

julia: christine lagarde joins bloomberg markets at 10:20 a.m. eastern time tomorrow. for "what'd you miss?" joe: have a great evening. this is bloomberg. ♪ alisa: i'm alisa parenti from washington, and you are watching "bloomberg technology." let's start with a check of "first word news." president trump is expected to try to sell his tax plan in pennsylvania. typical american household would get a $4000 pay raise from the planned legislation. advisers have said this materialized -- would orerialize over four years on an annual basis would be closer to $500. president and mrs. trump welcomed the canadian prime minister and his wife at the white house today. the meeting comes at the start of a new round of nafta talks. threatenedrump has to withdraw from the accord unless the u.s. gets a better deal. house speaker paul ryan is taking a hands-off approach in the escalating feud between president trump and tennessee republican senator bob corker. ryan was questioned today about the war of words between the two in recent days. speaker ryan: i think it's just talk it out a

citing the poet shelley, christine lagarde said there is a degree of harmony in growth, but expectationsre limited by lack of reform and disruption from technology. she added the general pickup and trade is good, but rising protectionism means clouds are on the horizon. >> far too many people across all types of economies are seeing restorations limited by the impact of technology and excessive income inequality. political is growing tensions in many places and increased skepticism about the benefits of globalization. >> sporadic violence erupted in barcelona as supporters and opponents of independence clashed. madrid prepared to use measures to prevent a breakaway. with marked national day rajoy, saying he could take control of catalonia under the constitution. progress toward negotiations on trade. the pound fell at an impasse. tariffs on grid -- on goods between them two sides and regulations imposed on business. inflation unexpectedly slowed in september, potentially reviving calls for an interest rate cut to spur flagging growth. median estimate in a bloomberg survey. it raises ques

also on the menu in washington, dc, the head of the imf, christine lagarde, is expected to urge for moreoing on even as across town a new round of talks is under way to renegotiate nafta, the trade deal between the us, canada and mexico. last but not least, on the economic front watch out for producer prices from september. some interesting news coming in from the afp news agency, telling us that germany is airline is to buy luftha nsa germany is airline is to buy lufthansa is going to buy more than half of the aircraft from air berlin. it went into bankruptcy protection earlier this year. they are going to buy 81 planes. 81 planes and 3000 staff. trevor greetham, head of multi—asset at royal london asset management, joins us. nice to see you, deals are being done. your take on what has been going on in the last 24 hours. a lot going on in the last 24 hours. a lot going on in the last 24 hours. a lot going on in the states and the market is going up and up. we have got a strong world economy and strong stock markets and not very much inflation and that is what people are grappling with i

last year imf chief christine lagarde was also dragged into the spotlight for her role as french finance minister under president nicolas sarkozy. at the time the settlement. she had ordered the case be tried by an arbitration panel rather than the regular court system. they got was convicted of negligence for failing to challenge of payments deemed detrimental to the french state. and its taxpayers. a second on the day's trading action now wallstreet trended down throughout the session after bloomberg reported that lawmakers in the u. s. we're considering gradually reducing the corporate tax rate over the coming years. rather than all at once nasdaq paring back losses slightly towards the closing bell the shares in chip makers and other component providers for apple jumped. is as the tech giant clinch pre orders for its iphone ten were off the charts. it was a mixed close to the major european indices the two hundred and kept out dragged down by some disappointing earnings. madrid's ibex up two and a half percent it soared since the central spanish government to control of catalonia. bu

we are watching headlines from christine lagarde. is at a conference in boston the head of the imf meeting next week. theis making comments on tax reform plans here in the u.s., saying deficit widening tax changes are not "advisable." that is an understatement. globalization is a baggage word left for those kind. also come a surplus nations must take advantage and invest, return that money and invest. also noting the imf is accommodative of the boj and ecb. interesting, very timely coming from lagarde. especially come of a past the budget resolution. one step closer to some kind of tax reform from congress. that big test will be when the senate continues to stick with the proposal we do see. they are not as keen when it comes to budget deficit. similar to what we're hearing from lagarde. it is surprising come other republicans that are supposed to be deficit hawks have not come out as strongly as one might expect. in the meantime, here in the markets they are sanguine about any showdown on taxes. let's look at how the markets ended u

coming up, christine lagarde at 10:00 a.m. eastern time. this is bloomberg. ♪ alix: trump's meeting with john taylor, the short list of people in consideration to be the next chairman of the federal reserve. kevin warsh is the leading candidate. jerome powell is moving to second place, tied with janet yellen. peloskymckee and jay still joining us. to me, this says a powell fed. what are you hearing? jay: this would probably be aj powell fed. it suggests one of the things that is in attribute of powell, he looks like a central banker. trump likes those things. you could probably say maybe powell. terms of his experience on the board, regulatory overview, which is to pull back from the regulations of dodd-frank, he fits what the trump administration seems to be looking for. alex is what about the relationship between the fed and the treasury? mike: it has been generally good. ruben, theays of bob sort of thing that bill clinton adopted. this suggests may be steve mnuchin thinks he has a good relationship with powell. does mnuchin think he can

everyone from christine lagarde to bank ceos.ptocurrencies may give existing currencies a run for their money. i have special concerns about virtual currencies partially because of the secrecy factor. we worry about large cash transactions because large cash transactions can be used for bad purchases. you create something that makes it easy to do that and it has those same characteristics. if bitcoin last. if it's a bubble or not. i don't see it as a credible competitor to the dollar because there's only one dollar. >> this is going to be the largest bubble of our lifetimes. bubbles happen around things that fundamentally change the way we live. the railroad bubble fundamentally changed the way we live. trade that i would fire them in the second. for two reasons. it's against our rules and they are stupid. a fascinating development which is certainly something more than just a fad. privacying for the protections it gives people and what does it say to the central banking system about controlling that. still with us is robert sinc

christine lagarde found guilty of negligence in the french corruption case in december hosts a meeting of global elites on the future of a controversial organization for those confident of i.m.f. incompetence there is good news though the i.m.f. forecasts a possible financial crash in nato countries because of the threat of something called antiglobalization given the i.m.f. director or this could well mean a boom except that new bank of england figures show a rapidly deteriorating rate of credit in the british economy household credit above two hundred billion pounds is approaching levels not seen since lehman brothers triggered the west into its worst crisis since the one nine hundred thirty s. the politics of britain fractured by debt and political uncertainty is examined in the new film out this friday the thirteenth the party directed by ward winning sally potter stars killian murphy known for films such as inception and twenty eight days later and television's edges peaky blind is going underground jeopardy had to just about impact i went to speak to him about his role in the fil

coming up tomorrow come in interview with christine lagarde . let's check on the first word news. emma: the wildfires in northern california are likely to have a long-term impact on the state's wine industry. four napa valley vineyards have been destroyed. things may be worsening bring sonoma county -- 2000 homes them of other buildings have been destroyed. president trump plans to make the case tonight for corporate tax breaks benefiting middle-class wage earners. the president is inspected to say the typical american household would get a $4000 pay plan.through his tax his own advisors and say on an annual basis, the average benefit is close to $500. the spanish prime minister is ramping up the pressure on catalonia to end its campaign for independence. taking the first up in a process that could strip the catalan government of its powers. the cabinet will formally asked the catalan authorities of they've actually declared independence. a shocking result for the u.s. men's soccer team. u.s. will miss out on the world cup for the first time since 1986. u.s. soccer partners are sp

remember to tune in tomorrow for tom keene's interview with christine lagarde.going to take place in washington at imf headquarters. coming up, stephen bannon is growing up midterm civil war in the gop and no one is safe except one senator. more on that next. this is bloomberg. ♪ david: we're watching the white house. justin trudeau stepping out of the limousine to meet president trump. the prime minister's wife as well. they are scheduled to have a bilateral meeting in just a few minutes. after that they will rake out into some larger meetings at the white house and then of course the president will be making his way to harrisburg pennsylvania for a speech tonight on tax reform. the subject of that speech will be on tax reform before an audience of truckers. inry: all of this coming up the fourth round of nafta negotiations. lookingteve bannon ahead to 2018 and he has a plan to take on virtually every republican senator up for reelection. he is declaring all-out war on the grand old party with targets on senators dean heller, orrin hatch. he has been one of the

christine lagarde told us when i asked kim and lagarde about the sustainability of this she says this real roots for a coordinated recovery in fact, she was just giving a press conference and did say ta europe is a growth leader. cramer was talking about that last hour. that is something new to discuss and could have legs. kim also said he sees this longer lasting and not as a moment in time the question is though, are they going to get too optimistic where it's a turning point and signal overenthusiasm. i will tell you they're still worried about debt levels both imf and the world bank kim is still worried about sluggish growth in africa, worried about climate issues and still telling policymakers look, now is the time to act this is not going to be smooth sailing. optimism with a dose of some worry and some policy advice i would say. >> we'll see how the tenor of the meeting changes as you make your way through the interviews. we'll talk to you in a bit sara eisen in washington just about half past the hour. sue has a news update. >> good morning, everyone. here's what's happening a

ross sorkin just wrapped up a panel in the saudi future initiative in riyadh, which included christine lagarde and larry fink they said we are witnessing a shift in politics and investment >> that order will certainly change but will be rooted in a sense of community, in a sense of culture that is badly needed for us, human beings, individuals that need to relate to a sense of belonging. to that's broadly brushed. my key message is if don't address those issues now, we may move into a darker scenario. >> populism is going to grow and grow it was interesting to see how the audience chose how technology will change the world. but technology will create more populism because technology will help many, but let's be clear what technology will mean is less human input in the manufacturing of items >> populism is so important to pause on for a minute because it really potentially challenges the formula which the global has benefited from over the last 30, 40 years if you think about populism being essentially about the system not working for a big part of the population, rewriting the rules, there's

what about the credit problems you know, christine lagarde has been an advocate for some chinese policieset it it's under control they're taking steps and measures to sort of address that problem. i think that's one that's out there. >> definitely. the debt issue, they have never reduced it it continues to increase quickly. >>> still to come, we've never seen stranger things happen on a corporate earnings call. why netflix's reed hastings was supporting this ugly christmas sweater. whuuuuuat?rtgage offer from the bank today. you never just get one offer. go to lendingtree.com and shop multiple loan offers for free! free? yeah. could save thousands. you should probably buy me dinner. no. go to lendingtree.com for a new home loan or refinance. receive up to five free offers and choose the loan that's right for you. our average customer could lower their monthly bills by over three hundred dollars. go to lendingtree.com right now. trust #1 doctor recommended dulcolax. use dulcolax tablets for gentle dependable relief. suppositories for relief in minutes. and dulcoease for comfortable relief

the international monetary fund on the world economy as you said positive outlook right now christine lagarde of the i.m.f. says that two thousand and seventeen is the strongest year since two thousand and ten and it will be more growth in two thousand and eighteen but at the same time both the i.m.f. and the world bank say we have to be careful we cannot be complacent because there are some risks at hand there's a tendency for more protectionism in many countries including the one we're here right now in the united states also there's a lack of investment so the i.m.f. and the world bank fear if nothing is done here. maybe the world economy is not ready for setbacks in the future. because of the financial community there is also saying good bye to german finance minister of all. are they sad to see him leave briefly if you can. yes they are because of course one of the longest serving finance ministers here and the germans who also presided over the g. twenty for the last months have made their focus on stability on reducing that on consultation of budgets so to bring the world economy into

christine lagarde joins us at 3:15 p.m. london time. this is bloomberg. ♪ is this a phone?net machine? it makes you wonder: shouldn't we get our phones and internet from the same company? that's why xfinity mobile comes with your internet. you get up to 5 lines of talk and text at no extra cost. so all you pay for is data. see how much you can save. choose by the gig or unlimited. xfinity mobile. a new kind of network designed to save you money. call, visit, or go to xfinitymobile.com.

tomorrow there will be an interview with imf managing director christine lagarde. of the most striking things about markets has been a surprising lack of volatility. our editor in chief sat down with cme group chairman terry duffy. they talked about how little geopolitical events have affected investors. a component ofs what we do. it's not everything that we do. theeed volatility to move markets so people can manage risk. at the same time there are fundamentals outside of volatility that will move markets whether it's geopolitical or others even though in light of what's going on in the world it is surprising how little markets have been affected by some of the events. when i first started in this business 27 years ago it had a very adverse effects on markets. reactor inear chernobyl blew up people believed eastern europe wouldn't be able to grow a dandelion for 10 years and the agriculture markets group. -- grew. you have the unrest in north korea and our own administration going back-and-forth with them. nothings happened. >> the market hasn't really reacted. th

coming up, christine lagarde will be speaking at the first day of the annual meeting in washington. for five minutes -- fed minutes at 2:00 p.m. eastern rn. maybe we will get more certainty from the minutes of that discussion. julia: don't miss this. the house ways and means committee congressman kevin brady will be joining bloomberg tv. that is at 1:00 p.m. eastern. he is going to be talking about tax reform. joe: that reform plan that paul krugman likes. julia: yes. scarlet: that does it for "what'd you miss?" julia: "bloomberg technology" his next. joe: have a great evening. this is bloomberg. ♪ retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. >> i am from washington, and you are watching "bloomberg tec

where we speak to christine lagarde. that will be on bloomberg radio.r from the world bank president at 10:20 in the evening in hong kong. yvonne: don't miss our exclusive interview with amazon's ceo of web services. that is in the next hour of daybreak asia. this is bloomberg. ♪ yvonne: a quick check of the latest business flash headlines. qualcomm has been fined $773 million in taiwan over how it prices mobile chips and patents. they say they have been violating antitrust rules from getting $13 billion in fees and not time. they have attracted scrutiny with investigations in south korea, china, japan, the european union, and elsewhere. second-largest insurer talking to banks about an ipo. aboutre seeking to sell 20% of their american businesses in the second quarter of next year. 54% in a lieude a us -- in alias. plans could change. kobe steel in the headlines, amid warnings more faith data could come to light. this is bloomberg. ♪ yvonne: 7:30 a.m. thursday in hong kong. beautiful outside this morning. started to get less humid. it is like the hong k

imf managing director christine lagua lagarde.pulations to mobile banking and e-commerce. trade and travel surge between emerging markets. everyday our 1,100 investment professionals around the world search out opportunities for alpha. partner with pgim, the global investment management businesses of prudential. at ally, we're doing digital financial services right. but if that's not enough, we have more than 8,000 ally's looking out for one thing, you. call in the next ten minutes to save on. and if that's not enough, we'll look after your every dollar. put down the phone. and if that's not enough, we'll look after your every cent. grab your wallet. access denied. and if that's still not enough to help you save. ooo i need these! we'll just bring out the snowplow. you don't need those! we'll do anything, seriously anything to help our customers. thanks. ally. do it right. >>> welcome back to "squawk box. the u.s. lost 33,000 jobs in september after hurricanes harvey and irma hit texas and other southeastern states. of course, in

i talked about it with christine lagarde, the fact that the global economy feels like it's firing on cylinders. how sustainable is that boost in consumer spending, as you see it >> i think it's quite sustainable. we have waited quite a number of years to start to see the economy coming back. clearly, our snacking categories are very correlated with gdp, so as we see gdp coming back and in fact growing in a number of our key emerging markets, that's a real tailwind for us so i think it's quite sustainable. it's not a full recovery yet we're still seeing some softness in markets like brazil, but they're a lot stronger than we had seen over the last couple quarters >> which sort of brings us to where we are right now you are stepping down in just a few weeks. this was your last earnings period as ceo. the business has just started to turn and you have put a lot of -- you have planted a lot of seeds. launching a new snack brand, rethinking markets and brands in certain markets. cutting costs, which has been a big part of the story. where are you in the turnaround or in the business that

listen to christine lagarde.ve technology of the imf. >> you know i always have thoughts >> i was waiting for you to unleash. >> target unveiling its holiday strategy this morning as it prepares for the busiest quarter in retail. we're joined next to talk target and the state of retail as we head into that all-important q-4, and let's check on where we stand in the markets record highs all around again. well, looks like we're backing off. still, the s&p holding its gain. the dow up a tenth of a percent. nasdaq underperforming, down a quarter of one percent stay with us and the wolf huffed and puffed... like you do sometimes, grandpa? well, when you have copd, it can be hard to breathe. it can be hard to get air out, which can make it hard to get air in. so i talked to my doctor. she said... symbicort could help you breathe better, starting within 5 minutes. symbicort doesn't replace a rescue inhaler for sudden symptoms. symbicort helps provide significant improvement of your lung function. symbicort is for copd,

. >>> amid all this, imf managing director christine lagarde, a policy speech ahead of the annual meetings next week fo that group sara eisen sat down with lagarde for an exclusive interview and asked her about the key takeaway from that speech. >> i would hope that people understand that they should not let a good recovery go to waste. and they should take advantage of that recovery to actually drive change that will make recovery more sustainable, more inclusive, and more balanced >> you can catch the rest of that interview tomorrow on "squawk on the street" and throughout the day on cnbc head to our website at cnbc.com to watch the live stream of that speech that she'll make. that's tonight at 6:00 p.m. eastern time >>> and now it's time for cnbc news update with sue herera. hi, sue. >> hello, kelly, hello, bill a senate committee questioning a panel of federal health care officials about ways to fix the opioid epidemic in the u.s. saying the crisis is tearing apart communities and families one senator worried a proposal to repeal medicaid expansion could prevent people from getting hel

we begin with the ishlmb perhaps throwing its hat into the cryptocurrency point, rath christine lagardento a digital global reserve currency. michael, here's the thing. digital crypto, otherwise, i don't see sgrs gaining traction as a global currency >> certainly not with the same constituency that really thinks true cryptocurrencies are the future no i think it's interesting, though, because it already is in a sense a stateless currency even if it is just kind of for booking accounts, you know, and international reserves and trade. so it may be the idea of pursuing it, hey, look, if there's a possibility of facilitating global trade, using blockchain somehow to do that, maybe. but to me, it's -- nobody's really asking for this it's the imf deciding investigate it. >> chinese are kind of asking if it because they don't like the dollar that the dollar is the world's reserve. >> they'd like something inst d instead. >> even that something is based on a value of all the other currencies if you tell me one day we live in a world where everybody is using the same currency, you start to lose

alix: we will be speaking to olivier blanchard and christine lagarde will be on bloomberg televisionshe has a lot to say about central banks. david: there has been a lot of tussle in washington between the ofsident and bob corker tennessee. it has raised real questions about the progress of tax reform. people close to the president saying this is serious problems for tax reform. kevin cirilli is in washington. trouble is it right now for the president's tax reform on the hill? >> let's pull up the presence latest week that he tweeted out less than 10 minutes ago. he wrote, the failing new york said little bob corker up by recording his conversation, was made to sound of full and that's what i'm dealing with. he is alluding to the new york times releasing the audio recording of senator bob corker's interview with them from just the other day. this is devastating news for the administration's efforts to a cop was tax reform. simply because senator corker is someone who has a prominent republican stature within the establishment. yesterday i spoke with the administration as well as othe

tomorrow, a conversation with christine lagarde, the managing director of the international monetarys, yes on president trump. this is bloomberg. ♪ francine: a big noise from -- news from rain saying he is starting a protest that could lead to suspension of the catalan government here to what he is talking about is basically triggering article 155. there is an article where central government can control catalonia if they believe it is interest for the rest of the country. i don't know how this would go down especially if it is the same police we saw disturbing pictures of two weeks ago disrupting what spain calls illegal referendum. something we need to keep an ion. usually the shorter conversations are the more important ones. i would note that in the " washington post" this morning, eric gunderman, looking at the bloomberg terminal, the myth of massive support for independence in catalonia, one take from america this morning. it is now time to do what we need to do every day, catch up on all inside the beltway. our chief correspondent kevin cirilli joining us this morning. kevin,