louis official christopher waller as his next pick. this year, trump advanced to supporters to the fed board. both withdrew their names after they came under criticism. the trump administration has plans to add a question about citizenship next year's census. the supreme court blocked attempts to answer the question last week. the admin attrition has now dropped the fight. the justices said the question was contrived and did not meet legal requirements. the stay is set for april 1. its fourth of july sneakers after facing criticism that the design was offensive. a local of an old u.s. flag with 13 stars. an emblem embraced by white nationalists. the arizona governor doug ducey said nike ordered all financial incentives for a new manufacturing plant be withdrawn. faceron ore miner may criminal indictments for 12 current and former executives over january's dam disaster. a brazilian senate committee is proposing charges after investigations into the collapse that killed almost 250 people. it said its risk and compliance control. vale dis

if you look at the minutes, christopher waller was certainly there for some of those meetings. some somewhat unconventional views, but again, none of the incendiary extracurricular baggage that some previous two had. these two probably have a better shot. paul: dan, to what extent do these two nominations send across the bow of jay powell? might beably less than initially imagined. again, waller is a senior official at a fed district bank. if we take a step back, one thing i learned in my years of being responsible for fed and new york is the federal reserve is essentially run by five people. the chair, the vice chair, the head of the new york fed, and two folks who are not household names. the person who runs the system open market desk at the new york runs thethe chap who powerful staff at the division of monetary fair -- fed. divisions at the fed hq are referred to as barony. right now he is enormously influential. these five people are the core of fed decision-making. others manner but these five are the core. it is important not to lose sight of that. shery: what are we ex

christopher waller is going to be pressed on the idea of whether or not he's a company man.may have opinions, but at the end of the day, he will be told what to do because that's how the fed works andvote along th lines that the fed kind of wants him to vote and not along the line of his opinion. does he have the ability to push back, say no and decent. if they can answer those two questions. i can explain my differences, i think they could be very good picks for the fed. >> jim, how in the interview were you asked if you would vote to cut rates or not? >> well, i am a dove i do think that rates should be cut. i made the case that there is low inflation. that was definitely one of the hallmarks of what i stressed when i was there and that's not new i've been saying that for well over a year. so, that's been a well-known fact about what i have been saying about the fed >> we'll leave it there, guys. jim, nick and josh, thank you all very much. happy fourth to you all. >>> coming up, much more on the record close for all three of those major averages >>> stephen moore and sara

christopher waller's director of research at the st.ouis fed and was previously a professor of economics. annwhile, judy shelton is informal adviser to the president and her unorthodox views could attract opposition. struggling to recover after suffering its worst reaction to an opec meeting in more than four years. concerns are overshadowing the decision to extend output cuts for nine months. energy minister tells us opec and allies will respond to any disruption. >> the market can change very quickly, as can situation and shall production. nobody would guarantee today that the supply could grow --ough would be maintained the supply growth rate would be maintained. tothe u.s. has beat england secure a place in the world cup final. withd-fought 2-1 victory england missing a penalty less than 10 minutes from full-time. the u.s. will play the winner of today's semifinal between the netherlands and sweden. global news, 24 hours a day on air, on tictoc, and on twitter, powered by more than 2700 journalists and analysts in more than 120 coun

and has now nominated christopher waller and judy shelton to fill the vacancies. joining us for an exclusive is the writer of that piece, alan blinder, a man who has not been in a james bond movie that i know of, but professor blinder, good to have you on the program. do you really think that is the tactic, or do you feel that maybe in this environment, it is simply more difficult to locate and find people willing to take the job? >> no, i don't think the latter at all i think that's definitely the tactic look how it changed. his early appointments to the fed included randy quarrels and rich clarita, two very fine appointments not controversial in the least perfectly well qualified and then he runs off track lately so no, i don't think it's hard to find qualified people >> you know, we actually had scott minored on of guggenheim he broke the news he has been either approached directly or hinted, he wouldn't go into all the details, but it indicates they're out there looking. professor, they are looking. if you could find the perfect person, obviously, i read the o

christopher waller is director of research.s previously a professor of economics at the university of notre dame. judy shelton is an informal the president. she spent decades outside mainstream economics and her unorthodox views could attract positions. the trump administration has abandoned its hard-fought battle to add a citizenship question to the 2020 census after the supreme court challenged its purpose. it is a sharp reversal by the white house. trump saying he has looked to delay the census after the court put the plan on world. beat england to secure a place in the world cup final on sunday. it was a hard-fought victory with them at a penalty less than 10 minutes from time. the u.s. will play the winners of today's semifinals between the netherlands and sweden. global news, 24 hours a day, on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. ,ejra: debra mao in hong kong thank you. italy's populist government is cutting its 2019 deficit goal to

look at the first couple of meetings of the year, certainly a rollcall in a minutes saying christopher walleras there. he is a frequent guest on bloomberg tv. littleelton is a different. she is advocating from positions that are outside the mainstream, and has been fairly full throated in her support for donald trump's program. again, she has been careful to stay on message. the kind of skeletons what's brought down the previous two candidates don't appear to be a factor this time. let's move from the fed to the european central bank. christine lagarde could be the first woman to run that central bank. she is a unifying candidate, that she has never been a central banker as many of her predecessors have been. wait for a second. for many known her years. i am absolutely sure that she would be very independent with the central bank. >> christine lagarde is someone we know very well in ireland. she will continue the policies of mario draghi, keeping interest rates low. >> i believe she has all the necessary skills to head the central bank. >> i don't believe christine lagarde has enormous experi

louis official christopher walker -- christopher waller as his next hit.reviously a professor of economics at notre dame university. >> chris waller from the st. louis fed -- i wonder if this is not laying the grounds for the administration to continue pushing towards jim bullard coming on as the fed chair. certainly, they have had some outreach to him, and the president is not happy with jay to policy.proach maybe this is laying the groundwork. we will see how that pans out. >> it is an interesting effort by the president to definitely politicize the fed, particularly when you see what judy shelton said about her nomination yesterday. statement that a said, "the president really gets it. his progrowth economic agenda should not be undermined by wrongheaded phillips curve thinking that punishes economic growth and subverts continued gains." she is going to go into that board room defending the president. ♪ strong jobgot really numbers today. how could the fed justify a cut with those kind of numbers? >> we can see the economy is on a good footing here. the

christopher waller is solid. in the case of judy shelton, she was on the campaign team.ld there be a deeper story in this? there have been rumors and trump has mused if it would be legal to switch the chairman early. what would happen if we get the dovish policy he wants? you can say it might be crazy, but crazier things have happened. hisink that tying in with repeated criticism of fed policy, you have to at least have an outside chance to think the unthinkable. that's why it is worrying people. for markets, it is quite attractive. you get an even stronger fed put , and he is probably irish on the dollar, bullish for gold. lagardeou got christine for the ecb, a former politician. trump got shelton, and clearly trying to politicize the fed. is the era of central-bank they getting to get eroded? guy m: i think what is happening is a natural handover from monetary to fiscal policy. qed,ave the backwash from negative rates, inflation. there is a need to stabilize property prices, there is a need for policy tools that are not monetary. latee it with trump's cycle stimulus, a

of the bank and said interest rates should come as soon as possible and his second pick is christopher waller both nominees will still require senate confirmation. let's check in on u.s. futures ahead of the market open in new york after a seventh record high for the s&p 500, it is looking to open up at least 9 points higher the dow jones similarly looking to have a positive start to the day as is the nasdaq that is it for today's show here in london. i'm willem marx. thanks for watching. "worldwide exchange" is coming up in a few moments. when i was diagnosed with breast cancer, i went straight to ctca. after my mastectomy, i felt like part of my identity was being taken away. my team made me feel whole again. cancer treatment centers of america. appointments available now. cancer treatment centers of america. take prilosec otc and take control of heartburn. so you don't have to stash antacids here... here... or, here. kick your antacid habit with prilosec otc. one pill a day, 24 hours, zero heartburn. i was on the fence about changing from a manual to an electric toothbrush. but my hygienis

this is his first testimony since the president says he plans to unemployment christopher waller anded critic judy shelton to the powerful board of governors. trump has criticized the fed over interest rates saying the bank is the most difficult problem facing the economy today. expect lawmakers to question powell about the independence of the fed amid all of the pressure from the president. despite that pressure, listen to what white house economic adviser larry kudlow said about powell's position. >> there is no effort to remove him. i will say that unequivocally at the present time. yes, he's safe. >> that didn't stop the president from bashing the fed and powell any chance he gets. investors will listen for clues about where interest rates will go. until now the market's been pricing in an insurance rate cut buffering future deterioration in the economy. look, resilient jobs numbers hardly make the case for an aggressive move. look at, this average monthly jobs growth has ticked up to 172,000 a month. the smallest in a decade, but it's been a very big decade of jobs growth. that

christopher waller and judy shelton. trump announced his plans in a tweet tuesday, but it's unclear when he'll make the nominations official. waller serves as executive vice president at the federal reserve bank of st. louis. shelton is a longtime fed critic who has publicly supported trump's views on currency. in a paper last year she wrote, quote, we make america great again by making america's money great again. trump's previous nominees steven moore and herman cane withdrew after criticism. there's also a nomination for europe's top stop, christine lagarde has been tapped as the next president of the european central bank. an appointment that would make her the first woman to lead the institution. last year "forbes" ranked her third on its list of the world's most powerful women behind only angela merkel and teresa may. >>> putting his foot down without a nike swoosh on it, mitch mcconnell slams nike after the withdrawal of the shoe because of the american flag. the company had concerns it could unintentionally offen

noting that christopher waller serves as an executive.ve at the european bank and a former adviser to the trump campaign. >> and cnbc willem marx joins us live from london. president trump's expected nominees were considered controversial choices. and they eventually withdrew themselves. what's been the reaction to the latest picks? >> just to say the previous two nominations were steven more and herman cain. one noted conservative economist who essentially withdrew because he didn't like the scrutiny that came with it. candidate, he of course said he didn't like the idea of taking a pay cut that would be necessary to take the position. we have seen the details over waller and shelton trickling out. people paying more attention to this. waller former academic, running the research team at the fed for about a decade and shelton really quite a big critic of foreign fed policy. she suggests the interest rate should be cut to 0. she has talked about unauthorized ideas, things like pegging the dollar to the gold price, so a lot of questions ar

announced plans to elect two new federal reserve governors, his picks are judy shelton and christopher waller waller is an economist at the st. louis fed. shelton serves as the u.s. executive director at the european bank for reconstruction and development. she supported returning the united states to the gold standard shelton has not been a fan of the fed. in a recent interview she said the central bank should lower rates. >>> let's get another check of futures. the s&p implied open up 10 dow jones up 77. nasdaq futures up 40 points. downing me is matt mele from miller taybach great to see you we have seen a lot of movement in the markets this week in the semiconductor off news that restrictions would ease somewha. we saw a big rush, and then a pulling back tell me what's happening in the sector >> it's one thing we have to worry about now with this big move in the stock market of course the semiconductors have been a good leadership group. they warned us about the fourth quarter deep correction when they rolled over early they led the market higher in the first half of the year with huawei

christopher waller is director of research at st.ed and previously was professor of economics and the university of notre dame. judy shelton is a formal advisor who spent decades with her unorthodoxed views. the trade war could lead to a widespread slowdown requiring a major policy response according to the bank of england mark carney and says the u.k. faces the additional threat of a no deal brexit and reiterated his review of a smooth divorce could lead to higher interest rates. >> the intensification of these global trade tensions have increased the downside risk to u.k. and global growth. the way we conduct policy today is we have to deal with the impact of the uncertainty around those events and how they influence the behavior of households and businesses and financial markets. viviana: lee iacocca died at the age of 94 and came to prominence 1960 when he was named general manager of ford and they see his crowning achievement of saving chrysler from going bust in 1980 and curber -- ushered in the eara of the celebrity auto execu

christopher waller is currently st. director of research, but what it says is that if you look back at 2018, you had fmoc unanimous vote on every move the fed made and it might be good to have actually some different perspectives and thoughts on the economy on the fmoc economy if you believe like i do that they made some grave errors in 2018, i believe having some dissent will be good. >> thank you very much for taking the time to chat with us. brett ewing from first franklin financial services all morning we have been talking about the huge radical transformation plan announced by deutsche bank over the weekend i want to flag that the shares have now turned negative on the session down .7 percentage points up 4% at one point could be a bit of profit taking after 6% jump last week. >>> that is it for our show today. i'm joumanna bercetche. >> i'm julianna tatelbaum. thank you very much for watching (client's voice) remember that degree you got in taxation? (danny) of course you don't because you didn't! your job isn't u

judy shelton and christopher waller and the president's current pick for the central bank board, toldeed powell in the top job. boris johnson looks for a landside victory in the race to become britain's next prime minister. according to a poll, it will get 24% of the vote. former secretary-general he hunt getting only 20's -- jeremy hunt getting only 20 per six -- 26%. boeing 737 max's losses -- saudi arabia budget fly deal reversed the complaint to buy 50 jets. it will operate an airbus fleet. that's a setback for boeing, under pressure to prove the max is safe again after two crashes killed people. the u.s. soccer team won the world cup, beating the netherlands 2-0 in the final. it's a back to back trying just triumph for team usa. they will fly back for a parade in new york city wednesday. global news, 24 hours a day on air and at tictoc on twitter, powered by more than 2,700 journalists and analysts in more than 120 countries. this is bloomberg. anna? anna: thanks very much, annabelle droulers in hong kong. vucevic unveiled a radical overhaul, cutting 18,000 jobs and exiting the e

. >> david, those nomies are christopher waller and julie shelton. the first is a traditional pick.ntroversial. waller is the research director of the st. louis fed he has been at the bank for a decade alongside jim bullard, who is calling for a rate cut. the white house reached tout him last month he met with president trump yesterday. he hasn't given a lot of speeches he wrote a white paper in 2011 that defended central bank independence and warned that it needs to be held accountle he wrote if a central bank's policies are not credible, then the bank will eventually lose the support of the nation's policymakers and maybe its independence now, of course, judy shelton is someone familiar to our viewers. a vocal advocate for sound money including a potential return to the gold standard and arguing for an immediate rate cut. after her nomination was announced she tweeted she will strive to support the pro growth economic agenda with the appropriate monetary policy. now, president trump has struck out so far in his fed nominees this year. he is 0 for 4. but bundling these two together

christopher waller was previously head of the economic departments at noter dame and the university of kentucky judy shelton was an adviser to the president during his 2016 campaign and serves as u.s. executive director for the european bank of reconstructed shun and development she said if appointed she would lower interest rates to zero percent in one or two years, echoing calls from president trump to lower rates make sure to tune in friday, 11:40 a.m., dr. judy shelton will be on what do >> what does it take >> zero is unnecessary at this point. pegging to gold, that's so old school >> she has said she is elevated to the fed board, she would not advocate pegging the dollar to gold >> how does it color everything else you think about the world >> you're pivoting on policy just to assume the position? >> why would you do that >> i agree >> she's putting herself in a bad set wayituation people say i don't want anything to do with the dollar pegging gold zero interest rates scare the heck out of me >> neither of those extremes are expected what this means short-term for the markets is

christopher waller is the more conventional choice.nt decades outside of mainstream economics. she has already been criticized for her unconventional views and has been advising the president. christine lagarde will become the first woman to run euro area policy. the imap managing director was nominated to replace mario draghi as the head of the european central bank. she will be taking over just as the eu appears to need fresh stimulus. china may buy u.s. farm products as a gesture of goodwill. the volume is likely to be smaller than before. how much will depend on the progress of the newly restarted trade talks. global news 24 hours a day, on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. hurtado.ana this is bloomberg. david? david: coming up, the race for the white house. we will speak to tina boredom, citigroup chief global financial analyst. her take on what will influence voters in 2020. that is next on today's follow the lead. live from new york and london, this is bloo

president trump is about to nominate judy shelton and christopher waller to the federal reserve.lton is a fan of the gold standard which is a very interesting thing. that's one reason i think gold is popping today, because -- actually because of what's happening in europe. if shelton is actually put in at the fed, the united states central bank policy could be exactly diametrically opposed to what's happening in europe with christine lagarde, right? >> not necessarily. she's definitely dovish in her approach in terms of the federal reserve. david: she's not in favor of negative interest rates the way lagarde is. >> no. david: she's in favor of the gold standard. >> which i don't frankly understand. i think that's going to be a problem for her facing any kind of confirmation hearings, because the gold standard, the idea of a gold standard is anachronistic at best. the idea of that happening is zero to none. that's a bit problematic. david: i am hearing, by the way, the reason i'm skeptical, shah, i don't mean to be obnoxious about this but i have been hearing more talk in washingt