christopher waller says 75 is a way to go. your take? mike: i think waller will be influential.one of the most out front when they would to 75. he has been one of the more hawkish members of the board of governors. he made a good point that esther george made in her dissent last time that you don't want to go too far, especially if the chances of recession or a significant slowdown are growing, because, you could find yourself in a slowdown or contraction. then, the monetary policy you did a couple months ago makes things worse. so, we will see what the data show. but, waller at this point, i think, is most likely to try to lead people to 75. jon: it's been a big conversation this week, mike, with the bank of canada making 100 basis points of the new 75. speaking of canada, the bank of canada governor's feeling some heat from the markets on whether or not this country can't navigate a so-called soft landing. you got into those details specifically with waller talking about the current state of the job market. maybe, you can elaborate on that front? his perspective there? mike: w

this month, governor christopher waller and the st.ouis fed president said they need to curb inflation as the economy is headed toward recession. another report on whether elon musk's acquisition of twitter will go through. the deal may fall apart over his doubts about they are reporting the number of spambots on the service. twitter continues to share information. the wife of john paulson has accused him of creating a series of trusts to hide aliens of dollars from her in their divorce. she sued him in new york, asking for $1 billion in damages. paulson has a net worth of 4.6 billion dollars. global news 24 hours a day on bloomberg and bloomberg quicktake, this is bloomberg. what if you were a global bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of ai. now you're making smarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million

. >> reason we are focusing on recession fears is we heard today from the fed governor christopher waller talking about backing up i -- hike of 75 basis points. the markets have gotten a little bit ahead of themselves pricing and a 100 basis point move. waller said the 100 basis point hike is still on the table but he still has to look at the data. let's bring in our guests to discuss this more. is 100 basis points on the table are not? >> it's important when you hear from hawks, the bank presidents, the governors going toward a charge for more aggressive rate hikes. chris waller speaking in idaho today including speaking on bloomberg through a panel said that he was keen on a 75 basis move. maybe 100, but it's all about watching the data. let's listen to what he said in his remarks. >> i fully support another 75 basis point increase. however, my base case for july depends on incoming data. we have important data releases on retail sales, housing, inflation expectations coming in before the next meeting. if that data is materially stronger than expected, it would make me lean toward a lar

meanwhile christopher waller says he supports raising interest rates by 75 basis points this month andis points in september. he says fears of a recession are overblown. waller is a voting member of the fomc this year. >> we need to move to a much more restrictive setting in terms of interest rates and policy. we need to do that as quickly as possible. i am definitely in support of doing 75 basis point hike in july. probably 50 in september than after that, we can debate whether to go back down to 25. inflation doesn't seem to be coming down, we could be doing more. >> twitter shares slumped after the bell after news that elon musk's takeover could be in jeopardy. his team has reportedly stopped engaging with funding discussions. twitter says it intends to close the deal at the agreed terms. roughly on the doll has withdrawn from wimbledon because of a torn abdominal muscle. he was supposed to play his semifinal later friday but says he is into much pain. the controversial australian star is directly into his first grand slam final where he will raise novak djokovic or the british play

today, christopher waller will be speaking about inflation and monetary policy. that's taking place at an event hosted by the national association for business economics at 1 p.m. eastern on c-span. later president biden will award the late senator john mccain and 16 others the presidential medal of freedom which is the nation's highest civilian honor. live coverage begins at 2:00 p.m. eastern. you can also watch on our free video app or online at c-span.org. andrew desiderio is with this. he covers foreign policy issues. he is with us this morning to talk about codels the whole purpose and reason and a little bit of history behind delegation trips. first of all defined what a codels is. guest: it is an abbreviation former congressional delegation. they knew they could use it to their advantage, the senate is going to have to vote on nato's exception for finland and sweden and that is why they went to nato to deliver that message on behalf of the administration. this is not a controversial issue in the united states. there are so many issues that divide us when w

today, christopher waller will be speaking about inflation and monetary policy. that's taking place at an event hosted by the national association for business economics at 1 p.m. eastern on c-span. later president biden will award the late senator john mccain and 16 others the presidential medal of freedom which is the nation's highest civilian honor. live coverage begins at 2:00 p.m. eastern. you can also watch on our free video app or online at c-span.org. andrew desiderio is with this. heov

. >> federal reserve board governor christopher waller discusses inflation, saying that the higher it goes, the more it hinders economic activity. the discussion is hosted by the national association for business economics. he says the federal reserve is committed to getting the inflation rate down to 2%. this discussion is in our -- an hour. >> it is our pleasure today to have christopher waller join us. people are familiar with his background, so i will keep this brief. he joined the federal reserve in 2009, the beginning of the recovery or the end of the recession of the global financial crisis. he had a very distinguished academic career in the university of kentucky and notre dame. and today, as of december 2020, governor of the board of the federal reserve. most impressive is that governor waller is kentucky colonel, and arkansas commander. of his list of accomplishments, those are two things. let's step into this and i will remind everyone that the queue and day -- q&a will be open to monitor the incoming questions. we start of >> yeah. my position is driven mainly by inflation

i want to bring up waller, christopher waller, and the point being when it comes to that is he -- along with bullard of the st. louis fed -- pushing a 75 basis point hike. phil, fed funds futures started to topple because earlier they showed an 85% probability of a 100 basis point hike morning, a full percentage point. what would get the uber hawks of the fed to become more hawkish to that 1% between now and july 27th? we already got ppi, we got cpi. so here we are, we now are at about 45% shot of a 1% jump. >> i think the pact that the market is giving them the cover, 100 basis point increase, i think the fed when they sit could be on july 27th are going to take the opportunity to do so. that feeds them into the jackson hole meeting at the end of august. i think powell would love to go to the podium and take a victory lap to some cree and say, look, we've been aggressive over the course of the year, not just the hiking of interest rates, but the qt as well. liz: right. >> and maybe july data, which we're going to see in a month, will start to show a peaking and a rolling over in which

. >> christopher waller will be speaking about inflation and monetary policy. that starts at 1 p.m. eastern on c-span. president biden will i worked late senator john mccain and 16 others the presidential medal of freedom which is the highest civilian honor. live coverage begins at 2 p.m. eastern on c-span and you can watch on our free c-span now viaf

su: we start with the fed governor christopher waller.said he's -- interest rates by 75 basis points this month, probably 50 basis points in september. fears of a recession due to higher borrowing costs are overblown, stressing the urgent need to tame inflation. he's a voting member of the fomc. >> we need to move to much more restrictive steadying in terms of policy. we need to do it as quickly as possible. definitely in support of another 75 basis point hike in july. probably 50 in september. after that, we can debate whether to go back to 25. inflation just doesn't seem to be coming down. we have to do more. su: meanwhile, size and strength in the u.s. labor market may be monitoring -- moderating. rose last week slightly to the highest since january. initial jobless claims were up 235,000. the moving average has been higher in 12 of the last 13 weeks. and the state bank of pakistan raised rates by 105 basis points. a move predicted by only three of our economists in a bloomberg survey. and to meet conditions for a loan from the imf. ce

manus: christopher waller there lending his support to the 75 basis point hike this month. markets have also given the fed a vote of credibility. five your breakevens falling from their march peak. therein lies the point. we've had this conundrum. when the breakevens rollover and yet yields manage to rally. our guest is semin soher power. good to have you with us. powell is one of few people to correctly guess last year's jump in inflation. no pressure on you this morning. good to have you with us. what do we have in terms of whether inflation has topped out? how quickly do we travel from 9% to 5% to five percent to 2%? very different goods -- discussions. good morning. semin: good morning. markets are playing this year. really extort mary situation. totally dependent on the price action. it's very interesting that the market focuses on u.s. recession fierce. they have seen breakevens significantly lower. we will see stabilization. we will see a pullback by the end of the year. the way the market is treating inflation, we are seeing interest rates being frontloaded. obvious

you will hear comments from fed governor christopher waller. speaking at 11:00 a.m.nvestors have a lot to digest on their plate maybe the fed going a full 100 basis point hike late they are mo later this month among that, let's bring in sylvia jablonski sylvia, i reeled off a laundry list of issues on balance, is this market one where you can put money to work? >> dom, you listed what sounds like the perfect storm the good news is the market has readjusted to that and the market revalued. we had s&p down 20% at the lowest point and now around 20%. nasdaq with the 30% mark i think a lot of these stocks are now actually on sale and in a tradeable level. i can't call the bottom. the way i look at this is what i see stocks on sale 20% or 30% off highs and a longer-term outlook and not using that cash to live on i can't call the bottom or top with inflation i see things that make me interested commodity prices budging 20% it is a backward looking number that has been priced in. oil and gas and rents and mortgages coming down a little bit. all-time terrible sentiment with

let's move onto the first word news and have a look at the fed governor christopher waller.ys he supports raising interest rates 75 basis points this month, and probably 50 basis points next month, on fears of recession due to higher borrowing costs, and he is stressing the urgent need to tame inflation. he is a voting member of the fomc this year. >> we need to move to a much more restrictive setting in terms of interest rates and policy, and as quickly as possible. i am definitely in support of doing another 75 basis point hike in july, probably 50 points in september and then after that, we can debate whether to go back down to 25 or if inflation doesn't seem to be coming down, we have to do more. rishaad: hong kong's longest-serving market regulator will accidentally leave the post . ashley alder will take up a numeral in january. . it marks one of the highest profile departures from hong kong's financial sector. the regulator is saying that recruitment for a successor will start soon. we are looking at twitter shares, stumbling after the bell on a report that elon musk'

we are speaking to christopher waller.ember of the board of governors federal reserve pride you said you favor 75 basis points and you would consider 100 given how the data comes in. this 100 ideal blue up this week. what would it take to get you from 75 to 100? mr. waller: 75 is my base case. we knew this inflation report would be ugly and it was. it was just uglier than we thought. 75, which there was some concern was not to happen is now in my view should definitely happen. with the report did yesterday was anchor. i don't speak for the rest of the committee. but for myself, 75. we do not want to make policy on one data point. but this is another reading in a long sequence very high inflation. and with the data on the real side economy showing this paradox that the real side looks to be softening, you are kind of in this thing, you don't want to overdo the rate hikes. a 75 basis point hike is huge, don't say because you're not going 100 you are not doing the job. so like i said, if i see the incoming data in the next tw

kriti: that was jim bullard and christopher waller talking about raising interest rates by another 75is points this month playing down fears that the u.s. economy is headed for a recession. that takes us back to our question of the day. what recession? payroll numbers came in fairly strong. dominique dwor-frecaut, thank you for joining us. you have dated this week that has been quite strong. at the same time, sentiments are at a decade low. spending data out of the united states remains fairly strong. there are diversions is in what the economy is telling us. let's start there. what recession? >> there is no sign of impending recession. i think what will be needed for recession and what is coming is much, much higher fed funds than we currently have/ . currently, no sign of recession. guy: you, last time i spoke to you, suggested the fed would have to go -- are you still of that view? dominique: definitely. especially with the data we got today. basically what we are seeing is the development of a wage price spiral, which is not surprising because depending on how you measure it betwe

governor christopher waller and james bullard stressing they need to get policy in restrictive territory to combat fl inflation. they are playing down fears the u.s. economy is headed for recession. let's bring in gina sanchez. our cnbc contributor i don't know if you saw the movie "platoon" with charlie sheen. his troop mate says, wrong, right, you ain't never been right about nothing. that makes me think about the federal reserve. we have to listen to what they have to say. they whiffed on so many things for so long. what is your level of faith in the fed? >> the fed is very, very, very late to taking away the punch bowl at this party this party has gone into overdrive. now they are attempting to do their job, they're doing it in a ham-handed manner. right now, i would say the chances of the fed is right are low. there are those that argue we are probably already in recession, at least a mild one nobody thinks we're going into a steep rehe scesrecession. there is a meaningful concern that the very aggressive rate hike that's targeted against inflation that's being driven by commodities

vincent reinhart of the fed knows well, christopher waller is truly one of our great thinkers on economics, the governor of the federal reserve after his ownership of research at federal reserve bank of st. louis. i want to dive deeper into jerome powell, the central banker of the world and bounce off lawrence mcdonald and his appearance yesterday and the great work of damian sassower. we quote the dow, we quote the standard 500, focus. the five year yield each up, lisa, is 16.5%, it has gone from par down to 72 with three days of erosion this week. em bonds are graham, according to damian sassower. lisa: and according to every metric you look at, because of issues having to do with commodity prices spiking with a lot of these nations being commodity importers. i think of egypt and how hinged they are to ukrainian wheat. if you think about the butterfly effect that is going on globally, it is creating distress. tom: as you prepare to get the delight 27 fed meeting tomorrow, -- july 27 fed meeting tomorrow talking to the international monetary fund into august. annmarie knows this, it is 10

christopher waller said this quote which i think stands out to me.ig rate hikes when the economy is strong and the labor market can take it. this is the strong window the fed has to be this aggressive and try to get ahead of what is maybe deemed potentially over the feks few months the job market is going to slow down and consumer spending is going to slow down. we're definitely seeing inflation has hit the lower income households especially bank of america's credit card and debit card data shows spending among that sector fell over 1% year over year, and we all know the economy draws over two thirds of growth from the consumers. >> what's it going to take to feel confident we're actually heading in the right direction here? >> that there's no more mixed signals. let's be clear before the pandemic it was clear what specters were growing, why it wasn't growing. right now we are seeing job losses, we're seeing investments incompetence, we see the stock market going up and down because of the lack of confidence. and part of what needs to be moving forwa

finally, we have the fed, but as tom alluded to, we will get updated thoughts from christopher waller and jim bullard later i. waller be producing -- participating in an interview. there will be an initiative for a .75 basis hike this corporate we will be paying attention to their remarks. jonathan: thank you. just look at the bond markets. point 2%. negative six basis points. tom: greater curve inversion is interesting, and for the pros, each nuance of curve inversion matters. it has given ways ever so slightly before we dive into the number 10 downing street. the yen is jonathan: giving way. we are looking for a statement at noon. jonathan: will get the latest report is 40. we can do that with lizzy burden at number 10 downing street. i want to come straight to you. the pressure is building for yesterday. what is change this morning? lizzie: there was a business as usual cabinet meeting. a newly repointed, less than 48 hours in the post, and his colleagues to him that he needed to root -- resigned, and that was the turning point where boris johnson realized he needed to do the thing

with the labor market softening up, and speaking of the federal reserve's, we will hear from christopher waller and jim bullard speaking it separate events at 1 p.m.. this is an updated take from the minutes we got yesterday, which is of or three weeks old. how is thinking about, as we get closer and closer to the july meeting. >> thank you. very much. we may hear from the prime minister, potentially, in 25 minutes, according to sky news. 730 eastern time, maybe 1230 local. at the end of the day, who does. >> i don't think anyone knows. we are listening to reports that, perhaps he is considering staying on as a caretaker the and. ask i don't know if the apparatus is like an united states of sowa messages is out and the first women's. you usually work it out from there. we need to talk about this market, we can do that. the managing director of world creek groove. let's start here. >> the everything pain portfolio it is anything working in 2022? you talk to uncertainty, just as much in the markets. there are three themes that everyone is talking about, and used to be short-term themes. now it wi

just in the last hour fed governor christopher waller says he is backing another 75 basis point hike at the fed's july meeting. joining us now, michelle girard and paul chrisner. i think that's the big question for investors, michelle, is whether the fed once again will follow the markets, maybe not in the next meeting, they'll do 75, which is the expectation, but just in terms of cooling down the rate hikes here on signs that inflation is easing >> yeah, i think that's exactly right. the market has priced in a lot of fed tightening. we're looking at a funding rate over 3%. i think the expectations are most likely 75 basis points in july, maybe another 50 in september. but, you know, will that be essentially it, even if they do a little bit more between now and year end, do we need to reprice even higher or is there a risk the fed could have to do more right now as there's signs of inflation cooling, as there's signs of some cooling in terms of the u.s. economy, it doesn't feel like that that -- that the market needs to worry about th fed doing even more. i think that's what tomorrow

federal reserve members pushing their agenda, fed governor christopher waller confirming he will support a 75 basis point hike in july. but a soft landing is possible. just minutes later in little rock, arkansas, federal reserve president jim bullard echoing waller saying the labor market is so strong, it could cool off and still be strong. >> we're always cognizant of risk, but i think the base with case is for something -- cheryl: so anyway, the atlanta fed's late latest estimate puts the economy contracting at 1.9%. bullard also saying people are mistaking a slowdown in growth for a recession. so when you have a tightening economy, rising rates but a strong labor market, what is the recession risk? let's go to our floor show, scott bauer and steven sarge guilfoyle. scott, you probably heard your name because i was saying i'm coming to to you first on this one. >> i was ready. cheryl: yeah, i mow, right? i'm giving you hints. you made some really interesting comments in your analysis morning. you said, look, if the jobs report comes this many week -- weak, in your mind that that means

if the fed >> we have live remarks from federal reserve board governor christopher waller speaking about inflation and monetary policy in an event hosted by the national association for business economics, lived on c-span. -- live on c-span. >> -- and a webinar at wednesday, july 27 at 2 p.m. eastern time. register to -- register to view the full schedule. please go to our website for more information. the educational offerings are open for registration. please visit the website you see here to a beautiful schedule. join us for the 64th meeting in chicago illinois in october, please go to our website for more information. finally just a reminder -- note we have q&a open throughout today's discussion. you can submit a question at any time using the q&a box. it's my pleasure to introduce today's moderator. dave, over to you. >> thanks, caitlin. welcome, everyone, to this final installment on inflation and monetary policy. it's a great pleasure today to be joined by governor chris waller. i think you can come on the screen. he does not need a whole lot of introduction as most people are fam

governor christopher waller said that he's expecting a 75 basis point hike at the next meeting even thoughdid add, though, that if retail sales, housing data come in t hotter than expected he is willing to go higher, he is willing to vote yes on a one point. we're waiting on retail sales this morning, an hour and-a-half away. we are expecting the consumer to still look strong. is that going to be enough to keep markets higher? the estimate is for a gain of agent tenths of a -- eight tenths of a percent for june retail sales. scott. >> maria, thanks. probably not, unfortunately. what we really need to see, we need to get the fed out of the way. this year has really been an exercise of the market leap frogging itself over and over again to ratchet up rate hike expectations and bring them all forward and bring them all forward quickly and we think that's probably a pretty good thing. if you think about what's going on, the fed needs to get inflation under control, need to get rates higher quickly. they need optionality into their system. they know they're hiking into a slowing economy. the fa

host: in an interview earlier this week, federal reserve governor remember christopher waller expressedcern about the impact of inflation. take a look. [video clip] >> if we do not get inflation under control, we all worry about the un-anchoring of expectations and something we cannot have done. the president last week made the point that from a risk-management point of view that they might be coming unanchored and make sure we get them back down and to assume they are angered and then get away from us. it is critical that we try to get inflation down. if we take a lot of aggressive action now, we will have a quicker impact on inflation. if we keep delaying the hikes. hopefully at some point, some of the supplies side effects will help us out. i am not worried about that anymore. if they help, they help. if not, we have to keep going on policy. i am advocating for the frontloading approach for one important reason. the labor market has been strong. the economy has been really strong although we are getting these negative readings recently on gdp. doing the big rate hikes when the econom

host: in an interview earlier this week, federal reserve governor remember christopher waller expressedcern about the impact of inflation. take a look. [video clip] >> if we do not get inflation under control, we all worry about the un-anchoring of expectations and something we cannot have done. the president last week made the point that from a risk-management point of view that they might be coming unanchored and make sure we get them back down and to assume they are angered and then get away from us. it is critical that we try to get inflation down. if we take a lot of aggressive action now, we will have a quicker impact on inflation. if we keep delaying the hikes. hopefully at some point, some of the supplies side effects will help us out. i am not worried about that anymore. if they help, they help. if not, we have to keep going on policy. i am advocating for the frontloading approach for one important reason. the labor market has been strong. the economy has been really strong although we are getting these negative readings recently on gdp. doing the big rate hikes when the econom

after that, federal reserve board governor christopher waller shares thoughts on inflation and monetary policy. ♪♪ >> c-span is your unfiltered your government funded by these television companies and mark including cox. >> more can be hard but squatting in a diner for internet is even harder. that's why we provide lower income students access to affordable internet so homework can just be homework. cox connect to complete. >> cox along with these other television providers giving you a front row seat to democracy. ♪♪ >> sunday on q and i, analyst elliott mars shares his books, strength in numbers which examines the history of public opinion polling going back to the 19th century and accuracy of polls today. >> predicting donald trump has a 30% chance of victory in the election not because of the boards but because the race is close. i do wonder if every person in the media has understood that 30% meaning these holes, three elections, they are going to be wrong one time and biden like 18 elections then you have a good chance the holes are going to miss enough the losing presidential can

. >> federal reserve board governor christopher waller discusses inflation, saying that the higher itoes, the more it hinders economic activity. the discussion is hosted by the national association for business economics. he says the federal reserve is committed to getting the inflation rate down to 2%. this discussion is in our --

if the fed >> we have live remarks from federal reserve board governor christopher waller speaking about inflation and monetary policy in an event hosted by the national associaon