joining us is holger schmieg, david powell -- thank you so much for coming in. how nervous are you about that rate being cut further, david? david: i was going to say nervous isn't the right word. francine: what is the right word? david: i think it will probably be cut only to enlarge the universe of assets eligible for purchase. the real focus is going to be the size of the monthly purchases. manus: holder, let's bring it to you. i've written down here, has qe worked? you talk about money supply. holger: has worked brilliantly. that's a fair way to judge it, isn't it? holger: the task of a central bank is not to drive up global oil prices to make us pay more at the pump. the task of the central bank is to look at domestic fundamentals to get the labor market going and get domestic inflation back to target. the ecb has done quite a bit of that. francine: but it has a mandate and that is inflation near 2%. that is the only mandate. ,olger: but you can't simply you shall try not to drive the oil prices up. the mandate is not to meddle in the global oil market to dr

david powell is the chief euro area economist. david, let's kick off.rd and for the meeting we get tomorrow from the ecb. headline number expected. that is not enough to move the dial for draghi. of thes a reflection effect of oil prices. less in november than in october. reflected in the core level which is expected to remain the same as previous. below the ecb target. that is going to be coming through now. we have heard from various central bankers that is going to give us clarity. an underlying picture of what is happening with the economies. is that really going to be the case? the risk is it falls rather than rising from here. because the affect is only felt over two years, the ecb focus is -- is focused on forecasts. even september, when they have the latest forecast showing it would only rise 1.7%, that sees through the base effects, it is below where the ecb would like it to be. guy: what happens next? where do we go from here? such a lack of opportunity -- understanding about what the inflation dynamics look like. you plug in the euro, oil, yo

that on april 14th, lewis powell will kill secretary of state seward. david herold will accompany powell and lead him across the navy yard bridge and into maryland. george atzerodt will kill vice president johnson in his room at the kirkwood house hotel. and booth will kill lincoln during the performance of "aladdin" at grover's theater. [watch ticking]. tom hanks: with little more than 24 hours to live, abraham lincoln rises at 7:00 am and writes four brief messages, including one instructing acting secretary of state frederick seward to call a cabinet meeting for 11:00 am, then joins his family at breakfast to find his eldest son, robert, just returned from witnessing the surrender at appomattox. robert todd lincoln: general lee, stately, elegant. his uniform spotless. with a jeweled sword and shining spurs. and general grant, so shabby in a muddy blue uniform, borrowed from a private. abraham lincoln: [laughs] robert todd lincoln: it, it was great. oh and here is lee. tad lincoln: papa-day, let me see! can i see it? can i have it? mary todd lincoln: wait a

david: yes. children how do your feel about your already deciding to give away most of their inheritance? secretary powell presumption is -- david: the presumption is that parents of money it will go to the children. it's a presumption. if a child inherits $500 million, there is no presumption the child will do something that will win a nobel peace prize. inheriting a lot of money, but it is a bit of a burden. people will not respect to as much. the idea i have had, make sure my children are fully formed before they feel they are going to get any money from a, and they probably won't get any anyway, if i have given them a good education, that's all they really need. they need unconditional love, a good education, a good start, that they do not need staggering sums of money to be successful. most people who do great things in the world come from a modest across. i do not want to say people who inherited $500 million or a billion dollars and not great people, you look at people who win nobel is, they do not inherit staggering sums. my children are fine with it. there are 40 of us who signed this initially.

david: it's unbelievable. 10,000 to 300. it makes the powell doctrine look in comparison. >> it does. you're absolutely right. david: david sears, thank you very much. appreciate it. >> thank you. have a great christmas. david: thanks. same to you. >> sergeant bowe bergdahl in court earlier today. being tried on desertion charges and for endangering fellow troops. fox news jonathan has the details on his first court appearance. jonathan. >> hi, gerri. well, sergeant bergdahl appeared in court wearing an army dress uniform and a fresh haircut. at the time he told the judge he was not ready to enter a plea, that will happen at a later hearing. when asked by the judge, bergdahl indicated he was satisfied with his legal team. a combination of civilian and military lawyers will be defending him as he faces what's called a general court-martial. this is a type of military court reserved for the most serious offenses. sergeant bergdahl is accused of desertion and misbehavior before the enemy. if convicted on that ladder charge, he could face up to lif

. >> general powell, thank you very much. >> and now david rubenstein founder and ceo of the carlyle group here with "the atlantic's" margaret carlson. ♪ >> good morning. david, since we were last on stage together you've become a new father. and that child has gotten 218 million visitors according to youtube. tell me -- >> you're referring to the baby panda. >> i am. >> yes. >> who wouldn't be alive without david. >> i don't know about that. but they did tell me that it was likely that they would need artificial insemination to produce a baby panda because the pandas tend to fight for the four-hour period of time when they can mate and actually reproduce so after the first two hours of fighting they decided to artificially inseminate the female and they wanted to know whether i would watch the artificial insemination. i said absolutely not. do you want to see the semen extracted from the male? i don't want to see that either. the artificial insemination worked and we have a new baby panda that the first lady saw last friday and named, new name, and as a result of that we have a pand

powell, lubbock county d.a. watched it live from another room. >> you must have been hanging on every word david shepard was saying. >> well, yeah, i mean, we -- we certainly were curious as to everything that had taken place. there's no doubt in my mind he was tellin' the truth. at least most of it. >> reporter: dave also said mike paid him in three silver bars. and detectives learned, dave did cash in those bars. as for the murder weapon -- he led them to a lake in amarillo where he'd tossed it. >>h e remembered everything to a "t"? >> he did, he did. and he says, i just remember coming over here and i had that gun, and i just underhand tossed it -- >> right in -- >> these two trees? >> correct. right down in this area here. >> reporter: a year later, in pleaded no contest to two counts of capital murder in exchange for a life sentence without parole. but mike dixon was going to trial. his attorneys would argue their client had nothing to do with the plot. >> from day one he made it very clear that he did not pay, he did not plan and he did not participate in the killing of mejoseph sonnier. never wanted it to h

david ignatius. following up on chuck's point, i have seen under secretary of state condi rice, colin powell, hillary clinton, and now john kerry, the failure to go up against al qaeda and now isis propaganda machines. should we just get out of the business and disarm ourselves? should we contract it out to the silicon valley experts? >> the judgment that people are making this week that the u.s. is not a credible source of counter-isis messaging, messaging to muslims, is a wise decision. the muslim world is in many ways allergic to the united states. there's a whole range of questions about what the u.s. should do without fingerprints which would be done through our intelligence agencies but that gets you into snowden territory. this week was a remarkable discussion with a young technologist named jared cohen who used to work at the state department, who was talking about a digital counter insurgency strategy in which as in physical counter insurgency you try to separate the insurgents, the isis people in this case, from the people they are trying to recruit by taking away their digital space. he sa

powell and the battle of the presidents, chicago versus richmond marker. is on a theoretical construct right now. there is no foundation to work from. davidwould say that we have seen that in europe, too with draghi versus bike men. led by their president. we know that yellen is more on the side of introducing that first rate hike, as draghi is on the side in the euro. please come back and we will have the microphone work next time. speaking of leaders leading and speaking, chair yellen will be speaking. we will be on the watch with the fed and strategically going into draghi's press conference tomorrow. janet yellen, an important speech at 12:30. "bloomberg markets." ♪ ,rancine: i am francine lacqua in london with tom keene. a rare occurrence. not only is tom keene in london, but the sun is out. it is a trio of prayer and good events. tom: that is lovely. it has been very gray, hasn't it? francine: it has, but it hasn't rained. tom: from boston, massachusetts and london, with the esteemed eaton vance, eddie perkins. providing leadership in equities and value. after a four year bull market. edward: i think it is outside the u.s. i say tha