with warren buffett, you're heard of him, and also david solomon. vref him, and also david solomon. hf him, and also david solomon. >>> today jay powell and the central bank are kicking off a two day meeting, the final one of 2020. ahead of that meeting, the officials struck a cautious tone about the economy, we saw that in the december beige book steve liesman is joining us with the results. hey, steve >> good morning, joe big question for fed policy is how it deals with the surge in the virus near term, but the promises later from the vaccine. respond dents believe that the fed will tighten a bit sooner than sxektsded an expected and unlikely to provide additional relief. 46% believe that they will decrease asset purchases sometime this year and that the economy will be fully restored by the second quarter of 2022, a quarter earlier than in september. and now seeing hiking rates in december 2022. 55% saying that fed policy a appropriate right now for the barack obama of the vaccine. which 30% saying that it is too loose. and some believe that the fed needs to start talking now abo

we will buffett and david solomon on tuesday, 8:00 a.m >> tuesday next week. >> tuesday 8:00 a.m., yeahody. >> bye >>> good friday morning. welcome to "squawk on the street." i'm carl quintanilla with jim cramer, david faber. it is risk off as the s&p is on track for the first weekly loss in three, the worst weekly loss in six, actually, amid fears of a no deal brexit vaccine supply, stimulus as the government faces a budget shutdown at midnight tonight our road map begins with pfizer, though, the fda says it will move to finalize that panel recommendation for

well now paulson's carefully cultivate a relationship is blooming under the current ceo david solomon. the chinese, and party according to the "journal" dangled the prospect of more investment opportunities in china if goldmannd and friends help navigate the future trade deals with the trump administration. well, it looks like sucking up to china paid a goldman big dividends. the investment firm just confirm that it will be the first global bank to get full ownership ofhi its securities business in china. and what about jpmorgan chase ceo jamie dimon? he's been extremely bullish on china. >> you slow down four-five years until you see the lay of the land or goal mortgage? >> we are all in. >> sean: we >> laura: total coincidence that china decided to give jpmorgan fulltr control of a futures venture in which it had a minority stake. and lastly, blackrock ceo larry sink, let me say this. let i me put it this way, is groveling before the chinese were an olympic sport, sink would be bathed in gold. he told his master's that blackrock should be a chinese company in china. to his chinese h

that have them avoiding that treatment >> and then coming up on "squawk box," warren buffett and david solomonoin to discuss the biggest challenges facing backbones of this country's economy. small business struggling with no signs of relief all of that coming up at 8:00 a.m. on "squawk box. what if you could have the perspective to see more? at morgan stanley, a global collective of thought leaders offers investors a broader view. ♪ we see companies protecting the bottom line by putting people first. we see a bright future, still hungry for the ingenuity of those ready for the next challenge. today, we are translating decades of experience into strategies for the road ahead. we are morgan stanley. don't settle for silver #1 for diabetic dry skin* #1 for psoriasis symptom relief* and #1 for eczema symptom relief* gold bond champion your skin >>> vaccination rollout ramps up in the u.s more locations set to get the historic treatment we're talking to one doctor who was among the first to get the shot >>> potential new headaches for boeing, details about the apparent new defects concerns surroun

now, paulson's carefully cultivated relationship is blooming under the current ceo, david solomon. the chinese communist party, according to the journal, dangled the prospect of more investment opportunities in china, if goldman and friends help navigate the future trade deals with the trump administration. well, it looks like sucking up to china paid goldman big dividends. the investment firm just confirmed that it will be the first global bank to get full ownership of its securities business in china. and what about jpmorgan chase's ceo jamie dimon? ever since that meeting with the ccp official in 2018, he has been extremely bullish on china. >> as, you know, an investor in china, you slow down for 4-5 years until you see the lay of the land, or you go all in? >> we are all in, so we are not slowing down. >> laura: we are all in. we are not slowing down. not now. i'm sure it is a total coincidence that china decided to give jpmorgan full control of a futures venture in which it had a minority stake. huh. and lastly, blackrock ceo larry fink, i will put it this way, if traveling b

goldman, listening to david solomon, is up for the year.owhere near its one time competitor morgan stanley's great performance this year as it pursues a different business model in many ways and had success with that e-trade deal they didn't know what they were signing up for, before the pandemic they didn't realize how many new accounts would be established there. also asset management in terms of what gorman is pursuing and the different acquisitions they have done. morgan stanley performed quite well, up 22% for the year. we'll keep a close eye on wells fargo. >> gorman tried to get out of the etf basically the squandering of money from the etfs is incredible david, goldman barely above book value, trying to do a little education. if you were to close goldman, what it would be worth, they would give you the cash. they're not going to close goldman. they also can't merge it it is 85 billion goldman sells at ten times earnings largely acknowledged being the best of the brokers. >> yes they're frustrated at goldman because they also think t

david solomon said this is a huge point of pride for the firm and what they've been able to do. and both these gentlemen understand the pressure these owners are coming under right now. they did a survey of those small business owners and 97% came back and said they think it's important for the democrats and republicans to stop their talking points on both sides and find ways to pass bipartisan support. the pain they've been under at this point is real and it's palpable. when they surveyed them about that, 42% said they had to layoff workers or cut their pay since the pandemic began and even more than that, 52% of them have taken a cut in pay or no pay of their own while they're trying to keep their business afloat. 28% say legislative uncertainty is making them think about closing their businesses at this point. >> is it purely about government assistance or is it a reopening, reclosing conversation to have? >> i think their concern at this point is -- go ahead, sorry. >> a lot of small businesses look around and are very frustrated with a lot of the stuff the government is tel

i am very curious to hear what david solomon and jamie dimon, both speaking at the goldman sachs financial services conference. interesting to see the on the ground high-frequency input they are getting from consumer lending platforms for businesses, paired with the optimism we keep hearing about for a time when we do have a vaccine that can be rolled out not just in the u.k.. 2:00 p.m., we get a briefing from senate majority leader mitch mcconnell. very interested to hear what the lyrics are of the mood music we have seemed to have changed, just to butcher the whole analogy you guys were coming up with. he holds the key at this point to whether we get a bipartisan deal, and the main sticking point now apparently is liability for covert related injuries, etc. for businesses. api:30 p.m., china releases and cpi data. china has come out with relatively better-than-expected data, so it will be interesting to see whether we continue to support copper prices along with this feeling of momentum in the global trade economy. jonathan: you say that is the sticking point now on the talks down in d.c

ceo david solomon told staff that she will step down and become an advisory director in the new year.and 13 --he the most in 13 months. 100 dayk fell below moving averages as revenue from small and medium enterprises declined. daily and monthly active users also fell. a slowdown in new show releases. afterschool tutor to raise through a private placement, of which nearly two thirds will be in portable. says the rest of the investment will be in newly issued class a common shares. the search for a new chief executive of the hong kong exchanges has yet to identify a short list. he announced he would quit more than a year before his contract was sent to end. freewheelingi's style often put him at odds with members of the board. don't miss our exclusive interview. he opens up about the reforms that helped transform the city entity top fundraising venue and hints at what he will do as he prepares to step down after more than a decade of the hong kong exchange. paul: let's get a quick check of currencies. we have got a modest increase in the bloomberg dollar spots index. the dollar pretty s

we will buffett and david solomon on tuesday, 8:00 a.m >> tuesday next week. >> tuesday 8:00 a.m., yeah. >> great "squawk on the street" starts right now. >> bye, everybody. >> bye >>> good friday morning. welcome to "squawk on the street." i'm carl quintanilla with jim cramer, david faber. it is risk off as the s&p is on track for the first weekly loss in three, the worst weekly loss in six, actually, amid fears of a no deal brexit vaccine supply, stimulus as the government faces a budget shutdown at midnight tonight our road map begins with pfizer, though, the fda says it will move to finalize that panel recommendation for emergency use. >> plus, seeking streaming domination, disney outlines its growth plans, projecting up to 350 million subscribers across its platforms by 2024. and stimulus or we can also just call it relief, well, it seems to be stalled again. stocks set to open lower as the fate of a bipartisan plan to get some money out of congress now looks more uncertain, carl >> guys, jim, art cashin yesterday suggested that the rally was showing signs of getting a little tired

the people who need it most it is potentially a good thing, we heard warren buffett yesterday, david solomong, come on, got to getmoving on this and the idea that congress is, without state and local, mitch mcconnell, jim, more or less has gotten everything he was looking for from the very beginning, right >> i think so. and he congratulated -- >> it came to him. >> a major acknowledgement, he could be in the fire of twitter, which was upgraded today the twitter upgrade, i think, in subtext of that, the president, maybe he is going to stay on twitter and have a universe of tweets we all have to follow david, probably have to wake up in the morning and see what he says. >> not me. no >> what are you going to do? >> nothing why bother after january 20th >> he doesn't exist after january 20th >> not in terms of his ability to affect policy, right? the reason we follow him is what is he going to say about china trade, about jerome powell when he's no longer president, why? why do you care, jim >> because he may be running for president starting january 21st, carl. >> so? >> it is a campaign that

. >> jamie dimon similar to the comments we had earlier from charlie and from david solomon.y tied to the potential risk -- year end as to whether they want to release buybacks and some of their deserves i guess it will depend on the stress tests >> democrats and republicans both want stimulus for small business, but they can't agree on things like state and local aid. we are at a record high in the stock market it's hard, when you have the market humming at these record levels and continued signs of recovery to get the urgency even with the case load we will see if we can get the sim luis -- stimulus but jamie dimon adding his words to it. >>> slamming hbo max amid the latest announcement. "closing bell" will be right back these days, we want sophisticated but simple. cutting edge made user friendly. in other words, we want a hybrid. and so do retailers. which is why they're going hybrid, with ibm. a hybrid cloud approach with watson ai helps manage supply chains while predicting demands with ease. from retail to healthcare, businesses are going with a smarter hybrid cloud,

interesting given that's what's moving through congress right now and people like warren buffet and david solomonn sachs is saying small businesses need right now. why didn't it work for restaurants? >> the reason it didn't work for restaurants is that the original ppp round -- maybe it is improved this time around. let's hope it is but the original round, which was established at the end of march mandated that the funds be used within 12 weeks of receiving them 12 weeks after a company, a small business, a restaurant received them, most communities had not yet given the green light to dining. and because 75% of those unts fun -- funds needed to be used for hiring back your staff which was a great idea in and of itself but you couldn't rehire because you couldn't reopen. if you received the funds you were on the hook to pay it back with interest. i hope this time around we can do something that resembles the bipartisan approach, the restaurant's act, which was a really good program, if congress will approve it. >> so waiting to see on how long those ppp loans i guess would be given out and how lo

>> well, kudos to david solomon for sending the chairman and ceo of goldman sachs, for sending a messageno one is held hostage by some of the insane tactics and policies that the two of them have collectively delivered against new york and new yorkers. i think what goldman is saying is time to wake up, gentlemen, and recognize new york has been the financial capital of the world the last 200 years. and if you don't get your act together in terms of taxing, in terms of business incentives, in terms certainly of new york city, this idea of a shutdown is pure insanity. i think what goldman sachs is saying is we are looking at moving gsam, goldman sachs asset management, to florida. however, nothing is final until it's final, maria. golgoldman sachsput a fabulous e west side highway. it's run by new yorkers. yes, it's a global firm. but new york has been and will always be, in my view, the financial capital of the world. capital of capital starts right here in lower manhattan. maria: yep. well, it's an $8 billion revenue generating asset management arm and by the way, right now this is a blo

wall street journal outlining how figures like jp morgan ceo jamie dimon and goldman sachs ceo david solomonchina despite the ongoing trade and human rights disputes as well as the theft of intellectual property. the ceo of blackrock, larry fink, led the way on this effort and his firm notes to the journal, quote, u.s. financial institutions expanding in china is consistent with the policy goals of the u.s. government. he goes on to say a local presence in the world's second largest economy will help us better serve clients in the united states and around the world. as they save for long-term goals like retirement. dagen, major bankers are going to make a lot of money on this. should they be so bullish on china? other industries need a foothold in china have not been given the green light, only the bankers that have helped china do a trade deal with the u.s. dagen: we should all be bothered by this. because again, are these wall street and investment institutions kowtowing to china at the expense of regular americans? people who are hurt, who have been hurt by china's growing dominance and b

david: the news editor-in-chief john solomon with us on the lengthy trail of biden family corruption,ign cash on every area where joe biden had foreign-policy responsibility. biden's responsibility for russia, china, ukraine, those were the main ones he took over in the obama administration waited hunter biden's a business association looking from a rational regard, ukrainian oligarch and a chinese businessman according to the senate report tied to the chinese military. david: what a great reporter, that is it for us this evening, lou will be back on monday, mo brooks and jason chaffetz among lose gas, a reminder to follow him on lou dobbs, like him on facebook an instagram and parler at "lou dobbs tonight". have a great weekend. liz: controversy growing over the double standards of the democrat party and big media over hunter biden in eric swalwell scandals, the debate catching fire. critics say a growing mountain of evidence shows americans are and have been misled. joining us tonight by russian power, kt mcfarland and john cox, and mark morgan, top quarter guy, a lot of developing

david: the problem the last great prosecutor i can remember and i mention him to john solomon a momentler the da in new york .for many years and he followeda track wherever it led, he did not care what political party it happened to lead to. there are just not thatre many people, the whole justice system has been so corrupted by what's happened at the d.o.j. over the past 12 years, it is very difficult to find an independent prosecutor out there. >> the concern i have obama ruined the justice department, the fbi was ruined by mueller and combing and we still have not recovered and did not reliable entities in the eameantime and that's a rule of law crisis we face, nothing has been done about obamagate corruption the worst corruption scandal in american history practically speaking and biden was protected by these agencies while they wered: attacking tru. david: what happens now if joe biden takes over in january, what happens to the justicece department. >> i think the go through the i motions and investigating the family and biden will be free and clear. david: he will have to pull ou

investment banks working with these companies, you look like for example, we talked to david solman, thso solomon on the airbnb is there something from a regulatory perspective that should be done or an industry perspective that should be done? to some degree the service that some of these companies, to some you could argue, that the service they're buying, they're not getting. >> let me say this, going back to my word of the day, euphoria, it is difficult to price y euphoria because you don't know what the level of euphoria is going to be in any particular name the ipo process is one that's fairly tried and true, and you get indications of interest from sophisticated investors, that's where you set the ipo price. you then see the market coming into the open. you set the opening price, and you know, i can tell you, people do not like to leave a tremendous amount of money on the table. that's not something that most people are in the business of doing. >> let me ask you separately about this because it has to do with retail investors. robinhood now facing a complaint from the state of massachusett

david had two sons. the one that was selected was solomon. he had a party in a feast. he had his inaugural ball. he got the mainstream media to come out with him. at the end of the day, solomon was king. he was the rightful king! donald trump is the rightful president! we are going to make sure of it! the rightful president! steal, killat would and destroy in our inner cities, would not protect the vote! reject it in the name of jesus! amen! i want to get a picture of you, a selfie, can you raise your flags? god bless you, god keep you all! never waver! god has got this! god has this! god bless you! >> linda lee carver. what a powerful voice! now it is my honor to introduce another young lady. you know her father. you see him all over tv. he could not join us today. danielle is here. she is a strong pro-life young woman, the author of the book "the toys." i am proud to introduce her to you today in washington dc. >> thank you. hi! whew! y all righty. i will keep it brief. there are a lot of fantastic speakers waiting to talk to you. i want to talk about three things. culture, fear and life. the

this is happening throughout the solomon islands and many of the items affected in that way as well. among those calling for urgent action is the broadcaster sir davidfuture. never before has it been necessary for all the nations of the world, big, small, north, south, developed, less developed, never before has it been so important that there should been so important that there should bea been so important that there should be a debating grounds where we can all talk and come to an agreement. the less we are likely the lost —— we are lost. but sir david and mr guterres both sounded hopeful that momentum for change is building. it is particularly impressive amongst younger people. after all it is their world, is that teenagers today who are really going to have today who are really going to have to face the consequences of what we do now. i must say i was extremely impressed by the movement of young people last year. our generation to a large extent has failed. we are still on time to avoid the worst but it is there generation that is now telling us what to do and i must say even when i talk with my granddaughter who is very young i have a lot to le