let's understand who bill dudley is. about what's happening on the balance sheet are important. he's the president of the new york fed. and he in a sense he has the say so over this thifpblgt the one thing i think i should interject, i thought this was very measured and calm. very different in way from william's and rosen and fischer, all being very kind of time dependent, we're going to raise rates. i thought this was very calming and sensible. pretty -- pretty much saying to the other people we can't move on a time dependent thing. we have done that in the past. that wasn't credible. i thought this was a pretty important interview where he said to the others, calm down, folks, we're going to look at the balance sheet. but dudley is the person who is going to drive the way in which he balance sheet is reduced. david: it was a very good interview. jonathan: i wonder how difficult it must have been on the m.p.c. for anyone -- danny, gaming to give vince the "final word." vince, what are you looking for from the minutes ne

you had dudley and williams both pushing the market to reconsider march. anna: the probability is very high. there's certainly a lot of market rethinking. more about that as we go through the show. let's show you the overnight action. u.s. futures, factoring in the fed story and everything that donald trump had to say. by .2%, theup dollar and stock market pretty unscathed by what donald trump had to say with a little pairing of some of the earlier gains but nothing all that material. thes: when it comes to dollar and the tenure government bonds, you're just trying to see the lack of detail that there was. light on the details. the two-year government bond yields also moved aggressively. this could be the nail in the rate hike coffin as well. that is potentially what will drive the market. adding to the commentary around the fed are the expectations around the fed. those stories playing in the markets overnight. we've seen that 10 year yield increasing for the third straight there. let's have a quick look at the nikkei, up by 1.4%. the end down for a third

dudley takes offense and will get up in smith's face and tried to head butt him.dley ejected for arguing. here comes the suns going the back and the suns set the lead to eight. final seconds of the half able to beat the buzzer on that one even getting fouled. washington up by seven. the suns surging back in the second half. right now this game is tied at 106 in the fourth quarter. >>> opening day is less than a month away and scherzer is trying to recover. the nationals aide suffered a stress fracture. throwing off the mound for the first time this spring. live batting practice session under the watchful eye of manager dusty baker. mooky betts. making himself very comfortable and takes joe ross deep to give boston a 1-0 lead. this ramirez more of the same, back-to-back home runs for the red sox. giving up three hits and two runs. fall to boston 5-3. today caps last practice before heading out west. looking to get back on the right track after the loss to dallas. a three-game road trip to california starting thursday in san jose. >> always is going to cali. good bo

to new yorkrding fed president william dudley. these comments mark a shift from last year when most officials agreed risks were tilted to the downside amid tepid global growth and sliding inflation expectations. considerabletill uncertainty about fiscal policy contribution to economic activity. it seems it will shift over time to a more stimulative setting. it appears the risks for economic growth and inflation over the medium to long-term may be gradually shifting to the upside. scotland's first minister letter.ted a she was pictured working on the letter. this contrasts with theresa may. global lows, 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. you can find more stories on the bloomberg. anna: thank you very much. let's check in on the asian market session. down 0.5%. let's get to juliette. she has details and she is in hong kong. juliette: we are seeing australia's market, following -- falling off the two-year high. you have seen good movement coming on the csi 300 and china, up

dudley saying it is more medium term. there is more a compelling case for a hike but not in two weeks time. guy: communication. yellen used to be in charge of commune strategy. she ultimately now is responsible for the communication strategy with the fed. the communication strategy has one up to 87.1%. >> absolutely. i think it is about keeping their options open. i think it is notable, dudley's comments in particular. he was seen as being slightly dovish. these are certainly hawkish comments. it really took me by surprise and i think that is why the market has reacted. these are major comments but i think it is all about giving themselves an option. they can do something depending on how the data comes in next week. what would be worrying is if they went in after the yellen speech and there is only a 20% probability. this way the option at is in the fed times and that's the way they want it. manus: do you think, we saw -- matt: with saw the dollar weaken slightly after trump spoke and then the fed took the attention away

-- fed president dudley's comments.hed around by markets but nevertheless it is a good indication. because of the strong dollar we are seeing a weaker canadian dollar and a stronger peso which is interesting. if you think of the two countries that are impacted you might think mexico would be impacted to its detriment while will seey be actually some improvements out of any change in the terms of trade. it could be positioning because that is not what is happening. yields rising too, and little bit of a selloff in treasuries. country market movers, we have a nice green screen for most of the stock indexes. i told you about the dollar index. the yen is also weakening, closing in on 1.14. there is not much movement in oil. stocks at records, let's look at whether the fed will hike this month. abigail doolittle has a way of turning that. abigail: a big piece of today's risk on rally is the fed, very suddenly the march meeting has become live. white, this is where world interest rate probability into a fed meeting, the likel

bill dudley says the case for tightening is a lot more compelling. same as president james bullard said the fed is closer to its goal mallet than any time in the past 60 years. the indictment of samsung's defector leader is threatening the group's ability to make about policyisions and acquisitions be are jay y. lee and other executives are accused of sending millions of dollars to a confidant of president park geun-hye in return for support. the indictment is a new blow for samsung following the burning note 7 debacle last year. india's economy is expected to slow less than forecast in the fiscal year, growing 7.1 percent through march. that is the slowest pace of growth since 2014, but faster than the median estimate. gdp was expected to take a big hit from the prime minister's unprecedented cache ban -- cash ban. >> in respect of many of the companies, we have been quite surprised to see a smart recovery. people are at most at the pre-denomination stage. by the end of march, we expect to be fine. xi jinping has called for better supervision of fin

dudley?s kalanick: behind the curve. : behind theski curve but we understand why they have not. she said people are spending down savings in the short-term. you have to look at the bigger picture. 2012, consumers went through deleveraging. in 2014.evered given the confidence numbers and the sentiment among businesses and improving manufacturing, we tend to agree you go with the sentiment for now and a so real income will catch up. alix: are you backing yet? you companies saying we are optimistic. are you trading off a potential? from ourski: perspective, the key to our positioning is the u.s. a voice a recession. recession risk we think is low. -- the u.s. avoids a recession. we were relies more upside. -- realize more upside. david: thank you to michelle isard and troy gayeski staying with us. democratic senator chris coons joins us to go over what he agreed with and disagreed with in what the president have to say. this is bloomberg. ♪ emma: i am emma chandra. hour, thein the next only fort

dudley stole the show, but it was a different president trump.sing. four to fiveed times where he reached out to congress saying we could do this. totally different than in the past. jonathan: features of this morning a big. we are up 12 points. a rally in europe with the equity market up by one full percentage point

we have heard from new york fed president dudley earlier today.ple more rate hikes this year are reasonable. let's get perspective from another fed president. cath lynn haste. kathleen: i'd like to welcome our bloomberg television and radio audience to the quinnipiac student investment forum. seventh annual event with a very, very special speaker today. jim bullard is president of the federal reserve bank of st. louis. a position he's held since 2008. and he's here today to share his thoughts on the economy and the fed at a time when the fed is seeming to go into a very interesting mode, jim. seems to me that the majority, the consensus on the f 1 c has not moved to maybe so many heights. but we're definitely going to do three rate hikes if not four. you have been in a camp, smaller, one this year i don't care if you do two. but not much more for the next few years. what do you see that the rest the rest of the f 1 c doesn't? jim: i would say the u.s. economy is in a slow growth mode as it has been for the last two years. in 2015 the economy grew

currency, the fed continues with bill dudley in london today. repairing for the divorce, our sources say make of america and barclays -- in the post-brexit world. good morning, this is bloomberg surveillance. i am francine lacqua in london and tom keene is in new york. on the u.s. and donald trump and james comey, the french elections. italy mumbling under with concerns. tom: a lot of speakers with the american fed, mr. dudley in london. am i right in that he and carney are together today? matt: yes, -- francine: yes i think you are. let's get to the bloomberg first word news. has delivered a couple of political blows to the donald trump administration, he revealed that the fbi is investigating whether any of the presidents associates collaborated with the russian government during the election campaign. he said there is no evidence to back up the president claimed that he was wiretapped his predecessor. in europe, french presidential front runner marine le pen and emmanuel macron went after each other in a televised debate, she attacked his rec

dudley eject.fourth, suns gorilla mascot makes a diving play on the court, he was retrieving a drum stick that somehow ended up there, no word how it got there but quality save by the gorilla right there, nice move wizard wynn 131-127. >>> sixers off tomorrow night, and, and local youngsters. sixers replace traditional red carpet with blue, outside of the 23rd street armory last night, team, at sixers youth foundation gala and players robert covington and nick stauskus were on hand for party, youth foundation, engages the city, city youngsters through power of hoops. >>> he saved the game with the clutch play in the union, season opener and now he is coming to the cbs-3 studio, philadelphia union star keegan rosenberry will be with us, he is in our next hour, lancaster county native played four years at georgetown before bringing his talents to chester, and he was also selected through the mls all-star team and was runner up for rookie of the year. we will meet keegan rosenberry in the next hour. >

that matters for the fed and we saw dudley mention that yesterday.hat feeds into financial conditions, and gives the fed scope for more hikes without slowing the economy too much. essentially all of this worked together. all of that anticipation of fiscal policy makes the med have to move ahead of knowing what will really unfold. >> you said he acknowledged the stock market rise. i think he celebrated it, con grad lated himself abo congratulated it and praised himself for it. is there much more here for the markets and the dollar than any particular policy? >> i think the dollar is interesting. it saw another meteoric rise on the back of a presidential election, then kind of stalled out. it adjust the to initial reaction and said we need another positive catalyst. it feels like these days the positive catalyst has to be proof that the fiscal markets will bear out in the way we expect. the fed cannot wait and sit on its hands and wait for fiscal policy. when stock markets are moving, financial conditions are easing, you are affecting the economy befor

speaking earlier today with bill dudley.t's give you a check with emma chandra on first word news. try --ident trump is will sign to executive orders today. the president wants to identify every form of trade abuse that contributions to u.s. deficits without other countries. the other order is aimed at strengthening trade penalties. republicans are worn strongly against changing rules. chuck, is trying to get enough votes to block it. and europe, a warning from brexit from european council president, he told reporters eut the uk's leading the will be difficult and may be conversational. he said there no such thing as a brexit bill, the u.k. will still have to pay up. >> we'll will also need to make sure that the u.k. continues with all financial commitments. >> the u.k. has rejected the suggestion that they should take $65 billion to leave the eu. >> caught in the crossfire, most reach helpcramble to in an area decimated by iraqi forces and the coalition state. they have launched an offensive to retake the west. global news,

currency, the fed continues with bill dudley in london today., our sources say make of america and barclays -- in the post-brexit world. good morning, this is bloomberg surveillance. i am francine lacqua in london and tom keene is in new york. on the u.s. and donald trump and james comey, the french elections. italy mumbling under with concerns. tom: a lot of speakers with the american fed, mr. dudley in london. am i right in that he and carney are together today? matt: yes, -- francine: yes i think you are. let's get to the bloomberg first word news. >> james comey

louis -- bill dudley of new york and jim bullard of st. louis.s is bloomberg. ♪ scarlet: i'm scarlet fu. "what'd you miss?" jeff bezos is now the world's second richest person. here's a scorecard of the richest. jeff bezos is the white line. his net worth on paper is now at billion..6 he has surpassed warren buffett and ortega. warren buffett is in blue. buteaked in late february, has been drifting down a little bit. , he is at about $74.3 billion. this comes a day after amazon announced that it is buying a dubai-based online retailer. on the rich bloomberg. it's a great resource for how the rich are doing. so farzos, number two, this year, he has seen an increase in his net worth of $10.2 billion. if we click on the chart section, you can see how he stacks up against the koch's. overall for the three-month average, his net worth is about $72 billion. the high was about $75.6 billion, which is where he is at now we spoke with brad stone, who points out that jeff bezos not only has done very well with early, but he's also an investor in airbn

bill dudley is a special central bank president because he always votes.part of the triumvirate with janet yellen, these are key voices. economists had already started moving their forecast from may and june hikes toward march after dudley's speech. look at the rate hike on work. world interest-rate projections on bloomberg. take a look at that now, because they have shot up. the right icons yesterday were at-- rate hike odds were before percent. before they were at 64%, now at 80%. 6347. this is the blue line. the decembere is picture over the course of 2016, the end of the year boom. the odds stayed there. blue line moving rapidly. it seems to be that the fed is sending a message and the markets are responding. had: does the data we have support the move? >> we were waiting for the fed's beige book, their anecdotal survey across the country. it was more of a team report. fed sees modest growth and subdued reflation. ismid have the manufacturing index, a important pmi manufacturing index. it is up to 57% in february. that is a strong reading. the key fed

then of course there is the new york fed president bill dudley. he said the case for a rate like is now more compel. that's an important word in fed speak. one caveat today, the banl book did show business optimism has dimmed a little. and new job support this friday. we won't get it until next week. >> so to get the time ts report. when does blackout period? the period which officials can't talk? >> it is the tuesday before the fed meeting. >> thank you. is it a good they know or a bad thing if the like happens in march? you think it is a bad thing. this on a day when the futures surge. >> on friday we get last comments we'll get from the fed. that's when the black eye starts. not because the market is forcing them to like and they have to again to unwind policy. if the fed is actually stepping in because they do see inflation, they do see wage growth, it is very, very positive if they're pushing the market, if the market is pushing they will, we don't know. they said they would wait to see the economic data. i don't know if the market was up 400

exclusive interview of william dudley of the srefrb bank of new york. that's all coming up. >> this is bloomberg day break. mazon has come up with a bold new plan. it wants the makers of oreo's, heerio's to start shipping their product directly to online shoppers and bypass chains like target. and bloomberg learned an executive from general mills and other attendd food makers will a meeting at amazon's head quarters in may. of h&m fell toward a four year low. the swedish company said it may cut prices in the second quarter by more than last year o reduce inventory and h&m suggested on a conference call that reaching its sales target or this year would be challenging. jp morgan is looking to expand the wake of the brexit move. the bank is in talks to buy an office building that would have 1,000h space for more than workers. jp morgan said other options are the table. that's your bloomberg flash. david? >> thank you very much. john williams warns that equity arkets may have overpriced promises saying i do think the markets perceptions of what's got to hap

what bill dudley said to me yesterday was a really great risk of depression. president trump takes office with growth of 1.6%. maybe not as good as he wants, unemployment down 4.6%. the garden is rosy, the blooms could get better, and now it's really up to him to execute on the plans he's put forward. >> richard quest, as usual, thanks very much for joining us. >> thank you. >> that's it for me, that's all the time we have. i'm wolf blitzer in the situation room. erin burnett out front starts right now. >>> up next breaking news, stocks sore in the glow of the president's speech, plus his tone gets high marks. did we see a new president trump or was it a prime time performance? and the hispanic pastor the one that led a prayer now offering shelter to terrified immigrants. has he lost faith in trump? let's go out front. good evening i'm aaron i erin burnett. we begin with breaking news, tr

bob dudley, ceo of bp joins now on "power lunch."s a pleasure. >> thank you so much, brian. >> you've been cautious, you've been correct. yet bp is growing again. how do you square it? we're growing again but you're nervous about prices? >> i am optimistic. you're right. it's been lower for longer. it's not lower forever. you can imagine you were here last year at ceraweek, at this conference. >> it was grim. >> it was grim. nobody smiled. the opec agreement in november has brought some stability back and there's real commitment to meeting that and the industry cost basis are restructuring. >> is that really all it was, that opec decided they're going to freeze/cut a million plus barrels and suddenly everything is okay again? >> no, but it put confidence back in again. the business sees confidence and there's a commitment to keep it within a certain band that we can make investments. 2017 is an important year for us. we have more ready. new projects being committed. this year is important for us. we will see growth. >> we had an inte

roderick emanuel is charged with shot shoulding and killing amber dudley. she came under fire riding in a lyft vehicle and emanuel is the one that got into the car and shot dudley in an attempted robbery and three accomplices remain jail at the corrections center. >>> and today philadelphia's top prosecutor was back in court today about a hearing for his defendants team. the lawyer defending seth williams wants off the corruption case. vernon odom is live now to explain why. >> reporter: good evening sharrie. today's hearing was brief and very dramatic. williams current lawyer want withes off this case as you said. citing at least two reasons the main one is this, he cannot afford to pay michael diamondstein's fee. da seth williams was confronted by a trio of black lives matter activists as he left court this afternoon. williams told the magistrate he hopes to have a new lawyer by friday. michael diamondstein who represented him last week told the judge he wants to withdraw because williams cannot afford his fee and claims he will have potential conflicts o

louis fed president, james bullard, and new york fed president, bill dudley.s for earnings, retail ers ret finish line reports before the bill. >>> investors pulled 1.3 billion from financial sector funds in the worst week of net sales since july of 2015. investors poured 8.3 billion into u.s. base taxable bond funds. >>> coming up, theranos founder elizabeth holmes plans to give out personal shares in the stake of her company, but there's a catch, a big one. stay tuned. you're watching "worldwide exchange" on cnbc. ities. we enable you to reach global markets and drive forward with broader possibilities. cme group: how the world advances. experience exceptional offers on sales event is here. our most refined models ever. get up to $2,500 customer cash on select 2017 models for these terms. experience amazing at your lexus dealer. the markets change... at t. rowe price... our disciplined approach remains. global markets may be uncertain... but you can feel confident in our investment experience around the world. call us or your advisor... t. rowe price. invest

dudley says he expects fiscal policy to remain accommodative but pointed out threats to growth.e says the economy continues to grow modestly. japanese prime minister shinzo abe has a long struggle with reflation, but may be offered encouragement when the latest data is released shortly. cpiomists we surveyed say for fresh foods rose 0.2% in february, the biggest gain in almost two years. price pressures are rising in japan and the effect of a weak yen ripple through the economy. global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. i am courtney collins, this is bloomberg. yvonne: courtney, thank you. stocks have that sixth straight quarterly gain, the dollar rising. we have more on the u.s. markets and how they fared. they are still at their all-time highs. the dow andoint, s&p 500 back on march 1. major averages up 3/10 of 1%. the nasdaq did put in an all-time high, led by tech. a divergence between the s&p 500, doubt, and nasdaq. let's happen to the bloomberg and look at this. this chart illustrates the divergence. up top co

. >> and many bill dudley, an influential fed official, add that had rising interest rates will be a delicate adjustment for the economy. >> by taking out a little bit of that accommodation. moving up the interest rate a little bit. we think it is more likely it will give a soft landing and keep it where it is. it is not something that's very harsh. we think it is appropriate and necessary. i think the economy will adjust just fine. >> he also said the unemployment rate is pretty close tots lowest level without sparking too much inflation. >>> still ahead, are you looking for growth? our market monitor says it is time to invest in some very well known companies. >>> the senate voted the undue internet privacy rules. those rules were approved by the federal communications commission last fall and have not yet gone into effect. the regulation would have required internet service providers to get permission before collecting and sharing your information like your web browsing history or your location. senator jeff flake introduced it to repeal the rules, calling them unnecessary. >> the

bill dudley, boston fed president, eric rosengren, esther george and cleveland fed president lorettaester will be in front of the microphone. just one report on the agenda, fourth quarter current account. and the earnings, general mills, lenar reporting before the opening bell. after the close, fedex and nike. what i'm going to be watching in nike, which was the dow's biggest loser last year, down 18%. and is now one of the biggest winners. big comeback for nike. up about 15% this year. number one, revenue growth. they've seen a slowdown because of competition from the likes of under armour, but mainly adidas. can they get revenue growth back up? they missed the last few times. they say it's not important to look at futures orders, but the market pays attention. they turned negative last time. will they rebound? that's going to be a big question. then as for celebrity endorsements, that's something adidas nailed with the likes of kanye west, puma went after rihanna, nike is working with drake on a new line. the more it talks about that sort of thing, investors will pay attention. nik

. -- dudley. he is the one who has changed market perception about the hike.he bottom line is the fed has ,he opportunity to price it in the markets are except -- expecting it and it is unlikely the fed will pass up the opportunity. francine: it would lose credibility and dudley was the first, but you also had brain hard -- she was actually skeptical of a rate hike in march, but she was focused more on international situations. she was pricing concerns with the economic situation in china and also political risk in europe. it has you said, this week she has changed and now international situations have improved. has it improved? there are fundamentals in the u.s. economy, but a lot of people have said they have been strong for sometime. kathleen: i think one of the things our clients are focused on is the geopolitical backdrop, looking at u.s. growth, we are positive. our clients are positive on u.s. growth. we had improving growth stories in the u.s. and on top of that, throw in the current administrations progrowth policies, whether tax cuts, infrastructure

both brandon jennings and the suns' jared dudley end up getting ejected.rward now to the fourth - wiz up five when wall takes it to the lane for the and one. wizards would stay ahead. they put it away 131-127. the big-10 tournament kicks off in d-c later today at the verizon center. it's the first time the district hosts the annual conference tournament. competing is a host of midwest schools along with a local favorite -- the maryland terrapins. thousands of fans have flooded into the city for the action. local bars and businesses are preparing too. d-c is not typically a conference tournament town. hosted their tournament in the city bringing almost 24-million dollars. this year's tournament is expected to bring 33-million dollars. happening today - a battle on capitol hill, but not over politics. senator al franken will host the seventh annual hotdish competition. for those of you who don't know - a hotdish is the minnesota term for casserole. the state's entire congressional delegation will be competing - and this is serious stuff. last year the washin

we will be talking to williams dudley and jim bullard. anna: the u.s.retary of state meets with president under one at a crucial time for relations between the two countries. we'll go live to ankara for an analysis next. this is bloomberg. ♪ manus: it has gone to 3 p.m. p.m. 0 global equity markets are worth 71 trillion and counting. let's put some perspective in these markets. perspective,f global equity markets might be marching higher. europe and the u.s. closed higher yesterday but asia not quite following. the index is a little bit lower, the shanghai composite heading for its do -- biggest decline since december. austria doing all right on the commodity producers moving higher. in terms of the dollar we are seeing a little bit of a stronger dollar driven by the ericsh comments from rosengren and john williams. one10 year yield up about basis point. a little bit of weakness in metals coming through. copper and nickel down there. you mentioned dollar-yen, a spot price worth 111.0. this shows the option market is sending a signal that currency trader

that is according to fed president dudley. this marks a shift from last year, when most officials on the fomc generally agreed risks were to the downside amid tepid global growth and sliding inflation expectations. >> there is still considerable uncertainty about fiscal policy and its potential contribution to economic activity. it also seems like there has been a shift over time to a more stimulative setting. it appears the risk for both economic growth and inflation over the medium to longer term may be gradually shifting to the upside. juliette: and a reminder that we have two exclusive fed interviews today. william dudley at 2:00 p.m. u.k. time, and an hour and a half later, the st. louis fed president. global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. this is bloomberg. guy: thank you very much. the big news overnight is that president zuma has fired his , following ater power struggle at the heart of south african government. he is to be replaced by a lawmaker with

i think it was william dudley who said the case for a rate hike is much more compelling.llms that march very much on the table and the fed will likely lean more toward thin. the message the fed wants to send right now is that every single meeting is live and they go in to every meeting anticipating that a racetrack could happen. this time last week when markets were pricing in a 20% chance of a rate hike in mark, that sibley was not the case. now it seems much more line with what the fed wants. now it seems much more line with what thelaura: sticking to a protectionist tone, the financial times and wall street journal are reporting details of a document due to be sent to congress today that lays out the administration's trade policy in writing for the first time. they say washington is preparing to bypass the wto if it doesn't agree with its ruling. >> my job is not to represent the world. i job is to represent the united states of america. >> donald trump stayed on message in his first speech to congress. reviewing his commitment to a protectionist trade agenda. focusing

go dudley said -- the time horizon over which they should be looking.ing said, i can see absolutely no reason for them not to hike in march. they are already a little behind the curve. matt: james, i just wonder, guy is a argue the swiss franc good risk indicator. so many people in the market would. we do not see investors looking terribly worried when we focus in on the bund trade. yields saw bunds climb for the first time in a few weeks. why do investors seem so complacent in europe? james: good morning, matt. i'm not sure complacency is necessary. how do i describe this? ,here's a lot going on conflicting signals relative to one another. the swiss franc is once again on the charge. really, it is running to stand still. side deposits showed they added to their balance sheet to the tune of 2% to 3% of gdp recently and that is incredible. with respect to the bond market, ishink the reflation theme fighting back against the political risk and widening spreads we are seeing fair. the influences are ebbing and flowing when you throw in what is going on in

new york fed president leon dudley will weigh in on the hints of trump administration's economic plansank's policy—tightening plan. this will happen at an event at the university of south florida. we'll come back to the theme of the us in we'll come back to the theme of the usina we'll come back to the theme of the us in a moment. joining us is james hughes, chief market analyst, gkfx. nice to see you. the morning after they've triggered article 50, what's happened? they've triggered article 50, what's happened ? markets they've triggered article 50, what's happened? markets not really going anywhere? nothing's happened really and the problem with brex sit that nothing's happened and we still haven't got a clue what is going to happen. from a trader's point of view, we are worried with the uncertainty. we have seen movements in the pound. that goes up when we hear detail from theresa may or from anyone, and that is the big thing we want. or it goes down depending on what the detail is? but usually detail means uncertainty goes away, whether good or bad news, and that's kind of helped,

to give all due credit to several previous works on the subject, one a popular history written by dudley bone in the 1960s, and recent lay bit over 20 years ago, a very meticulous constitutional analysis of the issues raised in congress as a result of the robbins affair by the prominent legal historian, right wedgewood. that was published in the late 1980s. both of those were a big help, but they did not pique anyone's curiosity, and so i just followed the threads that the mutiny left in it wake, including those left by these two historians. and it was a story that continued to surprise, continued to surprise in terms of it impact on the election of 1800, the impact upon conceptions of citizenship, which of course we are very much struggling with today, but i can tell you, with the election of thomas jefferson and the passage of a new naturalization law in the wake of the alien acts in 1802, there was no doubt among members of the republican party and shrewder members of the federalist party, parallels today are amazing. insert hispanic for irish. there's absolutely no doubt that foreign

. >> williams and dudley people now focused on march, why is that a positive for the stock market?> because you have jamie dimon talking about how we need rates up badly. >> and we saw i think it was the end of squawk rates up pretty sharply. >> jamie dimon said the same thing yesterday and we didn't like it, today we have a rate hike and we love it. you also have lowe's saying, hey, they're spending, they're just not spending at target. and people are just kind of they want that speech gave people a feeling of whatever was not so great yesterday, i kind of like it today. >> so to carl's point you really think the tone matters? >> yes, i do. do you think that's -- i mean, i know that's artifice and there's lots of people i went over with before saying this tonight, i said if i say this will people say that's total triumph of form over substance, but i'm going with it. >> if you're going to put all this reaction on that, right, can it be easily toppled by another attack on the media, another mention of the border wall in mexico, another thing about voter fraud? how much of this is t

learning to solve technical problems ata learning to solve technical problems at a college in dudleyidlands this morning, and after yesterday's budget, the chancellor is the one looking for answers after criticism over his plans to hike up national insurance. i think the decision we have made is a fair decision. to ask self—employed people to pay just decision. to ask self—employed people to payjust a little more contribution for the services they receive. this is not in any way an attack on business, hugely supportive of business, i want people to have choices about the way they work, but i want them to make those choices on the basis of what's right, not on the basis of what tax advantages they bring. but this is the row he woke up to. accusations the row he woke up to. accusations the tories had broken a manifesto promise made by mr cameron back in 2015. if you elect me as your prime minister there will be no increase in vat, no increase in national insurance, no increase in income tax. and there is criticism from some conservative mps. my leave ipod through people's doors who vot

for me, the key moment was tuesday in a window of 40 minutes for you had john talking and hill dudleyprospect of something happening soon. the icing on the cake was the seenwing night, generally as the dovish leader of the fed, saying we need to do something soon. they all say we need to do something soon. does the chair hang back? that she deliberately wade in, or does she go sideways? vonnie: what about letting me economy run hot for a minute? if what you mean the fed has in the past almost always waited for inflation to become a serious problem before it moved, things are different. it looks like the fed will move before hand, preemptively, to stabilize inflation at 2%. fedie: i'm not sure the wants inflation to be a serious problem. they have expressed the opinion it is ok for the inflationary to be above 2%. hot.they have let it run last year, people were walking projection of rate increases. the economy wasn't strong enough, the international environment was too brittle. onlyyear they're not embracing it, they are walking .own the aisle with the dos nothing happens in march or m

nothing she said in a speech with a response to possible but bill dudley did say when it comes to theiscal risks, they are all upside, creating stronger growth. das go.ok at. go -- there will be three rate hikes this year is the consultants. an interesting speech over the weekend, they changed one word at how she is looking at policies. policy is now moderately accommodated instead of modestly . very specific. she is saying there is a little more stimulus in the system, maybe you get more rate hikes under consideration at the meeting next week. and what else is in store? what else are central banks around the world watching? kathleen: the central bank is watching the gdp number because we had officials saying -- the minority, maybe there will be a rate hike this year, more tightening, and the european central bank meets thursday, and the germans are pounding for rate increases because their inflation are rising. the final brexit debate is happening, and the world is watching china. the national people's congress. this is a big deal as tom mackenzie was talking about the 6.5 point sent

. >> but bill dudley warns if the government increases spending on the military by cutting back domesticgrams the net effect, he says, may not give a powerful boost to the economy. he would know, he's number three at the fed behind the chair and vice chair. he overseas decisions affecting millions of americans. >>> a major bidding war in the book industry is over. penguin random house is signing a deal of pair of books by barack obama and michelle obama. it had surpassed $60 million. paying random house. these bookings are likel to be released in 2018. the obamas will donate a portion to chaty including the obama foundation. former president obama's previous books were published by the same company. both of them will be writing books. it's unclear whether the same publishing house that would get each of them but $60 million. >> you've got to generate a lot of revenue to make up that. >> they don't give up that kind of money unless they think they'll sell a lot of books. probably instant best-sellers. and maybe the first word we hear from these two. >> the return to politics is coming wit

. >> the teachers union president dudley did come to work today wearing red to observe the woman's moven't. the union did not orchestrate the absences of the members. she says it just happened. >> they felt they had to make a point. >> the parent gets it but she wishes she knew sooner. >> i'm on board with it. with better planning. better planning. >> well, we also talked to the head of the bus driver's union today who is disputing the notion that 30% of drivers weren't going to come to work that is what the school system says. the buses were not going to roll. greenbelt, brad bell, abc7 news. larry: in new york, an asset managing firm put up a statue of a young girl staring down one of the famous bulls on wall street for international women's day. look at this. state street global adviser wants to draw attention to how few woman are on the board of the largest u.s. corporations. today they got a picture of her dressing up's a superhero to emulate the statue. alison: a big announcement for iceland government for international women's day today. it will be the first country in the world to

tomorrow, we have exclusive conversations with two federal reserve bank president, bill dudley of nework and jim bullard of st. louis. tomorrow on bloomberg tv. let's check in on the bloomberg first word news. last out at trump conservative house members who block a repeal of obamacare. he wrote that the freedom caucus will hurt the entire republican agenda if they do not get on the team. he said the party must fight them and the democrats in next year's election. house speaker paul ryan is warning republicans to unify around a new push to repeal and replace the affordable care act. if not, he says the president may cut a deal with the democrats. here be is on cbs news. >> we talk about how we get this bill passed. >> you are not changing the policy? >> if we can make improvements, all the better, if improvements can be made to get people to yes, that is great. >> he says he wants a plan that gives people choices while saying democrats want government running health care. nancy pelosi, the house minority leader now at her weekly news conference, watch that on bloomberg at tv . dip

this is partially on hawkish comments from dudley. and up from 32% a week and a half ago.the market is expecting better than half odds of a rate increase. frankly, i don't think it's deserved because we're not really at the dual mandate. and the fed can jawbone. the jawboning is what's led to i think lower yields in part. >> i hadn't seen that. why didn't you say something? >> he did. >> joe, i debated this morning whether or not to lead with the fed or donald trump. i guess i went with the momentum of the story with donald trump. i could have just as easily led in terms of what i think is affecting markets this morning with the fed. we had four speakers this morning. i was in dallas. i asked robert kaplan if you're afraid you're going to miss an opportunity and he said yes. bill dudley earlier called the case compelling, a very loaded fed word. >> and williams said something about it too. >> march should be on the table. harker saying we should do three rate hikes this year. we use thompson reuters, which is slightly different from another news organization. we believe it

today, bill dudley, esther george and loretto mester -- we will get janet yellen on thursday.yeva jos weave kari giving us explicitly rationale for why he voted the way he did -- what are you listening for from the others? yelena: i don't think we will get that much color from janet yellen this week. she is the most important, obviously. that theundantly clear outlook has not changed. they still expect moderate growth, inflation to move closer to their target. they will move accommodation gradually. really great to hear from different sides of the aisle. neel's interview was great yesterday. one of the most important things we should take from that is that that is trying to make it clear what they want to do with the balance sheet before we even get to that. david: charles evans speaking three times this week. he's giving some indication of how many hikes he things we could see. yelena: that is a difficult one to read. is a 2, 3 or four? that is a possibility, in his view. what he really needs to see is inflation to move closer to the target. during the speech yesterday, he sp

there's the update from steve having had those comments from bill dudley.draft proposal circulated in congress by the u.s. trade representative, the trump administration is likely to see modest changes to the north american free trade agreement known as nafta. cnbc obtained a copy of the proposal, and now we're in a first cnbc interview with wilbur ross. mr. secretary, welcome. >> good to be on, kelly. we looked at the letter addressing a number of changes to b made to nafta. is this the final proposal for the administration? >> what apparently you have is a leaked draft of a letter we've sent to the staff of the house ways and means committee, and the senate finance committee. the permission of those two committees to send the formal letter, which is what triggers the 90-day period, and we're hopeful that that will happen before the spring recess. >> today speaking at the white house sean spicer called it not an accurate assessment where we are today. is that the case? before we go through what's in here, this reflects thinking on changes to nafta, right?

monday, never used to care about this, but get this, monday we got a couple of fed speakers, bill dudley, new him when i was at goldman, i care what they have to say, because we're a few short weeks away from earnings season and the banks report first, the bulls need this key leadership proof to come back to life. and the only way the banks do that is if the feds decide to race rates at least twice more this year, so the financials can make more money off your deposits. longer term interest rates are coming down and that's causing some investors to freak out. isn't it amazing that we actually root for hikes now? but we have to because the financiers are part of the market and we can't afford to lose these two. let's hear what the fed has to say. speaking of slowdowns, there's a stock investors flock to when there's a market downturn, i'm talking about mccormick, mccormick has an analyst meeting on tuesday. if mccormick tells a great story and the stock rallies big, you know what? that's a sign investors are going more bearish. but if the stock does nothing but go down, oddly that's good

brad: the union president teresa dudley said it was not organized. >> i was as surprised as anyone else. brad: she says it with the right decision to close after the absences mounted. even frustrated parents agree. >> it's a as a female, a lot of people don't think females are strong enough. brad: we talked to a lot of parents this afternoon. when we come back at 5:00, we will share more of their thoughts. one thing we heard today people wish they had more notice and they wish it had been better organized. in greenbelt, brad bell, abc7 news. alison: all right, brad. thank you very much. you know another large march was held in the district at the freedom plaza. you heard q reference this earlier. it was the "stop the gag protest." they are urging the president to reverse course on a policy prohibiting groups that receive funding outside the u.s. from providing abortions or abortion services. jonathan: not just in our area, because all across the country it was happening. women participating in these protests. this was manhattan. a very large group marching in red. those who could take o

secondly bill dudley said in an interview with yours truly here, said in an interview, the reason foroing up have become more compelling. in other words, rates are going up. that tells you that the economy is sound as is donald trump's trillion dollars. look. the market took a breather yesterday. it just took a pause. it literally took a little short breath. and now it's back on again. i was down at the exchange this morning, and the mood is one to push this market higher. >> i love how you describe it as this living breathing entity. >> it is, it is. >> richard quest. >> markets are the mass of people that are making movements. so it is very much a living breathing eating animal. >> richard quest, thank you so much. >>> this is a moment that's gone viral. one moment last night made donald trump presidential. most fellow democrats do not agree with that. we'll have van jones to debate. now give up half of 'em. do i have to? this is a tough financial choice we could face when we retire. but, if we start saving even just 1% more of our annual income... we could keep doing all the things

bill dudley says the case for tightening is a lot more compelling, and the st.sident has said the fed is closer to its goals now than at any time in the past 60 years. comments, given the we are seeing market expectations shooting, at one point topping 70% when it comes to the fed's speech. take a look at the function work on the bloomberg. i want to talk about this interesting read on the bloomberg from lisa. she talks about the latest conspiracy theory among traders, a small group of investors thinking that they are sending, trying to send a signal to raise rates. take a look at this hike and the probability of a rate hike for march. , up from 40% in just the span of a few hours. , ife is speculation that they wanted the fed to raise rates sooner, it could help him to do so by pushing around the market. none of this is proven, but speculation is out. it is like a conspiracy theory. very interesting to look at the market expectations right now, but what the fed will do now about the speech is done with. let's bring in our guests, the faaging director of securit

many of them cited with bill dudley, what he already said.et's look at the world interest rate projections. it has so dramatically changed. it let's start with the turquoise line. it looked hyperbolic, doesn't it? odds jumped to 32%. last week they were 34%. now it is up to 80%. why are we showing the white line? that shows you last year when we were headed toward december. the fed was supposed to hike, but didn't. in the last month they got to 100% and stay there. we might be setting up for something like that now ahead of this march meeting, julie. julie: quite a leg up there. words might have a little more weight here. for the latest data, does that support this move? >> let's say they do not stand in the way of it. we have the institute for supply management, purchasing managers, rising to the highest since 2014 at 57 .7. the key indicator seems to have stalled out. let's jump into the bloomberg. this is a blue line, the headline number on this very to 1.9% come, up almost to the feds targeted 2%. but we are watching the white line, the c