holtz-eakin,uglas former director of the congressional budget office from washington. welcome back.he president says we should have lower interest rates. is he right? douglas: he may be right. i do not think it is for the reasons most people are talking about. we got the employment report and the topline numbers were 75,000 and we got this panicked response out of a lot of people. if you look at the demographic, the population is growing under 1%. if labor force participation is constant, and of the unemployment rate stabilizes, which it has, we should be creating about 90,000 jobs a month to absorb the new workers. we are headed there and got their last report. that should not surprise anybody. you are not going to greet 200,000 jobs a month. the wage growth to not slow down. if you look at production workers, it is still 3.3%. labor force participation solid. there is nothing wrong with that report. i worry about the household sector. has goodhold sector balance sheets, low unemployment, rising wages, and in the first quarter we saw negative growth of durable goods and topline pce

i would like to express my disappointment with commissioners eakin, brinkman and rupky for not understanding the fine grain nature of the city and county of san francisco, from not understanding who are extents constituents are, but i will not leave this alone and colleagues, i apologize to you, for this will continue. and with that, i commend this resolution to all of you. i thank almost every single one of you who have affixed your names to this instrument and i ask for your support. >> thank you, supervisor peskin. let me say a few words here. i actually grew up in -- i was born and raised and grew up in chinatown. i worked most of my adult life in chinatown in organizations to try to make things better for our children and families there. and in many ways, my road to community work started almost the same time as rose pak, when she started our activism in chinatown. we were both from but didn't cross paths. so i don't know her as deeply as others, but i know her by reputation and so i can tell you what i saw from afar. and maybe sometimes not so afar. what i saw was that -- there were a

ofwhat is now the home football will be the home of baseball for one eakin.ng sent to the u.k., but can they reach a new audience? >> that's it for now. more sports again later. >> lovely. that wraps up the newshour. i will have another bulletin for use in a couple of minutes. i will be back very shortly. stay with us. ♪ - it's chilly. i got someme little sweetsts fo. (quiuirky instrumental mususic) - [leah] hi grandma, good morning. put a little sweater o on. pleasese you'll cacatch a cold. get a sweater, please. really? look at it. you see? in here. okay, for everyone..... (l(laughing) - [l[leah] neverer too early to eat c chocolate. - [sonia] the sunshine is trying to come out.

. >> madam chair you have a quorum both directors eakin and heinicke are absent with notification. >> i'd like to welcome our newest director, director

. >> madam chair you have a quorum both directors eakin and heinicke are absent with notification. >>ur newest director, director hemminger. we're delighted t to have him jn us on the board. would you like to say a few words? >> it appears you put the rookies next to the executive director. ed had me under surveillance for years. it's nothing new. i look forward to our work together. >> thank you. item 3, announcements of sound producing devices during the meeting. be aware the ringing and use of cellphones, pagers and

. >> madam chair you have a quorum both directors eakin and heinicke are absent with notification. >> i'd like to welcome our newest director, director hemminger. we're delighted t to have him jn us on the board. would you like to say a few words? >> it appears you put the rookies next to the executive director. ed had me under surveillance for years. it's nothing new. i look forward to our work together. >> thank you. item 3, announcements of sound producing devices during the meeting. be aware the ringing and use of cellphones, pagers and sound-producing devices are prohibited and any person responsible for the rimming of use of a cell phone or similar electronic devices may be removed from the meeting. cellphones set on vibrate cause microphone interference and we request they are in the off position. approval of the remember meeting minutes. >> any comments among the board on the minutes from june 4th? >> is there any public comment on the minutes? >> i have not received any speaker cards. >> motion to approve. >> second. >> all in favor. >> aye. >> aye. >> those are approved. >>

caroline: we want to thank douglas holtz-eakin.e are going to talk about the federal reserve and we have fantastic bloomberg exclusive. we are going to go to aspen where we can hear from the aspen ideas festival in colorado. erik schatzker with two people in corporate america. >> the ability to compete. the ability to deal with globalization. the ability to deal with technological change has not been the forefront of public policy but this asset price thisciation has caused growing inequality, and the growing inequality is part of the equation of this trend towards, if you want to call it populism, you can, but the drift away in politics in america and europe in particular towards the extremes from the center towards the extremes. i think that looks like and to a warfaretent, is, class and politicians of all stripes in europe and america have been feeding on that and exacerbating it and encouraging it. >> where do you take it goes from here? paul: depends on leadership. at the moment, i am particularly pessimistic and the reason is

i won todd eakins' congressional district last fall. think about that.wn for a republican. i actually defeated my opponent within the boundaries of that congressional district. i never thought that would happen. but there is something going on out there and i think those voters are likely to vote for the democratic nominee for president, as long as we don't go. you know, we've got to absolutely pull in the populism in our party. we have to pull in the people that are very excited about aoc. we have to get them united in this idea that donald trump is a threat to all of the values that we all share. and if we can do that -- >> but he could not have been elected in the first place without the indispensable help of the democratic party. >> there's no question about it. and the other thing i want to mention about meghan markle, he did something very interesting about going after that princess. in that this is a woman who is symbolic to a lot of americans and a lot of people in the uk. she's popular, she's smart, she represents a change in many ways, a modern