esther george's position is no.ty clear the jobs report last friday did not really change anybody's view. i think we will wait to see for something that does. paul: well, how about the fed chair jay powell, is he going to be the policy tiebreaker? kathleen: on friday, everybody was geared up to come out with the jobs report and give us a sense of are you tilting towards the rate cut. it was only a six paragraph intro to an event. he's speaking tomorrow at the annual meeting of the national association of business economics in denver. it is the perfect place for jay powell to look at the economy, look where fed policy has been and give it a sense of where he things it is going. his recent mantra has been the economy is in a good place. but after the last meeting when the fed cut rates and he did his press conference, he said the fed will do what it needs to keep the expansion going. if he repeats that, he's at least open to another rate cut, certainly in october, maybe the end of the year. he has said also that resea

edward lawrence has headlines from esther george i believe. what is the headline, please?ity federal reserve president esther george says the federal funds rate should remain where it is. she doesn't think the economy needs accommodation going forward. fed met mandate of stable prices and maximum employment. she believes manufacturing is slowing. but that monetary policy cannot get manufacturing going. it is other avenues, that need to spark that. if she sees the economy slowing down, starting to affect the consumer, she would turn to vote for accommodation. she is important. she is a voting member of the fomc. that is the committee decides where interest rates will be. she will vote in a meeting later on this month. her voice, appears now will say she want to stay where she is. in fact the last two meetings, where we had rate cuts, she dissented rate cuts. stuart: edward lawrence, esther george, keep rates where they are for the immediate future. dennis gartman you heard all of this? do you want to comment, dennis? >> miss george has been one of the great hawks on the fom

kansas city fed president esther george. rosengren both dissented.ow do you telegraph further rate cuts from here when you have that kind of division within the fomc? charles: danielle? >> comes down to the word in the statement, which is assess. they will follow every data point that comes out. if they were data dependent before. i think fed will be hyper data dependent. i think it will make market as little more volatile. look mortgage applications are coming out or initial jobless claims. the market will be super sensitive. they know the fed is in assessing mode. charles: let me ask you a main street question from one of our viewers. does our guests do not think, rate increases specially for home equity loans put more money for consumers. >> home equity are extremely high. so are credit card rates. >> recent reduction in rates are helping auto sales, home sales, appliance sales. >> home equity, no. >> right, absolutely. charles: helping housing overall. looks like household formation is back. hal, what if we don't get the rate cut we should get th

esther george on the other. who will win?dable opponents. -- kathleen: formidable opponents. we can put them on two sides of the argument. if we start with neel kashkari, when the fed was reluctant to cut rates early this summer, jim basisd was -- a point cut. sees risks-- he continuing. global economy slowing. inflation below target. he says we need to support the economy with rate cuts, that is, not cap on the brakes. here is what he said earlier today. cuttinghappy we are interest rates. i don't think we should be raising them. how much more do we have to cut? i don't know yet. kathleen: let's move onto to esther george. she has dissented against both times the fed has cut the key rate by 25 basis points. he was speaking 24 hours ago in denver. she repeated what she said in the past. the economy is ok. labor market still strong. people are spending money. you do not need to cut rates until you see a slowdown. you only want more cuts if the data say there is a need for easier monetary policy. is not that far below target. c

we will see if we get any more remarks from esther george. strike talks stall for general motors. get a live update from detroit. this is bloomberg. ♪ i am paul allen in sydney. kathleen: i am kathleen hays in new york. general motors and union leaders hit a roadblock in the strike. uaw said talks have taken a turn for the worst. the bureau chief joins us on the line with the latest. a turn for the worst. how worst is it? often twists and turns in negotiations as you get to the final throes. that is where they are now. they set on a big issue which was temporary workers and how to make them full-time. they have not told us how but they have a framework. now the union wants assurances for factories that there will be job security for the workers. they want more investment in the plants in the united states. that has been an area which has been tough for gm to commit to because they don't need to add capacity in any place and you have plans under the alliance so they don't want to guarantee jobs. they want to pay pretty well for the jobs that they have no not really add much. now an

kansas city fed president esther george said the fed should not cut rates to come bad low inflation.ey are too little to counter anyway concern about low inflation rates are unnecessary and that the u.s. economy is in, her words, a good place. >>> shares of uber are higher in pre-market trading stock is upgraded from buy to neutral at citigroup it's seen a positive shift in sentiment by wall street surrounding the poor ride hailing business and hsbc quarterly planning to cut up to 10,000 jobs and 4% of the work force. if the bank's interim ceo is looking at the cuts. >> doesn't that affect the profitability. >> it could have a nobel prize. >> yes, for how it has changed the way we live. >> meantime, tech, sports, geo politics all of it coming together alibaba's co-founder and nets owner, joe tsai weighing in. the tweet has been deleted some chinese brands withdrew support from the rockets the nba has been thrust into an international freedom of speech debate several hours ago tsai posted an open letter, it's a long one but worth the read saying he felt compelled to speak out and supp

esther george, kansas city fed president saying the economy does not require rate cuts carl, the issue think whether or not to take clarita at face value meaning he is neutral or the market takes at the is not leaning where the market is priced, therefore go ahead and expect rate cut. interesting question whether he means to guide this way or that way. in the actual language he is using, he is very neutral about what the fed will do the end of the month. >> kaplan used the word agnostic are you having doubts about october? >> it is more in play than the market is priced for last night, 83, 85% problemability of rate cut there's a bunch between now and then, durable goods, ecb will meet the problem for the fed, things they want for the decision happens on the day of gdp or a day after which is the jobs, few days after the jobs report, or in the most important case of all, the xi trump meeting, potential meeting is two weeks after. i don't think anything right now is more consequential for what the fed does than what happens on the trade issue >> all right steve liesman, thank you >> ple

kansas city fed president esther george, boston fed president eric rosengren. both believe the fed met their mandates, stable prices and unemployment. it makes the fed rate 1 1/2 to 1 3/4. melissa: the fed heads try to make the tone as boring and low as possible. they must teach them that. gerri willis on the floor. >> we talked about how this is volatile day but on a federal reserve day you would expect a bigger move in the dow other than 115 points. typically jay powell tends to move markets big time one way or the other. usually negative. so this was considered a positive. i have to tell you, traders on the floor of the exchange saying hey, that was a good fed outing because the federal reserve president said really nothing they didn't expect. so you saw very little move. dow ending up 114 points. meanwhile s&p 500 hitting new all-time high. it had to beat 3039. coming in at 3046. very good indeed. good news as s&p 500 all-time high as you said. dow winners for just a second. j&j we talked about in the show last night, new tests of baby powder from a recalle

that is according to esther george. she dissented against the last two rate cuts because the u.s.conomy is doing well. she is prepared to cut rates if she sees a sharp slowing of growth. george is widely considered one officials atawkish the federal reserve. in the u.s., the second whistleblower may be ready to emerge in president trump's impeachment saga. the lawyer representing the first -- law firm representing the first says it is acting on behalf of multiple whistleblowers. the second has not yet spoken with the committee is investigating the president. the white house says this does not change the fact that trump did nothing wrong. is -- north korea's assessment that nuclear talks broke down after pyongyang's top negotiators at the u.s. arrived empty-handed. global news, 24 hours a day on air and @tictoc on twitter powered by more than 2700 journalists and analysts in more than 120 countries. matt: i will pick it up. cutting more jobs. as many as 10,000 could go as part of a cost-saving plan on top of the 4700 redundancies already flagged. europe could bear the brunt of this

if you take esther george's comments and eric rosengren's mmments, it does not atter what neel kashkarinks about keeping your foot to the floor. he is not voting. let's roll it over, because betting away risk is personified in dollar-yen. dollar-yen, we've got a lovely note from j.p. morgan. yes, yen is lighter on its feet this morning. . you see the dollar up, yen down. struggling to get through that 106 level. if you think about the currencies that are essentially ground zero for trade, it is -- trade wars, i should say, it is aussie on the trade and new zealand's central bank has been most forward acting. let's talk about the markets. chinese markets have reopened after a week long holiday. the data is less than stellar. vacation services pmi fell from 52.1. on, and still expansi that is the critical point. investors focus on the possibility of trade talks resuming on thursday. in an unexpected move, the trump administration blacklisted 8 chinese companies, accusing them of human rights violations. they were specifically in technology. let's get to our anchor and correspondent for be

esther george says she dissented against rate cuts at the last two fomc meetings but would support anotherronger slowdown. she says the u.s. economies moderation is in line with her outlook for the medium-term and a change of policy would be appropriate if the data showed a broad weakening. u.s. payroll numbers are showing a worrying sign. job losses in manufacturing. total employment at factories contracted by about 2000 jobs last month. economists had been expecting a gain of 3000. the figures are the latest indication of the beating u.s. manufacturing is taking amid the global slowdown and president trump's trade war with china. two brexit, reports from london say prime minister boris johnson will refuse to resign over brexit. he is prepared to challenge the queen to fire him if he fails to win a new deal with the eu. the sunday times is reporting johnson will not step down if his plan is rejected by brussels and will not suck down -- step down if he loses a vote of confidence in parliament. to preventoted brexit in the event of a no deal brexit. north korea and the u.s. had very differ

esther george of kansas city. there is your debate. this is maleableover time.e desk with peter dixon. they don't do this at the bank of england, do they? is the bank of england more civil in its process of raising and lowering interest rates? >> i don't think they are as bad as the fed. the fed they have much more kind of public displays of views being done. people making speeches or indeed being interviewed by you. tom: charles evans with me. francine, save me here from the editor in chief, please. francine: we want to talk about u.s. politics actually and the crossover between what the fed can or can't do, with interference, president trump continuing to talk about the fed not doing enough and the impeachment process. what will drive markets in the next couple of months? >> i think at the moment, the markets don't seem overly worried by impeachment. they seem more concerned about trade and frankly more about brexit than they are really about impeachment. however if impeachment becomes serious then you could see that will make a big difference. if something wo

have a great show on friday, 50 year low upon unemployment kansas city federal reserve president esther georgesterday she believes u.s. economy is is in a good place. she's not opposed to another rate cut. but we'll see. this, you know, it has been incredibly divisive within fed. some of them do not want and from pennsylvania from philly other day president of philly said he goes no we want to wait see how things go no more rates for now. >> awful large in the rate cut camp and that is yield curve and when fed finds highest bonds on empire rate curve, you -- you have to cut. it is just a matter do we get one or three more? right, you given yourself very the room to negotiate if you're the fed. but then again with all of the revote madness over last few weeks it is inevidentibility to provide liquidity to market and tightening has made a difference on dealer balance sheet so this has been a cat in the house, and some surveys the pmi survey given the fed cover for them to cut but i think we're going see 25 basis points at the end of the month i don't necessarily know what comes after that. >> fu