the fed i. know. he's. going to. lead. me there like a little bland years but he maybe will throw enough good they. might pull out a bust clear. you know again oh yeah look away through yellow by you know look i i mean. a little bit of. you will be there with that i would look. a little. but i've yet to get you going i'm not going to be one of our bibles but i am also going to get angry men to get on board all of the young guy indian women. in the house but i will have left out of my modelling berlin my minister before me and. my provocative or is it a lesson whether online we were in hurricane winds for almost like thirty six hours these are the things that you care has to address or if you join us on set a member become close one but we struck up a relationship this is a dialogue tweet us with hostile a.j. stream and one of their pitches might make them actually join the global conversation at this time on al-jazeera. training starts lightly but the pace picks up quickly as these grannies work out a long lifetime of frus

. >> back to the fed. i know you don't want to get to , five namesive game have been out there. ve been reporting fed it may be down to two. what are the implications of this choice? >> i think the implications and happenings turnover over it. a time is quite significant. however, i think we have to realize that power is given by the committee. it does not come when you -- come when you walk into the door. the person will need to spend time building credibility can i think what that suggests is that at least over the first year, the committee is going to be the center and we will have more continuity over a longer. riod of -- a longer pe time. governorld get a new -- >> i think of the three some of the fed chair is the one in which overtime could have the greatest impact in terms of shifting for policy is going to go. i think china and japan, the choices will be ones continuity. we believe kuroda will get a second term so i think it is the fed chair even though it will take time to see the changes. >> another rate hike by the end of the year, right question marks >> end of decemb

reporter: with the fed, i know you will not give us a name, i will not ask you to give us a name -- >if i did. would it be fun? [shouting] >> that is the most excitement we have ever gotten out of this room. sorry. reporter: if you want to give us a name, we'll take it, my simple question has the president made his decision or is he still debating it? >> i can tell you it is not major garrett. but beyond that i don't have anything to weigh in on. reporter: during the campaign repeatedly castigated hillary clinton for not coming forward and coming clean when she got debate questions ahead of the debates. why didn't anyone in the trump campaign including his son, come forward, when there were solicitations from russian agents to provide dirt on his opponent? >> i'm not sure how those two things are even remotely related, so i couldn't begin to figure out how to answer that? reporter: getting sense of proactive duty to come mean when there is an ethical question. is the president upset people in his campaign did not come mean when there were ethical questions -- >> i don't believe that t

cliff: the fed i know is really pragmatic. they are interested in figuring out what is going on. asked chairman don cohen, how good you think your inflation models are? he is a humble guy. he said, maybe not that good. the fed predicted it both ways. in the early part of the last decade they were looking for deflation, it did not happen. now they look for inflation, it is not happening. there is plumbing that needs to be examined. normalizesome want to and many will say rates are very low. a near-term promise or issue is the hurricane. the hurricanes are going to potentially skewed data so strongly. when it comes to december, the fed will maybe be making this notsion, divided again, based on a change in the inflation rate they can count on. the numbers still did not tell them if the numbers are moving enough, if the majority is saying it does not matter what inflation does. they say they are data dependent but will hike rates anyway. cliff: they have always been pretty dovish, it is not a surprise. ought to be divided on -- i want to emphasize this, it is not, do we hike or don't

the fed had for many years tried to reduce the burden of required reserves on banks. so in terms of the going forward i don't know. i can tell you if the fed wasn't paying any interest on reserves the banks wouldn't have 2.35 trillion. i guarantee that. >> the fed won't -- the reserves won't disappear. they are never destroyed. they are tied to those. what would happen? >> they could over reserve multiplier. >> and you would have massive inflation which paying interest on reserves cuts out the classic theory of the reserve multiplier. that's a hugely fundamentally important change which was made. i think without a lot of discussion of what was going out. >> i think it would force him to be temporary. that's what would be different about it. the operations would have been the normal -- it wouldn't have been an incentive to keep something like this in place. it wouldn't have been economic incentives to keep it in place without the higher interest on excess reserves. >> it yields down. >> maybe. >> we'll see. >> so one of the reasons for wanting to pay interest on reserves and they asked for it early 2008 before the

fed. i don't know how they know that. he's a governor, of course he votes with the current fed president trump finished interviews with the five candidates he's considering. a decision could come as early as next week politico has advanced the story on this, so they have some credibility showing that the president is leaning towards powell there are report that's treasury secretary, steve mnuchin, is leaning towards powell it is considered friendly for risk appetite stocks >> it's continuity, right? it's the idea that you have an existing governor, part of the system since 2002, and he's never dissented from the overall fed as a governor. >> as a governor you don't do that she appeal to both sides of the aisle. the democrats may be in favor of him, continuity from janet yellen, the economy is doing okay the republicans, he's a republican, he's got private sector experience. so they might be appealing to them >> private equity guy who has a lot of experience existing within the circulation of systems within the fed it's an

feds. i want to know how come you right to workng down our throat without bringing it to the voters when it has been in front of the voters since 1970? and gotblicans got in it back in like they did in wisconsin and indiana. i would like to understand why you are dragging the working thele in this state down tubes and making it right to work like the rest of the southern states because right to work has not worked out for them. host: i think we got the point. secretary ashcroft? guest: on the first question with regard to voter information. chapter one,n section 115 of the revised statutes, it defines what information is a public record and it refers you directly to 610, which requires we divulge that information to anyone that swears they will not use it for commercial purposes and pays the fee. our legislators and talked to the speaker of the house and i think it would be great frost to have a conversation about what should be public information because there has been a lot of discussion and a lot of people have come up to talk to me about that. , am going to follow the law that is simple

i don't know if it has much to do with the fed chair or stimulus, i still think it is a qe aftereffectnathan: i think people might have watched what you said and be nodding their head. get out of the market, we want it back, but but volcker back? really? he had inflation to deal with. with a two handle, or a one handle. come on. bob: inflation is picking up. i am going to pull up a chart because i get this all the time. people say no, there is no inflation. and you see it. you see year-over-year wage gains coming up. you see the inflation across europe, japan, china. it is all picking up. jonathan: is it picking up, marilyn? marilyn: it is picking up to a certain extent. but still, i think, from very, very, very low levels. so it is all relative. certainly still at very low levels. jonathan: michael collins, you will take the other side of that, i assume? mike: all day long. i think if the fed gets the fund rate anywhere near 3%, it will in sure we going to recession and the stock market crashes. think about it. if you have a money market fund at 3% or 4%, everybody would take all thei

i want to pull up the chart on -- bloomberg, g #btv 23 looking at the odds of who is going to become fed chair. i don't knowentifically grounded that is, but jay powell is at the top of the pack. janet yellen, interviewed the president, made a return visit -- it ended up being she was there as part of a former part of the job, to meet with gary cohn and members of the white house staff. what have we heard about how this process is unfolding? kevin: i feel like i'm back on the campaign trail. we were on capitol hill when we got a report that janet yellen is back at the white house. so we are rushing their, and i spoke with the source earlier -- this is a routine meeting. the fed chair meets frequently with. but with two of the five names on the shortlist are together in a room, a lot of folks watching that chart you pulled up his fascinating to watch, how the latest twists and turns have developed. has perhaps evidence of such. i have spoken with several sources, including on the senate banking committee, they will have to move the nomination to the senate floor. that fed chair yellen is actually number five

a familiar double leg i mean it's pretty which is he's laying it on the line to the john yang hey you better do the deal with to listen. because otherwise you know i might get fed up with it and i'll do something really terrible it's certainly a great risk i mean this is this is brinkmanship and brinkmanship is always very dangerous you know we've had brinkmanship before we had the you know cuban missile crisis where. power is back down to the last minute you never know with with these things it's hard to know exactly what military options the united states has up its sleeve you know korea is in an awkward position are they relieved willing to go the distance of the really willing to risk. total annihilation and then and therefore the complete annihilation of their regime so that's why i think killing yang's hand isn't really that strong but you know what though i mean this could. this is dangerous stuff it could easily get out of hand and i hear we're not international we're bring you all the latest on sunday's terror attack in mar say that did leave two people killed back in just. it's. clear. here's what people have been saying about rejected in the us exact

a familiar double act i mean it's pretty much he's he's laying it on the line to the john yang hey you better do the deal with to listen. because otherwise you know i might get fed up with it and i'll do something really terrible it's certainly a great risk i mean this is this is brinkmanship and brinkmanship is always very dangerous you know we've had brinkmanship before we had the you know cuban missile crisis where. power is back down at the last minute you never know with with these things it's hard to know exactly what military options the united states has up its sleeve you know it's korea is in an awkward position are they relieved willing to go the distance of the really willing to risk. total annihilation and then and therefore the complete annihilation of their regime so that's why i think killing yang's hand isn't really that strong but you know what though i mean this could. this is dangerous stuff it could easily get out of hand. i want to bring your mind on our breaking news story coming out of nevada police are responding to an active shooter in las vegas near mandalay bay casino this is according to the official twitter feed for those pictures th

i could go either way on it. >> mr. president, who do you want to see running the fed? >> well, as you know number of people. and most people are saying it's down to two, mr. taylor, mr. powell. i also met with janet yellin who i like a lot. i really like her a lot. so i have three people that i'm looking at. and there are a couple of others. i'd say i will make my decision pretty shortly. >> isn't there a way you can get taylor and powell in there because you have a vice chairman opening as well. you could actually put them both in there. is that in your thinking >> it is in my thinking. i have a couple other things in my thinking. i like talent. they are both very talented people. it is a hard decision. it is a very very important decision. people have -- most people have no idea how important that position is. that position is actually more -- a lot of people say get rid of the fed, take the fed out. the fed is a very important position. it is also important psychologically, if the right person is in there, a lot of good things can happen. i think i'm doing a good job for business in tha

it's because i was completely you know, fed up with the life of begging, life of poverty, and hopelessness then i wanted to take away my own life. commit suicide. and during that time, i was standing somewhere. a young man was passing by, and he was a little bit older than me. and i felt wow, what can i do? god, and this man approached me and said i want to take you somewhere. i would like to go with you. that moment was really a different time because i felt like oh, somebody's calling me to take me somewhere. then i followed him. we ended up in a church where i found the young people. they were singing and dancing. they were full of joy. and myself, i was appeal, my face looked pale with a lot of the bitterness especially because of my father who abandoned me or used to beat me or used to create -- in our home when i was a little child and therefore, there came a preacher and the leader, you know, a pastor and then he was preaching. so hard those days when i was that age and i can still even today remember that there is forgiveness of sin. there is forgiveness for whoever feel that he ha

i know the fed is. officials, i was talking to pat harper, who said we have to watch out, not to invert the spread or get close to inverting the spread. it is something on the mind of the fed officials. in your experience of having conversations with those of the federal reserve, you think they are aware nothing doing enough about valuations, the complacency about the list and all the votes we have seen of cross asset classes? or do they need to do more? mr. siegel: we remember back to the irrational exuberance speech greenspan made in december of 1996. that was about three years too early, before we actually did peak. the fed has and janet yellen has said, we find valuations historically high. but she always says, given the low interest rate structure, we do not find that to be threatening to economic stability. i think that is basically the way they are looking at it. i do not think equities are really big -- a threat, one way or another to the fed. to be sure, if we see a spill in the market for any r

>> well, i think the fed has been doing a fine job, first of all, but i don't know what's going to happeny the most, not about the person, but about how independent the fed is going to remain you know, will suddenly the fed chairman be like rex tillerson where they are getting stabbed out all the time, feeling undermined will trump file people in in the first appointment he made, you know, was in randy quarles was encouraging, but, yes, i worry about the dynamic between the fed chairman and the president the people being discussed though are pretty reasonable and keeping fingers crossed. >> excellent dr. rogoff, thanks for being my guest. always a pleasure. sara, back to you. >> thanks, rick. does the nfl have an attendance sflob why the widespread national anthem protests are having an effect on ticket sales. more after this. >>> welcome back to "squawk alley. widespread national anthem protest having a big effect on nfl ticket sales and attendance. our own eric temmey is here and has the latest on the story. >> reporter: after the last weeks of controversy we so a 2% decline in ticket p

i think he's angry. you know, i think he's fed up with a lot of things that are happening and having -- you know, he's very protective of the armed forces, starting with his own son, of course. but this is a very sensitive issue to every not just to the families who have lost their loved ones, but everybody in the armed forces. you know, they're still engaged. there's no healing that goes on. people just finally get it in context. i think john kelly was angry. he didn't like the way the thing was being played out. i'm sure that, you know, the president's words were inadequate or triggered some reaction, but this shouldn't turn into a long discourse about, you know, who said what to whom. we ought to stay out of this thing, for god's sakes and let the military bring them home and turn them over to their family. >> you know, if we had 20 million people in uniform, it might be different. it might be able to argue persuasively otherwise, but we've outsourced the defense of the republic to a very small number of men and women who are willing to do that. and i think he's right. just stay out of it. >> powerful w

fed. the real issue remains inflation. matt: you mentioned a rule, first of all, and i do not know which rule you are talking depending on whatuts are, the fed rate is way off. zero neutral real rate and inflation target of , we, and by that measure are too far up to what rule do you think the fed should be looking at as far as inflation is concerned? you have to go all in on productivity. growth at the end of the day, which is the political atmosphere, the political parliament is trying to get, is growth and full employment. full employment comes through growth. relativity. it is to focus on how to get the u.s. back on track to get the of the structure investment increase in the r&d in the space, and doing that. we are offering tax cuts. we are offering ways of mingling. productivity is the call that needs to be had. want to be all about how they abandoned the two percent inflation targeting and moved to something like productivity as the main target. guy: how do you do that? how do you actually practically make that happen? steen: you saw to some extent already with qe. , qe wasemember everything. academic papers were sayin

or a little oh my god you know you know what i don't get it but i don't care but. fed up with waiting ramiro risked everything. i. bet that's a risky and the scene with a few dollars. members have about how. he could easily be swept away by the coverage. that. he was now get across a mountain area eroded by deforestation you're no good. at it he may go. yes go go to. the fair stuff where the kids are the stuff that you know. that you're not the fan of it also. says. the moderate up. and. coming on. my shoulders almost. without them because you know how i'm going with all. what i want what. the rain doesn't stone and bolivia's slowly sinks into a major natural disaster. ramiro is making slow progress towards the past. but now it's a whole hill that's went down over the road. to a. civil hospital he thought he. was impressive at about how to begin to get that high but a bus that. was awful couldn't that i had. missed but get there but i believe that. a landslide has swept away the road is one hundred metres below. the benefit of there's another number up at an average on

i thought well you know. i mean can you because i'm in home. i want to know anything with tornadoes and i know the model coordinates and then the fed into syria and this and that and then they have an issue of how one woman on the subject in the doesn't sound mind that i'll bet you. one of those had to be additional you know that funny bit of the tall order was something about that then one of the protests in flint michigan seven for the confusion about this well you. know it was this had let them come out of the battle but i can feel ok for you that whatever they got to feel. then is for the better of it and in this instance so reading some of her of the of for. being as well able to see her. own a lot of this. and more you know within that mindy had a bit of a. you know what i said you know i never felt the phone. and the you know. any usual hasn't thought about it when not in the army i mean about that oh and what was so this and no matter that i wasn't at my house again. i mean there's you know and the general dos and you know what overload old without any thought on the mileage. but as it was no one had a month ago i thought was it was sort

with that in mind, will the fed go in december? >> i don't know.gs we tried to do and i try to do, is let the data tell me what the marketplace is doing. because of the storms that have racked a lot of my district, there is a lot of noise in the data coming out and i'm going to try to go into the field and talk to my business contacts and get a sense of how disruptive it has been and from there, draw a conclusion about what i think we should do in terms of monetary policy. ago, eric said to bloomberg news we will be close byour 2% inflation target the end of 2017. that is the kind of forecast that has drawn some questions on global wall street. >> right. if you look back to march, we were still expecting 2% inflation and one of the things that occurred was the wireless pricing change, which had an impact on the current numbers. we are trying to get the underlying trend on prices. that is one reason we focus on core inflation rather than total inflation. oiltimes we get spikes in and sometimes oil goes way down. that is not predicted. we are not try

as you and i talked before, i know the candidates, and i've got good relationships with several of them mentioned i think any good leader is going to look at how to make the fedas an outsider coming in, i think the fed from a monetary policy point of view has been a very effective body, and i think it's been effectively led. it's not saying it can't be better i think it can i think we'll continue to improve whoever the leader is. >> don't miss another. imf managing director christine lagua lagarde. "squawk box" is coming right back draws youthful populations to mobile banking and e-commerce. trade and travel surge between emerging markets. everyday our 1,100 investment professionals around the world search out opportunities for alpha. partner with pgim, the global investment management businesses of prudential. at ally, we're doing digital financial services right. but if that's not enough, we have more than 8,000 ally's looking out for one thing, you. call in the next ten minutes to save on. and if that's not enough, we'll look after your every dollar. put down the phone. and if that's not enough, we'll look after your every cent. grab your wallet. access de

going to get the income and spending report that contains the fed paschi inflation indicator, the pce core deflator. you know as well as i do that the fed target is 2%. the consensus at the fed, which is going to make that decision in december, not whoever is leading the fed next believe that a labour market ultimately has to boost wages, and ultimately, that is going to boost inflation. that is what they want to move in december. it will be interesting to see the closer we get this new fed chair, a new fed vice chair, three more seats on the board of the extent to which president trump is going to be able to change the complexion and the fed. body. it is a the fed chair leads it. we will see what happens this week. who are you guys betting on? that is my secret, kathleen, and i am sure it is yousef's as well. [laughter] kathleen hays. let us have a look at how all of this is working out and dovetailing into markets. let us get a bloomberg markets macro strategist, mark cudmore in singapore. absolutely. these risk events mean this week that there is a -- it does not matter who the fed chair is. the fact is that there is

i thought well you know. i mean can you because i'm in home and i want to know anything of tornadoes and i know the model coordinates and then the fed and this is not an issue that i'm i'm i have an issue for one on the subject in the doesn't i shan't mind that i've been here. when if there was any additional level of funding below the top order. was wrong about that then when the man appointed no inflammation can settle the federal level confusion at this well you. know it has this had let them come out of the battle but i can feel for you that whatever they got there from the awful. things for the benefit and in this instance so they're doing sort of have a for. being as well able to see her. own little over this. one more you know with her but maybe have a bit of a. you know what i said you know the never forget the phone. doesn't you know. with any eugene oregon as you thought about it when not in the army i mean about that oh and what was so this and no matter that i wasn't at my house again. yeah i mean there's you know and the general said you know what overload told. me out on the my life. was less than one hundred a month a

or a little oh my god you know you know what i don't get it but i don't think your father. fed up with waiting ramiro risked everything. i. bet that's a risky and the same with a few dollars. i must have about how. he could easily be swept away by the cover of. how. he was now get across a mountain area eroded by deforestation you're no good. to go from we barely go yes go. up the first dump where the kids are just out the meal . time you're not the man of it all. the motherhood up. and. down the coming of. my children who must be without them because you know my husband with all. what i want what cars. the rain doesn't stone and bolivia's slowly sinks into a major natural disaster. ramiro is making slow progress towards the past. but now it's a whole hill that's went down over the road. to the. civil hospital he thought he. was impulsive at about how to begin to get that high but it does not. stop to look at any of that i have seen. this but get there but i believe that. a landslide has swept away the road as one hundred meters below. together that of there's another number up

by the -- yep. >> i was just going to say, i think it's pretty clear that john taylor -- the taylor rule right now would have a 3% fed funds rate i don't know if he's saying he would necessarily do that, but don't you think that he would run a vastly more hawkish fed policy than janet yellen >> well, he could, but i believe chair yellen clearly decided it's appropriate to be more hawkish, to raise rates. she's been very cautious about starting and she's that kind of lady she's brilliant, but she's very cautious but when you've seen her start, she's moving and i think she will continue to move i think she'll move in december. and i think she'll move methodically so, you know, might move faster but within a year and a half we'll get to the same place. >> all right got to go at this point. kelly, always good to see you. thank you. >> thank you. >> thanks. good to. be with you. have a blessed day >> kelly king, chairman and ceo of bb&t with us. >>> dow lower again by about five points here the s&p is down about one point. the nasdaq down. we mentioned some of those faang narm names are underperforming russell down. >>> coming up next, drug make

i fed the money up. to. the nanny i haven't got a bus here but my connection. it's older than your feelings then you know i guess i could but i'm going to the next that i want but my heart what are you the more heather couldn't muster i mean i have adult life out among you and i just saw it come with the dakar like as a flower the way. that's never nice to get out of that you're not the first one would you know possibly. gentlemen how wonderful he has. been a large number of them and i saw the whole lot. going to be on the one where. they live and they can build that here. they can always have had and i can see why that . handy man now said how indiana. over the i've got a better. political system of the river is going. to have. more than. the home. that's. why i didn't. suffer long long long. shot or for that one i'm new to the front of you and i know why you like the shot of the big guy. that i. ran on up the line night that night when i sitting on either. you. know i have been. more pulled in a hundred so i'm going to. do it. and then do i mean how am. i going to have somebody. problem with you. that

i fed her money up. to. her nanny i haven't got a bus here but my connection that's older than your feelings then you know i have our bottom and the next that i want but my heart what are you the more heather couldn't i said i mean i have adult life out among you and i just stuck up there on the dock lot like as a flower the way. that's nothing i said in another thread if you're not up the hospital. would you have no hostility from a gentleman how wonderful he has so. much. going. on with a large number of them and i saw the how about. going to liam where. they live and they can build that here. they can always have had and i can see why that. i mean the head of meanness and i went into. the i got a. political office move the river. i go. home. that's. why i didn't. suffer a long. shot or a little bit of fun. for the fun of doing it i don't like it why do i get the shot of the big guy that i. ran on up the line my back when i said it i'm not a. i'm among the. many that are not. concerned. at all. in one hundred so i'm going to. do my mean have him a dinner. and then we'll. go to the head of somebody. not cr

. >> i think he's angry, you know. i think he's fed up with a lot of things that are happening. he's very protective of the armed forces, starting with his own son, of course. this is a very sensitive issue to every -- not just to the families who have lost their loved ones, but everybody in the armed forces, you know. they're still engaged. there's no healing that goes on. people just finally get it in context. i think john kelly was angry. he didn't like the way the thing was being played out. i'm sure that, you know, the president's words were inadequate or triggered some reaction, but this shouldn't turn into a long discourse about, you know, who said what to whom. we ought to stay out of this thing for god sakes and let the military bring them home and turnover their family. thank you both, general barry mccaffery, colonel jack jacobs. another break for us. >>> coming up, what are u.s. military forces doing in niger in africa? what's the mission? will it change at all after losing four of our very best there? what we are learning about all of it when "the 11th hour" continu

. >> fed is the key question. i know it is beautiful territory but there are a couple of obstacles. least, they can just have a want. but it will be a subset of tourists. -- that will be up to them to decide. be successfulwill or less appealing if they don't let some of these things. if they do a good job on the authenticity, the retails shouldn't be a retail, they can do wellness, they can do hospitality, medical tourism. a lot of things to do their -- there. i do not know if you need those other things. the number one reason to travel is sun and surf, they have the sun and surf and want to align other things. it is not for me to say.

rishaad: will the fed go in december? >> i don't know. that i try to do in advising my colleagues is let the data tell me what the marketplace is. , there is the storms a lot of noise in the data that will come out. one thing i will try to do is go into the field and talk to people in my district and get a sense of how disruptive it has been and draw a conclusion about what i think they should do in terms of monetary policy. thei: i want to go back to inflation conundrum, that global central banks in the midst of this almost existential crisis working out where the inflation is. that inflatione doesn't matter anymore and that perhaps inflation targeting is no longer the most relevant way for central banks to set policy? would you agree with that argument? >> i am not there yet. there is more to learn about what is happening in terms of inflation dynamics. inflation is starting to pick up across the world. i was in singapore, and they were reporting they are starting to see more positive inflation. toill be keeping an eye out see if that d

oh my god you know what i don't get it but i don't think your father. fed up with waiting ramiro risked everything. for the best that's a risky embassy went back to don. imus had a way about how. he could easily be swept away by the coverage. how. he was now get across a mountain area eroded by deforestation you're no good. yes go. get the best stuff where the kids are the stuff that you know. that you're not the man of it all. where do you think that the coming on. man i would go though must be i could possible without him because you know my heart don't we don't know what i want what garza. the rain doesn't stone and bolivia's slowly sinks into a major unnatural disaster. ramiro is making slow progress towards the pines. but now it's a whole hill that's went down over the road. to a. civil hospital he thought he. was impulsive it about how to begin to get the habit of us not. to stop to look at any of the i have seen. this but get there but i worry that. a landslide has swept away the road as a one hundred meters below. got a bit of there's another number

francine: i know tom was to go to the gun control debate, but do be having a idea on of the president chooses the next fed a bobby group -- lobby group. i think thek -- white house is holding their cards very close to the vest. i don't trust all of the names being thrown out in the media. i think there are some dark horse candidates that we don't know about. president's chief economist is a former scholar and bank staffer. think there is a process going on that we are not pretty to. tom: for a global audience, very quickly here, could there be a shift in the timeless gun debate on the united states of america. it is the romance of the west in the fields of america versus an urban east. that is the image. will there be something different this time around? john: we have not seen the gun debate change despite many of the mass shootings we have seen in this country. i do not think this las vegas incident will cause any further change in kind of the sclerosis around this issue. if you look at the state level, a lot of states have been loosening their gun control restrictions over the last five or so years sin

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i think whoever is fed chairman is likely to continue this slow, steady pace of short term interest rate increases. does that matter for investors? yes, in two ways. i think the first is that investors know that the fed is moving slowly and steadily. that's actually good news for stocks, because they're not likely to be surprises. that could change, but we don't see that changing. the second thing is as interest rates rise it gets a little more expensive to borrow. over time that could be something that does become a problem. but right now we don't see that happening anytime soon. the third thing is, if inflation rises unexpectedly, that is a risk. >> right. >> then the fed might have to increase its rates more quickly. that would probably be one of the biggest risks we see right now. we also don't see signs of higher inflation. that's been a puzzle. no price increases, no rate increases that are unexpected right now. >> kate, thank you. we have to leave it there. thank you for joining us. ka warren with edward jones. >>> ibm could potentially help lift the dow tomorrow as well, after reporting better than expected earnings and revenue late today, aided by the company's shift to cloud an

we can debate it, but i do not think we're in euphoria assuming no recession, no hostile fed, you know, slow rise in rates i was reading something the other day from jpmorgan where they said they didn't think a ten-year government would get above 3% any time in the next few years, and that's been the view well before them, my partner steve einhorn who does a great job in monitoring the macro scene has been of that view for quite some time. >> let me jump in and interrupt you because we're hearing from the president because we're talking about the stock market that we're hearing about right now. >> nobody even understood it and didn't know what was going on, and those days are over, so we're renegotiating certain trade deals, and we started the process for others it's actually a long process, as you probably know. you have statutory requirements and lots of other things, but the bottom line is step by step and we're getting it done and we're way ahead of schedule, i would say. >> yes, we are, mr. president. >> we started with nafta we'll see how that turns out may not turn out, and if i

speaking out of turn, but taylor has different views on where policy should be and how the fed would conduct it. mark: i knowl is a republican, but he was appointed to the board by obama. how palatable is he too conservative republicans? michael: the very right wing does not like him partly because of obama, but that was a package ontoto get jeremy stein the board. he had to put in a republican to get public and avoids -- votes. he was not really a democrat appointee. they would rather see someone in morer's mold who was much deregulatory, someone who wants to scale back the fed's involvement in the economy, and powell, of course, voted with the chair, with the fed in a lot of what they have done over the last couple of years, including qe. vonnie: -- mark: mike, you -- do you remember another period like it was going to be appointed -- every bit of news moves the market. think back through history through your time and maybe before, you remember any other period like this leading up to a new nomination? michael: there has never been anything like this. the closest you could come would be four years ago when

speech very much the way kevin warsh gave a speech that was very critical of the existing fed structure. i don't know would take the vice chair position, but perhaps if asked by the president and the president said i need you to serve in this role, very much in the way stan fisher, another imminent economist, served as vice chair for janet yellen >> i didn't misspeak the double mandate is of course inflation and employment levels. not employment and the economy >> the thing that upset congress was the $4.5 trillion in quantitative easing. r you don't want the fed to have to do that change the law >> give me a read, u.s. gdp growth, third quarter, 3%. annualized, a bit better than expected in terms of 2.6 what's your overall view the inflation deflater jumped 2%, and the savings rate may have declined. your thoughts? >> i haven't had the time this morning to pore over the details, but my understanding is most of the little surprise, not a huge surprise, the upside surprise in the gdp came in inventory investment, which tends to get reversed. not always, but typically gets reversed in the following qua

i know. i will go with some questions where i know the answer and she doesn't know the answer. simple example. did she communicate with him after she went overseas. she presumably knows the feds know that. if she is not thinking she is saying i didn't talk to him. i thought he was going to break up. we know during cell phone collection there were three calls. now i have a problem. i know she's not truthful. once i get truth i can move on like did you have financial issues, did he have ever talk about frustrations. i don't think she knew about the event but she knows about the mind-s mind-set. >> he bought 33 guns in the last year and they live together. >> the layers we have never seen before. so far beyond the number of lives he stole. and that's why we want answers so badly. we'll stay on it. gentlemen, thank you very much. have a good weekend. >>> president trump has many today wondering once again, why did he say that? the president said the calm before the storm after a meeting with military leaders. it comes as officials tell cnn president trump is prepared to decertify the iran nuclear deal next week. joe johns at the white house with more. he has a lot of people scram

>> exactly. >> now, with that in my, will the fed go in december? >> so, i don't know.f the things that we try to do in advising our colleagues is let the data tell me what the marketplace is doing. for us right now, because of the storms that of racked a lot of my district, there is a lot of noise in the data coming out. one of the things i'm going to try to do is to go out into the field, talk to my business contacts across our district, and get a sense of how disruptive it has been. from there, draw conclusion on what i think we should do in terms of monetary policy. >> a year ago, eric said to bloomberg news we will be close to our 2% inflation target by the end of 2017. i am not picking on you, but that is the kind of forecast questions,awn some shall be say, on global wall street. >> right. if you look back to march, we were still expecting 2% inflation. in one of the temporary things that occurred at that time was the wireless pricing change, which had an impact on the current numbers. but we are trying to do was get the underlying trend on prices. there are rela

. >> with that in mind, will the fed go in december? >> i don't know.y to do and i try to do in advising my colleagues, is let the data tell me what the marketplace is doing. for us right now, because the storms have racked a lot of my district, there is a lot of noise in the data coming out and i'm going to try to go into the field and talk to my business contacts across my district and get a sense of how disruptive it has been and from there, draw a conclusion about what i think we should do in terms of monetary policy. ♪ >> a year ago, eric rosengren to bloomberg news said we will be close to our 2% inflation target by the end of 2017. i'm picking on you, but that is the kind of forecast that has drawn some questions on global wall street. >> right. if you look back to march, we were still expecting 2% inflation and one of the temporary things that occurred at that time was wireless pricing change, that actually had a big impact on the current numbers. we are trying to get the underlying trend on prices. there can be relative prices that change a lot