federal reserve to print six hundred billion dollars uniquely only for their member banks in that it was a let them eat cake moment here they were saying yes we brilliant economist at the federal reserve bank no history we know what happened before the french revolution we know what happens when you just throw theone brioche to the people and cause massive wealth and income gaps now like i say about quantitative easing it's all zeros and no ones there's no code it's just zeros it's just more nothing zeros as far as i can see it's nothing there right at least with zeroes and ones as code there's a finite end to it it's an algorithm it's a routine it repeats that it's not infinite we started thinking about things like in argentina when they went to hyperinflation how the price of milk which changed multiple times a day we saw what recently happened in venezuela when they instituted socialism and what happens is hyperinflation there. and understand the geo political landscape of the world to start saying oh wait so if the u.s. dollar is no longer backed by gold then it's possibly backed

avoid day to day interventions in the money markets, and it's compatible with large reserve holdings by banks at the federal reserve. something that banks now want to satisfy new liquidity requirements. from a financial stability standpoint, this regime is also much safer. when the fomc ceases balance sheet runoff in october, the fed's asset holdings will have declined to around $3.7 trillion, and the process will have run its course. balance sheet runoff had the potential to provoke considerable financial market disruption. indeed, the difficulty of exiting from asset purchases had been a concern in the committee and in congress, with some observers anticipating that a rundown of the fed balance sheet would spark financial bedlam. but fortunately things have gone quite smoothly. my hope was that it would be about as interesting as watching paint dry. and it has mainly worked out that way. a smooth exit means that there should be less resistance in the future to deploying asset purchases again. looking forward, one of the most important concerns now facing the fed is how monetary policy can respond to a fut

second point, specifically, herman ca n for many years was on the board of the kansas city federal reserve bank >> brennan: in more of a civic role. and sairnlgt allegations derailed his presidential campaign. >> he was chairman of the kansas city fed. he is there for intimately acquainted with fed operations and awant to make this generic point, people say this is political. i don't think it's political. there may be a boll si difference. we believe, the president believes, you can have low unemployment and a strong economy as we are having. the numbers came out great on friday, without inflation, without inflation. >> brennan: is he going the pass as background check? >> look, he's being vettedÑnp @. he'll be going through the hearings in the senate banking committee. i'm not hear to comment or litigate any of that. there are allegations out there, but there are lots of allegations in washington that don't pan out. >> brennan: they derailed his presidential bid. >> my principle bid is he is qualified. he was the chairman of the kansas city fed. he knows a lot about the

federal reserve. i later returned to berkeley to teach but was kept in 2004 for different rural to serve as the president of federal reserve of san francisco one of the 12 regional reserve banks that are part of the federal reserve system. the assignment placed me right in the midst of the housing boom and bust that precipitated the worst financial crisis in the united states since the great depression. i worked with chair bernanke he and other leaders. to craft monetary policies that would promote economic recovery. in 2010 i moved from san francisco to washington to serve as vice chair of the federal reserve's board of governors. in that capacity i continued to work on monetary policy in on crafting financial regulation designed to prevent future financial catastrophe. president obama nominated me in 2014 to serve as chair succeeding finish for nagy where i continued his work. this evening i would like to share some reflections on the issues i focused on during my time as state chair. i will outline my priorities, describe what i see as accomplishments and setbacks and discussed challenges the fed faces now and in the years ahe ahead. of course i know you may have questions

wages or be you increase the price of fine art being sold at sotheby's that's the question the federal reserve bank and all central banks around the world choose to be.

wages or be you increase the price of fine art being sold at sotheby's that's the question the federal reserve bank and all central banks around the world choose b. they want to stimulate the economy by jacking up the price of fine art and other collectibles and other assets that are held by an extraordinarily small portion of the world's population who haven't worked in generations they're wrong.

we're talking about the board of governors, not a federal reserve bank president i came out of the market side. i'm not a ph.d. in economics i was running a bank the federal reserve bank of dallas and participating in policy discussions the board of governors is a very serious matter they get a permanent vote. they usually very well trained either in economic theory or in financial practice, like the current chairman is, jay powell. and as the vice chairman for regulations supervision has been exposed to through his legal practice this is serious stuff. and it represents a threat to the independence of the most important central bank of the world. i think the markets would really go into a frenzy, and our allies, other central banks go into a frenzy if he succeeds with moore and cain. >> how much of this is trying to protect against a down turn in the economy heading into the election you said earlier this is very short sighted. this seems to be longer sighted. they say the economy is really good now i could show you a whole list of times where the president has said the economy is the be

wages or be you increase the price of fine art being sold at sotheby's that's the question the federal reserve bank and all central banks around the world choose b. they want to stimulate the economy by jacking up the price of fine art and other collectibles and other assets that are held by an extraordinarily small portion of the world's population who haven't worked in generations their raunchy days they are the nail futile class they are the club talkers say but the fed in the central banks around the world don't seem to understand either the economy works or b. that if they keep kowtow ing to a very small group of larcenous pts they're going to get torched. well part of the issue is that governments themselves have abdicated any responsibility or concern for their populations and they've basically delegated. authority over the economy to the central bank and the central bank can only implement monetary policy and monetary policy can only be executed through their member banks so that's why all the very wealthy continue to get very wealthy or the central bank can't send money to the ordinary per

the federal reserve bank of minneapolis president neel kashkari got what he wanted haas week, no planseases in 2019. despite that victory, he's taking an issue with how the federal reserve came to the decision. he said that the he has serious beefs with how the fed is assessing the economy, having an important conference next week, an event in minneapolis to talk about it. neel kashkari will be a voting member of the federal reserve next year, and he joins me right now to explain. it's good to see you. thank you so much for joining us. i want to get into what you'd like to see happen next week, but first, the big news of the week was that yield inversion. short-term rates higher than long-term rates. and a lot of people worry that that is an indicator that a recession is at hand. how to do you see it? >> well, it's the best indicator we have of all the data that we look at historically in predicting recessions. so it's something that i'm certainly paying a lot of attention to, i think my colleagues are. at a minimum, the bond market is signaling slower economic growth for the next few

banks were doing. . .he . in 2008, the fed did this major pivot, the federal reserve, the main central bank of the u.s. did a major pivot and said well, thanks don't trust each other right now. it just, number one. a number two, they don't trust each other let alone you compelled to give money to like a small businesses or to individuals at the rates we are only going to give them, which is zero. but into the crisis we will come in and help them and we will create or fabricate money electronically in order to provide them with credit because we can, but what happened was they didn't just do it a little bit. they took the situation the federal reserve in conjunction with the treasury department and the bankers at the time and they took something that was considered a to b. an emergency by what was going on in the fall of 20081 there was basically a complete crisis of confidence in the banking system inside it and externally related to it and they said we are going to dump tons of money into the system to make it right. here could give banks loans and low rates so they can basically get money from uss at

these are banks that trade on stock exchanges, monitor supposed by the federal reserve because one of their day jobs is to be the regulatory sort of answer, the oversight body to these banks. they are monitored and yet their individuals of such a tight relationship with the central political powers of the country that they're able to get money effectively to themselves when they needed. and far greater figures that individuals are able to galvanize to do that. as a result money goes from taxpayers to benefit them. not just when there's a crisis but even from the standpoint of, for example, illegal act called the class to go act which was repealed in 1999. it'd been in place since 1933 specifically to protect the depositors and the taxpaying public and voters from any kind of weird esoteric parts of speculation the banks today. thanks could choose to bet all sorts of stuff but if they lost those bets it was on them, it's on their shareholders who is on the private partners however they were structured to repay. it was on the government, it wasn't on people. that was repealed in 1999. y

you believe, as the federal reserve bank of san francisco wrote recently, that climate change is a serious risk to the financial system, not to mention the planet? again?d you ask then >> do you believe climate change is a serious risk to the financial system, not only the planet? >> yes. the financialy to system, but i think climate change is real and we should be taking action immediately to do something about it. most of it will have to be legislation. >> if we don't have a planet, we will not have a good very -- a very good financial system. >> i agree with my colleagues. i agree. at bank of america, we take action on. >> i agree. >> i agree, there are knock on effects to the financial system. >> would you be willing to restrict or limit or change what your bank finances, if you are found that it is making the climate worsen our country, world? would you change some of your behavior? >> i believe we have already started that. >> we have already started that. in the meantime, the united states does need energy to eat, thrive, get here, heat, ventilate hospitals. there is a smart way to

not in job we have an account in the federal reserve bank in new york and in the us yes. this is yes definitely i'm not saying that there is no corruption corruption everywhere in the world but the most important thing is how you deal with it mr get go your background is from a criminal justice perspective you are in a position where your country can greatly benefit from the proper functioning of your ministry what do you bring in to dismiss are you personally satisfied of sitting in that chair for three years in achieving what you have i'm very proud of what i have done. under the presidents died ins and leadership president salva kiir . i'm also very proud that the colleagues that have been working in the government and also in the ministry of petroleum they are doing very well and very happy that also we have a neighbor sudan and that is called pretty with us very well president bashir. managed to sit together with his colleagues president of uganda president of kenya president with the prime minister we thought here they work together and they brought peace to the peo

saying, if you think about bank of america and say one of the large banks in chicago, there would be two separate groups of federal reserves regulators and the largest one sitting in the bank but they wouldn't necessarily have to communicate with one another. similarly there were different members of the office of the comptroller and currency. but they wouldn't have to interact with one another. so you have a fractured regulatory system in underestimation of the risk inherited subprime banking than the repo system. >> we don't have enough time for that. >> okay. >> i tell you a story about j.p. morgan will case in the fracture and maybe i will the end, we come back, dick, you have a whole history of economic growth in banking and financial sector innovation, do you have any sense, to me it was market forces that were pushing the banking system to consolidate and it was political forces that were keeping them from happening and all the legislation along the way is a grand bargain for different coalitions to get the most or control their condition along the way. to me in the market forces are pushing where we ended up in the

main people the decided it would be necessary for there to be central-bank in the united states like we have now the federal reservet would say banks in a situation where the government could not step in and help those banks so when there was an unstable. like the panic other than j.p. morgan counting on the treasury department which he had furnished money to in decades before that there would be other central entity that would do that. those behind the scenes and started to work with congress to create what became the federal reserve bank but it was not noted for that in history. >> jekyll island, 1913, is that a noble effort? >> guest: jekyll island started 1910 and basically was the country club for all that rich people in the united states at the time. they effectively -- is the time to research down there and now it's a resort hotel off the coast of georgia but at the time all these major families, morgans, rockefellers would have condos there but were not any condos but just really nice and service service come down with them and did it to the waterways and rest of the people and they were going down to thing

, the 13 federal reserve banks.is a need and that is why those people are on the board of the regional fed. but at the board of governors when you're talking about and interpreting all of the economic signals, this is very technical work. i think that's an important thing. another interesting thing i do not know the people have pointed e are atn and moor opposite ins of the spectrum. herman cain is the gold bug, we have to go back to the gold standard. cuthen moore is, we have to . they are really opposite people in terms of ideology. it's interesting -- want tou probably do buy gold. it is cause and effect. help us wrap this up when you take into effect the goldilocks world. what is your favorite trade? where do you still find value in the bond market? >> it's a struggle, to be honest. paying to 50, people very much and carry trades. from our perspective, we think the u.s. economy is potentially going through recession next year and if that scenario plays down, and we see a meaningful slowdown in growth and inflati

federal reserve board of governors. kaine is the founder of the godfather's pizza chain. he is also former chairman of the kansas city federal reserve bank. stocks were mixed today. the dow gained 166.5 to close at high for the year. the s&p 500 was up 6. the nasdaq dropped 4. there are reports tonight that some members of the special counsel team investigating alleged russian collusion during the 2016 election may feel that the attorney general is not adequately portraying the results of that investigation. and the report the administration is pushing back hard on anonymously sourced stories. this comes as republican lawmakers are looking into the ethics of the investigation itself. chief intelligence correspondent catherine herridge has details tonight. >> the justice department issued a rare public statement taking issue with media accounts that the mueller report contained summaries that were releasable. quote, every page of the confidential report provided to attorney general barr on march 22nd, 2019, was marked may contain material protected under a law that protects confidential grand jury information and, therefore, could not be

one thing about that but i also want to turn back to that big coin and the reaction to the federal reserve bank and their minutes because another part of that tying to china is a tweet from joseph young c m e big queen futures recorded five hundred forty six million dollars in volume on april fourth and most of it came from asia according to bloomberg with china seeing a strong o.t.c. bitcoin buys as reported by c.n.n. ledger it seems like the overall interest in crypto in asia is rising fairly rapidly right when gold is unavailable to buy and it's hard to buy gold you know if you're sovereign like china they have difficulty buying the hundreds of tons of gold they would love to buy it's just hard to come by it's very scarce they will very quickly figure out you know what bitcoin is the equivalent to gold and we should start adding big coin to our strategic reserves along with gold and russia will come to the same conclusion i don't know which of these two countries china russian will decide to add bitcoin to their strategic reserves along with gold first i would tend to think would be russia f

the san francisco chronicle obtained the results of a study from the empowerment and federal reserve banksco. it shows the student loan debt in the bay area reached nearly 27 billion last year. the study finds borrowers are having more trouble making loan payment, especially in lowing in neighborhoods. >>> if blank 182 or superman is your password, come in something /* -- something new. they analyzed pass words belonging to accounts world wide that have been breached. here are the top five. the first one you knew, 123456. followed by the 12345,. qwerty is number three, the word password is number four, a series of 1s comes n. by the way, ashley and michael are the most common names followed by daniel, jessica, and charlie. >> sorry, reggie. >> what does that mean for your names? >> michael is not an unusual name. >> i know reggie's password is i love jessica. >> yours is my get away from >> it's interesting ones. >> it is. >> most people say i love joshia or jessica. >> they d'tet pass words. >> so we use our own names. ve to sit next to us for the next hour-and-a-half. >> i'm sorry, forg

the federal reserve bank estimating higher growth at 2.8%, the trump administration continues to believe the economy will grow at a 3% pace despite warnings of slow growth. spending was slow at the start of the first quarter thanks in part to delayed tax refunds by the irs and the government shut down. and boeing makes an important contribution to gdp. it sells more than half of its products internationally boosting trade. analysts say if boeing were forced to halt production, it could reduce gdp. for now, the impact is minimal because production continues. >> the shut down affected the economy more than predicted. >>> how does free, one day shipping sound. amazon is spending $800 million to make it standard for prime customers. the company changed the game when it introduced free two-day shipping a decade ago. amazon is not saying when the one-day option becomes regular. it will expand the types of products consumers are willing to order online. >> always the concern, once they get you in prime, they start to raise those prices. >> it will go from everything to everything plus. >> globa

echoing her later in the day, the president of the federal reserve bank of philadelphia also thinks maybeh gets a little stronger and maybe they do hike rates a little bit more. let's listen to what he said earlier. >> i continue to be in a wait-and-see mode. my outlook for vaped remains at most one hike for this year, 2019, and at most, one for 2020. kathleen: i don't think it makes much difference if the fed is completely done with rate hikes this year or raises one more time. that could change if the economy is a lot weaker or stronger. the february jobs report was a shocker, just 20,000 new jobs added to the economy. how is the much expectation looking? kathleen: certainly a lot better than that. a lot of people think that was fluky, with the government shutdown in cold weather. as you can see, these blue bars, that's payrolls gains, we have had that 310,000 gain in february, only 20,000 in february. march is supposed to get back up to 77,000. you would not worry about a number like that in this ballpark. you can see they have finally been moving higher in this tight labor market. in

the federal reserve bank of atlanta estimating 2 pn.8% grow forecast an average of 1.9%.aker than expected report could drive wall street and other assets lower. the president made big promises of three, four, even 5% growth but many economists think economic growth may have peaked for now. the sugar high is fading and global growth slowing. the economy expected to grow at a slower speed in 2019, and last year's 2.6%. >>> state countdepartment says countries importing iranian oil could face sanctions starting next month. "the washington post" reporting sanctions waivers could not longer with ordered. secretary of state mike pompeo is expected to make that announcement this morning. the state department issued 180 day waivers last november to china, india, japan, south korea, taiwan, turkey, italy, and greece. the idea was to give them time to find alternative oil sources. u.s. officials now say the goal of the new policy is to drive up the cost of iran's maligned behavior and address the regime's threats. >>> the defense department identifying two u.s. service members kil

media star herman cain and stephen moore for these powerful posts who run america's central bank, the federal reservethe united states. we are talking about the entity that at least on a good day is supposed to handle inflation, unemployment, bank regulation, wall managing risk and emergencies that can hit the united states and international markets at any given time. steven moore advised cain's campaign. he helped trump on his tax plan. and if you remember obama's treasury secretary nominee getting grilled over his tax problems, it's also worth noting that mr. moore owes $75,000 in back taxes and penalties. some see him as an odd choice for the fed because he has questioned whether it's, quote, even should exist and called at one point for all its members to be tossed. >> i believe the people on the federal reserve board should be thrown out for economic malpractice. donald trump wanted to drain the swamp. well, john, the fed is a swamp. >> he picked one of the alligator. >> exactly. >> exactly. the fed is the swamp, or whatever. with the promotion now on the table we can note, because we want to up

federal reserve. cain who grew to national fame for his 999 tax reform plan comes with years of experience as the former ceo of godfather pizza chain and a former chairman of the federal reserve bankity. trump also nominated his former economic advisers stephen moore. the move sparked criticism that moore would act as a trump loyalist on the board. trump has also been openly critical of the fed and its chairman jerome powell forr rat needed to cool off a hot economy while trump wants lower rates to drive the stock market and the higher economy. so with me now from boston is ken roguoff, the former chief economist at the international monetary fund and is a professor of economics and public policy at harvard. good to see you. >> thank you. >> in the past, you've described the fed's independence as fragile. do you think these appointments, you know, add to that kind of fragility? >> a little bit, i mean, he appointed jerome powell as chair. richard claire at his vice chair, all very good people acting pretty independently, so there are 12 voting members of the open market committee, adding two who are much more partisan, but i think this is more barking rather than fundamentally cha

federal reserve world. cain, we should say, was a chairman of the federal reserve bank in kansas city.man, of course, trump wants overseeing the banking system of the wealthiest nation on everything. >> but the 9, 9, 9 plan is catching on with people. >> 9, 9, 9. >> 9, 9, 9. >> i'm ready for the gotcha questions. >> so you agreed with president obama on libya or not? >> okay, libya. >> oh, shucky-ducky, as the man would say. >> president obama supported the uprising, correct? >> oh, shucky-ducky. >> and when they ask me who is the president of u becky becky becky stan stan, i'm going to say, you know, i don't know, do you know? >> that's what i'm talking about. >> you don't need foreign policy experience to know who your friends are and your enemies are. >> immigration is four problems, not one. >> i believe these words came from the pokemon movie. >> america's never seen a candidate like herman cain. we need you to get involved because together we can do this. we can take this country back. i am america one voice, united we stand i am america one vote to heal our land >> the cain 2012

and the federal reserve bank of new york among many others that basically show college is no tuitionered via these loans, they can check up the prices. and also just makes perfect sense but i think bill makes a point and the message should be to voters about basically why should americans be subsidizing other people's choices, particularly if you didn't go to college yourself or fallen on hard times why should you pay for someone else to go to college? >> jessica: that is why there are a number of proposals. they are not one-size-fits-all but the argument against them -- >> harris: why not try it too like my dad who served from a target to something that is part of the makeup of this country? >> jessica: some people will argue that is taking it backwards but if things worked n great ideas can't we take them forward? >> jason: but elizabeth warren and others more free, more expenditures, spending a trillion plus dollars -- >> harris: but that makes it better? >> jessica: moral economic argument i was talking about, that they are making the rights to have rights and an education. we've

cain joined the board of directors for the federal reserve bank of kansas city in 1992 serving as the95 to 1996. during the 2012 presidential campaign cain faced sexual harassment allegations that caused him to end his bid. he denied the allegations but resulted in settlements. cain's nomination follow plans to nominate stephen moore to the federal reserve board. moore's nomination has been clouded by revelations of current tax lien and child support allegations. >> the administration granted waivers to 6% of the applicants during the ban. the trump administration has argued that the waivers are proof that the policy was not aimless but needed to protect national security. in its june 2018 ruling upholding one of the administration's revised versions of the ban the supreme court cited the waiver program to support the government's stance that it served a legitimate national security interest. in a entertainment to reuters democratic senator chris van hollen says this data paints a clear and deeply disturbing picture of the trump travel ban. the administration repeatedly swore to the s

this news comes as president trump is criticizing the leadership of the federal reserve bank and facingartisan controversy over two picks to join the alleged boards, over each man's ethical overlaps. joining me, larry kudlow. glad your health has rebounded. >> thank you, jake. >> the jobs report wasn't all rosy. the manufacturing sector lost around 6,000 jobs after slowing down in february. the president made bringing back manufacturing jobs a key part of his message. the trade wars and tariffs are negatively impacting american manufacturing. is the president hurting manufacturing jobs? >> no, i don't think he is. i think lower tax rates, roll back regulation, opening up energy, i think trade reform -- particularly, jake, the u.s.nca deal, i think we've done well. the numbers that came out friday with revisions, 211,000, that's a very strong number. good wage increases, we're still over 3%. productivity is rising by nearly 2%. again, i come back to the president's basic policies to rebuild the economy, lower tax rates, big rollback in regulation, opening up the energy sector. >> they're

news update this hour, don, back to you >> thank you very much, sue herera >>> the regional federal reserve bankseleasing the 2019 small business credit survey kate kelly joibi kate rogers, what's it say about the business environment >> the banks just released the small business credit survey an annual report that focuses on small businesses with under 500 full and part-time employees on their payroll. the report finds year over year demand for new financing remained consistent. 43% of companies apply for new capital last year. that's up slightly from 40% in 2017 nearly half received the full amount of funding that they sought some two-thirds though said they experienced financial challenges including difficulty of managing operating expenses, scarcity of credit and challenging repaying their debt two-thirds of these firms also relied on personal finances to covered costs while 40% took on additional debt. also interesting here, nearly one-third of small businesses applied to online lenders, expecting they'd make faster funding decisions, more likely to approve funding and would not require coll

congress demanding answers on everything from federal reserve policy to megamergers in the banking sectorhe federal reserve chair and banking's biggest players to the hill for hearings. but with a split congress, is it all show and no substance, or sizzle and steak? raymond james ceo paul reilly here to tell us how his industry is holding up as the 2020 rhetoric begins to ramp up. it's a fox business exclusive, next on "countdown." i knew about the tremors. but when i started seeing things, i didn't know what was happening... so i kept it in. he started believing things that weren't true. i knew something was wrong... but i didn't say a word. during the course of their disease around 50% of people with parkinson's may experience hallucinations or delusions. but now, doctors are prescribing nuplazid. the only fda approved medicine... proven to significantly reduce hallucinations and delusions related to parkinson's. don't take nuplazid if you are allergic to its ingredients. nuplazid can increase the risk of death in elderly people with dementia-related psychosis and is not for treating sy

the world. >> was he not on, because his supporters would point to -- he was director of the federal reserve bankyou say -- >> so those jobs are honorary advisory board that go to local bankers or business people. >> honorary. >> the most important job is choosing a fed president -- a regional fed president which is an important job but he was not involved in that process because of the terms of his tenure. my real concerns are about his policy positions including fact he wants to bring back the gold standard which basically every actual economic expert shoots down. pretty much unanimously. there is survey data of economists on that. beyond that, his famous 999 plan relied on magic math and taxes -- >> 999 -- >> and after he ran for president he was banning followers who signed up for his email list with one weird trick to get rich quick and to cure their erectile dysfunction naturally. so a fair amount of online scams and one of the feds jobs is bank supervision which includes protecting -- enforcing consumer protection laws so there are reasons to be concerned about what he has said and done. a

and in that regard, you have little movement from the federal reserve banks around the world to push in that regard, you have flat rate and structurally tradition growth --trinity trendy growth. you see less of a differentiated , and more about individual companies and what are they doing. and you have to think about that as an active where can we see opportunity? it could be value or growth, but it is not about by because it is cyclical or its value. by because it is a good business in the the what is improving or consistently growing. that is how investors should be focused. matt: we appreciate your time on bloomberg television. chief investment officer of concentrated global growth alliancebernstein. the name of his position should tell you something about what he is doing. and mark will be joining us on the radio to carry on the conversation. so tune in their if you are in the city. you can too in on sirius xm if you are in the u.s.. europe's car sector sputters, declining for a seventh consecutive month. we take a look at the flight of the auto industry in europe and in china. t

in the 190s he served as a director of the federal reserve bank. >> welcome to primetime. big night. team bar fires back at team mueller. now there's a new demand to find out what the heck is going on here. when will we get to see the facts. why is the president backing off his threat to close the border. good move but he said he wasn't playing games. a primetime first. kirstin from our border. also here, the newest 2020 player fresh off his announceme announcement, democrat number 17, on your mark, let's get after it. >> so here's the suggestion. if the special counsel prepared summaries of his findings, why did the president's attorney general choose to craft his own. especially one that may have grossly down played what was found. this lies at the heart of the latest front in the fight for truth. and the head of the house judiciary committee is determined to get the truth. knew insisti now insisting they clear up the discrepancies and then release the full report to congress so it can assess and decide what to redakt on its own. sound fair? certainly debatable so let's

let's get back to house financial services >> according to the federal reserve bank of new york, community banks and community development financial institutions achieved net lender satisfaction scores of 73% and 76% respectively, which measures the overall experience of small businesses have with their lenders. that compares with only 49% satisfaction rate for large banks. reasons for this discrepancy include unfavorable repayment terms, higher interest rates, and issues related to consumer complaints while you have modestly been increasing your small business lending, last year, your banks accounted for only 25% of all loans to small businesses, which frankly, is not good enough. as drivers of our economy, we must promote small businesses and any impediments in access to credit can undermine the business leading to job loss mr. moynihan, cfpb has not collected small business lending data that is supposed to -- that it's supposed to do under section 1071 of dodd-frank, unlike the mortgage market, we have far less information about what is happening in the small business space, including p

he actually has been at a federal reserve bank. he understands the issues. is around the independence of the federal reserve. do we want the president to say, hey, fed, you gotta juice the economy a little bit. that's the challenge. >> and presidents have been frustrated with the fed forever. it's hardly new for a president to be frustrated. they don't generally respond in this fashion. >> well, the combination of the potential nomination of stephen moore and herman cain. lanhee would have freshman students in an economics class more qualified to be in those positions. >>> up next, the unlikely 2020 candidate who is earning his way to the debate stage with one big idea. andrew yang is here live. idea. andrew yang is here live. you know what's better than mopping? anything! at the end of a long day, it's the last thing i want to do. well i switched to swiffer wet jet and its awesome. it's an all-in-one so it's ready to go when i am. the cleaning solution actually breaks down dirt and grime. and the pad absorbs it deep inside. so, it prevents streaks and haze

in the 190s he served as a director of the federal reserve bank. >> welcome to primetime.tinues as team bar fires back at team mueller. now there's a new demand to find out what the heck is going on here. almost two weeks in. we have more questions than answers. when will we get to see the facts. why is the president backing off his threat to close the border. good move but he said he wasn't playing games. was it game? we have the perfect guest to tell you the priority on the border. a "prime time" first. kirstin from our border.