from donald trump rumors started circulating that he might even sack the head of the federal reserve bank jerome powell despite hand-picking him as the chairman a year ago it would require congressional approval to fire mr powell but the news was certainly enough to push down the markets even further and in a bid to reassure investors after one of the worst weeks in a decade the treasury minister made what many are calling emergency phone calls to the head so if the six largest banks we spoke with jeffrey tucker editorial director at the american institute for economic research who thinks in order to avoid a crisis u.s. trade policy among other issues should be significantly changed this is actually a very bearish sign about our economic prospects in the future and that's why people are talking about a coming recession the economy is still strong on paper if you look at the data is strong but the job of the stock market is not to read the existing data which is always about the past the job of the stock market is to anticipate the future that hasn't yet unfolded it hasn't done damage yet but but we're

, madison, which we know president trump he is is not happy about the central bank and federal reserve chairman jerome powellense is it wise for the white house and the president, the sitting president to be dictating central bank policy which is supposed to be independent by the way of the executive branch? >> i think some people are concerned about this, as you're seeing, people support what the president is saying here. robert makes a good point, never good to talk against the usa. democrats say we want the economy to be down. that is food for news election of the as americans we should want things to be up and people doing well in this country. that is something we need to bring attention to whether you're republican, democrat, independent, a trump supporter or not a trump supporter, we want things to go will. that benefits all of juice robin, what do you think? >> most definitely. everybody, nobody wants to suffer in this market. this should not be a partisan thing. we should all want what is best for our economy. democrats have to make the strong case going into 2020, that we have what it takes to prot

like five point six why is this important let's talk to stacy herbert well jerome powell is the chairman of the federal reserve bank of america and he did raise interest rates by twenty five basis points this week despite all the tweets badgering him from donald trump the president of the united states who is telling him he's going to sink the economy of course that is s. and p. five hundred has had the worst basically the worst december since one nine hundred thirty one since the great depression and everybody's quite upset the power put is much further out of the money than it was under previous fed chair's that's what hurt psychology miller table back the investment firm in new york says how will traders possibly survive as the euro heads right getting back to my discussion about the height of chairman so during that time starting with volcker when interest rates the short term rates for the high teens approaching twenty percent when reagan was president they've gone down every single year really culminating in janet yellen now this new fed chairman powell is in place and he's saying that we're going to go back

federal reserve chairman jerome powell will increase rates by accorded point and this would be the fourth increase this year. we know what happens when this happens, this despite donald trump urging central bank to hold steady and avoid rate hikes, the president believes the increases are undercutting efforts to boost the economy, stock market futures are trending toward positive gains as investors await the announcement. donald trump sticking to another promise, advancing our nation's interests in space, the white house ordering the defense department to create a new us space command aimed at consolidating military space operations and defend american assets. >> a new era of american leadership in space has begun. it will develop the space doctrine, tactics, techniques and procedures that will enable war fighters to defend the nation in this new era. shannon: there working to establish a new branch of the military called the space force, by 2020. the vice president making the big announcements as space x prepares for a historic lunch but it never happened, the company postponing their mission until today after a problem with rocket sensors, it is launching an air force satellite into space.

like five point six why is this important let's talk to stacy herbert well jerome powell is the chairman of the federal reserve bank of america and he.

never well jerome powell is the chairman of the federal reserve bank of america and he did raise interest rates by twenty five basis points this week despite all the tweets badgering him from donald trump the president of the united states who is telling him he's going to sink the economy of course the s. and p. five hundred has had the worst. basically the worst december since one nine hundred thirty one since the great depression and everybody's quite upset the power put is much further out of the money than it was under previous fed chair's that's what hurts psychology miller tape back the investment firm in new york says how will traders possibly survive ast zero hedge right getting back to discussion about the hype of fed chairman during that time starting when volcker when interest rates the short term rates were in the high teens approaching twenty percent when reagan was president they've gone down every single year really culminating in janet yellen now this new fed chairman powell is in place and he's saying that we're going to go back to well he describes it as getting rid of t

obviously very angry and trying to pin the decline on the federal reserve chairman jerome powell but most people do not know what the reserve bankn targeting the gains as a symbol of his success and now that it is almost in their market territory people are nervous and looking to trump for answers. the president sees this as the key component of his 2020 pre—election campaign said if the market does not stabilise a rise, he is concerned about what this means the his campaign heading into 2020. we had been talking about the government shut down. how does this play into the political landscape? from economic perspective, shutdowns unfortunately have become kind of red and this one isa have become kind of red and this one is a quarter government shutdown, it is a quarter government shutdown, it is only a part of the government shutdown. this is not happy a huge impact economically but it is another piece of chaos and uncertainty coming out of washington and when you add that one on top, it is like eating that extra christmas cooking after eating five previously. it all adds up. if you we re previously. it all adds up. if you were d

obviously very angry and trying to pin the decline on the federal reserve chairman jerome powell but most people do not know what the central bankat they do know is that the president has been targeting the market gains as a big symbol of his success and now that the market is almost in bare market territory, people are obviously nervous and looking to trump for answers. the president really sees this as the key component of his 2020 re—election campaign so, if the market does not stabilise or rise, he is very concerned about what this means for his campaign heading into 2020. we had been covering earlier on the programme, heather, the government shut down. how does all this play into the political landscape? from an economic perspective, shutdowns unfortunately have become kind of rare in the united states. this one is actually a quarter government shutdown, so it is not a full government shutdown, it is only a part of it. so from a macro—economic perspective, this is not having a huge impact, however, it isjust one more piece of uncertainty, one more piece of chaos coming out of washington and when you add that all on top, it

central bank, the federal reserve, has again raised interest rates, despite repeated appeals by president trump not to do so. they've gone up by .25%, taking them to 2.5%. the bank's chairman, jerome powellcted rates to increase more slowly next year. we'll have much more analysis of that story in asia business report injust under half—an—hour‘s time. korean air has been forced to pay nearly eighteen thousand dollars compensation to a flight attendant who was subjected to abuse in an infamous nut rage incident. -- $18,000. the daughter of the airline's chairman had forced park chang—jin to apologise on his knees after she was served nuts in a bag rather than a bowl. but the compensation was far less than mr park had asked for. flights at britain's second—busiest airport, gatwick, have been halted amid reports of drones being flown over the airfield. two unmanned devices were reportedly spotted near a runway, leading to delays and diversions as flights were suspended. hundreds of passengers have been affected. washington, dc‘s top prosecutor is suing facebook, in the first significant us move to punish the firm for its role in the cambridge analytica scandal. other states and federal inve

bank, the federal reserve, has again raised interest rates, despite repeated appeals by president trump not to do so. they have gone up by 0.25%, taking them to 2.5%. the bank's chairman, jerome powello increase more slowly next year. we will have much more analysis of that story in asia business report injust under half an hour's time. korean air has been forced to pay nearly $18,000 compensation to a flight attendant who was subjected to abuse in an infamous "nut rage" incident. the daughter of the airline's chairman had forced park chang—jin to apologise on his knees after she was served nuts in a bag rather than a bowl. but the compensation was far less than mr park had asked for. all flights in and out of london gatwick, britains second—busiest airport, have been suspended after two drones were seen flying near the runway. the airport has apologised for any inconvenience, but said safety was its foremost priority. washington, dc‘s top prosecutor is suing facebook in the first significant us move to punish the firm for its role in the cambridge analytica scandal. other states and federal investigations are considering similar legal action. this comes as facebook is also accused

banks. this came as trump renewed his attack on the federal reserve and openly criticized its chairman, jerome powellwhom he appointed. on christmas eve, trump tweeted -- "the only problem our economy has is the fed." well, for more, we're joined now by richard wolff, emeritus professor of economics at university of massachusetts, amherst and visiting professor at the new school. he is the founder of democracy at work and hosts a weekly national television anand radio program called "economic update." he's the author of several books, including most recently, "capitalism's crisis deepens: essays on the global econonomic meltdown." richard wolff, welcome to democracy now! so before this coming have the capital gains tax break, the break for the richest americans president trump said he is improving the economy, now the stock market has plummeted back to the depression times. explain. >> we have had an economy that never really escaped the crash of 2008. in a way, the last 10 years have been an economy on life support. vast amount of money pumped into the economy, driving individuals, governments to bo

according to "wall street journal" federal reserve chairman jerome powell is willing to sit down with president trump if he is asked about it, ask central banksions coming 24 hours after white house economic advisor kevin hassett assured us powell's job is safe. now the comments helped the market soar to the greatest point gain ever, would meeting be a good idea? morgan or ortegas is back here. one that the federal reserve a independent entity shouldn't be influenced intimidated by the president of the united states. the other group saying the what the hell there is accountability in our constitution. the reason our constitution is way it is so everyone is accountable. why is this entity formed by bankers so secretive, with all the power in the world to create trillions of dollars out of thin air not being held accountable? >> anytime something happens with the president trump, people acting like first time it ever happened. long history of presidents and fed chairman not getting along. typically done in private. there wasn't twitter around when lyndon johnson decided to get in physical shoving match with the fed chairman, but it did happen.

>>> president trump has reportedly been talking privately about firing federal reserve chairman jerome powell after the central bank raised its key interest rate this week. sources tell bloomberg news that mr. trump was frustrated by the rate hike coupled with months of stock market losses. mr. trump's legal authority to fire powell whom he appointed to the federal reserve is not clear. advisers have urged the president against the move fearing it could stir up more volatility in the markets. >>> hazardous weather in many parts of the nation expected to the slow down holiday travelers through the weekend. rain and snow is forecast from the great lakes to the central appalachians. it is likely from the central rockies to the central plains. the northwest will see snow and rain. winds of about 50 miles per hour actually battered the boston area on friday and holiday travelers needed to pack patience at many of the nation's airports. bad weather forced the cancellation of about 300 flights. >>> the nation's criminal justice system has been overhauled. on friday, president trump signed a sweeping bipartisan bill that g

federal reserve tomorrow. the central bank is widely expected to raise interest rates. what will fed chief jerome powellation and whether it might cause a slowdown? as the stock market was tumbling, president trump said he would release a second round of payments to farmers hurt by tariffs. even after china agreed to buy more soybeans last week from the u.s. china stopped buying u.s. soybeans in july as retaliation. the new order from china will not make up for the business soybean farmers last this year. exports are down 93%. a lot of farmers in iowa. just yesterday, a new cnn poll shows iowa republcans still support the president. 2/3 said they would definitely vote to reelect mr. trump if the election were held today. when i talked to growers and farmers in my home state, they say the russia investigation is white noise. give him time. we need to reset the trade balance agenda in america and they trust him. a lot of them say they trust him. >> 81% with republicans in iowa. >> even as farm values decline. >>> ahead, every parents' worst nightmare. a child run into tnoo -- a chilo the road after a ball

federal reserve has hiked its been marked interest rate by a quarter of a percentage point to a range between two and a quarter to two and a half percent fed chairman jerome powell said the central bank inspected the economy to continue performing well into next year but it projects just to great heights in two thousand and nineteen and had concerns about the trade dispute with china and signs of a slowing global economy higher interest rates tend to weigh on economic growth because they make it more expensive for businesses and consumers to borrow money. in our financial correspondent standing by the new york stock exchange good evening to you yet so if the fed expects the economy to slow down next year why is it increasing interest rates again. well because in general the federal reserve is still saying that the economy is still remain strong even though it's not as strong at fifteen it in the past couple of months we see a strong labor market we see strong consumer spending and therefore this rate increase and obviously the street is not too happy with the decision right now and we know that the u.s. president he has broken with tradition here and he's openly opposed the fed polic

federal reserve chairman jerome powell trying to help insulate central-bank from political a number ofngse transparency and build public trust. president trump criticizing powell and the fed for raising interest rates. meanwhile, congress has been suspicious of the fed's power for years. the world's biggest advertising group plans to cut 20 have hundred jobs, a little under 2% -- 2500 jobs, a little under 2% of its workforce. this news prompting shares of wpp to rise to the highest since april. global news 24 hours a day, on air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. pemmaraju. fallon, u.k.chael conservative member of parliament. from london, this is bloomberg. stay with us, everybody. place, the xfinity xfi gateway. and it's strengthened by xfi pods, which plug in to extend the wifi even farther, past anything that stands in its way. ...well almost anything. leave no room behind with xfi pods. simple. easy. awesome. click or visit a retail store today. francine: this is bloomberg surveillance. i am francine lacqua at west

federal reserve, after markets fell on reports the president discussed firing the central bank chairman. asked about jerome powellump said the fed is raising interest rates too fast but he has confidence the central bank will "get it pretty soon." >> 100%, yes. 100%. >> the number of corporate executives buying shares of their own companies is outpacing sellers by the most in eight years. the number of u.s. company bosses making purchases has doubled in the last two months from the previous two. the partial u.s. government shutdown is heading for a sixth day. the president wants $5 billion for the wall, and democrats have proposed $1.3 billion for border security. nancy pelosi says the house will pass a bill to reopen the government without money for a wall if the shutdown lasts beyond january 3. england plans to double its charge on disposable plastic bags to 10 pence as part of a drive to protect the government. the fee will be extended for the first time from large retailers to all shops. the government says the current charge introduced in 2015 has cut annual usage in england from 140,09 global news 24 hours

us central bank has raised interest rates this evening, but has signalled that it will go slow on additional increases as it watches the economy. the federal reserve chairman, jerome powellticised the central bank repeatedly on twitter for even considering anothe raise. the time is 11:17pm. the headlines on bbc news: labour leaderjeremy corbyn denies calling theresa may a stupid woman during prime minister‘s questions. the european commission says it‘s started to implement its preparations for a no—deal brexit. all flights to and from gatwick airport have been suspended after reports of two drones flying over the airfield. and, don‘t forget, we‘ll be taking an in—depth look at the papers with our reviewers, the broadcaster, david davies, and kate andrews from the institute of economic affairs. that‘s coming up just after the headlines at 11:30pm. an inquest into the death of a russian whistle—blower in surrey six years ago has concluded that he died of natural causes. alexander perepilichnyy, a wealthy businessman, had been handing over sensitive documents allegedly implicating russian officials in moscow in a huge fraud and money laundering operation. activists said the

us central bank has raised interest rates this evening, but has signalled that it will go slow on additional increases as it watches the economy. the federal reserve chairman, jerome powellurth increase this year by the federal reserve and was widely expected. however, it's expected to anger president trump, who had criticised the central bank repeatedly on twitter for even considering another raise. the uk rate of inflation rate fell slight last month to 2.3%. big falls in petrol prices have mainly driven the 0.1% drop on the previous month. the office of national statistics says recreational goods and services, video games, toys and hobbies all helped towards the drop. it appears it doesn't pay to be loyal. it turns out that millions of people who stay with companies for insurance and mobile phones for years are actually losing out by around £900 a year. that's the verdict of the competition watchdog the cma, as our personal finance correspondent simon gompertz reports. the loyalty penalty can grind off your hard—earned cash without you noticing. nick near doncaster found he was paying more than £1000 a year more than he needed to for house insurance. we were paying £1

federal reserve made the announcement that it has hiked its benchmark interest rate by a quarter of a percentage point to a range between 2.25% and 2.5%. u.s. fed chairman jerome powell said the central bankxpected the economy to continue performing well next year, but it projects just two rate hikes in 2019 amid concerns about the trade dispute with china and signs of slowing gbal trade and economic growth. higher interest rates tend to weigh on economic growth because they make it more expensive for businesses and consumers to borrow money. so for more, let's cross over to our man on wall street, jens korte. jens, the fed expects growth to slow somewhat at least, to moderate. why does it still raise rates? jens: yeah, it is not that there are no growth concerns around at all, but so far the federal reserve still projects economic growth of about 2.3%. that is a bit less than the originally expected 2.5%, but that is still pretty solid. jerome powell pointed out that we saw this year the best economic growth since the financial crisis, and we are in the midst, or at least right in the longest expansion phaases that the u.s. economy has seen in history, and therefore the federal reserve h

treasury secretary steve mnuchin's questions about banks' health, and signs the president could be about to fire federal reserve chairman jerome powellthe dow jones down 653 points on monday. but assurances from the white house that the fed chair's job is safe helped send stocks higher wednesday. the dow's 1,000-point plus rebound not the only bright spot. the s&p 500 and the nasdaq also. rising 113 and 352 points respectively. the energy sector helped fuel those gains. crude oil prices rose and shares of exxon and chevron both increased. investors also received some good news from the retail sector. sales increased just over 5% this year, marking the best holiday shopping season in six years. amazon's stock jumped 7% after the company announced it had more items ordered worldwide than ever before. many expect the volatility on wall street could continue. >> interest rates are rising. you have the uncertainty over trade with china and then there is a global slowdown in the economy. >> reporter: and despite wednesday's rally, the s&p 500 still risks entering a bear market, which would end the longest run of a bull market. dave packer,

federal reserve the central bank here in the united states are taking to sort of weaned the markets off of supports that were put in place after the recession on wednesday the fed chairman jerome powell raised interest rates a quarter point and signaled that the fed would slow down its rate of raising rates into two thousand and nineteen but even that was a concern for investors who are really worried about a softening khana me globally and what impact that could have investors are also watching the bond market right now and stocks are uncertain and people tend to power money into the bonds but the ten year yield bond rate has been coming down and it's fast approaching the yield on two year treasury bonds and that's seen as another sign of inflation if it gets to the point what they call an inverted curve . that's a sign of a recession coming historically so all of this is weighing on investors' mind even as the economy here is fundamentally strong there is worry that things will move forward so we're hearing from the president's advisers economic advisers they've been kind of going out and speaking to various media outlets attempting to calm concerns about the economy and about the

is largest banks in addition various assurances from members of the administration to donald trump has no intention to fire the federal reserve chairman jerome powell also didn't calm people because it suggested that it's still on the agenda it's not something that donald trump may be considering this has not done much to help investors worries as we go into christmas the head of a u.n. mission tasked with monitoring the fragile cease fire in yemen has arrived in the port city of who data were side does general patrick come in government representatives in the southern city of eight before talks with who the leaders in the capital sanaa over there we can't the cease fire and who data is largely holdings since it came into effect last tuesday there has been sporadic fighting between both sides yemen's warring parties agreed on troops in the strategic city during peace talks in sweden earlier this month that though has been covering the conflict in yemen extensively a little earlier he joins us here in the studio. basically they would act as the eyes and ears of the united nations and the rest of the international community because international pres

. >>> president trump criticizing jerome powell and the federal reserve for raising interest rates just days before the central bankat, quote, it's incredible the fed is considering hiking rates when there's no inflation and the outside world is blowing up. end quote. >>> a powerful bomb exploding outside a private greek tv station in athens causing extensive damage but no injuries the blast occurred in the early morning hours after telephone warnings prompted authorities to evacuate the building. no one has claimed responsibility >>> the israeli military partially demolishing the home of a palestinian accused of killing two israelis in a west bank attack two months ago protesters arrived at the military carried out its work and clashes between the two sides erupted shortly thereafter >>> and here at home, goolg gles spending $1 billion to expand operations in new york city, creating a new campus along the hudson river that will allow it to double the 7,000 employees that already work in the city. the campus will exceed 1.7 million square feet. it should be completed by 2020 which mean there is will be more traffic

the federal reserve the central bank here in the united states are taking to sort of win the markets off of supports that were put in place after the recession on wednesday the fed chairman jerome powell raised interest rates a quarter point and signaled that the fed would slow down its rate of raising rates into two thousand and nineteen. but even that was a concern for investors who are really worried about a softening khana me globally and what impact that could have investors are also watching the bond market right now and stocks are uncertain and people tend to power money into the bonds but the ten year you.

are trying to understand what the federal reserve will do next and what the call between mnuchin with the ceo banks mean. >> and discussing the future of jerome powellans and firing him. >> thank you so much seema. >> that does it for me. can you do it? you will be solo. >> it is not going to be the same. >> defense secretary james mattis out of office before his planned departure date. the market is opening a little bit more than half an hour, we'll be watching that and bring it to you live as well. ♪ -we have the power -to make a difference, right now. we have the power to make sure everyone has clean water. to provide access to education for all. -to rid the world of aids, -once and for all. we have the power. to choose to include. to create clean energy. to raise capital. and be fearless entrepreneurs. to understand different perspectives. we stand behind all our partners working to make a difference. what would you like the power to do? wei but i can tell you ipartners liberty mutual customizedrence. my car insurance so i only pay for what i need. oh no, no, no, no, no, no, no... only pay for what you need. ♪ liberty. liberty. liberty. liberty.

federal reserve, president trump renewing criticism of the central bank amid worries over the economy hillary vaughn with the very latest. good morning. reporter: president trump might meet face-to-face with sfrr chairman jerome powelldlow suggests a face-to-face meet between two might smooth tensions between president and federal reserve over rate hikes. >> raising, too fast they think the economy is so good, but i think that -- they will get it pretty soon. i really do, the fact is that the economy is doing so well that they raised interest rates and that is a former -- president obama didn't do much of that. >> meeting between the president and the fed chair wouldn't be unprecedented, .george bush met with dhen fedchair alan greenspan president obama met with ben bernanke and janet yellen. >> treasury secretary mnuchin rorlgs looked into a private meeting between two after the new year had mnuchin's back saying he does have confidence in the treasurer sack secretary after reports the president is growing frustrated with treasury secretary could be in general after market suffered one of his christmas eve trading day in history yesterday, shifted blame to fed saying only problem the economy has right now is the fe