worked as the unofficial capacity while he was president he called me and asked me to be in the federal reserve boardi never thought of that before you don't say no to the presidents of than i had to say what does the federal reserve governor does it wasn't sure of the responsibilities of all of the governors but as soon as i was nominated all of a sudden, i did not even know at the time that i would have to go through senate confirmation. my advice is if you have to go through senate confirmation, say no. you are put under theit microscope. literally the reporters were calling did he ever mistreat you and i am no saint i have skeletons in my closet and they found a lot of them so but just one quick story is i call the president a few times and said this is not going well. i don't want to embarrass you i think i should step aside he said no. keep going. you are a boxer and you're being told get back in the ring and then finally it became clear we finally withdrew but it was a painful experience because every day what did i say in 1987 so it was an experience. i said that about the confirmation if you

but that thing going on is the federal reserve board is buying. that is interesting is in it. e arm of the government ison spending the money. where does the federal reserve where did they get the money to buy the bonds? they printed. they printed. that's nationalizing your debt. the psychologist described countries like ours see that in venezuela, and zimbabwehe do. i don't have my wallet right now. but be rich a trillion dollars. that makes me nervous and incidentally there's one other step in this chain. when the federal government is buying all of the debt, it is issuing more money. it is printing more money. what happens to the value of the dollar when the fed prints all that money? it goes down. spending way too much money for. >> from your book "govzilla" we have borrowed coins of dollars in. deacon chinese continue to buy bonds. the chinese own a great state and our government? here the bank 5000 does you are in trouble but if you owe the bank $5 million the bank is in trouble. there is to say about the american dollar is the least rotten apple in the car, right? the do

quick story on this is a called and asked me to be on the federal reserve board. i had never thought about it before and you don't say no to the president, so that iad had o say what's -- i knew with the federal reserve board does but it wasn't really sure the responsibilities of all the governors. what happened was essence i was nominated all of a sudden dash i didn't know at the time when the president asked me to do this that i would have to go through senate confirmation. my advice to people is if the president have asked you to do jump and get to go through senate confirmation, say no because you're put under the microscope. all of a sudden literally these reports were calling girls i dated in college. did he ever mistreatow you? you know, look, i'm no saint. i have skeletons in my closet. i finally just one quick story about that though is i called the present a few times and said mr. president, this isn't going well. i i don't want to embarrass youo i said, i think i should probably resign, step aside. he was one who kept saying, this is something our member

president bostic has acknowledged making a trade that violated the federal reserve's competitive interest and trading rules. the federal reserve board'sce have found three specific issues, the first being that he helped treasury -- held more than $250,000 of treasuries and hex tensive trading during the blackout period and he also -- sorry, one second here, looking at it, he emitted a substantial number of securities transactions from his disclosures. these are being reviewed by the ethics board they -- he has said that these were inadvertent trades, that he was unaware that these trades had to be -- that the manager of his trades had to be aware of following the federal reserve board's rules. he also trade, by the way, during a certain blackout period of trades during 2020. >> if so, clearly this reminds us, steve, the fed trading scandal that happened. what was, it last year that led to some resignations of the regional fed presidents? >> there were two federal reserve -- >> robert kaplan. >> and eric rosenbrand who both resigned as a result which don't know what action will be taken relative to bostic the board put out a statement

the federal reserve board does not have to come in here as they're continuing to register the interest rates. so it's not just one area, it's 2 areas that we're continuing to watch. what look, every central bank is in the same problem right now. they're really, really worried about inflation. last thing they want is inflation. now they're forced to raise interest rates, but what does interest rates do? especially in economy like the or you can interest right now, higher interest rates are going to stifle the economy and that could risk raising our spectrum stagflation. that's the worst of all outcomes. and that's something that we really have to contend with going forward throughout the rest of the year. how, how all is stresses affecting the global financial markets? financial markets, remember, i think one of the lessons we learned last week as there was a lot of risk throughout, especially with regards to these l d. i'm investments that are really designed to sure our pension funds and keep them oh, you know, sort of isolated from global ris sentiment, but that's not working. and th

you can say that about the federal reserve board which had more to do with this than anyone else at leastare country. that's not how people think. they will blame the incumbent president and that's what they are doing now and that's what they have done across administrations, democratic and republican, since the beginning of the republic. it may or may not be fair you can make a good argument that isn't fair but it's reality. host: don't presidents often point the finger back and blame the president before them? at what point does the economy become a presidential issue? when did that switchover politically? where was the turning point? guest: it used to be bad form to lane your predecessor after a decent amount of time like six months. that has gone by the board along with the other rules about form. presidents will do that, governors do it, we had our governing here blaming predecessors for the drop in the education scores. that's what executives do to duck responsibility for something happening now. it affects partisans in their party to join a president or governor in condemning the p

lisa cook is one of the newest members of the federal reserve board. we will show a picture of her next to philip jefferson when they were before the senate getting ready to be confirmed. lisa cook in her work at michigan state, had done work on the impact of monetary policy, looking at the less privileged communities, minority communities, poorer communities, and how you had to be careful about thing ahead on things like that, so people thought maybe she would be dovish on her first official talk about monetary policy. she said they have to get to 2% and ongoing rate hikes are needed. she, too, is in that hawkish nest. if you look at some of the others we just ran through in that lovely series of quotes, let's take a look at loretta mester, inflation unacceptably high. chris waller sees rate hikes into next year. charlie evans, you heard him, 4.5% to 4.75 percent. he thinks supply chain forces are getting more into this inflation trend, that is a danger. neel kashkari quite a ways away from a pause. he is a dove that became one of the hawks leading th

dagen: the federal reserve board of governors are holding an emergency meeting today, bonds seeing theirat's the fed's next move to fight inflation, and what does it mean for your money? tyler goodspeed is here to weigh in. stay with us. ♪ and i said what about "breakfast at tiffany'sesome. ♪ she said, i think i remember the film -- ♪ and as i recall, i think we both kind of liked it. ♪ and i said, well, that's one thing we've got ♪ insurance so you only pay for what you need! (limu squawks) he's a natural. only pay for what you need. ♪liberty. liberty. liberty. liberty.♪ dagen: nasa and spacex are planning to launch four astronauts to the international space station week. cheryl casone has the details. cheryl: they're looking at a wednesday launch at noon. the launch has shifted a few times including the latest delay caused by hurricane ian. the crew includes two americans as well as a japanese and russian astronaut. their mission will take them to the international space station for six months. >>> well, moderna turning down a request from beijing to hand over the core intellectual pro

i am deeply humbled that the federal reserve board of governors wants to hear our voice. as nancy alluded to, you were one of the first we now have a seat at many tables we did not have before. there has been an increase in two way communication. we had strong community partnerships. many of us have been doing this work for many years. i am a volunteer, but many of us have an advocate and sharing our voice. we had new partners come to the table. new invitations. that is what i call one of the silver linings of the pandemic. the challenge will be to maintain that. there was tremendous generosity during the pandemic. echoing some of the comments earlier, it is how do we maintain those relationships? how do we maintain those direct channels with generous donors? with key partners? how do we develop new relationships that will serve our community? one of the lessons we learned is when we provide the right resources and the right, we give people a hand and they will lift themselves up. i think that is one of the things that came out of the pandemic. two way communication partn

[applause] [indiscernible] >> today federal reserve board member lisa cook talks about the economy, inflation and anna terry policy and her first each since joining the board of governors. that is live at 1:00 eastern on c-span or online at c-span.org. >> our campaign 2022 coverage continues tonight with i wet republican senator chuck grassley taking on his democratic challenger mike franken live at 8:00 eastern on c-span. then at 9:00, arizona democratic mark kelly faces like masters and libertarian mark victor in the first and only debate in that race before the midterm elections. you will also find our campaign coverage streaming live on the c-span now video at or online at . -- c-span.org. >> c-span is your unfiltered view of government are sponsored by these companies and more including wow. >> today fast internet connection is something that no one can live without. wow is there for our customers with speed, value, and choice. now more than ever it always starts with great internet. wow. supports the

talking about supply chains and these issues, war overseas, inflation is more controlled by our federal reserve board than by the president. all presidents are supposed to keep a distance from that. moderator: do you think there is an election integrity issue in nevada? >> absolutely not. there is not a modicum of fraud. moderator: you still think sending the mail-in ballot is a good idea? >> absolutely. moderator: republicans have generally used mail balloting in the past. >> making it universal and have ballasts laying around and people having access to them. how do you know they are now filling them out? you are hoping the system will catch it. moderator: you support voter id? >> yes, wholeheartedly. >> he supports eliminating or suppressing the vote. i am in favor doing anything possible, early voting. those are things that increase participation. we need to do more to increase participation not suppress voters. moderator: even though there has been no evidence of widespread fraud in nevada or elsewhere, the more things you do, send a registration, you are also opening up potential avenues to fra

she was nominated by president trump to be on the federal reserve board, which is where she deserved to be. she came in, one vote in the senate. we have met to thank for that for -- mitt romney to thank for that. someday should be the board chairman. when it should be a great one? -- wouldn't she be a great one? playoff of what you forbes just told us -- playoff of what steve forbes told us. >> thank you very much. and i think if you're asking, should the federal reserve have the ability to manipulate the cost of capital, that is an essential question. in a capitalist free market economy, i can think of a more important price -- can't think of a more important price than the interest rate on loanable capital. if you want one price determined by supply and demand, you would think that would be the the most important. but for reasons that david was explaining, since october 2008, when the federal reserve fundamentally changed the way it manages the interest rate, it started paying interest on reserves. that's now the primary way. it's no longer open market operations. that is peripheral

lisa cook, federal reserve board governors saying once again that she sees ongoing rate hikes.ct, she says today inflation is too high. it must come down. we will keep at it until the job is done and this will require ongoing rate hikes and then keeping policy restricted for some time. that is another thing that the markets keep hoping to secret when i spoke to jim from the st. louis fed yesterday, he did not talk about rates coming down anytime next year. he did talk about slowing them down, slowing down the pace. maybe moving them back to what you would call regular rate hikes. i guess he means something like 25 basis points, paul. for now markets have to brace for aggressive rate hikes p or do i know they are priced in, but you can never know how much they are going to affect the markets. bond yields, dollars etc. until they are actually happening. paul: all right, bloomberg global economics and policy editor kathleen hays there. let's get a check of markets now with annabelle in hong kong. plenty of catalysts for markets today. annabelle: that's right, paul. we've got the a

that's a national issue and it deals with the federal reserve board and so forth and so on.ery family, we've invested half a billion in affordable housing. trying to give money back to the families that they can use it as best they possibly can and we're going to continue to do that. >> reporter: you said it's a national issue, republicans call it bidenflation. what are your thoughts on that? >> the president doesn't have much influence over the price of gasoline. the oil companies have had record profits for the last couple of months. there's not much the president can do, either, but we've got to help where we possibly can. >> we're still working on this episode but i screened the rough cut this morning. what i love about this week's episode is we are all over the country, we're in nevada, pennsylvania, michigan, mississippi, we're in washington, new york, and you're really getting a feel of what it's like on the campaign trail. >> 11 days to go. >> it's going to be really intense. >> that really comes through in this episode. new episodes drop every sunday. let's go to gi

you can say that about the federal reserve board which had more to do with this than anyone else at leastare country. that's not how people think. they will blame the incumbent president and that's what they are doing now and that's what they have done across administrations, democratic and republican, since the beginning of the republic. it may or may not be fair you can make a good argument that isn't fair but it's reality. host: don't presidents often point the finger back and blame the president before them? at what point does the economy become a presidential issue? when did that switchover politically? where was the turning point? guest: it used to be bad form to lane your predecessor after a decent amount of time like six months. that has gone by the board along with the other rules about form. presidents will do that, governors do it, we had our governing here blaming predecessors for the drop in the education scores. that's what executives do to duck responsibility for something happening now. it affects partisans in their party to join a president or governor in condemning the p

lisa: which is the reason why he was on the federal reserve governor board and neither of us are.but my point is he is making an interesting point, which is originally it was about sentiment. which is the reason we cared about the university of michigan sentiment survey so much. and expectations becoming on more. do they pivot back to the pce, the core pce kind of metric to determine when to really take the pedal off the break? jonathan: i would like to give mike mckee the final word going into payrolls. mike, you're number one thing you are looking for? mike: job growth. the fed is looking for a sequential slowdown. we could look at the unemployment rate and participation rate, but the fed has gotten to the point where they don't think the precipitation -- the participation rate is going to go up more. let's look at the headline number. one thing mary daly said is, we are data-dependent, and data is a plural word. they are not just looking at pce, they are looking at every other inflation measure, and the university of michigan. they want -- what was the word? totality. jonathan:

. >> the federal reserve is looking for signs of a cool down down in the job market. the board has been raising interest rates but prices remain high. rate hikes are possible in november and december but if the the feds see hiring slow down dramatically in the coming mont, coming months, they may decide to ease up on those interest rate hikes. > >> the stock market is reacting to the release. the dow jones is is down in the red, 440 points at this hour. > >> twitter is firing back at elon musk. the company says hist his latest proposal to buy them at work cannot be trusted. the response after they requested a delaware judge to halt court fos for speeding's against him. you might remember, that is when he claimed twitter was lying about how many spam accounts are on the plat form. the judge has agreed to halt proceedings until until october 28th. now, the countdown is on for him to complete his purchase in order to avoid the lawsuit. > >> today, california taxpayers will start getting their inflation checks today ranging from $250 and a little over $10. it will arrive through di

million barrels a day cut and solid jobs report to likely keep the federal reserve on the path of raising interest rates across the boarde 5% increase today and hourly wages wiped out by 8.5% inflation eating alive americans purchasing power. edward lawrence in washington with more. >> no way around a strong jobs report but that's bad news because you can see the declining number of jobs added still enough the federal reserve to continue with aggressive rate hikes. another three quarters of a% in november based on the report i asked the labor secretary this morning when workers was see gains in their paychecks. >> wages went up five% but real wages went up. one of the policies going to fix that? >> the president passed legislation the last 12 or 13 months and we will see that further down the road, a lot of the money is just getting out, there will be a leg before we see the presidents pass through congress and have the impact. >> he wouldn't tell me if americans have to wait a year or two to have their wages grow faster than inflation. elizabeth: great report. congressman bruce westerman from house natural resources an

about a study i just saw that shows that economists in leadership positions on the board of governors at the federal reservecrat over republicans. >> yeah. charles: this is crazy. listen, the reason i did my intro the way i did is because there are natural impulses. you know that political leanings are at some point going to, you know, make their way into federal reserve policy, so we're talking about an omnipotent un checked powerful force that can destroy our economy and will should we be pushing back on this? >> well, of course, for exactly the reason you just stated. when you give that much power to manipulate the cost of capital, to create money with no questions asked, and to have the power to counter market movements and then you don't question the group think and then you find out that 90% of the economists who work at the federal reserve are registered democrats, i would like to see a descent once in a while and because it's not that the fed has not made mistakes. they admit it now and it would have been nice if someone felt like they could speak up. we need more intellectual diversity at the feder

the federal reserve has already made it more expensive to borrow money board members, signaling another market is giving potential buyers a bad case of nerves. further chilling purchase prices question is whether the economy itself has cooled enough to be to be a negative, uh, in addition to interest rates for realtors, such as rene ramos, the answer to that question could mean the difference between making a sale. pulling a home off the market. the market's changed. you just need to be patient and hang in there, and the buyer will come. ross and others hopeful those buyers will come back before fears of worsening conditions kill interest altogether. in the willow glen section of san jose jesse gary ktvu, fox two news and home sales dropped sharply last month as mortgage rates surged and more perspective buyers decided to hold off and getting into escrow. according to read vin. the number of homes sold last month dropped 25% in new listings dropped by 22% that is the biggest decline on record in both categories. the typical homebuyer, who took out a mortgage in july made a $62,000 down

the federal reserve has already made it more expensive to borrow money board members signaling anotheris likely by next year. the medium price town now comes with more baggage that will cost you 50% more per month than it did this time last year. erratic stock market is giving potential buyers a bad case of nerves. further chilling purchase price is the big question is whether the economy itself has cooled enough to be to be a negative, uh, in addition to interest rates for realtors, such as rene ramos, the answer to that question could mean the difference between making a sale. pulling a home off the market. the market's changed do you just need to be patient and hang in there and the buyer will come, ross and others hopeful those buyers will come back before fears of worsening conditions kill interest altogether. in the willow glen section of san jose jesse gary ktvu, fox two news. rocky start for some students looking to cancel their loans with some americans are dealing with just days after the online forgiveness application opened up. plus there were tears when my oldest was tryin

the federal reserve has already made it more expensive to borrow money board members signaling anotherthe medium price town now comes with a more gauge that will cost you 50% more per month than it did this time last year. erratic stock market is giving potential buyers a bad case of nerves. further chilling purchase prices question is whether the economy itself has cooled enough to be to be a negative, uh, in addition to interest rates for realtors, such as rene ramos, the answer to that question could mean the difference between making a sale. pulling a home off the market. the market's changed. you just need to be patient and hang in there, and the buyer will come and others hopeful those buyers will come back before fears of worsening conditions kill interest altogether. the willow glen section of san jose jesse gary ktvu, fox two news comedians chris rock and dave chappelle are bringing their comedy tour to the bay area. the comedians have announced a seven city west coast run in december, will be in san jose at the s a p. center on saturday, december 10th and at the chase center

the federal reserve has already made it more expensive to borrow money board members, signaling anotherikely by next year. the medium price town now comes to the mortgage that will cost you 50% more. for month and it did this time last year. erratic stock market is giving potential buyers a bad case of nerves. further chilling purchase price is the big question is whether the economy itself has cooled enough to be to be a negative, uh, in addition to interest rates for realtors, such as renee ross, the answer to that question could mean the difference between making a sale. pulling a home off the market. the market's changed. you just need to be patient and hang in there, and the buyer will come and others hopeful those buyers will come back before fears of worsening conditions kill interest altogether. in the willow glen section of san jose jesse gary ktvu fox two news to santa rosa, where an investigation is underway after two women say they were attacked under similar circumstances. police are working to figure of the two attacks are connected. the most recent one happened at a park

at 1:00, federal reserve or member, lisa cook talks about inflation and monetary policy in her first the speech since joining the boardgovernors. at 4:00, live coverage of the nasa space x crew mission docking at the international space station. you can watch on the free c-span now video app or online at c-span.org. >> advocates for economic investment discussed racial equity during a forum hosted by the treasury department, including small business investment, community engagement, affordable housing and the importance of investing equally in smaller towns in a larger metro areas. ♪

board that the terminal rate has to go higher. there's a rising voice of concern that are coming out of the federal reserve.days ago vice chair brainard said there's a danger in going too fast. charles evans has said there's a danger in overshooting and if you want to look at some of the damage that happens, unintended consequences, markets have a habit of making the decision for you and you saw what happened in england, they are trying to fend their guilt. it isn't working. they are going too small at this point and i think the most talked about thing that's going to be on the conference calls in the next couple of weeks starting on friday is the unintended consequences of a rising dollar. each 1% move higher in the dollar knock off out about half percent in -- in earnings here so there's a lot of challenges for this fed but they've got to get this right and they have to do it a lot slower than they are doing it. if they keep doing what they are doing right now the market is starting to break and unintended consequences. even jp morgan is saying they are seeing liquidity issues in bond markets and even tre

federal reserve. but worries are growing that the large rate hikes could dampen economies more than necessary. >> the bank of japan kicks off the two day boardrsday. the yen is weaker. and inflation is rising. people are starting to say the boj needs to do something by changing policy. we report that they may come as a surprise. >> the policy people are looking at is called yield curve control. or ycc. governor introduced it six years ago to spur the economy by keeping interest rates it does this by buying unlimited amounts of bonds from the market. but in the u.s., interest rates have been rising. this means the differential between u.s. and japanese rates is widening fast. that's causing the yen to fall against the dollar. investmentes in countries are higher rates tend to give better returns. so japan's currency recently fit a 32-year low. the weak yen is causing import prices to rise. driving up living costs for regular people. one expert says this may put pressure on the boj to act. >> translator: there are statistics make it apparent the burden of higher prices is being felt by the japanese people. if the economy struggles because of h

federal reserve bank during all of this just got the nobel prize for economics seriously. he was 1st appointed to the fed board of governors in 2002. he made a splash for himself by talking about the dangers of deflation and method that could be used to oppose deflation, giving birth to what's been called the burn. nancy doctor and george w bush liked him so much. she promoted him to the role of fed chairman in the lead up to the 2008 financial crash. he said that everything was just fine. he maintained the united states had the perfect goldilocks economy with sustained growth, low inflation, and monetary policy that served the market well. even told us that a potential mortgage bubble was nothing to worry about. i do think that this is mostly a localized problem and that's something that's gonna affect the national economy. remember how well that worked out. now he set out from there on a policy of trying to stabilize the economy by electronically crediting money to those who buy bonds. sounds a lot like printing money, but he insisted that it wasn't. sometimes you hear the fed is printing money in order to p

federal reserve that we will see peak hawkish in us. >> not at all. not yet. phil of jefferson joined the board of governors in may. here is what he said. they will be resolute on the inflation fight. i guess he opened the door for recession. they will bring inflation back down to 2%. she was once a dove and have joined the hawkish camp. she once again talked about not policy at this high level n-terminal rates. it's more what it means for regular people, consumers, and businesses. >> the suffering that people tell me they are going through is on the inflation side. if we let it go, it's a corrosive disease. >> john williams is president of the fed bank. he said yesterday, but let's keep him on the table today, that policy isn't restrictive yet. there is still a ways to go. two big things here. the jobs report this friday and the consumer price index. those are two things the fed will look at it closely. i can't imagine much that would deter the fed from this rate hiking path. >> australia has a much more open and traded economy. that is why they can afford to keep monetary policy looser. can the same logic be appl

embargo in the 1970s when i first came to the federal reserve and wall street and to venezuela and to iran. this is farcical. the "wall street journal" editorial boardalled it preposterous. >> dana: larry kudlow, thank you so much. we appreciate your expertise as always and the national security warning is well taken. thank you so much. >> dagen: new f.b.i. report on violent crime in the united states shows the national murder rate went up last year but the report does not include data from some of the biggest and most crime-ridden cities in the country. among them chicago. that's where garrett tenney is standing by live. good morning, garrett. >> dagen, good morning. the new f.b.i. report may paint a rosier picture than the reality. the bureau switched to a new program last year. 40% of police departments did not report data by the agency's deadline including major cities like here in chicago where part one crimes, the ten most serious crimes that occur on a regular basis are up 37% this year compared to 2021, which was one of the worst years in recent memories. the f.b.i. report doesn't include l.a. where part one crimes are up by 11% and didn't i

federal reserve. we are seeing u.s. stocks roaring back from losses, which have been sparked off that reading initially. we have benchmarks jumping right across the boarde clear leader. look at futures now, have a look at how they are. we do have that u.s. equity futures on the way up. s&p and nasdaq as well. euro looking good. yvonne: it was a monster inflation print but also a massive reversal. given what we are about to hear from the u.k., then preparing for this u-turn, and also taking a look at risk assets as well, we are seeing yields lower in this asia session. we are getting close to 3.9 for your 10-year yield. rishaad: looking there at essentially a key to hundred-day moving average being breached, that could presage more gains for the aussie against its japanese counterpart. ♪

continue to require approval of the board of supervisors for affordable housing, using city funding or land but would expedite certain projects, the federal reserved at its last meeting that it does expect higher interest rates to remain in place until inflation comes down. according to the minutes released today. from its september meeting, policymakers noted that inflation is especially taken its toll on lower income americans. ktvu is tom baker. car has the story. the federal reserve is likely to raise rates again, at least one or more times. this is meant to be engineered slowdown in the economy. terry connelly of former wall street investment banker and retired dean of the golden gate university school of business, says to get inflation under control, consumers must spend less and employers must cool it on hiring and wages. consider these very recent developments. wholesale inflation rose an unexpectedly high 8.5% diminishing american purchasing power. finance giant mortgage stanley says home prices will fall 7% next year as mortgage interest rates continue to rise. jpmorgan chase's ceo expects that a recession will come in 6 to 9 months. ba

federation, the second we opened additional collection points. ah, mobilized 20 reserve points fees good premises. it is a center of culture, and even a museum which houses draft boards that can calmly. the conditions for working as conscripts, including the consideration of a complaint, are last thursday. vladimir putin was forced to once again publicly explain who is subject to mobilization. and who is not i repeat, citizens who are in the reserve are subject to conscription, and above all those who served in the armed forces, have a demanded military specialty and relevant experience in the course of mobilization activities , a lot of information is received from citizens on this topic about the organization of the conscription itself. the quality of the supply of living conditions and other issues in the course of this mobilization, many questions arise and all mistakes must be corrected and not allowed on the prairie for those citizens. who, for example, should delay. and now, 2 days later, the moscow authorities have distributed footage of the door-to-door tour of the residents of the capitals, with which they had previously been erroneously handed the summons.

we're seeing red signals on the board today but it's after some pretty substantial gains on recent gains. the market bounces primarily on expectations that the federal reserventicipated as there are signs that the u.s. economy may already be slowing and perhaps inflation has hit its peak. >> so, on that the number of job openings in the united states plunged by more than 1 million per data -- in august, per data released late yesterday. what does that tell us about the state of the economy? >> well, this is precisely one of those signs that suggests that the economy is beginning to cool. in particular, that the labor market is beginning to cool, and this is crucial because it is one of the key signals that the federal reserve watches so closely. so that jolts report yesterday showed that vacancies fell hard. 10% in august than july. if you add what we heard anecdotally about hiring freezes and labor in sectors it would suggest that it's cooling off than in recent months. many fed watchers believe if. this trend exists and the next jolts reports shows similar trends then the federal reserve may indeed pull back on how hard they go with rates from here. >> so

the federal reserve has already made it more expensive to borrow money board members, signaling anotherrice town now comes to the mortgage that will cost you 50% more per month than it did this time last year. erratic stock market is giving potential buyers a bad case of nerves. further chilling purchase prices question is whether the economy itself has cooled enough to be to be a negative, uh, in addition to interest rates for realtors, such as rene ramos, the answer to that question could mean the difference between making a sale. pulling a home off the market. the market's changed. you just need to be patient and hang in there, and the buyer will come and others hopeful those buyers will come back before fears of worsening conditions kill interest altogether. the willow glen section of san jose jesse gary ktvu, fox two news. thank you, jesse. comedians chris rock and dave chappelle are bringing their comedy toward to the bay area. the comedians have announced a seven city west coast run in december. they will be in san jose, the asap center saturday, december 10th and at the chase ce

board right there. and to your point, the labor market remains robust. perhaps showing signs of cooling. how is that going to play in to the federal reserve'sto fight inflation? >> yeah. so interestingly enough, jonathan, one would think that when you have unemployment numbers that bodes well for the economy s working against the federal reserve. with such positivity, i means that they have to work harder to bring down inflation. clearly unemployment isn't as down beat as one would have thought in a time like this. 3.5% unemployment meaning on the whole generally people are giving the kind of jobs that they are requesting. it is lower than the 275 that was estimated. it is a hot report in this regard. so the fed will be looking to continue to hike interest rates by just how marginal to cool this off in terms of inflation. it certainly is going to be the key element to look out for. so, yeah, another hike in interest rates still expected. >> lastly, the bank of england today announced further measures to ensure financial stability in the united kingdom. what is the latest? >> yeah. so this one has become very interesting. the bank of england

federal reserve's next interest rate decision is set for november 2nd in washington, carolina, shively ktvu to noon. let's take a live look at how stocks are doing right now. you're looking at the big boardn see the dow is down 550 points or nearly 2% right now just plunging after opening bell , not much better than the other major industries, either. the nasdaq is down, 385 points down 3.4% and the s and p 500 down 92 points at 2.5. october is filipino american history month and to celebrate san francisco native and multitalented artist adrian per is releasing his project parasite cultural, which means for the culture in tagalog , and adrian joins us now in the studio. it's great to have you here and i'm really i saw some of these photos that you're going to be showing and they're fantastic. thank you. thank you for having me it's an honor to be on the show. so how did you come up with doing this project? because i know that you've done editorial photos and editorial photos are explained what those are first of all, so i do a lot of editorial photoshoots whether it be for big brands for artists , household names. um you know for big publications, whether it be vogue, forbes, you know bi