and the federal reserve bank of new york has appointed the next president he is economist john williams who currently has a scent francisco federal reserve bank where he's worked for nearly a quarter of a century mr williams is seen as an ally of new federal reserve chairman jay powell the new york federal reserve is the most important show and largest holder of assets of all of the twelve regional federal reserve banks the current new york fed chair bill dudley will leave in mid june when mr williams replaces him. and last month the co-founder of whatsapp brian acton expressed astonishment by tweeting it's time to hashtag delete facebook whatsapp has more than a billion users now however we learned that whatsapp which is actually owned by the parent facebook has a similar design flaw to facebook which places you to user data in peril whatsapp claims that they protect your messages photos. videos voice message documents and calls and they are all secured from falling into the wrong hands however when using what's app group chat user data can be harvested by anyone in the group including your mobile phone number the discov

and the federal reserve bank of new york has appointed the next president he is economist john williams who currently has a scent francisco federal reserve bank where he's worked for nearly a quarter of a century mr williams is seen as an ally of new federal reserve chairman jay powell the new york federal reserve is the most in pool actual and largest holder of assets of all of the twelve regional federal reserve banks the current new york fed chair bill dudley will leave in mid june when mr williams replaces him. and last month the co-founder of whatsapp brian acton expressed astonishment by tweeting it's time to hashtag delete facebook whatsapp has more than a billion users now however we learned that whatsapp which is actually owned by the parent facebook has a similar design flaw to facebook which places you to user data in peril whatsapp claims that they protect your messages photos videos voice messages documents and calls and they are all secured from falling into the wrong and however when using what's app group chat user data can be harvested by any. one in the group including your mobile phone number the discov

banks. he's been the san francisco fed president since 2011 he is the xwektive vp and research before that a quarter century at the federal reserve system pafd in economics. he has argued that the neutral interest rate is low and should remain low, but calling for three r or four hikes this year. big issue was about the effort to find a diverse candidate. they decided on somebody who has implemented a lot of diversity in his bank. criticized by senate warren among others for the wells fargo supervision, which is supervised by the fed >> gives you an indication on how people think of the san francisco fed. considering janet yellen came from there to be fed chair. john williams coming from there. >> i was offered cleveland and richmond i'm holding out for the san francisco fed appointment because that's clearly the root. >> excellent point >> no disrespect to atlanta or these other countries, but clearly, that post and that perch, if you will, carries some heft >> it's the, sure, it's by far the largest geographic region. it's a real weird quirk of how when it was created in 1913. there was really nothing happening out west, so the

that will take over the new york federal reserve bank come june he'll have a vote at every meeting as opposed to, i guess it was, every other meeting for the san francisco fed president, kelly. >> new york retains that privileged position. steve, thank you very much kerry, i want to bring you in for a second there was something different about the selloff today versus the last couple of weeks we're not talking about a tech wreck. what are your thoughts >> correct it was nice to see that because it suggested to me the scrutiny of technology and how this is the culprit of the market that's going to take it down has sort of abated. this seemed to be a response to the trade issue. whether there's going to be a decline in earnings that relates to tariffs on dow-related companies. that's a much broader basket and i actually think it will have more effectively influenced the administration the idea that companies like caterpillar and boeing had a really rough day today is going to make a lot of people talk this weekend about what they might do to reduce that fear, that earnings are going to be hurt badly this year because of what might happen with trade so, it