jack: you were in the room, 94-96 under greenspan, what was it like when you were debating policy?s it formal with power points? do people yell about the phillips curve and aggregate demand, how does that work? >> they never yell, yelling is just in the federal reserve board room, it is extremely polite. under greenspan, more than today it was very stilted which we would go around the table, each person spoke and you were not supposed to interrupt the other guy or gal as they were speaking, it was more freewheeling than that. it is not raucous by any definition, extremely polite. jack: we leave the heavy lifting to the federal reserve to tackling inflation, that's because politicians don't make tough choices, raising taxes, cutting spending. in a perfect world would those be better tools to help tackle inflation? >> i don't know if they would be better but there are two tools to use and interest rates could be less volatile, using something other than the interest rates. i point out in my book that the first time fiscal policy was used to fight inflation was under lyndon johnson. i

i'd love to get back to that point about alan green the alan greenspan era because it's an important point in your book. but before we do, i'd like to just finish talking about bond purchases because that's also an important point in your book. i wonder how you sort of square this argument that you're making which is that fed bond purchases spur inflation with the reality that we had fed. bond purchases also been very large quantities over the sort of post-financial crisis period and we didn't see a lot of inflation. in fact, we saw very low inf over that period and so i wonder i wonder how those how those things work together. a very good a very pertinent question because what happened after 2008 was a two things one is the federal reserve while they're creating this money in effect froze the money, you know, the mention they the fed buys the bonds they credit the bank account that the dealer has at the federal reserve and what they did was something they'd never done before they started to pay interest on those reserve. they'd never done that before at the same time. they were putt

parks are love to get back topoa that point alan greenspan era. we for we do and also an important point in your book. i wonder how you score this argument that you are making. they spur inflation with the reality that we had fed bond purchases in very large quantities over the post financial crisis. weov did not see a lot of inflation part of vectors are very inflation overr that. so i wonder how the things work together? >> a very good, very pertinent question. what happened after 2008 was two things. one is the federal reserve while they are creating this money ineffective froze the money. i'll mention that fed buys the bomb that credit the bank account the dealer has at the federal reserve and what they did was something they've never done before they started to pay interest on those reserves. they never done that before. at the same time they're putting pressure on banks to slow down the lending part for hiring more after the disaster of 2,082,009 they're hiring more compliance officers and loan officers. so the volumes of loans went down eve

in the greenspan era though in the early '90s we still have some inflation. it sort of hovered in the two to 4% range range which is relatively similar to what we have seen for much of the decade prior to the pandemic. actually a bit higher. i wonder if you could talk a little bit about how you square with that with the idea that it would be better to have no inflation at all. >> guest: well, in terms of, again, this is where have to make a distinction between nonmonetary and monetary inflation. paul volcker who in the early 1980s headed up the federal reserve and killed terrible inflation at a very high cost that had been inflicting us in the '70s because in the '70s they would fight it, not fully kill it. so we went through a very grim period and early 80s to finally stop at once and for all. and he rolls, we did an interview with him a couple of years ago, and he, four years ago, and he would roll his eyes at the idea that 2% inflation is good. in terms of the stability of the dollar you want, you don't want inflation or deflation. you want flation. this i

- mild recession is a factor, but the answer fed has been so easy for so long, this started with greenspans god on steroids through bernanke, powell money free al diming people do dumb things with free money you saw staff market boom crypto market boom, of course, a bust people are greed the nature of markets want to squeeze every last bit of return out. when fed pivots people got caught off guard it wasn't jay powell was, for his job got hawkish he went from dove to hawk. >>. >> lael brainard right bundy him he wanted the job he said let me go with biden what biden wants come on give me a graek gdp out any second 2. % growth third quarter kwpg. >> something like that generally second quarter revision not particularly large surprised if it schaenths more than -- >> gdp, hitting tape as he mortgage rates drop to 6.49% this morning, come off the highs, the numbers are out cheryl casone with it, we are waiting on home sales. cheryl: not seeing gdp cross right now producers if it i don't please let me know. >> end ing home sales 10 a.m. eastern after mortgage rates have come off highs, expecti

we never saw this on november, nancy, or even alan greenspan. you actually have to go back to the early 19 eighties under . busy paul volcker, and i think this says a lot about not just how high inflation is, but how stubborn did raytheon another military contractors are making a killing. but the american people are suffering. is anyone now shocked that the public is fuming? is i'm getting my money to ukraine. i have every way disrespect to you because you're the 1000 equation with 80000000. craig, i'm sorry, bill, in my mistake that you are a fraud. now some would say that heckling public officials is certainly not the way out. but what exactly does one do when the president himself seems to be somewhat out of touch with reality? not concerned about with i'm concerned about with one of the people you a lack did are focused on a country overseas, while things in your community just keep getting worse and worse. you might think that it's time to be a little bit less polite. maybe it's time for some unconventional politics. the polls are now swing

this happening, we are optimistic that it is being discussed and that this can happen, said rebecca greenspanral of the un conference on trade and development. well, russia, or rather, ukraine can agree to the transit of russian ammonia, which the russian federation insists on, only after the exchange of prisoners according to the all-for-all formula takes place. the ukrainian president noted this, and we have so far, there is an open plane here. that is why there is alarming news, so to speak, not a military plan. snowfalls are coming to ukraine in the kyiv region, it can bring up to 15 cm , literally from the ukrainian hydrometeorological center. warning about dangerous meteorological phenomena in the kyiv region on november 19, weather complications at night, significant snow during the day, moderate-moderate wet snow and wet snow accumulation during the day, an increase in the snow cover of 10-15 cm is expected on the roads , the danger level is yellow in ukraine, medical centers noted that the deterioration of the weather can lead to disruption of traffic on the roads and streets, driver

and the ascension of alan greenspan.look at the last 30 years. we've traded bubbles for crashes and other subsequent bubbles that came out of excessive fed spending. i think they were accused of keeping rates too low for too long well into the housing bubble. and that's the housing bubble we certainly had terrible unintended consequences with subprime and wall street toxicity and foreclosures and everything and the fed is the caller noted had to come out with quantitative easing. extraordinary measures of conjuring money out of thin air. the quantitative easing we saw out of the pandemic the fed was buying assets left and right, backstopping corporate bonds and everything and that led to unbelievable amounts of risk-taking in the markets in hindsight looking at crypto and nft's when you suppress rates and bring them down to zero. people go out and are induced to sometimes 2020 hindsight reckless things. and breaking the spell of the resulting inflation is difficult talking with the trillions of dollars that were added to

and the ascension of alan greenspan.ok at the last 30 years. we've traded bubbles for crashes and other subsequent bubbles that came out of excessive fed spending. i think they were accused of keeping rates too low for too long well into the housing bubble. and that's the housing bubble we certainly had terrible unintended consequences with subprime and wall street toxicity and foreclosures and everything and the fed is the caller noted had to come out with quantitative easing. extraordinary measures of conjuring money out of thin air. the quantitative easing we saw out of the pandemic the fed was buying assets left and right, backstopping corporate bonds and everything and that led to unbelievable amounts of risk-taking in the markets in hindsight looking at crypto and nft's when you suppress rates and bring them down to zero. people go out and are induced to sometimes 2020 hindsight reckless things. and breaking the spell of the resulting inflation is difficult talking with the trillions of dollars that were added to t

powell engaged in in his press conference after they did what they did and that was a combination of greenspan talking and the reality is the stock market had a big move. neil: who do you trust more? >> for this issue of inflation the bond market. neil: there are a lot of people speaking, i'm safer in bonds than in stocks. neil: if you think about aggregate bond indexes this year, last year, not only domestically but globally, this is a time period were bond prices and stock prices are extraordinarily, bonds are not good in this period haven where as in most markets that hasn't been the case. the fact is the friends you cited earlier having big loads shouldn't have been so loaded in individual things like that. neil: you don't have losses until you sell. >> something that's not perfectly true, some arguments against parts of this. in aggregate things that tend to drop the most in a bear market, to the other side, tend to bounce the most early on so the fact is that is why patience is a virtue and also impossible for people to do because they start out to be a passive investor. neil: time in th

we never saw this from ben bernanke, or even alan greenspan. you have to go back to the early '80s under paul volcker. i think this says how stubborn the inflation has been. the fed's statement, which is watched very closely, is basically identical to last month, except for one key part. the fed reiterated that ongoing interest rate hikes are likely to be appropriate, but they added that this is going to be the case in order to get policy restrictive enough to get inflation down to 2% over time. the fed also laid out some criteria, about what it's going to take for them to slow the pace of these massive interest rate hikes. they laid out three key factors, one economic and financial developments, two the cumulative tightening of monetary policy thus fare, and the lag with which monetary pole affects economic activity and inflation. that's important. it takes many months for these rate hikes to hit the reel economy. so there are some fears the fed might be overdoing the rate hikes without even knowing it. maybe the fed is laying the groundwork t

and one of the disturbing things about the fed is that i remember when bernanke and greenspan, you go back as far as you want with fed chairmen, and they were the spokesperson for the fed. today we have all these people speaking about interest rates, voting member, non-voting members -- liz: that's called transparency, don't you you know? >> welsh it's very confusing for investors. my message for them would be why don't they let one person speak, anding make it a lot easier for all of us. it's going to be a longer game in terms of inflation. so until there is some clarity in terms of what the fed's position is, i think cash is still king, and the treasury market is a great place to be. liz: john's a little bit more of a whippersnapper when it comes to investing, i bet. surely you have some sectors that you like this very minute. >> i think gold is an interesting play here. there's an inflation play there. we're coming off the top a little bit on inflation which seems to have peaked, and if you have black swan events out there like the debt ceiling next year, clearly all the geopolitic

>> maria fed also made a mistake in leaving rates too low too long emergency was over case under greenspany powell. >> for sure great to have you this morning please come back soon, we'll be right back. ♪ ♪ "mornings with maria" next week live on historic 2022 midterm elections breaking news results analysis from our fox business team of experts, first. . new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today. xfinity rewards is a program whose sole purpose is to say "thank you" with experiences big, small and once-in-a-lifetime. sometimes it's about cheering hard enough to shake the stadium! sometimes, it's as simple as movie night right here at home, on us. you mean the world to us. so we're bringing you closer to what you love. kinda like this. welcome to 30 rock! join xfinity rewards for free on the xfinity app today. our thanks, your rewards. millions have made the switch from th

. >> inflation, without going down the rabbit hole alan greenspan wanted to put spending did it saying inflation was overstated. maria: that is integrate thank you, everybody joel, ashley: good morning, maria, great panel discussion. good morning, everyone. i'm ashley webster in today for stuary varney. well, let's get right to this , more unrest in china, riot police in hazmat suits clashing with protesters in china's fifth largest city. the communist nation is one of the last countries in the world to still have strict zero-covid policies, and these protests have been taking a very violent turn. so, why is president biden staying silent? and then there's canada's trudeau. he says people in china should be allowed to protest. oh, but wait a minute. didn't he shutdown the trucker protests in his own country? hmmm. we'll take on that hypocrisy. to the markets we got housing and jobs data coming out at the top of the next hour. meanwhile, the markets are flat in the pre-market, dow, s&p and nasdaq pretty much where they were when they closed in yesterday's session. let's take a look at b

when alan greenspan ran the fed, some investors would do what they referred to as the briefcase indicator. depending on the thickness of his bag, his briefcase, the market tried to decipher what would be coming next in other words, how many papers did he have in the briefcase, furiously shuffling through. these days, we don't interpret words like we used to. we dissect them online we have to change ongoing to further, rising to stabilizing, future to current. and those changes in language could alter the direction of the markets. in fact, i think former goldman sachs lloyd blankfein, who is wickedly funny on the side, tweeted, i imagine jay powell and the rest of the fed governors are right now sitting with a thesaurus trying to find a word that means "pause" or "not pause" depending on who's listening. it's probably too close to reality. joining us now, annetteta marcowski, chief financial economist at jeffries. do you have your thesaurus -- easy for me to say -- thesaurus ready, but any change in any of those languages and i just posted the last statement on my twitter account, is going

i'm going to butcher it, but there's some alan greenspan quote back if the day, something like if you understand what i said, i misspoke and following the press release, it was like two separate organizations put each one out or they totally contradicted each other. how do you read the federal reserve right now. because they do matter a lot for stocks >> sure, i always, that's a great quote, by the way. and you know, i really think that the fed is pivoting a little bit i think -- i read more into what was written, because let's recognize the fact that we've had a cumulative impact from all of these hikes that we've already had, and maybe we can slow down a little bit and not go so aggressive moving forward. you've got to understand that the data on inflation is not going to move overnight and i think that the fed is wise to make a slight pivot to be a bit more dovish. >> yeah, especially with some of the wage gains that we have seen there, what economists, i believe, would call sticky and i hate to bring politics up, we've got five or six days until the midterms, so we kind of have to

[laughter] cheryl: bring back alan greenspan. the word salad.nk you very much, good to see you both. see you this many a little bit. >>> all right, well, recruiting border help from the friendly skies. federal air marshals are now assisting at the border leaving a big security gap with our airlines. we're going to give you all the details coming up next. ♪ borderline, feels like i'm going to lose my mind. ♪ you just keep on pushing my love over the borderline ♪ the first-ever all-electric chevy equinox ev. up to 300 miles of range on a full charge. and a starting price around $30,000. evs for everyone, everywhere. chevrolet. (vo) businesses nationwide are switching to verizon business internet. (woman) it's a perfect fit for my small business. (vo) verizon has business internet solutions nationwide. (man) for our not-so-small business too. (vo) get internet that keeps your business ready for anything. from verizon. you spend the holidays making everyone else smile, but what about your smile? it needs care too, and when it does, aspen dental is h

price-to-book valuation and return on equity as it did back then and the market exploded through 1995 when greenspan giving speeches about they may have ove overdone it and there's a recession risk the dynamic is pretty similar to 95 when the fed funds rate was hiked from 3 to 6, as you acknowledged >> trying to put a positive spin on rate hikes, although i will say, americans have almost $1 trillion now in credit card debt, which is mostly resolve and over $2 trillion added household debt, a lot of that is home equity line which may be movable as well. student loan debt. we'll see what happens thank you very much. >> thanks. >>> coming up, do you have crypto losses? if so, you might be looking to ease the pain? well, don't worry. sharon epperson is here. she's got some advice from the pros about how to find maybe a silver lining in all of this stk ou icarnd what if you were a major transit system with billions of passengers taking millions of trips every year? you aren't about to let any cyberattacks slow you down. so you partner with ibm to build a security architecture to keep your data, network,

that's something that we never saw under janet yellen or ben bernanke or allen greenspan. you have to go back to the early '80s under paul volker since the fed has had to do figure like this. i think that shows how high inflation is right now but also how stubborn it's been. it's basically been stuck at these 41-year highs. now, feds warn inflation is sending shock waves through the economy. mortgage rates are above 7% for the first time in 20 years. the stock market is having its worst year ins 2008. credit card rates are near record highs and recession risks are elevated. now, history shows that the fed is often late to attacking inflation and then when it does attack inflation they end up going too far. often, but not always, we see recessions following these inflation-fighting campaigns. so, erica, you know, the fed has to get this just right. put out the inflation fire without wrecking the economy and that's not going to be easy. >> yeah. it is not. i'm glad it's not my job. we will be following it. matt, appreciate it. thank you. >>> still to come here, a cnn exclusi

that's what alan greenspan if used to call the wealth effect. >> yeah: and everybody is going to think great when, obviously, the fundamentals of our economy are bad. we are in a recession what i worry about is, yes, i understand that a lot of our supply chain problems have been rectified. but what i to worry about is if we have an overall problems of getting goods from point a to point b within the united states, how does that work with the supply and demand issues around the holiday season? how does that work with the increase in demand for home heating oil in the northeast and other cold areas during the winter months? i think all of this comes to a head in november, december -- maria: it's such a great point because, congressman smith, let's face it, joe biden tried to make us think there was no rail strike and they had a tent9tive deal, two unions voted against it. any day now we could see a strike from the two companies, and that's going to really add stress to this economy. >> yeah, maria with, i also want to point out the price of diesel just in is just over $5 a gallon. like k

charles: began with the greenspan briefcase. all i'm saying. we're looking at a briefcase, folks!ing on a briefcase. you talked about the nasdaq 100 versus the s&p. let's just put that in perspective because the nasdaq 100, it had almost a decade run. just obliterated the s&p. that obviously came to an end late last year. we're tripping pretty much here. feels like we're at a point, gary, do-or-die or make this reversal. is that what you are waiting on before becoming more constructive or aggressive? >> look all i've been doing is buying boring because the nasdaq and nasdaq 100 have been comatose. in this rally off of the lows in october, it has been a really big-time down move and the nasdaq, nasdaq 100 are hardly off the lows now. hopefully today is a wake-up call. i said if we break above the next three weeks you get some more upside but overall i'm really worried that a lot of those names are down for the count. just remember, when we topped out after that gargantuan move in '99, stocks went wayside, b, never came back. they had their moment in time. remember a lot of the comp

the man who knew the life and times, alan greenspan, his work has been published in various publications foreign affairs, the atlantic, the washington and the financial times, where he spent two years as contributing editor in the power of law, venture capital and. the making of the new future. mallaby tells the story of silicon dominant venture capital firms and how their strategies and faith have shaped the path of innovation and the global economy. next, we have philip short. philip has written several definitive biographies, including mal a life pol pot, anatomy of a nightmare and, a taste for intrigue, the multiple lives of francois mitterrand. he worked as a journalist for the bbc for 25 years and as a foreign in moscow, beijing and washington, dc, and wrote for economist and the times of london in putin that is the first comprehensive of fully up date biography of vladimir woven into the tumultuous saga of russia over the last 60 years. next, we have michael beckley. michael is the expert on the balance of power between the united states and china, the author of two books and mult

, not a very good book, but it's called secrets of the temple where the fed was not up front and greenspan was not a big fan of transparency. there was a case where a senator said to him you've been very clear and he said, i must have made a mistake there's been tremendous movement in that regard, but i actually think that we can't say that jay has done a better job in terms of communicating a more transparent than the previous two chairman or chair people >> okay. thank you for joining us always great to get those insights from a former insider we just have a few minutes left before fed chair powell's news conference let's get over to mike santoli at the new york stock exchange for the reaction we're seeing on the floor there and stocks more broadly. >> yeah, morgan, mild relief i think the market probably has it correct this was not in the statement. any kind of a real game changer. not a statement of intent to go a lot easier, but emerging flexibility in how the fed goes. wouldn't be surprising to see powell point us to the fact that this new statement is pretty consistent with the sept

rishaad: this is something which happened in the u.s., it was under greenspan where he moved from fixed mortgages to variable mortgages. there is a lot of consternation at the time about whether this was a good thing. when interest rates started to go up, found people in distress. it is something which is skewed the housing market. from the past, from the years gone by. yvonne: let's bring in our mliv strategist. in this presser, how much higher do you think we can go on the back of hawkish comments from adrian or? >> i think you have to see new zealand in a slightly different situation than the u.s.. it is a smaller economy, things happen more quickly. they are seeing a big return with more people coming into the country. there is a big squeeze on wages. it is a slightly different situation to the u.s., where already we are seeing companies do big layoffs. that would ease some of the wage pressures in america that is still filtering through new zealand. they feel they need to be more aggressive in taming that. that is why they're talking about taking rates up to 5.5%. the fed may not n

the greenspan in the late 90s even talked about how he followed the gold price, he forgot it in the late 90s but for a time you paid attention and influenced monetary policy. so if you want totalk about cancel culture , just mention gold. and abyou will the police will be coming in. keep them away please. but when we went off brittany woods just to throw out one statistic in terms of what happens over a period of time when you don't have sound money, when you don't focus on stable money that is the cure for inflation. you stabilize your currency and by golly the price rise will go away. their distortions work way through and you look after the 1990s when lithuania, latvia, estonia and other formally economist countries have hyperinflation several of them went to currency boards or near currency boards, bulgaria. and by golly almost overnight when they tied it to the deutschmark overnight the crisis was ended. it took time to unwind the distortions that came from the hyperinflation but by golly things were on the upswing. we saw that in the 1980s in this country. texas, iowa, energy agric

during the obama administration and i remember doing a panel like this and didn't know that alan greenspan going to be invited to interrogate us and i was scared to death and him looking at me, and trade, and instead of this, and i said unemployment rate hits 12% and the reality is, i don't know that it's much a change in philosophy in that we have not done a good job articulating how the benefits of trade, what we do, what we sell, how we engage around the world flow through average families hat home and remember, we worked with other groups to get businesses, you know, big employees like boeing to make sure their suppliers knew. all of these flag owned planes aren't just for bragging rights. we are selling planes and that's how you keep your job. and bill, i think we have to rebit the accepted proposition among most americans right now that we've come out on the short end of trade. though know we get cheaper clothes and cheaper electronics, but they believe the jobs have gone elsewhere and i think to me, worker centric is just being much more focused, much plainer about making sure these

hardline, people are really going to say, recession so, it doesn't pay it pays to obfuscate almost do a greenspan have a jolt in his pocket but not nonfarm >> you're too close to that number to be able to say, look, i'm really -- i think that the economy's weak or the economy's strong why stick your neck out and hurt your credibility >> we'll get to this on wednesday. overall, holding 4,000 here on the s&p. let's get to bob pisani. >> good morning, guys. happy monday two to one, declining to advancing stocks and you can see the impact these china protests are having on our market again, i look at what's risk on, risk off today and it's generally risk off and you have to point the finger mostly to the china protests energy, oil's at the lowest level in almost a year, since december of last year. metals and mining, another classic global risk on, risk off, that's down notably here's the curious story of the day. china shares -- china's stocks generally are flat to slightly on the upside. there's the big one. kraneshares trading to the upside i want to note what's going on in the energy stocks becau

it was unthinkable for alan greenspan to comment on the dollar. crises we have enjoyed, we now have a fed in bed with the treasury, talking about the dollar, social policy, as well. where do go now? alan: this is not happening right away, but in time, you'll see more of a separation between the fed and treasury. back toward the traditional system, at least in the united states. not in the world, by the way, but in the united states. the pandemic crisis just insisted that the treasury and the fed snuggle up together -- that is a bad metaphor. work toward the same goals and not have any distance showing between the two of them. there were liquidity facilities the fed created, lending facilities backstopped by the treasury. that type of cooperation was dictated by the circumstances. hopefully we all think we will get back to normal. tom: as you were speaking, whitesmoke came out in advance to let people know what would be said. is there too much fed speak today? alan: i don't think so. an elusive but reasonable goal, is to get the fed speaking with o

head of research for all of the fed under alan greenspan.economic growth in america. lisa abramowitz and tom keene. lisa, i have to be honest, we have gotten more talk on the astros and the phillies. suarez is in the pitch battle of anger. as the astros and equity strategist is barely on speaking terms. lisa: the fact that yankees fans are rooting for the phillies tells you everything you need to know about the astros. tom: futures are up 42 right now. i thought this was so important that we should dive into it. edna curran and others have lived the quarantine. i want you to speak of the nuances of quarantine that you have lived and observed in hong kong. do you suddenly get out of it or our government authorities easing out of it? which is it? >> hong kong was cut off for the the rest of the world, two weeks in the hotel. they have lifted that and there is still a rigorous testing in place. that is deterring global business people from landing here in the way that they once did. don't forget, on the china side you haven't crossed the border

some recent 3.83 on the ten year which has become maybe as important as it used to be when alan greenspanng he wanted to see on the lower right-hand side of our screen i think we're back to that now in terms of importance we just -- market analyst jim paulsonsaid that the fed is less important than what the ten year does and he thinks it's maybe already peaked we shall see only time with tell. oil is under $80 on renewed lockdown fears in china. $79.86 bitcoin desperately trying to hold 16,000. 16,000 down 3% this morning not quite. >>> let's talk about the big story that broke overnight walt disney's board announcing that bob chapek is out he's no longer the company's ceo. he is reappointing bob iger as ceo. it comes just months after the board agreed to give him that big contract extension just says ago, he announced plans to cut costs, including hiring freezes and layoffs, all of that as he grapples with the disney+ streaming service and weakening economic conditions. chapek's tenure has been a rorock one. the stock down 30% since he was named ceo in late 2020 after that, disney was fo

and that is a disappointment and we've been on the short side with respect to the special sauces, greenspanst 3.5% productivity is down a percent and unit labor costs are down as well this is a third quarter preliminary. there is going to be many changes going on with respect to this and do keep in mind that the recent high water mark has been 12.7 in terms of unit labor costs so we've seen some significant moderations. 217,000 on initial claims. that is less than expected and if we look at continuing claims, 1,485,000, that is more than expected and that is the highest level going back to march 2022, so that is a bit bigger than expected 217,000, well that is easy, we've been on the low side 217 is only 1,000 less tan the 218,000 from last week we want to continue to monitor the yield curve, the three months to tens has shifted positive after four consecutive closed inverted. we saw the bank of england raising three quarters of a point. and in the '80s their high water mark was 15% in 1989 and maybe the most important thing, yesterday, well the fed didn't pivot. and it doesn't pause and it

the man who knew the life and times, alan greenspan, his work has been published in various publications foreign affairs, the atlantic, the washington and the financial times, where he spent two years as contributing editor in the power of law, venture capital and. the making of the new future. mallaby tells the story of silicon dominant venture capital firms and how their strategies and faith have shaped the path of innovation and the global economy. next, we have philip short. philip has written several definitive biographies, including mal a life pol pot, anatomy of a nightmare and, a taste for intrigue, the multiple lives of francois mitterrand. he worked as a journalist for the bbc for 25 years and as a foreign in moscow, beijing and washington, dc, and wrote for economist and the times of london in putin that is the first comprehensive of fully up date biography of vladimir woven into the tumultuous saga of russia over the last 60 years. next, we have michael beckley. michael is the expert on the balance of power between the united states and china, the author of two books and mult