it wasn't something that harker -- concerned harker all that much but it strikes me that now that we have these upper 7s on mortgages, starting over in the business sector, it strikes me this is the lag we've been waiting for. and some of what you are saying about the slowdown is something in our future or near future >> yeah, i think that's right. gosh, interest rates haven't been this high on mortgages since before the global financial crisis now, because so much people are sitting on those 3% or below mortgages, they ain't selling unless they have to. but that's the thing i worry about that if the unemployment rate starts going up, that means people won't have a choice but maybe to move, suddenly supply will increase and that could put down pressure on prices. that would reduce people's wealth, that could put further downward pressure on economic activity so, i think it's -- i think it's really unlikely we'll get through this with the unemployment rate not going much above 4% maybe, but i see that sort of playing out in the first half of next year. >>. >> interesting even as we're

that was philadelphia fed president patrick harker discussing china's impact on global growth.ief global equity strategist peter oppenheimer great to see you today. >> and you thank you for having me. >> you heard harker there a voting member sort of downplaying the effects of china on global growth, but tell us how you're modeling china's effect not just on the fed decision but powell's speech but the deflationary effect this could have on other parts of the world. >> absolutely. i mean china is clearly going through some weak cyclical factors and major structural headwinds to growth. to the extent that it is actually having more of a disinflationary effect on the chinese economy that is helping to offset some of the more inflationary pressures we've been seeing in many of the western economies. so that extent from a global perspective i think it's reasonably positive factor that being said, of course, it is a very important part of global gdp and indeed both supply chains as well as demand for a lot of companies, particularly from areas like europe where i am now sitting, and

harker we've done enough.they have >> i think tomorrow's message from chair powell in jackson hole is going to be relatively low key and pragmatic. it's not going to be hawkish in the following sense. i think he's going to say that we've made good progress on inflation, but we have to watch and see if that continues. and he's going to observe, i would expect, that they have to be particularly vigilant because there is stronger underlying growth than most expected and that the fed expected, and that's the basis for being very watchful i don't think his message is going to be one which commits the fed one way or the other on the upcoming september meeting it gives them the flexibility to raise again, including then. if the interim data makes the case for that but doesn't commit him. so a pragmatic, relatively low key, low drama message >> do you think in your gut that september's a live meeting, roger, or do you think we have a pause and then we'll put november on the table and just see what the inflation data f

dani: fed president thomas barkin sounding different than what we heard from harker.arker says he might be at the week to stop embarking not ready to call that -- and bargain not ready to call that yet. this week's historic treasury debt auctions follows trepidation from last week when the sizes were announced and the top expectations. we have a three year auction yesterday that produced lower-than-expected yield. demand was stronger than anticipated. today, we get more duration out there. $38 billion of new 10 year notes. let's get to mark cranfield joins us. first of all, we were talking about me slacking a faye and i want know that mark cranfield is currently at work at home despite the fact that is a holiday in singapore. thank you so much. second of all, what are you expecting on the 10 year option today? what should you be looking out for despite should be on holiday today. mark: it's going to be much tougher than the three-year yesterday. it would have been much easier for the 10 year last week when it was trading around 4.2%. that level most people would say i

"today in the bay"'s bob redell joins us from outside harker school in san jose. do we know what happened at this point? >> reporter: we're not 100% sure. good morning, kris. we know a child did drown or almost drowned at the pool at harker school behind me here on saratoga avenue not far from 280 in south san jose. the child was a student in the summer program school, yesterday someone found the student unresponsive in the pool on campus. a nurse performed cpr until paramedics arrived. the child was taken to the hospital. his or her condition unknown. not yet clear how this happened. the head of the school says the entire community is heartbroken, the school released a statement that reads, in part, we continue to send our thoughts and prayers to the family and are focusing on their needs and respecting their privacy. we are providing counseling services for campers, students and staff, and we have canceled summer camp for the rest of the week. if you're not familiar, the harker school is a nonprofit k-12 school that was founded back in 1893, and according to its

the rates are up today i'm not sure if the market, and maybe it had nothing to do with harker i don't know maybe it's this fear of a more hawkish speech coming out tomorrow, remembering last year the powerful eight minutes which sent the market over the next couple of months to the lows and just worried that the fed is just going to go too far this time around. at the same time you're getting pmis and leis and everything under the sun with an acronym on it that's not that great looking right now for the global economy. >> reporter: i will point out that the atlanta fed thing is running 5.8, i think they went up on the data so the u.s. economy looks to be doing pretty good right now relative to declining inflation rate, low unemployment and fairly strong gdp growth i'm not going to tell anybody not to worry about the fed i will say this, i don't think powell has any reason to be quite as hawkish this year as he was last year. last year he laid down a marker. it was an important speech to give it said we are serious he was trying to maintain and enhance the fed's credibility of inflatio

this happened at the harker school, a high-end school in san jose. sj pd not releasing many details other than the circumstances around the event. administrators say the girl was a student at the summer camp program. on monday the school nurse found her in the pool and performed cpr until paramedics arrived. she was then rushed to a hospital. we are told today that the little girl died and that summer camp at harker has been canceled for the rest of the week. >>> when we come back, challenge accepted. ron desantis has agreed to debate gavin newsom. >>> how oakland rapper is helping students deal with helping students deal with mental introducucing togo's's new frech dip p sandwicheses. feataturing fresesh artisan n d piled hihigh with tendnder roast b beef, smothered d with meltyty provolonone cheese,, just enougugh chipotlele mayo and d served witith hot au j for dippining. try ththe roast bebeef or pasti french d dips today.y. onlyly at togogo's. >>> it will likely be a wild afternoon tomorrow with president trump facing a judge in a washington, d.

patrick harker takes a dovish stance >> i'm in the camp of let the restrictive sense play out for a whilethat should bring inflatio down >>> stop the clock shares and watches in switzerland plunge after rolex acquires the company. >>> and donald trump surrenders in georgia fourth arrest in five months as he poses for the first ever mug shot of the first former u.s. president before posting bail. >>> happy friday warm welcome to "street signs. let's have fresh efo numbers the climate index number has come in at 85.7 for the month of august that is below 86.7 in terms of current conditions, the index has come in 89 in august the reading990 the more forward looking component here has come in at 82.6 in august against consensus of 83.8. the he can expectation index ist of all for the month of august we are going to come back to this data in just a few moments. we will speak to the head of the ifo survey department in a few minutes. >>> julianna, let's see how the markets fared. despite the green on the heat map, it wasn't pretty for wall street and asia. markets lost a bit of ground in the la

patrick harker says we have done enough. what are the other conversations?ink there will be two things to watch. the first is christine lagarde is speaking today. the head of the ecb. that speech will be interesting. inflation has not just been a u.s. phenifphenomenon, but it i global. the response has been similar world over. i think what she signals about the ecb is done or needs to do more is interesting. another thing we are hearing from patrick harker and everybody here is the question about how do you know when you have done enough? he was clear on his interview with you yesterday that the moment to pause and wait and try to figure out the data coming in and assess what is happening next. i think around the world, we are doing that for the next couple months. what ware the markers that make you feel good and confident that the inflation will come down. that will be a point of conversation. >> jeanna, we saw the selloff before the close yesterday on the anticipation of what jay powell would say. is this as big of an inflection point? we have jobs report

the incident happened yesterday at the harker school. this is off saratoga avenue in west san jose. the child was taking part in a summer program when someone found the student in the campus pool. the child was taken to the hospital but did not survive. investigators are now on this case. the harker school releasing this statement to us, saying in part, quote, our lifeguards performed cpr until the paramedics arrive. we continue to send our thoughts and prayers to the family and are focusing on their needs and respecting their privacy. the school also canceled the remainder of summer camp. >>> here's a story that continues to unfold. a bay area district attorney is fighting to keep her job just seven months after being on the job. embattled alameda county d.a. pamela price is facing a recall effort. similar to former san francisco d.a. chesa boudin, her critics accuse her of being soft on crime. now a former prosecutor in her own office is questioning her decisions about charges in a high profile cold case. the case is the disappearance of 9-year-old michaela garecht in 1988. garech

i can't predict that right now. >> patrick harker yesterday.obert kaplan joins us talking about what we might hear later on. good to have you. i imagine you don't expect the chair to be as declarative as harker was yesterday. >> no, no, i think he's going to try to be neutral, say progress is made, but the job's not done, and keep his options open, be agnostic about what they're going to do next. and there's a bunch of cross currents that are going to create a lot of debate through the fall. manufacturing's weak. anything interest sensitive is weak. it's hard for small business to get a loan right now. china's weak, as you guys mentioned. however, you've got substantial government spending, inflation reduction act, infrastructure act, unspent resilient, and so these cross currents are going to have to sort through the fall. the other thing that's going on, which i think you also mentioned earlier, is the back-end of the curve rates are backing up. that's a tightening away from the fed. so if i were at the fed i would want to observe that carefu

makes it for the fed easier, harker being our hero today. why not? covered s&p up 480. >> we missed - >> warehouse. >> chegg. >> chegg up 3. >> victim of generative a.i. >> they have their own generative a.i. >> they have it. but the quarter that was where they got - >> i think - [ inaudible ]. >> jim, we'll see you tonight on "mad money." 6:00 p.m. eastern. when we come back, charlie ergen, merging dish and echostar as the markets are in sell-off mode the market is down 375 now erge >>> good tuesday morning welcome to another hour of "squawk on the street. i'm sara eisen with carl quintanilla and david faber. we are live for you at post nine of the new york stock exchange take a look at stocks here in the early action declines we're down 358 on the dow. the s&p 500 down a full percent as well, and the nasdaq under performing as it has been as we've seen these rising yields over the last week and a half down 1.25% this comes after yesterday's rebound in stocks. 30 minutes into the trading session. here are three big movers we are watching for you rig

we will hear from patrick harker and loretta mester and austan goolsbee jay powell will speak on fridayrest rates are expected to top the agenda as well as inflation. i'm happy to say david henry is joining me good morning, david. you know, if you fast forward, not fast forward or rewind back to inflation levels at 8% or 9%, it was straight forward for the fed chair to say we are resolute to fighting inflation and bring it back to target. now with inflation at half of the levels and heading in the right direction, the message is more fine tuned. what are you looking out for here >> thank you i think you are absolutely right. a lot of ways, his speech wrote itself last year the fed had to be open to bring down inflation and clearly the world has changed. there is really good progress and bringing inflation down. i expect to see him keep the language as open as possible i think he'll probably want to try to keep the debate away from whether this september meeting is going to be a pause or whether it is another hike and really try to put the discussion a lot further down the road. i think

harker is squarely in a dovish camp. valerie: also the market has a lot of attention on options coming out of the u.s.. we get the first one of this slate of auctions at 6:00 p.m. london time. it comes as we have $103 billion worth of treasury issuance in just three days. we get threes, tens, and 30's. it will be a test of duration appetite and a test of this treasury demand appetite. normally, markets don't focus that much on these treasury auctions but have come under so much spotlight after the pitch downgrade last week and the treasury announcing a larger auction size for the first time in 2.5 years. the big test of demand, especially when markets are this volatile is going to be a key thing for the direction for markets going forward. dani: we will get duration on wednesday and thursday. wednesday is the 10 year and that is bloomberg's valerie tytel. you can get a round up of the stories to get your day going in daybreak. terminal subscribers can had to dayb on your terminal. coming up, we will talk more about s

to pick up well in the us harker swing.you want confidence. number one thing in tennis players is the ranking and grand slams. looking at davis cup after her but i want first informant doing well at those tournaments. then we will see what brings davis cup. then we will see what brings davis cu -. ., then we will see what brings davis cu . _ ., ,, then we will see what brings davis cu -. ., ,, ., ~ then we will see what brings davis cu. ., ., ., " ., then we will see what brings davis cu -. ., ,, ., ~ ., ., ,., cup. leon smith talking to me about andy murray's _ cup. leon smith talking to me about andy murray's injury. _ cup. leon smith talking to me about andy murray's injury. that _ cup. leon smith talking to me about| andy murray's injury. that abdominal injury that puts questions about when he'll be back. that to come next month immediately and then following the davis cup final that happened straight afterwards. you'll be able to watch it on bbc iplayer from the 13th of september. we are going to end tonight... with wh

you had patrick park or -- harker -- >> can you imagine? there you are. liz: yeah. patrick harker coming out, he's the philly fed guy, president, he came out this morning and said that the fed may now be at the point where it can just -- well, he didn't use the word pause, he said hold steady on rates and wait to see what's going on. then, of course, you had tom barkin of richmond fed, and tom barkin says let's just be data-dependent, we need to wait. and we don't have another meeting, phil, until september. so we're getting thursday the cpi number and much more on inflation. >> and truth be told, oil being up a little bit means they're probably going to level are off. maybe -- i think they might if miss to the upside. maybe we'll come in with a number slightly higher than expected, and this number of 4% on the 10-year makes sense. to chris' point about interest-backed loan, private equity plays very well. we're seeing the loans discounted down to 90 cents, they're actually being cheapened, so you see some buyers. yeah, we'll get some defaults, but that's a normal c

a student at the summer program at the harker school in san jose was found unresponive in the pool.ire community is heartbroken. a nurse found the student and performed cpr until paramedics arrived. the child is at the hospital. his or her condition is unknown. it's not clear how this happened. the school releasing a statement, reading in part, we continue to send our thoughts and our prayers to the family and are focusing on their needs and respecting their privacy. we're providing counseling services for campers, student and staff and have canceled summer camp for the rest of the week. >>> a judge ruled that nina will stand trial. they showed the murder weapon, the knife that was found in momeni's condo. he cited self-defense, a claim that lee's ex-wife balked at. >> bob was a smaller guy. nima was larger than him. he could have shoved him, pushed him. bob was one of the most nonviolent men you ever would meet. very respectful. and was more loving. if there was an argument, he would prefer to handle it with words and dignity rather than violence. he would never -- i've never seen

tom: i don't think we talk enough about patrick harker, former dean of wharton.tant here, this guy is an operative thinking engineer. he understands manufacturing processes arguably more than any other fed official. jonathan: he is also really nice. tom: he is not a phd, academic type. we talked about williamsport, pennsylvania, little league. we should do another surveillance remote. jonathan: we can set it up for the election year. tom: diving into the bond market at the end of august. not a lazy summer week. we do this with ira jersey bloomberg intelligence. if we get a yield breakout higher, price down, yield up, three-month t-bill. the real yield goes back about 2%. what are the ramifications of a price up, yield down move? ira: the way that you get to that really matters. if we wind up with a bear market more than we have recently had, that shows the market is thinking that that will not make a policy mistake. the big risk now is the market starts to price for a federal reserve that ultimately hikes another time, maybe even two. we are not price for that ye

a student was found unresponsive at the harker school pool. >> it's a k through 12 college prep campus. san jose police as their homicide unit is investigating, which is standard protocol for all child deaths in santa clara county. the head of the school says a lifeguard in school nurse perform cpr until paramedics arrived. but unfortunately, it was not enough to save the child's life. we of course, update you as more information becomes available in the span of 15 year-old boy is dead after being shot in hayward. this happened last night around 10, 30 on tennyson road near the eden family youth center. officers arriving on scene and discovered 2 victims who had been shot. the 15 year-old dying at the scene. the second victim, a 37 year-old man is recovering in the hospital tonight with non-life-threatening injuries. the identities of those victims have not been released. and so far, no arrests have been made. another shooting has been reported on an east bay freeway. this time on interstate 80 just yesterday. >> near highway 84 chp says as of right now, they do not have a suspect. luc

the summer camp was in san jose at the harker school. they found her unresponsive on monday.eguards administered cpr and the girl was taken to the hospital. the san jose police department reported the girl died yesterday. police say they are still investigating how it is that she managed end to up in the pool alone. the summer camp has been canceled for the rest of the week. >> we are now getting a look at the man who police say vandalized a black lives matter mural that happened over the weekend. you see a man with a helmet holding a paint can in his hand and he threw paint on the letters. the mural was originally painted on the street in front of city hall in 2020 after the death of george floyd. just last month community members came together to restore the mural after it was defaced in 2021. >>> the california highway patrol is once again being tapped for more help to another bay area city and in desperate need of addressing a spike in violent crime. nbc bay area's ginger conejero saab said governor newsom is providing similar help to san francisco already as we reported.

. >> in the south bay, a student was found unresponsive at the harker school swimming pool. it's a k through 12 college prep campus. san jose police say their homicide unit is investigating, which is standard protocol for all child deaths in santa clara county. the head of the school says a lifeguard and a school nurse performed cpr until per paramedics arrived. but unfortunately, it was not enough to save the child's life. we'll update you with more information as soon as becomes available. >> a man is now facing an attempted homicide charge after police say he shoved 81 year-old woman to the ground. happened last week near franklin and myrtle in san francisco. the woman says a man walked up to her, pushed her off the sidewalk. police say she was knocked into a lane of traffic and hit her head on the road. police later tracked down the suspect with the help of surveillance video. 21 year-old curtis doubles is now facing several charges, including elder abuse and aggravated assault. as the cause of that massive building fire in san francisco's hayes valley continues to be in

now the turkish for administer harker. honestly don also said that anchor as working with moscow to resume the implementation of this green deal. and he said that turkey or wants to maintain its position as mediator throughout the ukraine conflict. and to that, in fact, he has a meeting lined up soon with the russian defense minister, sir. j. shy, go to land, diplomatic, helping hands to the whole situation. it will show, describe was incorrect with our relations with the russian federation have a long history time. we are 2 countries that know each other best in the region. we have a reliable channel of communication and work according to the principal of good intentions, was good as our dialogue is useful for our region. we will continue our meetings with a minister of rob and tomorrow i will meet with defense ministers. i do know that your foreign minister is also discussed. a number of other subjects like are continue in cooperation in strategic energy projects that both russia and turkey are have as well as normalizin

now, patrick harker, president of the philly fed and has been quite clear speaking a lot lately thate thinks the fed probably has done enough. he's not convinced of the soft landing. he said he does think it's possible to get there. and he thinks maybe the fed has done enough. so he's the one -- he's seeming to argue that he thinks at this point there are be a pause. he also talked about, hey, once we pause we're going to have to stay there a while. if everything comes in as expect t. >> that's a pretty big f isn't it? >> such a big f for just about every economy. catheline hayes. the bank of japan lose its grip has traders betting there the federal policy will helped in as little as eight months. let's talk to tara kamur irv a. >> it sort of feels like it is a lot of the equities is perhaps. programs we might have more runway than we might think? >> right. thanks for having me. actually the biggest change in terms of the messengering and policy stands of the b.o.j. is they start to alert. they start to be alert to the upside risks to inflation. that's why they explained that the twe

. >> police in san jose says student drowned at the harker school pool today. police say their homicide unit is investigating but they say that is standard protocol for all child deaths in santa clara county. the head of the school says a lifeguard and a school nurse performed cpr until paramedics arrived. the edge of the student hasn't been released. effort to try to save the child was not successful. >> a local christian missionary group is stuck in niger after a government who their conference ella sogomonian is in the studio with the latest on efforts to bring them home l a. >> well, catherine politicians are said to be working around the clock to get them back home safely. while family members wait anxiously for an update. >> a missionary group from cornerstone christian school in antioch took off on july, 20th for nigeria's capital city. niamey. they were supposed to be back by now, but all 15 people are still stuck abroad after who took over the government grounding flights. school principal logan higher says his wife and daughter both a part of the miss

then patrick harker reiterated the fed has probably done enough tightening, but on the other hand james bullard telling us and continuing the hawkish note he left on last week that the fed may not be done with the hikes. >> re-acceleration could put upward pressure on inflation, stem the disinflation we are seeing, and instead delay plans for the fed to change policy. lizzy: i suppose the compromise between those three positions is high for longer rather than higher for longer. what are you listening for later from jay powell? jill: you hit it earlier, if you have data dependent on your bingo card for what powell will say, you probably hit it. he has emphasized this idea to look out for what the data is telling us on their decisions going forward. this is a tricky one for powell. we remember jackson hole last year, powell was incredibly blunt about the need to control inflation. we knew what the cycle would look like at that point but we are in this period where it has become this issue of debate over how you handle these high rates, how long you keep everything for, what you need to lo

pair of fed speeches this afternoon from atlanta fed president bostic and philadelphia fed president harker let's get you ready for the trading day ahead. futures are big. dow jones industrial average implied higher 181 points and nasdaq higher 108. if you look at the trade so far this year, growth versus val, no doubt, growth is winning out etf up 28% value up 6%. that gap is slightly narrowing a bit. it is pretty wide for the year are things changing? value sector like energy over tech over the last month here we have seen energy start to out perform technology on the near-to-medium term basis. could a reversal be happening? if you want another sign that momentum trade is slowing down for technology check out the semiconductor etf. it is up 1% in the pre-market trade. over the last year, 27%. you can see here where it closed below the 50-day moving average for the first time going all the way back to mid-may. could there be a reversal in the making right now we don't know. let's bring in greg serian founder of 213 strategic partners greg, i noted the mostmentum indicators right now are yo

patrick harker and tom barkin before the opening bell. >>> futures are pointing to a negative start dow is down 160 points in the pre-market let's bring in jeff kleintopp at charles schwab >> thanks for having me on, frank. >> we have seen a lot of disruption fitch downgrade and vix moving higher we see mixed results with the different indices. what do you expect today >> today, we have a number of currents data from china which is disappointing on imports and exports which is setting the tone for global markets. the cardboard box recession continues. anything in a box for shipping is in a recession right now. that is weighing on the global economy. we see pmi weaken for services it is starting to soften up. maybe the recession is coming out of the box and spreading into services. we will learn more today from the companies reporting. >> you are leaning into the fact that u.p.s. is reporting before the bell you mentioned a slowdown in shipping is u.p.s. a potential market mover with the insight into the state of the consumer and what they are buying online >> to the extent the guidance

patrick harker has been for a long time suggesting we are almost at the point where we can pause and see if we need to assess what rate hikes. he is doubling down on that. i think he said the fed may be getting to the point where it can hold policy, assess the data, see the effect of rate hikes. he is firmly in the camp of seeing a chance of a stop -- soft landing is good and is also saying once the fed gets to the point where it is ready to hold policy study, the fed will have to be there for a while. however, later in the day when he was speaking while he said he did not see an immediate rate cut after the fed goes into the hold, he does think our next year if inflation is starting to come down, the fed could be cutting rates. one more thing not on the table yet, we have seen this data out of china. the exports plunging. the weakest exports for china the second largest economy in the world, the second weakest since the great financial crisis. there's a lot that could happen not just on the imports on inflation and jobs but the global economy as well before the september decision. >

you had people come out, notably pat harker yesterday coming out saying we don't need to raise rates others like the fed governor michelle bowman saying we do need to do more hikes. so they are famous for the different descriptors they use. many or most officials thought this or that. we will be king in first and foremost today on the line that may be fleshes out the numbers a little bit more and gives us the size of the relative size of these two camps on the committee. alix: if that is the case, matt, good to see you, by the way, what do you think the data we have gotten since the last fed mating -- meeting may have changed the dynamic we will hear about today? matt: that is kind of the other big thing in the background, right? a lot of the data we have gotten since the july fed meeting have been broadly positive on inflation. we got lower inflation numbers. on the wage growth side that we know the fed is really keen on we saw the celebration in things like the employment cost index, the unit labor cost index. another thing we will be looking at in the minutes is trying to see what

we're getting collins on the tape remember what harker told steve last week about waiting for these hikes to work their way into the economy the lag is pretty significant. now you got bostic sort of echoing that >> i feel policy is appropriately restrictive. i think we should be cautious and patient and let the restrictive policy continue to influence the economy lest we risk tightening too much and inflicting unnecessary pain. that does not mean that i am for easing policy any time soon. >> he goes on to say, underlying inflation may well be close to our target already >> that's about as dovish as it gets, though, and he's a nonvoter, so take it with a grain of salt, but yes, he has been known to be out front and sway some of the opinions on the federal reserve. i think the close call is now going to be on november. do they feel they need to hike again in november, or are they feeling like bostic is feeling let's see what the lags look like we're starting to really see some economic weakness, nothing pronounced in terms of recession or anything, but we know the lags can be long and varia

i'm not on the committee and some of the rhetoric including recently from john williams and pat harker have indicated that they're receptive to the idea that they could be done. but inflation forecasting has not had a good track record in the last three to four years, including mine and although there's a case for forward-based policy, you know, right now, i think they actually, i hope they do look for inflation to come down durably and stay there and so i think it's too soon to declare mission accomplished >> although, rich, you were asked about a month ago about some of the market wages of a march cut. and you did suggest at least at the time that a cut in march or an indication that the march meeting would involve cuts makes some sense you still feel the same way? >> i do, and i'll tell you why under the fed's -- remember, the fed's base line projection at the june meeting had that additional hike in in the s.e.c. docs and under that projection, they had inflation, core inflation next year falling into the twos. so if we're sitting at the march meeting with core inflation on a year

. >> in the south bay as student died at the harker school pool. that's a k through 12 college prep campus. san jose police say their homicide unit is investigating, which is standard protocol for all child deaths in santa clara county. the head of the school says a lifeguard and a school nurse performed cpr until paramedics arrived. but unfortunately, it was not enough to save the child's life will have more information pass on to you as soon as becomes available. >> a teenage boy is dead. a man injured after a shooting in hayward happened about 10, 30 last night on tennyson road. i'm not far from the even family youth center. the 15 year-old boy died at the scene of the second victim. a 37 year-old man taken to the hospital. there is no word yet on a suspect. >> as the cause of that masking building fire in san francisco's hayes valley continues to be investigated. neighbors are calling on city leaders to do more to stop what they're calling an ongoing arson problem. firefighters still working to determine what caused this fire. but a neighborhoo

on thursday morning with philly fed president patrick harker what i want to know is what is the storyinflation coming down, unemployment still tight, how does it affect policy. >> gentlemen, thank you very much steve, steven auth, mike, thank you very much. we appreciate your time today. that does it for this edition of "the exchange. courtney reagan is getting ready ea the other side of this quick brk. i will be joining her in just a moment fficient? i'm listening. well, with ibm, you can use software to help you connect and analyze data— from hvacs to elevators to lights. what if we use ai-driven insights to pinpoint inefficiency? yep. and act on it. saving energy, money... ... and emissions. yup. that's a big one. now you've built something better for everyone. that's the sustainability solution ibm and a global real estate company created. what will you create? ibm. let's create. my cpa told me i wouldn't qualify for the erc tax refund, so i called innovation refunds. their team of independent tax attorneys will work with your cpa to determine if your company is eligible. [whip so

steve will be in jackson hole interviewing patrick harker and others. >>> now let's shift to china, where country's central bank has been stepping up support for its currency this week. some are fearing a lehman moment in the country's financial system. the fundamentals looked worse and worse. the country announced a second rate cut in three months, and chinese evergrande files for bankruptcy protection last night. my next guest says, take a deep breath, the concerns are all a bit overstated. all right, nicholas, welcome. give me some context here, what is your reaction when you see china head into a possible lehman moment here? >> i think it's a bit overdone. they had 6.3% growth in the second quarter. and i think the economy is doing reasonably well. they have some difficulties coming out of the covid recession, but there are a lot of positives here. imports are growing stronger than they were a year ago, which suggests underlying demand is bigger than a lot of people are saying. people are talking about inflation, but if you strip out food prices, consumer price inflation in july was u

a student in the summer program at harker school in san jose was found unresponsive in a swimming poolhead of the school says the entire community is heartbroken. a nurse found the student and performed cpr until paramedics arrived. the child is in the hospital. his or her condition is unknown. it's not yet clear how it happened. >>> we are not yet done with covid. cases are on the rise in san francisco, but there is another booster coming to help fight it. according to the city's public health website, the current seven-day average of new cases in san francisco is 38 as of july 24th. of course, that's far lower than what we saw in the last three years. but it is a reminder, doctors say, that the omicron and its subvariants are still around, so keep yourself safe, make sure you have a paxlovid plan, know if you are taking any drugs that might interfere with paxlovid, and carry a mask in case you're in a risky situation. there will be a new booster coming next month. >>> let's get a look at our forecast for this wednesday morning with kari. >> we're starting out with clouds around the b

. >> in the south bay, a student was found unresponsive at harker school pool which is a k through 12 college prep campus. san jose police say their homicide unit is investigating ms, which is just standard protocol for all child deaths in santa clara county, the head of the school says a lifeguard in a school nurse performed cpr until paramedics arrived. but unfortunately, it was not enough to save this child's life. a nationwide fbi led effort to rescue victims of human trafficking. >> he's meant saving 200 people and the arrests are citing of more than 5 dozen suspected traffickers. operation cross country first launched in the bay area. 13 years ago. and it has since spread kron four's. philippe djegal reports several victims were recovered here locally. >> operation cross country just wrapped up ending with few or human traffickers on the streets and victims who survived exploitation. now on the road to recovery, goal is to stop predatory behavior. temps are predators. the san francisco division of the fbi joined the alameda and contra costa county district attorney's offices in

the student was found in a swimming pool at harker school in west san jose yesterday. emergency medical aid was rendered on scene and the juvenile was taken to the hospital in critical condition. we learned just today the child did not survive. the death is being investigated. a mural has now gone up in oakland to remember oakland native and actor angus cloud, who died this week at the age of 25. the actor got his big break in hbo's euphoria after attending the oakland school of the arts. his family confirmed on july 31 that he died in their home in oakland. a mural is on east 19th street in park boulevard. it includes a black and white portrait of cloud and colorful words of remembrance. people have been leaving flowers at the mural in his honor. sheriff deputies near tampa, florida, carried out a daring water pursuit of a speeding unmanned boat, and it was caught on video. the person who had been piloting the boat fell into the water and was rescued by a good samaritan. deputies from the sheriff's office were able to eventually catch up with the boat. deputy jumped o

it happened during a summer program at harker school in san jose on monday.urse found the student and performed cpr until paramedics arrived. the child is now at the hospital, though his or her condition is unknown. and it's not clear how this happened. the school released a statement reading in part, we continue to send our thoughts and prayers to the family and are focusing on their needs and respecting their privacy. we are providing counseling services for campers, students and staff, and we have canceled summer camp for the rest of the week. >>> former president donald trump is facing a new indictment, all related to alleged efforts to overturn the 2020 election. this is the first time in u.s. history a former president has been charged with trying to win over an election. prosecutors say he tried multiple strategies to remain president even after he knew he lost the election. >> trump's attorney is speaking with "today" show's savannah guthrie. he argues this is the first time the first amendment has been used to criminalize speech. he says the indictme

the student was found in a swimming pool at harker school in west san jose yesterday. emergency medical aid was rendered on the scene and the juvenile was taken to the hospital in critical condition. we learned today, though, the student did not survive, the death is under investigation. on wall street, stocks had their worst day in months. the dow lost 348 points. nasdaq dropped 310, more than 2. and the s&p was down 63 for its sharpest drop since april. a stronger than expected jobs report is leading analysts to anticipate another interest rate hike by the federal reserve coming up in september. treasury secretary janet yellen reacting today to a credit downgrade for the us. fox's mark meredith reports now from delaware, where president biden didn't respond to questions, but his campaign team pointed the finger at republicans. mr. president, are you concerned about the downgrade? president biden ignored questions about the us economy one day after fitch ratings downgrade america's credit. the credit rating agency says the change comes ahead of, quote, expected fiscal

that student was found floating in a pool at the harker school on monday.s a k through 12 college campus. the head of the school says a lifeguard and school nurse performed cpr until csrrived. the student was taken to the hospital in critical condition, but did not survive. police are still investigating the possible drowning. we will bring you any new details as soon as we receive them. the cause of the massive building fire in san francisco is still under investigation this afternoon. but residents in the area say they've been warning the city about nearby tent encampment fires for months. kron four's michael thomas has the very latest. >> crews have been here on the scene trying to deconstruct what's left of this construction site. take a look at was supposed to be an apartment building before it burned down. and this is at the corner of oak street and octavia boulevard in san francisco's hayes valley neighborhood and the neighborhood association says they fear this type of fire for months. yesterday's massive fire took place just before 06:00am and clos

but police in san jose state student drowned at the harker school pool yesterday.ay their homicide unit is investigating which the standard protocol, all child deaths santa clara county. the head of the schools as a lifeguard and a school nurse cpr until paramedics arrived fortunately was not enough to save the child's life. well, hundreds of workers from fast restaurants across san jose went on strike yesterday, demanding better wages, benefits and safer working conditions. and they're also has a law makers to help them with wage theft violence, harassment, unsafe working conditions. >> don't feel like i wasn't being her. i know that you a lot of emotional stress. we've got to work very hard to make sure the customers get the best experience to get the cool going and you know how help them just up and we don't get paid well enough, especially with the expenses over here in ot on by the food to gas, to rent and everything. and we're just getting paid like 17 an hour. like a 10 hour. and it's not really enough to cover expenses. >> we reached out of the city of san

chair bill dudley out and he's worried and the only one yesterday saying we're fine is philly's patty harkernd remains a confusing landscape and i think jj powell will stay just to the right of senter and remain hawkish. if he does anything that suggests he's doveish, the market will say rate cuts are coming. look at this and take the market higher, exactly what he doesn't want to happen. david: we have a hint of what jj's going to say. i'm going to use the jj moniker. i like that, kenny. stay right there. edward lawrence is with us. edward. do you have any inclination as to what it is that jj's going to be saying today? oh, edward's not there? okay. very quickly then, kenny, coming back to you, nvidia, tell us what's happening with nvidia because you wrote about it today. go ahead. >> i wrote yesterday too. nvidia was so priced to perfection it created so much hype around what it was going to do and listen, he came out with great numbers, he came out with a great forecast but look, nvidia is up 200 some odd percent and had a beautiful run and i think it's going higher over the course of the

here's the thing, philly fed president harker he says he is willing to pause. bowman, she is still looking for more evidence of inflation. she shea it is tamed. want to bring in danielle dimartino booth. we on team bowman, lori bowman, lisa cook, christopher waller, man named jay powell. who will win this battle? charles: jay win the battle if f 22024. three dissented. he is prepared to dissent because he wants to maintain the higher for longer stance. charles: he is the most hawkish one in your opinion? >> in my view, he can't really come out just saying that but i really do think this is his mission. charles: we have some people, i remember when they first started hiking, fed started hiking rates here, they went crazy like this, my question when will they stop? the answer i got from a lot of folks when fed fund rates are higher than core inflation, we're there now. is that a signal then to at least pause? >> we're technically restrictive, running restrictive policy. so there is a signal to pause but by the same token the minutes, the minutes stated that a lot

meanwhile, in the south bay, police in san jose say that a student drowned at harker school pool yesterday. police say their homicide unit is investigating which is standard protocol for all child deaths in santa clara county. the head of the school says that a lifeguard and a school nurse performed cpr until paramedics arrived. but unfortunately, it wasn't enough to save that child's life. >> looking at hundreds of workers from fast food restaurants across san jose on strike yesterday. they're demanding better wages benefits and safer working conditions. they're also asking lawmakers to help them with theft and violence and harassment and unsafe working conditions. >> we don't feel like i wasn't being her. i know that you a lot of emotional stress. we've got to work very hard to make sure the customers get the best experience and get the cool going and you know how help them just up and we don't get paid well enough, especially with the expenses over here down by the food to gas, to rent and everything. and we're just getting paid like 17 an hour. like a 10 hour. and it's not really enoug

on the back in terms of where fed policy has not pushed us into recession >> it was interesting, harker's comments, you would think what the bulls would want to hear, we've done enough, let's give the economy time to absorb these hikes, didn't really help today. >> it didn't tim makes a good point about positioning, and it's summer, it's been a long summer, it's been a long year in the markets here, if you think about it. a lot of folks would love to see a sort speech, not rattle too many feathers. but we said this a lot on this show, a raging stock market, a couple weeks ago, doesn't make the fed's job that much easier when you see the unemployment prints, you know, the first friday of every month at, like, 3.5, 3.6, doesn't make the jobs -- the fed's job that much easier, so, i think, to me, you know, nice, good old fashioned 10% pull-back in the s&p 500 does make the fed's job easier if economic conditions have been pretty good for the most part, i think a stock selloff might basically give them a little bit of wiggle room, but when the market's raging and there's a mania in the stock

. >> harker concerned about the economy saying , his business contacts adjusted consumer slowing and loosening in the job market. share powell made some of that outlook in his speech. almost certainly, he will suggest the risk of balance work when the fed met a year ago and gave that speech everybody still talks about, about the need to bring down inflation. inflation though, has fallen sharply since last year. the unemployment rate has not wedged. growth is running above trend. we have a 2.4% trailing, but running 5.9% over that exaggerated atlanta fed gdp. we got to listen closely to martin powell and see if the strong growth numbers are reason for tighter policy and let that work through the system at in route to an eventual economic slowdown. it is clear, kelly, the inflation numbers does not need to be as hot as last. he could suggest this years are more balanced now. >> any scuttlebutt? normally, i would say in the hallways, but on the lake? what are people whispering about were expecting, do you think? >> i would say that the issue of the strong gdp numbers and inflation comin

. >> say a student drowned at the harker school pool yesterday. police say their homicide unit is investigating, but that's standard procedure for any child that dies in santa clara county. the head of the school says that a lifeguard in the school nurse performed cpr until paramedics arrived. but unfortunately, they were unable to save the child's life. >> 5 people has been arrested in connection with a million dollar robbery from heller jewelers in san ramon. that store located in the city center, bishop ranch mall near 6.80. it was robbed in march of this year and investigators were able to track down the suspects through a stolen rolex watch that had gps and they say they're still looking for one more person who was involved. >> well, 10, 0, 9. let's get back to the north bay now where a mountain lion was spotted up near petaluma. yeah. and there's a warning for you to look out for and whole area and to fight that covers. tiffany justice has details. another spotting of a mountain lion this time in petaluma petaluma police spent many hours thi

the bay area news group, the student was found in a swimming pool during a summer camp program at harkerchool in west san jose. the school says the student was participating in a swimming session with lifeguards on duty when they were discovered. staff performed cpr and rushed the student to the hospital. we don't have an update on the student's condition or any information about how old that student is. alameda county supervisors have voted to reduce the maximum possible jail time for people who attend and watch sideshow sideshows. the original ordinance had said people within 200ft of a sideshow could be fined $1,000 and sentenced to up to six months in jail. but supervisor was later reduced the jail time to three months. the law goes into effect one week from today. there's still questions about its legality since the first amendment does allow people to stand on public streets even if they are watching something unlawful. taking place. the process to hire a new permanent police chief in oakland is underway and city leaders want to hear from the public. the oakland police commission h