rates should be higher and a long way to go to get inflation down to 2% let's bring in josh wein at hennessey funds. >> good morning. >> we are talking about jay powell and we had ecb president christine lagarde saying similar comments with inflation too high hawkish central bank in europe and hawkish view in the united states how does this move us forward? >> it is true. in the uk, food price inflation is 14% or 15%. their issues are beyond ours the market or the fed has told the market that we are serious the market is saying we get that, but we still think you will be done soon. there has been a reversal. the fed funds implied 70% chance of a hike in july. the market takes it in stride. it is realized volatility at low levels i think we talk about volatility all the time like it is always present. we are not seeing that right now. i think that it might be implied, but not realized. everything is priced in to a large degree we talk about the fed a lot and for good reason. i don't think it is having an impact >> we are talking about the fed a bit and central banks in general. i know you are

part of the spinal cord of the constitution and the words of the constitutional historian the lord hennesseyd on the day the report was published that, and i quote, this is a dreadful day for mp5 and democracy. but in fact, mps and democracy. but in fact, the reverse is true. it was a day which saw british democracy vindicated it against unprecedented attacks. but i want to be very clear that our democracy is fragile and there was nothing inevitable about this particular outcome. i think the shows that are good chap conventions of government allowed a road a prime minister to run them off for far too long —— robe prime minister. it also does shows the different mps, long —— robe prime minister. it also does shows the different mp5, or prime minister, deliberately lying and undermining the processes of this house, they can be held to account. i say can be and not will be advisedly because this inquiry had to be fought for. there was nothing guaranteed about it. and because our standards system are still not fit for purpose. i think it is both negligent and dangerous to assume democracy is ine

driver's been injured after their car fell about 50 feet down an embankment here happened near lake hennesseypa county. about 05:30am, tonight. cal fire says the driver who could get out of the car on their own head. minor injuries. >> alameda county supervisors are approving a new ordinance. it is aimed at curbing sideshows by targeting the spectators that ordinance banned spectators from both side shows and street races. violators could be fined up to $1000. they could end up even doing jail time. supporters say the new measure will reduce the appeal of sideshows and give police another tool to try to crack down on the dangerous activity. critics argue the ordinance is not specific enough and give said police too much power in deciding who is and is not a spectator. >> for your money tonight, a new california law requires oil companies to explain surges in gas prices on a daily basis. and independent watchdog group will monitor companies for any price manipulating profit margins will be checked for any sudden spikes in prices for drivers, the laws in response to last year. surgeon prices. t

fighting then we ♪ ♪ you're my only type yeah mixing bad decisions up with one night stands ♪ ♪ and hennessey i wake up when you come back ♪ ♪ i'll be waiting i'm missing you there's something ♪ ♪ you're not saying when you come back i'll be waiting ♪ ♪ is it someone new ♪ ♪ i'm missing you ♪ ♪ is it someone new ♪ [ cheers and applause ] ♪ >>> this is "nightline." >> byron: tonight, "titanic" tragedy. debris from the missing sub found near the famous shipwreck. >> the debris is consistent with a catastrophic implosion

these by william hennessey who was in the courtroom along with garrett, the hottest ticket in the country for journalists. what you see here is the courtroom artist version of this defendant in a federal courtroom. we're told he was referred to as the former president, neal. different than as the citizen defendant in new york. a federal building with federal officers might be more familiar to him and his team. taking notes today in his arraignment. is this justice department where you long served -- has done what it would not even under rule be allowed to do for a sitting president, which is follow tacts and evidence and for the first time indict a former president. what does that mean for america tonight? >> first of all, the justice department's policy, which goes back to 1973, is a sitting president can't be formally indicted. you can still investigate the sitting president. indeed, that's what happened with mueller but then barr went and truncated the rest and said you couldn't indict because sitting presidents couldn't be indicted. those memos, the moment a president leaves office, y

24,000 confederate soldiers under the command of right flank, and severing pope's supply line, john hennessey thank you for the maps in this presentation. if you recognize these if you've been through returnable run, but this is a great move. great illustrating. again, jackson's movement around pope's army striking the manassasoad or following really the path of the manassas gap railroad. and then down to bristow station, of colee divided his in half by doing this. it was risky maneuver, but it was one that lee felt he had to take. it wasn't one that lee didn't have certain safety valves built into as well. but now, come the night of august six, john pope had found himself in a very situation and quite a reversal of fortunes from just a few days prior. john pope learned about trouble up rail line from his headquarters at warrenton ere you can see that picturee of john pope when he got most of down along the ppahannock river. and you can see the cluster of red in the area of bristow station and just up the from there, manassas as well. one of the things the confederates failed to do, they occu

he colleague dan hennessey planned to present last quarter performance in person, but dan you have covid, so covid is still a thing so joining remotely. if we reflect upon the last 8 years of the relationship with allen and nepc is a transform ative period. when we began working with nepc we had 50 percent in public equity and 25 in (indiscernible) between real estate and private equity. but i want to thank allen and nepc for council leadership and support over a transformative period for sfers. transformative in terms of asset allocation and implementation. sfers added absolute return and private credit and made substantial restructuring changes to the composition of public market portfolios. transformation evidenced by discussions earlier, but transformation of complenshty and sophistication of the plan. we migrated to a new custodian, introduced plan wide leverage, reinstated securitylanding program and allen in particular was helpful to all of us in helping to navigate some of the issues ultimately lead to the establishment of our esg program just over 5 years ago. most importantly,