to the jigsaw, from brilliant, i think she was the missing piece to thejigsaw, from my team with hope powella former player, who experienced the women's game, knew where it came from, and i always felt we needed a manager to take over from her, from, and i always felt we needed a manager to take overfrom her, that was, has been there and done it in the women's game but also, won something and sarina has done that with the netherlands, if you look at during my career the netherlands were on par with england land in their development and very close fixtures and contest, if anything we edged it over them and she went and changed that team to become a winning team, so often for me it was the last few inches in her heads as players of believing that is possible and having that coo kind of attitude that the americans and germans are so a captive and used to having a culture of win, it was about that, i think she was that missing piece going to the your rose and it was almost perfect because she has seen are from a player's point of view, you know she has made it happen in another country ands host

there's stability in the banking system we'll get more information at 4:30 today and 4:15 tomorrow i hope powell is right that there's stability. t >> he also said, the fed chair, that conditions have improved in the banking system. >> look, i've been -- i'm being very critical of him today i want to be respectful of what steve just said. i don't need information on the bank i can see it in the market i can see a three-month to ten-year is out to 1.99. i can see that gold is trading at an all-time high. >> the resteepening of the curve as well. >> the market is saying the economic contraction is going to unfold faster. look at the cdx market high yields, dead issue, all backed away today. they all backed away as i said before -- i don't know if steve knows this. what are the policy options to respond to the stress in the regional banking crisis? >> steve, leave us with this thought because he did kind of double down on the idea that they can deal with everything, right? they can fight inflation while dealing with the regional bank fl flare-ups. he was almost dismissive of the staff calling for a

liz: yeah. >> everyone hopes the fed rescues everybody by lower rates again. i don't think sway powell will be nervous. liz: liz peek, thank you so much. to in tomorrow night, "fox news sunday" host shannon bream, and much, much more. thanks for watching "the evening edit." time for the bottom bottom. what a day. still looks like we're in a banking crisis, you guys

regina powell is hopeful that lebron is thinking about the 50 points that curry scored last game. >> sort of watching this interview, watch out, lebron. j.r.: resurrection is taking the warriors in sales. he estimates he has over 100 warriors jerseys, but loves his curry one. >> this one is my favorite. j.r.: sadly for dubnation, it appears as though crescendo will be l.a. >> while warriors fans are high-fiving, you guys will be like -- >> i will be doing this and screaming lakers. i will be somewhere rooting for my team. j.r.: are your friends use to you ranting on about the lakers? >> yes. anybody that knows me, one thing they will say is that kresc has never changed. i have been a lakers fan and i will always be a lakers fan. j.r.: all of the intensity is about to get real. dan: we are making it you to show off the bay area pride. you can share and post all of your warriors content by finding it on our abc 7 bay area facebook and instagram pages. >> this is bananas. we started to hear the booms from the gasoline tanks, and it was one after the other. ama: a sudden dust storm turns

jerome powell may not be able to do the things he is hoping to do. we have heard him say when we reached the rate plateau, he wants to hold it there. here we are, that's exactly in line with the dot plots. the dot plots only say rate cuts come next year, no rate cuts this year. the bond market disagrees. somebody is going to be right, somebody is going to be wrong. the equity market thinks the bond traders are close to the truth. yvonne: yesterday we had a robert kaplan in with us. he was calling for a hawkish pause. he says that is going to be the tough thing that is going to happen. inflation will be high and they will have a tough time cutting rates. i don't know how bonds will respond to that. i don't think that will be good for equities. i think there is possibly truth in that, it doesn't look like a good time for the economy or investors. mark: it's tough either way, the equity market is facing short-term interest rates around 5%. that is a high hurdle to beat if you are in equity investor. you could have a commercial real estate problems getti

regina powell is hopeful that lebron is thinking about the 50 points that curry scored last game. >> sort of watching this interview, watch out, lebron. j.r.: resurrection is taking the warriors in sales. he estimates he has over 100 warriors jerseys, but loves his curry one. >> this one is my favorite. j.r.: sadly for dubnation, it appears as though crescendo will be l.a. >> while warriors fans are high-fiving, you guys will be like -- >> i will be doing this and screaming lakers. i will be somewhere rooting for my team. j.r.: are your friends use to you ranting on about the lakers? >> yes. anybody that knows me, one thing they will say is that kresc has never changed. i have been a lakers fan and i will always be a lakers fan. j.r.: all of the intensity is about to get real. dan: we are making it you to show off the bay area pride. you can share and post all of your warriors content by finding it on our abc 7 bay area facebook and instagram pages. >> this is bananas. we started to hear the booms from the gasoline tanks, and it was one after the other. ama: a sudden dust storm turns

investor attention turns to the ecb after the fed announces its tenth straight rate hike jay powell then hopesent. >> we are much closer to the end of this than the beginning as i mentioned, you add a up al of the tightening through various channels, we feel we are getting close or maybe even there. >>> shell rallies after reporting a forecast meeting $9.6 billion net profit in the first quarter and revealing a $4 billion share buyback. it faces criticism amid the cost of living crisis. >>> airbus warns of supply chain issues, but reiterates the production targets as it posts a smaller decline in the fourth quarter. >>> and novo shares shed weight and the drugmaker has to reduce doses of the wegovy obesity drug as supply struggles to keep up with demand. >>> here is a look at european markets which are trading lower today on the big earnings day here in europe of course, we are continuing to digest the fallout from the fed decision to hike another 25 basis points yesterday it opened the door for a pause at the next meeting. today is ecb day a combination of earnings and monetary policy driving

chairman powell expressed some hope that we could still get a soft landing out there that is not where much of the fed is and certainly not where the fed's staff is, which is still forecasting a mild recession as he confirmed it's very hard to derail the underlying inflation without an increase in unemployment, more slack in the overall economy >> it feels like we're in a little bit -- whatever term you used earlier every time we see rates go up, it was all the newsroom chatter. so i just think it's worth pointing out even when things look all clear, under the surface it will be worsening some of the issues you were referring to >> that's all true at the same time, i can wake up and think you know what? this recession thing, i've been waiting for a recession and it hasn't happened. i looked at our survey, according to my very wonderful panel of people, among them is diane, we were supposed to have a recession by june. now they're saying september and it's supposed to be a negative quarter and it doesn't happen i have become humbled in my understanding of the dynamics any more if you ar

the federal reserve increased rates by another quarter point yesterday, hoping to further bring down inflation . fed chair j. powell says future rate hikes maybe paused if prices continue to come down. overseas more questions than answers this morning after an apparent drone strike on the kremlin in moscow. the russians claim it was ukraine targeting vladimir putin, but military analysts are not convinced abc is justin finch is here now with mark justin. good morning. brianna and good morning. the kremlin claims it was an assassination attempt on vladimir putin and overnight new airstrikes in ukraine as well. early this morning. air raid sirens blared throughout ukraine's capital key for more than three hours, authorities saying russia launched a complex airstrike with drones and missiles, but no casualties were reported overnight. it comes after russia claimed it stopped the drone strike on the kremlin in the heart of moscow. what it claims was an unsuccessful assassination attempt on president putin, who was not in the kremlin at the time. this is the first time that the war has been brought home to moscow. video

if we've learned anything, and chairman powell talked about it yesterday hoping the first republic resolution would bring confidence and find stability, i think what we learned now is this turmoil is still rolling. and i think it won't stop until we build some stability into the system and also i think it's remarkable is the regional banks have done very well. last night western -- not their stock prices, but western alliance last night put out an interperiod release saying deposits were up, they're executing on their plan to sell assets, building capital everything the market and investors should want, but that hasn't taken the heat off the stock or off the bond prices, by the way. the bond prices have been seeing turmoil as well. investors are very nervous i think what they're nervous about is the fact that silicon valley lost 75% of their deposits in 36 hours there's not a bank in the world that could really sustain that i think the market is trying to figure out what happened silicon valley had some idiosyncratic features, if it was going to happen, it could happen there but the market is

powell. couldn't leave it without comment. he asked, if anything, does not hope for the federal reserve.rves think that the fed can protect the economy from potential short and long term effects. account non-payments. actually. we should not even say we should not allow the situation in which the us government does not pay the bills, this will be a situation of maximum unprecedented and uncertainty, and thus the head of the fed delicately reminded that the debt ceiling is a problem for politicians and administration officials, but by no means a monetary regulator, but in the meantime , just the white house voiced a tough scenario default in the us is a drop in gdp by more than 6% loss of almost 8.5 million jobs, an increase in unemployment by 5% and a collapse in stock markets. approximately 45%. in such a scenario , serious negative consequences for the us economy may persist until early 2004. for years and beyond, in fact, the essence of all these comments and powell and the white house boil down to one simple idea to force the republicans in congress to accept an increase in the natio

and during a press conference, the head of the fed, jerome powell , could not leave this without comment. he asked, if anything, does not hopeor hitreserve. yes, he should not think that the fed can protect the economy from potential short -term and long-term effects. no bill payments. actually. we should not even say we should not allow the situation in which the us government does not pay the bills , this will be the maximum situation without precedent uncertainty that the ceiling of the national debt is a problem for politicians and administration officials, but not for the monetary regulator. in the meantime, the white house has voiced a tough default scenario for the us this is a drop in gdp of more than 6%, uh, loss of almost 8 1/2 million jobs increase unemployment by 5% and the collapse of the stock markets by 45%. here in this scenario, serious negative consequences for the us economy can persist until the beginning of the twenty -fourth year and beyond, in fact, the essence of all these comments and powell and white. at home, it boils down to one simple idea to force congressional republicans to accept an unconditi

powell. edward lawrence of foxbusiness. if the federal reserve gets down to 3% of inflation as the projections show, would it be ok for you for a prolonged period of 3% inflation and hoping for some outside event to move down to the two percent target? chair powell: we will also have 2% as our target and will be focused on getting there. reporter: would you be ok with a prolonged 3%? chair powell: let me say that is not what we are looking for. we are looking for inflation going down to 2% over time. i mean, we -- that's not a question before us. ultimately, we are not looking to get to 3% and then drop our tools. we have a goal of getting to 2%. we think it will take some time. we do not think it will be a smooth process. we are going to need to stay at this for a while. reporter: the other side of the mandate, the jobs side, how does it balance going from 3% to 2%? chair powell: they will both matter equally at that point. right now, you have a labor market that's still extraordinarily tight. you have 1.6 job openings for every unemployed person. we do see some evidence of softening in labor market conditions but overall you are near a 50 year low in unemployment. wage

let's hope we don't get into that environment. as chair powellhere really is not any alternative. we have to raise the debt ceiling. how congress is going to sort that out, the two parties going to have negotiations or legal strategies, i don't know. if you look back at times when we encounter these crises, there was in 2011, a dramatic drop in consumer confidence. you can see interest rate spikes. and i guess i still cannot get past what is going to happen. are we not going to pay the military, we are not going to pay social security? we are going to add on top of already the financial stresses about bank capital, that the safest asset in the world, treasuries, is going to somehow be questioned, the value of treasuries that we might default? i just think it does not make sense. if you think through the actual practical details of how it is nothing good about it. it would be really bad for the economy. i am just hopeful we do not get to that. geoff: we have about one minute left and i want to ask you about how the fed sort of navigates raising in

powell designed golf apparel in the famous british department store harrod's. today she runs clearview hope, a rehabilitation program for female war veterans. renee powell is an american icon and civil rights pioneer and she deserves to be recognized with the presidential medal of freedom. mr. speaker, i yield back. the speaker pro tempore: thank you very much. the gentleman from georgia, for what purpose do you seek recognition? >> i ask unanimous consent to address the house for one minute and revise and extend my remarks. the speaker pro tempore: without objection, the gentleman from georgia is recognized for one minute. mr. carter: i rise today to honor the life of jerry hogan sr. he was born in the old fort neighborhood of savannah in 1942. before his graduation from benedict een -- benedictine, he attained the rank of eagle scout. after graduating he went to the marine corps serving with honor and distinction before transferring to the marine corps reserve. he was a police officer on tybee island. he went on to become a stevedore at the port of miami. he founded m.j. hogan company and

hopeful that's the last. we believe they should pause i believe chair powell is going to keep his options open our biggest challenge is when you look at the leading indicators, they have declined by eight percentage point which is in any other cycle, would have been a signal to the fed to pause this is something that leading versus lagging indicators, what are their benchmarks, north stars? i think one thing he'll reference is tightening credit conditions we expect commentary about the reg regional banks >> david mentioned the labor market we got news earlier this week that job openings declined sharply. is that kind of to use the cliche, a canary in the coal mine that some of the effects of higher rate rs really beginning to dig into the economy? >> undoubtedly look, we're supposed to have a slowdown when the fed hikes rates. that's what we're seeing the thing that's been keeping the market somewhat afloat is that the labor market has been strong socompany earnings have been holding up okay it's only a matter of time before that starts to deteriorate. the question is how long and how deep that's going to gauge wha

if anything, jay powell is the reincarnation of paul volker and hope he doesn't have to hit us as hardus hard. i leave open the option that there may be a little bit more toward the end of the year they have to do but i think they really want to pause for a few meetings and watch how things pan out they've done a lot of heavy lifting already and they've got inflation and unemployment on trajectories that i think are quite comfortable. >> david, high yield bonds don't always do particularly well in a recession f there's a deep one, which you don't expect. >> that's true, david. i mean, you have to worry a little bit about it, but again, equities would be worse, right if you're in the senior secured part of the capital structure the equity has to get wiped out before you get touched, so you would much rather be there than in the equity market i think for us it's a way to tip toe back into the risk trade after last year being out of the risk trade and really kind of being unhappy with the idea that you want to sort of jump in to a fed that's going to jump into a market where the fed has t

hope would be a mild recession. liz: a lot of people said that not just jay powell. find out how the best of the best are trading through around that. joining us with $1.18 trillion assets under management, lpl financial quincy krosby, sullivan, investment strategist dan green house. how do you go forward if there is a shallow recession? >> you have to look at companies that have strong balance sheets. that is crucial. you have to have companies that have market share. the other part of it is that you have got to also include fixed income in your portfolio, investment grade. we wouldn't get carried away start looking at high yield because it is attractive. because of uncertainty. that is what this market today is telling us. it is uncertain. short duration, high quality, investment grade. also short duration treasurys. the fact of the matter you could also look, speaking of the bank sector, take a look at the preferreds. preferreds stock for the big healthy money center banks. they're offering very attractive yield right now as charlie pointed out, there is tremendou

hope they said,ur starring holly curry. both governments are represented by a succession theory able ministers and officials. they included from the uk lord chesterton mejia, sir michael warren called murphy, jonathan powellbill jeffries. ireland's, dick spring, davidfr andrews, sean, liz o'donnell, david cooney, tim o'connell and david donahue. special recognition must of course go to the leaders of the major northern ireland parties. jon q led the social democrats and david trumbull led the unionist party. without jon, there would not have been a peace process. back. [applause] without david trumbull, there would not have been a peace agreement. [applause] they were justly awarded the nobel peace prize. lord trumbull later served as the first minister of the northern ireland government. he was greatly aided by several officials gorge, lord jon taylor, lord ken mugginess for donaldson. in the stl p you received strong support from several talented leaders including seamus a brilliant orator and negotiator who later became deputy first minister rogers, sean. gerry adams the late led into and through the entire process. they were assisted by gerry kelly, barbara o'brien and alex who is now the speaker of t

noise out of capitol hill drives jerome powell i think it could be mainstreet banks and regional banks which are ready to raise the white flag and because what we hopet another banking crisis. maria: that's a great point that could be critical what the fed says about the future, will they signal we are done, we will be watching great to see you, to give a much, mark avalon your morning mover advance down in the premarket, check this out the chipmaker beating expectations for the first quarter, coming up short on sales forecast for the second quarter the company ceo said the chipmaker's position to grow its cloud footprint the second half of the year adding to the a.i. software the stock down seven and a quarter% on the disappointing guidance the stock is up 38% year to date but this morning taking a real haircut seven and a quarter% lower on amd were getting started this morning. a quick break democrat are trying to force a vote on the debt ceiling as they cue the dramatics on what republicans are actually trying to do house financial services committee member warren davidson is here with the very latest from washington on the united states dancing

hope for them. >> but plenty of people were saying there is no there there. did you feel an obligation -- maria did not push back on powelldid you feel an obligation to get in her ear and say push back? >> yeah. i had statements and statements, and -- >> you put up a dominion statement at one point on the screen, and she didn't read it. >> ultimately, it was up to her to read it, and she didn't. those were pretapes, all the executives at fox were watching them come in, saw no problem with it. their only concern was rudy would come on and bash fox for calling arizona first. >> you were in the bubble, you said, talking with the trump white house in covid, getting my information from people close to trump and running a show by myself. did you not feel you had a journalistic obligation? there were plenty of other people to talk to other than trump people to get facts. no? >> theose were the people that maria wanted on the show and fox executives agreed. >> were there conversations about should i push back on this person, should i -- you know, there's -- i mean there's plenty of evidence there is no election fraud, why not hav

hoping for an actual pause from the fed. but, what happens to the markets if they hike and don't signal that they are done if powell sticks with his aggressive stance on fighting inflation, what could happen joining us now with his expectations and how it could affect your portfolio is morgan stanley wealth management's jim lacamp thank you very much for being here right now this is pretty stark and maybe this is also a license for the fed to go ahead and maybe make that raise, because everybody is expecting it. what exactly do you think they should be doing right now? >> well, john, the fed is well aware of the past mistakes of the fed one of which, arthur burns, who quit hiking rates too early. and same thing happened with paul volcker so the fed's very aware that you can't kind of half-dead this you have to completely kill off the inflation increases before you stop raising rates here. so they painted themselves into this terrible box. because right now, we have an already inverted yield curve we have leading economic indicators, all pointing south you have problems with regional banks, as you were just talking about. it's

. >> they don't sound like too many bankers in town i hope paypal isn't watching he may say, what the hell -- i do want jay powello recognize they do have to wait to see what happens. they tightened and tightened and tightened. let that bank be the last one that falls jpmorgan got a deal of all deals. i think america is going to get angry at a certain point i don't want my regional bank to go -- jpmorgan has more than 10% and the only ones that seem to have the ability to soar. >> there is fodder for him to be dovish tomorrow if he wants. there was work done over the weekend looking at core services x housing. if it does another .3 next month, will be mid threes year on year. >> you tighten, the 20-year goes up in price down in yield, then you even further the housing bonanza which is the worst part of the inflation food trade right now. i just think they understand that when you saw mortgage rates go down, the home builders soared that's not supposed to happen. the fed has to be conscious of the fact that -- david, i don't know how many people talk about it but the 20-year is not doing what people think, unless

hope will be a mild recession. we are strongly committed to returning inflation to our 2% objective. inflation will not come down so quickly, it will take some time. manus: jay powellpeaking at the fomc press conference yesterday about the state of the u.s. economy, banking, and inflation. jeffrey cleveland is the chief economist at payden & rygel. he is making some very textbook assumptions. pacwest, we don't know about. svb, first republic, we are in outright deflation according to ubs. mohamed el-erian is lambasting the fed for looking at the wrong data. how wildly textbook was powell, and how offbeat is he in his assumptions? jeffrey: i don't know how textbook he was, but he seems to have the soft landing in mind. he is an adherent to the stop landing scenario. a lot of things need to go right, not much deterioration, a little bit of softening to use his words in financial and labor market conditions. the employment rate rises a little bit, and pati -- inflation cools, but not too quickly. the situation in the banking system doesn't morph into something more dramatic that causes a hard landing. he is definitely in the soft landing scenario. for investors, proba

hope on the debt deal with oil. and then refinery demand from asia is expected to tighten supply, that is another factor there. and one more thing to throw in, jay powell seeming to join the skip club on the june rate hike. he was giving a speech and he said the policy is restrictive and he is concerned about the lack so he seems to be joining that cap saying that we might pause. not necessarily ending but pausing. >> china has delivered the latest salvo in its semiconductor war. borrowing purchases of microchips after a failed cybersecurity review. let's bring in our top stories today. our chief north asia correspondence -- correspondent. once the latest in this ever escalating back and forth and we also had some comments about how to deal with beijing at the g7 over the weekend. >> there were 70 things happening at the g7 and not necessarily tied to the conference. so many things were happening on the sidelines, which i participated in in dashcam. president zelenskyy was there and there was a biden press conference where they talked at length about china. but again there were those debt in past talks which overshadowed everything. on the sidelines, t

powell is so optimistic he can avoid a recession? >> he knows if he said we would have a recession, everyone would panic. and i believe he hopese won't have a recession, but we don't believe in his heart of hearts he thinks it is likely. >> there are other economic challenges. three bank failures in recent months. broader concerns about the fiscal sector. how does that complicate the fed's efforts? >> the fed knows it raises interest rates, it gets more expensive for people to borrow, they spend less money, get less demand. that is what the textbook says. suddenly, they have another factor. how much bankers are going to pull in their horns, how much they are going to raise the standards for living. how much of a credit crunch we will have. jay powell made clear a credit crunch is like a rate increase. the bigger the credit crunch, the less they have to raise rates. they are watching carefully not to see these three banks, but what the rest of the banks are doing. it is serious for businesses that depend on these regional banks. >> there is a showdown over raising the debt limit creating a lot of uncertainty but leading to turm

could be shaped by what we hear today from powell it could be shaped by fed speak in the next week or so. >> how likely do you think that is given some of the hopes the doves have at least about base effects on this coming round of prints >> you know, carl, who's been right about the economy? send me that report that i haven't seen yet but i was just given a speech the other night. i was chronicling how bad the economists have been during the pandemic of forecasting the unemployment report, of forecasting the recession that has been what i'm calling the guido recession, the one we've been waiting for that hasn't come for a year now and keeps being pushed ahead i think the story now, carl, until further notice is inflation is going to be resilient and surprise to the upside until we get some firm, and to use the fed's term, convincing evidence that that is not the case i know we got the base effects coming up. and i would be happy to eat my words when that happens, carl. but right now you want to bet on higher inflation that's moving -- coming down more slowly than planned. i think you make money that way. >> also, that's where the fed is where st

powell hike interest rates quarter point? expectation he is. we'll talk with charles payne before he is ready to go on his show. we have larry kudlow, dick bove. we hopenes. but for now more expose to coast is after this. ♪. this small thing, is the next big thing in dia this s woah.hing, it shows your glucose, and predicts where it's headed, just like that. it's not magic, it just feels that way. i wanna make you go wow, make you go wow, make you go wow. my little family is me, aria, and jade. just the three of us girls. i never thought twice about feeding her kibble. but about two years ago, i realized she was overweight. she was always out of breath. that's when i decided to introduce the farmer's dog to her diet. it's just so fresh that she literally gets bubbles in her mouth. now she's a lot more active, she's able to join us on our adventures. and we're all able to do things as a family. ♪ get started at betterforthem.com as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by

coordination is going on and i do hope that they will basically use the mantle they have two tell the public that the system is not in bad shape. that is something that powelluple of days. i would like to have seen others step up and do the same thing before we lost a sense of -- that we know and when you are uncertain, you will doubt information you get. >> one of the ways that regulators could ensure the public that deposits are safe and has been talked about his potentially lifting the cap on uninsured deposits. i see that you believe this could be a moral hazard or more costly to the system. i am curious why you think that is. >> there is no magical formula as to when we just like congress sets the deposit limits. from 100,000 to 250,000. you could change the limit to whatever number you want and it does not prevent what happened at some of these banks. it would have provided more confidence in the banking system , but the truth of the matter is wherever you set the limit, there are going to be deposits above and beyond. talking about increasing the limits perpetually to whatever level is something for congress to decide. the reason i think there is mor