so the house has acted on these ules rewriting humphrey-hawkins. [laughter] tag.ryan: i see a hash jonah: we wanted a longer conversation and this is what we could work out. this is my schedule. and one thing i do ask is everybody stay in their seats and where they are until the speaker goes and i'll talk for another hour and a half. mr. ryan: make sure everybody reads his book. [applause] . [captions copyright national cable satellite corp. 2018] captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. visit ncicap.org all i could think of, what if he was interrogating me. >> sunday night on c-span. next on c-span, british prime minister talks with members of the house of commons about her recent meeting and his comments with russian vladimir putin. >> questions to the prime minister. he prime minister. prime minister may: today marks 100 years since the birth of nelson mandela. i am sure that the whole house will want to join me in paying tribute to his

so the house is acted on these rules, rewriting humphrey-hawkins which governs the fed. i guarantee you chuck schumer will filibuster this bill. [laughter] i see a hash tag forming. jonah: we wanted a longer conversation and this is what we could work out. this is my schedule. and one thing i do ask is everybody stay in their seats and where they are until the speaker goes and i'll talk for another hour and a half. mr. ryan: make sure everybody reads his book. [applause] [captions copyright national cable satellite corp. 2017] [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. visit ncicap.org] >> the republican party has picked charlotte, north carolina to host their national convention in 2020. the republican national committee announced the decision today in texas. las vegas was the only other finalist. charlotte hosted the democratic national convention in 2012. foroin us this weekend alaska weekend with featured programming on c-span, book tv and american history tv. we will explore alaska's natural

and the humphrey-hawkins law gives the fed -- first of all inputs into the fed's statute the bogus -- i won't get into the phillips curve, it puts into -- mr. goldberg: bingo. [laughter] rep. ryan: correcting me. should have exquisite rules, should have an explicit rule and should govern itself by that and should be made clear. that takes away, that gives us all the fiat money that is a reliable source of value where we know exactly where our money is so we cannot have debasement by the federal reserve that takes away our livelihoods. so, but but the last thing i , want to do is get politicians involved meddling with interest rates in the federal reserve. so you want to make sure that you keep this thing away from political interference and meddling. this is not a vladimir putin statement. and have a standard that is objective and adhered to and transparent so we are getting away from the fiat money days. we are not debasing our currency in the future. and as the world's reserve currency, this is a privilege we could abuse if we don't watch ourselves. we passed this bill as well. so b

first time doing his humphrey hawkins testimony. lucy was about inflation.dent tonight is the jerome powell a republican is very friendly with the president. we are watching closely to see what he says about inflation, what he says about trade and given the fact netflix will be down 15% come that the market will be wild today despite what the future show. gerri: they need to learn how to forecast good they could solve themselves a lot of problems. thank you so much. gerri: a lot more coming up this in this early hour. amazon expected to rake in billions of dollars in sales for prime day, which is still going on by the way. how much of the event is actually expected to bring in. and how tesla ceo elon musk finally gone too far. the stock sinking after a cave rescuer in a twitter rant. looking at pictures on your tuesday, a mixed bag at the top nine in the premarket come s&p down one and a quarter, nasdaq down one and three quarters. you are watching "fbn:am." ♪ (vo) progress is in the pursuit. audi will cover your first month's lease payment on select models

on thelock's writings humphrey hawkins act, one of my personal favorite was. we celebrated today quietly as we had chairman powell testifying. i always find the goals of humphrey hawkins odd. you have full employment and price stability. i did not get to ask my question. i will let you have the last word. how has price stability than consistent with perpetual inflation? mr. pollock: it is not. that is one of the great mysteries of the federal reserve. our stable prices. this is consistent with the announced strategy of perpetual inflation. >> because this will be a very series, we may be losing members. colleaguell on our from ohio for the last set of questions for the hearing. that is warren davidson who is now recognized for five minutes for the final question of the hearing. i assume you are relieved, you won't be waiting for us for an hour and a half or two. thank you for your expertise. beginning with the nature of currency. : part of the stability of the u.s. dollar lies not just in the resources of the united states but in the resources of the world. th

i always find the goals of humphrey hawkins odd. you have full employment and price stability. i didn't get to ask my question. i'll let you have the last word, mr. pollock. how is price stability consistent with perpetual inflation? >> it is not. that is one of the great mysteries of the federal reserve, how stable price is, the term in the act is consistent with their announced strategy of perpetual inflation. >> thank you. that's one of the great mysteries of finance. i yield back. >> gentleman yields back from those good questions and i am informed because this is going to be an extraordinarily long vote series on the house floor, we may be losing members. and so i'll reverse course and call on our colleague from ohio for the last set of questions for the hearing, and that is warren dafbdsvidson who is now recognized for five minutes for the final question of the hearing. >> thanks for the bonus time, chairman. thank you all for being here. i assume you're relieved so you won't be waiting for us for an hour and a half or two to get back over here. thank you for your experti

the recent writings on the 40th anniversary of the humphrey hawkins act one of my personal favorite laws. and we celebrated the day quietly. i always find the goals odd i didn't get to ask my question. how is price stability there with part petrol inflation. as one of the great mysteries of the federal reserve. how a stable prices which is actually the term is consistent with their announced strategy. that's one of the great mysteries of finance. the gentleman yields back. i am informed that because this is going to be an extraordinarily long the vote series on the house floor we may be losing members and so i reversed course and call on our colleague from ohio for the last set of questions for our hearing. now recognize for five minutes for the final hearing. thank you all for being here. i assume you are relieved a bit. thank you for your expertise in this. i think just beginning with the nature of currency part of the stability of the u.s. dollar lies not just in the resources of the united states but in the resources of the world. everyone has to settle their current account at some

we'll watch this week, jerome powell heading up to the capitol hill for the humphrey hawkins testimonyabsolutely. gerri: ian. cheryl: coming up we're going live to london to see what traders are watching from the trump putin summit. watching special early edition of "fbn:am." >> you can't rule out the possibility he might recognize russia's annexation of crimea.in russia's annexation of crimea.in >all silverado 1500 crew cab ltn pickups when you finance with gm financial. that's $9,000 on this silverado. plus, during truck month make no monthly payments for 90 days. . .. cheryl cheryl investores en europe ceeping a kilos yie on todoes events en fin land as pet prepairs to sit down . rushian presidente vp. gorng, wha el european traid ers wach ng en sum mit todo? >> all of that tomorrow, wednesday is amex, ibm, thursday microsoft. how important are u.s. earnings to you this week? >> oh, vital, really, they took focus on trade war and that's a good sign and gets us on how well the economy is doing and if the u.s. economy does well, and so far earning season, it's been going very well, in

three months and ultimately, trade matters and we tried to quantify this week we've had the humphrey-hawkins testimony and as much as he tried to tight walk this, the fed basically gave you more room to say they're going to be less hawkish. >> and i want to go into the spin zone now. let's talk about the names that were on this conference. long huntsman and long biogen, short, evhd, short, and i'm sure the guys, and biogen for me is the huge optionality and if they get alzheimer's right it could be a double here that is actually fact. they rely on their ms business right now to get alzheimer's right, it doubles. the most interesting one and we've had the ceo on, take two interactive. people will knock this on valuation justifiably so with their earnings growth, but this is a hot space and tim has pointed out a number of times and samantha greenberg has gone to 170, and risk reward, take two is the best one out there. >> coming up, we have much more from the alpha conference and michelle caruso-cabrera still talking to steve bannon. that's a live shot we also heard from interviews with those

things that concerned me are the bond market, and i think it's very important and we have the humphrey hawk i-hawkinsn front of the senate and ultimately, we have a dynamic here and the fed tells you they're concerned about whatever is going on on the trade front that is something that i think will continue to flatten the yield curve. i care so much less for banks than i do for the broader economy in the sense of what we've got, but i actually think the price action is fantastic especially given the week we had. >> don't you think they're bullish? >> that's the angle i come at which is they'll slow down on their raising of rates >> so as bad news is good news, less is more i think for the first couple shot across the bow, matt, it's good news for the market that wants less fed i think the market is very concerned and the yield curve is what's showing it. that's more concerned about growth >> more concerned about the fed and what they might do or trade? >> that's been my concern all along? >> the fed is bigger than trade. >> when pal took over. brian sullivan talked about every market tests the new fe

since our last humphrey hawkins hearing in march, congress passed with significant bipartisan support and the president signed into law, s-2155, the economic growth regulatory relief and consumer protection act. the primary purpose of this bill is to make targeted changes to simplify and improve the regulatory regime for community banks, credit unions, mid-sized banks and regional banks, to promote economic growth. >>> a key provision of the bill provides immediate relief from enhanced prudential standards to banks with $100 billion in total assets or less. the bill also authorizes the fed to provide immediate relief from unnecessary enhanced prudential standards to banks between 100 billion and 250 billion in assets. it's my hope that the fed provides relief to those within these threshholds. by right-sizing regulation, the bill will improve access to capital for consumers and small businesses that help drive our economy. and the banking regulators are already considering this bill in some of their statements and rule makings. earlier this month, the fed, fdic and occ issued a joint

all-time high yesterday, with gain of 50 points jay powell is about to go into day two of his humphrey-hawkinslook on economy first day of testimony on capitol hill yesterday back later on for day two this morning, in europe, markets higher across the region fts00 up two-thirds of a of a percent cac quarante in paris up a half percent dax in germany up three quarters of 1% markets lower in asia overnight japan up one half of one percent, as you can see, the markets finished fractionally loafer elsewhere entering phase two for tax reform house ways and means committee chairman confirming time lines last hour. >> we had a great meeting with president yesterday just getting on the same page, on what we see for 2.0, in the timetable so we expect to begin our with house republican next week on 2.0. >> the questions remain about the president's trade policies and economic effects president trump tweeted earlier, 3.4 million jobs created since great election victory all greater than ever anticipated, and only getting better as new agreely improved trade deals start coming to froougs china customers m

way we could have a catalyst this week, let's not forget that jay powell will be testifying in humphrey hawkins from him from trade and any concerns on federal reserve on the tariff that is we have slapped on our allies an other nations including china. how do you explain outperforming and utility stocks in the four weeks, utilities up 8% and s&p 500 not even 1% over the period of time and that doesn't make any sense if you think interest rates are going to go up. that seems to suggest people are nervous about the direction of the market and the economy. >> it is, it's a bit counter intuitive for sure. it's been a great time for utilities to rebound because they got hit so badly. one thing to think about is small cap stocks have had a great move, performed twice as well as large cap stocks so far this year, when you are looking at portfolio, make sure you are not looking at mega caps because they are more affected by what's going on internationally right now, small cap stocks have more positive effect based on tax cut and we have not seen small cap stocks outperform large cap stocks in the year

in february during our last humphrey hawkins hearing i questioned whether the fed would ever return to a monetary policy balance sheet, after a decade of accumulating and maintaining in contrast, a macro-prudential balance sheet. and my concern remains. because less than a year into the fed's balance sheet wind-down, some fomc members are already calling to slow down or end the process. we were told by the fed that letting the roll-off schedule run for three or four years would be less exciting than watching paint dry. but as we meet today, we face the prospect that maybe the paint stays wet. in other words, we seem to be faced with an increasing prospect of a balance sheet that may never return to a more conventional size or composition. i believe this is problematic. an unconventional balance sheet may well threaten ultimately the integrity and independence of the fed's conduct of monetary policy, by enabling competing activities that lie outside its mandate for stable prices and full employment. this matter must be reviewed carefully. additionally, i have governance concerns. i woul