—— will be imf. pakistan don't want to go to the imf for a bailout —— will be imf.ovide some loans longer term pakistan does need an imf bailout to move beyond to a medium—term sustainability in their fiscal and medium—term economy. thank you so much for explaining that for us. former goldman sachs boss lloyd blankfein is reportedly the unidentified high—ranking executives mentioned in us court documents attending a 2009 meeting. former malaysian prime minister najib razak, involved in the one mds scandal. this is according to bloomberg news. the meeting was set up bloomberg news. the meeting was set up and attended by malaysian businessman joe lowe up and attended by malaysian businessmanjoe lowe and former goldman partner tim eisner. no comment from goldman and mr blank signed said he was not aware of senior managers missing red flags in the case. the success of marvel‘s and man and the wasp has helped improve disney profits and revenue above wall street expectations. it saw more visitors flock to the theme parks. they said total revenue rose to more than $14 bill

support for the imf through our policy engagements, and in the context of periodic imf resource reviews, represents a responsible use of our own scarce national resources. in addition to the support for the imf and the others, the united states can help countries that have limited options to finance needed investments. passage of the build act along with the recently announced indo transparency initiatives allows the united states to provide a positive agenda for infrastructure investment. again, i thank the subcommittee for my opportunity to offer thoughts. >> there's a lot for us to deal with in a fairly short amount of time. why don't i begin with our first three panelists, mr. lowery, ms. hillman, ms. lee. each of you speak to, i believe, the need for a more coherent and comprehensive strategy with respeblth to some of these issues we're dealing with. mr. lowery. you indicated that congress needs to assert our role with respect to trade policy and perhaps pressure, you didn't say this, but pressure this in future administrations to clarify our economic security strategy. i'll give y

support for the imf to our policy engagement and in the context of periodic imf resource reviews represents a responsible review of our own resources. in addition to support for the imf, the united states can help countries that have limited options to finance needed investments. passage of the build act allows the united states to offer a positive agenda for infrastructure investment. again, i think the subcommittee for the chance to offer my thoughts and i look forward to any questions. >> thank you for your summary testimony and there is a lot for us to deal with in a fairly short amount of time. why don't i begin with our first three panelists. each of you spoke to i believe the need for the need for a more coherent and comprehensive strategy. mister lowery, you indicated that congress needs to assert the role with respect to trade policy. perhaps pressure, and you did not say this, but pressure this and future administrations to clarify our economic security strategy. i would give you an opportunity to respond. mrs. hillman, you focused quite a bit on the wto in your summary comment in

many people don't know what the imf actually is. christine: the international monetary fund was set up 75 years ago by 44 men who decided that -- david: no women? christine: there was no woman in those days. so 44 men in 1944 on the eve of the end of the second world war with a view to avoiding major economic crisis, major instability in the world, which in their view led to the war. so that is the intention. david: where do you get your money? christine: from all the membership. every member, 189 members, they contribute to the financing of this common pot. david: it seems to be an informal understanding that the world bank would be headed by an american and the imf by a european. that has been the case ever since. am i correct? christine: i want to believe it will be headed by someone who has the competence to do the job. it is my observation it has been an american at the world bank. i think that is how they cut those arrangements in the early days at the time when the world looked a lot different. david: well, the world looks di

trump also brought up the fact that china is not a partner to the imf.is because of the particular western eurasia, eastern eurasia. so the way to deal with that problem is to bring them into the treaty, not to break the treaty and greatly increase the danger to the world. thehould bear in mind that atomic scientists, which has established since 1947, beginning of the nuclear age, has established the doomsday clock where the minute hand is a certain distance from midnight. midnight means goodbye, termination of all of us. and 1947, ittng was seven minutes to midnight. it has oscillated up and back ever since. last january after a year of the trump administration it moved to two minutes to midnight. that is the closest it has been to terminal disaster ever, with one exception, 1953. the united states, then the soviet union, exploded thermonuclear weapons we had the means to destroy everything. at that point, the clock did move to two minutes to midnight. it hasn't gone that close to disaster cents. but it did last january. now it is worse. the nuclear pos

as someon someone who spends a f time working with the imf, there is a good one. even nato. they have what they've agreed to pay and we know we shouldn't be required forever to pick up the tab. but these institutions make america stronger and we have got to be running them down. [applause] here is a question assess the validity of the statement if you would. american politics between 1933 and 2017 can be understood as a kind of figurative conversation between president roosevelt and reagan on the field of which we made most of th the worst foreign-policy decisions was about the relative role in the marketing of the state and the projection of force against commonly agreed-upon rivals. this moment from your leaving the white house until now feels like an incoherent part of that story. do you agree that you have governed in a boat that was basically shaped by those american traditions, and if you agree with it, how does one go withouabout recovering and restg that conversation? >> i think it is correct that despite all the difference is, i was listening to jim talk about tip o

be, imf, of course we will you know, in some sort of forms with imf.s some sort of comfort to international investors, but let me say again, this does not mean that we are going to ask for further financing. we can be in some sort of cooperation and by the way, we have already asked the imf to be engaged with us on our new strategy. >> at what point does the high cost of treasury bills keep you up at night? we are veryy transparent with our people and the international community and international investors that the level of debt, we are not happy with that, we are concerned, and we are working on that. of -- level as a percentage expenditure is high. treasuries, yields, and bonds went up, adding to the problem. let me say that we have a target to reduce our deficit. we have a target to reduce our debt. i have to tell you that i am just coming from a meeting with the prime minister. we are talking about specific measures and the specific actions which will help us to address both, decreasing the level of debt, and decreasing the level of -- i believe th

seeking any further funding from the imf when the current $12 billion program expires.ra: i struggled to keep up, manus. --er, mixed manic mess just messages from the fed. talking about cracks in the recovery and pockets of distress. if you have got to step away, do stay with me. if you are traveling to work, tune into bloomberg radio. this is bloomberg. ♪ nejra: to this is "bloomberg daybreak: europe." manus: let's talk a little bit about egypt. talking to the finance minister there. they will not be asking the imf for funding next year when the $12 billion loan program expires. the finance minister said the economy is now better and he is working to reduce the debt level to regain -- bolster investor confidence. >> let me say that we were happy with the imf. egypt is one of the few countries who completed such a program successfully. us.thing very good for this program was very strict. it was very harsh. it took the egyptian economy to a good form. a good position. we got from the , wet of asking for funding are now in a position that we do not think we will need fund

impact how the imf growth, now that there's wrinkles. sanctions let europe isn't going aboutde by, and questions trade between europe and the united states. aboutour assumption , building some ,ontinued slow down in export but it has a continuous, strong ,xpansion of domestic demand domestic investment and consumption in europe. it does not build in any significanton of de-escalation of trade sanctions or any other risks that are on the horizon. the's not taking into numbers. it is for that reason we say it is very important that now, european economies are still doing well, but it is important they realize there are clouds on the horizon and they prepare for these risks that are clearly on the downside. vonnie: we appreciate your time. on first wordk in news with courtney donohoe >>. authorities say the gunman who alled 12 people was 28-year-old former marine who may have had ptsd. the hooded attacker walked into a crowded country music bar and opened fire. he later apparently killed himself. he has been identified as ian davis long. wa

we hear the same solutions from the imf, urging world leaders to work together. i think we can say with a high degree of certainty that this is not going to be the end of the trade war. we are unlikely to seek a major deal breakthrough, after which tariffs are removed and suddenly we have this trade between us and china and globally. i think we need to remember that this is not just about trade. this is about the competition between the us and china, the two largest economies, this is the great power rivalry between them across multiple dimensions, economic, trade, military, political, geopolitical, so military, political, geopolitical, so it won't be the end to these tensions. what we might get is we have some sort of ideal, perhaps delaying the tariffs that were to be increased from 10— 25% this january and that might boost sentiment and help provide some relief to market, but it is going to be long—lasting. perhaps some temporary result to the market. there is an issue, that at these big events, apec was another one, we are not getting these joint communique i

he speak to the regional head of the imf. around iran and middle eastern economies. this is bloomberg. ♪ matt: welcome back to "bloomberg markets: the european open." we're 41 minutes into the trading day and still looking at gains across the board. relatively strong gains across the board from european stocks, even after a slump in markets in the u.s. and overnight in asia. , theer, we heard from eni towel in company that has won the rights to develop major natural gas fields in abu dhabi. it is the second partnership for producing gas after it signed an agreement on sunday with french total. has said the company is seeking to transform the united arab emirates into a net exporter of gas by 2030 by "thinking differently." .i'm calling for everyone that is exactly what we have done over the past two and a half years. we have to come to terms with the realities on the ground. we had to embrace this option. technology today is a central part of how we should be conducting business. it helps us improve our efficiency, profitabil

the imf already thinks it will close 2018 above 1,000,000%.ear, the imf's economists think it could be 10 times higher. vladimir hernandez, bbc news, caracas. inra: much rampant inflation venezuela. you are watching "bbc world news america." still to come on tonight's program, claims by a chinesee scientist thatnetically edited a baby have sparked an ethical debate. the bank of england has warned that without a bret deal, the british economy would go through a recession worse tncn the 2008 fil crisis. our economics correspondent has more for us on this story. reporter: a resolute move from the bank of england's top officials today, determined to issue a stark warning tthe parliament that a cliff-edge -deal respite would mean an economy that is much less open and much more vulnerable. is clear -- lower supplyac cy, weaker demand, a lower exchange rate, higher inflation. reporter: here is the bank's analysis of what could happenun r different scenarios rather than a forecast of what will happen. on the current trend with theweu ontinue to grow.

. >> you know, president trump has also withdrawn from the imf with russia.nk the president fully understands what's at stake? >> i'm not sure, i want to be clear. i don't know if he understands the consequences of pulling out of the imf treaty. he hasn't articulated that to the american people. he hasn't explained to us what the american national interest -- and i'm emphasizing the word american there because he does all the time -- how are we better off by pulling out of the imf treaty or the multitude of things he's pulled away from? i think philosophically he does have the idea that we're better off going it alone and being isolated, and i don't think history is on his side. i think we as a nation, if we are leading and getting others to cooperate with us, that makes us better off. and that's the fundamental difference. he sees the world in zero sum terms. if it's plus two for france, it's minus two for the united states, whereas other american presidents, republicans and democrats, by the way, have seen the benefits for the united states from cooperation

tim: to meet the imf's repayment demands, the government is slashing subsidies on basic utilities. foispeople in buenos aires, has meant the cost of electricity rising by more than water has gone up 340%. gas by 225%.io educand health budgets have also been targeted. >> of course its a rocky road, has been bumpy, but we have done very well in terms of strengthening institutions, stabilizing the economy, moving forward on deeper reforms to competitive -- for example, investment in infrastructure. we believe if president macri is rereected we will have four years of moving in that direction. tim: movement that will need the complexity of argentina's national dance, and some fr, as many years to master. bbc f do stay with the coverage of the g20 meetings taking place starting tomorrow in argentina, including the high-stakes discussion between president trump and chese leader x jinping on saturday on trade. in other news from around the world, police in frankfurt have raided the headquarters ofas deutsche banart of an investigation into alleged money-laundering. around 170 officials ar

they have memories of what happened with the imf last time. with nearly 50% of the population on some sort of welfare payment and inflation expected to top 50%, they think they are the ones who willor suffer me. >> we think that macri is giving our wealth, our natural resources to companies, and we think that belongs to our people. there is lot of people that didn't have food, didn't have social secure. they didn't have jobs. it is terrible. he is increasing that. tim: to meet the imf's repayment demands, the government is slashing subsidies on basic utilities. for people in buenos aires, this has meanthe cost of electricity rising by more than 500%. tewahas gone up 340%. gas by 225%. education and health budgets have also been targeted. >> of course it is a rocky road, it has been bumpy, ber we have donewell in terms of strengthening institutions, stabilizing the economy, movinge forward onr reforms to make the economy more competitive -- for example, investment in inastructure. we believe if president macri is reelected we will have four mor

that's the reason the imf is pegging the 3.7% global growth.ere, shecarol were would talk about synchronized global growth. peter: it is less of a real thing in the sense the u.s. has been outpacing a lot of the other rich countries. it is further along in tightening financial conditions because of the worry of becoming inflationary. what happens when you raise your interest rates? : money from elsewhere -- you p ull in money from elsewhere. that is one of the downsides of u.s. growth. there are certain countries vulnerable to that. if the chairman of the fed raises the federal funds rate in the united states and the entire range of rates goes up, global investors can pull money out of those developing markets, which need the money because they are running on a deficit. can only respond by driving their interest rate set to punishing way high levels -- rat es up to punishingly high levels. jason: what do you think will happen? peter: there will be constant pressure on these weaker, developing nations. for bad is that the u.s. runs bigger trade

let me give you a case study from the past week, the imf nf treaty.it is, beyond question, a view shared by every nato ally that russia is in serious breach of the inf treaty, that they have been in breach for six years or more. this was the view of the obama administration, repeated publicly in their compliance reports to congress and amplified by this administration, including most recently, secretary of defense mattis's briefing with the secretary of nato a few weeks ago. the response of the obama administration to the palpable violations of the treaty was to simply keep talking. now, we are at a point in terms of russian violations, where the president has decided that we are going to get out of the treaty. people have said, oh my goodness, can't you just try to bring the russians back into compliance? let's review the bidding on that diplomatically. the american position is the russians are in violation of the treaty. the russian position is they are not in violation of the treaty. let me ask you this. how do you bring the russians back into comp

whether it is the uranian module list center or international institutions like the world bank and imf, all agree to change the forecast in march, where they forecasted the economy would grow briskly, but now they are saying iran is in a recession and will get worse. rouhani is in a tough situation. environment -- the of maneuvering about whether or not to resume negotiations with the united states about an additional deal. saidut it nicely when he that the basic strategy of the rouhani team will be to outmaneuver trump. my talks with the spring were nervous. now they are extremely confident. confidence that they think, well, we have sustained bad things in the past and we can do it again. anyway tol positioned control the population if there will be any kind of protests. and we can outweigh trump. the challenge is shaking that confidence. patrick: thank you, patrick. -- speaker isr the ceo of the defense of democracies. he leads projects on iran, sanctions, and nonproliferation. he is an expert on the nuclear expert program and global threat network and is widely recognized as a key i

the imf forms -- warns that growth is slowing faster than expected.et a check on the markets with major markets now open. what are we looking at? are teeing up for a risk on rally in asia. it may not be all blue skies u.s. taking aim on chinese terrace -- tariffs. the caution over global growth may add to when it comes to japan, for example. the economy faces more downside risk than a year ago do in part two trade tensions -- due in part to trade tensions. most regional indices are set to and november higher with a 7% surge for the month, making it the world's best performer. about 19%. the cost be getting a pop of 1.3%. kospi getting a pop of 1.3%. getting some momentum this had the this also minutes released yesterday, signaling a rate hike is moving. , hending the advancement can year treasury yields are keeping steady this morning. holding losses to $50 after sliding 2.5% after reports that u.s. inventories rose. putin adding to the uncertainty saying $60 oil is absolutely fine for russia. sophie kamaruddin on the markets in hong kong. let's get t

is leaving the imf treaty. how does this affect the military's readiness plans? how does it affect the role of nuclear weapons in the strategy and how does it affect the u.s. posture in europe and the pacific rim? >> i was going back through some papers when i came into office and i noticed that rose gutmueller who was then the undersecretary of state for arms control in 2008 -- 2008, ten years ago, called out the russians for violations of the imf. i can go through -- as a matter of fact, i can take ten minutes going throughier year by year efforts of the diplomats to get russia to come back into compliance through denial and deceit russia has continued not just to do research and development and now standing up multiple units that are armed with a weapon that is clearly a violation and eventually russia, i believe, through a slip revealed that the missile, they said, did not exist. it did exist and once they realized that it was revealed they then said, but it doesn't violate the treaty and, by the way, you're violating the treaty over some things that we canno

figuresompare the imf with the commission figures, the commission figures look optimistic. defiant quite aggressive towards brussels, most observers are siding with the commission on this one. joe: what actually happens here? ?ow does this end where does it go? what enforcement mechanism does the commission happy if there is a stalemate? >> the first phase will go fast. this is the first time the eu has rejected a budget since the creation of the euro, so it is a new mechanism. all the member states except for italy are united in saying this is not acceptable. has benefited from a lot of budget flexibility, and this is too much. brussels has asked for a new budget from italy, which should be submitted by next week. italy is unlikely to produce anything different from what they have done. then the commission will have and say to assess it this is a breach of its rules. that italy will procedure, a deficit which is to say they are flouting the rules, but then the mechanism slows down quite a bit. in principle, there is a but that willion, take some time to kick in because the

the world bank, the imf, so on and so forth. those institutions were created by americans in order for us to do what the rest of the world needed to have done, and what was good for america. and i think it is still good for america. i don't think we ought to be denigrating those institutions, or attacking them. do they need some of them, reformation? absolutely. as someone who spent a lot of time working with the imf -- there is a good one, the u.n. -- there is another good one, even nato, this president is right in one respect, for sure. our european allies need to pay their way. and they have agreed to pay. should not be required forever to pick up the top on that. but these institutions make america stronger and we ought not to be running them down [applause] . [applause] jon: mr. president, you first. .ere is an exam question assess the validity of this statement, if you would. american politics between 1933 , can be understood as the kind of conversation between franklin roosevelt and ronald figurative conversation. but the

earlier, the imf warned that a no—deal brexit could cost the uk at about 6% of gdp, or about four yearswth. 0ne analyst told me why politics will play a crucial role in the days and weeks ahead. this probably has more to do with politics than the actual document itself. if you look at the document you might think this is something thatis you might think this is something that is workable and satisfies lot of people. unfortunately, when you throw politics into it, you end up with a problem. the labour party will probably voted down in parliament because they want to disrupt everything. and with that uncertainty, the pound is currently muted. it is not moving against the us dollar or the euro. if they have a no—deal brexit sterling could fall against the us dollar. if they get a deal it will shoot up. david ko from the motley fool. leaders are here for the meeting of the association of these they are —— southeast asian nations, asean, and sharanjit leyl told southeast asian nations, asean, and shara njit leyl told us southeast asian nations, asean, and sharanjit leyl told us what on the a

europe where growth is expected to cool down as well due in part to political dynamics at play the imficipating 2.8% in 2018 down to 2.3% in 2019. this as the uk government unveiled a sobering assessment of prime minister theresa may's brexit deal today, projecting the agreement would shave nearly four percentage points off uk gdp over the next 15 years. take a look at european stocks ending mixed today global markets clearly awaiting jerome powell in the next hour guys, back to you. >> thank you very much. >>> let's head over to sue herera and get an update. >>> good morning, everyone here's what's happening at this hour despite russia's seizure of three ukrainian naval ships, the kremlin still expects a meeting between president putin and president trump. this as president trump in an interview with "the washington post" on tuesday said he may cancel that get-together. >>> an explosion outside a chemical plant in northeastern china has killed 22 people and destroyed scores of vehicles it occurred just after midnight at a loading dock next to the plant. 22 more people were injured. >>

as someone who spent a lot of time working with the imf, the u.n., another good one, even nato, thisresident is right in one respect for sure, nato needs-- our european allies need to pay their way, what they've agreed to pay. [applaus [applause]. we shouldn't be forever required to pick up the tab on that. but these institutions make america stronger and we ought not to be running them down. [applause] >> let me ask, ask both of you and mr. president, you first. here is an exam question that they would have at rice. assess the validity of this statement, if you would. american politics between 1933 and 2017 can be understood as a kind of figurative conversation between franklin roosevelt and ronald reagan as a field on which we made most of your domestic and foreign policy recommendations between the relative and market and state and relative force among commonly agreed upon rivals and foes. this particular moment from your leaving the white house until now feels like an incoherent part of that chapter, of that story. do you agree you governed in a world that was shaped by those two

argentina is in a financial crisis. $57 billion loan from the imf in the next three years. strong. it is about to get serious. let's talk about this with greg valliere. that was the easy stuff. it will get difficult when the president in particular meets with xi jinping and the trade war as a back drop. what do you expect to come out of that? >> i think trump needs happy markets. he got a good beginning with the fed chairman powell earlier in the week. he needs a deal. or at least a thought with china -- or at least a thaw with china. i think he really needs to intensify the talks. >> we have been getting mixed messages from the white house of what constitutes a breakthrough. he said i have another $257 billion in tariffs if i want. and i'm also able to raise interest rates. he said tariffs. if we don't make a deal, i'll put the $200 billion. it is $267 billion in tariffs -- okay. what he means is tariffs. >> you need to translate that. >> this is the president calling the shots himself making very big threats. we heard from robert lightheiser who said the chinese have not

one thing i put in the second book i wrote was how the imf missed it, the federal reserve missed it.wn a whole series of major forecast. david: everybody got it wrong, let's say. i did notpurpose was find that a surprise. you can't have a crisis of that nature that is not a surprise. david: as you look back on your time as the federal reserve chair, would you have done anything different in light of the events that happened after you left? alan: not that i am aware of. david: when you were testifying to congress, you used what i call fed speak because you were up to skating -- up you skating -- was that on purpose? alan: at that time, the federal reserve did not make public what it was going to do. then,now, but not back and so the question was, what ways could i figure around answering certain questions or not answering them. whiched up a vocabulary no one could quite understand. david: so it was on purpose? alan: yes. david: why do you think we are not as creative as before can coming up with new companies? alan: there is more to it than the issue of simple capitalism. we are getti

majority, they don't care for the majority, the pool and the marginalised, and people who feel the imfferent social groups, trade unions, movements, people who don't wa nt to unions, movements, people who don't want to see the details each year in buenos aires. it looks completely peaceful from what we can see because previous summits have been marred by violence, haven't they. but at the moment looking at the scene behind you, it looks peaceful. that's right. it has been declared a national holiday here, the authorities have asked that people in buenos aires leave the city if they can. then more than 20,000 police on the streets. this is a big issue authorities here. they aren't taking any risks. the street here have been shut down in the past few days. it is difficult to get access across the city. as i said, the authorities are not taking any risks. but it is early days. the protest had only just risks. but it is early days. the protest had onlyjust started. we will be watching it and see how it is going. many thanks. thanks adjoining is a bbc news. so many things to discuss. let's

imf treaty is not in there. strategic arms reduction treaty. middle east. they're in syria.they have gotten cozy with turkey. there is tremendous number of issues. north korea, there have been complaints coming out of the u.n. that the russians are doing ship to ship transfers, providing good, u.n. sanctioned goods to north korea weil we're trying to get north korea to denuclearization. russia is major player globally. certainly across a broad swath of our national security interests. melissa: that is really important, if people were listening closely, what you put out there inserted themselves, almost any problem or conflict around the world we're involved trying to untangle the pieces, you just mentioned russia has a role or inserted themselves almost everywhere. interesting stuff to follow. peter brookes. thank you as always. >> thank you, melissa. connell: president trump is standing his ground when it comes to trade with china. he says he is putting america first. this weekend will the chinese blink? fred barnes coming on from "the weekly standard" next. ♪ i'm tecky. i

the imf is warning the world economy may already be slowing more than what we know. done and that will continue to be done in terms of loss of investment confidence by companies, in terms of a diversion and chaos when it comes to supply chain? all of that goes on while the u.s. and china continue to have these on and off conversations about trade. >> there is absolutely damage being done. you saw general motors shutter some plans this week -- plants this week. that may have had a little bit to do with how much more expensive it is to get steel and aluminum because of the tariffs and the retaliation on the tariffs. when i talk to business leaders across the united states, whether it is semiconductors to soybeans, they are worried. i've never seen business leaders so united in wanting to resolve the problems between china and the u.s. on trade and get back to business as normal. having said that, i would add that the unfair trade practices that china has been practicing for many years now are real. i don't think it is too much to theft ofop this cyber intellectual prop

one of the things i put in the second book i wrote was how the imf missed it, the federal reserve missed go down a whole series of major forecasts. david: everybody got it wrong, let's say. alan: the purpose was i did not find that a surprise. you can't have a crisis of that nature that is not a surprise. david: as you look back on your term as the federal reserve chair, would you have done anything different in light of the events that happened after you left? alan: not that i am aware of. david: when you were testifying to congress, you were famous for not being that precise -- clear i should say. you used what i call fed speak because you were obfuscating. was that on purpose? alan: oh, yes. it was a general rule at the time that the federal reserve did not make public what it was going to do. we do now, but not back then, and so the question was, what ways could i figure around answering certain questions or not answering them? i worked up a vocabulary which no one could quite understand. david: so it was on purpose? alan: yes. david: why do you think we are not as creative as before

one of the things i put in the second book i wrote was how the imf missed it, the federal reserve missedou go down a whole series of major forecasts. david: everybody got it wrong, let's say. alan: but the purpose was i didn't find that a surprise. you can't have a crisis of that nature that is not a surprise. david: so, as you look back on your term as the federal reserve chair, would you have done anything different in light of events that happened after you left? alan: not that i'm aware of, no. david: when you testified to congress, you were famous for not being that precise -- clear i should say. you used what i call fed speak because you were obfuscating. was that on purpose? alan: oh, yes. it was a general rule at the time that the federal reserve did not make public what it was going to do. we do now, but not back then, and so the question was, what ways could i figure around answering certain questions or not answering them? and i had worked up a means to provoke vocabulary which no one could quite understand. david: so it was on purpose? alan: oh, yes. david: why do you think i

the imf already thinks it will close 2018 above 1,000,000%.le here in the states watching the country and the economic climate and weather could lead to and the social unrest with all the refugees and immigrants trying to leave. —— whether that could lead to. this is beyond 100 days. still to come — a chinese scientist says he's helped create the world's first gene—edited babies. authorities are now investigating the claim. a victim of child exploitation has called for a change in the law, amid claims a man who raped her, was contacted about the chance to play a role in her son's life. sammy woodhouse, who's waived her right to annonymity, says rotherham council approached arshid hussain, even though he's in prison for raping her as child. fiona trott reports. a survivor of child sex abuse who says she still fighting for her rights. i think it's disgusting, and i always find that the rapists always get, you know, are protected and have more rights than what we do. sammy woodhouse gave evidence in care proceedings connected with her son which e

where i'm standing in argentina, christine the guard of the imf has said the ongoing trade were theres in dire straits, as you know. recession once again. another imf bailout after the last disaster is one, which argentina defaulted on a 2001, the largest sovereign debt default ever. and of course, the conference mohammad bin salman is there as well —— the crown prince. donald trump says there is no beating penciled in but everyone will be watching to see what's a relationship there is between the two men —— said there is no beating penciled in. the family photograph tomorrow... the family photograph tomorrow... the crown prince arrived yesterday. a lot of reaction on social media. this is his one opportunity, really, to come back onto the world stage and presumably just show to come back onto the world stage and presumablyjust show that nothing has really changed after the murder ofjamal khashoggi. nothing has really changed after the murder of jamal khashoggi. there's also some suggestion that the turkish president might be pushing for some sort of meeting as well, because of course

depending on how that relates to deploying something that might -imf treaty, get a particular lands missile or range and the u.s. has not developed those. as everyone knows, china is not a signatory to that agreement. there is a question as to whether the army would pursue a long-range precision fire solution that would not adhere to the inf treaty because the united states is with -- is potentially withdrawing. they are not especially controversial. the futures command has strong bipartisan support. it was seen as an overdue solution to the issue of building things for the 21st century. the hope was that a unifying effort in that way that the secretary just alluded to, you cut out bureaucratic obstacles to get the way of developing what you need at the best possible price and moving it out as quick with possible. it was seen as a money saver. >> one area that you tweeted about in terms of policy that you think will get more attention from a democratic congress is yemen. it puts us right in the crosshairs of the u.s. relationship with saudi arabia. >> i think there will absolutely be an inc

and what we have in pakistan is this out of forces through the old order and the imf regime dominated by the western powers with china having increasingly with an accident pakistan. i didn't follow the political campaign in afghanistan to the extent i would like that extremely even in the then we are very strong on drones and fighting taliban leaders and people out of the swat valley by don't remember a large-scale commitments in the tens of billions of dollars to rural development in pakistan, infrastructure development, the prospect of -- a thing america routinely did in vietnam, to very mixed reviews. that claim of holistic thinking about social stabilization and betterment i think slipped further down the agenda of american policy and it's very interesting the chinese with the one belt, one wrote program, with his commitment to very big building in asia but also in africa are in the business of changing the game about how we think about the development prospect of some of the poorest societies in the world. pakistan is very important on that list because it's one of the poorest so

the imf boss christine lagarde has said that central banks around the world should consider issuing digitalo—currencies such as bitcoin has created concerns for central banks and ms lagarde said that it would be safer if they create their own. shares in flybe have taken off, after the british regional carrier put itself up for sale, less than a month after issuing a dramatic profit warning. flybe's board says it's also considering cost savings. it warned last month that full—year losses would reach $28.5 million because of falling sales, a weaker pound and higherfuel costs. the music streaming giant spotify has launched across the middle east, hoping to tap into millions of digitally—connected consumers. the swedish company says it hopes it will cut down on music piracy but with several rivals already in operation, executives did not say how many users they expect to sign up. japan's economy is under pressure after a series of natural disasters hit spending and exports over the summer. gdp figures just released show japan's economy shrank 1.2% between july and september, with tensions betwe