jay: it went in phases. when the seat opened up, the campaign promise had been made before and the seat opens up and then the discussion starts happening. it started getting in the public, speculation happening about who the candidates would be. both arizona senators at the time, barry goldwater and dennis, who was a democrat, both suggested her and said she would be a fantastic candidate. her name was out there as a woman who might fit. at that point, the family thought the supreme court was so few seats available that come up. the odds are long. all of us, including my mom, thought the odds of being a serious candidate were low. but as things went on, there was a confluence of so many people independently suggesting her that she became a serious candidate. and the interview team came out to arizona as evan explained. my dad ended up walking them out of their car to see them off, and asked the question. said, let me ask you a question. you do not have to answer this. how many other people are you having con

hold on, jay. schiff got early word.le-blower went to their agent's counsel and the counsel went to the white house and the doj. so everybody got early word. that's fine. make this clear to the american people. >> adam schiff said he did not get an early word. >> of course he did. the guy came to him, so i call that early word. if somebody comes to you about it -- >> chris, he said he did not get an early word. he is the chairman of the intelligence committee, and he said he did not get an early word. he said that on national tv. >> i'm not disagree with you about that. i'm saying -- >> okay. >> i think he did get early word on the whistle-blower. what he said is for him to justify. i'm telling you did shall. >> i say discount the whistle-blower. we don't need it. we have the transcript, and we have the context of the texts from volker. just to be clear, this is -- >> how do you have a transcript, chris? >> you don't get to have a lawyer come in and argue before congress for you with articles of impeachment. you don't do

jay could be monica lewinski and o.j.al and dave could be like there was a squirrel today in the park. just some bizarre offbeat thing. so you're not going to just get monologue jokes about the front page. it's whatever dave wants to do. sometimes it seems like a cable access show, like why is he throwing a watermelon off the building? >> i think that's an important consideration for all of us. and believe me, ma'am, you've come to the right place. >> you don't tune into letterman to see what's going on in the country today. you would have tuned in to jay to see that. that's the difference. character and personality, then a great joke teller. >> if you don't like who dave has on and you don't like who i have on, now you can click around, why don't we go back to jay? gee, here's something i might have missed. >> i found they both evolved their style. they came out of the carson thing and first instinct is to kinda sorta do it like that and then their personalities emerge and they did their own versions of it. >> the host p

i'm jay jurden this has been a dream come true [ cheers and applause ♪ >> jimmy: jay jurden for morember one in customer satisfaction by j.d. power. we're rated number one in customer satisfaction we all have things we love and long for. a place, a feeling, a moment. but only kerrygold can take you there. to ireland's lush, green pastures. where grass-fed cows produce rich, creamy milk for the most delicious taste imaginable. that's no ordinary cheese. no. it's kerrygold. kerrygold. the taste that takes you there. [ cheers and applause ♪ >> jimmy: my thanks to jessica biel [ cheers and applause billy crudup, jay jurden once again. [ cheers and applause and the roots right there, from philadelphia, pennsylvania [ cheers and applause stay tuned for "late night with seth meyers. thank you for watching have a great night i hope to see you tomorrow, bye-bye everybody. [ cheers and applause ♪ [ cheers and applause ♪ >> announcer: from 30 rockefeller plaza in new york, it's "late night with seth meyers. tonight -- james spader star of "schooled," actor and comedian tim meadows cooking with

>> but it's also called reliance. >> jay, is there a reliance defense? can donald trump insulate himself? or do you think guiliani has acted in a way that can put too much on trump? >> i don't think donald would suffer any adverse consequence at this time. he could be named as an unindicted co-conspirator in any criminal activity of guiliani. but keep in mind that when you deal with attorney/client privilege, it's donald's privilege. >> sure. >> it's not rudy's privilege. >> and we're short on time with all the news. the last question for you, jay, given your interest, do you think that donald trump should end this work relationship with guiliani? >> i do think so. i think it's time. i said that in march of 2018. >> and you think that even more so today? >> yes. >> danny? >> it seems like guiliani is becoming a liability for donald trump so it may be time to ending the attorney/client relationship and seek assistance elsewhere. >> very interesting and i think you made some news here tonight, jay, and you're close to a lot of the players so it's very inte

kathleen: that is what we got from jay powell.owards the end of the speech, he sai something something -- said something traders are looking for. he says the federal reserve will start buying more federal securities to make sure the recent turmoil in money markets does not flare up again. he says he will do it soon. maybe the october 30 meeting is when he makes the formal announcement of exactly what they are going to do. he also said they are thinking about buying treasury. three months, six months, maybe a year-long paper which is different from buying longer-term bonds. this is a significant issue, not a market mover and still not answering the question. cut the key rate on october 30. alone withowell not concerns about the damage being inflicted by the trade war. that has been raised by the new head of the imf. what did she have to say? kathleen: she just took over this job on october 1. took the occasion of her first major address to talk about something which echoed what jay powell said. she warned that the global threats fr

he is human, jay powell.would cut, they didn't cut, thought they would go 50 but went 25, to spite trump, is that a possibility in your mind? >> i think they both want the same thing, a strong u.s. economy and be shielded against the rest of the world. how they get there are different. remember a bunch people voting on fed, not just him. his comment about volcker raise your eyebrow, make you concerned. in the end i don't think he would motivate himself to do something wrong. he is trying to protect what he has done. charles: you don't think he would put his ego ahead of his job. >> i think they have done a good job. our economy is still relatively strong. gain fully employment. we're not overly inflated. not hot anywhere in the economy. to that point i would defend him. charles: we have to acknowledge though that the jay powell of december 19th, that hiked rates again, suggested there would be two more hikes. then the jay powell of january 4th, okay, you know what i had the epiphany that was a major change th

jay was based off me from age 13 to 16.ther since kids. >> yes, and his maturity level hasn't improved at all. my natural condition is i'm an oralist, i make my living with my mouth, quite like you. ( cheers and applause ) >> stephen: i'm going to get to. this this is important. i understand you're releasing this movie in an unusual way. >> we are. we're taking it out. >> stephen: in what way? no one else was demanding this movie but us. we were the only ones who wanted to see it. october 15th and 17th it's at any multi-plex that has a fathom of events screening. october 15th you go, get a free poster. seventeenth you go and it's a double feature and strike back. but then me and jay go on a 62-city tour between october and march where we take the movie from city to city and watch it with everybody. >> stephen: and take questions. >> and do q&a. then we have a big tour october 14ic and something happened to us at the premiere. we get to go to tcl chinese theater in los angeles and put our prints in the cement. ( cheers and a

jay powell facing questions moments from now. we're anticipating that we hope maybe that the cut in interest rates come up. i said today he must make it clear that the next fed move is unambiguous. i think wall street wants it to be a rate cut. all that and so much more on making money. ♪ deputy trade talks with china are underway as we speak. clearing way for higher level discussions on thursday. this amid disarray between the two sides. u.s. blacklisting 28 more companies and companies finding them in vise grip over the negative hong kong protests. head of white house trade and manufacturing director, peter navarro. peter, wall street sees, we have so much good will building up. china buying soybeans. paypal makes a big acquisition. both sides making nice. this morning or overnight we're hit with levy of new tariffs or blacklisting in this case on companies over human rights violations. does this suggest that human rights and maybe even hong kong will now be a pivotal part of negotiations? >> good afternoon, charles. by the way

hey jay. jay? charlotte! oh hi. he helped me set up my watch lists. oh, he's terrific. excellent tennis player. bye-bye. i recognize that voice. annie? yeah! she helped me find the right bonds for my income strategy. you're very popular around here. there's a birthday going on. karl! he took care of my 401k rollover. wow, you call a lot. yeah, well it's my money we're talking about here. joining us for karaoke later? ah, i'd love to, but people get really emotional when i sing. help from a team that will exceed your expectations. ♪ you get more than yourfree shipping.ir, you get everything you need for your home at a great price, the way it works best for you, i'll take that. wait honey, no. when you want it. you get a delivery experience you can always count on. you get your perfect find at a price to match, on your own schedule. you get fast and free shipping on the things that make your home feel like you. that's what you get when you've got wayfair. so shop now! (danny) after a long day of hard work... ...you have to do more work? (vo) automatically sort your expens

jay powell speaking a little later on.his is bloomberg. ♪ >> four minutes to go until the end of regular cash equity trade here in europe. the pound is trading at session lows. that's providing some respite relative to the peer group ftse 100. terms, you have 500 stocks down. 100 stocks up. of theves you an idea breadth we are seeing to the downside. volume is like the it has been across a number of sessions recently. feeling thecks pressure from the trade narrative emanating out of the u.s.. the european closes next. this is bloomberg. ♪ guy: 30 seconds of the lit end of regular trading in europe. we are pretty much uniformly down across the board. continental markets down more than the london market. the ftse 100 is being protected to a certain extent by what is happening with sterling, sterling taking a beating on a difficult meeting -- phone call between boris johnson and angela merkel. the pound has continued to slide. .5%.tse 100 down only on the continent, down .9%. the cac 40 just breaking below 1%. theerms of the

. >> jay gray is live there this morning with a closer look at the situation what can you tell us sobout this firefight? have they made any progress? >> they have made prognosis frefre progress. they got a drop in some of the winds overnight. they've been able to gain ground here. we were up the hill earlier when we were pushed out by firefighters as teams rushed in, from the air choppers started filling in, dropping water, hot spots and flareups occurring throughout this neighborhood. a neighborhood that had seen such intense flames throughout the day was burning again. those who live in this community understand how dire this situation is. >> the sky is burning. i was full blown in panic. >> probably the last time i'll see this neighborhood. >> yeah. unfortunately for at least eight families their homes have been destroyed. there are other homes touched by the problems here. and it's not over just yet. we continue to see choppers dropping water, 200, 250 yards from where we're standing right now. teams on the ground working as well. that's something that will continue. >> jay, in t

jay powell speaking today.e one of the last times we hear from him before the next fed meeting later this month >> h e is spe-- he is speaking. he will say the fed will continue to buy new reserves they said it was like to happen but powell saying it will happen says they are contemplating buying treasury bills. he says do not confuse what's going on with the fed balance sheet as quantitative easing it should not have a market efbt on monetary policy, per se he says the fed will act as appropriate. he says the fed is data depende dependent. his policy is never on a pre-set course there are risks from weak global growth, from trade and from brexit as well recent job gains could be revised lower. even then it won't be a problem. >> you stay here >> never seen far from relevance drawing our attention after recent events in the persian gulf technological advancements are rapidly changing our answer. with tera bytes competing with truckloads of goods, one of the best ways to measure output and productivity put more

will jay powell signal a stop, pause, or continuation of rate cuts? the bank of canada maintaining its target overnight interest rate at 1.75%. canada hasoz says not been immune to the effects of a global slowdown. we will hear from him next. facebook and apple on deck. the latest tech giants reporting quarterly earnings today after the bell. we will find out how much revenue the latest iphone lineup is bringing in. let's get a quick check on these major averages. right now, really deciding to when it comes to major market moves ahead of that fed interest-rate decision. under the hood is a pretty defensive tilt with utilities, real estate, consumer staples. cyclical stocks like energy and financials are on the back foot. the real fireworks could be in about half an hour's time. away from all of this, i have been known, instead of wearing some nice shoes, wearing some nice uggs, but i have never gotten into some crocs, but i'm apparently one of the few. these are their shares up today 15%. this is actually close to an 11-year high for what we can descr

jay: you are absolutely correct. way i'm starting to think about it -- i think we are in one of those rare periods where good news is good news for risk assets, and bad news is good news for risk assets because it brings more of a policy response. everybody is concerned about global recession. everybody. you will hear from the imf, world bank, everybody. bad news today is not bad news for risk assets. it is actually good news because it will bring more of a policy response. we have seen that with policy bank easing. the only bad news is the status quo where there is really no change. to your point, we need a catalyst and the catalyst could come from clear signs of global -- global growth bottoming which is significant implications for asset allocation and signs of improvement in the geopolitical front. shery: re: nearing the front where bad news will simply be bad news? the bloomberg chart showing the manufacturing slump globally. we are talking about the u.s., china, japan, there was own all under 50. in the u.s., w

to steve's point about jay powell, jay powell is a lawyer jay powell is lawyerly he speaks like a lawyer. he's careful but if he says that this is a mid cycle adjustment, those words are being chosen carefully. >> i'm glad you said that. >> he also said he's data dependent. you have to pick your poison >> i think he can be both. it's one piece of data >> final thought, please >> i want to add what michael says about the lawyerly thing. in the legal system, precedent matters. how many times have powell told us he's following the model of '95 and '98 and the mid-cycle adjustment and then a pause. i think this is a key insight that michael just provided that i think the markets have missed. powell's going to do this in a way that draws on precedent. times may change but a decision making process is one that infuses press dent can remain. melissa, if a quarter point cut stands between 3,000 and something much uglier, i'm afraid the market is on much -- >> i know you want to wrap it up he's not adverse to using the balance sheet. where the balance sheet was considered tightening before, long

jay jenkins, he had vaped a totally synthetic substance.no cbd whatsoever and no way to know who manufactured it. >> is the cbd supply chain safe? >> there are pockets or lanes in the supply chain that right now probably cannot be trusted. identifying those lanes, good luck. >> i think that for the consumer, you really need to beware right now. something is leading to death in a number of people and leading otherwise healthy young people to be hospitalized, in intensive care, on mechanical ventilators. >> we just don't know what it is. but a possible hint. according to the cdc, nearly 80% of people reported using vape products containing thc, where just 60% reported using nicotine only vape products. and keep in mind, since thc is legal in many states, there might be many more people who used it but won't admit it. >> science says what's in that liquid isn't necessarily the same concentration that's in the vapor. >> julie is part of a team focused on the chemical and physical reactions when people vape. >> there are chemical solutions happe

tonight, join jimmy and his guests - lupita nyong'o dane cook, jay sinatraa won and matthew 'super' delisiusical guest, the avett brothers and featuring the legendary roots crew >> questlove: 1135 >> steve: and now, here he is, jimmy fallon [ cheers and applause ♪ ♪ [ cheers and applause >> jimmy: thank you very much, that's a hot crowd welcome, everybody, welcome to "the tonight show. you're here. [ cheers and applause you made it. thank you for being here what a show we have for you tonight. lupita nyong'o is here [ cheers and applause dane cook is here. [ cheers and applause jay won and matthew delisi are here [ cheers and applause and the avett brothers are here [ cheers and applause and i'm sorry, but after reading that, we're already out of time. good night, everyone [ light laughter ] let's get to some news here, guys today a federal judge ordered president trump to turn over eight years of his tax returns i'm not saying it's bad, but right now trump's accountant is climbing over his border wall into mexico. >> steve: really [ light laughter ] >> jimmy: well, people are still talkin

jay powell did not make it look like a slamdunk.s speaking to the annual meeting for business economics in denver, colorado. ,t was a big picture speech talking about measuring tightness in labor markets. at the very end, he talked about what data dependence means now. he started talking about the u.s. economy in positive terms. job gains, strong labor market, rising wages. he went on to say, it is global risks that are rising, or risks rising from global development. you can thank trade, brexit, and more. it seems clear the door is open to the october cut, although some people think maybe depending on the consensus from the fomc there is a chance they won't. listen to jay powell, make up your own mind. >> policy is not on a cruise set course. the next meeting is several weeks away and we will be carefully monitoring information. we will be data-dependent, assessing the outlook and risks on a meeting by meeting basis. we will act as appropriate. kathleen: jay powell also said he wants to do whatever it takes to sustain economic expa

jay jenkins did it. most of the utah victims did it.ng is likely what made their tainted cbd so much more dangerous. >> when we're talking about positive fix for something like cbd and you're inhaling it by vaping it that's probably going to be an effect of the delivery system. >> i traveled to virginia commonwealth university in richmond to meet this researcher. she is investigating vaping during this cbd craze. >> but if that liquid happens to be tainted, you're also increasing the very rapid response of whatever it's adulterated with. >> studies show that in ten minutes alone, almost half the cbd is absorbed. so that means you will feel the effect so much faster than anything else. but if it's a tainted product, that's when it gets dangerous, even deadly. >> people are getting hurt. there's been a rash of poisonings from adulterated products. we have seen outbreaks in atlanta, we've seen them in the mid-atlantic. and so while they're isolated, it's a rash, it's symptomatic of something. >> something that she began looking into in 201

that is a battle that will take some is time as well >> we appreciate it, jay an important story thankch. >> still to come back to business we'll break out the tech earnings playbook. you've got these apple and facebook companies on tap. why the head of instagram, owned by facebook says he is worried about the 2020leio ectn. it is trending it should be and it is coming up robinhood believes now is the time to do money. without the commission fees. so, you can start investing today wherever you are - even hanging with your dog. so, what are you waiting for? download now and get your first stock on us. robinhood. doprevagen is the number oneild mempharmacist-recommendeding? memory support brand. you can find it in the vitamin aisle in stores everywhere. prevagen. healthier brain. better life. >>> back on the hill and ready to be grilled. the house set to grill boeing ceo. he faced crash victim families yesterday. will he again today? nearly $2 trillion apple and facebook, what are the most important questions for investors. will the fed give another rate cut today or will the president g

jay jenkins, he had vaped a totally synthetic substance.o know who manufactured it. is the cbd supply chain safe? >> there are pockets or lanes in the supply chain that right now probably cannot be trusted. accident identifying those lanes, good luck. >> i think for the consumer, you really need to beware right now. something is leading otherwise healthy young people to be hospitalized, in intensive care on mechanical ventilators. >> reporter: we just don't know what it is. a possible hint, according to the cdc, nearly 80% of people reported using vape 3r0ds saning thc, whereas just 16% reported using nicotine-only vam products. and keep in mind, because thc is illegal in many states there might be many more people who used it, but won't admit it. >> science says what's in that liquid isn't necessarily the same composition that's in the vapor. >> reporter: julie zimmerman is part of yale researchers focused on the chemical reactions when people vape. >> there are chemical reactions happening in that solution after the manufacturer mixed the

>> jay dillon: this is some of the biggest news ever. >> wertheim: jay dillon is a rare book dealer iny. he ranks the columbus letter as one of the most important documents ever printed. >> dillon: this was one of the first bestsellers. it is probably the first contemporary account of anything to be published across europe. >> wertheim: today only about 30 copies of this columbus letter still exist. >> dillon: each one is now worth something in the low seven figures. >> wertheim: more than a million dollars? >> dillon: more than a million but probably less than four or five million. >> wertheim: it was while researching columbus letters on his home computer, back in 2011, that jay dillon first noticed something amiss. the national library of letter online. what struck dillon as odd: it looked exactly like a columbus letter that he had seen for sale a year earlier, right down to the same smudge marks in the margins. and you're telling yourself what at this point? >> dillon: i'm telling myself that one of them has to be a forgery. >> wertheim: why is that? >> dillon: because you cant hav

jay wiseman. coming up the world map is being redrawn economically and politically and not with a sharpie this is the big picture on r.t. america. make or break the entire proposition financialization new because without a baseline to value risk and to value time you have no basis to value this financial eyes post industrial economy whatsoever it's all basically a guessing game. so what we've got to do is identify the threats that we have it's crazy confrontation let it be an arms race is often spearing dramatic to follow only closely and going to exist i don't see how that strategy will be successful very critical time time to sit down and talk. no other big picture show we have done in my 2 plus years at r.t. america has been seen more than our september 6th show when we dared to ask despite president trump's bluster is the usa losing its leadership position in the world order have we already lost it to date over a quarter 1000000 people have watched that show on you tube alone and if you have n

kathleen: what jay powell said and what the fed said were pretty much expected. they cut the key rate, but they made it pretty clear that they now feel they have done enough. in the policy statement itself come they removed the key phrase that jay powell has been saying over and over again, the pledge to act is appropriate to sustain the economic expansion, clearly the fed feels the economy is strong enough to wait and see what happens next, perhaps indefinitely. let's listen. we see the current stance of monetary policy is likely to remain appropriate as long as incoming information about the economy remains broadly consistent with our outlook of moderate economic growth, strong labor market, and inflation near our 2% objective. >> people are saying the chance of a cut in december is down to about 5%. kind of surprising that semi people ask about what's going to make you hike the key rate, it was clear to me about how he answered the question, talking about a materially weaker u.s. economy that would lead to a rate cut, when it fact he was asked about inflation

powellup, fed chair jay will be speaking in denver. we will get a preview, next.is bloomberg. ♪ ♪ shery: this is bloomberg markets. i am amanda lange and toronto. shery: i am sherry ahn in new york. amanda: we are waiting for federal chair jay powell, so micah, let's start with what we expect from powell today. mike: a little bit hard to know. they powell had to it is a little bit hard to know. bit hard toittle know. does he want more time to make a decision and does he need more time because the markets have decided that he is going to cut rates. if he does not say that today, if he does pushback, he could have a market reaction -- a negative market reaction that he does not want, so it is a tough job going into this. you have three point 5% unemployment with wages growing even a little bit more slowly. on the other hand, you have the lousy imn manufacturing numbers. so does the fed think they need more stimulus? saythey have to do is something that will convince the market for the fed's on-the-job even if they have not made a decision yet. shery: in the meantime

what do you see, how do you interpret what jay powell just said that we're going to regrow the balance sheet, but it's not qe? >> well, this is what i've been speaking of in many of my recent interviews. i've been calling it polo. aye been referring to it as permanent open market operations. it's just to handle the overnight money markets. but they probably need to grow the balance sheet a little bit just for the economy's sake as well i do like he mentioned a lower trajectory for the fed funds rate. i do think we need to repair the yield curve. he seemed to admit that he doesn't really have a handle on how loose or tight labor markets are, which i thought was quite honest. we know that productivity has slowed, the usm, the employment part of both ism reports was kind of weak. we saw the small business report this morning which was weak especially for future employment. so there are questions there. i don't like that he mentioned data dependency as reliable, as the way the fed has always operated, because you know i don't like that. i think they need to be awe ahead of the curve. i thi

feels like jay powell had epiphany early january. wage inflation is not the same as price inflation. the market staged a remarkable rally. this whole thing with liquidity. every wall streeter i ask about this, sloughs it off like no big deal. the number is increasing. we started 60 million, billion. the numbers keep going up. the time limit of the time of this keeps going up. it feels like it has been sloppily handled. how do we get into a position where the financial system runs out of cash? >> it has been poorly handled not just by powell but janet yellen as well. raising rates, sucking liquidity out of the system. nobody thought it would work. it was utopian solution. charles: was that a way of them taking a victory lap, saying mission accomplished we'll unwind all of it? >> it was their way of doing it. it clearly didn't work. you have a problem, global shortage of dollars. global. this is not just a u.s. problem. people who downplay liquidity will find out really quickly, once that liquidity stops, the fed gets behind the curve

jay jenkins, he had vaped a totally synthetic substance. it had no cbd whatsoever and no way to know who manufactured it. >> is the cbd supply chain safe? >> there are pockets or lanes in the supply chain that right now probably cannot be trusted. identifying those lanes, good luck. >> i think for the consumer you really need to be aware right now. something is lead to go death in a number of people and leading otherwise relatively healthy young people to be in intensive care, mechanical ventilators. >> reporter: we just don't know what it is. a possible hint. according to the cdc, nearly 80% of people reported using vape products containing thc, where 16% reported nicotine only vape products. because thc is illegal in many states, there might be many more people who have used it but not admitted it. >> what is in that liquid is not the same composition that's in the vapor. >> reporter: a team of yale researchers is looking into the chemical reactions. >> what happens after the manufacturer mixes the chemicals even without any heating. they

it will be interesting to hear jay powell. alix: nonetheless going to make that fine line he has to walk a little trickier. how much of this do you think israel, and how much of it is posturing into the talks -- do you think is real, and how much do you think is posturing into the talks? against think the move chinese tech companies is very real. that is an existential threat to a key part of the chinese tech sector. the chinese are rightly concerned about that. there's also a step we haven't mentioned so far, which is secretary wilbur ross, when he announced this, use some very provocative language. he said the u.s. government had a right to address human rights violations within china. that will be a real red flag to the chinese, who have for a long time argued against any meddling in internal politics. of course, we are seeing that with their response to the nba. this is an even bigger, or consequential -- and even bigger, more consequent to hit. i think we also need to give in mind that both sides do have an interest in se

jay kaplan with royce dividend value fund.ou again thanks. >> thanks, again. >> there has been a lotot of ta among democratic presidential hopefulless about taxes the rich often arguing this they don't pay their fair share. the proem is no one can agree on exactly how much wealth americans pay in taxes. robert franke edition through the numbers. >> the tax headlines this week were about how the rich pay lower tax rates than the rest of america. articles and op-eds "new york times" and "washington post" and other publications said the first time in over 10 oh o year the richest 400 americans paid only 2 of the income in taxes. while the bottom half of americans paid 24%. the rearch is from a new book by manuel sayes and gler zukman at university of california berkeley advising elizabeth warren and bernie sanders and wealth taxes. the economists looked at estimated taxes paid f that including state, federal, stating with payroll, local and property taxes and then calculated the total of those taxes as a share of people's income.

we'll see what jay powell has to say later today.t now. ♪ ♪ what you trying to do ♪ >> good tuesday morning. welcome to "squawk on the street." i'm carl quintanilla with jim cramer, david faber. doubts creep in ahead of the u.s. china trade talks boeing down more than a percent on a couple of negative headline, will not help the index at the open eerither. wholesale inflation runs much cooler than expected road map begins with fading optimism for a china trade breakthrough more companies black listed ahead of those talks this week stocks a

venture jay powell says the fed is close to balance sheet expansion -- fed chair jay powell says the fed is close to balance sheet expansion, but says it is not qe. welcome to "bloomberg daybreak" on this wednesday, october 9. in the market, all about trade. some optimism because i'm a little skeptical about what that all means. equity futures up by 0.8%. if we see a partial deal, will that be good enough for the market? euro-dollar up by 0.2%. it is a mixed dollar story. you had greeks being able to sell bonds for the first time a negative yields, so there is still search for demand in that negative yield world. time now for global exchange. we bring you today's market moving news from all around the world. current --is in the is in the current -- is enda ant, anna edwards, and kevin cirilli. reportedly, china is still open to a partial trade deal with the u.s. as long as no more tariffs are imposed. enda currannt -- joins me from hong kong. enda: the fact that the hong kong delegation is still heading to washington speaks to the idea that china is in the market for some kind of agr

jay powell says the fed will securities to avoid recent turmoil. we will be live in dublin on morning after ireland presents its no deal budget just 22 days away from the deadline. ♪ matt: good morning from berlin. , it seems that the disintegration between the u.s. and china further continues deteriorating and hurting stocks around the world. nejra: it is getting to be a bit of a complicated mess. itse is discussion about stock flows of u.s. money into as well.e travel bans it is not looking good head of trade talks. that is what markets took away even as we got comments from jay powell. matt: exactly. i think they might be separate issues to some extent. stocks fromat the the hot mess, there were declines of 1% across the board in europe. take a look at what we see in the msci asia-pacific right now. down .6%. s&p futures are currently up right now. remember, it is really going in the futures trade and fairly thin in asia. here.e nymex crude we are so low here. maybe a second-degree relation in that the trade issues cause slowing global growth an

we're getting after it with president trump's lawyer, jay sekulow.hen we're being forced. he says we won. we got a stay. i say that's not a 1. we'll see what happens. something i want you to defend and here's why i think you will lose on appeal. the district court judge, jay, said this is repugnant to the constitution what you are arguing. that the idea of federal supremacy and presidential immunity from judicial process is unqualified and boundless in its reach. it cuts across the grain of constitutional precedent. unother words comes from the office of legal counsel, not case law, not legislation, certainly not the constitution. i don't think you have basis. what's your argument? >> i think it's exactly in the constitution, the supremacy clause, the idea of separation of powers. it may go to the supreme court ultimately. we're going to win this. you can sfnot have a president subject to 5,000 local district attorneys who have a bone to pick or thels president would be interfered with by local magistrates. i think we're going to win. you know what i

the job for jay jay. at the start of the layout of what i mean why at all i'm here full of charge indian stuff and yes that is directing if we have mom and pop. we should keep going on long. long. long speeches he should. not go will you he will do it all on the new movement the division will eat some dough which will you go in your cup when you which would be only years ago. decided to push through into the night in this cordoba riyadh's. that's what which the book was no climates at rb don't tell but you need views of tom we haven't been made to reveal what in your press talent than it. costs at thing it's a corpse to which news i'm still. the good focal goose during the production. it's not just the show for the nomination it's. but who. has it when you know it's you going to send it to or you go into any of those things you need that was a. quiz which. was just a bit odd as it is yeah and so are you up do you have this thing that i missed them a minute in the national bible when we had to bring is now

>> jay. j.j. rush. i call him jay. >> that's right. her ex-husband, j.j. rush. small world.rs knew j.j., had run into him at crime scenes. j.j. was a medical examiner's investigator. but why would cara shoot him? her answer was right there in the 911 call. >> my ex-husband came in and raped me. >> he raped you? >> uh-huh. i shot him. >> rape? but that's all she said on the topic until about two hours later, when she told a deputy she needed medical attention. >> i need to see a doctor. i've been hurt. >> it was detective syers' job to sort through it all, and he began by showing cara a bit of kindness. >> i went over and took the handcuffs off her. >> she must have seemed pretty upset. she just shot her ex-husband. >> not unduly? >> really? >> no. >> mind you, according to cara, as she sat there in the car, she didn't know how badly hurt j.j. was? so you thought he was alive still? >> absolutely. >> didn't need an ambulance? >> didn't need an ambulance. >> in fact, j.j. died rather quickly, a fate that had a certain irony. it was he who gave cara a gun, shot her how to shoot

victoria del venado fue la Única que consiguieron, los contendientes sumaron 10 puntos al hilo con jay

and now jay sekulow saying the same thing. i only found out about this in the media.hat do you make of this? i think there is a lot of attempts at distraction and trying to control a narrative when the evidence suggests where there is smoke, there is a lot of fire. and i also -- i really -- i think there is something so sleazy about the whole affair. and i can't help but almost get emotional sometimes thinking about some of these people out there supposedly representing the interests of the united states. but actually kind of telling us to highest bidder and our allies to the highest bidder. if that's really what happened, that's pretty disgusting. >> what do you make of the way everyone has been throwing everybody else under the bus. >> well, look at sekulow. he did not look comfortable. he looks nervous. they know at a minimum there was an impeachable act. there is money involved in this. we can't lose sight of the fact that while they were trying to manipulate the government of ukraine, they also were trying to get control of the biggest gas company in ukraine. and

jay sekulow, thank you for joining us with more, the author of the brand-new book out tomorrow, "witch hunt: the story of the greatest mass delusion in american political history," fox news contributor, legal analyst gregg jarrett, the author of another great seller, "defending israel," alan dershowitz is with us. do you see any high crimes, misdemeanors, nobody that i -- you and i had our biggest fight over the clinton impeachment. it was pretty brutal. we made up since. when you go up, there are 11 specific felonies identified by the independent counsel at the time, the statute has changed. that would be kenneth starr. i don't see the mention of a felony. felony.11 >> there are no impeachable offenses. the constitution is clear, you need bribery, treason, or other high crimes and misdemeanors. the most interesting issue, the one that jay has brilliantly litigated is whether a state can investigate and prosecute a sitting president. i think the second circuit has given us a clue as how it might decide that issue. it said it was a very, very important issue. the constitution itself say

. >> i was going to say jay. >> it's pretty much you. >> anytime when i'm not getting to primarily beith these people i feel a little sad and lost. >> reporter: cam, played by eric stonestreet, and mitchell, played by jesse tyler ferguson, providing a modern take on gay marriage. >> i think our goal and the writers' goal has always been to -- i don't want to use the word normalize but just make it that we're j like everybody else and we're inadequate in different areas -- interesting. fathers are >> it's a portrayal that broke barriers when at the end of season 5 they had the gay wedding of the century taking place a full year before the supreme court legalized gay marriage in all 50 states. the couple's adoption of their vietnamese daughter lilly a reflection on today's society and diversity. >> how they were able to portray a in gaay stable loving home with a daughter, what is the significance of that? >> it means a lot toi bmean, i as someone who was looking for role models on television, not necessarily finding them,e n be kids now. and i think it's been a talking point for a lot

on the calendar this week, fed chairman jay powell is set to give a speech tomorrow in denver we'll alsoet minutes from the central bank's latest meeting and some new inflation data. yippee >>> okay, u.s. equity futures at this hour as you can see down about 128 points, 127 points almost 400 points of gains on friday tough start to the quarter, though, as we have pointed out joining us now kevin cummings senior u.s. economist and mark grant. kevin, let me start with you, big piece in "the wall street journal," now there's worries that earnings which were right on the cusp of when we're going to be swamped, in the swamp, which is a loaded term now, but that's coming. is that where we need to focus our attention in terms of worrying about whether there's a recession signal there or no >> i think that's right. i think the u.s., there's very much real concern here that the economy is moderating and last week's ism surveys indicated that there could be some more downside risk to the outlook in the very near term friday's jobs report was decent enough that i think at least it doesn't show that

jay powell overdid it.he economy couldn't take it there are a lot of people who come on air and say it didn't matter you look at the mortgage purchase numbers this morning, clearly does matter. internationally, scott, we're lucky that -- the stocks are doing far better than the economy. people aren't hiring international, they're hiring domestic i think we need to cut how many quarters can you have where numbers are bad because of the strong dollar? so, look, jay didn't do it right. and that's okay. it is okay people make mistakes all the time we accept mistakes in -- other than for the new england patriots and sports. we accept mistakes in school, we accept mistakes in science why can't we just accept mistakes in fed policy >> he's been trying to make up for it if anything maybe this will be the third cut. what if it is a cut and pause. is that a mistake? >> there is an algorithm that says cut, pause, cut, pause. they'll act immediately. people should wait for the cut pause. the greatest thing jay could do

that's it. >> sean: jay sekulow thank you for joining us. let me explain how if we go to the politico article, the problems with joe biden are serious here and especially -- look at politico 2017. i have it right here somewhere. if you look at it, i have it right here. it is january 11th and it is in 2017. let's go back and read from this particular article because this gets to the heart of everything the democrats are doing and what they have done wrong and what's going to continue. ukrainian government officials tried to help hillary clinton and undermine transit by publicly questioning his fitness for office. they also disseminated documents, implicating a top trump aid in corruption and suggested that they were a investigating the matter only to back away after the election. they helped clinton's alliesli research damaging information on trump and his advisors. well, it continues to mount for sleepy creepy uncle joe. rudy giuliani is with us. former new york city mayor.i acu go andty take on congress becaue i believe jay sekulow, your pa

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