louis fed president james bullard said policymakers may have "slightly overdone it" by raising interest. he told bloomberg in an exclusive interview, it is too early to talk about a rate cut. james: rates are in a good place in the u.s. right now. if anything, we are a little bit restrictive, i would say, and i that we i am concerned may have slightly overdone it with our december rate hike. i was pleased that the committee pivoted. manus: interesting admission. joining us from [indiscernible] listening to james bullard, we slightly over did it but it is to tie up -- too soon to talk about a cut. how do you interpret those statements? that clearlyink supports our view that the fed is on a wait and see mode for now until they can better evaluate. especially the fallout of the trade war and whether inflation is a temporary observation or whether it will continue to fall. bring yournt to attention to some headlines we had in the past two minutes around the korean won, great to speak to you this morning. a bank of korea official is saying the won has fallen to rapidly. it is asia's worst in

fed president james bullard said the latest break hike may have been pressure. he speaks exclusively to bloomberg. are,am concerned that we we may have slightly over done it with our december rate hike. are 30 minutes away from the european open. even with increased tensions between the u.s. and china, we see u.s. treasury yields continue to rise. this is a three-day chart of the 10 year -- of the bond but it will look similar. the bond yielding negative seven basis points and if you look at futures for what is expected here in europe and the u.s., we are looking at ftse futures that are gaining right now. dax futures and cap futures that are down a little bit but not a lot of movement. we are waiting for some momentum for the european continental indexes. we have it for the ftse. what do you see on the gmm? anna: the ftse looks glaringly different and the u.s. futures point downward. the picture was fairly flat. trading wars are laying awaiting graham -- playing a waiting game. plan to apply the huawei treatment to other companies. we are fairly flat from the a

everyone thinks the target rate is 1.6%, which has been the case over the past several years. >> james bullarde only fed president to go one-on-one with bloomberg this week. we have a conversation with raphael bostic of the fed bank in atlanta. >> i think we are pretty much at a balance. >> plus, regulations have european banks in a bind. prominent executives explain why they are feeling the pain. >> they have not been able to develop deep capital markets like we have in the u.s. taylor: this is bloomberg. ♪ . . . . taylor: this is "bloomberg best," i'm taylor riggs. let's get to another perspective on monetary policy from another fed insider. federal reserve bank of atlanta president raphael bostic told michael mckee this week that he's not ready to get off the fence when it comes to the fed's next move. >> i am not in the position right now where i think a move in one direction or the other is more likely. there are a lot of risks out there which, if they come to fruition, might have the economy weaken. if that happens, a rate cut might be appropriate. but there are a lot of sources of uncer

louis fed president james bullard.or now, let's get a quick check of how markets close the session here in the u.s. most were up on the s&p 500, semi conductors rebounding for the first time in sessions after the 4% selloff on those tensions around huawei. we did have some stocks in the negative though. we got some ugly first-quarter department store earnings, and that really hit stocks like jcpenney's and cole's. we also had some disappointing existing home sale numbers, and that did not bode well for some, and the u.s. futures at the moment holding steady. let's see how we are shaping up for the asian markets. the door is, shery, still open for u.s.-china trade talks. start ahead of japanese trade data that is expected to show a fifth straight month of a drop in exports with potential auto tariffs among the threats. let's get a check on ozzie bonds, which are giving back some of tuesday's rally -- on s, which are giving back some of tuesday's rally. checking in on oil, edging loyal amid concerns -- edging lower amid

louis president .- he a regime change here is james bullard. place in the u.s. now. we are restrictive and i am slightly we may have overdone it with our december but was pleased that the committee pivoted. tom: after we heard from clara powell williams and the cast of thousands, alberto gallo and miss turner. there too much visibility and central banks? are all of them talking too much? should they all be more like the bank is -- of japan? forward guidelines have created distortions. if central bankers always tend whatlk and you can predict you're going to do, the market becomes one-sided. everyone is pricing hikes or cuts in this particular situation. people tend to take risks in the same direction. it makes markets more binary, more fragile and more subject to losses in case central banks change their view. you can have a central bank talk too much but the risk is they are going to box themselves in. countsket is pricing to for the fed in the next 12 to 18 months. if the fed does not deliver, the market probably will not like it. this is a r

louis fed president james bullard in the next hour.♪ shery: let's return to the trade war which is causing increasing criticism. nike and adidas among almost 200 companies calling on president trump to abandon his catastrophic tariffs. let's see where things go with marian lovely. my first question will be can there be a real trade deal without the president lifting those existing tariffs on china? >> no, there cannot be a real trade deal without the president lifting the existing tariffs on china. there was talk about him keeping a subset of the tariffs on as sort of security deposit, an insurance that china would adhere to whatever agreement they meet. but now, we don't see an agreement on the table. both c -- sides see very far apart. the president rather than looking for a solution in terms of working closely with the chinese has ratcheted up the pressure on the chinese in terms of the movement on huawei. it is increasingly -- it looks increasingly unlikely we will have a deal in the short run. shery: businesses in the u.s. are not

everyone thinks the target rate is 1.6%, which has been the case over the past several years. >> james bullardn't the only fed president to go one-on-one with bloomberg this week. coming up, a conversation with raphael bostic of the fed bank in atlanta. if you ask me how the skills are, i don't think they are tilted. i think we are pretty much at a balance. >> plus, regulations have european banks in a bind. prominent executives explain why they are feeling the pain. >> europe has still been hesitant to develop deep capital markets like we have in the u.s. taylor: this is bloomberg. ♪ when you rest on a leesa hybrid mattress. bedtime is no longer simply the time you go to sleep. it's time to switch off and catch up. enjoy me time, and we time. 40 winks or 8 hours solid. the leesa hybrid mattress combines two technologies to give you deeper rest and rejuvenation. 1,000 pocket springs provide edge to edge support, responsiveness and comfort while premium foams relieve pressure. keep you comfortably cool and limit motion transfer. leesa's hybrid mattress is not only recommended by experts. expert

taylor: james bullard wasn't the only fed president to go one-on-one with bloomberg this week.a conversation with raphael bostic of the fed bank of atlanta. she officially asked me how the scales are, i don't think like for me they are tilted more of a cup than the hike, i think we are pretty much in balance. taylor: plus, regulations have european banks in a bind. prominent executives explain why they are feeling the pain. >> europe has been hesitant to allow the government of deep capital markets like we have in the u.s.. taylor: this is bloomberg. ♪ at comcast, we didn't build the nation's largest gig-speed network just to make businesses run faster. we built it to help them go beyond. because beyond risk... welcome to the neighborhood, guys. there is reward. ♪ ♪ beyond work and life... who else could he be? there is the moment. beyond technology... there is human ingenuity. ♪ ♪ every day, comcast business is helping businesses go beyond the expected, to do the extraordinary. take your business beyond. taylor: this is "bloomberg best," i'm taylor riggs. let's get to another

louis fed president james bullard says it is premature to talk about a rate cut. rates without evidence of clear inflation pressure. the u.s. may widen its ban on the sale of american tech to china. the trump administration is deciding whether to add five chinese video surveillance companies to the blacklist. u.s. officials are concerned about their role in helping beijing repress the minority. u.s. chipmakers are preparing for a trade fight with china. the emerging consensus is the price will be high. smaller manufacturers are already warning of the impact of the ban of sale to u.s. -- sale to chinese company huawei. global news 24 hours a day, on air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm the vienna art otto. this is -- i'm viviana hurtado. this is bloomberg. alix: china digging in its heels as well, as china's xi jinping told a cheering crowd, "it is a new long march now, and we must start all over again." joining us now is deutsche bank chief u.s. equity and global strategist and head of ass

paul: we were speaking yesterday on the show to james bullard of the st. louis fed. the fed over did it on tightening, but i understand you feel the fed has maybe overdone it on easing. >> james bullard has a lot of contacts and is in a lot of meetings that i'm not an, but as i travel the world, travel certainly the united states, speak to investors, speak to companies, there has been an underlying strength over the last multiple years that the fed has been very cautious with. now that is rolling over a bit, but it is rolling over in the context of the fed really not having a lot of room to support. i really view the fed as having been behind. today, the fed is really walking a knife edge. if they move too quickly or to either they engender inflation and instability or cause a slowdown. they have painted themselves if it into a corner by not raising rates a little bit more aggressively in the market essex is me, when the economy was stronger, so now it is a question of what do you do? they are really not where they need to be as far as being ready for the next downtu

right after your interview we had on cnbc james bullard from the st. fed saying he didn't think that would actually change the fed's process that much did the vice president or his staff tell you exactly what their expectation would be, what would change if the fed's dual mandate were to change to just one thing? >> yeah. the vice president said this is not something he has discussed with the president obviously it is not at that level yet. you about it is something he kicked around since his years in congress he had legislation back in congress that would do exactly that, folk us the dual mandate just on inflation not on employment as i said earlier the idea here is that if they are just focused on inflation and you have a situation like you have now where inflation is relatively low and the economy is strong you don't necessarily have to stop cutting rates or start raising rates because ultimately the fed will have more freedom to let it rip that seems to be what the vice president is talking about, backing up the president's point that he wants to s

james bullard told bloomberg this week that inflation is a worry. u.s.ion regulator says it is making progress with its foreign counterpart over how to return the 737 max 8 to the skies. regulatorsls brief from more than 30 countries on the steps it will take to recertify the ground plane. boeing is redesigning a software system implicated in fatal crashes and expects to submit a final fix soon. global news, 24 hours a day, on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i am ed ludlow. this is bloomberg. kathleen, paul. paul: all right. thanks for a much for that. coming up next, caught in the crossfire, we will ask how the fight between china and the u.s. is affecting the rollout of 5g. this is bloomberg. ♪ kathleen: we are counting down to asia's first major markets open this morning. we are taking a nice beautiful sunny morning shot of seoul. you can see futures maybe not too surprising, pointing a little bit lower. about .5%. counting down also to australia, japan. it is all about u.s., i

louis fed president james bullard and this is what he had to say in terms of our timetable on when fedount. >> for this to affect fed policy, it would have to be about six months? david: there you heard it, six months before the fed has to start doing something about it. is that accurate for you? we were hearing that by the end of this year, there was start looking up. >> i think you see put positives out there. consumers remain in pretty good shape. if the tariffs stay in place, it could weigh on consumers' overall spending. the morning we did concern, though, is the prolonged uncertainty and what it does to the investment plans. businesses are having to think ahead in this situation. if you see the pullback in investment, the fed might have to react a little bit before that, just given the overall hit to growth but that can cause. add that businesses are getting more cautious about investment, they are also probably getting cautious about investment plans and about could also fit into consumer spending. lisa: currently, 10-year yields are the lowest is october, 2017, 30 year yields i

louis fed president james bullard.t isn't every day that we have a vice president on talking about a fed, about the fed and fed policy and i get to throw it at president, a voting member of the fomc, who says you ought to be lowering rates and maybe not considering the employment mandate, just have an inflation mandate. take it away >> i actually have supported single mandate for the fed in the past i've said that it would clarify what the fed can actually do over the medium term i don't think actual policy would change very much we would still react to the economy and everything, but it would clarify in people's minds that the only thing the fed can do over the immediamedium term s control the inflation rate. >> do they have a point that growth is strong, inflation is low and the fed ought to be cutting rates and if it did cut rates, the economy would sorar >> the way you think about the current situation, you have to step back a little bit there has been a sea change in u.s. monetary policies since january 4th when t

overnight in hong kong, james bullard making the case for lower rates saying, quote, a downward policy even with relatively good real economic performance may help maintain the credibility of the fomc's inflation target going forward, which may become a more attractive option if inflation data continue to disappoint. joining us now is gabriela santos, global market strategist, and brian jacobson, multiasset strategist from wells fargo. good to see you both bullard is more on the market side of the coin when it comes to the federal reserve cutting rates. but the center of the fed does not seem to be there is that going to be a problem for this market? >> yes, i think when we look at the minutes when they come out, i think the inflation question is crucial to understand where most members of the fomc are are most members with bullard, thinking some of this transitory fall in inflation might not be so transitory, may warrant a rate cut, or most members with chair powell who do believe that this is transitory and a pause is enough to deal with the inflation question i think that's up for g

there was commentary if they -- we have the federal reserve president james bullard question aboute a tool. he had the point that if they were to do that, it would not be a very effective one. i think it is a broad view of that china would be certainly pulling the nuclear option. much, ourthink you so bloomberg chief economics correspondent. there has been a shift in the markets, at least a lot of research that i get. could see this trade war for five years or 10 years. and it could get worse. what does it mean for how the market reacts? >> i say that you are right. moving toward a cautionary pessimistic outlook on the tray discussion. i say we have to get used to this new normal. a prolonged approach to look at tariffs and structural issues. we have seen the combination of those two. by definition, it should be more protected. how should markets bill this in? the second is the ability for growth to be significantly higher. becoming less and less likely. holding that duration at current levels still makes sense alongside having some risk. the preferred option is to be invested in cred

james bullard, 7:00 p.m. coming from asia."surveillance," tom and francine from london and new york. theresa may facing another showdown with her cabinet, making one last push for her divorce deal with the european union. pro brexit ministers are expected to leave the objections . the cabinet are expected to debate proposals making the deal more attractive to opposition parties. this is like political posturing. run me through the different scenarios. we still have like 15 options open. if we have theresa may succeeded by a pro brexit prime minister, does it make it more likely to go to a general election? stephanie: for what it is worth, it is more likely that you will have a referendum after this. if you can imagine someone who has just come in who feels they are quite likely to lose an election, although polls are not looking great for labour, they do not look great for the or tories either, and the alternative might be a referendum. if it is someone like boris johnson, they do not want that to be seen like a betrayal of th

taylor at 8:40 eastern time today after the numbers break and he'll have live interviews with james bullardter along with robert kaplan shares of meat substance maker beyond meat are once again jumping again in the premarket the stock went public at $25 per share, finished the day trading at $65.75, making it the most successful unicorn, decacorn going so far we're looking right now at that stock up another 10% in the premarket. you always have to then wonder, was it a successful ipo or not, given the pricing of it all. looks successful it means the company lost out on a lot of that big gain in terms of the cash that would have gone to their own coffers. >> what they had left and didn't sell is now worth $73 -- >> worth more as well. >>> verizon is seeking buyers for tumblr tumblr is among the assets verizon acquired back when it bought yahoo in 2017 the paper says it's unclear how much verizon might get for tumblr and there's no guarantee that a sale will actually happen tumblr was really sort of the big franchise merger or acquisition under marissa mayer's leadership of yahoo at the time

louis fed president james bullard, a frequent guest on the show said further weakness in inflation couldthe fed to cut interest rates, even if economic gains momentum he made the comments in hong kong bullard said a downward rate with relatively good economic performance may help maintain the credibility of the fed's inflation target not totally different from what he said last time he was on here >> yeah, but people are taking it a little bit more serious. >> a lot of people are shifting. it's that crazy dual mandate you've got two masters, and either it's price stability or growth, and it's hard, if you really only wanted price stability, you wouldn't necessarily worry. you'dment as much growth as -- you'd want as much growth as you can -- we think overheating automatically means you need to put the brakes on. what would china interest rates be at 6%, you would be like, wow, this can't last, but what if we could grow quicker and inflation stayed low because of technology or automation, whatever you want to tie it to we want growth, right? >> then it becomes complicated. >> we for a whi