let's listen to janet yellen.et: given that monetary policy affects economic activity with substantial lag, it would be imprudent to keep monetary policy on hold until inflation is back to 2%. >> inputted to leave monetary policy until inflation gets to 2%. >> she looks at the strength of the labor market, something that is very important. this is worthy of where the economy is. let's look at #btv 776. this shows the white line of the main. janet yellen said in her speech that beaches continue to move higher. she is seeing signs of that but you see how they track each other. now it is lightweight is are moved flat. it doesn't like it will move up just yet. as far as what is happening next, this is something i think that is very important in getting the markets on board with her expectations. they will need to and be justified in raising rates on december. let's look at #btv 80 to 90. we are looking at a compilation of a world just rate projection. you can see how the chances of a septembermoved from -- they moved

there are many in lockstep with janet yellen on one more rate hike read you think janet yellen raisedabout this view that if we do not hike soon enough, it will hurt the economy? dan: it is safe to take away from this, and certainly from the fomc last week, that december is definitely on the table. there is reiteration that with a gradual hike, they will get the 2% eventually. we will stabilize around that level. airings give quite some to this idea that they could be wrong. they could be imperfectly understanding the link between the labor market and inflation. they could be imperfectly understanding of inflation itself. the reason that jumped out at me, this is the question potential bankers around the world are asking. it is not a uniquely american phenomenon. chris: i do think it is interesting the way she frames it. she is talking about inflation being low this year, which makes the idea of transitory factors credible. what she does not talk about is, inflation has been under 2% for 20 of the last 25 years. which makes transitory factors a little less credible. there bis has fact

janet yellen tried to make that pretty clear.t the balance sheet, unwind, put it on a shelf, let it happen. now that distraction is out of the way. they want to get back to rate normalization. i think that is what they will do. for them to interrupt balance sheet normalization, you would have to have a major downturn in the economy, or a significant financial problem. liz: jim frischling, say you had those things, where are you assaulting money to protect you from that kind of issue? >> sure. actually i really believe that people left europe for dead, on or about "brexit." if you look at valuations, they are about half, price to earnings valuations of some european etfs, half of that what we're seeing in the u.s. europe is not dead. i think people like germany, italy, spain are worth taking a look right now. liz: great to see both of you. ward mccarthy, jim frischling in a jam-packed hour with janet yellen saying we're ready to get back to normal but boy it will be slow. we thank our jewish friends for the new year, rosh hashanah

julie: i want to bring what janet yellen had to say in a statement. and -- herand -- lifelong represented the port internationally and lead our efforts to foster financial stability." obviously, a glowing commentary from janet yellen as sort of an economic policy fan boy, imagining the conversation that must have hadcher over the years and that dynamic no longer present at the fed after the middle of next month. it is difficult to imagine now with two potential slots of the grabs with the dynamics will be. michael: it's a little guys the idea -- it solidifies the idea they would go with the announcement in september because that is some debate agreed on. there were not the question. he has time his departure for after that meeting and it looks like that with something that they would get accomplished so he could run in the background while other drama takes face. as marty says, the idea of a december rate increase up in the air, a lot will depend on now of the views of the people who will be voting on it and there is one fewer person who might be in t

share a stagell with janet yellen today.a lady thatthere is a e on juliette -- take stage on bloomberg daybreak every day, juliette saly. juliette: capital partners are clawing partners -- exploring options. according to people familiar with the matter, the controlling shareholders of the drugmaker have held talks with shanghai pharmaceuticals focusing on the so -- focusing on the cell. jaguar land rover is scouting for acquisitions of international automakers amid rising competition in the industry. according to people with knowledge, the luxury unit has been holding internal discussions on buying other brands to diversify the branch of vehicles to sell. kkr is said to be trying to deflate desperate sweet apple to switch sides and join the avid that this comes days after the japanese company says it agreed to sell the unit to another group led by bain capital for $18 billion. yet toone maker has pain.with that is your bloomberg business flash. manus: the president macron makes a speech later on this afternoon. he makes a pr

>>> tonight, janet jackson back on stage after baby. >> i'm in houston with beyonce in her chufrp. together with blue ivy how she's helping out. plus janet jackson back after baby and how she shocked fans after her first show. >>> plus, mel b accused of drug abuse. new information about her nasty custody battle. >>> and then, sara gilbert on the return of "roseanne." >>> and heidi klum fashion tips. >> you buy your groceries and boom you see a head to toe leopard suit. why not? >>> for sebeptemr 8th, 2017, this is "entertainment tonight." >> from beyonce to janet jackson the biggest pop stars in the world zeroing in on houston to lend their support to victims of hurricane harvey. >> this is the celebration of survival. y'all are my family. houston is my home. >> returning to her hometown of houston left devastated with hurricane harvey beyonce with blue ivy went to her hometown church. she gave a friendly wave before taking the stage with mom tina. >> it's so sentimental seeing beyonce here. she hasn't been able to come for a long time. she started singing on this stage. >> tuesday

apart from janet yellen, there are 11 other fed positions speaking next week.o understand long end rates, inflation, what gives them confidence on inflation. i will be watching mario draghi little more. he has to signal. jonathan: that is the guidance. it doesn't look like they have a clue what they are going to do yet. greg: it does not look that way. the last meeting, the market interpreted that there is something to do in october. i think all eyes are on him to clarify that statement even though he did not say anything. markets are looking for him to clarify. jonathan: what is your base case now? greg: i think it is steady as she goes. if you look at inflation numbers, that are lower today, i think there are real challenges that are structural. they have to do something. i do think they may announce something, but they could also extend it at the same time. jonathan: has janet yellen made mario draghi's life a little more difficult? colin: definitely. there's no doubt about that. she makes my life more difficult because within the fed we have no idea if they

in the aftermath of the financial crisis janet yellen has. done the same thing i mean how does this bode for the future of the fed how much sway does he have he was a very close confidant of janet yellen he absolutely was they were on the same page when it came to making sure that some of the stronger regulations that they feel made the banking system that much more resilient in the face of the next recession stay in place and randi corals on the opposite of the spectrum has been very public in saying that some of the need to be tapered back toned down tempered which obviously is very friendly towards the banking sector so it will be interesting to see to get those two in a room without stanley fischer again of corals it's confirmed ok you know i've got to ask you something because you've come on the show before and we've we've talked about the. feeling on the fed stanley fischer was appointed to the fed in two thousand and fourteen barack obama economics professor at mit governor of the bank of israel two thousand and four to two thousand an

most of those gains came before janet yellen's speech. after it there wasn't much further reaction to the upside in the dollar. today there is around 0.5%. the dollar is moving higher against all of those currency pairs. the euro, yen and the british pound. being cited as that relatively hawkish line or two in janet yellen's speech. because slightly delayed reaction for currency pairs. euro has been on a slide eventually the most pronounced of those dollar strength across the board. gold prices for you, down three quarters of a percent yesterday. now to the wall street agenda, a pair of economic reports, durable goods out at 8:30 a.m. eastern, followed by pending home sales at 10:00. several fed officials are speaking today, including neel kashkari, james bullard, lael brainard and eric rosen grin as for earnings, one notable earning, thor industries >>> shares of nike are low their morning despite better than expected results the company reporting its slowest quarterly sales growth in seven years north american sales are a weak spot join

janet yellen, she is in a tough spot. by the way there is a lot of questions as to whether or not she will be the person to oversee this, right? because donald trump hasn't necessarily expressed enormous support for her. he has endorsed her here and there but there was a lot of speculation for some time that gary cohn, formerly of goldman sachs, might be the guy to take her job. i think that died down considering, remember the letter he wrote after charlottesville but is she really going to be the one that will oversee this? is it important that she does? douglas holtz-eakin? >> i don't know that it will be janet yellen. i don't think that is by any means clear. it is not obviously the who the front-runner is if it is not janet yellen. trish: hang on. i think she is coming to the podium right now. she is taking a seat. reporters are anxious. they want to hear what miss yellen, fed chair has to say about how this whole unwinding process will work. let's listen. >> at our meeting that concluded earlier today my colleagues a

>>> tonight, janet jackson back on stage after baby. ♪ how she's helping hurricane victims in houston>> then -- katie holmes owning the streets of new york. and gushing over jamie foxx. >>> plus, mel b accused of drug abuse. her nasty custody battle. >>> and then, sara gilbert on the return of "roseanne." >>> and heidi klum fashion tips. >>> for september 8th, 2017, this is "entertainment tonight." >>> and janet jackson, helping out houston. >> janet came here because it's the stop on her world tour, was supposed to be a celebration. but now, in the aftermath of hurricane harvey, she's in the convention center helping those who need help the most. ♪ >> taking her rhythm nation proclamation and putting into action, she spent time face to face with evacuees. jennifer garner also helping out. tomorrow night, janet will perform here, and will dedicate the show to all of the hurricane harvey victims. she will also donate all the proceeds to flood relief charities. >> you guys have been so inviting, welcoming, hospitable. >>> her tour kicked off last night, showing her 65-pound post baby we

." ♪ jonathan: coming up, janet yellen brushes aside plans to the lowflation story -- plans to unwind balance sheet and entities up another rate hike before year's end. geo politics fuels the bid as north korea threatens to deliver a hard-line response to president trump. and beyond toys "r" us filing for bankruptcy, heavy debt loads continue to haunt retailers. we start with a big issue. why unwinding a $4.5 trillion balance sheet is apparently nothing to worry about. >> i imagine janet yellen is doing cartwheels behind the scenes at how well the market has taken the balance sheet reduction plan and announcement. >> the fed wants this to be like watching paint dry for us. this will be very boring. it is all preannounced. it was all very transparent. there was no surprise in the announcement yesterday. and so, i think we will be watching quantitative tightening in slow motion. >> i think that what she is trying to do is as little as possible. she introduced tightening in monetary policy, and she was trying to do as little as possible with the dots to keep them as unchanged as they cou

let's start with you, janet. you impressed 7 deal. let's start with you, janet. you impressed?deal. let's start with you, janet. you impressed? i was impressed by the speech. it was the miracle of political and diplomatic rhetoric. it was fantastic. she did notjust heel resting her party and cabinet, but wrong—footed what you might call the anti—diplomacy of the eu. the graciousness of it and the generosity of makes it difficult for michel barnier and jean—claude juncker types to come back with their usual response. although it did not released at michel barnier. he was there pretty much three hours after her speech. of course, it was short on detail. what the eu means by more detail is more money. what british politicians and public want by more detail is what is this really going to mean. we still don't really going to mean. we still don't really know. the most critical issues for people who voted leave and the brexit kevin barron party, the european court ofjustice, it is critical, taking back our own law and taking back control of our borders. she made gestures in both of t

janet yellen speaks later on. we have seen the dollar bounceback as we have seen european liquidity stocks coming into the market at what are we looking at? overnight, in terms of fx trading, vrable bounced back a little bit. -- the ruble bounced back a little bit. the yen is treading higher, up by .2%. the election story factors in their. -- factors in there. let's spend that off and talk about what else is going on, the commodity story is very interesting. you have the kurdish story in the oil market. you have what is happening in .7%.r which is up by the number commodity index is trading up. -- the bloomberg monte index is trading up. keep an i on what is happening with oil, the geopolitical story .n their -- in there a lot of people saying the curve is wrong when it comes to the oil market right now. let's get a bloomberg business flash update with juliette saly. juliette: the us has discussed for a five ways to deal with north korea according to h.r. mcmaster. he said some of the choices are uglier than other

janet, let's start with you. were you impressed by the speech in florence there?ssed by the speech. it was a miracle of the diplomatic and political rhetoric. i am not trying to be sarcastic. it was phenomenal as a speech in that not only did you manage to heal whatever red stemming have been in her cabinet and party, but she wrong—footed what you might call the anti—diplomacy of the eu. the really quite obnoxious rhetoric that has come at brussels and the eu commission, being the graciousness of it and the generosity of it, the warmth of its... it makes it difficult for the michel barniers etc to come back with their usual sort of riposte. he was there already even three hours after her speech. but it was short on detail. what the eu means by, "we want more detail," is "we want more money." what british politicians and the public want by more detail, is what is this really mean? we still don't really know. the most critical issues for people who voted leave and the brexit camp within her own party, the jurisdiction of the whole european court ofjustice, critical,

chair janet yellen sticks to the rate hike path, brushing aside the inflation mystery. >> what we need do is figure out whether or not the factors that have lowered inflation are likely to prove persistent or they're likely to prove transitory >>> the fed bank boost reaches europe as the sector hits a one-month high amid reports unicredit is eyeing commerzbank for a megamerger >>> anglo american shares jump after indian billionaire anil agarwal ups his stake, making him the south african miner's top shareholder. >>> protesters are arrested in barcelona after tens of thousands take to the streets to demonstrate against spanish police raids of government offices, in a bid to block the catalan referendum.. >>> good morning it's thursday. a busy morning for us here let's kick things off with the stoxx 600. we are up to the tune of 0.2%. just off session highs one hour into the trading session we have a couple big stories going on we have the fed impact and we've got some m&a stories circulating around commerzbank before we do that, here's a look at the indices one by one. all of them are f

yellen.o believe janet iso believe the u.s.ng and i do believe there will be a rate hike in december. this time i think it is real. i think markets will take it in stride. tom: good morning, sir. wonderful to speak with you and your expertise on national resources and hydrocarbons. let me bring up a chart we put up yesterday, folks. i would suggest this is tied into central bankers and their restrictive policies. we go with one of the great bear starts out there. would you suggest as a look at central bankers struggling to become more restrictive or to get back to some form of neutrality, that that could signal a resurgence of commodities? could we even begin to discuss the end of the commodity bear market? >> i don't think so. there are very broad dynamics in relation to the advent of commodities. of course, there is the rate cycle. the chinese economy is probably the biggest driver. and of course, you have the new change and the wohole in dynamics around energy, renewables and so on. i think these dynamics will come into play

fed chair janet yellen.resident trump is planning a 20% corporate tax rate and a maximum personal income tax level of 35%. details are said to be unveiled during a speech which he will deliver in indiana. let's join mark cudmore, joining us from singapore. let's talk about janet yellen first of all. she is pretty clear that she has put december on the table. she is talking about the fact that she is not too worried about inflation, she does not understand what is going on so she will crack on. the market seems unconvinced. is that the right trade? mark: they will regret being unconvinced. the fed was definitely hawkish down to data moved dependence and said it ignore the fact there is no inflation. the economy cannot cope with the rate hike for them not to hike. janet yellen reiterated that point and yet the move in rates and the dollar has been subdued. in the last couple of hours we getted to see the dollar more of a bid and u.s. rates tick up but this morning was surprising, i was reading one comment in t

scarlet: janet yellen pressed on that during the news conference.ive us your final thoughts from the central bank, michael. michael: how long does this policy path last? if conditions don't change significantly, they will raise rates. 2018 is going to see a whole new fed. she said she hopes the president will start appointing people. that will change the outlook and the way they make policy. there isn't a real long-term path. you should always have the last question of the press conference. killer. ira jersey. ira: we need to wait for the treasury department. that will be the next thing. how will a deal with the fed runoff? carl: we need to tighten policy. you see in the spread of the dots a huge variance over the next several years. not a strong consensus. scarlet: we will see how that shakes out. ira riccadonna nad i -- and jersey. michael mckeen. --michael mckee. tom: i have been up for 12 hours. ourlet: that doesn't for special coverage of the 12 decision. coming up, a power panel from our global business forum. -- that doesn't for our special c

pour for janet fans who do miss her much. there's good news. were rumors that janet jackson's concert in houston was possibly being called off. jackson says fear not, she'll be there. >> she took to instagram to tell her fans directly, she will attend her tour date despite hurricane harvey. plus, she says she has something special for hurricane victims. >> i'm here to tell you that we're going to do the show in houston, but we're going to roll in early, because we visit some of the shelters. and not just visit some of the shelters. we also want to do something special for the victims. so i will see you friday. >> so jackson is set to take the stage saturday night at houston's toyota center. >>> meanwhile, beyonce, barbra streisand and oprah will headline a one-hour telethon for victims of hurricane harvey. >> the event will be simulcast live on september 12th on abc and other networks, on tape delay for the west coast, streamed on facebook, youtube and twitter. >>> next, what we're learning this morning about the newest bachelor. >> so fans wer

this is following janet yellen's term.or the position remains open according to administration officials. >> warsh is not far from a standard banker, although he has slight differences in policy prescriptions. he does not like policy rules, like the taylor rule, he does not think they are accurate enough. he would go to a range for inflation, rather than a point target, like 2% right now. he thinks that we have been within an acceptable range for the past couple years. now the question is, how would he go over at the fed? he has angered some at the fed with some sharp criticisms on the way that the board has organized and governed, so it could be an issue. >> the electric power authority in puerto rico ravaged by the hurricane, now with the entire island without power. and bonds have been offered that would include a $1 billion loan and an influx of capital when it is needed. >> we have come up with a proposal on lending with the -- with a sub 6% interest rate, providing a substantial chunk of new capital. it is fair to sa

pretty interesting when you consider that one of his mentors is janet yellen.ooks like it was brought on it seems to me. shery: daniel moss, thank you very much. is set coming up, amazon to unveil a hold a range of products today at the companies seattle headquarters. what should consumers and competitors may be more importantly expect? we will have more next. this is bloomberg. ♪ shery: welcome back. this is "bloomberg markets." i'm shery ahn. vonnie: i vonnie quinn. micron technology of more than 7% after reporting earnings that beat. on top of that, the memory and storage chipmaker forecast another strong quarter. joining us now is taylor riggs. taylor: it's all about the future forecast revenue growth and matching expectations. they are expecting growth to be 60% and that's a pretty good especially after they came up two quarters of 90% growth each, so really making a lot of games. if you look at the numbers, you're looking at $6.3 billion. this time a year ago you are less than $4 billion. if you take back on a long-term chart, you can see how high they ar

taking part in the discussion, former homeland security secretary janet napolitano. this is about 90 minutes. [inaudible conversations] >> good morning, everyone. i am elaine kamarck, director of the center for public management at the brookings institution. thank you for coming out on a friday morning to talk about this incredibly important issue. we have a great panel for you. we have a c-span audience, live webcast. anyone who would like to tweet, us immigration and hope to have a good discussion both here and online. this -- way back when, when i was a graduate student at the university of california berkeley where secretary janet napolitano runs these days, we learned about wedge issues, those things that really divided the electorate, got everybody excited. everyone had an opinion about. immigration has become a wedge issue. wedge issues come and go depending upon the year. clearly since 2015 when donald trump started to run for office immigration has been at the forefront in terms of one of the wedge issues. it divides not just democrats and republicans but it

you got to take janet yellen at her word.said all decisions are data-dependent, well, it is a slow-moving process. this is not a contract, this is their forecast. things turn out differently than they forecast, then they will not deliver. betty: we are waiting for the boj as well later today. do you think this makes anything more cloudy for the boj? they are looking at it from the flipside. dollar appreciation means the yen depreciation. what governor kuroda has had a hard time doing is generating inflation. anything that can help him is probably welcome news. reinhardt, chief economist, joining us live from boston. i also want to thank kathleen hays. plenty more to come. this is bloomberg. ♪ ♪ betty: this is "daybreak asia."i am betty liu in new york. yvonne: and i am yvonne man in hong kong. the world bank is selling insurance operations. it makes it the biggest acquisition by the hong kong-based in sure. cba disclosed in august they were in discussion with third parties about the unit. they were also -- betty: bloomberg ha

in the news conference with fed chair janet yellen.ink they will continue to be transparent, walk you through every step of the way what they are trying to do. they don't want any surprises. it got them in trouble in the past. we saw the temper tantrum. they don't want that. we are listening to what they have to say and they will try to end things. jonathan: here's the thing i don't get, kathy. will we get the summary of economic projections? we have laughed about it before. we don't know who is going to be at the fed. on the base case for year end 2018, they are seeing rates pretty much where the 10-year is now for the fed funds rate, just north of 2.10. we are at 2.20 on the 10-year. either someone is really wrong, the treasury market or the fed, or the yield curve is just going to look like this. dead flat. which one is it going to be? kathy: someone is wrong. i think the fed will probably bring down some of their dots. we will get 2020 now for the first time as well. jonathan: for whatever that is worth. kathy: well, for whatever t

chief janet yellen announcing a reduction in the bond buying program.he is facing a tough balancing act between embracing the ongoing economic recovery, and worrying over a recent drop in inflation. and when she speaks, the business world is listening and if so is our financial correspondent at the new york stock exchange. good to see you. ok, based on what you have heard and what we have heard, will we see a further rate hike this year? correspondent: it seems so. over the last couple days, the futures were already looking at the possibility of the rate hike this year, probably in december after conversations and washington about tax cuts and the fiscal stimulus. today, after the dot plot was published, expectations have skyrocketed to over 70% in favor of a 25 basis point increase by mid-december, that will lock the short-term interest rates between a range of 1.25-1 .5%. and janet yellen said the path will increase, but if you want, let's listen exactly to what she said. janet yellen: we have raised the funds rate four times and we believe we are on

coming at us >> larry, we'll start to unwind this balance sheet predictably, gradually in the words of janet yellen we're at 4.5 trillion now. before the crisis, we were at 1 trillion what do you think the ultimate goal is for where we want to see the balance sheet end up >> 2 1/2 years from now they want it below 3 trillion,now we're at 4 trillion. but, you know, more importantly it's about expectations. a month ago the street was telling us that they were not going to hike december and start the balance sheet. now it's looking like they'll walk and chew gum at the same time the fed will take the balance sheet down and start to hike at the same time which has never been done in the history of american finance. so that is a surprise. >> quickly coming back to your first point. what could derail their plans to continue down the path or more importantly the u.s. economy you are saying the dollar could, if the dollar does strengthen we'll see pressure on both of those factors? >> no, i think they're behind the curve in the sense that think about the global picture stimulating the economy and th

and janet yellen speaks and caution is the message. >> this is a topic that we do not understand it all and we may have made mistakes. >> a finance ministers speaking of. >> we are at a turning point. we have turned a corner. >> and we explain the appeal of trading bitcoin. >> i always tell people i need a story and a chart. >> and exclusive investment in sight. >> call me a cynic, but i think there could be a little disappointment ahead of us. >> all ahead on "bloomberg best." host: welcome. i'm yvonne man. bloomberg best, a weekly review of the most important business news, analysis and interviews from bloomberg television around the world. it was a momentous week in politics and policy across the globe, starting with a closely watched election in germany. angela merkel has won a fourth term as chancellor, but her victory was marred by support for the populace party and a clear rebuke to her open door policy on refugees. mainne of her mine -- partners now want to be part of the opposition. who will she build a coalition with? >> with the liberals and greens, that is their only choice

." ♪ jonathan: coming up, janet yellen brushes aside plans to unwind the balance sheet and entities upther rate hike before year's end. geo politics fuels the bid as north korea threatens to deliver a hard-line response to president trump. and beyond toys "r" us filing for bankruptcy, heavy debt loads continue to haunt retailers. we start with a big issue. why unwinding a $4.5 trillion balance sheet is apparently nothing to worry about. >> i imagine janet yellen is doing cartwheels behind the scenes at how well the market has taken the balance sheet reduction plan and announcement. to be likewants this watching paint dry for us. this will be very boring. it is all preannounced. it was all very transparent. there was no surprise in the announcement yesterday. and so, i think we will be watching quantitative tightening in slow motion. >> i think she is trying to do as little as possible. she introduced tightening in monetary policy, and she was trying to do as little as possible with the dots to keep them as unchanged as they could be in the next 12 months so beyond that they can make th

maybe it's the topic janet chose. traders on this floor, they don't care about the reasons day like the normalization going on even if that's the right word. slightly higher rates. they've been too low for too long let's balance sheet. it's been too big for too long exactly between the last fed meeting and the long press conference, where there was a lot of head scratching by the group regarding why inflation has been so tame, it seems like all of a sudden, in just a couple weeks, there's so much more knowledge about the future being more highly inflationary didn't really make sense to any. i splash water on my face, too, just because i don't understand how in a couple weeks so many things could change, but at the end of the day, the timing's right, they're doing the right thing. the pace isn't bad let's leave it at that >> and keith, the markets mixed still this afternoon the russell still continuing its march higher for those small caps and we still have to think about why names like facebook were down 5% yesterday.

yellen one is janet going to be nominated again?t does not look like there is a large field that are out there. many who have been talked about, kevin walsh, john taylor, and others, are pretty hawkish. one assumes that they would not be happy with that. the expectation is probably, because there is such a short list, janet yellen will get nominated again. a good question is -- whether she would take the nomination? it looks like a poisoned chalice. uncertainty reigns. lots of the posts as governor still to be filled. we do not know. i think the appointment of janet what whole thing's pretty steady. like the most likely course but does not look like there are many other real contenders. vonnie: the president does not tend to do what everyone expects he will do and changes his mind often at the last minute. what if somebody hawkish like john taylor or kevin walsh, economist, chief economy positions are in the very hawkish region been art laffer, and advisor. what would happen were the fed to change over and there will be interest rat

he is also a supporter of janet yellen.th the coming departure of stan fischer, it is a triumvirate. as a matter of fact, he said he was surprised by the inflation shortfall in does see inflation rising back to 2%. over the medium-term, that is the boilerplate for saying, maybe not right away, but over time it will get there. he thinks the path should be gradual. valuations, overvalued stocks some are not particularly troublesome. he is ready to raise rates if that is what is called for. the president of the cleveland fed, more of a hawk on monetary policy, said earlier she double down on rate hikes. it could return over the next year or so toward 2% on a sustainable basis. she said she is comfortable with another hike this year. in her mind, the fed waits until march of next year to make a move, that is not gradual. she is saying that is moving too slowly. esther george, said she is watching the data. but she would like to raise rates. speaking about an hour from now. we are getting a lot of indications from fed speakers.

we're all waiting to see what nuances we got from janet yellen's speech, she had a 37-page speech yesterday opacity in labor markets, opacity in inflation and what's going on with wages was the central theme. net-net those market participants who originally thought a 40% chance of a rite hike in december now think there's a 76% chance i have not seen anything that changed from her record and the rest of the fomc in that period. wonder if they'll change their minds on the markets on whether there's more chance of rate hikes in 2018. the fed still sees 100 basis points the market 40. today your focus should be on tax stateside. it looks like congress and some key gop politicians will outline what they see on corporate tax going forward. let's look at the markets. the banking sector, 1.3% higher. that's one of the best performing sectors so far by a country mile basic resources doing well construction material, insurers on the upside. to the down side, some of those defensive bias sectors, such as utilities, food and beverage and healthcare under pressure. ♪ >>> siemens and alstom are merging

i mean what is going on with janet janet napolitano and the academics there in teaching the value ofe speech? >> well of course the left never accepts self-responsibility. i'm not surprised they're not taking ownership for creating antifa to begin with but this project of creating safe space and trigger warnings is meant to blur the lines between violence and speech and to clarify speech in action so they can justify hitting you over the head as they disagree with you because they believe speech is considered violent so for example, when she gives a speech at uc berkeley they say that speech is violent and there for it's necessary to bash him over the head for it. that includes me as a student. >> liz: it should be preemptive violence to protect themselves. this is the pot calling kettle fascist and there's reports the event is going to be cancelled is that true? well the berkeley patriot again the conservative organization hosting this event is having a press conference tomorrow, but we'll see. again for the berkeley college republicans we had three events cancelled because of lefti

he was engaged to a woman named janet miriam. she lived in texas and learned of lynne's disappearance long distance. >> cliff had called me and said he had -- i believe had received a phone call stating that lynne had disappeared. they found lynne's car, and they didn't know where she was. >> reporter: this is a very traumatic thing that's gone. he's lost his mother. did you shield him from it -- >> okay, the news, we shielded christian as much as possible. >> this area -- >> reporter: meanwhile, the massive investigation into lynne friend's disappearance had one goal -- to find her or at least her body if she was, in fact, dead. >> are you prepared to deal with the worst? >> no. no. i cannot think that. i will not think that. lynne is -- lynne is the woman that i'm going to marry. she is my life. >> i think he really wanted to hold it together and to be dignified. >> reporter: jennifer snell was a reporter for miami's nbc station wtvj. >> i thought that as the word would come out of his mouth, he will realize what he was saying

or janet yellen i misread anything, if we loosen policy if inflation is lower? the most shocking thing i heard today? >> liz: how come why? >> we're on inflation pressure that was the no the case. liz: i loved it, inflation weakness may be transitory. meaning temporary. apparently it's not for the moment. >> at least for the moment. liz: what does an investor do? >> funny you should ask. we manage people's money. we see all kind of things. you listed three. there are variety of things that happen every given day. we caution investors focus on the long haul, be diversified. use appropriate investment vehicles to satisfy a long-term investment allocation. don't overreact to any news. not door number one, door number two, door number three. be patient, invest around a long-term strategy. liz: do your clients have a long-term strategy? what is your biggest position? >> we see what is going on in the marketplace. we see tech is hot and energy is not. if you rewiped the news, the opposite is true of health care and energy. they're flip-flopped. we tell clients be dive

start with janet yellen. >> janet yellen will speak here in cleveland before the association for businessve inflation higher. there is a general feeling it will happen. . unemployment goes down and inflation goes up. they're wondering what happened and why it's taking so long. we heard from bill dudley this morning. probably her closest ally in the fed saying it will go up reasonably soon but we are still waiting. >> to what extent are they waiting for congress and the president and tax reform? are they just basically putting that out of their mind at this point? >> it is a good question. these economists work for all the biggest companies in the matter -- in america. they found optimism about growth in the future and a lot of that is predicated on the idea of infrastructure reform. without it, we tread water. and head ofirector the associated general contractors of america, here is what he had to say about it. say a cautious increase, that businesses believe the economy will keep expanding. forecasters think we will see steady gross domestic product adjusted forgdp inflation, a little ov