my thanks to former fed chair janet yellen. something other than the fed's handling of the economy will be the focus of voters in 2020. ♪ ♪ ♪ ♪ jon: the federal reserve is a magnet for both hope and blame. when the economy and the stock market go south, investors, bankers and politicians all expect the fed to cut interest rates to soften the blow. sometimes the fed itself causes the economy's problems by pushing interest rates too high. right now the fed and it chairman, jay powell, are getting their share of both hope and blame. this year when the economy slowed, the fed started cutting rates. investors loved the news and stocks rallied. but president trump continues to criticize powell and the fed for raising rates too much in the first place. is the president right? in many other countries interest rates are negative right now compared to high u.s. rates, so he might have a point, but the fed is cheerily not the whole story. -- clearly not the whole story. one of the economy's big challenges is a trade war that mr. trump sta

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op-ed,ll street journal janet yellen, ben bernanke, alan greenspan, and paul volcker commented on president trump's recent attacks on the central bank. they say the chair must be able to act independently. president trump has delivered his most forceful condemnation of racism and white supremacy. this following the mass shootings this weekend that killed over 30 people. the president did call for new restrictions on gun ownership -- did not call for new restrictions on gun ownership. that thet recognize internet has provided a dangerous avenue to radicalized, performedminds and demented acts. we must shine light on the dark recesses of the internet and stop mass murders before they start. prime minister boris johnson's opponents are heartening plans to stop a no deal brexit. jeremy corbyn is signaling he will call a vote of no-confidence next month. mp saysbel to worry there is a growing number of hardrvatives against the brexit. china has reiterated its support for carrie lam as the financial hub cleaned up after a day of traffic chaos and more violence. according to the people's daily, ch

chair under jimmy carter and one of the dragon then old soul alan greenspan byrne bernanke and janet yellen they don't and they did not directly name us president donald trump but they said overall that it's not a good idea either to really. give react on politics from washington that this actually could worsen the situation so even if they did not name donald trump directly it was quite obvious where this letter was addressed to in the posture of u.s. president donald trump has again and again criticized his fed chairman general powell even after he and the federal reserve cut interest rates last week for the 1st time since the financial crisis that still was not good enough for u.s. president on from the fed chairs from the past weighing in on the present and carter there and wall street for us thank you. monetary policy of course is just one front in the fight between the 2 countries that chinese companies are no longer buying agricultural products from the united states after a recent promise to buy more is quote a body blow that's according to an american farming organization. it's alr

what we're seeing now, we had janet yellen on fox business say maybe this is overblown. lot of people are reacting. we haven't seen this type of bond yield inversion in over a decade. that's usually a concern that a recession is looming. however, she and others are saying maybe that's overblown. we have a lot of algorithms that can help with that selloff. >> dana: thank you for coming on. >> i hope it wasn't too confusing. >> dana: no, no, we get it. i think the best advice could be from janet yellen that it could be overblown. >> it could not be. everybody has an opinion. >> dana: thank you. and breaking new details on the where abouts of the woman who allegedly helped jeffrey epstein recruit young girls for a sex trafficking wing. a report claims she's hiding out in a new england beach town at a secluded mansion, but the owner says maxwell is not there. this as we learn more about investigation into epstein's apparent suicide. brian llenas is following all of this for us. so, do we know where maxwell is? >> reporter: dana, no, we do not know where she is right now. muc

and if you want to join us next week, our guest will be former federal reserve chair janet yellen. "wall street journal at large". thank you for joining us. lou: good evening everybody. these are treacherous times and now we have a fight that is just beginning for our rights under the 2nd amendment. president trump says both parties are in serious talks now to expand background checks. the president also saying the views of the national rifle association will be fully respected, and now the third most powerful republican in washington, mitch mcconnell, adds his voice, saying a ban on assault weapons will be one of the issues front and center when congress returns after labor day. the radical dems efforts to overthrow the president go on

janet yellen could be right. the other thing you mentioned, that is really important, is that the yield curve tends to lead the recession by a great period of time. you look 22 months. could be a year. we're talking about a recession starting but in june of 2020. a great deal can happen. i'm not sure we'll avoid a recession. but a great deal can happen in the financial markets between now and then and the message of the markets and the message of important economic variables says that we might have still further to go in the bull market or we might have positive markets between now and the time that recession starts. >> neil: lenoir, the old adage and i'll extend it to bull markets and recoveries, they don't die of their own acourt. they're murdered by unexpected government actions. what do you expect happening here? we haven't ruled out slow downs and corrections in the economy or markets. that's a natural healthy phenomenon. this could be a different case. what do you think? >> i think so. i think what we're lo

janet yellen, ben bernanke, alan greenspan, and paul volcker wrote in the washington journal that theindependently and in the best interest of the economy. ofderique carrier, head investment strategy at rbc wealth management is still with us. president trump does not really need to attack powell and demand interest rate cuts if he just plows on with the trade tensions. that seems to be resulting in lower interest rates already -- anyway. thatrique: that is pushing putting some pressure directly -- that is putting some pressure directly. .75% of interest decline between now and -- between last week and the end of the year. matt: so do you expect the fed acknowledge that they are worried about global growth or continue to acknowledge they are worried about global growth and not still just focused on employment and price increases? frederique: so the slowdown in global growth has been acknowledged. we have increases in tensions between china and the u.s.. there is -- the markets see jerome powell as being hawkish. nine press at his conferences he has had, in seven out of nine of them, on

what we are used to from mario draghi, janet yellen, alan greenspan, they really get the committee on a message, or at least come in with we are easing conditions, that is the thrust of the committee's move today. bestat way, you have the chance of easing financial conditions. if you come in and talk about maybe we will raise rates before confuses things.you go back and the reason i say that, his approach is, i'll just a completely transparent. in a way he reflected with the committee told us in june which is half of them do not want to cut at all. and they are getting dragged, kicking and screaming. what we saw in the fourth quarter of last year is the fed will be hiking right, but he said absolutely not. this is an unsustainable gap between yields and u.s. yields. it will be destabilizing. you are going to have to get on board with the global program. oksana: the issue here is that the market refuses to be weaned off of the central bank banking. the past couple days, the fed says we don't need anything other than an insurance cut, and the market hates it. the following day we have a

and if you want to join us next week, our guest will be former federal reserve chair janet yellen. journal at large". thank you for joining us. ♪ >> they hound everyone in show biz. >> look! it's ingrid bergman! janet leigh. there's natalie wood. >> ...and get their autograph... >> audrey hepburn. steve mcqueen. ronald reagan. >> ronald reagan? is that angelina jolie? >> ...thousands of them! >> it really became an obsession and a drug. >> an obsession that fathered this man's strange inheritance. >> i basically got hundreds and hundreds of boxes. >> this is truly unbelievable. what was your reaction when you saw the magnitude of what he had? >> i was blown away. >> but does the heir really know what he's signing up for? >> $4,250. now $4,500.

and if you want to join us next week, our guest will be former federal reserve chair janet yellen.urnal at large". thank you for joining us. >> a mysterious death. >> the story of my strange inheritance occurred when they fished my cousin's body out of the gowanus canal. >> a flood of questions. >> you think it's something sinister? >> i do think there's something going on. >> are the answers locked in storage? >> i just shook my head and i go, "oh, my god, this is a nightmare." >> he was, one might say, an idiot savant. nobody has what he had. howie frank had the best. >> he was sitting on a photo collection potentially worth $10 million. >> they dubbed him the "million dollar beggar." is it worth a million dollars? >> don't change that channel. it's a made-for-tv "strange inheritance." >> dy-no-mite! [ door creaks ] [ wind howls ]

and if you want to join us next week, our guest will be former federal reserve chair janet yellen. street journal at large". thank you for joining us. >> a regular old dad... >> all he said was, "who's gonna buy something from bill wagner?" >> turned art scene heavyweight. >> he went from very clean-cut to start wearing brighter-colored shirts, and then his hair grew long. >> how important a name is he? >> there are no comparables. >> he leaves behind a puzzle. >> oh, the sun is shining. or it's an egg. are you sure these go together? >> it's always a mystery. >> this is all your dad's? >> it's a very small portion of the art that he produced. >> how do you handle an 8-ton inheritance? >> every single day, i've thought, "what am i going to do with it?" [ door creaks ] [ wind howls ] [ thunder rumbles ] [ bird caws

i think what we are used to from a mario draghi, alan greenspan or janet yellen, is they get the committee on a message, or come in at least with -- we are easing conditions, that is the thrust of the committee's move today. no if's, and's or but's. in that way, you have the best chance of easing financial conditions. if you come in and talk about, maybe we will raise rates before we cut rates and you go back and forth, it confuses things. there are different ways of doing it. the reason i say that, his approach is, i'll just be completely transparent. in a way, he reflected what the committee told us in june which is half of them do not want to cut at all. and they mean it, and they are getting dragged, kicking and screaming. what we saw in the fourth quarter of last year is the fed will be hiking rates, and he said absolutely not. this is an unsustainable gap between u.s. yields and other yields. the u.s. is going to be to be destabilizing. you are going to have to get on board with the global program. oksana: the issue here is that the market absolutely refuses to be weaned off of the c

and if you want to join us next week, our guest will be former federal reserve chair janet yellen.t large". thank you for joining us. [ gongs chiming ] >> it's a "strange inheritance" "gong show." >> and this is the set of gongs. >> the very set? [ gongs chiming ] >> a piece of history. >> you want to liken it to a stradivarius except there's only one set of true puccini gongs. >> a musical mystery. >> how the heck did they end up in a warehouse in queens? [ drumroll plays ] >> but drumroll, please. [ castanets clicking musically ] can she strike a deal to fund her husband's dying wish? >> are you hoping that someone will see them and say, "here's a check"? >> you better believe it. [ door creaks ] [ wind howls ] [ thunder rumbles ] [ bird caws ] ♪

and if you want to join us next week, our guest will be former federal reserve chair janet yellen.l at large". thank you for joining us. - [narrator] the following is a paid advertisement for the hoover onepwr floormate jet. how do you typically clean your floors? do you make it a team event? (frantic music) do you do the sloppy shuffle? do you call in backup? cleaning your hard floors has always been hard work. first there's sweeping or vacuuming. then you haul out the mop and bucket. but does pushing dirty water around really get your floors as clean as you'd like? and then there's the joy of cleaning pet messes, or getting down on your hands and knees to scrub old, dried on, or sticky spills? sure, other products claim they make hard floor cleaning easy, but they still require lots of elbow grease, and they do nothing for large messes. sometimes you just wish there was an easier way.

has a lot of people spooked because it has been such accurate predictor in the past now we had janet yellen the former fed chair come out and say this might not actually be one and the important thing to remember is that it usually isn't immediate usually it's 12 to 18 months after you 1st see that in version but still it is something that spooked wall street and you saw that massive sell off all indications are that it could continue tomorrow as well just think it's going to get spooked wall street is going to pick the president you know we like to comment about these things being a businessman and so. oh he is definitely taking to twitter and here's what he's been doing the president's been set in this up he's been blaming the chairman of the federal reserve jay powell and he was doing that again today on twitter calling him clueless calling the inverted bond curve crazy he's been basically trying to blame the stumbling economy and the fed chair for what he's done with interest rates these floated out there that he could fire him he floated out there that he might demote him it's not at a

so i think we need to pay attention if janet yellen is saying the economy is probably not heading tohilsenrath, people can watch your entire interview with janet yellen former fed chief, tomorrow 9:30 p.m. eastern on the fox business network, great to see you, my friend. >> thank you. dagen: wal-mart to the rescue, futures reversing course after retail giant's earnings beat completely erases early morning losses by china's threat of retaliation against the u.s. crisis in hong kong as the people's army might be brought in to the city to end the unrest. stay with us. we trust usaa more than any other company out there. they give us excellent customer service, every time. our 18 year old was in an accident. usaa took care of her car rental, and getting her car towed. all i had to take care of was making sure that my daughter was ok. if i met another veteran, and they were with another insurance company, i would tell them, you need to join usaa because they have better rates, and better service. we're the gomez family... we're the rivera family... we're the kirby family, and we are usaa

. >> janet yellen said today it was possible it was a false signal b the bond market.t do you think? >> well, there have been instances where we've had t yield curve invert in the past and it hasn't led to recession, so there have been a few false signals. i think what she was referring to was the fact that in this particular case theeason short-term rates are above long-term rates is that long-term rates are falling rather than the reason being that rates are rising and the federal reserve is tightening policy by raising short-term rates. so because it is being led by the longer-term rates, s may be implying that this may not be consistent with t past. >> so what could change the situation? because this inversion came, as bob mentioned earlier, againl weak glogrowth, the numbers out of germany were bad, the numbers out of china were bad, which complicates the situation, doest not? >> absolutely. i think the falling long-ter yields in the united states and all around the world are flecting that slowdown in global growth and that fear of a global reces compounded by the

and if you want to join us next week, our guest will be former federal reserve chair janet yellen.t journal at large". thank you for joining us. ♪ ♪ >> in one voice our nation must condemn racism, bigotry and white supremacy. these sinister ideologies must be defeated. hate has no place in america. hatred warps the mind, ravages the heart and devours the soul. >> welcome to journal editorial report. i am david asman in this week for paul gigot. that, obvious, was president trump responding to last weekend's pair of mass shootings that left more than 30 people dead in el paso, texas, and dayton, ohio. those shootings spurring calls

of running afits hot labor market, janet yellen talked a little bit about that.es ben bernanke see about the limits of what monetary policy could do for some of the structural issues of the u.s. economy versus what jay powell did? skanda: chair bernanke, especially when he was arguing for qe, congress was pressing him on the idea, why are you doing this, it won't matter? he said, our policies make a difference only to a certain point. once you get to 5%, 6% unemployment, our role is really to step act. what jay powell is saying is, we do have a role to play at least in terms of cutting off that tail risk and, in the process, preserve the tight labor market and the benefits that come from that. overcoming of long-run weakness in a lot of communities. people who weren't hired before are now being hired. people written off because of their criminal records are now being given a second chance. romaine: does this run the risk of getting a little bit too far out what the mandate is or trying to redefine it in a way that congress didn't intend? skanda: it is not optimal

the fundamentals of our economy are strong enough, yesterday janet yellen talked about she felt the united states was strong enough not to fall into recession. i believe that is true. shannon: what's causing the global recession? >> the news that came out yesterday specifically related to germany having a shrinking economy as well as china. china is experiencing the hurt of the trade war, no question about it and for them to say they are in a bit of a slowdown with numbers coming out of china how much can you trust those numbers but that is an indication the global economy is slowing. >> what about what we heard yesterday, the inverted yield curve? >> basically the equivalent of going to a bank and getting a 5-year cd and the interest rate is less then a 2-year cd. it really doesn't make any sense so the same thing with the treasury. why would a 10 year treasury pay less interest than a 2-year treasury. it is inverted and that traditionally has been a sign of a recession for the last 50 years for the united states. shannon: traditionally but that might be the key word because we have a ver

here's what janet yellen had to say earlier today. >> are we going into a recession?nk the answer is most likely no. i think that the u.s. economy has enough strength to avoid that, but the odds have clearly risen and they are higher than i'm frankly comfortable with. connell: so earlier, bill, i was talking to i think it was john layfield. he said he thinks it's still below 50% but even that's not great odds, if you are talking about an actual recession. the second part about it is not only whether we get a recession. at some point we will. it's the timing. is it coming in six months or three years. >> right. look, i think it's a matter of a dart board thing. i don't know. i would certainly not want to be the person predicting a recession, right, to hurry it along in some way. connell: talk us into it. >> yeah. talk people into it. connell: down617 on on the dow. that takes away the 100 point gasparino cost us. >> we might have the recession. we're only growing 1 1/2 to 2%. going into election year president said i was able to get 2% obama growth up to three. if it i

for the stock market to claim a recession is coming but tonight the 1-time federal reserve chief janet yellen herself, and obama appointee says the us is likely not heading for recession anytime soon and that signals from the inverted yield curve are not telling the same story this time around. >> i would urge that on this location it would be a signal, the reason for that is there were a number of factors other than market expectations about the future interest rates pushing down long-term yields. >> rush limbaugh has a theory for what is behind the headlines blaring recession. >> it is really important that you not let all of this drive-by media fake economic news talk you into believing that we are on the verge of another gigantic recession or depression and keep in mind why all this is being said. there is a presidential election in 15 months and the people behind this hate donald trump. >> out of this inverted yield curve does predict a new recession it wouldn't happen for another 18 to 24 months after the next election. the standoff between police and armed gunmen in philadelphia contin

wonderful question because the democrats would not be upset with the federal reserve because when janet yellen in place she was implementing dodd-frank. the federal reserve is there to stabilize the u.s. economy. jerome powell seems to believe the world relies on what he says and does. he needs to stabilize the u.s. economy and he is constraining it. it is a real problem. kevin: there are many folks in the democratic party who say central banks all to be dashed off to be completely independent . these attacks are not helping the u.s. economy. is that something, kevin, you think former vice president joe biden will have to take a more aggressive stance on. markets run on confidence. i think you will see a return to sanity in our physical markets with a democrat after donald trump is not reelected. vonnie: cabin, how to the kevin, how don -- democrats proceed. we are seeing calls for impeachment and more and more calling for a move on that. at the same time, campaigns are getting off the ground. some are going in the opposite direction. we had another decide he was not going to run today. what s

on top of all of it, president trump's fed chair, janet yellen telling fox business she tells us shea recession in the near future. so what are they all griping about? do they want a recession in maybe you can will it into being? psychology matters. if you scare people enough, you just might get it. joining me, amy tarkanian and robin biro. what do you think about the media's effort to convince everyone that we are coming into a recession. >> they think we are suckers. they are attacking president trump's biggest asset, that's the economy. you just mentioned the positives. a wage increase, lowest unemployment in five years. we do have presidential candidates who are actually trying to run on this scare tactic. somebody like elizabeth warren who in the past has guessed correctly a few times. but what she she is doing is using it as a scare tactic. trish: i think if you have a socialist running during a recession be socialism is not the way to get out from under. robin, to me they are damned if they do, damned if they don't. when it comes to economics and the strategy of less regulatio

janet yellen was stampeded.r, she decided okay, i'm going to hike rates from zero to 25 basis points late december 2015. the market sold off like crazy. it was the worst two weeks of the market, start of a market in any period. she changed her mind, let the market -- ashley: charles, have we ever seen a situation like this with interest rates so low, so much money -- >> that's the question. ashley: negative yields. this is uncharted territory. >> that's what no one is talking about. >> $16 trillion in negative bonds. stuart: hold on. i have all this input coming at me. quick word from you? >> one thing i like about the fed is it is not as politicized as other central banks. as you know, mark carney, the canadian governor of the bank of england, is the most hated man there because he was the lead of project fear on brexit. stuart: yes, he was. >> to me, politicized central banking is one of the horrors of the modern world. stuart: mark steyn, all right, all right, all right. look who's back with us on the phone.

even janet yellen, who was the fed chair under president obama said a lot of talk about the inverted curve does not is not advocate the new more. the economy is strong. it is a good thing. at what cost -- today, bloomberg can report we will exceed $1 trillion. is this worth the money? how much money do we have to borrow to keep the economy going? jack: we have had a moratorium on deficit spending. both parties have asked off and when wertant it was observe ross perot's life in which he brought the deficit to once heehold term and was elected tried to address it and others had as well but i don't think congress has been consistent. there is irony that the military, whose main focus is , but they alsoty are the ones who are big spenders. and to not include financial health as far as national security. there is plenty of guilt to go around and i'll constituency groups because you have to adjust the deficit. we have all shared in deficit spending p or do we have all enjoyed the spoils. but we have done it at the expense of our future generations. david: jack, we appreciate you being with

and if you want to join us next week, our guest will be former federal reserve chair janet yellen. right here on "wall street journal at large". thank you for joining us. lou: good evening everybody. these are treacherous times and now we have a fight that is just beginning for our rights under the 2nd amendment. president trump says both parties are in serious talks now to expand background checks. the president also saying the views of the national rifle association will be fully respected, and now the third most powerful republican in washington, mitch mcconnell, adds his voice, saying a ban on assault weapons will be one of the issues front and center when congress returns after labor day. the radical dems efforts to overthrow the president go on. the dems subversion should have been stopped by the special counsel's exoneration and vindication of this president, but house judiciary committee chair nadler is storming ahead with what he calls impeachment proceedings. and the radical dems have aligned their party of hate with a mexican drug cartels, further demanding open borders

sherry: i think it was janet yellen who said that correlation doesn't necessarily translate into causationis that entering a recession this year. we believe the markets have taken into account this 10% tariff september 1 position that has now been suspended, which is why we are obviously seeing markets rally today. i think it continues to affirm my point that if we get too focused on what might happen versus the data that can tell us what will likely happen, we lose sight of what can be really directional opportunity instead of trying to be perfect in our timing in terms of our asset classes. what that simply means is we should be taking advantage of market pullback when the data tells us we are not in recession. we should be stepping into sectors that have been disproportionately penalized by the possibility of a poor policy outcome, which is why we are seeing consumer discretionary and tech rally today, and we should advantage ourselves to turn volatility into our friend as we seek to find value in this market. there's plenty of it, particularly when you look at the 10 year yield. eight

even janet yellen said the yield curve is less of a signal that was in the past.re a lot of factors other than u.s. monetary policy pushing yields around. that being said, the u.s. economy is not an island. issues point, global will feed into what happens in the u.s.. ristine, let me ask you this. central banks often hold for stimulus. maybe the ecb less so than the -- itut certainly the fed is not always up to the central bank of the country to fix the economy. you can do a lot of the government level. why should this interview have moved market so much in europe? kristine: there are a lot of factors. we are in summer markets, liquidity is low, volatility is high. any small moves you see in reaction to these things are magnified during the summer markets. also, ultimately, it goes to show where people are at in terms of expectations for central banks. they are looking percent for banks to raise the stakes when it comes to policy easing, which means bold moves from several central banks over the last couple of weeks. now this is a continuation of that. with so muc

they criticized bernanke and janet yellen.his type of hypocritical, politically motivated screaming from the president is certainly not the reason they should be taking any action. david: whatever the reason for doing it, will have the intended effect? austan goolsbee has written that it is not just the fed has a short runway, rates are already so low it is impossible to cut them. the real problem is that recent experience suggest rate cuts may have a more modest impact on the economy. will it make a difference in the economy and the way analysts might want? that is a good question, particularly when you look at what is behind in the weakening or the downside news of the second quarter gdp. a lot of that was a decrease in business investment. the reasons people were giving was erratic trade policy, market uncertainty holding up. if that is your reason, if your reason is you are worried about uncertainty, long-term uncertainty, then a quarter-point less is not going to address that concern. again, i do not know this will be a c

we saw former obama appointed fed chair, janet yellen saying she thinks it's unlikely that we would seehe inverted yield curve that people are speaking to the past week or two won't necessarily be a predictor in this case. >> neil: to your point, madison, even if it is, it could be a ways off. recessions have not been repealed new more than bull markets or bear markets. tom, having said that, you think the trade thing is a wild card? let's say we don't get a trail deal. it's a problem for the president, or is it a strength if it says i'm not going to cave for any deal. >> it's a good question. trump runs the risk by fishing forward with this trade war that it will hurt farmers, continue to hurt farmers where he can't lose those folks. he's pushing forward because that's one of his core promises and people elected him and people agree with his policy and don't like his tactics. i'm sure trump's advisers are telling him and fox news polls confirm this. one thing he can do is to lay off the tweeting a little bit. it's not going to happen. among trump supporters, more than 50% disapprove or

we had janet yellen of the reserve. she was on fox business earlier. listen to what she had to say about the bond market. >> there's head winds facing the economy. are we going to a recession? >> i think the answer is most likely no. i think that the u.s. economy has enough strength to avoid that. but the odds have clearly risen and higher than what i'm comfortable with. >> regardless of what she thinks, investors are selling off. a lot has to do with the inverted deal. >> shepard: thanks. 100 points off the low. context. aaron is here, columnist for the "wall street journal." the white house wants to put this all on the fed and the fed's moves. it's not true. >> i don't think it is true. the fed has moved to accommodate the market some. it didn't do much. we have really negative global picture. we have the german economy data overnight showing the german economy is contracting. the chinese economy is slowing. we have a global slow down happening right now. >> shepard: not many so many words but actions with this white house. in actions, the president

. >> yes, janet yellen had calming words yesterday.asically saying, look, just because we have the yield curve do this does not mean it's etched in stone. this is not a train wreck that has to occur it's manmade if it were involving credit and you and i not being able to credit along with the rest of america, it would be different if it was involving derivatives that we didn't understand, it would be different if it were involving a crisis of confidence that made it so no one wanted to spend, different but we have high employment. we are still spending. i'm getting that from numbers that came out today. so i absolutely don't like the tenor of the discourse, but i also am not oblivious. i called it chernobyl yesterday in a talk i gave on the street we don't know. there are people who said chernobyl had to spread to sweden and therefore germany then there's what happened, which is that somehow the bumbling soviets stopped chernobyl, but it was scary. fukushima, scary it got under control this is one of those thing where is it can get und

janet yellen, ben bernanke, alan greenspan, paul volcker commenting on president trump's latest commente central bank and say the fed and its chairman must be able to act independently and free from the threat of removal or the motion for political reasons. president trump delivering his most forceful condemnation of racism and white supremacy following the mass shootings over the weekend that killed more than 30 people but the president did not call for new restrictions on gun ownership. he blamed the attacks on mental illness and cultural depictions of violence. it has been six weeks since he took his first historic steps into north korea and spoke with kim jong-un and they appear on the verge of collapse with north korea threatening to take what i called a new road in negotiations if washington does not compromise. this was after north korea conducted its fourth short range missile test in two weeks. president trump pressuring nicolas maduro, freezing venezuela's assets in the u.s. and adding immigration restrictions, the move putting venezuela on the same footing as countries such a

neil: today, hadley, we had four former federal reserve chiefs, ben bernanke, alan greenspan, janet yellen, paul volcker all saying that this pressure on the federal reserve, they're clearly targeting the president without mentioning his name is not constructive. that we have an independent fed for a reason. and they bemoan that. that that is being called into question. what did you think of that? >> well, certainly everything that is going on with the fed and everything going on with trade policy, these are headwinds that we're seeing reflected in the market but i will say from a 30,000-foot view the white house the president trump and his administration along with congress via the tax-cut package, they have been pursuing a domestic economic policy that put us in a strong position as americans. the bureau of economic analysis last week releasing wage data, updates to wage data, personal savings have increased, business investment is going in the right direction. this is encouraging. it sort of suggests now is the time for us to as a country to be facing some of these hard things, whether