and janet yellen, the first woman to head up the us federal reserve and she was cut short to a degreeresident at the time, president trump, who was not keen on her. but from your perspective, what needs to change to increase the number of women in these positions? different institutions need to look at what they are doing in order to support they are doing in order to support the hiring and retention of women within their ranks but also making sure that the women who do stick around are able to progress in their careers, regardless of any made, whether they want to start a family and raise children or have responsibilities at home. these are financial institutions have to look at what doing eternally to make sure that we support women in their ranks because there will always be a fact of life that family will be in people's lives. and that is the case for many of these young talented skilled women who come into a career ina skilled women who come into a career in a central bank. it is about retention, isn't it? if you have a family and a few children and they ta ke family and a few ch

take janet yellen every day. >> i'm not arguing that you would.ket -- a person that pays attention probably wouldn't. >> well, we'll see about that. you know, at a trillion dollars of buy back, the economy continues to perform for those at the very top and no unsupervisory wages. you take the wages at the top out, nonsupervisory wages are continuing to be stag napt this is not working for normal people. >> no, that's just not true. let's talk about the numbers in the report which are simply spectacular. this labor market continues to defy gravity how we create over 200,000 jobs when the population is growing so slowly is contributing to the fact that the labor market should be collapsing and it's staying solid. the wage growth is there this is a report everyone should be thrilled with. >> point out the wage gains, doug people can say whatever they want, where are the actual snums what do you see? >> you take a look at our best indicator of wage gains, which is the employment cost index which has both benefits and cash compensation, that's rising i

physical dimensions he was i think 6 foot for every single one has been progressively shorter with janet yellen being the shortest of all so that's kind of interesting and also in the area of central banks with volcker gone was really the. this idea of kind of price discovery as it relates to markets as well so now we all we have now is we don't have price discovery we have what's called mark to model so usually assets are marked to market to say oh i have about a bunch of assets in the market value is based on what i can sell them for but when once volcker is gone and you bring in the imaginary money crazy people like greenspan you introduce mark to model you say i have a bunch of assets and the value is based not on what i could sell them for but what i could theoretically sell them for under certain theoretical conditions and this is the beginning of the phantasmagoria of the global debt pile which is down golfing all economies everywhere i want to point out another thing about paul volcker that it's important to understand and what has changed since him is he said the greatest financial inn

the fed under janet yellen was talking about this a lot. is a reason why economic activity flatlined. we will probably see a similar sort of phenomenon going into next year. it is a very difficult one for the fed. while one door may be closed, another risk door has opened and that is partly why the neutral stance is there. anna: and other trade fights could also be picked, couldn't they? thank you so much. moment to look at what is going on in markets. really risk-on as a result of progress on trade. the pound currently trading at 1.3459. 0.75%. sci up as a result of the progress we are making on trade. president trump signing off on a trade deal with china to avert december tariffs. sentiment andd got investors seeking a little bit more risk. 1.91 is where we trade in the u.s.-10 year -- u.s. 10-year. we are going to take a short break. this is bloomberg. ♪ oomberg. ♪ afternoon in1:48 tokyo. we have been talking about a number of risks being taken off. yen is currently weaker against the dollar. the dollar is actually weaker against a numb

powell's become data dependent like his predecessor janet yellen used to be. that's all you can ask for from the fed chief. fourth, i want companies with good management and good growth aspects to be rewarded that kind of differentiation rewards individual stock picking and i'm a big believer in stock picking as long as you have put some money into an index fund. fifth, i want people to own apple. okay i don't want them to trade it. i want you to stop freaking out every time an analyst tries to scare you from this thing. as tony from bernstein did just today by saying that the -- someone in the accessories could do well this year and plummet next year. six, i want millennials to keep investing. this is important. one of the most exciting and positive developments i've seen is that robin hood, the disrupted online brokerage app now has 10 million accounts most of which have been opened by millennials. younger investors can afford to take risks older ones can't. if they get wiped out, they have their whole lives ahead of them to make that money back. let's remem

. >> janet yellen is worried. so is powell.high eer than normal and there is good reason to worry. do you share her concern. >> yeah, i think definitely over the next year and a half or so, it would be unlikely not to have a recession right around after an election. it's pretty common in u.s. history. i think that's a reason why the fed has gotten ahead of the curve now. i think the big new ss ha that locking at the november jobs numbers is that the fed policy seems to be working and we saw a slowing along with the rest of the globe maybe back in september and now that seems to have reversed which suggests the fed's moves have been b positive. >> it's very notable that you just a few months ago, the president's top economist said in a year and a half, going to have a recession. tha where your money is. >> that would be typical. the odds of recession starting around november of a presidential election year are about could beliedouble. as you get closer to the election, people tend to hold off big ticket purchases and factories s

squawk," the card carrying democrat said it was a good number, but he blamed it -- cited it was a janet yellenconomy. fellow on "squawk box," seemed like a nice fellow >> 205,000 premonth job growth pace, private sector making up 200,000 of them. largely -- you pointed out government, not -- and services sector obviously the key here as you pointed out, healthcare as well but overall good average weekly earnings 3.1% year over year 34.4, the number of hours worked, that's in line. >> this is one of those numbers where you have to start wondering about the things you learned in economics class the philips curve and stuff. we're creating a lot of jobs and it is not producing what it is supposed to be producing when i study with galbraith and oto epstein, not that i was taking serious notes, busy buying stocks, but i did think the numbers weren't -- theoretically aren't supposed to be able to happen maybe that's the amazon factor maybe that's the factor of services not really having -- retail doing so, target of the world, walmarts of the world. >> meanwhile, you can't expect the fed is going to

that has been true from janet yellen to chair powell. that is a good thing.ore money to more people and more people are spending. that is a good thing. you see that translate into broad-based economy. there is difficulty about spending on things versus spending on experience. you are seeing them both remain strong with additional emphasis on experiences and electronics and things that are not necessarily a car things like that but things people can consume. david: from what you see at bank of america, can we keep this going with respect to the consumer specifically? economists say you have to have more people working or higher productivity. growth is not as robust as it has been. brian: this is a great question. your denies equilibrium where job growth has been enough to more than absorb the population and you're seeing the population -- you are seeing the underemployment rate coming down. those are good things. you hear the experts talk, there are still a lot of potential slack. there are a lot of people who could work who are pulling back in. the question w

>> you could argue that q116 was the closest we got to recession, janet yellen had overtightened first half years in office, she overtightened, and essentially what happened is production went to minus 4% year over year, that's a huge drop. if you had deindustrialized the united states, only 11% of the economy, industrial production, there's less volatility to the economy but i would argue that q1-16 was as close as you would get to a recession. this could go on for a while. maria: you think it continues and you want to be owning stocks? >> you want to own more cyclical stocks now, later they will overtighten at some point but we don't see that in the next year. maria: barry, great to have you, be sure to tune in for my exclusive interview with robert lighthizer in 2 hour's time, we will talk about usmca and china trade and what's next in terms of the trade policy coming out of this administration, join us for robert lighthizer coming up. first changes in instagram, shutting down rude comments, making harder to be mean with the use of ai, coca-cola, new subscription service, we will be