unfortunately jay powell does not. charles: phil, you say there is a little bit more room to the downside. on the s&p where is that number where you know the market may find support more importantly will the fed, is there a number with respect to the stock market where the fed may declare mission accomplished? >> i think the fed is appreciated the wealth effect they created. that is why i'm going to disagree with gary a bit. i think the fed is spot on here. i don't agree they haven't gone far enough. market organically raised interest rates which caused stock market to go up. bond prices because of inflation. what you're seeing now as yields went higher you're seeing the stock market sold off. here is your answer, charles, we're not inexpensive on stocks. we're still trading at 10% premium where you look between growth and value. we need to sell off another 3 to 5%. we need 10-year pes, current and future are back in line with long-term expectations. that is when we move higher. that happens after the second june rate

i feel bad that jay's -- like jay's like a sitcom we canceled. jay didn't last that long. new jay. netflix choelz not to renew jay. tokyo buys jay >> his subscribers are down. >> they're renewing him. >> too low >> yeah. >> he didn't have legs >> right no legs. >> couldn't get to that second season didn't have the plot. >> could paramount plus pick him up >> maybe but that's why that stock was down yesterday, i find out, average revenue. >> he's a public citizen he's not crushing it these are not years he's bringing home the bacon, although bacon has doubled in price and that wouldn't be so bad. what he's trying to do is figure out how to slow it down. without doing anything, he got the rates free he didn't really do anything that used to be considered brilliant under a previous fed chief. two previous fed chiefs. but no, not jay. what is he doing, david, that is making it so that even though he's getting it right people denigrate him? what is he doing what tho do they want him to do? i saw a tweet from a guy, a bear trap guy, he wishes things were about five i like people working

we have to take in the fed chair jay powell.terms of dachshund terms of major short-term demand, there's going to be an impact. manus: one of our last guest talked about a soft recession in the u.s. will certainly play into the complex as well. thanks for being with us. let's get up to speed, juliette has the first furred headlines from singapore. juliette: the u.s. is preparing a military aid package for india that is looking to reduce delhi's dependence on russian arms. it would making the one of the largest recipients of u.s. military aid, behind israel and egypt. you can government plans to introduce legislation within weeks to override parts of the brexit deal it negotiated with the e.u.. the situation in northern ireland risks escalating tensions with the block. a unit -- after misrepresenting the risk posed by a group of hedge that collapsed during the pandemic. the deal closed and embarrassing episode for the german giant. the wall street journal is reporting that data for a china eastern and lines jet that crashed earli

what did you take away from jay powell yesterday? hannah: they are really prioritizing the fight against inflation right now even if we see a little bit of pain for the economy. investors might be wondering, they have really not priced in the hikes of rates, and we might not see that unless we see the cpi data coming down. tom: where do we get to above neutral if we get above neutral? what would that mean for equities? hannah: markets are looking for any sense of optimism at the moment and they are positive they can take away the longer duration sector to try and rebound. we saw that yesterday. if we can hit that point in time, we might see a slower rebound and the problem is that it comes from such a high base that we have seen a call back, so this will be volatile territory for the time being. francine: is recession now noticeable and what does that mean for stocks? hannah: if you look at the long-duration sectors, there is a lot of fallback, but the more cyclical parts of the market are starting to come under pressure from this an

than they know who jay powell is. guy: if you want to write a photo piece, you meet with jay powell who i suspect not many people know. i just wonder whether or not he will be better off meeting with oil executives or grocery c.e.o.'s, the c.e.o. of walmart. i appreciate the fed's responsibility is inflation and the photo op is designed to president the president on -- put the president on it. i wonder if the average man or woman on the street is the way of delivering that message. annmarie: this is a pivot to the administration in june for the economy. alix: and it's may 31, right? this is potentially at start of maybe we will see in terms of the photo op of this white house engaging a little bit more. with these issues. annmarie: and the executives that deal with them. alix: there is a scapegoat situation that will also be unfolding over the next few months. guys, leave it there. much more coming up in the next two hours. mike, annmarie, thanks for joining us. coming up, we'll continue this conversation and how the

stocks you might want to buy or fentfrollowing the commes om d shchair jay palowell.tay tuned we are back after this >>> welcome back to "worldwide exchange." back to the markets after the late day rally that saw the dow and s&p with the biggest single day gains after the federal reserve's first 50-point rate hike in year the dow implied lower by 50 points this morning. nasdaq down by 11 0 points joining me now is asset management and contributor jenny har harrington you had some time to digest what happened yesterday do you feel as though the green light is there for investors we still know we are that far off the lows of the year in the markets. >> i always think the green light is there for investors i think now is a great time to be buying if you have cash here is something that my younger brother said to me i was trying to get him to invest money i was worried that the market was at a high point. i said, ben, if you put the money in now and it goes down, he is worried. jen, when you heard this, when is the best time to plant a tree, the answer is 20 years ago. wh

joining us now is jay, who has models for this. jay: the indicators i follow are not bearish.m not fully invested. i have a reason for optimism. one of the best indicators i have come across involves new highs and new lows on the nasdaq index. when new lows overwhelm new highs completely as it has done recently, it typically happens near capitulation, not necessarily at the bottom, but very close. the model that i follow has given nine signals since 1990. the most recent one occurred last thursday. the previous age signals saw the nasdaq rise in the last -- next 12 months, the average game was over 40%. that doesn't mean this is going to happen this time, it sounds optimistic at the moment. it is something i am keeping an eye on, it is one of those indicators as the old saying goes, when the time comes to buy, you will not want to. i think that applies right here. i am keeping a close eye on it. one thing to keep in mind, historically, the previous age signals the average number of days between the signal and the actual bottom is about six to 11 trading days. that is about a w

nasdaq up 3.2% it all came after the comments from jay powell. the treasury markets took all of this in stride what happened was it was already priced in to the markets 10-year rate is where it was yesterday. you are talking 2.954% 5-year treasury is lower it is at 2.938%. 2-year is 2.83%. the crude oil is rising again. a lot of concern with russian oil which is no longer used in the eu right now, wti up at $107.88 that makes you wonder. andrew, we have the man who sparked the rally with this question >> lies-mania. 6:02 in the morning. the fed sparked rerlief rally he may be responsibility steve. >> thank you, andrew just doing my job. i guess my promotional people are writing the intro. the federal reserve delivers the 50-base point rate hike as expected an flnounced the plan to reach billion a month. combination ratchets the fed up to the most aggressive tightening the chair took 75 points off the table and replaced it with 50 over the next two. the reasons is that powell put guardrails in. the may meeting saw the fed recommit to being predict

john thank you again so much jay. thank you again so much, and i want to thank all of you as well from the kansas city public librarhost: larry kudlow, will e writing a book about your time in t t

john thank you again so much jay. thank you again so much, and i want to thank all of you as well from the kansas city public librar >> most people say how do you come up with things? that's the most commonly asked question and it's the question i want to begin as a columnist -- how do you come up with things? he says the world irritates me three times a week. i would say the world irritates me, amuses me, piques my curiosity. the world is littered with things to write about. it was set on the program he could not look at a landscape without seeing a battlefield. if you are a columnist, you can't look at the world without seeing column titles. >> visit book tb.org to watch the rest of this program where you can watch it and all previous episodes of our weekly author interview program by clicking on the afterward stab near the top of the page. >> and now come on book tv, we are live with author, columnist and foxbusiness host larry kudlow, who over the next two hours will take your calls and questions via email, text a

john thank you again so much jay. thank you again so much, and i want to thank all of you as well from the kansas city public librar

so what advice would you give jay powell. he's already done the policy part.f with this preamble we understand america is tough, you're struggling but later on he sort of seemed to be bailing out wall street. >> yeah, he's doing something better than president biden is and that is at least acknowledging the pain, but what he has done in the past year is he continues to be wishy washy on what he thinks is actually taking place of course talking about inflation being transitory and wishy washy about how dangerous inflation is and even this week he said that he doesn't think there's going to be a stiff recession but when you talk to economists, business owners, most people think there's a tough two years ahead. they think there will be a recession so i think what we're getting from jay powell is a lot of uncertainty where he's saying one thing but the rest of the country is realizing that's not accurate and are doing something different. charles: you mentioned president biden his poll numbers are incomplete freefall. his messaging to me is always, it's divisive,

we have infrastructure capital management ceo, cio, jay hatfield. jay, you get to go first.ou have your thesis, where it is. >> thanks, liz, for having us on. we're relatively optimistic about the fed being able to engineer a soft landing. having said that they failed 11 out of 18 times since world war ii. so the odds are against it but there is really two elements. the first is housing. almost in every single one of those 11 recessions housing had a major recession. obviously the financial crisis being the worst but here we have the exact opposite of a financial crisis. you have only 1.3 million homes for sale. we had 4.5 million. that is and all-time low. the other element is the energy advantage that the u.s. has. we think europe could have recession but not necessarily the u.s. liz: okay. >> because of that 200% cost advantage we have in energy relative to europe. liz: gotcha. ed, you say recession is dead ahead. give me your reasoning for that? >> i think jay hit a lot of my points for me. number one, we've already seen slower growth and actually now we're seeing reduct

it does seem to be accelerating in the wake of president biden's meeting with jay powell.g outperformers this month solar isn't the only renewable on a tear. how rising cts cldosou derail the green energy trend next. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today. at adp, we use data-driven insights to design hr solutions to provide flexible pay options and greater workforce visibility today, so you can have more success tomorrow. ♪ one thing leads to another, yeah, yeah ♪ (vo) everyone knows to get wireless savings, you need to be on a family pla- ...oh... so you can have more success tomorrow. (jane) with visible, i get unlimited data for as low as $25 a month. no family needed. (vo) i guess i spoke too soon. visible. single-line, unlimited data as low as $25 a month. >>> welcome back one more thing that should be on your radar before we go. solar stocks, the invesco solar etf seeing nice gains thi

it's going to be keep your dumb talking jay powell here. and if he does get more hawkish, then you might not see the dollar selloff that many people are saying could have been. mark: indeed. it is all about frontloading. that's what we saw here today as well. we expect something similar from the federal reserve. as kathleen was saying, you can see that there are investors already beginning to be concerned that even though we've got nowhere near the peak of interest rates, where thinking about the possibly of a recession may be the next two years. as i said, we will be just as well aware of this as anybody else and they will want to get rates up to a level where it is useful for them, so that they have the ammunition to lower rates quickly. should they need to when they see these headwinds become really severe. and because a big slowdown in the economy. so it is all about frontloading and we could hear the fed say that they are willing to be more aggressive as kathleen hays was saying. 75 basis points has not been clearly mentioned, but cert

the president will meet with jay powell later on at the white house today.on meeting since powell, again, was confirmed to a second term in november in a wall street journal op-ed, the president said he will support the fed. the most important things we can do now to transition from rapid recovery to stable growth is to bring inflation down he says that's why he has made tackling inflation the top priority let's talk more about this with jimmy pethokoukis with the american enterprise institute. he is a cnbc contributor jimmy, thank you for joining us. we are feeling it. millions of americans are feeling it millions around the world are feeling pricing pressure is there anything that can be done from the white house and/or the federal reserve to tackle this in a meaningful way in the next coming few months >> dom, i think what the president is saying both by the lunch or this meeting today and that wall street journal op-ed is the main thing the president can do which is to say i support the federal reserve. i, unlike my predecessor, i support the fed. that s

meeting that jay powell has with president biden. is this him being given marching orders to tackle inflation more aggressively, and how much does that compromise the fed who has not been seen as political? that is the tone after a memorial day weekend where people were shocked about the prices they were paying. >> almost five dollars a gallon on average. tom: john, this language, i want to know if you have ever seen this language in the united kingdom coming off the prime minister's desk. this is off of the treasury secretary's desk about the meeting there talking about and the language of this is really basic. this is american politics as it goes. as we transition from a historic economic recovery to stable and steady growth that works for working families, how's that working? jonathan: that is the problem for the white house. there owning cpi print. there is a fear in that white house that we have not seen the worst of it yet when it comes to confidence and consumers see the downtrend in growth. >> and seeing how quickly it is rol

start to smell the trees and see people walking and sitting on the grass, suddenly jay belted out "ie this town." i love everything in this town. i love everything and everybody in this town. and that was his song as we made our way to a quiet corner of the park where we reconnected with nature. and from an extremely safe distance we reconnected with other safe san franciscans. and then mayor breed created a safe car-free space here on j.f.k. and suddenly we had a space where we could be not only in the city surrounded by the diversity of people and activities that you can only find in a city and really only in this city of san francisco. and at the same time, be safe from dangerous traffic. so, jay could listen to the music and join the party here at the skating place, and get a snack from a food truck. in fact, riding his bike, and, at the same time to see and meet other kids and adults, learning and even practicing tricks on theirs. and all of this was so much more carefree for me, you know, not feeling like i had to constantly watch for cars. so i will be forever grateful to you,

are you going to advise jay powell. >> maria, i'm not a banker. i don't even have much of a fors background but i do know this much. when you put one bad thing on top of several bad things you will have more bad things. like i said, my concerned with the fed was always that they didn't start soon enough with wh modest differences and we have much greater demand than we have supply and i just don't know if -- if raising now on a market crash that's reading the tea least is going to be the answer. i will leave that to the experts and listen to what he has to say and i will give my two sents worth. again i wish it would start sooner and more modesty. maria: senator, before you go. we only have 20 seconds. what are the democrats going to do in terms of policy? are we going to see a further push to get build back better? >> i'm afraid we are. it's an irredeemable political situation and resigned themselves that is they are not going to win and do all the damage they can do in the meantime. >> senator, good to see you, thank

kathleen: i think jay powell is being so clear. this is the third time in a row he has pretty much said the same thing. they know they need to fight inflation and they know they should have started sooner hiking rates last year. now they are ready to go full speed ahead. he said they are going to keep pushing on rates until it is clear that inflation is coming down. here is what he said at a wall street journal event earlier today. chair powell: inflation is coming down and that's what we need to see. if that involves moving past broadly understood levels of neutral, we won't hesitate at all to do that. we won't. and honestly, we will go until we feel like we are at a place where we can say yes, financial conditions are in an appropriate place and we see inflation coming down. kathleen: he was asked about the neutral rate. some people saying it might be 3.5%, 4%, or higher. he agreed we will push as high as we have to. he said the economy is strong and can withstand tighter policy. if the basis point rate hikes are fine for now --

let's create romaine: president joe biden meeting with the fed chair, jay powell and janet yellen.nt biden: it starts with a simple proposition. respect the fed. respect the fed's independence, which i have done and will continue to do. my job is not to nominate -- not only to nominate highly qualified individuals, but to give them the space that they need to do their job. i will not interfere with their critically important work or responsibilities. chair powell and other leaders of the fed have a laser focus. there was a larger complement among board members. i look forward to chairman powell's continued leadership with the fed. thank you for coming in. [indiscernible] romaine: the president of the u.s. preparing to meet with the fed chair, jerome powell and joe biden's secretary. there are some other economic measures. we will bring that to you, but we want to move from that to a milestone here at the end of may. a lot of focus on equality and how we can strive for a more equal society. a professor of economics over at the university. it benefits us all. thank you for being here

charles: so, nomi, this is jay powell 3.0. the first jay powell went by the book.ristmas. the next jay powell walked by a homeless man week later had epiphany, changed course. powell 3.0. bill ackman says the fed is not doing their job. they should be much more aggressive fighting runaway inflation. the other jay powell we need to help everyone. we don't need to wreck the economy. there must be serious internal conflict. how do you read those tea leaves? >> i will go with jay powell 4.0. we're moving fast with what is happening in the economy and inflation, what the fed is doing. i do think they will raise rates in june. i think they will temper what they say in july. i think they will step back. they were looking what is happening with the markets, what is happening with the economy. wait a minute. now we've gone the wrong way the other direction, versus wrong way in the first direction. there will be a little schizo powell. charles: bostick telegraphed that. >> he did. there was something really crucial in these minutes. that, they made mention of treasury market

if jay powell is listening, which he's probably busy doing something.n of inflation. and that anybody who think weisk it with 50 basis points is silly. >> we're going to see some tough negotiations between the big retailers and the packaged goods companies, the food companies, and beyond about how much of that gets passed on and through the pipe, where stuff stops, where it doesn't that could be interesting for the stock market too, who has the bigger flex here >> big tug-of-war. we saw the collapse in the transports, i think that's, again, because people recognize, that we're going to have to go 100, and that commerce is going to slow, look at united parcel, look at fedex. we have to go 100. people are going to start realizing that jay powell is wrong and he will switch direction. he has to. things are bad >> how much of that has worked its way into the market, how much of that is what we've seen this week in big declines? >> a lot of people went out of highgrowth because they think jay powell will be too growth and a lot of people wanted out of the cy

jay needs that jay needs to push this over.aby that me-- maybe that means% mortgage rates the 20-year goes higher and then jay cools it they stop building homes the average home is up 25% year over year. that is not -- they should not let that happen. that's just too much for americans. >> by the way, the supply of existing homes near a record low and if you locked in, why would you move and then jeopardize that, right? by the way, there's the opening bell we're back to 4126 at the big board, the american swiss foundation celebrating its 77th anniversary at the nasdaq, celebrating an ipo pepgen t. >> there's been very few biotech and very few innovations and what you're hoping is that the ones from 2020, 2021 start seeing them being bought by glaxo looking for growth this is not the market for them. it might be the market for the big drug companies -- >> by the way, we'll keep our eye on, for example, j&j on some of these new restrictions out of washington. >> there's an opportunity. j&j aaa balance sheet. they're going to spli

catch of the full interview on "jay leno's garage" premiering this fall on cnbc. live up to the hype >> it's so impressive. i a. am so proud of american manufacturer because it's standard of the world. this is an amazing vehicle it's aluminum. it's light weight. it gets incredible mileage and can power your house for three days so, many innovations, yet truckers tend to be conservative people, so it still looks like a truck, truck door handles and things but underneath the skin very, very impressive, it really is in fact, the day he came to my garage we unhooked everything, we plug youed in the truck and did the segment running off the truck to show it really works. yeah, pretty cool. >> so down in tornado alley or hurricane land when all of the power is out, the truck will keep the lights on for three days, that's crazy. >> you know, i thought ford did a great thing when last year before it was kind of officially out, texas had that deep freeze where literally 20 below zero and everybody lost power and ford dealers just gave folks these trucks, take them for a fe

please welcome jay ellis. [ cheers and applause ] ♪ >> jimmy: jay, tell me if this is true or not --nts literally just got here, y'all. [ laughter ] in an uber one minute ago. >> jimmy: really? >> yes. i called my nanny, she was at home, watching our daughter, our babysitter. "hey, i'm with jimmy kimmel, my pants, i left them in the room, put them in an uber and send them here." she's like, "what pants? how many pants? the gray sweat pants?" "no, i'm wearing a suit, i need the green pants." "okay, but there's an alarm going off, do you need the pants now?" she got them in an uber and they made it. [ cheers and applause ] >> jimmy: wow, that's crazy. >> yeah. >> jimmy: i love the idea of her handing the uber driver your pants. >> the uber driver is like -- what is this? ma'am, there's a child back there putting the house on fire, you should go watch him. >> jimmy: i thought though were back there. [ laughter ] >> they're not, she didn't come with the pants. >> jimmy: we have -- how long have we been -- i feel like every time you've been here, we've talked about "top gun." kind of as i

heading on a three quarters -- jay powell took that on the table. he said we are not doing that right now. it looks like we are going to do half increases over the next two years. you saw equity markets, stock market took off. host: a change -- still a lot of change in the market in a short. of time. what are the risks of all this happen? guest: the risk is you get some sort of very sharp market correction. the fed right now wants to see -- go down. they want to see the stock market weekend. , they need to see bond yields go up. that is the way they slow economic growth. the fed operates through financial markets and what they are trying to do when they raise interest rates is something that we refer to is tightening financial conditions. what that means is you are making it more expensive to borrow, you are making asset values go down. that is going to dampen investment. it will increase saving and it will slow demand in the economy. the reason inflation is high right now is because supply and demand are out of balance. the fed cannot do anything w

president biden meets with jay powell and janet yellen just after 1:00 eastern.te house national economic director spoke earlier with bloomberg, head of that meeting, which is going to focus, you guessed it, on inflation. >> we have unique economic strengths right now that position us well to focus on this challenge, bringing prices down. obviously the federal reserve plays a primary role that fiscal policy and the economic choices we make with congress play an important role as well. guy: joining us now, former fed governor randy croson are, in our professor at the blue school of business. is this a significant meeting, randy? is it anything more than a photo op? >> it's primarily a photo op. it shows the importance of the inflation issue but i don't think there is going to be any pressure put the president on jay powell. they know the fed has got to move, the fed is moving, i don't think they will try to stop that. alix: could the pressure come the other way question mark jay powell saying look, i can do all of this but i can't help gasoline prices, that's some

again that comment from jay powell that 75 basis point of a hike is not being actively considered at this point. he stressed this that the fomc relays the focus on the fed on the question of inflation, clearly scrutinizing the data when it comes to price hikes we are seeing across the u.s. but also illustrating what he sees as a threat to the u.s. economy and a number of times just underscoring his views about the tightness of the u.s. labor market. he still believes the fomc and the fed can engineer a soft landing for the u.s. economy. the details around the balance sheet runoff which will start in june. let's check back on the markets. 1.6% up on the ftse 100. unicredit earnings to factor in as well and the spanish ibex getting 1.5%. let's look how things are playing out across assets. it we are looking ahead to the bank of england as well. the ecb's panetta saying that there could be a potential stagnation. in terms of the futures stateside, you are seeing losses of zero 3% -- 0.3%. in terms of sterling, it is seeing weakness. we will see how the boe decision and any comments on t

jay powell will ask a lot of questions of are you tipg inflation. we're pretty confident inflation will come down and no, we're not going overdo this and put this economy into the recession and that will be comforting to markets. >> steve, let me turn back to you and we'll talk about the interest rate question and let's talk about the balance sheet and the pace at which it may decline 9 trillion right you in. it's going to start at about 47 billion a month if i'm reading right between treasurys and mortgage backs and why didn't the fed go there sooner? that was a way to get into this tightening a little quicker. >> why didn't it go to 95 billion? >> no, why didn't it begin squeezing the balance sheet sooner that's number one and what did you make of the pace that it is embarking on now >> yeah. so i think that the fed not going sooner is one of the biggest mistakes the fed has made since i've been covering them they all sort of felt like they should have stopped buying assets they were doing so, tyler, incredibly through march. >> yeah. a time which

jay powell saved the day i use air quotes, for one day.nterpretation of saving the day is different on wall street than it is on main street and to that end jay powell's began yesterday's news conference with a pledge, an ode to main street. he acknowledged that inflation is much too high and the fed understands the hardship it is causing but then powell went on to say the fed is moving expeditious and bring inflation back down. those comments sent the stock market drifting lower, right? you remember that. it appeared the fed chosen main street over wall street. of course during the question and answer phase powell took 75 basis points off the cable, cast doubts how aggressively they let the balance sheet run-off, you remember the market soared. in fact the s&p has only rallied 2.25% plus on the same day of a fed rate hike once before, folks. that was march 21st of 2,000. remember march 24th of 2000? that was market top of the s&p. beginning of the end of the tech bubble. this takes us back to the original question. did powell save the day

chairman jay powell says they are not going to be more aggressive than that this year, but is that astion johnny right out of foxbusiness exclusive is the former president of the kansas city federal reserve bank thomas hoenig. it's great to have it this weekend, thanks so much for being here. that was one reason the stock market rally this week was jay powell said they are not considering 75 basis points and a hike. your thoughts on whether or not they should. >> i think they are pretty much behind the curve. they at least have to consider it 75 basis points as they move forward from here. i also understand where they are to be cautious because if you think about it, they continue to move at 50 basis points bite major at the be close to 2% that is increasing rates by a factor of seven or eight times, that is a pretty big increase relative to where they were in a fairly short period of time so they are nervous. i think the markets are nervous about that. they have to get the rates up. inflation has got to be brought under control. and i think probably be talking five basis points befo

you love jay powell. you've been singing his praises. >> of late i've been in the other camp oh, that's right you haven't been around. >> where the hell you been, dad? you're never around. >> cat's in the cradle >> i've been busy, my man. >> it was johnny o look, i think that it's very important to recognize i think george is talking, talking about 50 the lesson is holy cow, things are so much more out of control than we thought, so i have to -- i've been in the board i love jay powell. i think jay powell was doing a good job i think he was concerned as much as she that maybe omicron would be really horrible he misjudged that, but he's not a public health official we have a guy name board very sane. we need to shock the system and bring things down right now. the only commodity that i know that is here, chicken wings. >> meaningful deflation. you talked to wing last night, right? finally deflation in chicken wings. >> so bad, my wife and i came home, we ate them. everyone's cutting back. >> cutting back o

>> yes and jay powell is way too doveish. you have a negative gdp print, you are in a recession. so for him to get up there and say the economy is strong, he's either lying or he just doesn't know what he's doing and then for him to say that he's confident he can hike rates and avoid a recession, i think he's out of his mind there too. look, volatility is back in the market. we are now seeing stocks trade at greater than 1%. i think it's 87% of trading day so far this year which is a big shift from how stocks have been trading during the qe era going all the way to 2009. and, look, just like scott said, look, i manage money, i should be incredibly happy that the market rallied 3% in the last hour or so yesterday but look i think that says something about how doveish the fed hike is. i think we should have hiked 100 basis points. i know that's way out of consensus. i was hoping the fed would meet me in the middle. i'm happy it went up for me and my clients but i don't like when it goes up only to crash later on and if we don't

jay patrick mullins associate professor of history and public history director at marquette university. hi, patrick, dr. eile. chang associate professor of history at sarah lawrence college hi, eileen, and suzanne buchanan executive director of the shirley eustis house right here in boston in roxbury. hi, susie. thank you all for joining us. i am so honored and delighted to have you all here. i want to get us started with a

they wanted to avoid jay powell on my board during the taper tantrum.d to avoid it by giving as much warning. that was one of several reasons why the fed didn't respond more quickly to the inflationary pressure in the middle of 2021 there were other reasons as well >> what do you think >> one of them was that in early 2021, after the american rescue plan was passed, this was $2.8 trillion in new federal spending with the rescue plan and december program you know, the fed could have responded at that point. they looked around and said there is still a lot of slack because the unemployment rate was close to 6%. number of people working below where it was before the pandemic they said there is still a lot of slack in the economy. we should let the fiscal program do its job and bring the economy back to full employment. we've learned since then that because of the pandemic and with a lot of people staying home that the unemployment rate for example, the number of jobs may not be a good indicator if the labor market is hot or not looking now at things like t

spirit welcome back but how will jay pal's anti- inflation agenda impact housing?state market? i poses questions billing or real estate investor, sam zell. whether it will put into the recession. >> the fed has spent so much time not doing what it should have been doing. it creates a big gap that i think can be filled without much damage. in other words i think 100 basis points even 200 basis points over the next year is not likely to put us into a recession but is probably just likely to bring us back to barbie should be. maria: let's talk real estate, samford i know home prices are way up. even rents are way up. assess the market for us. >> in 20 years, i think in 2,092,010 we built tune of 50000. we still are not back to the million or we are just now getting to that million. when you create those kind of holes, you end up with prices going up because there's more demand than supply. maria: are there any comparisons to the 2007 upset and housing that you obviously lived through so well. or is the supply problem now making this moment different in the below piece

jay powell says a jumbo m not on the cards. u.s. stocks pose their biggest post fed day gain in a decade. bank of england is up next. crude steadies after yesterday's gain on the eu banning russian oil. it is a reappraisal in this market. it's not dovish to hike 50 basis points, but a dovish move in this market. manus: absolutely, the biggest hike in rates since 2000. the stock market loved it, it was quite literally euphoric. i want to show you the bond market. the long end of the curve does not believe that that has got hold of inflation. -- the fed has got hold of inflation. jumbo rate were taken off the table. 10-year futures down this morning. you are looking at the long end, the 30 paper in futures, prices decline, yields rising slightly higher. crude up after a 5% rally on the eu banning russian group. jamie dimon says you could have a long enduring war. $30 of risk premium is not in there. and the dollar steadies again. you are seeing hybrid currencies drop as zero covid endures. dani: they euphoria th

including jay powell we will see if it impacts bonds at all today we have been keeping our eye on ite have been looking at the oil market today we will keep our eye on it crude oil getting a boost after china seeing a recovery after positive signs the covid o outbreak is easing wti is at $114. >>> now with the top headlines with silvana henao >> no shortage of elon musk news two hours ago, he said twitter must publicly show it has less than 5% pspam accounts for his deal to go through he is accusing the social media company to not release accurate data he said he could seek a lower price for the deal because of that meantime the new york post is reporting that spacex is selling existing shares today. there is talk elon musk could be a seller musk has been looking to raise money for his twitter bid. he owed 44% of spacex shares as of august. >>> and abbott reached a deal with the government to open the factory in michigan. it was shut due to bacteria contamination. >>> 13f over what some of the worlds investors bought and sold in the first quarter warren buffett purchased 55 million s

jay powell, is he afraid of going up 75 basis points? >> he is not that type of guy.usually talks strongly. he doesn't want to disrupt what is a strong recovery going forward. inflation is high. he stopped using the word transitory so maybe he has the impression that the pressure will start to come off going forward. . dani: i'm waiting for them to change the word to pugnaciously. if you want to do something big, 75 basis points and then you think about it. dani: is it not at this point, something you need to do, you need to prepare for an even more hawkish, aggressive fed? >> i don't think they are there yet. the language might increase. they hawkish rate rise, given jay powell's history he seems to be a more cautious individual. francine: do we need caution, or will it lead to policy mistakes? as a fund manager how do you get through that? >> looking at the bank of england at the same time, we are living in the shadow of central banks. stocks are going to be heard but we need to look more fundamentally at the economy. the reopening, all the huge numbers, mgm came ou

mick caught by a blue jays fan.gives it to aaron judge fan. >> reporter: nine-year-old derek tearfully hugged in a heartwarming moment that went viral. >> i wanted to not make a big scene because i was like, wait a minute. it is going to be all over tv. but i couldn't hold back my tears. >> i just had the overwhelming feeling of joy and elation. i wouldn't ever give up that moment for anything. >> reporter: the exchange even captured the attention of the slugger himself. >> that is passion right there. that is yankees fans right there. >> reporter: they got another when they were invited into the yankees dugout for batting practice before the next night's game. once again, young derek shed a few tears. judd signed the ball and gave a -- >> it doesn't matter what jersey you wear. everybody appreciates this game. >> reporter: and there is more to come. the yankees have invited the family to yankee stadium later this season to watch from right field. >> if you are in the stands and there were a blue jays man, would you

jay gray, nbc news. >> thank you so much, jay. >> cracking down on dangerous side shows, a busy night for law enforcement in the east bay and north bay. and next here on nbc bay area news at midday, what you need to know about the violence in one incident. >> plus, the warriors getting ready for game three of their playoff series against the grizzlies. we talk one-on-one with the superfan headed to that game. and we'll show you why he thinks the ws have this one in the bag. but first, here's what dateline's josh mankiewicz is following on a brand-new "dateline" for tonight. >> coming up, a murder committed in the middle of the night, and so many potential suspects you might find it hard to keep track of all of them. it's tonight on dateline. >> you can watch the undoing tonight at 9:00 right here on nbc bay area. we'll be right back. >>> new overnight, santa rosa police are investigating a shooting during a side show. it happened around 10:00 last night. one man was shot several times and is now in critical condition. and expected to survive. despite hundreds of people being there, po

powell says because jay is not talking about how everybody is going to die. look, other than the predator that everybody is going to die doesn't rash with me can we have those horrible things we can have every horrible thing. anything horrible can happen these people are sellers because of china and ukraine and this. they are -- they changed the numbers so i have to look around where is my scared it's in here they're scared better pretend i know where the button is. they're scared and don't want to tell you because they're afraid to even tell you the truth. but they're scared then the third camp. these are the people that think that powell must crash the economic plane because the economy is too high. they've got 11.5 million job openings and 6 million seekers while powell can talk, they don't believe he can break inflation unless he aggressively jax up interest rates and wanted 75 and the 1.75, and 2.75. this wants to sell everything in the strength because when they hear kill inflation now, they take it to mean kill the economy now. they want 1,000 basis po