overall -- there is jay powell.et's take a listen. >> my colleagues at the federal reserve and are i dedicated to serving the american people. we do this by steadfastly pursuing the goals congress has given us, maximum employment and stable prices. we are committed to making the best decisions we can based on facts and objective analysis. today we decided to lower interest rates. as i will explain shortly we took this step to help keep the u.s. economy strong in the face of some notable developments and to provide insurance against ongoing risks. the u.s. economy has continued to perform well. we are into the 11th year of this economic expansion and the baseline outlook remains favorable. the economy grew at 2 1/2% pace in the first half of the year. household spending supported by a strong job market rising incomes, and solid consumer confidence has been the key driver of growth. in contrast, business investment and exports have weakened amid falling manufacturing output. the main reasons appear to be slower growth

get ready, fed chair jay powell set to talk again. >>> jay powell getting ready to speak this hour about the economy and fed policy his last speech before the next fed meetinging what happens if investors don't like what they hear? >>> the big week for the bulls technique up 2%. transports up more than that the semis, soaring the stocks to snap up right now. >>> time to take on. why investors are checking into delta and american airlines. it's our "call of the day. >>> the investment committee is ready to go, "the halftime report" starts right now >>> and it certainly is good to have you with us on this friday. our investment comphoot is steven rice, jon neg jarron, jim lebenthal and megan. >> thank you >> we begin with the markets, all 11 sectors, 100% there in the green for the week four of them including technology up about 2% transports and some of the chip names, guys, soaring and doing very, very well. joe terranova, we talked about it yesterday are you surprised by how strong the market has been this week? where did this market scum after an august to forget? >> i wouldn't charact

there you see jay powell, chairman of the federal reserve. yone now waiting to see if he will give us any indication of what they will do at the next meeting. now let's listen in to chairman powell. relationshipur with switzerland, how do you perceive our country? do you like, love it? do you visit it ? do you do sports, hiking, swimming here? the people are curious. that is a lotl: of questions, i could take a full hour. thank you so much, martin, for your remarks, and for everybody's welcome. switzerland is a place where central bankers, on a regular where we meet, with each other internationally, share candid views as equals, person to person, we developed close personal relationships with other central bankers around the world so it's absolutely essential in this globalized world that we have strong multilateral relationships like that, and they really come together importantly here in switzerland. i have been to switzerland many, many times on vacation with my wife, and a long time ago as well. we were talking, 44 years ago was my first t

jay powell said that in so many words today. it will really depend on how the global economy unfolds and particularly how the u.s. economy unfolds. paul: thank you for joining us. in the next hour, we will discuss the latest fed moves with the former atlanta fed president. still ahead, facebook announces it will resume transcribing user audio clips on his video device, portal. -- shery: saudi arabia claims it has evidence that iran was behind the oil strike. president trump wants tougher sanctions in response. this is bloomberg. ♪ paul: you're watching "daybreak australia." let's quickly check in on wti. it started trading amid rising tensions in the gulf. .2%,ntly at 5823, up about but overall, the trend is for crude to be coming down as saudi arabia makes more assurances on the supply. of course, the fallout on the attack on that aramco plant does continue to unfold. saudi arabia accuses iran of sponsoring last weekend's strike and president trump says the u.s. will be adding very significant sanctions on tehran in the next 48

we are so strong despite jay powell. jay powell is not helping us. other countries have low interest rates. it is very simple. he lifted the rates to quickly and he lowered them to slowly. it is a shame. not too many. not too many boneheads. i tell you what, we really have a great administration. we have a great cabinet. our cabinet has done a great job. >> [inaudible] >> he is a great gentleman. he is doing a fantastic job. he is only going to do what is right. he is only going to do what is right. just so you understand, the conversation i had the president of ukraine was absolutely perfect. people better find out who these people are who are trying to subvert our country. these are bad people. the conversation i had with the president of ukraine was perfect. what you have to do is look at the corruption on the democrat side. take a look at how the whole witchhunt started. now they want to try to find another witchhunt. this one is reverting now to joe biden. he has done some very bad things. i'm am not even looking to hurt him. he needs all the he

jay powell doesn't speak again until early october.ere's plenty of room for traders to make their own decision about whether they think this is hawkish or not and listen to the next few speakers. that could have the market jumping all over the place. we could have the treasury market: big around -- clipping around. there was a difference between the highs on the lows. that will filter into the equity market as well. it will be tough for the s&p 500 to make serious up the moves while the treasury market is jumping around so much trying to interpret where the lower bound is for the interest rate side. we have the fed funds futures looking for as much as 50 basis points over the next year. the fed is saying through the dot plot, they should be unchanged. some but -- something has got to give. the feedback will come through to volatility and equities. see soll not want to much choppiness in the short-term. it will make it tougher the s&p 500 to make a lot of progress on the upside unless we get something surprisingly good come out between

the big one is jay powell on friday. amanda: it feels like we have come a long way from the days where greenspan used to joke about how he was not allowed to say. to be very quiet, not signaling. this is a very noisy fed. is that helpful to the market? mike: it does not seem to be helping. many people are saying that they wish they would speak left. -- speak less. what we have seen is the fed is divided into two groups, those who are waiting to see what happens, because they don't think -- that the economy has turned down yet, at least in the data. and those that think we should act preemptively. that is the tug-of-war going on now. those that think it will and should act preemptively are looking at the trade war, saying it would only make things worse. that was the group that prevailed july 31. right now, the markets think they will prevail again september 18. amanda: michael mckee, always great to have your thoughts. we will be talking about this ahead of jay powell's comments on friday. argentina is facing a debt dile

you won't get something more from jay powell. but bore something good at fed chief. janet yellen was real boring and incredibly powell may just be even more boring than she was. scott in florida scott. >> caller: boo-yah, jim. how are you doing? >> i'm doing figurines pumping in honor of the fed chief. >> caller: i'm dodging some hurricanes >> well, yeah, i think you dodged one what's going on, my friend >> caller: i've held about a 12% to 15% portfolio position with schlumberger over the past two years, 51 years young and i'm down about 45% to 50% in the house of pain. i'm curious in your opinion should i just hold on to it? >> well, no, here's what i did the other day, my travel trust owns it, i've known the company since 1982 and we just decided to take a little bit of a loss it does have a good yield. new management is good but i think these stocks are dead in the water and nothing is going to change my mind anymore so i told you at actionalertplus.com members, i told them that we sold some. phyllis in new york, phyllis. >> caller: oh, jim it is such an honor to b

we are going to get jay powell speaking in zurich. this is last time we will hear from him ahead of the fed rate decision. plenty of people tuning into that and we will carry that live on dab digital radio in the london area. this is bloomberg. ♪ vonnie: live from new york, i am vonnie quinn. guy: from london, i am guy johnson. this is "the european close" on bloomberg markets. let's check in with the first word news with kailey leinz. kailey: job growth came up short in august and that may clear the way for another rate cut. payrolls climbed up below forecast 130,000, boosted by 25,000 temporary workers hired to prepare the 2020 census. china's central bank is injecting stimulus into economies facing new headwinds. it is cutting the amount of cash banks can hold is reserves. the pboc is lowering the required ratio by .5%. the cuts will release 126 billion dollars of liquidity. hurricane dorian has made landfall in north carolina's outer banks. dorian has been downgraded to a category 1 storm with winds up to 90 miles an hour. the hur

he said jay powell at the federal reserv refail again, no, no sense, no vision.here were three descents. two fed members did not want a rate cut while a third wanted a bigger rate cut of 50 basis points. president trump discussed his opinion of jay powell during an interview with ed henry at the southern border. >> i don't think he knows how to play the game very well. they've raised too fast. and i've been saying this openly. and they've lowered too slow. and he took 25. some people were hoping for 50. he did 25. the fact is, when germany gets paid to loan money, i mean, they're borrowing money so they're borrowing -- think of it, they borrow money and when it comes time to pay back, people pay them and we can't participate in that and it's because of the fed. so i'm not thrilled with the fed but despite that we have an incredible economy and we don't have inflation. >> is chairman powell's job safe? >> it's safe. sure, why not. >> you paused. >> i don't pause. evidences got a job. i'm disappointed in him. lauren: you can watch the full interview on fox and frie

. >> melissa, thanks jay powell speaking moments ago in switzerland this will be the last time we hear from him or any other fed official before the next decision the markets almost guaranteeing a quarter point cut. did powell give any hints? what do you think, steve >> we're going to let you and viewers be the judge he was in switzerland, asked directly, asked directly by a member of the audience whether he would be cutting rates in the months ahead you tell me what this tells us >> we're watching all of these developments the geo political risks, breck it, incoming data. and really looking at financial conditions and we'll be assessing those in future meetings and we've said that we're going to act as appropriate to sustain the expansion. >> so that act as appropriate has kind of been the code word for we're going to cut rates given the market thinks we are powell's comments came after the jobs report which he said showed a healthy jobs market and scored an upbeat view of the economy from the chairman. let's take a look. i've divided it up rising wages a really strong house for se se

as you just mentioned, jay powell was able to balance it during the press conference. he said if the economy weakens more than we are prepared to agree -- be aggressive. at one point you look at it of 17 are seven out saying no more cuts this year. however, jay powell is saying at the same time as we said in the past they will act appropriate to sustain the expansion if we can further they will step in. >> i am interested in the corporate news we have coming out. a $40oft announced billion share buyback. some companies are able to repatriate the cash to their investor base. from $.51their shares to $.46. percent up on tencent after hours. i am interested from your perspective big international companies such as microsoft, how winds arehe -- of the coming from the u.s. dollar? it is spiking high today. do you expect the dollar to remain in favor as the rest of the world starts to slow down? >> i have said all year it's hard for me to come up with an argument that the dollar will weaken. it continues to be strong. if you look at the interest-rate differentials is when th

should they just watch for jay powell's speeches to decide what's going to happen going forward? what's the fed's reaction function now? >> right. so what we are looking for through all of the data, all of the events that are going on around the world, we will be looking at the evolving geopolitical events, we will be looking at global growth, we'll be looking at trade policy uncertainty, most importantly we will be looking at the performance of the u.s. economy. we will be looking for things that are affecting the outlook for the u.s. economy, particularly the outlook as it relates to maximum employment and stable prices. all of those things in principle can affect the achievement of our goals. it's an unusual situation, because you know, the u.s. economy itself, the largest part of it, the consumer part of it, is in strong shape. the manufacturing part, less so. but overall, you have seen an economy that i think generally forecasts show growth similar to our own forecast coming at about 2% which is a good solid year. so the difference here is we have significant, really, risks

jay powell is going to go at his own pace.ed. i think the market liked that certainty it got. maria: also maybe it was the philadelphia federal reserve that came out, the index came out, it dropped to 12 but it was higher than expected. markets turned around. dagen, thank you so much. good to see you. let's get right to david asman. "varney & company" begins now. david: thank you very much. stuart is off today. i'm david asman. good to have you here. here's the big story. president trump once again saying he is disappointed in jerome powell after the fed cut interest rates by just a quarter of a point. you will hear the sound. stocks reacting modestly to the rate cut. we are going to be up when the market opens in 30 minutes and i'm saying a lot of that has to do with some positive news about china talks. but there is one stock that's going to be down severely this morning and it's a big stock. u.s. steel. it gave a dismal outlook for its business due

but jay powell, want to keep the fed as much out of it as possible. they will take into account but will not criticize anything. vonnie: the underlying signal here is that the central bank in china could save economic hitth, if tariffs were to china, more so than the federal reserve in the u.s. is that correct? >> i do think they have an impact. the fed ammunition is limited, although the fed can also bring in unconventional measures. the question is how effective that could be. i agree, we need to see a fiscal response at some point. measures the fed could invoke could be limited in nature. obviously, monetary policy has played a role in china's easing, but china has already eased dramatically on the fiscal front, and to some extent on the credit front. that is a more recent development. if you look at china policy holistically, they are in a better place than a year ago. theave some stability in data, including the latest round of pmi in august. i would argue the policy in china is already playing his role in stabilizing, putting a floor under activ

jay powell ups the ante. trump slams the central bank yet again.here be a trade truce ahead. meeting face-to-face as another round of tariff looms large. call it a 10 top safety regulators are saying about the tesla model 3 they are november ever said before. it is thursday, september 19 you are watching "worldwide exchange" here on cnbc ♪ i believe that song is called 10:00 a.m. automatic by the black keys it is not 10:00 a.m. it is 5:27 you get the point. good morning happy thursday i'm brian sullivan let's get going. we are just about half way through the 5:00 a.m. hour the s&p is up. the dow is having a great streak up about 3% on the dow september is historically the worst month for stocks not this time said september japanese market rising about .4 of 1%. a lot of green on the screen in europe all the major indices up higher. not a lot. to the federal reserve now cutting rates again amid some growing division amid ranks and growing pressure from the president. steve will join us now after this move. a diving in that this is a fed divided. >>

what message does jay powell need to send? what do markets want to hear?we can all agree that whatever the fed does today, the president is not going to be happy. i think the key take-away for me is that fed powell needs to tread a fine line between keeping the markets happy and keeping his options open with respect to future cuts later down the line. what i'll be looking for is the number of defense, will they maintain the july defense and more importantly will james bullard follow through with comments earlier this month about 50 basis point rate cut. i think not only will the statement be key but the press conference will be key as well, for signs of descent on the committee. lauren: we want to talk about brexit like we usually do. >> i thought you might. lauren: makes you want t reach for a glass of something. it's -- >> causing me to drink. lauren: we're hearing great britain is stockpiling booze, alcohol, for christmas in case we get a no deal brexit? >> yeah, i think that was a piece in the guardian. it's nice to know the guardian has its priorities

the president talks about it in speeches jay powell is his guy. there was a fed chair who was still in the middle of her term and the president replaced her with him, and he's still mad about it >> reporter: and not only mad, but as the president often does, has a berating tone in the way that he speaks about powell, and that one might even argue might influence some of the decisions we've seen made because there have been these rate cuts and some question whether there is any influence from the white house to the central bank which are supposed to be in straight camps. the president often does not respond to any of the norms for keeping those things in separate lanes. the president uses the bully pulpit to both bully and to have the megaphone of the pulpit for times like this. he's using his power, yes, definitely >> kelly o'donnell at the white house for us as kelly said, the white house has pressured federal reserves to help boost the economy. the fed did so just over an hour ago. jay powell said the central bank does not take politics into acc

if jay powell can't find a way to thread the needle, and presidential pressure simultaneously, this market could have a very rough go of it, next week. let's go to noor in georgia. >> yes, thank you, mr. cramer, thanks for taking my call. >> of course >> this one is on drrk. pepper,s it in line where you think it should be. >> i like the stock. i like the stock very much i think that gam gordon is doing a terrific job i would buy any week, one of my favorites, and not just because i like diet dr. pepper as everyone knows on a late friday afternoon. the market is going to roll, but you got to guard against complacency. things may not go the bulls way on wednesday wondering which companies are controlled by the trade talks with china i'm going to play hostage, nonhostage, and didn't leave investors on the first day of

worst than the chinese, creates more uncertainty and hurts his cause and jay powell doesn't look as along with the president. chris: congress after a long recess is coming back this week and there is going to be a lot on their plate, what do you expect on congress on gun control after terrible mass shootings in the summer on impeachment and on keeping the government running because they still don't have a deal at least on this point on september 30th, the end of the month to fund the government. >> well, on the last one i think that they are going to muddle their way through a solution, may not happened before the end of the month, both parties recognize that it's to their detriment if they don't get a deal and it's to their advantage . then i think they'll get x don't, absent that, do i ent see any action on guns, you know what, my sense is all of the next 3 months is going to be basically drowned out by an action that's going to start this week with a vote by the house judiciary committee to formally move towards impeachment, not formally move toward impeachment -- chris: what doe

. >> fed chairman jay powell after delivering his second interest rate cut from the year, saying its insurance townside risks, facing the economy he mentioned, global growth slowdown, like brexit, inflation not meeting target minor sell-off welcome to closing bell. he did not say and left more optionality on the table the market, as sarah said. equities sell off. they bottomed and roughly the middle of jay powell's press conference there but have recovered if we look at the s&p intra-day. there it is. we did see yields rise following the decision only the short end like the two year and three and five year are higher on the day. the rest of the curb remains lower. slightening flattening but it hasn't, in fact, gone negative. >> one of the biggest surprises is the growing divide inside the federal reserve. as far as the projections, seven to ten seven members of the fed, and not everybody gets a vote here, want another cut ten of them hold steady or we raise interest rates by the end of the year. little confusing as to the path of policy from here and what jay powell is going to be lo

now the ball is in jay powell's court. think president trump had some thoughts next. ♪ devices are like doorways that could allow hackers into your home. and like all doors, they're safer when locked. that's why you need xfinity xfi. with the xfi gateway, devices connected to your homes wifi are protected. which helps keep people outside from accessing your passwords, credit cards and cameras. and people inside from accidentally visiting sites that aren't secure. and if someone trys we'll let you know. xfi advanced security. if it's connected, it's proteed. call, click, or visit a store today. >> the council started to restart net purchases under, at a monthly pace of 20 billion euro as from november 1st. charles: european central bank president going back to the tool box, bringing back quantitative easing, otherwise known as money printing, even taking negative yields even lower. this putting more pressure on our federal reserve to cut rates at their next meeting next week. president trump has a message for powell, the ba

. >>> and jay powell over in switzerland. >> thanks for watching "power lunch. >> nice to be back with you all, everybody. "closing bell" starts right now. >>> welcome to "the closing bell." we have a post fed speech and post jobs number rally on our hands. just 2% or 3% from all-time highs with just 59 minutes left in trade. >>> welcome, i'm sara eisen. let's look at what's driving the action higher right now. the federal reserve, as chair jay powell says trade policy is weighing on investment decisions but doesn't see a recession coming. >>> jobs come in light but wages and participation rise and the unemployment rate stays at 3.7%. >>> and china trade talks do appear on track for october. both sides claiming progress joining us for the entire hour, karen finerman, ceo of metropolitan capital welcome. >> thanks for having me. >> this looks like a strong way to end what has been a strong week for stocks. what stood out to you in the rally? >> to me it's the volatility that stands out to me. volatility both up and down. i'm always long bias, no matter what, which is a blessing and a cu

jay powell managed to turn that around saying he could act aggressively.ar, a minority want another cut. more worrying, next year the dot and suggests no more cuts higher rates in 2021 and 2022. howell focused on the strength of the u.s. economy. the reaction was muted. 10 year yields falling today. backede two year yield up a little, so no huge moves. matt: i saw a quote earlier in a story from the chief investment haveegist at qma, they $128 billion in a fund. he says he would rather have a strong economy that does not need assistance, than being propped up by the fed. i think this was powell's message, and investors should take solace that the u.s. is growing, unemployment is below 4%. it does not seem like an economy you need to be slashing rates by 50 basis points. nejra: that makes sense. we heard from guggenheim saying they are disappointed with the fed. it is still a debate. futures in europe a little soft, flat in yesterday's session. europe futures down 0.2%. cac futures edge into the green. not much action in equity market. index has definitely

how difficult is it for jay powell right now to keep his fed together?arl: i think he has a well unified fed. if you get a third dissent from hawks onrd, and two one side and one dove on the others, you still have a pretty unified committee. constance: someone told me , the fede july meeting shared should resign. -- the fed chair should resign. i said, that seems a little drastic. i was at jackson hole and had the chance to speak to a lot of different presidents and board member's. there's very much a caution about the extent the policy tool thenterest rates can stem decline when it comes from uncertainty around trade. they are not going to be able to change that. what they were able to do is solidify mortgage rates. we certainly seem weak housing for the last six quarters, so that should feed through to a slightly stronger housing market. what they are able to do is weaken the dollar and give space for other central banks to cut because dollar liquidity globally is so important. it is such a hegemonic position as the dominant currency, both in terms of

. >> chris: federal reserve cherry jay powell openly hinting is prepared to cut interest rates againriff battle between the u.s. and china slows business investment and dampens consumer confidence and we are back now with the panel. the august jobs report was disappointing, only 130,000 jobs -- new jobs created and take a look at this to put it in context. over the last three months, job growth has averaged per month 156,000. that compares to an average of 190,000 new jobs a month for the eight years since the end of the recession. dana, between the global slow down and the continuing and perhaps intensifying trade war between the u.s. and china, how big a threat to our economy and how big a threat to president trump's fortunes in 2020? >> i think that the president actually has the pulse of the nation right on this one, they understand that china needs to be dealt with. across the board in every sector but people seem to be getting a little bit nervous. a lot of planes in the air, mr. president. you got to land one of these in the trade deals, both the china trade deal and also the

stephanie: we are looking at how much jay powell manages to walk this line.s had difficulty communicating over the last few press conferences. it is a pretty difficult message to put across. he has a lot of differences on the fomc. he doesn't want to be seen to be just saying i'm going to underwrite any trade war that donald trump wants to create. that is a dangerous place to be. equally, if he disappoints the market that we have seen already in the situation with the repos, the money markets are in a sensitive spot. carl riccadonna talked about him needing to be vague, but directional. that is a tough sell. you need to be clear about the direction, but vague about the details. romaine: everyone that we spoken to over the past couple of days is busily saying the market has already priced for disappointment here. there's no way he can guide with the aggressiveness the market seems to want out of the fed right now. i guess he could come abut it is unlikely he will be able to get the consensus to really come out on stage and do that. so you have a market that is

but i think it's important to remember that not everybody on the fed agrees with jay powell on havingother rate cut and something that chairman powell made a point about earlier in his response was how little room the fed has to stimulate should we hit a recession. and i think that's very important. that's something very much on central bankers minds these day. do we hold to the fire or move now to try to prevent it and cushion against a recession. >> what's your take on the jobs report? >> i think it was a good jobs report, we got more people participating in the labor market. but the disappointment, once you strip out the number of census hir hires you fell below the significance. i think that's really important is that we are starting to see a major slow down, but nothing to fall off of a cliff yet. we're not in a recession yet, but the bottoming of the unemployment rate, unless we see it move down more, this is a time we start to worry about tipping points, where we keep seeing revisions down that suggests we're overestimating our expectations and we need to start thinking about h

>> the fed jay powell gave us views, the market still got a bad case of trading blues.ut the fed after the break. so servicenow put your workflows in the cloud, huh? mm-hm. your employees must love you. thank you. ah, you could say that. so how are things with you guys? great. thank you. thank you, sir. lunch next week? terrific. say hi to the team. will do. call my office, i will. -sounds good. alrighty. servicenow. works for you. woi felt completely helpless.hed online. my entire career and business were in jeopardy. i called reputation defender. vo: take control of your online reputation. get your free reputation report card at reputationdefender.com. find out your online reputation today and let the experts help you repair it. woman: they were able to restore my good name. vo: visit reputationdefender.com or call 1-877-866-8555. by the way, she's the it wasnext mozart.g day. as usual we were behind schedule. but sophie's enthusiasm cannot be dampened. not even by a run-away donut. we powered through it in our toyota prius. because a star's got to shine, no matter wh

how should jay powell the address this today?g to have to -- we don't have a full explanation. there are a lot of pieces of the puzzle. i think that's one of the things he will have to emphasize, that it is a very complex market. when you have a misalignment in one part of the market, it tends to percolate to other parts of the market because you are running very tight. upn you do that, you end with one price spike here, one price spike there, that ultimately is telling us of something about how tight the system is being run. you, so much.k catherine mann stays with us. arabiaup, saudi partially restoring after the worst oil destruction in its history. this is bloomberg. ♪ >> we are back online. the interruption in terms of the economy and revenue is zero. for a couple of days before we are back online last night and today. said we areways committed to the ipo, the government would choose the right time. they will read the market and they will decide. most likely it will happen in the next 12 months. we have options. the large pr

"squawk box" begins right now. >> good morning, show time for jay powell the central bank prepared topolicy decision and a forecast likely to disappoint president trump fedex chairs are plunging. we'll show you what ceo fred smith said about the trade wars and losing amazon's business and adam neumann speaking to employees just hours of that statement released "squawk box" starts right now. >> announcer: live from new york where business never sleeps. this is "squawk box". >> were live from the nasdaq market sight at time square. our guest host for the hour is black rock's kate moore. let's look at what happened with u.s. equity futures. indicating slightly lower. do you slightly down after it was up by about 34 points yesterday. s&p down by just over

jay powell's communication seems to have gotten p better, but it still feels like no one knows where we don't know what this fed is all about. >> the problem is we've had a series of very strong fed leaders going back two general its rations, paul volcker, alan greenspan, ben bernanke, janet yellen. they've been good communicators is and leaders because they're economists who come in with a strong policy vision, and they're like ceos. they bring their staff along, and they bring their board along. now comes jerome powell. he's an attorney, he's a private equity executive, he's not an economist, he doesn't have a strong vision. trump says he's a poor communicator, i don't disagree with that. he's also a poor leader, or at least he's abdicating. he doesn't have a vision as a strong ceo who's supposed to bring people along with a vision. i think that's what ceos do, that's what every fed chair since the '80s has done. so the market is having to get used to the idea of a fed chair who just simply counts votes. so we have no idea what the fed's going to do because the fomc is just 12 vote

get ready, fed chair jay powell set to talk again. >>> jay powell getting ready to speak this hour abouthe economy and fed policy his last speech before the next fed meetinging what happens if investors don't like wha

i'm not sure we will see jay powell talk about midcycle adjustment anymore.ing there hours going with his team, what precisely am i going to say? it's a balancing act because they are data dependent but also market dependent. market dependent means credit spreads, where we saw a scare last year. right now, it's all about the yield curve. they know all about the yield curve of course and they are advised and they know the dangers of the yield curve. anna: what dangers? alan: i think the steepening is much better news, because the steepening is, in the scenario where the 10 year sells off, indicates that may be some of these leading indicators of manufacturing are bottoming. ultimately, i think you are right, it goes one of two ways. either the economy is in much worse shape and rates are going much lower and the curve steepen or we get what we have seen more recently where the market looks ahead and jay powell is right ironically, it's a midcycle adjustment. matt: what do you think about the 10 year going forward? we heard from others, don't bet on lower rates

he says jay powell should cut rates slowly. u.s. companies are planning the trade war for more than 10,000 job losses last month. a report by the a staffing firm says it is the first time the trade war has been given as a reason for layoffs. the federal reserve says uncertainty around trade policy is holding back local growth and may prove a drag into 2020. the rise in trade conflicts in the first half of last year accounts for the declining global gdp of .8% in the first six months this year. it that had trade tensions not escalated in may and june, the head would have it did the drag on growth to have eased. meeting growing opposition to his plan to revive qe and support the eurozone economy. the bank of france is skeptical about the need for new bond purchases, adding to criticism from the plan. the ecb meets next thursday. draghi faces the choice of adding qe without the support of europe's leading economies. global news, 24 hours a day, on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in more th

right now we are in a trade war and it seems to me that is jay powell's concern.t theecession doorstep, but the fed can't wait, isn't that the idea? will it the us 50 basis point cut or 25 basis point cut? andy: i think the fed is an interesting position today. what we are seeing from the fed is a central bank that has historically waited for the whites of the eyes of whatever they are worried about, recession, economic slowdown. they wait for things to be visible before they respond. responding tois worries about what might materialize in the future. be then be good, it can way they achieve a soft landing, which is so hard as a central banker responding in a moment. but it can be dangerous. dangerousd about inflation being stubbornly low. it has gone below the 2% target. today isst risk a see the risk of runaway inflation. inflationren't any watch dogs in d.c. or at the fed, how far away will inflation get from the 2% target before somebody intervenes? before we let you go, i want to return to the theme you are talking about, the importance of positioning for the

tomorrow we have live coverage of the fed decision and jay powell's decision -- jay powell's news conferenceurtado is here with first word news. viviana: donald trump says the u.s. and japan reached an initial agreement on tariffs. the president also telling congress there will be an executive agreement on digital trade. anyo of -- tokyo saying deal must include assurances the u.s. will not impose tariffs on $50 million of japanese auto imports. bloomberg learning regulators may get rid of a rule that forces banks to set aside billions of dollars for swap trade. the rule was imposed after the financial crisis. banks are doing the rule is redundant and puts them at a competitive disadvantage. general motors and striking auto workers remain fall apart and there talks to resolve a strike. says a dealgotiator must resolve 10 key sticking points, wages for entry-level workers and the treatment of employees. it is estimated the walk is costing gm $50 million a day. global news 24 hours a day, on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countri

will the fed ever get into the game, dollar strongest ever, really bad for exports, adding that jay powell don't have a clue and on top of it all, the oil hit. big interest, rate drop, stimulus. the federal reserve is expected to cut interest rates by another quarter point for the second time this year but the chances of a cut are now just 66%. as the u.s. economy faces a global slowdown and the impact of the u.s.-china trade war. complete coverage and analysis of the fed's decision is tomorrow at 2:00 p.m. eastern time. cheryl: benjamin netanyahu is battling for his political survival today. lauren: tracee carrasco has the details. tracee: israelis headed to the polls for the second time in five months after ne netanyahu failed to form a coalition following april's election. netanyahu is facing a stiff challenge from a centrist whose blue and white party is in a dead heat with netanyahu's party. a senate subcommittee today will begin digging into anti-trust issues with big tech. lawmakers are expected to repeat calls to break up companies like google and facebook. the country's biggest te

we will also be focused on the fed's language when jay powell gives that news conference today. oilfield attack continues in the news, iran is blaming the united states for rising tensions in the middle east. this as the saudi kingdom announcing it is expecting you oil production to return to nor l mall levels by the end of the month and it will move forward with the aramco ipo. markets this morning are edging lower. take a look at futures, a decline of 20 points on dow industrials out of the gate, s&p down 3 and nasdaq down 9. we are waiting on the central bank decision. investors are cautious ahead of it. markets edged higher as oil prices pulled back from the 15% gain on monday. dow industrials at at the close up 34 points, the s&pes was up 7, and nasdaq 32. global markets look like this, they are higher across the board in europe, fq100 is up 3 points shall cac in paris up 10, and dax in germany up 14. u.k., consumer prices growing slower than expected in the month of august. we've got economic data out this morning, up 1.7% year over year on consumer prices. in asia overnig

whether or not jay powell ever abides by this we do not know because there are people who will say the dollar will instantly die so i think you see nations like russia you see nations like china these major trading partners especially china to the us prepare for it eventually exit in america there's another headline from the past week that i also think is a sign of d. dollar ization from those who actually have no access to capital who have no savings who have no wealth but a way to do dollar eyes is also to blow up the system in terms of just spending so much more money than you possibly have because this was an amazing story breaking u.s. consumer credit rose by $23300000000.00 in july beating all estimates mostly driven by credit card debt so you know i think. no way this is also individuals who don't who don't own gold nation states who own gold but these individuals are people who sense that this like the free ride the easy money is over and times are about to get hard and it's hard being hard it's hard living within your means it's hard having hard money and living under a hard m

jay powell likes consensus thinking.e want federal reserve to take over. >> i want consensus, as military guy, so are you. charles: military guy, when the highest ranking officer stepped in the room he or she was in charge! >> it says, sarge, what should i do? i like that. other sergeants have input. that is how you come to a better decision. >> during the next week you will see a parade of fed heads walk out on shows like this, walking out whatever comes tomorrow. they will be talking their own book. charles: with respect to what happened overnight, i don't want to get wonky about this, there was a mini-crisis, a lot of people say it could impact the federal reserve. maybe their balance sheet could be larger. help us with this, zach. >> you saw repo rates take off. two big things we saw driving this, corporate tax payments at september 15th tax deadline, while at the same time net treasury issuance in the form of coupons was above 50 billion on monday of this week. those two factors, particular timing of the two, caused