jeffrey lacker not a voting dic at thishe f point. he is leaving earlier than expected.e. this is bloomberg. ♪ . . david: this is "bloomberg markets," trump first 100 days. i'm david gura. mark crumpton has more. reportssociated press russian investigators believe a 22-year-old russian born in the former soviet providence of kyrgyzstan was behind the bombing yesterday. the death toll stands at 14, including the bomber. dozens more kill -- are injured. putin was visiting st. petersburg. asother bomb found wit deactivated. for donald trump's border wall, a potentially lucrative job. subcontractors want to know if authorities would rush to help if workers came under what they call hostile attack. another asked if employees could carry firearms in state with strict gun-control laws, and if the government would indemnify them for using deadly force. u.k. chancellor philip hammond is in india on a mission to promote bilateral trade. at a joint news conference, hammond discussed britain's plans for a reset in played -- trade negotiations and establishing the u.k. as a truly glo

yvonne: what has been top of mind with the news of jeffrey lacker?nt stepping down earlier than was expected this year over this role in a leaked case in 2012. matt: richmond fed president jeffrey lacker said he was not involved in this leak situation the fed has been investigating for years. it happened in 2012, like you said. a big question that remains, was who else was involved? the way that jeffrey lacker made it sound in that statement he released today, his mistake was not hanging up the phone when the analyst he was speaking with disclosed that she had some confidential information already s plans atfomc' upcoming meetings. the internal inspector said they would be closing their investigation of the leak. they did not say how soon for what we might expect to find there. certainly, it leaves open the question, who else was involved? yvonne: and why are they coming forward now? thank you, joining us from new york. lloyd of london ceo joins us to talk about brexit and the insurers asian ambitions. ♪ ♪ this is daybreak asia, i am in yvonne man in

basic resources pulling higher along with oil, gas and banks. >>> richmond federal president jeffrey lacker has resigned over his role in a leak from the central bank. lacker, who was due to step down at the end of october, confirmed confidential information to an analyst in a phone call in october 20612. lacker disclosed the full details in 2015 after failing to do so in an initial probe after the 2012 leak. former atlanta fed president, dennis lockhart told cnbc lacker's leak could have been unintentional. >> could have been inadvertent. something that is a mind lapse at a moment where you're not thinking about the timing, this was a few days before the minutes were to come out. so the leak, as i recall the details, involved disclosing information in advance of the minutes which, of course, is a no-no. you know, jeff has been a -- for me, a valued colleague for many years. i just think this is a regrettable set of circumstances. >> is it in part the communication function of the federal reserve has changed over the years? under alan greenspan it seemed to be confusion was the object of th

jeffrey lacker stepping down over an involvement of a leak of information.andon has that story. >> that's right. richmond fed president jeffrey lacker announcing his resignation yesterday effective immediately saying he broke fed rules by discussing sensitive information with an analyst regarding the central bank's plans for economic stimulus in his letter of resignation he admitted to speaking to an analyst at medley global advisers on october 2, 2012 regarding the fed's september meting. the next day the medley analyst wrote a story including the confidential information. lacker was interviewed by the fed's general counsel late their year and then by the fbi in 2015. on january 10th of this year lacker announced he would be retiring in october. in a statement he said due to the highly confidential and sensitive nature of this information i should have declined to comment and perhaps have ended the phone call. instead i did not refuse or express my inability to comment and the interview continued. he also says i regret in this instance i crossed the line to

we also know who was replacing jeffrey lacker. is first vice president at the richmond fed mark mullinix as well. one point which is in question here with richmond fed president jeff lacker. he is not saying in the statement he put out that he directly confirmed it. he said that the reporter mentioned the move the fed was likely to take and then he says here -- let me just find it -- i should have declined to comment and perhaps have ended the call. i realize that my failure to comment on this information could have been taken by the analyst as an acknowledgement or confirmation of the information. so there is the possibility the reporter either knew it from another source or had made up a number or heard something and perhaps lacker's silence or continued conversation is what confirmed it. he did not directly say he confirmed the information in question here but says he failed to disclose it, failed to disclose it to the general counsel, and it's unclear again what he told in an investigation that involved the united states attor

. >>> richmond fed president jeffrey lacker announcing his resignation yesterday saying that he brokeed rules by discussing sensitive information with an analyst regarding the central bank's plans regarding economic stimulus. this is a strange story that goes back quite awhile. lacker admitted to speaking to an analyst at medley global advisers on october 2, 2012. the next day the medley analyst wrote a story including the confidential information. lacker was interviewed by the fed's general counsel later that year and then by the fbi in 2015. on january 10th of this year lacker announced he would be retiring in october. in a statement he said due to the highly confidential and sensitive nature of this information i should have declined to comment and perhaps have ended the phone call. instead i did not refuse or express my inability to comment and the interview continued. in a separate statement last night the fed said it is comm committed to maintaining the security of confidential fomc information. it goes back to 2012. >> so complicated. a couple things are going on. medley happen

. >> jeffrey lacker resigning today.e says i regret that in this instance i cross the line to confirming information that should have remained confidential. in 2012, like conduct was inconsistent with those policies. >> he is saying he is not the leaker. he was presented with information and sing he should have entered the conversation then and the risk is by not doing that that it infers the information was correct. it is a nuance, but a significant one. >> it is a serious breach of information. sensitive information was given to analysts on wall street, who passed it along to clients who may have made money from it. i would say there is more to come. >> the fed released minutes from its march meeting that show the fed favors plans to shrink the balance sheet this year. the minutes indicate their general attitude on rate hikes for 2017, "for dissipate anticipated a gradual increase in the federal funds rate would continue and judged it change the committees reinvestment policy would be appropriate this year." what is yo

. >> richmond fed president jeffrey lacker resigning today, six months earlier than his planned retirementer he disclosed his role in a 2012 information leak regarding the fed's discussions. quote "in 2012, my , conduct was inconsistent with those important confidentiality policies." >> he is saying he is not the leaker. he was presented with information by the analyst. he said he should have ended the conversation then, and the risk is that by not doing that somehow the information was correct. it is a nuance, a significant one. >> this is a very serious breach of information, highly sensitive information was given to an investment analyst on wall street who passed it on to clients who may well have paid money for it. -- made money from it. i would say there is still a lot more to come. >> the fed released minutes from its march meeting earlier this afternoon, and it showed that the fed favors plans to start shrinking the balance sheet. the minutes indicate their general attitude on rate hikes in 2017, stating "most are -- most dissipating's anticipated -- most participants anticipated gr

jeffrey lacker was a top official and has been the president of the federal bank of richmond for 13 yearse quoted him many times. he resigned after admitting he shared confidential information with a financial firm, a private financial firm back in 2012. he's been questioned by several law enforcement agencies but no charges are expected. very rare to see this kind of a scandal at a fed bank. he apologized in a statement issued by his lawyer. >>> meanwhile senate majority leader mitch mcconnell starting the clock on the nuclear option. the showdown over supreme court nomination neal gorsuch. democrats have 14 votes they need to filibuster or block a full vote on the gorsuch nomination. senator mcconnell has now skaed vote for thursday to test that filibuster. if democrats hold the line mcconnell plans to delayer filibuster of supreme court's nominees can be stopped with 51 votes instead of 60. >> the majority of the senate support to make that happen. mike pence standing by to break a tie if not all 52 senate republicans support the nuclear option. mcconnell says he's confident he has eno

jeffrey lacker was the president of federal reserve bank of richmond.n after admitting he met with a firm in 2012. no charges are expected. rare situation here. lacker apologized in a statement issued by his lawyer. the leak occurred as the fed was taking steps to revive the u.s. economy after the financial crisis. the move success watched by investors. as for today stock futures are flat. that's a whole lot of nothing going on. investors are waiting on friday's jobs report. they will be watching hearth talks closely for any clues for what it means for tax reform. senator majority leader mitch mcconnell starting the clock on the nuclear option. democrats have the 41 votes they need to filibuster to block a full vote on the gorsuch nomination. senator mcconnell has now skaed vote for tomorrow to test that filibuster. democrats hold the line mcconnell plans to declare filibusters of supreme court nominees can be stopped with 51 votes instead of 60. >> mcconnell needs a majority of the senate support to make that happen so vice president pence will be stan

richmond fed president jeffrey lacker resigning today.s comes six months earlier than his planned retirement. it comes after he disclosed his role on a information leak 2012 related to federal deliberations. he says "i regret that in this instance i cross the line to confirming information that should have remained confidential. in 2012, my conduct was inconsistent with those confidentiality policies." >> he is saying he is not the leaker. he was presented with information by the analyst and he is saying he should have ended the conversation then and the risk is by not doing that that it infers the information was correct. it is a nuance, but a significant one. >> it is a serious breach of information. very highly valuable sensitive information was given to analysts on wall street, who passed it along to clients who may have made money from it. i would say there is more to come. ♪ >> the fed released minutes from its march meeting earlier this afternoon and it shows the fed favors plans to shrink the balance sheet later this year. the min

richmond fed president jeffrey lacker seen stepping down as his position today, he was supposed to retire in october. in a statement he revealed he was involved in an alleged leak of confidential information, fed information back in 2012. federal reserve commented, federal reserve committed to maintaining the security of confidential fomc open market committee information. so that is an interesting development. melissa: hmmm. white house reportedly considering methods extreme vetting of visitors to the u.s. new details that could have travelers handing over much more than that passports. david: keeping irs in check, a method first designed to stop drug traffickers, money launders, a lot of small business folks as well. what is being done to fix irs over reach. melissa: susan rice speaking out to responding to accusations she inappropriate unmasked trump officials. this as republican leaders called for her to testify under oath. >> i'm not going to prejudge here, but i think every american should know whether or not the national security advisor for president obama was involved in unmaskin

jeffrey lacker resigns abruptly. and an internal brexit battle. the u.k. chancellor tells bloomberg that even members of his own party don't want to deal with the european union. this is "bloomberg surveillance ." we've just got to get to some breaking news for you. we've got eurozone services pmi data and the composite coming through. let's look at the services first. we coming in at 56. this is a miss. was 56.5.ation it is a little weaker than the prior reading. at composite index coming in 56.4, again a miss on the survey and a little weaker from the prior reading. 1.0676, pretty much unchanged on that trade. let's get to your markets. speaking of things that are unchanged, quiet in equity markets. i wanted to show you the rand. , the randdollar-rand strengthening, best-performing currency against the greenback today. we did see it rebounding yesterday and we've had some news that the markets are reading as positive for president jacob zuma. the 10 year yield down to basis points. we saw the 10 year treasury yield within touching distance of the lower b

richmond fed president jeffrey lacker is resigning immediately. , andat we whatever back story we have figured out so far? lacker was due to retire this year, it's happening immediately. the circumstances are surprised given the way the richmond fed has prided itself on being this bastion of central banking rectitude. throughthat jeff lacker his statement and subsequently confirmed to us on the telephone by mr. lacker, this concerns the 12obe of these september 20 fomc minutes. they opened the floodgates again and added an extra layer of treasury purchases and listen to forward guidance. medley published a report in october, the day before a september meeting came out, foreshadowing this further swaying of easing in december. the report was called december band, and this erupted a while ago, they're been multiple investigations, the fed ran an investigation, the fed ig ran an investigation, jeff lacker talks about the fbi talks about seven district of manhattan. the plot thickens, and we find out more in the coming days. thank you so much, dan moss

jeffrey lacker resigns abruptly. and an internal brit

black eye for the federal reserve jeffrey lacker, he has resigned after revealing involvement in allegedeak of confidential information. he admit today speaking in october 2012 with analysts at global advisers, the day before it sent report to clients that contained confidential internal information about fed policy deliberations. that leak sparking a criminal investigation and prompted outrage on capitol hill. well, staples, the office supply chain putting itself on the market. news comes less than a year after merge. the wall street journal say it is number of buyers have come forward including private equity firms. annoyed homeowners said that pokemon go players have gone too far in their quest to master the game. class-action lawsuit has been filed against the app's maker and antic over players trespassing on private property. homeowners are complaining that homeowners are knocking on their doors open -- hope to go capture creatures. no, out, good-bye. maria: exactly. jamie dimano, what he's warning and what that could mean to the market? redefine take on ballpark food coming up righ

we have breaking news from the fed on former fed president, jeffrey lacker. g? >> reminding folks about the case, jeff lacker abruptly resigned today saying he was involved in a 2012 leak of confidential information to a news letter writer. now the federal reserve board of governors has a statement as well as the inspector general. the federal reserve saying it is, quote, committed to maintaining the security of confidential steps fomc information, cooperating fully with the independent law enforcement investigation into unauthorized disclosure 2012. we appreciate the diligent efforts made to bring this matter to a conclusion. r regarding that, the inspector general out with a statement saying it would be resolved soon, not saying exactly when, but saying that we are currently concluding the investigation into this matter, and not putting any timeline on it that i can see, but it's just being concluded right now. so hopefully in the next who knows how long here, but a short period of time we'll get some conclusion of this from the inspector general, and just t

richmond fed governor jeffrey lacker is leaving today avenues broke over inappropriate disclosure ofion and fed policy moves. he was supposed to formally retire in october. obviously moving that up in light of these developments. if we get more on this, we'll pass that along. lacker leaving the fed a little bit earlier than the october dismissal originally looked at. >>> is the president's infrastructure plan, it's a doozy, one trillion dollars plus something democrats can support and pave the way for support in tax cut? let's ask democratic congressman, house appropriations committee member, from state of texas. congressman, good to have you with us. >> thanks very much. pleasure to be with you again. neil: are you interested in this infrastructure spending the president is outlined? woulding bigger than that, more than a trillion dollars, would be more than roads and bridges, would be power grid, air traffic control system, is that is good thing. >> every great civilization has a strong transportation system. this is one of the things we need here in the united states. yes we're re

and richmond fed director jeffrey lacqu lacker will talk too big to fail.nd in political news, president trump is going to be hosting chinese president xi at his mar-a-lago resort in florida. ahead of that meeting, the president suggesting trade to be a key issue to secure china's population. the interview with "the new york times," i'll tell you, china has great influence over north korea, china will either decide to help us with north korea or they won't. if they do that, it will be very good for china, if they don't, it won't be good for anyone. also saying washington is ready to go and make a big press against the nuclear missile programs on its own. here's the headline, if china is not going to solve north korea, we will. there you have it. >> i don't know what that would entail. >> what does that mean? >> i don't know. >> suggestion has been that there would be a strike that take it out. tellerson alluded to that, too. >> i know, japan is right across the water there. the west coast, i don't think it's risky. >> pretty scary stuff. >> look, anybody wh