on jerome powell.n announcement is unlikely this week. say the u.k. has offered more on brexit than before, but must do better if advance.ons are to while theresa may sent significant signals, she has not changed her stance. the german chancellor added that it is motivated to trade by december and sees zero indication the brexit talks won't succeed. hasspanish prime minister won the backing of other eu leaders as he prepares to take direct control of catalonia. the separatist leaders meet on monday to plan their next move. they are asking for supporters to pull money out of banks in protests. its youngestas leader in 150 years after labor won the backing of the countriy. beenjust 37 and has compared with other youthful figures such as emmanuel macron and justin trudeau in canada. a slowdown is coming and capitalism needs a human face. announcer: from our studios in new york city, this is "charlie rose." ♪ ahead, pollsl suggesting shinzo obvious election gamble will pay off and clinch another four years

today it seems like it is jerome powell. would jerome powell be a good choice for the economy?that john taylor or janet yellen can't bring? toohey wouldn't distinguish much between choices such as paolo or taylor given they have been working together and seem to share in a broader sense some of the views on how policymaking should be done, more rules-based , not as much data dependency, not short-term data dependency. i think that will be the big difference. jerome powell or john taylor, the market would and thatre hawkishness will short-term impact the markets on treasuries and the u.s. dollar. >> what would jerome powell signal in terms of president preferences? one guest says he favors the market situation where they stock market is at record highs. he wants to stay the course but do something different. that jerome powell has a different stamp to janet yellen when it comes to regulation? get the feeling it is more to do with regulation. ,n the rules-based approach that would imply more hawkishness, and i doubt that would be good for the stock markets and something that woul

vonnie: and michael, final question on jerome powell. if we are likely to see something by next thursday -- of course there are several months still to go with janet yellen. we got gdp debt is money. it was the first reading. it could be very much revised. we have the several months. when we see a rate hike between now and presumably went jerome powell or whoever it would be would get confirmation? the marketat is expectation -- we will not see one on wednesday, but we will see one in december. that would be janet yellen's penultimate fed meeting. she will have another one at the end of generate, but no news conference. it will be her last chance to address if she is renominated, her legacy, and going forward. the fed is calling for three. if we keep getting three handles on gdp and unemployment at 4.2%, three or more could be on the table. we have no idea because we have no idea who will be on the fed and where the economy is going. interesting 2018. vonnie: thanks to our roundtable -- michael mckee, and barry bannister, chief equity st

might that very specific someone winning the keys to this prime piece of real estate the favorite jerome powell the former investment banker republican is already a member of the fed's governing board markets would welcome his nomination believing he would continue with yellen fiscal policy gradually tightening the reins after a period of extremely loose monetary policy then a stanford economist john b. taylor his chances are slim though insiders believe he would raise interest rates too fast and don't forget current chair janet yellen in theory she could serve another term but it's the trunk will be looking to turn his back on any obama administration appointees meaning sometime this week she may well find herself on the receiving end of that well worn catch phrase you're fired. well the white house reckons we're going to get a decision on thursday let's go live to only bots you standing by in frankfurt jerome powell is the market favorite yours as well. yes i've seen speculation on the wires as well that he has to be crowned and then donald trump can say you're hired and to johnny tell

might that very specific someone winning the keys to this prime piece of real estate the favorite jerome powell the former investment banker republican is already a member of the fed's governing board markets would welcome his nomination believing he would continue with yellen fiscal policy gradually tightening the reins after a period of extremely loose monetary policy then a stanford economist john b. taylor his chances are slim though insiders believe he would raise interest rates too fast and don't forget current chair janet yellen in theory she could serve another term but it's true that trunk will be looking to turn his back on any a-bomb administration appointees meaning sometime this week she might well find herself on the receiving end of that well worn catch phrase you're fired let's go over to all the bots who's standing by for us in frankfurt to give us the european perspective on this story only does de frank the traders have a favorite. yes they should certainly do i don't think anybody would like to see janet yellen leave the fed i think there is almost universal acclaim f

jerome powell-john taylor mean for the fed?ts. investors will like those combo packages, balance and even this, so if it is powell-taylor or yellen-taylor, the market will take it better. all these things are positive to equities, but it is hard get yields to surge higher. it is likely to be supportive are equities this week, but is the same reason it is likely to send yields lower. yvonne: so we don't get tax reform by the year end, what could happen to yields in the dollar? is the one thing that can get sustainable higher yields, but it needs to be a reform,kage proper tax not just superficial tax cuts that creates nervousness about the budget deficit over all. it looks like we might get some tax cuts. i think investor optimism is high we will get something deliver, but how stimulative this will be next year is much more difficult. be clear from to this week which way it will go. given the optimism, it is more likely lower we will get tax reform at the end of the year. again, that is the one risk that could go either way, put

yousef: governor jerome powell could be who he is leaning towards.opped $60 a barrel for the first time in two years. saudi arabia pushing for extending bills output cuts. oil --in oil classes -- we will break it down with all of the details. it is it :00 a.m. in dubai. 5:00 a.m. in london and midday in hong kong. you are watching "bloombergrg markets: middle east." what a genetic finale to the week with strong earnings coming out from amazon. not just setting the tone for next week, but helping a lot of key benchmark industries in the u.s. let me run you through the numbers. nasdaq 100 is a record on its biggest gain since march of last year. we had the s&p 500 hitting a new high after the u.s. gdp numbers came in stronger than expected. strongest executive orders in three years. it was not all rosy. ge still under pressure, down 13% for the last week. strong gains for nasdaq up 2.2 percent. in terms of where we are with u.s. tenure paper, speculation continues on who will be the next fed chair. treasury yield falling. they are at 2.41%. and showss

." ♪ jonathan: coming up, the president is said to lean towards jerome powell as the new head of theederal reserve. the best back-to-back quarterly growth since 2014. draghi's stimulus plan helps insulate europe from political chaos in spain. we begin with the big issue. double lines -- good luck they can be the moment of truth for the bull market. >> the graveyard of investment strategists for the last two or three years. >> i think they have a right to be a bit cautious or unnerved at this point. it seems the bias for rates is upward. >> the bond market has been in a 30 year bull trend. yields keep going down and returns are good. hate to argue with him, but i think he is maybe too pessimistic about where bonds are. we will be in a 2.4 to 2.7 range. >> we are in an environment where you will definitely see bond yields head back towards to 2.6 or 2.7 level. i am pessimistic about the probability we can get higher. >> it is just a question of pace and pass. how fast is that going to happen? we don't think it is going to happen externally fast. i don't think it is going to be are real

here at home, president donald trump leaning toward appointing jerome powell as the new fed chairman.he decision is expected next week. the big story today

july by the way sources are claiming that donald trump might pick jerome powell and that is also very unusual because since world war two every. fed chairman or woman got actually a second term across party lines so that also would be a first under donald trump to break was this sort of rule and we'll be eyeing that decision this week james corden new york thank you so much entertainment company netflix says it will end its critically acclaimed political drama house of cards after its upcoming sixth season the announcement comes a day after one of the stars of the show kevin spacey has been accused of sexual misconduct the company stated that it was deeply troubled about an allegation made against spacy by actor anthony rapp he claims he had made sexual advances to him when rap was fourteen years old chinese president xi jinping all listed some top names in the business world in beijing on monday she is the new champion of global free trade apple c.e.o. tim cook was there just days before his new i phone ten goes on sale in china perhaps feeling less at ease facebook founder mark zuck

>> jerome, that is 100% everyone down here is looking for, jerome powell, the fed governor. today. jerome powell being very similar to current fed chief janet yellen in her dovishness. likely to carry on a similar monetary policy as opposed to john taylor from stanford known to be more hawkish, likely to raise rates, would be more likely to raise rates sooner rather than later. the other . >> it has been pretty darn good for investors. i would ask, why, why threaten that in any way? if it ain't broke, don't fix it. why not keep janet yellen in the seat? >> i just think he wants to do something different, put his own stamp on things, trump. the jerome powell will be the guy. it is simple. easy money has let markets do what they have done and john taylor thinks like me. he believes easy money is not good in the long run. it is really hurts savers, number one. number two, the markets, who knows what price discovery is at this point in time. expect powell, expect easy money but -- trish: is this extension of janet yellen? similar policies. >> janet yellen, which means, slow-goin

take your pick, but i'll take the possibility of a jerome powell-led fed. is that going to be markedly different from a yellen fed? good for investors in neutral? >> i don'tening it's going to be markedly different. the big concerns was perhaps president trump might select someone more hawkish than janet yellen, something the likes of john taylor. if you look at the shape of the yield curve now, it's not significantly steep, so aggressive moves on the short end of the curve could have foretold a looming recession. i think in jerome powell is the choice, that risk goes down considerably. >> let's move on to tax reform, which hasn't happened yet, but they seem to be making some progress. does that have the potential to unnerve the market? because there's in back-and-forth about what deductions will be allowed in, how retirement savings might be treated, et cetera. >> the good news is a lot of the moves were in the growthier segments of the markets, so if this market rally was all about expectations of tax cuts, then you probably would have seen small caps out

jerome powell to succeed janet yellen.ear watchdog says iran is complying with the nuclear deal and is calling on all parties to abide by their obligation under the accord after president trump refused to recertify the deal two weeks ago three washington imposed new sanctions on tehran. iranian president ronnie last month -- rouhani rejected talks of the you engender i -- the u.n. general assembly. presser sinceder overseeing a push for independence that has drawn the anger of baghdad and neighboring countries. as parliament debated his supporters forced their way into the building to protest against treatment. global news, 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. you can find more stories on the bloomberg at top . we are seeing the regional index trying to hold on to those november 2007 highs. .6%.si 300 down the shanghai composite and have had its biggest intraday drop so far this year. we are seeing the bond rout continuing china as well. the nikkei fell slightly

thate: we are hearing perhaps jerome powell will be the next fed chair.ean for the boj? kazuo: it does not change much or make much difference. there will be continuity. it does not make a change in any material way. it, formerreciate boj executive director. kathleen: bloomberg news getting its scoop. all, trump has made up his mind on the fed chair. he just met with janet yellen today, he is thinking it -- he is taking it very seriously. advisors say he is leaning toward john taylor, taylor rule, considered hawkish, or, jay powell. steve mnuchin is one of the people pushing for jay powell. for one reason, he knows banking, is open to looking at regulation. with his experience and background he could give a reasonable, intelligent, careful look at this. fed chair announcement unlikely to come this week, officials are saying. again, donald trump realizes this is probably one of the most important decisions you will make, one of the most important appointments he makes, while he is president. we will have more on the fed coming up. a lot more ahead. this is

jerome powell, what are your takes over and if jerome powell were to be the guy in charge, what wouldt mean? apart from janet yellen, he's the least likely to rock the boat. he makes slightly more hawkish that yellen but not significantly. yellen says there is a put rates of seven times by the end of 2019 and a market is only pricing two or three more rises. we think rates will go faster than the market expects. estimates that interest rates the to be quite a bit more higher. will the market see him as the taylor rule or more hawkish? will i think markets assume there is a higher path then currently expected. continuing oren powell, but taylor and walter yellent hawkish while more dovish.e either taylor has never had a conflicting opinion with the majority -- powell has never had a conflicting opinion or in some way he thinks he should be voicing it. let's get away from the fed and political talk and get into asset talk. we still have able market that is pretty long in the tooth. equities still don't seem expensive and volume is low. would you buy u.s. stocks here? mike: we are still

you have reports that the president favors jerome powell helping the dollar advance.p might be because it --might be the reason they got higher. the euro weakening. not much of a reaction to the breaking news on spain. prime minister mariano rajoy sacking the entire catalan government and calling for regional elections. emerging-market currencies, dipping lower. trend interested me. they are down for a 7th day. not partaking in the selling was the brazilian riau. down is the dollar losing ground versus the riau. joe: let's look at a intraday chart of oil and gold. supply is going to remain limited. on west texas intermediate. gold futures ticking a little higher. let's look at a five-year chart of brent crude. barrel back above $60 a or the first time in a couple of years. breaking out of a little bit of a range and getting momentum in the oil space. those are today's market minutes. scarlet: here's some insight into the positive sentiment and whether it is sustainable, gina / . the nasdaq closing at a record high. nasdaq sincethe november of last year. these tech com

jerome powell got a boost after reports suggested he is the top pick for steven mnuchin. he reportedly has been recommended to president trump powell's odds of selection are the other front-runner, kevin warsh and far ahead of fed chair janet yellen i guess it's ul up all up to dod trump. our colleagues will speak to steven mnuchin, first on cnbc at 13: 13:35. let's talk about the fed with patrick spencer from robert b. baer. great to have you on the show. there is a lot of concern about the lack of inflation. fomc members are trying to look for it it's nowhere to be found do you think it's a temporary phenomenon or longer lasting >> i think yellen will run the economy hot despite inflation. so irrespective of that, they're committed to cutting the fed's balance sheet. they have talked about reducing that if you look at the financial markets, they're predicting a 90% chance of a fed hike in december you know, the script is normalization, and i suspect even though the dot plot from the fed is considerably higher than consensus rates, higher rates are coming >> is she right

might that very specific someone winning the keys to this prime piece of real estate the favorite jerome powell the former investment banker republican is already a member of the fed's governing board markets would welcome his nomination believing he would continue with yellen fiscal policy gradually tightening the reins after a period of extremely loose monetary policy then a stanford economist john b. taylor his chances are slim though insiders believe he would raise interest rates too fast and don't forget current chair janet yellen in theory she could serve another term but it's the trunk will be looking to turn his back on any obama administration appointees meaning sometime this week she might well find herself on the receiving end of that well worn catch phrase you're fired and let's go over to all the ballots are standing by for us in frankfurt to give us the european perspective on this story only does the frankfurt traders have a favorite. yes they should certainly do i don't think anybody would like to see janet yellen leave the fed i think there is almost universal acclaim fo

last night in the event, jerome and i we re night in the event, jerome and i were there and there we nervous of placing kids with different backgrounds? they have been. as recently as the 19805, the view was that you must never, ever place a child with carers of a different skin colour, that has changed radically, but there is still a bit of a delay and caution about that. what needs to be done much more in the game does happen, people like jerome need to be asked what they think. assumption should not be made aboutjerome's culture because he can talk confidently about his life and the things he likes. but there is a difficulty when they are two or three. we should not impose a cut on a child. there is a fear that young kids do not understand. i was four when i went into ca re not understand. i was four when i went into care and i knew who i was. i want to change the direction. we are talking about background and we have not focused on religion. is it prefera ble have not focused on religion. is it preferable that foster carers are perhaps not particularly religious, they are secular

the market is leaning towards jerome powell being the next fed chair.ket is looking, this is pricing in too much dovishness into this outcome. my personal view is that i would expect the fed under jerome is easier onse he banking supervision, that we should be thinking that, if he is slightly more hawkish than wo off, you net the t and the path of expected interest rates should be the same. so i think the market is pricing this into dovish-- in too dovish. nejra: were they not just pricing out taylor or were they pricing in powell? peter: given everything that has happened since we started, putting yellen out of the taxing, given that we have reform is now significantly more probable than it was, i think we are at a price in a more dovish path. that is what is interesting to me. we seem to be underestimating the potency of a fiscally positive tax plan, and we seem to be underestimating that rates to zero. he is still looking to raise rates. tom: why are we looking at december 13? here is a fed chair, in place with immense prestige, even by her critics.

it really flipped when jerome powell was put into the list.was when we -- when the five-year part of the curve started to rally. and i think this is probably is considering how things will pan out. we have got a weaker dollar. it means any fed chair is going to have more opportunity to put interest rates up. let us not forget yellen was on the dovish side. in the chair, she saw they were coming toward the end of the cycle, felt the need to start tightening policy at any opportunity given so they would have room to cut rates after that. now, i do not see, even if you get another dove in the chair, whether they would have enough confidence in the transmission of monetary policy, in how the economy is working to keep rates very low here. guy: institutional framework of the fed is pretty important. peter: that is how it is perceived. guy: the reaction function is interesting. peter chatwell, still with us. a bloomberg you are customer, you can do what i am about to do now, which is punch in tv . you're going to get a page that looks a little l

jerome powell, his chances have spiked in the past days following politicos report that he is the frontunner in addition to bloomberg's report that he and john taylor are also leading the charge. at least in the front runner of the federal reserve race. clearly this is coming down to the wire but it is not back whens as it was progressives were divided on janet yellen and larry summers. now, it is me turn always dangerous on betting about this but sometimes there are more correct and other kinds of polling. president donald trump is unpredictable. we have no idea who we will pick doing? >> these odds have moved around based on the latest media reports based on who has found favor with whom. whether bloomberg or politico. if you go back a couple weeks, a , a wallridays ago street journal report kicked off things. to get to kevin's point about senate confirmation, the thing to note about jay powell, when he was confirmed a few years ago he got more than 70 votes. when was the last time, kevin, tell me, that happened? kevin: not for quite some time. we should note that some folks privately

janet yellen is said to be on that list along with kevin war jerome jerome warsh, powell, and gary cohn. tom keene asked stanley fischer about the leadership of the central bank in an exclusive interview. >> this is a choice clearly of the president and the administration, and that decision is up to them. there are candidates whose names are in the newspapers. that is how important they are. it is really not appropriate for me to get into deciding who is going to be the next chairman. tom: i would suggest that is probably true. brendan murray would disagree. the basic idea of if we have the turmoil we have in america and the economic uncertainty in our theories, will that migrate us toward a more rural-based system and away from discretion over the coming years? of athink the attraction rural-based system is large and in practice you will find yourself having to define all the time when it is appropriate to divert from the rule, because the rules do not anticipate the many strange things that can happen in any economy, even such things as three rate hikes in a row, which is not a huge s

>> no, they weren't home. ( laughter ) jerome and i would be, yarrrr! do we do? he would go, yarrr, we have to plug the holes of the ship in the bow! my mom's room was the bow. i saw her dresser, and we opened up the drawer to get some tools and found her vibrator. i didn't know what a vibrator was. >> stephen: i still don't. till don't. i told jerome, yarrrr! you found the magic tool, plug the holes with the magic tool! >> he went around plugging the holes. i jumped off the couch and hurt my back. i said fix my back with the magic tool, yarrrr! he's like, yarrr! i said, yarrrr! keep on going! i hope that never happens to her does a -- ( applause ) yeah. >> stephen: yeah. o proof your house, please. >> stephen: yeah, definitely proof your house. nice to see you again. >> thank you. >> stephen: "superior donuts" returns monday 9:00 on cbs. we'll be right back with a returns monday 9:00 on cbs. we'll be right back with a performance by fleet foxes. t cd's, baseball cards... your old magic set? and this wrestling ticket... which you still owe me for. serio

commentary to our own land jerome x. series is a very simple recipe but that's why i made a sly can have. fifty international dish is. the recipe for cooking the dishes to join. the kitchen. the city. in sixty minutes long. takes away. with the wonderful people and stories that make the game so special. true fans. love. more than football online.

might that very specific someone winning the keys to this prime piece of real estate be favorite jerome powell? the former investment banker and republican is already a member of the fed's governing board. markets would welcome his nomination believing he would continue with yellen's fiscal policy gradually tightening the reins after a loose monetary policy. the stanford economist john b. taylor. his chances are slim. insiders believe he will raise interest rates too fast. don't forget crept chair janet yellen. trump will be looking to turn his back on any obama administration appointees meaning sometime this week, she might find herself on the receiving end of that well-worn catch phrase, "you're fired." >> the guessing game surrounding the new fed chair has been going on for weeks. is this normal when it comes to appointing a leading central banker? >> it's highly unusual what we are experiencing right now. in the past, presidents have not even acknowledged that they're even looking at different candidates and the whole process resembles the former trump tv show, "the apprentice" this

stories in the paper that one of those could be the governor, jerome powell. what have you heard? we hear all different names. a handful of people. we have not heard officially from the white house. i believe it is president trump who said he would make the decision before he leaves. time on his schedule, most of what we have seen is will you -- what you would expect. host: the white house correspondent joining us, thank you for your time today. guest: thank you. we are alive this morning waiting for the start of the combating opioid -- opioid use. we're expecting bill clinton and maryland congressman eli shook coming spare this is hosted by the johns hopkins blumberg school of public health in baltimore, maryland. it should get underway a couple of moments. while we wait, we will show you a conversation from this morning's "washington journal" about political polarization am divisiveness. the author of "republican left thehowever liberal bubble and learned to love the right. you open the book with a story based on your not -- on your own neighborhood. and it sets the stage for wh

. >>> the next fed chief treasury yields fall on a report that president trump is favoring jerome powell for the job. global market implications for jay powell straight ahead. >>> and the dodgers heading to the world series for the first time in almost 20 years. it's friday, october 20, 2017, and "worldwide exchange" begins right now. >>> good morning. happy friday welcome to "worldwide exchange." i'm sara eisen >> i'm dominic chu in for wilfred frost. we are starting your weekend off with taylor's swift single called "gorgeous." >> taylor swift's new single are not like they used to be >> i don't know i'll give it a chance to grow on me >> we are seeing action in u.s. equity futures after that late senate vote that cleared the way for reconciliation dow futures are higher, up 80 points s&p up 4.5 nasdaq up 12 points. the nasdaq yesterday was the only one to close lower. the tech selloff led the nas da down the dow and s&p finished in record territory yet again the party keeps going. >> among the reasons for the jump in futures, big news out of washington the senate passing a budget reso

by naming a new chair of the fed this thursday, according to people familiar, he's leaning towards jerome powell but his backing isn't final yet. and hsbc's big bet in asia may finally be paying off but to its surprise, low growth in china led the region's revenue gains, operating costs came in higher than expected and we'll hear from the bank's finance director this hour. a look look at the european equities trading and we're 30 minutes away from the end of the monday session. stocks are holding on. look what's happening in spain, no big impacts on equities from the government's plan to take over the administration of catalonia, the "best up 2.8% and sterling up ahead of the b.o.e. meeting this week when it's widely expected to raise interest rates for the first time in a deak. bond yield are falling commodities and your final two columns today, i want to get to novartis shares who agreed to buy advance accelerator applications, $3.5 billion in cash, forming up a pharmaceutical company whose drugs are used to diagnose and treat diseases such as cancer and novartis' head joseph jimenez is

dollar, it was down on reports that jerome powell is the front-runner that put pressure on yields, thenove higher as the senate passed that budget blueprint with renewed hopes for the reflation trade under trump. euro/dollar at 1.18. the dollar is higher against the yen, up by 0.7%. we have the crucial snap elections in japan over the weekend. >>> shares in apple fell almost 3% on speculation of weak iphone 8 sales. one canadian wireless carrier described demand as anemic it raises further questions over the company's staggered release strategy for the latest phones with the iphone 10 set to go on sale in november verizon's cfo, matt ellis, says he expects an upgrade surge when the new apple product is released >>> lyft raised another $1 billion in funding led by capital g, the investment arm of alphabet this values the ridesharing service at $11 billion. this might pave the way for an eventual ipo the uber rival says it is available to 95% of the u.s. population from 54% at the start of the year. lyft said capital g partner david lowrie will be joining the board. >>> paypal shares rose

he was freely walking around his home city of jerome surrounded by supporters and media the prosecutor general is set to announce charges. pushed him or made a t.v. address to catalans calling for peaceful support. it is clear to us that the best way to defend what we have achieved so far is to have a democratic opposition to article one five five this is the response to the deliberate action against catalunya who have for many centuries felt different we have to overcome any threats and to act in a civil and peaceful manner. for those watching in barcelona there seem to be as many doubters as supporters. and i don't agree with making unilateral declaration because in the end even if the people who participated in october first have moral legitimacy they don't have legal that say here at the seat of power the palace of the generalities that it was unclear who was really in control one secession activists said large numbers of students had contingency plans to guard the building it would have to to defend. the people. that the police not be able to arrest the president right now the spa

putting jerome powell and john taylor is front runners.jerome powell is clearly the front runner at this point. i can tell you from this forces -- the sources i have spoken with on the senate banking committee that the nomination process will likely approve any of those five names would have been discussing. this is a much less contentious fed chair race. this is more conciliatory in town. not tocans would like see janet yellen re-nominated. some republicans are on record as having voted against jerome powell before. but likely to not have any hiccups. -- let's let's mike wrap up the market action. the dollar is holding the two-day slide briefly touching the highest level in a week as investors turned cautiously optimistic on president trump's tax cut plans. michael joins us. he remains the most bullish on the street. in the last 24 hours, the fed chair versus tax cuts. >> a lot of the storyline we have been talking about this year is now playing out. in august, i don't think it was so visible we would make progress on tax. there was uncer

outside of her, there is jerome the stepper professor of economics jerome taylor.the fell on thetures report. equities opened higher as well. metlife is back with us. let's go through the political report. talk about who is going to be the next fed chair. >> lace-one source saying yellen is out. and then in the next they cite another source saying she may not be, and they say that president went on television and that he likes for very much. there is no definite answer to the politico report. it was a compilation of things. it may be overplayed, which is why you are seeing that come back. jonathan: how can we follow these headlines and make some decision? >> you have to look, or other options that would be worrisome? the answer is no. if someone was put forward that was worrisome, will they get through the senate? the answer is probably no. like the harriet miers supreme court thing. the next candidate is good and easy to work with. is not to overreact to any of the headlines and just wait and see what happens during any one of these three will do a reasonable job,

the news broke that jerome powell was the front runner. taylor is the other front runner here. we have been seeing an increase in bond yields today alone. here is the upswing when that news came out. we don't know until it is a done deal. the increase in bond yields is helping the financials as well. we had financials in the top spot with a 1% gain. definitely supporting gains in the market. technology also bouncing back. consumer staples remains in the negative because of earnings. if you take a look at our big earnings movers, let me start, if you look at proctor and gamble that is pulling down that consumer staples group. the company has fended off a proxy battle who tried to get a seat on the board. the company is making some progress but not in other areas. sales met estimates, the company so weakness in some segments. has accepted ac representative on its board. the company made comments about the size of its board after it slashed profit forecast. sending shares down. the shares are not down as much as they were earlier. we will talk more about ge in a moment. and a stee

the big guns are back and robin thomas miller front reburied jerome saying and mats hummels were on the pitch right from the start from the buy and fans point of view when he said no has corrected his previous s's mistake his own point of view was somewhat blocked leaving the interim coach almost unable to see the consequences of his own rotation boateng to homo's by an in front after ten minutes a strong start for sanyo but he's bosses weren't quite convinced the team was still looking less than certain after eighty minutes terry dar went down in the books after a challenge from having martinez. but the video referee dashed barely aims hopes and saved by an skins. the guests went into the break in front. sanyo seemed to have woken his stars up in the changing room and never made it to neil almost immediately after half time after he held off nicklaus stock the game looked to be decided but had has gained key had a good she danced past by the tang then passed what was and made it impossible for under a dude to miss. just five minutes later this free kick from the impact and hard went st

himself whose pa rt team trump and jerome himself whose part of it that is not yet appointed.were false and got stanley fisher, the deputy head, stepping down. a potential game changer in the terms of the way things are done. it is clear that walsh is not necessarily trump's favourite because he is more likely to be hawkish, that means he would like to raise rates earlier whereas trump likes or like approach keeping the economy moving along. there's been a spike in us car sales in september, the highest for 12 years, because of hurricane damage. this is a breath of life for the car industry, it was clearly worrying because people keep cars so much longer than hitherto. a lot of people are now waiting to buy electric cars. this is obviously a significant positive thing for the car industry and the conviction industry because however damaging it is from a people point of view for the economy it will mean a lot of money. james bevan, you'll be back to discuss the papers at the end of the programme. we are receiving your tweets about yahoo, about hacking. keep them coming. what do

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that leaves just john taylor in jerome powell. betty: from bloomberg's global headquarters i am betty lou, where it is after 7:00 p.m. thursday. mario draghi switches gears, saying a short taper may be an option in 2018. amazon proving it can deliver on all fronts. sales topped estimates and stocked -- stocks jumping in extended trade. ♪ betty: it is risk on one day, risk off another. today it was risk on. some event in washington like the house passing a budget resolution, helping sentiment along. earnings have been a big driver in the markets, particularly today. i want to pull up a chart that shows you where we are in the earnings season. it is g #btv 2346. i love the title, "the beat goes on." about a quarter of s&p 500 companies have beaten earning estimates. they set a lower bar so beating them is not that big of a deal. it shows a trend. these earnings continue to rise. even if they taper off the rest of the season, they are tapering at a higher level, giving more credence to the fact we are still here at this -- at the hig

might that very specific someone winning the keys to this prime piece of real estate the favorite jerome powell the former investment banker republican is already a member of the fed's governing board markets would welcome his nomination believing he would continue with yellen fiscal policy gradually tightening the reins after a period of extremely loose monetary policy then a stanford economist john b. taylor his chances are slim though insiders believe he would raise interest rates too fast and don't forget current chair janet yellen in theory she could serve another term but it's the trunk will be looking to turn his back on any obama administration appointees meaning sometime this week she might well find herself on the receiving end of that well worn catch phrase you're fired. now for more analysis let's bring in our financial correspondent dan scored in new york against the guessing game surrounding the new fed chair has been going on for weeks is this normal when it comes to appointing a leading central banker. it's highly unusual what we're experiencing right now in the past pres

will interview janet yellen this thursday about the prospect of staying on a predicted poll shows jerome powell is the favorite with 32%. taylor is second with 21%, and once a front-runner, kevin warsh dropped behind janet yellen and gary cohn has a 6% chance. joining us now for discussion are john johnson, senior portfolio manager and joumanna bercetche. joumanna, taylor is widely seen as more hawkish what do you think will change at the fed >> look at the two contenders, jerome powell on one side and taylor on the other. john taylor is perceived to be more of a hawkish addition to the committee, he's renowned for his taylor based model of assessing where the right interest rates should be for the economy. that's a scribeprescribed appro, looking at employment, inflation that would suggest now a much higher rate than the current prevailing rate. he has said in the past that it is closer to 4%. the fed has it at 2.75 john taylor, yes, he makes sense in that he's an economist, he has some experience at dealing with the treasury on an advisory capacity but then he is also a lot more hawkis

stanford economist john taylor kamakura fed governor jerome powell. also former fed governor trumka denounced the decision as soon as this week. we are going to have many more highlights throughout the show this morning. lauren: peerless i'm testing a new delivery service that is you can say raising some eyebrows. cheryl: tracee carrasco joins us with more on that and some other headlines. train for first was the lockers. now amazon is introducing a service that will allow couriers to open your front door and put your package safely inside your home. the services and assign key and it relies on the new cloud can and compatible smart lock. the driver knocks first before knocking your door which triggers the camera to turn on and record the delivery. users have the option to watch it live or after the delivery is complete. when your doors locked again you get a notification on your phone. it's available starting november 1837 cities in the states on the screen. amazon doesn't recommend this for people who have pets. cheryl: obviously. what happens if yo

to your point, we have not really talked much -- and we were discussing this about said governor jeromeell being the next fed chair -- what are the chances of that happening, and what will that mean for continuity? jim: i think the market would view that as kind of yellen to point out. 2.0.llen to poin the market will be a little unsure how to price the. pthink they would view j owell as someone to be more continuous. a neutral, right, because there is definitely , as we wereings reporting in congress, campaigning against yellen, jerome powell could be the solution. jim: i think so. if you are the president, you want to put your own person in. particularly what the decision is going to be, not the easiest. shery: does that really matter for the markets? the bars and yellow, right now, the third quarter, because of the hurricane, they are still stabilizing around .2%. we willkely is it that see earnings growth that will contribute to the stock market rally without tax reform? jim: i don't think the market right now is counting on tax reform. if you look at baskets of low tax rate stocks

field is downthe to jerome powell and john taylor.s are doing well under her stewardship, however he also wants to make his mark on the fed. he says he will make a decision before the end of next week. kobe steel has found for more cases of fake data, a scandal that has/more than a third of its value. more than 500 customers are affected by falsified certifications on the strength and ability of metal products since 2007. the company said there are no reports of safety issues. >> i am deeply sorry how much impact this has caused our customers. we have not finished the investigation. announce when't our probe will end, but we will make our best effort to provide all possible information. >> global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. haidi: former philadelphia fed president says central bankers need to start developing new tools because quantitative easing has not been yielding the results it used to come a particular it comes to inflation. he spoke exclus