jerome schneider with us.ge crew that say 2020 recession because powell took his bet and analysis well into 2020? jerome: it comes down to a growth story and he did a good job of emphasizing that trajectory in terms of growth projection and inflationary expectations. pushing out the growth trajectory is what the fed will want to continue to do. ultimately, they will do anything to ease and stabilize financial conditions. when you think about it, ultimately the fed -- jerome powell gave us all a gift card. you give gift cards because you do not know what to give people, so a gift card gives you an opportunity in the future to buy something you want. we created a smooth, low volatility environment but we have to be aware of the risks percolating, credit, pricing of equities. we cannot be remiss to recognize this is a point in the economic cycle where it is more prudent to have -- towards fixed income. francine: i wish we had more time to discuss gift card. from the shareholder activist of barclays that he expect

melissa: fed chairman jerome powell sees no strong case for a rate cut or cuts.ow ending the day down 165 points, snapping a three-day winning streak. i'm melissa francis. a lot going on. connell: not only here but venezuela. i'm connell mcshane. welcome to the "after the bell." we'll keep an eye on that. the s&p 500 was fighting to close in record territory, closing lower to the downside. tech-heavy nasdaq extending losses into the close second day in a row. down 46 points. down on all the big market movers and fed and everything

thank you for keeping an eye on jerome powell's speech for us.loomberg subscribers can continue to watch powell go inng if you go to live your terminals. china says they will step up after president trump blacklisted technologies. jim hackett accused -- zhang ming accused washington of blackmail. stephen engle has the details. nothing,ill not do what will they do? phen: the chinese have been responseted in their to trade were tensions. when huawei starts coming into the picture, the commentary of the chinese gets a bit more the separatists -- vicious. this is where we are right now. we are getting comments as you rightly said from the chinese ambassador to the european union , zhang ming. wrong behavior. he is referring to president trump's recent blacklisting of huawei. he says this is wrong behavior and there will be a necessary response. businessights and interests are being undermined. he says it will not sit idly by. he says the u.s. government is trying to bring down huawei through administrative means. paul, you said it right, he used the

thank you, jerome. >> all right. >> they look a little nervous, jerome.me a little bit or buy them dinner first. >> you go to them. they will think you're like a vet, and they don't really like that. >> they don't like the vet. nobody likes doctors. all right. is there any trick to it? this is on the list of things i've ever done. he's going to kick me? okay. >> the main movement is to close on the top and squeeze the bottom. >> got it. sorry, buddy. i mean aside from the flies and some hair, this milk is healthy otherwise. >> yes, definitely. >> it will get filtered after and everything. >> chances are the last piece of cheese you ate was not made so simply. back home, what we eat is more processed. our milk is pasteurized, basically boiled to eliminate all bacteria. it's supposed to prevent us from getting sick, but it's also killing one of the very things that could be making italians so healthy. inside all of our guts is a whole community of bacteria. it's called the micro biome. best estimates are that we have up to five pounds of living, breathing o

for going after jerome powell who has his own hand-picked. guest:guest: chair i had gone after him too. that you concern was would try to force the fed to keep interest rates where they are. outt: there was a concern of the gate that i was too tied to donald trump. let me be clear. i believe the fed should be independent of politics and partisanship. we do not want the fed tweaking interest rates based on the election cycle. that was analytic -- that was a legitimate complaint. , ifefense against that anyone reads my book, they know there are many things -- i agree with donald trump. there are many times i have disagreed with donald trump. if i had been at the fed, my duty would have been to try to make sure the fed was providing stable prices. it happens to be that we both have reached the same conclusion, that chairman powell and the fed had beta mistake -- had made a mistake and hurt the economy. what happened was, in december, the fed made what was a catastrophically bad decision to raise interest rates. januaryhad to admit in it had made

what did they say that might give a hint of what jerome powell might say later on? getting more into the weeds of monetary policy. they are holding a series of events this year. you can see the vice president of the federal reserve speaking at the new york fed today. thatlked about the fact full employment, the level where we have to worry about inflation because unemployment is too low may be 3.6%. in other words, you don't have to worry about hiking rates because inflation is low and falling. john williams, the number three among this group, said he has changed his views on how low unemployment can go. listen to what he said. >> this is an economy that can operate at 3.6 percent unemployment without creating inflation. that's good. in a's not too surprising, way, what they are saying. unemployment was off the charts during the great recession. .t's now down to 3.6% that could be the full employment level. meanwhile, wages have risen to percent year-over-year. they have not risen nearly as much as unemployment has fallen. key inflation the measures. the target is t

here's the thing, the president put jerome powell in. there was no particular need to replace the existing -- the chairman of the federal reserve but he put jerome powell in. powell did not seem to be doing his bidding. so he had two nominees to the federal reserve board and jerome powell a sayiis saying there's reason to be lowering interest rates at the moment. the president loses but maybe the economy wins. >> correct. i think in the midst of all of this stuff going on, the mueller report and the attorney general and all those controversy, this was really a brazen, almost unprecedented play by the president to strong arm the fed. so you had the triple whammy of, first, the president getting up and publicly harranguing the fed chair, which was totally inappropriate interference with the independent fed while smu y simultaneously nominated two people, herman cain and steve moore, who have no experience on monetary policy or inflation that normally would be -- >> putting aside, it was a power play that failed but the president still has

it was a relatively quiet day on wall stree today until federal reserve chair jerome powell dashed any hopes of an interest rate cut. at least that's how the market seems to have interpreted his comments on inflation during his news conference today. during their two-y meeting, central bank policymakers decided to keep rates unchanged and that was not a surprise, but speculation about the fu sent treasury yields higher and stocks lower. the dow industrials fell 162 points about the low w session to 26,430. the nasdaq was down 45 and the s&p was down 22. in washington, steve liesman has more on what the fed >> fed chairman jerome powell tamped down expectations, saying the drop in core inflation which was food and energy and less of a concern, and it was likely to be transitory. >> the cmittee would be concerned if the inflation were running consistently above and below 2% and we do see good reasons to think that some or all of the unexpected decrease may wind up being transient. if we did see a persistent inflation running persistently below then that is something the commitould be con

stocks drop after fed chair jerome powell dampens the prospect of a rate cut. >> the committee wouldncerned if inflation would be running persistently above or below 2% we see good reasons to think some or all of the unexpected decrease may wind up being transien transient. >> we've got some fresh uk construction pmi data out in the last moment. it's just come in at 50.5. that is the highest since january. expectation of 50.3. and again the march number of 49.7, looking like the british construction sector is returning to growth thanks in part to pick up in house building although it looks like it's a little less certain due to a sharp fall in new orders you can see the pound strengthening against the dollar by more than one-tenth of 1% relatively positive developments there in the uk construction sector as part of an indication of the british economy's health and that the bank of england today is widely expected to keep all rates on hold. they will release its latest inflation report and minutes, first rate decision since brexit was postponed until october. my colleague joins me now

one cnn reporter trying to get jerome powell to bash him.rump fed pick stephen moore, more proof that the fed has gotten too politicized. >> the campaign over the last three or four weeks was really too tough for me and my family. i switched to liberty mutual, because they let me customize my insurance. and as a fitness junkie, i customize everything, like my bike, and my calves. liberty mutual customizes your car insurance, so you only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ 2,000 fence posts. 900 acres. 48 bales. all before lunch, which we caught last saturday. we earn our scars. we wear our work ethic. we work until the work's done. and when it is, a few hours of shuteye to rest up for tomorrow, the day we'll finally get something done. ( ♪ ) my dbut now, i take used tometamucil every day.sh the day we'll finally get something done. it traps and removes the waste that weighs me down, so i feel lighter. try metamucil, and begin to feel what lighter feels like. a cockroach can survive heresubmerged ttle guy. underwate

fed chairman jerome powell says the it will be around 3 1/2 trillion dollars. federal reserve lowered rate it pays for bank reserves. that is done to keep the target federal funds rate within the range of 2.25 and 2.50% t was in upper range so they lowered that. this statement was unanimous, charles. wait and see. still the word of the day. patience for the federal reserve. charles: edward, thank you very much to appreciate it. here to help break it down, former fed advisor danielle dimartino booth, lindsey piegza, hal lambert joins us as well as money map press their chief technical strategist dr barton. lindsey, let me start with you, so far anything you heard jumping out at you? >> statement was pretty much as expected. the rate remains unchanged. justifying their position along the sideline. they maintained that relatively optimistic view of the economy. what is really of importance as we watch the press conference. we'll look for the chairman's assessment of this seemingly solid growth against the backdrop of this disinflationary environment and what that

i do think, you know, jerome powell should really think about whether he's up to this job. i mean, we're talking about trillions of dollars of losses because of a boneheaded play by the fed. look, i think powell has been incompetent so far. if the fed raises interest rates tomorrow, they should all be fired for economic malpractice. >> ooh! >> why have you been so critical of chairman powell. >> so, by the way, did you -- it's so interesting to look at ose clips, because did you notice what the dow jones was at after they, you know, raised ?hose interest rat 21,800. now it's at, you know, 26,000. and i've been vindicated by this. margaret, it's an important point. this was a big boneaded play. and the reason i've been vindicated is -- three weeks later, as you know, the fed hadt to ahat it had made a mistake, and it doesn't do that very often. r and it begersing course, and ever since then, you know, we've had a boom in the economy. look, i do think my rhetoric wai overcharged, bhink, in terms of what i was saying, i think most people would agree i was righ >> well, and the

. >> david solomon praised jerome owell and that conversation.ing up, talking monetary policy with the cleveland fed president. plus more from the milken conference. there are problems the u.s. still needs to fix. ♪ >> the key is how well we deploy our resources. so with xfinity mobile i can customize each line for each family member? yup. and since it comes with your internet, you can switch wireless carriers, and save hundreds of dollars a year. are you pullin' my leg? nope. you sure you're not pullin' my leg? i think it's your dog. oh it's him. good call. get the data options you need and still save hundreds of dollars... do you guys sell other dogs? now that's simple, easy, awesome. customize each line by paying for data by the gig or get unlimited. and now get $100 back when you buy a new lg. click, call, or visit a store today. ♪ welcome back to "bloomberg best." let's revisit more of our conversations from the 2019 milken institute global conference, starting with jason kelly's interview with the blackstone chairman and ceo. ♪ >> what is y

assistant referee who intervened after a seemingly innocuous passage of play spotting a handful from jerome bowen saying. the strike has shown how tough julie dispatched the spot kick but then he went from zero to zero first picking up a yellow card for this shot on the keeper and then getting books again just three minutes later what seemed an accidental swipe at us were commish hof decision that abruptly and kind of his comeback. frankly i believe then came on the buy in to school his first of the year to seal a three one win. a lucky deflection taking his boosting your gold tally to eighty five experience paying off in a tight title race. benefit a given if you want to win titles you need to show it and not just want to say easy but also when the going gets tough in view and survive we win two games where champion the such and we don't have to worry about the others that are small. byron's fate is now firmly in their own hands. now bines win means dog me needed three points and braman if they were to have any chance of snatching the title away from munich now it wouldn't be easy the brem

welcome to the new jerome x. you tube channel. a good line of stories. with exclusive insights. and a must see concerning clarkson's culture team you're a. place to be for curious minds. do it yourself networkers. so subscribe don't miss out. eat some more good 5 keys to safer food. keep clean to prevent contamination. braun's cook foods to avoid cross contamination. kooks serve to kill microorganisms. keep food safe temperatures. to prevent bacterial growth. use safe water and safe well materials to avoid content. producers are the ones primarily responsible for the safety of the food. but you can protect yourself and your family from the season home pipeline the 5 keys to sea for food use that you also have a role to play you. can bet that the. robot or the special counsel who investigated russian interference in america's 2016 election has reiterated his investigation did not exonerate the president donald trump said charging the president with a crime was not an option on the justice department policy he also said russian agents made systematic and concerted efforts to inter

cindy, jennifer, jerome, thank you very much. let's move on, we are now going to talk about...tate legislative sessions draw to a close in much of the country, experts say around 30 abortion laws have been passed. in april, indiana brought in a near total ban on the most common type of second—trimester abortion. then ohio passed a bill banning abortion in the very early weeks of pregnancy. and just this week, in alabama, a bill was signed off effectively banning terminations altogether. louisana and missouri are moving ahead with similar legislation. so why is this happening, and what will the impact be on women in america? let's speak now to shannon dingle, who fell pregnant when she was raped as a 12—year—old. shannon's in north carolina, where a federal court earlier this year struck down the state's ban on abortions after the 20th week of pregnancy. that bill is now stalled. she's waived her right to anonymity to speak out. welcome, shannon, thank you very much forjoining us, tell us why it is that you want to speak out. i'm sorry, could you repeat that? why have you decide

jerome powell responded by saying that the fed was a nonpolitical institution that didn't think aboutl considerations. uk defence secretary gavin williamson has been sacked following an enquiry into a leak from a top level national security council meeting. the enquiry followed reports over a plan to allow huawei limited access to help build the uk's new 5g network. mr williamson, who has been defence secretary since 2017, denies leaking information. and a big pay—out after a chip manufacturer announced it would receive at least 11.5 billion us dollars from apple, as the two companies settled their long running dispute. the duo had been arguing for yea rs over dispute. the duo had been arguing for years over qualcomm's patent licensing fee. they thrashed out an agreement which included a new six—year licensing agreement for qualcomm to supply apple with modern ships. let's have a quick look at the asian pacific market stop of course, due to the golden week holiday, japan remains closed and they will rio 0pen next monday. the all 0rdinaries is down 46 points, at 6420. all 0rdinaries is

he went to italy and the jerome where he became famous for teachings on paul's letters. pelagius held that the individual possessed a powerful capacity for achievements. pelagius believed individuals could achieve their own salvation. he said it was just a matter of individuals living up to the perfection of which we are all inherently capable. --e's how he put himself since perfection is possible for man, it is obligatory. since perfection is possible for man, it is obligatory. the key he said was will an effort. if individuals worked hard enough and deploy their talents wisely enough, then they could be perfect. this idea famously drew the ire of augusta, better known as sink that we, who responded humans are not achievement machines. we are fragile. we are fallible. we have weaknesses. we suffer need. and all of us stand deeply in need of god's grace. pelagius was not satisfied. he took his stand on the idf human treatment. individualsgave free choice and insisted that was more powerful than any limitation augustine had identified. augustine said nature was permanent.

assistant referee who intervened after a seemingly innocuous passage of play spotting a handful from jerome boa thing. strike has shown to us julie dispatched the spot kick but then he went from zero to zero first picking up a yellow card for this shove on the keeper and then getting books again just three minutes later what seemed an accidental swipe at us were commish harsh decision that abruptly ended kind of his comeback. frankly i believe then came on for by him to school his first of the year to seal a three one win a lucky deflection taking his bonus a goal tally to eighty five experience paying off in a tight title race. than it did to give in if you want to win titles you need to show it and not just want to say easy but also when the going gets tough business. brian's fate is now firmly in the room. and don't forget you can always get data news on the go just download our app from google play all from the app store and give you access to all the latest news from around the world as well as push notifications for any breaking news you can also use that interview app to send us your

assistant referee who intervened after a seemingly innocuous passage of play spotting a handful from jerome bowen saying. the strike has shown how tough julie dispatched the spot kick but then he went from zero to zero first picking up a yellow card for this shove on the keeper and then getting books again just three minutes later what seemed an accidental swipe at us were commish harsh decision that abruptly ended kind of his comeback. frankly i believe then came on the buy in to school his first of the year to seal a three one win a lucky deflection taking his bonus a good goal tally to eighty five experience paying off in a tight title race. in a typical minute if you want to win titles you need to show it and not just want to say easy but also when the going gets tough is a. buy and speight is now firmly in. it's. some breaking news just in at least five people have been injured after a passenger plane belonging to the russian national cat carrier aeroflot made an emergency landing at moscow sheremetyevo airport according to russian news agencies a fire broke out shortly after takeoff t

come to the new jerome x. new channel. goldmine of stood. with exclusive. and a must see concerning parts of the church in europe the 1st place to be curious minds . do it yourself networkers. so for subscribing and don't miss our. body. the u.s. has struggled for years with an epidemic of opioid drug addiction now landmark trials underway that could hold drug maker johnson and johnson partly responsible we'll give you the details. also on the show mergers and restructurings aren't so easy when you're talking about french jobs just ask g.e. which is looking to make cuts. and china's government has lifted hundreds of millions out of poverty so how does it get the rest we'll look at one story. welcome to your business i'm stephen beard sambolin good to have you with us. consumer products giant johnson and johnson has begun defending itself in a landmark u.s. trial that seeks to assign blame for the country's prescription painkiller epidemic the state of oklahoma accuses the firm of deceptively marketing opioid painkillers and understating their addictive pote

. >> that's the fed chair jerome powell. the labor market remains strong. the economy is good folks, the central bank has remained unmoved despite repeated attacks by the president, including the president's call to slash the rates by 1 percentage point. >> we don't think about other factors. we don't let them into our decision making. we don't discuss them. >> the trump administration formally declaring its opposition to the entire affordable care act calling it unconstitutional in a federal appeals court. if obamacare is struck down, 21 million americans could lose their health insurance. millions more could lose protections for preexisting seasons as well as required coverage for pregnancies, prescription drugs and mental health. >>> assistant attorney general joseph hunt acknowledges the administration previously argued that parts of the law could remain in effect. and the administration believes it could no longer defend the position. it claims rewriting the statute would interfere with the role of congress. arguments will be heard in july. >>> would y

assistant referee who intervened after a seemingly innocuous passage of play spotting a handful from jerome boa saying. the strike has shown a tough julie dispatch to spot him but then he went from zero to zero first picking up a yellow card for this shot on the keeper and then getting books again just three minutes later for what seemed an accidental swipe at us were commish harsh decision that abruptly ended kind of his comeback. frankly i believe then came on for by him to school his first of the year to seal a three one win a lucky deflection taking his bonus a goal tally to eighty five experience paying off in a tight title race. benefiting even if you want to win titles you need to show it and not just want to say easy but also when the going gets tough is a. buy and speight is now firmly in their own hands. and one of behind me an extra piss anybody has officially announced that he would be leaving the club the thirty six year old former french international has a trap season. for the team and as we just heard on saturday he scored a goal in binds three to one victory over the last p

the task of finding out what happened to people like jerome we will land here at the office on missing persons or m.p. it's a new commission being set up by the current administration to independently investigate the disappeared the chairman. understand some people are skeptical it is extremely challenging because there have been many institutions many commissions established in the past to address the issue of the missing and for the families feel that they have had no ounces we do not want to give people false promises or false hopes and we will be very clear that we try to be strived to establish itself we would try to find to help them to 5 ounces but that is going to take place building trust between state institutions and the people especially in the northeast has been no easy task human rights lawyers the bhajan occasional and in says the o.m. p could gain the public's confidence once they set up local offices but she also says some families are afraid. people may give testimony today but they have a fear that it will fall into the wrong hands so some families have said they may

assistant referee who intervened after a seemingly innocuous passage of play spotting a handful from jerome bowen saying. the strike has shown a tough julie dispatched to stop him but then he went from zero to zero first picking up a yellow card for this shove on the keeper and then getting books again just three minutes later for what seemed an accidental swipe at us were commish harsh decision that abruptly ended kind of his comeback. from the believe then came on for buy in to school his first of the year to seal a three one win a lucky deflection taking his been missing a goal tally to eighty five experience paying off in a tight title race. then a typical mean if you want to win titles you need to show it and not just want to say easy but also when the going gets tough isn't. violence fate is now firmly in their own hands. now binds binmen second is doing when he did victory in being one if they were to have any realistic chance of snatching the title away from munich and the game turned out to be a microcosm of their recent form great in pots an awful in on this as to points slipped a

that all fell apart when we heard from jerome powell. basically the market. we would get a cut. that did not end up being the case. that cut people off guard. the 10 year treasury recouped up to its levels. were athe major averages little lower. i want to see how things are shaping up for asian markets. sophie: we will be able to react to the fed update when we are back from the midweek break. teachers are hinting at a strike this thursday. the kiwi dollar is seeing losses marked by tuesday's disappointing jobs report. there has been a two-day decline. the worst of the property slump may have passed. we will get south korean inflation numbers. there are hints that slide -- slight gains for the index. korean exports fell in april, but by less than expected, which may see hopes of the trade rebound. chinese and japanese markets remain off-line for the rest of the week. and the earnings parade continues today with national australia bank. on the subject of national australia bank, we have breaking news there. the first half just crossing the bloomberg terminal now. we have a first

fed chairman jerome powell continues to emphasize patience and grappling with conflicting currents in.s. economy. on friday, michael mckee spoke with the cleveland fed president and got more insight into the central bank's outlook. >> i think our interest rate is the range ofe, in neutral, that is the place for it to be. it is calibrated to where the economy is and we will watch the data and assess conditions going forward. so i think we are in a really good spot in terms of our monetary policy, and yes, inflation is a bit soft, but labor markets are strong and we take a balanced approach and are in a good spot to wait and let the economy tell us how it is doing. michael: has your view of how you generate inflation or the dangers of low unemployment changed as time has gone on? loretta: i have over time lowered my star estimate, those are estimated and the longer we go on with the strength in the labor market, not generating as much inflation pressures as in the past, the more you recalibrate your estimate. but i would not say my process has changed. i still think inflation expectatio

mexican fighter has only had 4 weeks to prepare for the bout after being named as a replacement for jerome miller failed a drug tests and was denied a license re still believes he can be the 1st man to beat joshua. i think the heart that i. just leave the combinations that i my idea of. the fighters problems you know because of the speed so i think that's what we're going to do and. fans of nicky lauder had the chance to pay their final respects to the formula one race legend on wednesday hundreds of mourners attended his funeral in vienna the 70 year old austrian died last week the triple world champion will be laid to rest in a ferrari racing seats. 11 time champion rafa nadal has just taken to the court on day 4 of the french open in paris is up against german qualifier yeah make a maiden in the 2nd round the women's top seed has avoided a big upset in her 1st match she lost the 1st set 6 love to slovakia's and i care alina middle of aa was ranked number 90 in the world the japanese run 2 points from defeat in the 2nd but forced a tie break to level the match at once at all and her oppo

rosalind: david solomon praised jerome powell and the federal reserve in that conversation with erikzker. coming up, michael mckee talks monetary policy with the cleveland fed president. plus, more conversations from rosalind: the milken institute global conference, so the bells does not think capitalism is broken, but says there are problems the u.s. still needs to fix. >> we are going to make mistakes u.s. still needs to fix. >> we are going to make mistakes in this country. the key is how well we deploy our resources to address our mistakes. rosalind: this is bloomberg. alright boys, time for bed. listen to your mom, knuckleheads. hand em over. hand what over? video games, whatever you got. let's go. you can watch videos of people playing video games in the morning. is that everything? i can see who's online. i'm gonna sweep the sofa fort. well, look what i found. take control of your wifi with xfinity xfi. let's roll! now that's simple, easy, awesome. xfinity xfi gives you the speed, coverage and control you need. manage your wifi network from anywhere when you download the xfi a

investors to absorb this week from the minutes of the fln's team meeting to a speech by chairman jeromel, giving a mostly upbeat economic outlook. and several top central bank officials spoke directly to bloomberg television. federal reserve bank of st. louis president james bullard sat down in hong kong to discuss the fed's rate path in an exclusive conversation with bloomberg's rishaad salamat. >> rates are at a place in the u.s. right now. if anything, we are a little bit restricted, i would say, and i am concerned we might have slightly overdone it with the december rate hike. but i was pleased the committee pivoted. the current projections from the committee are for the policy rate to remain flat during 2019. we have very low inflation numbers, and low inflation expectations -- that is a bit concerning to me. ♪ ♪ taylor: you are watching "bloomberg best," i'm taylor riggs. plenty of that speak for investors to absorb this week from the minutes of the fln's team meeting to a speech by chairman jerome powell, giving a mostly upbeat economic outlook. and several top central bank offic

resisting president trump's call to cut rates, chairman jerome powell announced interest rates wouldwo-day federal reserve meeting. however, it was his on inflation that sent markets reeling. run us, willem, what he said. >> he said given it was lower than the target, isn't it time that the federal reserve consider a rate cut. yesterday he ruled it out. he said they were low because of transitory fax shuctions, becau lower closing prices and airf e airfar airfares. and another quote on instagram, it's going to hide the number of likes on a post as well as the number of views on a video. critics have said that is something that people look at far too much, they don't concentrate on the content itself and that can have a toks im -- toxic impact on social media. is isn't that what instagram's all about? if you don't have likes, what do you really have in life? how do you know whether people -- i'm not an instagram user but i gather that's a big thing. >> how do you know if people even like you if you don't have likes on instagram? >> i don't know. it's one of the big issues in my life.

jerome powell said the economy is good. john state in the u.s.s shipping of -- jobs day in the u.s. is shaping up relatively strong as well. amanda: we are to figure out what the fed is going to do. it remains the top story, president trump's fed pick stephen moore reportedly deciding to drop out of the process, according to a tweet by the president. it was just an hour ago that in an interview with bloomberg's moore said he was confident he would win support. stephen: it will be different three months from now when i go before the senate and the banking committee and the full senate. i am not too concerned about this. amanda: we have with us bloomberg economics -- a bloomberg economics reporter. the other thing moore said today is that he doesn't think president trump's call for a full-point reduction in interest rates is the right one. you wonder if this was voluntary withdrawal or not. >> i am not going to speculate on the timing of the decision, but it was clear he was not going to get confirmed. we did hear very clear signs of that happening

and i just wonder with jerome powell.transitory as opposed to -- which is different from the text. sometimes maybe we overemphasize that in terms of q&a and maybe he meant something much longer term rather than the current focus short-term. i think it's pretty clear for the fed, it's going to be very hard to tighten monetary policy. they would only tighten it into euphoria in terms of markets in the economy. in contrast, if inflation stays low and ther'e members's of the fed -- there's members of the fed on the preferred measure, the pce, personal consumption deflator, then if inflation stays low, we can have, when i was the last bond manager, i remember the mid-1990's, they were cutting rates despite a robust economy just because inflation was low. the market was right to price in that probability. matt: i think the probability rose in market pricing in terms of 64% by the end of the year. does that make sense to you, 64%? or would you say there's a higher chance of a cut. i would say it makes sense because the probabili

>> we know that jerome powell has had some troubles communicating.be he's gaining an appreciation for why chairman greenspan would speak in riddles rather than choosing to be transparent. but i think we can count on the fed to do the right thing. i do agree with chairman powell. there is no case for changing policy at this point. inflation below the target. inflation expectations still pretty low. i think if inflation did go lower or if there were some weakness, then i think we would see the fed shift. romaine: great to have you here. that is ed campbell. also want to thank bloomberg's rachel evans. that does it for the closing bell. " is up next. this is bloomberg. ♪ caroline: live from bloomberg's world headquarters in new york, i'm caroline hyde. here's a snapshot of how u.s. stocks closed today. nasdaq at a record high. s&p 500 just short of it. u.s. jobs data out. bolstering the news that the economy is rebounding. but not by enough to revive inflation. warren buffett announces he's ,utting money behind amazon giving investors plenty to ask him

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melissa: fed chairman jerome powell sees no strong case for a rate cut or cuts. the dow ending the day down 165 points, snapping a three-day winning streak. i'm melissa francis. a lot going on. connell: not only here but venezuela. i'm connell mcshane. welcome to the "after the bell." we'll keep an eye on that. the s&p 500 was fighting to close in record territory, closing lower to the downside. tech-heavy nasdaq extending losses into the close second day in a row. down 46 points. down on all the big market movers and fed and everything else. here is what is new at this hour. melissa: up rising in venezuela. day two of protests underway, as opposition leader juan guaido looking to ramp up pressure on nicolas maduro's regime. top national security officials just meeting at the white house as the trump administration is telling fox business that u.s. military action in the country is possible. you're looking at live pictures right now of what is going on. on capitol hill attorney general william barr grilled over the mueller report, defending himself against accusa