we are back with jerome schneider.terday, the fed chair talked about mobile developments and inflation pressures, but he put emphasis on global developments and trade risks. was that what he was talking about? possible for the global slowdown, or talking about something else? jerome: he is focusing on china, but there other trade aspects to be attuned to. we have to deal with the euro zone and other tariffs and other trade negotiations, so there is a trifecta of trade tensions they need to be resolved over the next few months. that is one aspect. the second aspect is the deterioration of growth in the euro zone. we see a more dovish posture coming from mario draghi and the ecb. they want to set the table to enabling lagarde to be more dovish. clearly, the weakness in growth numbers we're seeing from germany and the rest of the euro zone is weighing on monetary policy. what powell is pointing to they want to make sure that weakness in growth we're seeing abroad doesn't materialize, and supporting the inflation metrics,

the markets really want hear jerome powell promise more cuts down the road. going to do as much as it can to provide a buffer against the current trade war and the weakening global outlook. but it is very possible that jerome powell may not deliver on that promise. and it is notjust wall street screaming for more stimulus. the president tweeted... ..and compared jerome powell in another tweet to a golfer who can't putt. even ifjerome powell hints that he will cut interest rates, will it be enough to satisfyjittery financial markets and a president eyeing re—election. most observers think not, putting the world's top central banker in an no—win situation. michelle fleury, bbc news, new york. youtube's owner google says it has shut down 210 channels that were part of what it calls a "coordinated" attempt to post material about the protests in hong kong. the search giant linked its move to similar action taken by twitter and facebook earlier this week — but it stopped short of explicitly accusing china of a state—backed effort to spread misinformation. shara nji

all eyes will be on this man, jerome powell, chairman of the us federal reserve.u take centre stage can he come anxious financial markets? they want him to promise more cuts. they want to hear the fed is going to do as much as it can to provide a buffer against the trade foran provide a buffer against the trade for an awakening global outlook. it is possible thatjerome powell may not deliver on that promise. is possible thatjerome powell may not deliver on that promisem is possible thatjerome powell may not deliver on that promise. it is not deliver on that promise. it is not just wall street screaming for more stimulus. the president treated... even ifjerome powell hint that he will cut interest rates, be enough to satisfyjittery financial markets and a president eyeing an election. most observers think not putting the world central banker in an odd situation. in asia, central banks in india, thailand, the philippines, new zealand, they have all cut interest rates this month and yesterday indonesia lowered the cost for borrowing in the second time in two months.

with a fresh round of tariffs on american goods and after the feds jerome powell didn't respond the way trump wanted him to. some worries they can't drink away french pensioners are anxious over donald trump's threats to slap levies on their wine. a historic free trade deal between the e.u. and the bloc may go up in flames as pressure mounts on brazil over the wildfires raging in the amazon. this is the business i'm joined in berlin welcome now this may surprise you but china's earlier unveiling of a new round of retaliatory tariffs on about 75000000000 dollars worth of u.s. goods triggered an angry response from president donald trump he's an entire tariffs on chinese goods starting in september that's after an earlier tweet storm accusing china of costing the u.s. trillions of dollars he also said u.s. companies were quote here by order to immediately start looking for an alternative to china now just as a reminder the latest round of tariffs from beijing was a response to washington's last move to tax an additional $300000000000.00 worth of chinese goods taking effect on september 1s

negative reactions compared to what we saw from jerome powell.ollar strength has been a feature here with the market readjusting expectations, how much rate cuts you are going to get. we see some dollar strength coming through and we see weakness and some of these emerging markets. let show you what has been going on with treasuries. treasuries keep popping in and out. essentially, we are seeing movement in the curve. you mentioned some of the volatility around the press conference. big moves at the end of the day. a little movement 5-10 year horizon. commodities really slumping. we will talk to the shell ceo in a moment. iron ore down. some of the dollar effects, translation if we are not going to see more interest rate cuts, that does not ask that -- support the economy route -- globally. let's talk about the fed meeting with our market manager. thisould you cast decision? would you say this is the fed buckling to the pressure of president trump? sensible midcycle adjustment, extending the cycle for the u.s. economy? very hard forwas powell. i

overall, the markets gave jerome powell a thumbs down.t he talked about was midcycle easing though he contradicted it by saying i'm not talking about one rate cut. it was such a difficult messaging to get across come i of't know your view if he failed or not. he did givems like into the market in terms of easing in the first place, right? the u.s. economy is still on strong footing, growing more than 2% at a more than 2% pace. 2%, wages are growing at more than 3%, so why cut in the first place is the question. but if you are going to do it, you might as well go with gusto, and it was more of a yawn than an awe. nejra: look at the recent data, the fed should not be cutting in its position. you even had scott minor of guggenheim saying that before the meeting but had he gone bigger than 25 basis points, with that cause more concern? in terms of outlook, the market will always want more and reprice. i wonder if whether what we got yesterday was a little blip and reposition. we are seeing steepening today on the two's, tens after a flattenin

the president absolutely right about federal reserve chair, jerome powell. powell clearly does not know what he is doing or at least saying. when interest rate cut was announced today to pm the market remains steady. it sold off 36 minutes later when powell insisted that this was not a trend but an adjustment. here is his rather ignorant statement about interest rates at his press conference. >> to ensure against downside risk, to provide support to the economy, the factors are, where factors are pushing down on economic growth and to support inflation. i do think it will serve all of those goals but if you were thinking of it as essentially in the nature of a midcycle adjustment to policy. lou: a midcycle adjustment. investors did not want to hear that nonsense. his remarks came at 2:37 pm for the next 16 minutes, the dow sold off. 279 points. the nasdaq fell 155 points. s&p 500 fell 46. edward lawrence has more in the story tonight from the white house. >> yes as you know, the federal reserve rates a court reporter not everyone in the room it was voting wa

here are some tweets, jerome says a pet be adopted by someone, your family may be, tweets, jerome says really sad. john says all of our pets have been with us until the last days but however as we ourselves are getting older we no longer have our own and enjoy socialising with next door‘s cat. what you think about this, sue? it is part of a trend that plays to demographics, people getting older, living alone more often, the whole personalisation and humanisation of pets. we spend an awful lot of money, whether it is on premium food, accessories, hotels, grooming, and now care homes. i think it is slightly exploitative, do you not think? we know there are issues around elderly people and loneliness, for example. this feels like that is tapping into a growing market. i think adopting a pet, for someone who can no longer care for them, but to maintain that social contact would be a great thing if anyone wants to set up a website, it isa anyone wants to set up a website, it is a platform for doing that. we have been talking about interest rates and central banks and everyone looks for clar

there was confusion in jerome powell's comments afterwards. do you think that he is means to leave it one and done? >> i personally feel vindicated i have been arguing nine months, somewhat controversially that the fed should lower rates. i think the president agrees with me, the rate increases in september, the catastrophically bad decision by the fed by jerome powell and federal reserve board to raise rates in december which really hurt the economy. you remember what happened in the stock market. it fell by 2,000 points. they need to reverse. essentially what the fed did yesterday was reverse the december rate increase. that was a good solid start. they have to reverse the there is all this talk about interest rates. neil: why do they have to do that? >> because there is not enough dollar liquidity in the economy right now to sustain the three to 4% growth, when we put the economic program together for trump we believed you could get this economy growing at 3 to 4%. by the way, neil, if you go back to the summer of, last summer would were gr

jerome powell for whatever reason and the fed decided not to follow the markets. they decided they were smarter. i can't tell you how many little snowflakes are running around saying well the fed should be deciding where these markets go. >> i'll make a bold prediction that the fed eventually will follow the markets and maybe even get ahead of the market and so as i stated earlier there's a good chance we may see fed funds at 1.5% if that's where i believe, the 10 year treasury will be. >> john, let's face it. share odd powell really overestimates his ability to communicate with the markets and he's shown time after time he's not able to clearly community whereas chair yellen if he didn't quite have the answer right she'd pull out her script and start reading straight from what the staff prepared her for. powell has never done that and overestimated the capacity. lou: very quickly because it's a matter of great interest to all of our viewers and most of the nation. devaluation of the wan, this is having a broad global impact though. >> definitely hitting all of th

chairman jerome powell citing signs of a global slowdown.uropean central bank chief mario draghi made it clear it they are going the same way with markets expecting a rate cut in september along with more stimulus measures. today it's the turn of the bank of england. it's not expected to cut today, but markets are betting it will do so by december, amid rising risks of a no—deal brexit. it wasn't so long ago their next move was expected to be up. india's central bank was the first to cut rates, it has now done it three times this year. the reserve bank of australia has cut at each of its last two meetings, taking borrowing costs to a record low. and in the last few hours brazil's central bank has cut its interest rates — again to a record low. from the federal reserve in washington, here's michelle fleury. but the last time those inside this building cut interest rates, it was, as you pointed out, in the depths of the financial crisis. since then, america has enjoyed its longest period ever of uninterrupted growth. but the fed felt it was ne

powell had let him down jerome paul's delivery was in line with a dry and factual tone fed chairman have always displayed yet there was a hint of caution as he explained the committee's decision to come.

jerome powell deserves some shade, so to speak.december when he was tightening, he didn't see the numbers coming that showed he shouldn't be tightening. the trade stuff was starting to impact gdp back then in december. it obviously came out i guess in the fourth quarter gdp numbers and we saw like a slowdown to 2.1%. but he should have seen that and he didn't. so when you are the ceo of the economy which he kind of is chairman, he's the president and ceo in many ways, the fed chief, you screw up like that, you got so people are saying that you know, particularly given the fact the president has no confidence in the guy, he might be a good guy to go. but the other guy i think when you talk about leaving and to straighten out policy is peter navarro. here's why. let's be real clear here. everybody knows china's a bad actor. peter deserves credit for being an academic that called attention to china very early on. but the way to combat china most people in markets and most mainstream -- by the way, larry kudlow would say this. he won't

with a fresh round of tariffs on american goods and after the feds jerome powell didn't respond the way trump wanted him to. some worries they can't drink away french bent nerves are anxious over donald trump's threat to slap levies on their wine. a historic free trade deal between the e.u. and the worthless or blocking they go up in flames as pressure mounts on brazil over the wildfires of raging in the amazon. basin of the w. business i'm joined now in berlin welcome now this may surprise you but china's earlier unveiling of a new round of retaliatory tariffs on about $75000000000.00 worth of u.s. goods at an angry response from president donald trump he's an entire tariffs on chinese goods starting its. tambour that's after an earlier tweet storm accusing china of costing the us trillions of dollars he also said u.s. companies were quote here by order to immediately start looking for an alternative to china now just as a reminder the latest round of tariffs from beijing was a response to washington's last move to tax an additional $300000000000.00 worth of chinese goods taking effect

what sort of tone is jerome powell going to take?rs, he actually does that the path of monetary policy, or will he just tell a very fine line. on,: don't forget, later james bullard is talking. the interesting thing i think is yesterday we got this push back against cuts. the s&p continue to rally and is being led by bancshares -- bancshares. the economy is getting better and that interest market will not be as compressed. it will be good to see what the reaction is today. futures are positive. let's check on markets from around the world. joining us from our bloomberg partner in mumbai is niraj shah, and in london, annmarie hordern. give us a look at stocks in india after we got this big red headline. >> a much-needed release. yesterday was a big bank cut down. indian markets were down and out. session, a percent and a half. the nifty bank, the one in the red, down 5%. the finance ministry official has told bloomberg there could be a reconsideration on the tax and the surcharge levied on investors in the budget gone by. between a sa

how much of a turning point for the jerome powell's speech be? anette: really, all eyes are on the guidance that will be offered by jerome powell. in the most recent days, there has been an interpretation that he has perhaps been on the hawkish side with some members of the federal reserve not seeing the need immediately to cut further rates but there is this a normal's influence that fed and monetary policy has on markets and a lot of expectations built in. so i believe the markets will and ivery sensitively believe there will be a loss of focus on jackson hole overall. will powell pushback on market pricing? nannette: it is a very thin line he will be walking here. to be honest, the manufacturing sector worldwide, including in the united states, is undergoing a period of weakness. the more protracted and the uncertainty is, the deeper it will affect sentiment in the sector. and when this starts to have an ,ncident from the labor markets then the federal reserve has a good ground to consider monetary policy further easing. nejra: so what is your

but jerome powell seemed to not open the door wide open for that next 25 basis point cut. so although i do agree with you that offsets of large fed cuts can help to a certain extent offset some of the trade impact of tariffs, i question the fed's commitment to actually delivering on those cuts that are needed and i think that that's going to keep investors kind of half invested i think investors still remain invested in what they arn risk right now. >> bill we appreciate your time helping us figure out where we are and where we may go from here based on this week's turbulent events >>> here's what else is coming up on "the halftime report." >> it's not hip to be square today. a double downgrade for the stock. it's our call of the day. >>> get ready for another big week of earnings uber, disney, lift, shake shack and more. >>> and our investment committee is answering your questions. go to cnbc.com/halftime. "the halftime report" is back in two minutes. how do you gauge the greatness of an suv? is it to carry cargo... or to carry on a legacy? its show of strength... or its

to on wall street now again what is wall street expecting now with regard to future rate cuts or jerome paul as expected stood not to mention that we are going to see another interest rate cut anytime soon he said that he's going to he and his fellow. members of the federal reserve are going to close the observe the developments and then act accordingly but the bets on wall street are crystal clear investors here see 100 percent chance that we will see another rate cut at the next fed meeting mid september and chances for another rate cut in october stand more than 70 percent so wall street is convinced the world see those rate cuts and that actually the market a little bit before we've got the storm from a u.s. president donald trump. card to there with us on wall street thank you very much. and returning to the topic of tariffs at this time from the us on french wine wine is francaise 2nd biggest export the us is by far its biggest market and last year it important it 3600000000 dollars worth of the stuff washington has threatened to flop flop he would levy thought it a move which wou

tell me what fed chair jerome powell actually announced this week and its impact. guest: we had the first cut in interest rates in over 10 years, since the great recession. it is pretty momentous to see that rate cut happening. it is happening mainly because of the trade war. jerome powell at his press conference after the announcement said that this was mainly driven by trade tensions and by slower growth overseas. other parts of the world have caught a cold economically and we want to make sure the united states does not catch that cold. in terms of real people, i looked at houses last week. this is very fresh for me. you look up the mortgage rate, the cost to borrow money. what the federal reserve did is they took the rates down. it will be cheaper for companies and individuals to borrow money going forward. host: is this only affecting people who are wanting to buy a house and mortgage rates? does it affect any other area? guest: yes, a lot of different people. auto loans if you're looking for a car. if you're borrowing money to start a business. credit cardhol

fed chairman jerome powell didn't say the interest rate cut would be the only one but he did say the.

the chinese leader or jerome powell?s been pressuring the federal bank to do more to stimulate the economy. effect however was to rattle investors, worried about the deepening trade conflict with china and the damage it is doing to the global economy. i asked the bbc‘s chris buckler in washington whether or not mr trump can indeed order us companies to close their operations in china. ina in a series of furious tweets he attacked china and appeared to heighten the trade war and he ordered, that is the word he used, ordered, that is the word he used, ordered american companies with interests in china to look elsewhere to base their operations. and what sparked this is the plan of china to impose up to 10% tariffs on $75 billion worth of american goods. that is the latest strike in a bitter trade battle between the countries. the us had already announced plans to impose 10% tariffs on some $300 billion of chinese imports by the middle of december. and president trump hasjust announced that in response to china's decision h

jerome paul's delivery was in line with a dry and factual toland fed chairman have always displayed yet there was a hint of caution as he explained the committee's decision to cut the benchmark rate for the 1st time in over a decade for the federal funds it is intended to insure against downside risks from weak global growth and trade policy uncertainty to help offset the effects these factors are currently having on the economy and to promote a faster return of inflation to our symmetric 2 percent objective that trade policy uncertainty would be the result of u.s. president trumps ongoing fights with china the e.u. and even his north american neighbors any criticism of trump's policies might have been inappropriate for a fed chairman but trump himself had unrelentingly attacked the fed's policies demanding larger rate cuts support pledging to act as appropriate to sustain the expansion of the fed signaled possible future rate cuts for the wall street however did not immediately react as such action had been widely expected. and let's go now to our financial correspondent jose luis de h

we also have the speech by fed chairman jerome powell we'll bring it to you at 10:00 a.m.omorrow, the headlines from that as well. we can't -- there's no cameras allowed in the meeting then later on in the day we have mark carney, the governor of the bank of england. we have a whole sort of u.s. and international perspective about where interest rates are going. >> steve, it is karen. let me ask you, do you think we will come away from tomorrow, from powell and carney, with clarity? >> reporter: you know, that's a good question. i think the interest is no the reason i think the answer is no is because i don't think that the course of policy in the u.s. is very obvious. i was thinking back on other times that the fed has changed course, cut rates or hiked rates, and you had unanimous on the board because the case was easy to make we are running at trend here step back and tell yourself something. the federal reserve cut interest rates at record low unemployment that fact alone should be enough to say, you know what? these times are different. it is a new set of rules, and w

matt: what do you expect from jerome powell, this weekend?s he going to address -- jackson hole is always a place for great, important speeches. but this is a sensitive time for the fed, and they seem to have not a lot of agreement. been giveninly, he's some ammunition here by the people who spoke in the last 24 hours, talking up the economy and saying there's no need for dramatic interest rate cuts. he will probably try to address it in stages, keeping the door open for a rate cut in september, what the market is pricing for. he would not want to do too much to upset that. the key, where does he see it beyond september? he may take it as an opportunity to try to calm people down a little, and indicate he wouldn't mind a pause between september and the end of the year. that won't be easy. it is a fine lien to -- line to tread. but considering his colleagues aren't really seeing anything disastrous on the horizon, he probably wouldn't mind getting the market to come back a little from the idea of rates at every meeting. he doesn't want the mar

also expressing his disappointment after chairmanjerome expressing his disappointment after chairman jeromeled expressing his disappointment after chairmanjerome powell called the move a midcycle adjustment rather than a turning point in the central bank policy. the last time the us federal reserve cut interest rates, the american economy was in the depths of its worst recession since the 1930s and now it's enjoying its longest period of uninterrupted growth. nevertheless, the federal reserve thinks it's necessary to cut interest rates. in explaining what was seen interest rates. in explaining what was seen as a interest rates. in explaining what was seen as a precautionary interest rates. in explaining what was seen as a precautionary measure, said chairman jerome powell was seen as a precautionary measure, said chairmanjerome powell cited international concerns over domestic ones. it is intended to ensure against downside in risks from week growth from trade policy and offsetting the effects it's having on the economy. after the announcement, donald trump expressed his ongoing displeasure

tomorrow, investors will be looking closely at what jerome powell has to say.t that when the fed last cut interest rates in july, he referred to that cut as a midcycle adjustment. iw, if you look at the data, think actually he will probably stick to that approach. we will have a very measured reduction in interest rates. i would be very surprised if you get a clear statement from powell tomorrow guiding us to more aggressive rate cuts. i think there is scope for market disappointment tomorrow. matt: how disappointed will the markets be? at what point do you think the markets begin to push jerome powell to make the moves it wants? bob: if you look at the futures markets, they are basically saying or discounting that the fed funds rate will be cut on average 65 basis points between now and year-end. to three means is two cuts. our view is that there will be a cut of 25 basis points in september. there may well be another cut of 25 basis points later in the year, possibly the december meeting. data,k given the activity the service sector data, the inflation number

jerome powell for whatever reason decide not to follow the markets.nowflakes are running around saying the fed should be deciding where these markets go. >> i will maker the bold prediction the fed will follow the markets. i stated earlier, there is a good chance we may see fed funds finishing near 1.5%. that's where i believe the 10-year treasury will be. >> chairman powell has shown time after time he's not able to clearly communicate. chairman yellen when she didn't have the answer right. she would start reading from what the staff prepared her for. chairman powell doesn't do that. lou: it's a matter of great interest to all of our viewers and most of of the nation. devaluation of the yuan, this is a a global impact. >> it's hitting emerging market currencies. it will make matters worse for the emerging market countries that china is trying to recruit with its growth initiative. brazilian currency is off by 4.5% since late july. lou: thank you, sir. i think you have got this fed thing figured out, bill. we'll be right back. thanks so much, both of

jerome powell gave it a little more after boost. he seemed to be more dovish. he seemed to suggest he was ready to act if need be to step in front of the economy. then came the tweets. my goodness, all bets are off. all of sudden donald trump's reaction sent oil prices back down again. on the other hand, connell, look what it did to gold today. incredible day. safe haven buying like crazy in gold closed at highest level since 2013. it was the a real rush into the metal. gold is up this month, 7%. if you want to buy gold for christmas, this is the time to do it. put those things over the weekend, it will be very hairy. gold if you see more headlines that could explode this week. that looks like the safe haven play. oil on the other hand may be bad because they will worry about demand. connell: it will be interesting weekend. we'll talk about g7 coming up as well. phil, thank you. melissa: i like idea of gold for christmas. i like idea of gold for christmas. taking on china, federal reserve, president trump upping pressure on jerome powell amid escalation of trad

i would say that, but i'm not jerome powell. i respect his unique role that he has to play and the way he has to guide himself through all the land mines in washington, d.c. >> being he doesn't want to necessarily reciprocate and join this fight that the president seemsinitiating with him. that's what you're saying. >> yeah. again, i think he's very careful about saying that, you know, he's not getting involved with fiscal policy or trade policy. that's not his role. he sticks to monetary policy but again monetary policy can jcannot offset the concerns about the trade. that needs to be made clear. the president's reaction really to the decision was not as harsh as i expected. i expected him to go after powell and not be able to control his committee, have two dissents when you think of what trump said thus far about the meeting, it's pretty mild >> give it time. >> i was just going to say that. >> this could just be the beginning. shannon has a question for you >> sure. >> i think the challenge for economists now is we're seeing

. >> the president's tirade included attacks on federal reserve chairman jerome powell. he told bankers quote trade policy uncertainty seems to be playing a role in the global slowdown and in weak manufacturing and capital spending in the united states. while monetary policy is a powerful tool to work to support consumer spending, it cannot provide a settled rule book for international trade. he was barely done speaking when trump fired off this on twitter, quote, as usual, the fed did nothing. we have a very strong dollar and a very weak fed. who is our bigger enemy? jay powell or xi? during his campaign trump seemed to relish the idea of remaking america's trade agreements and talked about how good he would be at it. >> trade is so easy for me. it's so obvious what is happening when our companies are flocking out. we have to fix trade and bring jobs back to our country. >> tonight, "the new york times" reports the white house was not exactly prepared for how today unfolded, quote, mr. trump's tweets caught most of his advisors and staff by surprise and prompted alarm.

>> jerome is investigating.t even -- climbing, this is a serious investigation by the department of justice but we are going to have to see if he calls a grand jury bid we may not know that. it may leak it we may find out. but this is a very serious investigation by john durham and horowitz. >> sean: will people be held accountable and charge brush marks because they better be. they better be. because the american people are not going to put up with the two-tiered system of justice. >> sean: john solomon, will people be charged? >> i have a degree of confidence that that will happen and less of more evidence comes out. >> sean: so they only charged flynn, call me, but the other guys do the same thing and get away with a question mark >> you know, if -- it won't happen unless there is more transparency like this because if the terms corruption -- goat stew and give it up. we got to get the answer. great work tonight. sarah, thank you also paid senator graham and jan jim jordan, geraldo rivera, sebastian corbett,

trump was reading about which was the greater enemy, jerome powell or premier xi. it was really unbelievable. what are you hearing at jackson hole, what are people talking about? megan: a lot of people are talking about trade. i thought the message from jay powell's speech was that the fed does not set trade policy, and there is no precedent for how they should respond to it. they will do their best but they don't really have a framework for how to think about this. the strongest pushback we have seen from the fed in terms of trade. that being said, i don't even think jay powell's speech will make the front page of tomorrow's paper. it will be about trade. interestingly, the more important place to be right now is the g7 meeting, rather than jackson hole, although i'm not particularly optimistic about any action being agreed upon there. amanda: it is so interesting because we are worried about central banks at their limit in terms of their ability to help economies, so that the talk turns to fiscal. not a lot of physical capacity for governments around the world. d

goods have really sent the market plummeting the fed chairman jerome powell also did not help inspire confidence and esther's i they may have been looking for a stronger signal that the fed would not be raising interest rates been the fed chairman has been a scapegoat for the president there's division in the fed on the fed board about how to go forward to keep the economy afloat all of that causing powell to keep his cards close to his chest not give a lot of detail about monetary policy going forward and all that with the uncertainties in china just really spooked investors today kristen thank you very much indeed. brazil's president says he may send in the army to battle fires burning through the amazon forest but an unfolding disaster is already being labeled an international crisis that needs global action french president emanuel not chrome wants urgent talks at this weekend's g. 7 summit and he's been joined by germany's angela merkel and the u.k.'s boris johnson we begin our coverage with the latest from highly jocasta. dramatic video captures the fury of the flames eating awa

host: marble town, georgia, jerome is next. caller: good morning. am an individual that has atnd myself -- if you look the first part that was ratified regulated well militia is across the nation. we have a national guard that to stope prepared outside influences. i have carried a knife or a gun since i was 15 years old. i have been blessed throughout --life but host: in this segment we are talking about white supremacy in the u.s. are you concerned about militias being thrown into that category? caller: i am a black male. 69 years old. -- detroit,o carry michigan is where i am from and they talk about chicago. i lived in dearborn, michigan and the suburbs and i always concern myself of being accosted by white officers, especially. i am 69 years old. host: that is jerome out of georgia. katie is next out of virginia. good morning. caller: good morning. host: go ahead. petitioning -- i think all lives matter. i think there should be a psychiatry evaluation for anyone who wants a legal pathway to gun ownership. in podunkgangs here ,irginia and central

his name is jerome powell joining me now to talk about what is going on is jim acosta.ike the president is just trying to basically put all the blame on the chairman of the fed for a lot of things and this is a person he himself selected and praised. >> reporter: that's right. it seems like there is a mild freakout inside the white house over what happened on wall street today. the dow going down some 800 points and the president and his economic advisors were blaming the chairman of the federal reserve jerome powell, the president at one point tweeting earlier today jerome powell was clueless. the president talked about this inverted yield curve where the yields for the ten-year treasury bonds were dipping below those for the two-year treasury bonds. that has been a reliable predictor of recessions going back decades. president even tweeted about that calling that phenomenon crazy but they are certainly concerned inside the president's team and we're told by administration officials that he is frustrated with the team because they have not been able to turn the market

and the action of federal reserve chairman jerome powell. president trump: we put a lot of tariffs on china today. they put a lot on us. billion -- we50 are up to $550 billion. we want that stopped. ok? we will see what happens. it depends if they want to do that. they want to have talks. i'm always open to talks. reporter: [inaudible] pres. trump: in 1977, we had the rights emergency act. have the absolute right. 1977 -- i have the absolute right. 1977. check it out. we are taking in thousands of billions of dollars. china's manipulating their currency. people don't understand that yet. at the same time, china had the worst year probably anywhere from 30 to 50 years. they want to make a deal. happy with jay powell. i don't think he is much of a chessplayer. that's what i have, what can i tell you? he is not much of a chessplayer. i am going to say prime minister ali -- prime minister albee. he is a great friend of mine. reporter: [inaudible] pres. trump: we are going to see what happens. also a goodon is friend of mine. we will see what hap