neil: no and you're right, jerome powell is their rock star hero.il: oh, i see what you did there, charlie, best reporter on the planet and we've got him here at fox business, charlie gasparino. we're going to give you an update on that brouhaha overall of these texas representatives camping out in washington d.c. forget about whose picking up their tab. when will they ever go back? after this. there's an america we build and one we explore. one that's been paved and one that's forever wild. but freedom means you don't have to choose just one adventure. you get both. introducing the wildly civilized all-new 3-row jeep grand cherokee l my retirement plan with voya keeps me moving forward. introducing the wildly civilized they guide me with achievable steps that give me confidence. this is my granddaughter...she's cute like her grandpa. voya doesn't just help me get to retirement... ...they're with me all the way through it. voya. be confident to and through retirement. ♪ ♪ when technology is easier to use... ♪ barriers don't stand a chance. ♪ that's

yesterday, jerome powell was on capitol hill to answer questions about the state of the u.s. economy. here is how it played out on the front page of the wall street journal. the headline, how the fed would raise rates if inflation risk persists, although the story noting he repeatedly emphasized that he still expects price pressures to ease later this year. here is an exchange between jerome powell and republican congressman. >> the prospect of raising inflation, i brought this up and air committee last july, last summer. in those meetings, you continue to suggest you are not ready to take action. yesterday, we received more data indicating the prices are continuing to rise. inflation is not an abstract concern. although the social media team put out information that a barbecue price went down last year, families are seeing rapid price increases with their own eyes. i know it's not your role to comment on fiscal policy but i'm very concerned with president biden's spending plan and its impact on inflation. last month, increase in consumer prices of five .4% with the largest j

jerome: that is a great question.u look at what we call neutralizing antibodies, the particular group of infection fighting proteins that prevent the virus from entering human cells, you can break the vaccines into three groups. there is a groupware neutralizing antibody levels are below a level of 100. there is another group between 100 and 500. and there is a group of over 1000. moderna and novavax are in the highest group. pfizer, johnson & johnson, and sinopharm, a chinese company, and astrazeneca, are in the middle group. and companies like sinovac's are in the lowest group. yet all of these vaccines have shown safety and efficacy in phase three trials. many have generated effectiveness data in the real world and are showing effectiveness rates in the 80% to 90% range, which is really actually remarkable when we consider the amount of death and hospitalization that has resulted from covid-19. these vaccines are safe and efficacious. we are increasingly able to show that these vaccines are also effective in real-w

dovishness coming out of jerome powell may be to do with that.e of the world's largest alternative management firms. they have seen their profits searching new highs in the pandemic. apollo global management says it has managed to achieve those gains despite a noisy year. ceo marc rowan spoke to jason kelly about the nature of the private equity business. >> it will continue to be a hugely important business, a massive source of profits for ourselves and clients. as important, a massive source of intellectual capital. it is not the same growth trajectory as some of the other businesses, nor should it be. at the end of the day, we serve clients. our job is to provide them excess return. excepting more capital in excess of the opportunities available just makes returns go down. private equity is like a farming business. you plant and you harvest. the business goes up, you sell things. for as much as people have said, and i have seen the press saying too much money chasing too few deals, i was joking, i've been hearing this for 36 years. when i arri

it's a dangerous game. >> they are and jerome powell did say we've never experienced trying to revive 20 trillion-dollar economy to the degree of monetary fiscal support so they have to the other way. it's a must by definition, the feds will be behind the curve before they recognize exactly what they should do with interest rates and everybody out there was the most sophisticated investors on wall street, people sitting around the kitchen table in the evening trying to figure out whether budget is going to be worth more or less six months from a has to keep their eye on jerome powell. charles: you can feel the tension, every sentiment, is there for sure. when we come back, going for broke, democrats pushed the largest spending increase in u.s. history look at what is on the table the latest $3.5 trillion bill and whether they can ramp it through congress despite the narrow majority. >> we are going to get this done. we are getting this done. ♪♪ this budget resolution will allow us to pass the most significant legislation to expand support help american families the new deal. this is g

so when jerome palo sitting there looking into his computer, so it's such a nerdy way, right. and he's like, oh yeah, this will absolutely fix all the problems. we don't need stable coins, we don't need bitcoin, we don't each other. once we have the, the us back digital know we need them because we don't trust the us back to anything right now because it's worthless, it's devalued it's abuse and it's corrupt and the point, the promise, the idea behind bitcoin in the beginning, behind all crypto currencies, was a promise to break 3 from a b r system that merely declares its value to the force of the us military to the force of law enforcement and the i r s. that's all the force that we have. and by the way, one other thing, he says there will be no interest in these other coins. once the us has their own digital currency, that's a lie. the only way there will be a lack of interest is when you decide to outlaw other currencies and then make them criminal. that would be the goal. because if you made it a competition issue, there is no competition here. choose bitcoin or us digita

handed over to my colleague liz claman, give them a little traction so far what were hearing from jerome powell. liz: indeed, the s&p charging higher, breaking news the dow has talked no fewer than 170 points off the lows of the session as jerome powell just said rate hikes are nowhere on his radar and inflation will go right back to the news conference live in washington, d.c. listen. >> again with a reasonably high percentage of the country vaccinated and the vaccine apparently be an effective, we are not experts on this but it seems like a good going in estimate would be that the effects will probably be less, there probably won't be significant lockdowns and things like that, those are not decisions for us or numbers that we would be an expert in. in terms of the channels, for this is kind of speculation. it is just that people, you can imagine school districts deciding to wait a month or two for the delta wave, i'm not saying this is going to happen but it's easy to imagine that, it's also easy to imagine that some people might say i'm just going to wait a couple of months before go

the consequences will affect us all. >> go to pbs.org/frontline for more on the current fed chair jeromeederal reserve. >> the us economy is in a good place, and we will continue to e our monetary policy tools to help keep it there. >> and a closer look at the growth of the stock market compared with people's incomes. connect with frontline on facebook, instagram, twitter and tiktok and stream anytime on the pbs app or pbs.org/frontne. >> narrator: as the united states withdraws from a twenty-year conflict... >> it's time to end america's longest war. >> narrator: iran is stepping in... and the taliban is gaining ground... >> correspondent najibullah quraishi investigates the consequences of leaving afghanistan. >> the most likely scenario is a civil war. there is no one to stop it anymore. >> "frontline" is made possible by contributions to your pbs station from viewers like you-- thank you. and by the corporation for public broadcasting. major support is provided by the ford foundation, working with visionaries on the front lines of social change worldwide. additional support is provid

jerome can sexy journal of international vaccine institute. we see them the the news the pro vision are my background. i was like, i was lucky you lucky, last year. so you'll have to, i lost his boss because i just got the problem. you just got to read. you will be on monday. my thought, my those up as well so you know, you're not my pull up. i got, you notice, i mean my, almost what i'm already whatever spits up i really just got a lot going on when i went up and i might really, he was, i just don't get it on to the video to get that done. one of this, but i'm like honestly this is what it is. i'm looking i didn't want to go to kind of all my just part of it. yes, it was a thing i was calling with you and your team, samantha katie. yeah. my thought aloud problem. you just gotta go welcome back. alex is in conversation with dr. jones ken of international vaccine institute on who is reading the deadly wraith in human science on the current divide. it does start to can what's going on with his violence and intentionally. corona virus is what god

on jerome powell restating what he said yesterday. i'm watching inflation. i don't think it will stick around a while. do you buy that? >> he is certainly beating that drum. i do and i don't, neil. he is pointing out the fact that used cars is probably something that is transitory. some of the supply chain challenges are probably transitory. i point to labor. this labor market is forcing companies large and small to pay up to attract labor. once you pay somebody more it is hard to get that toothpaste back in the tube and pay them less in the future. the labor component in the service economy i think will be here to stay. neil: normally takes a while to unwinded inflation. there is an argument, luke, it is already happening. lumber, for example, which popped up 40, 45%, is now given back all of those gains. and that seems to be the thinking behind some of these other unusual spikes. that though they will go the lumber route. what do you think? >> it is all about supply and demanned, right? when it comes to lumber, there is so much demand for housing and build

fed chair jerome powell.arkets will hang on every single word until questions get off track that will happen too. nevertheless there are two ding distinct camps of economists when it comes to duration of inflation. no one says it doesn't exist. it is unmistakable. it is really inflamed. many question what the fed should be doing if anything. joining me now stifel chief economist lindsey piegza, and former dallas fed advisor, quill intelligence ceo, danielle dimartino booth. the latest example of the insidious inflation and to it is taking, richmond fed, prices paid spiked through the roof. prices received climbed higher. danielle, they can't take all the costs and supply chain issues and force them on the public. they're trying. i know you're not in the trans power camp at all. when you see data like that it makes you feel even more that is if that is not the case what should the fed be doing today? >> that is a great question. i think there is a hawkish hint in the statement. i will be interested to see what

jerome powell on the hot side. this time speaking before the senate banking committee to say i see inflation but i don't see it around long. echoing his views that he's thinks it's transitory and not an issue to hike rates. but the price threats are real. the inflation is real, too. ceos, almost universally, sounding the alarm on the issue and according to an axios report acknowledging that this president right now doesn't see it the same way. that is the problem. you see it in the grocery store. you see it at the gas pump. but what can be done if it sticks around even a little while? we'll explore that first with edward lawrence at the white house. >> that's the big word of the day, "inflation." especially the senate banking committee. the democrats and the white house down playing the inflation that we're all seeing here. the federal reserve chairman acknowledging that the inflation is more than he expected. but he does say that it's going to settle back down. listen. >> we're experiencing a big uptick in inflati

. >> president biden and jerome powell say it's tame rare. matt egan is here with more on that. hopes they're right. do we know? >> poppy and jim, clearly there's no shortage of economic challenges facing america, and how president biden addresses them is really going to define his legacy. let's go through five of the top issues that biden needs to talk about tonight. first on that list, to your point, is inflation and the worker shortage. consumer prices rose in june at the fastest annual pace since 2008, everything from used cars and washing machines to bacon has become more expensive. now, the fed and the white house say this is temporary, but we don't know that yet. for now, it's certainly squeezing the budgets of families, especially low-income families. meanwhile, we have construction companies and restaurants and factories say they can't fill open jobs. this worker shortage is going to slow the recovery if it's not resolved soon. we also have the issue, of course, of the delta variant and vaccine hesitancy. the economy is booking right now. that's going to change if schoo

listen, jerome powell, if you're an amc ape, jerome powell is your daddy.shing this stuff and when you have 0% interest rates, and some of the other stuff you have, you're going to have market bubbles and people are going to, what happens is people reach out into the risk spectrum, they reach for yield, and for return, and that's what you get is stuff like this , so i'm not saying it's over, but damn, let me tell you something these stocks are not trading, again, amc is now heading back towards that session low, as the last few minutes of trading here, and all of the other ones are down, so this was always a buyer beware. listen i have traders that say it could keep going go backup to 40 particularly if you have short covering i have other traders saying this is going to 20 so i don't venture a guess here. back to you on that happy note. ashley: you have been warned as they say. yes, thanks charlie. charlie: jerome powell is your daddy. jerome powell is your todd beamer daddy. ashley: you don't hear that very often, thank you very much, charlie gasparino. i

. >> coming up wednesday on c-span, federal reserve chairman jerome powell testifies before the house financial services committee life at noon eastern. on c-span two, the senate is back at 10:00 a.m. to consider executive nominees for the equal employment commission. and on c-span3, the senate foreign relations committee holds a budget hearing with samantha power, head of the u.s. agency for international development, followed by a subcommittee hearing on voting rights at 2:30 p.m. eastern. >> c-spanshop.org is c-span's online store. there is a collection of c-span products. browser to see what is new. your purchase will support our nonprofit operations, and used to have a chance to order a congressional directory, with contact information for members of congress and debated administration -- and the biden administration. go to c-spanshop.org. >>

let's get your thoughts on what we heard from jerome powell.r that really strong or really high amount that economists anticipated. did you take any knew nuance away from what he heard from jer ole powell? area for me, this was a very consistent message to what we have heard really all the way through this year. this is the fed's -- determined to be patient. and willing to look at what is a very sizable spike in inflation as a temporary one. he is talking about the bar for the fed to move being based on inflation moving consistently above the fed targets. with inflation where it stands today, you have north of 5%. i think everyone agrees we have met the threshold. the question is about the system. where powell was talking yesterday about not enough genuine inflation in the system, it comes back to the composition of what is driving the inflation basket. i think there was something for everyone. you could look at the spike again in things like used cars and air first a and put those in the transitory basket but if you dig deeper, you can also se

jerome adams. and the debate over face coverings is back as some cities reimpose mask mandates. are they an affective tool against the new viral variant? we'll check in with former f.d.a. commissioner dr. scott gottlieb. plus... >> biden: we know our economic recovery hinges on getting the pandemic under control. >> dickerson: we'll talk with commerce secretary gina raimondo. and we'll hear from kansas mayor quinton lucas, whose city is grappling with both covid and crime. last year there were a record number of homicides in kansas city. this year is on track to be even worse. what can be done to stem the tide. finally, we'll get an eyeopening look at the chaotic last year of the trump presidency with carol leonnig and philip rucker. it is all ahead on "face the nation." ♪ >> dickerson: good morning and welcome to "face the nation." the highly contagious delta variant is driving the country into a fourth wave of the coronavirus pandemic. infections continue to surge, and with less than half the country fully vaccinated, public officials are urgently trying to convince the hesita

. >> coming up today on c-span, federal reserve chair jerome powell testifies before the house financial services committee live at noon eastern. on c-span2, the senate is back at 10:00 a.m. to consider negative -- executive nominations for the equal opportunity and the solicitor. on c-span3 the foreign committee holds a talk with samantha how -- power followed by a subcommittee talk on voting rights at 2:30 p.m. eastern. >> next, president biden delivers remarks on voting rights. he said the united states is facing "the most significant test of our democracy since the civil war." and accused of republicans of " election subversion." from the national constitution building a philadelphia, this is a little less than half an hour.

obviously, you know, he's also reappointing jerome powell, that's his plan. so he's not really doing much. nevertheless, this headline as well. rising food prices deepen the woes of world forest. food prices are up 40 percent from last may. this is hitting these poor countries. they, they catalyze a whole bunch of countries having civil unrest, social unrest at the moment, including south africa, cuba and haiti. lebanon is facing a great financial and economic crisis that has sent us currency into a tailspin and brought the country close to default. there, the rate of food price inflation stood at 226 percent and 12 month basis a may argentina rocketing prices, world bank high inflation night and nigeria they point out is also causing a strife and term and hunger. well, let me, let me make a very stark metaphor here, and hopefully the left will get in there. now, what's happening in germany? there's massive flooding. people done? yes. okay. they are the obvious solution to stop the flooding. ok, i don't think i'm speaking out of school there. i think that's a

. >> at a news conference on wednesday, federal reserve chair jerome powell announced the fed would hold its benchmark interest rate near zero and he answered questions about inflation, the labor market, and the impact of the pandemic on the economy.

jerome on d. w. in very time, happiness is a national go. its lay down in the constitution and even message the national happiness index. but how it is one of the poorest countries in the wealth, happiness. i am a lion kingdom on its way of happiness. in 45 minutes on a w, these places in europe are smashing all the records into a ball venture. is the treasure map for modern globetrotters discover some of europe's record breaking you too. and now also in book form the ah, the me this take skating to a whole know, let the cross over the board long. for example. we will show you more moves later in the so with that will come to a new addition of you.

federal reserve chair jerome powell held a news conference yesterday to discuss monetary policy and the. he announced they would hold its benchmark interest rate near zero. mr. powell also answered questions on rising inflation, the labor market and the impact of the pandemic on the u.s. economy. >> good afternoon. at the federal reserve we're strongly committed to achieving the monetary policy goals that congress has given us, maximum employment and price stability. today the federal open market committee kept interest rates near zero and maintained our asset purchases. these measures, along with our strong guidance on interest rates and our balance sheet will ensure that monetary policy will continue to support the economy until the recovery is comp

jerome can say, today, i know of international vaccine institute. we'll see them me. oh, i use the when i would chose the wrong one. all room just don't the rules yet to see out the thing because the kid an engagement was betrayal. when so many find themselves, well, the part we choose to look for common ground in the welcome back. alex is in conversation with dr to don't, can of international vaccine institute on who is reading the deadly rate in human science on the corner of either does dr. kim, what's going on with us? violet, intentionally corona virus is one to got it. almost us. send them ela via this is, you know, slow moving, slow to adapt. this one is quite different. these variance matching with surprising speed and off these variance, which is the one you've seen, which, what is you most of the imagining variance gives you the real cause for concern. and you know, it's, that's an interesting question because i used to, at my previous lab, used to do sequencing of h, i b variance now compared to h, i v current of ours variation is very small. if you imagine

jerome can sec today, i know of international vaccine institute. we'll see them you know, probably you know, my back on it. i was like i was one. okay. your trucking license, but you'll have a lost his boss because i just got to the bottom. you just got to be i'm on my cell . my don't put up as soon as i mentioned earlier. so i said, you know what it was you are not. so my pull up, i got your month almost. what did i'm already whatever set up already just got me. i mean it was a lot think we went up and i mean really here so i just don't get it until then it's fitted to chantelle. noticed that i'm one of this, but i'm like honestly this is what it is i'm looking to possibly go to kind of home . i just want that. yes. in the thing i was calling with you and your team, samantha katie. yeah. my thought a lot of problem. yes. gotta go welcome back. alex is in conversation with dr. jones ken of international vaccine institute on who is reading the deadly wraith in human science on the current divide. it does not can what's going on with his violence and

the jerome rover landed on the red planet. in ne, it's moved 585 meters so far, capturing these photos of a san june along the way. china is hoping jerome will spend 90 marche and days exploring and analyzing the surface. it's completed $68.00 of them so far the equivalent of $69.00 earth days. i just look at the main stories now and the 2020 olympic games have opened with fireworks and fun facts, but no fans. the event taking place is host nation japan battle the new wave of the corona virus pandemic. it was spectacular displays put on that. japan's national stadium though and tennis donnelly, a soccer let the olympic colon, the president of tokyo 2020, says she hopes the games will bring an atmosphere of peace. during the pandemic, and richardson has more from tokyo. but at least we now know why know me, i stuck his 1st tennis. much of these olympics was pushed back from saturday to sunday. the japanese stall, given the honor of lighting, the olympic coltrane, to get these tokyo games underway during the opening ceremony. we

the jerome rover landed on the red planet in may, moved 585 meters so far, capturing these photos of a san june along the way. china is hoping jerome will spend 90 motion, days exploring and analyzing the surface. so far it's completed, $68.00 of the equivalent of $69.00 earth tace. a walking robotic arm has been sent to the cosmo. it's only international space station or rocket carrying the state of the art gadget blasted off from the context on on wednesday. carrying out routing repairs in space is a tricky business. so european engineers attending the arm to help the russians with that maintenance. it's 7, rotational joints provide a larger range of motion. and for instance, a human on has you might expect one of its 1st jobs will be installing radiators. ah, a quick look at the stories making headlines this hour and the delay 2020 olympics and officially open against the backdrop of the pandemic. by fireworks and find fab, but no fans. the soul taking place this whole nation, japan battles a new wave of corona virus infections. there was spectacular displays of the countries nash

jerome can thank you j. i know of international vaccine institute. we'll see them having and found introducing and found to, to a family when a new mother is going through that process. there's certainly tremendous cause for great joy, but because it's an event that causes so many different changes. it's stressful at many levels. provision oh my god, i would have been under state i like obviously lucky you lucky last year. so you'll have to i lost his bus because i just got the new program. he just got a radio. we started the on monday. my cell, my daughter, put up as well. so it says, you know, but it was my pull up. i got, you know, just, i mean my, almost what i'm already whatever sped up i read me just go to me. i remember when we went up 30 he was i just didn't get time to respect the dentist visit to chantelle. but i'm one of the most over here. like obviously this because i'm looking to go to kind of all my just part of yes it was a thing i was calling with you and your team, samantha katie. yeah. my thought a lot problem. you're quite welcome

jerome adams joining us ahead. stay with us. ♪ ♪ veteran homeowners, this is the best time in history to turn your home equity into cash. because home values have climbed to all time highs. and so has your equity. turn it into cash now, while mortgage rates are near all time lows. the newday 100 va cash out loan lets you borrow up to 100% of your home's value. you could take out more than $50,000. use it to improve your home. pay off high rate debt. pay for big expenses. or put it in the bank for real peace of mind. now's the time to use your va home loan benefit to get cash before mortgage rates begin to rise. call now. oh! are you using liberty mutual's coverage customizer tool? so you only pay for what you need. sorry? limu, you're an animal! only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ team usa is ready for the olympic games... ...and so are mike and eddie! show me the olympics. they easily catch every single event with the award-winning xfinity voice remote. show me bmx racing! show me s

jerome adams is here with reaction. steve harrigan from the cdc and let's go to mark meredith reporting live from the white house where we don't have to shout questions to him. >> good morning. the president is defending the cdc's latest guidelines suggesting that millions of americans wear a mask again indoors even if already fully vaccinated against covid-19. the president says these new guidelines are necessary because of the surge in cases due to the variants of the virus still spreading. the president is blaming the rise in cases on unvaccinated americans. while each community will decide its own rules the white house knows it will face major pushback against the new guidelines. >> president biden: i know this is hard to hear. i know it's frustrating. i know it's exhausting to think we're still in this fight. and i know we hoped this would be a simple, straight forward line without problems or new challenges. but that isn't real life. >> what is the federal government doing now? reimbursing employers who give time

surgeon general jerome adams and other doctors testified on vaccine hesitancy. this is one hour and 40 minutes. chair clyburn: welcome, everybody. today, our select subcommittee is holding a hybrid hearing where some members will appear in person and others may appear remotely via zoom. since some are appearing i

jerome adams said once covids have received full approval from the fda, it could be easier to mandate vaccines, especially in the military and some businesses. all of this as the pandemic is quickly spiraling out of control once more. cases are continuing to rise in nearly every state. and while vaccinations are dragging with still less than 50% of the u.s. population fully vaccinated. now some cities are ordering new mask mandates to try to slow the spread. cnn's suzanne malveaux is in st. louis where a mask mandate goes into effect, in fact, tomorrow. but not everybody is embracing it? >> reporter: well, you can imagine it was just a little more than two months ago people were breathing a sigh of relief here in st. louis that they did not have to wear their masks. now all of that is changing tomorrow. this mask mandate will, in fact, go into effect tomorrow. and it covers st. louis as well, st. louis county. and what this requires is that folks will have to wear a mask indoors and public spaces as well as public transportation. everyone who is 5 years old and older. the vaccinated a

the market is doing for jerome powell all the heavy lifting. jonathan: ecb, coverage right here on tv and radio here at bloomberg. i thought it was interesting to see reporting of a delay to the return to the office. how do policymakers react? what is the reaction from consumers? tom: i do not know if they will wear masks on blue origin today. i thought the federal judge decision on indiana university -- this should have been at the top at every newspaper -- this is a federal judge that told graduates, get vaccinated or don't show up. jonathan: 830 eastern on radio and tv. what are you looking forward to as we get mr. bezos alongside his brother, 82-year-old, not a teenager going to space. tom: the author of space was so angry that everybody thought this was a lark. anytime you put anybody on top of liquid nitrogen and liquid hydrogen, bad things can happen. what is needed is the safe return of these four individuals. jonathan: you are taking this a lot more seriously. tom: i can bore everybody with a history of this, but what is needed is to u

the way jerome boy saying he never played the performer. he just played his football. stoic in cool. this self confidence brought him to the attention of german politician alexander gala. bullets saying took it a step further than as a mower, becoming the 1st black footballer to win a world cut with germany. he's the most recognizable black athlete in the country with countless endorsements, but even bow a chain is not immune to the backlash bean. bless me, racist comments by the deputy chief of the right. winkle tentative for germany party newspaper claims. alexander goldman said germans thought he was a good footballer, but didn't want him as a neighbor. i'm interested. i got him as a racist. there's a question and doesn't always. it's quite sad that things like this happen. you can't change it. that's. i hope things get better to have been a lot of good responses. unfortunately, me get the feeling okay. now accept me because they put me in and nothing. and then comes, you know, the specialist had chosen is do how want to good? good. but

eastern, federal reserve chair jerome powell will testify on monetary policy and the u.s. economy. ♪ >> peter osnos has published dozens of nonfiction books in his career. he has now written a memoir about his own life called, "an especially good view." the national book review says osno has written a books on many fronts. we talked with him about his time in vietnam and the soviet union among other things. >> reporter and editor and publisher peter osnos on book notes plus, listen wherever you get your podcasts. >> president biden met with a group of the nation's governors and mayors at the white house to discuss infrastructure. >> we will talk about infrastructure. president biden: i want to thank you all for being here to discuss initiative

we provided an 8% to 10% -- matt: we are getting breaking news that jerome powell has brought support. while we are talking, i thought we might bring you this breaking news. it looks like the fed share enjoys broad support for renomination among the top white house advisors. the decision as it made until later this year. not surprising, but something we should mention. she has done a great job of staving off any tantrum. when do you expect paper to start and rates to go up? it looks like it wants to wait until the end of 2022. paul: i would not predict a policy like that. for sure, i think there has been inflation in terms of making significant changes. having said that, as a think about our business, our business for ultimate benefit from a rising rate environment. having said that, we are operating quite effectively in this lower rate environment. everything in moderation would be my view. that would be my expectation and terms of going forward. -- in terms of going forward. amber: that is not an area you can control. rates are going to be what they are going to be. it seems like yo

nike co found a bill bauman personally made them for the canadian track and field olympian harry jerome and the 1900. 60 sneakers are expected to fetch a $1000000.00, also for sale. a pair of convers fast break sneakers, born by michael jordan during the $984.00 and big trunk. german rail company, georgia bon added a splash of color to its famously monochrome express train. the insur city express or i. c. e departed friday from both for munich, complete with rainbow lighting and a rainbow flag down its side. 7 sports figures, politicians and businesses have waived the rainbow flag more frequently and pathways a protest, anti gay and trans legislation in neighboring countries that you're up to date. i stay in business with the the show i told the issue is shaping the continent of africa. where gone men, what's making headlines and what's behind the streets to give you in the reports and insight all the trends. but my time to use next dw, ah, the news, you know, in german counsellor, we bring you uncle michael and you've never had before surprised yourself with what is what it was. who is

i'm sure you were listening to what michelle had to say there and jerome powell.the moment. i the fed and where they are at at the moment.— the fed and where they are at at the moment. i think they are in uuite at the moment. i think they are in quite a _ at the moment. i think they are in quite a tricky _ at the moment. i think they are in quite a tricky place _ at the moment. i think they are in quite a tricky place because l in quite a tricky place because as the republican senator pointed out for individuals, nearly five and a half % rise in inflation on the mind, that is huge and that will hurt you in the pocket, but yes, the federal reserve, six, 12, even 24 months out, so transitory to them could be 12 months, but an average person, they don't want to see month on month increases, so he's not doing very much to increase his popularity but i would see the financial markets have bought his narrative on transitory inflation, and we did not see huge increases, particularly in the bond market which is normally very sensitive to rising prices in the us, so they a

everything that jerome says matters.ond markets and economists have never been great forecasters of inflation. it's not that long ago since economists were talking about a prolonged slump in the world economy. at that time, commodities fell dramatically. it's that baselevel that inflation is being measured. in the u.s., it is running at 5.4%. that's a 13 year high. if you strip out, where jerome powell was leading, if you strip out the severe lines, the events, the new and used cars, things that are benefiting positively from us coming out of the pandemic, that's a very narrow group of assets and items to measure inflation on. strip those out, inflation is at 2.47% which is lower than the pre-pandemic level. dani: i wonder what you make of this argument that despite what areas are seeing an inflation of tech, it will have an impact on the consumer. part of the reason i bring this up is because if you look at inflation and adjusted disposable income, it is very low. it has cratered. this is what al arian is arguing. you h

the chair, jerome powell is easing investor fears about whether or not the fed will roll back the interest rate policy anytime soon. even in the face of rising inflation, he told congress prices are temporary. we will get jobless claims coming up at 8:30 eastern, and so far for morgan stanley, better earnings as well as better than expected from united health. netflix hiring a former facebook executive to run its video game business as it looks beyond streaming shows and movies. he spent the past three decades working at other tech companies. it will be discontinued on august 3rd. it does plan to use data and other insights it gains from fleets to build new products. i didn't know what fleets were. i never used it. >> i saw it but never used it. didn't do anything for me. there you go. >> held i don't and good-bye, fleets. >> thank you, bertha. >>> coming up, nearly $100 million now set to go to san francisco residents and it's all because of their trash. how you can cash in and make sure you get some of that money as your own. >>> going to enjoy more time outside in the south bay. our for

. ♪♪ >> federal reserve chair jerome powell appears before the house financial services committee totions about inflation, labor shortages and various sectors of the u.s. economy. this is three hours. >> the check is authorized to declare a recess of the committee at any time. as a reminder, i asked all members to keep themselves muted when not being recognized. the staff has been constructed except for a member is not being recognized and there is in it for background noise. members are reminded they may only participate in one proceeding at a time. if you are participating today, please keep your camera on.

then, federal reserve chair drumm powell testifies on -- jerome powell testifies on labor shortages. c-span is your unfiltered view of government. we are funded by these television companies and more, including media com. >> the world changed in an instant, but media com was ready. internet traffic soared and we never slowed down, schools and businesses went virtual and we powered a new reality. we are built to keep you ahead. >> media com support c-span is public service along with these other elephant providers giving you a front row seat to democracy. ♪ >> president biden and vice president harris talk about the first child tax credits provided under the american rescue plan. they will provide aid to working and middle-class families. this is about 15 minutes. [applause] pres. biden: i came to see the kids. look at those guys. vice pres. harris: look at this. good morning everyone, good morning. let us mark this day, thursday, july 15, 2021 as the date the american family got so much stronger. today, the expanded child tax credit is here. today, for families all over our country,

neil: it might be a power play for jerome powell. he knows a lot of stuff liz is speaking and you've been outlining but he wants to be reappointed at odds are pretty good that he will be but -- >> absolutely. it is sort of ludicrous because if you look at their own projections he has been wrong over and over again, they were projecting one.6% for 2021 in the middle of last year, they raised that by the end of the years one.8% but now it is double what they said. and north of 6% so by his own projection we know that he is wrong but he is that good ally of wall street, that good ally of the government, enabling the bad behavior and he's going to continue to do that for as long as they let him and don't rain in the fed. stuart: i want to thank you guys. you can see the dow is down 59 points, looks like a fairly soft week for the major averages but they are not far from record territory. we are monitoring that and what is going on in cuba. the big news in washington, what the president has to say about what is happening in cuba yesterday

neil: real quickly i want to pick your brains, guys, if you don't mind what will happen to jerome powell moving development either way. but let's say, luke, he is not reappointed, there is some headwinds even if he were, getting through the elizabeth warrens and some republicans not big fans of his policies, how would the market respond if he is not the guy? >> honestly i don't think it matters who is in the office or who is appointed neil, whether it is jerome powell or somebody else. i think the fed needs to raise rates in 2022. i don't think the markets, that 7, 8%, top to bottom, i don't think we'll get that full 12% correction we normally have, that could come from the hike in 2022 from interest rates. stocks don't like that in short term. stocks are inflation hedge in the long term. i really don't think it matters. i think that inflation is hot. we can't, undeniably hot. everyone sees it, right? the thing about inflation when prices rise they rarely ever drop after they rise. they only drop in a deflationary environment. right now there is so much demand. people want to get out. th

it was fed chair jerome powell, testifying at that hearing.ere's is a little more from that hearing and exchange with democratic congresswoman madeleine dean out of pennsylvania. [video clip] >> what are your thoughts, and how can i explain it to my constituents, around this level of ration in these smaller groups of goods and services? what should we be watching? a few could, in plain english, what is the doing in terms of this temporary or what might be called transitory inflation? >> well, so, we always have the issue and central banks generally have the issue of looking at price increases and asking whether they are really threatening inflation. by inflation, we mean year after year after year prices go up. if something is a one-time price increase, you do not react to it with monetary policy because the weight monetary policy works would be by the economy slowing down the recovery, therefore reducing inflationary pressures. so, we would not react to something that is likely to go away. so we have to look at this current situation where we

jerome powell said that inflation is inching higher than expected. they think it's transitory. if not, they'll have to take action on it. the president is pushing for $3 trillion more in spending. he says they will get it done. what about this inflation? a shocking jump comes in today. the price of everything from cars to clothes keeps ticking higher. individuals know this. they see it every day. the money has been pouring out of the treasury. checks to everybody. the first package was $2 trillion. the two that the president wants to have would push the near to nearly $6 trillion while the economy is heating up. senator schumer says that bill, the whole thing would be transformative for the united states. >> coming together on what will be the most profound change to help the middle class in america in generations. its scope is almost rooseveltian. >> it has it expanding medicare, child care. a lot of money for climate change. art lapper, former economic adviser to president trump and president reagan. gentlemen, great to have you here with us today. art, let me start with you.

stocks were missed yesterday after the fed chief jerome powell said that inflation is high right now,s get worked out. powell testifies again today. the dow closed up 44, nasdaq fell slightly. the latest jobless numbers at 8:30, claims expected to fall to the lowest level since march 2020. >>> the pay gap between ceos and their employees grew last year despite the pandemic. average ceo of an s&p 500 company you were earned 299 times the average worker's salary in 2020. the highest paid ceo was chad richardson of paycom and also at the top of the list ceos for gone electric, hilton, t mobile, nike, microsoft, netflix. many top executives said that they would take a pay cut or forego their salaries all together at the start of the pandemic, but giving up pay might not mean losses. pay is only a fraction of their total compensation. often it is tied up in bonuses, stock bonuses for how the company performs, how the company performs and stock performs is often how these ceos are compensated. >>> the bucks rallied past the suns in a nail biter to even out the nba finals. >> and there is no

more to come on this front. >> jerome adams is calling for the cdc to reverse that guidance. if that comes up. he's not testifying today. todd: speaking of social media, on friday president biden said facebook is killing people for allowing this information on covid to spread on social media, facebook did not like that, they released a statement defending their platform saying we are not killing people, the biden administration and private conversation has come forward saying we are doing a great job of taking misinformation down. yesterday president biden walked back that claim, listen to his new statement. >> facebook isn't killing people, the people giving misinformation, anyone listening to it is getting hurt by it, it is that information. my hope is facebook instead of taking it personally that i'm saying facebook is killing people, that they would do something about the misinformation, the outrageous misinformation about the vaccine. that is what i meant. >> facebook isn't killing people, 12 people spreading misinformation on social media are. a great tactic for the bid