to no jerome was to love him. jerome was a big called black men that didn't mind getting into anybody's face. jerome was known for pushing tables across the room, okay? he had this not squeaky voice but it was a unique voice that when he was screaming he was not as loud as i am. but he had a presence about him and i talk all the time about that and i think that was the life path. okay so we replace that sign and that sign is the sign that is now displayed in the smithsonian which is an honor and privilege. i'm going to tell a little bit about myself. i was not welcoming to releasing their history because i felt like that was our history but nancy and simone, something happened. you have it and i'm entrusting it to you all to preserve the history and you guys are doing an awesome job with that. it came out that i think it was her teach for america, people came down for teach for america and they put the sign on facebook. as a result of that i think it did two or three years to find out exactly who did it and why it

and jerome powell with jerome, how they know what they're getting. venezuela's ruling socialist party has claimed victory in regional elections. president nicolas medulla party winning 20 of the 23 state governorships, turn out was just over 40 percent. one of the lowest in the country's history opposition. biggest say the result is a blow to their 1st campaign after a 4 year boy called that i saw bo has more from caracas. it's a major setback at the interesting to know that the opposition has gone through the elections in the past, but in a way the they decided to participate in the elections because they're frustrated by the failure of us sanctions, who we moved nicola from office. they were also involved and by the presence of, of, of servers from the european union in the country. they have been to go to several parts on the country. people talk tobar. so they were expecting that control on the ground would help them achieve their object. however, think they slammed, there were the biggest problems, the opposition phase here is that around 60 percent of the population did not know

we're going to hear more from jerome powell and janet yellen shortly.u have issues, supply chain, inflation, et cetera. what are you hearing about the risk to that recovery from what we know so far from omicron? >> well, look, what we know so far is that the vaccines are going to be at least the most effective vaccines like moderna and pfizer will be somewhat effective. what we don't know is if it is as lethal, more lethal or less lethal. if it is much more transmissible but less lethal, this isn't just a concern, this is a wonderful thing. but we don't know that. and we won't know that in at least a week or two. so the fact that there is so much unknown here weighs very heavily on the economy because it creates more consumer uncertainty. more uncertainty about going back to work, more uncertainty about how safe it is to be with all of your colleagues, more uncertainty about how much you're willing to spend or whether you're going to take that vacation you've been planning on finally after two years. and, of course, that means that existing political le

and jerome powell with jerome, how they know what they're getting, going to sounds, banking system is at risk of collapse if urgent, i'm decisive. action is not taken at the warning from the un deposits to keep bands operating or shrinking due to a cash liquidity crunch. and the spike and unpaid loans. the interim government once its assets abroad to be frozen, the economy plunged into deeper crisis after the taliban took over. in august the security forces the new gun to have increased patrols after recent suicide attacks are killed for people in the capital compiler. at least 100 people have been arrested since tuesday and 6 people have been killed. please say the allied democratic forces in neighboring democratic republic of congo carried out the attacks. catherine sawyer has more from the capitol, police and soldiers in kampala prepared to go out on night patrols. there's a coffee in place because of coffee 19, but by trolls are now more frequent and thorough. falling attacks by 3 men who detonated explosive devices killing themselves and other people, mia police station and parli

i wish that we didn't have distrust as jerome was talking about. i wish we didn't have misinformation and disinformation to the point that people don't believe in the fact that we now have these safe and effective vaccines. i wish that the education and outreach that was done was sufficient and that we would have reached a point where we don't have these preventible deaths due to people remaining unvac sane nateed. unvaccinated. that's not where we are. i wrote a column for "the washington post" last week where two of the people interviewed from dr. scott gottlieb of the f.d.a. and doctor lawrence from georgetown who is a professor of global health law. the professor and i talked about how mandates, they could erode trust in public health. when you make people do something that they don't want to do. but at some point, they may also be essential for the public's health. how do you reconcile that? i think that this is the point that we are at now. we know that vaccine requirements including in the workplace do work. we have seen entities like tyson'

jerome power faces a momentous second term.l, who's the ceo of praefinium partners. so the choice of powell is it the safe choice? lael brainard was also in the running, but many know little about her, what's her background? with the cost of living rising faster than it has for 3 years in the us, across all sectors, biden has spoken of reversing it as a top priority, but the fed has hinted that it doesn't expect to raise interst rates soon, belivieing the curarent high rate is transitionary, but do these numbers put pressure on the fed to act sooner? is he the safe choice, does that reflect overall reaction? beforehand there was a case of buying the rumour and selling the facts, taking some of the prophet. they are approaching thanksgiving in the us, and the all—time highs, what a bumper windfall, people in my industry, the asset management industry, the asset management industry, and the man and woman on the street who has invested in the stock market has been having through their pensions or otherwise, so i think it's very en

. >> president biden announced his choice of jerome powell to serve another term as chair of the federal reserve and brunner to serve as the vice term. here is a look at the president's remarks. remarks. >> >> ladies and gentlemen, the resident of the united states accompanied by chair jarreau -- jerome powell and governor lael brainard >> good afternoon, please, please sit down. before i begin, i want to comment on the tragedy that occurred last night during the holiday parade in wisconsin. while we don't have all the facts and details yet, we know this morning that five families in waukesha are facing fresh grief and a life without a loved one. at least 40 americans are suffering from injuries, some of them in critical condition. an entire community is struggling to cope with a horrific act of violence. last night the people of waukesha were gathered to celebrate the start of the season of hope, togetherness, and thanksgiving. this morning jill and i and the entire biden family and i'm sure all of us pray that the same spirit will lift up the victims of this tragedy, bringing comfort t

and jerome powell with jerome, how they know what they're getting. gamma stands banking system is at risk of collapse if urgent and decisive action is not taken. that's the warning from the un deposits to kate banks operating a shrinking due to a cash liquidity crunch, and a spike in unpaid loans, interim government, once it's access assets abroad to be unfrozen. dominic still hard is the director of operations for the international committee of the red cross. he says the countries on a precipice. i have now spent 6 days here. a of gone is done and you are walking into a country that is at the brink of a huge you know, many terry and disaster. you can hear it. you can feel it everywhere. where you go . why spend a few days in come to are in this country? i had the opportunity to leave it the largest reform hospital in the files of god is done and i saw that children admitted to the pediatrics large in the attic ward and east. i'm more children that have been a bit in august and it's just really extremely difficult to read in there. what really upsets me. this is a man may disaster ab

but for investors, they don't like surprises in jerome powell with jerome. how they know what they're getting. still in the u. s. and closing arguments have a made in the arm at auburn, murder, trump. 3 white men are accused of killing aubrey and unarmed black men last year in the state of georgia. the 25 year old was shot dead while jogging after being chased by the men in a pickup truck. one of them travis, michael testified that he saw operate as a thread and he acted in self defense. she had pretends he is in washington, d. c. and says the prosecution, i use the killing of aubrey was not self defense. watch the thing about georgia law there. it does have a very specific emphasis on, on what's called accomplish liability. so even if you're, you just part of a crime, if you seem to be contributing to that crime, you can be held liable and that's where the prosecution is going for. the, the, the prosecutor also saying, look, you festival aubrey was unarmed. he was running away. you can't claim self defense if you are the one who actually instigated the alte

and jerome powell with jerome, how they know what they're getting from a south korean president sean, do f one has died at the age of 19 tooth was an army commander who seized pallets or a military coup in 979. and next year, hundreds of pro democracy protested were killed by the military. he was sentenced to death for his role, but later patterned protest against his rule led to a transition to democracy. in 1987, professor b j came as a former south korean diplomat. he says, john has a complex legacy, but there are people who, who recognized a president for president jones performance as a i'm this performance idea is interesting to because his performance was that he kept his hands off from the economic policy and that the car was school economist trained in united states to run a climate policy doing necessary things, making necessary adjustments after after he is high growth era. so he's achievement if you will. it was allowing professional economists to run economic policy without much of a political intervention. and there was his interesting idea of what shipment but of course

president biden saying he will reappoint jerome powell of chair of the reserve.ady leadership is needed to get inflation under control. >> like every country in the world, we have to deal with these issues of rising costs, remember we have the skill tools to get under control here in a position to attack inflation, strength not weakness in times like these, we need steady tested principal leadership. paul: puts bring in our panel, deputy editorial page editor, dan henninger, kim strassel and mariana. mary, what you make up the president's explanation for inflation in his program to do something about? >> this is a political problem for the president and naming jerome powell was his best of a couple of bad options. i am a big believer people should have to eat their own cooking so i don't mind jerome powell thing the backseat because he's the one who brought us to where we are now. we have inflation that looks like around 5%. powell thinks that is transitory, temporary and next year it's going to moderate. i think the fed has to take a couple of steps before we ge

that's clearly what jerome powell has been using to point to lack in the u.s. and our colleagues talk about lag in the labor market even as the jobs mark rebounds. on the other hand he has to manage inflation outbreak. i think a lot will depend on where the supply chain story goes. there are obviously tentative signs that perhaps the worst of that may be behind the world economy now, shipping container costs coming up a little bit, though they remain volatile. anecdotally factories are talking about goods getting to destination now and getting their hands on raw materials in a way they weren't. that's possibly -- possibly offer some relief for the inflation story. you have to say right here, right now the pressure will be on powell to prove he has inflation under control. tom: stay with us, by the way, the emerging market currency to watch is very much the lira, turkish lira, 11.7 is what it's trading at. comments on lower rate. plenty more coming up. "bloomberg markets: europe" is next. this is bloomberg. ♪ ♪ >> good morning. welcome to bloomberg markets. i'm

david: well president biden tapping fed chair jerome powell for another term.rmly gas joining me what he is hearing. what you did hear is right on target, you said it would be him. >> i said they would split the baby. this was the consensus on wall street. why do they know about this? they have a lot riding who is the fed chair and shape of the fed. they had lobbyists. the lobbiests were coming back, that essentially there would be a deal here. progressives wanted lael brainard right, for a lot of reasons including she is a dove and she is kind of a lefty. you see her talking about climate change and rest of the such. markets kind of want powell. they think it is stability, something good for the markets. david: you can see it today with the market reaction. you split the baby by doing this. you have, essentially you basically say to the lefties it is your fed to remake but we want to keep our figurehead in there. the reality the fed is in least's independent position it has ever been. biden will have at least three more selections to the fed board. they will p

are we in a situation where there is not much jerome powell company can really affect? >> up until the september meeting, the petted been very clear that, while the recovery had made significant progress, thresholds of substantial for further progress had not been met. the policy was not yet warranted. that all changed in september when that chairman himself came out and said that both components of the fed's dual mandate, stable and full employment had met. that left the door wide open for eight november taper announcement. the following september employment report, the displaying rise of under 200,000, there was concern that the fed would begin to backpedal on that path forward towards externally measures. but we have to remember that the fed has been erring on the side of caution for quite some time. one data point should not deter the momentum to begin the process of rolling back the extraordinary measures with first stage of that taper announcement. we do, very much, expect the taper, with the reduction of asset purchases this month. >> to what extent? what does it

he is renominating jerome powell to a second term as chairman of the federal reserve.t is pending senate confirmation. for now let's take you back to close arguments of the trial of the three men accused of killing ahmaud arbery. this is the defense continuing their closing arguments. this is the attorney of the guest greg mcmichael. >> he spent years as a life insurance salsman not because he liked it, but he did it because he wanted to see his three kids grow up in a neighborhood that was safe and secure, a safe home surrounded by a community of neighbors who cared for each other, band-aids for skinned knees, july 4th parties, block parties that went on for hours, crocheted baby blankets when a new child was born, casseroles when we had lost a loved one. he worked hard day and night to provide those things for the people that he loved. larry english was a contractor in douglas, georgia who worked hard every day to provide for his wife and two children, and to save for his dream, to live on the water in a neighborhood just like that, safe, secure, filled with people w

now moving on us president joe biden has a re nominated jerome pow as the head of the federal reserve for now a 2nd for your time. it's one of the most important economic policy decisions of his presidency, while the announcement also gave birth to the us stock market. kristin salumi is in new york, chris, chris, and it does look like the stock market. so pleased with this proposed continuity. yes indeed, the new york stock exchange has responded quite favorably to the news that jerome powell will be heading the fed for a 2nd term. the s and p at peak was up nearly a percent. 43 points. dow jones, about 3 quarters of a point they've since retreated a bit from their high, but this is definitely seen as positive news by investors. we saw that with the banking stocks which rose as soon as the announcement was made. j. p. morgan, morgan stanley rising, nearly 2 percent and pre market trading before the market even opened and that continued has continued throughout the day with them trading hire. why is this investors know what to expect from jerome powell, amid a very shaky economic recov

by that it will now be jerome powell. as this has to be approved by the u. s. senate, but it is certainly one that both democrats and republicans seem to be encouraged by both democrats, republicans and the stock market since seems kimberly, they seem to rise this morning with this announcement of more continuity. that's right. the you market have been uncertain as a result of the question mark about whether or not this was going to be an appointment that the u. s. president would make. and so already we've seen that their markets have been responding favorably to this news. and the reason is, is that it comes at a critical time because the u. s. is facing not only inflationary pressures where we're seeing the cost of gasoline. for example, this country i'm high is 50 percent higher, but we're also seeing supply chain shortage in some cases. shelves, barron consumers, i'd able to get the goods they need. so the debate right now from the federal reserve is how to address monetary policy moving forward. is that time to raise the interest rates to combat some o

i guess confusion. >> yeah, you just heard from jerome powell. looks like they're inflation fighters and inflation focused. it's too big of a problem to ignore. looking at the inflation at the fastest in 30 years. you her jerome powell saying maybe we need to taper back, wind down the $150 million in bond purchases faster. we might cut to it $30 billion. >> neil: when they do this, they've been buying up this paper for the better part of a decade on and off and forcibly keeping interest rates low. now to unwind that and apparently speed it up, that rattled folks. >> that's right. think about it. if you're cutting back on $30 billion a month in monthly bond purchases, we could have an interest rate hike in march instead of june. you heard about the policy mistakes from the federal reserve. bull markets don't die of old age. they die of events like this. >> neil: so little we know about this variant. we know it just came out of nowhere and ravages -- the fact of the matter is, it's not as severe at least that we know of yet. but the fact that it co

powell. ~ , think most likely jerome powell. ~ ., ., , powell.kets are already getting a little _ powell. markets are already getting a little bit _ powell. markets are already getting a little bit nervous l getting a little bit nervous about this, aren't they, because as you say, it is not actually clear what the outcome will be, and president biden will be, and president biden will make his recommendation of course, but then he has to get through the senate.— through the senate. that's correct. the _ through the senate. that's correct. the timelapse - through the senate. that's correct. the timelapse has created some nervousness on the part of wall street that he may not get appointed, but who knows... that creates uncertainty, and uncertainty creates more volatility and we will see he is supposed to be announcing i would say as early as today, but we don't know, until he actually nominates one or the other, it's still up in the air. ., . or the other, it's still up in the air-— or the other, it's still up in the air. ., ., ., ~ ., the air. you

so jerome pal will say on is the fed chairman. it appears and president biden will also nominate for governor leo brainerd as the vice chair of the central banks board of governors. but in the statement that we just read, president biden the same, we need to build upon the economic success of the past year. it's obviously spin, no doubt about that. but come on, economic success as a result of fed policy. what am i missing? it doesn't seem like you're missing a thing and by the way, thank you so much for having me on this afternoon on this historic day. you're not missing anything. there's to call this year at economic success when a pound of bacon yesterday at the grocery store was $9.49 is absolutely ludicrous. inflation is eating americans alive, especially though the lowest income earners inflation is a regressive tax. and it's also hurting the, the fixed income, the retirees of the world, who they don't have the capacity to spend more at the grocery store. they don't have the capacity to fill up their gas tanks. when when gas

jerome pal is up for another term at the federal reserve as president biden has nominated the current head despite push back from some members of his own party. straight ahead, we're gonna dig into the fresh nomination and what it means for the nation's economic recovery. and oil prices are coming back down to earth as hopes of fresh supply can help ease the global demand. but we're going to bring you up to speed on the very latest developments from the energy sector and briggs that continues to strain trade relations between the united kingdom and the european union as issue persist along the irish border. we have a factual today, so let's get right to it. and we begin today with this announcement to keep things as they are with the federal reserve bank. yes, president biden is set to nominate federal reserve chairman jerome pal to a 2nd term to lead the central bank. so let's break down exactly where things stand at this point because keep in mind it is the fed policy of printing u. s. currency non stop and without concern for impact of the economy, that may be the biggest single co

president joe biden has nominated jerome powell as chair of the federal reserve for a second term.poke positively of his actions during the global pandemic, but some disagree with his views on monetary policy. i were white house correspondent reports. reporter: ending months of speculation, u.s. president joe biden announced his pick for federal reserve chair. >> i am nominating jerome powell for second term of chair of the federal reserve. reporter: powell served a first-term during one of the worst economic downturns in recent u.s. history. that's why biden believes he's the right choice, again. >> when our country was hemorrhaging jobs last year and there was panic in the financial markets, j's steady and decisive leadership helped to stabilize markets and put the economy on track to a robust recovery. reporter: powell faces a storm of challenges, rapid u.s. inflation with price spikes for everyday goods like gasoline and food, and supply chain shortages that have left retailers struggling to keep shelves stocked. the central bank must decide how to keep prices stable. >> we use

jerome powell with janet yellen, what both had to say particularly jerome powell stating the obvious that there is an inflationary problem building here as if. let's go to hillary vaughan with more on that. >> reporter: months and months after americans were told by the white house, the president and fed chair jerome powell that crazy high prices they are seeing everywhere they are being hit with every day is a transitory temporary problem. jerome powell admitted maybe transitory is not the best way to describe these higher prices, that americans are going to continue to be hit with every single day at least until summer of next year. >> how long does inflation have to run above your target before the fed decides maybe it is not so transitory? >> probably a good time to retire that word and try to explain what we mean. >> the agree inflation is a serious threat to our economy and how do you intend to address inflation? >> the risk of more persistent inflation has arisen? >> inflation pressures will linger well into next year? >> that is the expectation but what happened is that day h

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so jerome pal will say on is the fed chairman. it appears and president biden will also nominate for governor leo brainer. does the vice chair of the central banks board of governors, but in the statement that we just read, president biden the same, we need to build upon the economic success of the past year. it's obviously spin, no doubt about that, but come on, economic success as a result of fed policy. what am i missing? it doesn't seem like you're missing a thing and by the way, thank you so much for having me on this afternoon on this historic day. you're not missing anything. there's to call this year at economic success when a pound of bacon yesterday, the grocery store was $9.49 is absolutely ludicrous. inflation is eating americans alive, especially though the lowest income earners inflation is a regressive tax. and it's also hurting the, the fixed income, the retirees of the world, who they don't have the capacity to spend more at the grocery store. they don't have the capacity to fill up their gas tanks. when when gas

and don't miss jerome powell and janet yellen's testimony.e preprepared testimony -- a lot of people said this was dovish, but i thought it was balanced the chairman talked about the omicron variant posting downside risk to employment, but he also talked about inflation with this -- we will use our tools to support the economy and a strong labor market and to prevent higher inflation from becoming entrenched. tom: my emphasis is on the labor report that we start picking up on tomorrow and into thursday and into friday's job report. i think the jobs report, this factor is more important. three month moving average. what if the on employment drops even more than surveyed. jonathan: take a three month average and for darts, because that seems to be what is happening. we talk about it every month, that range once again wide. kailey: by hundreds of thousands wide. pretty much every jobs report we have had over the last six months or so, because it is impossible to forecast in this economy. without people would come back in the labor market wants s

of financial continuity in the face of surging inflation and a supply chain mess as he nominates jerome powell. we expect to hear from the president on that in this hour. >>> welcome to "mtp daily." i'm garrett haake in for chuck todd. we begin with the latest out of wisconsin where we know the name of the person of interest in custody in connection to yesterday's deadly doesn't at a holiday parade in the city of waukesha. we want to warn you you may find the video disturbing. five law enforcement officials tell nbc news that police are now questioning 39-year-old darrell brooksp he's not charged with any crimes and police are not calling him a suspect. we're expecting an update about an hour from now and we will bring that to you live. police say five people were killed and more than 40 others were hurt when a red suv mostly cloudy into a crowd during the parade in this milwaukee suburb. one parade goer described the moment he knew something wasn't right. >> we were sitting in our normal spot we sit at every year for the past at least 14 years of her life and then i -- we've been comin

i'm nominating jerome paul, for 2nd term. his chair, the fred, to reserve, powell served a 1st term during one of the worst economic downturns in recent us history. that's why biden believes he's the right choice. again, our country was hammer jeans, jobs last year, and i was panic and our financial marcus. j steady and decisive leadership helped to stabilize markets and put our economy on track to a robust recovery. powell faces a storm of challenges. rapid us inflation with price spikes for every day, goods like gasoline and food, and supply chain shortages that have left retailers struggling to keep shelf stocked. the central bank must decide how to keep prices stable. it will use our tools, both to support the economy and strong labor market and to prevent higher inflation from becoming entrenched. analysts say raising interest rates is one possibility. what is not clear? he should do that. because if the supply bottlenecks on open up soon, and there's some evidence that they're starting to, then you don't want to slam on

but a way to keep them onboard and support jerome.ve and that she could be sort of waiting in ohs if, so to speak. again, there's no way you could make that leap here, but it is curious that the president met with both of them yesterday. we have no follow-up today. stay with us. ♪ that don't impress me much. ♪ so you got the moves, but have you got the touch? ♪ now, don't get me wrong, yeah, i think you're all right -- ♪ but that won't keep me warm in the middle of the night. ♪ that don't impress me much ♪♪ (vo) the more we do with our phones, the more network quality and reliability matter. and only verizon has been the most awarded for network quality 27 times in a row. that means the best experience with calls, texts and data usage of any major carrier, according to customers. there's only one best network. the only one ranked #1 in reliability 16 times in a row. we are building 5g right. growing up in a little red house, on the edge of a forest in norway, there were three things my family encouraged: kindness, honesty and hard wor

no president joe biden has renominated jerome powell as the head of the federal reserve for a 2nd. for your time, it's one of the most important economic policy decisions of biden's presidency. the announcement gave a boost to the us stock market. kristen salumi will have more on that for us in just a few minutes. but 1st, let's paint to our white house correspondent, kimberly how good. kimberly powell, i recall, was a trump appointee. so this really reflects how bipartisan this process has become. that seems yeah, bear with me. there's a lot of noise happening behind me, but what we're doing is a line that's going on here and it's making an awful lot of racket, but with respect to the appointment that has been made by. * the u. s. president joe biden. what's important to know is, all of this is that this is the 2nd term. so what the u. s. president is saying is that i like the job that you did. i don't want you to do it again. so one of the reasons in the white house state that we should point out were waiting for you as president to the coming hours will be speaking about this, b

and more on the current fed chair jerome powell., and we will continue to use our monetary policy tools to keep it there. >> take a closer look at the growth of the stock market compared with people's incomes. connect with frontline on facebook, instagram and twitter. and stream anytime on the pbs video app, youtube or pbs.org/frontline. >> they give you visility into what people are doinwith money that they don't want you to see. >> we have never seen this many heads of state and global billionaires in one location before. >> we're talking about people who have been accused of some very bad things, who are using this system to hide their wealth in the united states. >>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 isrovided by the ford foundation: working with visionaries on the frontlines of social change worldwide. additional support is provided by the abrams foundation, committed to excellence in journalism... the joh

jerome powell is probably the most important powerful person most americans probably never heard of. this to me signals that the white house is going to stay the course, they're not going to change sources mid stream, to use that terrible cliche and let this fed chief continue on his covid fight. he gets high marks for working quickly with a remarkable stimulus to keep the american economy from slipping into a depression from the covid recession here. so i think that this is a predictable move for wall street and it allows the president to give the fed maybe a little bit of clear way from, remember the fed kept saying inflation was transitory. doesn't feel transitory but the president is keeping with jerome powell here. >> and the markets don't like surprises. >> no, they don't. >> thanks so much to both of you. >>> other big story we're following this morning, right now, closing arguments will begin at any moment in the murder trial of the three white men charged in the killing of ahmaud arbery. >> cnn national correspondent ryan young is following the developments for us, outside t

we've been talking about whether there is any difference between lael brainard and jerome powell.does he want to see? lara: he wants consistency. he wants a strong partner with the treasury. at the end of the day he just wants to be able to focus on his agenda and for the fed to help the economy resolve itself. this is a distraction. your point, there is not a ton of daylight between what we think the policy out, will be should we get lael brainard as the new fed chair. like everything else they are thinking of the next election cycle. lisa: let's look at the broader economic outlook. you are saying you see six or higher year-over-year inflation rates throughout the first quarter of next year but it will come back down to 3% by the end of the year. what are the inputs you get from this? is it the labor market getting more normal? is it commodity prices normalizing? how do we get 3%? lara: i like to build by cbi forecast bottom up. energy is what you look at. energy prices have doubled, oil prices have doubled. look at durable goods. over 13% year on year. i do not think we see it

powell's -- after the term of chairman jerome powell ends. we are expecting a decision before thursday. it does not matter who becomes the new chair, it will be a tricky landing. including the strong jobs market while at the same time disappointing female participation rates not to mention minority dissipation rates as well. >> it is the runaway inflation story. perhaps less so in asia but we are still seeing pockets of strong economic growth. and employment starting to recover. the hawks will be back in focus. we are expecting that they will raise rates and by how much. we did get inflation as well as market numbers coming in better than expected. looking ahead to the bank of korea. a 25 basis point hike flag there as well. the governor saying there should be further tightening in the next meeting. and the pboc has a different set of issues. looking ahead to the prime -- the loan prime rate. >> especially with the chinese yuan at that six year high. it reached -- it is not surprising seeing authorities come out and try to talk down the stren

in more moderate -- or liberal types to appease the progressives who have been complaining about jerome powell. two democrats said they would vote against powell and we know the likes of elizabeth warren are opposed to his renominations. i think at this point, don't change generals or switch horses whatever metaphor you want to use when you are crossing a river or fighting a war. i think jerome powell has acquitted himself well over the course of his time and probably should be given another shot. >> don't change generals in the middle of the stream, as we mix the metaphors. >> thanks, gentlemen have a bra weekend. >>> what do we know about the covid wave that's hitting? many countries are at seven day records for new cases. meg tirrell joins us last hour we were asking if it was simply following cold weather, following the population indoors >> some experts think there is an element of seasonality to it. we know measures came off and people started gathering together there are pockets in these places that don't have high vaccination rates. all of that together is leading to massive spi

and he says that jerome powell shares this view. so now we know that this is something that the president is moving forward on this ends months. some speculation this will have to be confirmed by the u. s. senate. and what we can also say is that there are going to be a lot of challenges ahead because the united states is dealing with inflationary pressures right now, as well as supply chain issues. and so this appointment is going to be very, very crucial as you, as fries to move forward out of some of those challenges. kimberly, thank you very much for that. kimberly hock at live at the white house in to india now, or the government is building the last of major a for alpha major 4 major tunnels in indian administered kashmir. official sate will be the countries long as pass for vehicles. they'll connect areas that are usually cut off during winter time, but as part of me, me tar reports, a project has proven controversial, highly emiliano. these men are building a tunnel in freezing temperatures. and in some of the worlds toughes

a us president joe biden has nominated jerome powell as chair of the federal reserve for a 2nd term bite. and spoke positively of pals actions during the global pandemic, but some disagree with his use on monetary policy. white house correspondent, kimberly how can reports ending months of speculation? u. s. president joe biden announced his pick for federal reserve chair. i'm nominating jerome paul, for 2nd term, his chair, the fred, to reserve, powell served a 1st term during one of the worst economic downturns in recent us history. that's why biden believes he's the right choice. again, our country was hammer jeans, jobs last year. and i was panic and our financial marcus, j steady and decisive leadership helped to stabilize markets and put our economy on track to a robust recovery. powell faces a storm of challenges. rapid us inflation with price spikes for everyday goods, like gasoline and food, and supply chain shortages that have left retailers struggling to keep shelf stocked. the central bank must decide how to keep prices stable. it will use our tools, both to support the econo

add speed to jerome powell with some dire warnings. the potential impact of the omicron variant on the economy. but if powell is actually serious about addressing the issues, which he downplayed for months now. charlie gasparino will dig into that for us, next. ♪ ♪ veteran homeowners- you made a smart move when you bought your home. now make another one and turn your equity into cash. with the newday 100 va loan you can take out up to $60,000 or more. veteran homeowners- with home values at all-time highs and rates at near all-time lows now's the time to do more with your home equity. veterans are calling newday at a record pace to take advantage of the newday 100 va loan. you can borrow up to 100% of your home's value to upgrade the kitchen, add a pool for the grandkids, or have the security of cash in the bank. with an average cash out amount of $60,000, you can do more. >> man: what's my safelite story? my truck...is my livelihood. so when my windshield cracked... the experts at safelite autoglass came right to me... with service i