this is jerome powell _ of the expectations. this is jerome powell trying - of the expectations. the expectations. this is - jerome powell trying to manage a soft landing in 2024. if we look ahead to the bank of england and european central bank, do you think andrew bailey are envious of the position in the us, where it is a little bit clearer, simpler, maybe? t a little bit clearer, simpler, ma be? ., , ., maybe? i would say they are envious to — maybe? i would say they are envious to an _ maybe? i would say they are envious to an extent - maybe? i would say they are envious to an extent in - maybe? i would say they are envious to an extent in thatl envious to an extent in that christine lingard, they have their own issues and probably already in recession, so they are probably also going to have to cut rates a few times next year. notjust because year. not just because inflation year. notjust because inflation is falling but also to support the economy. markets are pricing in five or six because next year from the european central bank and interesting to see how much the ecb gi

i think jerome was spot on.hink the amount of recalibration we have seen even though the jump in the read seems to be significant come it's not that significant of a change in expectations over the course of next year. i would note that look at the big change we saw during november. there was the expectation change from three cuts to five cuts. we are getting into normalizing between those two outside ends of the range. i think the general direction remains that we will have several cuts over the course of 2024 but does it start in march or may? that's where the bond market is trying to recalibrate. in terms of your question of what could cause a significant change here, i don't think we will see a jump back up in inflation expectations. we have had pce come in at half of what it was a year ago. you would have to have a really generous shock event to change the trajectory we are on now. sonali: i want to listen to what jp morgan had to say. the strong wages and higher artistic patient should keep the soft lendin

that is above the beds target of 2% and jerome bed's target of 2% and jerome powell cautioned the committee not ruled out raising rates again in the future. still, wall street, all three markets finished higher and the dow jones industrial average jumped more than 500 points to a record close. this is the third time in a row after all that central bank decided against another rate hike. for investors are satisfied that the fed is done, the only question on their minds is when will the fed start cutting them? what happened in the us overnight? i talked to someone from t rowe price earlier and asked her what the fed's decision means the rest of the world. j decision means the rest of the world. ~ , , ., , world. i think this is a very aood world. i think this is a very good question _ world. i think this is a very good question on - world. i think this is a very good question on what - world. i think this is a very good question on what we| good question on what we have seen during this business cycle is that the fed and the us rates tend to lead other markets so that is one way we can take s

during his press conference, the fed chair jerome powell suggested as much. we are seeing strong growth that appears to be moderating. we are seeing a labour market that is coming back into balance by so many measures and we're seeing inflation making real progress. these are things we want to see. the official�*s forecast potentially mark the end of a rate hike cycle that has included 11 increases to ease rising prices. data you may recall this week showed a drop from its peak of 9.1% in mid—2022 tojust 3.1% in november. that is above the fed's target of 2% and jerome powell cautioned the committee had not ruled out raising rates again in the future. still, for wall street, all three major markets finished higher and the dow jones industrial average jumped more than 500 points to a record close. this is the third time in a row after all that central bank decided against another rate hike. for investors satisfied that the fed is done, the only question on their minds is when will the fed start cutting them? that's happened in the us overnight. i talked to som

representative matt gaetz campaigns for 2024 presidential candidate donald trump in iowa fedel reserve chair jerome powell announces plans to keep interest rates steady for a third time, but does not take future rate hikes completely off the table. later, current and fmer coast guard officers and cadets examine sexual assault and harassment at the u.s. coast guard academy. >>-span is your unfiltered view of government. we are funded by these television companies and more, including comcast. >> you think this is just a community center? no, it is way more. >> comcast is partnering with 1000 community centers to create wi-fi enabled listings to families can get the tools they need to be ready for anying. >> comcast sports c-span as public service along with these other television providers, giving you a front row seat to democracy. next, florida republican representative matt gaetz speaking to iowa voters during a campaign event for 2024 presidential candidate donald trump. this is just a month to go before the iowa caucuses. ♪ >> ♪ o say can you see by the dawn's early light what so proudly we haile

guess who is speaking today, jerome powell. when he talks, is he ever talking and we have to follow it. you are welcome. it is what we do from your friendly folks at coast-to-coast now. i had no idea about the kangaroo thing and no idea that when we would hear from the federal reserve chairman markets would go up on what he says but that is exactly what is happening. let's get to exactly what jerome powell has been speaking about. three bullet points, what is this notion interest rate cuts are imminent. apparently not the case. he wanted to do away with the aggressive interest rate cut, almost started his remarks, premature to conclude with confidence that we have achieved sufficiently restricted stance or to speculate on whether the policy might ease. so dig in, he said the current inflation levels are well above central banks but last time i checked it was 2%, we are close to double that right now. his message is normally the markets would respond unfavorably to that because they build in expectations but are still racing ahe

kay jerome, or someone, or samer swetmoy , he has a reflection on lying, and he then said that therell, normally lying, and the other mysteriously lying, but since they are all englishmen, he said that the germans lie, but the germans , they lie for a purpose, here they are, here they lie, lied, lied and got some result, and the muscovites lie just like that, and this there is a phenomenon, it's just that a person can't help but lie, people can't, and if you lie from the front, you make a profit, you get a kick out of it, katsam. won't say, he, he can't say it, he, he's lying, because he's lying, and why he's lying, no one knows, including katsap, your famous phrase, it's not entirely yours, i remember that ... we were standing during the revolution from tiberias silvasha, you, me, my daughter, wife, and then this, in the collective subconscious, came out of the phrase "about us", well , since you are the author anyway, then so, let's leave it to you, what do you think , the moment will come when this phrase will no longer be relevant, will they ever, or will we... there will be late

kay jerome, or someone, or samer swetmoy, in he has a reflection on lying, and he then said that thereations of liars, one of them, well, normal liars, and the other... mysterious liars, but since they are all englishmen, he said that the germans lie, but in germans, they lie for a purpose, here they are, here they lie, lied, lied and got some result, and the muscovites lie just like that, and that there is a phenomenon, it's just that a person cannot help but lie , people cannot, and if you rely on a fool, you lie, you make a profit, you get a certain thrill from it, katsab won't say it, he, he can't say it. do you think there will come a time when this phrase will no longer be relevant, they will , someday, or whether it will be, they will be later, well , the next ones will be the estonians, so to speak , and then the kazakhs will say so, yes, and then someone else will do so to say, that is, it is already such a constant on the globe that russia will always be like this, which will be, well, do something so that everyone around they will say, here we are. well, it's obvious , it's

during his press conference, the federick chair jerome powell suggested as much. ~ ., , jerome powelleeing strong growth that appeared - much. we are seeing strong growth that appeared to - much. we are seeing strong growth that appeared to be | growth that appeared to be moderating. we are seeing a labour market that is coming back into balance by so many measures and we are seeing inflation making real progress. these are things we want to see. ., ' . . these are things we want to see, .., , see. the official spoke -- potentially _ see. the official spoke -- potentially mark - see. the official spoke -- potentially mark the - see. the official spoke -- potentially mark the end | see. the official spoke -- i potentially mark the end of see. the official spoke -- . potentially mark the end of a rate hike cycle that has included 11 increases to ease government prices. data you may recall this week showed a drop from its peak of 1.9% in mid-2022 from its peak of 1.9% in mid—2022 tojust 3.1%

. >> the chair of the federal reserve, jerome powell, spoke at spelman college, a private and historically black liberal arts college in atlanta e talks about the fed's policy toward interest rates and inflation, saying the federal open market committee plans on keeping policy restrictive until policymakers are convinced that inflation is headed sol will ily back to 2%. this is just over an hour. this . >> good morning, distinguished guests, chairman powell and members of the federal reserve board including our own lisa cook, pedro -- president of the reserve bank of atlanta rafael bostic and its members, spelman board of trustee members, administrators, faculty, friends of the college, individuals from institutions throughout georgia, and the remarkable community of spelman, welcome. i am the chair of the department of economics at spelman. it is a privilege for my department to cohost this momentous occasion. today marks a historic event in spelman's 142 year history. the first visit by a federal reserve board chairman. [applause] yes. this is a tremendous honor for our institution. foun

so in the words of jerome powell, it is too soon to declare victory, yet. >> bah humbug. >> right. but i'll give you this, we are moving in the right direction. wall street clearly liking the fed's decision yesterday, a pause in rates and also baking in three interest rate cuts next year potentially. and the dow reacting. closing at a record high. beating what it did two years ago. so for the fed, essentially, th they're signaling they could be done with rate hikes possibility of three next year but jerome powell saying the work is not done yet. inflation is still too high, prices are still too high for americans, nothing is off the table. but in terms of rate cuts next year this is encouraging because when you cut rates mortgages become more affordable. we heard from red fin this morning that says the daily mortgage rate average dropped below 7%. we were between 7 and 8 so now below 7. and also makes it more affordable if you have student loans, car loans, credit cards. but the big question is, do these encouraging signs track with how americans feel? because we have seen that peo

i haven't heard jerome powell talk about that. >> another question quickly about whether or not the feddid in 1972 just help the president get reelected. in those days it was richard nixon, head of the fed at that time lose the economy a little bit lowering rates so nixon could get reelected, do you think that might happen again next year? >> it's a great question, there is some evidence, not conclusive the fed tends to ease up election years so maybe we'll see extra cuts next year but let's hope. i don't want to see one of those robots take my job. [laughter] david: i think you are safe although who knows with ai. some tik tok is saying the american dream is changing so what does the new american dream look like? like you have to take every tik tok are at their word because they are the gospel but there is an increase #x5, leaving the usa this past year end they are documenting dream life on social media. >> i think new american dream is to leave america. it used to be to stay here and have a job, retire when you're 60, have a house, have a family and now we are not able to live here.

to tumble next year, that is what jerome powell saw, that's why they were so dovish last week.ook at the european central bank, tried to be defensive but pmi data was not that good and there will be more suggestions that europeans have it wrong in terms of outlook. kriti: we'll see how that translates to ethics. mark cranfield, we thank you. coming up china ramping up its iphone crackdown. stick with us, this is bloomberg. ♪ kriti: welcome back to daybreak europe in london. chinese agencies have ordered staff to stop bringing iphones to work. apple asian suppliers are in the red and i want to get details from debbie wu. we knew the ban existed. marley ramping it up? debbie: more state firms across china tell employees not to bring iphones and foreign devices to work. they request employees to carry yellow aprons only, a step up from the hit in september in which a small number of agencies and state firms in beijing told employees to not bring foreign devices into work. so the order was dispensed across eight provinces including coastal provinces, and up to northern provinces. a

when jerome powell said the economy has slowed considerably, that is good news. it means that the fed is now on the size of the stocks. not only is the fed no longer the enemy, it is much more likely to become our pal assuming the economy stays on this current, slower course. this is the about-face they were waiting for. it's the comeuppance for the bears who never embrace the possibility that could engineer a soft landing. it was a terrific soft landing. this one is so soft it barely counts as a landing it all. there is nothing they can do except try to rip their legs out of the jaws of the bear traps. good luck. i am told they really hurt. when you get your first sign that the fed is finally done, there are two ways to look at it. you can say we are ready for rate cuts, perhaps as many as three next year. bonds will lose their traction. it's a goldilocks situation. that is certainly what we saw today. the best performing stocks for the housing and the bank stocks, not tech. a brand-new 20 million share buyback. the banks are new to the party. the bank stocks th

neil: a lot of home stocks but let me get your take on what jerome powell did yesterday. you follow more closely than i do and understand what he says more than i do but he seemed to sort of typically comes in when he says something, he goes before a microphone, stocks crash because he wants to dampen the enthusiasm. this time he added to it. what is the strategy here? >> few people appreciate how arepolitical, as he is supposed to be, how apolitical jerome powell is. the fed will be meeting until the last day of january so i think to me at least powell is getting ahead of the iowa caucuses. in mid january, he's trying to not do politics itself in an election year. neil: he had to know the kind of comments he made would be favorable to the president in the white house. >> he does. by the same token he's pretty resolute about saying i will continue shrinking the federal reserve balance sheet and taking liquidity out of a financial system that is still starved for liquidity, still seeing -- neil: a limit to how much rates come down. that keeps rates from plummeting. >> when

jerome powell was accused of that when mr. trump was seeking reelection, that he was lowering rates. david: since then he fired the guy. couldn't be happy to see trump in another term as president. >> what the fed is trying to do is to weave a fine line between controlling inflation and doing the right thing for the economy. we keep using the expression soft landing, bring down inflation. i think they are doing that and i give jerome powell the benefit of the doubt. he's imperfect, subject to politics. but so far so good. i'm also an investor and i'm invested so i have a vested interest in the fed doing the right thing. david: a lot of people when they saw interest rates going up 5%, where you guarantee your principal went there, are they pulling back and getting back into the market? >> there's money coming back into the stock market. david: people's buying today, the dow is up one hundred 40. >> the nasdaq was up 10% last month. yet we are still well below the all-time highs. the small caps lag by 50% the past 5 years so the

9.1% in mid 2022 tojust 3.i% of 9.1% in mid 2022 tojust 3.1% in november above the target of 2% and jeromel said they had not ruled out raising rates again in the future. still, all three major markets finished higher in industrial average more than 500 points to a record close and this is the third time in a row after central bank decided against other hike and for investors, satisfying this the only question on their mind is when will the feds start cutting them. that happened in the us overnight in from investment firms, they gave me her take on what the decision means the rest of the world. i did this is a very good question we have seen in this business cycle is the us praise to delete other markets and we can only take signalled what is happening and the progress on inflation that makes it feel comfortable to cut interest rates and i wonder what the next step will be if other central banks will get to this stage and easing financial conditions in the markets that is a part of the puzzle, the other part is we know the us economy is a large economy and imports a lot of goods and servic

so the elaborate has gotten jerome and leaders a bunch of pete of silver told me for fulls, though to confiscate frozen doctrine assets, prosecute as 1720000000 euro was to receive from it austin, financial institution in frankfort. several of want of compromise. as you know, a gunman has killed at least 14 people at a university in central, prague, and what's been describe the subject republics. last mass shooting fully failed the gunman, a 24 year old student is also that his motor was still unclear, but a quantity said there's no links to terrorism. the tech government has the class that today a national day of mourning. a frantic run for cover as a shooter opens fire in the heart of products historic center. as police hans, the gun man, staff and students at the university are warranted to barricade themselves inside. others hide on a building ledge. out of desperation, panic, families tried to contact their loved ones. when news of the shooting spread comes you guess method of studying for months and what we found out, it was happening in the philosophy department on them. so i t

a dozens of nigerians have been mistaken. killed in an army, jerome strikes. bombs were accidentally dropped on a north western village where a civilians were celebrating. a muslim festival. nigerian president has called for an investigation a powerful cycle and has slammed into the southern indian state of under per dash, causing devastating flooding. millions of people were taking shelter a cycle and meet young maids land for the neighboring terminal. now to stay. torrential rain and flash flooding have killed at least 8 people. carbon dioxide emissions from burning fossil fuels are sent to hit a record high this year. that's according to a new report released today. the global carbon budget report estimates global c o 2 emissions from fossil fuels to reach 36800000000 metric tons this year, as more than one percent higher than in 2022. china is currently the world's biggest emitter, though, historically it's contributed less than the united states to climate change. and it's also investing heavily in renewable energy. a gray blanket of small here in china is comfortable basing not

germany and other countries. officials in nigeria say at least 85 people were killed when a military jerome strike kid civilians by mistake. the president has ordered an investigation into the incident which took place in the northern state of kaduna. he's called the strike. very unfortunate, disturbing and painful jerry. his army have so far made no comment. shock, then grief. as family struggled to process what happened? they loved ones killed by. what else are these a calling a mistake? residents in the village of to didn't barry was celebrating the muslim festival of my loot. when the bones began to fall, a drone struck, launched by the nigerian military officials say the strikes were part of an ongoing campaign against the militants in the north of the country. do you manage it? i mean, was on a routine mission, james categories. but unfortunately, some members of the to be a community where i think we are affected those residents say they have now buried modem, a t people dozens more, a said to be injured. you know, jerry and president bullet to new bu has ordered a sarah and full fle

jerome powell says they are in no hurry to ease interest rates. we will get to the cash open, we are seeing futures in japan and hong kong pointing to early gains. the s&p closed higher, the highest since march of 2022. watching for further weakness when it comes to the dollar, one of the other big things we are watching or is evergrande, the golden dragon index slumping on friday. haidi: evergrande is facing the matter when annabelle joins us from hong kong. we could see a potential court order. >> that's important. evergrande is the world's most indebted developer. they have been trying to push through a restructuring plan, the hearing has been postponed a number of times but today is the day. judge said this is the time so evergrande needs to prove it has a concrete plan in place or likely liquidation. haidi: there have been so many issues. >> evergrande has so many different groups but it needs to satisfy. the view has shifted over time. we heard they are looking for controlled equity stakes, perhaps another indication on how much this is comi

jerome powell, though, holds a lot close to his vest.is not going to give that away, but ultimately he is going to get questions on that. americans want to know when whether i see more relief. >> good luck getting the actual information. looking for any hint that rates will drop soon. thanks so much. appreciate it. kate? oh, i should note that we are going to speak to the white house about all this have coming up. kate? >>> absolutely. and also this coming up, ron desantis took to the stage, took questions from iowa voters and very clearly wanted to take on donald trump at every turn. the key moments from the cnn presidential town hall. >>> plus, eight americans have now spent 68 days held hostage by hamas. president biden is about to meet with their families at the white house. the promise he is going to make them. >>> and tesla recalling nearly every one of its 2 million cars on the road in the united states right now. the safety concerns sparking this drastic move. we will be back. >>> we are keeping a very close eye on the white hous

as jerome powell explained, it's not quite mission accomplished. the economy, our economy, has defied all expectations, our predictions of doom, and all systems right now are roaring ahead. >> forecasters generally, you go back a year, we're very broadly forecasting forecasting for 2023 and not only did that not happen that includes foot forecasters in essentially all forecasters a very high proportion of weak growth recession. not only did not not that happen, we had a strong year. that was a combination of strong demand but also real gains on the supply side. so this was the year when labor force participation picked up, when immigration picked up, when the distortions to supply and demand from the pandemic, the shortages and the bottlenecks really began to unwind. so we had significant supply side gains with strong demand. we got what looks like a two and a half percent plus or a little more than that growth year. >> so the disruptions in covid unwinding, more people joining the labor force, more immigration also, crucial, right. all coming toge

here's the federal reserve chairman jerome powell.ook back on the progress that has been made toward our dual mandate objectives. inflation has eased from its highs, and this has come without a significant increase in unemployment. that's very good news, but inflation is still too high. 0ngoing progress in bringing it down is not assured and the path forward is uncertain. as we look ahead to next year, i want to assure the american people that we're fully committed to returning inflation to our 2% goal. restoring price stability is essential to achieve a sustained period of strong labour market conditions that benefit all. since early last year, the fomc has significantly tightened the stance of monetary policy. we've raised our policy interest rate by five and a quarter percentage points and have continued to reduce our securities holdings at a brisk pace. 0ur actions have moved our policy rate well into restrictive territory, meaning that tight policy is putting downward pressure on economic activity and inflation. and the full effe

the one thing i would like to see jerome powell doing is what alan greenspan did and paul volcker did can use the perch, jawbone congress. the most important thing from congress is to cut government spending. larry: yes. >> cut government spending and cut government debt. you remember greenspan everything speech he said debt is too high, spending is too high. i don't hear jerome powell ever using his perch to tell congress hey we need a little financial responsibility. larry: jay powell is the john kirby is of monetary policy we'll have a meeting. pull together groups of people to see if we attack houthis. houthis and recession don't exist. kevin hassett, mild-mannered kevin, he triggered a storm on this. the guy is fabulous. coming up on "kudlow," does the japanese take over of our largest steel company jeopardize our national security? very important, nippon steel buying u.s. steel. why do we need steel tariffs in the first place? you have a whole bunch of senators, republican senators that don't like this at all. anyway, my great friend and former commerce secretaries wilbur ross w

we heard something different from jerome powell a couple of days ago. about rate cuts and here comes john williams to the rescue. i think we have to walk these things back and i think the market is getting too far ahead of itself. katie: taking a look at the market, turning a here negative. the 10 year yields reversing a little bit, up about three basis points. damian: very low levels but at the end of the day, this is more than a rate story. it's more about currencies. there is a big move against the dollar for the last few weeks and now that's reversing as well. if we see some compression between europe and the u.s., we will see euro-dollar come off. katie: rest assured you will never let me forget that. let's get to the individual movers. i wanted to start with general motors. not too much of a move now. gm will cut more than 1300 jobs at two plants. it's been a tough time for the automakers recently. damian: their autonomous driving section, they've invested almost three quarters of a billion dollars in the last quarter alone. they have a billion in

cheering what they perceive to be a huge pivot by the federal reserve when it comes to monetary policy. jerome as much in the press conference saying that interest rates are at or near the peak, signalling that they may be three possible quarter percentage point next year. all of that subject to the data that comes in, we have more data today, sales figures which showed stronger than expected sales. this confirms the idea in the us that the fed has managed to engineer an easing of inflation by raising rates. remember11 hikes an easing of inflation by raising rates. remember 11 hikes to the highest level in 22 years but without seemingly hurting the economy so bad as to tip it into recession, that is what the markets are celebrating.— are celebrating. make that connection, _ are celebrating. make that connection, rate _ are celebrating. make that connection, rate rises - are celebrating. make that. connection, rate rises make are celebrating. make that - connection, rate rises make us poorer, that is the idea, it stops us spending and tries to keep a lid on inflation. therefore cutting rates me

. >> cleveland quarterback flacko getting a sack to jerome ford who broke at least three tackles forrd reception. it was flacko second touch down and his third of the night as they clenched just their second playoff since 2002. >>> i want to turn now to the nba and a historic loss for the detroit pistons. the pistons blew a 20-point lead. but boston recovered in o.t. to win 128-122 sending detroit to its 28th consecutive loss what is now tied to it longest losing streak in league history. you don't want to win that title. >>> kansas state earned this giant pop tart for its win over nc state in last night's poptart bowl. doesn't seem edible, though. >>> still ahead, everybody, the titan submersible. oh, it is edible. i was wrong. these are some of the popular fwoogal searches on everybody's mind in 2023. "way too early" is going to be right back. 2023 "way too early" is going to be right back and my skin is so much more moisturized. see the difference with olay. i got this $1,000 camera for only $41 on dealdash. dealdash.com, online auctions since 2009. this playstation 5 sold for onl

host: that was the fed chair jerome powell and here is the headline from the washington post.veryone expected a recession. after pressure over everything from sky high inflation to a looming recession the head of the federal reserve was asked what he does for fun and says for me "big party, big party, this is really as fun as it gets. this is really as good as it gets." for an official who sticks to a tight script the mood was jubilant but it also speaks to a leader who feels finally free to crack a joke. as 2023 winds to a close pal and his colleagues are far from declaring victory on inflation. they cautioned their actions could be thwarted by any number of threats from more the middle east to the china economic slowdown. americans are upset about the cost of groceries and other basics. if we take a look about what we are getting on social media, mi says this on facebook. pessimistic. our debt is rising at the outlook cannot be good. flooding the country with unskilled laborers is not good for the economy. we will get back to that but first we will go to your calls. steve in

the good news comes after fed chairman jerome powell declined to increase the interest rate. banks charge each other to lend money. it's the third time this year the government has kept its hands off the so-called breaking mechanism that's used to cool inflation. some bay area lenders and realtors say this bodes well for their businesses. during what's traditionally a slow holiday season for them, and it's a good sign for the future for buyers who've been fence sitting since rates soared. >> i think as we get out of this holiday season and start to head into the new year, i'm definitely looking forward to having a really strong spring buying market. >> fed chairman jerome powell says there could be as many as three interest rate cuts next year, but our experts say it takes time for each cut to work its way through the system and affect the buying and lending habits of people. >> so, jesse, any indication why the fed is willing to make the cuts that you just mentioned? >> well, all right, now it's running just above 3. >> the fed had hoped to wait until the interest rate had d

forgive me, yes, katya, katyusha, i don’t understand in french, what am i going to talk about with jeromes in ninety-five, they even arrived earlier, hello. in general, sasha, explain to this pole that bragin has nothing to do with this, this is all the vile machinations of journalists, take a break, i’m worried about something, you, sasha, don’t worry, because i will worry, where to start, start with whatever you want, the main thing is faster, flatter the guitarist... call the onsman, sasha, what did he say? what do you have one week? just not with you, but with us, sasha, i mean, i congratulate you, you just did. to our illustrious company, would you like something to eat? yes, well, find a waiter , take me, you have already decided that you will say it gently, i can tell he is very upset, i’m afraid he won’t give a ride, hello, hello, nikita, forgive me, please, i think that everything is fine, that’s good it ends, sergei mikhailovich, what do you think? nothing has been lost yet, the work continues, we have a spare week, and we will take advantage of it. we will do it absolutely calm

speaking at a news conference yesterday jerome powell signaled additional rate hikes could remain onere's real telegraphing there could be three cuts over next year, which would be significant as we head into an election year. joining us to talk about that is reporter for "the washington post" rachel siegel. give us your take what we heard yesterday and this possibility of cutting rates not once, not twice but maybe even three times. what could that do for an economy? >> well, it would certainly be a lift especially after the aggressive sprint the federal reserve has been in almost over two years to slow the economy and all of these estimates come with the caveats we don't know exactly when the rate hikes will come out and whether there'll be three. the economy will not only continue growing but could even benefit from then taking the foot off the brake and letting the economy continue to roar. >> it does seem like the possibility of recession seems to have really faded. >> i asked jerome powell about it yesterday and he said there's no way to look around right now and see there's a

caught inside the 30, inside the 20 goes jerome ford. on his feet, looking for the end zone, gets there >> joe flacco is defying time itself that touchdown pass from the 39-year-old quarterback was one of five first-half scores for the browns in this thursday night finale cleveland punches their ticket to the playoffs for the third time since 1999 with a dominant win over the jets. >>> two of the mos most hal low baseball stadiums got a makeover rutgers didn't have to go far for a wigbig win over miami and while kansas state took home the win in the pop-tarts bowl, the attention was on the game's mascot a life-sized toaster pastry named, what else, strawberry they got to chow down on strawberry after raising their trophy >>> and in basketball, the pistons had the best chance yet to stave off hardwood infamy earlier this week, the team broke the record for consecutive losses in a single season with 27 but detroit found themselves up on the league-leading celtics. while the pistons were able to force overtime after boston furiously erased

i know jerome powell, if he could pull a lever and take billions out of the housing market, he wouldot hurt credit conditions and small businesses. in reality, the fed controls these blunt instruments and maybe you don't want to inject more stimulus into an economy that in many respects -- go to any airport, restaurant or resort -- is kind of overstimulated. geoff: what economic trend resonated with you the most this past year? roben: i thought there were finally wage gains for people. there was an indication that if you were a service worker or sous chef or someone who for years was biting your time and never asked for a raise, it was not that a national fiat about minimum wage had to prevail. you had clout. at restaurant levels and retail workers, there was an inter-standing you can automate out of these problems. a lot of people cannot beg for workers to show up. unemployment is below 4%, can you hire people without adding to inflation? it's tricky, but there is vindication for people who a few years ago were worth eight dollars or nine dollars an hour and maybe now twice that. ge

. >> it'll be interesting as we've been getting this good economic news especially from fed chair jerometo whether or not they're going to start to see how the biden camp is dealing with the economy. we know they haven't been faring well in the economy. senior politics reporter for axios, eugene scott, thank you. >>> as members of congress debate changes in immigration policy, there is a new focus on a small town in the heart of a migrant crisis. nbc news homeland security correspondent julia ainsley has more on that. >> reporter: this is the new epicenter of the border crisis. tiny lukeville, arizona, where the number of migrants is pushing border patrol past capacity. behind me there's a group of about 40 migrants including young children that were just brought in by border patrol after they called 911 because they were stranded in the desert. border agents so backed up they're taking migrants to tucson where their processed and released into the u.s. the lukeville crossing now closed for 11 days due to overwhelming demand for border agents. business owners say they're pay agprice. >>

that is above the target of 2% and jerome powell cautioned the committee had not ruled out raising rates again in the future. for wall street the dowjones international average jumped to record close. this is the third time in a row of the central bank decided against another rate hike. for investors satisfied with what the fed has done is when it will start cutting rates? there is a lot to digests in america big questions about whether a cut is likely. we will talk about that than i want to come onto the uk and europe. what is your assessment of what will happen in america? i your assessment of what will happen in america? ~ �* in america? i think we're getting closer to the _ in america? i think we're getting closer to the point _ in america? i think we're getting closer to the point for _ in america? i think we're getting closer to the point for the - in america? i think we're getting | closer to the point for the federal reserve will cutting rates. if you rewind a year or so ago inflation was nudging double digits stop the central bankers and federal reserve for telling us they would

later in the week but jerome powell, and company it is their big moment. madison alworth. exactly what it as stake. >> reporter: charles, this week it is all about inflation and the fed. it is hope that the former continue towing come down, the latter, the fed can exit stage left and come back when they're ready to cut rates. "the wall street journal" suggests that the fed is feeling good about itself as inflation has fallen faster than many members anticipated. they say succeeding and fallen down a lot more than none envisioned two years ago this piece added to the big question when it comes to the fed, when they will start to cut rates and by how much. they underscored the importance of this to households, to the markets of course and to the 2024 presidential election. this optimism is pervasive, see it across the internet. not only in the journal, shared in the main street media, number of news articles mentioning soft landing that erupted higher. you're seeing how many articles are saying that. bloomberg index is surging all around feeling pretty good when it comes to

all this thanks to jerome powell. how the fed chair got stocks surging and can they keep their momentum in the new year? we'll debate that. plus, bad medicine. shares of pfizer plunging to more than ten-year lows. the headline sinking the stock and what one of our traders is doing with their shares right now. >>> and later, crafting concerns. etsy, the latest name to cut jobs. why the market wasn't buying in on the announcement. in more melissa lee, i'm tyler mathieson. on the desk tonight, carter worth, karen finerman, dan nathan, guy adami. don't let me fail here. >> of course not. >> cover my back. keep me propped up. >> always. >> historic close on wall street today. all kinds of records, both all-time and for the year. the path 52 weeks. the dow rallying 500 points. it was flat at 2:00, folks. 500 points at the close higher, closing above 37,000 for the first time ever. nasdaq -- s&p 500, naz tasdaq u more than a percent. news coming after jerome powell signaled multiple rate cuts are on tap for next year. that n

wall street the dow soaring more than 500 points to close at a new high after federal reserve chair jeromeell made new comments regarding interest rates. christine romans joins us now from wall street christine, why so much optimism >> reporter: lester, powell said it was too early to declare victory over inflation, but he sure outlined a lot of progress and good economic news. the fed has been aggressively hiking interest rates over the past year to control rapid price increases. powell today said inflation is easing, unemployment is low, and the economy red hot in the third quarter is still growing but more slowly, all ingredients for the so-called soft landing the fed has been trying to engineer for markets today, it was a signal the rate hikes are over, and the fed itself forecast three rate cuts next year that would lower borrowing costs for wall street and main street lester >> all right, christine romans, thanks. >>> the supreme court has agreed to hear arguments over access to the widely used abortion pill, mifepristone, in the first major abortion challenge since the court overtur

one of the interesting things we saw in the previous two training sessions after the messaging from jerome powell was that many of the interest rate sensitive stocks that had struggled this year, the cyclical stocks we see in canada that have been lagging, let's say technology, started to find buying interest. are you saying the environment, if economically it holds up relatively well worldwide, that some of those sectors that underperformed this year could have better performance next year? kristina: yes, i think we are going to start to see that already. we have certainly seen that broadening of the market recently. i believe that while we are likely to see a downturn in the first half of the year, stocks tend to discount six to nine months out. they're looking through that downturn and anticipating a re-acceleration in the back half of 2024. that is the recovery trade that i think will drive better performance from emerging markets, equities and european equities. u.s. equities are likely to hold up fine. i think there is a case to be made in particular for the technology sector. but in

many market participants expected from jerome paul at least a hint of softening. monetary policy, butnot formally followed. the head of the fed, on the contrary, did not rule out further struggle with rising consumer prices. at the same time, he pointed to a slowdown in economic activity in the united states and did not even rule out the onset of a recession next year. i would say there is always a possibility that there will be a recession next year. there is a possibility of independence from the state of the economy. therefore, this is always a real possibility. she is here in front of us. the cost of russian sugar level remains one of the lowest in the world, the press service of the ministry of agriculture reported. affordable prices for it ensure demand from outside, including industrial manufacturers, and also increase the competitiveness of domestic products. this year, let me remind you, sugar beet production has increased significantly, the harvest is 4 million tons more than last year. harvest growth contributes to the development of processing. over 10 months, sugar produc

chair jerome powell says we're getting back to the point where both mandates are important.t is inflation and unemployment in recent months we've been talking more about the inflation narrative. and that's taken us to 22-year highs on the interest rate we didn't get a rate cut for december, but we have the promise of 75 point basis cuts that indicates three quarter point rate cuts. >> thank you >>> still to come, there's no place like home for the holidays, especially when that home is right here at 30 rock. the first look at kate mckinnon's return to snl, right after this 's return to snl, rig after this. listen, your deodorant just has to work. i use secret aluminum free. just swipe and it lasts all day. secret helps eliminate odor, instead of just masking it. and hours later, i still smell fresh. secret works! ohhh yesss. ♪♪ ma, ma, ma— ( clears throat ) for fast sore throat relief, try vicks vapocool drops. with two times more menthol per drop, and powerful vicks vapors to vaporize sore throat pain. vicks vapocool drops. vaporize sore throat pain. schwarzkopf keratin col

fed chair jerome powell answering reporter's questions. let's go back there live. >> bloomburg television radio. mr. chairman, you were raising rates to fight inflation and said earlier the full effects of the tightening cycle have not yet been felt. how will you decide when to cut rates and how will you ensure you're not behind the curve there? >> so we're aware of the risk that we would hang on too long. that's a risk and we're very focused on not making that mistake, and we do regard the two -- you know, we've come back into a better balance between the risk of overdoing it and risk of underdoing it. not only that, we were able to focus hard on the price stability mandate and getting back to the price where you do when you're far from one of the two mandates and now getting back to where both mandates are important and they're more in balance now too. we'll be very much keeping that in mind as we make policy going forward. the things we'll be looking at i've already described. we're obviously looking hard at what's happening with demand

katya, katyusha, i don’t understand in french what i’m going to talk about with jerome, look for laura, how did i let go, but i’ve never been so fast i didn’t go in my life, nothing, vitalik, as always , mixed everything up, asked like in ninety- seven, but he went like in ninety-five, they even arrived earlier. hello. in general, sasha, explain to this pole that bragen has nothing to do with it. these are all the vile machinations of journalists. i’m worried that i’m worried, you sasha, don’t worry, because i’ll be worried, where to start, start with whatever you want, the main thing is faster, sasha, what did he say? what do you have one week? just not with you, but with us, sasha. in terms of? i congratulate you. you have just been accepted into our renowned company. do you want it? yes. well, find a waiter, take me. i think that all is well , that ends well, but you are babbling, sergei mikhailovich, do you think that nothing has been lost yet, the work continues, we have a spare week, and we will take advantage of this, we... will do it absolutely calmly, we can take it and you yo

fed chair jerome powell would not offer a specific timeline. >>> that news clearly made wall street very happy. the dow jones jumped more than 500 points, closing at an all-time high for the nasdaq and s and p 500 also shot up. >>> the supreme court says it will decide whether or not to restrict access to a key abortion drug. the case concerns mifepristone. a federal appeals court limited access be the biden administration appealed to the high court. the new case could be decided by july. this will be the supreme court's first abortion -related case since overturning roe versus wade last year. >>> a state appeals court heard oral arguments in a lawsuit challenging california's new rooftop solar panel policy, which would/the credit people get for sharing their extra energy with the state grid by up to 80% beginning april 15th. plaintiffs argued this has already significantly hurt the effort to expand the use of solar panel in the state, especially in low income communities. >>> more than ever, bay area families are in need of a little support. if that includes you this holiday season, we

jerome powell must put on a red suit and a fake beard because he gave the market exactly what everyoneooking for, the dovish pivot, what happened. >> it was a great christmas present for the market and you could not have asked for any more he talked about progress on inflation and the fed indicated they may cut rates by 2 - 3 times next year end the markets are expected even more they are discounting that short rates are five and a half or 4% by the end of next year. the bond market took off with the ten year treasury close to 5% now it's under for that's great news to people with mortgages you cannot mortgage rates getting close to 6.5% and lower soon. >> the biggest beneficiaries were stock to have a talk about and a bullish way for a while. >> is all the major average of n rocking recently, 5% this past week and up 20% in the october lows, speculative groups are doing well, banks which are been under pressure had another great week, real estate investment and many of the interest rates and the sector of the market are doing well. jack: magnificent seven not so much be met they read