take a look at jerome powell on the hill today.dow was up 15 and the premarket s&p down half a point. nasdaq down seven points five. you are watching "fbn:am." ♪ it's too hot to work... it's too hot to work... we work. too far to fish? too hard to hunt? too wet to keep going? nah. this is the gator xuv835. with game-changing heat and a/c, three-wide seating and our quietest cab for a comfortable ride, it's never too anything for anything. nothing runs like a deere. ♪ ♪ build and run apps anywhere you like, while keeping your competitors at bay. the ibm cloud. the cloud for smarter business. you shouldn't be rushed into booking a hotel. with expedia's add-on advantage, booking a flight unlocks discounts on select hotels until the day you leave for your trip. add-on advantage. only when you book with expedia. >> welcome back to "fbn:am." major league baseball game being held at the nationals park in d.c. and it airs on fox tonight. gerri: garrett max back with the highlights that happen in washington d.c. welcome back, sir. >> good m

as jerome powell said, for now, rish.sidenthe of the federal reserve bank in kansas city, is he in step with jerome powell? >> he was considered quite a hawk. center, that is where she is. the flight yield curve might not signal weakness if it is distorted by the feds big balance sheet. that is one part of it. she also said gradual further rate hikes may be necessary to get back to neutral policy. she said the predominant downside risks from uncertainty are coming from around trade policies. this is the consensus view. she is part of that consensus that sees two more rate hikes this year. we will get to hear more. the financial services committee on wednesday. we will hear more questions and answers. we will see what he says about, for now. rishaad: thanks a lot for that. kathleen hays in new york for us. let's get to our guest. he is bound to say for now, isn't he? you think they are underestimating inflation, and also looking at, well, old data. come up they are overestimating inflation, not underestimating inflation. k

jerome powell speaking later this week. thank you very much. atef europe economist standard charter. can china withstand a trade war with the united states? mixed data coming out of china. manus: a little something for everybody. and the ceo of russia direct investment funds. this is bloomberg. ♪ anna: good morning, everybody. 6:19 in london. down 0.4%. closed for a public holiday. not blue skies if you are in the equity market. lots of geopolitics to talk about. mixed data out of china. let's get a bloomberg business flash. >> goldman sachs reportedly plans to name its president as its next chief executive. says theork times current ceo will stay on as -- an interim period. president.d sole goldman sachs spokesman declined to comment. zte sharess -- soared. the company's shares marked up -- marked a month high and rose by their 10% daily limit. resolves as decision month-long moratorium that the zte into ahat thrust trade dispute. airbus is closing in on $29 billion of deals with asian carriers expanding their fleet because of travel demand. b

talking about jerome powell , the testimony yesterday. today he will be before the banking committee at 10 am eastern time. we will have coverage on c- span.org or you can listen with the radio at. but it the chairman tell the house lawmakers yesterday? >> it was straightforward. a message about the economy pick it is in good shape. unemployment is very low and one of the lowest points in the last 20 years. inflation is under control. that is a good place to be and for the economy to be. they feel the current policy and where they projected the fund rate to is a good path. he added a line in the prepared testimony that he delivered yesterday. he said that seems to be the right path for now. it is a little bit of a no -- debate over what they are trying to signal with that pick the one hand there is folks saying this is the same old boilerplate caveat the fed will add. we are not on autopilot. if conditions change, we might speed up the pace of the rate hikes because the tax hikes have stimulative effect. on the other hand, the trade situa

jerome powell has already charted a very independent course in the sense of a couple of things. when he is asked about current -- the current economic growth right now, he took pains yesterday, especially wsh because the house republicans really wanted him to say it's the tax cuts he wouldn't do that. he said a lot of things go into growth. >> and democrats pushed him on other things. >> he wouldn't say it was obama of course either yes. then there is the question about the sort of current things the president takes credit for now and powell seems to go out of his way to say look this began in 2010. this started in 2014 so he really seems to be trying to -- he uses this phrase a lot. in fact maybe i need a dollar for each time he he said it. stay in our lane stay in my lane. also on trade, whatever he may think privately about trade, he sort of just for saying look this is what we hear from investors and from businessmen about it, but being very, very careful not to go beyond just the potential economic impact. >> okay. let's get reaction to president trump's comments on the fed

chairman jerome powell is saying i am not sure. this long-term growth pick up? if that does not happen, is that in issue as well? nejra: is the equity market pricing in that long-term growth, tobias? >> the comments are well-founded, but too many people are focused on tax cuts and less on the big fiscal spending program put in place in april that will add a full point to gdp next year, which gives you visibility to 2019. offset. is an i think the bigger question is 2020, 2021, and the market will probably have muffled compression as a result of that uncertainty. by the time we get to the middle of next year and have more visibility to 2020, then the market can reassess. near-term markets are not likely to price that end. tom: a final question, if we can. can we not, not have a low rate donald? are we going to get jawboning from the president? tom: you are confused because i use the double negative. not have lowme rate donald? thanthink he knows better to interfere with the fed. jerome powell wants to be politically independent. i t

it is all about what jerome powell says. he said we will see gradual hikes for now. will that continue in his testimony today? julie: we shall see -- vonnie: we shall see. rate hikes adding to concerns. the fed chair about to appear before the house financial services committee. here to talk about emerging markets is gabriela santos. jpmorgan asset management. does this continue? >> if you look at the fundamentals for emerging markets we have economic growth which continues to improve. we have earnings growth tracking to grow at 17%. valuations below average. incrediblyp is positive. what has been weighing on performance is this anchor weighing down risk sentiment around the parole. if we could get a lift in the form of clarity around trade clarity around growth disappointment in the first half of the year, that would do wonders for emerging markets on the second half. 4 where are you looking -- vonnie: where are you looking to buy question mark >> emerging markets, where we see more transparency -- where are you looking to buy? where we seearkets more transparency.

are you listening to jerome powell on a day liked to, do you see that concern because i didn't see it reflected in the markets look at this. we're pretty much very close to the highs of the session at least for the dow up 76. >> liz you're absolutely right. i think they're throwing everything at these markets including the kitchen sink. liz: [laughter] >> but at the end of the day, now it could be because we're getting to the heart of earnings and earnings have been very good so far and every expectation is that will continue going forward we've had some pretty high profile companies report with great earnings, you had bank of america yesterday and some big banks on friday and then let's not forget goldman sachs. the fact is corporate america is in a very sweet spot and i think the market reflects that at the end of the day. i think the market is telling us that the lines of least resistance are higher, not lower , in spite of all the hand ringing and the negative politics both locally geo politically. liz: i've got to say i agree with you teddy and larry there was so much talk about

fed chair jerome powell said interest rate risk is balanced by strong economic numbers. this report he gave to the banking committee that inflation is just over 2% but core inflation is at 2% for the 12 months that it was ending in may. now over the past, he does believe that there is moderate wage growth happening without a spike in inflation. the members or senators in this room say for them the big concern is that tariff tit-for-tat. >> really there is no precedent for this kind of broad trade discussions in my adult life, where i haven't seen essentially all of our major trading partners don't know how that cops out. if it results in lower tariffs for everyone that would be a good thing for the economy. if it results in broader, higher tariffs across broad range of goods and services remain that way for longer period of time, that will be bad for our economy and other economies too. reporter: when pressed the fed chairman said prolonged trade tariffs could affect future wage growth and our standard of living. >> so in other words, isn't all this trade uncertainty a t

committee as part of his misenual report to congress and our steve liesman was there. >> fed chairman jerome powell lling congress that the best way to keep the u.s. economy growing is to continue raising interest rates. in his semiannual testimony before the senate powell gave a solid outlook for the u.s. economy saying the job market is strong,unemployment will fall further in the months ahead and inflati flation has more or less hit the fed's 2% target. >> i think gradually raisings ratese way for us to extend this expansion. nothing hur working families than people at the margin of the abor markets more than a recession. >> powell said wages were not rising fast enough yet to cause an inflation concern. that wassi something of a dovis omment and they had without sparking inflation and it was too soon to be helping wages right now and the ultimate effects of all of the fiscal policy and the tax cuts and additional spending wild be to gauge. overall, the tuts have had a positive impact on the economy. though powell tried toteer clear of direct comments on the trade controversy because he likeroto

economy from jerome powell. he was pretty comforting.eve that for now, the best way forward is to keep gradually raising the federal funds rate. guy: joining us now is greg davis, the chief investing officer at vanguard. he oversees $4 trillion worth of assets. good morning. morning, nice to be with you. when we think about what is happening with monetary policy in the u.s., we have been seeing this gradual continuation of economic growth in the u.s., tightening of the labor market, inflation expectations continuing to rise. with the the fed is continuing on their path of raising interest rates. we have two more rate hikes this year and potentially three more next year. matt: is that this waiting investors from buying u.s. equities? earnings growth has been decent and estimates continue to come up, which is the opposite of what we have seen happen the past few years. regardless, the s&p 500 hasn't really gone anywhere. what is holding investors back? greg: we think there are a couple of things holding investors back. that would be a comb

on c-span3, federal reserve chair jerome powell is on capitol hill. he will testify before the house financial services committee about monetary policy and economy. that's a 10:00 a.m. eastern. in the afternoon, the head of the national institute of allergies and infectious diseases discusses this past year's flu season, which the government says was one of the most severe in the past decade. nationalks at the press club begin at 1:00 p.m. eastern. at 2:00 p.m., a hearing on the impact of tariffs on u.s. agriculture. >> next, the european union's negotiator talks about the impact of britain's exit from the eu. he sat down for a discussion at an event organized by the carnegie endowment for international peace. >> good morning, everyone. , the chief operating officer here at the carnegie endowment for international peace and we are delighted this morning to welcome michel barnier, the eu's negotiator for brexit. when we planned this event we didn't know it would be quite so timely, but we were lucky in that regard. i think you are all very familiar wit

he considers jerome powell a very good man." he went on to add this, "he is is not interfering with fed policy decisions." it continues. "i am letting them do what they feel is best." his comments are a reiteration. those long-held positions and public comments." i'm going to make is really easy for the folks watching on beard winking and i came a tap of the side of the nose, you know exactly what the president is doing here. he is saying without saying, hey, jerome, back off. >> neil: if i dream of jeannie kim a -- i would not want to go there. kevin, thank you, very, very much. this is not unusual for a president to go after business. jfk went after the steel industry. president obama to go after wall street oil guys as well. the president has verbally put it out there, hey you, hiking rates in the middle of this, i would rather not and i am's upset when needed. not a president in the past when this has been happening has welcomed these developers. fox business network as well. melissa, on this, but rather yo you? stocks were

we start now with fed chair jerome powell just talking right congressional hearing. this will be the second time that congress actually has a powellto grill chairman on his economic policies. we had already seeing his semiannual monetary report to congress, where the fed underscored their commitment to a gradual pace of interest rate , consistent with a sustained expansion of economic activity, strong labor market conditions and inflation near this a metric 2% objective over the medium-term. we have heard from jerome powell, saying that when he comes to trade, he pointed out countries that are open to free trade have grown faster and countries in the protectionist direction have done worse. for more insight on the testimony, we are joined by michael mckee, who has been following the hearing. what were your key takeaways? michael: powell is mostly concerned with the economy and not making waves for the market. about some big issues facing wall street and is in -- and didn't say much about the yield curve, other than they are watching it and they are not anxious to mak

c-span3, federal reserve chairman jerome powell testifies before the senate banking committee about monetary policy and the economy. that is five at 10:00 a.m. eastern. you can watch all of the websiteg online on our or watch it on the c-span radio app. booktv and american history tv will explore america's natural beauty, history, culture, and issues facing the state starting saturday at 7:00 ..m. on c-span washington journal will examine major issues in alaska. alaska native issues, hunting issues. we will talk about how broadband is made possible for small villages across tundra, glaciers, and mountains. president forming the alaska -- will talk about remote communities of alaska. noon, exploring alaska's literary scene with the amazing pipeline story." also, stan jones, author and former anchorage news investigative reporter on the 1989 exxon valdez oil spill. talksuthor mark adams about his book "tip of the an expeditioning of scientists, artists, conservationists, and writers up the alaskan coast. sunday at 2:00 p.m. eastern, the tour- the c-span cities visits several facilities. at 4:0

money to be made with big margins on big cars but it's a big push for free trade but fed chairman jerome powellalso weighed in on trade today what did. he was testifying in front of the u.s. senate and basically on economic policy and the federal federal reserve policy interest rates and while he insisted that he wasn't. commenting on the current get tough trade policy directly he did say that history indicates that higher tariffs harm growth while lower tariffs support growth an important message and in principle countries who open trade have grown with faster with higher with higher incomes so that was an important message here for the market he also says that he's looking at slowly gradually rising interest rates all this good news for the market the dax clearly gaining traction from that near the end of the day here really bonds in frankfurt thank you. through this taking measures to diversify its sources of soybean imports to buffer the effects of trade tensions with the u.s. which normally sells fourteen billion dollars worth of soybeans to china every year china's soybean imports from br

judicial and executive nomination scheduled for the week and on c-span three, federal reserve chair jerome powell testifies before the senate banking committee about monetary policy and the economy. that's live at 10:00 a.m. eastern. you can find all of its streaming online at c-span.org and on the free c-span radio app. the national iranian american council hosted a discussion on u.s. policy toward iran. foreign-policy and nuclear security researchers spoke about options for the u.s. following its withdrawal from the iran nuclear agreement and sanctions. >> thank you for joining

jerome powell's comments came in his second day of testimony before congress. i don't see any evidence that a recession is eminent. we are not forecasting a recession. i don't really think we see a recession coming. juliette: the u.k. tumbling out of the european union without a deal could cost a deal he. sterling could flunk as much as 8% against the dollar if burned is not. strike a deal -- britain does not strike a deal. a new deal brexit has still regarded as a low probability. global news 24 hours a day, on air and at tictoc on twitter, powered by more than 120 journalists and analysts in more than 120 countries. you can find more stories at the bloomberg on top . we have started to see a little bit of downward momentum in the lot of part of trade. having a look at hong kong and china coming back online and continuing the selloff there. you have movement in the nikkei. it has also turned to the negative down .1%. we have seen strong momentum's in indonesian banks. mentioning the aussie dollar resurgence after that very strong jobs number. we have seen

on c-span3, federal reserve chairman jerome powell testifies before the senate banking committee about monetary policy and the economy. eastern.ive at 10:00 you can find it streaming online at c-span.org and on the free c-span radio app. -- alaska's natural beauty. history, culture, and public policy issues facing the state starting saturday at 7:00 a.m.. exploreon journal will climate change, energy, and the alaska national wildlife rest -- refuge and hunting regulations on "the community -- "the communicators." and they talk about how the company makes broadband possible for small villages across hundred, glaciers, and mountains. then, incoming president of the alaska collaborative comic christopher dietrich on providing medicine. book tv saturday at noon eastern, the c-span cities tour explores alaska's literary and with the author of "amazing pipeline stories." alaskasident of the see institute with her book on "alaska natives." on stand joan -- stan jones the exxon valdez oil spill. and sunday at 9:00 p.m. eastern -- eastern on afterwards, author mark adams talks about his book ic

excuse me, i'm reading the soundbite from jerome powell.line, antjuan, is he spreading a very strong economy. how are democrats going to respond to that? one other thing people don't talk about. wages are up to play 7% year-over-year. if you dive into the weeds, wages for nonsupervisory workers actually fell in june. they didn't go well. that's got to hurt the pocketbook. >> of course it does. to my dear friend on the other side of me, i know it's early in the morning. he skip the coffee once great to the trump kool-aid. if you look at places like south carolina where i'm from, and they will cut through the fabric of our local economy. while he examined the economy as a whole, will we do know is to look at rural america, forget about trying to make ends meet. still people putting two ends together. the truth of the matter is there's still a lot of work in this economy is not as is not as boring and sme pretended to be. the president has problems. his tax cuts, his tax scam will be a problem for middle-class working families and tariffs will

adam: turning our attention to jerome powell issuing an upbeat outlook for the u.s. economy in his semiannual testimony as a trade tensions rise of china and other countries. gerri: more from our own edward lorenz. >> good morning, jerry and adam. the trade dispute risk to weakening the economy is balanced by the economic numbers. just over 2% for core inflation is at 2% for the 12 months ending in may. jerome powell saying we are seeing moderate wage growth, but not spiking inflation. the greatest concern came for the trade tariff tit-for-tat. spinnaker is no precedent for the broad trade discussions. hard to know how that comes out if it results in lower tariffs for everyone, that would be a good thing for the economy. as a result in higher tariffs across a broad range of traded goods and service goods and services they remain that way for a longer period of time, that will be bad for our economy and other economies, too. adam: trade issues could start affecting long-term future wage growth, also are standard of living. >> oldest trade >> oldest traded uncertainty

but speaking to senators, jerome powell downplayed risks of an emerging trade war.me if mr trump's bargaining ultimately produced a world with lower tariffs. astrazeneca will increase its stockpile of drugs by about 20% in preparation for a no deal brexit. the european regulator has told firms to be ready for a possible hard brexit in april 2019. astrazeneca says it's already spent more than $50 million preparing for a no deal brexit. and video streaming services like netflix and amazon prime now have more subscribers than traditional pay tv services here in the uk. the country's media regulator says tv services will need to adapt to compete, saying it would be great to see a british netflix. a quick look at financial markets so you have a sense of how we are progressing today. and we had an up bit close for wall street as well, so of course everybody was trying to digests whatjerome powell had to say, as already mentioned. we also had some stronger results, up the results from deutsche bank and bank of america. that was counterbalanced by balancing the netflix disa

. >> federal reserve chair jerome powell will be on capitol hill tomorrow testifying before the house financial services committee regarding monetary policy and the economy. live coverage begins at 10:00 a.m. eastern here on c-span3. also online at c-span.org and you can listen with the free c-span radio app. this coming thursday, they'll have a meeting with the cfpb and export-import bank. live coverage is at c-span3 and hearing also available online at c-span.org and listen with the free c-span radio app. >> tonight it is my honor and privilege to announce that i will nominate judge brett kavanaugh to the united states supreme court. >> mr. president, i'm grateful to you and humbled by your confidence in me. >> thank you. >> brett kavanaugh of the united states court of appeals for the district of colombia circuit is president trump's nominee for the supreme court. >> and i'm pleased with the nominee that president has chosen and after talking to him yesterday morning i look forward to supporting his nomination doing whatever i can to ensure his bipartisan confirmation. winl's freed

jerome powell is not sounding overly hawkish at all.are saying these rate hikes will continue to come. p.m. here in new york. markets are closing up for tens of a percent. stormya very rainy and day. ramy: markets were positive. the s&p is at its highest. i am ramy inocencio, in new york. haidi stroud-watts, here in sydney. >> president trump has reversed his words on russian election meddling. he now claims he misspoke one word during his news conference with president putin in helsinki. he attempted a clarification that comes more than 24 hours after those comments. i realize that there is a need for some clarification. it should have been obvious, i thought it would be obvious. i would like to clarify in case it was not. in a key sentence in my remarks, i said the word would rather than wouldn't. the sentence should be i don't see any reason why it wouldn't be russia. >> bloomberg is told that they will discuss global trade tensions. response is unlikely to be included in the final statements. the document will input -- mention the i

look forward to your visit to the u.s. >>> taking you to the hill this morning, the fed chair jerome powelltifying before the house financial services, taking questions from jeff hence -- >> several participants noted that their district contacts had expressed concerns about the adverse affects of tariffs and other proposed trade restrictions on future activity and that they were not planning any new investments to increase capacity mid continue -- mid continental nail expects to go out of business by labor day, harley-davidson is moving to europe to avoid tariffs on its exports. whirlpool has seen its shares drop over 15% after trump's tariffs on steel and aluminum, washing machine and dryer prices have increased 15% in the past year as a result these taxtax -- tariffs are afft everything from bicycles to automobiles. there may be delayed negative effect on the economy as well. while the u.s. is taking a protectionist stance toward trade policy, the rest of the world is moving forward on trade without us what long-term economic effects can we expect to see if these tariffs continue to esca

jerome powells appearance on tuesday. good morning. >> reporter: good morning.'t just jerome powell's comments, it was also netflix getting a 14% nosedive there. they've rebounded significantly yesterday. we also told you about jeff besos becoming the richest pan in history, amazon set the prime day sales performed better than the year before. seemed very conversation about the long-time the u.s. economy and talked doesn't likely see it sticking with the current hike in interest rates and wasn't worried about trade and that economic impact. interesting coming out of that question and answer sayses. >> big shift in a letter to employees, goldman sachs, announcing retirement after 12 years at the helm. what can you tell us about his replacement, david soloman, someone already at the firm? >> yeah. he's already been the chief operating officer and president until now, for the last few years. not a huge surprise. he's going to take over in october, in the new year, and also take over chairman role as well as ceo. he told my cnbc co-worker, he's a decent house deejay

and, federal reserve chairman jerome powell is back on capitol hill testifying about monetary policy the economy on c-span3 at 10 a.m. eastern. in the afternoon, the head of the national is the dude and infectious diseases, dr. anthony fauci, discusses this past flu season which the government says was one of the most severe in a decade. that begins at 1:00 eastern. at 2 p.m., the impact on u.s. tariffs on agriculture. >> join us saturday and sunday for alaska weekend. with featured programming on c-span, book tv and american tv.ory we will explore alaska's natural beauty, history, culture and public alessi issues facing the state. saturday morning on c-span's journal.n asked the us energy reporter amy effects of climate change on alaska. and, jack lean pater discusses native american issues on the communicators saturday. alaskancounsel for the cable provider gci talks about how the company makes broadband villages. for small and, incoming president for the alaska collaborative in telemedicine on providing health care through telemedicine to alaska.ommunities in been on book tv on sa

edward thank you very much and the markets actually were fine with just about everything that jerome powellarticularly that the economy looks pretty darn good. closing bell ringing in nine minutes. we have the dow up 58 and so far mostly good news this earnings season but is this as good as it gets? our countdown closer thinks so and has tips on how to protect your money, next, when things turn south. greatness of an suv? is it to carry cargo... or to carry on a legacy? its show of strength... or its sign of intelligence? in crossing harsh terrain... or breaking new ground? this is the time to get an exceptional offer on the mercedes of your midsummer dreams at the mercedes-benz summer event, going on now. receive up to a $1,250 summer event bonus on select suvs. mercedes-benz. the best or nothing. yes or no?gin. do you want the same tools and seamless experience across web and tablet? do you want $4.95 commissions for stocks, $0.50 options contracts? $1.50 futures contracts? what about a dedicated service team of trading specialists? did you say yes? good, then it's time for power e*trade.

on c-span3, federal reserve chair jerome powell is on capitol hill. he will testify before the house financial services committee about monetary policy and economy. that's a 10:00 a.m. eastern. in the afternoon, the head of the national institute of allergies and infectious diseases discusses this past year's flu season, which the government says was one of the most severe in the past decade. nationalks at the press club begin at 1:00 p.m. eastern. at 2:00 p.m., a hearing on the impact of tariffs on u.s. agriculture. >> next, the european union's negotiator talks about the impact of britain's exit from the eu. he sat down for a discussion at an

jerome powell will be testifying before congress this as well. the dow rose 44 points today, the nasdaq was down 20. the s&p down 2. that is nightly business report for tonight. i'm bill griffith, thanks for watching, everybody, have a great evening, hope to see you again tomorrow night. >> this is "bbc world news america." >> funding of this presentation is made possible by the freeman foundation, kovler foundation, pursuing solutions for america'sgl ted needs, and purepoint financial.ha >> how do we our tomorrow? it starts with a vision. we see its ideal form in our mind, and then we begin to chisel. hawe strip away everythingt stands in the way to reveal new ssibilities. at purepoint financial, we have designed our modern approach to

tomorrow, federal reserve chair jerome powell is going to testify before the senate banking committee about monetary policy and the economy. it starts at 10:00 on c-span3 or cspan.org or listen free with c-span radio app. >> wednesday, federal chair jerome powell is also going to be on capitol hill testifying before the financial services committee about monetary policy and the economy. that is 10:00 p.m. eastern on c-span, c-span pspan.org and li free with the c-span radio app. and coming up thursday, the senate banking committee is going to hold a confirmation hearinging for the nominees to lead the consumer national bureau and the export/import bank. live coverage at 10:00 a.m. eastern here on c-span3 and also online at cspan.org and the free c-span radio app. >>> the con gregressional inter caucus held a caucus on the recent supreme court ruling that states can collect sales tax on retailers who don't have a presence in that state. brick and mortar businesses talked about the next steps that congress would take in response to the court's decision.

haven't changed. >> that was president trump voicing disapproval for decisions made by fed chair jerome powellrest rate hikes to senators earlier in the week. live in london we have more. presidents rarely interject when it comes to the fed. could this influence powell's plans in the future? >> this is pretty unprecedented. we've seen elsewhere when world leaders get involved talking about policy, for instance, turkey, president erdogan once he talked about this, they saw the turkish lir crater. seems the fed hasn't actually commented an the comments themselves. the white house tried to stress trump was repeating long-held views and of course is no longer a private citizen, he is president of the united states and seen over the 18 months when these comments are made it does have an impact on global markets. speaking of cnbc, our parent company, yours as well, comcast decided to back way from assets belonging to 21st century fox clearing the way for disney to continue with an acquisition in t the. comcast will focus on trying to buy sky here in the uk. they're competing for fox for that acquisi

maybe jerome powell himself.his is going to make messaging strategy -- they're going to have to think about how the explain rate increases and how they can shift the perception they are under the political thumb of trump. he has thumbed his nose at them. they are going to have to double down and proved time and time again their independence. julie: this comes off of a tense nato meeting. we will see what comes out of all of it. sarahto bloomberg news' mcgregor and vince. blamessident trump rising rates for holding america back. this is bloomberg. ♪ julie: the fed finds itself on president trump's list of factors undermining america's competitive edge. he wrote the united states should not be penalized because we are doing so well. tightening now hurts all that we have done. the u.s. should be allowed to recapture what was lost due to bad trade deals. duee coming -- debt coming and we are raising rates, really? is here with us now from washington. i'm sure he does this in his office. he reads the tweets been write

can you help me understand the argument he's making against jerome powell and rates?look, i 100% respect the independence of the fed and i would never want to suggest they do this or that as a policy. i think the president has -- participates in public debates and, you know, he says his opinion about what interest rates should be. he in no way is trying to, you know, coerce the fed into doing this or that. he's just -- shares his opinions with his supporters. that's something the president does quite well. i would never want to step out -- >> to this point, and why is it that rates, maybe you can help me understand, if the economy is doing so well, why should we keep rates so low? if we keep them this low and we do, in fact, face a recession, remember, we've been coming -- we're now -- this is a nine-year bull run. we won't have any cushion. why does the president or the administration think we need to keep rates so low? >> the president has tweeted what he's tweeted. again, i can say that i want the fed to do whatever they decide to do because they're superprofession

jerome powell is a good guy. he knows that he has to be independent here.et me just talk about a little bit about where we are in this recovery that jason just mentioned. we're nine years in. the longest postwar recovery's ever. >> beautiful recovery. >> a recession is going to happen on jay powell's watch, okay. greenspan had to lower down to 1% to battle the recession we had that started in '00 or '01, whatever that period, and then bernanke had to lower the fed funds rate from 5.5% to 0% after the financial crisis. they need some room to play in the next sort of crisis, and it's probably going to come on jay powell's watch. so this normalization of interest rates makes total sense. it has to happen. we came off a 0% rate for seven years. >> that has to happen. what doesn't have to happen is the president lying again about funs. he said in that interview, jason that the trade deficit with china was $507 billion in 2017 when, in fact, it was $375 billion. the president is right, china has been getting away with murder for a long time. and we need to do som

wardo you think that trade can impact jerome powell's minutes tomorrow night?ttle bit out of the hiking? i think the federal reserve has to be very careful of -- careful to maintain its independence. they can't have the perception that they are depending on what the trump administration does. their job is to look at the u.s. economy and to look how inflation pressures have been building up. looking at a variety of economic indicators and make your decisions based on that analysis. unless the trade war really feeds back into the real economy, there's a certain tangible impact on the fun mental health of the u.s. economy. happens, they should not look at the trade war dispute in focus really on the fundamentals. the trade war is putting a lid on 10 year yields high do they go for you? we should make note that at the moment, markets are generally nervous. treasuries are one of the safe haven assets. investors have been flocking back into u.s. treasuries, german bund's, and so on. all the develop market government bond yields are going to fight an uphill battle bec

yesterday fed chair jerome powell said the economy is in a good place but that trade issues could endp being a drag on growth. >>> here on wall street the dow jones industrials gained 224 points yesterday. the s&p 500 rose 24 points. po. securi a sions'terd the fcc wants to know if facebook adequately warn investors about privacy issues that cambridge analytica mined user information without their knowledge. the fcc wants more information from facebook. >>> and the pay-your-age promotion at build-a-bear workshops turned out to be too popular. stores across the country could not handle the crowd, and shoppers were turned away for safety. you could pay your age up to a max of $29. build-a-bear says it knows customers are disappoint and plans to reach out soon. some were given $15 coupons. >>> and after sunday night there will be just one blockbuster video store left in the united states. the last two blockbuster stores in alaska are closing. the video rental company has shut down in most of t u alaska because internet is so expensive and folks rented video. the last store is in bend, or

and jerome powell is back on comment hill and testify before the financial services committee about monetary policy and the economy. that's 10 a.m. eastern. in the afternoon, allergy and infectious diseases, dr. anthony fauci discusses the flu season, which was said to be one of the most severe. at 2 p.m. the hearing on the impact of tariffs on the u.s. agriculture. >> join us saturday and sunday for alaska weekend with featured programming on c-span, book tv and american history tv. we'll explore alaska's natural beauty, history, culture and public policy issues facing the state. saturday morning on c-span's washington journal, axios energy reporter on the effect of climate change in alaska and on sunday morning, the executive director of national congress of american indians discusses native american and native alaskan issues. on the communicators, saturday 6:30 p.m. eastern, general counsel for alaskan cable provider gci talks about how the company makes broadband possible for small villages across tundra, glaciers and mountains. and telecommunication in alaska. book tv saturday noon east

. >>> federal reserve chairman jerome powell wrapped up two days worth of testimony.erated his upbeat look at the economy even though the trade war could cause inflation to speed up. >>> here on wall street there are big gains for transportation and trade companies but it was a mixed finish. the dow rose 79 points. the s&p 500 added 6 points, and the nasdaq finished slightly lower. >>> the national highway traffic safety administration isn't acting fast enough on consumer complaints. that's according to the report from the transportation department. the report also found the safety agency's process for monitoring car and truck recalls is inadequate. for instance, the agency is not verifying recall completion rates. the actions could affect those affected by defective takata airbags. >>> and bruce springsteen is headed to netflix. ♪ a screen door slams mary's dress sways ♪ >> springsteen on broadway is expected to launch on netflix december 15th of this year. that will be the final night of his sold out run on broadway. during his one-man show, springsteen sings and te

federal reserve chair jerome powell gave an upbeat summary. interest hikes are expected this year in september and december and said trade impact would not impact those decisions. >>> household goods made gains. the dow rose nearl the nasdaq jumped 49 points. >>> goldman sachs introduces a new ceo. david solomon will replace lloyd blankfein after 12 years. solomon becomes ceo on october 1st and chairman in 2019. he's been at goldman since 1989. >>> david neeleman announced jetblue plans to buy new jets. neeleman plans to offer direct service instead of funneling flyers through connecting hubs. the carrier is seeking to fly nonstop to major cities like los angeles, chicago, and new york, but it will use secondary airports that may currently have no commercial service. >>> meanwhile twitter has suspended at least 58 million user accounts in the final three months of last year. it's part of twitter's crackdown on malicious or suspicious accounts following russian meddling in the 2016 election. last week twitter confirmed it also shut down 70 mill

overall if you talk to most economists they believe they're the new head of the federal reserve jerome powell will not be influenced by u.s. president donald trump and will continue doing what she believes to be right that's at least the hope and your kids opinion of most economists here on wall street and on wall street thank you very much for that. and i'd like to film two former rivals quickly becoming good neighbors thank you yes we're talking about the rapidly developing peace process between if you and eritrea today if you're appointed its first ambassador to eritrea in more than twenty years or eritrea hold its troops away from the border and one of africa's biggest carriers if you can airlines says it is in talks about a stake in eritrea and airlines just a day after commercial flights between the two countries brazil. excited and overjoyed every tree and healthy arrival of what they call the bird of peace that they're celebrating not just a thought between the two hundred african neighbors but the chance to reunite with friends and family after being separated for decades. as we like

. >>> well, fed chairman jerome powell told lawmakers today that it is still too soon to tell if tariffsct the central bank's planned course of interest rate hikes, but during his second day of congressional testimony he did say the potential impact of trade monitoreds being >> we hear from our extensive network of business contacts, a rising chorus of concern. as you pointed out, lots and lo of individual companies have been harmed by this. we don't see it in the aggregats numbet because it's a $20 trillion economy and these things take time to show up and we hear many, many stories of companies that are concerned and now beginning to make investment decisions or not make them because of this. >> mr. powell also commented on cryptocurrencies. he says that they are not big enough to poseo a threate economy and that the fed is not looking to regulate them, at least notyet. >> also on capitol hill, a bipartisan group of senator drafted a number of proposed measures that could make it easieror small businesses to offer employees 401(k) plans. so what do these proposals look like and could t

and on c-span3, federal reserve chair, jerome powell testifies before the senate banking committee on monetary policy and the economy. that is live at 10 am eastern. you can find all of this streaming online at c-span.org and on the free c-span radio app. next, senator susan collins, chairs the senate aging committee talks about research done by her committee on rising prescription drug prices. at this event hosted by the pew charitable trusts, the main republican also spoke about the role of government agencies and insurance companies and drug pricing.

then testimony from jerome powell on monetary policy and the u.s. economy. he spoke before the house financial services committee. that airs tonight at 10:00 p.m. eastern on c-span2. >> "washington journal", live every day with me some policy issues that impact two. coming up on thursday morning, utah republican congressman chris stewart will discuss the fallout from president trumps meeting from the meeting with vladimir putin. then we'll talk about the meddling in the election and to the impact on the 2018 midterm elections. watch thursday morning. join the discussion. >> thursday the senate banking committee holds a hearing for president trumps nominees to lead the consumer financial bureau and the export bank. that is live at 10:00 a.m. eastern on c-span three. friday, the national governors association holds a summer meeting in santa fe new mexico. they'll discuss future technology with women in leadership and economic opportunities in the outdoors. >> join us this weekend for alaska weekend, with featured programming on c-span, book to be an american h

jerome powell was appointed by trump, but he is his own man. so much movement on brexit and this talk about preparing for the no deal scenario. the markets haven't reacted in the jittery way that you might have expected, given that you might have expected, given that people are talking about a no deal scenario as a realistic possibility. we have seen the pound fall, but we don't think that is on the back of the political side of things. the bank of england is a bigger risk factorfor things. the bank of england is a bigger risk factor for the pound now. and when the pound falls, the ftse usually goes up. thanks for talking as do the markets and we will see you later to go through the papers. still to come... we'll be getting the inside track on all the big stories of the week including comcast abandoning its bid to reshape the media landscape with a takeover of fox with our economics editor kamal ahmed. you're with business live from bbc news. next, ryanair has cancelled 2a flights between ireland and the uk today as pilots go on strike. it's th

. >>> investors are keeping an eye on fed chairman jerome powell's first congressional testimony.l testify on the economy and monetary policy before the senate banking committee, tomorrow the house financial services committee. powell is expected to reiterate the fed's stance towards gradual monetary tightening, signaling optimism on growth and inflation. >>> now, yesterday, the major averages finished mixed on wall street. p 50do0 shthedos 2e, eath re na fell 20. >>> amazon appears to have smoothed out most of the glitches that snagged its website during the launch of its prime day shopping event. prime day started at 3:00 p.m. eastern time yesterday. it runs for 36 hours. at the onset, many shoppers who logged on got images of dogs and wrong on our end."something went amazon said by later in the day, most prime day links were working. it claims customers ordered more items in the early hours compar last year. >>> and sportswear manufacturer adidas says it will only use recycled plastic in its products by 2024. adidas says it will eliminate virgin plastic, which is popular, becau

. >>> earlier today jerome powell testified before the house financial services committee regarding monetary policy and the economy. you can see the entire hearing tonight starting at 10:00 eastern on c-span 2. a confirmation for president trump's nominees to lead the consumer protection bureau and the export import bank. live coverage on c-span3. online at c-span.org or listen with the free c-span radio app. >>> tonight it is my honor and privilege to announce that i will nominate judge brett kavanaugh to the united states supreme court. >> mr. president, i am grateful to you, and i'm humbled by your confidence in me. thank you. >> brett kavanaugh of the united states court of appeals for the district of colombia circuit is president trump's nominee for the supreme court. >> and i'm pleased with the nominee the president has chosen. after talking to him yesterday mo morning, i look forward to supporting his nomination and doing whatever i can to ensure his bipartisan confirmation. >> if judge kavanaugh is confirmed women's freedom to make decisions about their bodies reforms to our health c

money to be made with big margins on big cars but it's a big push for free trade but fed chairman jerome powell also weighed in on trade today what did. he was testifying in front of the u.s. senate and basically on economic policy and the federal federal reserve policy interest rates and while he insisted that he wasn't. commenting on the current get tough trade policy directly he did say that history indicates that higher tariffs harm growth while lower tariffs support growth an important message and in principle countries who open trade have grown with faster with higher with higher incomes so that was an important message here for the market he also says that he's looking at slowly gradually rising interest rates all this good news for the market the dax clearly gaining traction from that near the end of the day here what he wants in frankfurt thank you. and there's no reason why japanese comic has to like the gesta deal comma both in japan and in the us have shrunk in the first half of this year but the european common market has grown almost three percent in spite of the diesel emissions

jerome powell is going to maintain his trust in that structure and normalize monetary policy in that ment? jerome: rates rallied a little bit with the possibility that the fed doesn't normalizes quickly. if you look at where we are and more importantly the iterative fed program, they are still gunning for a 3.4% tim and a rate over the perceivable horizon. bright.s is let's go to the iterative wonder, michael mckee. does the press conference change with jerome powell now? he has to respond. it will depend on whether he has an opportunity to september because there's no press conference and no dots for the august cap -- calendar. tom: it's a different world, mike. living in al is news transfer media that mcchesney martin and and earns never knew. -- and burns never knew. this point, biotime you to september, this is all but forgotten. the only time this would ever come into play is if there were a very close call of whether they should raise rates are not. then you would have the larry summers argument that they might be pushed into raising rates to show they are tough. we don't know t