presidentews, the said to complain that jerome powell has been a chief money fed chair. more on that in moments. decoding the chama rod -- decoding the drama around paul manafort and michael cohen, the latest legal hurdles facing the president. and one of the top democratic targets in the fight for the senate. we will speak with republican kelli ward on how she plans to keep the senate under republican control. ♪ shery: back to the breaking news, president trump complaining about the fed chairman raising rates. the president making the comments at a fundraiser for gop donors in the hamptons. joining us now from washington with the latest, our correspondent. the president actually complained that powell has been a chief money fed chair -- tell us exactly what he said. >> we have heard complaints by twitter and his own economic advisers including larry kudlow, that he does not like the rate hike path jerome powell has put the u.s.o n. on. but now these remarks to a group of republican fundraisers has become more personal. the nature of the criticism for the fed. what he to

who's in charge of the fed these days powell all the president raising rates is the issue in jerome powell says he'll hike them if need be. and the e.u. is all spinning a little uneasy about all the chinese money used to prop up portugal. this is your business update on how to humphrey in berlin thanks for joining me a tussle full control of the u.s. federal reserve jerome powell is in charge but donald trump hasn't kept quiet as most presidents would about his disdain for interest rate rises but powell isn't taking it lying down that's an annual gathering of central bankers in jackson hole wyoming the fed chief signaled that he expects to continue raising interest rates if the american economy remains robust powell also said that the fed needs to balance maximizing employment with keeping prices stable. so let's bring in our financial correspondent at the new york stock exchange jose jose luis the arrow has a it seems that powell is resisting pressure at the moment can we then take it more hikes all coming. absolutely helen and investors thing two more will happen before the year and prob

and his own economic advisers including larry kudlow, that he does not like the rate hike path jerome powellas put the u.s.o n. on. but now these remarks to a group

investors looking ahead to jerome powell's speech at jackson hole.hina says trade talks were constructive and they will keep communication open, despite meetings with no major progress we know of. hitlatest round of tariffs thursday, taking the total value of goods targeted to $100 billion. let's look at how markets are pricing this. , a little bit of a pickup when it comes to risk appetite. seeing is what we are when it comes to the offshore yuan on the back of those lines about keeping open communication. talks may notons be held until after the midterm elections, that begs the question as to where from here. chinese futures lower after the turnaround in the afternoon session thursday. it has been choppy all week for chinese markets. the hong kong dollar, intervening to defend the currency after it touch to the weak for a third day. they will be looking to see if it is driving up lowering costs in the city. jumping the most in two months. with the fed likely to hike next month, we could see the first prime rate hike in hong kong in a decade. also,

power well for some of the world's most powerful central bankers, hosted by the boss of the fed, jerome powell, we will look at what they have to say as it becomes highly politicised thanks to president trump. also in the programme... the australian dollar jumps as the country gets a new prime minister following a brutal leadership battle, we'll be live in sydney. most markets are on the up. looking at the week that was, we'll delve into the economic stories hit the headlines including venezuela's floundering economy and an historic day for the s&p with our very own andrew walker. and luton hangs onto its claim to be the uk's worst airport, according to one survey. today we want to know what are your favourite and least favourite airports in the world. let us know, just use the hashtag bbcbizlive. yes, don't hold back, name and shame those airports, or, if one particularly stands out, let us know about that as well! we start with the us economy, because us federal reserve chief jerome powell is hosting his fellow central bankers at their annual meeting, in the mountain resort ofjackson hole wy

we start with the us economy, because us federal reserve chief jerome powell is hosting his fellow centralkers at their annual meeting in the mountain resort of jackson hole, wyoming. his big speech later will be closely watched for hints about more rises in us interest rates this year. it is becoming a highly politicised subject. in an interview last week, president trump broke with tradition on the central bank's independence and said he was not thrilled by the bank's policy of raising borrowing costs. he would prefer to see more help for the economy from lower rates. the fed has raised them twice this year, and is widely expected to raise them twice more in september and december. and here is why. the us economy is growing strongly, at 4.1%, and unemployment is at an historic low of 3.9%. but there are serious concerns about the escalating trade war between the us and china, as well as instability in emerging markets, especially turkey, and of course, the possibility of political upheaval in the us. on thursday, president trump told fox news that there could be serious damage to the eco

we have fresh comments from fed chair jerome powell, boosting stocks to new record highs today. powell defending the central bank policy of gradual rate hikes for the first time since facing criticism from president trump. we have edward lawrence live in wyoming with the latest. edward, what are you hearing? you're in the mix out in the bush what it looks like but tell me -- reporter: out in the middle, moose and all, out in the middle. federal research chairman jerome powell outlined strength of economy as reason they go forward with the gradual rate hike to get back to the neutral level. he said the economy is not overheating. he also said quote, adding, quote, we have seen no clear ion of an acceleration above 2%. talk been nation. and there does not seem to be elevated risk of overheating. this is good news. we believe that this news results in part from the ongoing normalization process. this is also part of the reason the market has been moving. where that normalization rate is, or that normal federal funds rate is is varying based on which fed president you talked to. we t

the second answer to your question is there is difference between jerome powell and jeff sessions.eff sessions serves at the pleasure of the president as attorney general. ll, on the other hand, has a four-year term, same as the president, except that his term began two years after the president's term and it ends two years after the presidential term ends. so, the president cannot fire unless for extremely bad behavior or anything untoward. the chairman is there for four years. my expectation is he's not going to get cowed down. there is a good reason that morals exist. fed with go easy because the global conditions without allow them to keep raising interest rates. haidi: very quickly. the other thing that came out about interview with president trump is -- the capital gains tax break. will this drive the next leg of the -- or not get through? >> it has to get through congress. it is not clear with all of the other issues and the november election if there is a change in the house, for instance, whether that is going to go through. the second answer to your question is, if there

the president is offering re-assuring words on that, that he likes jerome powell and like the federalhe has criticized the wto. he's not letting everyone off the hook. the president is taking off for indiana where there's a big rally. he's going to try to help the republican candidate. he's down by double digits there in that senate race. a number of candidates have been down. the republican that we chatted with earlier hopes to be a beneficiary like that after this. the same? that's why capital one is building something completely different. capital one cafés. welcoming places with people here to help you, not sell you. with savings and checking accounts with no fees or minimums. that are easy to open from right here or anywhere in 5 minutes. no smoke. no mirrors. this is banking reimagined. what's in your wallet? little things can be a big deal. that's why there's otezla. otezla is not a cream. it's a pill that treats moderate to severe plaque psoriasis differently. with otezla, 75% clearer skin is achievable. don't use if you're allergic to otezla . it may cause severe diarrhea, na

president donald trump he expected jerome powell to be a cheap money fed chairman. nd donors his nominee instead had raised interest rates. the federal reserve has raise rates five times since trump took office, including twice this year under powell. the president nominates the fed's chairman, but it is independent and has frustrated presidents by raising borrowing costs without regard for politics. president trump has said he will not make concessions to turkey to secure the freedom of a detained pastor at the center of a diplomatic dispute that has rocked the nato ally's economy. claim thateated his china and europe manipulate their currencies. in an interview with reuters, he said when the u.s. puts tariffs on chinese goods, beijing artificially lowers the level of the yuan. with data arems all in the past according to the man in -- behind government statistic. the head of the national bureau of statistics said countries growth will exceed its annual target despite the trade war with the u.s.. >> within china's 6.8% economic the first half of this year, domestic

has said donald trump he expected jerome powell to be a cheap money fed chairman. bloomberg has learned he lamented to wealthy republican donors on friday that his nominee instead has raised interest rates. reserve has raise rates five times since trump took office, including five since -- independentrman is it has frustrated presidents by raising borrowing costs without regard for policy. president trump has said he will not make any concessions to turkey to secure the freedom of a detained pastor. at the center of the diplomatic dispute that has rocked the nato allies economy. he also repeated his claim china and europe manipulate their currencies. in an interview with reuters he beijing artificially lowers the level of the you want with the u.s. places tariffs on chinese goods. china's problems with dodgy data all in-house according to the man in charge of government statistics. national bureau of statistics said the company's growth this year will probably exceed its annual target of 6.5% despite the trade war with the u.s.. >> within china's 6.8% economic grow

based on the fed minutes and fed chair jerome powell, a little bit of a gyration that is interesting to take a look at. there is an interesting gyration for gold. that advisorsrt shared with us earlier this week on smart charts, a tremendous chart of gold. here is 2008, the financial crisis when gold fell, the big bull market, the consolidation, the gold crash and the recovery above what had been resistance but breaking the low support. gold is at a real crossroads. they talked about how it would hit 1150 and it hit 1160. if it does not hold, it could suggest gold will come down to this yellow line. we will see whether or not that happens. we have netflix up 3.7%. suntrust raised the stock to a by -- buy. autodesk up 15%, it's best day since 2003. they put up a solid beat and boost quarter with subscriber growth up. paypal up four point 2%, some nice tech strength. vonnie: back to the breaking news, senator john mccain's family is saying the senator will discontinue medical treatment. ago thatbout a year the senator was suffering from a glioblastoma, and aggressive brain tumor and th

jerome powell made the comments at anvent attended by some of the world's most influentiall cent bankerseeting in jackson hole and steve liesman was there. >>> chairman jerome powell in his ftist m as chairman at the renowned kansas cityrv fedel re bank conference in jackson hole, saying they remaia approprinder cheg markets by saying there does not seem to be a risk of overheating in the market and this dpite hiej amounts of fiscal stimulus. ube u.s. economy has strengthenedantially and more important for markets. he said the strong economic performance hexpects to continue. he also said the federal reserve would do whatever it takes if inflation becomes unanchored. ae fed looking for a 2% inflation targe inflation is right about there now. there was a concern that powell expressed about whether or not e fed ought to be looking at inflation or perhaps in financial mowkets andl saying in the speech in the run-up to the past two recessions and ildesting excesses appeared mainly in financial markets rather than inflation and the risk management suggests looking beyond inflation for signs o

jerome powell expected and jackson hole. advisors still with us.y good to have you comment on this then. we got these comments from jeffrey talking about the next short treasury positions indicated by the red mark on recordart, hitting levels. investors, hedge funds in particular, assuming if it sticks to its course and will not be put off by turmoil in emerging markets. is that your view? altaf: we say underweight global bonds as well, including the u.s.. strong. economy stays and we see no reason for the fed to alter its hiking cycle. whether that is because of emerging-market risk or something else, for us, it is about as interesting as watching paint dry and it will keep continuing. anna: it relies on a lot of decoupling for the fed to do , not fingers in ears having to react to emerging-market turmoil. some have said turmoil has made the fed hit the brakes, but not this time seems to be one of the messages. altaf: i think you are absolutely right. last year felt like a year of synchronized global growth. this year feels like a much more decoup

. >> the president telling reuters last night that he is not thrilled as we can tell with jerome powell'secision to raise interest rates he said he will continue to criticize him if rates go up further. he said the fed should be more accommodating, do what's good for the country and i should be given help by the fed. the fed is meeting in a few weeks and expected to raise rates again. we should expect to hear from the president more about that then and president trump is taking aim at social media companies like twitter and facebook saying it's dangerous for these companies to self-regulate this is interesting relation to this record bull market that's happening, if the market doesn't have a huge drop today, a lot of the credit goes to the tech companies like facebook, netflix. facebook with a 350% gain since it went public in 2012 >> susan mcginnis, thank you very much. >>> let's get more to the president's comments and everything happening now, joining us now is art hogan. unconventional president, art, doing something rather unconventional, going after the fed. the market reacting a bi

. >>> jerome powell will deliver his maiden jackson hole speech as fed governor today in the shadowsdent trump's criticism. more when we return. man: are unpredictable crohn's symptoms following you everywhere? it's time to take back control with stelara®. for adults with moderately to severely active crohn's disease, stelara® works differently. studies showed relief and remission with dosing every 8 weeks. woman: stelara® may lower the ability of your immune system to fight infections and may increase your risk of infections and cancer. some serious infections require hospitalization. before treatment, get tested for tuberculosis. before or during treatment, always tell your doctor if you think you have an infection or have flu-like symptoms or sores, have had cancer, or develop any new skin growths, or if anyone in your house needs or recently had a vaccine. alert your doctor of new or worsening problems, including headaches, seizures, confusion and vision problems. these may be signs of a rare, potentially fatal brain condition. some serious allergic reactions can occur. do not ta

. >> reporter: good morning, jon, thanks very much fed chairman jerome powell in his first speech asn at the famed enclave in jackson hole, put on by kansas city federal reserve. striking a dovish tone, that's the way the market has taken i want to lead with market reaction, the 210 spread down below 20 basis points. last one was 19.7, 19.9, below 20 basis points first time since 2007 as the ten year fell down i have a 282 reading a few moments ago. what did he say that the market took as dovish, is the market right here i'm going to get to a hawkish comment he made at the end first, let's look at the comments the market is focusing on doesn't seem to be risk of overheating. that's the comment that's -- we're going to get to that full screen later, risk to the economy. he says doesn't seem to be risk of overheating second, says the u.s. economy strengthened substantially and most people that want a job can find them, and strong economic reforms will continue. he said we'll do whatever it takes if inflation expectations become unhinged either way, up or down. there's no clear sign of

. >>> well, fed chair jerome powell speaking for the first time since president trump criticized himed for hiking rates. our own edward lawrence is in jackson hole at the fed's annual retreat. there is edward. he is coming up next. cheryl: fed chair jerome powell defending need for rate hikes, by slamming -- despite president trump slamming the fed rate hikes. president trump may not be happy about it. investors really seemed to like what he had to say today. the dow is trading higher. we're up 139, that ticked in in after powell's comments this morning. edward, almost he said at one point that mission accomplished. >> the market may be reacting to fed chair jerome powell inflation stays around 2% mark, with no elevated risk going above that the chairman saying he sees no reason or does not believe in the date that he is seeing now. that the economy is overheating. but he says we need to keep looking at data. chairman powell did not directly talk about the trade dispute going on. fed presidents are at this conference. i talked with several fed presidents like rafael bostic, the atlan

. >>> plus federal reserve chair jerome powell walks and talks in jackson hole, and wall street hears his dovish comments loud and clear. s&p, the nasdaq, the russell 2000 on track for all-time records as the dow inches closer to finally getting out of correction territory, why is gold spiking too? and tesla looks to pull out a% gain on one of the most tumultuous weeks in the company's history. charlie is on that with less than hour to the closing bell, so let's start the "countdown." . liz: so we want to start with the breaking news regarding your money and wall street. we are about to witness a record hour for the markets, the s&p as i mentioned. but look at nasdaq and the russell 2000. they're all hitting all-time highs, all on pace to close at new records. this, you could point to dovish comments from the federal reserve chairman jerome powell who sees solid economic growth, but inflation is not overheating. right now the major averages are looking to end the week to the upside, but let's pick apart stock stories here, take a look at this one. software company autodesk, a clear wi

we'll hear from jerome powell. fed is might be more precious to all of us. there is move with younger voters, i bring this up, we may see a change in november in the power structure of washington, socialism. you have got especially these young democrats talking about being socialists. there was actually a "fox news poll" that just came out, that showed, i got to show you, u.s. move toward socialism would be good or bad, i can't believe this, todd, 36% would say it's a good thing if we were socialist country. it would be-- 51% say it is bad thing. that is a big jump from other polling in the past, what do you make of that. >> 36% are living under mommy and daddy's roof and their bank account because they don't understand how the real economy works. until they wake up and you have to see what is going on, for example, you mentioned venezuela at the top of the hour. when you see how socialism really works where they take money from hard workers and want to give it to everybody else. that is not the way that true free markets work. when you end up in socialism,

a lot of people want to know what jerome powell meant when gradual hikes are here for now. what does for now mean? >> the problem we all become so conditioned to parse every single word out of fed policymakers mouths. where jay powell says what he means. people on the fed, leaders on the fed used to say they were data dependent, but models would sway them otherwise. for jay powell, if the data changes he will change with the data. that is all he is saying. there was something very interesting in the minutes, residential housing was brought up first time. that was a dovish insertion and i would look to see if his remarks bring up any potential weakening in the economy come friday morning. cheryl: you know, because we have actually seen weakness in home sales, in particular new home sales. that helps retailers, home depot or lowe's. people are like if i stay in my home i will improve it. that is not interest rate story. because interest rates are historically low. to back to 1982, my parents paid 16% interest rate on their mortgage. we don't have that. >> i would say the consu

he said he expected jerome powell to be a cheap money fed chairman.ioned these wealthy republican donors that his nominee raised interest rates. romaine, i'm going to bring you in. you expect some grumbling from the president. romaine: he does that. it does not mean the fed is going to be listening. romaine: let's hope not. there is a difference between him grumbling and taking some action to influence what powell does. toell has done a good job maintain that the near of independence. of independence. as long as he does that, the markets remain confident. if there is any indication powell is getting into his demands, that could raise concerns. we know how important central bank independence is to markets. it is a bedrock of our economy and that is intact. let's not worry about central bank independence. the fed has raised twice under powell, a raised three times under the former fed chair. they were keeping the trajectory of ben bernanke's idea. that was taken through by three fed chairs, all of them were appointed by republicans. romaine: there is co

why he says he is not thrilled with jerome powell. when i received the diagnoses, i knew at that exact moment ... i'm beating this. my main focus was to find a team of doctors. it's not just picking a surgeon, it's picking the care team and feeling secure in where you are. visit cancercenter.com/breast >>> president trump breaking presidential protocol by criticizing the federal reserve. he told reuters that jerome powell is raising interest rates. trump appointed him last year. trump said the fed should do more to help him boost the economy. now candidate trump criticized the fed for doing exactly that and keeping interest rates low to help president obama. >> we have a fed that is doing political things. this janet yellen of the fed, the fed is doing political. by keeping interest rates at this level. >> now president trump wants the same easy money policies for himself. the fed did not comment. historically, the presidents do not talk about the fed. powell reaffirmed that issue last month. >> we do our work in a strictly non politi

woods tightening monetary policy trump said he was quote not thrilled with the rate hikes chairman jerome powell has said the federal reserve will not bounce or pressure is expected to raise its key rate choice small business year another two times twenty nineteen. when i want to bring in our financial correspondent also if you should month ski is all in a wall street so feet well it was of the moves that trump wanted he made it very clear he's not afraid of saying so despite the fact that the central bank's meant to be independent well has been out from couldn't care less last weekend's as a fundraising event of the g.o.p. apparently behind closed doors so told some people that powell is not the fed chair he had soured he wanted powell to be a provider of cheap money but now this guy is raising rates twice actually already and he's finding more apt to rate from something like two and a half percent so two more rate hikes this year one rate hike at least and then on on the record and interview with the white house term said that in other countries and economies the federal reserve banks would do

i like the statements from jerome powell. he says we're in a strong economy.kets are looking for. he doesn't want to chill the current expansion and that means we are not going to see that much tighter monetary policy which is good for stocks. neil: you know, that's one thing the president fears, the federal reserve goes too far and you know, puts a damper on this whole party. what do you think? >> but too far, they aren't going to go too far. they are taking their time. you have to remember, we still have the ten-year and i am amazed with so much debt out there, we are still sitting at 2.8%, 2.9%, which is tied to mortgages which is important to the economy, credit cards also. look, i look at consumer numbers, i look at retail stocks, they are skyrocketing. it's telling you everything you need to know. again, we should be at 5%, 6% just based on our debt and based on the economy, and we're not. again, easy money is a great, great backstop for both markets and the economy and it's feeding on itself right now. i actually do think if we get past september, we ma

that probably puts the fed on course for a september rate hike after its next meeting fed chair jerome powell said at the start of the year that interest rates would continue to be raised in small moderate steps they now stand in a range of one point seven five to two percent off for a small hike in june u.s. president donald trump has room to get further hikes fearing it could slow down economic growth. and earlier i spoke to a wall street chorus one of so few shipments going off of her and she had any sense that the fed is taking trump's concerns on board. i wouldn't say so first of all has monetary policy and anything concerning the fact that it's usually not anything for the president to comment on the independency off the fed has been has high in last years and decades so it could be freed from the whims of politics now trumbull once again is breaking the rules and surveys show investors disapprove larry summers who last served as president obama's top economic adviser told c.n.n. money that nothing of this kind have happened in the past twenty five years one concern might be that the fe

investors and fed watches are especially awaiting the keynote address from the central bank's chairman jerome powell it'll be his first chance to comment publicly on recent criticism from the white house president on a trump has said he was unhappy with the fed's plan over gradual interest rate hikes that was a break with a long standing convention the presidents do not comment on the fed's decisions to preserve the banks independence palace remarks in jackson hole will also be examined for any clues as to whether he thinks washington's trade policies will hurt the u.s. economy and how badly. and for more on this i would like to check now with callum pickering see the economist at their bank bank in london good to have you with us so we just heard central bankers are gathering there in jackson hole and i'm sure they have a lot to talk about what's the biggest issue. biggest issue is essentially trade wars and fed pour say now when it comes to fed policy the message from jackson hole from any of the fed by his will simply be that the fed is not trying to spoil the u.s. or global swing through its int

president trump has complained about the raising rates from jerome powell. our's bring in correspondent who broke this story. we are not surprised that the president didn't like the rate hikes, but what exactly did he say at the meeting? we heard through him, through tweets and his advisers that he is not happy about interest rate hikes, but for the first time we're hearing that he is said to have told an audience of fundraisers that he thought that jay powell would be a cheap money guy. that he would be the right nominee to keep rates low and the economy booming. the 10-year at 2.2% right now. >> trump is a real estate guy. with it is that his experience investing, he looks at rates from that perspective and he wants to reach voters who will be heading to the polls and reflecting how they feel about the trump administration so far. it all comes down to how much they are making, how the economy looks, can they get a house or will they be able to buy a mortgage? he is speaking that message to voters and donors. thing is saying, another is doing or taking acti

expected to raise its keep rates two more times this year and another two times next year chairman jerome powell says he's concerned about inflation rate pressures in an interview trump said he was not thrilled with the hikes he also refused to say if he believed in the fed's independence powell said the committee will not bow to political pressure. kind of cool because in frankfurt to give us the european angle on this story now presidents normally don't criticize the fed but breaking rules it's nothing new for trump is it. well here thought some rules when you are the united states president you should not criticize the fact you should also not doubt what your intelligence people from the f.b.i. tell you also should not insult people on twitter but donald trump does not seem to know that i guess what he took over or he simply doesn't care well i guess he probably didn't really care we have heard him saying that many times that he accepts loyalty and he has been clear also throughout his campaign that he is in favor of a very weak dollar investors mostly in the united states called this latest

that is something jerome powell is trying to get away from. trying to get in more meetings so that the market stops guessing when hikes are going to come based on their calendar. rick: he was to give himself a bit more optionality. he needs to do it in a way that is paradoxically a little bit signaled. giving himself flexible the makes sense, that no move today for the time being. we are seeing developments pretty strong in the u.s., but there are still some canaries in the coal mine. i think we have to be careful about that trajectory being unchanged into 2019. anna: have a chart that shows the fed and what expectations the market has. the fed sees 3-2019, but the market is pricing in 1.5. rick: there looking at the shape of the yield curve. they are anxious that we are right at the end of the cycle, and that the rate hikes we have already had have not really fed through. a lot of dangers. we have a stronger dollar that could be affecting things. fixed income investors are going to be continually cautious in terms of rate hikes relative to th

also, criticism of the fed from president trump of jerome powell.t for daybreak australia. all the action up ahead on daybreak asia. this is bloomberg. ♪ yvonne: it's 7:00 a.m. here in hong kong. welcome to "bloomberg daybreak: asia." then trading on wall street, the s&p 15 points of a record. bhp will be in the spotlight after full-year net is the lowest estimate. underlying profit has hit a four-year high. and from bloomberg's global headquarters, i'm ramy inocencio in new york where it's just past 7:00 p.m. on a monday. president trump lashes out again, accusing the e.u. and china of manipulation as well as promoting jay powell's perf

lots of that is down to one person, jerome powell, the chairman of the third in the us, he was hostinghe talked a lot about the us economy. nothing unusual or concerning in his speech, so unusual or concerning in his speech, so it's expected rates will go up twice more this year in the us. i'll see you soon. the recent heatwave has seen many of us choosing to holiday at home this summer. the welsh coast has drawn plenty of tourists because of regeneration that was funded by the eu. but what could the post—brexit future hold for the region? tomos morgan has been to find out. son may have thought that rhyll has had its heyday but this seaside town has been revitalised in recent years by european funding and this cash injection alongside the recent spell of good weather has helped businesses like the local kite surfing school. when people come here you literally could be anywhere in the world, so in general there's so in the world, so in general there's so much improvement going all the way down the promenade and people come here they love it, and they don'tjust be for a day, they stayed

war times this year to want times this year and another two times in twenty nine thousand german jerome powell says he's concerned about inflationary pressure in an interview trump said he was quote not thrilled with the hikes he also refused to say if he believed in the fed's independence powell said the committee will not bow to political pressure. that is something to discuss with our man at the frankfurt stock exchange or today outside the frankfurt stock exchange corp presidents normally don't criticize the fed but breaking rules is not exactly anything new with donald trump is it. yeah exactly monica well when you're the president of the united states you should be aware of a couple of things first there might be organizations or institutions like the f.b.i. or like the federal reserve in the united states that you might not agree worth but who can act completely independent even without your approval and in this interview donald trump has proven once again that he is either not aware of this or that he simply does not care and something what he said in this interview that he doesn't agr

jerome powell gets set to have a big speech next hour >>> bullish on the economy president trump says it's probably the best the country has ever done. stock futures are pointing to another slightly higher open >>> and trade war impasse. no breakthrough in u.s./china talks as the new tariffs didn't kick in. >>> stocks are poised to open higher you saw that as investors look ahead to a speech from the fed chairman jerome powell it's about an hour from now. he's going to speak at the economic annual policy symposium in jackson hole, wyoming here is what james bullar told steve liesman earlier on "squawkbox." >> as far as inflation and the u.s., i don't see much inflation pressure and the reason you want to be preemptive would be to shut down inflation, and the market is not seeing that. i'm not seeing it in the market. i'm an inflation hawk but i don't see that developing. if it does develop, i think we could react and react appropriately. >> all of which means what, sara >> i don't know if i'm more excited for the walk, which is a great annual tradition, you know, on the balcony of the

the president saying that he needs more help from jerome powell.ppy about interest rates rising. i wanted to go back in time to two years ago. the second debate when the president had the opposite position. he was accusing the fed chief then and the president of inflating the stock market and using the fed for political purposes. >> we have a fed doing political things. this janet yellen of the fed, the fed is doing political. >> so he's complaining this fed is not doing that for him while he's trying to level the playing field. he says he'd like interest rates to stay low. jerome powell for the record just last month is on the record saying the fed doesn't act politically. listen. >> we do our work in a strictly non-political way based on detailed analysis which we put on the record transparently. we don't take political considerations into account. >> there's an annual central banker convention in jackson hole. i can't believe i'm saying this. >> you're geeking out. but it's exciting. through the prism of an executive branch that is criticizing t

if the data changes so will jerome powell. >> why do you think we're getting three more rate hikes? the inventory draw down that was unexpected in the second quarter, thatwill be pa back in agood way in the third quarter. we could have two back-to-back strong quarters. that will give him momentum and leeway to keep going into the winter >> is the unknown, the wildcard, whatever term you wanted to use, trade and the president? >> of course it is >> was that -- yes that was rhetorical, wasn't it >> we're simple folk on tv >> but market, ism, all of it. the ceos, they're all starting to use the language and say this is effecting business. and he will -- jay powell will listen to these ceos that's why he was so strong about inflation. if we don't see average hourly earnings come up tomorrow, that's a statistician error. i know from ceos that labor costs are rising >> danielle, thank you >>> this morning's rbi, jeff bezos, who is worth an estimated 1$150 billion, he would need to spend $28 million a day just to avoid getting richer if amazon stock keeps going up we call those good proble

chairman jerome powell. the take home job performance. that is next. pah! that will never work.o, nah. a bulb of light?!? aha ha ha! a flying machine? impossible! a personal' computer?! ha! smart neighborhoods running on a microgrid. a stadium powered with solar. a hospital that doesn't lose power. amazing. i like it. never gonna happen. with tripadvisor, finding your perfect hotel at the lowest price... is as easy as dates, deals, done! simply enter your destination and dates... and see all the hotels for your stay! tripadvisor searches over 200 booking sites... to show you the lowest prices... so you can get the best deal on the right hotel for you. dates, deals, done! tripadvisor. visit tripadvisor.com cheryl: congress headed for a showdown over the food stamp program and whether or not recipients should have to work to get benefits. it's a fight that could kill the 800 billion-dollar farm bill. william la jeunesse with more from los angeles. reporter: how are you. the impasse is this, the house version of farm bill requires food stamp users to work. the senate doesn't. when

potential high noon moment tomorrow, we have fed jerome powell.ck against president trump. the market is on pins and needles, we'll be right back. we have got a problem. a few problems actually. we're overproducing, overcrowding, and overheating. we've got aging roadways, aging power grids, ...aging everything. you're kinda bumming me out clive owen. no, wait... it gets worse. we also have the age-old problem of bias in the workplace. really... never heard of it. seriously? it's all over the news. i've heard of it. ahh. the question is... who's going to fix all of this? an actor? probably not. but you know who can solve it? business. that's right. the best-run businesses can make the world run better. because solving big problems is what business does best. and doing good is just good business. shhh! sorry. so let's grow more food, with less water. and make healthcare, more healthy. it's okay, i've played a doctor. what have we got here? let's take on the wage gap, the opportunity gap, the achievement gap. together, we can tackle every elephant in

and the president is stepping up his criticism of federal reserve chairman jerome powell. >> details from our own hillary vaughn. >> good morning lauren and cheryl, fed reserve chair jerome powell has been in a seat over six months before already in the hot seat the president saying in an interview with with reuters he's not thrilled with the decision to hike interest rates are. the sharp words coming from the white house l follows two interest rate hikes under powell as tenure of chair. he thinks central bank should be accommodating and feds should do what is best for the krkt but wouldn't say if he's happy with the fed pick saying he'll decide what he thinks of powell also in the interview the president giving a an update on his effortses to try to convince the turkish president to release pastor andrew from custody saying he thought he had a deal with furyky when he convinced israel to free a citizen detained in their custody. the president telling routhers, quote, i think it is very sad what turkey is doing i think they're making a terrible mistake. there will be no confessioning

he told reuters that jerome powell is raising interest rates. he is not thrilled that he is raising rates. trump appointed him last year. trump said the fed should do more to help him boost the economy. now candidate trump criticized the fed for doing exactly that and keeping interest rates low to help president obama. >> we have a fed that is doing political things. this janet yellen of the fed, the fed is doing political. by keeping interest rates at this level. >> now president trump wants the same easy money policies for himself. the fed did not comment. historically, the presidents do not talk about the fed. it works independently from political influence. powell reaffirmed that issue last month. >> we do our work in a strictly non political way based on detailed analysis which we put on the record transparently. we don't take political considerations into account. >> the fed has carefully raised interest rates to keep the economy from overheating. experts worry it may be overstimulated by government spending and tax cuts. >>> breaking over

going back to a tradition 30, 40 years or more, the president very critical of jerome powell frustrated with the raising of rates, and worried it might hurt the economic recovery which the president views as the agenda here at the white house. >> amman javers at the white house. will his tough rhetoric impact the fed's next move. if they start hiking are we in as much trouble as trump thinks opinion. >> first off, always great to have you on. >> i apologize >> i'm right here. i've been here the whole time. >> will it affect the federal reserve decision absolutely not there's no way it affects their decisions. the fed has been extraordinarily transparent. they will act to the extent data suggests they should act by the way, not to get too political. president trump criticized the fed for the opposite reasons when he was candidate trump. this is a long term gain they should do what the data says >> that's the point. larry cuddler was on the air friday saying, they're crushing it i agree with you, there's very little chance the fed acts on this. >> how would you know? >> how would you know

certainly ones out there that need to be kind of remedied as well. >> meantime, the fed chair, jerome powell, speaking next hour. monday, trump said he was not thrilled with the fed under powell because of the raising of interest rates. he says it can hurt the economy. the president's comments, a lot of people looking to see if they had any impact. will this potentially have impact on powell's speech today? what are you hearing? as well as maybe an impact on a rate hike in september. >> sure, we'll take the rate fik first. the financial markets are already pricing in what's probably a knee certainty of a rate hike coming in september. just a modest one though. a range of about just a quarter of a percent. the markets are already expecting th expecting that jay powell and his fed are going to move to normalize or raise interest rates a little more. because the economy is doing somewhat better. the issue about whether or not the fed is independent, that's something that jay powell may address during his re, marks. but it's not something he's likely to dwell on. it's the nation's central bank.

i agree with jerome powell. i think he is a concise communicator.lly think that the new he has of just staying as it is and dots,ng the importance of stars is refreshing and adequate. nejra: anything to add to that? james: i completely agree with christian. it is all about middle ground. if you are look -- to look at the potential costs of a single policy path, you need to win that against the potential weigh s -- way that -- that against the potential benefits or costs of another path. dovish,ubt, you are because that cost less. i think that is a short-term misjudgment, because it is easy hike inf you like -- the markets and economy react badly quite quickly, you can say i made a mistake. point.that's a good cost of being dovish. it brings us neatly to the boj. we got some headlines saying that the boj lifting the size of sum of its september jgb buys and limit purchases. >> i think this will continue. if the fed moves ahead -- we have all reasons to believe it that they will because the u.s. economy looks indigent. we have an -- in good shape. we