how did you respond to what jerome powell said? >> no, that's excellent news because the consumer just wants some clarity on where interest rates are. the real narrative on housing, i have gone through several cycles over 30 years, and i will be honest, i have never seen our industry, our company, our peers, and the way tripoint is positioned, to meet that unmet demand of the millenials and aging baby boomers. having that clarity around interest rates is definitely going to help the consumer make that buying decision, sort of get off the fence. that is welcome news, as we look forward to the future. but the bottom line, home builders really haven't met the housing needs since the great recession. it's due to a lot of supply constraints, and actually, as i look out long-term for our company, i can't see -- i see a very bright future and a very clear picture of the demand picture, both in the millenials and baby boomers going forward. liz: why has the stock struggled so much every single year even though we have been in a ten-year ex

the markets, us stocks surge, enjoying their best day in eight months as federal reserve chief jerome powell signals the cycle of interest rate rises could be coming to an end. as you can see, the gains orjapan, but mixed elsewhere. —— the gains forjapan, but mixed elsewhere. let's return to the argentine capital, buenos aires, where leaders of the world's 20 top economies are gathering for this weekend's g20 summit. for global business, it's all about two of them, us president donald trump and chinese president xijinping, who are due to meet on the sidelines to try and resolve their destructive trade war. this year, the us has slapped import taxes or tariffs on almost half the products it buys from china, goods worth $253 billion a year. and president trump has threatened to put tariffs on everything else if he doesn't get a deal he likes this weekend. china has responded with tariffs of its own on the vast majority of us goods. it imports worth $110 billion a year. notice it's a much smaller figure, the us runs a huge trade deficit with china, in other words it sells a lot less than it buy

jens, fed chair jerome powell just finished speaking at the new york economic club.ell us more about what he had to say. jens: well, overall he is quite upbeat when heooks at the current economic situations in the united states. there are no signs of a recession on the horizon yet. and at the same time, also, inflation does not seem to be too high at all. and that all sounds pretty well, but maybe just one comment to the debt situation in the united states. we see record levels of debt, and that is true for consumers, that is true for corporations, and certainly that is also true for the government. christopoph: so the fed,d, quite concerned about financial stability, yet the u.s. economy seems to be in good shape. what does this assessment mean for the federal reserve's intention to further raise interest rates? jens: it still seems pretty likely that we see the fourth interest rate increase at the last fed meeting in december. it would be the ninth interest rate increase since december of 2015. and that's the important thing. fed chairman jerome powell mentioned th

we will hear from them now that we heard from jerome powell yesterday. guy: is the market assuming neutral is closer to 2.5% than 3%, that seems to be the channel, neutral may be in. why is the market in the bottom end of that range? >> i am not sure it totally is. jerome powell has given himself more room to maneuver compared to the room he gave himself early last month by saying they were a long way below neutral. if you look at what he said, he said we are just below a reasonable range and the reasonable range is 2.5%-three .5%. -- 2.5%, 3.5%. is important what happens in the margin and jerome powell has given himself more room to maneuver at the margins. if wage inflation really takes off in the next year, and we see inflation going up rather, he has left himself the opportunity to go as far as 3.5%. so far, he has with his words given himself more room to maneuver, to pause sooner rather than later. what we sawnk yesterday necessarily means that people took the neutral rate at 2.5%. but i do agree that, if you look at the implicit tightening futures

few inutes topping your news, president trump stepping up his attack on federal reserve chairman jerome powellet's get to tracie potts in washington with all the details on another powell put down >> exactly in fact the president tells the "washington post" that he's not even a little bit happy with jerome powell saying he's way off base on some things, blaming the fed for the volatility that we've seen in the markets and for what's happening at gm, for those plant closings president trump taking no personal responsibility for that saying he blames the federal reserve, their rates, their policies we could see another rate hike this month as a result of what's happening in the economy recession, president trump says he is not worried about that, but he's concerned about gm closing those plants, especially in ohio where he promised more jobs the president blaming gm's ceo for that saying he's disappointed that the united states bailed out general motors and now saying this is the thanks we're getting he is considering cutting some subsidies to gm, the government money supporting them may be goin

can jerome powell say something like that too, please?e can say it whether or not it is true, the economy is entirely too complex and what the fed is trying to do right now is wholly unprecedented. we have never seen the kind of liquidity pushed into the global economy in the wake of the financial crisis. we have never seen anything like that. now we're trying to go from this one in history first time ever trying to go to something more normal. for anyone to say they know how this will pan out, i find it highly unlikely. charles: todd, by the same token, coming from wall street, carlyle, jay powell has unique perspective than other fed chairman have had in the past. he understands even power, the power to jawbone the markets is unique gift and unique power very few have but his position does. >> you know, charles, good afternoon. we're looking at this all wrong. the fed has never made the right decision. one of the big problems we have they're too concerned about the academia part of putting money in the system, rather than letting free m

>> you are seeing jerome powell be quite a swashbuckler.ld not describe a central banker in ways such as that, but he is really finessing it. they are on a mission. they need to get to normal in a fair amount of time. oute's a lot of noise there. trade war issues are weighing on the market. in the dollar has actually been impacting u.s. companies. he just talked to the dollar down. that allows boon the fed to keep on its mission. he gets mywhenever attention, a gets yours. >> as much as i would like to disagree with my esteemed friends over here, i think it would be very inconsistent. when the fed is very low, the mantra was "we would rather air on the side of caution. we do not want to upset the recovery." now, we are all concerned that the fed is going to go the other way and be much more aggressive than they should be. they are supposed to pay attention to the inflation numbers, they are supposed to keep on going on this path. they are not supposed to pay attention to short-term things. supposed to get to the mid-3% level. out there many

. >> he said i'm not even a little bit happy with his choice of jay, jay being jerome powell. >> as always, the decisions will be designed to keep the economy on track, in light of the changing outlook for jobs and inflation. >> about a meeting with putin at the g20 meeting to take place in argentina and he said this. quote, maybe i won't have the meeting. maybe i won't even have the meeting. we're going to see. >> he did not like the aggression that he saw in the black sea over the weekend. >> the president is again questioning the agency's high confidence assessment of the crown prince ordered khashoggi's murder telling "the washington post" maybe he did or maybe he didn't. he denies it. >> that audio intelligence of the killing of jamal khashoggi, have you heard that tape? >> no, i haven't listened to it. and i guess i should ask you, why do you think i should? what do you think i'll learn from it? >> you are the national security adviser. you might have access to that sort of intelligence. >> how many in this room speak arabic? i'm trying to make the point that everybody that says list

by jerome powell's comments, the biggest gain in u.s.tocks since march failed in asia to come through, but has done well to boost european futures here and in the u.k. take a look at treasuries. is real actually -- action in currencies and treasuries, but look at the u.s. 10 year yield. just coming down, 3.02. yesterday, we were trading up to 3.07 at one point. two words from jerome powell, knocking five basis points off the 10 year yield. anna: nicely summarized. let's get more details on the market reaction in asia and the stock market. screen,eft of the gmm we have to movers in the equity market and in asia and you are right that they are fading, but they are there. we see positive moves on the equity market. as you rightly point out, how long will the powell put be sustained or if that is what we should call it, now -- and how long could it be sustained? morestocks got a boost up than 2% yesterday. today, futures look more muted. we saw emerging-market fx as a result of powell's comments and let's focus on the u.s. ten-year. here,is

blaming jerome powell for the selloff. factory closures. ,nd trumps dinner date president trump and xi jinping meat. meet.kudlow -- larry kudlow there is a good chance of the deal. >> welcome to bloomberg daybreak. tiffany is out. .t was ok on the earnings alix: it was ugly. japan comparable sales were up .ust 2%, versus 9% the u.s. coming in at 5%. >> the chinese were up over estimates. alix: gross margins were up. anyway, you can get me that christmas present. the take away from yesterday is the markets did not reverse the rally on monday. that was the takeaway. s&p futures up by a 11. euro-dollar flat. there is not much market movement. the 10 year yield is 3.05. up,ct bidders are showing so we will see how we handle it going forward. crude not going anywhere. it's all going to be g20 for whatever asset class. david: it is g20. now it is time for bloomberg first take. we are joined by peggy collins. and by ira jersey. we have to start with the fed, with the president and the fed, because president trump said in not even

as we mentioned, f chair jerome powell is scheduled to peek. investors wl be looking for clues on the pace of future interest rate hikes. the l.a. auto show is under way with a focus on global ses growth. we find out if the weak stretch hn the housing sector extend intoed october w the release of the home sales report. that's what to watch for wednesday. >>> meantime, consumer confidence edged lower in november for the first time in about five months. as americans apparently felt less optimistic about muchmy of the eco and how it's going to grow in 2019 and their incom. prospe even with the decline sentiment is still near historically high levels. >>> consumers opened wallets foe s on cybermonday. according to adobe, the total online retail sales reached just under $8 billion, slightly more than what was expected. that number though is nearly 20% higher from a year ago. >>> now that pecybermonday something over, today is giving tuesday. a day devoted to donating to different charities around the globe. last year a record $300 million was raised

adviser to the president on all things economy, it is the president's fault if he doesn't like jerome powellell is not pursuing the policies that he would have liked to have seen put in place. here is the issue, i think. is the president right that the fed is making a mistake? i happen to agree with donald trump on this. i do believe that the fed has been way too tight. they are raising interest rates way too quickly. one of the problems that the fed has is this dual mandate. it should not have the mandate of getting to full employment. the way to get there is by having price stability. if you look at what is happening with the price of oil, commod y commodities, those are falling in price which is an indication of slight deflation and not inflation. >> here is the counter argument and this comes from a fellow republican economist. he was chair of the council of economic advisers under president reagan. his argument is that powell and the fed are doing the right thing by increasing rates. when we have the down turn it will come, that will give the fed more ammunition to fight it by lowering

powell, jerome powell will speak in about ten minutes. we're going to carry it because this is a very, very important speech. regrettably my time is up but neil, it's yours. neil: i know with this "fox nation" thing we don't have time to bond and talk anymore. have a good one. we are waiting to hear from jerome powell, the fed chairman. we always are looking for these signals we might get out of the fed boss, whether he will react to the president's criticisms that he is not even a little bit happy with the guy he chose to lead the federal reserve or respond to market volatility or something to say about the global trade wore, how that affecting things. we do know the fed chairman has been speaking publicly and privately to anyone who wants to hear that he is concerned about what has been happening to asset prices and whether there is the potential they could plunge. by the way not just stocks, he talked about real estate. another reminder there, home sales unexpectedly slid close to 9% in the latest period. there are a lot of concerns we

jerome powell set to speak today.on post article he was questioning if janet yellen can really run the central bank as she is only five foot three inches. using the net long positions are higher as rates are going up. this may not last for long. jpmorgan is saying that these trump attacks in the fed could be evident and could mean a multiyear slide in the future. anna: matt? remember thatmay chart from using it at the top of the show, just fyi. [laughter] i think that donald trump may want the dollar to come down. it's not very helpful to u.s. competitiveness with it coming up so high. this is a chart that shows u.s., and european, and chinese car sales going back all the way to. 2000 we continue to climb -- all the way to 2000. we continue to climb higher. with all the drama around car sales, you can see the trend continues to rise. anna: matt, i am going to go with your chart. it is a great chart. yours a very good reminder of the underlying data on which we are all dependent, of course. that is it for "bloomberg ma

the markets jumped at the head of jerome powell used these two words just below. listen to him say it and we'll talk on the other side. >> interest rates are still low by historical standard and remain just below that level that would be neutral for the

instead he pointed his finger at jerome powell, the federal reserve chairman. this was president trump's hand selected nominee to run the central bank, but trump said that powell is responsible for any softening in the economy. he points to the raises and interest rates at the fed. trump was careful to say he does not think there will be a recession, but that he thinks anything wrong with the economy anywhere is squarely the fed's fault. >> did he acknowledge, he's complaining that interest rates are going up. in the last administration when interest rates were very low, he blamed janet yellen saying he was rigging the system. did he acknowledge that he wasn't had an issue with interest rates? >> he did not. he said, look, one of the reasons the economy is having these cracks is because his trade deals are taking too long to bear fruit. he said give it a little bit of time, be patient with these trade deals, he's busy doing trade deals but he's not getting the kind of backing he needs from the fed. he's very disappointed in powell. he said i'm not even a little

there.k david: treasuries flat ahead of jerome powell. look at let's have a the markets. this is the gmm function, the nikkei up .5%, you take gains -- muted gains following wall street. on the dow was 1.3% from trough to the end of the session, 1% for the s&p. at the moment, a bit of stasis. we are looking ahead to the statement by jerome powell and the minutes from the fomc. data outhe important of europe, and that dinner date as well. i want to talk about tech. have a look at this chart. we have correlation between u.s. technology and chinese technology stocks. we saw this to versions -- gence taking place. that correlation has reestablished itself as we have seen horrible times for u.s. technology. what was over here has gone over places as is in both we see that correlation picking up once more. there you have it. i'm looking at that through etf's. it has been about tech, , anyway, aade pivotal meeting. president trump and president xi jinping meeting saturday in argentina. yvonne: tom mackenzie joins us now from beijing with the latest. for thise preparing right now

find a little comfort there, if you will yesterday's rally coming after the fed chair, jerome powell,aid this at the economic club of new york. >> interest rates are still low by historical standards and they remain just below the range of estimates of that level that would be neutral for the economy. that is neither speeding up nor slowing down growth. >> let's bring in david nelson from bell point asset management and a man who will parse two words for us just below how much did that matter >> that mattered a lot it was a big departure from october. back then he was talking about we were well below for portfolio managers like myself we were looking at maybe another 100 basis points before we hit the neutral mark. they sent out trial balloons in the last couple of weeks neel kashkari from minneapolis, he had said already that the fed needed a pause clarida has been on this network saying he thought we were at neutral. jay confirmed that i don't want to say the fed blinked. i think they read the data and saw they needed to walk it back. >> you're making -- you're making an important p

connell: a lot to talk about, stocks surging after the jerome powell speech. he suggests that the federal reserve could close the pace of interest rate hikes. the benchmark rate is below neutral. different than the position last month. president trump is watching all of this closely before the fed chief spoke, the commander-in-chief glassed him, revealing not even a little bit happy with his performance. we'll see if he changed his mind after powell's performance today. we'll talk about it all. i'm connell mcshane. melissa: i'm melissa francis. this is "after the bell." the dow ending up the day up 618 points. session highs. positive for the month. s&p 500 also joining the dow in the green for november. and nasdaq surging 3% today. but it wasn't enough to turn positive for the month. we've got fox business team coverage. gerri willis on floor of new york stock exchange. edward lawrence is at the white house. we'll start with gerri at the new york stock exchange. >> what a turnaround in sentiment down here i got to tell you. everything was interpreted negativel

. >>> european equities follow wall street's rally after jerome powell said rates are closing in on neutral levels and signals the central bank is ready to slow down its tightening cycle >> interest rates are still low by historical standards. >>> chinese stocks sell off into the close as trade concerns dampen sentiment ahead of talks between trump and xi jinping at the g20 summit. >>> paul polman retires after 20 years at the helm of unilever. >>> and eu brexit chief negotiator michel barnier says theresa may's deal is the only one possible as the bank of england warns crashing out of europe could see the uk sink into a recession worse than the final crisis >>> while we're discussing everyone's favorite subject, theresa may is facing some questioning. let's listen in. >> i feel it's the right deal for the united kingdom >> you also told the house of commons on the 15th of november that if we, the house, don't vote for your deal, there's a risk of no brexit at all could you tell us why you said that and how that could happen >> i said that because some members of the house of commons clearl

kathleen: you are seeing jerome powell be quite a swashbuckler. would not describe essential banker in ways like that but he is finessing it. they are on a mission. they need to get to normal in a fair amount of time. there is a lot of noise out there. that trade war issues are weighing on the market. the dollar has been impacting u.s. companies. strong dollar not good for earnings. he just tossed the dollar down. that allows the fed to keep on its mission. anathan: whenever there is bull steamer, gets my attention. gershon: i hate to disagree with my friends but it's very inconsistent here. when the fed cap rates low, they would rather air on the side of caution -- err on the side of caution. now we are concerned the fed is going to go the other way and be much more aggressive than they should be. they are supposed to be attention to the inflation numbers. they are supposed to give going on this path, not pay attention to short-term and get to the mid-3% level. jonathan: many people out there have pitched this battle between the federal reserve i

so what do you do if you are jerome powell?you raise interest rates to stop these nonbankers, that is what we did in 2006, so i say no, no the fed can make sure they play by the same rules, if there are outliers, you don't raise rates, you shut them down the fed has that power, so use it what concerns me, is the feds will miss the mark in 2006, bernanke could have said we will not why am i so worried about this the housing numbers suggest sales are collapsing right now and they are running substantially behind last year's pace home prices are down 8.9 although there are pockets that are lower than, 7.4 months of supply so sales going down, supply going up, and rates going up that's a recipe for disaster no wonder powell had to change its tune only one part of the border weakness which includes auto, and other stuff pales in comparison to the housing slow down let me read you part of a conference call from an outfit called redfin. since then rising ratings and home prices has caused buyers industry wide. talking about sales decl

back to you. >> thanks very much. >>> so did jerome powell put the bottom in for the market is that jayput in, is the speech the start of the santa clause rally let's bring in the managing director of capital markets at direction investments, and also the managing director with w webbush securities some traders have said it's positioning, some traders got caught short ahead of these powell comments. are you seeing that kind of activity in the funds that you guys manage that take either directional views or leveraged views on the market? >> i tell you what, i saw some performance in funds like consumer staples and utilities this morning and santa claus came to town a couple hours ago with some of the slightly more dovish talk. now we're seeing a rally in some of our bull tech etfs and some of the growth sectors are taking off after some of these announcements. i think that the information that jay powell came out with that seemed to suggest that we're closing to neutral really helped buoy the markets up it's one less bit of uncertainty that traders are looking for. >> does that echo with

over 2%, rising the most since march on the comments from fed chair jerome powell. towel put under the equity market selloff we have seen recently? he moved from saying a long way to neutral to just below. the markets picked up on that because it was in the prepared comments. we see repricing around the prospect for rate hikes in 2019, the markets looking at futures pricing in one rate hiking 2019. we saw a little different reaction yesterday in the bond market. the two-year yield dropped, the 10 year yield barely budged but we are seeing a strong word -- strong downward move in the treasury yield today. manus: breaking news, this time from everything you've got in the house from under the sink to the bathroom. unilever, the retirement. amazing looking at his tenure. 62 years of age and he has been with unilever nearly 10 years. 1, 2009. on january bill pullman to resign. his successor has been named. this is an announcement from unilever. let's quickly look at his performance in terms of his term over at unilever. jewett is the president of one of the big divisions

vonnie: equity indices are higher before jerome powell's speech two hours from now. dataing now, we have some from the first federal reserve financial stability report. we will get to that in moments. first, some housing data. coming in just below expectations. new home sales in october rose to 544,000. the previous month was revised to just under 600,000. it was a negative number, down 8.9%, the effect of a lack of affordability and higher mortgage rates. more on that later on. now back to the breaking news out of the federal reserve. publishing their first-ever financial stability report. jesse westbrook joins us from washington, d.c. what are the key things that jump out at you? jesse: the fed is painting a rosy picture. they are leveraged very low at wall street to cure these firms, but the risks are the same they have been siding for a while. leveraged loans. businesses are taking on debt at historically high levels and investor appetite for those loans is higher than the fed things it should be. there are a lot of warnings that there is political uncertainty, t

i think jerome powell is on the right path. think the federal reserve is going to be hiking rates. the economic picture, broadly speaking, supports that and when you have low unemployment, you have inflation above target, above potential gdp growth, wages that are not only rising but at an increasing pace, that is a clear signal. and clear, clear, clear signal that they need to be hiking. jonathan: would you say the that that came into the front end up the back of those comments? james: that is something we have been looking at this afternoon. we have some positions on that have benefited and potentially things we can do, taking chips off the table. i would look at headlines for the euro-dollar, which was trading at nearly 3.30 a couple of weeks ago. that is down at 3.09, and that is around 1.5 hikes for 2019. it has a constant spread. i think the risks are aggressive in the other direction and that is what i will be looking at. jonathan: kathleen? kathleen: i think that you are seeing jerome powell be quite a swashbuckler. i w

. >>> ahead on "andrea mitchell are reports" the president striking the head of the fed jerome powell i will speak to one of the reporters who spoke to president next right here on msnbc. americans rose up this november and rejected donald trump. more unhinged by that than ever, this president declared war on the rule of law. but you gave democrats the power to hold him in check. a majority vote in the house can impeach him and expose his lawless behavior for all to see. they just need the will. please join over six million americans and together we can give congress the courage to act. then, we can begin building a more just and prosperous future. to severe rheumatoid arthritis was intense. my mom's pain from moderate i wondered if she could do the stuff she does for us, which is kind of, a lot. and if that pain could mean something worse? joint pain could mean joint damage. enbrel helps relieve joint pain, and helps stop irreversible joint damage. enbrel may lower your ability to fight infections. serious sometimes fatal events including infections, tuberculosis, lymphoma, other can

monitoring a conversation with robert kaplan and jerome powell. lots of interesting tangents in this conversation, speaking about trade, jay powell saying he hasn't seen in the data the impact of the terrorists but also pointing -- the tariffs but also pointing out we don't know what that looks like without them either. there is a slowdown globally. he doesn't sound like he has said anything different with regard to the rate path or trajectory, but also covering things like political independence as well, not quite arresting the topic for what the fed is doing but saying the fed does have a legal protection and independence that allows it to get on with his job and mandate. shery: very diplomatic answer, the answers from robert kaplan. he is talking about the strength of the u.s. economy and how that is pushing up the dollar. he is not worried about the financial conditions or equity markets taking a big hit from what the fed is doing, although he is also talking about the potential the tariffs could push up inflation higher. he's talking about her

yes, federal reserve chairman jerome powell helped rally wall street. appeared to suggest the fed may hold the line on interest rates next year. president trump had blamed powell and the fed interest rate hikes for the biggest slump. the do you climbed 6 seven teen points, the s&p rose 61 and the nasdaq shot up 208 points. cvs has completed it's merge with aetna. they expect existing customers to benefit from the expanded services. and ford is shuffling workers. the number two u.s. automaker says more than 2,000 employees are being moved to different flants kentuc plants in kentucky and michigan to meet rising demand for full-size suvs. ford says there will not be any job cuts. the news comes two days after gm says it will cut 14,000 u.s. jobs. >>> a group of jewish americans is suing airbnb. they accuse the home rental company of religious discrimination after it removed properties in the west bank last week. they say they own or want to rent the affected properties. they accuse airbnb of redlining jewish-owned property while letting muslims and christ

trump says he is not even a little bit happy with jerome powell. he tells the "washington post," quote, so i'm doing deals and i'm not being accommodated by the fed. i'm not happy with the fed. they're making a mistake because i have a gut, and my gut tells me more sometimes than anybody else's brain can ever tell me. >>> a check on cnn business now. president trump threatening to cut general motors' subsidies after they announced job cuts and the shutting of five facilities in north america. the president tweeted tuesday, "very disappointed with general motors and their ceo mary barra for closing plants in ohio, michigan, and maryland. we are now looking at cutting all gm subsidies including fur electric cars." the person familiar with the matter says gm is unaware of federal subsidies it is receiving beyond a $7,500 plug-in tax credit which goes to the consumer not gm. after the threat, gm released a statement saying it remains committed to, quote, maintaining a strong manufacturing presence in the u.s., pointing to more than $22 billion in inves

the data confirmed the upbeat assessmentf the economy by fed chairman jerome powell who spoke before the da was release zbld we have 3.7% unemploymen the economy is growing at 3.7% there is gd reason this think we continue in a positive vein like that. he state leased about of the economy right now. >> the government retail report showed strength inau s, department stores and internet shopping. spending also did well if sporting goods and electronic applianc sres. building and garden equipment surged maybe a sign of the effect of recent hricane and gasoline station sales were boostered. that could goway in november because prices come down. would it free up money for consumers to spendlsewhere. jp morgan writing consumer spending in the middle quarters likely benefitted from the sugar rush from the lower tax payments. blt s lfar the downfrom the rush looks manag process better wages and tax cuts look to hp the economy to go to another above quarter of growth. consumers won't read the memo about the slowingil economy u after the holiday shopping season. for nightly business report ste

. >> as we await jerome powell to speak, it's worth noting that global growth estimates have alreadye down a significant amounti amount the global economy is expected to grow at 3.7% this year and next year, down 0.2 percentage points growth in the u.s. is expected to slow to 2.5% next year and in china growth will likely fall from 6.6% to 6.2%. emerging markets are expected to slow down significantly. the imf downward revisions were notable in argentina, brazil, mexico, iran as well as turkey don't forget about europe where growth is expected to cool down as well due in part to political dynamics at play the imf anticipating 2.8% in 2018 down to 2.3% in 2019. this as the uk government unveiled a sobering assessment of prime minister theresa may's brexit deal today, projecting the agreement would shave nearly four percentage points off uk gdp over the next 15 years. take a look at european stocks ending mixed today global markets clearly awaiting jerome powell in the next hour guys, back to you. >> thank you very much. >>> let's head over to sue herera and get an update. >>> good mor

powell, jerome powell will speak in about ten minutes.portant speech. regrettably my time is up but neil, it's yours. neil: i know with this "fox nation" thing we don't have time to bond and talk anymore. have a good one. we are waiting to hear from jerome powell, the fed chairman. we always are looking for these signals we might get out of the fed boss, whether he will react to the president's criticisms that he is not even a little bit happy with the guy he chose to lead the federal reserve or respond to market volatility or something to say about the global trade wore, how that affecting things. we do know the fed chairman has been speaking publicly and privately to anyone who wants to hear that he is concerned about what has been happening to asset prices and whether there is

fed chairman jerome powell warned the u.s. economy is not growing at the same pace as last year he said the central bank is watching a modest slowdown in global growth. >> i think this year has seen a gradual chipping away at that picture. you see a bit of a slowdown. you still see solid growth, but you see kind of growing signs of a bit of a slowdown. it is concerning >> powell also expressed confidence about the strength of the u.s. economy and credited the fed for boosting that growth he said markets should get used to the idea that the federal reserve could hike rates at any time next year >> our policy is part of the reason why the economy is in such a good place now. we have 3.7% unemployment. the economy is growing at 3% inflation is on target there's good reason to think we'll continue, you know, in a positive vain like that. pleased about the state of the economy. >> steve is still with me on the show interesting powell saying that saying we could hike at any time next year. that sounds a bit hawkish to me. >> what ha

a lot of people seem to think, senator that the fed chairman, jerome powell, buckled under the pressure jaw-boning of the president and decided today that he's going to go slow on interest rate hikes. what do you think of that? >> i mean, i think that the president obviously has made statements with respect to the federal reserve in the past, this isn't the first time, a go-slow approach makes solve sense. look at the impact on the markets. i come from an agricultural state. getting loans is a big part of their business. if you want a big economy, continuing to grow at the 3 to 4% range, it strikes me that you have to have a number of things in place, many of which we dealt here on capitol hill. tax reform regulation reform. it was a response by the federal reserve to what they see happening in the economy and probably some concerns about inflation picking up. those are all factors that they take in consideration when they make their decisions. >> neil: senator thune, thanks very much. >> thanks, neil. >> neil: when a former president and his wife who wanted to be president are criticiz

thing with kaplan, fed chief jerome powell, has powell grown more dovish versus his previously hawkish stand on the economy? talk about a false dichotomy involving irrelevant birds of a feather. jerome powell was asked about the economy, that's the interview that started this slow motion train wreck of a bear market this time we had a discussion about the hazards of raising the fed rate too rapidly if you parse every word of what powell said, you too will miss the big picture, which is the context of the picture kaplan didn't ask about inflation or how to ensure the economy doesn't overheat he didn't askabout rising wages. his questions were designed to show that powell was concerned about the worldwide slowdown that's coming here now he's aware that it's causing a tightening that could be more powerful than he previously thought. kaplan's questions i howed him to walk back his comments from october. comments that seemed to be oblivious to some of the more worrisome data out there so many ceos told me how quickly things cooled. they come on to tell me that say something, please warn ho

trump says he is not even a little bit happy with his pick for fed chairman jerome powell. telling the "washington post," quote, so i'm doing deals and i'm not being accommodated by the fed. i'm not happy with the fed. they're making a mistake because -- here's the key -- i have a gut. my gut tells me more sometimes than anybody else's brain can ever tell me. >> jerome powell will speak at the economic club today. we'll see if he avoids any confrontation -- >> no gut references forthcoming from the fed chair. >> maybe not. >>> president trump threatening to cut all general motors subsidies after the automaker announced thousands of job cuts and the shuttering of five facilities in north america. the president tweeted tuesday, quote, very disappointed with general motors and their ceo, mary barra, for closing plants in ohio, michigan, and maryland. we are now looking at cutting all gm subsidies including for electric cars. a person familiar with the matter told cnn gm is unaware of significant federal subsidies it is receiving beyond a $7,5 hit-and-run plug-in tax credit. --

for the first time in several months, jerome powell is a knology the headwinds that lie ahead and thishe case before. if you look at the market pricing of hikes next year, i , ink for the first time think the focus will start coming into play. is that why you think equity markets have taken this as risk on? he was acknowledging the market volatility in october and said that's one of the things we need to keep an eye on. you could have concluded this was a fed that was going to -- it was still some way off and you could send equity markets lower. salman: it's a balanced commentary. withcus came into being the discussion of the headwinds. i think the u.s. economy is starting to slow. the fiscal stimulus receipts next year, that's an important forced to consider. the reason is done so well this year is the fiscal stimulus. that will have a huge impact on 2019. the euro has its own issues that when i see it at 112 i wonder if it will go up or down versus the dollar. is the fed the one that determines the path of that exchange? are both sides failed to move? in which direction and how far?

let's bring in jonathan golub from credit swoos at the economic club event where jerome powell spoke earlier good to have you here. >> good to be here. >> do you agree with our assessment in terms of whether jay powell said something different. >> he absolutely said something different. i'm sitting at the lunch here is what happens he speaks at a certain time two minutes before the transcript comes out and everybody gets it on the phone and the reading and not listening to his introduction and the only thing they care about is he said let's call it what it is, guys we're kind of done here. right, the futures market was saying that we have one in december, one something in the neighborhood of march to june. and then here is the story for next year soft landing any -- it's not like they simply were finished with the hiking cycle. they went from zero rate policy no country has ever gone from zero rate back to neutral and he told you that we're pulling this off. and yes his growth slowing next year of course. but we knew that we were way with above trend because of the stimulus if i polle

i'm jerome powell. i said four hikes. and that fellow agrees with me, on cnbc that liesman you don't know you are so busy looking at the facts you forgot the story >> i know nothing. >> you still think the market -- >> can you believe him >> holding the market hostage as long as he stays in his position >> powell and pence. they don't care about this they care about the stock? >> powell is going to care about it if it gets a lot uglier >> oh, really? really workers are making so much more money than last year 3% how did jeff immel do last year? shame on the workers they keep trying it's ridiculous. how about the people who come out of prison after paying all their dues should they work no why can't we have 3% unemployment why can't we have the worker make more money? i'm not saying the workers should own the menials of production >> there's no reason to think that powell is going to back off. >> he'd better >> you're approaching the they know nothing part two moment, if you're not already there >> the market -- >> he has

it wasn't mentioned yesterday. >> is jerome powell blinking? >> i don't think so. you have a very strong economy. his job is to keep just ahead of it so it doesn't overheat. raising interest rates, but s slowly. >>> ahead, jeff sessions with two words to the administration over his ouster. >> pink slips. a lot of people got pink slips, i guess. >> more now from the former attorney general ahead. >>> and john kerry 2020. the questions and his answer next. >>> the pentagon identified the three u.s. service members killed in afghanistan. army captain andrew ross and michael ammond and dylan eckland. their vehicle was hit by an improvised explosive device. >> he said mom, i'll be okay. i said dylan, if anything happens to you, it will destroy me. he said mom i'll be fine. >> the taliban has claimed responsibility for that attack. >>> police say a body in north carolina has been identified as hania aguilar. >> this is the outcome we feared. we wanted to bring hania back home and alive back home to our community. it hurts. >> police say the body was found in water on a r

. >> those words from fed chair jerome powell sent stocks ripping higher welcome to the "closing bell," everyone the next big question on everyone's lips, will it mean fewer rate hikes than previously expected we will debate that with our panel of experts. >>> and we're also closely watching the next market-moving event this week, the trump/xi meeting at the g-20 summit we'll discuss which stocks are most at risk if a china deal doesn't get done. >> i'm sara eisen in for kelly evans. the l.a. auto show is kick off just as president trump ramps up his criticism of general motors. we'll hear from some top auto executives about the war of words with the white house. >>> plus, from china to the fed to market volatility, what matters most right now to corporate america? we'll speak live with the shell chairman, former dupont ceo chad holliday about the biggest issues facing u.s. companies "closing bell" starts right now. ♪ holiday, celebrate >> good afternoon. welcome to "closing bell." let's get straight to the markets. now comments from fed chair jay powell sending the dow soaring, rally

on that good morning, steve. >> there's quite a debate about the comments made by fed chairman jerome powell change in rate hike policy from the head winds or just a willingness to change if events force his hands? powell says the u.s. economy is strong but that the global economic outlook at had worsened from the upbeat news of 2017. >> i think this year has been -- has seen a gradual skmipping away you still see solid growth but you see kind of growing signs of a bit of a slow dodown. >> there's strong earnings and guidance the u.s. consumer is in excellent shape. powell said the u.s. economy is at a point where it has to go too slow and too fast. krishna guahar write there is may be a hint of policy optionality here though this is very different from signaling a change of tacks. there are brexit concerns, the downdraft in stocks and they reduced the chances of rate hikes not so much this year but next year. december trading at a probability of a rate hike, 76%. that's down from where it was. still a pretty good percentage there banking on that rate hike, and next year may it shows 49%, th

. ♪ charles: federal research jarrell jerome jay powell speaking awhether he would address quote, gradualnterest rate hikes. are we close to neutral? what would his opinions on inflation be? here to break down what he had to say about the pace of rate hikes, first take a listen to what powell himself had to say. >> we know moveing too fast would risk shortening the expansion. moving too slowly, keeping interest rates too low too long could trigger other distortions, higher inflation or distorted financial balances. our past increases have been designed to balance these two risks both of which we must take seriously. charles: here to discuss i have the best team possible to be quite frank with you. former federal reserve visor, danielle dee -- dimartino booth. douglas holtz-eakin and "wall street journal" contributor, jon hilsenrath. this is the first financial stability report out of the federal reserve. four vulnerabilities were mentioned, excessive leverage in the financial system, funding risk, excessive debt, valuations. which one of those are you most concerned aabout danielle? >> bo

i believe investors like this new version of jerome powell.e on the big board 3.9 billion shares. crude oil now at $50 a barrel, the lowest level in a year. gold rose nearly a percent. silver up over a percent. copper rose 3%. google chief executive set to testify next yeek. week. he's decided he's going to lower himself to address the house judiciary committee. he'll have to answer questions about the alarming anti-conservatism in his company. the prospect of regulations seems to be focusing the minds of those in silicone valley. a remind tore listen to my reports three times a day coast to coast on the salem radio network. >>> my next guest here to talk about, among other thingses, google censorship, eapt trust issues and more, congressman matt gates. congressman withi, great to see. let's start with the appearance of the google ceo. i think it's nice that he actually sullied himself by walking into the nation's capitol. what do you think? >> i'm glad we're having this hearing because we cannot allow the leftists out in silicon valley to res