he's even thinking of firing fed chairman jerome powell.ess correspondent christina aleshi has more. >> reporter: a brutal week in the market. dow and s&p on track for the worst december since the great depression, and worth nearly performance in a decade. selling began in earnest wednesday when they raised interest rates. investors were nervous they're weaning the economy off easy money. we had historically low rates for ten years. that helped boost the economy. when interest rates are low, consumers are more incentivized to buy houses and cars, and of course stocks. rising interest rates might have the opposite impact. that's what spooked wall street. add to that the fed chairman jerome powell disappointed investors making it sound like interest hikes are baked in for 2019, and that sent markets lower. adding to negativity, president trump that tweeted thursday that he was willing to partially shut down the government over a border wall funding. even after one of his economic advisers tried to assure the market that short and partial shut

, a jerome powell who stood up to president trump.o you think president trump's criticism had on him potentially, you know, is there a chance that his plan actually backfired and jerome powell went ahead with a slightly less dovish tone than he might have otherwise because he wanted to give the impression he was standing up to the president. >> jerome powell said it had no effect, and i do believe him that it will have no effect. it's not new that presidents kr criticize the federal reserve. george h.w. bush has always blamed allen green span for losing the 1992 election nothing new there. the difference with trump is he's just a little more bombastic about the way he does it. >> a little more bombastic i have to cut you off there. thank you so much for joining us, jim bianco, president of bianco research. thank you for joining us that's it for today. i'm julia tatelbaum. "worldwi "worldwide exchange" is up next. i'm julia tatelbaum. i'm a veteran and the army taught me a lot about commitment. which i apply to my life and my work. at

jerome powell. i've said this in the broadcast before. yellen had learned her lesson is fed chair. one of the reasons that they should have been a superior choice to jerome powell. but now he is hopefully learned his. we will find out over the next two days. because in the fed open market committee meeting, they're going to decide the direction, they are supposed to raise rates again because jerome powell pounding his chest saying he is a fed chairman, it is independent and the president was wrong about rates. the president was right, right and right. and he was right from the beginning. >> is incredible. the president even did a better job forecasting makes the most wall street economists! lou: he knows more.he is a businessman who's built a fortune and preserved it. >> that is correct. and what made it happen, if we have a rate hike on wednesday, i don't think it is certain anymore. they may just hold off. lou: is there any doubt in your mind that the fed doesn't understand now, empirically, looking at these markets, looking at the yiel

jerome powell is there.end it would because it is all about certainty. the market does not like certainty. the market likes certainty rather. when you have a split government that is okay because there is certainty in gridlock but when you make a statement like that where it is going to be 100% that jerome powell is the fed chair that is as certain as we can get and that is a good thing. heather: we will see what happens today, thanks for wearing those shoes again. >> they are helping the nation move forward. todd: it is 53 minutes after the hour. math can sometimes be hard. the little boy tried to cheat his way through homework by using alexa. a patriotic moment during donald trump's visit with our troops, the video you don't want to miss. ♪ america ♪ america ♪ lift me up ♪ on top of the world ♪ america ♪ on select hotels that you can add on to your trip up until the day you leave. add on advantage. only when you book with expedia. ♪ they're all going in the same direction but in very different ways and pam

president trump angry at the fed for raising rates have been asking dwirds if he has the power to fire jerome powell. the nominated powell to post in 2017. on christmas day the president continued his battle with the fed, though perhapsd softe his attacks up a bit. >> i have confidence but i think it will straighten. they raising rates becausehey think t economy is so good. ut i think that they will get it pretty soon. >> reporter: the president's criticism of powell and reports of the firing are among the foorks underpinning the recent market selloff. after that overall and the president's administration, a trade war, a government shutdown and nears o the fed that raises rates too much in the face of a weakening economy. one problem for president trump is is that his problem is technically not just with the fed chairman. of the five members of the board of governors four were nominated by president trump and all approved by the senate. all voted for theate hike in december. comments comments of kmarnd hassette the president's remarks aren't the beginning of the truce between president trump and the

i believe investors like this new version of jerome powell, the fed chair. volume on the big board picking up to 3.9 billion shares. crude oil down 2% now at $50 a barrel, lowest level in a year. gold rose a percent. copper rose 3%. >>> google chief executive sundar pichai set to testify next week. decided he will actually, lower himself to address the house judiciary committee. he will have to answer questions about the alarming anti-conservative bias in his company. he failed to appear at a similar hearing before the senate intelligence committee back in september. the prospect of regulation seems to focus the minds of those in silicon valley. a reminder to 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 things, google

the white house says jerome powell's job is safe. l of economic advisors safe andsays it is they're trying to calm the markets after bloomberg said president trump had asked about firing powell. global news 24 hours a day, on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i am courtney donohoe. this is bloomberg. caroline: thank you. a sound endorsement from the white house for jerome powell. analysis.s 100% safe in his job, do we buy it? >> we buy it until it is not 100% safe. i do think that donald trump tried to reassure the markets with the deflected the idea that he would discuss firing powell, even though our reporting from four sources says he was discussing whether he could in the white house a few days ago. for now, i think jerome powell is safe but that is not to say a month from now he will fall out of favor and the subject to donald trump's attacks. caroline: this is on the back of if we see further falls on the stock market. what he sees as a measure of his own s

jerome powell is expected to announce another interest rate hike of one quarter of a percentage pointpresident trump warned him against doing that. not supposed to be the case. we will have a friendly debate of what the right move is. you're watching "velshi & ruhle." ♪ it's the time of the season for loving ♪ for a limited time, $50 for them $10 for you. applebee's. now that's eatin' good in the neighborhood. in baltimore, a community sees new life rise from ruin. in southern california, a small family business becomes a beacon of hope. in seattle, people with disabilities create success and shatter barriers. day in, day out, people prove that when we work as one, we have the power to create better futures for us all. >>> welcome back to "velshi & ruhle." right now the dow -- let's take a look. all right, all right. up. up all morning. 250 points. we are waiting for the fed to make a decision on interest rates. that should happen within about 20 minutes. now, the fed is widely expected to raise a key interest rate for the fourth time this year. by one quarter of a percentage point an

jerome powell pointed out that we saw this year the best economic growth since the financial crisis,nd we are in the midst, or at least right in the longest expansion phaases that the u.s. economy has seen in history, and therefore the federal reserve has the feeling that two more rate hikes in 2019 are justified. christoph: jens, this rate hike has widely been expected. why is the dow still dropping more than 300 points? jens: well, i would say that we pretty much dropped like a rock. we were up by about 300 points before the news of the fed meeting broke, and then we dropped by almost 400 points here on wall street. i would think that we have a couple of factors going on. one is that a lot of market participants were hoping that we might even only see one more rate hike next year. and that the federal reserve is not saying that they are going to be more data dependent, but they are clearly hinting at two more rate hikes next year. that seems to be a bit more aggressive than the market expected. christoph: and i just checked, no new tweets, but surely president trump is not happy ab

-- departure, jerome powell. positioning ahead of trading in the holiday period is the type of thing that will be driving matt chart that you have got showing the amount of trading people take -- driving that chart that you have got, showing the amount of trading. nejra: you mentioned there, and of course, we hear it will go past christmas. a lot of the stuff i have been hearing over the weekend suggests it is not the shutdown itself that is concerning investors, but all the implications. we know what happened in 2011. could we see a repeat of that scenario? simon: absolutely. there's a lot of brings mentioned here. there is saying economic -- sane economic response and difficult politics on capitol hill. it is starting to impinge on markets on the real economy and both sides step back. or do they take a purely political standpoint to shift to 2020? you start to see collateral damage in markets across the economy from a protracted, you know, standoff, which does not do anybody any favors. nejra: simon french will

fed chairman jerome powell explained the decision at his press conference.r the past year, the economy has been growing at a strong pace. the unemployment rate has been near record lows and inflation has been low and stable. all of those things remain true today. since the september meeting of the fomc, however, some crosscurrents have urged. those crosscurrents include slower global growth and a downturn in financial markets. as a result, those who set monetary policy are now projecting two rate increases next year, that's fewer than the three they were predicting when they last met in september. and as for the pressure from the fed's loudest critic, president trump, well, jerome powell said political considerations played no part in their decision—making. we're always going to be focused on the mission that congress has given us. the mission that congress has given us. we have the tools to carry it out, we have the independence, which we think is essential to be able to do ourjobs in a nonpolitical way. and, you know, we at the fed are absolutely committed

i do think he is going to soften, jerome powell.everything else that's going on outside of our own borders. i kind of think the president should stop tweeting about it. >> david: although he is right when he said a couple months ago, "be careful, fed. don't raise rates too much." he was right. >> melissa: he's right, i agree with him, i just don't know about the tweeting. >> katie: the president has been very critical of the fed, saying they kept interest rates unnaturally low, which, in turn, created all these bubbles for president obama, to help him politically. is the president asking jerome powell to do the same thing for him? >> katie: that's why we should end the fed. >> david: are we all for that? four people? 4 out of 4 people? >> katie: i would throw back to david come and say you say it's not a good time. but when the fed is managing all these different arenas of the economy, is that every good time to try and change anything? people would argue that the economy has been high on free money for way too long. >> david: good

does jerome powell need to tighten up his language, joe terranova? >> you want a yes or a no? oo late already. >> i think he already did. >> jay powell doing a good job >> yes and he does need to tighten it >> i think people need to stop being crybabies and tough it out. >> i agree with that >> thank you >> there we go i've been dying to use that. >> i'll meet you at recess after school, johnny >> it's the same as when the cat person said -- the caterpillar person -- >> the cat person -- >> the high water mark both of them wished they could have pulled it back. powell wishes he hadn't said on autopilot. autopilot will not make any of these statements going forward it will be we are data driven not autopilot. >> that was a statement he made at a panel or wasn't even an official event he learned the hard way that words really matter. to reiterate, he thinks the bottom could be near for equities it could be near 50% chance of a rate cut -- rate cut -- in 2019 but be careful of the debt markets. you have a slowing economy compared with high yield growth. a lot of debt could portend

federal reserve chairman jerome powell will increase rates by accorded point and this would be the fourth increase this year. we know what happens when this happens, this despite donald trump urging central bank to hold steady and avoid rate hikes, the president believes the increases are undercutting efforts to boost the economy, stock market futures are trending toward positive gains as investors await the announcement. donald trump sticking to another promise, advancing our nation's interests in space, the white house ordering the defense department to create a new us space command aimed at consolidating military space operations and defend american assets. >> a new era of american leadership in space has begun. it will develop the space doctrine, tactics, techniques and procedures that will enable war fighters to defend the nation in this new era. shannon: there working to establish a new branch of the military called the space force, by 2020. the vice president making the big announcements as space x prepares for a historic lunch but it never happened, the company postponing their mi

he also said the same thing about jerome powell. why is that interesting? well, because so many of the market fraught right now has been about the potential firing of jerome powell, the fed's independence. when pressed on this, he said that his job is safe. as we know with the white house, the only one who can determine that someone's job is safe is the president of the united states, and we have not heard from him. finally, hallie, on the shutdown, he indicated -- kevin h hassett indicated there wouldn't be long-term effects of a government shutdown, saying for at least a couple of weeks there's no effect to the overall gdp growth. that's an indication the white house is prepared to go of longer on a potential shutdown, and it could be weeks if not even months. hallie. >> and, hans, in your conversation with what we call the stakeout of the driveway there with kevin hassett, he seemed kind of relaxed it sounded to me from reading it. >> reporter: kevin hassett is always upbeat and cheerful. i don't know what he will look like if he has to deliver bad news,

there was a word that jerome powell was tone death.john williams made those comments, the dow surged 400 points, it quickly gave back but that reaction shows just how addicted the market is to the fed. if i can come out and kind of calm -- is the fed can come out and kind of calm down be marketed it, that shows. arestors have not really dissipated in the bull market of the past decade, so if we do start to see folks kind of move money back into the market, especially after the declines we have seen, a buy low, sell high phenomenon, that can help as well. host: there is another publication talking about the a spat withving jerome powell, talking about possibly even changing him as the head of the fed. are you hearing similar things? guest: i saw the bloomberg report this morning, talking about how president trump has talked about the possibility of removing jerome powell as chair. whether or not he can do that remains to be seen. i mean, i think the lost days that the president can remove a fed governor for cause, and the chair is consi

his aides are trying to set up a meeting now between him and jerome powell to maybe clear the air so he can get a better sense of what the fed's policies amount to and that meeting could happen as early as january and february and perhaps that can make a difference, too. >> it seeps like wlooef been talking f -- we've been talking for a long time about the president's twitter habits. maybe this is the issue that puts him over the top. >>> now to washington where a different kind of uncertainty over the government shutdown is gripping congress. both the house and senate second to gavel in today, even though no votes are scheduled. and when and how this ends is really anybody's guess. one thing we do know, both sides remain very far apart on border security, what it costs and maybe what it even means. even for president trump, it seems like the specifics on border security are actually starting to look like they may be evolving. remember this from the 2016 campai campaign? >> we are going to build a great border wall. we will build a great, great wall. >> we're going to build a wall, d

the stock market is with him on that one when it comes to jerome powell. steve mnuchin quoted trump and says he disagrees with the fed but he never suggested firing the chairman. this might be off the table. christine: that was sophie on wall street, thank you. -- thank you. the pan-european exchange operator, euronext is in talks to acquire borders. they are seeking the support of the board of directors. they are representing almost half of outstanding shares. eueuronext operates s severall europepean exchanges. it has secret derivatives and shipping attractiveness. -- attractives. this carmaker has alerted german authorities over mission software in their diesel cars. some of the cars they recalled may still have this software. they have spent more than 20 billion euros on car buybacks in the u.s. after the aftermath of dieselgate. the 2 billion euros that the carmaker is expected to spend on dieselgate next year is expected to happen. what was said it was be without his reindeer? any potential santa claus can also keep up with the times. he can equip hi

much of his public has been directed towards jerome powell. we understand from sources that right now aides are working out on a possible face-to-face meeting between the two men. the belief is not only would it ease tensions, but also potentially boost the stock market, as well. there is no specific date set. it would be next month. of course, the economy likely a top priority for the white house. we shouldn't forget there is a government shutdown going on right now, a sparlpartial shutd there is still no end in sight thmpt preside. >> 800,000 people enough, some of the folks affected are people who work on the border. boris sanchez, thanks very much. still to come, one of the president's closest allies on the hill says there has been little progress in ending the partial government shutdown. democrats set to take control of the house in just a few days. they are promising investigations. president trump calls that harassment. every road in the world is now an information superhighway. (phone ringing) and the car has become an accessory to th

i don't know what jerome powell's neutral rate notion is.west point in the dot plot. we know many more doves than him inside the fed. secondly, the idea that there is a lack of consistency between expecting some rate hikes and thinking they are pretty close to the end of the cycle, i would think is the correct one. you would have various governors with various notions of the neutral rate, but most importantly, the fact that the pcerevised down the core may be interpreted as a major dovish signal, consistent with the fact they are expecting two hikes next year as opposed to three or four. beyond that, the fed does not react to inflation. it would be too late if it was. it has to look at forward-looking indicators that determine inflation down the road. one of them is the output gap. the other is what is happening in the labor market. these are not necessarily as lagging indicators as some analysts would like to say. the forecast equation of any fed governor would have these things on the right-hand side. they are suggesting 3% wage growth. we

hadnder if jerome powell held, that would have raised other conversations.about him being coerced by the president. that's equally dangerous, right? kathleen: it's dammed if they do, dammed if they don't. i talked to bill dudley. he said the thing was, this was not a close call. it was easy for the fed. i said, did politics into her into this? he said it was not have to think hard about it. the question i dismissed completely at first -- know everyone is taking it seriously. the president cannot legally fired the head of the federal reserve. the fed was created by congress. the constitutional power to coin must -- coin money and regulate its value -- if you want to take it to his endless level and gave protections,e senate confirmation and six terms. this is interpreted as the courts as eliminating the president's authority to dismiss appointees, to give them greater independence. there was a ruled by president roosevelt, and sec commissioner who is forced to step down, and ultimately rejected. it seems like luckily, there's not too much ground to maybe that

debra: asian stocks have fallen after jerome powell signals he saw little threat to the economy from urmoil of financial markets. after raising u.s. interest rates for a fourth time in 2018, powell signposted caution about the path and destination of any further hikes. expect to ratew increases next year, down from the three projected in september. alan greenspan says the economic outlook is being affected by the current state of u.s. politics. >> i'm very much concerned about the political system. i was in u.s. government for almost 20 years. i've never seen anything remotely close to what we are observing today. hasink the economic outlook been significantly affected by politics. debra: in an exclusive interview, the ceo of bank of america weight in on the fed's decision. get think it's right to them out of the qe thing. rate structure is a thing they can deal with. i don't think it's that big of an impact. when they stepped up the last purchases, the 10-year was over three. now it's down to 280. that's going on, they are holding the part that they will put off as a smart part of th

will jerome powell factor this into his decision. >> standby. before we get into what the president wanted and how he inserted himself into this whole conversation, of course the fed supposed to be impartial, what about real world consequences for folks saying i've got a lot of credit card debt, things of that nature. what should they know? >> that just got more expensive, credit card debt. mortgage rates less so. something with an adjustable rate, credit cards, that just got incrementally more expense. i think jay powell will be careful here, too. just because the president said don't raise rates, no president likes rising rates at any point in time -- >> alan greenspan said do you run for cover? >> he said if stocks stabilize and then go higher, run for cover. he also said the bull market was over. so he was quite cautious here. but i think we have to be very careful and jay powell has to be careful to say we recognize the economy is slowing here but if he's too cautious and too pessimistic, everybody will be very fearful and you can have a si

after the fed decision and jerome powell's press conference, we dropped on the 10 year.ndle right now, hovering around that level and in terms of how markets might move, these are the futures, we could see yields move a little higher. yesterday, we saw 10 year yields track the 10 year treasury yield, bund yields, gilt yields. let's check on the markets in asia with juliette saly in singapore. i have dressed in theme for the markets. asian stocks had a 21-month low. the australian market closed at a two-year close -- low. the nikkei, off over 1%. concerns about u.s.-china trade tensions weighing on chinese stocks. the csi 300 closing lower by one and 2%. we have -- 1.2%. we are on track potentially for the worst month for asian stocks in history. the worst weekly loss we have seen since october. let's look at some of the foreign exchange moves. we did see the japanese yen rise earlier in the session, but giving back some of those gains. the dollar, stronger against the yen. victim had touched a three-month high against the dollar. the korean won, the frontrunner. won stre

also a clear rebuke to fed chairman jerome powell 's economy killing monetary policy. the fed today ignoring the presidents warnings to not raise interest rates. and raise rates of course, he did. sparking a major selloff. how big a selloff? almost 800 point reversal in the dow. then the fed chair, audaciously claimed he is guiding the economy with a steady hand. >> i think that the run of the balance sheet has been smooth. and has served its purpose.i do not see us changing that and i do think that we will continue to use monetary policy which is a rate policy is the active tool. lou: to analyze all of this means for working men and women, our middle-class, our small business and big business. with us tonight, chief economist, bill lee, s&p portfolio manager, aaron biggs. the trump administration making plans immediately withdraw the 2000 u.s. troops stationed in syria.after reports surfaced this morning about the possibility of withdrawal, president trump appeared to elude to those reports and suggest they were correct. he tweeted this. we are defeated isis in syria.

hiked its benchmark interest rate up from two and a quarter to two and a half percent its chairman jerome powell cited the robust economic situation in the us noone is going to reason for the move very much for being here two thousand and eighteen has been the strongest year. since the recovery since the since the financial crisis and during that period we've got low unemployment and strong growth and inflation still remain just a touch below two percent so that donald trump was unhappy about the interest rate rise he thinks the hike will negatively impact growth but the federal reserve makes its own decisions on monetary policy. you know political considerations have play no role whatsoever in our discussions or decisions about monetary policy we're always going to be focused on the mission that congress has given us we have the tools to carry it about we have the independence which we think is essential to be able to do our jobs it nonpolitical way and you know we are we have the fed or absolutely committed to that mission and nothing will deter us from doing what we think is is the right thin

and that could consume the same jerome powell that president trump blames for the worst december on the stock market since the great depression sbrmpt dh they a depression. they are raising interest rates too fast. they think the economy is so good. >> the same jerome powell that president trump reportedly wanted to fire or was considering firing or asking if he could fire but recently realized that he does not think that he can. the trouble on wall street could mean another casualty in the cabinet. a source telling cnn that steve mnuchin could be in serious jeopardy with trump after mnuchin tried and failed to calm wall street with his call and the bizarre statement that he put out afterwards. alison kosik has the latest at the new york stock exchange. >> i'm seeing red arrows. the rally that the dow had quickly fizzling out. it is interesting to see the downward momentum creep back in as we see the dow and the s&p get close to bear market territory, a drop of 20% from the highs. there is a lot of pessimism in the market, political risk is now added on to the list of worries for

. >>> yet fed chair jerome powell announced an interest rate hike.et the decision sent the markets tumbling, or you could just say the volatility continued, and volatility is norm at. what do we expect today? kiersten nielsen will arrive on capitol hill to appear before the house judiciary committee. one of the big topics sure to be brought up, the handling of migrants. a 7-year-old's body is expected to arrive in her hometown of guatemala today. that's where she will be buried. she died when she was in our custody. we have to ask the question, why, and make sure it never, ever, ever happens glen again. i asked every parents on that committee today, i ask ivanka, first lady melania trump, police care about them. they are our children, too. the. they are our children, too [ load crunching ] [ whispers ] this is the loudest snow ever. voice-command navigation with waze wifi wireless charging 104 cubic feet of cargo room and seating for 8. now that's a sleigh. ford expedition. built for the holidays. and for a limited time, get zero percent financing pl

do you believe jerome powell's job is on the line?aving a very nice christmas with his family. they are structurally independent from the president. the treasury secretary can more or less try to massage the words. he doesn't care. he is interested in the long-termeconomy. at 51 after world war ii, we set the fed up for this situation. the fed chairman can enjoy christmas with his family and ignore what the president is saying. >> thank you so much. happy holidays. >> you, too. >> up next, special counsel robert mueller is facing a unique legal challenge. a mystery company involved in the probe is fighting a subpoena all the way to the u.s. supreme court. we will discuss that, next. the day after chemo might mean a trip back to the doctor's office just for a shot. but why go back there... when you can stay home with neulasta onpro? strong chemo can put you at risk of serious infection. in a key study neulasta reduced the risk of infection from 17% to 1%, a 94% decrease. neulasta onpro is designed to deliver neulasta the day after chem

and point of fact, she turned out to be wrong, just as jerome powell did.d have been a good fed chairman for this president.because she'd already learned his lesson. it appears, i think we can applaud jerome powell, he appears to have learned his lesson as well. do you agree? >> he softened his tone and since the october 3 statement that he made as you alluded to, at first, initially, he was saying that we are far from normalized rates. meaning interest rates should be closer to three or four percent. at least the historical average given the growth in the economy and now he's walked it back a little bit. i don't think was necessarily becauseof the presidents tweets. lou: i don't either! >> i think he's saying , let's >> i think he's saying , let's do this at a gradual pace. i joined the army after 911, cuz, um, i thought that was what i needed to do. we got our orders to go overseas and i went to baghdad, iraq. we were transporting a bomb sniffing dog to the polling stations. we rolled over two anti-tank mines, it blew my humvee up, killed my sergeant. aft

concerns about jerome powell.ff bothered me a little bit. the market is if not as relieved as you are, what of the u.s. dollar? we have strong comments coming from a key club aid, saying he is 100% safe and the job. does that mean the dollar goes lower as they take their foot off the gas in terms of rate hikes, or are we expecting two? bob: it has been more about the other currencies. the index has moved at about a 1% band. we have gone about 1% above and below that for quite some time, and yet you are seeing the yen euromely strong, the extremely weak on the back of comments that risks are to the downside, we have brexit. it is more about the moves and the other currencies short-term. that could change at press conferences from upcoming fed meetings. i would expect a leak -- a weaker dollar, and we need to get the quality in the dollar. caroline: talking about going all to heck, wti crude, a bit of a reprieve today. is there any sort of bottom to the oil market? bob: short-term, we may have hit the bottom but ove

there are several fed speakers do, including jerome powell. it would be useful to say a few soothing words, even if they see .he outlook good it would not hurt to say we are concerned about what we see in financial markets and may give us a reason to pause next year. what are they telling us? >> it has become cheap to short the yuan. it is all the extra liquidity the pboc has pumped into the markets. if you're in a neutral position and thinking and my bullish or bearish, as soon as negative , the cost is almost nothing, which is a stark contrast from 12 months ago when it was expensive to short the yuan. there is no deterrent from that point of view. there needs to be some good news. rishaad: heading into the new year, which is the general sense . you said investors can barely look to hours into the trading day, but there must be a sense of when does the rot stop? >> it needs a circuit breaker. far thatve fallen so there must be relative value, markets,ties, emerging there must be things that have fallen and people say this makes sense for a t

this is the president picking a fight with jerome powell, his pick for the federal reserve.sary. every president dislikes federal reserve chiefs who raise interest rates. but they have those fights in private. this president replaced janet yellen with this guy. he complained when he wasn't president that interest rates should go up. jerome powell is raising rates, and he's slamming powell on twitter saying the only thing wrong with the economy is the federal reserve. for another time, we could have a detailed discussion what interest rates should do, but this is the president messing up these markets. >> you had steve mnuchin trying to make calls to the banks to try and kind of ease the market or ease jitters. that backfired. >> didn't work. that was like calling somebody and telling them, it's okay, it's not that serious. i got it under control, when the fact that the president can't fire the federal reserve president or chief. but one never knows what this president is doing and what's going on. so when mnuchin called to say it's under control, apparently it's not under co

but again, expectations, looking at one or none from jerome powell and the federal reserve. you don't want to kill a bull market. >> julie: no, you don't but you also have to take into account, when we talk about the economy, the shopping, the jobs, the numbers up, you also look at the housing market and that is something some people don't necessarily play into wall street but there's just way too much out there. not enough demand. >> i've been touting about the disconnect between mainstream, shoppers, lots of spending. home prices going up, maybe not as much as they used to. the problem with the housing market right now, there's that supply and demand. >> julie: that's the problem. it's definitely not a seller's market. >> for the seller's market, you are asking for a lot. >> julie: a lot of people are having to drop their homes by hundreds of thousands of dollars. >> sure. because of the interest rates. >> julie: great to see you, susan li. from the stock market to the lottery. one lucky person wins nearly $300 million in the powerball jackpot. it was sold in brooklyn, new

both of them have made pretty clear the president should not take steps to dismiss jerome powell.estion whether he should legally do s,p but they're al also trying to back him up, saying he's made some of the right decisions going forward. so it's clear the president has some divisions within his own party. and we'll see what the president decides to do. he's looking for someone to blame. and it appears if he can't get rid of jay powell, he's looking at steve mnuchin instead. that's one reason why mnuchin is doing everything he can to try to say that mnuchin is okay. but it could backfire today. >> it certainly did seem to do that. and on the mention of the fed, toulouse, there has been backlash among even republicans, to even the notion of asking about firing the fed chief. but the fact that that is now out there has probably not had as detrimental effect as if he actually did fire the fed chair, obviously, but it hasn't helped with the stock market today. >> yeah, and that's why you saw mnuchin over the weekend tweed 2013 out a conversation that he had with the president, where

people are going to be saying, who is jerome powell and how is he the bogeyman now? thanks, guys, appreciate it. >>> still to come, more on president trump's message to the troops. why that message also includes the wall. stay with us. boom. enjoy your prime rib! anyone ever call you, "meat santa"? no, that's... weird. happy holidays. enjoy. next customer? enjoy. the roasted core wrap. ways to lose stubborn belly fat. 2, 1... not cool. freezing away fat cells with coolsculpting? now that's cool! coolsculpting safely freezes and removes fat cells with little or no downtime. and no surgery. results and patient experience may vary. some common side effects include temporary numbness, discomfort, and swelling. ask your doctor if coolsculpting is right for you. and visit coolsculpting.com today for your chance to win a free treatment. if you want to get the most details about your family history. my pie chart showed that i'm from all over europe, but then it got super specific. i learned my people came from a small region in poland and even a little bit of the history abo

you say that the headline this week is not will jerome powell raise rates or not but it's his view ofeconomy. >>y kn >> we know he's going to raise rates. that is going to happen. the question is whether he's going to continue raising rates in 2019. that's more up to him. he hasn't decided yet. what we saw last week was record weekly outflows out of equities into cash, more than at any week since 1992. >> this is the first time in a decade jake morgan has recommended shifting into cash. >> right in . no one wants credit or equity risk. people are pulling back in the marn markets. >> are those people scared? just a few months ago people were saying sentiment from big business, small business, consumers, things are great, everyone loves the economy. where did this fear and panic come from? >> it's not panic just yet. the markets aren't showing panic. the fear is there not just from the overall markets on credit but also on corporate ceos as well. the latest ceo group is at the lowest level they've tracked since october of 2016 right before the election of president trump donald trump. i

he talked fed chairman jerome powell who he's been attacking in recent days for his decision to raise interest rates. he's also talking about the government shutdown and the border wall, reiterating he's not going to settle for border security, he still wants his wall. he talked about a number of other topics, from james comey to his favorite words, "no collusion." this is a president, even on christmas morning, not letting go of a number of different topics that have been in the news in recent days. here he is now, you can listen to him yourself. >> very talented guy, very smart. >> reporter: what about the fed chairman? >> we'll see. they're raising interest rates too fast, that's my opinion. i shouldn't have confidence. they're raising rates too fast because they think the economy is so good. but i think they will get it pretty soon. i really do. i mean, the fact is that the economy is doing so well that they raised interest rates a. president obama had a very low interest rate. we have a normalized interest rate. a normalized interest rate, it's good for a lot of people. they have

thanks to the fed, they have become very attracted, thank you, jerome powell especially now that i'm older and i can't afford to risk losing too much principle and inflation is beginning to cool at the same time, i'm still contributing to two index funds for my kids. why not? they have their whole lives ahead of them, so they can earn back anything they lose. i contributed to my ira even when i lived in my car in the late '70s and used the money i saved on homeowner's insurance it paid off huge i can't believe how much those contributions have made. the compounding is magnificent i'm not going to try to figure or time those contributions for anybody. these are all tultralong-term w. when you least expected it, you got some major gains, like in 1981 when the bull market started, and then in 2007. if i could have timed it, may have i would have taken it out in 1980. if you're buying stocks here, you know what you should be making a bet on? that jerome powell will learn what i know already, that the economy is down enough and doesn't need to move he knows that the next rate hike will be

slowing considerably, and that is why last week, you had him ranting and raging in private about jerome powell, the chairman of the fed, and he was looking for ways to fire the fed chairman, because he said that, according to what i have been told, that the fed chair is wrecking my quote, unquote economy, and so with that, he doesn't have much else to point to as major successes at this point. >> and so, yamiche, we are always talking about the forever trumpers with mark meadows and others, but are there others out there contemplating withdrawing the support for trump as the investigation investigations are continuing to mount into the organizations and the close associates and is he losing some of the political backing from both the senate and the house? >> the big question has been whether or not republicans in the house and the senate would at all push back on the president and say, look, what they tell the reporters in private is that the wall doesn't make much sense, but we have to make sure that we keep with the president's support, because we share his voters. 2019, president trump migh

and point of fact, she turned out to be wrong, just as jerome powell did.s thought she would have been a good fed chairman for this president.because she'd already learned his lesson. it appears, i think we can applaud jerome powell, he appears to have learned his lesson as well. do you agree? >> he softened his tone and since the october 3 statement that he made as you alluded to, at first, initially, he was saying that we are far from normalized rates. meaning interest rates should be closer to three or four percent. at least the historical average given the growth in the economy and now he's walked it back a little bit. i don't think was necessarily becauseof the presidents tweets. lou: i don't either! >> i think he's saying , let's >> i think he's saying , let's do this at a gradual pace. all money managers might seem the same, >> i think he's saying , let's do this at a gradual pace. but some give their clients cookie cutter portfolios. fisher investments tailors portfolios to your goals and needs. some only call when they have something to sell. fishe

he said he is talented and also appear to roll back criticism on jerome powell. he says his -- he is confident. china has released new regulations promising to treat all companies equally. a further 147 categories where government permits are required. the boj has released minutes from the october meeting with some board members saying policy changes they make in july have had the intended effect on the markets. bankse policymakers said should examine the side effects other policies while others say more coordination with the government is needed. global news 24 hours a day on air and on tic toc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. checking the markets in japan it is up by 1.5%. after a 5% drop yesterday. keep a watch on the yen which has been strengthening. korea is down 1.4%. u.s. markets saw the worst pre-christmas day on record. not quite a merry christmas. this is bloomberg. ♪ emily: this is what happened the last time we interviewed stewart butterfield. [laughter] [crosstalk] emily: oh my goodness, it's

you mentioned jerome powell. this is another person the president seems adding to his list of grievances. and that he's angry at right now. jerome powell is the fed chairman. he has been asking his advisers about his legal authority to fire jerome powell. he also, the president, just tweeted moments ago about the fed. the only problem our economy has is the fed. they don't have a feel for the market. they don't understand necessary trade wars or strong dollars or even democratic shutdowns over borders. the fed is like a powerful golfer who can't score because he has no touch. he can't putt. >> i love the putting metaphor. i think that tells you that the president wants to be on the green at mar-a-lago. but you know, what's amazing to me about this is that donald trump likes to use the stock markets as a proxy for the health of the real economy. that's never been the case. we have been disconnected. real economy, main street, and wall street have been disconnected for many years. that's one of the reasons the fed