trump appointed jerome powell, and has been complaining about it ever since. >> i think we have much more of a fed problem than anybody else. >> my biggest threat is the fed because the fed is raising rates too fast. i think the fed is far too stringent and they're making a mistake. >> this is why the fed is meant to be an independent body because every president would like loose money heading into an election, make the economy artificially pumped up to make them look good. that's why the fed has to be so independent and why there are so many concerns about the president trying to put two insi insiders, people close to him on the board. >> this is another way the president breaks with tradition, unorthodox, there were reports about him firing jerome powell because he didn't like the way he was operating the fed. speaking of president trump, he's set to travel to the u.s., mexico border. early thursday, he said this. >> we're going to give them a one-year warning and if the drugs don't stop or largely stop, we're going to put tariffs on mexico and products in particular cars. and if t

the president comes out and says you're out of your with mind, jerome powell. rates, stop it now, and then there's this clash and clutter and clacking, and the next thing you know wall street now agrees with the president that we have to keep interest rates low. and jamie die loan, the other day -- jamie dimon the other day admitting without saying that the president was right. >> and trump was spot on, latter part of 2018. interest rates are too high, no need for that rate hike. and sure enough, the bond yield comes down to 2.5%. what happens to mortgage applications for the purchase of a home, we now have the strongest four-week arm for that metric of -- average for that metric of the current economic recovery. and, by the way, not the entire equity market was flat today. we did have some nice advances posted by housing-related share prices. lou: right. i'm still going to call it flat though because the indexes were flat. i want some action in that market, you know? and we're getting very nice appreciation, and i love it. how long does it last, john lonski? >

it is jerome powell, the chair of the federal reserve.an trump nominated for that position because he literally thought the last fed chair was too short, that's why he fired her. but ever since powell took office trump has repeatedly berated him for raising interest rates. trump regards powell as one of the greatest mistakes of his administration, and that's saying something. probably has more to do with whether trump is releected than almost any single factor so clearly worried about that, the president has decided to try to stuff the board with preposterous cronies. first, stephen moore has been wrong about almost all of his predictions as $75,000 of unpaid taxes, was found in contempt of court of shorting his ex-wife in $300,000 of alimony and has said he's going to have to learn about the fed on the job. >> i'm going to be on a steep learning curve myself about how the fed operates, how the federal reserve makes its decisions, and this is real exciting opportunity for me. >> well, it'll be exciting to learn, won't it, while you're doi

viviana: president trump's relationship with fed chairman jerome powell reportedly isn't getting anythe last week, trump blasted powell at three meetings and blames the fed for holding back the economy instead of the stock market. he reportedly told powell "i guess i'm stuck with you." global news 24 hours a day, on air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm viviana hurtado. this is bloomberg. alix: theresa may is speaking in prime minister's questions, talking very heatedly yet again against the public wanting a cross party solution. david: you have to feel a little bit sorry for her, but she is saying she once a deal. she doesn't want to leave without a deal. she wants a cross party solution. she wants all these things, but no one wants to give them to her. [laughter] it is a tough position. alix: it really is. going to come back to washington now and the trade talks resuming between the west and china, with reports that the -- with us now is bloomberg's michael mckee. it was just like you were saying about there

late last year, the president considered firing jerome powell and replacing him with kevin walsh. l. trump considered this according to two sources who discussed the matter directly with the president late last year. this is the latest development in what has been a tortured relationship over the last year on the functioning of the fed and markets. >> talk to us about axios' reporting, that people close to biden believe bernie sanders' advisers are behind the campaign against the former vice president, which we have heard from sanders' camp, they are strongly denying. what are you hearing? >> well, this is reporting from my colleague. biden's advisers have made very clear that they're not diswaded from the allegations that are out. they're full steam ahead for his announcement. they are blamblaming, privately casting blame over their rivals for -- some of them are talking in conspiratorial terms, what is happening. >> do you have a sense of what's coming forward with joe biden, the women coming forward, may not only affect his decision to run, but how he enters the race? >> when he

the president has chosen to blame this on jerome powell for the weakness cnbc confirmed a phone call reported by "the wall street journal" that president trump made march 8th, the day they released weak february job numbers. we don't know what they talked about. perhaps one positive sign, president trump said on the call, i guess i'm stuck with you. that may be a hint that at least for now the president is not considering firing the chairman. >> steve, stay with us we want to bring in eamon javers at the white house what's the latest on what the president has or has not said about chair powell and what was interesting to me in the article is he likes to also complain treasury secretary steven mnuchin for recommending powell. everybody is getting blame >> reporter: that's right. this is a president who likes to bust people's chops. he does it to their faces and behind their backs that's a standard operating procedure of the president since he got into office and perhaps for a long time before that. but ultimately if you ask the white house officials about this, they tell you they are

>> a little bit, i mean, he appointed jerome powell as chair.ire at his vice chair, all very good people acting pretty independently, so there are 12 voting members of the open market committee, adding two who are much more partisan, but i think this is more barking rather than fundamentally changing things. it will provide some noise. it will provide some commotion, but i don't think this is going to undermine the federal reserve on its own. give it another six years, i don't know, but for now i think this is a change. the good news is he didn't do this before. >> well, is it your concern that he may be doing it now because, you know, of 2020 and lower interest rates that sure might be a lot more appealing to a lot of voteers? >> oh, he absolutely is doing it now because of 2020, and he seems to be wishing that he did it two years ago. fortunately he didn't. i think he has a really good team. absolutely these are more partisan appointments that he's made until now, no question about it, but, you know, i think really the -- it's too late. he's a

have to fill them and a lot of people think trump put these guys up just to send a message to jerome powellhat, i'm watching you, i want you to keep interest rates low. remember, he threatened to remove powell at one point. just watch how this plays out. as of now, we are hearing very difficult to get either guy through. cain is essentially d.o.a. liz: charlie gasparino, thank you. >> okay. liz: thank you. i let you talk. >> i just want to know about instagram. by the way, doesn't bob barr sound like dr. evil? he's exonerated. the president did no collusion. he's exonerated. liz: eight minutes before the closing bell rings. dow is up 107 but where are pinterest and zoom stocks? we are going to look. . . ou reserved. so no matter what, you're guaranteed to have a perfect drive. [laughter] (vo) go national. go like a pro. see what i did there? touch shows how we really feel. but does psoriasis ever get in the way? embrace the chance of 100% clear skin with taltz... the first and only treatment of its kind offering people with moderate to severe psoriasis a chance at 100% clear skin. with talt

president trump is blaming jerome powell for holding back the booming economy. is he right?an economic visor coming up. ♪ i've even built my own historic trading model. and you're still not sure if you want to make the trade? exactly. sounds like a case of analysis paralysis. is there a cure? td ameritrade's trade desk. they can help gut check your strategies and answer all your toughest questions. sounds perfect. see, your stress level was here and i got you down to here, i've done my job. call for a strategy gut check with td ameritrade. ♪ your control. like bedhead. hmmmm. ♪ rub-a-dub ducky... and then...there's national car rental. at national, i'm in total control. i can just skip the counter and choose any car in the aisle i like. so i can rent fast without getting a hair out of place. heeeeey. hey! ah, control. (vo) go national. go like a pro. our grandparents checked zero times a day. times change. eyes haven't. that's why there's ocuvite. screen light... sunlight... longer hours... eyes today are stressed. but ocuvite has vital nutrients... ...to help protect them.

we will see what jerome powell has to say about that. it has come down, lower than they would like. growth looks fine, not a problem there. inflation is what is on everyone's mind right now. jonathan: consumer price tolerance looks ok as well. several companies through the week, pepsico, coca-cola, dr. and gamble, all saying they can put up prices, and they got the green light from the consumer. there are a few signs that things are picking up. iain: i think so. if you think about the overall market, typically q1 is not great from a gdp standpoint. we also had to shut down to contend with, retail sales have picked up recently. there are some green shoots as look forward to q2. it is probably better than what most people have hoped for, when you look at where we were in november, december. greg: yesterday jobless claims notwithstanding, look at how strong the job market is. wages are going up. we think that will support prices. your view is the treasury yields are going lower. matthew: we are at 2.25 by the end of the year. puttingps out at me, the gdp report to the side, is what the

it's jerome powell, a lawyer and former private equity executive who was considered a pretty moderateublican before joining in a consensus builder across-parties. he served on the fed board since 2012 and also worked in the treasury under george h.w. bush. i tell you all that to give you a sense of basically who is in charge. many people do remember how pivotal the fed can be in a crash. andrew sorkin tracking how it came down to bankers and regulators in a room like you're looking at to try to prevent that downturn from becoming a crash. it was all documented in the film "too big to fail." >> i'm running a company. if the fed tells me i can't offer competitive pay for talent, you're going to launch the biggest brain drain this country's ever seen. is that the way you want to run the banks? >> until the money is repaid to the treasury, there will be some limitations on tax deductions on golden parachutes. >> well, there you go. >> i don't really understand why there needs to be so much tension about this. the country is facing the worst economy since the great depression. if the finan

hasa: jerome powell reportedly reasserted the federal reserve's independence.was not a meeting between the chairman had a democratic lot -- this was during a meeting between the chairman and democratic lawmakers. he was reportedly also asked about the president potential picks for the fed board, but he said he does not discuss nominations. of becoming the first nation to land a privately financed spacecraft on the moon have been dashed. the capsule crashed before a scheduled touchdown in the sea of tranquility. it left nothing -- there was nothing to slow the dissent of of theft -- descent craft. 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. this is bloomberg. anna and matt. anna: thank you. it has been a brutal year of layoffs for european banks. societe generale is slashing 1600 jobs, and a bank in poland is cutting nearly 1000. there are more at risk. a merger between deutsche bank and commerzbank could see 30,000 jobs cut. the measures are also extending into the

it will be fascinating next week to see what jerome powell has to say about that.t has come down, lower than they would like. growth looks fine, not a problem there. inflation is what is on everyone's mind at the moment and that is what everyone is focusing on. jonathan: consumer price tolerance looks ok as well. we have heard from several u.s. companies through the week, pepsico, coca-cola, procter and gamble, all saying they can put up prices, and they got the green light from the consumer. they paid up and revenue growth came along. there are a few signs that things are picking up. ian: i think so. if you think about the overall market, typically q1 is not great from a gdp standpoint. from seasonals that we all know about. we also had the shutdown to contend with, retail sales have picked up recently. there are some green shoots as look forward to q2. so maybe it is not that bad of a print. it is probably better than what most people have hoped for, when you look at where we were in november, december. greg: yesterday's jobless claims number notwithstanding, loo

. >> do you think that the fed chairman jerome powell is doing a good job? >> i do. i know we have had discussions about that in recent weeks. >> with him? >> we just had a lot of discussions. i started my career at the federal was there -- reserve. i was 13 when i was in omb, i was at the new york fed in 1973. i have a long history with the fed. it's well known that the president did not agree with the last couple of rate hikes. i agree with the president on this. i thought they were unnecessary. that doesn't mean we cannot express our opinions. we all have views. as i have said before when the fed is ready, i would not mind seeing them lower the target rate 50 basis points or so in line with the low inflation rate. having said that with regard to powell who is a friend, he's a good person and will turn into a good fed chairman. rich -- is a vice-chairman, and old friend of mine a great guy and i think they will work well. i notice from the various reports and so forth they had changed their view. i don't in the foreseeable future, maybe never again in my lifetime,

fed chairman jerome powell said the stock market would be five thousand to ten thousand points higherif the central bank had done its job properly brags it is of rubbish the bank of england and its canadian governor mark carney prediction on the economic impact of britain's decision to leave the european union president to when of turkey triggered short selling of the lira after the central bank started propping up the currency ahead. of elections and more doubts a been cast on india's economic data the central bank has lowered interest rates just before elections there all this at a time when the international monetary fund has lowered projections for growth to three point three percent the lowest growth since two thousand and nine well joining us here in doha to talk more about this is aqua khan senior director of asset management and welcome so about the independence of the central banks it seems that the they're there under threat from several leaders in the world president trump and in turkey modi in india and so on what do you make of that. so when it's very easy for a politicia

the nasdaq marketsite overluking times square it is a quantitative quarrel president trump and jerome powell facing off as trump doubles down on his push for the federal reserve to cut rates, but the market already knows who the winner is. we will explain and check out energy soaring today the best performing sector and j.p. morgan says this trade is about to catch fire. we will show you the chart that could point to even bigger gain ahead. but first, we start off with the markets and the s&p 500 locking in its seventh day in a row and the longest winning streak since october 2017 and less than 2% away from the all-time high and check out the champions this week wynn up a whopping 18% and advanced microdevices soaring 14% and delta air lines jumping 12% and look at the macy's move up 12% so it would be a perfect time to play a little trade it or fade it we'll get right to it, guys. grasso, we kick it off with you, wynn, trade it or fade it. >> i'm going to say fade this one, but a lot of things have gone right -- >> macao gaming was up and that's the last push in this one. no china recession

fed chairman jerome powell said the stock market would be five thousand to ten thousand points higherif the central bank had done its job properly breaks it is of rubbish the bank of england and its canadian governor mark carney prediction on the economic impact of britain's decision to leave the european union president to when of turkey triggered short selling of the lira after the central bank started propping up the currency and. of elections and more doubts a been cast on india's economic data the central bank has lowered interest rates just before elections there all this at a time when the international monetary fund has lowered projections for growth to three point three percent the lowest growth since two thousand and nine well joining us here in doha to talk more about this is aqua khan senior director of asset management and welcome so about the independence of the central banks it seems that the they're there under threat from several leaders in the words of president trump and in turkey modi in india and so on what do you make of that. so when it's very easy for a politic

bob: do you think that the fed chairman jerome powell is doing a good job? mr. kudlow: i do. i know we have had discussions about that in recent weeks. bob: discussions with him? mr. kudlow: we just had a lot of discussions. i'm very excited. [laughter] bob: tell us about those discussions. careerlow: i started my at the federal reserve, a little-known fact. career at 13, i don't know how i was at the fed in 1973, a freshly minted graduate. look, i have a long history with the federal reserve. it's well known that the president did not agree with the last couple of rate hikes. i agree with the president on this. i thought they were unnecessary. the fed is an independent central bank, and we aim to keep it that way. that doesn't mean we can't express our opinions periodically. the president himself is a very well-informed investor and business met. i have views, we all have views. so as i have said before, i wouldn't mind when the fed is ready, i would not mind seeing them lower the target rate 50 basis points or so, in line with the following inflation rate. having said that,

why he believes the fed chairman jerome powell is doing a good job.: goldman sachs ceo david solomon seeing a speedbump in the fourth quarter. eric spoke to him about the outlook. >> throughout the quarter, activity levels improved. we had a little bit of a speedbump. as we movedhutdown through the quarter, i think we saw a little bit more of a move back for risk assets. i think as you get around the europe and japan lacking a little bit, but the overall package, especially that central , quiet activity has improved. >> how do you think that pivot and the results it has had in financial markets will affect or influence the way central bankers think about policy going forward for the rest of the year and into 2020? >> i think they have been clear about communication. our lead economist -- >> you can make the case that back in october, jay powell may have screwed up a little bit. >> i think he has done a good job, a difficult job. as you move forward, policy activity as we move into 2020. economists predicting one increase late in the year in 2020. onis

tlt had its biggest one-day selloff since jerome powell. that seems like a lifetime ago. >> i will talk about something no one has talked about yet, and that is metal and mining stocks. thenight out of china, better data. a lot of these forecasted production deficits that we've been hearing about, that is through commodity prices whether it is nickel, zinc, aluminum. a good tactical investment given some of the uncertainties surrounding the brilliant disruptions we've seen. we are seeing all these commodities returning. the whole lot of them. a lot of folks saying this could be a trade to hold onto. coming off one of their best quarters we've seen in quite some time. ofstill with us is anthony ameriprise financial. about anthony talking trade deals. we think commodities rally. of deal, get some sort even if it's not a good one. >> you could say that it is. if you were going into this week believing that maybe we were going to have some good news, then yes, that could absolutely add some fuel to the fire for stocks. there is the possibility

here is their preferred measure, you had been a key -- you have janet yellen and jerome powell.nd not even able to push inflation of. -- off. what do you do? carol: exactly right. up next, spies and refugees make bogota casablanca. risk alld the new nuclear power plants face thanks to climate change. carol: this is "bloomberg: businessweek." ♪ carol: welcome back to "bloomberg: businessweek." jason: join us for bloomberg the everyday on the radio. and catch up by listening and subscribing to our podcast. carol: and you can find us online at businessweek.com and our mobile app. mercenaries, spies, double agents are all gathering in bogota. jason: the troubles in venezuela are turning the colombian capital something at casablanca -- like casablanca. carol: were seemingly everyone is trying to help or take advantage of the christ. -- crisis. >> something like 1,000,000.3 moved -- 1.3ve moved. immigrants have and columbia is relatively stable, i don't want to overstate that. jason: after years of being the opposite. >> that is right, these marxist guerrillas. suddenly, you have a co

. >> do you think fed chairman jerome powell is doing a good job? >> i do. i know we've had some discussions about that in recent weeks -- >> discussions with him? >> we've just had a lot of discussions, it's been very exciting. [laughter] >> tell us about those discussions. >> i started my career at the federal reserve. that's a little known factoid. i was 13 at o to mb, so i was at the new york fed at 19, freshly minted princeton grad student person. so i have a long history with the fed. look, it's obviously well known that the president did not agree, does not agree with the last couple of rate hikes. i agree with the president on this. i thought that they were unnecessary. now, i, again, the fed is an independent central bank, and we aim to keep it that way. all right? that doesn't mean we can't express our opinions periodically. the president himself is a very well-informed investor and businessman. i have views, we all have views. so as i've said before, when the fed is ready, i wouldn't mind seeing them lower the target rate 50 basis points or so, in

worry the president is picking loyalest to balance out disagreements with his former fed chair, jerome powell>>> an american tourist and guide were returned alive, last week these pictures captured moments after kimberly sue endicott and her guide were rescued from the democrat congo. both are in good health. a ransom for their release was paid by the tour company wild frontiers. government's often avoid ransom payments, fearful it will encourage more kidnappings. at this point it's not clear how much was paid, who the kidnappers are or who they worked for, and whether endicott was targeted because she's american. the u.s. military provided support to ugandan skurecurity forces including intelligence and surveillance. >>> the white house is fighting the release of the president's taxes, requesting six years of mr. trump's returns. he's citing a little known tax code. he's asking for tax returns from eight of the president's business entities. mick mull vavaney says that's n going to happen. >> to be clear, you believe democrats will never see the president's tax returns. >> oh, no. never. nor

jerome powell will speak and new payroll data.ve su keenan joining us with a preview of that run down. what do we have up when it comes to earnings going on? we have plenty with peak earnings season. give us highlights. su: the question is will it drive in advance of the new stock records, particularly the s&p and nasdaq? we have mixed earnings as of late but keeping very strong friday along with the stronger than expected gdp that helped drive things higher. the story really was the stock market. crude oil will come back to that, really took a hit as president trump has called for sanctions, waivers against, buying from iranian oil to be removed and you will notice that affected oil stocks. oil ticked higher friday because of what was beneath the hood of the gdp data. we will get to that. look at the stoxx that are going to be in the spotlight as we get in the monday trade. we will mention disney had that blowout of record numbers, returns, $1.2 billion globally in terms of the box office. they have done really well with these fr

president trump taking on jerome powell and the federal reserve he said the central bank is standing in the way of huge stock market gains. >>> major bank earnings coming up on tap. goldman sachs and citigroup in just a few hours following wha we got from wells fargo and jpmorgan as well as earnings season unofficially start to heat up. >>> boeing airlines heats up as the 737 is being side lined. >>> goldman sachs has a message for wall street. get ready for four more years of president trump and donning the green jacket once again, tiger woods capping off his comeback tour with his first masters championship since 2005. it is tax day, april 15th, and "worldwide exchange" begins right now. ♪ ♪ >>> good morning and welcome to "worldwide exchange" from wherever you are in the world. i'm dominic chu and brian sullivan is in crosby, texas, he's off for the day we'll hear from him shortly. what a weekend for tiger woods, nike and the world of golf woods taking home the green jacket for the first time since 2005 capping off a massive comeback tour. much more on that his tourk win and his e

the president blasted jerome powell at three meetings in the past week. l street journal" as he blames the fed for holding back the economy and the stock market. aesident recalled conversation in which he told powell "i'm stuck with you." prosecutors say dozens of parents paid an admissions consultant to bribe college coaches and rig test scores for their kids. neither actors felicity huffman or lori loughlin have commented. global news 24 hours a day, on air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm viviana hurtado. this is bloomberg. guy: thank you very much indeed. prime minister theresa may laying out the case for working with the labour leader jeremy corbyn on brexit. across the channel at the european commission, jean-claude juncker saying the commission is still preparing for a no deal divorce. we are joined by bloomberg's maria tadeo live from brussels. pulling any punches earlier, was he? maria: no he wasn't. said that they've said many times the way to get this over the finish lin

if i decide how all of you of the fed help jerome powell with this new data dependency, this new we havet we have to see before react. -- before we act. the tone you give to mr. powell. lael: you point to an important facet of our deliberations. it is the committee. congress is ingenious in the way they designed the federal reserve. we do have 12 reserve bank presidents appointed outside of washington. they sit around the table, along with board members. as we have been looking at how the economy has been performing recently, here we are with employment consistently performing very well, and yet wage growth is muted and overall inflation is still not consistently getting around that 2% target. we are going to be patient. bloomberg surveillance, william lee of the milken institute is one guest today. he says he has never seen it right this. rises,e rise, two rate great division. give me the why. why are we having such a clarity of market economist? lael: i cannot speak to market opinion on this. what i can do is talk about how i see the outlook. outlook is coming in. we had reassuring dat

it sets up for jerome powell to look like mr. bungle. he has to run around chasing stock prices. personally, i see some real challenges in the labor market from a tightness perspective, so does janet yellen. i think the fed will be stuck between a rock and a hard place. some slowing global growth but tighter markets in the u.s. vonnie: are you shifting any of your money around, changing allocations? some a normal most asset products, particularly all the sector bond funds, we have basically doubled cash in the last six months. this is going to be a market where we see more volatility. if you see the fed chasing economic outcomes with financial conditions and stocks, in general, financial conditions, economic outcomes -- the chicken and egg problem. which one do you get first? chasing sentiment will add volatility. , that isot chicken/egg something else. we are stepping back from prices that we think are not economic, and we are excited about having good payment from cash from the inverted yield curve. vonnie: where do you anticipate putting that to work at some point, when might

they have attacked the fed, specifically jerome powell over the rate increases. he signalled they would not raise interest rates this year. the last fed rate hike was in december. this is an independent body and designed to be that way. it's meant to be isolated from the political whims in washington. you certainly don't want a fed board that is going to, you know, have easy money to keep a president happy. that could cause problems further down the road. it's just -- i can't even imagine the discussions that are happening behind closed doors at the fed these days. >> a lot of it has to do with the fact that we're headed toward an election. he ran on the economy. >>> there's a raucous crowd greeting the newest democrat running for president. more from mayor pete buttigieg's rollout, coming up. no matter where you are in life or what your dreams entail, a cfp professional is trained, knowledgeable, and committed to financial planning in your best interest. find your certified financial planner™ professional at letsmakeaplan.org. >>> people in the southeast assessi

pce in white, here is their preferred measure, you have janet yellen and jerome powell.utting rates and not even able to push inflation up. even to 1.8%. conundrum. what do you do? carol: exactly right. up next, spies and refugees make bogota the new casablanca. jason: and the new risk all nuclear power plants face thanks to climate change. carol: this is "bloomberg: businessweek." ♪ ♪ carol: welcome back to "bloomberg: businessweek." jason: join us for bloomberg everyday on the radio. and catch up by listening and subscribing to our podcast. carol: and you can find us online at businessweek.com and our mobile app. mercenaries, spies, double agent, and refugees are all gathering in bogota. jason: the troubles in venezuela are turning the colombian capital into something like casablanca. carol: seemingly everyone is looking to help or take advantage of the crisis. >> something like 1.3 million immigrants have moved. refugees have left venezuela. next-door neighbor. proximity. the other thing not to forget is so many colombians moved to venezuela when it was in oil-rich pa

this comes after months of criticisms of the chairman jerome powell, whom the president himself appointednd, the man accused of the christchurch mosque massacres will be in court tomorrow. the 28-year-old australian will be charged with murdering 50 and wounding 39 others. the attack prompted new zealand's government to ban military style semi automatic's and assault rifles. global news 24 hours a day, on air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. young.ita this is bloomberg. vonnie: president trump meets with the chinese vice premier today at the white house as speculation grows that a trade deal is in its final stages. for more, we welcome bloomberg economic policy team leader sarah mcgregor, who joins us from washington, d.c. what do final stages mean, sarah? until recently, enforcement was one of the big sticking points. have we made some headway there? sarah: we do think it is possible today. president trump is going to meet with china's trade czar at the oval office, and we do think it is possible that trump himself m

during his first year in office. >> it is my pleasure and my honor to announce my nomination of jerome powell the next chairman of the federal reserve. >> it's become clear the president is not happy powell is playing it straight, that he's not bending to pressure from the president. there are seven seats on the central bank's board and president trump has had the chance to fill six of them. his first three picks were traditional, his last two were not. one is stephen moore, a campaign advisor who lavished praise on the president. he's the author of a book called "trumponomics." president trump's other pick is herman cain. >> he's a terrific man, a terrific person. he's a friend of mine. i have recommended him highly for the fed. >> the federal reserve has a long, proud history of independence. in the past friendship with the sitting president has not been what lands you a job running the world's most powerful central bank. has that changed? we'll see. it's been 16 days since president trump said he would officially nominate stephen moore for an open seat and since then concerns about his qua

that you know, powell, i never thought jerome powell was a hawk.ch more hawks up for that job. kevin warsh in particular. connell: that is the guy the president thinks he should have appointed. >> i don't know. he is more hawkish than powell. what i would say he is looking at now, is that steve moore is the counterweight to powell's hawkishers in. i think that the president will fight hard for him. connell: more likely to go to bat for him? >> i think so. the call will be made to connell. the conservatives, the supply side community will stand up for steve because steve has -- is, listen, people maybe mistakes, with stuff like alimony. steve is a good man. he has an established record. by the same if you're saying he made his takes in life or with economic, calling economic calls, tell me bernie sanders never -- ben bernanke never made a mistake? tell me alan greenspan didn't set the scenes for the financial crisis? connell: i'm not saying, that is criticism, just his own personal financial dealings, he hasn't been a great economist, his calls have

president trump taking on jerome powell and the federal reserve he said the central bank is standing huge stock market gains. >>> major bank earnings coming up on tap. goldman sachs and citigroup in just a few hours following wha we got from wells fargo and jpmorgan as well as earnings season unofficially start to heat up. >>> boeing airlines heats up as the 73

president trump reportedly telling fed chair jerome powell on a phone call recently, quote, i guess i'm stuck with you. here is a bigger question, folks, should unelected bureaucrat with no accountability have the kind of power he has to destroy the economy? think about that. president trump threatening again today to close the border unless congress steps it up. i will get reaction from republican senator rick scott from florida. all that and more on "making money". ♪ charles: he is not stuck on him, but president trump reportedly said he is stuck with him the he is referring to fed chair jay powell, this according to a new report. trump flirted with idea replacing powell who trump blames for holding back the economy. while the feud makes for great fodder and headlines, why does powell have so much power in the first place? rose cliff capital mike murphy, kaltbaum capital management president gary kaltbaum. gary, start with you, i know you're such a huge fan of the federal reserve. only thing you like more is the mets when they occasionally win. >> teeing me up pretty good here, charle

you also have the fed and jerome powell's press conference will be very closely watched. had solid data out of the u.s., but there are questions about the underlying strength of the economy. at the end of the day, china and japan are shut. a lot of global markets closed for the may 1 holiday. there is still a lot of going on that trade is up. you also have the trade talks. probably looking at a fairly lackluster session for asia today. selina: there are signs that china stocks surge might be coming to an end. what is your take on that? andreea: that is right. investors are running out of reasons to keep being bullish on chinese stocks. this is a market whose value has gone up by $2.5 trillion this year. big markets everywhere else around the world. we have a chart that shows that is actually running out of steam. chinese stocks suffered their worst week compared to the rest of the world. since 2016. among the reasons, uninspiring earnings seasons and that there will be less aggressive stimulus policy. after some encouraging numbers. analysts are also concerned that the sh