. >> brennan: we'll preview jerome powell's "60 minutes" with scott pelley. if that's the case, do we need the $2 trillion bill democrats are tr trying to get through congress. we'll hear from nancy pelosi and liz cheney. we'll also look at the crucial caveat in chairman powell's assessment. our recovery is tied to americans taking the coronavirus seriously. in michigan, the covid-19 situation is so bad, that governor gretchen whitmer used a trifecta of sports analogies. >> the fourth down on the two yard line with five seconds left in the fourth quarter. we cannot afford to strike out, fumble the ball, it is everybody against covid. >> brennan: she is lobbying the biden administration for more vaccine supply. so far they said they'll help, but no extra shots. >> we don't know where the next increase in cases could occur. now is not the time to change course or vaccine allocations. >> brennan: especially not when there are supply glitches, and even more demands. in a week, all americans over 18 will be the eligible for a covid-19 vaccine. >> biden: no more co

david rubenstein with jerome powell. as mr.stein mentions, it is a piercing and different interview than the usual you hear from jerome powell. lisa: there is actually news crossing the bloomberg terminal. iata sees the expectation for airlines to start breaking even in 2022, which is interesting, given the fact international travel has to come back by then. when in 2022 is important. jonathan: the key idea -- tom: the key idea is to get to 2022. coming up, jane harman. lots to talk about on america, and particularly on washington. this is bloomberg radio and television. ♪ want to save hundreds on your wireless bill? with xfinity mobile, you can. how about saving hundreds on the new samsung galaxy s21 ultra 5g? you can do that too. all on the most reliable network? sure thing! and with fast, nationwide 5g included - at no extra cost? we've got you covered. so join the carrier rated #1 in customer satisfaction... ...and learn how much you can save at xfinitymobile.com/mysavings. ♪ jonathan: good morning, good morning. this is th

charles: federal reserve chairman jerome powell answering a litany of questions.e things really standing out here. the question of scarring, how much of the pandemic is taken its toll, has scarred this nation. on when the fed will move changing their rate policy. a very diplomatic answer why people won't go back to work. he did allude to the fact that maybe it has something to do with unemployment benefits but he seemed a little befuddled. i will bring back danielle dimartino booth, and get your assessment. danielle, on this, the market started to gain a little littlef traction because jerome powell was adamant, he was adamant providing substantial support for a long time. it would be outcome based. yes, he is not they having about thinking about changing anything right now. the market likes what they heard. what did you hear? >> you know, charles i heard the same thing but i also heard him speaking clearly out of both sides of his mouth. pull up the federal reserve board web page the fed is mandated to make policy in the public interest. one of the first things o

we expect it might become that way because of jerome powell's comments.: we had the great move today that went down. it seems like the story is that despite as fast as the economy is growing now, it feels like people got the message the the fed will not move for a long time. olivia: right. jerome powell will want to see reports like this for months at a time before he makes any moves. caroline: we want to thank you, olivia. everything, the numbers, thanks. meanwhile, we would look at lumber prices. they are on fire. more than 60% this year. we break down the price surge in shortages behind it all. that is next. stick with us. this is bloomberg. ♪ caroline: we are focused on the u.s. recovery today. housing has seen a steady boom throughout the pandemic. joe, there are a few other factors driving it. lumbering prices are at staggering heights. joe: if you look at lumber futures every day, they go up day after day after day after day, limit up, limit up. you would think we are looking at bitcoin. romaine: this is the real asset class. we are focused on othe

saying that. >> are you thinking jerome powell saying it is a contraireian indicator or that he is starting to talk about qe in some way, managing market expectation? >> so, mel, we try to make this different every cycle and of course the reasons for the recession are different each cycle and always ends in a credit crisis. once you're in the bottom of the market the fed comes in to the rescue and game changed it on april 9th they announced they would buy corporate debt they was a game changing event we thought. this is 2004 this is 2010 you're on the back of a monster move you've had an acceleration pending in economic activity that is very identifiable, it felt like during that ramp the fed is never going to say anything negative. and of course they do. in 2004 you had an 8% decline over few months coming from a peak in april. and in 2010 you had a peek in april and you had about a 15% flash crash decline. i don't know which one of those it's gonna be but i think the combination of those factors as i said before plus all of the optimism and four key factic allocators being his

that's the message tonight of jerome powell, the chair of the federal reserve. 's known, regulates our economy by controlling the supply of money, setting interest rates and overseeing major banks. we sat down with chairman powell in his washington headquarters this past wednesday, one year after the covid crash wiped out 22 million jobs. is the economy still in jeopardy? >> jerome powell: i would say this-- what we're seeing now is really an economy that seems to be at an inflection point. and that's because of widespread vaccination and strong fiscal support. strong monetary policy support. we feel like we're at a place where the economy's about to start growing much more quickly, and job creation coming in much more quickly. so, the principal risk to our economy right now really is that the disease would spread again. it's going to be smart if people can continue to socially distance and wear masks. >> pelley: you seem to be saying-- not about covid, but about the economy-- that we're out of the woods. >> powell: well, i'd say that we and a lot of private sect

jerome powell says the u.s. economy has started to recover in the pace of vaccinations.n the interview with cnbc, powell warns of the headwinds of new cases. the fed is looking into the archegos to make sure it does not happen again >>> marcus soder added his name to the race to replace angela merkel the parties will need to decide who will stand in the federal election in september. soder or laschet soder was not looking to expand the coalition. adding they were both suited >> translator: expectation to come to a shared resolution regarding the question of the candidacy of chancellor. conversation was not conclusive. we established both are suitable and willing. >> let's get out to anetta with more we are talking about this when you had interview mr. shultz talk about the candidate you would think the presumed candidate for chancellor would be the leader of the cdu party in this case, laschet. what's going on here >> that's the case if you look at popularity, that is crucial when it comes to soder and now laschet. only 15% of the germany think he would be a good fit as

the international monetary fund hosts a debate on the global economy with federal reserve chair jerome powell and imf managing director. that is live at noon eastern on c-span. at 2:00 p.m., nancy pelosi speaks to reporters about the legislative agenda when congress returns next week. at 4:00 p.m., a discussion on potential changes to the federal court system from the american constitution society for law and policy. and on c-span 2 at 10:00 a.m. eastern, day nine of the trial of former minneapolis police officer derek chauvin, who is charged in the death of george floyd. announcer: wednesday, president biden spoke about his infrastructure and jobs plan, and the proposal for a global minimum tax rate. this runs 25 minutes. pres. biden: good afternoon, everyone. last week in pittsburgh, pennsylvania, i announced my plan to rebuild what i referred to as the back bone of america through the american jobs plan. it is not a plan that tinkers around the edges, it is a once in a generation investment in america. unlike any we have done since we built the interstate highway system and won the space r

jerome powell playing down the risk that inflation could get out of control. he stressed that the economy still needs support among a incomplete recovery. >> we have said they will continue at the current pace until we see substantial progress toward our goals. that means actual progress. we are not looking at a forecast. we are looking at actual progress. we will be able to measure that against inflation. i would look at global vaccinations as a risk. juliette: the san francisco fed president said she is bullish on the u.s. recovery. but there is still a long way to go. >> we saw substantial further progress. we have to see it. that is what we are looking for. to see it in the data. rishaad: let's get more analysis. it seems like all the fed officials on message. >> as they say they are starting to talk about it, markets will assume that it is imminent. there will be a step up in price. there are some people thinking before the end of this year. that is not unreasonable, given the way things are going. the vaccination story is still very incomplete. they will

but when will it become a locomotive again to jerome powell promises the federal provide the fuel. see more investors are starting to believe him but there obviously challenges and meanwhile, wall street is upset because individual investors are extremely emotional nice i get over it because the individual investor has been right predict wall street and danny is with us and on deck we have a lot to cover. meanwhile progressives and torque if bone crushing defeat of the amazon vote goes down in flames but take heart, president biden just took his first step towards asking the supreme court. and what is next in my backyard. and why should suburbanites price with the new neighbors, we will tell you, all that is so much more on making money. ♪ ♪♪ charles: will the market continues but the very cautious vibe that reflects sort of the moderately bullish market rep we have seen recently and we keep the internals are not that great. it is not about fair however because it started the recession at the slope levels at february of last year and i think that yesterday session though really is

isaac, jerome powell says prices won't be a big deal, and it's only temporary.t or he's not in touch with reality. the fact is that right now prices out of china are average for toys up 22%. the lack of -- transportation is doubled the cost of last year, and we have factory in usa, we cannot get labor. revenue's up, everything is up. i think inflation is going to be up double digits by the fourth quarter. and if the government doesn't do anything about it, we're going to be like turkey. liz: well, that's the thing, arnold. the government says it's only transitory, temporary, but you've got to tell me what you're seeing and doing as far as material costs and price hikes for your bicycles. >> yeah. i mean, this is a quite interesting time. i've never seen so many things happening at the same time. i mean, right now we've had in the past six months to a year increases of 30% in aluminum, 30% or more in steel -- liz: wow. >> my ocean freight now from, say, china to the west coast has more than doubled. actually, we're paying about $1400 a year ago, we're paying $350

anna: jerome powell speaking to david rubenstein. virtual event hosted by the economic club of washington. for more, we are joined by -- what did powell tell us? >> this was consistent with what we have been hearing from jay powell. a 60 minutes earlier this week and all year. the one highlight which david rubenstein tried to get more detail on the timeline, the one highlight was that they would probably peel back purchases well before raising interest rates. that was helpful. what you are seeing," manus cranny on this, powell was trying to take back the narrative here. a flood of great data. you have this debate about inflation and whether it's going to be sustaining itself beyond the sort of second quarter we have the lopez effects. investors might lose patience with the fed's patient stance. what you have is powell laying out more clearly this timeline about how long it will be before they raise interest rates. what we are hearing again from richard clarida is it is going to be outcome days. they are not going to move on any of th

jerome powell says disparate efforts to vaccinate people globally is a risk to progress. air urged people to get vaccinated and encouraged social distancing during the spring meeting of the imf. powell sounded an optimistic tone about the -- overall. >> what progress would look like with the employment report, plus the one million jobs if you add revisions for january and february, we want to see a string of months like that so we can show progress. the recovery here remains uneven and incomplete. >> fed officials have repeatedly stressed the u.s. economy continues to need aggressive monetary policy and support. global news, 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. ♪ >> welcome to "bloomberg markets." matt: we welcome bloomberg audiences every at this hour. here are the top stories we are following. inflation, we take a look at why does hit hardest by the pandemic are seeing the biggest price increases in terms of their monthly spending power while the highest earners see the least amo

fed reserve chair jerome powell says the u.s. economy as at an inflection point. ll told "60 minutes" there is strong growth in hiring ahead thanks to vaccinations and strong policy support, but says it would be smart of people continue to socially distance and wear masks. today, democrats will start considering president biden's infrastructure and tax proposal. his american jobs plan focuses on infrastructure and some social measures. the president is expected to ask for another massive investment in programs focused on health and families. regulators in china have told ant group to become a financial company that can be regulated more like a bank. they halted ant's record ipo. microsoft is making a massive bet on artificial intelligence. the software giant is set to buy nuance communications in a deal with an equity value of about $16 billion. it is a software that helps doctors take patient discussions and integrate them into health records. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more

and now it is my pleasure to welcome jerome powell,wa j powel to our conversation. thank you. >> great to be here. let me begin by talking about the state of the economy and public statements today in recent interviews make it sound like you feel the economy is in reasonable shape from here and your exciting growth of five or 6% this year, is that a correct announcement of your views? >> general, yes. i would say that the economy at this point does seem to be at a bit of an inflection point and that makes sense with ever more widespread vaccinations with strong fiscal policy and with continued support for monetary policy and you see the economy opening and you can see ridership on airplanes going up and people going back to restaurants and i think the march jobs report that we recently got shows what that can look likea which was close to 1 million jobs in a month so i think we are going into a time of grower height job creation but there are still risks in particular in the main risk is that we will have another spike in cases perhaps in a one of the virus strains

suddenly you have the chair of the federal reserve, jerome powell, the treasury secretary janet yellen saying interest rates are so low, we can invest. so there is an awareness that what may be more important than these weapons of mass deficits is a job creation program that would benefit this country coming out of this pandemic, which has ravaged our economy and so many lives. host: are you saying president clinton and president obama continued reaganomics? guest: you know, it is a little -- i will not say "reaganomics," but i will say a liberal economics that -- clinton certainly did speak about the era of big government is over. and obama was trapped, in a sense, by not going, quote, "big and bold" enough, and come in a way, instigating a people already movement, -- a tea party movement, because people felt the banks have been privileged, not people. so i think in the obama era, yet people like larry summers -- you had people like larry summers speaking out about inflation. inflation is not a warning of this country, on appointment is. if you could create a great jobs program, like

and now it's my pleasure to welcome jerome powell, to our conversation. thank you very much for being here chairman powell. >> thanks david, great to be here. >> so let me again start by talking about the state of the economy, your public statements today in recent interviews makes it sound like you feel the economy is in reasonable shape to go forward from here and you are expecting growth of five to 6% this year, is that correct announcement of your views? >> generally, yes. i would say that the economy at this point does seem to be in a bit of an inflation point and that makes sense with ever more widespread vaccinations, with strong fiscal policy, would continue support for monetary policy. you see the economy opening, you can see ridership on airplanes going up and people going back to restaurants. i think the march jobs report that we recently got shows wet that can look like, which was close to 1 million jobs in a month. so i think we are going into a period of faster growth and higher job creation and that's a good thing. i would point out, there a

coming up on the show, jerome powell says the u.s. is poised for stronger growth and the coronavirus remains the risk. this is bloomberg. ♪ >> actual progress. we are not looking out forecasts for this purpose but actual progress towards our goals. >> actual progress is not projected progress. >> we don't have to expect it. we have to see it. >> there is no textbook for this. you don't want to be too preemptive but we also don't want to be so reactive that we are late. >> that is what we are looking for, to see it in the data. >> hard numbers on the labor market and prices. >> -- particularly if you add in the revisions. we want to ca string of months towards that. annmarie: said leaders weighing in on what they are watching out for her to prompt a policy change. the u.s. economy is at an inflection point. the main risk remains a resurgence of the coronavirus. joining us now is bloomberg's senior issue economy reporter. what is the read on the economy? this interview he gave, he does not sound any different as opposed to his most rece

tom: jerome powell quotes the dow. jonathan: when they look at financial conditions they look at the dow? tom: no they do not. this goes back to my mother. she used to sit there with a martini in her hands screaming about the dow. jonathan: jonathan: coming up, julian emanuel l. -- julian emanuel. the family ate plan down in d.c.. no interest in arguing about the dow this morning. here we go, s&p 500, futures up three. tom: jonathan ferro faces formal probe over apartment refurbishment. jonathan: this is bloomberg. ♪ >> with the first word news, i'm rick took a gupta -- i'm ritika gupta. president biden will unveil a plan for childcare and families that will be paid for by the largest tax hike on wealthy americans in a decade. the child tax credit would be extended, meanwhile fund managers would lose their carried interest tax provision and the top tax rate for individuals would go back to 39.6%. fed chair jerome powell is expected to maintain aggressive support for the economy. fed policymakers wrap up a two day meeti

anna: jerome powell speaking about inflation.ng us this morning is chris turner, head of foreign exchange strategy, ing bank. the reaction that that soundbite implies, we know they will be data driven, they want evidence of inflation. he was referencing inflation expectations, and that is different from the inflation prints that we get. what will the role of inflation be in the fed reaction function? chris: a very good point, i think he made it clear in terms of substantial progress required before they start putting away the monetary accommodations. i think it is clear as well they want to see inflation be delivered, but the market underestimates employment, and it has not given that enough attention over the last 6-9 months. very dovish from the fed. interesting to see where inflation expectations in treasuries continue to rise while nominal rates are flat. real u.s. interest rates in the 10 year sector continue to fall, and that is creating an excellent environment for the dollar. mark: you say a negative environment for the d

federal reserve chair jerome powell holds a news conference later in the day to discuss monetary policy and the u.s. economy. that's live at 2:30 p.m. eastern. >> c-span's shop.org is c-span's online store with a collection of options. go there to order a copy of the congressional directory. leading up to mother's day, see our newest apparel. he will get a special discount on your purchase. >> nasa's crew one astronauts held a predeparture news conference yesterday, days before their scheduled splashdown in the atlantic ocean off of the coast of florida. the crew is now scheduled to return to earth saturday after weather conditions forced to delay in the original wednesday landing. this is about half an hour. [no audio] >> station, this is houston. are you ready for the event? >> houston, this is station. >> we are here, days away from wrapping up their mission and returning to earth. we have a few reporters lined up to ask questions. you can press star one to ask a question or withdraw. we will be taking questions from social media. let's jump right in. we will start with phone bridge.

he's somebody jerome powell has to theoretically listen to. they are really trying to get out after-the-fact. they need to see the final evidence before the act. how do you do that without market reaction? jonathan: do we play the transitory drinking get in -- drinking game in two hours? tom: we can do the transitory drinking game with anthony crescenzi. jonathan: we do that now. great to catch up. you have called it the great inflation had fake of the next couple of months. can you walk us through it? anthony: the inflation rate because of a decline in prices that were seen last year after covid hit, that decline will be met by year to yield gain. not the pce that the fed targets. of 2.2% or so. then, we see by year end moving down. it will climb we think by the end of 2022 to 2.2 2.2% cpi at the end of next year probably means a pce of something less than 2%. the fed has said it will not raise its policy rate until the inflation rate has been at 2% for about a year and shows signs of accelerating above 2% for some time. the market now lookin

kathleen: jerome powell speaking at night -- and a press conference after the meeting today. .he fed upgraded to the economy while nevertheless keeping rates at near zero levels. risk city outlook remains and he says they are not considering scaling back pandemic support yet. let's get analysis on the fed decision with someone who has been there, done that. princeton university professed -- princeton university professor alan blinder. as i said, you sat at the table, you helped make these decisions. for many years. would you be having any second thoughts about this steadfast decision the fed has made, inflation has to be high and accelerating, that is one of the two key that has to happen before the start reducing stimulus. do you see any risks there? alan: there is. i'm not sure about your and accelerated that you had. added it has to be above 2%. they have some catch up to do from the below 2% years. the fed is extremely cagey about how much catch up there is. i think that is entirely appropriate. my opinion is that until it gets into the upper -- upper two's, if that ever ha

jerome powell says u.s. is posed to struggle as the covid-19 remains a threat. australia abandons its vaccine targets. the prime minister concedes not everyone will get their first jab by the end of the year. shery: u.s. futures at the moment under pressure after markets ended. another day at record highs. the s&p 500 surpassing the 4100 level. we have a few things to keep an eye on this week, with earnings season kicking off. jp morgan, morgan -- jp morgan, oldman. in the spotlight. blackrock, pnc, some others that you have to watch this week. let's turn to sophie kamaruddin in hong kong for a check of the markets. sophie: this monday, asian futures are signaling to gains. chip related stocks in focus after ev battery makers in south korea managed to reach a last-minute settlement in the u.s. presser. the way have and on the chip shortage later on monday. -- the white house on the chip shortage later on monday. osaka and okinawa from monday. the yen, 68. holding on to a weekly gain. the aussie dollar training flat out of the first week. seeing hedge funds turni

now to the economy and fed chief jerome powell on "60 minutes" saying he thinks the economy is poised to take off. >> what we're seeing now is really an economy that seems to be at an inflection point because of widespread vaccination and strong fiscal support, strong monetary policy support. we feel like we're at a place where the economy is starting to grow more quickly and job creation coming in more quickly. >> charles: so are we out of the woods? the fed chief says it's highly unlikely that interest rates will go up this year despite the signs of inflation. i want to bring in former dallas fed adviser, dallas dimartino booth. we had the st. louis fed chair saying 75% vaccination could be the point where the fed starts to take away the punch bowl. i don't know if he spoke with jerome powell before making that statement, because every day last week over the weekend, the fed chair trying his best to let everybody know, particularly wall street, he's going to stay accommodated for a long time to come. can he? >> i think that charles -- first of all, thank you for having me. jay powel

not only what did you learn they are, but how does it change the pressure for jerome powell april 28?ichael: i think it helps relieve some of the pressure. you guys did a great job. i may not even ask a question. tom: i like that. continue. michael:michael: michael: michael: the thing that struck me -- michael: the thing that struck me as the confidence with which he and jay powell in his previous comments speak about being able to contain inflation if it goes up, and that enabled them to let the economy run hot. he didn't give any specifics. jon, you really beat on them for it, and you didn't unfortunately get it. which is by design. they don't want the markets to have a checkpoint to say this is the point at which they are going to do this. they are delivering this message over and over again with supreme confidence, and that has begun to sink into the bond market. you can see how yields have stabilized. they are believing that the fed has the credibility here. jonathan: we had this conversation with tom porcelli of rbc. there is a frustration from the fed watchers that they don't h

on "60 minutes" tonight fed chair jerome powell tells cbs's scott pelley the economy is set to bounce back with growth in jobs. and this weekend a new vaccine milestone, a record 4.6 million shots were administered saturday which means nearly 71 million americans are now fully vaccinated. but some states are still in trouble. cbs's lilia luciano is in los angeles and leads us off tonight. >> good evening, jericka. here in los angeles the county is micking-- picking up the pace to vaccinate as many people as possible. so far they have given out almost five million shots but across the country health officials are bracing for vaccine shortages and possible surges. >> one shot and one shot only. >> a shot of relief as los angeles expands vaccine eligibility to include anyone 16 years or older. california joining other states doing that to beat back the virus as fast as possible. >> we need to get in the habit of trying to surge resources into those hot spots to put out those fires that spread. >> those flames spreading to michigan, the nation's latest covid hot spot. on "face the nation"

federal reserve chairman jerome powell is optimistic for a strong economic recovery in the u.s., that he believes the recovery will be short-lived unless more people in developing nations are vaccinated against covid-19. more than a third of all u.s. residents have received at least one vaccine dose, in some countries, only one out of every thousand people have gotten one. the ballots are still being tallied, but the effort to unionize an amazon warehouse appears to be headed for defeat . the county got underway yesterday, half of the roughly 3200 votes have been counted so far. 1100 are no and 463 are prounion. the count is scheduled to resume later today. what is your cbs money watch report, for moore, head to cbs money watch.com. >>> we are learning more about governor newsom's plan to get california fire ready. it includes half $1 billion towards combating future wildfires. >> we got to do more in terms of forest management, in terms of vegetation management, getting into our forests, more suppression strategies, more prevention strategies, more regional, long-term, medium- term,

>> i feel very much on the same page of jerome powell, thinking about slack in the economy and how thatill play into inflation pressures. he mentioned 8.5 million unemployed. that is basically the number if we compare the level of employment in the economy now compared to last year before the pandemic began, nonfarm payrolls are about 8.5 roughly lower than where they were at that point in time. to put this into perspective, coming out of the global financial crisis, that deficit was actually 8 million, so despite the dramatic job gains we saw in the march employment reports and over the last couple of months, we are still in worse shape, basically, compared to where we were coming out of the last recession and certainly coming out of the last recession , that was not in the inflation environment, so the fed was embarking on balance sheet expansion and whatnot. the inflation never came, and i think jay powell is very much on the same page realizing things may have changed to some degree during the course of this crisis, and we all realize working remotely is may be more viable than we t

remember jerome powell says he can keep rates steady in the market.at least three rate hikes so who is right? he is the world's richest man. he is cool with higher corporate taxes but a whole lot of people are saying jeff bezos, sit down. would higher corporate taxes really mean for the economy and your portfolio. that is coming up. ♪♪ (car horn) ♪♪ turn today's dreams into tomorrow's trips... with millions of flexible booking options. all in one place. expedia. living with metastatic breast cancer means being relentless. because every day matters. and having more of them is possible with verzenio, the only one of its kind proven to help you live significantly longer when taken with fulvestrant, regardless of menopause. verzenio + fulvestrant is for hr+, her2- metastatic breast cancer that has progressed after hormone therapy. diarrhea is common, may be severe, or cause dehydration or infection. at the first sign, call your doctor, start an anti-diarrheal, and drink fluids. before taking verzenio, tell your doctor about any fever, chills, or other sig

chairman jerome powell said the economy can't fully recover until people are confident it is safe to resume activities involving crowds of people. >>> microsoft changing default font for the first time in 15 years. in 2007, calibri replaced times new roman. microsoft is letting users weigh in on the next one with five to choose from. it will be evaluating the feedback it gets over the next few months. that's your cbs money watch report. for more head to cbsmoneywatch.com. i am diane king hall. >>> fire watch now, it is only april but fire crews are battling a 650-acre fire burning dangerously close to homes in northern los angeles county. flames outside of santa clarita, sheriffs deputies drove through with a loud speaker ordering families to get out. conditions are sigh dry all over the state. experts are predicting this can be a disastrous fire season. we need thmoisture but dry all we are so across the bay area and enter state of california under a drought. this is a big concern especially as we head into the summer and wildfire season. here is a live look with our sales force tow

kathleen: jerome powell and his colleagues upgraded their assessment of the u.s.conomy but said they were not yet ready to consider scaling back pandemic support. policymakers signaled the risks from the pandemic are diminishing. let's bring in michelle girard. it's great to have you back. we have been watching the federal reserve for about the same number of decades now. [laughter] this is different, right? michelle: exactly. kathleen: don't worry what the numbers are saying now. just wait until we tell you it's time to worry. michelle: and also, there's no worry about a strengthening. the fed has been very clear when they are talking about the inflation outlook and inflation risk. it takes policy to ensure that inflation doesn't go up. it's a whole different fed now. the fed has changed its approach. is going to tolerate and inflation overshoot. it can allow the economy to run hot. without feeling the need to take action. it's going to wait until inflation rises. it won't move preemptively. the message was, we still have a long way to go before we can think abou

discussion about economic policy with global financial leaders including federal reserve chair jerome powell. the discussion is 50 minutes and begins with remarks by the imf managing director. >> it is great to be bringing some good news. we have upgraded the growth projections for the world to 6%, and it is on the basis of three things. one, vaccinations advancing, two, major economies putting in more stimulus, and the united states recently did that, and three, lockdowns do not cause the same decrease in economic activity, but there are two things to watch.

federal chair jerome powell says the economy is at an inflection point and he expects growth and hiringo pick up in the next few months. powell said he doesn't expect to raise the fed's benchmark interest rate this year. alexrodriguez and are buying the minnesota timber wolves. the sale also includes the wnba team, the minnesota lynx. rodriguez and lori come aboard in the next two years. that's your money report. head to cbs money watch.com for more. >>> back here in the bay area, a look at the local bridges. as more things open up, increased traffic is partly to blame for the prices increasing at the pump. prices are now around $4 a gallon. san francisco and napa are over the $4 mark. san jose and sanda cruz are a little below the $4 line. all of the prices are about $1 higher than a year ago during the shelter in place. high gas prices did not stop people from driving to oakland's lake mary over the weekend. city officials say in addition to coronavirus risk, the dramatic increase in visitors to the lake has caused parking safety and noise. >>> let's get a check on the forecast with m

that move coming after fed chairman jerome powell said there are signs of froth in the market signaling interest rates at historic low levels. in focus for traders and investors today reports on unemployment and housing as well, but it's also the busiest day of the earnings season with corporate results coming in from comcast, of course the parent company of nbc universal, as well as caterpillar, mcdonald's, amazon and twitter just to name a few. >>> watch shares of apple today. profits there more than doubled in the company's most recent quarter. that's on continued strong demand for the iphone as people upgrade to 5g wireless technology and bought new ipads for working and learning. apple does say the global shortage of computer chips could hit sales this quarter primarily affecting the mac and the ipad. and verizon is exploring a sale of its media assets including yahoo and aol. "the wall street journal" reports business could be worth up to $5 billion. verizon, though, did pay more than $9 billion combined for aol and yahoo together but the digital media has failed to reach goals. v

today wall street will listen closely to remarks from federal reserve chair jerome powell about the central policy moves. meantime, stock futures are a mixed open after a choppy d d dor all three major indices. the dow ultimately rose three points. the nasdaq fell 48. the s&p 500 shed nearly one point. >>> the deadline for americans to get the more secure real i.d. needed to board flights has been delayed. people now up have an extra 19 months to genefly.the dertment security extended the real i.d. deadline to may 3rd of 2023 due to the pandemic. people initially had until this october to get it. once full enforcement of the real i.d. goes into effect, americans 18 and older will need one to go through security and board a plane. it will also be required to enter many federal buildings. >>> comfort is king and shares of crocs climbed 64% in the first quarter, topping $460 million. the folk clogs saw record demand from shoppers seeking cmfortable footwear during the pandemic. quest love even wore some that had been spray painted gold for the academy awards. >>> our health care heroes are in

. >>> federal reserve chair jerome powell will talk about the economy this afternoon following the latestfederal open market committee meeting. watch live at 2:30 p.m. eastern on c-span3. online at cspan.org or listen live on the free c-span radio app. >>> as he approaches his 100th day in office, president biden will give his first address to a joint session in congress tonight. our live coverage begins tonight at 8:00 p.m. eastern with the president's address at 9:00 p.m. eastern. online at cspan.org or listen to the c span radio app. >>> health experts testified on air travel safety amid the coronavirus pandemic. it runs 129 minutes. >> we have a history of tradition, and i plan to continue that tradition as chair.

the international monetary fund hosted debate on the global economy with federal reserve chair jerome powell and imf manage director christalina live at noon eastern on c-span. then at 2 p.m. house speak speaker nancy pelosi speaks to reporters about the legislative agenda when congress returns next week. at 4 p.m. a discussion on potential changes to the federal court system from the american constitution society for law and policy. and on c-span2 at 10 a.m. eastern, day nine of the trial of former minneapolis police officer derek chauvin who is charged in the death of george floyd. ♪ ♪ booktv on c-span2 has top nonfiction book and authors every weekend. saturday, at 8 p.m. eastern, columbia university law professor jamal greene looks at america's approach to individual rights in his book how rights went wrong. why our obsession with rights is tearing america apart. saturday, at 9 p.m. eastern green state university philosophy professor talk bs free speech and free exchange of ideas in his book why it is okay to speak your mind. sunday, at 9 p.m. eastern, on afterwards, in her new book ever

jerome powell says economic forecasters already see this happening. i wonder if the optimism level changes the presidents priority in the plan at all and offers more wiggle room for negotiation in certain areas? jen: we don't need as many jobs? reporter: if the goal of the plan is to create jobs and stimulate the economy, they say that's already happening. if you want to scale back on some of the items because we are already seeing growth? jen: i regularly watch 60 minutes, but i did not see the whole episode and don't have the context of his remarks, but part of what economists feel is we are still behind, that we still need to do more because if you look at our last jobs report, we were are still about a port -- about 8.4 million jobs in the red that we need to create, americans that we need to put back to work. there are still parts of the american population with high levels of unemployment among african americans, latino americans, asian americans that we need to address. this is a jobs package, hence the american jobs plan, but what it also help

federal reserve chief jerome powell warns many of them may never return or we're not going back to the same economy this will be a different economy and one of the things we hear from from companies is that they've spent a lot of time since the pandemic arrived looking at ways to have more effective technology and perhaps fewer people so you're going to see some of that in these public facing jobs so there will be millions of people who have a hard time finding their way back into the workforce and recovering the lives that they had just a year ago according to the u.s. central bank 40 percent of americans don't have enough money to pay a $400.00 bill in an emergency and even before the pandemic some 37000000 americans couldn't afford to buy enough food for the country's poor covered 19 has dealt an especially heavy blow now a top german lawmaker has rejected tesla's claim that the country's peer rock recy is slowing down innovation the us electric car maker says administrative complications are delaying the construction of its new factory outside berlin and that germany is at risk of

on 60 minutes tonight fed chair jerome powell tells cbs's scott pelley the, america is ready to bounce back. and this week, a new covid vaccine milestone. 4.6 million shots were administered saturday. which means 71 million americans are now fully vaccinated. but some states are still in trouble. >> reporter: good evening. here in los angeles the county is picking up the pace to vaccinate as many people as possible. so far they have given out almost 5 million shots. but across the country, health officials are bracing for vaccine shortages and possible surges. >> one shot, and one shot only. >> reporter: a shot of relief as los angeles expands vaccine eligibility to include anyone 16 years or older. california joining other states doing that to beat back the virus as fast as possible. we need to get in the habit of trying to surge resources into those hot spots to put out those fires that spread. >> reporter: those flames spreading to michigan. it's the nation's latest covid hot spot. on face the nation, the governor said her state needs more doses. >> i don't think there is a governor

jerome powell will speak at the imf. spring meetings are usually a big deal in washington, d.c.tant when held virtually? mark: i think they are just as important, but i am not convinced powell changed the game. we kind of know what he will say, the same message. matt: he came straight out and said it. mark: i do not see how it will change things. you asked what the catalyst is, the answer is, i do not know what the catalyst is. that normally is a good sign. i am worried about the complacency generally, but i do not see anything that will derail the good mood in the next 48 hours. maybe the next inc. to watch is talks around the iran -- maybe the next thing to watch is talks around the iran nuclear deal. matt: i keep hearing the germans will come out with a plan to get vaccines into a substantial number of people. the chance of that happening soon as low. mark: i think sadly it is low. the eu is behind on vaccinations compared to the u.s. and the u.k., and that is unlikely to close the gap soon. it does not matter that they have supplied, that is not a big issue. there is a probl

that it's not just up to janet yellen and the treasury secretary it's not just up to people like jerome powell that the fed chair that you as an individual have the power to decide what has value and what doesn't i think that's the thing he likes it out it's almost like a rebel currency and so listen we could also describe lots of different crypto currencies this way but seems to be the one that he is most fond of and by the way mark cuban also seems to be extremely. fond of don't quit as well you're constantly tweeting about it so it is not a question of why do why not that's what they were talk about actually later in the show is things that have value because you decide it has value and yes really all value works christiane obviously the coin base they view on nasdaq has had was huge news this week but as part of that celebrity stock ticker kathy woods is arc funds bought more shares of korean base worth about $110000000.00 a day after that nasdaq debut what signal does this send to the rest of wall street about the crypto industry. i mean it kind of sounds a message that this is the real d

and us federal reserve chair jerome powell has once again said the central bank will likely keep its loose monetary policy until the end of 2021 this easy policy includes keeping short term borrowing rates near 0 and continuing $120000000000.00 per month in bond purchasing put in place early last year the comments from the fed chair came during an interview with c.b.s. the 60 minutes which aired sunday where he also addressed the increasing concern about inflation as a catalyst for an eventual rate hike comments echoed what he said during a round table of it hosted by the i.m.f. last week. if it turned out that inflation and particularly inflation expectations were to move up materially in a way that suggested that. they were being heard and that inflation might move persistently well above 2 percent we would react of course that would be our job one of our 2 mandates is price stability the other is not some employment we don't think that's the most likely outcome but we do have the tools to deal with that outcome we will use them to use to guide to guide inflation back to 2 percent

more details about how jerome powell will raise rates, next. is bloomberg. ♪ haidi: fed chair jay powell says the u.s. economy is at an inflection point. the growth in hiring. he spoke with david rubenstein about the path to rate hikes. >> we have said we would expect to keep interest rates where they are today until three particular outcomes are achieved in the economy. the first is the recovery in the neighbor market -- in the labor market is complete. the second is that it has reached 2%. the third thing is that inflation is on track to run a moderately above 2% for some time. those are the tests. so, we will focused on the progress of the economy toward those goals. not in a particular timeframe. we get those three boxes checked, that is what we will consider raising rates. until then, we will not. what you're referring to, i think, is we are down these projections every quarter and the march, june, september meetings. we write down individual projections, we meet those. most members of the committee did not see raising interest rates until

. >> federal reserve chairman jerome powell talked a