host: what has jerome powell said? has he shown his cards? guest: if you can read between the lines, they have a language of their own where you can get a lot of value. they had a meeting in the middle of december and a press conference after that. what was clear is they don't have a plan right now. they still want to cut interest rates in 2024 but they are not ready to declare victory. at the same time, if you look at the projections of the actual members, they pretty much all expect to see rate cuts in 2024 and expectancy low inflation this year and steady growth. if you look at what they write down their forecast, it's a pretty benign outlook, things look pretty good. that's a projection and projections are not worth the paper they are not printed on. host: we usually cover the conference jay powell holds after he meets with the federal reserve board members. you are listening to him and thinking what? what did he just say? at the next one, what should our viewers be listening for, what are the keywords to help them read between the lines?

we will see what jerome powell has to say. and the ipo outlook on the heels of fourth-quarter earnings. that is coming up. i am katie garfield in new york. welcome to bloomberg markets. you take a look at these markets and a sea of red behind me. the s&p 500 is down by .7%. some of those big tech names took the stage last night and did not live up to the hype. you are seeing that in the nasdaq 100, off by 1.2%. it gets worse as you go down because we have the philadelphia semiconductor index off by about 1.4%. we heard from amd yesterday that had been the second-best performer in the index this year. not anymore. the two year yield currently down 12 basis points. we have the fed decision coming up in a few hours. it seems like people are recalibrating their bets right now. it has been a disappointing earnings kickoff for big tech. google and microsoft are down following yesterday's results as both companies struggle to meet expectations when it comes to ai. it feels like for microsoft it is an interesting story because they di

very routine profit-taking. >>> here comes fed chair, jerome powell. >> good afternoon.eagues and i remained squarely focused on our dual mandate to promote maximum employment and stable prices for the american people. the economy has made good progress toward our dual mandate objectives. inflation has eased from its highs without a significant increase in unemployment. that's very good news. but, inflation is still too high. our ongoing progress in bringing it down is not assured, and the path forward is uncertain. i want to assure the american people that we are fully committed to returning inflation to our 2% goal. restoring price stability is essential to achieve a sustained period of strong labor market conditions that benefit all. today, we decided to leave our policy interest rate unchanged and to continue to reduce our securities holdings. over the past two years, we have significantly tightened the stance of monetary policy. our strong actions have moved our policy rate well into restrictive territory. we have been seeing the effects on economic activity and inf

host: what has jerome powell said? has he shown his cards? guest: if you can read between the lines, they have a language of their own where you can get a lot of value. they had a meeting in the middle of december and a press conference after that. what was clear is they don't have a plan right now. they still want to cut interest rates in 2024 but they are not ready to declare victory. at the same time, if you look at the projections of the actual members, they pretty much all expect to see rate cuts in 2024 and expectancy low inflation this year and steady growth. if you look at what they write down their forecast, it's a pretty benign outlook, things look pretty good. that's a projection and projections are not worth the paper they are not printed on. host: we usually cover the conference jay powell holds after he meets with the federal reserve board members. you are listening to him and thinking what? what did he just say? at the next one, what should our viewers be listening for, what are the keywords to help them read between the lines?

the last president was critical of jerome powell and the fed and its moves. you think of the pressure if he returns to the job? that's a different kind of pressure, isn't it? >> we are an independent institution and we value that independence. history has shown the independence is important. they have views about what we should do, it is critical that we keep our head down, do the basic blocking and tackling and make sure we get the best judgments we can what the trajectory or policy needs to look at. if we do that the economy will go where it needs to go. we have stronger employment growth and the economy will be stronger, more resilient and more americans living in a more prosperous way. neil: easy for critics to play monday morning quarterback. the lowest in 28 years, housing starts are stumbling and that despite lower mortgage rates we've seen the last couple weeks and i am wondering whether you look back at that and say maybe we did go too far? >> history will be the judge of that. i'm nervous all the time. i'm worried there's a new thing happening, that

the market is expecting jerome powell to leave interest rates unchanged this month, however, more interestank outlook for rate cuts as inflation looks to be tapering off in the world's biggest economy. an economics professor talked me through his expectations.- talked me through his expectations. we are in a lukewarm _ expectations. we are in a lukewarm economic - expectations. we are in a - lukewarm economic environment. we have seen a significant moderation and of inflation figures. the growth has remained reasonably strong rather than a softening substantially as a result. it is unlikely that the fed will move at this stage because the data does not provide any impetus for them to go ahead and cut rates.— and cut rates. the mandate is to always _ and cut rates. the mandate is to always safeguard _ and cut rates. the mandate is to always safeguard every - to always safeguard every focused on inflation and underemployment. what does that tell us about what the fed is thinking? tell us about what the fed is thinkin: ? , . ., tell us about what the fed is thinking?— tell us about what the f

we want to hear what jerome powell has to say.is is a monetary experiment i've never seen in my career. katie: does it truly matter to the markets whether those rate cuts start in march or may or june? david: they can be very impatient. i go back to the fed just keep delivering this 3% or lower inflation. all good things will come to that for companies and their ability to create shareholder value whether it sooner or later. less material to me it's probably in the works. katie: that is the portfolio manager over at angkor advisors. walking us through what will be a very consequential week, kicking off after the bell today. jonathan: joining us is the gm ceo mary barra on the latest. the general motors chair and ceo talk to us now. a story to tell this morning. let's start with that story. what's underpinning these high profits for 2024? mary: if you look at the strong 2023 results we have very strong internal combustion engine sales and strong ev sales, but as we go into 24 we will build out that strength and think 24 can be a st

the market is expecting jerome powell to leave interest rates unchanged this month, however, more interestas inflation looks to be tapering off in the biggest economy. an economics professor talked me through his expectations. we are in a lukewarm economic environment. and we have seen inflation figures. at the same time, growth has remained reasonably strong, rather than softening substantially as a result. it is unlikely the fed will move at this stage because the data does not provide any impetus for them to go ahead and cut rates. the feds mandate is always to safeguard or be focused on inflation and unemployment. what does that tell us about what the fed is thinking? a little bit of a wait and see and a data reactive approach. a lot of market participants would rather have more definitive signals but i generally believe this is the best course of action if it can take at the moment because they are so reliant on understanding the extent to which inflation has been tempered down, both looking at possibly boosting up the economy a bit if it is to slow down a bit too rapidly. big day ahe

we had a bright spot the end of the year jerome powell announced the punt much bowel.ble year for stocks. the worst bond market since 1928. stocks and bonds are supposed to cancel each other out. that is not what happened. low inflation on top of it, the average american lost a quarter of their retirement. that is about $30,000. they didn't have that much to begin with. most americans do not save enough for retirement. people will look at delayed retirement, at least a couple years. my colleague estimated up to a decade for millions of americans. cheryl: peter thank you for the perspective this afternoon. happy new year, thanks for being here. >> thanks, cheryl. cheryl: all right. wall street seeing unemployment rising in 2024 but the question of a soft landing still up for debate. i want to bring in macro policy perspectives senior advisor constance hunter. so good to see you, constance. >> good to see you too. cheryl: where do you land and stand on this debate right now? >> yeah we see unemployment rising a little bit over the course of this year. that is in part bec

in the absence of dovish commentary from the fed claire jerome powell, how do you think markets will react? >> thanks, joumanna, for having me. i think that the main event will be a nonevent. where i think there could be some interesting commentary is in the q & a. when jay powell actually answers questions to the press, he then sort of breaks script and you'll get a sense of where the mind-set is. we've got from no rate cut in massachusetts to a full rate cut priced into now less than 50-50 to now, you know, negligible. so i think our base case scenario is we're probably going to see a rate cut in may, probably june, and you'll -- then it'll come through in the q & a session with powell. >> rami, when you think about your investment thesis for 2024, to what extent is that contingent on the fed actually delivering on the rate cut expectations, on the four or five rate cuts pencilled into the market at this point? >> listen, that's a great point. the -- right now the market is stretched in the sense that it's quite aggressively pricing in rate cuts. we still see positive earnings yiel

i'm not saying i think jerome powell will do that but, boy, is the pressure there.h a question about government debt. >> right here, charles. good be to here again, charles. charles: thank you. >> what will it take for our leaders to make meaningful reaction to lesson the u.s. debt? what will impact of 10,000 baby boomers retiring. social security medicare. charles: i don't think they will ever address it. i think they give it lip service. i think take proverbial going off the cliff t will have to take something cat chris i can. cataclysmic. brian, what do you think? >> charles, i totally agree with you unfortunately. i wish -- you know what is interesting to me, congress knows, these are not dumb people. they're around all kinds of analysts in washington that tell them medicare, medicaid, social security, are all heading for that cliff that you just talked about. we could do things to fix it but it seems like politicians just because they think in two-year time frames they never worry about it. they just kick the can down the road and let some future generation wor

las exportaciones e importaciones, la reserva federal se reunirÁ el 30 y 31 de enero, y su jefe jerome powellesoro en chicago agregÓ mÁs cifras. la confianza de los consumidores se elevÓ un 29% desde noviembre, el aumento mÁs alto desde 1991, dijo la secretaria del tesoro. expertos insisten en la importancia de que el congreso y el gobernÓ federal lleguen a un acuerdo para reducir el gasto pÚblico. reportero: el profesor sergio urzÚa agrega que en un aÑo electoral muchos polÍticos van a rehusarse a reducir el gasto, esto podrÍa poner en aprietos las decisiones de bajar intereses. ilia: ahora hablaremos de cifras escalofriantes es sobre violaciones sexuales en menos de dos aÑos, un estudio revela que se registraron casi 520,000 violaciones en el paÍs y que en 14 estados donde el aborto es prohibido mÁs de 64,500 mujeres y jÓvenes quedaron embarazadas como productos de las violaciones. claudia: las historias de violaciones sexuales se escuchaba cada vez mÁs en el consultorio de este doctor, por eso decidiÓ investigar. explica que fue horrible escuchar sobre un incidente, pero despuÉs te das cue

inflation rate that we got before the meeting began next week's, does this change anything for jerome powellnd company? >> no i don't. i think it's a modest improvement in well above the 3% target. so the discussion will continue to be not whether but went to lower rates. i think the issue of march will become more controversial and onto may will be the more likely discussion the numbers came down but only modestly in the gdp number was above expectations as you said 3.3% annual rate, those are very good news, it also means it shouldn't be in quite a hurry to reduce rates. cheryl: the rate cut discussion, the push and pull between the market in the fed is very interesting. one point it's not the stock market this would push the fed to start to cut rates it's going to be the treasury market that is going to actually push the fed to act, what do you think. >> i think that's the real issue, part of it they would like to lower rates but the amount of debt that has to be financed is enormous, $500 billion on an average basis, who's going to fund that, we know the international side is falling in

fed chair jerome powell said it's unlikely the central bank will begin cutting rates at its next meetinghat sent stocks tumbling, including the nasdaq, which fell more than 2%, while inflation has cooled over the past year, l too high for many americans. in tonight's "money watch," cbs's nancy chen takes a look at the skyrocketing cost of rent. >> reporter: matt wheeler was looking forward to finally getting a place of his own, when he started searching for an apartment in providence, rhode island. what was your reaction? >> disappointment. i sort of felt like i was working to a point when living by myself was going to be financially within reach, and then just sort of finding that it was going to continue to be a budget stretch. >> reporter: ethan was a position at prestigious brown university, the 33-year-old ended up settling for a studio apartment. >> to be in my 30s, working a professional job come and having the aborted t 241 bedroom apartment, it doesn't feel like i'm begging for largess here and yet it also feels so on a tale unattainable. >> reporter: while rent has been easing

jackie: it is not about jerome powell. he had to raise hates -- rates to deal with it.ee years, they do these knee-jerk things, many spending and inflation at 90%. sticky inflation in the economy right now is so angering to me and you have to hike the rates to get people to lose their jobs to make it stop, why? >> jackie is telling us one of the reasons we had better-than-expected economy is increased government spending. last year the economy grew 10.4% but government spending is only 4%. where is the growth in the private sector coming from? healthcare. who cares their issue pays for healthcare? this is an investment spending. with that coming from? 's from cities for green energy and evs and the light, the fastest-growing segment there was a, believe it or not, business structures building for microchip companies, microchip companies are getting subsidized by the government. stuart: if we run out of excess cash by march or april or spring, that implies going into recession and inflation will come down. >> will come down the hard way through recession. stuart: the fed

. >> i am going to let you go, treasury secretary, and you have sat in jerome powell's office to make the decisions that he about to make, and the jobs report out today, and how do you think that is going to impact his decision of when to cut the interest rates? >> so, i won't comment on what the fed should do or is likely to do. i think that the path of the labor market and the economy and the labor market have made a set of good decisions, and we will get more inflation data if it is staying down is good for the fed, and something they will take into account in their future rate decisions. >> i am also sure they appreciate you not commenting much further than that. treasury secretary janet yellen, thank you very much. >> thank you. >>> i asked john berman, delivered. you did good, john. >>> all right. oscar pistorius, the double amputee and convicted murder is out of prison and why he was freed after killing his girlfriend and what her family is saying about that. >>> plus a study finds that two popular weight loss drugs could boost t your m mental healalth well. . we will l explain

nudging banks don't make loans to bad companies like oil, and they will be ready to swerve, if jerome powell is great, he should be an actor, he -- two years ago he said, the knew paul volcker he would crush the economy. larry: if they -- >> now he is arthur berns. >> how the humanitarian do hell do they too there are job. >> they can't do it, defense department one woke. >> they need intellectual diversity. >> you -- you wouldn't make dei, i wean none of us, coming up, talk about donald trump, nikki haley and fani willis a boyfriend with mark simone and joe concha, a lot more to do, dei i love your dress. oh thanks! i splurged a little because liberty mutual customized my car insurance and i saved hundreds. that's great. i know, right? i've been telling everyone. baby: liberty. did you hear that? ty just said her first word. can you say “mama”? baby: liberty. can you say “auntie”? baby: liberty. how many people did you tell? only pay for what you need. jingle: ♪ liberty. liberty. liberty. ♪ baby: ♪ liberty. ♪ jorge has always put the ones he loves first. but when it comes to caring for his

if you think back to what we heard from jerome powell at last month's fed keeping -- fed meeting, heo be particularly different. how a zero to from the u.s. at this juncture? sonja: the basis for inflation in europe and in the u.s. is different. this has been the case ever since we saw that pickup in inflation. we in europe were more dependent on energy imports. we had a huge issue with energy prices. in the u.s., the big driver was the labor market. the u.s. economy slowing down somewhat, some pressure will be taken off. in europe, the problem is we had a long period of high inflation. the second round effects are still filtering. all of that is going to be crucial. he signaled the ecb will want to send in that environment is still pushing back. later than the fed, not with the market is currently expecting. guy: the dollar? everybody has dismissed the dollar for 2024, yet first couple of days, it pops out. sonja: just a few weeks ago, the narrative was different. it is been incredibly volatile, yields have gone up and down like a seesaw. it is too early in the year to see which way

how are her inflation challenges different from those of jerome powell?there are not too many differences in terms of the challenges because in both cases, you have a strong labor market. and the question is are -- is the fed and ecb, are they taking a different approach to those strong labor markets. we had a clear message from christine lagarde at the last ecb meeting that domestic inflation pressures were a concern. that full employment and ongoing labor market pressures were a concern. and that is why the ecb is cautious and why they are not talking about rate cuts. the fed's view seems to be we are getting a soft landing and inflation is coming down. we are not too concerned about labor market strength. i would note what happens to wage growth tomorrow. we saw for the november payrolls report and earnings up stronger than expected. that could be a concern going forward. lisa: that was the high point -- tom: that was the high point of your research. if you take hourly on -- hourly earnings i bring it over to wages and benefit. it is the efficacy for y

interest rates this year as market expectations put pressure on the likes of andrew bayly and jerome powellng on at the moment, isn't it? it is. the uk is the first to feel the changes, will see a similar thing emerging in the us. the theme from central bankers is they don't want to move too soon, because if you got too soon, because if you got too soon inflation returns, that makes yourjob a lot harder. what we are seeing from yesterday is volatility, we started the thinking we get cuts as early as march in the us and maybe may in the uk, we will get cuts this year, just not as early as we thought. it is interesting, gita gopinath sang thejob is not done is interesting, gita gopinath sang the job is not done when it comes to taming inflation. what is your prediction when rates might come down both in newgate and in the us? i rates might come down both in newgate and in the us?- newgate and in the us? i think ou will newgate and in the us? i think you will see — newgate and in the us? i think you will see the _ newgate and in the us? i think you will see the second - newgate and in the us?

host: what has jerome powell said? has he shown his cards?st: if you can read between the lines, they have a language of their own where you can get a lot of value. they had a meeting in the middle of december and a press conference after that. what was clear is they don't have a plan right now. they still want to cut interest rates in 2024 but they are not ready to declare victory. at the same time, if you look at the projections of the actual members, they pretty much all expect to see rate cuts in 2024 and expectancy low inflation this year and steady growth. if you look at what they write down their forecast, it's a pretty benign outlook, things look pretty good. that's a projection and projections are not worth the paper they are not printed on. host: we usually cover the conference jay powell holds after he meets with the federal reserve board members. you are listening to him and thinking what? what did he just say? at the next one, what should our viewers be listening for, what are the keywords to help them read between the lines? gue

she had a different tone than jerome powell.st say there will be no rate cuts. jonathan: we've heard that this morning on the federal reserve. let's continue the conversation with adena friedman from the nasdaq, good afternoon. let's talk about the transformation of your business, a lot of work has been done and a lot of our audience typically think of you as listings in exchange. let's talk about what you are about to become. >> our markets are the foundation they always will be. they are incredible part of our business but what we been able to do is expand our relationships with their clients across liquidity. how do we bring liquidity to markets around the world to make sure liquidity is greater? how do we help our clients manage risk so they can bring more to markets. transparency in terms of helping investors manage their investment strategies and integrity and that's where we have our anti-financial crime suite so we can help the banks and brokers manage the integrity within the financial system. we've gone all in across t

and interestingly, jerome powell, previous press conferences has been quite clear in his indication ofhe other way around?— get over excited or the other way around? that's right. with eaui way around? that's right. with equity markets _ way around? that's right. with equity markets that _ way around? that's right. with equity markets that is - way around? that's right. with equity markets that is very, i equity markets that is very, very high levels, the risk of re—stoking the fires of the economy before inflation has really got down to about 2% target i think is perhaps a step too farfor them target i think is perhaps a step too far for them and they will again really try and push back and say yes, we probably will be cutting this year but maybe not as much and as quickly as the market is currently discounting. james, who will let _ currently discounting. james, who will let you _ currently discounting. james, who will let you get _ currently discounting. james, who will let you get to - currently discounting. james, who will let you get to bed, i who will let you get to bed, never v

course we are going to get more clarity, hopefully next wednesday, when we hear from the man, jerome powell, himself. i want to talk about the forecast. you made years on december 11, which feels like a long time ago. how flexible is the target as you move through 2024? john: we have to think the likelihood that, based on where we are right now, that we could see at some point, sooner than later, that target exceeded -- our discipline calls for us to wait for our target to be arrived at at a closing price for the s&p 500. even if we crossed it on the intraday, it would not have much effect. if it closed above 5200, we would look at it at that point and then consider where the economy was at that point, where the fed was, look at corporate revenues and earnings guidance that we were seeing, what the housing market was doing, and either consider leaving it where it was, or tweaking it in either direction from there. katie: you are sticking with us. let's get a check on what is moving in these markets with bailey lipschultz. what have you got? billy: with american airlines, we are seeing a big

nudging banks don't make loans to bad companies like oil, and they will be ready to swerve, if jerome powells great, he should be an actor, he -- two years ago he said, the knew paul volcker he would crush the economy. larry: if they -- >> now he is arthur berns. >> how the humanitarian do hell do they too there are job. >> they can't do it, defense department one woke. >> they need intellectual diversity. >> you -- you wouldn't make dei, i we none of us, coming up, talk about donald trump, nikki haley and fani willis a boyfriend with mark simone and joe concha, a lot more to do, dei at the fed,! my god. that advances innovations like robotics. fresh, warm hot dogs, straight out of my torso! one for you, one for you. oh, you're a messy one. cool, right? so cool. anyone can become an agent of innovation with invesco qqq, a fund that gives you access to nasdaq-100 innovations. hot dogs! fresh, warm hot dogs! before investing carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com. (man) what if my type 2 diabetes takes over? what i

the fed funds futures, expecting cuts and jerome powell, what he said as far as cuts go.hose are the news items i think are big for this week. >> get more the fed outlook in a moment with inflation. in terms of earnings do you think the estimates that are appropriate? they are a bit more bearish on the outlook for the numbers. >> the thing is that we have had resilient demand. i do not know at what point the resilient demand falls off because i think the anomaly of the post-covid economy is the exacerbated wealth gap of the bifurcated economy, 60% of the u.s. living paycheck-to-paycheck and putting things on increasingly honest credit cards -- increasingly onerous credit cards. the spending is just fine. we have had this resilient demand and i think that that is in a departure from that needed to the downside is going to cause a repricing but other than that, i do think we expect growth to continually grow somewhat tepidly given the fact that we have lighting effects of tightening from the monetary policy perspective still coming despite the fact we have a new fiscal pack

it's sort of what you might have heard is the soft landing, the goldilocks and what he, fed chair jerome powelle would say it looks like he's doing it. >> and janet yellen, they think they're in the soft landing and we're 15 minutes archway from the opening of the market. >> they pop a little bit and they were flat before and they popped a little bit and last i checked. >> rahel solomon, thank you very much. kate? >> right now we are keeping an eye on the michigan courtroom. the mother of a school shooter is on trial. the question is could she be held criminally responsible for what her son did, the heinous crimes he committed and what happens there could be a first. >> also a death row inmate in alabama just asked the supreme court again to halt his execution and set to happen in hours. this would be the first known execution using nitrogen gas and there's a whole lot of c controversy around this. nikki haily is telling donald trump to bring it. her plan for her home state, south carolina's and donald trump's threat to republicans. you donate to nikki haley. you're out. we'll be back. >>> open

uncertainty and an unusual amount of uncertainty so we're looking to see whether or not fed chair jerome powellrop hints about whether they can have relief in march or if this is more of a summer issue for when people will get relief. as you know, the implications are massive for the consumers, the economy, the market and maybe even the election. >> everyone listens and tries to decipher and translate what the fed chairman says in his press conference and we'll be listening to that. >> we'll turn to a very interesting story, as well. a judge in delaware striking down a multibillion-dollar payout package for elon musk. it had boosted him to be one of the richest people in the world, what happened here? >> a stunning decision out delaware. a judge ruling that this 2018 competition package that musk and tesla, that they failed to prove that this package was fair. now remember, this monster pay package valued at $51 billion. billion with a "b" at today's prices it did help mack elon musk one of the richest people on the planet and tesla shareholders don't have a lot to complain about in the sense t

for or was it simply maintaining the data dependent fed that we keep hearing about whether it's jerome powell or other fed speakers. >> we've always said two to three rate hikes in 2024 there were reasons for that. the job market is way too strong wage growth remains -- it's very reasonable there in the 3% to 4% rage hike range that the fed doesn't cut when you have wages close to 4 and 4% on the increase, you're not going to get a fed that's going to rei ignite inflation we said a fed that was wrong on the other side of this movement, that they weren't going to try to skamble and look like they had lost control of it they want to bury the inflation. it's not close to the 2% of its target it's a continuation of what the fed was saying all along, accept we had a little pillow talk late in the fourth quarter that investors jumped on that we thought was a massive change it was a bit of a hint that they realized inflation was coming down but not beaten, and i think that's where the misconception was. we have to look forward to a stronger economy in 2024 not robust, but just a bit too strong for t

. >> that was fed chair jerome powell sounding cautiously optimistic about the fed's progress fightingnflation. today once again we'll get an update from him on what the fed may do with interest rates this year. the fed has raised rates at the fastest pace in four decades, rates being the sole weapon in trying to bring down inflation. so far, so good, according to the latest ddp and jobs data. no cuts are expected to be announced today by most. the big question is whether the fed could signal more cuts starting in march. that has big implications for you at home, your finances, economy at large, politics a bit. served as the chair of the council of economic advisers under president obama, welcome, good to have you. did we stick a soft land something. >> good to be here. i think it is. look, jay powell is rightfully cautious. he's the fed chair. he needs to be super duper careful. i only need to be somewhat careful, and so i'm going to say we've had a soft landing. >> do you mean because, yjason n december of 2022 you said it was most likely not going to happen? >> it is a surprise to m

♪ >> sandra: as promised, we are monitoring this presser from the federal reserve chair, jerome powelland not indicating when cuts may be coming. so the market right now, dow is up 43 points, as they monitor his words, i can tell you this right now. the market's reacting to him saying inflation has eased from its highs without a significant increase in unemployment. he calls that very good news. but he said inflation is still too high. so therefore, they are not indicating when they will begin cutting rates and markets will continue to react and we'll monitor it. now this. >> all this project stands in stark contrast to my predecessor. >> the guy who claims law and order, sows lawlessness and disorder. >> my predecessor. >> my predecessor. >> my predecessor likes to say america is a failing nation. >> john: if you think something was missing, it was, donald trump. he avoided mentioning trump by name for years, and shifting strategy that he wants the race to focus on his predecessor, trump, and not his own record. political panel, christopher bedford and juan williams. how things have c

now jerome powell is great. he should be an actor. two years ago he said the new paul volcker.will crush the economy and conquer inflation. now he morphing into arthur burns under nixon. larry: soaks social justice, all the rest, how will they do their job. we got to get out of here. i don't see how they can do that. >> they can't do what happened to the defense department which went woke. now we have understaffed, you know mined military. larry: judy shelton. >> they need intellectual diversity. larry: you wouldn't make dei, i won't make dei, forbes won't make none of this. we're just out there. coming up we talk about donald trump, nikki haley and fani willis's boyfriend with fani willis's boyfriend with mark simone, joe concha. lots to do.rg dei ated the customized my car insurance and i saved hundreds. fed. (man) what if my type 2 diabetes takes over? what if all i do isn't enough? or what if i can do diabetes differently? (vo) now you can with once-weekly mounjaro. mounjaro helps your body regulate blood sugar and mounjaro can help decrease how much food you eat. 3 out of

. >> clues today perhaps from jerome powell but no cuts.ernational monetary fund has upgraded its growth forecast offering a more optimistic outlook for the world's economy. tell us about that. >> yes, so some good news from the imf. they've marginally updated their global outlook for this year and next year, so they now see global growth expanding at 3.1% in 2024. that's an improvement from 0.2% from where they were back in october and see growth at 2.2% in 2025 as well. and the reason is the u.s. economy has done better than they had initially anticipated and they expect fiscal stimulus to come through in china as well. they're also seeing some better results come out of large emerging market economies like russia, brazil, and india. in terms of the market though they forecast growth of 2.1% this year for the u.s., 0.1% for the euro zone, and 0.6% over here in the u.k. and lastly and briefly a judge voided a multibillion dollar pay package, an astronomical pay package for elon musk, a major setback for the world's richest person. tell us

we just heard from fed chair jerome powell. >> ongoing progress toward our 2% inflation objection is not assured. the economic outlook is uncertain. we're prepared to maintain the current target range for the federal funds rate for longer if appropriate. >> those remarks coming after the announcement that these rates remain unchanged. >> they remain unchanged, the anticipation they may tee up a possible interest rate cut, the news coming out of the prosuccess with powell, i don't think it's likely the federal reserve will cut interest rates in its next meeting in march, pretty interesting, a lot of market participants and traders and also just the econ types they could expect an interest rate cut in march. the federal reserve has taken that off the table. average americans looking at their mortgage rates and credit card rates, any relief on those borrowing costs coming down could come later this year. based off the federal reserve's commentary they're worried that inflation, they want to see proof of more evidence of that. >> i mean the economy generally has been looking good, consum

in fact, trump looked into whether he could fire jerome powell, the fed chair, over the fact that powell he wanted him to do and discovered that he couldn't. he didn't have a statutory authority. statutory authority to do that. and so i guess i wonder if y sqr me. you know, to what extent was trump actually being successful at pressuring the fed in your mind? and based on what evidence i will never know what factors were going through the minds of the 12 members of the fomc when month after month, they basically blinked when it was -- obvious that they should have been getting interest rates back into some normal area. but you know, i don't believe in the fed very much. okay. i think it's you know, way beyod anything that is necessary, free or rational. they're fine, tune and micromanage at $26 trillion economy. me there's totally enmeshed in 104 trillion world gdp. they can't possibly do it. their tools are too rubbery and weak and in you know, ineffective. they should be trying to do all of the macro management that they do. so i'm a total skeptic. i'm anti as anti fed as they come in

think the nightmare scenario they cut and they have to do the slingshot rebound thing because jerome powellt think the futures market are pricing in what is been said, there's so much if they dream it, they think the fed will do it but the fed hasn't work like that, they said they were able to hold instead of raise because the bond market was doing the work for them and then the bond market reversed all the work, why would they cut even 50% growth that's not a recession. maria: are you selling into any rally? >> i think now is the time, not everything else, the p/e ratio another evaluations and other things like telecom and consumer staples and things that probably have substitution issues not so much buying those but selling in the tech rally. maria: do you agree with that? >> i think is a fundamental misunderstanding of the evaluation of the companies in the biggest companies in the best position to take advantage of artificial intelligence which is taking an ever-increasing share of global tech spent, while the global economy can be growing in contracting if your market share is going fo

that's what jerome powell really wants to avoid. we still have a bull market. let's be real.lation has cut in to a lot of those gains. whereas trump had some 36% annualized return in the s&p before covid. right now it's about 7% for joe biden. so gentlemen, real growth. most of us coming from the magnificent seven. but yes, it just means that right now we're sort of at a good stasis. we're not hitting a recession. we don't need interest rates down. inflation needs to continue to come down. that's the best thing for america and the best thing for biden's re-election if he wants to win it. >> neil: lee, let's talk about that. i'm old enough, not you, to remember 1992 when george h.w. bush was running for re-election. for a while he looked unstoppable after the can you wayne and iraq war and the economy settled and a serious recession. he argued that we were coming out of it. ironically in the fourth quarter we were coming out of it. not enough time for voters to get a sense of that. they took it out on him and he was out on his hiney and not re-elected and in come bill clinton.

jerome powell wants further signs inflation will keep falling to the central bank's target of 2%. >>e want to see more good data. it is not that we are looking for better data, we are looking at the continuation of the data we have seen. it is not that the six-month data is not low enough. it is just can we take this with confidence we are moving under 2%? that is what we are thinking about. >> officials indicated they could cut rates three times by a quarter point each. but they've given no timetable. in israel, prime minister benjamin netanyahu met with families of hostages still held in gaza. they told him efforts were underway to free captives, but they offered no details. in gaza, israeli military video shows continued heavy combat around the south. gunfire reverberated outside of hospitals. the un's international court of justice has rejected most of ukraine's legal case against russia. today's ruling dismissed claims moscow bank worldview kaner -- ukrainian separatists and discriminated against annexed crimea's. the report found russia illegally invaded ukraine two years ago.

however, that only happens after a difficult irregular where the crowd is facing this with jerome powell. what should you do? it is a belief in what will really happen. rather than getting caught up in endless debates over the fed's next move her right now, we have an economy that grows with some strength and some tapering inflation and that should allow us to pay reasonable price for stocks. with a set of, wall street pays more for the banks and the industrials while paying less for the magnificent seven and the enterprise software. i like the stocks that have not run yet as an extension of ai. this is a smaller amount of tech stocks that work in 2023. how about pharma? retail? i think they're getting there arms around the software problem. the oil is difficult. we grew so much crude in the country that it is hard for prices to go higher and stay there. and the end, you need to find stocks you can make peace with. because you believe in the companies behind them and what management can accomplish. as i tell cnbc investment partners every day, i think you will be fine if you stick with s