disappointed as far as the market goes. >>> turning back to the markets right now in the u.s., fed chair jerome powellas warned it will take longer to hit the 2% data tar get. inflation came in higher than expected at 3.5% while the american labor market remains robust. powell said officials need greater confidence before they ease policy. >> inflation, of course, declined quite significantly over the second half of last year, over the whole year, but particularly in the second half, but 12-month core cpe inflation, which is one of the most important things we look at, is estimated to be of little change in february and march, and the three- to six-months are at a greater level. we want to make sure they're moving sustainably toward 2% before we begin easing policy. we took that cautious approach and sought that confidence so as not to react to the string of low inflation readings we had in the second half of last year. the recent data have clearly not given us greater confidence and instead indicate that it's likely to take longer than expected to achieve that confidence. >> and u.s. futures just a b

the two, the governor of pboc and jerome powell meeting in washington, d.c. coming up, we'll get eric francia's energy outlook. first, releasing the fourth quarter results. that is coming up next. keep it here with us. this is bloomberg. ♪ so, what are you thinking? i'm thinking... (speaking to self) about our honeymoon. what about africa? safari? hot air balloon ride? swim with elephants? wait, can we afford a safari? great question. like everything, it takes a little planning. or, put the money towards a down-payment... ...on a ranch ...in montana ...with horses let's take a look at those scenarios. j.p. morgan wealth management has advisors in chase branches and tools, like wealth plan to keep you on track. when you're planning for it all... the answer is j.p. morgan wealth management. >> we're keeping an eye on asian chip makers as we count down to tmc's earnings today. china sales likely to be heard. tsmc up 1%. smic up almost 2%. tsmc's capital spending plans will be a key focus. that is after asml posted orders short of expectations. chip makers laid o

that is the message from america's top banker, jerome powell on us interest rates. the chair of the federal reserve said policymakers hadn't seen enough progress on inflation since its rapid decline last year. and with inflation likely to take longer to return to the fed's desired target of 2%, a cut in rates, he said, didn't seem justified. we've said at the fomc that we'll need greater confidence that inflation is moving sustainably toward 2% before it would be appropriate to ease policy. you know, we took that cautious approach and, sought that greater confidence so as not to overreact to the string of low inflation readings that we had in the second half of last year. the recent data have clearly not given us greater confidence and instead indicate that it's likely to take longer than expected to achieve that confidence. today's remarks highlight the different paths being taken by central banks around the world, with the european central bank's christine lagarde reaffirming that the ecb was still on track to cut rates. many people expect the ecb will cut rates i

. —— mike batt was jerome powell.herrmann is a european economist at bank of america and joins us from paris. after this latest fall in uk inflation, we are still some way off the target of 2%. when do you think the target of 2%. when do you think the bank of england is going to make its decision to cut? . the bank of england is going to make its decision to cut?— its decision to cut? , the cutting cle is its decision to cut? , the cutting cycle is actually _ its decision to cut? , the cutting cycle is actually august - its decision to cut? , the cutting cycle is actually august now. - its decision to cut? , the cutting cycle is actually august now. i i its decision to cut? , the cutting i cycle is actually august now. i have to admit that into this week we thought that there was more of a chance that the bank of england might be confirmed to cut around june. if the interest rates had continued to show a better slowdown, if the... inaudible enough to get the bank of england, so we are happy with our base rate of the b

liz: the markets spinning from red to green, red to green as federal reserve chair jerome powell now officially raised major uncertainty about the chance of a rate cut this year. saying during a fire side chat of the governor and the firm inflation of the last quarter could mean maintaining current rates for longer. here's how we put it. >> the recent data have clearly not given us greater confidence and instead indicate that it's likely to take longer than expected to achieve the confidence. policy is well positioned to handle the risks that we face if higher inflation does persist. we can maintain a current level of restriction for long. liz: basically tracks how the fed might move on interest rates and blasted through the 5% threshold. first time it's been above that level since november. right now we vascularized it slightly below at 4.974, still up 5.4 basis points from yesterday. and equities also spasms all over the place. setting a scene with about 59 minutes left to trade and dow looking to snap its six day l osing streak up 168 points right now and s&p at the moment up 8, h

ashley: on cavuto coast-to-coast we are waiting for jerome powell's comments on the us economic outlook. markets are steady but willpower will shakeup investors. a powerful earthquake in taiwan. the very latest update our top story, markets trying to find their place after a week start. closely to share powell to see if he's taking a rate cut in june off the table. looking forward to july being the launch date. ashley: hikes, don't necessarily seem on the table. staying here for a long period, and given the volatility assigned yesterday, not much has changed. interesting we have 75 basis points but entered the week with a market pricing around 65 basis points. what i want investors to focus on is few days of markets notwithstanding. the plot showed, to lower rates. it is a 4.0%. having a justification. other views are being expressed. ashley: we talked about the recession is coming. was it going to be a hard landing or soft landing. the us economy said clear of recession risks. we dodged a bullet bit, didn't we? >> i would certainly think danielle's point there is so much ways to interp

jerome powell was speaking at an event yesterday, all over the financial press this morning. said. yes. that is right. it has been very much a - he said. yes. that is right. it has been very much a focus. he said. yes. that is right. it l has been very much a focus for markets for a long time and for households when the central bank will start to cut interest rates. and we just saw recently, stronger data from the united states. we have also seen a slight up tick in inflation so there were concerns heading in to the meeting that perhaps the fed would not be able to cut the three times it had indicated that it would cut rates at the last monetary policy meeting. and that is what the market was looking for. some sort of reassurance that the fed was still going to cut rates and that perhaps it could still consider cutting three times this year. the federal reserve, jerome powell, he did say that the fed was still looking to cut interest rates this year and that the recent data had not materially changed their outlook for the united states economy. looking at the market reaction

[applause] jerome powell: thank you very much. it is great to be here today, thanks to everyone for coming out. road ahead for monetary policy before briefly discussing monetary policy independence and then some discussion. over the past year, inflation has come down sick for can be, but it is still running above the fomc's 2% goal. headline inflation was 2.5% based on pc he index. a year ago, it was 5.2%. core inflation stood at 2.8% in february, a year ago was 4.8%. this is a very welcome progress. but the job to sustainably restore 2% inflation is not yet done. tight monetary policy continues to weigh on demand. growth and economic was strong as gdp expanded by more than 3% and 3 million jobs were created. this combination of outcomes reflects the significance in supply that offsets the effects on demand of tighter financial conditions. labor supply increased significantly thanks to rising participation among 25 to 54-year-olds, workers in their prime years and a strong pace of immigration. recent readings have come, a faster p

you might not even need something, but we do have an fomc meeting this week, and if jerome powell is more hawkish you could see dollar-yen go even higher on the back of their. from the japanese authority point of view i am sure they would like to see what jerome powell has to say before they commit themselves. traders themselves may decide this is enough and we will start to put in a little bit of money into the gun from here. haslinda: how long can it resist? >> it is very difficult because it is a one-sided situation. haslinda: the movements have been pretty rapid. if it is 2% in one week, is that assigned to worry? >> we start to get into the realm of credibility issues, because all of the things japanese authorities of said, he said in february that when the yen was by 10 big figures i am very concerned. that 2% moves last week was a big move in the context of dollar-yen when it was already high anyway, so it is broken all the thresholds of their tolerance levels, and they still have not moved. in a way, something needs to happen. either the market is it for them, or they do, bec

fed chair jerome powell repeating his message to the markets that the central bank will maintain its current level of restriction until it sees a significant shift in consumer prices. >>> shares of united, they're taking off, shares coming in far higher than analyst estimates. >>> and the whistle blowing hearing regarding boeing. >>> and president biden ramping up tariffs on key chinese imports. it's wednesday, april 17th, 2024, and you are watching "worldwide exchange" right here on cnbc. ♪ >>> good morning. welcome to "worldwide exchange." we're coming to you live from cbc london. thanks so much for being here with us. >>> let's kick off this hour with a check of u.s. stock futures as we always do after a mixed session yesterday that saw the dow snap a six-session losing streak while the nasdaq and s&p close lower. looks like we're on pace for a rebound here in the u.s. looks like the dow would open up 100 points higher here in the early trade. we're also looking at the bond market after a 2-year note. it briefly topped 5% yesterday. that's the highest since april. it's yielding ba

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that is the message from america's top banker, jerome powell on us interest rates.and with inflation likely to take longer to return to the fed's desired target of 2%, a cut in rates, he said, didn't seem justified. we've said at the fomc that we'll need greater confidence that inflation is moving sustainably toward 2% before it would be appropriate to ease policy. you know, we took that cautious approach and, sought that greater confidence so as not to overreact to the string of low inflation readings that we had

michael: jerome powell will probably try to say as little as possible. certainly will have to admit they do not have confidence now and ongoing fallen inflation enough to cut interest rates. he will be pushed on the idea of, do you think you need to raise interest rates? given the consumer confidence numbers and some of the other numbers we have seen showing a slowdown, he will probably say, no, we don't need to do that, but we need to keep an eye on inflation. and we are not going to make any decisions right now, but stay with us. katie: stay with us. bloomberg's mike mckee, i know you have a busy week ahead of you. appreciate your time right now. let's bring the competition to the markets because joining us now, we have elizabeth. i won't ask you about the fed, but i will ask you about amazon of course. we heard from some of its peers last week. you had microsoft and alphabet really with some blockbuster earnings. not the same for meta, which i am sure we will get to. but for amazon, it feels like the stakes are high when you consider the stock's perfo

the 10 - year moving closer to 470 and speaking within the past hours, jerome powell and the most important takeaways for investors. oil down again, gold higher so we are watching commodities and the dollar. there has been some purchasing in big cap tech. med and microsoft are all staying green. we watch some of those chip names, better than 2% there. some big names working on some big-time losing streaks. how about boeing? down for 11 straight days trying to break that streak. six in a row. for berkshire hathaway, you don't hear that too often. home depot and ibm have been off for the past five straight. trying to end some streaks or continue them over he final stretch. the road ahead for stocks, some bigger potholes are now lurking. let's ask adam parker the founder and ceo. good to see you. so man, you've been bullish laying out your case for higher margins, higher stocks. are you rethinking that now? >> no. not really. i think when you are in this band, good news is good and bad news is bad. if it gets too hot, and i could see us getting back to that too good or too hot and suspend cutt

the most important thing is not what jerome powell does, in my opinion making major cuts in governmentnding and debt. that's not going to happen any time soon in washington. remember, the other big factor of the economy, sandra, that's really affected by the inflation and the higher interest rates is the housing market. you know, these new reports are showing the average middle income family today cannot afford a medium family home because the mortgage payments are so much higher. they're up 60% since trump left offices. >> the house prices are not coming down and how can we possibly be in the environment where we can even discuss cutting rates? so by the way the only reason people were even talking about it is the marketing was pricing it in because jerome powell suggested it. it will be really interesting to see what happens here. thank you to both of you for joining us. by the way, one quick thing before you go, drug prices steve, tiana, if i could ask you about this, senator bernie sanders hosted an event with president biden with the fight against high cost prescription drugs and

that is the message from america's top banker, jerome powell on us interest rates.ts rapid decline last year. and with inflation likely to take longer to return to the fed's desired target of 2%, a cut in rates, he said, didn't seem justified. we've said at the fomc that we'll need greater confidence that inflation is moving sustainably toward 2% before it would be appropriate to ease policy. you know, we took that cautious approach and, sought that greater confidence so as not to overreact to the string of low inflation readings that we had

also what we heard from jerome powell this week solidified that. the fact that the fed is likely to be delayed. that they had three months of data showing that there was a pullback in inflation in terms of, there wasn't that much progress on inflation is much as they had expected. undoing what we saw at the start -- at the end of last year. now the fed has to wait for another trend that's going to come through to show that there's disinflationary pressures coming. at the end of the day, they are going to have to delay the start of their easing cycle. so higher for longer persists and dollar strength as a result also persists. tom: the diversions we are getting on the rhetorical front has been quite stark in the past few days. what do we know in terms of the health of the u.s. economy? the 12 districts a look at, where does that lead our understanding of our u.s. economy? >> is quite exceptional that we see u.s. data one after the other continuing to prove u.s. and sectional lists -- u.s. exceptionalism. that coupled with weight -- rate differential

jerome powell there, apologies for some sound issues before we went to him.s a european economist at bank of america in paris and earlier i asked her for her best guess of when the bank of england might cut the cost of borrowing. our bet is that the cutting cycle is actually august now. i have to admit that into this week we thought that there was more of a chance that the bank of england might be confirmed to cut as early as june. if wage data had continued to show further slowdown, if services inflation had moved slower than this, i'd say tentatively, but probably not enough to really get the bank of england to vote on cuts, so we are happy with our base rate of the bank of england starting its cutting cycle in august, as we have thought already for some time, given that domestic inflation has proved to be a lot more sticky here. we had been expecting perhaps the us federal reserve to kind of set the trend worldwide, but given whatjerome powell has been saying, it doesn't appear to be the case. people talk about following the fed. could the fed's delay have

plus, fed chair jerome powell speaking on the u.s.tlook period on thursday, we have more fed speakers on friday. it is jobs day with u.s. payrolls and that jobs data. plenty more coming up on the program. stay with us. this is bloomberg. ♪ lizzy: the leader of south africa's main opposition, the democratic alliance says he would resist forming a coalition with the ruling anc. polls suggest he could lose its maturity in the general election for the first time since coming to power 30 years ago. he spoke exclusively with bloomberg's jennifer zabasajja. >> we have already got a preprepared agreement about how we will work together, how we will stabilize a coalition. jennifer: why not just have one single party ruling the country? is it because the past 30 years of the anc, what if it -- what are you opposed to? john: in south africa people are brand loyalty organizations and brands. it would be a year before the election to expected to get the name recognition in the traction. we are seeing the fact that they are not making the breakthro

he could pressure jerome powell. maria: jay powell is facing a tsunami of spending. that's why inflation is elevated. todd, we're watching the polls. i'm surprised as is rebecca the that it's actually this close. >> i'm not surprised when it comes to pennsylvania and wisconsin. i expected to see closeness there. it seems pennsylvania has pockets in the cities they're just not going to vote republican no matter what, despite the fact that their lives under democratic rule have been horrific and wisconsin is a very college town, we've seen donald trump get a lot of the youth vote lately but for some reason that does not seem to transfer over to madison. i want to draw attention to georgia and michigan, specifically michigan. i think everything you see with regard to how joe biden is handling israel and will continue to handle israel will be dictated by michigan going forward. i know we reported this morning wall street journal says he wants to give a billion dollars to israel but i think everything you see on the campaign trail is going to be about supporting the pales

neil: i understand but the pressure must be unbearable because when you have many saying jerome powelllittle bit better for president biden to be reelected, not that he can orchestrate that at the fed but that is his personal preference, don't even know if that is true, but none of that enters into the equation with you guys, you don't see what's going on around you? >> like i said. i don't speak, i won't speak for jay powell, you can have an interview with chair powell and you can ask him. neil: you specifically, austen goals we are not influence? >> i don't have any pressure. look at the minutes or the transcripts of the fomc meetings. we put those out publicly. it's not about politics. it's about the mandate, what's in the employment and the job market and what's happening to prices, that is what is going to drive our behavior. we've got to tune out the arguments about elections. that's not appropriate in the fed context. we 20 you tune out the markets. a lot of your colleagues say the same thing, don't pay attention to it but the markets are expecting rate cuts, now they are down t

they are doing it for political purposes. >> there's political pressure in washington to get jerome powells. elizabeth warren is one who has tried to pressure powell to lower rates for the high housing costs. >> great reporting is always. look who's here, fox news contributor and columnist, liz peek you heard the white house talking points on the economy, what is your reaction? >> the economy is not in dire shape and there's only one reason, joe biden continues to spend money like crazy. we are spending about 25% of gdp. before the pandemic, the norm was around 21% the jay powell is doing his best to raise interest rates and slow the economy but at the other end of pennsylvania avenue you have spending going on and it isn't stopping so the imf came out last week saying it was unsustainable, it clearly is unsustainable but you got to admit it's going to go on through the election because joe biden is buying votes. $84 billion to pay off interest on student loans because he's in trouble with young voters. you can pick up a lot of stuff going on. it's pretty bad. i think it's tough to imagine

in the meantime, fed chair jerome powell will be setting through hoops at this time as market watcherss conference for hints ash whether a rate cut comes at any point this year, starting to look slim. former fed vice chairman is here to share his view on the economy and if he thinks the fed will cut rates once in 2,024. high interest rates meaning high borrowing costs causing a logjam but this week, on the everyone talks to lose podcast, a familiar face to the real estate industry. just 26 years old when he was fired from his job in the textile business and said i want to change everything. he took a huge leap that ultimately became the reason for his hundreds of millions of dollars of success. following the real estate stints he founded the agency, that grew exponentially focusing on high end luxury sales and earned big commissions with it. even recruited his dollars to work with him to get the business up and running. you've got to see how he turned one of his lowest points in life into running a massive empire he grew by himself that at last check, $72 billion of property, and the m

i do think the invested investors are concerned and i do not think the investors believe that jerome powell do much of anything except lower rates before the election. stuart: nobody seems and i was going on the fed is watching the industry and closely had full screen well. jeff: when the rally started in october based on the cutting rate six - seven times even as they realize it was to optimistic again steamed because there rallying on a strong economy was the new narrative and what happens we have a weaker economy and high inflation and both of those narratives of the disappear, went to the polls alone and that's the one thing that i'm anxious about. stuart: okay i like that in jeff and elvis, democrat from california, said that he would consider voting against against posting speaker johnson another was keep you in place and watch the. >> i would consider it under two conditions and when that get the aid into ukraine so we stand up to person and let's get the $600 billion to rebuild the bridge in baltimore) summer consumer would think three or four years and china doesn't three months. s

again, following a brief drop on fed chair jerome powell's remarks.e said there's a lack in progress on inflation, geopolitics continue to way on investor's miebds including on the mind of our next guest who only sees one rate cut ahead this year. joining us now for more, scott clemens, brown brothers hairmen private banking. scott, welcome. we'll get to the broader market in a moment. i want to hone in on something that is in my notes that you said about geopolitical risk. that the developments that threaten sentiment and therefore price are one thing. and those that threaten fundamentals, i assume you mean by the actual operating of businesses, are quite another and those threaten value. would you explain those distinctions? why you consider them important and which you consider to be the biggest threat to equities right now. >> it is the most critical distinction that any investor, at least a long-term investor has to make is the difference between sentiment risk and by that i mean the daily price volatility that is a future of markets, it's not a

purposes. >> reporter: and there is some political pressure here in washington to get fed chair jerome powellr rate rates. one of those are senator elizabeth warren who has tried to pressure powell to lower rate, blaming him for high housing costs. david? david: all right, hillary, thank you very much. let's get the read on all of this from strategic wealth partners' investment strategist luke lloyd. good to see you. >> hey, david. david: economists and politicians will argue about this or that figure, but american know every day what's going on. they know when they go to the grocery store, they know it when they try to buy a house and most of them are now dissuaded because mortgage rates are up over 7% for a 30-year. consumer prices, this is since president biden took office, 8.9, consumer prices. gas prices up 52.9. credit card debt's up. real hourly wages are down 2.5 -- that's after inflation's been factored in. 30-year mortgage, up 4.4 points, as i say, it's now over 7%. that's what's been happening since biden took over, and that's why people feel so bad. >> that's why all a these econo

demonstrated the need for the fed to try to curtail the rate levels they're at right now but why was jerome powell ultimately late to raising interest rates in the first place? my view he was more concerned about getting reappointed than he was actually being the fed chairman. so the idea they're going to settle american people that politics is played no role in powell's management of the federal reserve i think is mistaken. look at the extent to which powell continued to monetize all the excessive spending. the idea that back in the end of 2021, that they needed to still be buying mortgage-backed security the or engaged in quantitative easing when we had already largely recovered from the pandemic, inflation was surging, and yet powell was more concerned about making sure that his nomination and confirmation went through. so i'm not at all surprised if he were to engage in some kind of a, i hope that he won't engage in a political act but given the powell's tenure it would not surprise me if i saw politics playing a role in his interest rate management. larry: you're so mean, you know that? i tho

. >> today's big take, one of the most read stories on the terminal, jerome powell's dovish december pipit saved the u.s. from recession. adding inflation back under control will require a more hawkish reversal. we reported on it. based on more than 60,000 fed headlines and natural language processing algorithms, you have learned a lot about how the fed has communicated. put this into context for what it means for the upcoming data. >> we tracked through december and in december there was a dramatic of his pipit which helped reinvigorate financial markets and loosen financials accommodation and review fuel financial services. it helped forestall any fallout in the labor market. we do think the fed needs to start speaking more aggressively to markets. i agree with what we heard in the drop that jay powell have to come into the meeting swinging so he can help depressed financial conditions so that there can be more traction of monetary policy in the real economy. >> what kind of language does that mean exactly? >> he has some flexibility and i think we could hear something like -- mone

. >> neil: if donald trump got back to the oval office he has made it clear he is no fan of jerome powellyou think of that? >> well, you know, when i became a fed man i stopped talking about elections and politics in partisan battles of the old days the fed's job is to go and conditions. we have a dual mandate and there's nothing in there that says anything about politics, about the stock market or anything. >> neil: are you saying the fed ignores all of that. >> it needs to. >> neil: i understand but that pressure must be unbearable because when you have many saying that, you know, jerome powell wants to make, you know, this a little bit better for joe biden to be reelected, not that he can orchestrate that at the fed that it's his personal presence -- preference. i don't even know if that's true but none of that enters into the equation with you guys? you don't sort of see what's going on around you? it's the big elephant in the room? >> like i said, i'm not going to speak for jay powell. you should have an interview with chair powell and you can ask him. >> neil: you specifically are n

this is jerome powell., unless something radically, radically changes. 3.5% is down from where it was. you know, not saying it is great. it is growing. but you know, i think, there is a consensus building that, yes, it is going to be more difficult to cut much more than one time in june, unless you -- i think if this thing goes to four, if you start seeing a four number in ppi and cpi, stuff like that, that is where it gets problematic. the other thing his inflation gauge is still below three. the one gauge, just telling you how the fed might, how powell might rationalize a cut in june and wait and see. liz: we can show people the bar chart of where rates were, june of 2022 nine plus percent inflation rising, 41 year highs. >> we've all been there. liz: we're now down to 3 1/2%, it still doesn't feel good but -- >> but the gauge itself that they watch has a two on it. now, i'm, again, there's, what we think he might do, by the way this is controversial. there is people all over, larry summers says they migh

during a speech in washington, jerome powell made it clear that the recent dynamics of consumer pricesme as a surprise to the regulator and will have to respond to this. inflation in the us, let me remind you, accelerated to 3.5% in march. and from the words of the head of the federal reserve, market participants made an unambiguous conclusion: the long-awaited easing of the fed’s monetary policy has been postponed. we decided that we had... more confidence that inflation moves towards the 2% target before easing policy, we are taking a cautious approach to avoid repeating the experience of overreacting to slowing inflation as in the second half of last year. the new data didn't exactly give us any confidence; on the contrary, it indicated that it would likely take more time to achieve our goals. the energy crisis has cost the european union a trillion euros. this frightening figure was named by the vice. president of the european commission marysh shevcevic, the official summed up the additional costs subsidies for energy imports for industry and households. gas in europe is now signi

jerome powell cares only about inflation. the biden administration is focused on jobs, as well. as long as jobs stay strong, inflation is going to stay a problem. but, if you are a sitting president who is looking to get re-elected, you have to be focused on keeping that job's number and employment rate of -- up more than you care about inflation going from 3% to 2%, because consumers aren't going to notice the difference between 2% or 3% but they will notice if you have a job or not. that is what is going to come in and make a significant difference as to whether powell will cut or not. if we don't get any cuts but -- by july, how can you initiate it than without it looking political? >> what if we don't need to worry about cuts until later in the fall? i mean, let's just take the fed chair at his word, when he suggests over and over that they are not going to be political and politics are not going to have anything to do with it. let's just assume we believe him, for the arguments sake, even if you don't. >> i don't, but i will take the setup you just gave me, and i will say -

jerome powell spoke at a forum .'s visit comes two weeks after federal reserve meeting where it held interest rates steady. he has indicated the central bank is likely to lower interest rates later this year. today he said it is going to take a while for policymakers to evaluate the current state of inflation and that it is unclear when those cuts will actually happen. >>> providing artists with disabilities a place to show their work. the historic purchase by a museum and where you can see it all on display. >>> we are tracking the return of rain as we go through of rain as we go through tomorr diabetes can serve up a lot of questions, like... what is your glucose, and can you have more carbs? before you decide... with the freestyle libre 3 system... know your glucose and where it's headed. no fingersticks needed. now the world's smallest and thinnest sensor... sends your glucose levels directly to your smartphone. manage your diabetes with more confidence, and lower your a1c. the number one cgm prescribed in the us.

during a speech in washington, jerome powell made it clear that the recent dynamics of consumer pricesthe regulator and will have to respond to it. inflation in the us, let me remind you, accelerated to 3.5%. we decided that we needed more confidence that inflation was moving towards the 2% target before easing policy. we are taking a cautious approach so as not to repeat the experience of overreacting to slowing inflation as in the second half of last year. fresh the data certainly didn’t add to our confidence. on the contrary, they indicated that it would likely take longer to achieve our goals. the energy crisis has cost the european union a trillion euros. such a scary number. vice-president of the european commission marysh shevcevic. the official summarized the additional costs of importing energy subsidies for industry and households. gas in europe is now significantly below the historical maximum, but shevcevic emphasized that this does not at all mean a solution to the problems of the eu company's competitiveness. the fact is that you have to compete with enterprises in china

economy, and it may deter when the federal reserve chairman jerome powell as well as the open market committee decide then to cut interest rate. that worry on when to cut interest rates has caused the markets to go down quite significantly. yesterday the overall market fell off quite considerably. more than 1% across the board. it's impacted markets globally. you see a lot of red. also that cruise, well, one thing's for sure. if you're able to work through and get that cruise, why wouldn't you? >> absolutely, 100% agree with that. arabile, thank you. >>> still to come. paul mccartney gives the thumbs up to cowboy carter, and the story of dune will continue. but it might be a while before you can return. e a while before you can return. that your digestive system isn't at its best. but a little metamucil everyday can help. metamucil's psyllium fiber gels to trap and remove the waste that weighs you down... so you can lighten every day the metamucil way. -we're done. -what about these? looks right. nooo... nooo... quick, the quicker picker upper! bounty absorbs spills like a sponge. an

." >> reporter: stocks were mixed tuesday after federal reserve chair jerome powell said inflation willay rate cuts this year. the dow snapped a six-day losing streak gaining 63 points. the nasdaq was down 19, and the s&p 500 dropped ten points. >>> the fda is warning about dangerous counterfeit botox blamed for causing an outbreak of illnesses in nine states including florida, nebraska, and new york. the agency says the products appear to have been bought from unlicensed sources and were administered to people for cosmetic purposes. those impacted reported vision issues, difficulty swallowing, speaking, and breathing, and fatigue. >>> the "wall street journal" reports tesla is pushing back deliveries of its new cyber truck. buyers of the stainless steel pickup truck say they were notified about the delay but were not given a reason. unclear how many buyers are affected. it's just the latest blow for the electric car company facing recent weakening demand. the company also just announced yesterday it's slashing 10% of its work force. >>> and pepsico is recalling its caffeine free schwep

." >> reporter: stocks didn't move much wednesday after federal reserve chair jerome powell said againest rate cuts will likely happen later this year. the dow lost 43 points. the nasdaq gained 37, and the s&p 500 gained 5 points. >>> apple is back up and running. the tech giant said it fixed an outage wednesday for its app store on ios and mac os devices. apple tv plus, apple music, apple podcasts, and other company services were also having technical issues on wednesday. >>> a nationwide recall. abdallah candies is recalling its eight-ounce sea salt almond alligators because they're mislabeled. the packaging does not list nuts as an ingredient even though they contain almond posing a serious health risk to those with allergies. the impacted product has a chocolate covered cherrie label with cozy 0315 on the bottom. >>> and calling all burrito lovers. today is national burrito day. in honor, restaurants and fast food chains are offering special deals including chipotle, taco bell, and baja fresh. >>> that's your cbs "money watch" report, i'm shanelle kaul, cbs news, new york. >>> up n

bueno, por lo menos así lo ha dicho el presidente de la reserva federal, jerome powell, agregó que aunqueco central, razón por la que son poco probables los recortes adicionales de las tasas de interés a corto plazo. es que desde julio de 2023 la reserva federal ha mantenido su tipo de interés de referencia en un rango de entre el 5 25% y el 5,5 porcentual. este es el nivel más alto en los últimos 23 años. miren, es una propiedad de 384 pies cuadrados. fue vendida en cupertino a más de 1.700.000 . eso pagaron por este espacio. es una vivienda que es el tamaño de un estudio y la venta fue confirmada en nuestra cadena hermana por un agente de bienes raíces. aquí tienen el espacio. el agente compartió que esta casa recibió múltiples ofertas y aunque no reveló el precio final, ya que el cierre del contrato está pendiente, sí dijo que el precio ha estado por encima de lo solicitado. y ahora miren esto. si están en san francisco y quieren darse un lujo ese baño, pueden llegar de ser necesario. y le digo que de lujo, porque ese recinto está valorado en 1.700.000 . el servicio se localiza en el v

biden's choice of a federal reserve boss, jerome powell, and obviously he was there before, says it is high wage growth. does the problem in the united states. that's why inflation is there, even for his magazine. is saying that's a bit harsh. is actually the ruge of all evil, high wage growth. do you think many of these union workers are seeing high wage growth and then blaming themselves because of biden's, the fed boss as well. i, you know, the united states of america is a 2 party system and, and this is always been a challenge that face, organized labor in america. is that there is a big incentive for the democratic party to take unions for granted because of the, the republican party is a party that wants to essentially abolish unions altogether and staff out all organized labor power. and so the choice is always been the democrats because the other choice is so bad at the same time, of course, biden, who has been relatively pro union, still has the drawbacks, you know, as a, as a, as a president, even as far as labor is concerned, you mentioned the railroad strike and other issu

jerome powell reversing course.rew bailey against the central bank may be able to cut rates before the fed saying the two countries are diversion. let's check in on these markets. we will be watching the tech sector here with those disappointing numbers. european futures responding in positive territory. here in the u.k., the 4100 futures higher by 3/10 of a percent. s&p futures stateside by .2%. we talk about the run-up in yields and jay powell's market change of tone. -- marked change in tone. we saw a jump yesterday. we will see how long that holds four. $89 a barrel on brent. currently down .5%. prices jumping in the session today. of 3% currently in iron ore. let's return. the new orders falling short. the details, let's go to david watkins. at the chip industry grapples with delivery impact of inflation. >> one of his challenges is to mandalay. maybe that she would not be so spectacular comes to the numbers. because this is the only company that makes these machines. they bill the most advanced semiconductor c

if jerome powell leans a bit more hawkish than people are expecting, you certainly have some reasons to do that because inflation data just last week was a little bit harder than he would have wanted to see. employment situation -- the data is not supporting the case for the federal reserve to cut rates at all. we have this overhang here still talking about three cuts. there will need to tweak that when they meet in june. here we are with time not on his side. he will have to be realistic about it. he may even have to give a hint that i don't see any reason for us to move. he can take his time. taking his time might be good until 2025. if the bond market here is that, there is probably room for treasuries to sell off a bit more. request interesting analysis. we lead into that decision from the fed. investors will be queuing in or turning in very closely. there was more cranfield setting us up in terms of analysis around the end. this was to a big corporate story. this was a surprise coming from elon musk in china on this unannounced trip. the test ceo seeking approval for a driver as

last week. of course, traders are also keeping a watchful eye on the federal reserve and chair jerome powellimply delayed. if it is widely accepted to leave interest rates unchanged with its two—day policy meeting and on wednesday. it does indeed. let's talk about the today meeting on the part of the federal reserve. what will we learn if anything about when the world's most powerful central bank will start to cut interest rates? to find out, i'm joined by mike coop from morningstar investment management. hello to you. interestingly in the last week some of the big banks around the world and others are really changing their thinking now on when rates might come down in the us. what are you saying at morningstar? it us. what are you saying at morningstar?— us. what are you saying at morningstar? it is pretty clear that markets _ morningstar? it is pretty clear that markets got _ morningstar? it is pretty clear that markets got way - morningstar? it is pretty clear that markets got way ahead i morningstar? it is pretty clear| that markets got way ahead of themselves in pricing and really large

most eyes will be on that as far as markets are concerned to see if there is any inclination from jerome powellw days. some warmer weather on the way this week, but with that, we will still see some outbreaks of rain at times, so don't be expecting blue skies and sunshine all the way. and certainly, low pressure in charge of the scene for monday, this frontal system pushing in from the west. that'll make for a really soggy start to the day across northern ireland. conversely, central and eastern parts of england and a good part of scotland starting with some sunshine. a touch of frost first thing across parts of scotland. outbreaks of rain spreading from northern ireland into southern and central scotland, northwest england, wales and the southwest as we go through the day. but for central and eastern parts of england, where we hold on to some brightness, temperatures could climb to 18 degrees. more generally, 11 to 14. now, through monday night, this first band of cloud and patchy rain pushes a little bit further eastwards and northwards. we'll see further heavy rain returning to western parts