-- jerome powell. that is well in kee - in . jerome powell.ping with _ jerome powell. that is well in keeping with the _ jerome powell. that is well in keeping with the tradition - jerome powell. that is well in keeping with the tradition of i keeping with the tradition of the fed. they have never not hiked or not cut during a presidential election if the economy demands it. the problem is, this is a more nuanced event if they do cut. they are not going to cut because the economy is slowing down but they're going to cut because inflation is well below where they think the front rates should be and different rates need to adjust downward. it is easy to us, to the markets, to understand what is going on but from a political standpoint, it would look like the committee to re—electjoe biden. it is going to be much later if he does not get it injune but having said that, if suddenly unemployment skyrockets up or inflation skyrockets up, even if it is right in the middle of the conventions, they will do what they need to do to stabilise the economy.

increases jerome powell reiterated today he thinks the fed policy is restrictive. you have got still some substantial fiscal policy where we are running over a percent deficits so far this year as a percentage of gdp in the united states and that is historically high for an economy that is in full employment and that spending is coming from unspent american rescue act money, inflation projects, infrastructure projects, and it is particularly affecting service circulation and stickiness of wages in the service sector. i think that is one of the things that makes the united states unique versus the rest of the world. the rest of the world did not have a level of fiscal stimulus that the united states had and still has and also the united states is more of a service sector economy versus a goods economy and i think those are both challenges for the fed. annabelle: do you see that challenge really persisting or perhaps even worsening given that we are in an election year? >> it might. we really have not seen, we have seen good progress over the past year and inflation

i think that jerome powell has been a pretty poor fed chairman. he is the one who is also responsible for allowing the inflation rate to go up to 9.1%, the highest rate in 40 years. that has done great damage to the american family. inflation is a killer. it's like a sales tax you pay every time you go to the store. host: have tons of folks with questions. democrats can call in at (202) 748-8000. republicans at (202) 748-8001. independents on (202) 748-8002. just because we have a lot of folks who have questions, i will ask everyone to keep it concise. starting with kalamazoo, michigan on our line for republicans. good morning, jean. caller: my question is about discretionary spending. if congress holds the purse strings, how does president biden, how is he able to forgive student loans and give cell phones to illegals and do all the things he's doing? does he have an unlimited amount of discretionary spending? host: thank you for your question. guest: is that a great question. it's a great question. i don't think that there is any doubt that the

jerome powell keeps cuts on the table, with the timing is less than certain. rome: it is unlikely that the next great move will be a hike. tom: the yen tumbles pairing a rapid rally on suspected intervention and a big day for earnings, standard chartered reports a profit beat. shel and novo nordness report, but first ing. this is the news coming through, two and a half billion euro share buyback following a previous buyback. rewarding investors with additional cash. in terms of net income, this came in in line with estimates of 3.8 3 billion euros for the first quarter it was a beat, the lender coming through with 1.6 billion euros, ing added 99,000 primary customers, but the buyback of two and a half billion euros. i will be speaking to the ceo at 6:15 a.m. so stay with us. reaction coming through from the lender. markets are digesting what we heard from jay powell, no surprise, but the language pushing back on the views that hikes -- they push back on that saying cuts were possible, european stock futures are lower , ftse futures pointing to 31 points. nasdaq

fed chair jerome powell also described the cpi report more mixed than hot.peaking at the foreign bankers association in amsterdam, powell talked about it being restrictive and indicated the fed will keep the rates higher for longer. >> having the restrictive policy, we have the highest interest rates in some time. it may be that it takes longer than expected to do its work and bring inflation down. i am confident we will do that, but that we will get inflation down to 2% and ultimately we will need to do with our policy rate. >> by many, many measures the policy rate is restrictive. the question is it sufficiently restrictive, and i think that's going to be a question that time will have to tell. entertaining the possibility is that could be a very small probability, but i say -- i have said that i don't think that it's likely based on the data that we have that the next move that we make would be a rate hike. i think it's more likely that we'll be at a place where we hold the policy rate where it is. >> steven blitz joining us. thanks for the time. are we r

jerome powell reiterates interest rates will be higher for longer.hina is considering buying homes as it shores up earnings. a focus on big banks. including alley yachts. it is today beats for the insurance company with pimco in the mix. profit is above estimates. essentially 4 billion euros. estimates had been 3.86, total revenues are shy of 50 billion euros. a beat when it comes to operating profit. 4 billion euros, estimates had been for 3.6. i will be speaking to the cfo, that interview at 6:30. 15% year to date up. german lender coming out with earnings. beating estimates at commerce bank, above estimates in the interest, estimates were for above 2 billion. net income above estimates comfortably. net income in the first quarter, estimates i been millions. 2.7 5 billion in revenues. above estimates of 2.7 4 billion. in terms of the outlook for income, 8.1 billion euros for the full year. estimates where 8 billion. above estimations for commerce bank. i will speak to the cfo along with the markets today team after 7:00 a.m.. the netherlands three

also awaiting some comments from the third chairmanjerome powell, third chairman jerome powell, so thirdome powell, so between those two and the cpi and ppi don't sarah batts this week that could certainly shift the needle as to those all—important interest—rate all—importa nt interest—rate expectations. are all—important interest—rate expectations. are still favouring at september, but if we happen to see a hotter read this week on cpi, wouldn't surprise me if we saw that timeline put further down the road, perhaps towards november, so let's see what the figures are. i so let's see what the figures are. ~' so let's see what the figures are. ~ ., . . so let's see what the figures are. ~' ., ., . ., so let's see what the figures are. ~ ., ., . ., ., are. i like to watch for. china has key data _ are. i like to watch for. china has key data out _ are. i like to watch for. china has key data out including i has key data out including retail sales. what's the state of the chinese consumer right now? , ., , of the chinese consumer right now? ,.,, , ., now? some positive figures from china ove

speaking on tuesday at an event in amsterdam, jerome powell said the central bank was looking at keepinga longer time than had been thought, due to persistently high inflation. i'm packing this with the independent market analyst, craig l. good morning. my cuts are really pricing in that rates will stay at this rate, is that the case? for at least a few months and hard to look in the future because if you look at how markets are behaved over the last year, i have been incredibly optimistic. we are now injanuary, markets are pricing in 175 basis points from the us and down to about half a percent now. we're talking much smaller numbers and it shows the insurgency that exists and that is what jerome powell alluded to this week when he said interest rates were much higher than what they thought they would be. ultimately they thought higher interest rates would have a dampening effect on inflation then we have a ready seen. ., , inflation then we have a ready seen. ., ., , seen. today will get the latest numbers for — seen. today will get the latest numbers for the _ seen. today will get the

he should say why are you starving this economy, jerome powell?put you into that office, right in but the thing is democrats, they stick together, republicans don't, all right in and that's been part of the problem in the house. republicans don't stick together, democrats do. here's a case where a democrat president would be well served by not sticking with someone over at the federal reserve by showing a riff, putting the blame on the federal reserve for leaving rates too low for too long, that created inflation and now leaving them too high for too long. stuart: well, he also a blamed corporate greed for inflation which mistakes no sense at all, but that was the president on cnn last night. adam, stay there, more for you later. >>> trump's new york trial resumes today, and stormy daniels will be back to take the stand. byron york is with me. do you think stormy's testimony is helping or hurting trump? >> well, first of all, you never know how the jury is taking it. we have no idea with. but as far as what i'm -- my opinion here is, i think it's

also awaiting some comments from fed chairman, jerome powell.se two and the cbi and the ppi data, there is a number of events this week that could certainly shift the needle as to those all—important interest rate expectations. so the markets are still favouring perhaps september, but if we did happen to see a hotter read this week on cpi, it wouldn't surprise me if we did see that timeline put further down the road a little bit, abs towards november even. so let's see what the figures are this week. a lot to watch for this week. china also has some key data out including retail sales. what is the state of the chinese consumer right now? some positive figures from china over the last week starting last week actually, when we saw the trade balance figures. there was a nice turnaround there in terms of chinese imports, so we know the chinese imports, so we know the chinese domestic market, that has been a real weak points for china in this post—covid reopening era. there has been a lack of consumer confidence and consumer buying, and that has led

here is chair, jerome powell, during his press conference. economy has made considerable progress toward our dual mandate objectives. inflation has eased substantially over the past year, while the labour market has remained strong. and that is very good news. but inflation is still too high, further progress in bringing it down is not assured and the path forward is uncertain. we are fully committed to returning inflation to our 2% goal. while the prices of many goods have fallen, from cars to furniture, an increase in housing and petrol prices have contributed to a recent rise in consumer inflation. with progress on inflation taking longer than expected, hopes for lower rates have dimmed. one scenario that could change that calculation? chair powell said if the labour market unexpectedly weakened, that could spur rate cuts. and sweetening the mood on wall street, the dowjones industrial average closed higher, after the fed chair implied that the central bank's next move was unlikely to be a rate hike. as you've heard from the us federal res

reporter: stagflation percolated at fed and chair jerome powell and don't see the stag or the flationnk you, hillary. peter maurici is a accomplished economist and joining us now. peter, are you happy with the fed leaving rates unchanged? >> no, i'm not. the ten year bond rate and mortgages paying off and corporate borrowing tegs off of and this business of slowing down quantitative tightening will tend to soften the upward movement in the treasury rate, and i believe it's too low. my feel asking monetary policy right now is not tight enough and he's permitting inflationary expect taces to lock in at 3 or 4% and going to raise a federal funds rate to do that, that would be helpful and should continue quantitative tightening and we should be targeting the 10-year treasury rate above 5%. innation is too high and going to stay there. stuart: you want the 10 year treasury to be above 5% and you want that? >> absolutely. right now my feel asking the sustainable rate of inflation is higher than it was before covid. more like 2.5 to 3% more akin to the volcker area and look 40 years prior to

this afternoon federal reserve chair jerome powell will talk about monetary policy a the economys he gives an update on the central bank's next move on ierest rates. watc live, 2:30 p.m. on c-span now, our full video app, or online at c-span.org. >> nonfiction book lovers, listen to influential interviewers on the after words podcast and on q & a, wide ranging conversations with nonfiction authors and others. weekly hour long conversations that regularly feature fascinating authors of nonfiction books on a wide variety of topics and the about books podcast takes you behind the scenes of the nonfiction book publishing industry with industry updates and best sellers. download the free c-span now app or wherever you get your podcast, and on our website, c-span.org/podcast. ♪♪ c-span's been delivering unfiltered congressional coverage for 45 years. here is a highlight from a key moment. >> i stand here with my colleagues from the arizona delegation, both senate and house, and with very close friends of congresswoman gabrielle gifford, to remember a tragic event that took place three year

fed chair jerome powell doubles down on his view that the next move will not be a hike. ahead of that, u.s. stock futures surging in some directions with the nasdaq back at all-time highs. helping things along in a very big way as google opens ai's latest chatgpt final. >>> and reddit rides the meme stock wave in a record high. and federal prosecutors saying boeing is possibly on the hook for as much as $2.5 billion. it's wednesday, may 15th. you're watching "worldwide exchange" right here on cnbc. >>> good morning. welcome to "worldwide exchange." thank you for being with us on this wednesday morning. h let's kick off the horde with the u.s. futures after a mostly positive day for stocks yesterday that saw the nasdaq close at a fresh all-time high. meanwhile you are seeing some marginal gains implied at the "opening bell" today. the s&p 500 higher by roughly 2 to 3 points and the nasdaq up 1 to 2. ahead of the "opening bell," at least 31 s&p 500 companies are now at 52-week highs or better or all-time highs across the economic spectrum, across ought of them, including q

jerome powell, chairman of the fed set it up in such a way that whatever data comes out supporting the likelihood of cuts is the date of the market trades on and the data it leans on at least to get one, or two cuts, the market is pricing two cuts for 2024 as the highest probability, given where inflation is is not the right move. people should be staying in long stocks by targeting the dow if you want to use that, 4,500. it's probably going to get there before the election and the election -- neil: 40,500. go ahead. >> i think before the election. the election throws a wrench in things because we don't know what it is going to do to the appetite of people to be in risk assets but to me, because they are going to cut rates which i think they are, don't think they should, that gives risk assets a boost they may have to unwind out another point in time. neil: doesn't seem like now is the time to entertain cuts, no reason to rush these cuts. you could argue stocks might selloff with the cutting rates running up ahead of that move and selling off after because it could signal they are movi

us, so we are seeing much stronger demand in the us and this was reflected in the comments from jerome powellually the level of confidence over inflation returning to target had become less in recent months. by contrast, for the european central bank, they have clearly indicated thatjune is highly likely to be the point at which rates start to be cut. for the bank of england, somewhere in between. a little bit more caution. you still don't have enough policymakers who support a rate cut. possibly they could move injune. the market view, interestingly, which aligns with our own view, is that the first rate cut is most likely to come in august in the uk. sojune for the european central bank, august for the bank of england. bank, august for the bank of encland. ., bank, august for the bank of en. land. ., ., bank, august for the bank of encland. ., ., ., england. sarah hewin, head of research for _ england. sarah hewin, head of research for you _ england. sarah hewin, head of research for you europe - england. sarah hewin, head of research for you europe and i england. sarah hewin, head of- rese

starbucks was down nearly 16% after falling short of expectations, as now fed chair jerome powell said that inflation has still not eased enough to warn a rate cut. but he did say another rate hike is actually unlikely, as fox's connor hanson tells us, investors are lowering their expectations for how many rate cuts, if any, that the fed is going to make this year. >> but inflation is still too high. further progress in bringing it down is not assured and the path forward is uncertain. >> federal reserve chairman jerome powell says interest rates will stay the same for now. americans have been hopeful rate cuts would soon translate into lower borrowing rates for mortgages, car loans and credit cards. but economists say inflation has been too stubborn and say rates could stay put through the end of the year. well the big story really on the economy has just been resilience . >> you know, everybody's been expecting a slowdown. >> there'll be no rate cuts this year. i'm investing under the premise that we're going to be living with this rate cycle, staying the same for the rest of the yea

i don't b envy jerome powell this morning.aria: evercore writes stronger than expected wages will raise fed anxiety over overheating. we spoke with nancy lazar. here was her reaction on wages. stocks are plummeting, interest rates are surging on a hotter than expected employment cost index for the first quarter. 1.2% versus an estimate of 1%. your reaction. >> annualized run rate is over 4%, that is sticky wage inflation and we think that is reflection of a sub-4% unemployment rate. it's not shelter keeping inflation sticky, not auto insurance rates that are keeping inflation sticky, people have purchasing power because they have jobs and they're getting wage increases. i would rather take short-term pain, get the unemployment rate up so we can move back to low inflationary environment, certainly unsettling things going on in college campuses highlights the economy is fragile. cost of living is too high. you need to crack the unemployment rate to get that down. maria: adam, she's talking about inflation being too high but it's

but an optimistic jerome powell says prices could resume falling.ny economic outlook warranted? if. ♪ ♪ ( ♪ ) i thought water would help with these dry spots. that's lawn disease. but scotts healthy plus will cure it! lawn disease? been going around. so like other people have it and it's not... pick up a bag of the new scotts turf builder healthy plus lawn food today. feed your lawn. feed it. the day you get your clearchoice dental implants makes every day... a "let's dig in" day... mm. ...a "chow down" day... a "take a big bite" day... a "perfectly delicious" day... - mm. [ chuckles ] - ...a "love my new teeth" day. because your clearchoice day is the day everything is back on the menu. a clearchoice day changes every day. schedule a free consultation. i will bless those who bless you. it's almost passover here in israel and across the former soviet union. but we're fnding thousands of destitute, elderly jews who are alone and in need of basic food. ramzia is a holocaust survivor. she keeps saying my refridgerator is empty. she's embarrassed to ask

however, they will be monitoring very closely the remarks by jerome powell. question mark here about when and if the federal reserve will actually go ahead with rate cuts this year. now, i want to share this with you because the team here at cnbc has actually gathered the thoughts among some of the major banks to understand what they're expecting in terms of rate cuts from the fed this year. and basically only morgan stanley expects the fed to cut rates three times this career. bank of america, deutsche bank and barclays they expect only one rate cut. let's see how hawkish jerome powell will sound later on today, but no doubt they will be monitoring the rates closely. >> plenty of red on the board to start the day. amazon reporting strong first quarter results after the bell. what should we learn from that? >> so amazon reported a 24% growth when it comes to their online advertising business. we know that the cloud and of course online retail are the core part for amazon. however, this trend, this number they posted when it comes to advertising does suggest t

we heard from jerome powell this morning saying you need to be patient. it's not really showing up anywhere in the markets right now. that does it for bloomberg markets. i'm katie greifeld. this is bloomberg. thanks to avalara, we can calculate sales tax automatically. avalarahhhhhh what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh and they're all coming? those who are still with us, yes.hhhhh grandpa! what's this? your wings. light 'em up! gentlemen, it's a beautiful... ...day to fly.

in response to the report, federal reserve chair jerome powell said, well, given the data the fed's next move would unlinely be a hike. good with for the -- unlike hi. in fact, he indicated that the current policy rate could last longer. but, of course, investors waiting for more clarity on interest rates. they will see tomorrow what april's consumer price index tells us. an analysts expecting consumer prices to rise 3.4% year-over-year compared with 3.5% in march. one company feeling the pain from high interest rates, home depot, by the way. the stock poppe iflating the dow loser board -- populating. you can see basically unchanged. came back a little later in the session, but it did miss on revenue. the home improvement retailer says customers basically deferring major home projects because of the interest rate environment. home depot though seeing additional pressures from low housing turnover, we know that, also tied to interest rates. so how else could a higher for longer landscape impact great american companies as well as your portfolio? because it looks like we're going to be stu

on good footing, that's what we want to see. >> jp is a fan of the show, like many people. >> jerome powellt i'll tell you -- the stag is in the form of a 1.6 gdp, which was very disappointing the flation came in, the inflation portion of that, and then the employment cost index, the other day. so, it is there, i mean, if you're looking i guess it was a cute joke, but doesn't really have -- a lot of my jokes, they fall flat >> silence i wish we had a cricket noise. >> we -- do we have a license for that >> i don't think so. we'll work on it. >>> coming up, peloton sweating it out shares going full downward dog what's next for the faltering fitness stock? we'll debate that next. >>> plus, a new suitor for paramount. the streamer soaring on reports apollo and sony, are, in fact, making a joint offer to counter skydance inside the investor reaction right after this (♪♪) (♪♪) what took you so long? i'm sorry, there was a long line at the thai place. you get the sauce i like? of course! you're the man! i wish. the future isn't scary. not investing in it is. nasdaq-100 innovators. one etf. before

federal reserve chair jerome powell says interest rates won't be slashed until inflation hits the bank's says a data breach was caused by a lack of multifactor authentication. the cyberattack happened back in february and involved change health care. during an hours' long congressional hearing wednesday, the ceo told lawmakers that they still don't know how many patients and health care professionals were impacted. he also revealed the company paid a $22 million ransom to russian-linked cyber criminals. >>> and how would you like to spend the night in a paris museum or a movie-themed house like the one from "up" that can be suspended up to 50 feet in the air? airbnb is offering 11 such temporary listings as it moves to sell experiences, not just hotel alternatives. the san francisco-based company calls these listings icons and plans to award them to lucky winners for free or under $100. >>> that's your cbs "moneywatch" report for this thursday morning. i'm shanelle kaul, cbs news, new york. >>> up next, and just like that. the "sex and the city" reboot unveils a legendary comedian who's

we are minutes away from jerome powell's press conference. there you will get a real chance to hear the thinking behind the fed's actions today, or non-actions. we'll take you live but first a quick break. is now part of schw. bringing you an elevated experience, tailor-made for trader minds. go deeper with thinkorswim: our award-wining trading platforms. unlock support from the schwab trade desk, our team of passionate traders who live and breathe trading. and sharpen your skills with an immersive online education crafted just for traders. all so you can trade brilliantly. so mykael wright. welcome back. let's get a little more reaction to the fed. rick santelli is back. i feel a little guilty for maybe putting words in your mouth on stagflation but the essential thought was really whether we are at stagflation now or not. your thought was -- and i want you to elaborate -- was the idea that you've got growth slowing at the same time that the decline in inflation is abating and maybe moving back up so it may be a low probability that we get t

we're going to be like with jerome powell saying we will are in a period of wait and see.t now when you will be able to refinance, is there a scenario where you're likely to see rates come down? >> for example, even if we don't want this, a recession down or a steep downturn? >> so yesterday during the call or during the meeting yesterday, jerome powell, the head of the federal reserve, says he's looking for two things price stabilization. as long as full employment, if we get price stabilization down to the target at 2, that's at that point. we could see interest rates drop at that point in time. right. or the second one historically is if we're in a recession, but based off the data data right now, we're seeing that the economy is still growing. now it's not growing as much as it was last year, but it's still positive and growing at this period of time. >> i say data to jason. don't worry about it. it's not data. andrew says. data bothers me. all right. jason matthews from matthews financial solutions, thanks again for joining us. thank you for having me. all right. comi

the fed chair jerome powell went on to say that it is likely the fed would move in that direction andlly just saying that they would rather maintain this restrictive policy. that has actually hurt consumers somewhat as well. you're beginning to see a little bit of weakness here and there, and that is in consumer spending. the likes of starbucks, mcdonald's, all suffering when it comes to how consumers are beginning to spend on delivery items, including fast food as well. that is beginning to hurt their numbers. you see profits going down and revenues hurt overall. and the key question mark is whether that will be sustainable. >> we wish we knew the answer for that. arabile, thank you. >>> still to come, airbnb takes gist guests into worlds beyond. >>> and dua lipa ahead of her snl hosting debut. r snl hosting debut. that's why i use secret whole body deodorant... everywhere. 4 out of 5 gynecologists would recommend whole body deodorant, which gives you 72 hour odor protection from your pits to your- (sfx: deoderant being sprayed) secret whole body deodorant. bladder leak underwear has

you think he will s -- he thinks he will sack the federal reserve chair jerome powell over his handlingst rates and pick up where he left off with china, rapidly increasing tariffs on chinese goods. the person who did that interview is a senior editor at semafor and has been speaking to mr. navarro. were you in prison with him, or was it a phone call out? >> this was done through the prison email system. navarro works at the law library there, so he has access to the system. it is air-cditioned. that is where he works. he was able to send his responses through that method. christian: yes, he is doing slightly softer time than some. but he does not seem to have dulled his disda for china. and there is unfinished business there. gina:es, he wants to continue where he left off in terms of tariffs and grow bigger and bolder. he is doing these competitions with the biden administration about who can outdo each other on the tariffs front, where you in the former president talk about 200% tariffs, which would be astronomically high compared to where they are now. he also talked about the perso

really important details that will all be watching for today. >> that would be a doozy if somehow jerome powell open the door to interest rate hikes and look, i'm not ruling it out. anything could happen given where things have been going, but that's why people are going to paying such close attention to the sort of the body language he gives one, the announcement comes out today. you wrote a piece in the times titled high fed rates are not crushing growth. wealthier people help explain why. so what do you mean by that yeah. >> i think we typically expect a couple of things to happen when you have interest rates as high as they are now, they're currently at about 5.3% and typically in an environment like this where we have mortgage rates up above 7% as a result of those high fed raise, you would expect home prices to be really cooling pretty dramatically. you would expect the stock market it's really be suffering dramatically. and what we really seen april stock performance notwithstanding, is the asset prices just aren't suffering that way. stocks remain pretty close to all-time highs. we've s

and jerome powell, the fed chair, calling a news coerce today at 2:30 eastern time. we a gng to air that live on c-sp. that one is also on the free video app as well. that is to: 30 p.m. -- that is 2:30 p.m. there is a lot going on in a limited space and we try to show as much public affairs as we can. congressman, just about a minute and a half before the house comes in. we want to get you one more call. a republican from richmond, virginia -- good morning. caller: how are you doing, mr. congressman? guest: i'm very good. caller: good to hear. i am just curious. i mean, the holocaust did not happen, so why would anybody be -- host: you don't think the congress -- the holocaust happen? congressman? guest: i did not understand the question. host: he did not think the holocaust occurred. guest: i would suggest there are many books on the topic, including people who participated in it. maybe that will educate your listener a little bit more. host: appreciate that from the congressman. appreciate your time this morning, joining

fed chair jerome powell discussed the decision with reporters after the announcement was made earliertoday. the fed says progress has stalled on bringing down inflation, while price increases have eased since their peak in 2022. data shows that the annual inflation rate is nearly 3. the fed wants it back down to 2. officials had projected possibly three rate cuts this year, but depending on how this data goes, that could change the forecast next month. wall street mixed over the fed's decision. the dow up 87 points today. the nasdaq though dropped 52 and the s&p fell 17. and so as mortgage rates remain above 7, some would be homebuyers are looking for another option to help them buy. and that option is an adjustable rate mortgage. it's a tool many have cheered as a home buyers dream, while others warn it's a nightmare that offers would be homebuyers false hope. let's bring in our business and tech reporter scott budman scott. some of us maybe right here, have been down this road with adjustable rates mortgage with mixed success. let's explain it to those who haven't. right. you know,

here is chair, jerome powell, during his press conference.stantially

but i say i used to be on my cousin's netflix account and now i have to get my own, so yeah, "jerome powella recession." [applause] but you have to remember, these are not surveys of americans. these are surveys of americans who are willing to talk to a stranger who cold calls them in the middle of a workday. what i'm saying is, these people are not normal. i mean, i ignore phone calls from my own mother, that's normal. sometimes i'll get three, four, five calls in a row, then a bunch of texts, "the car is filling up with water." i don't have time for this, mom! i'll see you at thanksgiving. that's normal. either way, clearly joe biden needs to do a better job of getting word out about the healthy economy. maybe he just needs a hype man, you know? like how notorious b.i.g had p. diddy. maybe p. diddy can do it, what's he up to? [audience reacts] is he -- i guess he's not available right now. okay. while biden has his work cut out for him trying to win over people who aren't fully informed about the stock market, one of his rivals is going after a much smaller group of people who are obsesse

mona: we are in the jerome powell camp. we think inflation can gradually move meaningfully toward 2%. we see the shelter and rent component playing catch-up. we are seeing the data move lower. that hasn't showed up in the cpi baskets or the pce basket, which has a lower exposure. we think that's coming. two, we see more meaningful potential slowdown in the wage gains component of the labor market. couple early signals of softening. the jobs report on friday. the jobless claims this week was elevated. over time there will be better balance in the labor force. more supply coming in, less demand for jobs, which will lead to softer gains. the combination will lead to better inflationary trends going forward. that combined with this earnings growth picture continuing to outperform and improve meaningfully, we think is a good tailwind for equities broadly. caroline: interestingly, in san francisco, the key thing is how expensive engineers are, whether in the field of ai, software developers a little less but arguably one million

c-an.org the video app and the deral reserve chairman jerome powell is having a news conference 2:30tern time we are going to air tt live o c-span that would also on the free video app as well. that one is 2:30 8:00 p.m. that's on c-span.org and the video app again there's a lot going on a special the house and senate and the limited amount of space we tried to show as much programming of congress and public affairs as we can. congressman about a minute happy for the house comes in erepublican brian from richmond, virginia good morning. >> hi, how are you doing mr. congressman. >> very good. >> good to hear. i am just curious why would anyone be protesting anything in the first place? what you don't think the holocaust happened? congressman is everything going to say to that? >> guest: i did not understand exact. still he does and that the holocaust occurred. i would suggest you go to his local library. there are many books on the topic. he will educate your lists are a little more progress appreciate that. ande appreciate your time this morning. turning us in the cannon house office

que el primero de los 3 recortes pasaría en junio, de acuerdo al plan del presidente de la fed, jerome powellnas y ford está retirando más de 240.000 vehículos. debido a que las luces traseras no funcionan, según reguladores, el problema se debe a que un sistema detecta falsamente una sobrecarga de corriente en las luces, lo que provoca que una o ambas luces traseras se desactiven durante un ciclo de conducción. el retiro afecta a ciertas camionetas maverick modelo 2022 a 2024. yo soy silvana henao y ese es tu informe cnbc para telemundo. la empresa wallethub publicó recientemente una clasificación de las mejores aerolíneas en estados unidos, comparando las 9 aerolíneas nacionales más importantes. además de una regional, es estudio evaluó el número de informes de equipajes mal gestionados, también la frecuencia de cancelación de vuelos y también los retrasos. y tras 2 años en el primer puesto, delta airlines descendió al cuarto lugar. alaska airlines subió al primer lugar, seguida de sky west y spirit. miles de estudiantes que pidieron dinero prestado para asistir a los institutos de arte obt

but fed chief jerome powell did ease some fears today, saying that any interest rate hike is unlikely. >>> when we come back here tonight, we're getting word of a passenger plane reporting a possible bird strike, forced to make an emergency landing. >>> there's also been an earthquake that's hit southern california. and those young voters seen partying and then dumping trash right into the ocean off florida, and what authorities are now saying tonight. d you knf you shave, 1/3rd of what you remove is skin? new dove deodorant helps repair it. so if you shave it? ♪ dove it. ♪ ♪ ♪ new dove. replenish your skin after every shave. happy mother's day! some things never change. like a mother's love. get something as timeless as a mother's love at harryanddavid.com. life is a gift. share more. ♪ stay ahead of your child's moderate—to—severe eczema, and they can show off clearer skin and less itch with dupixent. the number one prescribed biologic by dermatologists and allergists, that helps heal your child's skin from within. serious allergic reactions can occur that can be severe. tell your d

haidi: jerome powell on the fark against inflation. rounded out by the consumer numbers. bring in a senior advisor in sydney. this balance is a challenge, it is front and center. when you look at subsidies for all how much does that complicate the picture? guest: the government has been at pains to work out recessionary impact and they ensure us they are considerate. but the health of the consumer has been dire. cost-of-living has been stressful and we calculate that at 150 billion dollars. that's looking at rising interest rates, cost-of-living, inflation and tax brackets. these measures address concerns. we saw the energy subsidy in combination with tax cuts and rent relief. they are trying to provide relief to cost-of-living pressure and we'll see how that goes. heidi: we've seen health care, are you able to action those? lucy: there was some net benefits. australian clinical labs should see benefit from indexes which we have not seen in 25 years. critical minerals through the future in australia project with tax cuts for producers and uplift from mineral resources and

. >> federal reserve chair jerome powell says that he needs to see more than one quarter's worth of inflation data to see if inflation is more persistent going forward. >> nfl unveiling its official schedule today and the niners found out whose son wears there 2024 season next in sports days is going to give us all the details on the us all the details on the upcoming season. ow network is o network for business. that's why more choose comcast business. and now, we're introducing ultimate speed for business —our fastest plans yet. we're up to 12 times faster than verizon, at&t, and t-mobile. and existing customers could even get up to triple the speeds... at no additional cost. it's ultimate speed for ultimate business. don't miss out on our fastest speed plans yet! switch to comcast business and get started for $49.99 a month. plus, ask how to get up to an $800 prepaid card. call today! >> and now kron 4 sports. >> well, we've got the appetizer yesterday, but it's time for the main event. it's like a holiday on the nfl schedule its schedule release day and we found out the niners have a pret

cheryl jerome powell did signal it's unlikely the fed would raise interest rates, and the dow closed higher on that news. >>> the "cbs overnight news" will be right back. sometimes, the lows of bipolar depression feel darkest before dawn. with caplyta, there's a chance to let in the lyte™. caplyta is proven to deliver significant relief across bipolar depression. unlike some medicines that only treat bipolar i, caplyta treats both bipolar i and ii depression. and in clinical trials, movement disorders and weight gain were not common. call your doctor about sudden mood changes, behaviors, or suicidal thoughts. antidepressants may increase these risks in young adults. elderly dementia patients have increased risk of death or stroke. report fever, confusion, stiff or uncontrollable muscle movements which may be life threatening or permanent. these aren't all the serious side effects. caplyta can help you let in the lyte™. ask your doctor about caplyta. find savings and support at caplyta.com ♪♪ open talenti and raise the jar to gelato made from scratch. raise the jar to flavors from the

i think jerome powell has been, on balance, a pretty poor fed chairman. the one who was also responsible for allowing the inflation rate to go up to 9.1%, the highest rate in 40 years. the has done great damage to american families. inflation is a killer. it's like a sales tax you pay every time you go to the store. host: we have tons of folks with questions for you. democrats can call in at (202) 748-8000. republicans, (202) 748-8001. independents, (202) 748-8002. just because we have a lot of folks with questions, i will ask everyone to keep it a little concise, starting with jean in michigan with our line for republicans. caller: good morning. my question is about discretionary spending. if the congress holds the purse strings, then how does president biden, how is he able to forgive student loans and give cellphones to illegals and all the things he's doing. does he have an unlimited amount of discretionary spending? host: thank you for the question . guest: that is a great question. i do not think there is any doubt about it that the president has ov

i think jerome powell has been, on balance, a pretty poor fed chairman. the one who was also responsible for allowing the inflation rate to go up to 9.1%, the highest rate in 40 years. the has done great damage to american families. inflation is a killer. it's like a sales tax you pay every time you go to the store. host: we have tons of folks with questions for you. democrats can call in at (202) 748-8000. republicans, (202) 748-8001. independents, (202) 748-8002. just because we have a lot of folks with questions, i will ask everyone to keep it a little concise, starting with jean in michigan with our line for republicans. caller: good morning. my question is about discretionary spending. if the congress holds the purse strings, then how does president biden, how is he able to forgive student loans and give cellphones to illegals and all the things he's doing. does he have an unlimited amount of discretionary spending? host: thank you for the question . guest: that is a great question. i do not think there is any doubt about it that the president has ov

. >> federal reserve chair jerome powell suggested that interest rates will not be changing any timeericans have been hoping for rate cuts, which would translate to lower borrowing rates for mortgages, car loans, credit cards. at one point, traders were hoping for as many as six rate cuts in 2024. now, investors are expecting one rate cut later in the year. there could be none due to inflation. powell says the economy overall, though, remains strong. >> consumer spending has been robust over the past several quarters, even as high interest rates have weighed on housing. but inflation is still too high. further progress in bringing it down is not assured and the path forward is uncertain. >> the fed's key rate is currently at a 23 year high, sitting at 5.3. >> all right. our time is up in 44 new numbers out about the cost of housing. show how much more is paid every month for a mortgage here in the bay area compared to paying rent. now, the report from bankrate says bay area residents are better off renting than buying a house. right now, the average monthly rent in the san francisco,

here is chair, jerome powell, during his press conference.

jonathan: how >> interested are they >> libby: that and the fed and what jerome powell will do.resident trump is running by his own admission of strategic, professional campaign where they were surprised by their victory. this is much more strategic and as a result, you will see that in the vice president choice it will either be offensive trying to shore up opportunities among black men and latino men. president trump one of the reasons he was selected because of this demographic and then 2020 biden was help. it's either off offensive or defense of selection or j.d. vance. jonathan: for nikki haley. libby: i think that's unlikely. jonathan: it is good to see you. coming up shares of walmart rising as the company reported searching sales. michael collins joins us next. this is bloomberg. ♪ i don't want you to move. i'm gonna miss you so much. you realize we'll have internet waiting for us at the new place, right? oh, we know. we just like making a scene. transferring your services has never been easier. get connected on the day of your move with the xfinity app. can i sleep over

chair jerome powell did signal it's unlikely the fed will raise interest rates and the dow closed higherthe news. there was a remarkable scene on capitol hill today. the ceo of the nation's largest private health insurer apologized for a cyber attack this winter that crippled a large portion of the u.s. health care system. cbs's nicole sganga was at the congressional hearing. >> if you all can't figure this out. >> reporter: outrage today on capitol hill. >> a company on your watch let the country down. >> reporter: the target, united health ceo andrew witty, whose company owns change healthcare, the subject of a stunning cyber attack that paralyzed insurance payments to hospitals, pharmacies, and medical practices. >> i will not rest until we fix this. >> reporter: aviva today issued this apology. >> i'm deeply, deeply sorry. >> reporter: and reveal the comely paid a 22 million-dollar ransom to russian length cyber criminals who broke into change healthcare on february 12th using stolen credentials, breaching a server not equipped with multifactor authentication compromising sensitive h

jerome powell thinks there is a high bar to raising rates.om: mark cranfield setting us up for the data on wednesday. out of south africa, one of the largest providers on the continent of africa with earnings, a miss in earnings-per-share. estimates had been 9.21. revenue was a modest beat. again it is earnings-per-share where you're seeing the mess and the dividend below estimates, a disappointment for investors. 5.9 dividend per share. vladimir putin replaced his defense minister with his former economy aid. the reshuffle signals a focus on growing the russian war economy after the invasion. let's get more with greg sullivan. what is behind these changes? greg: as you said it signals a focus on the war economy. they were instrumental in putting russia on war footing and it underscores how important that is. after the early days with missteps, russia transferred its economy into a mode that has weathered sanctions because of production from the war. he is exerting control over defense. the war was supposed to last a few days and is entering