jon, your interview with john williams is going to move the market. nathan: president williams coming up at 9:30 eastern. mike key helping lead that interview. looking forward to catching up with him, the new york fed president a little later on bloomberg. this is bloomberg. ♪ ♪ ritika: with the first word news, i'm ritika gupta. the u.s. says 150 million americans have been vaccinated against covid-19, but cases are rising in several poorly vaccinated states, with more young people being admitted to hospitals. the highly contagious doctor variant first identified in india has been spreading in the south. india gave out more than eight one 6 million vaccine doses in the last 24 hours, a daily record for the nation. new cases in the hard-hit country have dropped to the lowest level since march. however, some experts are warning that a third wave as the economy reopened from lockdown. coronavirus accelerating in south africa. one in four south africans live in the province where johannesburg, the country's biggest city, and peoria, the capital, are locat

but they were certainly following chester because he was opposing them, and in the united states john williams started to focus on the way that different black americans, malcom x obviously, also james baldwin, martin luther king were being kept track of by american intelligence services and for williams. , maybe in a particularly robust way, this was grist for the creative mill. however, these accounts weren't verified for the american public until the church commission in 1975. some things started to come out in the newspaper in 1968 but i think this is something we already maybe touched on. this was relative to funding for things like the american society of -- african-american conscious -- >> african-american scholars making connections with people of collegians and leaders throughout subsaharan africa and a remarkable account that williams is justly famous for. it's worthwhile to remember one point they're postering subway trains in new york with the king alfred plan as a promotion for the novel. but he writes, this conspiratorial information at the conclusion of the novel, again the unra

we're watching more headlines for john williams, the new york fed. in the meantime, a powerhouse po w wow is going on right now at the white house, this afternoon as president biden meets with the nation's top financial regulators we'll find out what they are focusing on as the commander-in-chief takes a look at the latest infrastructure proposal we've got a live report from the white house, next. ♪ ♪ we made usaa insurance for veterans like martin. when a hailstorm hit, he needed his insurance to get it done right, right away. usaa. what you're made of, we're made for. usaa the lexus es. every curve, every innovation, every feeling. a product of mastery. get 0.9% apr financing on the 2021 es 350. experience amazing at your lexus dealer. the world's first fully autonomous vehicle is almost at the finish line what a ride! i invested in invesco qqq a fund that invests in the innovators of the nasdaq-100 like you become an agent of innovation with invesco qqq like you in a recent clinical study, patients using salonpas patch reported reductions in pain

yvonne: it seems like john williams seems to echo what we heard. >> john williams is number three at the fed. the vice chair did not speak today, but you have to the big voices. it is very clear. as farsi is concerned, that rate hike is out. >> the key issue is when does the economy get to this point where we meet these conditions about time for liftoff. that is still way off in the future. yvonne: another thing he said, you need to see more progress. towards the goals of maximum employment, price stability, you have to be careful. he rounds this out. i want to throw one other thing in. maxine waters is the head of the house financial services committee, she came to the hearing late that looked at the fed's response. she was full of nothing but praise for jay powell. how he did so much good for the economy, came met in favor of fiscal stimulus. remember, the clock is counting down to february when joe has to decide if he is going to give jay powell another four years are not. to see a high level democrat like maxine waters praising jay powell, i think he went home happy. haslinda: so

what i would suggest is they are going to focus on the mathematics of john williams.e now is front and center. this comes back to the reaffirmation of potential gdp. we had feroli at j.p. morgan tell us he stands by their low statistic, and jan hatzius said we are going back sub 3% gdp. they are way more focused on that. jonathan: i imagine you believe this is daylight, between the likes of lead, kaplan, and the likes of williams. tom: there's daylight, but there's supposed to be. the independence of the fed. they are supposed to argue. it is normal to be that way. i think we do the world-class best interviews of central bankers worldwide, but this interview with john williams is going to be intense this morning. he has to re-justify their math. jonathan: mike mckee helping to lead that interview at 9:30 eastern this morning. coming up on this program, binky chadha, deutsche bank chief global strategist. looking forward to that conversation with your s&p 500 approaching 4220. we advance a little more than 0.1%. your yield is 1.4886%. euro-dollar back down to $1.1899.

haidi: president john williams, registered to the more hawkish voices? >> the vice chair, the third one the new york fed president john williams. pushing back against earlier rate hikes. here's what he said. >> right now, the key issue is when does the economy get to this point where we need these conditions to be set out? that is still way off of the future right now. >> another stock standard phrase, john williams says the fed is not making substantial progress on the goal. he also did acknowledge their upside and downside risks. the fed has to be watching carefully to see whether it is temporary or not. shery: kathleen hayes with us. our next guest, a huge fan, let's bring in carol pepper, the ceo of pepper international. it seems perhaps, it is working out this week. we have seen the outperformance. how long will it last if you see rate hikes soon? >> i manage money for people who have over $100 million of fat will of network. we are looking for investors with long legs. i have no doubt it will not be a rate hike in 2021 or 2022. as they mention, per

i believe john williams is on the docket. that is always important, the gentleman who gave us the gift that keeps on giving. the vix, 20.29. futures up 17. dow futures up 185. nasdaq up 0.4%. stay with us. on radio on television -- on radio and television, this is bloomberg. ♪ ritika: with the first word news, i'm ritika gupta. national security advisor jake sullivan says the u.s. is working on additional sanctions against russia for the poisoning of opposition leader alexa navalny. president binder -- leader alexi navalny. president biden says he made it clear russia would face consequences if navalny died in prison. the main contenders for next year's french presidential race was fared worse than expected in the country's regional election. marine le pen's national rally was almost 10 points behind her score in the last election, with president macron's party taking 11%. turnout estimated at 80% was at an all-time low -- estimated at 30% was at an all-time low. boris johnson once the uk2 prehung -- the uk2 become a science

that chair jay powell, vice-chairman rich clarida, and vice-chairman of the open market committee john williams who will carry the day. williams was anxious to say we realize that inflation has gone up, but it is not out of control. we are keeping an eye on it. we will act when we need to, but now is not the time. this is not a time to worry. addressing both sides of the coin, we are not going to be too late and not going to be too early, which seems to have been the latest market fear. alix: dispel will need to go somewhere in the middle, or are we going to learn that today there's a much more fractious? ? fed then maybe we anticipated -- a more fractious fed then maybe we anticipated? michael: i think you will hear powell adhere to what williams' message was. we are not too early, not too late. we are going to be just right. what you have seen on capitol hill is more of what the politicians want to see from the fed then what the fed plans to do. the democrats are going to say don't move the stimulus too soon , and republicans are going to say maybe we will see a lot of inflation, and you shou

john williams didn't want to purchase a bit.han: this is bloomberg. ♪ look...if your wireless carrier was a guy, you'd leave him tomorrow. not very flexible. not great at saving. you deserve better - xfinity mobile. now, they have unlimited for just $30 a month. $30 dollars. and they're number 1 in customer satisfaction. his number? delete it. deleting it. so break free from the big three. xfinity internet customers, take the savings challenge at xfinitymobile.com/mysavings or visit an xfinity store to learn how our switch squad makes it easy to switch and save hundreds. (announcer) the core is key to losing weight, getting back in shape, and feeling good. introducing the aero trainer, designed to strengthen your core, flatten your stomach, and relieve stress and back pain. it conforms to your body and increases muscle activity. abs, back, obliques, hips, and glutes. get incredible results in just five to ten minutes a day. the aero trainer supports over 500 pounds, and inflates and deflates in seconds. check it out at aerotrain

will he double down on a dovish tilt to emphasize heat and the likes of new york fed president john williams actually very much see this is transitory -- drink -- the whole idea they expect inflation to come back down as reiterated inflation expectations and breakeven rates? john, this is a question, this partition between the leadership of the federal reserve and the marginal players that perhaps don't even have voting rights and they try to throw caution into the markets. tom: angst. i look at the market over three weeks. can't think of he had and starts talking anyway. tom: the drawdown is horrendous. 0.07%. equities have really come back. they have corrected. jonathan: there's a big difference between having -- reaction function. a problem the federal reserve has is when they -- people start to question the letter. isn't that what happened the last? tom: i think we are making it up as we go. use of the separation from john williams yesterday with kaplan and the others. there is some really fresh debate out of the vent as they staggered to the next meeting. jonathan: let's bring in presid

you also heard from john williams, saying he is viewing this as due to short run imbalances. maybe that gives a shot in the arm to cyclicals, maybe helps explain why we did see that u-turn. friday was such a violent move for almost every asset class. caroline: today, yields actually sunk originally on the back end and slowly worked their way higher. japan was pretty ferocious. katie: it has been interesting to see this sort of divergence between international and u.s. buyers. i have seen a few analyses this year that a lot of buying has been coming from japan, from foreign investors, simply because there is nowhere else to go. we did see that big in the first quarter. i would expect to see more of that going forward, that move in asian hours sort of reversing. joe: let's talk crypto. microstrategy continuing to buy the depth. the old texas hedge continuing to double and triple down. it will work out for them eventually, right? katie: microstrategy is like the gift that keeps on giving at this point. they had that corporate bond issue. now, they are buying more bitcoin. the in

we will hear from fed speakers, john williams and fed powell that will speak on tuesday and can walkts. it's hard to put back the genie back into the bottle and if the fed is gearing up for tighter policy, it's just getting started. we are not talking bear markets but most begin with correction and there's no reason why that one would start too. jack: one more question for you, the tech stocks that did so well and we are expecting zero interest rates forever didn't get hit that hard this week, what's going on there? >> i think it's partially that they'd already been impacted by fed policy already. everyone knows that the economy has been running hot and now it's going to help the companies that were tied to -- benefited when the economy was pretty strong. and so these companies have been going sideways. the tech companies haven't been going anywhere. you look at apple and amazon, they've basically been going no place for the last six to nine months and that's where earnings going higher. their valuations have fallen already in response to what the fed would ultimately have to do. and

interesting though we might get some fed speak next week, john williams new york fed may walk back some implications of the fed message. >> that does it for the "closing bell." i want to wish my husband very happy first father's day this weekend. to you as well that does it for us. >> "fast money" starts now. >>> live from the nasdaq market site over looking new york city time square this is "fast money" tonight's trader lineup karen finerman, steve grasso, tim seymour and james mcdonald one of our traders says the market is confused, what they saw that was a real head-scratcher, we'll break it down straight ahead. plus chartmaster says look out below what is carter worth seeing in the charts later. >>> we're going bargain hunting, the beaten down stocks that are worth a second look. we start with friday fumble. toi stocks finishing session los and every single s&p sector lower, energy, utilities, financials posting the biggest losses, stocks field, yield fell, ten year falling back 1.44%. today's action has one of our traders scratching his head. tim, you're calling this market con con

we will be speaking to john williams later in programming.o not miss that exclusive interview at 2:30 p.m. u.k. time. let's get a bloomberg first word news update with laura wright. laura: the u.s. says 150 million americans, over 45% of the population, has been fully vaccinated against covid-19. a study reports the highly contagious delta variant is spreading in southern states, which have lower inoculation rates from the rest of the country. india vaccinated 8.5 million people yesterday, a new record. the u.k. has started negotiations to join a transpacific trading block as part of its bid to diversify its commerce after leaving the european union. international trade secretary -- says membership of the group would be a glittering post-brexit prize. hong kong's apple daily newspaper may be forced to shut down this week with the parent company blocked by police from accessing its bank account. one of the most prominent voices of the cities pro-democracy movement, national security police arrested the papers top editors last week. if funds re

john williams, part of the fed transfer -- triumpherate said that the economy is way off in achieving substantial progress. yes, we see pressures but we need to get jobs done as well before we even think about moving. all of the things we have heard for so long. maybe that is an indication of the things that jay powell said tomorrow. >> global economics policy editor kathleen hays, you can also turn to your googler -- bloomberg for more on jay powell's testimony. vonnie, you have headlines. vonnie: this is what we are hearing from the bloomberg scoop. three large chinese banks have decided not to roll over maturing loans as of june of 2020 having combined ¥46 billion. decisions were made before those bonds began tumbling at the end of may and they have resulted in the bank's internal risk assessment. several big china banks. you have to wonder what this all means right here, right now as they deal with these debt lows. yesterday, we saw this pop substantially after a long supporter of the billionaire founder of ever grand stepped in and bought a stake in one of the property units. doe

richmond fed president says prices will be easing as we go into the fourth quarter, agreeing with john williamsms says we are not at maximum employment. jim bullard and rob kaplan, st. louis fed and dallas fed, they have been big proponents of maybe not, maybe inflation will be higher. jim bullard repeating that again. people going to work will spend a lot more money that will boost inflation. the former new york president bill dudley on bloomberg tv today, exclusive interview, said above all, especially when it comes to tapering, the fed is going to be patient. here is what he said. >> the fed is not going to stop their asset purchases quickly, probably going to continue into the fall. the balance sheet will continue to grow. reserves will continue to grow. then when it finally decides to normalize its balance sheet, the balance sheet it will take a long time to get it back to the reserves we had prior to the pandemic. yvonne: certainly, we will be looking more into that. our global economics and policy editor kathleen hays. let's get the first word news with vonnie quinn in new york. vonnie:

yesterday we heard from the fed, john williams, as well as michael mckee, a fascinating interview, talking about a more dovish approach. also hearing from other leadership including jay powell. today, we will hear from michelle bowman and eric rosengren. the dissonance is still there in terms of who agrees with who. that said, the leadership coming out and saying we are going to be patient. it is transitory when it comes to inflationary pressure. this to me is what i am watching when it comes to transitory pressures. u.s. may new home sales. however, in terms of inflation, home prices have gone up 24%, year over year as of may. that is a shocking and unprecedented statistic. this is one area where people are seeing inflation in space. people are buying up houses, however the increase in the appetite to buy post-pandemic as well as on the heels of very low to more g8 -- very low mortgage costs are raising potential for a bubble. the u.s. is going to sell $61 million in 5-year note's. it was interesting because it came in weaker than expected. jon, speaking to this concern, this preparation

john williams of the new york fed and robert kaplan post virtual events by the federal reserve possibly getting some color to the dots, bringing forward some of the rate hikes. one, president biden will meet with financial regulators. -- 1:25, president biden will meet with financial regulators. what can i because the financial system could global warming be? a conundrum at a time when it is not a clearly can we still have a lot of other issues to work out within the financial system. today we have the bloomberg -qatar economic forum. we have some amazing speakers. the paradigm shift we are sick reflected markets, the depleting of the reflation narrative. how much they buy into this and how much we will hear cash is still trash and we will get inflation pick up dramatically or whether the fed takes more hawkish tilt or not. tom: lisa, thank you. we will dip into doha and moment. right now david page with a say with us. -- axa with us. people looking for higher yield, others simply say, no. which is it? david coat we think -- david: we think it is higher. and it will happen in the next f

nothing newsmaking from john williams. he said a lot last week. we know where the fed is at at this point and what they are looking for. what they are looking for as many more months of data. this is what we are going to get on friday. this is the big number everybody wants to see. what happens with payroll friday? the consensus is higher, 700000 and dropped a 5.6% and unemployment. the number a lot of people will be watching her average hourly wages. they will jump to three point 6% from 2%. does that mean inflation? everybody freaked out last week. with that big three point 9% jump in the personal consumption expenditure index which was the highest since 2008. everybody at least for the equity bonding markets who did not do anything during the reaction to that. the reason for that is we are still nowhere near the average the fed wants. 2% inflation and at 1.6 present -- 1.6%. it will take it a few months to get it a few months to get to 2%. on friday, does this average hourly wage number go up? even if it does come in the leisure and hospitality

from the likes of john williams we have heard it's not the times -- time right now to be adapting bondurchases. again, another voice also from the fencing the time is not right -- at least not now. yvonne: one interesting thing about this blah adp report is it seems some companies are making progress -- blowout adp report is it seems some copies are making progress in the labor market. that was the concern back in april when they're only 256,000. it was not a demand issue, relay supply issue. the estimates today when it comes to u.s. jobs is all over the map right now. it goes to show how while this is. the range of some three under 35,000 jobs added to the range of one million in may. it is unproductive all right now. we are going to ask our next guest of what this means, as well. haslinda: meanwhile, from a new york fed presence, he does not see the unwinding as a taper signal. it could be exclusively to bloomberg. inflation spikes are temporary. >> you need to have pressure on resources. pressure on resources starts on labor. it is premature to read -- to have this inflation problem

alix: new york fed president john williams talking about how in legion is going to come down to aroundnext year, but until then it can be a little bit choppy. so what do you do on the choppiness? do you need to go long duration on that? what is the best way? andrew: we have been underweight duration here. if you look at the local ranges we have been trading, for the u.s. in particular, yields have come down quite a bit. looking forward through the current data to further out, we have seen the 10 year treasury come to back below 1.5% again, so if it is underweight induration, i think curve strategies across countries, it makes sense to have a curve steepening bias because central banks more or less everywhere are going to anchor the front end of the curve, and if you do get outside data surprises in terms of growth inflation, you could see some curve steepening. looking forward, there's going to be downside risks, as well as upside risks, so there's a bit of a curve steepening position we think makes sense. after the move we saw on the fed, the levels are going to be better now as well.

necessarily, i'm absolutely butchering his words, but he said the key people to pay attention to is john williams as well as the fed jay powell and rich clara. jon: so you say don't listen to three of them today? lisa: i will say listen to them. it could be interesting fodder for discussions, but as far as the balance of power on the federal reserve and what they will do, [indiscernible] jon: that is so diplomatic. lisa: i'm trying, it is friday. jon: we have turned you from a colonist -- columnist back into a journalist. lisa: we all know that that is the case, yet the noise that does seem to be picking up has given a little more volatility to bond markets. however, transient. jon: thank you, lisa. lisa: i try. jon: let's get to the banks. we are shaping up as follows for the banks in america. in the premarket, jp morgan up by 1%, bank of america by about the same. i imagine this was a big thing for you and the close as we got the stress test results, the green light to pay out more? taylor: yeah, finally good news. this was something most analysts were expecting. we will get the numbers may be

it is were of a spider web a ball of these things we talk about, maybe back to a summation of john williams speaking today. when i go beyond that towards potential gdp or actual gdp that we are going to see, how does that filter into the kushma world? michael: the concept is very difficult to measure, but it is a very important concept of the trend growth in the economy and the level of real interest rates to generate strong growth or we growth, and the concept of secular stagnation which we have been in for a long time. ed has a function of this declining excess savings in the world. so the question going forward is the fiscal expansion which has been offsetting the rise in private sector savings the last six months since the pandemic started, will that money be spent in the private sector? if the private sector will spend that money, real growth will be stronger, real bond yields will be higher in 2022, 2023. i think the fed has done research the that after previous pandemics in history, people don't spend all of the money in accumulated savings they've acquired because they are worried a

jonathan: that was john williams, the federal reserve bank of new york president from new york city.: serious kick -- seriously, what did you think? what you think of the williams interview? jonathan: when i asked him whether being vague was a feature of policy, he said he wasn't vague, so there you go. tom: you absolutely nailed it. he didn't want to talk about any of that. jonathan: this is the problem with policy at the federal reserve. they didn't want to give statements, they don't want to give numerical thresholds, but they will tell you it is about the data. it is about the data, but we won't give numerical thresholds. tom: westin would have just stopped the interview. jonathan: went roundabout for about 20 minutes. tom: you did a great job trying to crowbar out of him. right now, david westin, the star of our coverage last night. we got to get to russia, crimea. you have an important guest coming up on balance. just a simple question will of the debts with all of your work in manhattan over the years, did your qamar left last night? -- did new york become more left last night

john williams is the one to pay attention to according to bill dudley who came out and said all these other guys, the three big ones are the ones you should watch. jonathan: you are paraphrasing a little bit. lisa: i am. jonathan: bill dudley said something that got my attention. you can start to marginalize yourself on the fomc if other people are not coming with you. is that true for any of these guys today? lisa: the issue to me is they don't want to be subject to groupthink. they want to demonstrate they are aware of inflationary pressures, of financial risk. at what point is it a positive for the federal reserve, even jay powell, for some dissent so people can say they are not tone deaf? they are recognizing what we are seeing but the message is being set clearly from the trifecta we will not move anytime soon. perhaps they are dovetailing this and executing perfectly. jonathan: dissent is a healthy thing. we cannot accuse the team met virgin galactic of groupthink. spce in the premarket for virgin galactic up by more than 12%. off the back of this headline, virgin galactic gets

reserve the ones that matter, and perhaps the one that matter most are jay powell and the likes of john williamstaking a very patient and transitory approach to the inflation we are seeing in tom keene's nine dollar coffee. 10:00 a.m., we get u.s.-made new home sales. new home sales have been doing very well. the only question here is what kind of supply is there in terms of lumber prices being as high as they were. they have come down quite a bit, as well as the very high prices keeping certain people out of the market, not wall street firms like blackstone. the u.s. is looking to sell $51 billion of notes. there was less demand for these to your notes as people compare for perhaps the fed to taper, perhaps to hike rates, perhaps as soon as 2023. jonathan: a lot of perhaps there. if you are playing the transitory drinking game, you do not get as drunk as you use to. the emphasis has shifted just a bit. lisa: it comes on the heels of the nonvoting members including jim bullard. how much does this actually reflect what will happen for the federal reserve especially because jay powell took a marke

people are saying that was not fed chair powell, that was not john williams, it wasn't rich clarida, have to pay attention to those dots. what is the purpose of all of these regional fed presidents coming out and having a more hawkish tilt, warning about froth, warning about potential upside surprises to inflation, if everyone just ignores them anyway? basically, if it is going to be fed chair powell and nobody else? jonathan: i think some healthy dissent is important. are we getting that now from this federal reserve? i remover one interview with jim bullard in the last couple of months when he almost said he was waiting for chairman powell to start the conversation about tapering. they are waiting for the chairman to almost queue what they can and can't talk about -- almost cue what they can and can't talk about. lisa: the idea here that markets get very concerned about any hawkish tilt, the fact that there was that sort of flattening in the yield curve does get people's attention, but still, is this what counts as dissent? jonathan: i don't know. you've spent the last couple of ye

you had john williams out today and took more of a dovish tone i don't think a lot changed relative to the fed's outlook on inflation. powell's comments were not consistent, the press conference wasn't consistent with that and you got a mixed message from rates and credit spreads rates came down and credit spreads tightened as well. that is not normal, and i don't think that is going to continue. i think it ultimately resolves with rates drifting higher because i think the fed is going to let inflation continue to run here a little bit. we saw the big rotation out of value, usually when you see growth do well it is when rates are falling and credit spreads are creeping wider a little bit. i do not necessarily think that will be the case here going forward and by my eye value looks oversold if you look at the pure value index as an example, 28% of those names above the r50 today. that was similar to what we saw last fall before value took off a little bit and even the rally we have seen in tech, a little bit tepid from momentum perspective so, i look at sectors like financials, material

john a. williams, charles wright. john a. williams, for me, when i read the angry ones -- i'm going the get this wrong, but it was between the '50s and the '70s, i believe -- i said, whoa. i'm writing something that feels original to me, but now i know that it's part of a large tradition and a longer tradition. .. >> did you it take more time than you expected, to kind of fully get picked up? just how did that whole journey go? >> yeah. there was no real pushback. of course, you get rejections, a bunch of editors rejected. it's not that every agent signed it. i got a few offers and representation and i went with agents, it felt that she were in my mind. mateo, a sales manual and we spent around 5 or 6 months working on the book and had early roaders and got good notes from him and when we on sub, it's not like editor wanted it and it got rejections but there were a handful interested and the first person i spoke with, my current publisher, i just saw how much she got it. i saw the enthusiasm. the whol

on the dovish side, john williams says it's too early to start talks. and she's not yet thinking about adjusting monetary policy. chair powell himself sticks with his earlier forecast and his belief that inflation is transitory so where does this all leave investors? joining me now is david, the chief market strategist at jeffrey's. unapologetically bullish always got the merch to back up the investment calls i know the blues aren't part of the story right now, but let's just focus on the investment applications here in light of what ylan just said about the infrastructure bill. what are the implications here for markets? >> so, you know, kelly, i think we've all been expecting something from what i can tell from what you said, it sounds a little bit smaller than many had expected so i don't expect it moves much of the needle. the fed debate as you touched it a number of presidents trying to stake rather aggressive real estate claims on the fringes they're typically the ones that do that or have been doing that. jim is a little bit of a surprise but he'

anna: fed chair jerome powell and new york fed president john williams.hey both see the fed nowhere near raising rates. the reassuring comments have bolstered investor sentiment. u.s. futures this morning, a lot of the conversation was around tapering before we get to the conversation about rates. very nice to have you with us. it seems to take a week for the markets to understand what the fed was communicating. is the reason that we have this new reaction function and we are not sure what that means even though jerome powell went out of his way to ask plain what that meant? >> indeed. the reaction was certainly unconventional. look at the behavior of yield curves, credit markets, intimate -- and to me it illustrates the fact bond markets -- the oldest lessons and the book -- lesson in the book, watch bond markets. bond markets have been flattening the past two months. despite what sounded to be rather hawkish statements, there was there a verse in flattening behavior. bond markets continue to flatten afterwards. the point is bond markets are questioning

james bullard speaks and john williams also in action. a lot of fed voices. releases the results of its stress tests on america's largest banks and institutions. a lot in focus. let's get back to the bank of england policy decision due today. it comes against the backdrop of rising inflation, the link global debates on monetary policy, and a slowing reopening of the u.k. economy. we are joined by lizzie burton - - lizzy burden. there will be a difference between the rhetoric and the signaling and the actual voting from members. lizzy: we expect a unanimous vote to keep interest rates -- they are likely to cite consumer price growth above the banks 2% target. the question is how temporary that will be. we have a growing minority of economists bringing forward forecasts of one the first post-pandemic rate hike will be. the bank of america, credit suisse, money markets are betting on a 15 basis point increase by june next year. it will be interesting to see how the bank deals with that tension between its recent position in the market. anna: what do we know abou

the vice chair and then john williams of the new york fed. a permanent fomc voter said he thinks the economy has substantial further progress to go. he's also singing the same tune for the powell chorus, which is, yes, we are watching it, yes, we can see the risks, but we think that they are not going to last. shery: kathleen hays. let's discuss all of this with our next guest, saying the feds tapering could in -- could lead to increased agility. joining us is the vice chairman at 1879 advisors. james, always great having you with us. this gtv chart on the bloomberg showing how the 12 month eps forecast continues to rise. ubs sees that this earnings gains will upset any taper. what do you think? >> i agree. i think the chances of a taper tantrum are -- i hate to say 100%, but pretty darn good. everyone loves free money and as the fed continues to mop up or starts to mop up the liquidity that is out there, and there's going to be a lot of pockets -- pockets within the market that are going to protest a little bit and i think we are going to se

>> john: william, get back when you learn more. sandra?ew off news reports. she's a framed of reporters? drew her a $15,000 fine as well as threats that she might be kicked out of other grand slam tournaments. osaka telling her two million followers on instagram, the truth is i've suffered long bouts of depression and had a hard time coping with that. she pulled out. osaka dabbled in politics. she with drew from a match to protest police violence against blacks. fellow supporters mostly sympathetic but dealing with the media is part of the pro game. she admitted tennis treats her well and apologized to the cool journalists. >> sandra: i'm mesmerizing by her swing. i know you love tennis as well. she says she gets anxiety. so why wouldn't he they allow her to pay the fine and move on? the tennis world was outraged. real quick. >> they think it's bad for tennis. she made $50 million of endorsements last year. she needs to play by the rules. hopefully she will come back. >> sandra: rules are important in tennis, all sports. thanks, howie. tha

john williams, where does he stand relative to the more hawkish voices? kathleen: he is definitely right in the middle with fed chair jay powell. in an exclusive interview, he said it's not time to even be thinking about -- in a way, i'm paraphrasing, hiking rates. this economy is not there yet. let's listen. >> right now, the key issue for the fomc is when is the economy going to get to this point where we meet these conditions, time for the lift of the funds rate? i think the attention is on the taper. kathleen: as for the taper, he said we are not anywhere near making substantial further progress that needs to be made for things to be starting the taper process. he also said that they need to be very careful. look at the upside risk and the downside risk for inflation and make sure they are correct that it is transitory. stores open if inflation gets out of control but jay powell and his team at the top are still arguing that there is nothing to worry about now. they will be watchful and wait and see what happens. haidi: kathleen hays. joining us for m

john williams, in the 1911 luxury touring this couple launched multiple venues, a theater, confectionary, a rooming house and a garage. buck franklin, an attorney in deep greenwood, he was known for defending the survivors of greenwood massacre and the father of civil rights advocates and historian franklin. these successful black leaders all faced darkness of the 1921 massacre. john stanford's hotel laid in ruins after the burning of the deep greenwood and was never rebuilt. stanford was indicted for inciting a riot and fled greenwood. the mount sinai black baptist church was just 40 days old and was destroyed. the cost to rebuild and refurnish. during the riot, homes were a lotted and burned and thousand of -- looted and burned and thousands of black people were left homeless. there were 88 indictments served against blacks and whites alike but all charges were either dismissed or ignored. the k.k.k. used the massacre as a recruiting tool, saying the riot was the best thing to ever happen to tulsa and sold postcards in tulsa's downtown streets to raise money. republican representative

. >> john williams, new york fed last night said supply and demand will adjust and if it adjusts dramatically, you might end up with deflation. >> thank you the spot prices will come down and the hoarders will be in trouble. david, this is not american pickers. these are hooarders hoarding billions of dollars, especially the chinese. once it's feature rich -- >> discovery plus doing a new show on billionaire hoarders >> there we go that's the show. >> maybe at&t can do that. oh, they spun that off and took the dividend >> i'll talk to david. >> that was at&t >> i'm saying that show is going to be on discovery >> yes >> and i managed to work in the dividend cut >> by at&t >> gratuitous reference. >> correct and the wall of shame to remind everybody. >> when we come back, what one wall street firm is telling unvaccinated employees when it comes to covid and returning to the workplace. got some good calls this morning on microsoft, on verizon, carrier, netflix, and a look at futures. back in a moment uno, dos, tres, cuatro! [sfx]: typing [music starts] [sfx]: happy screaming [music ends] if you

. >> thank you, john williams. >> exactly get me in the mood, getting all of us in the mood, it's openingt. she'll be supervising and holding kerry's man purse while they ride the ride >> his fanny pack. looks exhilarating to me and if you're planning a trip to a theme park or the beach, jill martin will help you make the most of it with a special summer on the go edition of steals and deals. >> craig you have a fun conversation on the third hour of "today" with nba legend, d. wade. >> i have been a d wade fan for a long time. he's living out his childhood dream now, he's hosting a game show we talked about that we talked about the nba playoffs, fatherhood, and a whole heck of a lot more as well looking forward to sharing that chat with you in a few minutes. >>> coming up, excuse me, tomorrow on "today," great music s to round out the week, adam levine and maroon 5 will join us for a special performance. they have great new music that they're releasing today. look forward to having them. >> concerts are back how about a final check of the weather. >>> let's look ahead to the weekend. we'l

interesting though we might get some fed speak next week, john williams new york fed may walk back somes well that does it for us. >> "fast money" starts now. >>> live from the nasdaq market site over looking new york city time square this is "fast money" tonight's trader lineup karen finerman, steve grasso, tim seymour and james mcdonald one of our traders says the market is confused, what they saw that was a real head-scratcher, we'll break it down straight ahead. plus chartmaster says look out below what is carter worth seeing in the charts later. >>> we're going bargain hunting, the beaten down stocks that are worth a second look.

i think that's what it's trying to avoid look, after what rich and john williams have said over the lastnconsistent or the language of the statement itself to change or change in any significant fashion? what you can probably expect is some discussion from jay powell at his press conference and i would expect actually it would be in his opening statement. if they tweak the statement, i think they'll try to do it -- on the tape perfecting issue, i think they'll try to do it in a very incremental fashion where i would look, becky, for changes in the kind of thinking there would be in the early paragraphs of the statement. what's the sentence on inflation say? what's the sentence on labor markets say this time? and do those sentences indicate some shift from the prevailing view they had just seven weeks ago? >> so, dan, that is big messaging to any traders, anybody watching this today, get your trigger finger ready. if this is going to be in the first paragraph or two, get ready. that's where you're going to see the action we alwayspenn this as a communications problem on the fed. i don't k

host: we appreciate that, john. william in cleveland, good morning. caller: good morning.ing about young adults and the crime rate and guns. in cleveland, we used to have, within my walking distance, we used to have six or seven basketball courts where kids could play basketball. the city took chainsaws or saws and cut down the basketball courts. host: why? caller: pardon me? host: why did they cut them down? caller: they said the criminals were selling drugs at the best cabal courts. instead of putting police on the courts to get the criminals away where the young adults had someplace to go to plea basketball and spend their day, they chased the good kids out to the streets. now the good kids are out in the streets committing the crimes because they have nothing else to do. i believe that is a big part of the problem, the kids do not have anything to do and crime sucks them in. the basketball courts, the younger kids had ways to go and play with the older kids and that taught them morals, wrongs, and rights. so that is part of the big problem. host: before them cut -- bef

in cinematic history, so visitors walk through the iconic jurassic world gate with the famous john williamstheir natural environment. stuart: and how long will this exhibition last? i mean it sounds like almost a permanent thing that's going to sit there for years and years, is it? >> well it will sit there for six months. i mean, we're going to sort of range from anywhere between three and six months, but our typical sit-down performance for one of these large-scaled exhibitions is about half a year , and then we pick-up and travel to the next city, and do another run for approximately the same amount of time. stuart: in this new environment, can you survive without packing the place every single day, for every single performance? >> yeah, it's a great question, you know, we have taken a long look at our safety measures, stuart, and you know, the first thing that we can guarantee is that the round room shows are going to be a lot of fun, and they will be magical, but most importantly, they will be the safest experience as possible. you know, something that we take extremely seriously and y

williams. nate ford. john henry. tina heinz. and there's monique francine. and so tanya is going to come up and speak to you about what our demands are for mega-black budget watchdog group. thank you. >> there's not enough noise in this audience. i need to hear y'all. i got some questions for y'all. you ready? so on the first of january in 1863, that was 158 years ago, the 16th president of the united states named abraham lincoln signed into effect an emancipation proclamation which changed the legal status under the federal law of more than 3.5 million enslaved african-americans, and let's be serious, we were called negroes then, from enslaved to free. so i've got one question for y'all -- anybody who is black in san francisco, answer my question. are we free? >> no. >> okay, there you go. so now you know why we had to establish what we've established. the mega-black budget watchdog group demands that the city and the county close the gaps of black san franciscans. and three reports and 55 years of studying black san franciscans found we are worse off today

next, university in washington william crowley discusses the presidency of john f. kennedy. and the myths that surround him. this video is courtesy of the university and is for the great lives lecture series >>