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now, my colleague sara eisen was at new york club today talking to john williams who wasn't ready to concede that at least explicitly they've admitted anything let's listen to that >> we haven't said we're done raising rates. we made a decision in our may meeting to raise the federal funds target range as i said, and we didn't make a decision of what we're going to do in our future meetings, but it's definitely or what's, you know, how will the economy evolve, will obviously affect our decisions. i think we've made incredible progress over the past year or so bringing interest rates from close to 0 to a little over 5% i think that brings real interest rates from inflation adjustment rates to a stance that should help bring inflation down >> so john, is the market ahead of itself? is it -- is it hoping for something that may be still out of reach >> i don't think so. i think the market's patiently waiting for the fed to realize that it's pushed rates very quickly and to a very high level. inflation has come down every single month since june when it peaked at 9% now we may get a stick

this panel is an honor of john williams, grade publishing colleague tragically dying of cancer in 55. german the commonness with great -- economists with great credit. jonathan: he was an advisor to powell as well. tom: this is the guy, i suggest lead the charge on this think we tossed around. jonathan: looking forward to the fed speak this morning. eric friedman joins us. always wonderful to catch up with you. are we had a risk of being sucked in to an equity market rally before the big fold? eric: we think there is a risk of people capitulating to the upside. our viewpoint has been what you shared earlier in program, we think variables work against both corporate profits and consumer. our strategy has been, despite concerns about were fed ponsetto out -- fed fund to sell out and consumer tracking area, we have done so with degree of debate amongst our team, but it is the right decision to shrink up the track. i think 4200 has been the level. if we see that level exceed on good volume, you can see people say let's throw in the towel and wait for better opportunity to be more negative

john williams is the number three of the fed because he's president of the new york fed. he said inflation will be over 3% by the end of the year. if it is 3% with a fund rate, it seems to be that john williams is getting ready for the dovish time to pause. four weeks from now we will get a better view of how it turned out, won't we? rishaad: kathleen hays, global economics and policy editor. let's check in with the markets. mixed bag. hong kong, just fascinating. we got it down by 2/10 of 1%. shanghai, similar margin. the nikkei has been driving higher given that it's return to growth and that of course after a technical recession. taking a look at what is happening with the dollar unchanged. we did have some moves there with the data that came out. let's look at the treasury market. what we can see there is the yuan at five month lows with a seven handle. we are looking at a 30 year treasury yield, which is declining. it is really a day after we saw yields rising across the curve there. and the policy sensitive front, the biggest mover, u.s. data reinforcing the message

working with thomas from secretary janet yellen, also former chair on the fed, and from president john williams. and both of you worked closely with thomas as well. i would like to you both an opportunity to share your own thoughts about his contributions as an economist come as a central banker come as a colleague. then, they wouldn't show what you. >> sure, it's great to be here. i was his thesis advisor and he worked with me on a book on inflation targeting when he was still an undergraduate student at those long time ago and is not yet as exalted position at the fed when i was doing jay's job. i don't have any short little as to give but if you want to say that i think there's were two kinds of accomplishments a person good at. they could have curriculum vitae a couple shirts and they could have what i call uag accomplishments. curriculum vitae competence of things like publish papers and promotion and awards and recognition. you just punishments e things your family members, your kindness, your support, helping other people and so on. thomas was one of the people, few people, who scored hi

the open symphony performs the music of john williams at paramount theater on may 4. celebrate northern california's next generation of musical theater talent at the awards ceremony >>> solutions, we know that is what so many of you want, here on cbs news bay area, we highlight people building bridges in our community and engaging in service. over the past year, we have been telling you the effort to save the salmon is a part of a growing partnership between state and federal wildlife agencies and a small california tribe that has been fighting to save those fish for years and trying to get them to come back home. on monday, the historic pact was signed to ex >> reporter: today, if we put down our footsteps and put down some songs, that is who we are sending that out to , our elders and ancestors who were here before us. for the tribe , this day would have seemed improbable or impossible just a few years ago, a tiny california tribe without federal recognition signed a formal agreement with state and federal partners when the moment arrived to finally signed the docum

we were following exactly the problem that was set out by the other john williams back in 1931. simply put, thomas had a hammer, we found a new nail. the hammer was a common filter he had used in earlier research, inferring the behavior of an object from effects on other objects. on december 14, 2000, after a few short months of working together, we wrote our ideas in a memo to the board of governors. the memo started with a old coloration. -- a bold declaration. this memo was the first report on a broader project to set alternative estimates of the equilibrium rate and the monetary policy. in may of 2001, our estimates made their way into the blue book. looking back and going through these documents, i am struck by how quickly the ideas came together. but i must acknowledge the unwavering support that we received from senior leadership at the board to bring research to policymakers. many of those senior theaters are in this room, i think you for that. within a year of writing the memo, put out an academic version. and in that first working paper, we had a section of implication

federal reserve bank of new york president john williams is signaling he's open-minded about the central banks next policy move in june. he said he will be monitoring credit conditions closely empathetically the effect in the outlook for growth, employment and inflation. a jury has begun deliberating in the lawsuit that claims donald trump rate a woman in a dressing room in new york city. the former president denies any wrongdoing and if the jurors believe the plaintiff, they can seek punitive damages. global news powered by more than 2700 journalists and analysts in over 120 countries, this is bloomberg. ♪ jon: welcome to bloomberg markets. mat let'st get a quick check on the markets. we have seen little movement: one third of 1%. you see the 10 year yield climbing just less than one basis point, just over one basis point at 35205 as investors let go of some debt. you see the dollar index seeking out a bit of a gain. 1221 is the level on the dollar index as the green bag gains against its peers and you see nymex crude coming back up nine cents per barrel. just about the same as yesterda

paintings, including john william waterhouse , lady of john william waterhouse, lady of sharon,— johnnd the times they in. can shed new they live in. we can shed new iignt— they live in. we can shed new light-britain's— they live in. we can shed new light britain's greatest light on britain's greatest astwssks— light on britain's greatest artworks showcase base. artworks and showcase base. inat-s— artworks and showcase base. mats-wat- artworks and showcase base.| that's-word..wider that's an awful word. a wider tange— that's an awful word. a wider range perspectives ideas range of perspectives and ideas as wet. — range of perspectives and ideas as wet. in— range of perspectives and ideas as well. i'm now— range of perspectives and ideas as well. i'm now joined by iiisnaei— as well. i'm now joined by michael mosbacher, a telegraph and michael mosbacher, a telegraph ant saestatss— michael mosbacher, a telegraph and spectator contributor. iiisnaei— and spectator contributor. iiisnaei is— and spectator contributor. michael is this- and spectator contributor. michael is this a reasonable t

john williams gets a vote at every meeting. do they intend to signal a pause?anking on cuts when they continue to say there are no cuts. there's a lot of questions about him for the outlook, and not to mention the debt ceiling. >> and also tightening of lending standards. last time we had him, he said he wasn't really seeing it. >> he gave a speech -- >> and then i had scott reckler on saying he disagrees with him. >> he made headlines saying he doesn't see a big impact we're waiting, there is an impact as we just saw in the senior loan officer survey, it's not an extreme credit crunch as some of the worst fears have been. doesn't mean we haven't seen it yet. >> one more quick break and then we're back ♪ imagine, a car that goes as far as it does fast. as sleek as it is spacious. as smart as it is beautiful. introducing lucid air. experience the best. ♪ ♪ if you have this... and you get this... you could end up with this... unexpected out-of-pocket costs. so if you're on medicare, or soon to be, consider this. an aarp medicare supplement insurance plan from uni

john williams lead the san francisco symphony and of course we recognized 95% of and it was .ic is happening. why is that so important to choose pieces that you're young musicians will love and record nyse and also your audience will get as well. changes lives. it does it transforms you. it's cathartic. and you, you know, embody. and um, represent these multicultural experiences and so were amazing ambassadors of culture because we transmit this and body it and just demonstrate the power of harmony and what happens when we act together, and that's wonderful. celebration of diversity also performing stravinsky's rite of spring, another hopeful, very meaningful peace when you're putting together a program to celebrate 40 years of incredible work, what's going through your mind? what you know, the youth orchestra is celebrated its 40th anniversary. so is davies symphony hall and myself as well. so we're all born the same year, so to have grown up in this amazing organization in in the youth orchestra. i mean, you played viola. how are how young were you when you joined team? my g

david faber will speak with elon musk you can watch it at 6:00 p.m and loretta mester and john williamsebt ceiling is calling out another warning from janet yellen that is felt in the t-bills and credit default swaps those are securities of n nonp nonpayment the cost to insure the debt is higher than greece and mexico and brazil those are all countries which defaulted several times. let's bring in jeff kleintop at charles schwab. >> thank you, frank. >> let's touch on that for a minute what are you hearing from clients when it comes to the worries about the debt ceiling what are they saying to you? what are you telling them? >> this is the number one question that we're getting. concerns about the debt ceiling showdown congress ended up raising the debt ceiling 21 times since 2000 despite each time being a headache chance of default is low for investors worried about hedging or worried about negative outcome, there are a few ideas you may want to consider for the doomsday preppers. >> i love this you come with great ideas, jeff. you have warren buffett inspired ideas. you are looking at

recent john williams comments suggest that they could go either way.meetings, or close to the top. then the interesting question is how long to we stay at the top? haidi: bloomberg opinion columnist dan moss there with a look at things to come, strap in, i guess, further volatility ahead when it comes to global central bank policy. take a look at how we're watching futures open up in europe at the moment. this of course as we are bracing for that c.p.i. inflation number out of the u.s. in the morning. this is a picture across the euro stock 50 futures up about .2%. as we are also seeing german daxx futures seeing a little bit of upside there as well. this after u.s. stocks really slumping in anticipation of that inflation report. we're also watching the reaction when it comes to bond futures as well. and quite a bit of volatility seen in treasury markets on account of these ongoing debt negotiation talks. and also watching for how euro dollar trades given some of the warnings of a real risk being dealt to the trajectory of the greenback, goldman sachs

dani: that was the new york fed president john williams.billionaire investor says he thinks the u.s. economy is teetering on the edge of recession. heber makes a hard landing. he is not the only one. amid concerns, sell side strategists are increasingly calling for stock market declines. morgan stanley, goldman sachs and bank of america all see the s&p 500 ending the year at 4000 or below. it is currently just above 4100. joining us is fabiana fedeli, cio of equities and multi-asset at m&g. are you also expecting declines for the rest of the year? or are we pretty fairly priced at this point? fabiana: the overall equity market if you look at it globally, valuations call for a mild recession. but there is a lot of difference below the surface. you look at the u.s. market, which is still priced above many other markets. if you look at equity premia in the u.s., they are half of what they are in many other markets, including europe. that perception of quality for the u.s. market is starting to falter with the debt ceiling discussion and what i

an are at the end of the earnings season foot looker and deere report today and fed president john williamsd releases the report which traction assets and liabilities of banks >>> the s&p is at the highest level since march. you see futures in the green as well let's bring in erin gibbs and tiffany mcghee ladies, great to see you friday morning. >> good morning. >> erin, i'll start with you recently, a big run up with the nasdaq and a winning streak with the nasdaq and s&p how do you feel about this ral a -- feel about this rally? is this sustainable? >> this has been going since mid march. i think the past year we had a nice two weeks of consolidation. i think having a rally for the last couple days does feel sustainable. however, we are getting a little expensive when it comes to valuations when the outlook is a bit iffy, to say the least, when it comes to profit and expectingpectatio margins, i don't want to get too expensive. i don't think we should get out of the s&p completely. we need to be selective over which stocks we include. >> bank of america said get out at 4,200 agree or disa

it seems to me -- and john williams, president of the new york fed -- recently said it has nothing too with the banking crisis. let's listen to what bill dudley said when he was asked about this after the rate decision. >> i think the fed missed the fact that the interest risk they created my being late to take monetary policy and flooding the bank with deposits and quantitative easing that they created part of the stress on the banking system. monetary follows the -- monetary policy by 5%. kathleen: you were at citibank in various roles before you went to the fed. how do you respond to bill dudley's comment? dennis: i respect bill very much. i would portray it differently. the fed pivoted rapidly and rates rose very rapidly but it was well signaled. any management team of a bank that did not understand what direction rates were going and see the risk they were going to face was, it seemed to me, asleep at the switch. yes, the fed created the conditions because the fed is the one that sets the policy rate and to a great extent the short-term interest rate environment. but, bank manage

john williams made that point.onetary policy and a time to reconvening would be in the fall. they will have a pause, they won't declare victory, mission not accomplished. i think they will want to see how the data flow and inflation plays out. guy: when i hear some members talking about the possibility of hikes, should i assume what they're doing is a bit of expectation management? the best form of defense is offense. if i talk about hikes, the markets won't price in cuts. rich: there is an element of that and that is not unimportant. but it is a big committee, 19. i think powell deserves credit for holding them together. they have had to 100 basis points rapidly. i think he has held the committee together and i think they will hold together on the pause and perhaps revisit later this year. alix: if the fed was successful in having the market price out the rate cuts, could not correspond to a rate hike? rich: yes, in the sense that one factor that holds down bond yields right now is some probability of those cuts a

new york federal reserve president john williams and cleveland fed president loretta mester both takingwait and see approach. richmond fed president thomas barkin says he'd still support a rate hike. your thoughts. so i think he have to nail on the head maria before right. we've built these portfolios up over time. zero interest rate policy quantitative easing since 2008. we saw deposits flow from the big banks to the small banks. we saw a rush of cash in 2022 2022 . now we're left with 500 basis points of tightening. i think it's an appropriate time for the fed to wait and see. we published our weekly this week we put out 10 charts of leading indicators if you look at the index of leading indicators we are approaching levels. now that we've only seen in 2020 with the pandemic in 2008 with the global financial crisis, so if there is any forward looking trajectory here, the economy does seem to be slowing. it's a great time for the fed to pause. i hone in on new york fed president williams yesterday, he said explicitly, we need to gather information. we need to analyze that information,

john williams, president of the new york fed, #3 at the fed in fact, says inflation is too high, bute thinks it is moving in the right direction. by the end of the year it will be just a little over 3%. he is a bit harder to read. very much in the middle, but he definitely seems to be moving more on the side of "maybe we can wait and see." but as they point out, four more weeks until the next meeting and there will be a lot to be seen between now and then. shery: and between now and then, a lot of safe haven assets rallying, emily, but there are other hedges, i heard the likes of alternatives to the dollar like the swiss franc, even the brazilian real. what are some of the popular trades right now? emily: we are seeing a pretty big bid for gold, i think it has to do with fears of lingering inflation. also perhaps of recession. and the drama around the debt ceiling. i have heard strategists say go into gold right now, and you see that in the price action. to go back to the citi basket of stocks, that citi team has set a lot of clients have not been asking yet how to hedge this debt ce

the open 70 performs the music of john williams in a may for concert at paramount theatre. celebrate with california's next-generation of musical theater talent at the awards ceremony may 8 at the center is a center for the performing arts. $25 tickets are wake up, achievers. the mo of every hour of ifepg. this is a next level bed, for a next level you. table? my circadian rhythm is kicking your circadian rhythm's butt! it's not a competition. i know, but i'm still winning! listen, this is..this champion sleep right here. that's i got knocked out in the first round of the playoffs sleep. >>> welcome back. it's a wet and chilly start. daytime highs in the upper 50s, lower 60s. grab a jacket and umbrella and your coffee. here's the good news. we do try out later tomorrow. we still have to get through the rainy conditions with isolated, have your pockets of rain from san francisco all across the golden gate bridge into the south bay where showers are starting to trend a lot lighter. >>> i could use some sunshine. >> yes. >> i have a birthday party this weekend. >> pp you can w

for again month over month four tenths of 8% and again, year-over-year 5% your federal reserve john williamsdown and leaving the door open for a pause at the next policy meeting which happens in june independent advisor in alliance chief investment officer chris decker valley thank you very much for being here your thoughts on inflation and how that impacts markets today. >> inflation is important after what we've been talking about the last year end half in inflation comes in high 5.5% on the core reading which would exclude energy, food and energy excluding then that could be hot were looking to see what federal reserve with the numbers we think they will pause next month but if the numbers come in closer to 6% it will be a problem in the need to raise rates again it's important what happened to the numbers at 8:30 a.m. that could determine the path of the fed rates in the near-term. maria: as they look at the month of april i know the price of oil is elevated that will be an underlying component to the cpi today what are you expecting and how much negativity in terms of elevated inflation

sanctions on bad guys if you don't the currency in reserve status new york federal reserve president john williamses not come down leaving door pep or pause at june meeting gordon do you think fed is done. >> they have to let the dust settle a little bit we can't continue to put the pressure on our own economy in this way look. i get that it inflation is a concern. but we're not talking about, you know, runaway inflation whether it is -- a little bit more a little bit less, consumer will figure out how to detail with that more important macro position. maria: macro position is slowing. >> right, so, with that as backdrop, they have to take it easy here they have to let dust settle got to stop. maria: what do you think? >> we have high, 500 basis points of rate hikes in the last 14 months we have never really seen that kind of extreme rate rising environment these rate hikes, one on you have to see it work being through the system a little bit. maria: supposed to be a yearlag, senator mike plea from utah tweeted this interest on national debt is up 40%. >> we are 374 billion dollars in interest pay

outcome of the day after the oscars, he was like texting me pictures he took of me and my wife and john williamsturning around and taking pictures. he's like a father. yeah, he loves me and he's in complete denial about how much weed i smoke. >> jimmy: is he really? >> yeah. >> jimmy: he doesn't want to know about it? >> i don't bring it up that much. people make jokes. >> jimmy: is that the only person you are self-conscious about that in front of? >> pretty much. >> jimmy: wow, did you ever tried to get him to try it? >> never. never. he talked about it that she will joke about it and stuff like that, but no, i don't want to be the guy that like breaks steven spielberg sprain. that's a heavy burden, that's the last thing i need. [laughter] >> jimmy: a real feather in your cap. >> and i ended cinema as we know it. i don't need to do that. the one after the show you said you went to the parties. which party did you go to? >> i went to the "vanity fair" party. that's the one i was invited to and it was fun, i hung out -- i smoke some weed with megan thee stallion and her brother buried that was g

this as federal reserve vice chair john williams said at the noon hour the banking sector problems we've seen since march appear to be "limited in scope" to just a few banks. do we believe that? all right let's get to the floor show to ask about a lot of money in the stock market, jeff sica and dan geltrude. a potential negative and potential positive, that is earnings, 86% of the stuart: has reported earnings, 70 plus percent have beaten on revenue and expectations. which side of this are you listening to and investing around? >> well i'm looking right now what's going on in washington d.c. because that's huge. it's huge. why? because these two sides who by the way have no fiscal restraint at all, republicans and democrat s, are going to try to get together and work out a deal in my opinion, a deal does not happen until midnight before, if you know what i mean. meaning they have to get through all their political dances in order for them to ultimately get to a compromise. they have no choice. there has to be a compromise. liz: there has to be but let me just say for the republicans are

william, what have you been seeing? >> well, john, mexican officials tell me they are afraid things are going to spin out of control in the next few days. on this side, of course they may overwhelm the ports of entry. over here i am told the border patrol is out of agents, and the processing centers are full, why you see this. i've never seen this before. you have 700 migrants who are camped out between the primary and secondary fence, that means that dozens of groups and families have used a ladder to scale the first fence erected by president bush in 2004 but could not get past the second higher fence, and they are now waiting for cbp to open the gate and start processing them in small groups. now check this out. migrants are actually ordering doordash and food deliveries on the mexican side to get by until we take custody. also they believe as the migrants you see here inside this shelter, that the u.s. is obligated to hear their asylum claims when title 42 drops on thursday night. in tijuana, mexico's second largest city, you hav

that the fed is -- >> i'm sure -- >> are you sure that the fed is done raising rates >> you heard john williams> so here's the way i would describe the fed we are not subscribing -- very clearly, year not subscribing to even that is priced into the federal funds futures market in the back half of this year and that's starting in late summer, early fall we're not at that point. but for that to happen -- >> if you're not at that point, how are you bullish? that will be tightening when that gets priced out of the market >> the easing can only happen in a hard landing scenario. we're not hoping for an easing over the summer. if that's happening, something is broken. i think the earliest we can get to that easy is december of this year, early next year, not based on the hard landing scenario, but on the fact that inflation probably at that point could be between 3 to 3.5% and you do not need a 5.25% federal funds rate at that level. that's where the soft landing scenario comes in. they're easing because inflation is falling, not because of hard landing. and you guys have made the point that there is

most of the cost leaders have been saying and i heard what jay powell said and what john williams saidthe recent speech we will update those views once we hear from both of those folks later today. it is interesting as steve was saying the probability is shifting in the market there i do think that reflects the tone of the fed talk and flow of the data which is not friendly look at the numbers on jobless claims the rise in claims is the evidence of the labor market cooling off. it reversed in the last week everybody seems to agree that a cooler labor market is a pre-requisite to getting core inflation down. >> if there is a problem in the banking sector that pops back up and makybe that changes their mind and the debt ceiling would change their minds does this other data weigh on them heavily >> for sure it does. i think the key here -- first of all, greg is right about the job market not going the fed's way i'm looking at second quarter growth forecast. you had jefferson saying he expects the second quarter to be below the first quarter. i have forecasters showing the acceleration fro

we get fed speak today with phil of jefferson and later this afternoon, new york fed president john williams. the fed speak re-ignites week as president biden at 4 p.m. in washington, d.c.'s meeting with republican leaders. democratic leaders will also be there. they have already dampened expectations that perhaps we will get the contours of what some sort of deal will look like. earnings continue today and we are more than 85% of the way through this earnings season and today we have oil majors like duke energy as well as aftermarket occidental petroleum and interested in some of the consumer discretionary like airbnb after the bell. our next guest pointed out that three sectors are showing double digit earnings growth in this earnings season including consumer discretionary. i find that fascinating and a time when people talk about a potential recession. jonathan: the chief investment strategist of oppenheimer joins us now. he is constructive on this equity market. jp morgan is not -- if great cuts happen, it will be the onset of a recession or the market falling. why do you think he is wr

working with thomas from secretary janet yellen, also former chair on the fed, and from president john williams. and both of you worked closely with thomas as well. i would like to you both an opportunity to share your own thoughts about his contributions as an economist come as a central banker come as a colleague. then, they wouldn't show what you. >> sure, it's great to be here. i was his thesis advisor and he worked with me on a book on inflation targeting when he was still an undergraduate student at those long time ago and is not yet as exalted position at the fed when i was doing jay's job. i don't have any short little as to give but if you w

williams is here! [ cheers and applause john stamos is joining us! pplause mo willems is here [ cheers and applause and we got great music from chvrches stick around, we'll be right back with michelle williams, everybody. come on back [ cheers and applause ♪ >> finally, i thought he's gonna like that show, 'cause he watches "full house. but he mocks me for it [ laughter ] like -- i'd be like, yeah, i'd be like, "uh, you know, billy, can you put your toys away." he'd go, "you got it, dude." [ laughter ] you know, like -- like -- seriously. ♪♪ the thougught of gettining screeneded ♪ ♪ foror colon canancer made me e queasy. ♪♪ ♪♪ but now i i've f found a y ththat's s right for r me.♪ ♪ foror colon canancer made me e queasy. ♪♪ ♪ feeeels more eaeasy. ♪ ♪ foror colon canancer made me e queasy. ♪♪ ♪ my y doc and i i agreed. ♪ ♪ i i pick the e time. ♪♪ ♪ todayay's a a good day. .♪ ♪ i i screened d with cologogd and did d it my way!y! ♪ ♪ todayay's a a good day. .♪ cologuard d is a one-e-of-a kind d way toto screen fofor colon cacar ththat's s effectivee and

john: six weeks beginning october 2nd, unless there is any further delay. we will be watching it all unfold here on the fox news channel. ted williams, always great to see you. thanks for joining us. appreciate it. >> my pleasure. >> john: stakes could not be higher in this case in so many different ways, sandra. >> sandra: and your hearts are with all those families involved, all the students who have gone through so much at the university, and come down to the beginning of the trial they have confirmed as october 2, 8:30 a.m., october 2nd. this just happened in the courtroom, about 14 seconds, the just entered the not guilty plea for bryan kohberger a few moments ago. >> mr. kohberger prepared to plead to these charges? >> your honor, we will be standing silent. >> ok. because mr. kohberger is standing silent, i'm going to enter not guilty pleas. >> sandra: so that was that, john. just a few moments ago. we'll see where all this goes. but to your point, a lot at stake and many, many will be watching. >> john: i would we interested to know the reason for him standing silent in court. it happens on occasion, doesn't happen very ofte

william: a key part of the journalistic tradition. johnld, congratulations to you both from al.com. thank you so much. guest: thank you. guest: thank you. geoff: geoff: and that is the newshour for tonight. i'm geoff bennett. thanks for spending part of your evening with us. >> major funding for the pbs newshour has been provided by -- ♪ the ongoing support of these individuals and institutions, and friends of the newshour. >> qnod is a proud supporter of public television. on a voyage, the world awaits. a world of flavor. diverse destinations, and immersive experiences. a world of entertainment, and british style. all with cunard's one star service. >> 425 years, consumer cellular's goal has been to provide wireless service that helps people communicate and connect. we offer a variety of no contract plans, and our u.s.-based customer service team can help find a plan that fits you. for more, visit consumercellular.tv. ♪ >> the ford foundation. working with visionaries on the front lines of social change worldwide. ♪ >> and with the ongoin

they all agree on waiting to see what happens, but the inclination for john williams seems to be maybe we should pause now. haidi: of course, we are also getting comments out from the fed's singles be talking about a potential soft landing for the economy. we heard a couple of days ago bostick saying he does not see rate cuts until well into 2024, really pushing back at the bets we have seen in markets. a singles be also saying there is just a long ways to go when it comes to the economic outlook allowing for potential hikes to be on the table. we will continue to watch for that. in the meantime, let's get you to vonnie quinn in new york with first word headlines. vonnie: vudu and fintech -- the two leading international -- cross broker -- cross-border brokerages have been allowing traders to avoid fees. key u.s. lawmakers blame former managers of silicon valley bank and signature bank for the banks' collapse. some lawmakers questioned u.s. watchdogs for not doing more to prevent the turmoil. >> we know your banks were fatally mismanaged. the next obvious question is -- why? why did yo

of fed speakers out over the coming days including neel kashkari, jim bullard, rafael bostick, john williamsng them. huge lineup, really the opportunity for the fed, if they need to push back on this narrative that we will see, as i said, cuts as soon as september. >> of course casting a long shadow over investor sentiment is a lot of uncertainty when it comes to china. the government has launched a nationwide anti-espionage act on consulting firms, accusing one of leaking state secrets and having ties with foreign intelligence agencies. let's discuss this with the friedman sharon china studies for strategic for international studies. always great to have you with us and we are all hoping that you can help us on what's going on and what the intended strategy is because from the outset, xi xiping on the government are trying to restore international confidence and domestic confidence in china as an investment destination following covid zero. how does this get them there? >> it doesn't, what has been a head scratching his there's makes messaging coming from beijing. part of this is there has

knows that the marketplace is expecting that they're going to be easing down the road in fact, john williamss year that if they're successful in bringing inflation down to the three handle, then it means real interest rates are getting even tighter. so i think it'sa matter of timing and they're going to keep talking hawkishly about the notion yes, we will ease into fullness of time but time ain't full yet. i think that's the full message. >> on the debt ceiling it was interesting to hear bill gross this week, and libby cantrell has consistently said by the debt ceiling this will get worked out, there will be drama but they're not going to let this fall into the abyss what do you make of that are they just looking at what history has taught us? >> i think it's history and basic common sense warren buffett has said the same thing. i think he said that with becky a couple weeks ago and that we're not stupid enough to put it bluntly as a counted, to default on our debt, but we are silly enough to play the game to the 11th hour. so i think that we will get past this but it's going to be a very no

. >> given your conversation with john williams the other day. >> no cuts none of them are talking aboutalked to on wall street is talking about cuts do you hear anybody expecting cuts >> not really, no. >> swap market telling us otherwise. news from the fdic on deposit insurance. to leslie picker on that leslie >> hey, sara we know that protecting the uninsured depositors among silicon valley bank and signature bank were on a sizable hold on the fdic fund. the fdic out with a proposed fund with the biggest banks with the most uninsured deposits funding that bill. the fdic is proposing to collect an assessment at an annual rate of 12.5 basis points over eight quarters beginning in 2024 the rate was derived from system that the two march bank failures cost an estimated $15.8 billion to protect uninsured depositors. the fdic says almost all of the special assessment will be covered by the biggest banks, which according to the fdic, benefited the most from the systemic risk determination. 113 banks will be subject to the assessment with banks whose assets are greater than $50 billion, payin

they will meet, paul and bernanke in honor of john williams dying young.n to blanchard of a reduced r starred. will we get back down to a lower rate, a lower yield regime? all of these fuzzy concepts though -- jonathan: all of these fuzzy concepts though. tom: lisa, can we believe in a six-month the goal? no one is looking for the yield structure short-term to move higher. lisa a.: the person who we should have asked about that is lindsay piegza because she forecasts a 6% fed funds rate. with respect to do tightening and r start, they take a dartboard, and r starred, you take a dartboard and throw it, you are likely to -- tom: let me start with you. we got it wrong. with the bank of england last week,, citigroup, we got it wrong, there are these other factors going on besides conventional bowtie economics. it is not working. there are other issues like technology, pandemic, a war in ukraine. jonathan: there are plenty of things we got wrong. one of the bigger issues we got wrong is just how much this economy could tolerate higher interest rates. it was unt

tom: most important headline buried was john williams of the new york fed saying that r-star would stay- neutral on rates, speedy resolution to the debt ceiling but would argue for a modestly high yields in the context of continued strength in the data. that is what we have had. we have had decent data. tom: what is important is first order academics. subadra rajappa joins us now. i will cut to the chase, the equity markets we talk about a collar made in commodity markets the trend of copper, whatever, what is your world like when the two year yield is collared? how do you respond to a trade on yield and the derivative space? subadra: as you pointed out,, all yields across the curve in the treasury market, looking at a range for two-year around 4%. the same with the 10 year. it has been a tight range. what that tells me broadly speaking is there is no strong conviction in the market on yields going higher or lower. the fact that we are stuck between a rock and a hard place. the data so far has been very strong. the consumer is resilient. inflation is sticky. that would argue for higher

we heard from john williams a couple of weeks ago, he doesn't think it's because they went from zero> it has a lot to do with how much the fed has tightened. the fed tightens until something breaks. clearly, they moved such a rapid pace there is an impact on financial stability. we are seeing it in some of the banking areas. it doesn't mean that credit risk is a big issue. it's hard to divorce them from what's happening in the banking sector. jonathan: do you think it gets worse? kathy: we are hoping this is the last rate hike. it tells you a lot about this fed. they hiked in march when we had banking sector problems. one would think this is probably the end of the rate hike cycle at this stage. lisa: i wonder what risk there is for the federal reserve. on friday, they talk about what went wrong with svb. there are ongoing questions about how accurately they are regulating some of these banks. does this going to upend the leadership at the fed? kathy: at least we will get some dissenting votes this week, at least one or two. i would think -- i don't know, i don't have any particular

cleveland fed president contrasted those of other fed officials and one was your fed president john williams who says he is comfortable with a wait-and-see approach in the fed meets again june 13. in japan, the economy expanded at a faster rate than expected in the first quarter, gross domestic product rose and annualized pace of 1/8 of 1%. that will likely keep speculations about possible early election and a potential central bank policy change. ubs season estimated 4.8 billion dollar gain as a result of its takeover of credit suisse. the swiss bank warns that it faces billions in potential legal and regulatory costs from the rescue of its former rival ubs stands to benefit. theranos founder has lost her final request to stay in a prison while she if it -- appeals or fraud conviction. she will have to report to prison soon and was sentenced to more than 11 years behind bars for defrauding investors at her blood testing startup. global news powered by more than 2700 journalists and analysts in over 120 countries, this is bloomberg. ♪ >> to make sure the presidency is addressing any of the c

tom: that fulton to the stunning headline from john williams of the new york fed looking into the lower talk about what is happening in the property market. it is one of the things we can see in commercial real estate. we can all see it, what is developing in cities and elsewhere in the country and you speak to professionals in the market who know about cre. they tell me everything is ok. there is no crisis. what do you see? bob: i see an imbalance. i traveled through the u.s. a lot this year. i have been to nine cities, suburban office space demand is very high but when you go into the central business districts, the officers are empty and those used to be flagship properties -- the offices are empty and those used to be flagship properties before covid hit. in 2019, i think of the reit's that were put together. what you wanted to see in their west central district business office space, it was 99% leased. there is someone in peace buildings now but the leasing rate has dropped from 99 to -- 99% to 85%. the rear pressure comes in and evaluates it for that -- the re-appraiser comes in a

tom: john williams of the new york fed speaking on the changes before this inflation report.has moved to the markets and continues to in the last 10 minutes. i am using the 10-year yield as a barometer down 10 points to 3.95%. we have moved even lower, note price higher, yield lower, to 3.94%, a substantial move. i will call that 15 basis points. the nasdaq 100 up .8%, s&p futures put it on up 28 point, 4162. michael mckee is with us. he's experienced at talking with fed governors and presidents and has trouble with former fed presidents because they are afraid of him. william dudley joining us, former new york fed president and bloomberg opinion columnist. i have eight ways to go. i will do inflation and mckee i am sure will have smarter things to say. 5% is flat out acceptable. everyone understands that. what inflation rate is that moment where bill dudley relaxes? bill: i think when the fed gets the inflation rate down into the 2% range and there's more slack in the labor market and wages are rising 3% to 4% rather than 5% to 6%. the fed is making some progress on the infl

william: let's say john roberts says as we have been hearing, we have got this, don't worry about it. do you think that will be enough to satisfy congress but this drumbeat and looks awful -- we should say none of what has been disclosed. the failure to disclose them is illegal. you can get gifts but you have to acknowledge. do they have to step in and acknowledge? >> there is a huge partisan divide. there is no middle ground on the hill and republicans are saying democrats are going after a conservative court. and democrats are saying they are protecting a conservative court. on the senate judiciary. senator feinstein a well known member, she has been absent sings february and they do not have a majority to advance legislation at this point or compel how to testify. anything like that. and if you look at the chairman and i talked to him, senator dick durbin, my hands are tied. it's sad, but what else can i do. it has frustrated some democrats like senator whielthouse and bring more attention to this and what senator feinstein there is little they can do. william: i turn to january 6

william: john egeland of the norwegian refugee council, thank you so much for being here. >> thank youeries out this month about traveling the wide world looking for the happiest places on earth. but you might be surprised by the travel guide, a man many know for being stuck at a desk job, in an office. geoff bennett caught up with actor rainn wilson during this mental health awareness month to discuss his personal and professional journeys. it's part of our arts and culture series canvas. >> how are you feeling? >> i don't want to be this cold. i'm scared. reporter: wilson travels far and wide from iceland to ghana. and beyond in a six part series. wilson is recognizable to many as dwight schroot from "the office," the critically acclaimed mokumentary sitcom series that ran for 9 seasons on nbc. over the years, he has taken on other projects from films such as juno, to more recently weird: the al yankovic story. while he continued the comedic work he also turned inward, , asking bigger life questions through a media company he founded called soul pancake, and, now with a book "soul bo

john miller, stick with us. elliot williams, stick with us as well. we have much more coming in.he jury now back deliberating, but very importantly guilty of seditious conspiracy four members of the proud boys who have been on trial, a four-month long trial. the jury handing back a guilty verdict on the serious charge of seditious conspiracy. much more coming in from the courtroom. we'll be right back after this. ♪ ♪ (engine revsvs) ♪ the energy of light... everywhere. ♪ it just has a lot of control over me. ♪ i dream what i wish existed... and then i install my dream. the new 2023 lincoln corsair with available lincoln bluecruise. ten years ago, i inventedthel . and ring secity cameras for moments like this. [ring floodlight c siren sounds] [bear growls] and ring alarm with professional monitoring. ten years of reinventing home security, and tens of millions of safer homes. protect your home, the way i do. learn more at ring.com whoa. okay. easy does it. we switched to liberty mutual and saved $652. they customize your car insurance, so you only pay for what you need. with the m