>> larry goldman. nice to see you again sir. >> hello, larry. how are you? >> great. >> a good virgan too? >> everybody. >> how many live in virginia? >> oh, my. >> way to go. >> home court advantage. >> an pneumoniaed earlier in the post about the gerryman derring, what can you do so we in village have a good chance at competitive elections to find the best people? >> that's a great question. i have said i am going to veto this particular bill. you had a particular member of our state senate who drafted the bill that took one republican precinct from a democratic senator and put one democrat the democrats saying we are not paying this game. i would veto that. you raise an interesting point. i talk about this a lot. i go back and the issues we have in what's going on here i have put everything back at partisan gerrymandering. the house of representatives, 80 first of the members of congress have no chance of losing the general election. they don't have an election. >> over 90% really, the last few years. >> ridiculous. >> in business you have competition, ke

. >> larry goldman. it's nice to see you again sir. >> hello larry, how are you? >> everybody is a constituent. >> quickly how many live in virginia? fantastic. >> there's an editorial in today's post about the gerrymandering issue. what can you do to sort of balance that environment so the win virginia have good competitive elections to find the best people? >> that's a great question. i have already said i would veto this particular bill. you have a number in the state senate who drafted a bill who took one republican precinct from a democratic senator and put one democrat on the democratic side. we are not playing this game but of course i would veto that. larry raised an interesting point that i talk about this a lot. i go back in the issues we have in what's going on up here goes back to i put everything back on partisan gerrymandering. what happens in elections today, the house of representatives and senate members of congress have no chance of losing a general election. it's a guaranteed success. in business you have competition every day. it keeps you movi

>> larry goldman. nice to see you again, sir. >> hello, larry, how are you? >> great. good virginian too. >> there was an editorial in today's "post" good the gerrymandering issue. what can you do so that we have in virginia good competitive elections to find the best people? >> great question. i've already said i'm going to veto this particular bill. we had a member of the state senate that draft -- drafted a bill that took one republican senator from one and put it on -- of course i was going to veto that. i'm not playing that game. but the issues we have and what's going on up here goes back to, i put everything back to partisan gerrymandering the what --. what happens in elections today sitting members of congress often have no chance of losing an election. in business, competition keeps you thinking, moving, working hard. . i'm all nor nonpartisan redistricting. we want to get lines as close as you can to 50-50. i think it's important. so what happens today is the only way you can lose an election is go -- to get a primary challenge within your own party. so it pu

. >> larry goldman. nice to see you again sir. >> hello, larry, how are you? >> great. as a good va vann zblsh good virginian too. >> everybody's a con situate. everybody's a good constituent. >> let me ask you how many live in virginia? fantastic. >> home court advantage. >> there was an editorial in today's post about the gerrymandering issue and what the senators do. what can you do to balance that environment so we in virginia have a good chance at competitive elections to find the best people? >> that's a great question. i've already said i'm going to veto this particular bill. you have a particular member of our state senate to draft the bill that took one republican precinct from a democratic senator and put one democrat and the democrats said we're not playing this game. but of course i would veto that. but larry raised a very interesting point. and i talk about this a lot. i go back. and the issues we have in what's going on up here goes back to -- i put everything back at partisan gerrymandering. what happens in elections today, let's take the house of represe

goldman sachs. ray dalio, founder and chief investment officer of bridgewater. ana botin, chairwoman of banco santander. larryummers, former u.s. treasury secretary. thank you for joining us in this great bloomberg panel debate. the world needs more easing. how difficult is it going to be for the fed to late -- raise rates? >> the fed is probably going to raise rates this year. our expectations of the imf is that it is more likely to happen midyear than the end of 2015 contrary to what is expected. the fact that the fed is going to do that is good news in and of itself. it shows that two things are moving in the right direction. employment is up, unemployment down. and inflation is hopefully giving little signs of moving up in the right direction. with these two indicators, which have been extremely well communicated and identified by janet yellen, who has done a terrific job in communicating and giving the right anticipations to market operators, i think that it is good news in and of itself. the consequences will be a different story. clearly there will be side effects, spillover effects, and volatility as

goldman sachs. ray dalio, founder and chief investment officer of bridgewater. ana botin, chairwoman of banco santander. larryummers, former u.s. treasury secretary. thank you for joining us in this great bloomberg panel debate. the world needs more easing. christine lagarde, let me start with you. the world needs more easing. how difficult is it going to be for the fed to raise rates? >> the fed is probably going to raise rates this year. our expectations of the imf is that to happen in midyear than the end of 2015, contrary to what is expected. the fact that the fed is going to do that is good news in and of itself. it shows that two things are moving in the right direction. employment is up, unemployment down. and inflation is hopefully giving little signs of moving up in the right direction. with these two indicators, which have been extremely well communicated and identified by janet yellen, who has done a terrific job in communicating and giving the right anticipations to market operators, i think that it is good news in and of itself. the consequences will be a different story. clearly there will be si

. >> that was former goldman sachs chairman jim o'neill on "squawk box" yesterday. i want to see what larryso thought that the dollar you know basically i think this guy yesterday was saying these trends that you think are going to last forever just don't count. like the dollar will always be strong will always be doing better than europe. oil will always be coming down. that you have to look at it and wonder how long it lasts. >> you know i think we're going to see the fourth quarter gdb compressed in the next hour. closer to 2%. i think the first quarter something like 2.5% even that's the max. and so there's some troublesome signs as well. you've got a very i think, a struggling real estate market. you've got soft retail sales. you've got the strong dollar which hurts us in terms of exports. i think we've got a low growth product over the next six months at least. and i think the idea of the fed increasing rates in the first a of the year i think that's out the window. i think maybe september, maybe at the end of the year. but i don't think we're going to see an economy that justifies a