michael barr will be stepping down as fed vice chair for supervision, a key move. want to bring in michael mckee. that could be a distraction. a new administration means a new change in leadership at the fed? michael: the incoming trump administration will be less so. michael barr is stepping down february 28 and serve until his successor comes. caroline: prime minister justin trudeau speaking in ottawa. let's listen in. prime minister trudeau: to strengthen the middle class, to advance reconciliation, to defend free trade on this continent, to stand strong with ukraine and our democracy, and to fight climate change and get our economy ready for the future. we are at a critical moment in the world. [speaking french] [speaking french] my friends, as you all know, i'm fighter. every bone in my body has always told me to fight because i care deeply about canadians. i care deeply about this country. and i will always be motivated by what is in the best interest of canadians. and the fact is, despite best efforts to work through it, parliament has been paralyzed for mon

we had news from the fed that michael barr is stepping down for vice chair of supervision. that's bank stocks rally. michael barr is known as being tough on capital rules and his resignation maybe opens the door for looser regulations going forward and bank stocks did cheer that. we get some more news out of the u.s. this time on the jobs market. we get the jobs data and ism services. keep an eye on how many job openings per unemployed person, that ratio the fed keeps their ion. lastly, this rise in yields. it is not just in the u.s. but the move has gone global. we have seen rises in the u.k. long end and overnight jgb 30 years also hit a new high they had not seen for 25 years. >> the u.k. 30 year settled at 517, levels we have not seen since 2023. valerie, thank you very much indeed. let's get to one of the big cory -- the big corporate stories. they have announced a raft of new software and services. he presented the lineup during the ces show in las vegas. >> we used g4s to enable artificial intelligence and now it is revolutionizing geforce. today we are announcing ou

and walk us through what michael barr is doing. he's not resigning from the federal reserve overall. mike: no. he's resigning from a vice chair for supervision position that is relatively new. so, there is something of a president here -- precedent here, and his issue is does he want to stay on to fight with donald trump about what regulations should be. they were going to re-propose proposals in the first quarter, but that now appears to be kind of dead because the trump administration wouldn't want it anyway. he is not resigning as a governor of the federal reserve, meaning there is an opening and donald trump can only elevate someone who is on the board. he can't put in a new vice chair for supervision as governor, because it isn't an opening until january of 2026. scarlet: i see. as he won a month the vice chair for supervision? is this a role he's looking to fill? mike: that's an interesting question. in wake of his decision to resign on february 28, they said they would not move forward on any major regulatory proposals until

annmarie: michael barr stepping down, you welcomed that.rnal talked about maybe a replacement for michael bar is governor bowman. would you welcome that? rep. hill: mickey bowman has done an outstanding job as a governor on the federal reserve. she comes to the federal reserve with practical experience both as a bank commissioner and a family connected to community banking business in the heartland. she's been a great voice for common sense and tailoring regulation. i think she will be a good one. jonathan: we are seeing big shifts in corporate america. we would love your thoughts on what we just heard from meta. it only broke about 15 minutes ago. this came from meta. starting in the united states, they will be ending their third-party fact checking program and moved to a community notes model. we are seeing some big shifts around corporate america. taking note of more conservative voices in the last few months, particularly after the election in november. that is notable for corporate america. i wonder how you are responding to things. wh

one thing i want to editorialize michael barr leaving as vice chair of supervision.s. a term that did not go along with the president, because they wanted that to be separate. so what i think ought to happen, is if this is such a political position, the president should have his right or her right to pick that person, then i think that should be separated from the federal reserve. so my sense is, barr ought to have stayed. whether or not he's the right person for the job, i don't know. but by him staying on, he doesn't give the trump administration the flexibility to pick the person they may want, mickey bowman could be a perfectly good replacement, but if it's such an important job, politically, that the president ought to have his pick, it probably ought to be out of the fed, joe. >> rick still with us. did any of that -- >> the president gets his pick for the chairman of the fed. >> where's rick? >> is that it? the numbers you're talking about, they're skewed from the tariffs coming in later? >> you know, i think the front running that steve talked about is real,

. >>> semafor is reporting that michelle bowman is looking to replace michael barr who is stepping downt month. barr has been a dissenting voice on the fmoc. frank. >> silvana, thank you. >>> coming up on "worldwide exchange," the bull market not letting up according to the next guest. thfuamta te ndenlshat will carry over well into 2025. stay with us. we'll be right back. what if your mobile network wasn't just built to work out here... ...but was designed differently to also give you blazing fast wifi where you are most of the time? reliable 5g, plus wifi speeds up to a gig where you need it most. xfinity mobile. xfinity internet customers, ask how to get a free 5g phone and a second unlimited line free for a year. >>> welcome back to "worldwide exchange." the market coming off a mixed session with the s&p 500 fueled by chip stocks. let's bring in tiffany mcghee. tiffany, good morning. good to see you. >> good morning, frank. happy new year. >> we're looking at futures moving higher. i want your word of the day. how do you see today shaping up? >> my word of the day is uncertainty. sa

mentioned she backed luther bank capital rules, important because she is touted to replace vice chair michael barr as the vice chair of supervision so she will be very much in charge of taking forward where those rules go and speaking of the regulatory musical chairs in washington, we have heard confirmation that the confirmation for treasury secretary will take place on january 16. it will be interesting to see what he thinks is driving this move higher in yields. friday is nonfarm payroll day and watch out for a blowout normal. interesting piece from anna wong saying high frequency data, especially when it comes to the home-based data showing there's a risk for a higher print. bloomberg economics is nearly 100,000 above consensus. what is more important for these markets, nonfarm payrolls or the gilt market? >> there's a risk the nonfarm payroll print could be overshadowed if we see another chaotic day. interesting to note that it was a day of calm after opening up on a hairy basis with yields spiking 11 basis points at the open but ended the session nearly unchanged. there is some interesting s

less leg ration is good for the bank -- less regulation is good for the banks and michael barr steppinghe regional and specifically office space and exes if i cannily class b or c office space and potential issues there and pnc office space makes up 2.4% of portfolio and insulated in regards to that risk. stuart: why do you like target? >> i might be the only one. everyone loves wal-mart and hates target. it's a well known kind of sentiment issue surrounding target and that'll change. so the consumer should become stronger with trump in office and disposable incomes should go up, discretionary spending should go up. for the last few years, 06% of target's revenue come from discretionary purchases and only 40% at wal-mart. we expect that to become an asset going forward and consumers are spending more, there's a opportunity for that company to catch up to wal-mart. stuart: 138 on target right now. is there a target price? >> could easily go to 175. stuart: this year? >> yep. stuart: 2025? >> yes, sir. stuart: not bad, thank you, mark. thousands of people evacuated their homes, several di

. >> who would you like to nominate to replace michael barr? >> i'll be announcing. >> the leader of the conservative party of canada said under no circumstances canada will be the 51st state. >> maybe he won't win. i don't care. >> are you considering military force to annex and acquire? >> economic force. because canada and the united states, that would really be something. you get rid of that artificially drawn line, and you take a look at what that looks like. and it would also be much better for national security. we basically protect canada. but here's the problem with canada. so many friends up there. i love the canadian people. we are spending hundreds of billions a year to protect it and take care of canada. we lose in trade deficits we are losing, we need their cars. they make 20% of our cars. we don't need their lumber. we have to unrestrict them because stupid people put restrictions on. i can do that with an executive order. why are we losing $200 billion a year or more to protect canada and i said that to as i called them, governo

financials are higher after the fed's vice chairman of supervision, michael barr, says he plans to stepown from his post on february 28th. barr's exit clears the way for president-elect trump to appoint all new bank regulators. u.s. lenders are hoping for an easier regulatory landscape under the new trump administration. and shares of parent of michael kors and coach brands, capri holdings, they're popping up more than 7%, the gains come as bmo upgraded shares to a market perform rating. they're citing negative and uninterested settlement. pay core is couraging about 24%. this is after bloomberg's reporting that the company is in advanced talks to be acquired by the larger competitor, pay chex. sources familiar with the matter say a deal may be announ early as this week. meanwhile, new warnings today on a contagion that could have major impact on food prices in the coming year. restaurant chain founder and ceo, cameron mitchell, he is here to tell us how worried he is about the bird flu's impact on poultry and eggs. and make sure to tune into the big money show, brian brenberg, jackie d

i have got one more question for you because federal reserve vice chair michael barr announced he's going trump takes office. what's the decision and do you think we're going to see any impact from it? >> he's the head for the banking super division announced he will step down at the end of february almost a year before his term was to finish in july. his said the risk of a dispute over the position could be a distraction from our mission. barr had been a target for republicans which called for stricter oversight of banks. there had been speculations president-elect donald trump would replace him after taking office. now, barr will stay on as a governor on the fed board until the end of his term in 2026. >> cnbc's charlotte reed, live from london, thank you. >>> and coming up we'll turn back to the news on capitol hill. congresswoman debbie dingell of michigan will join us to discuss yesterday's certification. all that when "way too early" comes right back. rtification. all that when "way too early" comes right back the 4 signs of early gum disease a toothpaste from parodontax, the gum ex

we know michael barr is stepping down february 28. what you anticipate that role will do going forward? there is concern there will be changes to the capital buffer roles, bringing down the 19% to as low as 9%. i say concern but from other quarters that would be good news. thomas: the banking industry would be very happy to see that and allow them to continue to lever up. the return on equity would be great and there would be a lot of support for that. as far as financial safety and stability, in an inflationary environment we know the banks have good trading revenues and so forth but they have quite a bit of loan increases that are nonperforming, especially in commercial real estate. from the safe and sound point of view you want capital ratios to remain strong, especially as you see deterioration in the long portfolios. that will be the debate. whoever takes that job in whatever agency, how much can you trade off your confidence in the safety of the industry and the soundness of the industry even though they are showing good earning

. >>> the big banks getting a boost as michael barr announced he'll resign from his post next month. the news coming amid speculation that president-elect donald trump would seek to replace barr. investors betting this could pave the way for some wheeling and dealing in the space. could mean maybe less strenuous capital reserve requirements, karen. a lighter regulatory touch, more friendly banking regulations. all the things that would theoretically be amazing for stocks, like a citi, which had a new high today. >> all of the things would be amazing. i think this is not new. this particular bar is new, but the idea it would be a more friendly regulatory environment. and the asset wealth businesses, doing well in the market, still high, so, there's a lot to like here. there's a lot to still like. to me, the story changed only a tiny bit today. it was already pretty good. >> yeah. >> well, i think it's important the stocks live up to the news, because the news from the election to this news has been bullish, the stocks have to justify that. they largely have. they've been a very import

michael barr was pretty tough on that.e did back off of some of his most extreme positions when it came to the capital buffers that were out there. and following really where the board was. i think it's really interesting that he's going to keep his position there. it requires the trump administration to pick from among the existing board members. i wouldn't be surprised by the way if congress takes up that law again and gives the flexibility to the administration to pick its own person. i don't know if they'll have the votes for that. but yeah, relief for the banks. we'll see how far it goes. i do think there is relatively good bipartisanship agreement on the issue of being relatively strong on the banks. not as strong as we've been. >> so, mike, are you in the boat that thinks a lot -- i would qualify that as a deregulatory development. you know, dave was on the other day and says he thinks that's a big reason why we might see growth this year and effect is harder to quantify. do you think it will be an impact all these

. >> who would you like to nominate to replace michael barr as vice chair -- [indiscernible] >> president-elect trump: i'll be announcing someone soon. >> working on the assumption of being serious making canada the 51st state, and the leader of the conservative party of canada said under no circumstances -- >> president-elect trump: maybe he won't win, but i don't care. i don't care what he says. >> -- considering military force to acquire panama and greenland. are you considering military force to annex to acquire canada? >> no. economic force. canada and the united states would be really something. you get rid of the artificially drawn line and you take a look at what it looks like and it would also be much better for national security. don't forget, we basically protect canada. but here is the problem with canada. so many friends up there. i love the canadian people. they're great. but we're spending hundreds of billions a year to protect it. we're spending hundreds of billions a year to take care of canada. we lose in trade deficits, we're losing -- we don't need their cars. you know, they

who would you like to nominate to replace michael barr as the vice chair of the federal? i'll be announcing somebody soon. mr.. thank you. >> mr. president. if we were to work under the assumption that you're serious about making canada a 51st state of the united states, the leader of the conservative party in canada said under no circumstances would ever be the 51st. >> maybe he won't win, but maybe he will. i don't i don't care, you had suggested. listen, i don't care what he says, but you said you were considering military force to acquire panama and greenland. >> are you also considering military force to annex and acquire no economic force? >> because canada and the united states, that would really be something you get rid of that artificially drawn line, and you take a look at what that looks like. and it would also be much better for national security. you don't forget we basically protect canada. but here's the problem with canada. so many friends up there, uh, i love the canadian people. they're great, but we're spending hundreds of billions a year to protect it.

. >> what do you think of the michael barr situation? is someone taking one for the fed. i think he stepped down to protect the fed to again help navigate this political landscape. >> because you think if he hadn't, he might be challenged, therefore the entire independence of the fed gets challenged. >> correct. correct. >> all right, it's a lot to think about. mohamed, it's great to see you here on set. >> thanks for having me. >>> coming up, facebook's former chief privacy officer joins us on the move to get rid of fact checkers. stay tuned, you're watching "squawk box" and this is cnbc. >>> welcome back to "squawk box." meta platforms announcing it's going to end third party fact checking, and moving to user generated systems, similar to the notes community program on x. some meta employees took to the in house employees and expressed their criticism. one worker said it appeared meta was sending a message that facts no longer matter and conflating that with a victory for free speech. joining us right now, chris kelly, facebook's forme

the last of michael van gerwen�*s three world titles came back in 2019 and darts journalist phill barrs. he came into this tournament with a lot of— he came into this tournament with a lot of question marks. there have been _ lot of question marks. there have been a _ lot of question marks. there have been a lot— lot of question marks. there have been a lot of subpar performances on tv from _ been a lot of subpar performances on tv from the _ been a lot of subpar performances on tv from the three—time world champion— tv from the three—time world champion and the way he responded to those questions last night, there are a _ those questions last night, there are a lot — those questions last night, there are a lot of— those questions last night, there are a lot of people saying, i'm not sure _ are a lot of people saying, i'm not sure michael van gerwen still had that game — sure michael van gerwen still had that game and the lock up in that point _ that game and the lock up in that point in _ that game and the lock up in that point in his— that game and the lock up in that point in his car

barrs, darts journalist gave us their analysis. i really enjoyed it. the boy played really well. michaelnt, so you have time to go out on the shot, you are going to beat him, and that is what luke did. some use to finish double top, double ten. that double ten, it looked like he had a magnet in it. he didn't miss it all through the tournament. but he has a gift, a marvellous gift to play darts. for a young guy to do it is good for the game, really, because there are loads of youngsters out there want to be luke littler. he's a generational talent. um, obviously we've been around for a long time, and we saw this 13 or 14—year—old kid coming through the junior ranks, posting huge averages, and we knew he was special. but i don't think we quite understood how special until this time last year. and then his first year on tour, he hasjust gone on to produce stuff that i say only generational greats can. stargazers around the globe were treated to a stunning celestial scene on friday as venus appeared shining brightly above a crescent moon. the planet was visible to the naked eye from the uk t