joining us is michelle meyer from bank merrill lynch.ks pricing in definitively a hike in december? >> i think that is right. the fed has made it clear they inten to fd to further normaliz rates. i think the markets should price in a december hike. what happens between now and then in terms of the economic data and will it hold up so they can continue on their olympian? >> i think it will. they don't need to see particularly robust data. they need to see more of the same, which means something consistent with low 0.2 growth. wage inflation picking up. overall inflation picking up. the next jobs report has to be consistent. they can't see a deterioration in the data that would stop them from hiking. >> in terms of earnings season, they have not seen a determination. >> that's right. they are getting confirmation across the board. asset prices are holding up, antidotal earnings look strong. they have the ability to hike in december. >> what do you expect from the first look at the third quarter gdp today in. >> 2.5% growth. after the trade

we want you to stick with us if you would, and also bring michelle meyer into this conversation headbank of america merrill lynch. good to see you. >> good to see you. >> it is worth noting that the stock market is now hitting new session highs in the wake of good data and yields jumping. is that a sign that this market is going to be okay if the fed raises interest rates because the economy warrants that? >> the fed has told us it's all data dependent and i think that's how the market should be interpreting it as well. if the data continues to improve, if we get a decent jobs number on friday, the relief in the ism surveys i think helped a lot. and if you don't see some sort of move in financial conditions, that's quite adverse, then i think the fed clearly is setting up for a december hike. they said that in the statement and they're saying it again in many different speeches. >> is this just a bounceback from what was a pretty weak august? or something else going on? >> i think the august data was maybe a little bit of a head fake it seems because september data is coming in a lit

michelle meyer of bank of america merrill lynch has been arguing for a hike in december.or your time today. let me start by asking you, why not november? if we get a big number tomorrow, is it because this meeting comes only six days ahead of the u.s. elections? the fed will tell you, and yellen made it clear in the press conference, they are apolitical, not taking into account the political environment, but they are taking into account potential headwinds, uncertainties. i would argue the presidential ,lection is a high uncertainty not entirely clear as to how the financial markets will react depending on the outcome. from the fed's perspective, they will be risk-averse. we are setting the stage for a hike, let's wait to get past the election, and just pull the trigger in december. what else may keep them from raising rates in december? michelle: the data always matters. they say they're prepared for a rate hike in the -- december, but the data needs to agree with that. we need to see jobs reports that continue to show improvement, 200,000 in000 and the next few reports.

michelle obama, one of us went high and one went low. >> can they stem the tide of a down ballot disaster and seth meyers in the rise of the trump campaign. >> sincere apologies. >> this is mtp daily and it starts right now. >>> good evening. in washington tonight and for my friend chuck todd, fasten your seatbelts after last night's ugly showdown, there may be no turning back. for 29 days, the road to the white house looks like it will dive deep into the gutter. trump threatening more dirt on his running mate cheering last night's spectacle. >> bill clinton sexually assaulted innocent women and hillary clinton attacked those women viciously. if they want to release more tapes saying inappropriate things, we will continue to talk about bill and hillary doing inappropriate things. there are so many of them. >> last night my running mate showed the american people what's in his heart. he showed humility to the american people. and then he fought back and turned the focus to the choice that we face and i'm proud to stand with donald trump. >> donald trump and mike pence playing to their base. if you want to understand why, they have been he

meyers. this is "late night." how isverybody doing tonight? [ cheers and applause ] so lovely to hear. hat case, let's get to the ne. firslady michelle obama campaigned with hillary clinton today. hillar are you sure that's a good idea? that's like simon trying to get garfunkle elected because when think, "i can't wait to vote for hillary." when you stand next to michelle, they think, "you're blocking our view of michelle." [ laughter and applause ] that's right. [ applause ] michelle obama joined hillary clinton on the campaign trail today. said michelle, "fine, i'll go, but i'm not wearing the necklace." [ laughter and applause ] russian esident vladimir putin praised donald trump today and job of energizing american voters tired of the elites. what's more amazing is he said at a trump rally. [ laughtere ] and appla putin dismissed the notion that ruia aempting to influencing our election, , qu sayie, "is america some so of banana repubc?" no, i'd say we're mo le a axx t black friday. [ lahter appla] i'd say that's wre we're at donald trump campaigned in north carolina yesterday where he laid out his new deal for black america. whe

meyers. this is "late night." how isverybody doing tonight? [ cheers and applause ] so lovely to hear. hat case, let's get to the ne. firslady michelle obama campaigned with hillary clinton today. hillar are you sure that's a good idea? that's like simon trying to get garfunkle elected because when

meyers. this is "late night." how is everybody doing tonight? [ cheers and applause ] so lovely to hear. in that case, let's get to the news. first lady michelle obama campaigned with hillary clinton today.

meyers. this is "late night." how is everybody doing tonight? [ cheers and applause ] so lovely to hear. in that case, let's get to the news. first lady michelle obama campaigned with hillary clinton today. hillary, are you sure that's a good idea? that's like simon trying to get garfunkle elected because when hillary." when you stand next to michelle, they think, "you're blocking our view of michelle." [ laughter and applause ] that's right. [ applause ] michelle obama joined hillary clinton on the campaign trail today. said michelle, "fine, i'll go, but i'm not wearing the necklace." [ laughter and applause ] russian president vladimir putin praised donald trump today and said that trump has done a good job of energizing american voters tired of the elites. what's more amazing is he said it at a trump rally. [ laughter and applause ] putin dismissed the notion that russia's attempting to influencing our election, saying, quote, "is america some sort of banana republic?" no, i'd say we're more like a t.j. maxx the day after black friday. [ laughter and applause ] i'd say that's where we're at

meyers. this is "late night." how is everybody doing tonight? [ cheers and applause ] so lovely to hear. in that case, let's get to the news. first lady michelle obama campaigned with hillary clinton today. hillary, are you sure that's a good idea? that's like simon trying to get garfunkle elected because when you stand next to trump, people hillary." when you stand next to michelle, they think, "you're blocking our view of michelle." [ laughter and applause ] that's right. [ applause ] michelle obama joined hillary clinton on the campaign trail today. said michelle, "fine, i'll go, but i'm not wearing the necklace." [ laughter and applause ] russian president vladimir putin praised donald trump today and said that trump has done a good voters tired of the elites. what's more amazing is he said it at a trump rally. [ laughter and applause ] putin dismissed the notion that russia's attempting to influencing our election, saying, quote, "is america some sort of banana republic?" no, i'd say we're more like a t.j. maxx the day after black friday. [ laughter and applause ] i'd say that's where we're at right now. he laid out his new deal for black

michelle obama in new hampshire rallying hillary clinton supporters. donald trump in florida, his first appearance since the wave of accusations over the last 24 hours. >>> plus, joe biden weighing in on seth meyers late night last night. >> here's a guy who says, i'm a star. talk about power. i'm a billionaire. i'm a star. i'm a celebrity. so, i can go in and intimidate women and allowing me to assault them and assume they're not going to say anything. that is the ultimate abuse of power. and i -- i don't think -- and i don't understand how anyone can remotely justify that. now, i can understand -- i can't understand it. i'm my team's #1 fan. yay. sports. i've never been #1 in anything until i put these babies on. now we're on a winning streak and i'm never taking them off. do i know where i'm going? absolutely. we're going to the playoff. allstate guarantees your rates won't go up just because of an accident. starting the day you sign up. so get accident forgiveness from allstate. and be better protected from mayhem, like me. hey lmaybe let's play upl our the digital part.r job, but it's a manufacturing job. yeah, well ge is doing a lot of cool things digitally to help machines communicate, mig

meyers calling trump's remarks on the "access hollywood" tape -- >> absolutely outrageous behavior. >> today a lot of white house firepower with clinton, the president, vice president and first lady all campaigning for her. michelle obama will be in new hampshire where she is expected to raise the issue of trump's behavior toward women. trump will rally in two crucial for him, florida and ohio. >>> wells fargo's ceo, with john stump, recently -- or suddenly resigned on wednesday amid mounting criticism from the public and members of congress. wells fargo's been under fire since last month when it admitted it created as many as 2 million phony bank and credit card accounts without customer permission. no criminal charges have been filed but wells fargo has agreed with the federal government. chief operating officer tim sloan will become the new ceo. >>> coming up next, is it just a fancy new way to cheat? wait until you see how this app will do your kids' math for them. >>> then, al's first steps on his new knee as he recovers from surgery. >>> and, barry gibb taking over ... ? ? ? ? ? ? ? ? great rates for great rides. [ cough ] shh. i have a cold with this annoying runny nose. better take something. dayquil liqu