take a look at mpc data.ectations of a rate hike pushed away out until late 2018 from mid-2018 back in march. guy: i spent my morning trying to deal with the data. it is a complicated process. you can kind of figure out a rough guide on that on your bloomberg. london school of economics professor still joining us. we are also joined by the former bank of england mpc member. i can't use the bloomberg terminal on my airplane flight. it is going to be 72 hours. tom is going to be missing it. good morning, andrew. 8-1, 7-2? >> i would not be surprised if it is 8-0. i don't think charlotte is going to be voting. let's pass on that. i think kristin forbes may withdraw her vote if the economy softens. we may see michael saunders not coming forward, as he has indicated. the mpc has been incredibly timid. they have missed many opportunities which they could have taken to raise interest rates. they should have been looking across the atlantic to the fed, taking a bit of a lead from the fed. we cut interest rates. i was

the mpc judges that the factors currently waiting on wage growth are unlikely to persist.roject that wages will rise significantly through the forecast and closes by the end. inflation is projected to rise. cannot prevent either the necessary real adjustments as the u.k. moves towards its new international trading arrangements, or the weaker -- or the weaker real to ae that is likely company the adjustment over the next few years. attempting to offset fully the effects of sterling would be achievable only at the cost of higher unemployment and in all likelihood, you even weaker real income growth. for this reason, the mpc's agreement specifies that in such specific circumstances, the committee must bounce any trade off towards the speed with which it intends to return inflation to target and support the to jobs andicy activity. at the may meeting, the mpc decided that the current stance of monetary policy remained appropriate to balance the determinations of the agreement. that isal overshot of entirely due to sterling depreciation which reflects fundamental factors that m

at its may meeting, the mpc decided its current sta nce meeting, the mpc decided its current stance ondamental factors that monitor it is a cannot effect. in such exceptional circumstances, the mpc‘s remer requires it to pay close consideration. for most of the forecast period, the economy is expected to operate with a degree of spare capacity, justifying some degree of above target inflation could be tolerated. however, the output gap is projected to close by the end of the forecast, reducing the end of the forecast, reducing the committee's torrents per above target inflation at that point. the mpc‘s portas relies on, among other things, a significant pick—up in wage growth, no further slowing in aggregate demand, a lower level of sterling continuing to boost consumer prices broadly as projected, and without average consequences for inflation expectations further ahead, and that the adjustment to the uk's new trading relationship with the eu be smooth. as these conditions may clear, while brexit will play an important role, other factors will also influence the outlook for economy an

a few examples of the mpcs owned by howard hughes. the woodlands, anyone who has been to texas, is considered one of the most desirable places to live in houston, it's twice the size of manhattan. we own the vacant land and the timing of supply. 115,000 residents ranked as the best place to live in texas, the sixth best place to live in the country. exxon mobil moved their campus close to the woot lands and, in fact, we did a build to suit for exxon in the property. perfect example we saw this nice piece of vacant land. what should we do there? we came up with an idea. fast forward 2 1/2 years we built space, lease d it and are generating $15 million of net operating income from the property. having to buy land or buy buildings we have an enormous amount of opportunities. more than 50 million square feet of unbuilt vertical opportunities inside this company. this is a sense of the scale of this community. again, about 1.5 times the size of manhattan h. is las vegas. it's nine miles from the strip. it's 25 years old. the most attractiv

the dangers, our models, the fed, the mpc and others are looking at what happens in the cities and areorgan has put out a risk on scenario that could be brewing. the fed begins to normalize and continues to normalize, almost on autopilot. do you consider that a risk at this point? policy mistake is certainly a risk. i don't think that is the major risk. it is a risk, not the major risk. more generally, i want to go back to something danny set which is important, he used the word disconnect, and he is right. there is a disconnect between soft data and hard data. or is a disconnect between the equity market and the bond market. i think what is more striking is markets are incredibly sanguine about all of these disconnects. the biggest risk is we will find out that this disconnect is a signal him and not a noise. that is the biggest risk to the markets right now. let's explore that, where is the real signal coming from, the bond market or the equity market? data a soft data or hard outside of the jobs report? somewhere think it is in the middle. a soft data in equity market has embraced p

effectthat will have an in terms of how the mpc votes.efore the she wanted to make the point that it's good to have a debate. -- you see >> that cyrus interview. it's more restricted in usable -- than usual. i think we are at a tipping point. we had some strong tailwinds in the second half of last year. now we think it's become a more mixed picture. at the moment, inflation is rising above target. growth is holding up ok and there still an expectation that growth this year will be 2%. if that happens, rate hikes are more likely than not. therefore the debate is going in that direction. i think it's still early at the moment. anna: the polls suggest theresa may will be victorious in the election. that's what the polls suggest. everyone will be interested in what they plan to spend money on , how much stimulus they want to put into the economy. what do you see in terms of tax and spend plans? without the manifestoes, it's hard to know exactly what the plans are going to be. at this point, a fiscally mutual continuation is most likely. if th

placement center have been placed in the appropriate placement center and are no longer being held at the mpc, the that gal lous placement center. 16 identified juvenile gang members were transferred to placement centers around the country including shan nan doe valley in virginia, staff secure in washington, nova staff secure in virginia, the swk maca staff secure in texas, children's village new york, and army training center in oklahoma. now the office of refugee reset will meant, orr within the department of health and human services was responsible at that point for the care and custody of the children apprehended. why do you point that out? we've got a broken system. it was in 2002 in the operation of homeland security we split split out the responsibility where now cpb apprehends, process, then turns unaccompanied children over to hhs. and we've gotten very good at apprehend, processing and dispersing. which for my standpoint has just fueled this rise in unaccompanied children coming to the boarder. certainly during the last administration, just so i understand what we're talking about

was in the chairman in beijing and we had meetings with the chairman in china, the chairman of the mpc. number three in charge of all of china. followed by a meeting with the premier. veryr. chairman, you were direct in asking for the help from the chinese government at the very highest levels to deal with this issue at the source of fentanyl and carfentanil. thank you. i saw that behind closed doors and thank you for your leadership that extends and influences beyond this country, but around the world, to stop this scourge. thank you for testifying today before our committee. homeecent years in my om state of montana we have been facing a meth epidemic. i realize this is something that started with the opioids and has worked northeast across the country. it is in by sky country. largely, the import of meth is coming from mexico. it is showing the somber signs of the drug's widespread presence. the montanaof 2016, department of justice issued a report that there were 14 children that died in our foster 11 of those 14 children died as a result of household drug use. and four of those we