mr. powell: i don't. i'm not going to change my practice here today of not responding to addressing comments made by elected officials. i will just say i continue to believe that the independence of the federal reserve has served the public real over time and my colleagues will conduct monetary policy without regard to political considerations. we will base it on facts and objective analysis in pursuing our goals and that's all i have o say on it. reports reporter: falling yields up until the beginning of this month and the liquidity crunch that we saw. doe the fed have concerns over the impact of u.s. debt in is that a conversation you have with secretary treasury mnuchin to address the challenges down the road with that type of heavy interest globally? >> that is treasury's job and congress' job. how much to spend and how to finance it and none of that calls for advice from the fed. we take fiscal policy to our work. that doesn't stop from saying that we think it's important that the u.s. fiscal picture

and back to mr powell is prognosis on the u.s. economy he may not see a recession in the near future but as you alluded to many people do and apparently that includes a majority of 225 corporate c.f.o. 53 percent of them polled by duke university said they expect a recession in the u.s. within a year 67 percent see it starting before the end of 2020 so in sioux. enough to interfere with the election is mr powell in danger of developing a crisis of personal credibility and systemic business confidence based on his prognostication on the economy and also his reasoning for why the fed is doing what it's doing when it seems to be clearly not credible. yeah i do want to save and though i find myself ironic about this mr powell is under extraordinary pressure he knows that there's a recession coming he knows on some level that he has to deal with it on the other hand he doesn't want to be seen as the patsy doing what mr trump is doing helping him to get reelected since he like mr dudley who said it publicly knows that mr trump is a big

today for doing it only a quarter of bowling the reason mr powell. paul said recently that we're not facing a recession is that's as much as he's willing to do for mr trump to join mr trump in saying something that is patently untrue namely that we have no recession to fear we do not only is it the normal pattern of our economy the type we have been has been for 200 years but we have the added problem economic war with china and drone attack in saudi arabia that revs up the risk of war between the united states and the iran the collapse of the negotiations between britain and europe around the brags that question and a decline in economic growth in both china and europe those are more than enough complicating factors to make any reasonable economist very worried about recession mr powell statements are to mollify a president squeezing forward much greater costs than mr powell is ready to do and so we sit there with this contradiction as you rightly describe it seems like he mr powell is performing for an audience of one and that one audience member i

mr. powell. i would like to ask a follow-up about the libra project and the fed's working group tracking the project. when you mentioned the burden of proof that falls on the project, can you speak at all how the association has been meeting this burden of proof? what further input you have received in the past months? and how should it fall within the regulatory scheme? to yourlly, speaking coordination efforts with other central banks, is this something that you and mr. jordan have been discussing on this visit? chairman powell: on her libra, not a lot i can add. we have a working group among the financial agencies in washington. i assume there are lots of things going on around the edges where we are discussing, but honestly, i would not speculate on that. in terms of coordination, i would just echo, we come to bank tot is central central bank, it is not about the political issues. sometimes it's about monetary policy. in basel toair question each other's approach to monetary policy, so it is

mr. powell.elcome to switzerland. i would like to know what you think, because the market is widely expecting to have accommodation. do you feel like meeting that accommodation will be enough to support the economy, or do you feel like you might need to do more to provide that accommodation? >> i'm just going to go back to what i said earlier which is we're watching all of these developments, the geopolitical risks, we mentioned brexit, there are others, the events in hong kong, watching those carefully, watching incoming data and really looking at financial conditions broadly, and we're going to be assessing those as we go into our next meeting and future meetings, and what we have said is that we're going to act as appropriate to sustain the expansion. i don't have anything other than that to say here tonight. >> wait for the microphone. >> mr. powell, you spoke about the diversity of views on the fomc and we have seen in the past couple of weeks exactly what that diversity of views means. we h

insistence on a stricter implementation of the european union step rules will be in high esteem and mr powell gentil only when he was prime minister of italy for around about 18 months up until june 28th he and his government were permanently at odds with brussels about the amount of debt that italy was allowed to make one phrase he used at the time is europe must be about more than about austerity but you know the european union's commission is in charge of keeping the union together and the experience with the previous government in rome has shown that a collision course is not very helpful it only hardens the fronts it makes nationalist governments like the one of mr bean the only think about you know ideas like leaving the currency union maybe even leaving the european union us left on the line the new chief of the commission really wants to change that she seems to want to invite the national governments to work with her on europe on the european union such as alone as you said part of that call for a bit of a looser outlook towards austerity measures from germany be inching see how he f

australia a little bit excited about the us rate cut, despite comments from president trump that mr powellts in basically making more aggressive rate cuts, the nikkei up by o.9%, aggressive rate cuts, the nikkei up by 0.9%, the all —— all 0rdinaries 0.6%. thank you for investing your time with us. this is bbc news. the top stories this hour: as indonesia battles forest fires in borneo and sumatra, pollution is reaching critical levels across much of the region. the government has told the bbc that it may not apply european union standards for home appliances after brexit. if that happens, it will affect our energy use helping the uk to meet its climate change targets. here is our environment analyst roger harrabin. welcome to derbyshire's vacuum cleaner museum. some machines here use lots of energy. 0thers use very little. recent eu standards on efficiency banned the energy guzzlers. this model, for instance, uses a whopping 1,800 watts of electricity. but how hard does it suck? put your arm there, and lift it on and off and you can feel the suction. can you feel the suction? quite strong,

mr. powell. someone you may recall the president himself appointed. ret ill phrases bloom, the president failed to peg powell with one of his latest nicknames. not lazy, not crazy, not cryin' even. when it comes to jerome powell, this was the best the president could do, quote, where did i find this guy, jerome? oh, well, you can't win them all. now i assume that's intended to be a biting insult, but twitter doesn't actually have a voice. so just typing the name jerome doesn't work. i mean, that is his name. where did i find this guy jerome? oh, well, you can't win them all. that has no bully bravado. no slide, slither and snarkiness. for this tweet to work the president is relying on you, the american people, to get in touch with your inner bully. you can do it. jerome. maybe that's too campy. jerome. maybe that's more like it. that's more presidential, i think. jerome. it's like jerome was comped a shrimp dock tell at the trump taj mahal in 1990 and never said thank you and mr. trump has never forgotten. the reason, though, one can assume that presid

mr. powell's lifecycle is pressured.ressured by the narrative from the white house, the debate about currency becomes more extreme. discussions, ime don't think that's a story that has legs at this particular juncture. it's an environment where others are continuing to focus on monetary easing. the dollar index is going to continue to rise if the market perceives the other central banks will be more aggressive than the fed. it's going to be evident as we go into the fourth quarter. are we going to see some slowdown? will there be a pick up in inflationary pressure. that might be a catalyst that stems that. jerome powell be speaking on friday. will the president use that as an opportunity to highlight. >> that might be noted in the white house. the white house is not actively calling for negative rates. we know the pressure on jerome powell to act aggressively is very much in the forefront of the president's thinking. it's going to be evident, the parallels of the policy of the s&p in the federal reserve in terms of the r

mr. powell: we will continue to watch all of the geopolitical things that are happening and we will continue to act as appropriate to sustained this. >> jay powell was extraordinarily disciplined. it he made the point the u.s. economy is in a good place, continues to perform well and he is used this line several times. it kailey: still ahead as we review the week on bloomberg best, a fund sticking with you can investments no matter what happens with brexit. the e.u. trade commissioner said the forecast is cloudy for a deal with britain when it finally leaves the bloc and more on the top headlines. angela merkel's coalition staves off a populist challenge. >> it means there was unrest which will quiet down for some time. kailey: this is bloomberg. ♪ kailey: this is bloomberg best. i am kailey leinz. let's continue our global tour, where the government in china responded to economic headwinds with moves to stimulus. paul: the council of china is signaling a reduction in the amount of funds a bank of reserve must hold is on the way, a move aimed at releasing cash into the slowing economy. what

mr. powell is also giving a speech later today in zurich of all places and he's interesting because initially when they came up with that first cut the language that caught the market off guard was the mid cycle adjustment language are you expecting him to change the narrative given the sheer amount of things that have happened over the last month including the tariffs as well. >> the tariffs and the trade war being escalated and there's signs of the weakening economy with the manufacturing services contracting. so you're right. that's what people are looking for. unfortunately, i think fed chairman powell is dealing with a split committee. you have individuals that are more concerned about the outlook wanting to take more aggressive action on the other hand, you have a number of people that indicated that they really would want to wait until you see tangible signs that uncertainty is impacting negative economy and as the fed chair tries to navigate and bring the committee to consensus, to me the language is probably going to stay pretty similar. still characterizing this more as a mid cycle

mr. powell today >> i think he's going to look at the number the way everybody at the table looked at the number there's some good stuff and bad stuff, right rising wages larry was right. i checked the numbers, 4.2% annualized on wage rates, not too shabby and temporary help on the way up and household survey which is usually the refuge of politicians when they don't like what's in the establishment, that follows but the last several months, the household survey has been moving further you just want to watch that. there's strength in the household that's worth watching and not entirely a political gambit right there on the other side, payrolls, we missed, coming down. they are weaker. and a downward revisions and modest private sector. i'd say this keeps me along the line what it does raise questions about is how much i do it. i think what we've seen, some backing off of the outlook of rate cuts in october and september and the rest of the year -- >> let me ask you a question -- >> you got to be quicker around here, sully. >> this used to be called "fast money halftime report. now, i know

mr. powell and his colleagues at the fed need to stand up to mr. trump and do what's right for the economy if they don't, the only question that remains is when will it all blow up? when it does, that day will be soon, we will be staring down yet another financial panic. that doesn't feel hyperbolic >> not to me, scott. i've written two books about the 2008 financial crisis. one about the collapse of bear stearns, one about how goldman sachs avoided going down the tubes. this scenario happens over and over again and new investors just do not have the memory for this it's so distressing. we have financial crises in this country basically once every 20 years. it's always the same scenario. borrowing short, lending long in the banking system yes, the fed to some degree has pushed some of that risk out of the big banks into the shadow banking system, but the riskt t everywhere when the high yield bond index is yielding 5.5%, people are overpaying for the risk they're taking and the rewards they're getting. >> you seem to imply in the example i just rea

mr. powell is called by his nickname jay and our very stable genius knows this. >> i've nominated jay toederal chairman. jay, jay, jay, jay, jay, jay. now i would like to invite jay to say a few words. >> that was when he was jounsing him, so it's jay on the good days, jerome on the bad. i don't think that was a very good one. also let me state the obvious, there's nothing wrong with the name jerome. no matter how the president says it or tweets it, it's a fine, distinguished name. there's jerome robins, jerome david sallenger, even jerome seinfeld. you might have heard of him. this isn't the first time that the president has chose to use one of his favorite words. when speaker employepelosi cance state of the union, he cooked it up real good. >> we're supposed to be doing it and now nancy pelosi, or nancy, as i call her. >> oh, snap. burn. nancy, as i call her. haters going to hate, but beware, this president is a counter puncher and then he'll tear up your birth certificate. jerome is not showing his bothered by it which is what human adults should do. and as for president trump, well,

mr. powell. all this as ceo's from america's biggest company slamming the brakes on investments and warning that sales could slow down over the next six months. welcome, everybody i'm david asman this is bulls & bears thanks for joining us. joining me on the panel is scott martin, christina partsinevelos, and gary kaltbaum and the carol roth. >> [laughter] david: well the president tweet ing this response to the rate cut. "jay powell and the federal reserve fail again, no guts, no sense, no vision, a terrible communicator." that is an economic confidence index of the country's top ceo's sinks to its lowest level under president trump due in part to u.s. trade policy, and jpmorgan 's jamie dimon says he does not think cutting rates will offset trade worries though he also reiterated he does not see a recession near, but should investors be concerned about a slowdown? >> not to be cynical here, david, but i think that the business roundtable might have an alterior motive because they were very conc

mr. powell.t company slamming the brakes on investments and warning that sales could slow down over the next six months. welcome, everybody i'm david asman this is bulls & bears thanks for joining us. joining me on the panel is scott martin, christina partsinevelos, and gary kaltbaum and the car

mr. powell votes aye. escobar votes aye. mr. collins? collins votes no. obi votes no. and mr. gates votes no. mr. johnson, louisiana votes no. mr. bigs votes no. no.mcclintock votes votes no.ong no.stubbe votes from tennessee? aye.. collin votes reports. nos. ere are 22ayes and 16 it.the ayes have staff authorized to make conforming changes. now we have three more bills to markup.is two more gun bills. more bills? two less controversial bills and feel everyone doesn't necessary to speak so we can easonable hour.r up and hr1186 regulate large capacity ammunition devices. myself.i recognize troduced by our colleague, the gentleman from florida. large compassity magazines shootings.rible mass these --. these tragedies have been magnified in the destructiveness large of the use of ar to ty magazines simil those used seven years ago similar to the aurora theater shooter. last month, the shooter in round drum a 100 magazine to kill nine people and others in just 30 seconds. and days perfect that attack the people that killed four and injured 13 others at garlic a 75 al in gilroy use

he accused mr powell last night of lacking guts but nonetheless mr powell decided to cut interest rates the bank of england will decide what to do here but they have been unanimous in keeping rates on hold. a big question about why now, given that there have been adjusted because since 2008. the us is essentially on a recession watch. it is really worried, particularly around the us but around the world as well. manufacturing is struggling, partly because of residential's trade will with china. investment is slowing. —— warthe with china. investment is slowing. —— war the us economy has slowed down as have other economies around the world but the us economy is still growing, at least in the latest data by 2% on and analysed basis. it is not clear whether it is headed for recession but it is certainly slowing down from what has been the longest economic expansion in modern history so you have ups and downs, booms and busts and we are anything down part of the cycle and we are not sure if it is going to be such a slowdown that they could potentially be in recession. do the trickle down. w

mr. powell yesterday. will the oecd look forward, which is clearly for a global slowdown. for longer interest rate regime globally and for the fed. something jerome powell has been highlighting is that there has been a big shift by the fed in terms of expectations for rates. coming into this year, it was expecting to be rating rates by tsitsipas -- raising rates by tsitsipas basis points. now at -- by tsitsipas basis points -- 50 plus basis points. i do not think we are in a situation where we are going into a global deflationary downturn. that's what was being priced in august. that outlook is not quite as bad as that, although i think you are right to highlight that we are having to adjust to a world where china is becoming kind of growth and that will be a painful adjustment for europe and parts of emerging markets as well. francine: thank, both. coming up, we speak with oystein olsen, the norges bank governor. look for that interview at 5:30 a.m. in new york. this is bloomberg. ♪ ♪ francine: this is -- >> this is "bloomberg surveillance." let's get the bloomberg busine

mr. stanton votes no. ms. dean votes no. ms. mcursel-powell votes no. miss escobar votes no. mr. collins -- [indiscernible] >> motion to adjourn. mr. collins votes aye. mr. sensenbrenner. mr. chavis. mr. gomert. mr. jordan votes yes. mr. buck. mr. radcliffe. ms. robie. mr. gates. mr. johnson of louisiana votes yes. mr. biggs votes aye. mr. mcclintock votes aye. ms. lesko. mr. rpsenthaler. mr. armstrong votes yes. mr. steubie. mr. gates, you are not recorded. mr. gates votes aye. clerk: mr. chairman, there are eight ayes and 20 nos. >> point of parliamentary inquiry. chairman nadler: who has a point of parliamentary inquiry. the gentleman will state his point of for the mentor inquiry. >> thank you, mr. chairman. migrate relates to the rule we change last week where we mentioned staff conducting questioning it has been expanded to include consultants today. we contemplated the distinction between independent contractors such as a consultant. chairman nadler: sorry, disney quantum -- did we contemplate what? >> independent contractors, vis-a-vis, employees and staff being a part of

mr. powell should he want to cut a quarter of a point i think the numbers lately would play into his hande a look >> i am puzzling over this because math kinds of works more or less, depending if the politicians get ahold of it or not. if we are doing two on gdp,er mo or less just a little bit above the run rate and you accept the idea that the trade war has reduced that number by some amount, call it .3, call it .4, call it .5, it may mean that the run rate of the economy is actually stronger. that we have a stronger underlying economy that if we got rid of it -- you can't say we are doing two, tlus the trade war and not say that without that you would be doing better i think that's an important point. >> who says the run rate is two? why is that everybody's hypothesis. >> better. >> many quarters are doing better this quarter in particular is hovering there, last quarter, first quarter. i think we have a better economy than that. and that hypothesis is just like 2% inflation rate. it is very arbitrary. >> i don't think this one is arbitrary. maybe jason wants the take this but you ad pr

mr. stanton votes aye. miss dean votes aye. ms. powell votes aye. miss escobar votes aye. mr. collins votes no. mr. sensenbrenner. no.chavis votes mr. gohmert votes no. mr. jordan votes no. mr. buck votes no. miss robie votes no. mr. gates votes no. mr. johnson of louisiana votes no. no.biggs votes mr. mcclintock votes no. miss lesko votes no. votes no.thal both mr. armstrong votes no. votes no.e both chairman nadler: the clerk will report. clerk: mr. chairman, there are 23 ayes and 23 nos. chairman nadler: the amendment is reported favorably to the house. [applause] the bill will be reported as a single amendment in the nature of the institute. without objection, the state authorized to make the changes wednesday on the seas. >> and networks, live coverage --king the 50th anniversary the 17th anniversary of the september 11 terrorist attacks. there will be remarks from president trump, defense secretary mark esper and general joseph dunford. at 10:00 eastern, the house returns for work on oil and natural gas drilling legislation. on c-span2, the senate comes in at 9:30 a.m. for debate with speech

mr. stanton votes no. miss dean? no. >> miss powell votes no. miss escobar? >> no. >> mr. collins? >> aye. >> mr. collins votes eye. >> mr. sensenbrennor? mr. sensenbrenner votes aye. mr. jordan? mr. jordan votes yes. mr. buck? >> aye. >> mr. buck votes aye plchlt radcliff? mr. radcliff votes yes. miss roby? miss roby votes aye. mr. gates votes eye. mr. biggs? mr. biggs votes aye mr. mcclintock votes aye. miss lesko votes aye. mr. rushinthaler? mr. armstrong votes yes. mr. stube votes yes. mr. cohen, you are not recorded. mr. cohen votes no. mr. lew, you are not recorded. mr. lew votes no. >> any members who voted who wish to vote? the clerk will report. >> mr. chairman, there are 15 ayes and 20 nos. >> the amendment is not agreed to. are there any other amendments? >> mr. chairman? >> for what purpose -- >> i have an amendment at the desk. >> the clerk will report the amendmen amendment. >> amendment offer by mr. sensenbrenner, page six after -- >> sent the amendment be considered as read. >> the gentleman is recognized to explain his amendment. >> let's be plain about what this bill does. at it

mr. stanton votes aye. ms. steen? ms. steen votes aye. ms. powell votes aye. ms. escobar? ms. escobar votes aye. mr. collins? >> no. >> mr. collins votes no. mr. sensenbrenner? mr. sensenbrenner votes no. mr. gomert? mr. gomert votes no. mr. jordan? mr. jordan votes no. mr. buck? mr. buck votes no. mr. ratcliffe? mr. ratcliffe votes no. ms. roby. ms. roby votes no. mr. gates? mr. gates votes no. mr. johnson of louisiana? mr. johnson of louisiana votes no. mr. biggs? mr. biggs votes no. mr. mckleclintock? mr. mcclintock votes no. mr. armstrong? mr. armstrong votes no. >> gentlelady from california? >> ms. bass votes aye. >> gentlelady from washington? >> votes aye. >> are there any other members who wish to vote who haven't voted? the clerk will report. >> mr. chairman, there are 24 ayes and 17 nos. >> ayes have it. the resolution is agreed to. this concludes our business for today. thanks to all members for attending. without objection, the mark-up is adjourned. >>> if you missed any of the house judiciary committee meeting, you can see it tonight at 9:00 eastern on c-span. the house judiciary committee cons

mr. stanton votes no. ms. dean votes no. ms. mccarsle powell votes no. ms. es co bar votes no. mr. collins votes yes. mr. sensenbrenner votes aye. mr. chabot votes aye. mr. gomer votes aye. mr. jordan votes yes. mr. buck votes aye. mr. ratcliffe. ms. robe votes aye. mr. gates votes aye. mr. johnson of louisiana. mr. biggs votes aye. mr. mcclintic votes aye. ms. lesco votes aye. mr. cline votes aye. mr. armstrong votes yes. mr. stubey votes yes. >> the gentlelady from texas. >> no. >> ms. jackson-lee votes no. mr. cohen votes no. >> has anyone else not voted that wishes to vote? >> mr. chairman, plr -- >> the judiciary committee passed a resolution on guidelines for its investigation into articles of impeachment against president trump. we are live now on capitol hill where house speaker nancy pelosi will be briefing reporters shortly. >>> good morning. yesterday we gathered on the steps of the capitol to hold a moment of silence to observe a nation

jay powell can't find a way to thread the needle, and presidential pressure simultaneously, this market could have a very rough go of it, next week. let's go to noor in georgia. >> yes, thank you, mr. cramer, thanks for taking my call. >> of course >> this one is on drrk. pepper,s it in line where you think it should be. >> i like the stock. i like the stock very much i think that gam gordon is doing a terrific job i would buy any week, one of my favorites, and not just because i like diet dr. pepper as everyone knows on a late friday afternoon. the market is going to roll, but you got to guard against complacency. things may not go the bulls way on wednesday wondering which companies are controlled by the trade talks with china i'm going to play hostage, nonhostage, and didn't leave investors on the first day of

mr. stanton votes no. ms. dean votes no. mcursel-powell votes no. miss escobar votes no. -- [indiscernible] >> motion to adjourn. mr. collins votes aye. mr. sensenbrenner. mr. chavis. mr. gomert. mr. jordan votes yes. mr. buck. mr. radcliffe. ms. robie. mr. gates. mr. johnson of louisiana votes yes. mr. biggs votes aye. mr. mcclintock votes aye. ms. lesko. mr. rpsenthaler. mr. armstrong votes yes. bie.steu mr. gates, you are not recorded. mr. gates votes aye. clerk: mr. chairman, there are .ight ayes and 20 nos >> point of parliamentary inquiry. chairman nadler: who has a point of parliamentary inquiry. the gentleman will state his point of for the mentor inquiry. >> thank you, mr. chairman. the rule wetes to change last week where we mentioned staff conducting it has been expanded to include consultants today. we contemplated the distinction between independent contractors such as a consultant. chairman nadler: sorry, disney quantum -- did we contemplate what? >> independent contractors, vis-a-vis, employees and staff being a part of the distinction

mr. chairman, when did you stop beating janet yellen, please, chairman powell, don't do it to yourself and to us of course this market speaks with forked tongue there is a camp that is thrilled we did this and on a positive note about the new iphone has massive orders so the buyers swarmed into apple congratulations to steve dowling, remarkable person who has helped us tremendously, 16 years an investor relations retired today. remarkable job, fantastic, through all sorts of turmoil i wish him the best of luck. we all do and have other people buying the bank stocks because there is a chance powell's rate cuts may put an end to the artificially inverted yield curve and preventing the economy from sliping into a credit ruining recession. yet powell's not planning to slam his foot on the gas pedal but tapping it to make sure the economy doesn't slow down too much and that works for the banks. i love a market led by the financials a sign of health if you only remember one thing, remember that the banks ramallied. that's positive. i think it should carry us through the rest of the week when we

mr. nagusse. he votes no. ms. stanton. ms. dean. ms. carswell powell. mr. collins. mr. collins votes aye. mr. sen sen brunner. mr. radcliffe is voting yes. mr. robey. mr. gates. mr. gates votes aye. mr. johnson of louisiana. mr. johnson of louisiana votes aye. mr. biggs. mr. biggs votes aye. mr. mcclinton. mr. mcclinton votes aye. ms.lessko votes aye. mr. reshenthaler voting aye. mr. armstrong votes yes. mr. stube votes yes. >> has everyone voted who wishes to vote? madam clerk? >> mr. buck you were not recorded. mr. buck votes yes. >> anybody else? the clerk will report. >> mr. chairman, there are 13 ayes and 19 noes. >> the gentleman is not recognized. >> i will be. >> the point of order is sustained. >> mr. chairman? >> i am very troubled that the white house counsel sitting behind you are preventing you from answering these questions. >> mr. chairman, i have a motion? i have a motion. >> you will wait for your motion until i finish this. >> point of order then? point of order has got to be recognized? >> not in the middle -- >> yes, it does. >> since the chairman is not falling the rules, i motion to adjo

mr sandhu says he had hoped for support from his friend, the local mp — that was one enoch powell, whosese used to be his committee room on election day, so he was so close to me. but in politics, you don't know when they are friend or not friend. if i had known it was your newspaper, i would not have... now, half a century on and the city is paying a new tribute to one of its heroes. a play called himmat — which means courage — is being performed at the wolverhampton art gallery. and then sharanjit, who finally gives her the coins. i know from my own experiences people don't always have an understanding about who the sikhs are as a faith and as a community. and so, it is important for everybody to recognise that these things are happening in different ways. but they are still out there and we cannot forget that — especially in the day and age that we're living in now. we interrupted rehearsals with a surprise visit from the man whose story inspired the play. this was your first job? as a bus driver. 0k, 0k. i don't think that's from wolverhampton, but this is a driver's badge. back at w

powell is trying to do here. not to give a green light, go ahead, mr. president, put on more tariffs only if there are clear and obvious repercussions or fall out to the economy from the tariffs, we will expost address them. >> the repo story people are talking about today. >> yeah. >> what do you make of it? it seems to be the market is taking it as -- it's more technical maybe than worrisome. >> right. >> but worth paying attention to. >> right so there are some of the reasons. rates in the short term overnight repo market spiked there was a big corporate tax payment on the 15th. there's been some treasury stuff on the back end. and the concerned about the year end balance sheet funding is out there. let me try a simple analogy here you ever call the plumber. you got a leak then he comes over and he lets a little air out of a system and all of a sudden everything works fine that's what they did the fed came in and did a liquidity operation this morning. put $53 billion into the system. things may have settled down they may be okay >> the pipes are oka

mr. president, you have to deal with this, the president on the other hand is saying to jay powell, no, yours, creates more uncertainty and hurts his cause and jay powell doesn't look as innocent and will play along with the president. chris: congress after a long recess is coming back this week and there is going to be a lot on their plate, what do you expect on congress on gun control after terrible mass shootings in the summer on impeachment and on keeping the government running because they still don't have a deal at least on this point on september 30th, the end of the month to fund the government. >> well, on the last one i think that they are going to muddle their way through a solution, may not happened before the end of the month, both parties recognize that it's to their detriment if they don't get a deal and it's to their advantage . then i think they'll get x don't, absent that, do i ent see any action on guns, you know what, my sense is all of the next 3 months is going to be basically drowned out by an action that's going to start this week with a vote by the house judiciary com

mr. president, how you said jay powell was a bone head but no guts. why?but i don't want to we're so strong despite jay powell but he's not helping us. other countries have lower interest rates and he has, look, it's very simple. he listed the rates far too quickly and he lowered them far too slowly and it's a shame. it's a shame. reporter: are there other bone heads in your administration whose jobs are -- president trump: not too many bone heads. i'll tell you what. we really now have a great administration, but what we have is a great cabinet. our cabinet has done a great job reporter: mr. president? president trump: go ahead. reporter: [indiscernible] president trump: no, he is a great gentleman, joe. he's doing a fantastic job and i no one thing, he's only going to do what's right but he's doing a fantastic job. but just so you understand, the conversation i had with the president of ukraine was absolutely perfect. people better find out who these people are that are trying to subvert our country because here we go again. these are bad people. but the