mr. fischer to discuss. monday, 1:00 p.m. in new york, 6:00 p.m. in london. this is "bloomberg surveillance." ♪ mike: good morning, new york. if you have got yen, they are worth less this morning. this is "bloomberg surveillance." i am michael mckee in with tom keene along with francine lacqua. vonnie quinn has what is going on in japan. vonnie: in japan and elsewhere in the world, the biggest oil haveas producer, profits fallen because of the global slump in energy prices. citing lowers prices. gas and a grip on the european rupertion company, murdoch's son, james murdoch, is the inner parent -- heir apparent. slowed in theery fourth quarter as terrorist attacks kept tourists away. gdp in france moved .2% in the final two months of 2015. meanwhile, spain maintained theth, .8%, unchanged from previous quarter. that is our bloomberg business. francine? francine: vonnie, it is interesting, looking at a growth that we saw in countries in europe, maybe a temporary reprieve, but now they have to deal with the doj. this is what i picked for my morning must-read, ou

mr. fischer and mr. williams on tv. the interviews were great, but it was the responses that i hated.ise the fed funds rate more. >> for three years. >> we're growing at 1% with no inflation. they are out of their minds. >> you were a fan, i think, after the financial crisis, some of the steps the fed took. >> the first one, yes. the rule of central banking, stop the crash, lender of last resort, yes, absolutely. beyond that, fiddling, no. no. >> okay. >> running an economy, no. >> not just fiddling, but a deep dive with qe multiple rounds. >> did it help? >> no. >> did we get the 4% growth promised us? >> no. >> what did we get for all that? what is it, $3 trillion? >> doesn't create anything new that wouldn't have happened on its own, but makes it happen today rather than tomorrow. >> people who like it say we performed better than anyone else. >> oh, hells bells, i don't know what that means. for the past 300 years we've done that. other than letting markets operate, can we please cut, slash the corporate tax rate for large and small businesses? all right? stop beating up on them.

her interview, tune into tonight.g west" and on monday, a conversation .ith stanley fischer tom keene will sit down with mro discuss the economy and monetary policy. ♪ >> welcome to "bloomberg markets ." from bloomberg world headquarters in new york, good afternoon. here is what we are watching. we've got a huge rally going on. the dow is near its highs around 300 points. traders getting ready to say goodbye to january. it has been a month of volatility that will go down in one of the worst since august. fueling the gains, a decision by the bank of japan governor kuroda to go with a negative interest rate strategy. is a bold move. he loves to surprise markets. it is at the cost of banks and their profitability in the intermediate term. betty: and as american express falters, mastercard and visa are cleaning up.

fischer: thank you. mr. fanning, i appreciate you being here and i have to say you are one of the most refreshingly candid witnesses i can recall. i want to join senator donnelly and encourage you to carry that quality into your work. you have a great deal of experience and knowledge and i've learned a great deal of wisdom. hesitant and even if it friction, that is your value to the united states and i hope you will maximize your input. i believe you have a lot to contribute. there has been a theme in our discussions today and it occurs is whathat bothers me we are talking about is turning one of those expensive aircraft carriers. we make strategic decisions that have long-term implications and long-term implementation based around assumptions that turn out to not be very good. i was in iceland recently and if there is a strategic spot on this planet it's iceland in the north atlantic. yet because we thought the cold war was over we close the airbase. i think that was a tremendous mistake because the world h

♪ alix: coming up on monday, a conversation with stanley fischer from the council on foreign relations. tom keene will sit down with mrer to discuss the economy, the fed, and monetary policy. we are looking at three most important things that you may have missed today. when we talk about the gdp report, it was kind of mixed. but there was some good news on consumers. bloomberge the terminal, you can see the annual pce on a year-over-year basis . our recession special yesterday, what can you help was one critical reason why the u.s. may not be turning into a negative growth. the consumer is confident, they have a job, and they are spending. and not offense any manufacturing recession we may or may not say. and may o to dive into the bloomberg roll cake and talk about another decent sign for the economy. i'm looking at chicago's pmi midwestern manufacturing indicator. this is a very bouncy number. this month, surging back up to 55.6. you can see that this number bounces around a lot. you do not want to over read too much. but the good news is this is what you would not expect to see if we were collapsing into a recessio

mr. chaffetz: i really want to thank senator fischer and her -- the great work done in a bipartisan way in order to move this bill forward. that combination, working with a member who serves on our committee, mr. walberg, and the relentals work on this piece of legislation. it's often referred to as the gone act, grants oversight and new efficiency act. i believe the bill will be effective in bringing about greater reforms for the grants closeout process, allowing agencies to save dollars and make better use of constrained resources. we cannot afford to allow grants to remain year after year of their expiration date. the gone act is an important step in addressing this issue. again, i want to thank the gentleman from michigan for championing this bill and working through this -- his work on h.r. 3089, as well as working with the senate in order to bring it to this point this day. with that, mr. speaker, i'll reserve the balance of my time. the speaker pro tempore: the gentleman reserves. the gentlewoman from the district of columbia is recognized. ms. norton: mr. speaker, i yield myself su

fischer. >> as any good attorney will tell you, to know the case, you have to live with the case. and the only person that lived the case and knows the case is mr. polarmo. >> the accuracy was found by the "new york times" correspondent, jim dwyre. it happened about 50 years in to the case and i thought, whatever happened to the kid that found the nickel? and i had interviewed him you and made arrangements for him to testify at the time of the trial. it was simple, we had the chain of possession of the nickel and that was important in the case. but he didn't get to tell the story. and i said, you know, what's the real story and the story is, absenolutely fascinating and in word, essentially after they -- after he tried to give the nickel to the father of one of his classmates who was a new york police detective. he went home and told his dad about it and then went off and played. and then the detective comes home and hears about a nickel that opens up with a micro fiche inside of it and there's a code in it. and the detective goes to the church where the mother is playing bingo, takes ta s all t money at the bingo parlor, he is looking for the

mrs. fischer: mr. president? the presiding officer: the senator nebraska. mrs. fischer: thank you, mr. president. i rise -- the presiding officer: we are currently in a quorum call. mrs. fischer: skilled that the quorum call be vitiated, please. the presiding officer: without objection. mrs. fischer: thank you, mr. president. mr. president, i rise today to pay tribute to the brave men and women of nebraska who have served and are serving in the united states military. our state has a rich and powerful history of answering the call to serve. for nearly 150 years we've witnessed this bravery in each of america's wars. over the past decade, the men and women of nebraska have risen to defend our precious freedom against islamic terrorists, primarily in iraq and afghanistan. this year marks the 15th anniversary of the horrific terrorist attacks in new york and washington, d.c. these events changed the lives of nebraskans and our nation forever. nebraskans stepped up, ready to fight. those serving in uniform, it be active duty, the national guard or the reserves, knew that they would likely

mrs. fischer: i l. i see senator blumenthal on the floor. thank you, madam president. mr. blumenthal: thank you to my colleague from nebraska. and thank you, madam president. i ask that the quorum call be lifted if there was one and permission to speak. the presiding officer: the senator from connecticut. mr. blumenthal: thank you. madam president, i come here on two issues of great importance to our nation, both involving the rights and opportunities of individuals to live in the greatest, strongest nation in the history of the world with the tremendous opportunity to fulfill their dreams and their rights. rights to enhance themselves and rights of privacy. tomorrow we will celebrate the 43rd anniversary of the supreme court decision in roe v. wade. as i recall well from my days as a law clerk to justice blackmun in the term following roe v. wade, that was a bitterly controversial decision but it was one that we thought at the time would assure every woman of her constitutional right to make her own decision about whether and when to have a child based on the fundamental