nellie lange is currently a fellow at the brookings institution.aunched the office of financial stability after the financial crisis, headed up the department she worked at the fed for 31 years before retiring last year and now according to the "wall street journal" a nominee to be on the fed's board of governors back to you. >> elon, thanks. >>> shifting gear now time for the instant replay back in may pete stepped up to the plate to pitch disney. >> the fundamental story is this they buy back share, great dividend, cash flows all the time i think this is a company that you can see the lack of performance. i think performance is in the future >> since that call on disney, the stock has jumped 7%. what do you do with disney now pete. >> still holding still think it goes higher. as they get closer to the competition of streaming with netflix i think they win. >> well since disney was a winner of a pitch why don't you go back up to the plasma give us the best shot here. >> all right here we go against. once again here is the name i put out. i pitched

there's nellie lang from brookings, 30 years at the fed, was in charge of financial stability.ichelle bowman. kansas state backed bank commissioner and marvin goodfriend whose nomination hangs out with opposition in the senate he is a bit more hawkish as you'll see in the next panel he's the one nominee from the trump administration -- people are pretty surprised how centrist these nominations have been marvin goodfriend the one hawkish person nellie liang very much in the center of the board. where is the center of this board? the answer seems to be continued gradual rate hikes in the face of an economy operating hotter than most in the fed currently believe to be the steady run rate, both in gdp and employment also means continuing an effort to normalize rates, possibly going a bit above neutral if warranted. but i think they're also not in a particular hurry and are open to the possibility, guys, that the run rate is higher than they thought, which means we could grow faster with less inflation, jon. >> place your bets, we'll be watching thank you, steve liesman >>> when we

so nellie lang was just put forward by president donald trump to the fed board and i was just curiousven that she's a long time veteran of the fed whether you could speak to what role you played in rec

nelly lang was just put forward by president trump to the fed board. i was curious, given she's a long-time veteran of the fed, if you could speak to what role you played in recommending candidates to the president, giving input on who he should nominate? also, if i may follow up on the financial stability discussion from earlier, you mentioned before that corporate debt is at high levels. i was curious whether you have any call s about loosening up restrictions on leverage lending by making that guidance less of a cudgel at a time when leveraged lending is gaining speed. >> in terms of the nominations to the fed, those are entirely, completely under the control of the white house and ultimately the president. traditionally the fed chair has been consulted on those, and i'm happy to say that has continued. these are really decisions for the white house. think of us as just being consulted. i will say i'm very happy and excited about the team that we're putting together, and i'm very much looking forward to having those offices up and down our hall fill

so nellie lang was just put forward by president donald trump to the fed board and i was just curious, given that she's a long time veteran of the fed whether you could speak to what role you played in recommending candidates to the president, giving input on who he should nominate, and then also if i may follow-up on the financial stability discussion from earlier. you've mentioned before that corporate debt is at high levels and i was curious whether you have anything about loosening up restrictions on leverage lending by making that guidance less of a thing i guess while at a time when leverage lending is gaining steam. >> okay, so in terms of the nominations for the fed, those are entirely completely under the control of the white house and ultimately the president and traditionally, the fed chair has been consulted on those and i'm happy to say that that has continued but these are really decisions for the white house and we think of us as just being consulted. i will say that i'm very happy and excited about the team that we're putting together and i'm very much looking forward

that there is nelly lang just named recently as a nominee to the federal reserve board. bowman, the kansas bank commissioner there's marvin goodfriend who's been nominated for a very long time and held up by members of the senate i think it's democrats mostly who worry about how hawkish he is you can see that reflected in our fed survey take a look here at where people think these people land relative to the center of the board michelle bowman, you can see there's a lot of unknowns with these individuals. except for marvin goodfriend who is more hawkish. i think he's more nuanced than all that there's nelly lang seen as being really a centerist and talk about the opposition. all of this raises the question where is the center of the board i'm talking about. operating hotter than they think to be the steady run rate in gdp and employment remain to the possibility of earlier. potential gdp is higher. >> thanks for that we're going to spend time with you later this afternoon watching you and the press conference is there one thing you're looking for jerome powell to say, by

nellie lange was put forward by president donald trump to the fed board.s just carries, given she is a long-time veteran of the fed, whether you could speak to what role you played in recommending candidates to the president, giving input on who she -- who he should nominate. if i may follow up on the financial stability discussion from earlier, you have mentioned before that corporate debt is at high levels. i was curious whether you have any qualms about loosening of restrictions on leverage lending by making that guidance less of a cudgel, i guess. while, at a time when leverage lending is gaining steam? mr. powell: ok. in terms of nominations to the fed, those are entirely completely, under the control of the white house and ultimately the president. the fed chair has been consulted on those. i am happy to say that is -- has continued. these are really decisions for the white house. think of us as being consulted. i will say, i am very happy and excited about the team we are putting together. i am very much looking forward to having those offices up an

president trump will nominate nelly lang to one of the vacant seats on the federal reserve board of governors. fellow at theor brookings institution and specializes in credit markets. earlier in her career, she spent three decades at the fed, and help strengthen the banking sector after the financial crisis. the first private equity firm exclusively on the cannabis billionaires.hree the seattle-based was formed in 2010, and it investigated -- it invested in a top of $21 billion yesterday after surging 1200% in the past two months. global news, 24 hours a day on air and at tic-toc on twitter, powered by 2700 journalists and analysts in more than 120 countries. this is bloomberg. francine: we are getting news out of russia. we have been talking about russia a lot, it has an output itord with oil, and is in agreement with saudi arabia. they care so much about the price of oil. that is how they balance the books. the russian economy is dependent on oil as much as 20 years ago. -- that is the latest from russia. government officials said they have posted an output record. treasuriesselloff in that

but his picks for the fed, most recently, nellie lang who is a fed economist have been to quote the wally of the fed for years to come. >> dagen's absolutely right about that. there was some worries earlier this year that we were heading towards a big blow-out fight between the fed and the white house. but he's put really mainstream people on the fed board and people who are probably going to be loyal to jay powell, his independence is pretty well secured right now. maria: we'll leave it there. great insights from you on the fed. we'll get the official announcement tomorrow at 2:15 eastern. a shakeup at facebook, the latest leadership change as the co-founders of instagram are leaving, that is next on "mornings with maria," stay with us. what if numbers tell only half the story? at t. rowe price, hundreds of our experts go beyond the numbers to examine investment opportunities firsthand. like a biotech firm that engineers a patient's own cells to fight cancer. this is strategic investing. because your investments deserve the full story. t. rowe price. invest with confidence. >> welcome b