form fed chair paul volcker has new information about the fed chair. the halftime report starts now >> let's begin with the markets optimistic over a trade deal with china is that what this is, part of the trade deal ramp up >> you bet it is people are feeling better about that possibility we talked about that it's coming as well from china saying we are moving towards better resolution to this. the president extending time was another positive >> past the deadline if you look at the stocks that are just moving. obviously, the ev producer in china and warren buffet was talk about it as well ev is out of china these stocks are going crazy right now because of the 60 minutes broadcast last night but the broad market etfs for china. >> you take 2800 on the s&p. how far can this go? we've had a debate as to whether the trade deal was in the market already given the run up from the december 24th low or a sizable move to be had what do you think? >> we're optimistic on where stocks go from here. we think the market is increasingly priced in the removal of th

paul volcker, thank you so much. you look at the future of the food industry, what has been the biggest transformation in the last 20 years? paul: before, people were worried about having enough calories and food. that has moved completely towards having good nutrients, not too much calories. the consumer has grown into an awareness about food and health and nutrients, and it is pretty good for us because nestle had a status sheet all about nutrition, health, and wellness. knowing how nutrients interact with health and having quite a sizable r&d research, we are answering specific needs. insumers are changing knowing the supply chain behind the products they have. a little more empathy with small brands. i would say the food industry is in one of these rapid evolutions that is very interesting for us. francine: is this because of mobile and the access to information, or something else? paul: a combination. our transparency and information, social media. people take so many photos of what they eat. also, there is awar

yellen fed that was are you getting way more transparent, can it complete the same objectives that paul volcker was trying to complete? volcker wasaul incredible when you look back at what he did because not only did he not tell people what you was going to do, he would often had -- say oned fake thing and do the opposite. towardmoved greater -- transparency more and more. chairman powell is dialing that back. there are more frequent press conferences but less clarity about what it will be. it is like, we are going to pause and we might change our minds. that is why the market has responded dramatically to the singles in the market when it went down and thought the fed would tighten and tighten. when it would pause, that created an uplift. the market is getting used to a new regime under chairman powell, where there are more press conferences, but less openness about what he might do next. is the market analysis as smart as it used to be? is there an effect where more experts?ink they are as clerk people were days, specialists and the market would leave it to the specialists. sebastian: this is

former fed chair paul volcker with a warning about banks we'll tell you what he said and what it alld most of the investment committee owns the call of the day. debating microsoft that stock approaching another new high, all at noon on the half 15 away. that means, morgan, we'll see you shortly. >> we'll see you then, scott, thank you. >>> let's head back out to barcelona to jon fortt jon? >> reporter: morgan, been talking about this interview with intel ceo bob swan, his first interview since no longer being interim ceo, the permanent ceo. first broadcast interview. we started talking 5g. base stations are a big area for intel in 5g. they expect to gain as much as 40% market share in 5g base stations in the next couple of years. now, intel talked previously about their modems for smart phones and 5g. those are not going to be ready until the second half of this year, behind qualcomm on that score but we talked about more than that, we talked about the economy in general, geopolitics. take a listen. >> i think we're all excited by the progress that seems to be made in discussions bet

raised paul volcker concerns that the culture of banking only focuses on the profits of the firm in the pay of the ceo. i share this concern that we should focus on this. since 1979, you know these numbers, worker productivity has grown 70%. compensation for those workers has grown by just 11%. 1/10 of 1%the top southern earnings grow by 143%. this disparity is even worse for women in people's color -- and people of color, so do you think the mandate is to ensure people are employed, or do you think for employment implies a dignity of work, that is, workers earn a salary and benefits that let them fully participate in the 2019 economy in our country? mr. powell: bardot mandate is maxim -- our mandate is maximum employment and we will try to take that to heart. our tool is monetary policy to achieve that. i think we were at a 50 year low in unemployment. there are many other issues in the country. , butentioned some of them honestly, to achieve some of the things you are talking about, we need other tools. the fed cannot affect every social problem, as you well know. >> this is not a soc

, opec is lowering 2019 oil demand forecast, then speaking out former federal reserve chairman paul volcker stepped back looking what is behind growth in military meal goes viral this he photo has uncanny resemblance to president trump. and kanye west coming up tuesday morning joining me to break it down fox business network dagen mcdowell, kings college professor chairman of the program, in business and finance brian, lindsey bell good morning, everybody. great to see you. >> gadgets. >> can't believe 8:00 a barbed wire -- where do you go from here maria: we have a lot of places to go this morning economics, taxes with kevin braid. dagen: dagen: i can't wait for that. maria: we know governor cuomo is headed to the white house today to talk to president trump, about the elimination of the salt deduction. >> exactly as predicted knew blue state governors were not going to like this they have to reform taxes. dagen: if you repeal the tax though as the governor wants, handout to the rich. -- the tax foundation found that pealing cap on state local taxing deductions would clm exclusively provid

bridge water's founder ray dalio sat down with paul volcker for an hour-long conversation about the fedt was taped in volcker's new york home. it happened in november but was just put out online overnight. take a look. >> i grew up in a world where, you know, i moved in the united states treasury. treasuries around the world. >> you were. >> well, the u.s. treasury was >> yes >> and the federal reserve that's different now we're learning in a world where we're still top dog, maybe, but the top dog isn't so ready recognized by others as it was we obviously have the rise of china as a clear competitor for world influence. and how that all works out, we'll see. but it's not the comfortable world of assumed leadership that i grew up with that's what i struggled with in the rtreasury and the federal reserve. the rest of the world is growing it more we kind of forget about that now as things change. but we have to learn in a world where it's not taken for granted anymore. that's been speeded up by washington and the country the last four or five years. >> paul volcker is 91 years old. wrote a

do we need to listen to paul volcker? seema: there are two sides to this. it is a different time.inflation at the levels we did see a couple decades ago. at the same time, we have to be cognizant that once you do you nchor, it stays with you. --id: where does craft-kinds craft-heinz go from here? this is bloomberg. ♪ ♪ this is "bloomberg daybreak." electricgeneral unloading its biopharma unit to danaher for 21 $.4 billion come almost all in cash. ge expects to use the proceeds to reduce leverage and strengthen its balance sheet. a canadian miner is making a hostile $17.8 billion offer for its rival newmont. newmont is valued at 8% less at friday's close in talks lasted as a talk of take over as a desperate and bizarre move. warren buffett not giving up on kraft heinz after the $15.4 billion write-down but won't be buying more shares either. he tells cnbc he overpaid for kraft. hit from that.a that is your own flash." speakingeresa may is and she is saying a delay would not accomplish much of anything and that all the eu leaders have a determination to find a way through. say that

here is the chart i have showed you but i have taken it back to paul volcker.is the yellow line and for 25 years, the regression has been below that 2% mark. would you suggest that chairman powell and others will bring down that 2% benchmark? ed: you and francine do not just report the news. tom: we make it up as we go. [laughter] ed: you create what is happening. there are three major vectors and this is one of them. the general topic on this vector is the fed. our view is that the fed is going to present a new platform where they will say they are going to allow inflation to run over 2% because as your chart shows, it really never is above 2%. why would they tighten immediately if it gets to 2%? 1.8%, moment, it is about so they are not even close. they might not get to 2% in the foreseeable future, so this is a critical issue. every day, there are examples of headwinds to inflation. tom: i want to show a tone of the hour, and you will be with us, what i had a my opening, a will to invest. you -- in my opening, a will to invest. for evercorewrite isi december

last week former fed chair you paul volcker became concerned that the culture of banking only focuses on profits of the firm and pay of ceo. i share this concern. since 1979, you know these numbers, mr. chairman. worker productivity has i don't know 70%. compensation for workers grown just 11%. top .1 of 1% saw their earnings grow by 343%. this disparity as you know is even worse for women and people of color. so do you think, mr. chairman, the fed's employment mandate is just to insure that people are employed or do you think full employment imply as dignity of work, that is, meaning workers earn a salary and benefits that let them fully participate in the 2019 economy and our country? >> our mandate as you well know is maximum employment and we try to take that to heart and you know our tool for trying to achieve that is monetary policy. i think, i think we're at 50-year low at unemployment. there are many other issues in the country. you managed some of them but honestly to achieve some of the things you're talking about, we need other tools. the fed can't affect every social probl