peter cook is keeping tabs on the talks and he has the latest from washington. we have a deal yet? peter: we do not have a deal just yet but diplomats and to conclude a framework agreement by this sunday ahead of the formal march 31 deadline. that is the best case scenario. secretary kerry resuming talks today with his iranian counterpart at the palace on the shores of lake geneva after meeting with kerry, he says talks are moving in a good direction. he says the entire puzzle has not yet been fully assembled. one sticking point -- the technical terms are ironed out ahead of a final july 1 deadline. you was officials are insisting the details must be made public so members of congress israel come other nations can see for themselves the terms of the agreement. the duration of any agreement, the pace of sanctions relief for iran, access for inspectors and limits on iran's ability to conduct research in the element going forward. while they are moving to a deal, negotiating -- that's where things stand right now. they are not on their way to switzerland. there cou

pimm fox: inky very much, peter cook -- thank you very much peter cook, for monitoring the president's remarks. let's talk about debt. $14 million worth of debt was sold by exxon. the last time energy companies sold in excess of $10 million was 2012. laura has been following this story, and she joins us now. it seems like at the beginning of the year, we saw the price of oil decline and a lot of companies got hit with a decline. companies were facing a cash crunch. laura: everybody is going in and trying to get more money and have more money go to work. what you identified was a little bit of a contrarian view out there. some people felt like the price was overpriced, and they were selling out a little bit. pimm fox: making some money taking the profit. laura: exactly. they were saying there is so much money coming in. pimm fox: the amount of bonds issued by companies such as exxon or energy 21, is there anyway to understand in detail whether this is money that is going to be good or refinance later? laura: i don't know that we have one strategy. energy is so many different companies.

washington correspondent peter cook is following this story.ek will be easier for speaker boehner -- any sign this week will be easier for speaker boehner? >> we saw over 50 fellow republicans torpedo his plan because it did not have language rolling back the president's immigration proposal. boehner tried to twist arms and kept it open, and they averted a crisis at dhs, but it was a major embarrassment for the speaker and the republican-controlled congress. >> the fact that the president had to sign a seven-day extension does not just reflect a that decision made by republican leadership in the house, it reflects the failed leadership in the house. >> now with the new deadline this friday, beeker boehner has to try to pass -- speaker boehner has to try to pass another initiative. a clean funding bill that does not have wording about immigration. both carry risks for him, as well. >> is one of those risks the speaker's job? >> right now, there does not look like there is any direct challenge to his speakership, but no one has stepped forward to

mark: peter cook in washington, what is the mood? there is a lot at stake in the political arena for the obama administration. peter: absolutely. the same waiting game happening here in washington. the president did travel to massachusetts for that ceremony for the edward kennedy library up there but we have been told from the white house that he is being regularly briefed on what is happening there, and on occasion has been weighing in with his own thoughts on some of the issues that are still outstanding. this is a white house waiting like everyone else. congress is out of session. we are also hearing from rumors of congress, some of them offering criticism for a deal they have not yet seen, that has not been reached. others encouraging the administration -- do not push so hard for a deal right now. be prepared to extend talks if necessary, rather than sign a bad deal now. mark: do we have any idea how president obama is being briefed on the situation? is he getting involved in talks? peter: he is getting involved. word from the whi

mark: peter cook, thank you so much. the u.s. economy grew 2.2% in the fourth quarter of 2014 fueled by strong consumer spending. the chief u.s. economist for bloomberg intelligence joins me here in studio. thanks for your time. winter weather gets part of the blame for this but talk to us about the impacts of that west coast ports dispute. karl: it did have an impact. it is hard to understand that how severe the impact was. how much recovery we see now that the situation has been resolved. that is what lengths some insight. this is a hot button issue among economists. they are looking at these transitory factors like weather, the west coast port disruption. we see the slowdown. maybe it is all due to that or maybe there is other, bigger problems in the economy, such as the stronger dollar weighing on industrial activity. mark: we did see a pickup and purchases. was it reflected in companies bottom lines? carl: the report really provides a template for what to look for at least in the first half of this year. the major points of

peter cook is on capitol hill with more.eter, is this a first test or closely-watched piece of legislation? peter: it is a major test. the issue of cybersecurity and what the government can do to bolster has been a big topic but there's not been any progress the sony hacker situation thought they would allow for the greater sharing of information between the private sector and the government on a voluntary basis. it would also protect companies in the event they did share information with the government that customers and clients couldn't go after them for sharing that information with the government. this legislation also in a bid to try to address privacy concerns would limit how much personal information could be included in what was shared with the government and how law enforcement could use this information. but there's still concerns on the part of privacy advocates as far as how far this privacy goes. republican from north carolina and dianne feinstein will be voting on it. we will be talking with them about what's i

peter cook in washington. in greece, we were speaking. say press is back.ty liu will speak to mr. purcell he about when will wages rise? let's look at oil, away from the geopolitics. oil has been lowered for longer. the price moved on yemen a few days ago. more than anything, crushed by the microeconomics oversupplied. marginal international relations at eurasia group. brent is key. which nation should we focus on? >> it cost them some revenue but they have reserves and they like the neuron sweat. they like seeing the russians sweat. for the moment, they are sitting and saying we do not have to do anything area and tom: do they have a phone line that goes in? >> they wield the predominant influence. the problems is opec's together they announced cuts and the salaries feel everyone else cheats. they say we need fellow members and non-opec members to share the burden of cuts if we're going to do it. brendan: we're going to go to stephen schwartzman. he says there are remarkable deals in debt and equity. stephen: when you go into a period of distress, everybod

we will see if netanyahu achieved his goal of undermining this deal. >> peter cook, thank you. when "bottom line," continues we have more on the netanyahu speech, and his book "the age of sustainable development." ♪ >> welcome back. in his address before a joint meeting of the u.s. congress prime minister netanyahu warned lawmakers about the fallout from lifting sanctions on iran. joining me is jeffrey sachs director of the earth institute. he is also author of "the age of sustainable development." welcome back to "bottom line." is this, as prime minister netanyahu characterizes it, and this understated -- a misunderstanding among family or is this a great? >> prime minister netanyahu is just wrong on these issues. president obama is right. the idea that the israeli prime minister came here to derail these negotiations, which are just u.s. iran negotiations, but this is u.s., u.k., france russia, china, germany. it's not a naÏve group. to come do this i think was absolutely inappropriate. the idea that you just hold sanchez to try and undercut any chance of success -- sanctions

. >> let's go to peter cook with the fed decision and statement. good afternoon. >> patient is gone. the fed is dropping its pledge to remain patient. at the same time, their forecast for interest rates going forward show the pacing seems to be scaled back. somewhat a mixed message. consistent with its previous statement, the committee judges an increase in the target range for the federal funds rate remains unlikely at the april fomc meeting. the committee of his space it will be appropriate to rage -- raise the rate when it sees further improvement in the labor market and is confident that inflation will race back to its objective. this does not indicate that the committee has decided on the timing. june is not a lock. there is additional language here. the economic language suggests the fed has seen this operative recently. that's this -- has seen this soccer data recently. -- softer data recently. resources continues to diminish. household spending is rising moderately. business specs -- business fixed -- inflation has the client -- declined. m

peter cook has more on the announcement and how he shakes up the race. ter: just two years into his first term as a senator, he hopes to follow another freshman senators footsteps by winning the white house. like barack obama, he would be the first hispanic president, but he promises a very different direction for the country if he were to win the white house. he made the announcement official overnight on twitter and and in online video this morning and then took the stage at liberty university where he delivered a sermon like speech and talked about the struggles his emily overcame, his faith and his struggle and desire to reignite the faith in america. >> i believe in the power of millions of courageous conservatives lining up to reignite the promise of america. that is why today, i am announcing i am running for president of the united states. [applause] peter: he wants to prove himself as the most conservative in the field and made an appeal to the tea party. in a short time here in washington he has rubbed some republican leaders the wrong way and c

stephanie: thank you to peter cook. he is working overtime today. we are more than an hour into the trading day to let us find out what is happening in financial markets from scarlet fu at the breaking news desk. >> nasdaq backing away from matching its record high. we will keep an eye on that. one name making a little bit of a comeback is lumbar liquidators. david strasser says yesterday's 25% plunge on the back of the 15 minute story was overdone. he now upgraded lumbar liquidators to buy. he says it is compliant with california regulators. the basic thesis here is his sense of management risk everything for a little does not make sense. it has gone from under $40 a share to as low as -- sorry it has gone from $70 a share to 48 . another stock is no longer a buy micron will. will need to increase -- micron will need to increase to fight samsung. you were talking about disappointing sales for carmakers. autozone not affected. shares trading at a record high $663.38. erik: thank you very much. stephanie: when we return, he is one of the most promine

peter cook joins me with the latest.ceiving word the vote to override did fail in the senate. >> the final tally was 62-37. they needed two thirds majority to override the veto. there were a handful of democrats that voted in favor of overriding the president's veto but not enough to get to that magic number. this is the most significant veto from this president since he took office and probably not the last with republicans in control. it's also not the final chapter for the keystone xl pipeline. he said he vetoed it because it bypassed the process for reviewing projects of this kind. we are still waiting for a final recommendation as to whether this project should be approved. the president said that decision would come within weeks or months and would certainly come before the end of his administration. transcanada is among those hoping it comes sooner than that. >> let's talk about canada. what does it to two u.s.-canada relations? >> the canadians have been very aggressive coming to washington, making the case for t

peter: we could ask the same -- brendan: peter cook in washington, we could ask the same question of the. what is the most recent word in washington? peter: members of congress john boehner is in israel this week. the senate majority leader mitch mcconnell in israel. both expressing criticism of these negotiations and of the deal they believe is being crafted and lausanne. this is going to be a tough sell in congress. but not impossible -- they believe if they get the framework they can sell it to enough members of congress. olivia: the standoff has gone on 12 years, the talks were delayed six months. if this does not work out in lausanne by the end of the day what happens? peter: the question remains could there be an extension. the u.s. has given every indication it wants to see the deadline honored but there could be a possibility of an extension. the other possibility is they get a framework but not every sticky issue gets resolved by midnight. they extended through the formal deadline, the end of june. they have another three months to iron out differences. tom: thank you so much

peter cook is standing by with more on this developing story. the partisan divide weren't big enough, now it is even larger than it was a week ago. peter: that's right. very frayed relations here right now between republicans in congress and the administration and democrats as well over the issue of these iran nuclear talks, specifically this letter signed by 47 republican senators sent to the iranian leadership basically warning that any agreement the president signs may not hold up over time if congress doesn't sign off on this deal in the first place. this sparked an angry reaction from the president, from the vice president but not every republican signed this letter. today i caught up with bob vogel. he was asked why he did not sign the letter. here is his expedition. >> i didn't view the letter as helping achieve an outcome that i would like to see, which is us having that opportunity to weigh in on an arrangement that is so important to our nation's future and to the stability of the middle east. peter: he said he understands the frustrat

peter cook is following that story. is a different approach from the house of public and leadership. peter: it is a free for all if you will come a bid by john boehner to satisfy all the various voices in the house republican conference. giving each of those groups their say, if you will. he may avoid the public -- it is called the queen of the hill strategy. the speaker says whichever budget plan gets the most votes today will become the house budget resolution. it is not normally how this works. the democratic plants will go nowhere because they don't have the votes in the house to get it done. the question is which republican plan will prevail. the company tom price of georgia -- they both cut spending by more than five -- $5 billion. they both repeal obamacare. the one big difference is defense spending. it offsets $20.5 billion of that funding. defense hawks don't like the idea of those offsets. they prefer a second plan that boosts the funding and contains no upset whatsoever. -- offset whatsoever. >> we are consi

peter cook is at the fat. we will hear from him in a few minutes.us, constance hunter, chief economist at alternative investments. a senior forex strategist. these are brought moments -- lisa abramowitz standing by. let me begin with this. 69% of the 49 economists surveyed by bloomberg news believe the fed will remove the word "patient" from its forward guidance language. will it be taken out and will it be replaced by some other form of guidance? >> i think they will take it out. i don't think they will replace it with another word per se. they realize having this word creates a bunch of interest of when it gets removed. i don't think that stops them from being patient. the fed will be patient. they will be data dependent. >> will they take it out? >> we have a 5% probability it doesn't happen. they will take it out. we are going for a rate hike in june. >> what is the bond market expecting? >> the bond market is expecting that they will take patience out. if they don't, that will be a bitter surprise and will say something about the confidence the

peter cook: peter cook october television. first of all, you have been asked to this before. i want to see if you can clarify. when did you decide to raise interest rate, could that decision happen at a meeting that is not followed by a press conference? on my congressional question, i would like to get your reaction to the treatment you received up on capitol hill the other day. it did not look like a pleasant experience, certainly in the -- in front of the house. i wonder if you have concerns about that as the relationship deteriorates to the point that it causes you concern? >> let me start with a press conferences. let me reiterate it. every meeting the federal open market committee has is a live meeting. clearly, if we decided for the first time to raise the federal funds rate it is something i think would be appropriate to answer questions and explain in more detail. we have long had the capacity to call a press conference after a meeting we would hold by teleconference by conference call, and that is capacity that was used on a number of occasions by my predecessor dur

peter cookowing the political back-and-forth in washington. back to you in san francisco. cory: thank you. "bloomberg west" will be right back. ♪ cory: this is "bloomberg west." i am cory johnson. the replacement for john -- jon stewart has been announced. trevor noah has been announced as the replacement, a comedian from south africa. i have known people on the show more than three times. that's crazy. >> in a short space of time. his debut was in december 2014. he is absolutely a newcomer. a bull for comedy central and by,, but in december 2014. his extensive, the background outside of the show is what helped him. cory: big shoes to fill. he has 2 million twitter followers, he is on instagram, as videos on youtube. as the cliche goes now, he is digitally native. >> absolutely. 31 years old, so a couple years younger when john stewart took over in 1999, but he hosted his own show in south africa when he was 25. he has been doing this for a while. he has been in the social media game for a while

peter cook has more from that meeting. ter: you will probably hear a lot from both sides about the continued cooperation between afghanistan and this white house and the obama administration, the good relationship they have struck with this new president ashraf ghani. but the true issue that will dominate, there are 9800 or so u.s. troops in afghanistan. the president's plan called for the number to be cut by half in 2015. and by the time he lives -- he leaves office in 2017, that number would be down to nothing. president ghani has been asking the u.s. to slow that troop withdrawal and give some serious consideration. we will get an answer most likely in this press conference. that will be a big change for this president. you know he committed to wind down the u.s. operation in afghanistan. and he is -- and if he reverses that, it will be significant. mark: talk about the switch in tone from president ghani and his predecessor karzai. peter: you can tell the body language. total breath of fresh air. a very different tone.

peter cook has more on this. what will he tell congress in his speech this morning, peter? >> he will lay out the case against this iran nuclear deal that is still being negotiated at this hour by john kerry. he will make the case that this deal is not only not in the united states and dress or israel's interest and opposes a threat to his country. he will walk through some specifics of what israel sees is deficient in this deal. he touched on some of those topics yesterday. >> as prime minister of israel, i have a moral obligation to speak up in the face of these dangers while there is still time to overcome. -- two over avert them. >> he said the speech is not looking to feel the partisan rank here in washington or disrespect the president. it wasn't blessed are the white house but it does add to the partisan rank here and that is why some will not be attending the speech on capitol hill. betty: the white house offered a pre-bottle to this? >> they did. they say there are still some substantial disagreements on the merits of these new talks and what can ultimately be achi

peter cook will look beyond the theory to the announcement this afternoon. we expect this afternoon? peter: economists resurveyed, as you know, expect the fed will remove the patient language from his statement and signal there is again the possibility of a rate increase as soon as june. are they really data dependent? she will have to reassure folks that june would be the first opportunity for liftoff, but not necessarily a lock from the top. -- a lock for liftoff. how she handles it will determine whether there will be the tantrum of 2013. tom: has she taken press conference 101 or the advanced course during her tenure? peter: we've seen her breast offices involved. she certainly comfortable up there. she knows -- we've seen her press conferences evolve. she certainly comfortable up there. if she wants to articulate a message, she will have the opportunity to do that at this press conference. tom: peter cook with coverage look for that at 2 p.m. this afternoon. and smart analysis here on bloomberg television and radio. robert shiller is a professor at yale

peter cookn me with details. the u.s. economy expanded at a 2.2% annualized pace in the fourth quarter. it was led by the biggest gain in consumer spending in eight years. the chief u.s. economist for bloomberg intelligence will help us break down the numbers. i will see you in a few minutes. that to you in san francisco. cory: mark crumpton, thank you very much. "bloomberg west" will be right back. ♪ cory: this is "bloomberg west." i am cory johnson. one number tells a lot. the c.e.o. joins me with that. what have you got? >> 63%. cory: i understand that is more than 62 and less than 64%. what else? what is 63%? >> that is the percentage of major national advertisers planning to increase their budgets over the next 12 months. cory: what is native advertising? >> it is advertising that looks and acts like the other content on the website. think of sponsored posts on facebook, promoted tweets on twitter. cory: they will be creating content to go into those places where people are reading content

peter cook joins me now with more. does the administration think the progress is a good day given the iranian role? >> there watching very closely. josh earnest calls the movement a positive development but stresses that it is the iraqis leading the fighting with the help of the iranian backed militias. the big concern in front of the senate foreign relations committee is what those shiite militias and iran will do next in the sunni dominated region. >> the militias, they call themselves the popular mobilization forces. when they recapture lost territory or engage in acts of rest or be shouldn't -- acts of retribution, there's no question that is a widespread event at this point but we are watching closely. >> sectarian violence or a return to that would be a big concern for the u.s.. he did say the iranian support was a positive thing from a military standpoint, but they are watching it very closely. >> what does the obama administration think of the developments into crete? >> again, they think it is a positive move

we turn to our chief washington correspondent, peter cook. thanks so much for joining us. what are you hearing is the real reason behind why senator harry reid is truly stepping down from his post? peter: first of all, anyone who has been on capitol hill and seen harry reid up close and seen the injuries he suffered on january 1 when he had that accident at his home in nevada knows that those were very serious injuries. he is 75 years old. he has set up to this point that he was planning on running for reelection. he has been on capitol hill for three decades. this decision is not a total surprise. given the injury, given the age given the fact that he was facing a serious reelection fight in nevada. he insists he would have won that fight. i know a lot of democrats here in washington think he could have won that fight, but this decision paves the way not only for new leadership in the senate side for democrats, but also the possibility for a new senator from nevada. most likely potentially not a democrat. they could lose this seat now that harry reid is not running. lisa:

. >> our chief washington correspondent peter cook joins us. two weeks might not sound like a big difference but obviously this is politically embarrassing. is speaker boehner's job safe? >> you know, there's got to be real questions now within the peb ranks of john boehner's job. there's no immediate coup attempt and some of the people that might lead that attempt said over the weekend john boehner's job is safe for the moment. this is a big embarrassment. this is a big deal in washington. because it shows how tenuous his hold is over the house republican conference. and there's a really good chance we'll see a replay of it on friday unless john boehner decides to blink and bring to the floor a bill that funds the agency through the end of september and has nothing to do with the president's immigration executive action and what democrats say he assured them he'd do. if he does, he'll have to pass with democratic support and once again resist the ire of conservative. >> what happens in the next five days? >> tonight you have a vote in the sena

peter cook?i want to emphasize the point that you are making -- what she is actually saying in the testimony is we cannot wait to see inflation back up to the 2% level we were hoping for. we're not going to wait to see wages moving significantly higher. we have to have confidence that there are other factors out there that will lead to the outcome eventually. i think are mention here is, listen, we might be moving a lot sooner than people thought maybe in line with what the expectations are, but once we do it, again, it will be gradual. no measured pace. that is a foregone conclusion. that is not going to happen. there going to stop, increase rates at some point, stop, look around, see what the reaction is and move from there. this is a different period. this is a different said. -- instead -- this is a different fe. dalix: i want to look at the market reaction -- not a lot of movement, the s&p up four or five points, that if you look at the oil market, we see a significant decline lower as we he

olivia: let's bring in peter cook. ter, you used to work for him at his think tank, but for those less familiar with him, who is president obama dealing with? peter: he has been on the job for six months he is someone who understands the united states, used to live here lived in maryland. he understands politics. he understands the strains on president obama and the possibility the resident might walk back his decision to reduce u.s. troops or alter the number that the u.s. has in afghanistan between now and the end of his term. this is a big moment for the president if he can convince our president to make some flexibility. he has thanked the united states for the sacrifices made. olivia: what is president obama want in return? peter: he has been pushing johnny to crack down on corruption in that country, to do more and try to bolster the security of the country. there are certain things the president wants to check off of his own list. it would be an interesting discussion to be a fly on the wall in that room. a diffe

betty: for more i want to bring in peter cook. peter, first of all, we knew that cruise wanted to jump into the presidential race, but is it a surprise he is the first to jump in? peter: it is not a surprise to he has been talking like a candidate early on. by jumping in now, he jumps the gun on his competition and gets a national spotlight and gets the chance to start raising money right away. a couple of things that his candidacy. he has proven he has got grassroots appeal. anti-washington, antiestablishment take on things. it has got a lot of credibility with grassroots voters on that front. he has also proven he is willing to take on his own party. the negatives are the sharp elbows he has use in washington has hurt a lot of fellow republicans pay the questions of how viable candidate he is in the general election. john mccain once called ted cruz a wacko bird. he was fast if he could be hillary clinton. john mccain: if of the republican party nominates him i do there it he is a valued member of the senate armed services commit

peter cook is on the scene in capitol hill. peter: we have the senate intelligence committee meeting behind closed doors. the chairman of that panel dianne feinstein, they have joined forces to put this bill in front of the committee. we haven't seen the final language. we saw a draft a few weeks ago. it would provide a safe harbor provision for companies that share information with the government. there are other components, including efforts to address concerns about privacy, personal information of customers of those businesses. that information would have to be removed before it is shared with the government. there are questions over whether that will go far enough. that is the situation right now. we expect the committee to vote this afternoon. we will get our first test of whether or not this legislation truly has bipartisan support and whether this becomes the main vehicle for cyber security legislation in this congress whether or not this is something the white house could accept. cory: privacy advocates have weighed in.

let's bring in our chief washington correspondent peter cook, with the early details. let's the honest, how are they going to do this? peter: they're not going to do it in 10 years, they're going to do it in nine years according to the budget plan unveiled today. this is not going to be law but it is setting out the republican priorities at least on the house side for spending going forward. in contrast with what the president has forward rate they're going to cut spending over the next 10 years by $5.5 trillion to achieve that balance by 2024. major changes repeal of obamacare is baked in, that would save $2 trillion on its own. major changes to medicare medicaid, and the food stamp programs. medicare would be partially privatized, the savings there would be about $458 billion. defense spending would be maintained. tom price is trying to appease everyone, sue he is adding a wartime spending budget. that will be the source of new funds for the military to go above and beyond the sequester cap. already being accused of using gimmicks to get to his numbers. stephanie: wha

peter cook is that our news bureau in washington. give us the update on what we are going to observe at 8:30. peter: what is going to happen this is the first time that this has happened in my covering the jobs report but because the federal government is delayed for two hours this morning, that means that folks at the labor department who normally would be in the office and giving this report to those of us who are reporters covering it at 8:00 in a closed, locked room and then we release that information at eight: 30 they are going to post this information live online at 8:30 to the website and that is when we will get this information. it may not be precisely at 8:30 and it may dribble out over time, but the goal is to post it as close to them as possible and we will be looking at it just like everybody else. olivia: fortunately, you did make it into the office through the snow. walk us through the forecast. peter: the forecast for the jobs report and i can tell you it is 12 degrees outside i used to do the weather, too. we will li

peter cook has more on the proposals and why they matter. republicans are they on the same page or is there a war going on? peter: the early indications are not good. there is clearly a division. it gives republicans a chance to highlight spending priorities, point out differences in the plans and we are seeing some splits within the republican ranks before the plans go public. tom price replaced paul ryan this year. some key components of the price plan borrow from paul ryan's past proposals. he will need to find $5.5 trillion in savings. he anticipates a repeal of obamacare. there are some 70 republicans in the house who have signed a letter saying they cannot back a budget resolution that maintains the current defense sequester cap. there are several who want to see the cap stay in place. betty: defense spending is one area to watch. one big area of contention. what else? peter: you will look for price to offer more defense dollars but outside the days budget. some are going to call that a gimmick. democrats looking for the domestic and en

peter cook is on capitol hill with more. let's begin with the question. did they cross a line?edent for a letter like this being sent to a country like iran? >> not that i am aware of on capitol hill. i can assure you that is the view of the white house and a lot of democrats are in congress. even some republicans, there are questions about whether they did more than just state a case against these negotiations. did they cross the line? did they undermine foreign policy? those debates usually and at the water's edge. there were strong words from the white house calling it reckless and misguided. the strongest words came from a veteran of the senate, the vice president. he said late yesterday that this is the need the dignity of the senate. this is a highly misleading signal. some really strong feelings on capitol hill in washington over what has happened. i can tell you that republicans who signed the letter are feeling justice wrong this is their opportunity to try and erase questions about this deal going forward. they want to make it clear that if congress does not sign off

let's start with peter cook. is there any reason to think speaker boehner will have more luck getting it passed this week? >> i think it will be a lot of instant replay this week. it was a rough friday for john boehner. you could be another very rough friday for john boehner. he has the problems and divisions in the house republican congress. his options are to do a short-term bill or finally acknowledge reality, throw in the towel, and pass a full funding bill for the department, security that does not touch executive actions. he is likely to anger conservative critics in the conference again and raise questions about whether he can hold the group together for bigger fights to come. the debt ceiling, the budget, even highway spending at the end of may. >> peter, it is hard for people outside washington to appreciate just how tense things got on friday. even if this does not come to a head later this week what does that say about boehner's staying power as we head towards other showdowns? >> here is the reality.

scarlet: peter cook, this was back in september of 2012. the leak happened in october of 2012. did it take so long? peter: the investigation happen right away. everything has been private. lawmakers are trying to shed light on what happened, and this is part of a larger effort to expose the fed to more scrutiny up on capitol hill. scarlet: coming up -- thinking big. the country's largest mobile operator wants to get larger and it's not likely to take no for an answer from a rival it wants to buy. ♪ scarlet: the number three mall operator in the united states has rejected a $16 billion hostile takeover bid from simon property group will stop the battle is just beginning. our next guest says he's expecting a higher bid from simon. he says everything is for sale at the right price. mace rich adopted a poison pill. but this is just defensive posturing. it still wants to get the higher bid. >> we don't know their intent, but they are putting up all the defenses to give themselves some time to evaluate their options. joe: you always read about how malls are dying. why is there so muc

peter cook reports from washington. r: the fed open the door to a interest rate increase, but also signaled they will go slow when liftoff occurs. this demand came in the latest policy statement when they dropped their pledge in being patient and said they will move when they have seen further improvement in the labor market and are confident inflation is moving back to the 2% target. yellen clarified the timing. yellen: we are seeing an economy growing up above trend. the labor market is improving. some of the headwinds that have been holding the economy back are receding which is reason the committee wants to evaluate incoming data and consider when it may be appropriate to raise rates. peter: she stressed that means a rate is not a lock, only that a rate increases possible. the median forecast for the fed funds rate increase is well below the december forecast. that suggests the fed is in no rush. it depends on the data. yellen: we cannot and should not provide certain teepee ty because developments are uncertain. pet

i want to go to peter cook. wages are still key problem here. a key problem and we are not seeing the kind of growth in wages that the fed has been hoping for and a lot of americans have been hoping her as well. the headline number better than our survey of bloomberg. and it is the 12th straight month above 200,000. we have not seen a street like that is 19 and he five, and the unemployment rate dropping to five 5%. why did it drop? because they were fewer folks -- more folks going back and getting jobs and the number of unemployed fell at the same time. the participation rate also falling down to 62.8. that is also somewhat of a cause for concern. let's talk about the wage numbers, though, because that is such a big focus right now. wages are up 0.1% our -- average hourly earnings. betty: peter, thank you for those highlights. we will talk about that more through the opening bell. and we are under 30 minutes to the start of trait. joining me today is bob henry and also olivia sterns. let's start with apple, which we just heard is going to be jo

peter cook is on capitol hill with the details. . ter: i'm a little leery after reading these details, and that is the way the budget process works. last time around, chairman price took over this year and we have within his plan any controversial ideas we have seen in past volatiles. under the new plan, once again the balance of the government would be balanced on the books within 10 years, by cutting $5.5 trillion over the next 10 years. there would be savings of $2 trillion by repealing the health care law in full, there are also major reforms to medicare, medicaid, and food stamps. privatizing medicaid would save as well. the spending caps would stay in place from sequestration. defense spending increases from other parts of the budget. >> our budget, a balanced budget for stronger america is a path forward to that brighter future. a government lives within its means, where washington is more efficient, and effective and accountable. peter: they had a very different take on this proposal. the president earlier today saying that th

peter cook will watch. 1600 pennsylvania avenue. let me cut to the chase. has washington ever seen this? peter: not since i have started covering it. the divide between israel and the united states over the speech by benjamin netanyahu israel, despite efforts to reconcile those differences. president obama is making efforts to reach a deal with the iranians. netanyahu said he needs to warn about the risk to israel and the united states from such a deal, but is not trying to disrespect the president. >> the last thing anyone who cares about israel, the last thing i would want is for israel to become a partisan issue. ira grad that some people have misperceived my visit here this week as doing that. israel has always been a bipartisan issue and should remain a bipartisan issue. peter: we will see what happens after his speech. there are tensions here. not everyone on capitol hill feel good about the relationship. brendan: let's stay on the theme of bipartisan. 50 congressional democrats not attending this speech. what are they telling you? what is the story? >

bloomberg correspondent peter cook reports on the homeland security funding bill and what it means for

peter cook has more. peter what kind of progress might the administration make today?: some progress on capitol hill trying to sell the authorization for the use of force to a skeptical congress. it appears they still have some work to do. specifically the president faces skeptical democrats, who thinks the authorization may be too broad when it comes to the role of u.s. forces. skeptical republicans on the other side think that it is too limiting, tying the president's hands. today members of the administration tried to ease those concerns, ash carter saying that the language gives the military the flexibility they need and martin dempsey said that it was suitable for the mission a hand. john kerry said that the momentum of isi l is being diminished. >> the president already has statutory authority to act against iso--- isi l. at this moment in time this would dispel doubt that might exist anywhere that americans are united in this effort. >> more of a sales job will be needed for the nuclear talks are ongoing with an expanded influence in iraq. he got into it with ma

peter cook is tracking the latest for us. are we any closer to an agreement? peter: it depends on who you are hearing from you at optimism, pessimism. there are clearly still differences. some talks of a deal on sunday. that obviously did not happen. you have secretary of state john kerry not to come back for an event in massachusetts. at the same time, you have the russian foreign minister the talks today to go back to moscow for a previously arranged meeting of his own. he is prepared to go back should a deal emerge in the next few hours. betty: the biggest sticking points are what? peter: first of all, the pace of any sanctions relief. iranians say if there is a deal they want economic sanctions lifted as quickly as possible some suggesting immediately. that is not going to happen. the question is the pace after that it also, going forward on the nuclear side. how much ability will they have to work in the nuclear area for medical research. another sticking point that has emerged remains what will happen to their enriched uranium. will it go to a third-part

. >> back to the supreme court now, peter cook has just left the room.ening to the first hour of argument. any hints from the justices what they think you com? >> interesting moments in the courtroom. tension and humor. both sides being represented with funky humor. in the room itself the moment came from justice anthony kennedy. potential swing vote where he challenged the lawyer representing the plaintiff michael carbon, on central issue that if the government did not intend to provide the subsidies to everyone across the country, including those benefiting from the federal exchange when the law itself all apart, a punishment to those states that do not set up their own exchanges? a constitutional argument that even the government it will did raise. he said your argument raises serious constitutional question. this is an element to a debate we had not yet heard. something justice kagan also jumped in on. as to the argument, those supporting shooting down the law, michael cardigan said this is a straightforward case. he had barely gotten those words out

peter cook brings wisdom from washington.ate as we go to these hearings what do these judges do in the arguments? how do they respond? do they sit like cement blocks or engage with the two attorneys? peter: they engage unless you're clarence thomas and don't ask any questions. there is direct level of engagement. there are direct west. the -- they cut them off. and these are experienced attorneys. they've been there before and know what to expect. what is one thing to expect watched the body language. brendan: they tailor their arguments to individual justices. they know what can be one with individual arguments. peter: i think it's it to say the most important player in this, as with the health care law, chief justice roberts. he was the deciding vote. they got to be targeting him because he was the potential swing vote. he's on the fence, at a minimum. the key question here as we talked about earlier, these four words in the law -- did congress truly mean that only people who established state-based exchanges, that only the

our chief washington correspondent, peter cook, is standing by with details. >>

and peter cook is covering president obama and the commander in c

bloomberg's chief washington correspondent peter cook is at the white house with more on a congressionalo

peter cook has more on the story. good afternoon. peter: the fallout does continue. coming with an interview that is airing monday. the president was asked about the letter to iran's leaders that calls and question whether congress would honor any agreement. he said he is embarrassed for the senators who signed it adding -- president obama: drafting a letter to the ayatollahs of the claim is our mortal enemy and saying do not do with the president because she cannot trust him to follow through, that is close to unprecedented. mark: the letter continues to face criticism here in the u.s. and abroad as well. this is the front page of the new york daily news. the letter fuels mistrust and is not helpful to the talks that is resuming. he says the letters will make an agreement in a more difficult to reach. mark: they are not signing -- showing any regret? >> they have been surprised by the backlash. their larger point, we talked with wisconsin senator ron johnson. >> there is no good deal under this circumstance. we need to impose greater sanctions. that is what rot iran

thanks to you and peter cook, our chief washington correspondent. we will get back to them later today. matt: earnings season kicking off next week. corporate profits might fall. this will be a bad sign for the future of the bull market. could be the beginning of three consecutive quarters of falling profits. olivia: james bond enters the 21st century and so has aston martin. will talk about 007's latest wheels. and a palmer joins us here -- andy palmer joins us here on market makers. ♪ olivia: welcome back to market makers. time now to bring you up-to-date on the top stories we are tracking this morning. regulators have deposed jp morgan executive as part of an investigation into the bank's asset management unit. people familiar with the matter say thousands of pages have been subpoenaed. investors want to know whether j.p. morgan executives and steered clients into investments for the bank's own gain. turkey authorities are invest getting the biggest power failure in 15 years. the blackout lasted three hours and stretch from the border with iraq a

peter cook joins us now. talk to me about what happened to this vote. 14-1 sounds like it's bipartisan. what are we going to hear? peter: it is bipartisan, and that vote total is a big deal here in washington. this is a significant step forward for this bill. we've been fighting here in washington over cybersecurity legislation for several years now. democrats and republicans agree there's need to bolster the nation's digital defenses but haven't been able to agree on a bill to do that. this bill may be the single best chance in some time to be able to do that. this vote reflects that. this bill would allow the private sector to share threat information with the government in realtime and vice versa. the government could share information with companies and there would be legal protection for the companies for the first time. that's the single biggest component for this bill for the business community going forward. there have been concerns about privacy going forward. some of those have been addressed to the