there is a powell memorial off to my side, a memorial to john wesley powell. he was the first river explorer here, back in 1869. and he was a passionate geologist. he just wanted to come out and explore the canyon's geology. a teacher at illinois wesleyan university and didn't get much support from the federal government. most explorations of the west were federally sponsored because they had national import, hopefully they would bring back new territories or economic resources or new transportation routes. and the nation wasn't convinced the grand canyon was worth all that much, so powell got almost no support for his expeditions of you put it together on his own. he had nine other crew members to start out with, and some got disgruntled along the way and left. there was a controversy about that because there is a plaque on the memorial and three names were left off, they did almost all of the trip but at the end of the trip they decided they had enough so they walked off to the mormon villages in utah and were never seen again. and one of the people who orga

had a greatr powell way of conflict avoidance. way, it is a meaningful, tubing. .- it is too at somebe signaling level that they expect this to and not soon and they are going to hike through 2019, but at some point, they are going to stop hikes. the stocks have given up their gains and turned negative for the s&p and thedow. me -- for me in the press conference, we rolled over to the kevin warsh article. there is the s&p down and the negative territory, but bring up the wall street journal. this is been the theme of the hour. been pushed beyond its practical utility and a boom is not a time for triumphalism. discuss. >> this means we do not know where our star is. tom: we do not know where we are. >> it is not decision to use this as a meaningful guidepost. useful academic exercise but not meaningful. >> you heard it reiterated. >> this is the challenge of trying to go to a rules-based system. members of congress always ask the fed chair, when are we going to have a role system and you cannot because of what carl said. tom: this

powell: ok.erms 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 and down our hall built. did has been pretty quiet. more quieter than usual, which is saying something on the board all. we are forward to getting some people confirmed. in terms of corporate debt, this is -- i was an investor for a long time in areas that were very close to the leverage lending markets. i have not had a lot of experience. the market has evolved the differently since before the crisis. and, you know, the banks take much less risk than they used to. essentially in the business of distributing biz loans and bonds rather than keeping them on the

chairman powell, i think is this too good to be true?ause you have four years here of unemployment below 4%, very low, substantially below nehru, what appears to be below nehru, no reaction of inflation there so i don't think that happened since the 1960s, why do you think it will happen now, or in the alternative is this forecast for unemployment driven by your confidence intervals, to the extent we don't know what else to do but just extend the line out until something happens? >> you're right, the committee forecasts, what they show in general is an economy where unemployment remains in high and middle threes throughout the entire forecast period and inflation remains very close to 2%. that is what the forecast shows. and that is based on our understanding of the way the inflation process works now on, the fact that the inflation seems to be fairly non-reactive to changes in slack. i say a flat phillips curve and it's a world of strongly anchored inflation expectations and that is not just our forecast, that is many forecasts. so that

this is the original sheet music and it is signed by felix powell here, my grandfather.amily archive of the powell brothers' achievement still survives but the success of the song was also tainted by sadness. i'm very proud of my grandfather's work and i think he would be proud, too, to think that 100 years on, that this song was still so iconic. however, i think he felt guilty about the song because he'd seen, at the front line in the first world war, so many soldiers marching to his songs, going into battle and dying. i think that affected him greatly. a veiled smile, composed byjonathan guy and conducted by his brother robert, will be premiered in the cathedral tomorrow night, taking the story of the powell brothers to a new audience. sian lloyd, bbc news, st asaph. now on bbc news, it's time for the film review. hello, and a very warm welcome to the film review on bbc news. to take us through this week's cinema releases, as ever, is mark kermode. hello, mark. hi. what have you been watching? it is a very good week. we have the the wife, which is a drama starring glen

bill lee, first off to you, what jumped out at you with powell?ention tariff wars when asked, and what he is starting to see? he called it a chorus of concern. >> right the chorus of concern is just noise. he is not seeing real effects on the economy. that is really the key of the honesty and pragmatism -- liz: then i misheard. he said he is hearing news of disrupted supply chains and higher material costs. he did say we're not there yet when it comes to ding of confidence for business. >> precisely. that means the real actions they take in anticipation of more tariffs isn't there yet. what the markets are really seeing, interest is a new trade regime that the u.s. and china will negotiate as soon as we get to the table. chairman powell is being pragmatic, there could be a lot of good things come out of this, taken away the word accommodative, he wants you to know we don't know where accommodative is. don't hold us to decimal points that is the message of the new chair. that is the best thing the markets have. overprecision what markets traded aga

chairman jerome powell called theon economy s and says he is not concerned about inflation. the upbeat outlook led the central bank to increase the forecast for growth this year andsf next. eef liesman is in washington with moren the decision. >> reporter: the federal reserve raising interest rates by a quarr percentage point as expected to a new range of 2 to ng another ut signa rate hike is coming december. fed chairman powell was clear why they were taking theoue of action. >> you're economy is strong. growth is running at a healthy clib. unemployment is low. the number of people working is rising steadid. wages are up. inflation is low andl stable. f these are very good signs. >> reporter: amid expectations for the good times to continue fed officials on average forecast the rates raise another 75 basis points next year and finish above 3%. but powell said there areouisks there to raising rates and risks to not raising rates. >> if we move too quickly we can snuff out a recovery unnecessarily. and inflation falls short o the 2% target. or if we move too slowly we have an

look when you add in tariffs if they just keep piling on chairman powell is like a pilot. a good pilot doesn't want to crash the plane in order to land but a lot of wall street guys don't believe that's even possible they think we'll have a slowdown when that happens hedge funds swap out of the industrials that need a healthy economy to thrive, in other words, their stocks will go higher and instead put the money into health care stock, a group that's relatively held up nice but this is a real issue even powell acknowledged the consumer spending could be hurt by the rate hikes and the president's tariffs. that's not great and that was before we had this new canada wrinkle. however, other managers are cheering for an agreement with powell they're buying technology stocks, they're buying the retailers of all things more on that later in the show and transports like united continental. more from them later in the show and anything doing well of late because they think it's business as usual this is in the fed we trust camp that got overwhelmed of course, there are few manager

also slightly lower on the dowjones as well, this was off the back of comments from jerome powell, the year and three times next year. that is the speculation. up next, newsbriefing. but first a coalition of leading conservation groups have called on the government to guarantee the protection of britain's national parks. the organisations say they are alarmed that they could now be considered suitable places to bury nuclear waste. he is our environment correspondent, claire marshall. this is the controversial new power station being built in somerset. it will also produce radioactive waste that will stay active for many thousands of years. these old, rusting tanks hold old radioactive sludge. 30 years since the old station closed, no one has managed to get rid of it. currently, the uk gets around one quarter of its energy from 15 nuclear reactors but the question of what to do with the waste is still unresolved. the only permanent solution is seen as deep geological burial. the government select committee has said that the safest side should be chosen, no matter where it is. this could

jay powell said that wasn't such a big deal. think about the rest of the world here especially with long-term bond prices. that just doesn't stay alone. so i think the nothing really inconsistent with the short rate rise and back off on the long. lauren: john, why do you think they took the word accommodative out? do you think they want to give them freedom not to telegraph what they're doing so well because this rate hike today was baked in? >> it is baked in and looks like a few more are baked in. i think that is good. they're being predictable, not trying to surprise the market. removing that word, been there so long reflect as different era. they're trying to normalize policy. i think they're doing it in reasonably predictable way so people know what they are going on. so the word accommodative is becoming less meaningful. that is why they took it out. melissa: if you could advise chairman jay powell right now what would you say to him? in this trump trade environment what would you say to him? >> i think they're continuing

here's what jay powell said about why they did it.the fomc statement likely noted the committee dropped a sentence that indicated the stance of monetary policy remains upon -- accommodative. this does not signal any change in the likely path of policy. instead, it is a sign that policy is proceeding in line with our expectations. reporter: and bonds did rally because they assumed if the fed drops the stands, they might be more aggressive with rate hikes, but jay powell says we don't need any longer, it doesn't make sense, the fed can raise rates are lower than more quickly or slowly. it will depend on the economy. of course, he did say there's a rising chorus of complaints about trade and tariffs that could affect the economy. there's a tricky path ahead. they have to get to normal policy and not cause a recession. that is the big challenge now. and do it all with the ire of the president, it seems. we will talk about that in just a moment. i want to bring in stanford university economic professor john taylor, former undersecretary of

jay powell and theresa may speak.ay the jobs report just around the corner as we wrap up the end of september and the third quarter. still with me is diana amoa, scott thiel and colin robertson. london as we wrap up the quarter. this is a really interesting quarter for credit and an interesting year for credit in the united states. high-yield really outperforming. scott: it is interesting to note if you look at the ratings structure and the high-yield market, the lower quality, the triple c's are now double b's. it has really widened relative to i.g. that is obviously consistent with economic -- positive economic activity, payable financing rates, stock by that's -- stock buybacks, etc. that's an interesting divergence between em market in the high-yield em market. jonathan: this is where you specialize in spend time looking at stuff. the third quarter has been brutal for emerging markets as people wake up to the idea it is not idiosyncratic and there is something broader happening here. mena: it's interesting to and

jerome powell's of the american economy is a, but acknowledged that challenges remain -- jerome powell said the american economy is strong, but acknowledged that challenges remain. property prices skyrocketing. a london-based bank boosted its best lending rate just hours after the hong kong monetary authority raised its benchmark interest rates by 25 basis points in line with the fed. u.s. supreme court nominee brett kavanaugh has been accused of the most lurid sexual misconduct yet as senate republicans press ahead with lance to hold a hearing. part accuser says he was of efforts to get girls intoxicated so that boys could have sex with them. kavanaugh rejected the claim as ridiculous. at the same time, president trump dismissed the allegations as a big, fat con job. south africa's president has said his administration will pursue plans to redistribute land to the country's black majority. in an close of interview, cyril ramaphosa said he is considering whether a constitutional amendment is necessary to make it easier to -- property without compensation. >> what we are looking to do i

chairman powell said we could see a loss of business confidence from tariffs.rs change if we continue to not have a deal with china and instead have more escalation and more tariffs and by when? >> so our expectation is that we will probably see, you know, some further escalation. there's already some escalation that has basically announced an increase in the tariff rate on the 200 billion and we think there's a reasonable chance, maybe more likely than not, that you also get additional tariffs on the remaining imports from china. >> will that slow the economy? >> we don't think that it's going to be a big drag on near term growth? it's sort of the question of what it does to, you know, longer term, you know, living standards, and on that we very much agree, that you know, big trade barriers over the longer term are going to be detrimental to living standards, but whether it's so much of a negative impulse in the short term is still the question chairman powell touched on some of these in the press conference as well. it is a risk fanned there was a significant

plus, fed chair jay powell and u.k. prime minister theresa may speak.friday, the jobs report just around the corner as we wrap up the end of september and the third quarter. still with me from jpmorgan is diana amoa, scott thiel of blackrock, and colin robertson from northern trust asset management. he let's start in london as we given let's start in london as wrap up the quarter. good. this is a really interesting is quarter for credit and an interesting year for credit in the united states. high-yield, really outperforming. what do you make of the u.s. credit? scott: it is interesting to note if you look at the ratings structure and the high-yield market, the lower quality, the ccc's have compressed dramatically to now bb's. it has really widened relative to i.g. that is obviously consistent with positive economic activity, still favorable financing rates, stock buybacks, etc. but to me, that's an interesting diversions between the high-yield part of the em market and the high-yield em market. jonathan: this is where you specialize and spend time look

jay powell said the u.s. is in a bright moment the challenges remain. >> our economy is strong, growth is running at a healthy clip. unemployment is low, the number of people working is rising steadily, and wages are up. inflation is low and stable. all of these are good signs. that is not to say everything is perfect, the benefits of this strong economy have not reached all americans. nejra: following the decision to hike, presidential made his feelings clear. president trump: unfortunately, they raised interest rates. i am not happy about that. debt, orather pay down do other things, create more jobs. toare worried that they seem like raising interest rates. nejra: joining us now is peter dixon, global equities economist, commerzbank. good morning. markets areisk that still underpricing what the fed can do in 2019? peter: markets are beginning to move slowly. i think it is a long way to go before they matchup. the fed may be overly aggressive, but i guess the economy has momentum and will grow rapidly for t

were commissioning hypnosis to design their album companies like peter gabriel and black sabbath powell and designed over three hundred album covers in them under the studio. we were. going to do a picture of a rock n roll. bands like floyd they have created that and said we don't want a picture of us on the front cover we want something interesting we want something different. they didn't think about a commercial aspect they had no interest in that at all they wanted something that was important creatively some creations proved unintentionally provocative like this. album love drawing. and the one nine hundred seventy three figures on led zeppelin's house of the holy proved too much for something when it was hugely successful nomination program e and all that sort of stuff but the middle america. christian fundamentalists they said oh you have to put a stripe across children's bottoms so we put a japanese piece of white paper to cover it up with a name that. is it a photo montage or a real picture of the graphic designers love to play with perceptions and bands paint them. one of their

president trump says he is not happy with jerome powell.he would welcome the u.k. back to the u.k. -- back to the eu with open arms. for the rest of europe, and our special relationship, for friends in the u.k. for sure.

plus, fed chair jay powell and u.k. prime minister theresa may -- u.k.me minister minister theresa may speak. on friday, it is here already -- the jobs report just around the corner as we wrap up the end of september and the third quarter. still the three from -- still with me from jpmorgan asset management is diana amoa, scott thiel of blackrock, and colin robertson from northern trust as it management joining us out -- asset management joining us out of chicago. let's start in london as we wrap up the quarter. this is a really interesting quarter for credit and an interesting year for credit in the united states. ig investment-grade really underperforming. high-yield, really outperforming. what do you make of the dynamic of the u.s. credit? scott: it is interesting to note if you look at the ratings structure and the high-yield market, what has happened is the lower quality, the ccc's have compressed dramatically into bb's. in emerging markets, the high-yield or sub investment-grade has really widened relative to i.g. and so what is happening is it is

powell does not agree. what is the reaction? >> this is not the first time president trump has publicly criticized the fed. he is breaking with tradition of respecting the central bank. six rate hikes since he has been president. i was sitting with carol brown yesterday after the decision. she said what gina said to it was not a surprise. bond deals several before the end of this year and this will not have a significant impact. alix: is president trump creating a scapegoat. all of a sudden you are up for reelection. i told you. >> to be frank, they have this dual mandate of keeping unemployment low and managing the inflation outlook. we have had faster than expected growth this year, so the fed is doing what they need to do to satisfy the dual mandate. i don't know if president would like them to drop the insertio n component or not. frankly, the market was expecting an interest rate hike. i would not suggest what the fed is doing will have a material consequence on the equity market or the economy, but you are right. may be go

fed chair powell getting ready to hold a news conference now. bring in jeb in texas, he's the chairman of the house financial services committee >> let's talk about trade and work our way back to the fed if you want to come along, canada, come along you have been outspoken about your concerns about tariffs, which you see as taxes simply put >> indeed, i have been concerned, because i believe that for most americans, they're enjoying the best economy of their entire life. tyler, i'm heartened by the fact that we seem to have now a truce with the eu, i'm heartened, but we haven't seen the text the fact that we seemingly now have a handshake agreement with mexico, i believe it's important that canada be a part of that, i must add mid also having returned from china, that's where our problem is, there's a serial violator of the wto, they're still taking our technology our intellectual property by hook and crook, i've encouraged the administration, let us focus our resources, first in dealing with china. that's the most important thing to do. >> ther

and before that busy season, and switch to the easterly block, between powell and mason. the reason for you doing that one during the busiest season is through a recent private project development, they rebuilt the sidewalk in there to the specs of jefferson street roadway, so it lessens the impact of the retail, because it's on one side of the street there. the third block would be between mason and taylor and that's done in the winter of the following year or the off-season. we don't have the exact timing yet. as i say, the exact schedule -- intersections would be closed one at a time, as they may need to be to handle the utility upgrades and other such things. schedule and how it's handled it an evolving process. it's why the meetings are happening. public works is leading the effort to do that. if you desire, we can speak about that further. discuss the commission actions. in 2012, the commission approved phase one. in doing so, approved changing the street from a one-way street to a two-way. it's much more logical as a two-way street for a street that's just a main s

so powell did succeed and he went back to washington and became a pretty important national leader. became head of the us geological survey for some years and founder of the euro of methodology which is the study of native american tribes, probably more sympathetic to native american tribes in that area in the late 1800s than many americans were. he bought their cultures were interesting and their languages are worth preserving. a lot of themwere already starting to disappear . but powell's biggest contribution in his washington career was that he founded a warning about our future national growth and our patterns and our assumptions about national growth. americans always had a sense of destiny about settling the frontier. it was a god-given domain for the settlement to become prosperous and the settlement patterns that have worked in the east, the homestead act gave out 160 acre farms to anybody who could claim them. and a lot of that was very successful but powell saw when he came out to explore the colorado rockies and the southwest in the 1860s, he saw that wasn't going to work

powell was raising interest rates. but when the economy has been strong, raising interest rates is what you do to make sure that a strong economy doesn't overheat and cause inflation and turning to something dangerous. >> a clash between powell and trump ahead. >>> an alarming new study finds climate change ravaging our national parks. scientists from u.c. berkeley and the university of wisconsin found by the year 2100, joshua tree national park could lose 90% of its namesake trees. the risk of wildfires in yellowstone could increase tenfold, transforming the park into scarred grasslands. >> ice sheets in the north are expected to melt and flow into the sea, eventually making glacier national park's name obsolete. researchers observed data between 1895 and 2010 and concluded temperatures in national parks rose twice as much, and precipitation plunged compared to other parts of the country. >>> nfl history about to be made in the broadcast booth. hannah storm and andrea kremer will be the first all-female nfl broadcast

when she regained consciousness she told police powell was sexually assaulting her. she says she managed to push him out of the car and drive to a nearby hospital. powell was arrested at his job in palo alto yesterday and is being held without bail. >>> dublin police investigating an anonymous threats at dublin high school. the school district says the threat mentioned harming students at the school on october 1 but no other details were given. police say there will be extra patrols near the school. while the threat is being investigated they are asking people to report any suspicious activity. >>> a man behind bars after a back pack containing a fake pipe bomb led to the lockdown of a school in piedmont. police received a call of a suspicious person around wildwood elementary. they discovered the backpack on a sidewalk work -- sidewalk. police later arrested a transient. police found an unloaded gun, two switchblade knives, and a fake pipe bomb in that bag. >>> a father from modesto facing charges for forcibly taking his six-year-old sun from the boys mother. 41-yea

to powell -- disloyal to powell, and they were a hero worshiper, so they decided they did not deserve to be on the plaque. anyway, powell did succeed and went back to washington and became a pretty important national leader. he became the head of the u.s. geological survey for some years, and the founder of the u.s. bureau of ethnology, which studied the native american tribes. powell was much more sympathetic to native american tribes in the late 1800s and most americans were, so he thought his cultures were interesting, worth studying, and their languages were worth preserving for a lot of them were already starting to disappear. so his biggest contribution in his washington career was that he sounded a warning about our future national growth and our patterns and assumptions about national growth. americans always had a sense of destiny about settling the frontier. it was a god given domain for us to settle and become prosperous, and the settlement patterns that had worked in the east, mainly the homestead act, gave out acreage, 160 acre farms to anyone who could claim them, and a

joining me now former federal prosecutor author of license to lie, sydney powell. you with us. your reaction to this effort by twitter. to decide what is free speech, and who is deserving of respect. >> tweeter seemings to have a serious problem with first amendment. and not only that but title 8 of u.s. code of that includes word alien throughout it in describing people that fall under the category of several different federal statutes, and uses term criminal alien as you mentioned, unauthorized alien, this is not discriminatory, i have been trying to figure out what we might call them they might like better, so far i have come up with -- what is it. >> the newtion from planet venus. lou: i don't know if that would work, but i don't want twitter or feation booker on anyone telling me what i can say, and let them determine what is my intent, and what is my first amendment right. i mean they twitter is trying to make the case for regulation of twitter. that is a shame as well. >> they are silencing a lots of conservatives, this is serious. i have been shadow banned

david: we take up the doj and fbi in action with sidney powell fbi in action with sidney powell coyourornings were made for better things, than psoriatic arthritis. as you and your rheumatologist consider treatments, ask if xeljanz xr is right for you. xeljanz xr is a once daily pill for psoriatic arthritis. taken with methotrexate or similar medicines, it can reduce joint pain... ...swelling and significantly improve physical function. xeljanz xr can lower your ability to fight infections, including tuberculosis. serious, sometimes fatal infections, lymphoma and other cancers have happened. don't start xeljanz xr if you have an infection. tears in the stomach or intestines, low blood cell counts and higher liver tests, and cholesterol levels have happened. your doctor should perform blood tests before you start and while taking xeljanz xr, and monitor certain liver tests. tell your doctor if you were in a region where fungal infections are common and if you have had tb, hepatitis b or c, or are prone to infections. xeljanz xr can reduce the symptoms of psoriatic arthritis. don't let a

. >> speaking of prolgts protests and admonitions a look at fifth and powell -- powell and market in san francisco where anti-judge kavanaugh protesters are set to begin the demonstration in a few minutes process. earlier today more than 100 protesters gathered outside the san francisco headquarters of democratic senator dianne feinstein. protesters called on senators to vote no on judge kavanaugh and plauded news of the one-week delay. >> moderates honked in support of the demonstrators protesters we spoke to are i of allowing the fbi to investigate dr. ford's accusations over the next week. >> i'm hoping that it takes as long it needs to take to do this investigation with the fbi. >> i also think it's bad in the sense that we have to go through an fbi investigation because we are now believe dsh zbloosh again another protest set to begin in 25 minutes in san francisco starting at 5:30. people around the country are reacting to today's surprise move by republican senator jeff flake who demanded the fbi investigation take place before a full senate vote. the hashtag kavanaugh hearing

powell is the right guy to be doing this because he already has decent experience in washington? is one of my favorite points, with my colleagues wrote. he is uniquely positioned as a creature of washington dc to deal with this era in history. president donald trump has been attacking the fed that is unprecedented in recent years, basically since the clinton administration, we have seen presidents shy away from talking about the fed. he tweets about them, talks about them, he is quite negative about interest-rate increases. jerome powell is a good person for ambassador to congress because he is been working washington for decades. he went to georgetown law school. he is not a phd economist and knows how to play the political game. he talks like a normal person, onky economist. like there is a dangerous game, in the first six months of office jerome powell called on lawmakers 48 times, 28 democrats, 21 republicans. bipartisan that way. when they say things to him, what is his response? is he not opening himself up to access? reporter: that is an interesting question. we have seen

a test of jay powell, especially in that press conference. a test of his ability not as a big central banker but as a politician, how he manages that. stayed out of the spotlight by not reacting to what trump has to say. >> this will be the first interest rate increase since the president went public with his displeasure of what the fed is doing. it will be the first time when powell publicly will be pressed to respond. how he responds, how he does that. does he dismiss it? does he say, the president can say what he once but we are going to do what congress has told us we should do and follow our mandate. it will be quite interesting how he does the delicate dance so he -- offer himself up as a punching bag for trump. >> i love the way your story starts. you take us back to july when president trump gave an interview and was critical of the fed. was on capitol hill talking to lawmakers and talking about what the fed is doing. you talk to him about being a politician with a little p. he understands government, he is not an economist. not a pol

although mr powell said he wasn't yet worried about the prospect that president donald trump's tradewth here, he did issue a note of caution. trade generally supports productivity, higher incomes, and fair trade, fair supports productivity, higher incomes, and fairtrade, fairtrade under internationally accepted rules, can be a good thing. i think if this preps inadvertently, a ghost ora if this preps inadvertently, a ghost or a place where we have widespread tariffs that remain in place for a long time in a more protectionist world, that will be bad for the united states economy and american workers and families, and also of other economies. but for now, mr powell on the central bankers in the building behind me are in an enviable position. they stand far removed from a fractious political environment and emerging market turmoil, and they can focus just on one task, to make sure that interest rates here in the us are not too high, not too low, butjust right to keep the us economy humming along. what a job, keeping the us economy humming along. joining us is russ mould, investment dir

what do we expect jay powell to say?ng draghi on trade and how much will they say about trade when they wrap up the two-day meeting? kathleen: i think he'll be asked a lot of questions, rish, at the press conference after the meeting. what reporter isn't going to want to know how are you going to stay on a rate hiking path if trade intensifies, if this war intensifies, if it creates volatility in markets and maybe slows down the economy as well. interesting though. with the september rate hike that is expected, another 25 basis points, the fed funds rate will move above the u.s. inflation rate, the target for the first time since 2008. back into bloomberg with me, look at this chart and you can see the two key measures of inflation. the headline number, the turquoise line, yes, above 2%. the core measure on the p.c.e. deflator right at 2% right where the fed wants to see it. there is also an interesting angle. even though inflation is barely 2% our bloomberg economics team is going to argue we'll see a hawkish chill from

he in england said he was an enoch powell of ourtimes.l of our times. he is a database. he is was been a database. —— nativist. because of the way it has been mishandled the situation will create further flames. do people around the table echo the point that the labour party has allowed the row about anti—semitism to carry on for too long? we have all been talking about this for a good few months now. it is a distraction, isn't it? the frank field of who you speak is not the frank field line although i do not know him personally. it is not the frank field deeply respected by the many people who are them in parliament. for eight years he sent e—mails.... he is against immigrants. a broader point about the state of the party. someone who came to his understanding about what underlies the founding of the state of israel in the television series which is about 14 or 15 hours and akin toa which is about 14 or 15 hours and akin to a deep understanding. and the poor understanding. i understand there is such sensitivity. they need to make sure th

powell says we're the fed. do politics. >> he is not fazed at all. >>> one day after he said he has great respect for chinese president xi jinping, he said china is meddling in the u.s. elections. what exactly is the evidence here? sooner or later, we all sign up for medicare. figuring it out... not that fun... and like my dad, you might want medicare supplement insurance, too. uh oh, more research. no big thing. not with this website. unitedhealthcare insurance company created aarpmedicaresupplement.com to help make your decision easier.. with answers to important questions about aarp medicare supplement insurance plans, insured by unitedhealthcare insurance company. like how this type of plan, also called a medigap plan, helps pay for some of what medicare doesn't. and how aarp medicare supplement plans are the only ones endorsed by aarp. selected for meeting their high standards of quality and service. and check this out. all you do is type in your zip code... and find rates for the aarp medicare supplement

and this will be the first time when jay powell will be publicly pressed to respond.o how he responds, how he does that, does he dismiss it? does he say the president can do what he wants, but we will do what congress has told us. follow our mandate. it will be interesting how he does the delicate dance so that he does not become a punching bag for trump. carol: you talked about what he has been doing, i love how your story starts, taking us back to president trump gave an july, interview. he was critical of the fed and the same time jay powell is on capitol hill talking to lobby and how the fed is doing. you talked to him about being a politician with a little p. i love that. he is smart. this is a guy who understands government, he does not have the training like other central bankers. he is not a politician, but he understands how washington works. that could play in his favor. >> he has been around washington a while. he grew up here and knows his way around, he is comfortable in pressing the flesh. his two predecessors, in contrast, they were phd economists. they

i was asked to talk about my time at the state department, when i worked with colin powell. i was asked to say one or two things about the council of foreign relations, where i work now. that. do even though i am in washington, i will not filibuster. i want to spend some time on our conversation with the dean and my old buddy ruben, and then i want to open it up to you all. let's talk a little bit about the world. what is going on right now. as you would expect, from somebody who wrote a book with the word "disarray" in its title, i am not the cheery guy in the room. my kids call me daddy downer. and you are about to find out why. if you are not worried, you are not paying attention. let's just be blunt. for 70 years, if you think about it, from the end of world war ii until recently, the world has had an extraordinary run. an extraordinary run. it is atypical in many ways, the degree of stability, prosperity, human advance on multiple levels. great power competition was muted which had previously been the great driver of history. my concern is that when we look back on the

kavanaugh is replacing justice anthony kennedy who was in a powell seat. he was there for many years and then judge bork was nominated to replace powell. all the controversy and politics around that. anthony kennedy comes in as a swing vote. for democrats the question is as well qualified as brett kavanaugh is in the aba has said he is thoroughly well qualified, is he so conservative that he would tilt this court forever and a day to the right? and lower public trust in the ability of the court to be impartial? >> we're expecting to hear a lot from democrats in their opening statements about these documents, 42,000 pages released by the white house last evening on labor day evening on the holiday evening, judge. how does this change things? >> this is exquisitely unfair to release that number of documents the night before the hearing starts. it is literally impossible even for a team of democratic staffers in fairness to them, to go through all of this and find what they are looking for. what are they looking for? they're looking for antipathy for roe vers

were commissioning hypnosis to design their album companies like peter gabriel and black sabbath powell and then designed over three hundred album covers and then studio. we were ever going to do a picture of a rock n roll. they appreciated that and said we don't want a picture of us on the front we want something interesting we want something different. they didn't think about the commercial aspect they had no interest in that at all they wanted something that was important creatively some creations group done intentionally provocative like this for the album. and the one nine hundred seventy three because on led zeppelin's house of the holy proved too much when it was hugely successful nomination program me and all that sort of stuff but the middle america. christian fundamentalists they say. you have to put a stripe across the children's bottoms so we put a japanese piece of white paper to cover it up with a name that. is it a photo montage or a real picture of the graphic designers love to play with perceptions and bands paint them hunt suddenly there was. one of their most spectacu

powell.ok at the feds decisions tomorrow. that's next. this is bloomberg. ♪ his is bloomberg. ♪ caroline: the fed's gathering in washington today ahead of tomorrow's rate decision. the central bank is expected to raise interest rates. more, let's bring in merrill lynch's head of u.s. strategy. it is more about the dot plots and 2019 or is it more about tomorrow? >> the decision to raise rates is expected tomorrow. see a number of participantses -- coalesce. there are two rate hikes this year and three next year. -- they willill keep it that one rate hike for 2020. shift upwardshe. implying the fed continues to keep rates relatively elevated into the future. joe: the latest inflation data point we got was be nine. why all of these hikes -- be nign. why all of these hikes? mark: we will get core pce and we think it will be soft. that will be quite close to the 2% inflation objective. when the fed looks at the broad economic data, they see and unemployment rate below what they think is sustainab

jay powell saying the u.s.g but he's closely watching global trade tensions >>> shares of bed bath & beyond falling big time after its quarterly report the home goods retailer missing profit and sales expectations for the second quarter in a row. bed bath & beyond giving weak earnings guidance for the rest of the year. >>> amazon is opening a new store that sells items that are rated four stars and above it is set to open today in new york's soho neighborhood there you go, check it out >> because nobody wants to buy two stars. one star, not even good. >> see ya. >>> we are following a story in the oil markets. sources confirming to cnbc that saudi arabia is able and willing to put as many as 550,000 additional barrels of oil on to the market if demand merits it those gains would come from about 200,000 barrels per day and resume capacity from pipeline issues. sources telling cnbc that this increased supply is reliant on demand if demand is apparent, supply will grow accordingly. remember, this jibes with what t