chair powell: thank you. [applause]

we are getting headlines from jay powell. fed chair powell is speaking at stanford university. chair powell: over the last few years inflation came down significantly but is still running above the fomc to percent goal. in february headline inflation was 2.5%. over the past 12 months based on pce index and one year ago it was 5.2%. for inflation excluding food and energy components stood at 2.8% in february. one year ago it was 4.8%. this is very welcome progress. the job of sustainably restoring 2% inflation is not yet done. tight monetary policy continues to weigh on demand my particularly in interest sensitive spending categories. nonetheless, growth and economic employment activity was strong in 2023 as real gdp expanded by more than 3% and 3 million jobs were created even as inflation fell substantially. this combination of outcomes reflects significant improvements in supply that offset, to some extent effects on demand of tighter financial conditions. healing of global supply chains help address pent-up demand for goods, particularly, in sectors that had faced considerab

chair powell: thank you. [applause] >> all this week we are showg recent supreme court cases as the high courisxpected to rule on by the end of the term and we will talk with rorrs about some legal issues voed. eachight at 9:30 eastern on c-span. tonight's argument is garland the cargo, it looks at the legality of the 2018 ban obu stocks, which turns a semi automati rifle into a fully autotiassault style weapon. watch tonightndll this week at 9:30 p.m. eastern on c-span. you can find all the supreme court coverage on c-span.org/supreme court. >> book tv. every sunday on c-span two features leading authors discussing their latest nonfiction books. 9:00 p.m eastern, john o'connor looks at

powell. >> senator vance? >> thank you and my gratitude for you for doing this hearing and thank you for being here and it is good to see you again and i think these hearings are important and gives us an opportunity to provide oversight what is going on with the fed and understand some of the things that you are doing that affect their constituents. i want to refocus on the basel iii regulations and specifically the way there have been various proposals to draw them down to focus on the regional bank's. and to go back to one of the most significant crises in our sector is the collapse of first republic and svb and we spoke in private and in public but one of the concerns i have is when you talk about increasing capital requirements on the banks and if they were under higher capital requirements and the run up to the crisis there was an argument that maybe they would've gotten more long-term treasuries which would expose their balance sheet to even more treasury bond risk and that maybe would

how are you assessing what powell said? >> markets realize that powell doesn't want to cut interest rates. he made that clear. he did caveat his views by saying they want inflation to continue to ease again so they need more moderate ratings. haslinda: powell wants to cut rates, prompting some to say he's got e.g. fingers. the data not supporting that cut . is there since perhaps powell could be wrong? the fed could be overenthusiastic and wanting to cut rates. >> last year when inflation numbers were moderating quickly the second half of the year, the fed signaled that would be patient, they wanted to see more evidence. they want greater confidence inflation is moderating. if they get that the next two or three reports, then powell is saying they can start cutting interest rates now. haslinda: how are you setting the risk of him getting it wrong? >> and say between 20 and 30%. the blindside -- supply-side is getting better. lower demand as well. the chance of him getting it wrong is that minority in terms of probabilities.

powell? >> i would now like to focus on how the proposal is set to significantly disincentivize banks from offering clearing services. congressman dated central clearing as a way to reduce risk in the system. the number of banks that cleared derivatives has reduced over time. making it harder for users to find a bank to offer this service. there are some estimates that will increase this by 80%. i'm worried that this will make it harder to find a bank to clear their hedges and when they are friends at the securities exchange commission has just finalized a rule in december that will increase clearing and the cost in those markets. this will have a real impact on market access and liquidity, not just in commodity, but the $26 trillion treasury market that will play a critical role in the world economy. will you work with them to address this problem? >> again, i'll say that we are aware of those concerns and we're prepared to work with other agencies and also to make sure that our capital prop

let's get back to the fed chair jay powell.day signaling that policymakers will need clearer information of lower inflation before cutting interest rates. but he says the bump in prices recently hasn't altered the feds broader trajectory. >> let's bring in mark cranfield from bloomberg's mliv team now. mark, we saw treasury yields going through a bit of a round-trip yesterday. the hawkish comments from bostic sent yields higher. then you had powell a little dovish, sending front end yields lower, you also had the economic data feeding into the story. what market reaction could we see from the jobs data we have yet to come? >> if there is any big changes, we will see it in the foreign-exchange world. we are in a pretty interesting situation for the u.s. dollar. positioning-wise, traders are pretty long u.s. dollars, they have been for a few weeks, which is not surprising. we had a strong set of u.s. data. we have also had a fairly hawkish speakers from the federal reserve pushing back against early rate cuts. the jobs data comes

i think the market figured it as jay powell had said.n't make sense the june cut given where inflation is right now. >> right now we see two sectors, utilities and also real estate. in your mind, what does that signal? it feels like days ago. i was a couple of weeks ago. everybody is talking about this broadening of the market and now we're seeing contraction. >> two sectors are real estate and utilities. you've got inflation, you've got a fed that can't be cutting interest rate sensitivity. that's not what you want on your equity exposure. you want companies participating the growth, and real estate and utilities don't do that. >> again, your w.e.x. word of the day is "premonetary," waiting for something bad to happen. you seem to be a boxing fan. you gave us notes, an old mike tyson quote. everybody is surprised until they get punched in the mouth. it had to be a bit of a surprise. what do you advise clients to do? >> i think you've got to have a plan to stuck to when you do get that pup. in the mouth. that's when it's difficult. have

chair powell? make me feel a little bit better. >> i'm trying to echo it. >> we are trying to include as less friction as possible. these are things that were done to increase capital requirements for derivative activities. this is a very close look at it. >> i was a member of the conference community. we had bipartisan support for look at the advantage and users. this had bad -- broad bipartisan support. unfortunately, the fed could undermine this long-standing work from congress. i would like to look at a few liquors -- letters into the record. this is when we first joined the agricultural trade association. this included the national association, among seven others. this is the american gas association and four others. the letter from the american public power association, looking at the cooperative association. >> thank you, mr. chairman. >> chair powell, i would like to focus on how the proposal is set to significantly disincentive five banks from offering services. congress mandated central c

powell. >> larry, i try to be honest with you. larry: heck, i -- there is a rumor we have great linda mcmahon from fort worth, texas, chair person america first policy. former cabinet member, small business, linda wembanyama, ywomen -- welcome back, i are just in team, a quote about president trump tax cuts. here is joe biden talking about your tax cuts. >> donald trump embodies that failure, he wants to double down on trickle down. his failure starts with his 2 trillion dollar tax cut that overwhelmingly benefited the wealthiest and biggest corporations and explode federal doadz. debt. larry: a little bidenomics for you to make your day, i would have thought making evidence that virtually every person and every sector of the u.s. economy benefited from the trump tax cuts, including middle income people, loewen co, low income people, and a record low poverty rate, and record low unemployment rates for blacks, whites, hispanics, women, young people that is the numbers i read. national bureau of economic research confirming this. bu

jay powell's q&a following his remarks. we'll get to that in a moment they have aussie $a bit of a bep fishery from rare u.s. dollar weakness, 65.66 at the moment. let's take a look at how we're doing for japan. futures right now a little bit negative territory. not really by much. the yen didn't weak p much as a result of dollar strength. that's still hovering around the 151-152 level. a little weakness in new zealand in the early going. crude prices in focus. we did have -- crude prices rising at the moment. opec didn't make any change to output curves, that was very much as expected. of course middle east tension and ukraine attacks all keeping those oil prices. haidi: let's look at u.s. futures at the moment we had the reaction to what we heard from fed chair powell. futures looking optimistic, in positive territory at the moment when it comes to small growth related names on the nasdaq 100 in futures trading. it was a volatile last hour of trading on wall street. eventually regaining their footing to go higher. paul me

welcome back, chair powell. while i am pleased with the progress the administration of made to tackle inflation, we are not out of the woods yet. in fact, even though her mother my republican colleagues refuse to acknowledge this fact, housing is still the number one driver of inflation. based on the latest data, housing costs continue to make up nearly 70% of overall price increases, outpacing modest wage gains. we address the underlying housing supply shortage and americans will continue to pay an increasing share of their income on housing. the affordability prices will worsen, and inflation will remain too high. with that said, it's hard to understand why republicans feign concern about the economy. they are unwilling to address the key driver of an elation -- housing. in fact, republicans of only put forward legislation that makes things worse for millions of americans, including moving legislation to slash funding for federal housing programs, including in rural america. this abysmal record of housing is p

we are hanging out with glen powell! [ cheers and applause ] glen powell. got our start together and -- >> i had a feeling you were going to bring this up. >> jimmy: well, back in the '90s, we starred in the police drama called "precinct 62: lethal justice." [ light laughter ] audience barely remembers it. >> i remember, yeah. >> jimmy: you remember it? >> it's a gritty cop show if you haven't seen it. we play two detectives would didn't see eye to eye. >> jimmy: it was a good -- it was a good show. the only issue was when we taped it, they forgot to turn our microphones on. [ light laughter ] >> yeah. >> jimmy: so, they never recorded any of the audio for the show. and so, the director just had his kids revoice the entire thing. [ light laughter ] so, it was us acting but with their voices. >> nepo babies. >> jimmy: that's right, yeah. it was nepotism at its worst. and the director said that no one would notice. but i think you can tell. well, we actually have a a surprise for you. >> what? >> jimmy: we actually did a a little digging ourselves. like littl

that rebound confidence from chair powell.t out performance had been in the gold names, precious metal miners. some of those leaders in the session today. at japan, this is seasonally a quite interesting time for japanese equities that could push this next leg of the rally with even more exuberance, if you will. spring typically sees long-term and foreign investors in flash and some strong out performance is expected from japan stocks to carry on from the strong alley we've seen. very strong session today, up almost 2%. and look at what has been driving a lot of the gains across the board. we've seen gold crossing that $2,300 threshold. gold futures are up by about .1%. iron ore seeing a bit of a downside. some of the more recent data points out of china suggesting that perhaps some of the slowdown there has bottomed. crude prices just under $90 a barrel. machine on the energy outlook. daniel hynes is the senior strategy director. it's down given what we've seen from much of the rebound past but is this a supply story, a feeli

jay powell's thrown in the towel.ill not be any rate cuts this year because inflation is actually getting worse this year than it did last year. you talked about the border problem and law and order and the crime associated with it as mr. trump has. i got another one for you. joe biden on tax day, which was monday, as you know, joe biden decided that raising taxes is a much better economic growth and opportunity approach than cutting taxes. and says the trump tax cuts just benefited a few wealthy people. i thought it benefited almost every nook and cranny of the economy. now can the house do anything, you know, the kudlow catechism, the laffer catechism on supply-side tax cuts at least stir the pot, at least tickle just a little bit? i always thought lower taxes was a better idea than higher taxes, mr. speaker? >> yeah. you're trying to apply way too much common sense for washington. you know, larry, in the house republicans we have the smallest majority in u.s. history. one vote margin. we're using that because the r

maybe powell goes in to work and he starts to cut rates.t pause on record. the good thing is 319 days, 167 days, we've seen the market up pretty nicely on these. 22%, 19%. so it's good because when they have to cut fast, that that means the economy is many trouble, so this won't be too bad. the bottom line here is that the data is specious, the commentary will be overdone no matter what, and the pom-poms will come out. you have to stay laser focused with your own -- what i've been saying on the show -- with your own portfolio. you've got to stay in the market, but you have to be select i have, and you have to be somewhat nimble -- selective and nimble. i think that's going to continue to be the case. we talked a lot this show about rotation. rotation from one sector to another sector. it's easy to chase, and it's not too bad with if you chase at the right time, but right now is a real pivotal time, folks, particularly tomorrow. pay close attention to the jobs report. we've got your back. in the meantime, this last hour of trading should be

maria: what is transitory when i asked about jay powell here is what he said. >> jay powell fed chairmansoft landing you do you believe we will see a soft landing. >> i think he is going to do something, to probably help the democrats, i think if he lowers interest rates but you have potential massive inflation again, because the middle east could drive up precise of energy he is not able to do anything but looks to me like trying to lower interest rates for the sake of maybe getting people elected i don't know. maria: you think political going to cut rates. >> i think he is political yeah. maria: would you reappoint jay powell? >> this no, i wouldn't do that. >> you wouldn't. >> no. maria: because? he missed inflation. >> he did miss but i wouldn't be -- >> that was february 4, joel, when president trump said inflation will reignite because of oil how this is playing out. adam: called it right then not many in february earning inflation would pick up. maria: president trump was. >> he called it right at that point, now i think you are seeing a lot more people on the bandwagon. maria: yo

why don't we start first with the fed chief, jay powell?e's a i go who doesn't get any credit for anything. he is the rodney dangerfield of central bankers. he's constantly being second-guessed, like he's clueless. that's just plain moronic. powell's a pragmatic individual who doesn't surrender to politics or orthodoxy. he's the least promotional public figure in america today. he had to deal with a once-in-a-lifetime pandemic which caused elected leaders to spend money like crazy. he accepted it. he never bemoaned it. when he realized the pandemic was under control he raised rates 11 times to stamp out inflation. each time inflation snapped back so he had to keep tightening. he realized there could be negative consequences if he didn't stop. that's right. we're now in a situation where inflation has cooled, cooled dramatically, even if it's still too high, and we also have an aband absurdly strong job market. it's just too strong to justify cutting rates. so it's time for powell to stand pap pat and see what happens. there's nothing wrong

powell. l3 p. we sent a letter l3 p. thank you for being here. i want to get back on this basel proposal. we indicated our concerns and the proposal. i think it is worth noting that the number of other organizations, a diverse group that are not normally aligned on policy dish you have national housing conference, naacp, habitat for humanity, national community reinvestment coalition -- the list goes on those they have concerns with the current proposal. here is my concern. we are trying to make the best of what was foundational he a bad proposal. i'm in the category of people who think that it should be re- proposed. because one of the reasons why i did not support mr. barr's nomination is i felt like we were going to be here. it was clear to me that we were going to be at this place some months or years later. and here we are. i think that the industry felt the same way. all the stakeholders. some are in trade. some are on the other side of the spectrum. so i would like to cast my vote , or

there is the asymmetric stance of chairman powell.mmetric in the fed will cut in response to weakness but will not turn hawkish of activity remain strong. that's an important shift over the last few months. lisa: financial conditions have been turbocharge. have we entered a new regime where inflation is naturally higher? we will speak with bill dudley and talks to the fact that maybe it is substantially higher and if that's the case, does the symmetry have to shift at the federal reserve because they haven't dealt with this question. if you are dealing with more inflation than pre-pandemic, does the risk become more material that if they don't keep -- keep rates high long enough, what are the burdens? jonathan: let's get to the dovish spread. what idea dovish fed chair? long-term neutral is close to 4%. i think the federal reserve doesn't know so it doesn't want to engage in the debate just yet. it has left that long. there and believe that there may be for a number of months. lisa: it raises a really important debate. mohamed el-eria

we have more headlines from fed chair powell.an is back, along with cnbc contributor peter. steve, you were just reporting that chair powell supposed to be talking about canada, but he says the fed does not have the confidence to cut rates in the foreseeable future, can stay here as long as needed, as this economy remains hot, inflation is stubborn. but the labor market seems fine. i thought he was talking about canada. >> he could have stuck to can dashgs but he came out of the box with something to say about interest rates and inflation. he's not happy, he's not happy that bond yields are not happy. i guess the stock market probably looks like it came from this brief selloff there. but what he's saying is he does not have the confidence. he said that inflation is not running the way they thought it was going to run. it's running hotter than they expected. and this is not giving them the confidence to cut. i don't believe he's taking cuts off the table. there was an interesting comment this morning from vice chair jefferson wher

lisa: powell indicated they will not hike rates also.t a standard case of overheated demand. this is something else. this is not indicate the need to kill it off. this the reason people are saying the upside risk to inflation is not in the same way where should be. powell says data has not given us more confidence so we need more data. this are no longer bumps the timeline issue will be incredibly important. jonathan: the emphasis has changed. in august 2022 when chairman powell was at jackson hole and he delivered the speech on pain, the emphasis was on pain. now the emphasis is on time already healed not cutting for the right reason? or will earnings be supportive of some of the valuations we got to over last month's? lisa: the delinquency data we keep seeing on credit cards and auto loans give pause. the idea you are seeing small businesses struggle with higher benchmark rates. there are reasons you could see this economy slowing more materially. that is the reason there is little pain, it is just not widespread enough to get average

it's the korean won which has been sensitive to the actions of jay powell. were getting commentary from the likes of ocbc, jeffrey saying upside in dollar trade, count down to around 1335 per dollar by december. better demand, that is improving and also they start of the easing cycle adding to appeal. for equity markets it will be trade or read through from big tech earnings. we had microsoft, alphabet really impressing because the takeaway was they are spending on ai and cloud, that's paying off. best week for u.s. stocks in 2024. still farmer. haidi: of course potential expectation of a hawkish pivot and how that plays into asian central banks and economies. in the last leg of the cycle, the open, a couple of minutes into cash trading coming online in a staggered open. upside when it comes to sydney stocks. watching treasuries as well, expecting dollar and yields to get a lift higher. ozzie bonds following that trajectory. dollar is holding. against the backdrop of dollar strength, most other asian currencies, brent crude is holding the decline, u.s. stepp

especially after fed chair powell made those comments, s saying hard to find reasons to cut, but ended near the lows. >> yeah. tomorrow, beige book, and in this hour, you've got a number of industrial companies that are going to be reporting, bhp, csx, to get a sense of the industrial part of the economy, that's going to do it for us here at "overtime." >> "fast money" starts now. >>> live from the nasdaq market site in the heart of new york city's times square, this is "fast money." here's what's on tap tonight. a bank bifurcation. shares moving in vastly different directions since earnings season kicked off. how should you read into the results and what do they say about the state of the market? >>> plus, 34-year lows. japan's currency trading at levels not seen since new kids on the block were topping the charts. will the yen keep moving lower step by step? and why does it matter? >>> and later, united health keeps the dow in the green. lvmh shoppers tighten their purse strings, and bitcoin, is it heading even lower from here? i'm melissa lee, coming to you live from studio b at the

it might be that jay powell thinks it's a danger to jay powell, because president trump told me in ant he would not reappoint jay powell. [laughter] >> that's right. but jay powell's there until 2026. at that point he's another one that's going to be 80 years old. at that point maybe it's time to step back anyway. to your point, yes, maybe he's also trying to protect himself for a potential third term at the fed. i'm not sure why he'd want to stay another term at the fed after, you know, what he's been through, but that's a whole other conversation. one way or the other, i do think that it's inpoint if -- inappropriate for the president to come out and say we're going to get in this rate cut. while it may be pushed off a month, i fully expect it to come. meanwhile, unless the data changes i don't see how the fed can convince everyone that it's necessary to cut rates and stimulate the economy when our economy is functioning on all 12 cylinders and is doing a very fine job are even with rates at 5.25%. which, by the way, you and i know are historically normal. maria: yeah. well, it's ha

anything new that sticks out to you and what powell said?ve noted expectations for a june hike have ticked slightly higher. >> he stuck to script. he's still beating the drum that he's got time because the economy is strong and inflation is above target. i think the key words for me in the speech was, they're looking at this meeting by meeting. so it feels like he's saying look, every meeting is live. we could make a change at the next meeting or the one after that. so it feels, you know, like a rate cut is coming. he did mention january, february inflation data. the inflation data is really critical. the jobs are less important, it's all about inflation, and we have to make sure the bump in january, february inflation was just measurement, seasonal adjustment, which i think it is. but we have to see the better numbers, and once they see it, i think we'll get a cut. >> ted, what matters more for the consumer, a looser policy or stronger economy? >> people right now are looking for a stronger economy and actually feeling that in the form of l

it was the story of jay powell. we have spoken about the last mile of disinflation, whether it will take longer for the final stretch to get price pressures down to the target for the fed. not enough progress has been made. that is reflected through bond yields. we see them at year to date highs across the curve. the focus is on powell, speaking at a panel discussion alongside the bank of canada governor in washington. here is what he is saying about how much more patience is needed. >> we have said we will need greater confidence inflation is moving sustainably toward 2% before it would be appropriate to ease policy. we took that cautious approach and sought greater confidence to not overreact to the low inflation in the second half of last year. annabelle: for more, let's bring in sylvia jablonski, ceo / cio / co-founder, defiance etfs. sylvia: perhaps a little change of tune in the messaging from powell, but does it come as any surprise to you? i don't think his message is super different. the numbers came in une

4.1% is powell's excuse to cut. see. thank you very much. always appreciate it. >> thanks, charles. >> all right, folks in his monday note my next guest warned that flocks turned sloppy and likely to consolidate and correct. joining me crossmark ceo, cio, bob doll in studio. so great to have you in studio. >> thank you. charles: let's bring up some of the observations that you have in this note. >> okay. charles: powell hawkish, consumers healthy, excess savings dwindling, for follow gone. soft landing unlikely. maybe maybe you published this, on the street, 98% would disagree with you. i think that needle is starting to move a little bit. >> absolutely right. maybe the perfect environment isn't going to happen. today's report was perfect for that. both less than expected. inflation more than expected, now what do we do? charles: >> we'll have earnings shortfalls, interest rates higher, multiples following those are not great. charles: i don't think you say the market is priced for perfection butter in perfection. >

adp on wednesday together with chairman powell speaking. thursday jobless claims. friday the payroll report. next week, cpi and bank earnings on deck. equities kicking off q2 look like this on the s&p 500. futures positive .25%. yields higher by a single basis point. coming up this hour, peter tchir of academy securities on why the water -- on why the market could be headed for a big rotation. bill dudley singh last year's bank runs could happen again, and former fed vice chair at randy quarles on the path forward. the equity market rally continuing after the s&p posted its fifth straight month of gains. peter tchir saying he is ready for rotation. he writes "i'm so sick of hearing about the magnificent seven, fab four, or whatever. it is time -- i am looking for anything to steer me away from that. the russell 2000 suddenly outperforming is interesting." peter joins us around the table for more. is it more than just interesting? is it the real deal? peter: i've been thinking about this market as anything deputized into ai has been driving the market. for the last

maria: president trump on jay powell. >> jay powell the fed chairman talking about a soft landing do see a soft landing. >> well, i think he is going to do something, to probably help democrats, yeah. i think if he lowers interest rates. but you have the potential of having massive inflation again, because the middle east could drive up the price of energy he is not able to do anything, but looks to me like trying to lower interest rates for the sake of maybe -- getting people elected i don't know. maria: you think he is political going to cut rates -- >> i do i think he is political yeah. maria: would you reappoint jay powell? >> no, i wouldn't do that. >> because? >> he missed inflation. >> did miss he did miss no, i wouldn't be -- >> barry knapp your take on backdrop here, what jay powell needs to do. you know, we saw that jobs number the other day that everybody was celebrating 300 jobs created in march then started really zeroing in realized much job creation was part time, a lot of jobs given to foreign born not american citizens, so can we look at the jobs picture being all th

chairman powell the headline act.cript in the face of stronger-than-expected economic data. any reason for chairman powell to change his thoughts? we have one explanation that said perhaps you get a difference between what you heard at the news conference and the man himself to get his opinion later on. lisa: i have such little conviction he's going to say anything different than i find the forum more interesting. he will probably continue with his tune because he has, regardless of how hot the data is, the fact that he's speaking alongside the ceo of google and alphabet to me highlights how challenging his position is. does he hint at that productivity boom we are expecting, some of the transformations they give him confidence we will see inflation lower? annmarie: i'm more interested to hear what raphael bostic says. he had said he was 3, 1. now is the zero when it comes to rate cuts this year? how much is what he's talking about going to influence other members? jon: did a brilliant job exposing that bias. they tal

how does jay powell process these two reports?bviously, the markets and the economy are two different things. >> i think jay powell made a good comment about talking about numbers. u.s. is a large economy. it doesn't mean it is a hot economy, it is just a large economy. the estimates are startlistartl. two years ago, they said was 941,000. now 3.3 million. that is clearly having an impact on the demand. you see supply is catching up, but when you have increased demand, supply has to catch up i still think that we are going to have a cut this year. >> you are saying it is not reliable >> it does give you reliable you saw the number insurance is going up. one goes up and the other goes down you have to look at the composed number if you are sitting down and thinking is inflation at 3.5 no do we go to the shop every day there is a measure and there is a measure. i think jay powell has to sit back and take notice he looked through the price increases on the good side and increased rates much higher. he will look again and do it later

>> i think powell's comments were really interesting. had some higher than expected inflation day data so r this year, to call into question whether or not we get the rate cuts. powell said we're not going to change the rate cut forecast. we believe inflation is coming down although maybe we've seen bumps along the way. we're not so sure. we think three rate cuts could potentially be in jeopardy but only really at the margins. maybe they cut two times starting in july, as opposed to three times in june. the federal reserve raised rates to the high level, 5 and-a-half percent, and they're planning to keep them for a longer period of time and that's punting on what they've seen so far on the data and hoping the data over the next few months comes back down and are in their favor so that's where we stand right now. maria: mark. >> i agree with you. i've been having talks intern fallly with my team about -- internally with my team about what could cause a pullback in the stock market. as you know, in election years, that drawdown is typicall

us stocks fell after mr powell spoke.ere's how stock markets fared in the us after mr powell's comments. the s&p 500, nasdaq and the dow closed slightly lower. the federal reserve�*s next policy meeting will start at the end of april. tensions in the middle east have also been weighing on markets. and the conflict in the region has been cited as a risk to recovery for the global economy by the international monetary fund. in its annual report, the imf said growth would remain steady this year largely propped up by emerging economies like india. but high inflation and weak demand in china and europe are major challenges. the bbc�*s economics editor faisal islam has more from washington dc. we have got new numbers from the imf, theirforecast for the world economy, and it shares a world economy, and it shares a world economy, and it shares a world economy that is more resilience and mainly driven by what is happening here in the us and in some emerging economies, such as india. there is a big black cloud over the world econo

had conversation with colin powell in preparing this book before he passed. talk about their relationship and. what i love about it, it's the the decades right, you know, kind of weaving in and out of the various he had somewhat biting colin powell tends to look at that and oh he's calling me again bring me in he didn't give me much choice but clearly had deep affection. right. what came from it? yeah, it was it was such an honor. and i'll always remember it being able to interview colin a couple of weeks before died for this memoir. they were dear friends and had mutual admiration for each other. but one story in particular think really illustrates how my father really respected and depended on colin and that is right after he was chosen to be national security adviser. you know, this is right after iran-contra. so he had decided to streamline the, you know, the national security council. and the only person wanted working for him was, colin powell, who had just gotten a cushy gig over in germany and had no interest returning. i can see you guys know this st

breaking now, jay powell on the defensive. he spoke two hours ago as the fed deals with so many conflicting economic trends and there are concerns with the fed being too political. wait until you hear what powell had to say about that. learn the difference between hard and soft data, when will investors value value stocks? one year ago she gave you two stocks up 220% and 175%, one year ago today. find out where sarah kunst is buying right now. gen-z says they need 1.6 mil to retire in style. the good news they started early. the bad news, they ain't making much traction. here is the question, how much do you need to retire comfortably and tweet me @cvpayne. you don't want to hear my take on the wall street jobs report no matter what the print is on monday. all that and. more on "making money" ♪ charles: there has been a hesitant start to the quarter. this is monster first quarter. let's look at the first quarter one more time, put it in perspective. large cap u.s. stocks up almost 11%. commodities, all kinds of things that wen

. —— mike batt was jerome powell.herrmann is a european economist at bank of america and joins us from paris. after this latest fall in uk inflation, we are still some way off the target of 2%. when do you think the target of 2%. when do you think the bank of england is going to make its decision to cut? . the bank of england is going to make its decision to cut?— its decision to cut? , the cutting cle is its decision to cut? , the cutting cycle is actually _ its decision to cut? , the cutting cycle is actually august - its decision to cut? , the cutting cycle is actually august now. - its decision to cut? , the cutting cycle is actually august now. i i its decision to cut? , the cutting i cycle is actually august now. i have to admit that into this week we thought that there was more of a chance that the bank of england might be confirmed to cut around june. if the interest rates had continued to show a better slowdown, if the... inaudible enough to get the bank of england, so we are happy with our base rate of the b

jerome powell reversing course.rew bailey against the central bank may be able to cut rates before the fed saying the two countries are diversion. let's check in on these markets. we will be watching the tech sector here with those disappointing numbers. european futures responding in positive territory. here in the u.k., the 4100 futures higher by 3/10 of a percent. s&p futures stateside by .2%. we talk about the run-up in yields and jay powell's market change of tone. -- marked change in tone. we saw a jump yesterday. we will see how long that holds four. $89 a barrel on brent. currently down .5%. prices jumping in the session today. of 3% currently in iron ore. let's return. the new orders falling short. the details, let's go to david watkins. at the chip industry grapples with delivery impact of inflation. >> one of his challenges is to mandalay. maybe that she would not be so spectacular comes to the numbers. because this is the only company that makes these machines. they bill the most advanced semiconductor c

we've got a lot of fed speak coming up that will add to what jay powell has said.e have seven fed speakers today. we have six more tomorrow. if you don't know what the open market committee is thinking, you should by tomorrow night or have a good idea of where we are going. i would imagine it will echo the jay powell who says we are not ready yet but maybe later this year. they will talk about the employment numbers and the inflation rates and we get a lot of that between now and the june meeting with may be the first rate cut if things go their way. we've got three made just labor market reports and three cpi reports into pce report so keep an eye on the data and we will have to see what ends up happening. caroline: whether we listen to the rap file bostick's or get more dovish from some of the other players. i'm interested in what's happening more broadly with the economic perspective of the u.s. economy when we look at the jobs number coming out tomorrow. how much do we think that might be a risk on/risk off moment? mike: probably not huge risk off unless we get

powell can stick to script.will have written on his hand, "don't say anything about cuts." [laughter] but always looking for some kind of dovish slip. i think if he wants to do an insurance cut or two this year the data won't allow him. it is a waiting game to see how the economy evolves. jonathan: you said he will be hawkish tomorrow. what you think you will say? win: i don't think that he is going to say the h-word. hike isn't and his vocabulary at this point. he was a rate cuts will continue to be pushed out. earlier he said we will cut sometime this year, sometime this year, coming soon. but he can't say that. he will say the data are not allowing for a cut right now. we don't have confidence inflation is going to the 2% target relatively soon. these are things that fed officials talked about before the blackout period. i see a continuation of that. nothing is happened since the blackout period began that makes him have to change the script. 250 thousand plus jobs this friday, inflation remains sticky and hi

but i think mary's had died, one she knew lewis powell. louis powell showed up at her front door shortly after the assassination. she lied about what she knew and her son john escaped. as we close in on our time together here at the surratt tavern, john wilkes booth was headed to dr. mudd's house after leaving here? yes close out that part of the story of what ends up happening to dr. mudd. dr. mudd first tells a cousin of his go tell the union soldiers that strangers who were here, they have been the men you're looking for. so the soldiers arrive, the cavalry patrol they showed. dr. mudd a photograph of john wilkes booth. i swear, i don't recognize them. i have poor eyesight and i don't have a good memory of faces either. i might meet you and i can't remember that i met you. i don't have a good memory for those things. they know he's. and then dr. mudd, servants probably tipped off the soldiers. something's going on here. and then in dr. second floor bedroom, they find a boot hidden under the bed. that boot is now displayed at ford's thea