powell.was safe yes actually for similar reasons we were talking about to.unified direction instead of the disputes we had between different agencies in the past and the studies can really set with the facts are about how the different mental work in the technology using it and hopefully coordination could be built off of the scientific facts. >> okay so if i was quickly send it via that would being evaluated the very band that all of us sitting here asking for the government to get into the market, will have acknowledge the bands are heavily encumbered with there's complex sections associated with the current users potential commercial use. so some level the matter what form it takes, there has to be continued evaluation of white and reliability of doing that in the appropriate approach to doing that. >> okay thank you both and i yield back. >> picture now recognize the vice chair the subcommittee mr. allen, recognize the five been. >> thank you chairman it and i will get back to the subject

think that jerome powell could come. out in five minutes and say, we. >> hear you loud and. >> clear, mr. president. we're lowering. >> rates by 50 basis points. >> and ten. >> year yields are still going to. >> go higher. >> and that's not. >> necessarily a good thing. >> yeah. in terms of his fight against inflation though it would be great to go to the american people and say your mortgage rates are coming down. right. the thing your. >> mortgage rate or not are. not tied to the. >> the front. right, right. no, i know and so my point is that he's trying to jawbone a part of the curve that he has no control over that we've actually seen go higher despite what the fed has done. so jerome powell. >> is not. >> the audience. is that what you're saying. no. >> yes. i'm not joking. >> yes i think exactly what you're saying. >> right. it's the consumer he wants to be able to say like we i am. trying to i'm demanding that your mortgage rates are going to come down. your credit card rates are going to come down. your borrowing

president urges the fed to cut rates, saying he will speak with jay powell at the right time. >> good morning, happy friday. we will check your markets but before we do that, a redhead crossing the terminal confirming bloomberg reporting that monte paschi will end is in the process of buying in an all-share medio banker. more consolidation in the italian banking space. the details then, monte paschi offering to buy it in an all-share deal, offering 23 new shares for 10 shares. monte dei paschi offering 23 new shares for 10 shares. the offer is just over a 5% premium from the close yesterday. confirming bloomberg's reporting that monte paschi is exploring that deal to take over medio ban co. we will get details on this story for you. monte paschi is seen as the oldest existing bank dating all the way back to the 15th century. more details on that potential deal throughout this hour. let's check on some lines dropping from the telecom equipment maker ericsson, so from dealmaking to the earnings story. ericsson fourth-quarter adjusted gross margin at 49.1%, the estimate had been 48.2%. t

to be fair. to jerome powell and his team tojerome powell and his team they were under pressure to cut a while. the? back for quite a while. they are sunposed _ back for quite a while. they are supposed to _ back for quite a while. they are supposed to be - back for quite a while. they are supposed to be free - back for quite a while. they are supposed to be free ofl are supposed to be free of political pressure, whether thatis political pressure, whether that is true or not, you know, i think there was a lot of cherry picking of the us data the softness, and it is really not there when you look at the larger picture. i think we should not pursue with rate cuts until we see what progress we make in the months ahead. doctor sean snakes, thank you. donald trump's tariff policies are likely to have a significant impact on asia. in his previous term the picture wasn't entirely bleak — with some countries benefitting from us—china tensions. but the stakes are higher this time as the president—elect has promised a 20% tax on all us imports. katie silver takes a look at how businesses in the

is it all in what powell has to say? >> it is all. what he is going to say.me since the fall of 2023. we had rates a little higher than we are today. so if he is a little bit dovish, even if it's like a tinge of it, it would be kind of a shock, right? so now buttigieg, i think what we have to take note of is waller and chris waller, who i think was really deviating from the cautious tone that we got out of the fed over the last several weeks, looking at the data and saying, we got to keep our eyes on the inflation ball and really pay attention to that. and he came from a completely different angle. you know, powell has always been a little bit with him in that sense of like looking at inflation slowly declining and having confidence and feeling like this is going to continue no matter what's going on in the economy. so he will point to that. now, i don't think he will be politically influenced like he will maybe tweets will go around and he will it will maybe pay attention or not. i do think, though, that he knows about the administration, what they're planni

are not glen powell and timothee chalamet. so yeah, even celebrities, they've got a sense of humor. >> i mean that's cool that they got to go to this. i do think they bear striking resemblances, but i would never walk down the street and think that's timothee chalamet and glen powell. >> but how cool is it that he's recognized at the contest here in new york city and then taken to the globes. >> yeah they probably had a blast too. all right. coming up, new details about the explosion outside the trump hotel in las vegas. >> plus, the terrifying moments for passengers aboard this flight, seeing their plane turn into a high speed fireball. >> and later. grab the birthday candles. and how about a piece of cake? we're taking you down memory lane on our 33rd >> firsta solve this. >> we're back with a frightening fire involving a commercial airliner. this video shows flames erupting from one of the wings of an air canada dash eight aircraft as it landed in nova scotia. officials say there was a problem with its landing gear. more th

lisa: jay powell. [laughter] jonathan: without a doubt.urious about what jay powell's response is to some of these ai developments. how are they modeling out something the market is single be transformative to the employment market at a time when they have been flipping and flopping. jonathan: 1:30 eastern time. an update on story elsewhere -- stories elsewhere. dani: scott bessent has been confirmed as the next u.s. treasury secretary, winning the senate vote. get included support from 15 democrats. policy objectives include 3% gdp growth and a 3 million barrel per day increase in u.s. oil production. benjamin netanyahu is planning to visit washington next week to meet with president trump. they say he will speak with trump about maintaining the cease-fire in gaza. israeli media is reporting trump's middle east envoy steven witkoff is expected to travel to israel this week to discuss longer-term solutions to regional conflicts. gm shares are rising, just about .7% in the premarket. the automaker reported better-than-expected for third ear

you did hear from the president in terms of his own relationship to fed chair powell. let's listen to what he had to say. pres. trump: i think i know interest rates much better than they do. i think i know it much better than the one who is primarily in charge of making that decision. but i am guided by them very much. but if i disagree i will let it be known. sonali: there was a lot of concern about fed independence coming into this cycle. lindsay, do you worry there could be a push and pull between the president and the fed chair, or at the very least, between the types of policies put in the white house and the fed easing cycle? lindsay: i won't really pontificate on whether there will be fed independence or not. we believe the fed will remain independent. i think we heard clearly from how my december, that -- chair powell in december that independence is in place. in terms of policy effect that is important. it is exactly what we are trying to figure out now. that is what is being priced into the market. what is interesting is january has zero probability in terms

and trump, of course, was the one with nominated fed chair jerome powell in the first place.ob. he's the one who let inflation go up to over 9% when biden was president, and it's just been kind of a herky-jerky monetary policy. so the big question is will donald trump replace jerome powell before his term is up in 14 months or so. i don't know the answer to that. he's been jawboning the chairman to get out. he'd like to replace him. i think -- i'm going to to make a prediction if though, i think he's going to let powell serve his term and then replace him early in 2026 which i think had be the best outcome. mike: all right. we will follow that. president trump's also putting the world on notice as it relates to tariffs. let's play that. >> right. >> my message to every business in the world is very simple, come make your product in america, and we will give you among the lowest taxes of any nation on earth. but if you don't make your product in america, which is your prerogative, then very simply you will have obey a tariff -- to pay a tariff. mike: i realize a lot of tariff

corazon was killed after being pushed into a bart train at the powell street station last july. police charged a homeless man in her death. >> she has no bad bone in her body that i can that i can think of. >> the lawsuit laying out reasons the family believes bart should be held responsible. chief among them, they say bart failed to keep its riders safe and its stations secure. the lawsuit claiming the man who pushed corazon had been known to bart police and previously banned from entering the powell street station. >> he had been in trouble multiple times. he was known to bart. he was told not to ride. he was a gate jumper. there are a lot of people like him around. >> since her passing, corazon's family says the emotional pain they've endured has oftentimes been unbearable. corazon's nephew alvin, saying he was the one who got the call from the hospital staff that night in july to say his aunt had died. >> that's the first trauma uh- emotional trauma that i've suffered. the second one was delivering the news to the six siblings. >> one of those six siblings is corazon's broth

: so clearly there are a lot of variables and this raises more questions than answers because jay powell data dependent, but you pointed out in your notes that it is policy dependent as well. though that has been applied somewhat selectively during the press conference at the last fomc. jay powell made clear that some members folded and expectations for what they see the incoming president doing while others didn't. it was a real mixed bag. that doesn't make for a very useful forecast especially when it comes to something like inflation, does it? >> know, it makes everyone's job a lot more difficult but i think this is part of uncertainty as the incoming trump administration takes over on january 20. we are going to have to see what he goals out on day one or one, whether or not those tariffs are going to be taking in right away, the intended 20% blank iteris, 25% tariffs on canada and mexico and 10% on things coming in from china and that was already at 60%. abbottabad is going to be dependent on what exactly plays out, how long they are going to be for, and i think that is what the fed

in jimmy carter and colin powell were there port-au-prince and i but as at the time trying to get himleave the country. and the prime minister or the president at the time. it was coming down to the 11th hour and 59 seconds. the 82nd airborne had actually departed pope air force base and was going to invade haiti. we were all wondering why are carter and colin powell still there question mark why have they not left? it will get dangerous if the shooting starts. to his credit jimmy carter stayed until the very last possible moment and convinced him to leave haiti the 82nd airborne invasion was called off and there was a peaceful transition, peaceful as can get in haiti to a different president. and it really was congresswoman, remarkable feat of diplomacy on jimmy carter and colin powell's part led by jimmy carter, of course. who knows how many people would die in haiti had the 82nd airborne had to launch invasion? the military secret service was hanging on and definitely would have been shooting back at the american forces. >> you are talking about two great man as you tell that story

it will come down to what jay powell has to say.ms, pce data on thursday and friday, gdp on thursday, which will be important because it shows some strength in the economy. we have to look at where that strength is, what it portends for the future. certainly not looking for any strength in residential investment. we will also see where the fed is in terms of its own inflation indicator. we will see. right now you are looking at a market that has almost come full circle since the last time the fed met. just before they met, they were pricing in almost two rate cuts, almost all the way to three. we are back to two rate cuts by the end of the year but just barely. we will see how that moves next week once we get through this data, and as neil points out, february 1. jonathan: lisa, only one analyst note that i will read on wednesday after the news conference from donald trump. i want to read his take on chairman powell's news conference. lisa: i can tell you right now, completely out of touch, interest rates need to be lower. lower int

maria: what kind of commentary would you expect from jay powell tomorrow?cause i expected in this meeting they will hold, they will not cut rates, i think he will probably repeat some of the themes that he repeated, that he used in december, that there's still work to be done on inflation, that the economy is performing well, that the labor market is very solid and that the committee is going to stay focused on its dual objectives and particularly the inflation objective to try to get it down to something closer to 2%. maria: you know, i've got to tell you, i blame the fed for all these expectations, dennis. i mean, look, the federal reserve policy committee has four new voters this year, boston federal reserve president susan collins, chicago fed president, austin gu goolsbee ad jeffrey schmidt. i would like to know if they're going to be a little more guarded when it comes to their expectations because frankly, dennis, i mean, the fact that the market was expecting seven cuts this year and the fact that the market was expecting what it was expecting last

look, the bond market has been saying that jay powell failed. today the stock market said oh, yeah, you're right. he definitely failed. the people are basically writing off anymore cuts. there's no more cuts coming from the fed. the fed still thinks there are more cuts coming. if you listen to some of the fed speakers they say oh, we think there's still room to cut. there's no more room to cut. the discussion is very quickly going to change to does the fed have to hike. right now, inflation has been stuck and way above where it needs to be, but if it starts to climb, then we are going to get people very seriously looking at fed hikes in the future. larry: which will be very badly received. >> jay powell needs to step down if they start or need to hike because he pitched everything on the idea that he was going to get it right this time. i mean, think about all the mistakes he made. he made a mistake at missing inflation when it came on board and then he messed this up again when he thought inflation was going away. he's too doveish. brian: if th

i am sure jay powell is happy the fed is in a blackout period ahead of the meeting.d president trump say he wants lower interest rates at davos and he needs lower oil, he told reporters i think i know it much better than the one who is in charge of making that decision. if i disagree, i will let it be known. is it too early for him to be jawboning the fed? is there concern about fed independence? terry: too early, not for president trump certain way. fed independence is not an issue here. it is not going to be an issue. the fundamental reason why is the fed gets to make decisions independently. that is fed independence. the fed is not a creature of the president. the power of the fed derives from congress. the president really does not have the ability to meddle in those things. i am well aware of some times in the past whether it be president truman or president nixon where that has happened. i don't think it will happen here. what will happen is should trump try to cross the line, congress will slide at him pretty hard and congress has shown the ability to resist t

corazon was killed after being pushed into a bart train at the powell street station last july.arged a homeless man in her death. >> she has no bad bone in her body that i can that i can think of. >> the lawsuit laying out reasons the family believes bart should be held responsible. chief among them, they say bart failed to keep its riders safe and its stations secure. the lawsuit claiming the man who pushed corazon had been known to bart police and previously banned from entering the powell street station. >> he had been in trouble multiple times. he was known to bart. he was told not to ride. he was a gate jumper. there are a lot of people like him around. >> since her passing, corazon's family says the emotional pains they've endured has oftentimes been unbearable. corazon's nephew alvin, saying he was the one who got the call from the hospital staff that night in july to say his aunt had died. >> that's the first trauma uh- emotional trauma that i've suffered. the second one was delivering the news to the six siblings. >> one of those six siblings is corazon's brother, danil

powell. he doesn't have much to lose. he's going to be out of a job anyways at the end of the year or mid year next year. so it's a collision course. he can't wave a magic wand and it's really going to be up to the fed. what they do with the interest rates not donald trump. >> all right. so the president also talked about manufacturing here in the us basically saying other countries you need to make your things here or there might be potentially some aggressive tariffs. we're going to play a sound bite. i want to get your reaction to exactly what the president had to say. >> my message to every business in the world is very simple. come make your product in america and we will give you among the lowest taxes of any nation on earth. we're bringing them down very substantially, even from the original trump tax cuts. but if you don't make your product in america, which is your prerogative, then very simply you will have to pay a tariff. >> so there the president not only talking about tariffs but also talking about taxes. ag

ron powell is his name. at first i'm not thinking i want to go up there.hen i saw her family saying, well, can you help us, that type of stuff. and us meant mark. that's when i started to think, you know. the victim's family wants the accused represented by you because they believe he's innocent? correct. that's sort of a once in a while thing. hardly ever happens. yeah. like never. keith morrison: but 14 months after the murder, when went on trial, the family, his, karen's, and theirs, filled the galleries every day to support him. you were there because you know that person. the judge allowed cameras in court, but no audio. so we can't play you the testimony of that woman from idaho and decided to conceal her identity. that's the one he texted and phoned but hadn't seen in more than three decades. still, was to be with her, said the state, that mark killed his wife. and on the stand. at one point, she said mark had mentioned that if they were meant to be together, something bad would have to happen. keith morrison: the woman didn't seem to know what mark

>> so i do think that powell if's performance of late has been rather unsettling.ng to watch a yo-yo. i was very heartened to hear kind of husband first lieutenant -- his first lieutenant, the person who's got his ear more than anybody else, christopher waller, saying that he thinks in march we could be resuming rate cuts, and i think that's probably the right path for the fed to take. i was even more pleased, charles , with an announcement a few minutes ago that the federal reserve is stepping back from a global initiative to have climate change enter into central banking. charles: right. >> so i was pleased that the fed stepped away from that. i agree with you, charles, i think that powell's going to have to be more consistent going forward and not have it appear that he's being political. charles: there's a monster spike in the philly fed manufacturing report. i'm not sure what drove that, but other than that though, i've seen no evidence of this manufacturing renaissance. and i know this has been an area that a you've been concerned about. the overall state of

i am with first time golden globe nominee glen powell.ot just glen, but also his mom and dad. >> hello. hey. how you doing? congratulations. thank you, thank you. >> how does it feel to be a first time nominee? >> it's really special. it's been really, really wonderful. i mean, it's pretty surreal that we all get to kind of go on this journey together. it's awesome. >> i was going to ask, i mean, you have the best dates, mom and dad, how proud are you of your son? >> we're really proud. >> this has been such a fun family adventure for years and years. >> and it's just, you know, it's all his dreams are coming true. >> what does it feel like to see glen's dreams coming true here on the golden globes red carpet? >> it's unbelievable, really, when you think about it. >> because for hitman, he was writer, producer, actor and all of these gifts that he's had are finally coming to fruition. >> so we're really proud that he has that opportunity. >> so thanks. >> since it's the golden globes, this is the party of award season. i have to tell you

unfortunately, about two years later jody powell was drinking -- jody powell was with some other peopleter] in one of the taverns in washington, and he embellished this story enormously just to get a local appreciation or a free beer or something. [laughter] it was a wild rabbit that tried to attack me in my boat, and i was saved by the skin of my teeth from being bitten and he thought the rabbit was probably mad -- had rabies. this became the number one story in the whole world. president carter, who is already beleaguered, he can't get everything he wants, is even afraid of rabbits. [laughter] i am not laughing still. [laughter] you can't imagine, i still get about 3000 letters a week, but i don't know how many letters i got about rabbits and people wanted to know that had pet rabbits, if i throw my rabbit in a pond or my swimming pool, can he swim out? i had to write and explain the fortitude and capabilities of rabbits for long time. [laughter] so that is one of the funny things that happened that other people remember. >> infamously the killer rabbit story may be a cautionary tale

and i heard, "last name powell, first name glen." and i went -- that's [ bleep ] glen powell. glen, last name powell," and you're like, "and i immediately knew it was glen powell." [ laughter ] >> yes! thank you for having me. >> seth: you're very plugged in to hollywood. [ laughter ] it is really cool to meet you in person. thank you for everything, all the entertainment you've brought to our family. and i just can't wait for the next thing you do. and knock them dead on broadway. thanks for being here. >> thank you. [ cheers and applause ] >> seth: auli'i cravalho, everybody. "moana 2" is in theaters everywhere now, and "cabaret at the kit kat club" is on broadawy at the august wilson tatre. stick around. we'll be right back. [ cheers and applause ] ♪ as the people you love get older, their risk of severe f and covid goes up. last year alone, those viruses hospitalized nearly 1 million people 65 and older. that's nearly 1 million moms, dads, favorite uncles, and grammas. if someone you love is 65 or older, talk with them about vaccines, because to you, they're not just anoth

corazon was killed after being pushed into a bart train at the powell street station last july.ce charged a homeless man in her death. >> she has no bad bone in her body that i can that i can think of. >> the lawsuit laying out reasons the family believes bart should be held responsible. chief among them, they say bart failed to keep its riders safe and its stations secure. the lawsuit claiming the man who pushed corazon had been known to bart police and previously banned from entering the powell street station. >> he had been in trouble multiple times. he was known to bart. he was told not to ride. he was a gate jumper. there are a lot of people like him around. >> since her passing, corazon's family says the emotional pain they've endured has oftentimes been unbearable. corazon's nephew alvin, saying he was the one who got the call from the hospital staff that night in july to say his aunt had died. >> that's the first trauma uh- emotional trauma that i've suffered. the second one was delivering the news to the six siblings. >> one of those six siblings is corazon's brother, d

the reason being is that the federal reserve remains under jerome powell and it needs chairman powellory reform. going forward you will see additional reviews and may be tinkering to the stress capital buffer but i know that capital levels -- i do not think capital levels will change very much because deregulation is not a magical want. you need the off troll -- the calm -- the office of the comptroller and the fed to go along. if you are banking on the regulatory aspects hitting the bottom line you are looking at 2027 at the earliest because 2025 and 2026 they will be looking -- working on it. scarlet: if basal 3 will be delayed or eliminated, how will that be a boost to the industry because it was never implemented? nathan: if it is implemented it will be in a way that is capital neutral, and the banks will tell the regulators keep us at a level playing field with european counterparts. going forward, if it is delayed, then you will get questions of what the capital regime looks like because remember, basal 4 has already been implemented in europe. so if they begin questioning their

among them rachel powell, who in popular culture is known as the pink hat lady or ice ax lady, powell used an ice ax to break into the capitol, and was seen directing capitol attackers with a bullhorn. now she was not accused of attacking police officers, but there were many cases of police officers being attacked with batons and bear spray, bike racks, even flagpoles. the pardons and commutations that president trump issued don't sit well with everyone on capitol hill. what i'm trying to do is figure out there are some commutations to me. i just can't agree. i'm about to file two bills that will increase the penalties up to and including the death penalty for the murder of a police officer and increasing the penalties and creating federal crimes for assaulting a police officer. that should give you everything you need to know about my position. look at it as it's it was surprising to me that it was a blanket. pardon? now i'm going through the details. i was here on january 6th. i saw the horror and the terror of these insurrectionists. what message does this send to law enforcement w

the family says that she was pushed from the platform at the powell street bart station and later died of her injuries. it's not just him. >> there's a lot of people out there. >> cool. >> it's just circling that train station. i know because the moment that that happened to my on i went to that station myself and there's about a dozen, you know, people in there who i didn't feel safe, just we're going to that station. what more a female at, you know, 11, 11, 30. >> on wednesday, dan dance family announced a lawsuit against bart claiming that the public transportation agency failed in its job to protect passengers such as dan tan court documents, state that trevor belmont had been banned from bart, adding that he had been arrested at least 27 times and 2018. he had been convicted and engaging in lewd conduct when he exposed himself on bart. >> we are. filing this complaint. to make sure it doesn't happen again to to anybody else. a criminal is now under. you know, investigation for murder, appalling. >> bart is on notice. you have to stop and make these trains and stations say for ride

“music playing” liz: fox business alert tomorrow the first meeting of the year jerome powell and companyhe january interest-rate move, let's be clear the committee is expected to leave rates unchanged fed's fund show a 97% odds of no cut but powell is likely to face questions at his press conference on president trump's pointed demand last week that the fed cut rates again. i would begin independent institute senior fellow judy shelton during president trump's first term she was one of the pick to serve on the federal order of directors, welcome back to the showed you agree the interest-rate should drop immediately? >> i think even putting it that way shows the wrong emphasis. he preceded that statement by saying with oil prices coming down that was as big untrue stipulation. he was saying this is entirely consistent intellectually with the fed's own model the whole idea of high interest rates is to fight inflation. energy is a huge component of inflation so it president trump's efforts to increase the supply of energy brings down the price of energy that brings down inflation, the fed s

and breaking down the real message of the bond market and gary says that matter as lot more than powell. plus, for years i've been pounding the table on enseemingly practice -- unseemingly practice of insider trading but a ban could be in sight and america seizing the panama canal. all that ask so much more on making money. for about a year, you heard only about the rotation trade and maybe we're rolling over. think about this, the fair index that green need and will it's started moving in the wrong direction a week ago and i was thinking maybe it was more like extreme caution but as you see, we're getting a lot closer to extreme fear and this time it probably is a really good reflection of how some are starting to feel but good news going for the area and sooner and stronger and i think it will bounce back. part-time are anxious about all this and emotions and they're in line with the sharp directional change of the market. think about this, in the blink of an eye, industrial groups change hands and this is your different industrial groups and not long ago, 90% were trading above their

powell over the course of the next several months, no question. the president has very little control over the overnight fed funds rate, very little control over the back end of the curve and at this point inflation is a paramount circumstance to be disturbed about. commodity prices are going from the lower left to the upper right. gold prices are making new all-time highs. crude oil prices have been stronger than i had thought likely and likely to remain strong despite the drill, baby, drill, so the fact that the president's going to be pushing on the overnight -- pushing the fed to cut rates i think is an ill advised move on his part. better for him to be silent and let the fed do its job. cheryl: well, let's take a look at crypto prices because they've been moving higher after president trump's executive order which aims to make the u.s. the crypto capital of the world by potentially developing a national stockpile. fox business' edward lawrence spoke with trump's ar and crypto czar david saks on why they ban agencies from developing central ba

i don't think they can enforce jerome powell to do anything he doesn't see as warranted. >> i don't wantsay all of this is. it's a tantrum to make sure that the fed doesn't cut on make sure that the fed -- huh? tell me again. >> it's an emotional reaction and it's also a tactical move by traders. i mean, there are two types of investors -- there are many types of investors, but the two types of investors, basically you have traders that tend to be leveraged and the leverage -- the cost of leverage has gone up significantly since march 2022 even with the three rate cuts that we had earlier this year, and then you have enter media to long-term investors. for one thing where the ten-year is now, consider the fact what it really needs and we're at levels on interest rates where bond issuers, whether it's the u.s. government, municipalities, corporate entities or others effectively are paying for the privilege of borrowing money again at a fairly normalized rate. >> john. to kelly's question, and open up the interview, hi, by the way. thanks for coming on. what happened? borrowing costs for t

so that's one bucket of headlines around the fed and his relationship with jay powell. one is going to be on an executive order here on cryptocurrency. we're waiting for a little bit more detail from the white house on exactly what this document that he signed is. but he's creating a working group on crypto, which will have david sachs involved. david sachs was in the oval office with the president moments ago, explaining the details of it to reporters, who will explain it to us when they come out to the press briefing room. but it does look like there's a working group here and maybe some more details from the white house changing federal policy on crypto. so a couple of different buckets there to watch for, but particularly interesting in terms of his relationship with jay powell, scott and so much attention had been focused on whether or not he would try to remove powell, whether that would even be legal. he has signaled that he wouldn't do that. but clearly today we are seeing an effort by the white house to rattle the cage a little bit over at the fed. the presiden

is there any of this a lack of confidence in jay powell?rtainty and data dependent reflects that and if we look at interest rates right now, people are really focused and last time they were this focused back in april and this time in late 2023, family are trying to understand why we're getting five month moves where rates go up and down for five mo months d in a very reflexive environment. charles: and the u.s. dollar verse market concern situate i have a minute to go and talking about this and you went over the ales model in different variables and there's a lot of factors and what's interest sergeant two 4% stock withs a sale rating and hard to get a sell rating on wall street and by the time they're at a sell, it's a buy and that's besides the point. folks are watching the show and saddled with stocks they've been with for a long time and have no clue or idea how do i let this stock go? some is ego and some is legitimate of the least amount of up site pomoxus ten and shall simpler way of going through something like that? >> i'd say rig

mistakes that led to that failure of chemist on the price of people coming soon on, which is 0 the powell just the the, [000:00:00;00] the hello daniel. what challenges there. i hit the reminder of on top stories this hour, or israel has faults to hospitals in northern gauze or to evacuate on the thrust of attack. saw from patience that the invasion and i'll out the hospitals sold to leave immediately on friday. farm is of france and germany have matched with the data of serious new administration and damascus. diplomats who are representing me, your opinions and lifting of sanctions on syria, which depends on the country's political future. is present to revive and will travel to new orleans on monday to visit victims of wednesdays call running attack memorials have been starts off at the scene where us on a veteran samsung in java, troy of his truck, into a group of new guys rep was killing 14 people, java was killed during the attack, the us f b. i says he was inspired by ice japanese company nipple and still says it will sue the us government and talk to present job. i've been blocked

and fed chair powell told us there are three kinds of federal officials, one incorporates something of what could happen next year, another group of officials who didn't incorporate anything and a third who wouldn't say. unclear where kugler is on that. you know, tyler, it's like saying draw me a picture of the room but leave out the big elephant in the room. it's almost impossible, i would think, to think about a monetary policy this year to think about the economy this year without incorporating some form of your belief what's going to happen to those two particular areas of critical importance to the economy. >> how unusual is it, steve, for interest rates as set by the fed, and they have one or two rates that they influenced very directly, how unusual is it that their interest rates are coming down and longer-term interest rates are going up? and what does that signal? >> it's pretty unusual, tie lerl. it's worth noting, think people forget this, in the anticipation of those rate cuts yields did come down and now we have given back the largest part of that decline. there was a need

powell is -- larry: all right. hang on.to go back to you on this because one of the reasons that i'm crusading, if you will, for one big, beautiful bill is that i think lower tax rate as, extends tend thing them or adding to -- extending them or adding to them is in the case of the corporate tax, the 15% tax, things like no taxes on cash tips and overtime, anyway, lore taxes and deregulation, supply-side policies which produce if more goods and services, that will help to bring down inflation and and will help to curb the fed's mistakes. ed and biden-esque mistakes. that's one of my arguments. let's get it in not only to get a blue collar boom going right away this year, but also to curb the biden-flation, e.j. i don't think that argument gets enough currency, but it's important. >> larry, you're absolutely right. especially when we remember the basics about inflation. it is fundamentally too much money relative to the size of the can economy, right? too much money chasing too few goods and services. and so even if powell i

materialize the local right of the palestinian people of the us present the leader of the world super powell, the country which is often looked at all was at least in the past, looked at as a standard setup for human rights, talk about it like egypt to take people who'd like jordan to take people you're talking about. he says, probably a 1000000 and a half people use the word 3 times people and then refers to an expression about just clean out that whole thing. you know, that sort of language. how do palestinians feel when being spoken about in that way? i would say that 1st of all, if you look at the u. s. responsibility on what's happening, garza because most of the destruction took, took place. there happened actually with us weapons and, and there, there are several violations for us. not that i think should be very careful about that. now. what does optical 17 of the geneva convention talks against? false displacement, right? but again, we're talking about a goal for us because we have a way of set their attacks on only be able to fight with westbank. and of course, the have set us up w

i will tell you that rachel powell, some of the -- watch there. thank you.he people inside this prison are hoping to make it to the inaugural balls tonight. they have been told if they are released -- okay. we're going to move down here, anderson. we're going to move out of the way. all right. so, unclear -- unclear why there was such a rush to the doors of the jail right there. but there does seem -- there is something happening. >> so you heard some -- donie, you heard some of the people who may be released want to attend an inaugural ball tonight? >> reporter: that is correct. so we just got -- i got off the phone just five minutes ago again from rachel powell, who is calling us from inside the jail. she told us she has been in touch with people who -- i believe the liberty ball. you can correct me. but the liberty ball i think is happening at the convention center. i believe trump is speaking there tonight. she has been told that if she gets out and she expects to be left out in sweats and a gray track suit is what she said was what they give people as t

powell returns to san francisco. we're live in studio with the event producer and co-chair to find out what's new. stay with us. the crumpled weekend news continues in just a moment. (woman) i've got this dream... and you're all in it! (banker 1) let's hear it! (vo) with wells fargo premier a team can help you plan for your dream. (woman) i have this vacation home... (banker 2) so, like a getaway? (woman) yeah, but... it's also an eco-friendly artist retreat. (banker 3) so, you're expanding your business... (woman) ...and our family! can you help me plan for that? (banker 1) yeah! let's get started. (vo) ready to meet the dream team? you can with wells fargo. >> more than ever. think that showing up going to more than half loss for them is forever. >> now on the kron, 4 morning news, a community comes together to mourn and remember loved ones. 2 years after the tragic mass shooting in half moon bay. mayor, do you have anything to say? a lot of people are very scared right now. we're reaching out leaders were talking

he's kind of threatened the fed before, to which jay powell has said take a hike.is demanding on a public stage, which he has no ability to do you better lower rates and saying, hey, the rest of the world, you know, tell your central bankers to do the same. >> well, he also told opec to cut, cut oil prices, by. >> the way, good on you. >> i mean, i got the same thing. i mean, it's one of those things that i think the group here at this table, we've been watching him talk nonsense for 18 months now. and so some of this stuff is like what? we're tired of it now. he goes to europe and speaks in front of business committee that you and i talked to on occasion, but has. not been really paying attention. over the last 18 months. and they say, oh my god, did you hear? and it's not just the fed stuff, it's it is the opec stuff, the stuff he's talking about tariffs. and then of course the tangential things he goes off on that, that people. >> were just. >> shocked about. and to me it was like why are you surprised? the dangerous thing about this though is it's been interest

it's right there at powell street. so it's westbound 80. and this is, you know, we're making the live sausage on tv here, so it's messy, but i can show it to you. westbound. right there. there it is. and here comes the police. so this is going to be a bad news for the commute on 80 because of this crash. hopefully it will get out of the way soon. but i want to thank kevin for getting me that shot. we'll keep you posted. 710 let's go back to the desk. >> all right. thank you sal. well, a heated debate over police pursuits. we'll tell you what oakland residents said at a town hall meeting during a push from the governor and the chp to change when oakland police can chase suspects. >> and the olympics will be in los angeles about three years from now. but already, president elect trump is a supporter. what he reportedly had to say about plans for the games in southern california after a car accident. [music] >> beware of insurance companies bearing small checks. if you've been injured, you may feel pressured to settle too soon and for too litt

for borrowing costs to be swiftly lowered, claiming he knows more about interest rates than jerome powell. >> i'll demand that interest rates drop immediately, and likewise, they should be dropping all over the world. interest rates should follow us all over. the progress that you're seeing is happening because of our historic victory in a recent presidential election. >> the bank of japan lifts rates to their highest level since 2008, and signals further hikes are in play. good morning everyone and happy friday. we start today's show looking at the latest pmi figures for the eurozone. let me share those with you. the composite flash pmi figure for the eurozone came in at 50.2 for the month of june. that's actually higher than what analysts were expecting going into the release today. and let's break it down between services and manufacturing, starting with services. the reading has come in at 51.4. that was just marginally lower in terms of what economists had priced in. but indeed, it is still a positive reading above that 50 threshold. when you think about manufacturing. however, we kn

that includes the late colin powell, who was the first black man to serve as national security advisers of staff and secretary of state. joining us now, msnbc legal analyst charles coleman. charles, you predicted this in some ways. i want to read from a piece that you wrote recently where you said, if history is any indication, there is more than just cause for concern. under the previous trump administration, the doj civil rights division was on the wrong side of seemingly every substantive issue. what are those examples and why were you predicting this? >> well, good morning. one of the things that we know from the last trump administration is that this is not an administration that has any regard for the civil rights of americans. and one of the things that we had working to our benefit was a doj civil rights office that was headed by kristen clarke. it was not going to be that when you're returning to trump 2.0, because that was a doj that was interested in making sure that people were protected, to making sure that consent decrees were enforced, to making sure that investigations

jay powell keeps pointing that out that it is unsustainable.ou wrote about a closing out 2024. the risk of a 2022 repeat, how great is that risk? torsten: much higher than what the probability is signed by the market. the 60/40 portfolio underperformed. rates went up and inflation was going up and at the same time stocks went down. now the nike solution -- swoosh has been flattened out. we have a few cuts priced in. imagine this expectation start to go up. maybe we will get another hike. a lot of equity investors will say in that case, we have the trailing pe on tesla at almost 200. that is why some stocks are incredibly expensive. maybe the fed has to do something more to hike rates again. i think more sensitive names will certainly see a bigger hit. given all the stocks driven by a handful of stocks, i think that makes it much more sensitive to the nike swoosh going up. jonathan: good to see you, sir. torsten slok of apollo. the second hour of "bloomberg surveillance" around the corner. we will catch up with keith lerner, french hill, jason t

third—quarter revival that rallied the los angeles clippers past the miami heat 109—98, while norman powells. matthew stafford threw two first—half touchdown passes and the los angeles rams�* defense had nine sacks to tie the nfl playoff record in a 27—9 wild—card—round victory over the minnesota vikings in a game relocated to arizona. the game was scheduled to be played in california, but the venue was changed for public safety purposes because of deadly wildfires in los angeles. and that's all the sport for now. a bbc investigation has found parents of children with severe epilepsy are breaking the law to give them cannabis—based medicine, because they struggle to have the drug prescribed on the nhs. file on 4 has spoken to families buying oils on the black market, as well as those who illegally smuggle the drugs into the uk. alastair fee reports. is that funny? is everything funny? lunchtime, and this is ten—year—old annie's favourite meal. she loves food. she's quite highly motivated by food. annie has a rare form of epilepsy. we've changed their names to protect their identity. it's ha

fundamentally too much money relative to side of the economy, chasing too few goods and services, if powell to allow m2 to grow. if we can grow the economy faster, that is really what we're talking about here, with those tax cuts with incentives to work. dr. laffer talked about how tack on income -- tax on income, if you tac tax it you get less, providing a disincentive to work, if you lower them or get rid of them, you will get more productive economy and labor force, the economy will grow, if you grow it faster than money supply, you will bring down inflation. and i think that is a key the reason why the president is pushing so hard for know increase in energy production that will also grow the economy but on top of of that, kind of get a double pay out if you will because also will bring down prices throughout the economy, and energy is ubiquitous for all goods and services. you bring down the prices. larry: author, a minutes lift. larry lindsay writing today. you know, we import about 5 trillion a year. if you have a 10% ridge around the collar to use mr. trump's phrase, universal tarif

do you think grabbing jay powell by the lapel and saying cut the key policy rate down is the right step? scott: i think bank of canada and ecb can cut, because the canadians and the europeans exercise some level of fiscal prudence. they are not two-footed driving. there is a natural economic cycle, and jay powell has been easing, for whatever reason, he felt compelled to ease financial conditions last fall, after the fomc meetings in november and december. the statements were very anodyne, and he walked out at a press conference and gave very dovish guidance of rate hike, rate cuts are coming and a massive ease of financial conditions. by doing that, what happened? he pushed up the stock market, which benefits the top 20%, and then we are back to the bottom 50% who don't own assets, they have debt, so rates have had to stay higher for longer. i actually think that he has hurt biden's chances by reigniting inflation, pushing economic growth, re-accelerating economic growth, when it could have been slowing. and i think they could have been cutting rates, but they are not. and i would also

do we read the what jay powell has to say in a different way, following what the president said?> well, i think look, this is a new way of communicating. >> a president. >> that operates in a completely different way than any president. >> we've really. >> been watching. >> certainly vis a vis. >> the fed. in our careers. >> it's always been. >> taboo for presidents or executive branch officials to push an interest rate view. but this president is unconventional, and we're seeing. >> that in every way, shape. >> and form. and it shouldn't be surprising that he's going to weigh in with a view on interest rates. in fact, he said, i will i would like to do this. he didn't say, i want to sit on the committee, but he wants to say, this is my view. and i think if jay powell. >> were really calculating. >> this correctly. >> he's got a year left. >> he would sort of embrace it and just go, you know what, we'll take everybody's view. everybody with a talented history. >> in. >> understanding the interest rate impact on the economy. we welcome the discussion with the president and his tea

he expects powell to finish out his term. both he and the treasury secretary or the treasury secretary nominee have said that. so i don't think it's a big impact. it's a different regime from the biden administration. in terms of talking about the fed. we should expect this. but the question is whether or not there's any actual action behind the demand. >> it sets up a fight, though, because the market is not on board, certainly with immediate rate cuts. i'm not saying they wouldn't like it, but they are not priced for that right now. nowhere near. and even ken rogoff said it's as much we might as well get a hike before we get a cut. we'll leave it there for now. thank you both. really appreciate it. steve liesman leslie picker, on those comments from the president this morning and another day, another news alert on open i. kate rooney is here with the details. kate, what are they doing now? >> hi, kelly. yeah, never a dull moment with open ai. they are rolling out a highly anticipated agent tool. so anthropic and google alre