under this, the government has the power to direct the reserve bank of india to follow its policy andhere is no clarity whether section seven was in fa ct, clarity whether section seven was in fact, invoked, how —— however the governor came out with a statement saying that the reserve bank is paramount, but at the same time they need to take decisions which work for the public and for that, the government keeps talking to the reserve bank of india. amongst all of those reports that urjit patel may resign, that didn't happen but it spooked the markets and the rupee was weakened. will keep an eye on those markets when they open later. as energy markets prepare for us sanctions on uranium oil, we look at the impact on tay run's second largest customer, it is india. they import more than half a million barrels of oil per day from iran and we looked at how the sanctions will affect indian businesses. picking up groceries for a customer. this compact —based start—up provides a delivery service using bikers around the city. just a year old, the business thrives in keeping their costs low. at

the reserve bank of india has put in strict measures to clean up the balance sheet of indian banks. that their non—performing assets could lead to long—term risks for the indian economy. due to the restrictions, many banks are unable to land and this is having a severe impact on business, especially medium and small sized firms who are unable to borrow capital. in indian elections scheduled next year and the government is worried about growth swinging down. to ease these rules, the central bank has refused to budge from its position. the government has also exerted pressure by initiating a rule that has never been used before which allows the government to intervene on matters of public importance. so far, new delhi has restrained itself from taking the next step under this power which gives it the authority to ask the reserve bank to follow directions issued by it. this is why this meeting is crucial as the government appointed members on the board will form a majority who try to push some of those demands. many news organisations have reported over the last few weeks that if the g

when she took a job at the federal reserve bank of new york sheet believed to be monitoring the big bank behavior in order to avoid another financial crisis. instead, she encountered a federal reserve holding banks accountable and began secretly recording her meetings that became the basis of the life episode. between the big banks and the body regulating them. william covering the author of moneofmoney and powerhouse goldn sachs came to rule the world writes a noncompliant whistleblower carmen segarra detonates a metaphorical explosive device inside the previously limestone faÇade of the powerful reserve bank of new york in a gripping and highly personal narrative, she reveals the depth of the regularity, regulatory capture that exists between the fed and wall street bank it is meant to supervise and the price she paid for doing the right thing. please join me in welcoming carmen segarra. [applause] i'm going to rearrange this a little bit because this isn't going to work for me. it's still high. i have a school at home i used to climb everywhere because you know they both kitchens toda

another thing you know those say well you know they deregulated the banks and want to do that oh the problem is we've got fractional reserve lending that lets banks fraudulent legal and money and then when they do stupid things like lend money to argentina or south america or wherever or where or or the dot com companies in two thousand you know then when those things blow up we bail out the banks because what too big to fail that that that's crazy so. and you know right now you know we look at the there's like eleven or twelve unicorns are signed these huge billion dollar tech companies that have no profits haven't had any profits for years they're kept alive by these you know zombie financing look at all of the fracking you know the this is going on in these companies are struggling to pay bills if interest rates rise high enough so the zombie corporations are going to go under you know you know they're like the claim is that we have this job shortage racks and we have us shortage of skilled labor it's ridiculous it's the same thing happened in two thousand and seven where they claim we had a shortage of out ok and the p

so i wondered inford reserve bank, private what's the status? and, two, when we adopted the big -- too big to fail concept, has that changed the perspective of the operational procedures inside the bank? so, i think those two questions by themselves are pretty complicated so i'll smith the third -- dismiss the third fish gee the the reisch sever bank and the 12 banks are private banks. they are not public entities. and again, that's why i start by saying we need to put pressure and strip the supervision away because the fed reserve act makes it clear, there's charter exists until congress decided it no longer does. the mechanisms are there to easily strip the supervision powers away. it's easy. it's do-able. and i think we should do it. why -- to phrase it differently, i work in private banks all my life, before joining the fed. every one of those private banks had issues, but the level of competency and the commitment to setting up the actual legal compliance programs that work and the understanding that it's important for customers and for the

when carmen segarra took a job at the federal reserve bank of new york she believed she would be monitoring the big banks behavior in order to avoid another financial crisis. instead, she encountered a federal reserve and affecting and holding the banks accountable and began secretly recording her meetings. recordings became the basis of the american life episode. she chronicles her experience exposing the relationship between the big banks and set up to regulate them. william cohen author of money and power came to rule the world and writes a noncompliant whistleblower carmen segarra detonates a metaphorical explosive device inside the previously impenetrable faÇade of the powerful federal reserve bank of new york and in a gripping and highly personal narrative she reveals the depths of the shameful regularity, the existing between the fed and wall street banks it is meant to supervise and the high price she paid. please join me in welcoming carmen segarra. [applause] >> i'm going to rearrange this a little bit. maybe if you have a little stool i can stand on. i have one at home i use it t

oh wow even a fair reserve bank unable to contact or see yes is it at the center of america's descent into financial armageddon yes can you blame the fed for such things as the infrastructure collapse across america the ecological collapse having california wildfires and hurricanes across the nation and i'm busted pipes in detroit leading arsenic poisoning in lead yes yes you can because they give money to the bad people because a bad people have leverage in a club doctor says. there is that but importantly all of that started in the last episode we pointed out that general electric shares had an all time high in two thousand just as bill clinton exited and left behind the destruction of glass steagall and the introduction of the commodities futures modernization act so all those that hyper financialization and the extraction of all the wealth in the looting of the nation and the wealth have been created over the previous generations was possible only once you know clinton gave that as a gift for all of his you know exiting treasury secretaries and other officials who then went on to

reserve bank unable to come yes this is at the center of america's descent into financial armageddon yes can you blame the fed for such things as the infrastructure collapse across america the ecological collapse. california wildfires and hurricanes across the nation and the busted pipes in detroit leading to our stick poisoning and love yes yes you can because they give money to the bad people. here in the us is engaged of course in fighting terror or around the world washington there was also active in yemen supporting the saudis in the fight against the however with al-qaeda now also targeting the lines between allies and enemies off fast becoming blood. yemen suffering only started making headlines with the civil war in twenty fifteen but the country's been coming under u.s. bombardments for far longer sixteen years in fact in modern history only the afghan war has lasted longer and part of the reasoning in both cases is fighting al-qaeda we're going to continue to work with the yemeni government to try to identify a q a p leadership and operations try to thwart them the conflict

bank indonesia and reserve bank of india, the central bank of the philippines all tightening over thet six to 12 months. their currencies haven't weekend, but they are at levels where it is time for investors to commit to investing. we are looking at yields in excess of 8%, real yields and many markets exist at 3%. 8% investing in a yield at can reduce your income. shery: investors have turned more bearish when it came to a couple of months ago when we saw pressure on emerging markets. this gtv chart showing indonesian bonds, indian bonds, most vulnerable with further em weakness. we had higher oil prices, stronger u.s. dollar, saw the recent reversal in oil prices. is this going to change the appetite for investors? i think for emerging markets the fall in oil places -- oil prices is positive. economiesing market are importers of oil. dollar, if we think about that, it is at the top end of its range. we are not expecting a strong rally from here, so those two conditions that have been appear to have subsided. let's also not forget within china, they are evading policy. the backdrop o

i sat down with federal reserve bank of dallas president, robert kaplan. i asked him about the rate hike timing, the economic cycle right now, and why he's worried about growth coming down. >> the reason i think growth may well slow, the fiscal stimulus is helping us this year and we have been expecting that some of that effect will fade in '19 and '20. that's to be expected. and underneath the economy, gdp is made up of growth in the work force and growth in productivity and work force growth has been solid, but we think it's going to start to be challenged, because of aging. we're pulling more people into the work force, that's a good thing, but we are aging as a society. work force growth as a result is slowing. this is why training, skills training, things that get people into the work force is so important, so then the question is can productivity grow. that's going to be based heavily on more business investment, technology, and more adaptable work force, and that's the thing we don't know, but i would say with corporate profit growth slowing down an

they are over night delegations that we issue that's it in the sit in theks -- that reserve banks in the form of cash. the demand is much higher. we are in the process of returning to a smaller balance sheet. i say we are on target. >> there was a lot of press about a speech at the annual conference at jackson hole in august where you spoke about a few theoretical concepts, neutral rate, natural rate of unemployment, and you cautioned about the imprecision and uncertainty around those concepts. why did you give that speech and why did you emphasize that? >> what i really was trying to do was bring the subject of risk management to the front and talk about what an important role it plays in making monetary policy. to give the quick version of it, we have a couple of concepts we need anything about the economy. one is the natural right amount of employment, if unemployment is lower, at theory you would see inflation or a pressures build up. it is higher and maybe inflation declines or is below target. the other is the neutral rate of interest. in theory if the rate of interest was belo

as he sees this drop in inflation, as he looks at this growing debate over the reserve bank of india,sure the banking system has liquidity, seems this whole calculus will if not acomplicated lot more for the reserve bank of india. pboc. you don't envy the the rate cut from his beating louder and the risks of a bigger risk slowdown appear to be materializing. kathleen: they are not surprising. so far we have seen some slowdown in china's economy but not much. impact of the trade war hasn't hit full force. even so there are more more ways to say by next year, maybe we will have to get stimulus, not just fiscal stimulus, tax cuts and credit enhancement but something in the way of interest rates. a former bank of china official says next year china could be lowering deposit rates, lending rates, and in fact i want to show you another chart that is a nice want to see. you have got the reserve ratio requirement for banks, the rrr. it is coming down three or four times, you can see the smaller bank as well. you see how the turquoise one at has notom at 4.5% budged yet. china kept it at this

metaphorical explosiveve device inside the previously impenetrable the side of the powerful federal reserve bank of new york in a gripping and highly personal narrative - - narrative that regulatory capture to exist between the new york fed and the wall street banks and the high pricee she paid for doing the right thing please join me to welcome carmen. [applause] i will rearrange this a little bit because this will not work for me. it is too high.e do you have a little stool that i can stand on? [laughter] so that's like a workout. so let me take this opportunity it is a very busy day and there are a lot of important issues so i am very grateful you have made time to be here today. [laughter] perfect. >> which is better? this one? [laughter] now i feel really tall. like paul volker now the world looks different from here. i don't like it. it throws me off and rather be down there. and i also want to leave plenty of time for questions before we start i do have a tendency to speak very fast if i am just yell at me and then i will slow down because again i did not ask to be in this position and i

reserve bank unable to come talk or see yes this is at the center of america's descent into financial armageddon yes can you blame the fed for such things as the infrastructure collapse across america the ecological collapse that's going to california wildfires and hurricanes across the nation. busted pipes in detroit leading our stick boys they love yes yes you can because they give money to the bad people. since it was two syllables. i don't force on various. roles can you say what the business with a must do to it look. this is the folks who. want to show us what it's not all of us not all of us and i am. on. a cd that i know is that nobody will soon look at them what are you funniest diplomates most of whom from the show such as the fluid sort of movement. you do when you must. i don't think the democrats are much mood to negotiate with the republicans or president so i think people are going to have to acknowledge that the united states over the next couple years is going to be consumed even more so by our internal our total bickering in affairs and. nobody could see coming that

should the reserve bank loosen up the level it wants to see in the banking system? tax question. they have a lot of reserves their building up, creating surplus, due to holding a foreign currency. they are not really related to the kind of issue the banks are raising. and you saw a picture of finance minister -- who is definitely on the side of prime minister modi saying the r.b.i. has been too tough on the banks and bad debt, and they need more reserves in the banking system. this is something the r.b.i. could do. the economy was after because of a lack of liquidity caused by the reserve bank of india, r.b.i. are worried about independence. they are worried about government influence. they want to have their inflation fighting credibility intact, and they think it is important for the big banks in india, state-owned banks, to clean up the bad debt. they could help prime minister modi correct his budget deficit. saysconomics team in india there is merit in these demands for more capital and a limited surplus transfer from the r.b.i. to the banks, the government could

reserve bank enables a cup dr c. yes is it at the center of america's descent into financial armageddon yes can you blame the fed for such things as the infrastructure collapse across america the ecological collapse that's heading going to california wildfires and hurricanes across the nation and then busted pipes in detroit leading to our stick voicing of love yes yes you can because they give money to the bad people. but with the truth supposed to sleep well for. my little course on the syria. rolls going to say the board of business with the most to. lose with. a lot of slow slow slow slow slow motion i am. ok see that because the way that nobody else to look at the model you put it's diplomas to move the show such as the flute solos that. you do when you want. i've been saying the numbers mean something they matter the u.s. is over twenty trillion dollars in debt more than ten white collar crimes happen each day. eighty five percent of global wealth you long for the ultra rich eight point six percent market saw a

the reserve bank of india and the government are trying to iron out their differences ahead a crucial directors. members of prime minister narendra modi's administration have reportedly been pressuring the rbi to relax lending requirements and use excess funds to boost the economy before national elections next year. media reports say the central bank's governor urjit patel may resign in protest. the uk government has welcomed plans by a french communications firm to build two new satellites in the uk. eutelsat is expected to sign a contract with airbus today, worth $218 million, to make the satellites at factories in portsmouth and stevenage. trading is seen in terms of volumes today and you can see slight gains in asia at the moment. i will see you soon. talking more about facebook now. facebook will announce new measures later to help support britain's local newspapers. our media editor amol rajan reports. just a few decades ago work in a local paper came with esteem, influence, and a solid wage. titles like the independently owned express and star in wolverhampton were treasured i

david: coming up, the reserve bank of india and the modi government. together for talks later will they find common ground or will the rift worsen? yvonne: we would discuss the outlook with andrew tilton. rishaad: don't forget terminal subscribers can join the chat by sending an instant message. david: welcome back. goldman sachs expects growth in the asia-pacific. some of theat revised forecasts for 2019. india, south korea, the philippines. all of these are lower compared to their previous forecast. yvonne: let's take a look at this closely with the goldman sachs chief asia -- some of these reductions were steep. tell us what you are seeing that others are not. china weirst of all in have had a combination of tighter credit conditions earlier this year reflecting past regulatory measures which has been slowing growth alongside worries of the trade outlook. more broadly, slowing global growth will probably limit trade growth and export growth in the region next year. finally there are a couple of countries, indonesia and the philippines, which have ti

the reserve bank of australia saying that unemployed and could fall further.ndst sets of market data coming out recently. there is a degree of uncertainty of how much labor market capacity there is at the moment. not much in terms of anything we didn't know, but certainly talking about trade. he see the reaction, the downside reaction when it comes to the trade wars in this unwinding we are seeing in the aussie, as well as in the kiwi dollars. shery: very interesting to see the rba remain comfortable despite the slowdown. jessica: nissan and mitsubishi opens fell at the tokyo after the arrest of carlos ghosn . fell to its lowest in four years. says there was underreported income and misused assets and he is said to be removed by the board. the committee will look into the structure of nissan's alliance with renault and mitsubishi. >> i am unable to talk about the details. new less to say, this is an act that cannot be tolerated by the company. experts judge that this gives them enough reason for dismissal. china accused the united states of ruining the atmosph

reserve bank unable to contact sea yes is it at the center of america's descent into financial armageddon yes can you blame the fed for such things as the infrastructure collapse across america the ecological collapse that's heading going to california wildfires and hurricanes across the nation and a busted pipes in detroit leading arsenic poisoning in love yes yes you can because they give money to the bad people. it's hard to imagine after the war a nazi doctor was still active. in the nineteen seventies crittle had as the chair of its board a man convicted of mass murder and slavery. a german company developed. a drug that was promoted as completely safe even during pregnancy. it turned out to have terrible side effects what has happened to my baby is anything paul you know she said she's just got choked arms minix a little mind victims i have to this day received no compensation they never apologized for the suffering. not only want the money i want the revenge. pics or it didn't happen this is the phrase that has become a mantra for many people as more and more people get involved in

reserve bank unable to come talk to see yes this is at the center of america's descent into financial armageddon yes can you blame the fed for such things as the infrastructure collapse across america the ecological collapse that's heading into california wildfires and hurricanes across the nation and then a busted pipes in detroit leading to our stick voicing of love yes yes you can because they give money to the bad people. doesn't have to do with the shooting stupid goal choosing. the. government doesn't . buy the government. which any of this we can newcomers and when trimming i will move in the debts will. most people think just stand out in this business you need to be the first one on top of the story or the person with the loudest voice of the biggest readings in truth to stand down the news business is just the dance the right questions and demand the right answer. question. just. the thing. to think. you know who's got the letter who it. was more off what should have. sat there and. given the choice then you. are free to tell me. just because your girl. was. proud. and smili

watch out for a rate decision from the south african reserve bank, divided as to whether the bank will time. now to brexit and handful of tricky issues remaining in negotiations between the u.k. and eu. in a surprise move, may announced she would return to brussels saturday ahead of sunday's crunch summit. is it till he disputes that worries the eu? who will give ground first? -- salvini said he is sticking to his guns but alluded to a possible tweak in the budget. joining us now is bloomberg's maria tadeo in brussels. rates to have you with us. we are talking about these ature agreements not being withdrawal. meeting inas a short brussels standards between theresa may and the president of the convention. sides sayas that both they want a deal and there has been progress, but in terms of the actual progress made, not very much. we have already missed a deadline. on the table is the future relationship, trade, someone. everyone wants last-minute concessions. is is making tweaks to the texts, it will be difficult with four days to go and that seems to be the point. the eu is concerned th

this reserve bank unable to come talk to see yes is it at the center of america's descent into financial armageddon yes can you blame the fed for such things as the infrastructure collapse across america the ecological collapse that's heading into california wildfires and hurricanes across the nation and busted pipes in detroit leading to our stink poisoning and left yes yes you can because they give money to the bad people. who are good for the troops to sleep with. my little course on the syria. rolls going to say the board of business with the most intuitive. is. not a slow slow slow slow slow motion. ok seen it back i know it there but you also look at the model you funniest or flaw with most of the moon from all the shows just the flu and so. new for your. new book. it's hard to imagine decades after the war a nazi doctor was still active rich in the nineteen seventies current intel had as the chair of its board a man convicted of mass murder and slavery at ash was a german company grown untold develops a little mite drug that was promoted as completely safe even during pregnancy an

the only thing the fed can do is change overnight lending rates between themselves and federal reserve banks right this minute it's fair to say they control short rates short rate but made it medium medium to long as they have the market exactly or even hundred eighty day were commercial paper thirty days they don't control that the market does however if the banks that are borrowing at zero can lend at twenty five basis points or fifty or one hundred they make a lot of money which then they can loan out that gets businesses going and you can create growth artificially the problem is that it leads to well investment does away with you have corporations it's a banks that are technically insolvent if they can continue life by borrowing from the fed is zero or less than zero in the case j.p. morgan they were borrowing at less than zero they were being paid by the fed to borrow money that's right so he's exactly right so say what deutsche bank same with all these are the big all around the world right so it leads to so that they determine that this is growth and all growth is good but that would

now to india, where the government is putting pressure on the central bank to keep lower reserves ands would release funds that the government could spend on programmes that shore up its popularity, but an independent reserve bank of india is crucial for investor confidence. first sameer hashmi is in delhi... we have to say, this is a report, just clarify what is happening, we are hearing about reports of pressure on the central bank, is it a fa ct pressure on the central bank, is it a fact there is pressure on them? well, that has been reports over the last few weeks that the government wa nts last few weeks that the government wants the bank to ease lending norms, officials from the government have come out and made their position clear, the bank has been resisting that move, the reason there are high levels of ad debt, they are asking banks to clean the books and for that they have tightened up the lending measures that are in place. yes, there is a public class, it is a fact and that is why the board meeting today is a significant. if you look at the 18 members who are on the boar

coming next week, federal reserve bank of dallas, robert kaplan is my special guest.time i spoke with robert he told me we will see a real slowdown in growth. we need to get an update from mr. kaplan on where we are in terms of economic growth that he will join us right here next weekend. plus, i will see you this sunday morning on fox news channel for sunday morning features. join at 10:00 a.m. eastern we have a special lineup this weekend. start smart weekdays on foxbusiness, 6:00 a.m. until 9:00 a.m. mornings with maria and i hope you will join us every weekday. that'll do it for us this weekend. thank you for being with me. have a great weekend. see you next time. >> welcome to women and money. 40% of american women are the breadwinners for the families and have more power and response ability than ever before. there's a lot to navigate from dealing with practical money and investing issues to how to handle tricky career situations. i'm deirdre bolton and i have invited amazing, successful guests who are at the top of their field. they will share what they learn a

when you have a spat between the government and the reserve bank, you have oil prices putting all of that under pressure. that is a major area of concern. we will talk about that more with kathleen hays. the yuan is going to go weaker. everything is pushing their. can they keep it together in general? there are signs of concern that the authorities are losing it a little bit with regulating and pushing companies. i think they do need the yuan to go down. both because of the optics with the meetings still in the wings and also because they do not want to appear to be losing control. kiwi: the aussie dollar or dollar -- now that you have some u.s. dollar strength, what is the expectation for the rest of the currency market in asia? today is going to be a difficult day for asian currencies because the u.s. is out. they are kind of on their own, jumping at shadows a bit. we have strong ppi numbers and we have been pointing out the china yuan proxy situation in the mix. the aussie dollar carries a lot of weight across asia because it is touch a strong risk proxy. the rba last week quietly

this reserve bank unable to see yes is at the center of america's descent into financial armageddon yes can you blame the fed for such things as the infrastructure collapse across america the ecological collapse. california wildfires and hurricanes across the nation. busted pipes in detroit are stick poisoning and yes yes you can because they give money to the bad people. you know world of big. and conspiracy it's time. to dig deeper to hit the stories that mainstream media refuses to tell more than we need to be smart we need to stop slamming the door. and shouting past each other it's time for critical thinking it's time to fight for the middle for the truth the time is now we're watching closely watching the hawks. thanks for joining us today a new children's toy aimed at kids aged five and up that's going on sale in america spot. critics saying it brings political divisions in the country straight into the kinda got on season here and looks at whether i made this time of heightened sensitivity as parents and millennial that's who we could. in these extraordinary top see turvy times

reserve bank unable to see yes this is at the center of america's descent into financial armageddon can you blame the bad for such things as the infrastructure collapse across america ecological collapse. california wildfires and hurricanes across the nation and a busted pipes in detroit leading to our stick poisoning i love yes yes you can because they give money to the bad people. welcome back now the russian defense ministry has drawn attention to thousands of militants living in a huge syrian refugee camp where living conditions are said to be dire and the terrorists can apparently gain easy access group around refugee camp is in an extremely difficult humanitarian situation the total number of people in it's about fifty thousand of which about six thousand are militants controlled by the u.s. i discussed the disturbing situation at the camp with our correspondent marie. how on earth do they get into these refugee camps is it that easy for the militants to get inside it's not easy but you have to remember that it's very hard to detect them once a militant three is his weapon he look