and the fed has made several proposals that would reduce bank capital and liquidity reserves for our largest banks. brainard voted against these proposals, noting the proposal would reduce high quality liquid assets held by about $70 billion. the fdic originally opposed the leverage proposal, as it would reduce bank capital by more than $120 billion. the fed is also looking at making stress testing more transparent, which could undermine the purpose of the tests. former fed chair fisher has called these deregulatory efforts "something i find extremely worrisome." chairman powell, please explain. would easing big bank capital and requirements, as the treasury department has proposed and your agency is following through with, not undermines safeguards that were carefully built up the last decade to protect our economy, which made the u.s. framework the gold standard that others around the world follow? should we expect to see further isustry consolidation deregulating big banks is a top priority for the federal reserve? it was discussed in the senate banking committee yesterday how the

consider quantitative easing negative rates and then that was you know the united states federal reserve bank a tweet from the e.c.b. draggy negative rates have been quite successful he said he believes negative rates have been successful so far in helping the european economy when the. european central bank drag mentioned this i will say this is the stock six hundred bank shares they plummeted so i don't think investors were happy to hear this from the european central bank no bank stocks and you know since the era of reagan you know the financialization of the economy has become the dominant theme in global economics so we're post manufacturing you know we entered into just a bank ponzi scheme economy globally that requires. continuous money printing as any ponzi scheme does so this idea of negative interest rates is the admission that simply printing money is not enough to keep the ponzi scheme going to have to confiscate money they have to confiscate money from people's accounts the negative interest rate is coming to your bank account soon as being done on the wholesale level right now b

nejra: this is the reserve bank of new zealand comes the latest central bank to join the shift, holding rates at a record low. the governor says it is more likely to cut them amid slowing global growth. today is the turn of are you draghi to speak as he directed the ecb and its watchers conference. is -- good to have you both with us. can goldilocks continue? >> goldilocks can continue so long as a few risks go the right way. we don't have a major advance of the trade skirmishes in the u.s. and china and the eu china stimulus starts to work and gain momentum. so long as europe gets out of its political quagmire. growth should improve. we should all become more risk on. nejra: we have been seeing gains across assets. look at equities and bonds. here today, both gaining. -- year to date, both gaining. >> from what we see now, the key question is the goldilocks question. what you have seen in q1 was that all asset classes saw gains. if you look in risk-adjusted terms, it is interesting to see a fixed income space, the high-yield space, the i.t. space, this -- to see best adjusted returns.

to monitor on the back of the reserve bank. to be high to providing an. outing money. to the community by making. money for a manufacturer to meet a better ongoing hike how many. are going to money on it why people are always needing more cramming and i haven't. idiot leave him. that's a contribution to the economy. regulatory system was established banks were regulated the commercial investment banks were separated cut back for risk in this practices that could harm private people. there had been remember no financial crashes during the period of regulation by the one nine hundred seventy s. that changed. the story getting that huge increase in the flows of speculative capital just astronomically increased an enormous changes in the financial sector from traditional banks to risky investments. complex financial instruments money manipulations and so on increasingly the business of the country isn't production at least not here. the primary business here is business. you can even see it in the choice of directors so the director of a major american corporation back in

williams, president and ceo of the federal reserve bank of ceo. he talked about monetary policy, interest rates and inflation at the economic club of new york earlier this month. >> the chair of the economic club and delighted to welcome you today to our 500th meeting of the club. so, it's a real milestone in our 112 years. [applause] >> during those years, the club has become the nation's foremost forum for discussion of economic poll in our country, across the world. before we proceed with our program, i'd like to remember a very special contributor to this legacy of the club. ray price, who recently passed away. ray was a long-term member of the club. he was a former -- the former board member and club president and i'd like us to have just a moment of silence in his honor. [moment of silence] >> i would now like to recognize our 280 members of the centennial society, many of whom are seated on the dais or elsewhere in the front of the room. and you really are the lifeblood of his club and you make the programming at the club possible and i rea

personally back on the show max always a pleasure michel block is ben bernanke in the federal reserve bank in general the cause of the rise in socialism amongst millennia leads absolutely max i rode out on the financial times the other day but i had already come to that conclusion long ago and we've talked about it many times max by bailing out the banks by driving up asset prices and then keeping students trapped in student loans for something like forever they can't afford houses it's no wonder that we're seeing this rise of socialism tax the wealthy just take it from them elizabeth warren is pounding the message to harris and california spending the message that no darling all of this of course is a oh say who wants to spend somewhere between fifty three and ninety three trillion dollars on a green new day oh that can't possibly work financially but it doesn't matter they're upset and we're saying this rise of the radical left right so the fact is that the idea. of distributing wealth that is generated by the state already exists in the united states it's called monetary ism and you hav

center reserve bank the european central bank the bank of england the bank of japan they are fifty sixty seventy percent leveraged much more leverage than long term capital management ever was much more levers and lehman brothers or bear stearns ever was there's a most leverage hedge funds that we've ever seen in the history. skullduggery but it doesn't matter because they can print and buy back their own cycle profitless prosperity and then one day like wiley coyote over the cliff chasing the road runner there's that moment of recognition and. oh there you go it's all right. i mean more to gain is an outstanding person because he took on the most powerful agency in this county or you'll be to stay if you look at it from the analogy. marc was the day that when he was five and. do going to be in the sheriff's most contentious critically he is the first time i noticed something wasn't right in fleece work pretty much when he first started the corruption in palm beach county is not something that you can smell it seems like it's a nod and a wink it wasn't what i wanted to do. we've had more

set a reserve bank the european central bank the bank of england the bank of japan they are fifty sixty seventy percent leveraged much more leverage than long term capital management ever was much more lovers and lehman brothers or bear stearns ever was there the most leverage hedge funds that we've ever seen in the history of hedge fund skullduggery but it doesn't matter because they can print and buy back their own cycle profitless prosperity and then one day like wiley coyote over the cliff chasing the road runner there's a moment of recognition and then. oh there you. see. such konami foam on smoke by the only coming off of them a month to month one of them for appointments to november was done well so because of stuff to get a. lot of thought up was all but i just i think that. she was you make an. agenda but from the sun on my book you go to the british bush that's enough of them. i mean you got. to. take a. third time lucky for theresa may british lawmakers roundly reject the prime minister's last ditch attempt to force her divorce deal through parliament. u.s. secretary of state

federal reserve bank the european central bank the bank of england the bank of japan they are fifty sixty seventy percent leveraged much more leverage than long term capital management ever was much more lovers and lehman brothers or bear stearns ever was there the most leverage hedge funds that we've ever seen in the history and hedge fund skullduggery but it doesn't matter because they can print and buy back their own debt in an instant cycle profitless prosperity and then one day like wiley coyote over the cliff chasing the road runner there's a moment of recognition and then oh oh oh oh oh oh oh oh there you go it's all. gone there was a crack seized to do crack when i was. ok my dad he was like. just so you know like what i needed when i was a baby boy. there's always single mothers in african-american communities ever since slavery. i think it's more of teenagers having kids. you can't expect a fourteen or fifteen year old first daughter to order for him to be a far there any check out. the last place on. my car and breaking down i was unable to get to work on time sunday let me get

several reserve bank the european central bank the bank of england the bank of japan they are fifty sixty seventy percent leveraged much more leverage than long term capital management ever was much more leverage than lehman brothers or bear stearns ever was there the most leverage hedge funds that we've ever seen in the history and hedge fund skullduggery but it doesn't matter because they can print and buy back their own debt in an instant cycle profitless prosperity and then one day like wiley coyote over the cliff chasing the road runner there's that moment of recognition and then. smoke. them in their mug them up on the limb for one of them to know them better than one photo of himself to get a. close up look. just as. she. looks to go to the british were stepping up themselves. i mean. if. britain's bricks and nightmare prime minister to resign made divorce deal is defeated for a third time leading to fears of a disorderly exit from the bloc in just two weeks time. people are reported dead as tens of thousands rally along the perimeter fence between gaza and israel to mark one year

expected to remain elevated but they are coming off a low base your this is something even the reserve banklia, something the bank governor -- two out for the third years ahead on repayments. this is thanks to low interest rates, keeping borrowers afloat. the other thing is employment is strong. the unemployment rate, 5%. a number of bondholders are pointing to this. australia aaa rated securities have a defensive play. nevermind the gloominess of the price falls in the moment. adam: -- shery: labor market numbers very important for the rba. we will have more. paul: expected to hold steady, a current rate of teen thousand jobs added for -- at the current rate. 15,000 jobs added for february. it is noted any sustained downward trends in jobs, unemployment begins to pick up, that is one of the key factors that could lead to a cut in the cash rate. unemployment numbers in australia are famous for throwing up all sorts of surprises. the leading indicators going into this are mixed, drawbacks declining. the vacancy rates are high. and the way they run the survey, every now and then they rotate o

security but also how much respect government has for the various institutions we have such as the reserve bank the central bureau of investigation all these issues will be debated and the attitude of the government in bar as well as the attitude of the opposition will become big factors in how the voting goes. well once the election is over and once. the new politicians are in power what do they really need to do what do you think they need to do and that they can do well i think india like many other countries including the countries of the industrial west need to really think about the distribution of bar within the country in the west we see a great dissatisfaction with bar having migrated outside the country into the international arena but even within country as for example in the u.k. there's a lot of concern in the north of england that too much power is there in london i think germany is different because right from world war two there's been more decentralization but you hear of some some momos even in germany i think you have a similar issue in india that there is a sense that the st

the reserve bank of australia leaves the target unchanged at 1.5%.t's going on, we turned into a bit of a spike just to the upside, but that has gone back to where we were before. a sanguine reaction. let's find out what the mood is like over there in me. paul allen is giving us the take. >> thanks. so far, no fresh commentary from the reserve bank of australia, no change to the cash rate, as predicted by all 31 economists who have been there for two and a half years now. the rba is saying there is progress in jobless numbers, and that is true. the unemployment rate is very healthy, saying this unchanged policy is consistent with sustainable economic growth. growth has been something of a concern, not just here in australia, but globally. that has been on the radar of the rba. this is one of the reasons the governor shifted his stance earlier this year from tightening to a more neutral bias, saying that the chances of a cut versus a hike are now more evenly balanced. in terms of house prices, which are coming off the foil in australia, that gives the

the former governor of the reserve bank of india said the bank of japan and ecb are wanting -- runninghe governor of the bank of india said while the u.s. has room to cut rates, tokyo and frankfurt have done as much quantitative easing as they can. they will have to look for other solutions. >> the problem with the ecb and bank of japan is they have negative interest rates. as far as qe goes, they have done what they could. whatever effect this has had is out there. they need more ammunition in the central bank tank. we need to look for other instruments. ramy: the philippines at risk of posting its worst expansion in eight years with a delay budget approval prompting cuts in growth targets for this year and next. the secretary of growth said gdp could expand 4.8% at best, the slowest since 2011. growth would be above 6% if the budget goes through. indonesia's next election is being targeted from china and russia in an attempt to disrupt the result. a senior election official said there have been a wave of cyber strikes, and they included attempts to manipulate content and create fake

the reserve bank the european central bank the bank of england the bank of japan they are fifty sixty seventy percent leveraged much more leverage than long term capital management ever was much more lovers and lehman brothers or bear stearns ever was there the most leverage hedge funds that we've ever seen in the history of hedge fund skullduggery but it doesn't matter because they can print and buy back their own debt in an instant cycle profitless prosperity and then one day like wiley coyote over the cliff chasing the road runner there's a moment of recognition and then. oh oh oh there you go it's zero. zero zero sir. you have to get up off the ground search begins with your. name freeze on the sounds or maybe. mislead especially if you're going to go. drew is drawn. to wish to do away from the officer of the toyotas crew. the obvious or did they kind of lunge for the weapon once missed and then when it happened on tree swung at the officers hands didn't hit them i never saw any contact between the two and any kind of went back to where they were so the officers back here there tr

holders to monitor on the back of the reserve bank can create around and call behind them i didn't want to commenting money on banks or of the community by making. money for a manufacturer and i'm even going. to unlock them remodel her car and her money on her own reasons why people are always needing more and have immediately available. that's a contribution to the economy. regulatory system was established banks were regulated the commercial investment banks were separated to back her risk investment practices that could harm private people. there had been remember no financial crashes during the period of regulation. by the one nine hundred seventy s. it changed. the story getting the shoe increase and the flows of speculative capital just astronomically increased and enormous changes in the financial sector from traditional banks to risky investments. complex financial instruments money manipulations and so on increasingly the business of the country isn't production at least not here. the primary business here is business. you can even see it in the choice of directors so the direc

you see the federal reserve bank says they will -- you see the federal bank says they will hold that. when we look at the business community, there was a lot of noise in the middle of the summer because they thought it was short term. the longer this goes on, the more action that will take place to move production to vietnam. steve, a rust belt resident, you are on with our guest. what arerofessor hill, the amounts of the tariffs that were collected and how it is being used? it is helping cash it is helping -- it is helping any of the communities? what you think the effect would be a both parties are working together to show solidarity with regard to our trade policy to bring balance trade the president is trying to achieve? guest: that is a good question. i don't know if the answer will be as good as the question, but i will try my best. there has been an inflow from the tariffs going directly to fund its operation. it is pushing against the large deficit we have. remember, the deficit is forecasted to be 5% of gdp in 2019, which is quite large. secondly, there is a series of papers

let's talk about this planned economy this command and control economy that is run by the federal reserve bank other central banks ultimately control and commanded by the bank of international settlements. you know we've got a situation here where the monopolization the banking industry has led to no competition and they were awards going to mal investment and bad behavior so j.p. morgan they're caught in criminal schemes they get a small fine and they get promoted and they get hit ballad money and they keep interest rates low which of course are used to do things like the carry trade where you can borrow in japan and invest in a high yielding consumer a currency and make a rest plus two or three percent multiply that with their evidence make a restless twenty percent so they are literally just printing money for themselves all day long that's done incentive to do good in fact it's an incentive to do bad and is my question is this dr michael hudson you're a smart guy you are the story in you wouldn't you would know the history of this it seems like never in the history of economics going back

a lot of economists think the reserve bank is going to cut bank reserve requirements. in china has refrained from cutting official interest rates, but it has got this targeted easing program to cut these requirements lesser year and will probably do so this year. last, then forget the chinese government bonds is going to be added to blake barclays aggregate bond index in phases, but starting in april. that is something that should help bring foreigners in. yields will stay low and prices can go up. anna: we should ask you our question of the day, we been asking it overnight. what canfollow to -- wake of volatility from its slumber? started,here we something the fed it says could fedt volatility, i guess -- says could wake volatility, i guess. wes: if the fed can't, i don't know what can. the lastking at meeting and the s&p 500 rose 1.6%. it has not risen or fallen that much since then. maybe the fed will make things up again today -- wake things up again today. matt: wes goodman, thank you. i want to point out this chart that was put together earlier. volatilityfects o

maria: joining the conversation this morning, minneapolis federal reserve bank president, neil cash karithe moves we've seen in bonds. these are two important interviews coming up in terms of markets hand they tell us about a recession potentially. lyft priced their initial public offering last night at $72 a share, that values the company at more than $24 billion. this company is going to start trading today on the nasdaq. lyft setting the stage for rivals like uber reportedly looking to go public next month. joining us right now is chief revenue officer phil haslet. it's going to have you on the program. >> good to be here. maria: your reaction to what we're seeing this year in terms of all of these ipos, kicked off by levis last week and lyft today. >> we're pretty excited at equities end, that 2019 will be a banner year for ipos. we had a lull the last few years. we think a combination of low market volatility and a lot of these companies growing to be 10, 12, 13 years old are going to finally test the markets here. maria: is this a good thing for the markets. >> >> yeah, i think so.

reserve. investors were alarmed that the u.s. central bankjay powell, the fed chairman and his colleagues, seemed to be hell bent on raising interest rates. many powell had indicated the

taxpayers are on the hook for it don't look good point you know the banks can when they make a loan they print that money that's not from reserves they're not lending money out that's in the bank to a business that's come from deposits that they have no reserves they have negative reserves they just loan of when they loan out for a mortgage or a business they print money into existence that's why the debt goes to twenty two trillion dollars over time and you're right they are did steal savings alone trick old the old f.d.i.c trick is like you know the government's going to bail you out no matter how much of a serial fraudster you are and the federal government always belle's them out because who makes the regulations the same bankers yes but again that's why it's in the constitution the constitution mentions gold and silver as money only for the state if the state wants to trade with france and go into debt it must be backed by their currency must be backed by gold and silver so they don't bankrupt their citizens and residents of the other states of the. united states so here we have a situation exactly what was warned about in

the federal reserve bank of minneapolis president neel kashkari got what he wanted haas week, no plansin 2019. despite that victory, he's taking an issue with how the federal reserve came to the decision. he said that the he has serious beefs with how the fed is assessing the economy, having an important conference next week, an event in minneapolis to talk about it. neel kashkari will be a voting member of the federal reserve next year, and he joins me right now to explain. it's good to see you. thank you so much for joining us. i want to get into what you'd like to see happen next week, but first, the big news of the week was that yield inversion. short-term rates higher than long-term rates. and a lot of people worry that that is an indicator that a recession is at hand. how to do you see it? >> well, it's the best indicator we have of all the data that we look at historically in predicting recessions. so it's something that i'm certainly paying a lot of attention to, i think my colleagues are. at a minimum, the bond market is signaling slower economic growth for the next few years