jmportedfinfletionrwhichrim psct reserve bank of jmportedfinfletion—which—impsct reserve bank ofis very closely watched by here —— 77 here——the policymakers here —— the reserve bank of poucyz 55 ,, . wiping away some $90 billion dollars off the company's however, that figure was below what many analysts were expecting. year, describing it as a �*once in a lifetime' business opportunity. our north america business correspondent, but the results were overshadowed by weakness in the cloud computing unit, and profit and sales guidance short of estimates. reported a i9% rise in revenue to around weak cloud numbers. at a time when investors have grown increasingly new ai models, and claims amazon, like microsoft, has already made deepseek�*s the japanese prime minister shigeru ishiba is in washington to hold his first meeting steel to buy us steel. will see things differently. trump has previously said he would also block deal but the two companies are definitely to save the example the boss of deal. for example the boss of steel met with deal. for example the boss of s on l met with d

of zone of the reserve bank of and apart from the india and apart from that the indian governmentboost 757,7— e 7g”) oi the gdp and that nearly 60% of the gdp and that is why it is important. now what happens it is a big impact for middle and lower income who wanted to buy houses groups who wanted to buy houses because homelands are more affordable hope this affordable and they hope this will provide added in stimulus to indian economy. 0ne thing they are closing and on a day—to—day is the declining ruby and basis is the declining ruby and thatis basis is the declining ruby and that is a concern given the threat of a possibility "s—ss “29" �*t�*: —-aa�*s'i. " ~ ,,,, ~ . a donald trump tariff 7 a donald trump tariff hike7 7.7 the rupee to gecause the rupee weakened to all—time low because it inflationary pressures {pearls inflationary pressures come back and also ihiilatioh would also imported inflation would also reserve bank of india's impact reserve bank of india's monetary and that is monetary policy and that is something is being closely something that is being closely watched

that is south african reserve bank governor -- that is a south african reserve bank governor at the g20 jennifer zabasajja in cape town at the g20 meeting of central bank and finance ministers. donald trump said tariffs do to canada and mexico next month will go ahead even as u.s. -- one u.s. official cautioned the schedule could be less certain. >> the tariffs are going forward on time and on schedule. this is an abuse that took place for many years and i am not even blaming the other countries that did this. i blame our leadership for allowing it to happen. who can blame them that they made these great deals and took advantage of the u.s.? >> for more on the market impact, valerie tytel. and how the markets been adjusting? >> the fx markets are still have a complicated time pricing in this risk. we saw an effect on the canadian dollar weekend on these headlines and it goes to show just how much canada has toulouse. we had the bank of canada governor last friday say in a speech that if these go ahead it could didn't long-term growth of canada by 2.5% of gdp. a lot of brinksmanship ahea

stimulus to the indian economy. low at over 87 rupees to the dollar, because that would mean the reserve bankdia's monetary policy. so that's something that is being very closely watched by policymakers over here in india. despite the retail giant doubling its profits. computing unit and profit guidance for the current business opportunity. our north america business correspondent that beat analyst expectations, with a strong in the cloud computing unit and profit and sales guidance reported a i9% rise in revenue to around $28.7 billion, just shy of wall street's expectations. amazonjoins microsoft and google in reporting the company is also contending with the fallout she gave me her take on amazon's results. and we saw that run up in their share price over facing some headwinds. factor cited for the weaker outlook for 01. google and microsoft. particularly in the second half of the year, that it expect to see the web server aws growth accelerate once again once it can meet consumer demand. but i wonder as well if some of them took fright at that scale of the investment in artificial intelli

bank safe? we tried to give them assurance, but i said to them, ma'am, i'm going to be talking to the chairman of the federal reserve tomorrow. with this dim munition or shuttering, at least, for the time being, of the cfpb, can i tell mary from virginia that her bank account is safe? chair powell: they are saved overall across the economy, we still have positive insurance in the banking system is well-capitalized. sen. warner: i think that the concern being raised was over the dim munition of consumer protections and her concerns about the dollar being safe. the last thing i want to recognize is, you know, there have been reports in the media about the sin this in the treasury markets. -- thiness in the treasury markets. what to do with these unpaid tax cuts. one of the things that was striking to me was that yesterday the president mentioned how he was examining treasury debt payments for possible fraud, suggesting that the debt may not be as high as possible. we all understand the full faith and credit of the united states is based on the reputation. if this president were to suddenly say that i'm wiping out this

will never have a central-bank digital currency. is the federal reserve or any of its member banks conducting studies either for retail or wholesale purposes? >> i mean, we are not doing any work that is designed to lead to a retail cbdc. we don't have a legal authority to do one. the notion of a wholesale cbdc is not when we think about or accept. take fed wire. fed wire is a real-time digital process are of dollars every day between banks. is that a cbdc? >> the gentleman's time is expired. >> chairman -- the gentleman yields back. chairman garcia is recognized for five minutes. >> now questioning chair powell. collects pleasure visiting with you. i'm going to talk about a topic that boasts congressman gonzales and representative presley brought up which is something i think does impact the federal economy but i know it certainly does impact my district in texas. i'm concerned about president trump's mass deportation efforts and the impact on your dual mandate. i believe the last time you were in front of this committee, i asked you about the impact imm

the reserve bank of australia cut its cash rate by 25 basis points to 4.1% saying progress had been madeation though it was still cautious about the outlook. told me this did not come as a surprise. rate because core inflation has made pretty good the end of the year last year, the governor stood up it's in striking distance of our target band, which is 2% to 3%, and that was enough for the rba to pull i think what is weighing on their mind in particular is just how tough it has been for variable borrowers across the country. points of tightening, and unlike many other countries around the world, the majority of australians let's get some of the day's other news now. meta, facebook�*s parent company, says it plans to build a risk to global economic growth. the australian company reported an 8% decline in revenue as a result of lower prices for commodities. acted in good faith. it could be a hoax. still to come... around the world and across the uk, this is bbc news. you are with business today. musk has described it as "scary smart". according to xai it represents a major step forward, i

in fact, i'm listening in to the governor of the reserve bank of india the’reserve bank of india he's th3f37'373 $333 77 that the t'm3 h3“? th3'37'373 $333 77 that the rbi tlm3 “fig? th3f37'373 $333 77 that the rbi will expectation that the rbi will go in for that record rate cut, the first time nearly five the first time in nearly five years, as you mentioned. the one we saw was in 2020, last one we saw was in 2020, may, soon the pandemic then the says rates then yse says rates hiked in and they maintained level. 7 level. believe is the time, 27: 7 the governor the governor alluded a short while back saying to a short while back saying inflationary pressures are within the rbi's comfort finance the finance minister presented budget on saturday in which the budget on saturday in which the budget on saturday in which the thrust was to boost consumption and spending, about 60% of india's gdp. she revised 7 slaps to put the income tax, slans te nutr r money in the hands of more money in the hands of so pop rate cut could =e= be a fiscal stance in that because it would be direction because

banks safe? we tried to give her assurance, but i said, you know what, ma'am? i will be talking to the chairman of the federal reserve tomorrow. with this diminution or shuttering at least at the time being of the cfpb can i tell, i believe her name was mary from virginia her bank account is safe? mr. powell: i think bank accounts overall across the economy are safe. yes. we still have deposit insurance at the fdic. and the banking system is well-capitalized and safe. sen. warner: again, i think the concern being raised was the diminution of consumer protections lent her concerns about being safe. last thing i want to recognize is there have been reports in the media about the thinness in the treasury markets. the number of additional bonding we are going to have to do particularly with so many of these unpaid tax cuts. matter-of-fact, one of the things that was really striking to me was yesterday the president mentioned how he was "examining treasury debt payments for possible fraud" and suggested our debt may not be as high as possible. we all understand the full faith of the united states is based on a permission.

uncertainties and scenarios with the wars breaking out as well as the inflationary pressures. of the reserve bankf india. of india's gdp. so that's why it's very important. so what happens now? and lower income groups who are possibly because home loans become so they're hoping that this is going to provide but the one thing that they really are closely of a possibility of a donald trump tariff hike. because india's rupee weakened to its all time low at over 87 rupees to the dollar, because that and also, you know, imported inflation would also impact so that's something that is being very closely watched by policymakers over here in india. $90 billion off the company's value, despite the retail giant doubling its profits analysts were expecting. amazon though did announce that it will spend about our north america business correspondent ritika gupta has more. amazon posted sales and profit in last year's final quarter. holiday shopping season boosting its retail business. weak cloud numbers, with big tech ploughing billions of dollars in al and claims that it can be built at a fraction of the co

geoff: austan goolsbee, president and ceo of the federal reserve bank of chicago, thanks.tan: great to see you again. ♪ geoff: from elon musk gaining unprecedented access to sensitive government information to democrats trying to build what they call a bigger and better party, we turn tonight to the analysis of capehart and continetti. that's washington post associate editor jonathan capehart and mathew continetti from the american enterprise institute. david brooks is away. good to see you both. so donald trump and his allies are making quick progress toward their stated goal of the deconstruction of the administrative state. we have takeovers and the hollowing out of major government agencies offering severance agreement to government workers, federal grants and loans now tied up in the courts. are the shockwaves being felt across the government signs of a super committed new administration shaking up the status quo or are we witnessing the full assault on the limits of executive power? jonathan: both. both. remember, donald trump campaigned -- he told us this is what he

the latest report from the federal reserve bank of new york shows credit card debt was up to $1.7 trillion024. that's up from $700 billion in the first quarter of 2021. the report also showed american households are becoming seriously delinquent on their auto loans and credit cards. now at 14-year highs. >>> it's not toilet paper americans are hoarding these days, it's eggs right now. and retailers have started limiting the number of egg cartons shoppers can buy as a result. at trader joe's, customer only buy one or two dozen a day. at kroger, some storms have implemented a two-dozen-limit per trip. the egg supply has been fried by a bird flu outbreak that's persisted since 2022. >>> tiktok is back on apple and google app stores. the chinese-owned social media app was removed to comply with a new law that banned it in the united states and made it illegal for u.s. app stores to have it available. but president trump paused enforcement of the ban with an executive order. mr. trump said apple and google would not face penalties for keeping the tiktok app on their sites. >>> new reports say t

credit card balances have hit an all time high of more than $1.2 trillion, according to the federal reserve bankyork. overall household debt is also at a record high, more than $18 trillion. this surge in consumer debt suggests many americans are struggling to keep up with rising costs. and check this out. a humpback whale briefly swallows a kayaker before releasing him unharmed. it happened last weekend off the patagonia region of chile. the young man's father captured the moment when he thought he had been eaten alive. both made it safely to shore. we don't know if the young man's name is jonah. coming up, a sharp drop in the number of college aged students has the u.s. on the edge of it demographic cliff. and we will also have this stor. >> i am elise preston in los angeles where we take a ride with street medics who are prov ing care to the unho >> john: more than 700,000 americans experienced homelessness last year. in tonight's in-depth, cbs's many lack adequate medical care. in tonight's in-depth, cbs's elise preston found one initiative in los angeles where the doctors aren't in the hous

on average, the federal reserve bank of boston estimates the core inflation could rise by 2.2 percentage points. if a 10 percent levies imposed on imports from the rest of the world and towers on chinese imports rose to as high as 60 percent. while the us based non partisan tax foundation says that trump to target from mexico, canada and china implemented what amount to an average tax increase of moving to $800.00 per household in 2025. now, industries and consumers in different countries based on certainty, over trumps terrace, to protect the citizens, nations could challenge the measures of the world trade organization among other steps. but do trump's reciprocal types as a general principle, violate w t o rules. but according to the trade body, member nations are allowed to impose tactics on impulse which can differ depending on the item being port. so for example, a nation can impose a 10 percent levy on rice imports out of 25 percent target on car imports, but they have to extend the same basic rate to all members. egypt, for example, wouldn't be allowed to impose a 2 percent duty o

said yesterday that as long as you're chairman, the us will never have a central bank digital currency. is the federal reserve or any of its member banks currently conducting any studies on cbdcs either for retail or wholesale purposes? fed chair powell: i mean, we're not doing any work that is designed to lead to a retail cbdc. that's just, that's not happening when we don't, we don't support one. we don't have legal authority to do one. so no, the notion of a wholesale cbdc is really not one that we think about or accept, you know, we have take fedwire. fedwire is a real time, you know, digital process of trillions of dollars every day between between banks. is that a cbdc? >> the gentlemen's time has expired. >> gentleman yields back, the generalwoman from texas, ms. garcia is recognized for 5 minutes. >> thank you, mr. chairman and chairman powell, thank you so much for being here today. it's always a pleasure visiting with you. i'm going to talk about a topic that both congressman gonzalez and representative presley brought up, which is something that i think does impact our federal economy, but i know c

paying banks still not to put their capital at risk in the market. interest on excess reservespart of the '08-'09 financial crisis you didn't even pay banks for reserves and now you're paying for unlimited reserves. to what extent is that distorting the market by pulling capital out of the market. >> none, none at all. you're right people are unhappy about the price level and what we need is several years of we will wages moving up higher than inflation. >> if it's having no impact why is the fed paying interest? what is the rationale monetary policy or regulatory policy? as chairman barr pointed out you're effectively gold plating the standards and u.s. is actually holding way more reserves than we're requiring toen and part of that is roer. >> so what's your question? >> if it's not distorting the market, what's the purpose for doing it? it if it has no impact on the market, why are you doing it? >> it's way we control, exercise interest rate control in the market. >> it has an impact so i will have questions for the record and i'll yield back. >> the gentleman yields back. a

he serves on the federal reserve bank of new york. he's he's an institute of international finance. he's a partner in new york city. he serves at the metropolitan of art. these are the business, the council of foreign relations, the world economic forum, business roundtable, mba out of columbia. and he went to the university of melbourne to get his b.a. degree. he is morgan stanley, composer has 10 million and his share values 25 million by third example is as judith missick. she's at morgan. she's also the board of in-q-tel, which is the cia's technology management foundation. so the board of directors of general hewlett packard and she just and she until recently was the ceo of kissinger associates kissinger of course is past but she's down on a down days on board of of a large for foundation all the american actually foundation which supports us british relationships. she worked at lehman bank barclays but she was the deputy director of the cia. from 1983 cia. from 1983 to 2005. and there was one other woman who was in the cia as well. so they have intelligence connections her mo

us make sense of it all, we're joined now by austan goolsbee, president and ceo of the federal reserve bank back to the news hour. >> thank you for having me. amna: 143,000 jobs added, a bit lower than expected. we sought unemployment ticked down to 4%. wages rose. what do all of these numbers think about where we are? >> there are a lot of numbers and you want to be careful over indexing on one a month. it was 150,000 plus or -100,000. most measures of the job market have been pretty solid, and they are largely saying the economy as settled in at something like full employment. always in january you have these big revisions, and this was the biggest revision in some time looking back on the previous year, but we have had a lot of variability. last month's number got a revised way up, so we will have to look for the through-line and not overreact to one month. amna: the big revisions down, there are technical reasons, but does it say to get that maybe the economy has been growing much more slowly than we previously thought? >> i don't think so, because as i said we have a lot of measures of

. >> there were headlines about the fact that reserve banks had been buyers, that the comments aboutt knox being empty or not empty. it was too many people, the boat had become too crowded. maria: that's what they call a crowded trade, right? >> yes. maria: john, i think the big story of markets has got to be interest rates and yields this morning. let's take a look at the 10 year. it has come way down and scott bessent has told me he's focused on the 10 year, he said on sunday when he joined me on sunday morning futures, the 10 year has been down for five straight weeks, now sitting at 4.26%. they may have to balance rising inflation against economic growth concerns. you said earlier you think the yields are dropping because the economy is slowing. philadelphia fed president said the policy rates are restrictive enough for the central bank to keep lowering rates and lowering inflation while signaling support for a pause in rate cuts, he says let's pause and watch what happens, john. your reaction. >> i think that's true for the time being but i'm with the credit market right now, ac

i happen to know a lot about the chicago federal reserve bank, the regional a bank, and they are involvedhey're worried about head water pipes. charles: yeah. >> now, i don't like lead water pipes, but we have an persian -- epa. we don't need the fed involved in these things. i think we can clean house in the fed and cut their budget. remember, they're losing money today. charles: yeah a. >> their losing $100 billion a year, and yet they're still ex3e7ding resources in areas that have nothing to do with monetary policy. charles: you know, i know you know a lot about the fed. you and i pet if at the federal reserve, one of the region regional federal reserves 20 years ago a or something, and it was love at first sight, man, i appreciate you. have a great weekend. >> all right, charles, you too. charles: i always thought there was a big difference between entrepreneurs that start business and those later on hired to run them. really last year we saw the difference, what their respective proxies, right? silicon valley, the entrepreneur if really lurching and embracing president trump whereas

the law allows the federal reserve bank to issue additional currency on good assets and thus the banks that reopen will be able to meet every legitimate. the new currency is being sent out by the bureau of engraving printing in large volume every part of the country. it is sound currency because. it is backed by actual good assets. another question that you will ask is this why are all the banks not to be reopened at the same time? the answer is simple and i know you will understand it. your government does not that the history the past few years shall be repeated. we do not want and will not have another epidemic of bank failures. no, this is less than 100 years ago, and i think it's fair to say that. 1933 is in the early modern era. but it's really something we can relate to. today is it? it's very difficult to imagine because of the things that would happen after. i mean, nowadays, the financial sector and the banking have many more regulation in place. one of the things that comes out of the first hundred days is known as the fdic, the federal deposit insurance corporation, in whic

a former policy advisor at the federal reserve bank of boston.w ww round—up comment things r more jp comment things ri more i- commen eh become more expensive? the answer is _ become more expensive? the answer is simply _ become more expensive? the answer is simply no. it is not clear— answer is simply no. it is not clear- what— answer is simply no. it is not clear what will answer is simply no. it is not cl terms what will answer is simply no. it is not cl terms of what will answer is simply no. it is not cl terms of transactions in some numberof w in some number of cents and in some number of cents that— and in some number of cents that is— and in some number of cents that is not— and in some number of cents that is not divisible by five, we have _ that is not divisible by five, we have a _ that is not divisible by five, we have a cents piece which we have a 5 cents piece which we have a 5 cents piece which we call— we have a 5 cents piece which we call the nickel. but it is likely there will be some up likely there will be some - upl it - like

balances hit a new all-time high of over $1.2 trillion according to a new report from the federal reserve banks alexis christoforous is here with strategies for lowering your credit card debt. hey, again, alexis. >> hey, janai. with credit card interest rates averaging more than 20% it's a good idea to make paying down debt a priority. so, if you carry a balance on more than one credit card make sure you always pay at least the minimum. but then you want to focus on paying down the total balance one card at a time. so you can start with the card that charges the highest interest rate to help you wipe out your debt faster or use what they call the snowball method. that's where you pay off the card with the smallest balance first, then take the money you would have used to pay off that card and put it towards paying off the next one. this may take a little bit more time and money but it could motivate you to continue paying off that next credit card. if you can't pay your credit card bill in full each month, try to pay more than just the monthly minimum and here's why. the average credit card ba

. >>> meantime, credit card debt has hit a record $1.2 trillion, according to the federal reserve bank of new york, which said the increase was hardly due to holiday spending and stubborn inflation. making matters worse, credit card delinquencies are high as borrowers have had a hard time paying off their balances. >>> and the afternoon nba team is worth over $4.6 billion, that's according to cnbc sports official nba valuations out today. that puts the league in between the nfl and the nhl, topping the list of the most valuable teams is the golden state warriors, worth $9.4 billion. the new york knicks and l.a. lakers round out the top three. slam dunk contest tonight. >> slam dunk con tefrtcontest. the moment has passed, download the app while you can. thank you. >>> and still to come, a real life jonah and the whale. a kayaker caught on camera swallowed whole and spit back up by a humpback whale. you'll have to see it to believe it. >>> plus, the president's day sales have officially begun. you can save big later on "nbc news daily." if you take or have taken humira for moderate to s

today, the chairman of the kansas city federal reserve bank, jeffrey schmidt, warned the fed might have to keep interest rates high to fight price inflation, even as economic growth slows and possibly stops a dreaded scenario known as stagflation, something us hasn't had to worry about since the 1970s. now, last year, economists were talking about how many times the fed might cut interest rates. now they may go higher. that, along with inflated prices, is killing an already tight housing market. listen to this. this really blew my mind today. the national association of realtors announced that pending home sales dropped 5% last month to their lowest level since the group started collecting those statistics in 2001. think about that. pending home sales today are lower than they were at any point in the great recession. no wonder the consumer confidence fell this month. in fact, it was the largest single month drop in consumer confidence since 2021, back when the post covid supply constraints spiked up prices. and it's not just consumers. business leaders are already starting to sour on t

you are paying bank still not to put their capital at risk in the market. interest on excess reserves going back to the 2008-2009 financial crisis, you didn't even pay banks for reserves. now you are paying them for an unlimited amount of reserves. to what accent is that distorting the market likely capital out of the market? mr. powell: none, not at all. you are right that people are unhappy about the price level, several years of riches -- rep. davidson: what is the rationale for the policy? is it monetary policy or regulatory policy? as chairman barr pointed out, you guys are gold-plating the standards and the u.s. is holding way more reserves than we are required to. mr. powell: sir, what is your question? rep. davidson: if it's not distorting a market, what is the purpose for doing it? if it has no impact on the market, what are you doing it? -- why are you doing it? mr. powell: it is the way we exercise interest-rate control in the market. rep. davidson: it has an impact -- i yield back. >> the chair recognizes the gentlelady from ohio, ms. beatty, for five minutes. rep. beatty:

the federal reserve has an important but narrow role to play with respect to climate change. that is to focus on risks from climate change to bank safety and soundness and financial stability. the pilot climate scenario analysis conducted by the federal reserve is an important step forward in assessing the capacity of the largest banks. as well as in building our own capacity. to perform the kind of analysis increasingly crucial as risks arise for more severe weather events became a driver of financial risks for specific firms and broader economy. guidance for the largest banks also plays an important role in reminding banks of basic principles and prudent risk management as it applies to these types of climate risks. in conclusion, the united states of the benefit of a strong vigorous economy. the deepest and most liquid marketsin the world and critical place in the world economy to the role of the u.s. dollar. the federal reserve has an essential role in maintaining the strength and resilience of the same economy. including direct vigilance about adthe risks are discussed today. a strong and resilient banking system benefits t

. >> rosie, reserve bank of san francisco. >> please speak up, we can't quite hear you. >> i was wondering if the level of income and wealth inequality effects the way you look at path ways out of poverty or just general mobility. >> i'm sorry, i couldn't hear it. it's just me. >> i'm wondering if the level of income in wealth inequality, which has reached like gilded aged levels lately. if that changes the way you study people's life chances if they are able to, you know, get education and improve their income? >> well, think about this, right. whether we're looking at, you know, a level or a rate, if we believe the narrative that starting position is really rather relevant, right, look, the reason that we have either high levels or high rates of inequality, some might even view that as being a good thing and we want to see more in what regard. so there are risk takers and first movers who are getting out front and they're bringing new products and services to market and as such, when those products and services are beneficial that they should get the lion's share of the benefits and that

banks competitiveness. he went in the wrong direction. with the federal reserve commit to a more thorough impact analysis for finalizing capital requirements to ensure they don't hinder economic growth? >> yes. >> regulatory overreach disproportionately impacts community and regional banks which do not pose risks yet they face the same environments as large institutions. many of these banks serve as lifelines for rural communities at first-time homebuyers. chief of the federal reserve to protect these institutions to ensure they are not subject to 1-size-fits-all regulations. what steps is the federal reserve taking to ensure new regulations don't force consolidation in the banking industry, making it harder for smaller institutions to compete? >> we see the consolidation that has happened in the last 30 or 40 years, community banks going out of business, fewer and fewer banks and we know that may be happening due to technology and various things but also people moving to cities and away from rural areas but we don't want our regulation to foster that. we try har

bank regulator for 110 years. and in that time, the federal reserve has exercised its independent judgment about bank regulation, about bank supervision, about bank enforcement. i think that has served the country well. i don't think we want other entities trying to influence, for example, whether a bank should be rated a three, of four, or a five. i don't think we want other entities saying we should or shouldn't issue an enforcement action on a bank for a violation of the law. i think that independence has been a critical principle in my judgment, and one that ought to be respected. >> hi, i am a former student. fascinating to hear you talk about emerging technologies and how this is developing the financial system. for all the talk about the new efficiencies versus traditional finance, lower cost, not a lot is spoken about how regulators might benefit from block based technologies. is there some talk? is the on chain regulator coming soon? is this something exploring these efficiencies from the regulatory side something that is being discussed? >> i think that regulators can benefit from technology of all types, an

europeans could also confiscate the russian central bank reserves that are frozen. enough money to tide the ukrainians over and not increase the budget problems in the european union. but america has the ultimate trump card, and that is that if they are not happy with the way europe has behaved, they can withdrawal nato soldiers from europe, and that would put the europeans in a very difficult situation. i think that is the threat they are going to make. caitriona: is the concept of a deal further away than president trump may be presenting? he says at the press conference in mar-a-lago today that he would welcome european peacekeeping troops in ukraine. he wanted to see that. he does not want it to fall to the u.s. but you have minister lavrov saying it is completely unacceptable to russia to have eu troops under a nato flag or any other flag in ukraine. sir bill: first of all, it is kind of crazy for donald trump to say he wants the european union to put soldiers on the ground, but he's not allowing the european union to participate in the negotiations. so i think

bank lending intentions. >> yeah. >> i mean, you would see it. >> certainly, by the way, that they are reserving now, banks overall aretty well reserved for any. >> type. of shock. >> but you know, if there is additional uncertainty, particularly. for the global banks that do tend to have more exposure to these. >> types of. >> sectors and these. types of risks, you could start to see them reserve a bit more if they're worried about some losses related to some of this uncertainty, and then they'll they'll pull. back overall. and for those that they do decide to lend to, they'll charge more for it. so it's certainly. >> something that at least. >> in 2018, 2019, we saw. >> a real tangible. >> impact from the trade war that may play a role this time around as well. >> all right. yeah. yet another factor to watch. leslie, thanks so much. let's get over to steve liesman for. >> more on his flash. >> fed survey. steve. >> hey, mike. you know, it's hard to get economists to agree on anything. they are nearly united in believing that the tariffs on china and mexico and canada would reduce u.s. growth and boost inflation, tho

banks under 10 billion in assets. but the cfpb essentially took all of that when dodd-frank came into being. >> so as it was created, when you two were working together, the federal reserveborated with the consumer bureau when supervising those large banks. correct? >> yes. we still retain supervision over all the holding companies and also of fed member banks. >> and let me ask you this, then, does the federal reserve enforce consumer protection laws now for things like money transmitters. >> not for money. >> that would be the consumer protection. that would be cfpb. >> yes. >> okay. and so when we're talking about collaborating with the cfpb for financial technology firms, what would the fed reserve now do that if the cfpb if the if the hypothetical is the cfpb no longer exists, what would be the fed's role right now with respect to technology firms. >> we don't have jurisdiction over we have jurisdiction over banks and some financial market utilities. >> so let me ask you this because i know there's a number of nevadans who file consumer reports of concerns about fraud and predators with the cfpb. the fed reserve doesn't receive those reports. correct? >> no. >> i do

we've gotten some recent readings from the federal reserve district banks of new york and philadelphiashowing us some of the highest readings on prices paid and prices received by regional manufacturers since early 2022. we're seeing the steepest upswing by these indices since the start of 2021 but on the other hand we're getting warnings from walmart of slower consumer spending and on top of that we have that weak reading on jobs growth for the month of january. so the fed might be stuck between a rock and a hard place and the inflationary pressures that are not going away may delay what turn out to have been badly needed rate cuts and that's how we get into this recession that dennis gartman is referring to. cheryl: dennis, it's always great to see you and speak with you. thank for joining us. >> always an honor to be asked. good to see you. be well. cheryl: you too. john, you're going to stay with us all morning long. coming up, a key news conference between zelenskyy and president trump's ukraine envoy was canceled as the deal on rare earth minerals falls through. indiana congressw