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reserve, robert kaplan. is he in favor of a rate hike? alerts -- wouldn't you like one from the market when it might be time to buy or sell? with fidelity's real-time analytics, you'll get clear, actionable alerts about potential investment opportunities in real time. fidelity. open an account today. bar report federal reserve is phasing in a 90% chance of an interest rate hike. my next guest voted in favor of the first two interest rate hikes. joining me is the president and ceo of the federal reserve bank of dallas, robert kaplan. thank you for joining us. can you characterize the backdrop? you are actively considering voting yes for another interest rate hike come december in the december meetings? give us a sense of why that is the backdrop in terms of the economic story today. robert kaplan: here is the backdrop. our own forecast in the dallas fed is we'll go 2.5% in 2017. sluggish by historic standards, but sufficient growth to drive down the unemployment rate which is 4.1%. but more importantly, i loo

reserve, robert kaplan.s he in favor of a rate hike? bar report federal reserve is phasing in a 90% chance of an interest rate hike. my next guest voted in favor of the first two interest rate hikes. joining me is the president and ceo of the federal reserve bank of dallas, robert kaplan. thank you for joining us. can you characterize the backdrop? you are actively considering voting yes for another interest rate hike come december in the december meetings? give us a sense of why that is the backdrop in terms of the economic story today. robert kaplan: here is the backdrop. our own forecast in the dallas fed is we'll go 2.5% in 2017. sluggish by historic standards, but sufficient growth to drive down the unemployment rate which is 4.1%. but more importantly, i look at unemployed plus diskowrngd workers and people working part time. that's 7.9% and that's at a prerecession low. we think that will continue to decline. so we are getting near full employment. on the inflation front, a lot has been made that we a

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reserve, robert kaplan. is he in favor of a rate hike? ♪ dad: we walk inside... and it's raining... our home was ruined... we couldn't live there. mom: our first concern was the kids. this was going to be hard on them. chubb got us a place to stay in the same school district. otherwise it could have been a nightmare. dad... chubb turned a disaster into an adventure for our kids. mom... and no one missed a day of school. ♪ bar report federal reserve is phasing in a 90% chance of an interest rate hike. my next guest voted in favor of the first two interest rate hikes. joining me is the president and ceo of the federal reserve bank of dallas, robert kaplan. thank you for joining us. can you characterize the backdrop? you are actively considering voting yes for another interest rate hike come december in the december meetings? give us a sense of why that is the backdrop in terms of the economic story today. robert kaplan: here is the backdrop. our own forecast in the dallas fed is we'll go 2.5% in 2017. sluggish

we'll talk with robert kaplan. have a great rest of the week everybody. will see you again next time. thanks for watching. [♪] >> i'm bob massi. for 35 years, i've been practicing law and living in las vegas, ground zero for the american real-estate crisis. but it wasn't just vegas that was hit hard. lives were destroyed from coast to coast as the economy tanked. now it's a different story. the american dream is back, and nowhere is that more clear than the grand canyon state of arizona. so we headed from the strip to the desert to show you how to explore the new landscape and live the american dream. i'm gonna help real people who are facing some major problems, explain the bold plans that are changing how americans live, and take you behind the gates of properties you have to see to believe. at the end of the show,

robert kaplan said that waiting too long to tighten policy could put the centra bank behind the curve and increase the risk of previously he said he wast certain whether a rate hi was needed in december. kaplan is a voting member of the fed thiar. >>> as we mentioned the doum industrial average closed at a record today helped in part by shares of retailers. investors looked ahead to a possible senate vote on tax reform. here are the final nbers the dow added 22. to 23580. nasdaq lost 10. and the s&p 500 was off 1. with the dow at records and other indexes close to 1s, could the market power even higher heading to the end of the year? >> once again we're back at another new high and the market leader technology back at new highs. is this it? is this the top? some insist that it is, but for the moment the market shows no signs of leveling awe or pulling back. first, the advance/decline line, the number of stocks advancing versus those declining, it starts dropping fast. second the driving force in the market switches from buyers of stocks to sellers. but none of this has happened. the a

federal reserve bank of dallas president and ceo robert kaplan my special guest.irst the headlines that impacts everything from main street to wall street. the house passed its tax reform legislation thursday. most of middle class americans would see an immediate tax cut. and a larger child tax credit. 13

here's a sneak peek with special guest robert kaplan, the president of the federal reserve of dallas.f growing the economy, i think regulatory review if it's thoughtfully done would be helpful. and, yes, i have talked about the fact that tax reform, if it's reform, which encourages businesses to be more likely to locate9 in the united states, to do capital spending in the united states, to hire and build their businesses here, i think that could be positive. charles: that's tonight, 8 p.m. right here on fox business. also stay tuned because immediately afterward a new episode of bob massi, and he is, of course, "the property man," 8:ing 30 p.m. >>> more than 103 million americans have diabetes. coming up, we're going to talk about the warning signals and also finding a cure. we'll be right back. ♪ ♪ ity fund has exposure to energy infrastructure mlps? think again. it's time to shake up your lineup. the alerian mlp etf can diversify your equity portfolio and add potential income. bring amlp into the game. before investing, consider the fund's investment objectives, risks, charges, and

and robert kaplan talks about economic development. in texas.iss." julia: bloomberg >> you are watching bloomberg technology. let's get a check of your first word news. the committee on taxation says the senate tax bill will add $1 trillion to the federal deficit over a decade. it finds economic growth from the tax cut only will offset 407 billion dollars of the $1.5 trillion total cost. increasee bill will growth more than other models so far, but the analysis complicates the gop argument that the overhaul will pay for itself. house republican leaders plan to seek a two week spending bill to fund the government until december 22 two of lloyd a shutdown. current spending is set to run out on december 8. the plan has not been finalized, but it will buy more time for negotiation with democrats on a longer-term funding plan. trump will deliver his first state of the union address on january 30th. paul ryan formally invited him today. he called it an opportunity to lay out the work that needs to be done

. >> so where robert kaplan the other day suggested, and maybe it was his owner rational exuberance moment in some of the things he said about where as set prices are, commercial real estate, et cetera. and then ken griffin from citadel saying we're in the seventh inning that, yes, some assets are extended but it's not like they're completely outrageous. and there is not that level of euphoria that you would note at times of trouble where do you come down on that >> well, one fundamental statistic i think is really important. 1999, the price earnings ratio of the s&p technology sector, which is the biggest sector today and the one that had the biggest run, was 90 -- 9-0 and we're not talking about, you know, pet.com and all these internet -- they weren't in the s&p. in fact, aol was the only one in the s&p 500. and yet the pe was 90. people were going to ibm because it was cheap at 40 times earnings of the we have a 20 pe on the tech sector today we also had a treasury rate of 7%, 6.5 to 7 tips over 4. today we know. we're discussing -- we're going to get to 3 on treasuries and tips are ze

robert kaplan said my concern is you would create a bump in gross domestic product that would be short-term. we declined that back down with trend growth, you'd be more leveraged than when you started. san francisco fed president john williams said, a less targeted to raise productivity and underlying potential, a tax cut could feed unsustainable growth by asset price bubbles, inflation, and possible recession. why is now the time for added stimulus? especially -- i know you have been concerned in the past about inflation risks and fiscal risks in the past. were those concerns unfounded in the past? why are we being so procyclical right now? mr. hassett: i would share those concerns if the tax proposal was a demand stimulus. but the tax proposal is to stimulate supply. if you stimulate supply, there's more capital, higher labor productivity and you're making the workers that are already employed more productive because they have better machines to work with. that does not create a keynesian demand inflation spiral at all, but rather, the increasing capital supply puts downward pressure or a

the ability to be patient >> second question, powell's view on the levels of the stock market robert kaplansed a statement, he's more concerned of equities. it is going to be interesting to see if powell will raise rates because of the high stock market evaluatio evaluations are by the president's pick >> i don't think there is possibility of a delay i think he will go through the process relatively quickly the question is how quick the process is it may not get done before this year but certainly before januajanet yell yellen's term is up. steve, thanks. >>> though we have heard the skies have been fallen for months or if not years for some. it may be time to look up and listen up. some of the strategists are saying this incredible run maybe coming to a close. michael santolli with more on that story i would not say it is a predominant consensus now. we are in the ladder patter parf this cycle you married jeremy seagul of all similar calls. look, we still have things looking good and we have upside our stocks and the economy continues to grow but it is time expecting this cycle could end b

robert kaplan is under consideration.is one of the potentials and people out there. >> so the chance of getting it is pretty low? >> i am not sure if it is disquali disqualify >> depends on who you ask. >> i should be clear, maybe michelle does not understand this is not a presidential point. appointment >> this is made by the federal reserve board, approved by the federal board governors. there was talk under dodd frank and because this job is so important to make something of a presidential apartment that was not approved in the dodd frank regulations it is no t the president's appointment yet. >> it says here, steve, stay right there. where am i going to get? i don't think. i don't think you are a flight risk >> you just stay right there >> joe, welcome, do you have a perspective on who may have the inside track on this job and ho important is it? >> it is very important. i don't have any extra in siegs and ill also throw though kevin worshire name in the mix the understanding the regulatory nature of thing is very imp

among them, excuse me one second, the fed governor, robert kaplan, and simon potter who was sort of theber two at the new york fed right now running the markets group. this search is going to take six to nine months it's headed by sarah horowits, the head of the board of directors and private equity director who also sits on the board. they have hired two search firms. one is one who specializes in diversity. mike >> all right steve, wall street watching this very closely thanks very much >>> venezuela's foreign debt renegotiation committee will meet with creditors or at least some of them in caracas today. michelle has been covering this. >> normally with a country does a massive debt restructuring, what happens every banker, lawyer worth their salt gets on a plane all the investors go to the capital, you can't do that in this case because the venezuelan government has put two individuals in charge of the restructuring who are on the sanctions list by the u.s. government so in theory, you can't even meet with them the vice president of the country, but the u.s. doj believes he's a drug

i don't know if you saw yesterday what the dallas federal reserve president robert kaplan said, but heoncerns markets are currently overvalued and i'm paying more attention to this is what he said what do we think powell will do when it comes to market valuations and monetary policy is he a guy who could lean against the current stock valuations >> i think at least alt this point he's going to dance around that i don't think a fed chair nominee want to say markets are irrationally exuberant or undervalued. he'll say we're looking at financial conditions and taking those into account in our monetary policy. it might be later on he'll take a view that he is seeing certain markets as be frothy it would be unwise and highly unlikely he would do that at the moment >> steve, as we're talking, there's elizabeth warren as they go through housekeeping procedures prior to the statement and q&a. we're in a week where the consumer financial protection board has been in the news the white house just last night filed a response to leandra english's lawsuit saying a restraining order would be extraor

one more list to look at, a couple sort of fed current members, robert kaplan, dallas fed president,een mentioned along with fed governor lael brainard and simon potter. the search as i said, guys, will take six to nine months. if you want to know how important diversity is, they hired two search firms, one of those search firms, bill, specializes in diversity >> of thought? >> yeah. thank you, steve. >> calls for that, too. >> sorry for the awkward pause there. see you later. thanks that is an important position. >> well, and they had no -- as you see, there was more than 100 people who -- there's no diversity. so, understandable. >>> 12 minutes left in the trading session here the dow is up nine points. starting to lose altitude. we were down 78 points, up about 40 we'll see how he finish. >>> walmart announcing it's raising prices online to help drive traffic into physical stores as it competes with amazon ks'll debate which one of those stoc, walmart or amazon, is the better buy ahead of the holiday shopping season, next. se across web and tablet? do you want $4.95 commissions fo

good to talk to you -- >> for more join us on wall street week and 8:00 pm eastern tonight for robert kaplan: we have we get breaking news to bring to you general electric ceo john flannery acquiring 60,000 shares ge according to sec filing valued 1.1 million dollars filing says -- bought shares november 15 two days after struggling company when it announced would cut dividends 50% up 1/2 percent on news kevin kelly stock is down, 37% in 2017. >> a so mi stoke. >> what a story. >> show me stoke priced at market moiments don't appears appears like honeywell interesting thing about purchasing stock jeff immelt did this the stock always went down after wards just because buying doesn't mean the turnaround is going to take hold jeff immelt did it, it didn't work. >> buy at 18 and change? right you got to ask the question after high was 50 and change, we are watching tesla after semitruck veal good morning to you. >> good friday morning you are right watching technology, tesla electric trucks wave of the future reservations to may multiples tesla semitrucks, they actually noting that we believe e

at 12:30, we will hear from robert kaplan., david mel will be discussing the trump administration's economic agenda. alix: president donald trump nominating -- to the federal reserve board. we talked about the nomination. getting a very accomplished academic monetary theorist who can work very well with the staff in thinking about how to address any issues that may come up in the future. whether it is intentional or not, it is good to have not necessarily everyone who is the same, but people who have expertise in different areas. alix: joining us more is michael mckee -- joining us for more is michael mckee. what do we know about how good friend will affect monetary policy. michael: is a very well regarded economist with interesting views , more about process. he is pretty mainstream in that. they told us in march that interest rates were too low. you will love expect to see him pushing against raising rates. -- you will not expect to see him expect -- pushing against raising rates. when you get to the zero lower bound, he doe

in econ from princeton here are a few other names robert kaplan's name comes up.me came up as well as simon potter, the current new york fed exec vice president for markets group, and he is in charge of that. those are some of the names out there. six to nine months, they're saying taking it headed by sarah horowi tz glen hutchins, your friend of "squawk box. we'll see him. we'll cover this thing over time it's something that we're going to watch as part of a broad, broad change at the federal reserve that's happening as we speak. >> oh, boy >> ge sees as you see this the new normal was not going to be the free cash flow from the current year what was it? >> $7 billion. >> 7 >> that was the current year >> right >> and flannery said that's not going to be the new normal 2018 six to seven. $6 billion to $7 billion >> that's the new normal for the foreseeable future, or -- >> just they only got that one year then fiscal 2018 share view right now as 116, which is not great, i don't think i think that's come down from analysts, and now, therefore, casting $1 to $1.07.

pesar de la cancelacion, la concejal ''rebecca kaplan'' asegura que tocar el tema durante la reunion de esta tarde. -- hay controversia por la presencia de "robertcer", quien se hace llamar experto en islamismo radical y se presentar esta noche en la universidad de stanford. -- l fue invitado por un grupo de republicanos para exponer sobre terrorismo, algo que provoc el rechazo de quienes califican a spencer como un experto en promover el odio. -- autoridades descubrieron que decenas de personas fueron victimas de robo de su informacion personal ya que se instal un dispositivo que sustrae los datos de tarjetas de credito en el surtidor de una gasolinera ubicada en la calle primera en gilroy. -- la policia recibi alertas de las compaÑias de tarjetas de credito sobre posibles fraudes. -- aun no se sabe el monto total robado ni cuantas personas fueron estafadas. ---la familia del niÑo que salio disparado de un tobogan de un parque acuatico en dublin interpuso una demanda contra la ciudad por los daÑos que sufrio su hijo durante el percance. ---y aunque ya han pasado 6 meses, aseguran que el menor no ha logrado recuperarse al 100 por ciento... ni fi

kaplan. >> guest: and a bunch of other people including paula and robert mickelson and a bunch of others.so -- >> host: carrie, riverside, california. please tell us what you're reading. >> caller: oh, gosh, i am enjoying this so much. i wish i was there. the book is "the forgotten room." it's a his for call novel -- historical novel, and it's got three authors, which makes it interesting. i just love this book. >> host: and it's historical fiction you said, right? >> guest: yes. three time periods, one of which is world war ii, and it's sort of a family intertwine, and it's a mystery too. you don't find out until the end what's really happening. >> guest: does it actually take place during the war? >> caller: well, kind of. part of it does. like i said, it's three different time periods. it's, like -- >> guest: that's fascinating. >> caller: it is. >> guest: thank you for sharing that. >> caller: i couldn't put it down. >> host: for those of you in the east and central time zones. 202-748-8201 for those of you in the mountain and pacific time zones. mitch kaplan, historical fiction. i'm