. >>> robert kaplan tells cnbc that criticism from president trump won't influence how the central bank makes decisions saying he's happy with four rate hikes this year. >> what i'm focused on is making good assessments of the u.s. economy, the global economy, good monetary policy decisions, without regard to political influence or political considerations i'm very confident we'll continue to do that. >>> australia prepares to swear in its sixth new prime minister in a decade. scott morrison wins a political leadership vote and outlines his first challenges >> to ensure we not only bring our party back together, which has been bruised and battered this week, but that will enable us to ensure we bring the parliament back together, that we can continue to work to ensure our country stays close together >>> thank you for joining us the latest round of trade talks between the u.s. and china ended without a break through. conducted by mid-level officials, expectations for the talks were low after president trump said he did not expect much progress. in a statement the white house said the tw

robert kaplan speaking at jackson hole today. caroline: time for our business flash.a project to develop flying cars including companies such as uber, boeing -- it were in boeing. first time. for the a big transaction in the energy business. spectra owns -- two high-profile share firms have, against blackstone's $3.7 billion cash bid for lasalle hotel properties. lasalle shares are trading above the blackstone offer. that is your business flash update. check out g tv on the bloomberg where you will get all of the things you see on the bloomberg care. we have been looking at the correlation today of what is happening in china and how that impacts the s&p 500. impacts the s&p 500. may be throwing trump a bone as we have seen to be strengthening. ♪ >> this is bloomberg markets. options insight. >> joining me today is matt .chapiro thank you for taking the time. happy friday. it feels a little slow. we have these record highs for stocks. what do you think about that? >> no one would have thought the market would be in this position with the negative political news ,

tomorrow we of interviews with fed president jim bullard, robert kaplan.his is bloomberg. ♪ vonnie: live from new york, i'm vonnie quinn. the bloomberg for foods. looking at alternatives to your favorite. this is the cover of last week's issue of bloomberg businessweek. we spoke to the ceo about changes in the company and how he is conducting his challenges including trade tensions. >> for everybody to understand is the u.s. is so incredibly competitive as it relates to agriculture and when there are issues that are creating uncertainty, that is not good for companies like tyson. we have to focus on getting to certainty. the uncertainty is what creates problems. forof countries looking feeding people and having supply chains in place they want to maintain. any disruption creates turbulence. protein isestic important, but exports are nearly as important in terms of making sure our system is healthy. >> we have a breakdown of your meat.e by meet -- i know beef did well last quarter. we have seen lower beef prices and so more demand for things like burgers, c

has been so incredibly kind to us if we just enumerate the blessings of our geography in fact robert kaplan did just write a book with exactly that. so we have a lot to be thankful for. we could have been somewhere else we could be born or living in a place but what i have observed generally is that man and women when subjected to stress start to lose those higher-level functions of the brain to generate very rapidly the reason why i am interested in autonomy and artificial intelligence because i feel short of reprogramming communities bring, the only way to create a better world is to reduce the amount of stresses that cause us to activate the part of our brain that we act like a snake or some other form of reptile we have done worse so whether that proves to be true or not we say people in richer countries generally they behave better. what does that mean? so being richer makes you a better person? i can tell you there are wonderful people everywhere about what makes people better is when they know they have food on the table with fundamental security nobody is coming after the banging on

ross told the "wall street journal" he had pushed back on a timeline >>> and dallas fed president robert kaplanexpects three or more interest rate hikes over the next 9 to 12 months notably he's not a voting member and won't be until 2020. >>> today the fed will release minutes from its latest meeting with investors keen to find any clues about the possibility of two additional rate rises. stay tuned, cnbc will find out if the mountain air can clear the heads of the world's top central bankers. we are live from jackson hole where steve liesman will speak to fed policymakers. >>> i'm happy to bring in christopher smart, the head of macro economic and geopolitical research at bearings first, thank you for waking up early to speak with us on this show i know it's early for you over there. just taking a step back and talking about the u.s. economy, s&p has just made new intraday record highs the economy seems to be on good legs the fed is tightening. do you see this momentum continuing over the next 12 months or so >> i think it's hard to see right now what will disrupt the current trends if you lo

but there are central bankers, and that is something robert kaplan brought up as a risk. he talks about turkey in argentina being a risk for the u.s. federal reserve policy. michael: i talked to a number of the fed policymakers here. they all say emerging markets and the fact that the dollar is very important in borrowing is a risk, but they are not overly concerned about it now. they also have to be mindful of the fact that their job is to do with the u.s. economy, and if others have made mistakes, they may have to pay for those mistakes. the fed cannot be a proactive central banker to the world. they can take into account the effects it could have and how it could be bound in the u.s. economy, but they cannot make policies based on others. vonnie: michael mckee will stay with us. he is in beautiful jackson, wyoming. he will bring us more interviews throughout the day. markets not reacting too much following those headlines. the s&p 500 is at a third of 1%. us as well asng reporter gina. let's start with you, gina. atare still saying spreads about 20.5 basis points in eq

oil is still below that is one of the risks that robert kaplan talked of today, if we had some kind ofprice spike. the south african rand, a little bit of a bounce, 14.31 after all the hoopla when president trump suggested there might be a reason to get involved in south african internal politics. you can see that we have stocks across the board moving higher. argentina is an exception and turkey is well. -- as well as. we may still be on holiday in turkey. the renminbi has been bouncing around all over the place, countercyclical. that has the renminbi back to 6.80 today. have a look at commodities, it is higher all over the place including gold, back above $1200 for the first time in several weeks. romaine: let's get back to jackson hole now. loretta mester gave us her take on raising rates and her take on the yield curve. for raising interest rates i think is compelling. we have an economy growing above , and, lower unemployment inflation basically at our goal of 2%. we have been trying to engineer, calibrate our policy path to the so this gradual increase in rates seems to be a very

shery: thank you so much, ron. , tomorrow we will have interviews with fed president, robert kaplan.that. and if you did miss out on any of the charts we showed you throughout our programming, g tv is your function. you can save them and use them for future reference. live from new york, this is bloomberg. alex: saudi arabia puts the aramco purchase on hold. this week marks the annual trek across the u.s. midwest. an in person look at the condition of soybeans. we dig into the gold's yearly decline. ♪ i'

: ho geography shapes america's role in the world" is a short butwe ul and provocative book by robert kaplan, a mix of road-trip, memoir, history, and political analysis of where we've been and where we are day. i've been reading it with pleasure, and i hope you will too, in our "now read this" book club, a partnership with thek "new ymes." you can join us-- some 60,000 members and growing-- on our facebook page. >> woodruff: and tonight, online, we'll be posting results from the closely-watched primary races in arizona and florida. you can follow them live at www.pbs.org/newshour. all that and more is on our website, www.pbs.org/newshour. d that is the newshour for tonight. i'm judy woodruff. join us line, and again right here tomorrow evening. for all of us at the pbs newshour, thank you, and we'll see you soon. >> maj ulwshour has been provided by: >> consumer cell. >> financial services firm raymond james. >> babbel. tea language program that hes real-life conversations in a new language, like spanish, french, german, italian, and more. >> the ford foundation. working with visionaries on

we have a full slate of interviews with fed officials including james bullard, loretta mester, robert kaplanl bostic. a whole slate you don't want to miss plus the pga tour commissioner joins us for an exclusive interview at 4:00 p.m.. ♪ francine: guilty as charged. lawyer admits to making payments as his former campaign manager is convicted. supporters the witchhunt continues. will mexico seek to deny the existence of the nafta handshake? the peso pairs its gains.

this fridays robert kaplan who was -- this was from robert cap plan who was on our show. this, he said i don't see it. >> there's a difference of opinion between the fed and the white house and between wall street and the white house. there's a lot at stake in this. the white house acknowledges we'll have trillion dollar deficits for a couple years. they say the deficits are going to disappear over time because we're going to have sustained strong growth. if we get the sustained strong growth, they're right, the fed is wrong, and we have a much better budget situation. if the white house is wrong on this, then we have a big budget problem looking out. and this also has a big impact on well-being. if we get the 3% growth that we're talking about, the economy doubles in size over 24 years. if it takes -- if we have the 1.8% growth the fed is talking about, it takes 36 years to get that kind of economic growth doubling of size. there's a lot at stake here. the forecasters have been wrong before. we can say the fed -- can't say the fed because it says that, that it's right. s

we have live interviews from jackson hole including cleveland fed president loretta mester, robert kaplane: i want to check in with nela richardson from edward jones who is still with us here. disordered react to what we heard from jason furman. it is so interesting the idea of credit, isn't it, for economic growth? but leaving that aside for a moment, as we have been discussing, there are clouds on the horizon nonetheless. of the concerns that jason highlighted, what is the biggest with right now? nela: the biggest risk, and this is always true when we reach this point of a cycle is that the fed will overshoot and raise interest rates faster than the economy can stand. and that will get this really weird mix of indicators where inflation, excuse me, interest rates are rising and growth is slowing. . we don't want to see that that is the biggest risk we see to the generally positive economic outlook. and then of course, tariffs. that is something that the market is responding to. we saw that $15 billion in goods of tariffs go into affect between china and the united states is weak, and we

. >>> coming up later on closing bell, an interview with robert kaplan live with steve liesman, 3:00squawk alley" is up next don't go away. it's absolute confidence in 30,000 precision parts, or it isn't. it's inspected by mercedes-benz factory-trained technicians, or it isn't. it's backed by an unlimited mileage warranty, or it isn't. for those who never settle, it's either mercedes-benz certified pre-owned, or it isn't. the mercedes-benz certified pre-owned sales event, now through august 31st. only at your authorized mercedes-benz dealer. >>> good morning, 11:00 p.m. att at alley bab a headquarters and 11:00 a.m. here. ♪ ♪ ♪ ♪ >>> happy thursday welcome to "squawk alley." i am jon fortt at post 9 with morgan brennan, sara eisen carl has the morning off going to get to a lot. we begin with ali baba earnings, posting a miss on earnings, seeing shares rise after reporting a surge in revenue and average mobile monthly users josh lipton is in san francisco with more. >> the largest player in china reporting surging growth and estimates driven by core business steals climbing 61% to 89

robert kaplan really lit up when he was talking about the strength of the u.s. consumer. is there such thing as a decoupling economically, where we can stay strong when the rest of the world is weakening? >> yeah, sara, i know this topic comes up every time there's a divergence in performance. we were talking reverse a few yeersz ago when em and international was outperforming the u.s. significantly i think in the longer term basis markets do tend to move in sync with each other. but the valuation and quality of earnings we're seeing around the world is telling us at some point there will actually be a convergence rather than a convergence happening or a decoupling >> and the convergence favoring which areas? >> we like non-u.s. equities. and where we like outside the u.s. is in developed markets, in europe, for example, as well as emerging markets despite the volatility that we're seeing now. emerging markets had a very strong year in 2016, up almost 12%. and last year was the best performing equity class, and so being down 9.5%, 10% this year after two strong years is p

. >> and fly fishing >> thank you gentlemen, thank you >>> big lineup of guests to come robert kaplan comes up later today. james bullard, loretta mester and many more will come tomorrow >>> pasta lover, take your marks, including dom here. in just minutes from now, olive garden is about to put on sale its never-ending pasta passes. a new feature this year. we'll explain. the most unusual dangerous job we ever had on "power lunch," a snake milker, but not getting milk, he's extracting venom. we'll tell you how much he gets paid i can already tell you it's not enough we'll be right back. today, there are more sensors on our planet than people. we're putting ai into everything, and everything into the cloud. it's all so... smart. but how do you work with it? ask this farmer. he's using satellite data to help increase crop yields. that's smart for the food we eat. at this port, supply chains are becoming more transparent with blockchain. that's smart for millions of shipments. in this lab, researchers are working with watson to help them find new treatments. that's smart for medicine. at

than we have seen in prior fed minutes i didn't see any discussion when they might want to pause robert kaplanllas fed had just given a speech where he said it would probably be appropriate for them to pause when they got to the neutral rate that would imply two or three more rate hikes. kaplan said we should just stop at that point. i don't see any discussion from them whether that would be appropriate. it would be nice to know how many people feel that that's the case that's the issue, how many more times are they going to hike the rate finally, wouldn't you like to hear the paragraph, members discussed how they could get the president to stop telling them what to do it would be nice to see that they actually had a discussion around that. >> i think we will never know. >> i think that would embolden the president even more. >> yeah. >> just ignore him. >> thank you bob. >>> let's check on the bond market rick santelli tracking the action at the cme. rick >> tyler, if you are watching up on the board and looked at 2s, 5s, 10s, 30s you wouldn't have seen much. there could be a late reaction i