we are continuing my conversation with federal reserve bank of dallas president and ceo robert kaplanbert, you just mentioned a moment ago automation and really the different structural changes that we are seeing in this economy particularly related to jobs. what do people do who are nervous that automation, technology, will replace them? how do you make sure you're best positioned for this new normal? >> yeah. so there's no question that automation is causing businesses to replace people with technology. and a lot of people say well, but this has been going on for decades. in my view, it's been accelerating in the last ten years, particularly with distributed computing power, meaning consumer has in the palm of his or her hand more computing power today than most companies did 20 years ago, and it's changed the pressure on businesses and the leverage the consumers have. probably in a positive way, but it means businesses have less pricing power, and the way they are responding to the loss of pricing power is to further automate in order to reduce costs. this is one of the reasons why

we are continuing my conversation with federal reserve bank of dallas president and ceo robert kaplan. robert, you just mentioned a moment ago automation and really the different structural changes that we are seeing in this economy particularly related to jobs. what do people do who are nervous that automation, technology, will replace them? how do you make sure you're best positioned for this new normal? >> yeah. so there's no question that automation is causing businesses to replace people with technology. and a lot of people say well, but this has been going on for decades. in my view, it's been accelerating in the last ten years, particularly with distributed computing power, meaning consumer has in the palm of his or her hand more computing power today than most companies did 20 years ago, and it's changed the pressure on businesses and the leverage the consumers have. probably in a positive way, but it means businesses have less pricing power, and the way they are responding to the loss of pricing power is to further automate in order to reduce costs. this is one of the reasons

dallas fed bank president robert kaplan told fox business' edward lawrence exactly what he's thinking about that now. >> we ought to be moving toward neutral, a rate which we're neither stimulative or restrictive at the fed over the next nine to 12 months ought to be raising the fed funds rate probably three more times, maybe three or four times to get to the neutral rate of around 2 1/2 to 2.75. liz: no tiptoeing around anything with him. he said three maybe even four rate hikes between now and the next 12 months? investors tend to fear aggressive fed rate hikes. you should fear or embrace them? to the floor show, we have steven gallagher. what did you make of that news and should the investor fear four rate hikes in the next 12 months? >> easy to say the next one or two they shouldn't fear at all. the fed is hiking on good news and the good news is fueling the equity market rally. as we get to three or four or perhaps more, that become the danger spot. the yield curve is flattening, potentially inverting and far more troublesome to the financial markets. shows the fed could be overt

robert kaplan will be my special guest. we'll talk interest rates with bob kaplan.ouse majority leader kevin mccarthy on sunday morning futures. plus start smart every day on the fox business network 6:00 a.m. to 9:00 a.m. eastern for "mornings with maria" weekdays. follow us on facebook, twitter and instagram. that will do it >> 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.

maria: robert kaplan. >> i thank you got a great track record.guess is, my guess is he'll be running again. we are sitting here talking aboute- w temyo wt was brought up in the presidential election in 16 that the candidate who suggested that we could grow at three or 4% was hillary - [inaudible] yet, here we are. change the perspective and attitude and way people think about opportunity. maria: let's talk about the issues that are of some concern to some, trade and tariffs. what is your take on where we are now with canada? china and the us has perspective china for the theft of intellectual property which dnghar,lcog it work? >> well, the answer is if i knew whether it will work or not, i would be rich. maria: i thank you are rich. [laughter] >> you have made me bad but i just don't think that people have looked at this problem from a broad enough perspective. let's take nafta. we created nafta 25 years ago. nafta was 50% foreign policy and 50% trade. what was the foreign policy? stop illegal immigration and solidify our neighbor to the south g

plus, later on in the program, the president and ceo of the federal reserve bank of dallas, robert kaplanjoining us coming up. but first we have the big headlines impacting everything from wall street to main street. geri? >> thanks, maria. hurricane florence has arrived and wreaking havoc in the mid-atlantic. the storm made landfall friday morning, pounding the

we were speaking with one really interesting guest earlier on, robert kaplan, i saw him walk past a minute listening, he was famously the one who wrote the cover story in 1997 "is democracy just a moment?" he was saying with president trump pivoting away from asia, it's basically providing an opening for president xi of china. think about it here. you have got, for example, the president of the united states pulling out of those big powwows asean and apec in november so president xi can swoop in like the most capitalist communist out there. the big guy. the big guy on the stage i will be the one who is championing free markets here. i will be your imf star back stop to countries in our region that have had currency crises. he can have the spotlight and china ha hs economic, political and military ambitions here, if the u.s. is not here, china has free rein here >> there's a couple of different questions i have about the region you have some conflicting forces there. you have the china pride they are an important player in the world stage, president xi has his pride. but you have a chinese

and also on the newshour online, best-selling author robert kaplan's book "earning the rockies" is ourtember pick for the newshour-"new york times" book club, "now read this." fight now, you'll find his recommendations fo inspiring books about place. that and more is on our website, www.pbs.org/newshour. and that is the newshour fort. toni i'm judy woodruff. join us online, and again right here tomorrow evening. for all of us at thene pbhour, thank you, and we'll see you soon. >> major funding for the pbs newshour has been provided by: >> consumer cellularieves that wireless plans should reflect the amount of talk, text and data that you usie we offer a v of no- contract wireless plans for people who use their phones a ilittle, a lot, or anythi between. to learn more, go to consumercellul.tv >> bnsf railway. >> financial services firm raymond jas. >> and with the ongoing support of the institutions and individuals. >> this program was madee possible by rporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. captioning sponsored by n

maria: all right -- >> that is what i would say. >> we will see you this weekend robert kaplan specialcold for camping? too hot to work? nah. this is the gator xuv835. with game-changing heat and air, it's never too anything for anything. 4 out of 5 people who have a stroke, their first symptom... is a stroke. 80 percent of all strokes and heart disease? preventable. and 149 dollars is all it takes to get screened and help take control of your health. we're life line screening... and if you're over 50... call this number, to schedule an appointment... for five painless screenings that go beyond regular check-ups. we use ultrasound technology to literally look inside your arteries... for plaque which builds up as you age- and increases your risk for stroke and cardiovascular disease. and by getting them through this package, you're saving over 50%. so call today and consider these numbers: for just $149 you'll receive five screenings that could reveal what your body isn't telling you. i'm gonna tell you that was the best $150 i ever spent in my life. life line screening. the power of pr

joining us special guest, dollars federal reserve president robert kaplan.he economy, charting the course ahead. before we get to the energy sector i want to ask you impression of the job numbers came out. 200,000 jobs created in august, better than expectations. how does this change your view of the economy? >> it is probably consistent with my view of the economy. it is a very strong report. it is reflective of a strong economy in 2018, a tight job market and the number i like to look at in particular is referred to in the lingo as u6, which is unemployed, plus discouraged workers, plus people working part time, would like to work full time. that is 7.4%. high every than the unemployment rate but it's well past its prerecession low. it suggests to me we have a strong economy, a tight labor market. >> number ticked down .1 from month to month. look at the average hourly wages they have gone up 2.9% year over year. >> yeah. >> does that cause inflationary concerns for you? >> we've been expecting, i've been expecting several months now that you would see the

kissinger, or robert kaplan, my book of the summer, writing about china and the pacific rim. that is the neorealist view. what is the neorealist it response? nouriel: the chinese know that on china, itariffs will increase the cost of lots of goods used u.s. consumers. 10% to getat it is pushed to 25% refers to they do not want sticker shock over the holiday period. at: but this is roubini 101 stern school at new york university. is ae able to say a tariff tax on the american consumer? nouriel: yeah, that is absolutely true. whenever you impose tariffs, it ,ncreases the price of goods for most of the business sector. and it is a very regressive tax, because those kinds of consumer goods from china are usually bought from walmart and others. so not only the tax, but it is an extremely regressive tax. tom: and the bottom line is this is not a tax on gucci, is it? francine: well, let me ask, away from gucci, is this a tax that could plunge the u.s. into a recession the next 18 months? nouriel: i do not think that alone will plunge the u.s. into recession. a variety of other facto

we spoke with your colleague robert kaplan from dallas who said look, we're talking about a 3% growth out to 2020, you're talking about all the way down to 1.9%. how do you get there? >> yeah, i think the projections are that the economy's going to slow but -- i think that's the right thing to base policy on, that that should be how you plan and then you hope for the best. you hope that productivity will improve in the u.s. economy and you'll get faster growth. that would be great news. if productivity would improve, but we need to see it before we can bake that into policy. maria: why all the projections that things will slow? i'm trying to understand what it is that would be causing the slowdown. >> the potential growth rate is thought to be only about 2% in the u.s. economy, maybe 1% productivity growth and 1% labor force growth. the demographics we'll probably not be able to fix anytime soon. if we're going to get sustained faster growth, it's got to come through productivity. there's a good angle on that story, because, yeah, you could see productivity improvement given all the f

longtime mercury news reporter trace kaplan plans to live out of a fan that she calls her studio apartment on wheels and gave our own robert one but two showers and has a full kitchen. we're back with more news in a minute. this'll be the first manned mission to land on the moon. neil, if this flight is successful, you'll go down in history. we're planning on the flight being successful. the entire world's watching. five... four... we need to fail down here so we don't fail up there. three... we've got this under control. two... you're a bunch of boys. you don't have anything under control! one... first man. rated pg-13. kidnapping. last year, "matthew muller" was sentenced to 40 years in prison for kidnapping "denise huskins" and drugging her boyfriend at their v >> last year matthew mueller was sentenced for 40 years in prison for did napping denise huskins and drugging her boyfriend at their home. today he pled not guilty to six state charges. the case is was so bizarre. police originally called it a hoax. investigators originally arrested mueller after a separate kidnapping attempt. the couple sued and the police and d