and, robert kaplan, it's great to have you this weekend.s so much for joining me. >> great to talk to you, maria. maria: how would you assess the economy right now? we did get some okay numbers on the consumer this week, certainly retail sales and walmart numbers. it feel like the consumer is the best thing going for this economy. how do you see things? >> yeah, i think the economy's solid. we'll grow more slowly in -- for the rest of 2019, but i still believe next year we have a good chance to grow at 2%, and the consumer's the key to that. household balance sheets are in pretty good shape, and the job market's tight. and that's offset by decelerating global growth, mainly due to trade, weak manufacturing also probably due to trade, and weak business investment in the united states. but the consumer's 70% of the economy, so i think if they, if the consumer continues to be strong and the other weaknesses don't intensify, we should have not great, but we should have solid growth next year. maria: and, certainly, when you look at unemployment

plus, don't miss our exclusive interview with dallas fed president robert kaplan.berattack on business every 39 seconds. ouch. i don't even want to think about it. comcast business has a solution. we go beyond fast with a cloud-based security system that automatically updates, so you always have the latest protection. phishing. malware. risky sites. it can help block all of that. it's one less thing for us to worry about. comcast business securityedge automatically protects all the devices on your network. call 1-800-501-6000 today. of millions of americans during the recession. so, my wife kat and i took action. we started a non-profit community bank with a simple theory - give people a fair deal and real economic power. invest in the community, in businesses owned by women and people of color, in affordable housing. the difference between words and actions matters. that's a lesson politicians in washington could use right now. i'm tom steyer, and i approve this message. or trips to mars. no commission. delivery drones, or the latest phones. no commission. no matt

my special guest, robert kaplan the president of the fed and what the fed will do with interest rates mavericks is here. don't miss it. this weekend on fox news, sunday morning future on the fox news channel. house minority leader kevin mccarthy, my special guest, 10:00 a.m. eastern on fox news on sunday. every weekend starts smart with me, the couch. >> thanks for tuning everyone. bye. ♪ maria: good sunday morning, thank you so much for joining us, i'm maria bartiromo, joining me on sunday morning futures, committee chairman lindsey graham, senate republican are preparing for inevitable impeachment trial, kevin mccarthy on what to expect when democrats make impeachment public this week. house republicans have their own witness wish list that includes the whistleblower, will they get a chance to get questions answered and how is leader of the gop reforming the intel committee ahead of all of this, also with us this morning

my special guest, robert kaplan the president of the fed and what the fed will do with interest ratesavericks is here. don't miss it. this weekend on fox news, sunday morning future on the fox news channel. house minority leader kevin mccarthy, my special guest, 10:00 a.m. eastern on fox news on sunday. every weekend starts smart with me, 29 from mornings with maria on fox business. start your day with us every morning. that will do it for us right now. have a great rest of the weekend. i will see you again next time. ♪ >> hello, and welcome to the wall street journal at large. were less than one year away from the 2020 presidential election. at this week's election, president trump has a real fight on his hands. democrats who control both houses of the virginia legislator, they also one critical suburban districts in several states including pennsylvania. republicans picked up the race what he did to rally voters even though thet

my special guest, robert kaplan the president of the fed and what the fed will do with interest rates mavericks is here. don't miss it. this weekend on fox news, sunday morning future on the fox news channel. house minority leader kevin mccarthy, my special guest, 10:00 a.m. eastern on fox news on sunday. every weekend starts smart with me, >> majestic trees thousands of years old... >> these are the biggest trees i've ever seen, and they're beautiful. >> the redwood forest has been on the planet since the dinosaurs. >> then the ax men cometh. one makes a redwood his ultimate log cabin... >> what? >> ...a log-rolling attraction. it's her strange inheritance. >> i was the only child, so i knew i was always gonna get the log. >> but the road takes its toll. >> it's hard to be the log lady and have a life and be the truck driver and the repair person and do it all. >> she's got a big decision to make. >> she sure does, jamie. she sure does. >> and what happens when it's time for the log to be inherited

dallas fed boss robert kaplan has told bloomberg he is comfortable with the recent steepening of theield curve, saying it is a sign overall fed policy is in the right place. he has voiced concerns in the past that having the fed benchmark policy rate above the entire treasury yield curve was a morning that it set rates too high. he says now rates appear to be appropriate. former u.k. counselor is quitting parliament after being expelled from the conservative party, proposing boris johnson's brexit tragic. hammond says he made the decision with great sadness and that in the past, the tories always had a wide room for opinion. he was one of 21 lawmakers thrown out for backing legislation to stop a no deal brexit. global news 24 hours a day on air and on tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. china is setting the price for any interim trade deal with the u.s. -- drop the tariffs. beijing has reportedly asked the white house to rollback duties imposed in september and to withdraw the threat of any future tariff

my special guest, robert kaplan the president of the fed and what the fed will do with interest ratesks is here. don't miss it. this weekend on fox news, sunday morning future on the fox news channel. house minority leader kevin mccarthy, my special guest, 10:00 a.m. eastern on fox news on sunday. every weekend starts smart with me, >> the victors in the battle of little bighorn welcome an outsider into their ranks. >> once they trusted him, they would share things with him. >> he paints their portraits and gets the inside scoop on custer's last stand. >> white cow bull was the sioux warrior that shot at the officer. >> his life's work becomes this woman's strange inheritance. she's convinced it's worth millions, but will anyone buy it? >> was he an artist or just someone who documented a side of history? [ door creaks ] [ wind howls ] [ thunder rumbles ]

coming up in just a few moments, the head of the dallas federal reserve, robert kaplan, is here.n pro sports, mark cuban. he is with us as well. this week the white house signaled that negotiations for an initial u.s./china trade deal are in the final stages, but president trump is not ready to sign anything yet. i spoke with commerce secretary wilbur ross about the u.s./china trade d

coming up in just a few moments, the head of the dallas federal reserve, robert kaplan, is here.he white house signaled that negotiations for an initial u.s./china trade deal are in the final stages, but president trump is not ready to sign anything yet. i spoke with commerce secretary wilbur ross about the

economy. >> sure is joining me right now president of the federal reserve bank dallas robert kaplan,mr> great to see you. >> first let me get your assessment where we are retail sales number obviously, better than expected xautos it wasn't what is your reaction to economy when you see strength of the consumer versus capex and businesses uncertainty. >> the consumer strong 70% and any so we should should a solid economy going into 2020. you know household balance sheets are improved we got a tight labor market, having said that, primarily due to trade uncertainties and weak global trade global growth weaker manufacturing weaker business investment as you have been talking about is weaker. the good is those are smaller parts of the economy, the issue is if those issues get worse, do they spread to the consumer, at the moment, my view is o that i think we've got a good chance to navigate through that weakness, and have a solid year of growth in 2020. >> okay. so how do we do that then? is it going to be on consumer or do you think businesses are going to see through what is happening this

coming up in just a few moments, the head of the dallas federal reserve, robert kaplan, is here.fluential figures in pro sports, mark cuban. he is with us as well. this week the white house signaled that negotiations for an initial u.s./china trade deal are in the final stages, but president trump is not ready to sign anything yet. i spoke with commerce secretary wilbur ross about the

inside securities finally today, steve liesman had a great interview with dallas fed president robert kaplan of that let's listen in. >> my concern is if you have a downturn where we grow more slowly, it means that this amount of debt could be an amplifier, what do i mean by that, high percentage of cash flows spent on servicing debt. >> now, i can't think of anything i've ever agreed with more with regard to a statement by a fed official. but exactly what is he saying? what he is saying is all this debt out there makes him a bit nervous. should there be a downturn, shouldn't say should, when there is a downturn, it will take more cash to service debt, whether you're a corporation which he is really referring to or a sovereign nation and use your printing press the means to an end that only central banks are going to means they create a condition, their only tool, make rates low, make capital flow, make it cheaper, but it is also the enemy when things slow down they create and sew their own demise, and ultimately bbb debt, we mentioned it, why is everybody worried? that represents huge amoun

robert kaplan isn't a fan of negative rates.ey are an indication of growth slowing and should be a red light for policymakers. goldman sachs's ceo david solomon told bloomberg this week history would not remember the policy favorably. >> i think when we look back on negative rates, when the book is written, it will not look like a great experiment. i don't think negative rates are bringing that benefit we would like to see. there is no question growth in this part of the world has been lagging and negative rates have not allowed in the solution of growth, in my opinion. that was from our interview with goldman sachs' ceo this week in berlin. gregory perdon, co-cio of arbuthnot latham is still with us. two american perspectives on negative interest rates, the european phenomenon. your thoughts on whether we will say negative interest rate is worth it. kaplan was saying the ecb has tried to do extraordinary things. europe might be better served if the ecb tried to do less. gregory: i have a slightly different opinion from the gold

coming up in just a few moments, the head of the dallas federal reserve, robert kaplan, is here.hite house signaled that negotiations for an initial u.s./china trade deal are in the final stages, but president trump is not ready to sign anything yet. i spoke with commerce secretary wilbur ross about the u.s./chin

fed president robert kaplan speaks. discussestic also policy in new york.ndustrial giant expects a decline in volume next year, especially highlighting declining weakness in its software and automation division. they warned a downturn in some markets would weigh on its full-year goals. the bright spot, it did eat estimates with fourth-quarter profits and adjusted ebit-a ris ing. isning us from europe aeser.s ceo joe k first, i just want to get your take on the german economy. questions are starting to be asked whether we are finding a bottom in the global manufacturing cycle. do you think we have hit a bottom in the manufacturing sector in germany? the wholenot talk for german industry, obviously, because it is chemical and automotive's. what i can do is talk about my company, the space, the verticals we are in. quite a decline on the industrial valuations space. mainly the discrete factory environment associated with the downturn with automotive and toolmaking. is what we see is this leveling out over the next six months while our customers take charge in

robert kaplan says he believes policy is exactly where it needs to be.rom recent steepening in the yield curve. now is the time to observe the policy impact. he added that the u.s. economy remains healthy, the risks are tilted to the downside. treasury 10 year yields may surge while stocks grind higher over the next six months after the federal reserve's third interest rate cut, according to strategist at j.p. morgan. nikolaos panigirtzoglou is still with us. let's talk about that pull you are making in terms of what happens from here. why do you expect that 100 basis point rise in 10 year treasury yields and further moves in the s&p 500? nikolaos: the fed told us they are done in terms of rate cuts. any rate cuts, if they happen from here, will be because -- data'sata'd wakes wake. opinion,vitable, in my that the market focus will shift sooner rather than later. we are already seeing that in the forward curve. if you look at the spread of the one-month rate in two years time minus the one-month rate in one year, that rate is about to turn positive for t

su: we start with robert kaplan. he has told bloomberg that he's comfortable with the recent steepening of the yield curve, saying it is a sign that fed policy is in the right place. he's previously voiced concern about having the benchmark policy rate above the treasury yield curve was a warning that it had set rates too high. house, ao the white senior trump administration envoy has testified that the white house did pressure ukraine to investigate joe biden. -- in exchangege for an oval office meeting. the u.s. ambassador to the e.u. contradicted president trump's repeated assertion that there was no quid pro quo. he said he believed the investigation would have to happen before velotti mayor zelensky would meet president trump and that represents a quid pro quo. a veteran of the shale oil industry says the boom in u.s. production is coming to an end. producersys calls for to shutter rigs and stop burning cash are being heeded with output growth across the u.s. slowing. look fors the out oil is brightening. in hon

with the market outlook, let's get to steve liesman who sat down with the dallas fed president robert kaplan and made quite a few headlines. >> yeah, carl. the dallas fed president expecting a weak fourth quarter, but saying the economy should bounce back to 2% next year. 2% growth, he said, about as good as it gets for the u.s. economy. >> if you want to grow faster we need policies away from monetary policy monetary policy is not going to address this you need infrastructure spending, you need immigration reform, you need policies that improve education, skills training >> kaplan's big concerns for the economy, high corporate debt levels, specific worry the blooming amount of triple b debt, which is the lowest investment grade. >> it's not like an 809 because in that -- the problem with 0809 the lenders were overleveraged we have an issue where the borrowers are highly leveraged and my concern is if you have a downturn where we grow more slowly, it means that this amount of debt could be an amplifier. >> that is making the current situation worse in that event. now on interest rates, kapla

dallaswe heard from the fed president, robert kaplan yesterday, and he said the steeper yield curve is. could we hear something similar like that from charles evans as well? michael: we could. the fed generally thinks that is a good sign but not a definitive one. everyone of the fed i have spoken to says the yield curve does not send the same message you use to because so much cash fed's and from -- flows in from is not assigned necessarily that the fed is too tight in any particular area. by lowering the short end, they have steepened the yield curve. they feel that is at least a positive sign, if not a definitive one. tom p.: to pick up on that thread, because it is an important one. we have heard this from so many fed officials, the fed, some members were worried in the flatness of the curve. but now they are happier and that there is some steepness. thecommon thread is that curve does not matter as much as it did. so why are you trying to put in steepness? if you are going to be dismissive of it on both sides of the argument, that is a holy inconsistent idea -- a wholly inconsisten