in the near term, what mario draghi has to say tonight in washington, what vice chair stanley fischer has to say tonight at the same event is going to be pivotal here. we see the dovish comments from either of those bankers, central bankers, i should say, that that is going to put some pressure on the u.s. dollars and it would help this risk environment in the equities market. that could set the stage for further gains. that meeting is going to be very important. back to you now. >> sri, thanks very much. >>> now, professor hans veteraner sims has long been a vocal critic of the ecb, criticizing central bank policies which create imbalances and heighten ricks for the eurozone's member state. as ecb's vice president will be, quote, significantly larger as a result of his latest measures and then struck a warnings including over outright monetary actions. >> according to its opinion, omt is illegal. that is the promise to repurchase government bonds of a problematic country. >> and stay tuned. we'll bring you more from our interview with hans wernor sinn in the next hour. >>> another ma

you think about a long-duration strategy. >> clearly, that is not stanley fischer. that is bill ackman. the fed is expected to raise the benchmark interest rate sometime next year. some question whether that might be too soon given what we have seen in the markets. a potential merger in the railroad industry will not be happening at least for now. rejected a proposal sometime in the past week. a deal would have created a rail specific transcontinental reach. if there will be another offer. down 11% bill ackman on the first day of trading in amsterdam. panic and redemption define investors. here is what he said. >> we are not berkshire hathaway. that is not a bad business model. you think about a long-duration business strategy. we will buy large stakes in public companies like we have in the past. do you think of yourself more like warren buffett? a betterk that is choice. i'm friendly with mr. carl icahn . in terms of investment strategy, we are much more like berkshire hathaway. the first time, someone has contracted ebola inside the united states. is hazardous ma

. >> stanley fischer, vice chair at the fed.amation slowing growth coming front and forer, back on the radar investors. his point was this, that in growth outside the u.s. continues to disappoint, this is something the fed must consider, may actually push them to delay or reduce scaling back and pushed back tightening. push back the interest rate hike everyone says could come first quarter, second quarter, first half, second half of next year. let's listen to how he phrased it. the devil is always in the details here. occur onlyng should against the backdrop of a strengthening u.s. economy and in an environment of improved household and business confidence. the stronger u.s. economy should directly benefit our foreign trading partners by raising the demand for their exports and perhaps also indirectly in lifting confidence globally. the consequences to the u.s. economy could lead the fed to remove accommodation more slowly than otherwise. other words, the risks to the u.s. recovery have increased. let's take a look at the u.s. d

stanley fischer says a slowdown in the world economy could undermine u.s.d to a delay in raising rates. he may be, and -- he made the comment at the imf meetings in washington. most expect the rates to raise next year. truck drivers getting set up with barricades in hong kong. had to come between protesters, who want the and theators to end, demonstrators themselves. hong kong's chief executive says the government will not allow demonstrators to occupy the streets much longer. it's been about three weeks. warren buffett rules out the berkshire hathaway plan. he lands to license the name to europe and asia. 1400 u.s. estate agencies expected to use the berkshire happily home services brand name next spring. those are your top headlines. of francerole wednesday nobel prize in economics. known for organizational research. out of the university of toulouse. looking at regulation and how financial systems should and should not run. er thisrole, sole winn year. different from the three last year. >> i want to point out i'm very impressed that you are familiar wit

let's look to stanley fischer. >> the stronger u.s. economy should directly benefit our foreign trading partners by raising the demand for their exports and perhaps also indirectly by boosting confidence globally. if foreign growth is weaker than anticipated, the consequences to the u.s. economy could lead the their motions. >> he was talking about how the central bank used the importance of international economy, not so much domestic growth. how surprising is what he said? consistent with the kind of reassessment of the global economic position. dollar and rising weaken growth in europe and japan and concerns in china give the fed cover to remain lower for longer. >> do you think we will end up having to deal a the rate hike? >> we are not forecasting that delay it but we think mid-2015. it removes some of the concerns about an early reduction. time, almost every time over the past several months when it seemed as though the fed had reason to stay lower for longer, the market rallied. that's not what is happening now. you've got some

we have heard from the likes of stanley fischer, the fed vice chair, who is ready to say low rates for longer, but equity markets are not responding anymore. >> let's review the data. we have had gdp data in the u.s. there is a lot to do with sentiments. it comes back to the same thing. wobbly.r is the earnings numbers are very critical. i expect financial to report strong earnings. they don't have a hard number to beat. compare the average price it was 76.7 and not 78. i think earnings will be be. today. inflation is out is the bank of england going to stay on hold much longer than people think? >> i agree. i think the bank of england is going to stay on hold much longer. you are seeing european numbers even worse. there is more currency. i would say equity will be driven by sentiment. >> we are going to talk about europe after the break. we are going to talk about european central bank policy as well. checkout mulberry, the british fashion retailer, getting crushed this morning, down over 20%. -17%.at there is a profit warning as well. since 2012 the company has lost over half its va

>> we heard stanley fischer say that if markets continue to decline overseas, that could frombly delay raising interest rates by the middle of next year. this is a moving target i always find it funny how people think that, once the fed says it's something, they are going to ignore the factors leading up to that change, that they are going to be stuck on that one forecast. >> a betty liu will be joining us, filling in for trish regan top ofeet smart" at the the hour. matt miller is at the new york stock exchange. fiat automobiles making their debut, giving u.s. investors the opportunity. they are hoping to increase vehicle sales by almost 60%. matt is standing by at the exchange with the ceo of fiat, sergio marchionne. >> i am here with sergio and john. they started trading their shares on the nyse. congratulations on that to both of you. let me ask you what you think this does for you, a listing here. you are already trading the stock in milan. it is not an ipo. you are not selling a lot of shares. finally taking chrysler back to the u.s. market after it was delisted back in the late

stanley fischer said it is between two and 10 months. the end of the cycle is next week. the fed will likely keep that there. if they keep it out, to some minds come it will be an earlier hike. also, the second key phrase is the significant utilization of labor market resources. the fed will probably continue to say that. if it doesn't, well, the jobless rate is getting closer to implementing full employment. it is time to move on rates and raise rates. the thing is to not get too wrapped up around the axle on the idea of when they will tighten. it could be march, june, september. keep in in mind how much they will be. >> good to see you again. >> thank you as always. it's coming up, dan logue shares his best ideas with -- >> coming up, dan loeb shares his best ideas with stephanie ruhle. we'll have updates from the robin hood investor conference all afternoon here on bloomberg television. ♪ >> welcome back. we continue to cover the latest on the ebola virus. the government announced tighter travel restrictions for passengers out of africa. shelby holliday has been follow

these may be great headlines and pe is still high, stanley fischer, financial instability hawkish environment i think those stocks will get smashed down. to answer your other question, what i look for as far as fundamentals i need to see constantly increasing earnings, earnings and net income. like the small cap sector. specifically i think you should look into the russell 2000. find companies that have been around for a while and ramping up their earnings consistently. those have the great opportunity to outperform over the long haul. liz: sound a lot like warren buffett but very hard to be disciplined, jason, especially when people get a little panicky. >> that's right. liz: what is the number one key to keeping disciplined even when either the sun is shining too brightly or the clouds are out and it is pouring rain? >> well, again, a deep topic having very important. number one, you really have to know yourself. you know it is kind of like the zen of investing. you can't just follow what other people are doing. you have to, maybe need to sit in a room for a day. you need to check in with y

wasn't it stanley fischer who said two months or two years, right? that's hardly clear and narrow guidance, isn't it? >> think that's right but it tells the market there's a period at least of some length. i think it's under to be at least two meetings. i don't thing this sets you up for an imminent rise in interest rates but it leaves open the possibility especially if it comes to what happens with inflation. it's very insignificant. if you read the statement is that they expect this to be energy price led. if it's more than that, then i think the fed would stay its hand. >> i know we have to go to guests. do they pull forward mid-2015, early 2015? >> i think what we -- you said mid-2015 to what? >> do they go from mid-2015 to early 2015 if the gdp print comes in big. >> brian, i have to say spring 2015 and i'm changing my mind is perhaps on the table here. thing tomorrow's kind of built in. we've been tracking a 3-2, 3-5 number but if you start to get the fourth quarter over 3 and get much progress coming down and if inflation stabilizes, all of th

even stanley fischer saying global growth is a concern. growth continues at these levels, it may move even slower. >> investors would like that comment from officials. >> the chief economist at goldman sachs. its really does crystallize for me. much of the revenue is from overseas. gdp in the u.s. is only 13 and a half percent. it isn't so much risk. good old goldman sachs, the chief risk operator. they are underestimating. they think the market is benign. understand the fact that crises do occur. thefed governors raising voice about global growth. if the market drops a little bit, but investors are pulling money from the european market on record.est pace nearly $2 billion in the past three months. >> it has been an important month for france. the company had its outlook cut. with the finance minister. he said francis deficit should not be reduced at the expense of growth. >> it's not about time. it's about rhythm. inflation collapsed. >> japan also reinforced the belief the eurozone can only return for help if 18 other countries manage s

. >> how will janet yellen, stanley fischer, bill dudley, how would they communicate this?peech of a rubber chicken? >> a lot of ways in which they will lead into the change in communication could be through speeches. priming the markets for the official communication. we have the fomc minutes. sometimes the conversation that occurs in the minutes is a way of laying the groundwork for the markets on the change. >> jeff rosenberg with blackrock. out of jacob -- adam? >> look at where the markets are trading. i got so excited. s&p futures are up seven points, 1/3 of a percent. the 10 year is flat. the euro getting a bid, 1.2560. , finally up.p $.56 >> this is bloomberg "surveillance," i'm olivia sterns with tom keene adam johnson. our guest host's jeffrey rosenberg, chief investment strategist for fixed income at blackrock. dilma rousseff clinches victory in the first round of elections. the battle is far from over. plenty at stake. willem marx is in sao paulo. he joins us with more. good morning. it was really a very unexpected result. the incumbent walked away with around 4

." >> this goes to stanley fischer who really reviewed what happened in 1998. speaks to, you have to get on these problems quicker. >> a professor in 2008 it is on review. result, one of 13 countries, that had exceptional growth for 30-year period. is that part of the problem? there's a legacy of exceptional growth and it creates a void after it slows? >> yes. result is a very unusual case. in the postwar period for 25 or 30 years, they grew admirably. for reasons nobody completely understands, in the late 1970's, everything what wrong. hyperinflation, that management, turning inward, a dictatorship. they came out of that in the mid 1990's under president cardoso. took over- then lula and that a pretty good run, now it is not anywhere near as bad as it was in that 20 year period from 1975-1995, but it is slowing down and they need -- >> the pendulum swung one way on growth, radically the other and it is trying to find -- >> exactly. >> and fairness, the 1970's were bad for many economies, not just fashion. you said dilma is likely to win a second round. she got

we heard from stanley fischer over the weekend, who is the number two.ir of the fed and he did indicate there will be more responsive to a deteriorate rate. >> he said that today, everyones said the same thing. talking about trying to slow the market from falling out of bed. >> and the dove have the numbers on the fomc. >> especially heading into 2015. a couple of other things briefly to watch. the dollar is going to be one. >> right. >> that one, again, sometimes you have to look against the euro or the yen, sometimes just the trade-weighted index, but that's been pushing things around quite a bit. >> ford a couple of weeks ago came out in front of their earnings, here is what we're concerned about. this is why they punished the stock. but less so than they would have punished it had they kept their mouth shut. >> the interesting thing is the stocks that are as sensitive to the dollar moves, the ones that are doing most of their business here in the rust the ones that have fallen out of favor. >> that's why we were thinking the russell would get its moj