stanley fischer accidentally let slip at a public meeting that jpmorgan is the only bank facing a capital shortfall, $20 billion. the company is well capitalized according to a jp spokesperson. but some analysts said this shortfall could weigh on earnings in the coming quarters. >> the share price -- the share price reaction is not quite in yesterday's trade and only 0.6% in after hours trade. it's not been a huge thing. i don't think this capital requirement is anything like as important as the one we had in europe a month or so ago. it does rebeg that question that we had for a long time, these massive banks moving forward, will they want to be smaller so they don't fall foul of the toughest part of this bank regulation going forward? by being systemically important, the regulator is so stringent. >> wall street seems to think so. the s&p financial index is outperforming the s&p 500, goldman sachs up 1.7%. jpmorgan, morgan stanley up 18%. there's been a pretty good run for these financial companies despite capital share hold and talking about legal disputes, as well. >> indeed. >>> comi

please join me in thanking stanley fischer. [applause] from the wall street journal ceo council meetings, the national security advisor, susan rice. she spoke about turkey's role in the fight against isis. [applause] >> good afternoon, welcome back. ambassador rice, thank you very with us.ed for being a lot of bad stuff happening in the world and most of it ends up on your plate. let's start with the fight against islamic state, isis, whatever we call it. the president, when he announced the reaction, said the goal was and destroy the islamic state. how much has it been degraded, and when can we expect it to be destroyed? >> if it has been degraded, i think the president has been clear, this is not a campaign that is going to be won overnight. it is a long-term endeavor and a multifaceted endeavor. it is not just a military run. it is also about preventing the flow of foreign fighters. it is about degrading and it is about of losing its narrative of hate and its bastardization of islam. we have brought together about 30 states

he offered advice to federal reserve vice chairman, stanley fischer. advice, ire to give ,ould say simply that the fed as the central banker of the worry basically has to about financial conditions not just in the united states but in the world, so that next week, in terms of the language and their stance going forward, they should be very cautious about any type of tightening indications. >> for more on the u.s. economy, let's bring in chief economist linzie p is a. welcome back to bottom line. >> thanks for having me. >> we talk about inflation pressures. in the u.s., they are still week -- weak. >> the fed obviously has a dual mandate to instill full employment and stable prices. the labor market is still sending a lot of mixed messages. now the fed has to contend with its other problem, sluggish inflation pressures. consumernd out that sentiment increased to 93.8, the highest level since january of 2007. is this all about falling gas prices and is the momentum sustainable? >> it is all about gas prices. consumers are saying they are feeling a littl

stanley fischer talking about movement. we had a conversation about where we are with the euro. on thursday, december 17. it will be incredibly important. green just opening in the . those futures indicate we will get higher. three companies we are keeping an eye on have had a little bit of speculation and an upgrade. flurry. nice speculation shell might be interested in buying bp. our bloomberg television team would say anybody and their right mind -- in their right mind would want a little more information about what is before they could .ossibly think about buying bp barclays raises the stock to overweight with a 30% upside in the price target. at 439.8.ading sales are in line. they say they are on track for a 6% growth6% growth in 2016. the stock of just under half a percent. ladbrokes, this is the gaming company. to complete his term. confident 2015 would see further operating and financial progress. ,e will complete his continue his role in 2015. they will evaluate internal and external candidates. rouble. -- the dollar ruble, it doesn't if the central bank intervened. wil

stanley fischer named jpmorgan in particular, saying the bank will have to come up with more capital.o scotland be planning an exit from fixed income trading in japan. the bank may cut more than 200 jobs in the region. is the latest effort to cut assets. standard chartered will be under u.s. watch for three more years because of new potential violations of iran trade sanctions. the extension means that standard chartered still faces possible prosecution. we want to get back to that oil story. drilling fort is a very -- drilling for it is a very expensive ross is. with the price of crude at its most in five years, some projects may make less sense. hard to find in hard to extract, deep-sea oil is one of the most expensive sources. one of the most expensive is the brazil ultra-deep field. costs of the project are estimated to be $80 billion. hostile weather conditions make drilling in the arctic a huge technical challenge and very costly. rosneft and exxon spent $700 million drilling a well in the sea. exxon has pulled out because of sanctions. rosneft is hampered by rising debt. helped

the new vice chairman of the federal reserve, stanley fischer, was a citigroup executive. members of the economic council, the office of management and budget, our current trade representative, and senior officials at the trade department have also had citigroup ties. that is the record for just one single bank. senior officials in recent administrations have had ties to goldman, jpmorgan, bank of america, morgan stanley, or other major wall street firms. still more officials, including two recent appointees to the trading commissions, were lawyers who spent huge portions of their careers representing wall street institutions. this is the revolving door. it is most dangerous. virtually every economic policy discussion held in washington, the point of view of wall street banks is well represented. so well represented, in fact, they often crowd out other points of view. that is the context for thinking about the nomination of antonio weiss. years atthe last 20 the investment bank, and he has been named to be undersecretary for domestic finance at the treasury department. he

stanley fischer?net yellen. -- dudleyoes what echoes what yellen says. >> interesting to see how the markets were so confused after friday. report everyone's trying to second-guess what a fed is going to do. joining us with more from what we can expect from the fed is chief investment officer from credit suisse private bank. do you think they are going to drop their language? >> there's a possibility. the data has been strong and the fed has been telegraphing that they want to re-normalize policy . they want to do it at a measured pace so they do not do anything to hurt the global acceleration we've seen. >> yes. however, they do not want to hurt the global acceleration. at some point you start to see some wage crash. are they going to look like they are behind the curve if they don't do something? >> one thing the fed watches is the court personal consumption expenditure and the five year forward inflation rate. neither of those are in a big acceleration. that gives the fed a bit of wiggle room. what

does it change the action of janet yellen, stanley fischer, bill dudley and company?it will change all that much, i think they view it as positive for the u.s. economy as it is helping households and if inflation stays low because of oil -- >> will you and vince change are called because of $60 per barrel oil? >> i'm glad you bring that up because we had a call for a 2016 rate hike for more than year, so we have not push it out even further. i believe with alan the fed will probably not change their tone on when they like to raise rates because of oil because it is a net positive for the economy, but by the time it starts to hit cap ask that year that is the time they were hoping to raise? >> thank you for joining us today, go see the morgan stanley dartboard. >> alexander of morgan stanley, we will be right back. ♪ >> we welcome you on jobs day, less than an hour away from that port -- important report. monday on the program -- i will butere tomorrow working, monday on television and radio from morgan stanley we will speak to mr. parker about his enthusiasm on equiti

we'll hear today from fed vice chairman stanley fischer and fed governor brainard. >>> takata is expected to widen the recall on air bags. they were given until this evening to declare air bags defective and issue a recall. if it didn't, nhsta could fine takata up to $17,000 per vehicle. the company is expected to explain its decision on a congressional hearing on wednesday. >>> gm is recalling more than 316,000 suvs and sedans, mostly in north america, because the low beam headlights would stop working. gm says it cannot confirm if a loss of life has led to any accidents. the automaker has recalled more than 30 million vehicles worldwide this year. >>> taking a look at shares, down just about 0.4%. in frankfurt, over the past three months, basically flat. >>> oilmakers lort u.s. sales today which could be the highest in more than a decade. c conannual sales at the 17 million level which was last marched in august. chrysler could be the big winner. sales are expected to rise as much as 20%. >>> from autos to china, the chinese market surging led by the financials sector. but what caused t

charles plosser as well as stanley fischer might not be on the committee. >> sure. they went easily and then you had a housing double. so i think they're going to -- they don't want to see run away inflation and they don't want to see the market directioning and for them to come back and do another round of qe. they will wait for the right hike. >> thank you so much for being with us today. we'll see you in 2015. >> looking at some of the other top stories today, north korea's internet service is back online after suffering an outage yesterday. the obama administration has promised a quote/unquote proportionate responsibility for the attack. although north korea has continued involvement. it's touch a swins dense that this could happen, right? >> who knows. but, of course, timing is questionable. coming up on cnbc, we're going to turn back to m&a. the countdown clock is on for one of the biggest mergers of the year that has been put on hold. we'll get you details, coming up next. >>> the s.e.c. has paused its review of the proposed $45 billion merger of comcast and

stanley fischer characterized that as a supply shock.ason they look at inflation is to gauge wh demand is adequate. i think they're going to look at the stronger economy, the improvements in labor markets which seems to be accelerating. and i think that's going the be the main focus. i expect they'll give some indication for a gradual normalization. i do have some swamp land in florida whose price i'd like them to support. they've said in the past they wouldn't raise rates despite a financial bubble except in a last resort. the oil decline is painful in the sector, but i don't think they'll see themselves right now as having to adjust policy to deal with it. >> and do you think, steven, that the fed will have to comment on growth, projected growth for 2015? how strong the u.s. economy can be when you have russia and china .other emerging markets projected to slow down in the next year. >> well, i think the answer is strong. the u.s. economy still benefits from lower oil prices. we've seen the production numbers, the retail sales, the con

new york fed president bill dudley and stanley fischer are speaking this afternoon, both after the close. betting retailer mattress firm and rv maker thor industries. >>> other top stories, early promotions and online shopping took a toll on brick and mortar stores. total sales fell 11% to $50.9 billion. shoppers spent on average $383, down from last year. they may be feeling about their better financial situation so they don't need deals as much or want to fight the crowds. >> rising 32% on thanksgiving and 26% on black friday, driven by stronger deals. national retail federation says 32% of consumers shopped online or plan to shop by the end of the weekend. nrf projects 127 million people will shop today, cyber monday, guys, down from 131 million last year. consumers will spend just about $2.5 billion today. we do want to hear from you on this. are you over the sale shopping or were you out spending this weekend? you can tweet us at cnbc, twitter handle on the bottom of the screen. you did not take advantage of the deals, wilfred but i have to admit i certainly did. >> what was on the

then, stanley fischer talks about the economic outlook. finally, we hear from susan rice. and compton, who retired as nbc news white house yearspondent, on her 40 of covering the white house and the administrations of gerald ford through barack obama. listen to a group of second graders. andy card came in. i ripped on him. he said, nobody interrupts the president, even in front of second graders. he said he had to go. he went into a side room. then we heard, to discovered, that there were two plane crashes in new york. they came to the parking lot and said, stay right here. the president will talk to us. >> i said no, there are live cameras in the cafeteria. he has to speak their. he went there. he said it is an apparent terrorist attack and i must head to washington. the doore door -- push closed and then he pentagon was hit. >> now present obama talks to business leaders about his economic priorities in dealing with the republican-controlled congress. trade policy are possible areas of bipartisan cooperation. the event is one hour 25 minutes. [applause] the president of

the new vice chairman of the federal reserve, stanley fischer, was a citigroup executive. the directors of the national economic council, the office of management and budget, a current u.s. trade representative, and senior officials at the treasury department, have also had citigroup ties. that is a record for just one single bank. many other senior officials in recent administrations have had ties to goldman, jpmorgan, bank of america, morgan stanley or other major wall street firms. still more officials, including two recent appointees to the commodity futures trading commission were lawyers who spent huge portions of their careers representing wall street institutions. this is the revolving door at its most dangerous. in virtually every economic policy discussion held in washington, the point of view of wall street banks is well represented. so well represented, in fact, they have often crowded out other points of view. that is the kind of context for thinking of the nomination of antonio weiss. he spent the last 20 years at the investment bank lazard and has been named

. >> federal reserve vice chairman stanley fischer was at ceo council annual meeting this month. he talked about the global economic outlook. topics included oil supply and surprises and short-term interest rates. this is about a half hour. >> good morning, everybody. thank you, vice chairman fischer for joining us. this is a special treat in addition to being the vice chairman of the fed, mr. fischer was the former governor of the bank of israel. and the number two at the imf. so, you have a sue neek perspective on the global economy and global landscape. people in this room have footprints all over the world. i want to talk to you for starters about the global economic back drop. first of all, i think everyone is talking about oil prices. they've fallen 25% this year, especially in the last few weeks. what does that tell you about how the global economy is may having? >> there's clearly a big supply factor, which is the united states in particular. and sort of unexplained increase in libyan output that's taken -- that's taking place at the moment. but the deep underlying factor