fed vice chairman stanley fischer recently said he still felt pretty strong case for raising rates this month. economic reports that retail sales, industrial production and consumer price index in the u.s. could affect the fed's position. nicole: i can't wait to see what happens. it's really exciting. it's an important one. a new poll shows senator bernie sanders is leading former secretary of state hillary clinton by wide margins in new hampshire and iowa. new hampshire he is leading mrs. clinton 52% to 30% and iowa 43% to 33%. senator sanders on "meet the press" telling why he is more electable than hillary clinton. >> the american people in my strong view with establishment politics come establishment economics and they want a candidate who is prepared to stand up to the big-money interests, wall street, corporate america could exert so much power over our legislative life in washington. >> quÉbec separatists out and holding a bake rally last night in north carolina. lauren: meanwhile republican presidential front runner donald trump on face the nation talking about by the end carson

jeanna: it was interesting today because like you said stanley fischer sounded confident.ore concerned that these developments abroad go to have some effect on inflation -- have some effect on inflation and hold it down which we have not seen before. again, janet yellen reiterated that we are seeing pretty stable inflation expectations and the fed cares about those but definitely a little more-glory worriedflation -- more about inflation than we have seen in the past. angie: how did the economist you spoke with react? jeanna: a lot of them mentioned that they do not know what to think coming out of the meeting because we do not have a clear map going forward until the end of the year for what the fed is looking at. they are obviously looking at economic data. paying some amount of attention to what is going on in markets and abroad. what is the reaction function? what is going to make them stop and decide it is time to go? that was the big take away from all of the economists that i talked to. a degree of uncertainty. angie: a lot of attention being paid to this press conf

too is stanley fischer optimistic after jackson hole and his previous interviews? fed -- obviously with the public face and public responsibility, are the cheering the economy forward? elga: no, but they did not have the opportunity yet to take those benchmark provisions on board. i think all lies this week are on the ecb, the first major central bank -- i think all eyes this week on the ecb, the first major central bank to do this. vonnie: at what point does the market -- michael: i think she is right that the one less data point is not going to move the needle too much, but obviously a big surprise one way or the other could spook investors. at some point, stock investors are going to start taking good news for good news again and not focus on the fed so much. many different opinions. we have had a lovely four-day bounce. maybe opec has stepped in. how do you adjust? ga: we want to be consistent with central banks, and that means we have built in a nice upward slope, but we make no explicit assumptions around oil. tom: it sounds like a nice -- like a less dramati

all of this is according to the chairman stanley fischer.he door open to a rate increase this month. that is why the focus will continue to be on the five. in new york, su keenan, bloomberg news. angie: coming up next, the sales figures and safety issues. we will take a look at mcdonald's japan after it is hit by another food scandal. ."is is "first up ♪ angie: let's take a look ahead to the japan open in just a few minutes from now. closed 17 225 last 792, down more than 2%. it looks like it will be another drop of about 80 points. we have dollar/yen right now weakening. 119.14 one u.s. dollar strength. will getese benchmark two new members this month. acial website dna and company will join as a part of the annual review to see if it has the right balance. dena has been riding high on the tie up with nintendo. stock will jump almost 50% in the next 12 months. latest's inclusion is a sign of how policies are boosting the property market. ♪ angie: welcome to the stock exchange. we are taking a look ahead to the opens in australia, japan, and

stanley fischer, this sky was hiking rates at the bank of israel. in the may had to cut rates.thing they have to do with sweden. starting to early will be a mistake. another point. tons of mutual respect, but just a couple of things. we have the normal cycle, which means in a business and a recession, you/companies. they get put out of work and any matchup demand and supply. this time around, all this qe helps tons of companies stay in business globally. .ore global supply tom: john kept going back to help governments are using ofply-side solutions instead command solutions. john: on the one hand, thank goodness. employedmore people than otherwise. we have more supply capacity relative to demand growth. as a result, you have ava nine time for inflation. here is another interesting thing. i went back to it used to be the goldman sachs economist. at bill dudley's remarks, in 2004 before greenspan pulled the trigger, if you read it back then, my core view, he said, is not hiking until 2005. he comes back and says, i'm telling you i'm going back in june. we are now expected to go i

still dealing with last week's crazy volatility but economics are really important because, as stanley fischer said, what happens with the data in the next few weeks will determine if the fed will raise rates in september. fortunately, this is chock full of data started with the ism manufacturing index. that's tomorrow. the first read on the economy in august. we'll also get revised productivity numbers on wednesday and the ism nonmanufacturing index on thursday. that's a look at sentiment in the services industry. the most important data point, of course, will be the august jobs report. that's going to be on friday. traders are expecting a gain of 220,000 jobs. that would be the fourth straight monthly gains over 200,000. one key component is wage growth, which has been roughly stagnant, just about 2% a year. the big issue is that if any of this data is sufficient to turn the feds doves into hawks, now there are key players, like the new york feds william dudley, vice chair stan fischer and chair janet yellen who appear to be sitting on the fence. this is going to go right down to the wire on

stanley fischer is concerned about an ultra accommodative federal reserve. others say patience. friday. why are you starting now if you know you do not have room? directionin the wrong , it is harder to do something about it. i am just lost at the strategy. tom: there is ken rogoff. we have a bombshell, breaking news now. this is the archconservative australia, losing. this is mr. trimble -- mr. turnbull, losing. this really shows, when we talked to willem buiter, about worldwide political tumult going on, whether it is to the left, as we see with jeremy corbyn in london, or to the right, as may be for committing in france and now australia. willem buiter is with citigroup and joins us on this breaking news. it just never ends, the political turmoil. is the financial crisis of england or of america or of australia still with us, leading with this political tumult gekko willem: the economic legacy is still there. the political legacy is there for a long time. this is not going to go away until we address the financial problems, the debt problems. i do not know, like the new gener

stanley fischer was therefore janet yellen.was telling everyone his assessment of the jobs report which was rather mixed. he said on the one hand, they are numbers. the numbers for last month were good, on the other hand they are not very reliable. mark: ryan, good to see you. good luck at ankara. here we are at twitter. i would tell you where ryan is. with me i'm a little special, i have tv. has china stop the slide in its stocks? ♪ ♪ this is a great place to work. not because they have yoga meetings and a juice bar. because they're getting comcast business internet. comcast business offers convenient installation appointments that work around your schedule. and it takes- done. - about an hour. get reliable internet that's up to five times faster than dsl from the phone company. call 800-501-6000 to switch today. perks are nice. but the best thing you can give your business is comcast business. comcast business. built for business. mark: book back to on the move. things are shaping up on the market. stocks in europe are rising

ok, stanley fischer at jackson hole was saying, or suggesting we could see a rate hike and we heard fromis this good for us? is this good for you? richard: we really do not know where we are, do we? wheres why no one knows we are going. no one knows is he a dove? then we had a flurry of other fed governors, saying out -- coming out saying, things are not quite done yet. you would think they would have some element of cabinet responsibility. rishaad: responsibility, yes. inhard: fight it out private, but don't fight in public or don't go on television. angie: but isn't this about transparency? england has bank of transparency. why can't we put interest rates up in november? maybe that is the -- what the economy needs? angie: not loving janet yellen for leadership. i could criticize the sexism, which is completely untrue. i quite wanted to believe in her area one has to wonder, while top,s in control the whether she is in control of the governors and what they are thinking. >> in their defense, they have throughthrough -- pore a ton of economic data. how does any central bank or make sense

words of vice chairs stanley fischer. have they already decided whether they will move in uillermo?re not, gille >> i think there are different views in the committee. some would be happy to move in september. whatll have to see decision they make as a committee. jonathan: does the g-20 have a cost of the concern if the fed goes on a tightening cycle to begin as soon as this month? on how theit depends market would take it. if they go in september, i think the risk is that financial conditions deteriorate further and that actually increases the nervousness in markets and it puts more pressure. jonathan: final question, if they go in september, you're predicting march but if they move in september does it increase the possibility to move back within a year? how thenk it depends on data will move. i've seen enough in the u.s. economy for growth to continue and for them to go back. jonathan: guillermo felices thank you for joining us this morning, head of european financial asset allocation calling for a said march 2016 hike. the relationship is not what it used to be and that's becaus

stanley fischer and says we haven't made up our mind yet.oday, john williams and the wall street journal comes out and says maybe the rate increases that i called for this year won't happen at all. people are getting whipsawed by this. >> they are. we discussed this in the prior segment. the fed pats itself on the back by saying their data dependent. the data dependence is not a monetary policy. you see stanley fischer's take on his preferred course, john world-classey are economists. but ultimately, the fed is a committee chaired by janet yellen. at some point, sooner or later, she's going to have to get an arm around this and really lay out with her liftoff strategy is. >> does it make a difference if they raise rates to five basis points or they don't? will you notice other than the headlines? >> the rate increase is trivial. with their concerned about is that monetary policy is transmitted through bond yields, mortgage rates, and currencies. all three of those asset markets , they don't have full control over the market reaction, and ove

two days later, we had stanley fischer, the vice-chairman, speak and he was leaning toward raising ratesre still waiting for janet yellen to break the tie and we are getting fed officials all after jacksoneven hole in wyoming. you can conceive of an opinion and there is not at least one official that has it. mark: jim, we're going to have to leave it there. jim bianco from chicago. betty: this is where i sign off. i leave you to watch the markets. ♪ mark: welcome back to the bloomberg market day. i am mark crumpton in new york. let's begin with a look at the markets on this tuesday, some timber first -- september 1, 2015. can't understate the obvious here. global markets seem to be in a freefall. matt: absolutely. they continue to get worse and worse throughout the day. we've had some pretty amazing moves down. i looked at the s&p 500 and there was only one gainer in the entire group. i found that interesting because that was fixed at a price of 140. i have some interesting graphics here. i'm not sure if you can bring up my terminal. i've put together a couple of , all off the green line

olivia: all stanley fischer said was inflation doesn't have to get to 2%.ichael: i think the collective interpretation of all of jackson hole was firming up up the september move there. even after that, if you look at how the doctor reacted and how the two-year reacted, it reflected a bit more of that september narrative but it did not go crazy. the euro, the dollar, the treasury yields are kind of consolidating right there. the one real outlier is the vix futures. that may suggest that the further dated contract is something you want to sell if it -- if you believe the market will accommodate a september hike. olivia: could all of this be seen as quite normal? we are in this new era of low volatility because we are in this new era of unprecedented forward guidance from the fed and out the fed is thinking about tightening at last. isn't it normal that volatility is coming back and we are maybe making too much of all of this? no one really knows why the markets explode like it did last week. if you look from a technical point of view, the s&p 500 has been ar

i think what christine lagarde said is different from what stanley fischer said last week, if you waitedo be sure, you've probably waited too long. >> if we talk about the recent financial market volatility, would that mean that the fed is going to ignore that? and would they be right to do that? is that not within the arena? >> well, i think if you say you're never going to move policy until markets are absolutely stable, it's going to be a long time until you move policy. i think they have to accept the world for what it is. which is when have these kind of asset markets and these kinds of divergence, you have that volatility. the question is when you see that spill into the assets market, and so far, it's okay. >> we're coming to end of the six-year experiment with unbelievably loose policy. shouldn't we be arguing about 6%, not 1.2%. >> the growth in the u.s. is probably the worst in 70 or 80 years, right? it's easy to come with a number that's around 1.5% based on three quarters percent product at this time or labor growth. the question is can you change that? if you're the fed, you

i think we reacted positively to dudley saying all sorts of words over the weekend, and stanley fischerng harsh words and reacting badly. at the end of the day, it is about growth. growth is slowing down and we have to slog through all of this. -- how muchny more more leg does this have as we get into the spillover from august krishna -- from august? : they either have to have a selloff or they will have to say they are not going to do anything. right now, the fed doesn't have until 17, but maybe the employment report will provide a bit of a stock. alix: and all of our joins us from bloomberg news. -- oliver joins us from bluebird news. -- bloomberg news. still not dramatic shifts. 21 people that we surveyed, 17 of them still have the same estimates that they had pretty much toward the beginning of the year. pointed outing we earlier is that adam and other folks that have brought down their estimates, they are not bringing them down by a huge amount. from one saying that he will move the s&p lower, and i say that carefully. move is about 2200. it is no small feat for stocks. they have a

>> on this particular topic, you have to listen to stanley fischer, the vice chair. us two things. he said they will not wait until inflation is at the target. if they wait until inflation is at the target of 2%, it will be too late. the second thing he told us is he is confident inflation is coming back in. today's numbers were encouraging. that is a positive part of the report. right now there is not the inflation, blinking yellow sign saying you have got to move now, but i would not say they have to wait until inflation is 2%. they just have to be confident inflation will gradually move up. betty: that the trend is heading in that direction. stay with me. i want to talk more about the fed, but also what is going on overseas as well. mom and el-erian staying with us -- mohamed el-erian staying with us. stocks are climbing. the dow off almost 300 points now. we will have much more in a moment. ♪ betty: welcome back to the "bloomberg market day." i'm betty liu. let's get to matt miller for the big stories of the market day. we are taking another leg lower on the mark

now we heard from stanley fischer and we heard from bill dudley. they're both close with her. one was more dovish. the other more hawkish. but i definitely want to take it to peter really quick. peter, will fed making a move, basically sending a signal that the u.s. economy is okay, will that ease some of this volatility? >> i think it will actually ease volatility. i think, china might have been catalyst for selloff but fed easy money created conditions that allowed us to get big selloff. important for the fed to get off zero and back to normal environment. if there is selling that is when you want to buy. once rate hike comes in september, we'll go to new highs on the s&p 500. unless investors push stocks higher. you mentioned high yield earlier. high yield stopped slow down. energy, some of things let us down are slowly but surely turning around. i take that positive the way forward has a lot of momentum to the upside. we see pull back in energy stocks. in energy, oil prices today and commodities as well. lori, what is the take down there on energy stocks? because again thi

when you hear doves like stanley fischer we'll raise in september or thinking about raising in september it makes you think that the problem they have now, we have deflationary pulse which is beating around the globe as emerging markets to start liquidating dollar positions to support the economies. that will have deflationary impact across the globe which will, should impact fed policy here domestically. >> he is 100% right. trish: i have to jump in. i agree with you. that is bigger, real threat, that is the thing, jason, that keeps central bankers up at night. you may fight inflation with a few rate hikes here and there. deflation is a whole other animal. i question whether or not this fed create ad scenario we might see deflation because six plus years of low rates? >> you know what? >> personally -- trish: jason. everybody wants to talk. jason you go first. >> thanks a lot. we also have the ecb, draghi, who is notorious bazooka carrier of quantitative easing. yes, deflation is concerning. at the same time, if you really read some of the interviews from jackson hole you will see a lot

as for what is going on around the world, you look at what stanley fischer has said.larity and all you will get is confusion of a different sort in the next month. if you think you have a reasonably good picture of what is going to happen for the economy going forward, you go ahead and go and maybe eliminate some of the market volatility in the process. carl: janet yellen looks of factory sector. if we look at growth this year, it is 1/10 of one percent. the factory sector is taking it on the chen from the strong dollar. janet yellen does not want to exacerbate that section and that impact. and that impact. a lot of analysts mistakenly say that the strong dollar on the impact the export sector. it certainly impacts the export sector, but it also is unleashing a flood of cheap imports to the domestic economy, which is why you see three activity lessening. if you look at job creation in the six-month moving average, it has been slowing down. the economy is good. i agree with mike. but it does not justify a move yet. scarlet: economist on average do not expect we will hi

and i sort of thought that, you would get from the fed vice chairman some, stanley fischer, some kind of a like, maybe a co-chairman role, but he hasn't even stepped up. david: no. >> the one important thing to make here, the president's choice of the fed chairman, may be the most important choice he makes in terms of an appointed job. david: very close to supreme court justice, no question. i have to give scott a final quick word. scott, are we going to see this kind of market instability as long as the fed is unstable as it is? >> without a doubt, david. it will get worse and worse as we get closer to the next meetings. i think the big telltale sign today, look at bonds. bonds have been getting hit last few days. today they rallied big. rates dropped especially on shortened. if you want safety i would go there. david: scott, david, deirdre, jimmy, great panel. very much appreciate it. melissa. melissa: red, white and trump. "the donald" comes out swinging against the competition. we are await billionaire's comments coming up to th after the big gop fight as light. david: a man calli

keeping janet yellen and stanley fischer have immense challenges, tangential to what they see in a betterican economy. ray is any a lot of time on china. you will see it across asia, near the 2:00 a.m. hour. kathleen hays, mike mckee will join me with an esteemed set of guests, all different and all divided on the debate on what the fed will do at 2:00 p.m. washington time tomorrow. and then, the idea of where do we go from there, and it has a lot to do with china. angie: absolutely, because the volatility we have been seeing in the markets has really dampened the bets that the fed is actually going to do something in september. everybody is waiting to hear on this side of the world, whether or not fomc decision is going to really create more volatility in emerging markets. guest: that is absolutely true. ray and many others suggesting the new globalization of financial markets and the shot of the continue distortion will reverberate across europe. tomorrow, draghi in frankfurt, and in japan that wonderful rapport on the credit rating markdown in tokyo. over to china, i want to make clear

investors will be as federallosely reserve officials including bank chair janet yellen invites chairs stanley fischereak out in various forms. this, after yellen made clear this week that the fed doesn't plan to raise rates by the end of the year. york, bloomberg news. angie: time for a look at some .f the top corporate stories >> german chancellor angela merkel has confronted facebook's ceo over their efforts to curtail a racist post on the site. committed to working with a nonprofit internet watchdog to monitor suspected hate postings. the thai have with disney will help the company expand in china. the overseas market could boost demand. uniqlo as added openings in its chinese store. does the will of its $5.5 million shanghai theme park next year. -- man in charge of demand in charge of japan's biggest ipo in recent memory says he is not worried about the volatility. company's $11.5 billion public offering will succeed as planned. the ipo is set to be japan's biggest since 1998. it is also the largest sale of a government entity since 1987. those of the top corporate headlines this hour. the choki

. >> i think a lot of the fed officials specifically stanley fischer had left the door open saying they'reng to monitor market events and volatility as one input -- >> it's one input. but remember, markets reflect everything else and that's what mike's getting at. markets reflect what's going on in the world. yes, when you have higher volatility, generally speaking you have an economy, at least in the u.s., that may not be doing as well. >> for more "options action" check out -- mike, thank you. check out the full show 5:30 p.m. eastern time on friday. coming up on "mad money" tonight, cramer is offering you a crash course on what to buy, what to sell and how to read the market's big drop. we'll talk tactics to help you drop the championship team for your portfolio and answering your questions on oil. all that and much more tonight on "mad money." and of course a big day in the markets here. you want to keep it on cnbc after "mad money." "markets in turmoil," our special report, is tonight at 7:00 p.m. eastern time. we're going to get you set up for tomorrow's open. again, 7:00 p.m. here o

i'm thinking about stanley fischer when he was in the calm and he was saying listen, if it's volatile, i might change my mind, and i say, okay, it's absolutely possible that you should freak out. so many individual investors left the market last week. they left the market at apple when it was at 92. was that a smart move? it's 110. pick your companies. use the weakness. you want to do etfs, forget about it. open an annual. >> we got ford just a few moments ago. it was well above the estimates. it's time for gm now. >> a little better than expected for general motors. a recline of 0.7% for august. the estimate was a decline of 1%. we're comparing with august of this year and august of last year. the raw numbers are different because labor day was not part of this year's sales and it was a strong august last year for gm. gm down 0.7%. a little less of a decline than expected. and gm is saying it expects industry sales for the month of august to be at a pace of 17.5 milli 17.5 million vehicles. if that happens and we do expect it over 17 million, it would be the fourth month in a row wit

it was just a month and a half ago that stanley fischer said inflation is too low.eeks before that said we're going to raise rates this year. we are getting conflicting signals from the fed. today's data certainly don't help clear up with the fed -- >> one of my problems here is, the fed has no rules. there's no clarity in their message. paul volcker gave a great speech about this a while back where he said isn't it time to return to a rules-based policy with international cooperation. and he was right. >> i want ton comment on that. every analysis of paul volcker showed he followed no rules. there is no analysis that says volcker followed a rule. >> he was a commodity price rule guy and he was a gold guy. but look, there is no inflation! therefore, they should do nothing. >> unless you're talking about, larry, couple things. my point, you reference -- this brings us back perfectly to the beginning because you referenced the labor force participation rate. everybody that hates the economy right now says it is low. >> i don't hate the economy. >> back to 1977 lows. w

you see stanley fischer's take on his preferred course. i know all of them.ists. but the fed is a committee chaired by chair yellen. at some point, she will have to get an arm around this and lay out the liftoff strategy is. mike: does it make a difference if they raise rates 25 basis points or they don't? will we notice other than the the rate? richard: increase itself is immaterial in a 17 joined al economy. what they are concerned about, of course, is that monetary translated through mortgage rates and currencies. in all three asset markets, they do not have full control over the market reaction and over the market pricing. have much less influence than they did 20 or 30 years ago. that is why there is all the skittish in a not because my five basis points means that much, but because of the way the financial markets are going to factor that in. they have not laid out a real strategy for the exit. it is part of the challenge. tom: thank you so much as we begin a four-day work week. getting back to the autumn as well. a lot of great themes in international

i think that their credibility at this point is on the line and i think that is what stanley fischer said when he spoke at the jackson hole conference and when he spoke on cnbc the other day. is that, you know, their credibility is really on the line. and i think that as a result, they are more likely than not to move this in september. i think i'm in a minority at that. many pupils that they will put the closure -- the raising off, but i don't think so. if they are going to get there at all, if they are going to move at all, it is not likely in the next month or two months or three or five or even six months that there is going to be a whole lot greater hesitancy in the case for raising than right now. in terms of the economy, not too bad. i think they are going to move. it will cost some -- cause some gyrations, but in this particular case, i don't think it is going to fundamentally affect the growth rate of the u.s. economy. where do you put this economy in historical perspective? and why do what to do that? you want to do that because, one, you want to see -- it has been a really

. >> stanley fischer to you said that if you wait for perfection, you will wait forever. >> right. >>kay. i understand there is a lot of problems out there in the world. there always has been and there always will be. are you in the camp -- listen. nobody cares what i think. just as brian sullivan personal citizen of new jersey, i think the fed is going to raise rates september 17th. what does steve leisman, non-cnbc employee but avid trout fisher marne thin eerman think? >> i think if the unemployment rate were to fall and i think if there's an overall or abiding sense that what's happening globally is not going to severely impact the united states growth case, then i would think they might hike in september. by the way, i think they'll hike is a signal they won't be doing a whole lot after that. >> i'll check the box leisman in the hike. but if we're waiting on inflation, it is like waiting for -- >> something else, too -- >> deflation and the stuff they measure,ing to have the kind of inflation they're looking for until we have a super cycle in front of us. >> one other thing, too.

. >> i think stanley fischer, bought the people he's smart enough to figure that out and do somethingut it. maria: you think we see a quarter-point in september next week. >> i would like to see it by december. in large part because of stan fischer. maria: she also asked mr. buzz said, is the u.s. economy brio or inflated economy fed fuel. he's pretty adamant. the economy do see the opening. >> the businesses reflect -- it's not great, but it's okay. maria: at the top of the show you said you would by fox. is that which you would want to do in an an environment where the senator raising rates? >> i own apple. dagen: financials -- >> all of the above, yes. maria: thank you. oil prices stabilizing after a strong performance in asia overnight. we will have the latest on news in energy. stay with us, we will be right back. technology empowers us to achieve more. it pushes us to go further. special olympics has almost five million athletes in 170 countries. the microsoft cloud allows us to immediately be able to access information, wherever we are. information for an athlete's medical care

stanley fischer tried to walk back a little bit.n preparing the market to move right now. the prep starts today. they don't move, but what happens is yellen in their press conference and very importantly the speech in a week in amherst, massachusetts starts to make the case and then we see something in the ear. >> i think it's a very close call. wall street is very divided. they look at stocks or currencies. even in a two-year space, even though the shirt and a suggesting a 30% chance. unemployment rate has fallen substantially faster. they've written off the low inflation was the message by cher fischer gave. unless there's a big change in rhetoric, the fed fears we can get started. maria: michael. >> one of the things we will see in the statement in the press conference today, the fed is updating its economic forecasts. they are going to acknowledge that the economy is either at or near full employment. the unemployment rate of 5.1% is about where -- close to where it is going to end up in the long run. so the focus then becomes t

the and yellen and stanley fischer said after they start raising rates, they will be very cautious and. another was not aggressively to raise rates. we saw yesterday evident is how cautious the feds will be. if it gets any insurgency along the way, they will stop or slow down the pace of days. we are the cannot rates a year or two years from now which are maybe not zero, but still very low. maria: many contributors have been so accurate. keith macola, congratulations with your new baby face. he's been so accurate calling for a no rate hike. he's also been talking it's absolutely impossible to raise with the global environment. >> speaking of babies, my youngest child was born nine years ago the last time the fed raise rates. maria: so your name to a magistrate. >> he has never seemed in his lifetime a rate hike. i'm convinced he will be driving a car by the time the fed raises rates. not only is the fed raising rates this year, the fed is not raising rates next year. the fact will put china on the table, which is critically important, the fact they acknowledge publicly, they are gettin

go back to stanley fischer's speech, which was political -- which was prototypical inflation targetingwe had to be in front of the wage growth. to fomc announced something 4.7%, to 4.8%. let's say we do $190,000 a month. adam posen is with us from the peterson institute. he will continue with us. brian belski has to go shape up draft cams. brian, thank you so much. , incine lacqua, thank you london. michael mckee will pick up with us here in the next hour. "bloomberg surveillance." we are about the guests, including adam posen and ruchir sharma. stay with us, worldwide, "bloomberg surveillance." ♪ announcer: this is "bloomberg surveillance." shocks in greece he will reform and austere coalition. in this hour, adam posen joins us. and german engineering in the house. right. tumbles amid allegations of a right fraud. subaru would never do that. this is "bloomberg surveillance ," live from new york. it is monday, september 21. joining me, vonnie quinn and michael mckee. maybe not as exhausting as last week. know, it isnever only monday. janet yellin will speak on thursday. michael: we are

. >> you are making the same point stanley fischer made where we go from altra accommodative to onlyen you look at these numbers, the fed mandate is the u.s. economy. this does not suggest the u.s. economy is in trouble, does it? scott: certainly not in any stretch of the imagination. we are nowhere near a recession right now. we are adding jobs at a very good clip. things might have slowed down the server you are still talking about 2.5 million jobs per year which is a strong pace. it is an unsustainable pace over the long-term so the fed is looking at where the economy will be 12 to 18 months from now. they don't really have to hit the brakes. much dr.k you so brown. michael, would you please explain where the debate is of heardg -- versus what we which is that is nuts do not raise until there is a vector, until a measure trajectory is advised. michael: they feel inflation is -- we are in a deflationary period. in tells us inflation can excellently quickly. tom: if the empire number a big deal? michael: no. it is not a big deal. we have almost no change in futures after the retail