by tying the issue of regulatory burdens on our businesses which slow the economy with the facting thatwe need a thriving economy in order to address our debt crisis. and so the idea that we've come up with is this. if we're face and we will be faced with increasing the -- increase the debt limit in this country again, then in order to increase that debt limit, shouldn't we then face -- shouldn't we put in place some kind of a mechanism to spur economic growth at the same time? because if you're just increasing death without economic growth it's it's a spiral that results in more broken credit. so the idea would be this, that you take -- say you increase the debt limit by a trillion dollars, then would you at the same time have a regulatory reduction, reduce the regulatory burdens on businesses by some percentage. so maybe have a 15% reduction in the -- in the cost of regulations for every "x" amount that you increase the debt. so what do you think about that kind of approach to find the regulatory cost, to limit that and use that? >> i think anything you can do to reduce regulatory bur

but what's your sense of the economy. a lot of people are wondering and questioning whether this is strong enough to see a spring of interest rate hikes, and will the fed stomp out the growth just as it's gaining traction? been report recovery has been been are been: the recovery has been pretty consistent. maria: how would you characterize the economy. i feel like the auto industry polling over in the first quarter. what are you have seeing? ben: what the fed is looking at is the fundamentals for consumption. housing is up, unemployment down, consumer confidence is good. all those things indicate the consumer will be okay. that's a big part of the story about why the fed thinks the recovery will continue and they want to continue the tightening process. maria: would you say it's more the business side of the economy pressured the lasteveral years other consumer? i feel the business sector has been sitting on cash for quite some time. ben: a disappointing aspect has been capital investment. to the extent that businesses ar

that could be a sign of issues with the economy. overall, in terms of payroll growth, that appears to be a trend we will probably see for the coming months. from doug is calling connecticut. he is employed. caller: i had a comment about our unemployment rate getting so that employers are going to start having trouble finding qualified employees. host: what guest: do you think about that? guest: it is an interesting point. we do have low unemployment, but we also have labor force participation that has declined this last months. we have not really seen an increase in that in the less year or so here it i think that would indicate that there is still some slack in the labor market and that there is still some possibility of employers still looking for workers to fill these jobs and workers still looking for jobs to fill. about there talking latest jobs report. we are taking your calls. if you are employed, call 202-748-8000. if you are unemployed and still looking for a job, call 202-748-8001. if you are unemployed and have stopped loo

so, for a moment, the direction of an upgraded economy. , iwant the direction of an upgraded economy. so, for a moment, i want to speak directly to entrepreneurs and business owners and managers. to the self employed, we respect your drive to strike out on your own. but, if you are wasting hours chasing down payments for work you have delivered on—time and on budget, you are being held back. if you have got a great idea for a robust business plan, but can't afford the cost of childcare in the setup phase, you are being held back. the small business owner, you are the economic backbone of our country. if you are failing to grow your company or your co—op by being denied credit from a banking sector more interested in fits from home loa ns, more interested in fits from home loans, you are being held back. if you cannot invest because of the sudden hike in punitive and unfair business rates, you are being held back. i say also to the ceo of a large enterprise, i recognise the immense responsibilities you carry each day. if you are unable to fu

concerned about the japanese economy. economy. what needs to be done now? i think that the country has done a massive... they have done a monetary easing. we have experienced or implemented a large number of fiscal stimulus packages. still, economists and others. we now shift our focus to economic reforms and we tend to think that labour market reforms should be the most important thing, because we are now suffering in their sales industry. we tend to think that shinzo abe house to shift his focus on the labour market and stimulate productivity. thank you for your time today. us and eu officials have decided against a la ptop officials have decided against a laptop ban on flights from europe. that was after a meeting to discuss the threats to aviation security. they said other measures were still being considered. a previously said they were looking at extending a europewide ban on electronics on flights from eight mostly muslim countries. the measure was introduced over fears that a bomb could be concealed in a device. lo

the fed minutes signal the u.s. economy is strong enough to warrant another hike. the big question now, when does the balance sheet reduction begin? slipping on oil. opec and its allies support nine-month extensions but will members adhere to this agreement. brazil's embattled president. protesters torched government buildings. is the market already starting to price in his departure? less than half an hour away from the european open and i am not sure if we will see ripples from brazil although that story is important and fascinating. take a look at futures, up across the board here. this is after we had new records in the u.s. yesterday, gains in youn stocks as well and so see european futures gaining here. also take a look at the bund trade. we have the yield coming off fairly substantially so investors are buying german debt right now i'm a pushing the 0.8. down to zero -- blowing out the u.s. german spread. pretty ridiculous, our guests said as the german yields need to come up. that is definitely not happening today. the li na. that is something to talk about

we are also having a shift from the old economy into the new economy in china. ors say it's only natural for this gap to remain going forward. this calls into question the relevance of the h share index, doesn't it? reporter: the index compilerreporter: off of the gauge has said that the index is becoming less representative of china, and they would consider expanding the universe to include other chinese companies kong.re traded in hong as one manager points out, it still wouldn't include u.s. alibaba,mpanies like which has become significant. it still calls into question the relevance of the index. rishaad: thank you so much for joining us. of hk at the big discount shares to the msci china once. two years ago, it was responsible for japan's biggest initial public offering in recent menu -- memory. now it is facing a loss after booking a massive write-down. in the next hour, we speak live with the chief executive of japan post. ♪ ♪ announcer: from our studios in new york city, this is "charlie rose." jeff: good evening, i'm jeff glor at cbs news, filling in for

both up and down as bad for the economy. onomist, i do not agonize over the moves we are looking at. david: but it is also other commodities like metals. china has a big challenge with the kind of credit they are taking on. at some point, they will have to turn it around. could this be a canary in the mine shaft? >> it could be, but i suspect it will not be 2017. david: you basically think that the commodities will continue any steady path and not continue to fall? >> it depends what commodity. david: iron ore. >> iron ore was the one commodity that had unbelievable spending of capital over the last decade. why did the price go up? because of things that happened within china last year. we had a doubling of iron ore prices, and now they are coming back to earth. david: good with excess capacity in steelmaking, particularly in china. there is a lot of pressure from the u.s. with cutting that back. >> iron ore production will go down. we are respecting iron ore to continue to go down through the year. jonathan: talk to me about

it is worth remembering something like 80% plus of the u.s. economy doesn't face foreign competition. it is domestic services. there are a lot of things going on, but the facts are undeniable that people getting paid for their human capital, people being paid and sharing in the bounty that has been the increase in profits and the increase in gdp, that sometime 20 or 30 years ago against a -- ago begins to break and by , now they have really diverged pretty significantly. >> glenn? glenn: to answer these questions, i think we need to look forward, not back. the economy lindsey is living in is very different than the economy your parents lived in. . i would argue the period from 1945 to 1975 was an anomaly in american history resulting from the fact that unit states and the only productive labor force in the world. that fundamentally changed in germany and japan had rebuilt, and when china enter the marketplace. that is point one. if you look at the manufacturing economy, the united states has never in its history manufactured more than we do today. 198

be in can forecast the economy precisely. the question is, do you try to make an honest forecast by using outsiders, or do you try to create your own narrative that isn't supported by any outsiders. it's a good analogy. companies get to report their financial statements with the awed towards or without auditors. with accountant or without accountants. maria: this is a policy blueprint and obviously it will get marked up. this an idea from the president and then it will go to capitol hill and get marked up. so this is not the budget it's going to be after going through congress. >> thank god this budget is going to be marked up. but all previous budgets have been internally consistent, honestly accounted for statement of the president's vision. this is a assumption about growth without recognizing in the budget the thing that's supposed to generate the growth in the form of tax cuts. and this is a forecast in terms of growth that has no external validation. maria: i'm going to take a break. when we come back i'm going to ask, d

is the economy weak here? >> this slump is different than the last sulumps we've seen in the last five years. this is the week we're going to find out if that was a temporary slump. we think it's a temporary slump. we'll get manufacturing tomorrow. of course, friday, we'll get the april employment report. march was very weak, 98,000 jobs. we're expecting a big swing back from that, from 2005. we think all of the data from here on out will improve coming this spring. we felt that temporary factors held back growth in the first quarter. >> i have heard anecdotally from companies that they saw weaknesses in january and february. but things seemed to pick up a bit in march? >> things definitely picked up in march. i think the biggest things january and february was the delay of the tax refund. we have $55 billion behind in tax refunds. that's a lot of money considering the ordinary valuation in retail sales is about 4 billion a month. we started to see that go back up in spending. it was weak in the first quarter w

the economy, close to collapse, is now growing at 7% a year. e and investment are vital for future growth. iran has struck trade in the oil and gas sectors and ordered new aircraft from airbus and boeing. and peugeot are back making cars. but the main conservative challenger to hassan rouhani says the rapprochement with the us is failing. 0ne rapprochement with the us is failing. one in eight iranians is unemployed. the wealth gap is widening. he wants to give iranian firms the lead in rebuilding the economy, rather than dealing with the west, and wants more trade links with countries like china and russia. he also promises to create millions of newjobs for young iranians. but he has not yet said how. jeremy howell, bbc news. reza shaybani is chairman of the british photovoltaic association which is working in the solar energy business in iran. welcome to the programme. thank you. are you concerned about the elections? some of the markets could be reversed. not really. we see the acceleration of the growing economy will carry on regardless of...

but what's your sense of the economy. a lot of people are wondering and questioning whether this is strong enough to see a spring of interest rate hikes, and will the fed stomp out the growth just as it's gaining traction? been report recovery has been been are been: the recovery has been pretty consistent. maria: how would you characterize the economy. i feel like the auto industry polling over in the first quarter. what are you have seeing? ben: what the fed is looking at is the fundamentals for consumption. housing is up, unemployment down, consumer confidence is good. all those things indicate the consumer will be okay. that's a big part of the story about why the fed thinks the recovery will continue and they want to continue the tightening process. maria: would you say it's more the business side of the economy pressured the last several years other consumer? i feel the business sector has been sitting on cash for quite some time. ben: a disappointing aspect has been capital investment. to the extent that businesses

other corners of the economy. so to the extent that they are driving a great deal of value creation, i think a lot of the move in the stocks is justified, although it has been a little bit of a breakneck pace over the last six months. >> if you are a long term investor, should you trim some of those positions and maybe wait for a pullback before you get back in or do you let it ride? >> it's a great question. we kind of grapple with these issues on a day-to-day basis. but we are long term investors as frost. we've been involved with all these companies except for netflix. netflix we added in fall of last year and it's worked well thus far. yes, i think it's just common sense, when a stock or a group of stocks have had a big run, i think it's common sense and good risk management to take a little bit off the table and to trim those positions and bring them closer to where your target allocation might be. that's how we think about it, at least. >> what about amazon crossing that $1,000 mark and closing just below it

right now, the bright spot of the economy. slinda amin joins us from singapore with the special guest. said, lots of you data to digest, all coming soon. some are saying that the fed might be moving too much, too fast. let's get perspective from the san francisco fed president, joining me here. welcome. >> great to be here. haslinda: you are still hawkish, looking at three rate hikes, and you're not even writing off four. why the optimism? >> i think the data is very good. we are adding 180,000 jobs per month, twice what we need to bs sustainable level. unemployment should be going lower for the rest of the year. the economy is doing well, with good momentum. we have a way to go on inflation goals, but i am optimistic about the economy. we need to continue the process we started of getting interest rates back. haslinda: let's pick up on inflation. why aren't you that concerned about weaker inflation data? >> the inflation is influenced by a lot of different factors, and we have seen some transitory things push inflation down. b

our view is that not that the u.s. economy needs further stimulus from policy. the u.s. pretty well. we are pretty optimistic about the second half. again come and not because there is legislation coming through. one of the things that is not focused on is the environment. we think the idea that this is perhaps a better is this environment than what we have experienced, and it can have a real impact without legislation. david: it is deregulation actually? >> i think that is a big thing. the u.s. economy does not need fiscal stimulus right now. what it needs is to unlock productivity. deregulation or the lack of future regulation is unleashing some of these animal spirits. thed: does that answer factual question, if donald trump had not been elected president, where with the s&p 500 be today? >> that's a tough one. jonathan: that is the eec way out. david: where would the yield be? the answer is i don't think it is that much different than where we are today. again, for the same reason, which is the u.s. economy is doing well, companies are doing well, the labor market is

david: but the economy is slowing down. the gdp figures were obviously, 0.7% for the first quarter. >> that's right, i think the atlanta fed revised higher, but you're right, it looks like auto sales not coming in as strong as expected. david: auto sales are down. >> what the president is facing is the swamp and he wanted to drain the swamp, the battle is the swamp winning? will he start looking like his nemesis arnold schwarzenegger who had epic battles with sacramento. donald trump is up against the d.c. elite and establish pt there. can he get it done? will tax reform happen or at minimum tax cuts. david: john tamny, it doesn't go as far as far as i'm concerned. we go from seven brackets down to three brackets and it cuts the individual income, at th that-- tax rate and the corporate rate. >> the index whether the economy is growing is irrelevant. the better point to make, the americans have their work personalized too much and investments penalized too much and their death penalized tomorrow. cuts to stimulus is obvious,

economy is changing. you recognize that? >> the new economy you mentioned is the internet economy. , but at the same time brought about unemployment. it has forced a lot of brick and mortar retailers to close down. i notice in the u.s., the retail sales sector has also been affected. i think the internet, e-commerce, is a platform. it provides convenience to consumers. but some of its practices are not right. they are unfair competition. for instance, some of those in the industry are burning money in exchange for more traffic. productd a profit -- a -- 80100 yuan for 81 yuan. if they stick to fair competition, i think it is fine, but the problem is they have improper means of competition. reporter: for someone who wants to take your tricks empire global, what do you think about the protectionist rhetoric that is writing and many parts of the world, including the u.s.? does this sentiment or the threat of punitive tariffs change how you might look at an acquisition, say, and the u.s.? there are rumors you have been looking at a dairy company in the united states. does it make you ch

we know that monetary policy affects the economy with long lags. e to be taken before our goals are met. are back with the ceo of hassium asset management. we hear this, but also jim sounded a little dovish as well. what do you expect for the fed in 2017 and 2018? 100% rob ability of a rate hike is already priced in. i know the probability is around 60% when you look at futures markets. three hikes, 14% looks a little far-fetched. the problem with the fed increasing rates as much as suggested is there is too much quantitative easing in the system for the u.s. to do it as quickly as they would like to. they are concerned about inflation numbers. we have inflation coming out on friday, which will likely increase. it is hard to see three hikes on the table. we are comfortable with two. that is how we are investing. manus: thank you very much. assets the ceo of hassium management. up next, we will talk about the eu wrestling with negative interest rates while iceland has the opposite dilemma. amid speculation that iceland may be about to take up. a disc

the economy has been improving. although there has been weakness in china recently, and geopolitical risk in europe is lower. investors believe in the trump agenda of lower taxes and infrastructure spending. they believe the markets can withstand a certain amount of political drama as long as his agenda keeps advancing, even if slowly. but what's happening now is different. most of trump's tweets in the past, while not odd, were not actionable. this is actionable. talk about obstruction of justice or an impeachment fight, that's a whole new level of uncertainty. we're faced with the prospect of a president derailed by months of fighting. the risk is that even if he survives, he loses so much political capital that the only thing he can get through is something everybody agrees on like infrastructure. the potential for a 5 to 10% pullback has increased. now, it's about time we had that. we haven't seen a modest pullback in a long time. the bottom line, traders finally have a downside story with a little meat to it. wh

. ♪ david: this is bloomberg markets: the trump economy. s check on first word news and mark crumpton has a much more. mark: police have arrested a fifth a suspect in connection with this week's deadly terror attack in manchester. the suspect was reportedly arrested near the city and the ap said authorities are examining something the suspect was carrying. a day after britain race is terror level, the army is providing additional security at parliament and down it. and security will be stepped up at the soft targets like airports. prime minister theresa may ordered the military to guard landmarks and sporting events. house republicans are bracing for a new financial estimate under obamacare bill. if the budget office said the bill passes require bill targets, republicans could be forced into an a balancing do over on the measure is passed last month. are likely to meet rules that would allow a simple majority. asn is ready to continue part of the opec agreement at the same production agreed upon before according to the oil minister. he spoke

i said, is a factory that it is affecting every part of the economy. i can show you a dairy where the proprietor says i don't want to give you this to her because the cows are not used to seeing humans. is extraordinary that it is extremely -- it is extreme narrative. machines feed them, milk them. if you are going to have a dairy like that, what is it that human hands contest that can't be done by a machine? i would rather have that factory or bakery here in the united states. we still have to wrestle with it, and it does help drive inequality because we have this shifting major from what was spent on labor versus capital, and now it is capital and a modest amount of labor. is going to be a big challenge, and we have to think dramatically on how we restructure create these minimum wage job, which is it what your proposal today is about. how do we create those living wage jobs and this economy? >> want to take audience questions. just identify who you are. one is coming over there. great to see you. >> hi. [inaudible] -- the tax rate -- [indiscernible]

the impact on the global economy and the european economy is unpredictable, so therefore we prepare foras much as we can. rishaad: you don't know what it is, that is the problem here, but industrial capability in britain? >> we don't have a production footprint there. rishaad: you sell into that. >> we do sell into britain 2% of revenues, so it should not be a major impact on our overall economic status. rishaad: why is your company called covestro? >> it is a bit of the hen and the egg problem. it is collaboration in investment and strong. covestro that is where comes from. rishaad: that is really tenuous. thank you indeed. , a combination of collaboration, investment, and strong. genius. thank you, frank. to watch, the stocks investors returning after that public holiday. that is next. this is bloomberg. ♪ haidi: i am haidi lun in sydney. this is "bloomberg markets: asia." rishaad: we're counting you down to the start of trading. the index in the pre-auction up a fraction. hang seng futures indicating a more pronounced rise, but not that much. shanghai, a pharmacy a making apparently

overall, the us economy has lost more than 90,000 retail jobs since october 2016. uch space, too mount inventories. then we had the internet, that has also had a big impact. the story is repeating itself across america. this is what is left of this small, showing the demise of the american shopping centre. it's lunchtime and i'm in the food court. normally it would be really busy, but as you can see, it is rather quiet. this is what happens when the big department stores leave. they take the customers with them. in just the last two years, both macy's and jcpenney have closed their doors at this more. the future of sears is looking rocky. this store is also collateral damage. there are not a lot of stores left. we still have hope. in the absence of customers, hope. in the absence of customers, hope may be all this store has. but it isa hope may be all this store has. but it is a hope shared by the new owners of the more, who believe they can turn it around. nationwide, the outlook for retail looks bleak. nationwide, the outlook for retail looks it has been a tough f

banking reform at all the economy? these are parts of the puzzle and the legislative reality, trying to move healthcare, move reform. there are initiatives he wants to undertake, it's been slow does adding one more huge one to the pile do? host: our guest will be with us the issues.t 202-748-8000 for democrats. 202-748-8001 for republicans. independents, 202-748-8002. you mentioned glass-steagall, you history as far as graphics are concerned. or problem ofssue having a close marriage between the two sides of the commercial banks?estment guest: in simple terms, when you go back to 2008, the starting this discussion, the question of too big to fail. of is what a lot politicians on both sides of the aisle, particularly in the part of the party, yeah, there was an agreement there should never be another big to fail" scenario again. there has been changes to everything in the economy. is, how do you move forward with protections that really address the problems, not in like 1930's kind of way, but modern way. host: with that

place in the global economy? sec. ross: we are going to be playing the same role as before, except we are going to be more assertive about it being done in a proper and more balanced fashion. it is not inherent in the concept of free trade that one nation absorbs as its deficit cumulative surplus of the entire rest of the world. that's not an essential ingredient to free trade. tradeountries talk free and are quite protectionist, china being one of those. we are about at least protectionist country in the world, and we have the biggest deficit, while the protectionist countries have big surpluses. those facts are not going to continue to coexist. david: the president sat down with two of our reporters, margaret tellis and, jennifer jacobs. he brought up a reciprocal tax. can you offer more detail on what that is, what that might be? sec. ross: it's not a tax, it's a concept, and it's a very valid concept. when you think about it, the original concept of free trade was that each nation would export whatever it does best

the economy has slowed in recent months. they go on to stay in their statement that that is going to change. and growth during the first quarter is likely to be transitory. the economy remains roughly balanced. there is a significant change to the inflation assessment. it has been running close to the committees 2% longer run objective. the statement says although they acknowledge the decline in core inflation in march. the slowdown on consumer spending which they say rose only modestly, but supporting their view is a temporary cause, the statement notes the fundamentals underpinning the continued growth of consumption remain solid. and business fixed investment firm. what is not in the statement is any hint of future policy moves. and there is nothing on balance sheet policy. we go back to the idea of being data dependent if the fed is going to move in the future. it will have to be proven right about a transitory effect on the economy. all of us here in the dos were really. free today. why are we not discussing dots? michae

but what's your sense of the economy. a lot of people are wondering and questioning whether this is strong enough to see a spring of interest rate hikes, and will the fed stomp out the growth just as it's gaining traction? been report recovery has been been are been: the recovery has been pretty consistent. mari how would you characterize the economy. i feel like the auto industry polling over in the first quarter. what are you have seeing? ben: what the fed is looking at is the fundamentals for consumption. housing is up, unemployment down, consumer confidence is good. all those things indicate the consumer will be okay. that's a big p the story about why the fed thinks the recovery will continue and they want to continue the tightening process. maria: would you say it's more the business side of the economy pressured the last several years other consumer? i feel the business sector has been sitting on cash for quite some time. ben: a disappointing aspect has been capital investment. to the extent that businesses are opti

the u.s. economy, former fed chair ben bernanke gives me his take on where things stand and what the trump effect really will be. then, donald trump wants to make america great again. but neil degrasse tyson is on a quest to make america smart again. >> innovation in science and technology, in this century are the engines of tomorrow's economy. >> america's favorite scientist will reveal just the secrets of the universe to all of you. but first here's my take. there has been much focus on donald trump's erratic foreign policy. the outlandish positions, the many flip-flops, the outright mistakes. but far more damaging in the long run might be what some have termed the trump effect. the impact of donald trump on the domestic politics of other countries. that effect appears to be powerful, negative, and enduring. it could undermine decades of american foreign policy successes. look at mexico. for generations this was a country defined by fiery anti-americanism. founded by a radical revolutionary movement

the indian economy will be at 7— 8%. we will reach that. ys it is "working round the clock" to reunite passengers with their bags but it will take some days to clear the backlog. many people have contacted ba on social media to complain they still do not have their luggage back. the airline is now operating a full flight schedule and its it systems are up and running after the systems failure over the weekend. thousands of flights were cancelled with 75,000 people affected. so, what kind of damage will this do to ba? with me isjohn strickland, aviation and airlines expert from jls consulting. sojohn, still so john, still thousands sojohn, still thousands of so john, still thousands of angry customers. what long—term damage could there be to ba, do you think? the airline will have two work to get the flying programme back into normality, as they are doing right 110w. normality, as they are doing right now. the baggage problem will be sold as you describe. but they are premium airline. they rely on premium airline. they rely on premium custome

and the market that's most valuable of all the economies in the world, it's the u.s. economy that drives innovation and moves the global economy more than any economy in the world, in my view. so we have a circumstance where parties want to have a good relationship with the u.s. government on the one hand so they want to voluntarily embrace a regulation that's important to the government and on the other hand they certainly don't want to go through and consummate a transaction and then find after the fact that the united states government wasn't happy with is that transaction because of national security concerns. both for that transaction, alex, and for subsequent transactions to come for those parties. alex: hogan, your firm, made a big hire. hired in san francisco. they did the facebook deal. hogan -- is hogan trying to sort of say to the world here, we want to compete with the big guys in m&a? think of us as you think of others? bill: we are a global 10 head count. but we know, like our clients, say that silicon valley is the marketplace of ideas. where our clients

that's different than saying the u.s. economy and the market is in a bubble and is going to have a traumatic decline. if we think last point about 99 and 2000, they were ridiculous. i believe in this situation. it was in 2007. in 2007 -- in 2000 we didn't have a bond bubble. now in the u.s. i still like treasuries. 2.2% on the ten years is a huge yield compared to european and japanese bonds at zero interest. >> that's your idea? >> are bond yields as low as they are because it's a sign that the economy is weaker than people think or is it simply because of central bank intervention and still the sugar that everybody -- >> they haven't intervened but you see if you print money in japan and by the ecb in europe, the money is printed by essentially the central banks buying asset. i'm an insurance company. i sell bonds to the ecb or boj or stocks. they have liquidity. then i shift money to u.s. treasury so the printing jeefr seas has helped the dollar until say the beginning of this year. now i believe the money flows are shifting b

on how weking hard create growth in that part of the economy. out and getesh this into the weeds on this, i hope you will be briefing us. i know the finance committee has to restriction over this. we have more than a passing interest in all of it. sec. mnuchin: i will be more than happy to come back and read your staff on this. heitkamp: the demands of the american public and responsibility of washington, d.c. is to encourage economic growth. that can solve a lot of our problems as we go forward. i want to talk about the xm banks fear. the bank supported 164,000 jobs across the country. that's compared to 52,000 jobs in 2015 because we didn't have a quorum. in 2015 alone, three chinese export credit agencies financed a total of $500 billion. the potential there is that those could have been markets that were accessing but were not getting access to today. is au believe the xm bank critical tool for enabling american manufacturing competitiveness? sec. mnuchin: i do. i've spent a lot of time looking at this and i'm concerned that without more memb

is brighter, the u.s. economy rebound, things are evolving the way they should, except inflation. inflation has been softening lately. she said, if it continues to do that, it may cause her to rethink the outlook, re-think said policies. here is what she said. see some tension between signs the economy is in the neighborhood of full employment, and assigns the tentative progress on inflation may be slowing. it is that tension between the progress on employment and the lack of progress instant -- persists, i may reassess policy in the future. although it is premature to make that call today. kathleen: the fed governor lael -- said the other half is very important. all of a sudden, it is not heading toward target. at this.k you will see the results of the latest report where the fed's main gauge is in turquoise. it went from 1.9 to 1.7. it has only been above the 2% target once. energy slipped to 1.5 from a 1.6. this leads to her focusing on the big focus for the fed. if the labor market is so strong, why do we not

required the economy and what is. the verdict judgment is. and since 2010, and as a result, my honorable friend, there are more doctors, and strong public services, strong and stable leadership delivers a strong economy. >> mister speaker. i think what this nation needs is a strong and stable government. but isn't it the case that thanks to evolution we will not only just have, i hope strong and stable government, in the westminster, strong and stable leadership, the right choices made after may 4th. >> people in the west midlands have the opportunity to elect a strong leader overseeing 8 million pounds investment >> the local knowledge and business experience and a commitment to the west midlands to deliver the whole of the west midlands. on 8 june, to elect the strong and stable leadership and conservative government working together in the west midlands and strong conservative leadership in government. >> richard? > this morning i had meetings with ministerial colleagues, i will have further such meetings later today. >> in 2015 a group cal

india has retained its crown as the fastest growing major economy in the world. onomists are predicting indian economy grew by 7.1%, that's in the first three months of this year. but would be faster than china which is currently at 6.9%. the resilience of the indian economy will be welcome news for prime minister narendra modi following the country's landmark demonetisation programme. that was when — at the end of last year — the government removed around 86% of all banknotes from circulation in a bid to crackdown on corruption. it led to widespread disruption and queues outside banks and cashpoints, but the shock announcement seems to have had limited impact on growth. and there could be more good news for the indian economy next month when consumers will see major tax reforms. from july, all purchases will fall under a single "goods and services tax" and that's lower the average rate charged now. sameer hashmi has been following the story is in mumbaifor us. you've been witness to those huge queueing and chaos that interviewed after the banknotes were withdrawn

the u.s. economy is better than most other economies. an and the ecb are still easy monetary policy. when it comes to fixed income markets, the fed will raise rates if not once, twice this year. the funds will be at 1.5% by the end of the year without any major issues which mean -- which means corporate bonds and some income and survived the rate rises. those are the big themes i would think going forward. how would you navigate an increase in geopolitical risk? there is an argument to be made that is more likely to increase in disgrace in term of the risks. what would you do? >> usually the hard part of managing risks that are unknown and can happen at any given to buyis simply you have insurance. if you think there is going to be a war in north korea and it could get ugly you have to be long short data treasuries. you have to believe the fed will not raise rates. you have to be along the u.s. dollar as a safe haven currency. willing premium are you to pay for the insurance? what is the -- what if the geopolitical risk does not come true