u.s. economy. others think it will not pull the trigger due to concern over low inflation and the impact on fragile emerging markets. central bank or get a look at inflation on the consumer level as its policy meeting begins. there doesn't appear to be much evidence of inflation in the u.s. economy. economists are looking for no change in the index for august compared to the prior month. the core rate takes up the volatile food and energy sectors only expected to rise a 10th of 1%. besides the interest rate decision, the fed will release the economic projections. nicole: lauren, i've been sending this to traders and guys who work with closely. the chief investment strategist just thought we put up what he was saying. if we could renowned up again. we've been talking with him. he said the body language as they are going to raise rates this week. lauren: but it's been a mixed bag depending who you ask. for every analyst who says they are hiking, another says they are pulling off the band-aid just yet

u.s. economy? >> well, certainly, if they were sufficiently confident in the labor markets and sufficiently confident in the path for inflation, they would have acted. but the thieu multiple around the world have made them a little bit less certain about that. i don't think it should be taken as a vote of no confidence but obviously if they had been more confident they probably would have acted. >> so is an october rate hike in your book on the table? or do they wait for december or maybe into 2016? >> so, i think october is highly unlikely because they said they wanted to understand the impacts the what is happening in china. that's probably going to take a little bit more time to see. they also want to make sure that inflation is getting back to its 2% goal. there is not going to be a lot of data between now and october for them to really change their assessment. possibly by december. so i think december is on the table. but it also could be beyond that. >> even though it's an election year comin

u.s. economy is getting stronger. >> i don't think the u.s. economy is getting stronger. >> do you feel worse about the economy today after the fed's nonmovement and dovish statement? >> i felt bad coming into it. >> u.s. or global economy? >> both. >> the big word today was global. >> you can't delink the two. 30% of u.s. growth earnings growth comes from overseas. not only that, they say china's affect is only 1.6%. there are bigger knock-on effects. >> financial market conditions. >> absolutely. i think we are going into a global recession. we have the risk we end in a deflationary spiral. the two things i'm doing, one, you don't fight the fed. fed wants oil prices higher, you buy oil. you buy gold and sell the banks. >> sounds like you're buying canned food. >> i may be. >> welcome to the show. >> i actually agree with a lot of what bk is saying. they added a whole other dose of uncertainty. i don't agree they have to go in october or december. i think what's going on overseas specifically in emerging markets is troubling for the fed. they

u.s. economy slow down, so certainly u.s. interest rate hikes can be a negative impact on the korean economy as a whole, i think. >> now, looking at the markets, tokyo stocks fell after the u.s. federal reserve stayed put on interest rates bucking the trend in other asian forces. we have the details at the tokyo stock exchange,giang? >> low interest rates traditionally good for the market pulling investors out of risky stocks so they breathe a sigh of relief, but weaker dollar and u.s. bond yields hit tokyo stocks. with that, we saw the nikkei drop 2% snapping three days of gains and finishing at 18,070. the broader topix fell almost by the same margin. stronger yen weighed on export related shares like toyota and pan sonic,nd insurance took a hit. just treasuries will be a drag on the balance sheet. life insurance down 6%, and msad insurance dropped over 5%. seven and i is planning to close low performing outlets. in china, slowing economies loom, and analysts expect a rate hike later this year or early next year. with that,

u.s. economy. instead of a hike, they think it's better for federal reserve to call a time-out on raitsing rates. for nightly news report i'm steve liesman. >> our guests tonight have very different views what to do david kelly chief global strategist at jpmorgan funds. he believes the feds should have raised rates a long time ago and ought to do it now. jeff fineman, he thinks the time isn't right just yet. he wants the fed to stay put maybe until the end of the year at least. gentlemen, welcome. josh, it's not that you think the feds should not raise interest rates, it's just that you think they need a little more data before they do. right? >> yeah, i think we're getting close. the economy made a lot of progress, feel a lot of damage from the great recession. i don't think we're all the way there yet. i think that said we'll probably want to wait a little bit longer to get a little more confirmation that their outlook is holding prudent person. >> what more data do they need? >> a little bit mor

u.s. economy has added more than it00,000 jobs. on top of that, wages are heading higher, which is seen as a sign of a strengthening labor market at least by some. some say that a strong jobs report could prompt the federal reserve to raise interest rates in the united states. that is why this jobs report was so closely scrutinized this month. american rates are near zero, and the fed hasn't hiked those rates for nine years now. there has been much speculation whether a hike is in the cards when the federal reserve on its governing council meets in two weeks. for more analysis of what the fed may do, i spoke earlier to angus campbell at essex pro. he said the jobs report is a mixed bag. >> the actual headline figure, which the number of jobs created over the last month is the key number. it is only 173,000. the federal reserve had been hoping to see consistently over ,000 month on month. is just -- consistently over 200,000 month on month. if they want to kick it up, they have to see morrow bust job creation than that. yes, the une

u.s. economy. it plays a supporting role, but consumer spending is the main driver, bolstered by, you know, decent outlook for investment spending, but i would continue to expect housing to improve and, remember, we are envisioning if things go as we anticipate a pretty gradual path of increases in short term interest rates over time. to some extent that's already embody yeed in longer term rates. on the other hand as time passes and we move beyond the window in which short rates are zero, it will be natural for long rates to rise some and of course, we recognize that the housing market is sensitive to mortgage rates. it is an important factor. but that's something that of course we are taking into account and thinking about what's the appropriate path of policy. >> nancy marshall with marketplace. you mentioned you have gotten a lot of unsolicited advice, the folks outside, but there is another side that says the fed should raise interest rates because keeping rates so long for so long has actuall

u.s. economy, and is actually good for some sectors of the u.s. my. -- i don'tnk that believe in the global doom and gloom scenario that a lot of people are painting, but i also think we should not underestimate just how serious this economic adjustment that china is going through will be. angie: i don't think that anybody doubts the fomc is taking it very seriously. do you think they will take it seriously enough to defer any rate hikes this month? guest: this is the interesting thing. some people look at commodity prices and say, aha, china slowdown must be deflationary and therefore the fed should back off because it is one more diminishment of global demand. i don't necessarily agree with that. i think that's one side of the equation. isfact, china's rebalancing about creating a new source of global demand from the chinese consumer. i don't think they should look at china and see that as a reason to hesitate to raise rates. angie: so you are calling for rate hike this month? will they do it? guest: i would prefer to see it, because, let me be c

u.s. economy doing ok, and we do not have to be at zero. maybe that will help stock prices.ically, good news is not bad news for the markets. good news can be good news. that is what you are saying. scott: we are past that. the economy can embrace good news versus more stimulus. alix: oil has been a huge weight on the market, especially what energy stocks. where do you see oil being able to bottom right now? below you had the break $40. that is one every analyst said it was going to $20. it had that sneaky three-day move. it called off on -- it could have fallen apart. if oil could hold above $42 and hold higher, maybe that will give confidence that the $38 is a low, oil names will rally, and that could broaden the move because the rally was so specific, with such a small amount of names, it could not hold. if they start to bounce, that could be helpful overall. alix: and the shanghai composite. that need stability. scott: we talked about 2800. it held a 2800. there was a magician the cap bind the market into the close. if the shanghai can get over it 3200, maybe it gets out

u.s. economy with what is happening with the slowdown in the u.s. economy ? michael: it is all related. don't forget what the chinese .tocks did th a week ago, it doubled. there is confidence and wealth building into the chinese economy. that is being sucked out as the same time the chinese economy is slowing down is how i would read it. mike: the interesting thing is that the u.s. economy is not as exposed to china as people think it is. .rading with china is 1% gdp other countries are affected by china and our trade with them is affected as well. overall, there may be a little effect, but an interesting paper produced by jackson hole last week says that the sensitivity , and particularly china in the situation, is much lower than everywhere else because we invoice on the dollar with all of these trade items. doeshange in the currency not affect us the way it does other countries. china has not -- it is not a one-for-one trade state. they are adding 30% value because we send them parts, they assemble them, and send them back. there is a change in the trade relationship. it is not a comp

u.s. economy can stand it. the u.s. economy in my view needs it medium to long-term and i'm convinced that the u.s. will see a rate hike in september but i'm not focused on the next policy decision. if they move in november they'll move in the medium to short-term. rates will start going up and they need a longer term anchored communication process to make clear that the current turn around in policy will be followed by a moderate and more adequate raising of rates. getting the medium term communication right for the fed is much more a challenge than getting the first move right. >> interesting bis paper saying that the fed will lead the charge in terms of the tightening cycle. do you think that so many other central banks will follow suit? many of them are still firmly in easing mode. >> that's true and to some degree the world has been diverging. if you talk about the major central banks, we used to talk about the bias in monetary policy and in that sense i think the ecb still continues to have an easing bias saying th

u.s. economy between 2% and 3%.he other side is the global economy strong enough for the fed to raise rates? it seems like the answer can be no. alexander: we saw larry summers say raising rates could be a really big problem for the global economy. keep in mind, he was one of the people who are really been reactive during the asian financial crisis in the late 1990's. that's a big focus for him. it really depends on where you are looking. olivia: we're showing a picture of one of the biggest hedge fund managers in the world, warning that if the fed does move to raise rates, it's going to be a big policy mistake. -- the federturn will have to reverse track as we saw the central bank of new zealand do and actually lower rates if they reason in september. alexandra: the question is which will be at the top of fed's mind the week. janet yellen is a labor economist. she might not be paying as much attention to the inflation aspect. if you have this long-term downturn like larry summers says, it could really force eventua

u.s. economy. so for now, no increase in rates. but it signal ad rate hike could come later this year. let me read from the statement now. quote, information received since the federal open market committee met in july suggests that economic activity is expanding at a moderate pace. household spending and business fixed investment have been increasings moderately and housing sector has improved further. however net exports have been soft. the labor market continued to improve with solid job gains and declining unemployment. on balance labor market indicators show underutilization of labor resources has diminished since early this year. inflation has continued to run below the committee's longer run objective partly reflecting see clients in energy prices and prices of non-energy imports. go further in the statement. quote, recent global economic and financial developments may restrain economic activity somewhat and are likely to put further downward pressure on inflation in the near term. nonethele

u.s. economy. they want to see the evidence of that before they raise rates. >> so what evidence do they need? are they particularly worried about china? >> they are, and that became clear in their statement today that all this global financial instability is not the drop in the ssock market per se that worries them. it's whether that's telling them something about the state of the global economy. is china and other emerging markets slowing so much? that will affect u.s. growth. >> any clues about when the fed might finish its lengthy rumination and decide that it is safe to raise rates? >> it's interesting, janet yellen went out of her way to make clear perhaps the october meeting only a month from now or december they would consider raising rates again. some were thinking they were saying dovish signs. maybe they'll wait until 2016 to pull the trigger. i think the fed would love to feel comfortable about state of the economy that they can go sooner than that. >> when you look at the detail of the

u.s. economy. the committee continues to anticipate that the first increase in the federal funds when itl be appropriate is seeing further improvement in the labor market and is reasonably confident that inflation will move back to its 2% objective over the medium-term. it remains the case that the committee will determine the timing of the initial increase based on its assessment of the implications of incoming information to the economic outlook. the importance of the initial increase should not be overstated. monetary policy will remain highly a commentator for some time after the initial increase in the federal funds rate in order to support continued progress toward our objective of maximum employment and 2% inflation. i will come back to the policy decision in a few moments but first, i would like to review recent economic developments and the outlook. moving through the quarterly volatility, u.s. real gross domestic product is estimated to 2.25% in the at first half of the year. it's a notab

u.s. economy does look fairly good. if you look at the global economy, as you said, there are problems. growth is weak, the export markets are not doing well. but on top of that, and this is a point that is relatively new, the u.s. dollar has resurged up to a new record high. so big companies that are based in the u.s., that's ge, boeing, john deere, caterpillar that are selling their equipment overseas not only have weak overseas market, but also an extremely high u.s. dollar: so this is putting downward pressure on their pricing and on their sales. so that's feeding back. it'll feed back to the u.s. economy, and we'll see more of that in the next couple months. i think we'll see weak growth in the third quarter, and that will not play well into the october meeting, and i think the fed will seek a gain at the end of october. liz: for the retail investor, chris robinson, who's watching the pits and what you guys do in chicago and here at the new york stock exchange, where's the money flow ban in these last several hours?

u.s. economy and inflation. >> we've long expected, as most analysts have, to see some slowing in chinese owth over time as they rebalance their economy. and they've planned it, and i think there are no surprises there. the question is whether or not there might be a risk of a more abrupt slowdown than most analysts expect. >> reporter: how about the fed's growth forecast? gross domestic product, which has been a disappointing 2% since the end of the great recession, will remain the fed says an unremarkable 2% through 2018. gone are the days when the fed forecast acceleration in growth had approached 4%. still, yellen said if it were just focused on the u.s. economic data it's good enough for the fed to have raised rates already. >> the u.s. economy is reasonably healthy. the job market is good. overall consumption should be good. the problem is the remaining part of the economy, capital spending and net exports, that remaining 20%, 30% -- 20%, 25% rather is going to look horrible. >> it's worth remembering as lackluster as the u.s. numbers may be, they're still better than japan and europ

u.s. economy remain buoyant in the face of that? alix: great you brought that up.e have a chart the term premium on the 10-year yield and it basically is the extra juice investors demand to wind upholding long-term treasuries instead of short-term securities and it is negative. that reflects to me, matt, there is some panic in the market. there is some trickle down from the instability we've seen. matt: yeah. it definitely hits at this point treasuries are being used as a hedge against a lot of uncertainty and things that could go wrong in global markets in the economy right now. so investors are not demanding as much of a premium to hold those treasuries as they otherwise might. in a more normal environment. alix: all right. the panic starts to see ben, keeping a lid on those yields. thank you so much for sticking around. jon faust, you are staying with us. david: coming up, a surge in bartenders and waiters. why that is a telling indicator what is happening to the u.s. economy. the reason when we come back. ♪ alix: i'm alix steele. what'di'm david gora, you miss?

u.s. economy and the u.s.? >> we always hear about china. it is not the chinese economy. >> all the things can come up with our next interview with the guest that just snuck in to the right. general electric earned approval to buy the power business. $13.5 billion deal. it would be one of ge's largest acquisition. joining us is the chairman and ceo of ge, jeffrey emmelt. i said $13.5 billion after asset sales that are going to be required under it. it has been 9.5. >> less than 10. >> i have seen you do a lot bigger deals than the past. why is this important for g.e.? >> just another step along the way of the transformation of the company. it is a perfect fit with our energy businesses. it helps us grow globally. a lot of synergies and it helps us accelerate our industrial earnings at the same time that we are doing distribution and ge capitals. perfect business fit and well-priced. >> you have been talking about the industrial earnings and telling the market we are going to be doing between 1.13 to 1.20 this year. >> there is a lot going on

u.s. economy. i know it' s not exciting growth. these job numbers are not wow factors, but the housing market is performing well. consumer confidence is high. i believe the u.s. economy, market, represents one of the money. anthony: what do you think? cars. we are selling homes, both single-family and a multis. the rest of the world is looking at the united states and china. why do i say "and china"? everyone thinks china is a horror story. how would you like a 5% gdp growth rate in the united states? china has cut their growth rate from 10% to 5% in , i would say, timeframe, if beijing doesn' t like the effects goes back to 10%. they have the ability with one billion people to wield an incredible amount of, what i think in some cases is bad influence, i.e. the stock market where they tried to basically shore it up. a markets have got to be left it -- anthony: you are bullish on economic growth? dick: absolutely. donald: there is no place in the world to put your money. anthony: why? donald: david stockman who has been a bear on ch

one of the tail wents in the u.s., the economy is doing well, but u.s. companies are starting from a high level of profit margins. likely to come down a bit. in europe, you do have some prospect for margin expension, which is more difficult to come by domestically. >> you want folks to underweight u.s. discretionary stocks, a leadership group. is that because you think the fed is going to move and higher interest rates are going to be a dent for the consumer? >> actually, it's not. i think the consumer of the u.s. is in decent shape. you had numbers last week, overall net wealth is now at a record. it's not so much i'm particularly bearish on the consumer. but as you point out, this group, this sector's had a phenomenal run. a lot of that has been based on the assumption that the consumers are going to come roaring back. while i'm positive on the consumer, i don't think we're going back to a late 1990-style environment. i think that's what's been discounted into many of these names. >> can stocks go up if rates do? >> sure. they often do. you go back and

u.s. economy is in pretty good shape. it is plotting along steadily. it looks okay. the consumer side of the economy looks particularly good. in our conversations with company executives, we hear similar messages that the u.s. economy is in pretty good shape. some of the dislocations has found a way in asia that may be too early. everything else being equal, today's beige report is another step in the direction of higher rates in a few weeks. >> let's talk about the stocks. you mentioned that you don't think energy has hint bottom yet but one of your picks is objection dentalal petroleum. what makes it different than the others? >> it is neither a major integrative company. it has elements of both businesses so in the downturn will trade with the sector and be unfairly punished. it has a very conservative balance sheet. we're looking for companies that can play offense amidst the downturn. that can do smart things with conservative offsheets. it has a did i have denied rate of 4.3% so it is a name we like a lot. they can make money at these oil prices. i think the did

u.s. economy. it plays a supporting role, but consumer spending is the main driver bolstered by, you know, a decent outlook for investment spending. but i would continue to expect housing to improve and, remember, we're envisioning if things go as we anticipate a pretty gradual path of increases in short-term interest rates over time. to some extent, that's already embodied in longer term rates. on the other hand, as time passes and we move beyond the window in which short rates are zero, it will be natural for long rates to rise some. and, of course, we recognize that the housing market is sensitive to mortgage rates. it is an important factor to. but that's something that, of course, we're taking into account and thinking about what's the appropriate path of policy. >> nancy -- [inaudible] >> nancy washington with marketplace. you mentioned you've gotten a lot of unsolicited advice. the folks outside. but there is another side that says the fed should raise interest rates because keeping rates so

u.s. economy strong enough to extend whatever weakness comes from china. your take is that the u.s. y is strong. >> it is, and the chinese economy has stabilized. we have to get things into context. are we really upset that the chinese economy will grow 4% a year from your own -- here on. it will not grow at seven or 8%, that is stabilization. it is not as bad as people think. guy: there are some that are speculating the chinese are making sure that we have not seen devaluation because of this trip. they say after trip we might see devaluation. how important is this trip in the kind of choreography of how this process happens? we are trying to figure out what the fed does, what the chinese do, the politics comes into the next -- mix. >> those are two separate things , as far as evaluation, they will have to devalue some more. we think in the region of 7%. that is a reasonable devaluation. are the choreography with us? yes, this is a dance between the two markets. the south china sea which we have not mentioned as much, the chinese military, this is about politics. it, they say we hav

u.s. economy. u.s. stock market futures taking cue up sharply ahead of open. nicole: in a few hourss pope francis addresses united nations. we'll have a preview. lauren: president xi jinping will hold a news conference with president obama. cybersecurity is expected to top the agenda. nicole: volkswagen expected to announce a new ceo, nominating porsche's ceo mueller, to. first look at today's markets, latest breaking news and what to expect for the friday ahead. lauren: we'll certainly talk about janet yellen because the federal reserve is on track to raise interest rates to record lows by end of the year. fed chair janet yellen laying out federal reserve's plan at a university of am mers. >> most of my colleague and i are likely conditions to raise interest rates over quite gradual pace over next few years. it is important to emphasize, however, the timing of the first rate increase and any subsequent adjustment to our rate target will depend how developments in the economy influence the committee's outlook towards progress towards maximum employment and 2%

u.s. warrants a rate hike. the economy, the u.s. economy can stand it. >> a late stage rally sending chinese shares sharply higher posting the best single day gain this month and fuelling speculation that the government has once again intervened in the market. >> a shining performance. all three stocks jump on better than expected earnings despite weakness in china. >> up to 30,000 jobs are set to go at the enterprise business sending shares down in after hours. cnbc will speak exclusively to meg whitman later on today. >> let's check in on european markets and how they're performing after the rally we saw on wall street as we have the fomc entering the two damon tear policy meeting. let's check in with breaking news coming in from the employment figures. >> sterling hit days high of 1583 at the moment. u.k. unemployment data has come in. average earnings coming in at plus 2.9% which is where it was forecast to come in as well. let's just bring some out of these other numbers: the average weekly earnings plus 2.9%. adjusted jobless c

u.s. economy. from cond owes to companies, the chinese are helping to bump up equity prices. >> so far the data backs it. suggesting while the u.s. economy's state affected by china, it is not ultimately determined by it. for "nightly business report." >>> the widely followed hedge fund manager remains bearish on china. he said chinese economic growth would continue to decline by about 2 pierce year and he made it clear that he thinks the chinese economic model of investment is broken. >> investment is still almost 50% of the economy. and they're running out of room to borrow. that's the real problem. the banking system is loaned up. they've had to resort to shadow banking and now comment is leaving. that's the real news story. >> he is the founder with more than $3 billion in assets under management. >>> the chinese government invited to discuss the pro longed slide in the stock marked. he accepted the invitation to meet with officials in august. black rock is the world's largest asset manager. >>

u.s. economy.ve to take those into consideration. >> you are haling from san francisco where we've spoken about this before. all this innovation going on and technology euphoria. where is the growth in the country today? >> in the u.s. economy it's coming mostly from consumption and business spending. and housing still has a ways to go to get back to full strength. what's remarkable about the expansion is we're still growing 2 to 2.25%. and that's in the context of a global economy that's quite weak. these global headwinds are what's holding us back from growing much faster. if you look at domestic spending, business investment, that's on a good trajectory. >> really interesting story. john williams, nice to see you. thank you so much. he is the president of the san francisco federal reserve bank. >>> last week's standout debate performance. what her rising stock means for the 2016 play as we look ahead on "sunday morning futures" next. usaa makes me feel like i'm a car buying expert in no time at

u.s. economy is not as strong as i thought.llar cut 10,000 jobs but really a result of the emerging markets that is the heart of the problem. >> the commodity weakness is in large part of china. more broadly, emerging markets. then we have the collapse in energy prices impacting the domestic market, and they make a lot of money in the commodity-related equipment. is attorney general and that is the other high-margin business. matt: how much of this is overseas, and how much of it is at home? joe hendrix has said this is sales.fected the f-150 >> one of the problems it has gone into other markets like the construction market. the u.s. construction market has been the strongest market for caterpillar. there has been overflow into construction market. another negative. the one thing they can hang their hat on, and that is gone, too. new home sales rising. people are building houses. what is the problem? nonresidential members as well. there is a digestion impact where we now have the excess equipment that might have been going int

u.s. economy. what does this mean for the decision-making process? ht in our editor, michael mckee, and chief u.s. economist carl riccadonna. we keep saying september. and then we say december. michael: the real question is how do we know, how do we decide that it is even a live meeting and a possibility. they didn't even give us a decision framework. janet yellen repeated what she said about we want to see progress and the labor market because that will help bring up inflation, and yet they forecast that even though unemployment is going to go down, inflation is going to go down. pimm: we are going to talk about inflation in a second. i want your thoughts. policymakers have an inclination to get off the zero bound before the year-end. we know where we need to be on the labor front. we have to watch leading indicators of inflation, like the pace of overall economic activity. it is not what the next report tells us, but what the feds a horizon isth over a really. it is going to dip down through year-end. if the economy is going above trend, the inflati

u.s. economy, 2-thirds of the u.s. economy is basically consumer and the consumer, consumer confidence rose quite nicely last month. housing continues to do well. employment is reasonable. wage gains aren't fantastic and yellen is slightly worried about that so consumer discretionary, health care and technology are the areas we like in the u.s. at the moment. >> thank you for that. patrick spencer, managing director and vice chairman of equities. interesting comments coming from asset management. they are banning their fund managers from buying vw stocks and bonds. the decision was made in the wake of the diesel pollution scandal and that vw actions were, quote, completely unacceptable. they do say, though, that they may hold on to the 2 billion swedish krona worth of vw stocks and bonds it has on its books. quite an interesting line there. >> yeah. so after volkswagen's plummet this week some are calling this a short squeeze right now. so hence we have a 6.5% rally taking place in vw shares. let's get back to the u.s.

u.s. economy tries to emerge from the worst financial crisis since the great depression. the fresh stopped raising rates in 2006. there are worries that low rates poses a risk. think the housing bubble. >> when you have rates so low, liquidity, it causes investors to take undue wrists. that can mean bubbles that have to be deflated and clanses of defaults, suggesting they are risks that most people don't take into account. another factor is the risk of inflation. it's below the 2% tart set by the fresh. the other big indicator is the jobless rate. in august, it stood at 5.1%, compared to 10%. job seekers say that number leaves out a big part of the story. i decided to pursue a plan become. the founder worked with similar groups across the country. the unemployment rate doesn't gate the people who are looking for work or sustain on jobs to make ends meet. >> from the ground floor. it's not better, it's not where it needs to be or in a position where we declare victory and raise interest rates. i believe raising interest rates will be good for the economy. one argues the fo

u.s. economy.ark: the days of cord cutting are changing the landscape for sports providers like disney and espn. our support contract even worth it anymore? olivia: and the ceo of north i'm orozyme will be with us. u.s. investors are anxiously waiting august jobs reports. it is out tomorrow. the stakes could not be higher. olivia: it is the final report before the fed september policy meeting when officials will way willigh a fed hate -- weigh a fed rate hike. karl joins us now. let's start with the jobs number tomorrow. is there a number that confirms the fed will move in september, or knocks it off the table? karl: the fed would like to dispel the notion that they are dependent on that one number. i think it will be difficult if we get a strong reading of over 100,000. for the fed to ignore the fact that whatever is happening overseas, there is an immense amount of momentum here, as evidenced in the anecdotes from the. -- the beige book. it will be difficult to dismiss. speaking earlier when we b

u.s. economy. he says it's simply a reaction to the slowdown in china and that the u.s. economy is doing well and that it is insulated from the troubles in the chinese economy and as a result of that he feels as though the market volatility will kind of smooth out as the market adjusts to the fact that china is simply slowing down. they may come in at a growth rate of 6% to 7% which is still pretty darn good. >>> mexican game developers are hitt g back at donald trump after the candidate's comments on illegal immigrants. they've come up with a new video game that allows users to throw soccer balls, cactus leaves and tequila bottles at mr. trump. it's called trumpilo and it is selling like hot cakes. [ laughter ] >> no word on whether you can get it here in the u.s., but the game developers that made that game up are now millionaires. >> well, there you go. >> okay. >> look at that. we do have the 2:00 press conference from mr. trump later on. maybe we'll get a chance to ask him about it. >> there's capitalism for you. >> all right, sue. >> entrepreneurship. >> thank you.

u.s. economy is ready for a slow normalization of monetary policy. the u.s. is in relatively good shape. monetary policy should be normalized gradually. why would it be the wrong time? not because of what is happening in the u.s., but because what is happening in the global economy. there is a risk if you hike now, you end up doing what china did with its currency change a few weeks ago. you end up fueling global instability and then you have to worry about the snow back onto the economy -- still back -- still back onto the economy. i suspect they will not hike this month. betty: when is a likely right time? >> you need one of two things for the right time. i think you need an alignment of domestic and global conditions. we had that early in the year. that is why you heard me encourage them to hike early in the year. or alternatively, you need the fed to succeed in getting us to stop obsessing with the timing of the first hike, which does not matter that much in the long term, and to focus more on the journey. the journey is going to be the loosest tightening

u.s. economy is performing well. still the federal reserve with two meetings left to raise rates before the end of the year. >> in the end, inflation and global pressures causing them to hold. >>> and thousands of migrants and refugees strand. more countries shutting borders as the crisis unfolds. we are live next. diabetes, steady is exciting. only glucerna has carbsteady, clinically proven to help minimize blood sugar spikes. so you stay steady ahead. where their electricity comes from. they flip the switch-- and the light comes on. it's our job to make sure that it does. using natural gas this power plant can produce enough energy for about 600,000 homes. generating electricity that's cleaner and reliable, with fewer emissions-- it matters. ♪ every insurance policy has a number. but not every insurance company understands the life behind it. for those who've served and the families who've supported them, we offer our best service in return. ♪ usaa. we know what it means to serve. get an insurance quote and see why

u.s. economy. good morning. welcome to the bloomberg market day. i want to get paycheck of where equity markets are. the decision will be coming down at 2:00 on thursday. stocks have not seen a lot of action. i also want to show you what's happening in the bond market right now. treasuries have little change. -- yield and the 10 year look where we started the year. we are seeing more movement in terms of commodities markets. we have seen weakness again in a copper. it is down 1.6%. the head weaker than expected industrial data coming out of china. all industrial metals are following today. equities in china are down 2.7%. i want to get straight to an exclusive interview with one of the world's auto leaders. .he chairman of volkswagen sales have increased for 23 state months -- straight months. nichols: good morning. good afternoon here in frankfurt. we are gathered for this auto show. we are surrounded by these pitiful cars. they are the number one manufacturer in the world. they have a great outlo

u.s. economy in the next few months. what you think? >> it's basically stuck. on average to 2.5% growth and we are likely to be over the next two years as well. we are stuck in this environment and lucky we have a backdrop of tradable goods and commodities in a large service industry and grow around. nicole: thank you for joining us. unbelievable how bad is that of china means that there is. lauren: pope frances making an historic visit mini usb -- in the u.s. the pope arrives in washington d.c. yesterday and will visit the white house. it speaks of 15,000 guests on the south lawn. president obama expected to talk about climate change with his meeting with the pope and later today the holy father will hold the first-ever canonization mass on u.s. soil. he is scheduled to speak to congress tomorrow before heading to new york and philadelphia. it's going to be right in my neighborhood. chinese president xi jinping pledging to work with washington, making a promise or in a speech in seattle on the opening day of his first state visit to the united states comes as

big economy, the euro zone big economy, the u.s. big economy, these three currencies are in a little round kmart pool and they keep bumping against the wall. it doesn't tell you as much as you think. other than now mr. draghi gave europe advantage, like in tennis. advantage euro, weak euro. it is a trade issue. two day on the bunds. they have reversed. maybe they have direction again. the switch is on. look at a two-day 10 and the two-day 30. they didn't really break yesterday's range. this goes to the ongoing story that the u.s. fixed income market is doing something a little different. you need to pay attention. normally, it is flattening when you are expecting the fed. i bet against the fed for all of 2015. in mid 14, i hope i lose. i tell you what, i think i may lose. i central bankers in this country are a bit nervous around dead man's curve in the next 10 to 12 months and what that type of global economy will look like. you will see that in the recent steepening. carl and the gang, back to you. >> two weeks from today, a big ru