u.s. economy undere mast extending some volatility from quarter to quarter, the u.s. onomy has proven remarkably resilient. concerns, andet broader concerns about global financial development, i highlighted particularly the pace of global growth, and the prospects for oil prices. these developments and concerns about the developments -- those developments both last summer and more recently at the turn of risen.r -- have they are significant, in terms of the u.s. outlook, both abroad, slower growth in spite of the fact that trade is still relatively small share ,f u.s. domestic economy exposed to direct affect from slower growth to broad. as importantly, the financial market and questions of slower growth, which tends to mean a slower dollar, and so forth. higher risk spreads to have implications for the u.s. outlook. in january, we had been through a month or so of heightened volatility and concern about developments. in our january statement, the committee highlighted developments. the u.s. economy was continuing to perform well, and we declined to characterize the li

u.s. economy now, we see the sharp divergence between the domestic side of the u.s. economy, the service sector, the labor market, which looks like they're fairly good and getting better. then the export side of the u.s. economy and energy and manufacturing that are really struggling to get the strength of the u.s. dollar. >> what about those two sectors, because some people look at the whip saw we're seeing in oil and the down draft we're seeing in other areas as recessionary. or deflationary. do either of those two terms fit with your scenario for the economy? >> i don't think those apply to the u.s. economy. in the u.s. we're looking to real gdp growth of 2% in 2016 or maybe a little better. the unemployment rate will probably continue to move, edge lower over the course of the year, maybe reach 4.7% by the end of the year. that's pretty good by u.s. standards. for low oil prices obviously it's negative for oil producers, but it's like a tax cut for american consumers. and it should boost consumer spending power. and that will mean more spending on other goods and

u.s. economy. but doing it in an incremental way, by doing it in a targeted way, we have kept a unity between the united states and europe that i don't think russia expected. in the case of the iran sanctions, doing the oil sanctions incrementally, putting them in place so that china and india could adjust over a period of time, kept them with us. it's easy to stand up and say, use all your ammunition right at the start. but you wouldn't do that in war and you shouldn't do it with sanctions. charlie: just tighten the pressure. jack: you tighten the pressure and show you'll ratchet it down if there's a change of behavior. charlie: do we assume sanctions were part what have led to the great change in south africa? jack: i think economic pressure did lead to the change in south africa. and it took a very long time to put an international consensus together. i think that things like the jackson amendment helped to change russia's policy on its human rights policies, particularly with regard to soviet je

u.s. domestic economy. we are exposed to the direct effects, slower export growth from slower growth abroad, and as importantly the financial market repercussions of slower growth which tends to mean a stronger dollar, lower equity prices and so forth, higher risk spreads do have implications for the u.s. outlook. in january we had been through a month or so of heightened volatility and concern about these developments. in our january statement the committee highlighted these developments. the u.s. economy was continuing to perform well and we declined to characterize the likely impact we thought that they would have. we said we were assessing their implications for the economy and the balance of risks. in our most recent statement in march, we indicated that global economic and financial developments posted risks, and i've tried to explain today the risks that those developments pose. now, we did not say that on net we thought the balance of risks was to the downside. i would point that out. there are risk

u.s. economy. dustrial production was reported today in recession at negative 1% year-over-year if you want to talk about real economy which is in recession on manufacturing and industrial front. liz: saying short valeant pharmaceuticals down 51% to date. frank, you look what is happening with yellow metal. what about the other metals, palladium, platinum. >> i mentioned on your program before, franco, nevada. it royalty company done spectacularly well. more than doubled since 2011. they have high gross margins like it is microsoft. pays dividends and management owns a big piece of the company. i think they're safe bets. liz: safe bets. ward to you, you got to tell me, when's the next rate hike? >> june. i think is what the fed will probably move next. i think they will follow same pattern they did last year. when a lot of people thought they raise rates in september they chose not to. sent us a signal in october that december was very much on the table and then they acted. think the same thing happ

u.s. economy. focusing on the global situation because i think that having a stronger global economy right now is where that confidence needs to come from. >> rose: what do you see happening to inflation overlpÑ s year and the next. >> inflation has depending on which measure you look at, been getting closer to the kind of 2% target that people have been looking at. it is not showing any signs of exploding. i think it's a good thing personally. if there were more pressure on wages right now because one of the problems we have in our country is the disparity of incomes and the way to solve that is for there to be some increase in wages at the middle and lower levels. >> rose: you mean raise the minimum wage. >> raising the minimum wage is something we should do as a government. >> rose: what's your number for raising the minimum wage. >> well we've been supportive of the proposals that are in 13. >> rose: jf but not 15 as some cities have imposed. >> we are supportive of efforts to increase the mini

u.s. economy will put up any federal reserve interest rate hike. went back on the top features come at dow futures at the 87, s&p up 10. lauren: in asia a wild ride in china fell nearly 4% before ending with a gain of 1.7%. japan's docs edging slightly higher as well. nicole: checkout oil prices continue to rise today of 21 cents. right now it are a 3.96. lauren: the justice department releases the final batch of e-mails. loretto lynch tells fox news there is no deadline for the clinton e-mail investigation to end. nicole: the fbi and apple head to capitol hill to fight about unlocking an iphone used by terrorists after apple wins the key quarter. lauren: the top of capital rankings. tom brady agrees to a new two-year contract. nicole: it is 5:01. welcome to "fbn:am," your first look at today's markets, the latest breaking news and what to expect that they had. lauren: intercontinental exchange committee on the new york stock exchange is considering an offer for the group that is then approached the company for it. the news a week after it is in ad

u.s. economy is doing in his words quite well. in an exclusive interview with cnbc asia, williams suggested that it's preventing the u.s. from returning to normalized interest rates. >> we understand we're in a global community. what happens in brazil or china, what happens in asia or south america has a huge impact on the u.s. economy including employment and inflation goals. so, we have to take that all into account and how it impacts the u.s. economy. we also need to be cognizant of the fact when the fed acts it affects the global economy. understand those feedback loops and all of the ramifications. >> we'll see what he says about how resilient the u.s. is in the face of economic developments overseas. >> yeah, i think if we look at three main takeaways from last week for me. one pretty simple, the volumes are pretty low. two there was resilience, yes, we snapped back in a five-week winning streak. we only declined by a percent or so. >> less for the emergencies. >> third, the major take-away is the fed confusion at the moment.

u.s. economy is american voters number one concern right now. there's a lot of negative sentiment about the economy. yet unemployment is low, job gains have been pretty good for the past year, and consumer confidence has picked up. why do you think there is such a disparity between rockers between the economy and its progress, and how voters feel? my second question is how does any negative sentiment about the economy factor into your economic outlook and the decisions you make on monetary policy? >> let me start with your second question if i might. in trying to judge the outlook for the economy, we do look at measures pertaining to consumer sentiment, and they are in solitary toward. household balance sheets are much improved. gains in inflation adjusted disposable income are run at a healthy pace. as i mentioned, households have benefited pretty significant way from lower oil prices, and measures of consumer sentiment the reflective that. so they're not at low levels. and really the labor market i think has improved a great deal, and every dem

u.s. economy this year. even though there has been a pause here after mid february or so, we think the market in the u.s. has a good ways to go. we have some bumps. the bar taking a bit of a pause here. -- people are taking a bit of a pause here. times earnings for the s&p 500. thennot reconcile that with amount of pessimism i hear from people sitting around his desk. isn't overvalued? -- is it overvalued? robert: we think the u.s. economy is more strong and robust than people give it credit for. we think we will see a benefit pick in the second half of this year. the fed will be moderate and what they do, maybe a rate hike in june, maybe one later in the year. we could go back above the s&p highs we've reached before. we don't think it is overvalued. jon: a lot of people will come on and say we go into cash. can you afford that? robert: it is tough at the moment. we see this as a buying opportunity. if you think you are going to have a bump or some debt, we use that as a buying opportunity to buy stocks that

u.s. economy 85% of the households in the u.s. a primarily domestically generated service sector. that is where most of our jobs come from. even though there is a lot of turmoil and problems with overseas economies, that insulates us to a significant degree, whether it be problems .n europe or asia or wherever the u.s. is still able to be more resilient because of its dependence on this domestically oriented service sector. if you think the u.s. is insulated, that means janet yellen is ready to hike again? ward: i think in april the fed will take a page out of the october playbook, and i think the fed will raise the funds rate again in june, then probably take time off, let the markets digest things. they also want to take -- to stay under the political radar, given the unique nature of this election cycle. they will get another one in before the end of the year, probably in december. because inflation is going to accelerate as the year goes on, and the fed cannot have inflation above 50% and a fed funds rate near zero. a conversat

u.s. economy but certainly the opportunity with a new administration in the in the fiscal space for the u.seconomy. require headline changes in interest rates. francine: what is the argument for the dollar? is at the end of the rally? -- is it the end of the rally? simon: it is starting to call into question rather -- whether the dollar can continue its pace. question mark now is what is the stainless that is going to drive the u.s. dollar higher? we are going to look at janet yellen's speech today. further signals when all of the noise is put to one side, the u.s. economy remains the single and most powerful economy in the world. francine: this as huge invocations for the emerging markets. when we have a dovish janet yellen that has applications for a currency in the emerging markets. does it change the name of the game? two hikes andet there is a more aggressive path, then the pressure on u.s. denominated debt, just accentuates. that is the big fear. it represents the biggest single fear till global desk to the -- to economy is whether the global economy is whether -- because the fed move

u.s. economy versus the global economy. others would argue, however, that it is one economy, globally. >> well, i think that the fed gets its get out of jail card here by basically saying, look, if the u.s. market goes into turmoil, if we raise rates, if the dollar strengthens that will cascade into the emerging markets and to other countries which then will create more. stress in the united states. so at the end of the day, we really are thinking about the u.s. economy. >> there are critics who said that the fed should have raised in september and they cited the global situation, global turmoil at that time. then, again, here in march. how many times do you -- do you think they're going to start playing catchup or did they basically telegraph that they're going to go at a very slow pace, maybe two hikes this year, june and december? >> i think they're going to go very scllow. i don't think they're going to play catchup. the expectation, they will do four rate increases in 2017 will not be met. they will go slower than that

u.s. economy is doing pretty ok. tight financial conditions we saw in february, strongill a relatively dollar. u.s. data haven't collapsed; we are still seeing strong consumer confidence, which should drive the economy forward. we're also a long way from recession. guy: i don't ask you a direct political question, but in brazil and south africa and turkey and china, how much of the political -- how are the politics influencing the data? >> you see this in sentiment. i was just saying about brexit -- anything that can make people concerned, put off investment, volatility is no different. that's not going to be a good thing for growth. you are seeing the sentiment data, it was at the very bottom of the market. march pmi is interesting. it will give us a good indication of where are we in terms of the data. that is what we will be watching to tell us what's going on. guy: james pomeroy. up next, investors should be concerned about donald trump. we will discuss one fund manager's concern about pricing in trump. 's next. -

u.s. economy will continue to grow, i think exposure to economic growth is the place to be, and the u.s. economy in particular because it's performing better than most other economies. within the u.s. domestic exposure, we'd be looking at things, for example, consumer discretionary spending, including post-housing spending. once you buy the house, what do you spend the money on in terms of nesting and preparing that house to live in, also some collected retailers, and we also see that many families are increasing the money they are spending on things like travel and entertainment. i'd also point out that energy stocks have been very hard hit and with our expectation that nor prices, that is the crude prices will be moving higher during the course of 2016, that might be another place to be looking. >> you know, abby, last question here, some of the bears, anybody who has watched financial news they know you and you have a reputation on the street as being permeable. has there been a period of time when you've not been endorsing investing in u.s. stocks? >> absolutely. i think one of the in

u.s. economy off of that slow and steady pace. so when i look at u.s. equities, i see a background of slow and steady growth which will cap upside and downside as well from the shocks. david: talking about uncertainty, the fed seemingly becoming more dovish, is that the greatest uncertainty as you see it? what is weighing on you the most? ben: the fed is part of it. i don't see it being as a persistent source of uncertainty. last week's meeting, they trimmed a lot of the fat in moving toward market expectations of a very gradual path of rate increases. those remaining two hikes in the summary of economic projections are real. so i think starting in june and starting in the months leading up to june i think you'll see the communication tilting much more towards setting up markets for that ventality. that uncertainty at least as it applies to the fed might be a little bit less than it was when the difference between markets and the fed was much larger prior to march, the march meeting. david: talking with the former fed governor yesterday, we were talking

u.s. economy is doing decently. at .6%, economy can't grow very don't grow more than .6% nominally over the past year. mike: i'm looking at the yield curve. it has gone down. it has find a little bit. the real movement is in the belly of the curve. but you do have some in the longer end. is janet yellen writes that we are not going to get any --lation anytime soon bill: anytime soon? bill: my think we are getting inflation. well that scare the fed into moving quicker than they would have moved before? hopefully not. inflation orlow 2% 1.5% inflation for the past six years. think debt is at a reit -- a decent value. 1.5% to the extent that their target is 2% dan the extent that you think they may be able to reach the target, then that's at a good value. tom: i want to go in more philosophical after what we've seen today and they years you've had managing the bond market. i've never seen a diversions like u.s. and german yields. we show this a lot on "surveillance." the big curve down in the german gross, bill internat

u.s. economy in his words is doing quite well. he points to stabilization. strong employment growth. lliams suggesting that global development actually preventing the u.s. from returning to normalized interest rates. have a listen. >> we understand that we're in the global economy. global financial system, so what happens in brazil or china, what happens in southeast asia or south america has major impact on the u.s. economy in terms of employment and inflation goals. we have to take all of that into account. we have to understand how it impacts the u.s. economy. we have to be cognizant of the fact when the fed acts, it affects the global economy. understand those feedback loops and all the ramifications. >> and that was john williams talking about the fed's increasing focus on international development. something we saw in the fed statement during the fed meeting two weeks ago. something we did thought hear with the fed regional presidents coming out, some of them talking about april being a possibility sooner rather than later which spent the dollar stronger. i would just say pay at

u.s. economy is already getting relief for the weaker dollar. guy: the u.s. y is getting relief, that is what we want right now. at least the engine is firing. another cluen lies as to why the fed could have fought for a delayed interest cycle. we are waiting for evidence of how the negative interest rates will help the rest of the world. we want eventual economic recovery. if the world was growing more robustly, the extra capacity would begin to get used up and then, we might get some inflationary pressures gripping. i think unemployment levels and europe are so high that it will be sometime before the wages pick up significantly. the competition is so intense in asia that it is difficult to see how wages can rise a significantly for now. i think this is beginning to happen in the u.s., where we 5%. now seen a rate under get realnk we could tightness creeping into the market in the u.s. in the meantime, we just wait and watch the numbers as they come out. we have already seen the wages rising around a 3% rate so, i think telltale signs that things are not as

u.s. economy is showing remarkable robustness and sitting where i sit, the u.s. looks ok. i am visiting clients around the world. in china, plans are not concerned about the outlook those economies. clients in the middle east are concerned about the oil price, but not overly concerned about the wider global economy. in europe, clients are not concerned about how europe economies are affecting -- are actually very bullish about the outlook and even in the depths of the financial markets imaging array january, they were not changing business plans for this year. david: it is one thing to not be worried about recessions, another to expect true growth in the underlying economy. are they seeing growth in the top line? of governors tell us this is the year they are looking to filing reinvestment business -- finally reinvesting in business, after two years of stagnant growth in europe and last year, some recovery, this is the year the ink things are turning up. 70% of them were expecting an improvement in business conditions this year, an organic growth. looking to acqu

u.s. economy is fairly resilient. we have significant headwinds demographically and parts of the labor market, but anyone was asleep for the past six years and woke up today with unemployment at five, you would think that the fed fund rate would be well below one. i think we have to keep that in mind. i understand the cautiousness of the federal reserve, but if they were to resolve in the u.s. economy we would have a different trajectory. stay with us. we will continue this discussion in a moment. as we go to break, here's a look at the 10 year into year today. dropping on the dovish fed. ♪ this is "bloomberg markets." i'm betty liu, here with lisa abramowicz. we are here with joe davis, a vanguard. he was there in the room with janet yellen. let's actually play for you the part of her speech where she talked about china. i know that as you mentioned, you have strong views on emerging markets. here is what she said about china. >> there is a consensus that the chinese economy will slow in the coming years as it transi

u.s. economies. she has made it clear that raising interest rates too soon could put the brakes on goal growth. chair yellen: i think it is appropriate to proceed cautiously with interest rate policy. reporter: janet yellen troll comments boosted markets worldwide. be loose monetary policy is set to continue for now. the reasons have little to do with the u.s. economy. china has been knocked off balance. oil exporters are slashing investments. oil reconstruction and less of the black gold changing hands of the world market. americans could suffer. the fed will proceed carefully when it comes to raising interest rates. in 2006, the central bank began cutting the base rate to shore up the economy. the fed decided to change direction in december. the bank raise the key rate to the current level of .5%. many economists are betting that the fed will not opt for another rate hike at its policy meeting in april. >> let's talk about this quarter on wall street. so, caution is the word that was used. how does

u.s. economy. ugh there may be a pause after what has been a nice lift in the quarter, we think the u.s. market has a good amount of room to go. irope has a lot to go but think people are just taking a positive here. that has an impact on commodity prices as well. 17 times forward earnings is what the s&p 500 is trading at. i can't reconcile that with the out of pessimism. is the market overvalued? we don't think so. we think it is appropriate that there's a bit of a pause. we think the u.s. economy is more strong and robust than it has been given credit for. we think we will see a bit of a pickup and we think the fed will be pretty moderate in what they do. we won't see a dramatic increase in rates overall and we think we could go back above the s&p highs we reached before. we don't think it is overvalued. will come oneople and say we can afford to be in cash. guest: it is tough to afford to be in cash at the moment. side.ays have cash on the if you think you are going to have a bump or some dips,

u.s. economy. the only two sectors i would point out would be transports in the u.s., which had been beaten down so much and are now outperforming in the russell 2000. small cap stocks. both are economically sensitive. both have made an outsized move higher in the last few sessions, signaling this could really be about outperformance of the u.s. economy. >> it could indeed. it's going to be a big week for central banks next week. so gold again will remain in focus because of that. >> absolutely. it is jobs day. wall street will be paying close taeng to the february employment numbers. there's so much good nuggets in these reports. landon dowdy joins us with more on what we should be looking for. >> happy friday. my favorite friday of the month. three things to watch. first, the numbers. the expectation is that 200,000 jobs were added last month. an increase below 150,000 would raise concerns that market turmoil is impacting jobs. unemployment is forecast to hold at 4.9%. second, the sectors. job gro

u.s. economy or the global economy. charlie: what is the impact? secretary lew: partially economic in terms of trade and economic relations and partially geostrategic in terms of holding onto unity and in a world where one of the things that drives the economy is the uncertainty of geopolitical risk, it was interesting at the g-20 minting the risk of the brexit is something that people were talking about -- charlie: talking about it in china when i was there over the weekend. secretary lew: is that something you can measure with the economic index? no. but the unease and economic consequence? yes. i see all caps customs about what it means for the british economy and european economy. -- all kinds of estimates about what it means for the british economy and european economy. charlie: and youth unemployment. secretary lew: huge youth unemployment. anything in the wrong direction would be destabilizing. catch the entire interview tonight on bloomberg television at 7:00 p.m. eastern time in the u.s. here on bloomberg television. tracy: the british ref

u.s. economy. it is good that allows us to grow by 2.5%, not where we should be. continue going ahead facing headwinds. one comes from volatility and the other comes from the weakening the emerging economies. was mohamed el-erian speaking earlier on bloomberg tv. you can catch mohamed el-erian on the upcoming podcast. a good time. that is out on monday. $5id: legal marijuana is a billion industry with an estimated 20 million consumers. anve is the ceo of electronic cannabis trading platform. he joins us now. these are early days in this trading platform. what are the hurdles to the expansion of it? steve: it is a federally illegal product. because we have to operate on a state-by-state basis, we look to state infrastructure to grow this business. we have built an ecosystem that allows industry participants and regulatory agencies the ability ,o truly track this product taking cash out of the system using some of the ace pay products that we've built. it is an early-stage industry. if you look at the growth, it is growing in such a unique way. you need infrastructur

u.s. economy. i share the overall assessment of the economic report of the president that under the leadership of the president obama the nation's economy is back on track after what was the worst recession during, since the great depression. we have just completed the best two years of private sector job growth since the 1990s. we have recorded the fastest two-year drop in the annual average unemployment rate in 30 years but the unemployment rate has been cut in half. as you can see in this chart, we are in the midst of the longest streak of private sector job creation in history with a record 71 straight months of growth and the creation of 14 million private sector jobs. there are some who look lightly at these achievements, claiming that the obama recovery pales in comparison to average, quote average recoveries, as if the economic meltdown during the last years of the bush administration was quote an average recession. it's the loss of almost 9 million american jobs average? is the loss of home

u.s. economy. if you take a look at what stocks are doing today, as people await janet yellen speaking, let's take a look and we are seeing a pullback but not much. the nasdaq is lower as we go into the meeting. i want to take a look at other meetings to see what they are anticipating janet yellen saying. remember in the most recent statement that janet yellen set a dovish tone that since then, we have heard from other fed officials, who appear to be more hawkish. who say even april is on the table. we are seeing a dovish slant to how things are going. if you take a look at the currency market, we have the dollar a little lower, and the euro is lower versus the british pound. and we have seen forecasts come down for how the dollar will trade. take a look -- this is the chart i use for battle of the charts. what we have seen is the forecast of the euro coming up, now at $1.09. ng higher here and interestingly enough, we could see rates go up in the u.s., it would be going in the opposite direction.

u.s. economy, the u.s. consumer. headline numbers are way down heavily by the fact that gas prices have fallen so much, and so using less nominal spending, people are saving that money, so it's not a silly all going and other goods, so the total numbers come down, but even if you look at that so-called control group, the core retail sales, that excludes gasoline and all of the categories that are benefiting from that drop in gasoline prices, so you really are seeing a much different picture if you focus on the parts of the economy that are doing well. it is a bit of cherry picking, so on the other hand looking at the core retail sales, it is you are focusing on the war sectors. -- focusing on the worst sectors. alix: you like to look at restaurants and bars. if you're feeling better about the economy and pocketbook, you can go out and buy a beer and lobster. you will not stay home. right? >> absolutely. some secular considerations, a shift away from people spending a grocery stores more in favor if eating out, and th

u.s. economy? leasing trump expressed severe trade policies, sanders on a similar level. that mean for u.s. growth? >> a very good question. can the u.s. economy disconnect itself from the leadership. on one hand i'm saying that the u.s. presidents are not that powerful. we have a fairly weak executive in the night's still have congress. i think candidates like donald trump who have this amount, policies that are not really republican policies remind me of some of the leaders in europe, a combination of state intervention and populism. we haven't really experienced this in the oval office in recent memory. last 25member that the years have been characterized by this convergence of pro-globalization trends. in terms of the s&p and market, president obama has not been especially popular, and the rally in the s&p was not in any way correlated to that, so a lot of these correlations are breaking down somewhat. all of the titian's are unpopular, or at least they are about two months after they come into office. politicians are unpopular, or at least they are about two months af

u.s. economy has been very similar to other economies. i don't think they are a very important factor in explaining. >> thank you, my time has expired. >> thank you mr. chairman, the report notes that while investments below the rate of payout to shareholders but not financial firms, the corporations are now returning half of the funds that could be used for investment to stockholders, one possible explanation provided by the report was the rise of payouts to shareholders may be related to the decline in the startup rate as young firms are likely to reinvest the cash flow then mature firms. the lower investment growth of shareholders suggest they had more shares than they could properly reinvest. the rise and share buybacks predates current economic circumstances. senator baldwin has pointed to the 1982 fec rule that provided a safe harbor. prior to 1982 buybacks were very limited use of corporate profits. ibach says we know can make earnings report look better and foster short-term thinking in the corporate governance. can you comment on

u.s. economy.d west and thomas donny those are shortsighted. >> if they look at the polls, a figure out a plays well, they listen to elizabeth warren who all of a sudden she is the pope in terms of what is except the ball in this religion. and we're making a fundamental mistake. increased terrorists mean higher prices for shoppers. prosecutors in belgium say the fingerprints of the paris bomber have been found in an apartment rated by french authorities. one gunman was killed and three others were captured. he was involved in an attack last year that killed 130 people. serious ending five-year civil war are ending in geneva. washington should use its influence. in astra -- a nasa astronaut and two cosmonauts are headed to the international space station. they will spend about six months living and working aboard the $100 billion research laboratory which flies about 250 miles above earth. global news 24 hours a day powered by our 2400 journalists in over 150 news bureaus around the world. caroline:

u.s. economy on an upswing? "worldwide exchange" will be right back. we'll have answers to that question and much more. your path to retirement may not always be clear. but at t. rowe price, we can help guide your retirement savings. so wherever your retirement journey takes you, we can help you reach your goals. call us or your advisor t. rowe price. invest with confidence. you gein your car. odors you think it smells fine, but your passengers smell this. {ding} eliminate odors you've gone nose blind too, for up to 30 days with the febreze car vent clip. wow, it smells good in here. so you and your passengers can breathe happy. earth hour is about empowering people making a difference to change climate change with passion and excitement earth hour is about inspiring climate action celebrating a global movement and impact ♪ join us at earthhour.org 19th march at 8:30pm ♪ >>> welcome back to "worldwide exchange." a very good morning to you. march the 1st, big gains. march 2nd, small gains. march 3rd, we're looking at even smaller but still gains. we're

u.s. economy is dominated by two things. iven economy and over 85% of those consumers make their living in a primarily domestic based services sector. so the consumer sector is doing well, the services sector is doing well. the part struggling is in goods production, mining and manufacturing, that's the one small piece of the u.s. economy that suffering from the same malaise that a lot of overseas economies do. the other thing we have going for us, construction is going well. overall u.s. economy is in pretty good shape. where it's not in good shape, it's in dire straits. that's the biggest problem we have. >> is that's what is behind this recent rally? we are looking at our third week of gains for the s&p 500, flat right now, but importantly holding. have we seen the bottom? is it that realization about the economy? >> the s&p did a retest of 1812, the lows for the range. that was a successful retest. when we broke out to the upside. my sense is that a very large trading range of let's say 1800 to 2100 is pretty firmly estab

u.s. dollar thanks to that falling dollar. concerns about the global economy and u.s. recession, that's kind of also gone to the back burner. we'll see if we can keep checking these boxes as we look at the stock market. there's the chinese currency. high point of 2016. that helped asian markets overnight, except for that japanese yen starting to strengthen. really took its toll on japanese exporters with the nikkei falling overnight. japanese government bonds, a story in themselves. rallying with the ten-year and 20-year yields hitting record lows. today mark theed the first time since 1980 that the ten-year fell below the bank of japan policy rate. >> fascinating if we look at the rest of asia as well. china's home prices rose at the fastest pace in two years. that's also fueling bubble concerns. the yuan firming against the dollar, as we've already said, hitting a 2016 high. let's also have a look at the broader market performance. the nikkei the exception. that's because of the yen, of course, whereas the weaker dollar has helped the rest of the markets around the w

u.s. economy. with the dissent from kansas city fed president ester george, who preferred to hike 25 basis points. on the labor market, the fed said a range of recent indicators including strong job gains point to additional strengthening of the labor market on economic growth. they said it is expanding at a moderate pace key ddespite the developments. inflation, says it picked up in recent months, however still below the committee's 2% longer run objective. the housing sector it says improved further. net exports and business fixed investment were soft. i don't know if you have the chart of the -- now with the new fed forecast for the funds rate, but let me give it to you. it is down 50 basis points for 2016 to 0.88. down 50 basis points for 2017 to 1.88. it is down almost 40 basis points for 2018 to 3%. and the longer run now 3.25, down 25 basis points. much closer to where the actual market is right now. modest downgrade for growth in 2016 and 17 and reduced headline inflation for this year by a

u.s. economy. i share the overall assessment of these economic report of the president that under the leadership of president obama the nation's economy is back on track after what was the worst recession during -- since the great depression. we have just completed the best two years of private sector job growth since the 1990s. we have recorded the fastest two-year drop in the annual average unemployment rate in 30 years. the unemployment rate has been cut in half. as you can see in this chart, during the midst of the longest streak of private sector job creation in history with a record 70 straight months of growth and the creation of 14 million private sector jobs. there are some who look likely at these achievements claiming that the obama recovery pales in comparison to average -- quote, average, recoveries, as if the economic meltdown during the last years of the bush administration was "an average" recession. it is a loss of almost 9 million american jobs average? is the loss of homes for 9 m

u.s. economy. >> developments abroad implied that meeting our objectives will likely require a somewhat lower path to the federal funds rate than was anticipated in december. given the risk to the out look i consider it appropriate to the committee to proceed cautiously in adjusting policy. >> fed observer said the fed chair is clearly in no hurry to undertake the next rate hike. dana said curiously for a central bank, yellen's speech focused on downside risk than those to the upside. remember that several med members have pointed to the possibility of an april or a june rate hike if the economy continued to improve. granted it has deaccelerated cently but yellen offered little possibility of rate hike next month or made it unclear when the next rate hike would come. she also questioned the one obvious reason for hiking, rising core inflation. yellen's kmebt said the decline in interest rates offset recent weakness from abroad is another way of saying she's fine where bond yields are priced rite now. that's an admission that yellen agrees with the market priced in which is to say not many rat

u.s. economy., fed officials expect to raise rates at a slower rate than they had originally envisioned. the fed holds its next policy meeting in april. >>> news that the fed is leaving interest rates where they are sent stocks higher. the dow gained 74 points. the s&p 500 rose 11 points and the nasdaq finished the day 35 points higher. >>> automatic braking technology could be standard equipment on most new cars by 2022. the government and major carmakers are expected to make that officials in an announcement today. the safety system will be phased into most models but safety advocates say the agreement means the government won't strictly regulate this technology. >>> an increase in e-commerce business was for a for fedex. they handle most of its e-commerce business jumped 30% but higher costs due to expansion cost income opera expenses to slip. >>> the future is here. nike introduced the hyperadapt 1.0. actually, the sneaker doesn't have laces at all. when you step in your heels, it hits a sensor

u.s. economy it is relatively robust. it's interesting when we saw the fed, we heard janet yellen speak, there were two very different opposing forces. they were cautious towards the global slowdown. and factoring in the strength of the dollar. on the other hand, when you look at the changes in the unemployed and great -- the unemployment rate, overall, the picture for the u.s. economy is robust when you look at household consumption and the labor market. on the other hand when you're looking at japan, the market expecting further easing. again, when you look at structural changes such as global growth, when you look at demographics, the two economies are really starting to divert. guy: how do you trade that? youmuch more stimulantus are expecting from the yen? the bjoj is very nervous. marilyn: we do think we will see more stimulus. particularly it is interesting when you compare with the ecb. compare that draghi mention they do not want to talk about -- iering, because there might be the expectation they reduce rates ev

u.s. economy including tomorrow passes job reports.ng after the company says it overstated growth in active new members. exclusive interview with bridgewater's ray. we are just under 30 minutes now from the opening bell in new york city. i'm david westin here with my collie jonathan ferro. we want to go right to austin, texas. with thetzker is there bridgewater chairman and co-chief investment officer. erik: good morning and on behalf of bloomberg television viewers, worldwide, welcome. people who know you and follow you know you developed models to explain how the economy works. anyone even remotely familiar with bridgewater knows about the importance of the business cycle and furthermore the importance of the long-term business cycle to what are they telling you now? overtime, productivity matters the most. learned, debt cycles. short-term debt cycle what you spend more than you earned over a short time. the five to eight year cycles, everybody understands that. then there is a long-term debt years and goes on 75 goes through its lim