u.s. economy. 's if the global economy drags it down, and i think the fed's been clear about that recently. maria: and we're going to get the chinese purchasing managers index this weekend. >> it's important. maria: which will give us an indicator of how the chinese economy is doing. can the u.s. keep growing the way it is even with what's happening in china? >> so i think people understand that the u.s. is going to -- we've gone through tremendous growth last year. potential growth in the u.s. is about two. the fiscal stimulus got us well above that. we're moderating to around potential the fiscal push now in this year is significantly less and maybe about neutral. so, you know, we should grow at about where we're growing. i think there is the potential, when interest rates come down like they've come down, you're now going to improve the housing market which ises hugely important to the u.s. economy. it'll improve the auto market. i think the u.s. economy's going to grow faster. you know, it's an

u.s. economy is doing well. >> a strong u.s. economy. >> the u.s. is not doing poorly. >> the u.s. onomy may be stuck here. >> it is a sequencing, the u.s. was stable last year. there is a pass off to china and improvement occurring in china. and europe is also stabilizing at the moment. jonathan: a big week for economic data worldwide and to discuss joining me around the table priya misra, gorshon distenfeld, and victoria fernandez. victoria, let's begin with you, your take. we have had u.s. retail sales, data out of china, and eurozone pmi. what is your conclusion this week? victoria: i think we did get a mixed bag as the people on the clip were saying. look, it is still trending to where we are still going to have positive momentum in the second half of this year, and as long-term investors that is what we're looking at. you had positive numbers out of china. you had retail sales doing better. gdp was where they expected, industrial production was good. you are setting that up. you are seeing the stimulus finally starting to feed through, and beijing is probably not done yet. we

u.s. economy is doing well. >> the u.s. is not doing poorly. >> the u.s. onomy may be stuck here. >> the u.s. was stable last year. there is a pass off to china and improvement occurring in china. a big week for economic data worldwide and to discuss is free from his rough -- priya misera and victoria fernandez. we have had u.s. retail sales, data out of china and eurozone pmi. what is your conclusion this week? ?ictoria i think we did get a mixed bag as the people on the clip were saying. we are still going to have positive momentum in the second half of this year and is long-term investors that is what we're looking at. of had positive numbers out china. gdp was where they expected, industrial production was good. you are seeing the stimulus finally starting to feed through and beijing is probably not done yet. that is going to be positive and you should have that feedthrough mechanism to go through to other those with the supply chain, vietnam, taiwan. germany needs china to do well. hopefully having this turnaround will help the european numbers. priya:

u.s. economy remains strong >> i was going to say, isn't that a reflection of the u.s. economy? he context of people being so negative about the u.s. and the u.s. economy's prospects to the results that have just come out of the banks? the banks are showing a very different picture. >> the banks -- some of the banks beat the numbers not by a large amount, but there was concerns going into the quarter for all earnings it was going to be lower you know, they were seeing the -- et cetera the outlook was quite weak with regard to the banks, we actually like the banks down here we can discuss that further if you like >> well, i do, but i also want to ask you about just broader markets right now because we're about 1% of all-time highs for u.s. equities, and this is a quarter where we're supposed to be seeing earnings per share contraction from with we were a year ago what is it is it that index investors don't really care about this quarter and they're more focused on coming quarters? why the disparity? >> it's a great question if you include dividends in the s&p, you're at all-time h

u.s. economy.an argument supportive of rate cuts and we suspect the dovish stance is likely to become more hawkish overall. but let's get through q1 earnings first. matt: you see dollar weakness coming, you say it is, in some cases, massively overvalued. you see percent overvalued to the euro. interesting you see as 10% overvalued to the pound. they could not figure out how to execute democratic mandate for -- mandate. why is the dollar so strongly overvalued? and does this change if the fed raises rates? yogi: if the fed starts to raise rates that will be supportive of a stronger dollar. it needs to be weaker, not at the valuations is currently at your a we know that the bp levels are not indicative of where the rates should be, but they are directional. we cannot help but see in weakening going forward. if this is starting to impact the reason itits has been so strong the u.s. , u.s. based assets are the ultimate safe haven and investors take comfort in holding. it has helped matters quite consid

u.s. economy. first-quarter numbers out on friday. the economy is expected to have expanded 2.3% quarter on quarter. amanda: we have seen some gloomier forecast than that but we will be watching closely. although it's a first read, we are looking for reassurance that some of the positive data points on the u.s. economy will be borne out in a broader look. keep your eyes out on private sector inventory numbers, business investment has been stronger. that is lending some optimism to the op the -- idea that we will see better numbers than f eared. it seems that trend that we saw in 2018 of u.s. exceptionalism, whether the markets or the economy, could continue into 2019. amanda: absolutely. that's been the story. the weight of global trade, trade uncertainty weighing on the economy. the u.s. and japan kicking off a second round of negotiations this week ahead of a visit from japanese prime minister shinzo abe. kevin rudd is the former prime minister of australia, currently serving with the asia society policy institute. the u.s. backed ou

u.s. economy. k the state of the economy, if you worry about a recession in the near future? really, china will grow at 6% because they can. state-controlled , they simply can't do monetary policy, youbank build the road, they will meet their objectives. it's not great growth, they are building imbalances which i think eventually come talk them about the for the next couple of years, they will hit their targets. japan doing 1%, brazil 1%, brazil has turned the corner. the united states is chugging along. forget the noise, and all the political stuff about sex market and all that. is going down, confidence is high, almost the highest all-time. it's still in the upper quartile. it's coming down because of the shutdown and trade and brexit. supply, youn short don't have the leverage like we had before. it does not mean you can't have a recession. my view is that we are plugging russia,and venezuela, possible fiscal policy , thoseing policy errors are mounting issues which can easily derail an economy.

u.s. economy, is that a fair statement? >>> y >> yes, i agree. that's our position by the way, we'll see this, look, you've got sort of two areas here, again, i'm not forecasting an outcome, because deal is not done yet, has to be a great deal for the u.s. to your point, which i agree, really jimmy's point, first, on the structural issues, we are hanging very tough there must be enforcement, we have to shift the it theft, stop the forced transfer of technology, we have to open up the cloud there. so we can use it from our production here in the united states from the commodity standpoint, both farm and industrial, you've got to have lower tariffs and nontariff barriers, and that's an area where our team is going to be particularly tough we love exports. and in fact, in today's report, net exports was a driver of the 3.2% gdp that's terrific. that's a trump policy that continues. but, because of our strength and because i think china needs to open their economy to better growth outlook, we will be strong, this number helps that a lot. we will be v

u.s. economy is doing fine. trade agreements with china, canada and mexico are moving along but american optimism is high. the president continues to push -- d with plans to nominate now residents are being want to keep their windows closed as smoke from a huge chemical fire blankets australia's second-biggest city. it is expected to burn for several days. escape theanaged to warehouse as the flames took hold. global news, 24 hours a day, on air and on tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i am paul allen, this is bloomberg. in any schools of interview with bloomberg haslinda amin, --y used matter academic macro policies -- macroeconomic policies. said, what we are onceg now, probably only year, -- and then next this will show us how we had to respond. ourave to look into accident stability. this will insert the external affair ability. are more forward-looking. ago, we had a more dovish fed. what do they by jay powell? it was very strong and good last

u.s. economy >> go ahead. >> i do think that china's slowing. slowing significantly and it has very serious problems that will cause it to slow further i don't think that we should sort of brush that aside and say china, everything's fine with china, because to the extent we do get rebalance in china, they're driven by the same credit that created a bad debt drag on the economy. that said, a slowdown in china does not translate directly into a slowdown in the united states and the rest of the world necessarily. >> no. >> china's current account surplus has been shrinking it's expected to go into deficit this year. that actually means that even as china's output begins to slow its demand continues to rise and that's really what drives growth and the rest of the world. >> okay. >> china shifting in this direction is not snesnecessarild for the u.s. economy. >> go the to go. charlie, two-second attackaway on lyft, like it from the start? still stay away? >> absolutely not. losing money on every ride even before sgna a model you have to have at leas

u.s. economy and for possible future grows in february that's where we got the numbers for we saw exports from the u.s. increasing more than imports and probably that there was a little bit of softening in the trade talks between china and the u.s. played a major factor for example soybean exports increased them quite a bit and talking about china there were none not confirmed reports that both sides might be aiming to come up with a deal by memorial day what would be by the end of may but we had said. earlier and so far they haven't materialized but also talking about hope so there are some signs that we might get a deal between the u.s. and china soon eternal optimism from the ends quarter there on wall street thank you very much. the portuguese government has declared an energy crisis gas stations are running dry as eight hundred field tiger drivers continue to strike over pay and working conditions it's the worst industrial unrest the current administration has seen and especially motorists are feeling the effects of long lines formed at gas stations across portugal many no longer have

u.s. economy. shawn, let's start with you. what we know about the discussions with japan over trade? shawn: we know both sides want these things to go quickly. they are the first round of talks last week. they meet again this week. the leader shooting down again -- the leaders sitting down again later this afternoon. they want to move ahead with these trade talks and given the uncertainty in the relationship that has been there. for president trump, that is focused on the agricultural sector. a lot of farmers who would like to do a lot more selling to japan

u.s. economy from the consumer?ink consumers and investors both would take a lot of sort of negative emotional response to this, and you're going to see that definitely dent people's confidence that the economy will ton growoi and you're to see that dent investors' confidence that both the economy wil grow and that they can trust this administration and d.c. in general to make the right choices. >> are we seeing at all? maybe youow don't often when there is a threat of a shut down of some kind or trade bargo, you will see a spurt of new trade go on. are we seeing that right now on ethe border in c there is a shutdown? >> trade on the border moves sok quickly, i t it would be impossible to measure, but as you noted earlier, tre is a backlog of trucks trying to get across. trade against the mexican-u.s. border goe across. >> clayton allen with height orcapital markets, thanks joining us tonight. >> thank you for having me. >> auto sales for march shows sales are slowing, something we toldou was likely. honda was one o

u.s. economy ws the traditional in street capital markets co well. in the u.s., b of a is definitely the one people will be watching and we whole swath of regionals reporting over the next >> how do you expect the regionals to do? >> generally pretty well. pnc is probably the best indicator so far. i think what you'lsee is loa growth looking to overwhelm flattening or potentially some s compn in net interest margins and overall the group has capital manageme opportunity and expense levera as well and we feeut the group. >> we're off to a good sta. >> scott, thanks so much. >> thank you, su >> scott from sander o'neal and . disney shares are having their abest day in a decade, th the company late last night unveiled the details o streaming service that will pu the company into the already competitive online video other ma, but investors like what they heard, sending the stock up moth 11%. >> we're starting from a position of strength, confidence and unbridled optimism. >> unveiling its dney plus streaming platform at a shareholder event, ceo bob iger s

u.s. economy continues to grow inflation is moderate, financial markets are healthy. do you agree with jamie diamond that everything is awesome >> absolutely. we've been telling our clients for some time that the growth and global growth is made up of the usa and emerging markets jamie echos what's happening in the u.s. this takes off the fears, the rhetoric that everyone is talking about about inversions, recessions, and getting back to business of high quality companies delivering high quality earnings. >> you know what they liked more than the comments? the numbers. up 4.5%. >> the consumer bank at j.p. morgan saved the day that's where the growth is

u.s. economy. what is the run rate for growth right now? andrew: i think we're at a 2% plus the economy here. it is difficult because you have weaker data sundays, other days stronger data. when you are trying to disentangle is some slowing last year when we were growing around 3%. we think we will slow down somewhat from there, but is this just moderate slowing or something deeper? right now we jesse moderate slowing in the data. amanda: one thing we have seen is businesses are beginning to spend on themselves. we are seeing plant and equipment investment. the majority remains for a public company on things like share buybacks. at what point do you become concerned that is the choice businesses are making? andrew: we have wanted to see in this expansion more business agreement spending, and that is something we saw in 2018. allhat holds up into 2019, of these numbers will be a bit weaker in 2019, but we still have positive growth on the equipment investment side. growth,imately boosts and a way that is not inflationary. i think that would b

u.s. economy. >> it's two things, really. on the one side the growth numbers are good enough and strong enough to tell us that rries about dramatic slowing were overdeputy. on the other side, the inflation numbers have been very tame. a beg part of the earnings report isor well with the at pce price index that the fed zeros in on and t oir goalr time two% with that inflation number and that number on the quarter basis is 1.3% this morning and we've heard dovish officials om the fed over the last couple of months and with inflation as low as it it is prettylear they're not going to tighten any time soon and with growth as tight as it is and the labor growth numbers as strong as they are, are they're not goi to ease either. from the stock market's perspective, the fed on hold story is a good one. >> finally, jim, bob pisani mentioned this china and it's still not clear that this country is doing okay. is the u.s. able to continue growingven if china's weaker and europe, as we know is weaker? >> even c ifna goes from what they r

u.s. remains a relatively closed economy. tainly have to keep an eye on what is going on overseas but the basic impulse for u.s. growth remains what happens here in the u.s and so i think that as a policymaker in the united states, it makes you a little more sanguine. but i think there are some risks over there in both europe and china. and the fed should be thinking about those as they formulate policy certainly >> have you been surprised by the core cpe you mentioned inflation is really nowhere to be found anywhere has that surprised you >> i would say i'm less surprised than some, but still surprised. i thought that we use see a very low unemployment rate without much inflation, but i continue to be surprised by how much employment growth we are able to generate, how low unemployment can go sounds bad, but that gives me as you can have more of a growth without generating inflation so i've been surprised, but it is good news and it means that we can facilitate more growth without risk >> and your idea that perhaps the fed sh

u.s. economy. but we need to have fair trade we can't have one-sided trade where all these goods come into the united states and we can't compete fairly abroad. that is really what this is about. i'll, obviously, see a lot of my counterparts over the next few days and a major part of the discussions. >> we are here at the meeting and it's just downgraded to the lowest level since the financial crisis do you feel that the tariffs and the trade fights have played a major role in the lower growth outlook sph. >> i don't i think we're in an environment where the u.s. is the bright spot of economic growth. no question that the president's economic plan, tax cuts, regulatory changes and trade are really helping propel the u.s. economy. and there's no question that growth has slowed down in china. growth has slowed down in europe that will have some impact on the u.s. economy, but this is really, this is not about trade. this is about issues slowing down in europe and abroad. >> do you worry about the res

maria: what can you say about china's economy and the impact on the u.s.? ina is slowing. but again, i think that opening of their econom economy and thee reforms is important for their own growth, not only good for the u.s., but will be good for them from a domestic standpoint as. maria: is the president willing to remove all tariffs? >> imnot going to comment on the specifics of our negotiations and what the president may or may not be willing to do at a specific time. maria: what about the espionage issue? there was a story in the journal the other day that basically says china is growing increasingly aggressive in spying on the united states and the journal says it has become washington's single most important counter dashe- espi. s is this part of the talks? >> those issues are separate from the trade and economic issues. those are not part of the discussions we're having over the next two weeks. but there are discussions going on between us and chinese government on many important issues. maria: look, huawei has been a big issue. the president has not

u.s. economy, the strongest growth we have had in more than a decade. labor market is strong, historically low unemployment, the lowest in 50 years, wages going up, labor force participation going up, and inflation near target. we see continued momentum from the data through this year. we see the financial markets expressing a view of concern about downside risks associated with global growth and trade. so how do we put those signals together? i think we are actually in a good place. where that leaves us is we have the ability to be patient and watch patiently and carefully as we see the economy evolving and figure out which of these two narratives will be the story for 2019. david: at the end of last year, in december, people thought that perhaps two fed fund rate increases were part of your plan. is it fair to say that is not a part of your plan today? jay: the better way to think about it is there is no such plan. we don't actually vote on a path or plan for interest rates. we have each individual participant on the fomc submit his or her individual

u.s. economy and market is a bit on its own and last year, the u.s. not benefit other economies. recovers, that will definitely help a large group of countries including korea and taiwan. markets like germany which have done extremely poorly in the last year would benefit more from a recovery out of china. the focus point should definitely be the chinese economy and chinese markets. shery: david gaud, thank you and cie asia.et the most aggressive policy in three years. we check out the future of the fastest-growing economy. and saving a billion dollars out of tokyo. this is bloomberg. ♪ >> this is daybreak asia. i am shery ahn in new york. >> a does get you a quick check of what is moving in the early friday session in asia. reaction in the trading in dollar-yen and bond movement across the region. along the line from what we heard from the taiwan news agency. that the chinese president wants a quicker finalization of the trade agreement with the u.s. sense ofon the momentum we are getting in the trade story after president trump met with the chinese

u.s. economy may benefit in any way the u.s. economy would be much better in the comparative world and not in the untag unease and which is growing day by day all around the united states so. he's trying to get in on the air bus subsidies shows more than they can normally crease in a police vehicle willing to punish those allies who are not working in favor of the united states according to mr trump and so they are looked at as cook competitors and in his mind and the like can be a competitor should be abiding as an ally and of competing with the other ally so that's why he's acting in this way but this would all need rain forests what is already present across the spectrum the political spectrum in europe that is to look east therefore as you were calling during your edible. and as you were calling the you today there's been this trait meeting between the e.u. and china and this is something that for instance germany is very much interested in and more and more would see a sort of distancing of the atlantic shores and europe loo

u.s. economy seem to be going okay is this a market, an economy that needs a half a percent rate cut right? >> i used to work for kudlow at payne weber years ago, so whatever he says goes certainly. it would be unprecedented to cut ra rate the rate. >> they think we're going into a recession. we're right next to the cliff about to go over no, we're not. we just got unemployment claims. they did their benchmark revisions and claims are at the lowest levels since 1969 >> but there's an odd logic to that if you are to your point saying we need a rate cut, is there a -- maybe a downward spiral of americans, cnbc viewers saying wow, if they're that worried shouldn't i pull back my spending >> yeah, that's the danger the fed's communication is kind of flawed in terms of they warn us about the downside risks, and the reason they warn us about that is they say that's the sill, the dog whistle for we're going to cut rates or we're going to ride to the rescue. they're telling people there's downside risk. what corporate executive is going to go out and buy a new piece of equipment for the future wha

u.s. economy, not just ask a car and canada's economy.id the message get lost to the american people? if you poll a lot of american people, they don't seem to believe that. peter: i think in part, we all remember ross perot talking about the giant sucking sound from the south. you cannot equate that with the job loss and the general period of this investment in the center of the economy, disinvestment and manufacturing, and a migration from the u.s. so that job loss and that increased economic anxiety, growing inequality, was all coupled with nafta. 25 years. i think it has been unquestionably good for the u.s. economy, has created quite a few jobs, stabilized mexico in the way that was good for the u.s., not just for them, but that is in part where the message got lost. if americans felt like they were living better and better, -- they were not living better and better under nafta, there was a scapegoat. go to corruption. as u.s. companies go around the world, european companies as well, there is a lot of corruption solicited. not a new

u.s. economy.week we get more earnings, including alphabet, apple, shell, and royal dutch shell. apple,ind out what is -- ge, and royal dutch. let's get more with viviana hurtado. viviana: terrifying moments described by the rabbi wounded in a weekend attack on a southern california synagogue. weapon the shooter's miraculously jammed after he shot four people. one person died. the suspect is described as a 19-year-old college student. he allegedly posted in anti-jewish, anti-muslim manifesto on social media. socialist pedro sanchez is on his way to returning as president in spain. when his budget failed to pass, he was forced to call an election. global news 24 hours a day, on air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm viviana hurtado. this is bloomberg. lisa: 1/4 i've s&p companies will report their earnings this week. here to give us the scorecards are far as taylor riggs. taylor: it looks like companies the incomes down they'v

. >> the underlying economy is doing well. >> the u.s.s doing relatively well. >> it looks reasonably stable. >> the u.s. is simply in a better place. >> the economy has continued to grow. >> yes, gdp was higher, but the devil is in the details. >> you have to strip out all of the noise of trade and inventories. inventories and trade, that is not indicative of the underlying economy. >> underlying demand was weak. business investment, pce cooled. >> the u.s. economy is decelerating. >> definitely a deceleration from where we were last year. >> nowhere close to recession. jonathan: joining me around the table is matt hornbeck, greg staples, and from london, ian steely. ian, let's begin with what must be the most hated 3% read of gdp in america in recent memory. why? >> you say it is the most hated, we have stocks up, treasuries up, but everyone seems to like it on the markets side. it is one of those, you beat expectations, but the mix of it was not great. it shows what people have been saying, we are in the slow trend-like growth environm

u.s. economy is in a good place. to discern the economic indicators around the turn of the year. remember, the first quarter always has residual seasonality. jay powell work hard to tighten .inancial conditions slowly slower being good. whenu are growing at 3% the unemployment rate is already below your natural rate, you have to slow to sustain expansion. things got in the way. the government shutdown, noisy data, a more sharp slowing in china. but that's mostly in the rearview mirror. joe: the relationship between the on employment rate and the estimate, the natural rate of on climate and inflation. over the last few years, economists particularly at the federal reserve really have miss estimated when inflation would pick up. in your own words, i'm curious how strong you feel that link is, and whether you have done any fresh thinking about what we know about these things? vincent: two things to begin with. an unidentified flying object, not a fixed point in nature. number two, it has fallen over time associated with

u.s. economy many economists and opinion makers warn that this gig economy offers only precarious employment. law within this new economy matrix. so how would you respond to that the sharing economy it's one of the best ways for new revenue streams to come in i mean this made it possible for us to keep the house that we might have otherwise had to sell so i mean i think it's an enormous opportunity for lots of people right so here we are near malibu and of course i suggest. to los angeles and the hollywood industry and of course the hollywood industry is you know the original gate economy you know you've got a great. talents and all above the line below the line products come together for a few months then they disappear and it's worked for generations here in los angeles it seems like that model is being kind of rolled out to the broader economy if you have a skill set and here are highly skilled you just kind of roll with it and as projects come you attach yourself to projects this does do away with the notion of job security as a lot of people brought up with that idea but this is you hav

u.s. economy. >> economy is growing and wages are gross e growing faster than people think. >> speaking of the baimging industry santander has underlying return on exit between 13% to 15% karen joins us with more i have to say, looking at the numbers, 13 parking lot 5% target seems very ambitious in an environment where other banks are struggling to get to 10% >> this is a bank that has ambitious targets, and the problem is that there's a chill in the air when it comes to european banking at the moment some of their optimism that was in the banking system about expanding mims at some point in 2019 and 2020 just evaporated recently with a very dovish etb. the other big issue, of course, is brexit and the uncertainty happening in the u.k while this is a bank that does have a big emerging market footprint, the operations in brazil and mexico, there are still questions at this investor day about how to cheese those very lofty targets let's get to an investor who has been inside listening to what's been taking place. derek quinn joins me, the european bank analyst. good morning to you. >> good

u.s. economy, why would the fed cut rates. vonnie: larry kudlow was saying that the president is pressuring the fed, certainly not on policy, and an opinion. the two latest nominations, herman cain comes on the heels of a nomination of stephen moore's who would have to be stephen moores confirmed by the senate. it is an ongoing saga. we will be following his trip to the border -- the mexican border with california and will be bringing you all of that later on. this is bloomberg. ♪ vonnie: live from new york, i am vonnie quinn. guy: live from london, i am guy johnson. i want -- i thought that payroll number would have been that are for equities. equities are going nowhere in a hurry and are trading on light volume. here's abigail doolittle. abigail: we are looking at gains in the u.s. and in europe. they are relatively small. take a look at the s&p 500 and nasdaq up .5%, and not reacting to president trump's comments that the fed should stop shrinking the balance sheet. there is the stoxx 600 up .2%. in china, perhaps -- expres

. >> the underlying economy is doing well. >> the u.s. is not doing poorly. >> the u.s.s doing relatively well. >> it looks reasonably stable. >> the u.s. is simply in a better place. >> the economy had continued to grow. >> yes, gdp was higher, but the devil is in the details. >> you have to strip out the noise. >> sift through all of the noise of trade and inventories. >> if it is inventories and trade, that is not indicative of the underlying economy. >> the underlying demand was weak. business investment, pce cooled. >> the u.s. economy is decelerating. >> definitely a deceleration from where we were last year. >> but, you know, nowhere close to recession. jonathan: joining me around the table here in new york -- matt hornbach, global head of interest rate strategy at morgan stanley. greg staples, dws investment mangement fixed income co-head. and joining us from london, iain stealey, international cio of global fixed income at jp morgan asset management. iain, let's begin with what is -- must be the most hated 3% read of gdp in america in recent memory. why? iain: y

u.s. economy right now is what >> gosh, equities. >> well, we know the stock market -- >> not the u.s. - >> but they're doing well. >> also this, it is biggest risk to the u.s. economy right now is what >> inventories, actually, which i think could make q1 rook much better than some people are fearing, but we're going to have to destock over the course of this year, and that's going to drag on growth inventories, the most bullish case as well megan green, thank you very much for your patience. we'll see you soon >>> well, let's switch gears now to a major developing story in the housing market increasingly extreme rain is making some neighborhoods simply uninhabitable. now the state of louisiana is using a federal funds for a remarkable experiment that could turn into a blueprint for dealing with what some are calling climate refugees >>> at a small church meeting house in a small louisiana farm town a small community is making a very big decision. the community is moving together to higher ground the state of louisiana is using federal funds to purchase land, build new homes, demolish

u.s. economy in the global economy without your institution? i think the global economy would be a different place without citi and the banks here. last year showed we had actively engaged with and financed and supported over 700 u.s. companies around the world. if we were not there to do that, as i said in my opening statement, that would fall into the hands of foreign banks, and as we know in the world of cyber , the playing field is not necessarily level. we act as an important agent for our companies are brought. what does mr. dimon, the world look like without your institution, or if your institution were forcibly broken up, particularly in a downturn? moves six join dollars around client, afor our large part -- $6 trillion around the world for our client. issues, that would all have to be done by other large banks not based in the united states of america. i do not know what the long-term effect is. a country that does not have a strong banking system, including the large bangs, you will not have a strong economy. you can go around the wo

u.s. economy is headed for a he recession. a recession. the reports out today include retail sales and business inventory, durable goods orders and auto sales will be released tomorrow. we'll get the adp report on wednesday, jobless claims on thursday and the closely watched jobs report for march comes out on friday. traders also going to be watching the latest round of trade talks between the u.s. and china. separate thursday and friday in washington. senator lindsey graham telling maria bartiromo that president trump is the best chance for the u.s. to stop china from cheating in his lifetime. >> we will get a great deal or we will have no deal at all. somebody needs to bring china to heal, somebody needs to make them play fair. i'm standing behind president trump. cheryl: speaking of china, key measure of the country's manufacturing sector growing for the first time in four months. china's purchasing manager index riding to 50.5 for the month of march. lauren: joe biden is challenging claims that he inappropriately touched an assembly wo

u.s. economy, and you said in your report that the u.s. is going to lead the recovery who it comes to the oil markets. >> what we've said in our report, overall theme was mixed signals. what we meant by that is that we have knowledge that towards the end of last year and the very early part of this year there has been some weakness in demand in the oecd as a whole. for the time being while we acknowledge that, yes, there are concerns and that the imf had a gdp downgrade. for the time being we retain a view that the main drooichgs factors in china and india and the united states, which, of course, has a booming petrol chemical industry, those driving factors remain very powerful >> they're powerful at this point in time, but what could be the biggest changer here what could be the biggest factor when it comes to actually moving the dowel when it comes to demand would it be the end of the trade war between the u.s. and china what happens if we do see a trade war between the e.u. and the u.s. >> if there were to be trade wars, then that would