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federal reserve again tweeting they are trying and succeeding in depreciating the year against a very strong dollar hurting u.s. exports and the fed sits and sits and sits they get paid to borrow money while we are paying interest so there's another attack by the u.s. president on the federal reserve which is to decide on its monetary policy next week all right chris cuomo as always thank you. here are some of the other stories now that are making headlines around the world israeli prime minister benjamin netanyahu met with russian president vladimir putin today the 2 leaders reportedly discussed military cooperation they've managed to warm up relations in recent years despite russia being a key supporter of iran which israel regards as an existential threat to eastern spain has been battered by severe rain and flash floods forecasters are predicting the most rainfall in a century in the valencia region the rain caused a major river to burst its banks and in neighboring because the idea of region an elderly couple died after floodwaters flipped over their car italy's new government says it has reached a deal with each new countries to settle migrants aboard a french charity ship in

u.s. federal reserve to inject money into the system. this is activity time they've had to do it since the crisis in 2008. it sounds wonky, but what happened here. repos, which are short-term loans used by financial institutions like banks hit 5% on monday. they spiked 10% on tuesday before the feds stepped in. they called it an overnight repo operation where it temds to ease markets. the goal is to pump money into the system to keep borrowing costs to keep from creeping above the fed's target range. it's unclear what's causing the stress in the market or how long it will last. the feds will conduct a similar operation today to help keep that in its target range. >>> president trump said he'll add $20 million to his 2020 effort. it was marked by clashes on local and national issues. trump criticized los angeles and france saying the cities are destroying themselves and suggested he may step in despite opposition from state leaders. the white house also signaled an environmental clash on emissions standards. kaitlan collins traveling with

decision risks being overshadowed by the federal reserve injecting cash into u.s. moneyime in a decade yesterday. powell might be asked about that repo rate. we spoke exclusively with the bank for international settlements general manager. we asked him about the challenges to monetary policy today. conundrum that monetary policy faces right now is that monetary policy has been tremendously competitive. we are at low rates of interest. we are still not fully there in terms of economic recovery. >> that's it. that's what i want to get at. can monetary policy perhaps engendering recovery? have they run out of options? the toolkit seems to be barren for a lot of these heads of banks. >> yeah. a little bit more can be done. many advanced a company -- economy central banks see inflation below objectives. growth is not where it should be. the effectiveness of monetary policy is not absolutely guaranteed. therefore, it needs to be complemented with other policy instruments. policies youother have referred to would be the fiscal side of things. >> absolutely. ittell us about how

federal reserve again tweeting they are trying and succeeding in depreciating the euro against a very strong dollar hurting u.s. exports and the fed sits and sits and sits they get paid to borrow money while we are paying interest so there's another attack by the u.s. president on the federal reserve which is to decide on its monetary policy next week all right because there were as always thank you. vaccinations have been one of the greatest successes of public health saving an estimated $2500000.00 lives every year but bax a nation rates are in the cloth leading to outbreaks of preventable diseases all around the world it is a problem that will be addressed today and tomorrow by the global banks an asian summit which is taking place in brussels. not too long ago laughter filled this fisherman's family home in madagascar. but now the family is trying to cope with their grief they lost 3 children in january due to a measles infection they couldn't afford to vaccinate them play with. their corn and it was all goes we'll but we didn't expect that they might die if they didn't get vaccinated but the fact that they were not vaccinated will kill them. madagascar is struggling to contain

federal reserve again tweeting they are trying and succeeding in depreciating the euro against a very strong dollar hurting u.s. exports and the fed sits and sits and sits they get paid to borrow money while we are paying interest so there's another attack by the u.s. president on the federal reserve which is to decide on its monetary policy next week right because there were as always thank you. are here some of the other stories now that are making headlines around the world beijing has some of the german ambassador after germany's foreign minister met with hong kong democracy activists just so long in berlin this week beijing in kucing germany of meddling in its affairs and it has warned that the high profile meeting will damage bilateral relations is strong urged world leaders to back the ongoing protests in hong kong dozens of people have been killed in a train derailment in the democratic republic of congo the dead are reported to be stowaways who were riding the freight train when it went off the tracks it happened in the province of tanganyika that the r.c.c. has seen several deadly rail incidents in recent years blamed on aging equipment. the new u.s. ambassador to the unit

the federal reserve again, tweeting, they are trying and succeeding in depreciating the euro against the very strong dollar, hovering u.s. exports and the fed. they get paid to borrow moneywhile we pay interest. there is another attack on the federal reserve. that is to decide on its monetary policy. brent: vaccinations have been one of the greatest successes in public health, saving an estimated 2.5 million lives every year. these are inclined do -- declined due to the outbreak of preventable diseases. it would be addressed today tomorrow by the global vaccination summit in brussels taking place today. >> not too long ago, laughter filled this fisherman's family home in madagascar. now the family is trying to cope with their grief. they loss -- they lost three children in january due to a measles infection. they cannot t afford to vaccinae him. >> they are gone and it is g g's willll. we did n not expxpect they mighe if they did not get vaccinated. the fact that they were not vaccinated would kill them. >> madagascar are is s strugglig to contain its w worst outbreakf measles in decades among a desperate shortage of vaccines. the highly contagious illness increases susc

u.s. money markets. a little more relaxed today. the federal reserve evaluating the fallout from volatility last week. dudley saying he is not worried >> -- too worried. >> we are in a good place. repo rates are back down to where they need to be, federal fund rates are in a good range. romaine: for more, let's welcome bloomberg economics senior economist and a macro fund manager. not a whole lot to panic about, done?g see, all >> it looks like it has been taken care of for now but it doesn't mean we don't have a problem. the fed put a temporary patch on it but they need to fix the problem more temporarily. as the bloomberg intelligence chief rate strategist has been talking about for some time now, we need to have a repo facility and the fed will need to increase the balance sheet once again. and they need to do it pretty soon. weeke events of the last creates emergency. is there any cost to balance sheet expansion if the purpose is just to ease the reserve shortage in the system? >> i think there are two important things going on and one of them is just noise. picture, major issue. two questions tha

u.s. federal reserve to create a standing means for intervening in money markets to the fed intervene for a 3rd straight day to inject $75000000000.00 of liquidity in the early hours of thursday the fed again had to act to ease tightening and then over subscribed overnight option the market for repurchase agreements or the repo market is a core correcting mechanism of the modern banking system in which banks finance their overnight credit needs on a daily basis the fed was forced to take action of the type not seen since the aftermath of the 2000 a global financial crisis or watch the federal funds rate which the fed is supposed to manage rise out of the fed's target range and fundamentally undermine confidence in the fed's ability to perform its primary function the fed announced. the thursday action on wednesday afternoon but many players were still unsettled by the recurring anomaly in money markets. and joining us now to clarify and resolve all apparent economic anomalies and irregularities is jeffrey tucker of the american institute for economic research jeffrey very interesting time

u.s. stocks. this is on the s&p 500. what we do know is the federal reserve has made it crystal clear it does not want the u.s. moneyt rates to spike again. these repo rates, put simply, are a very brief borrowing opportunity. one strategist referred to it as a pawnshop for big banks and financial firms where they could get very short-term loans in the money markets. when it does spike, it can present a threat to spill over to the fed funds rate, which makes it problematic for the fed, so they are using a tool they have used in decades past, have not used it for a while, to get in on a daily basis and sort of manage it. they are getting it again in the thursday session to inject about 75 billion dollars in liquidity to calm this down. so far, it appears to be working. paul: thanks very much for that. nadine turner joins us now. thanks for joining us. i want to start with that repo she was talking about. we have a chart that illustrates how the fed has managed to calm things down. what is the plan here? that is the third day of intervention. the band-aid approach seems to be working, but does some sort of longer-term

the federal reserve made clear it doesn't want u.s. money market rates despite again.has announced it will inject cash into the system for a third day. jpmorgan's chief executive shrugged off the turmoil. he said it isn't a significant problem and will only be troubling if the economy weakens. the final day of hearings and u.k. premier court -- supreme court for the parliament's suspension. promised the has government would put out a statement on what it would do if it loses the case. the court hasn't given a date for the ruling. it has the potential to derail boris johnson's brexit strategy or cut short his premiership. the bank of england looks set to keep rates on hold. staying out of the way of global easing. the decision came at noon london but no news conference from governor mark carney this time around. meanwhile, lawmakers are looking for clarity on the timetable for the governor's successor. they have written to the chancellor after it was reported carney's term could be extended. the bank of japan has left policy unchanged, the central bank calling for a re-

been the world's willingness to hold us dollars as the primary reserve currency and to continue to loan money to americans and to the u.s. government so we can continue to live beyond our means we can have enormous government programs that we don't pay for and we can consume all sorts of goods that we don't manufacture and we can live in a caught me based on consumption and debt without having to save or produce the world has done that for us and i think this is what's going to come to an end i think we're going to see a collapse in the value of the dollar and when the dollar does collapse america's power is going to dissipate and americans are going to have to deal with the reality that we've hollowed out our infrastructure we've been you know we're living above our means and there's going to be a day of reckoning for these years of excesses unfortunately you know trumped in start this but he may be the fall guy who knows and it is compound interest that eating it away you said when not if the dollar collapses peter you think it's inevitable. of course it's inevitable because we're not going to stop with the fiscal pro

u.s. treasuries and that would create excess reserve in the system and hopefully alleviate some of the tightness in moneyarkets. caroline: how do they explain that to the market? joe: we were just listening to president trump. he wanted us to expand the balance sheet. they have this open market operation today, another tomorrow. is it a problem? they can press a few buttons assuming all the computers work. they press a few buttons and the market goes back to normal. the fact that they have the power to make everything chill out. brian: it is a little bit surprising they didn't step in yesterday or early this morning. this is out of control. you freak markets out more by doing nothing than stopping in and doing this operation for the first time in more than a decade. from thes the reversal tightening of reserves they have been doing over the past several years. at this point, it is what the markets are telling them to do. romaine: tracy, what do you make of this theory that this kind of exposes what some have felt, that the banks and financial entities are not as well covered as we thought they were. trac

reserve chairman jerome powell is scheduled to talk about the u.s. economy and interest rate outlook at an event in switzerland. that's your cbs money watch report. for more, head to cbs moneywatch.com. at the new york stock exchange, i'm marc liverman. >>> it looks like it's comfortable out there right now? >> yeah. nice and cool. we have that refreshing ocean breeze kicking in for us so enjoy it and we will continue to see that onshore flow as we head through the week. that cooldown as we go through the next several days. it's been a little too hot for you, we are going to cool it down for you. a live look outside with our ocean beach cliff house camera and you can see temperatures running in the 50s and in the 60s with that gray start, 63 in concord, 62 in oakland, 60 in livermore, 59 in san francisco, 62 san jose and 54 for santa rosa. to your weather headlines, it's a cloudy start to the day, also areas of fog along the coast, parts of the bay, and even a gray start in some of our inland locations this morning. highs today will cool down to near average and we are looking at tomorrow, monsoonal moisture possibly working its way into the bay

money for the u.s. treasury. reporter: the chinese offering more stimulus for their economy. their central bank announced they will reduce reserves that other banks in china need to hold to sort of spark their lending there. china is not the only trade ball in the air. usmca, another big one for this administration, trying to push the house speaker into ratification this month. >> hopefully to get to the point where they are comfortable bringing this to the floor because i think if they do bring it to the floor i think it has the votes to pass. reporter: the u.s. administration would like the usmca to come up again this month but congress has one other deadline they have to deal with by october 1st. if they don't pass a series of spending bills, then again, connell, i will say it there could be a government shutdown. connell: speaking of, we'll see what happens. here we go again. edward, thank you, sir. back now to china for a moment. thousands of protesters hit the streets once again in hong kong. now they're asking president trump to quote, liberate the city from chinese rule. hong kong firing back warning the united states sho

dollar as the world's reserve currency i think it makes mischaracterizes it a little bit the dollar is a liability based money it's debt money what i think we should be focusing on are u.s. treasuries u.s. treasuries our assets big point is an asset gold is an asset and so u.s. treasuries is the way to think of what is the demand or what is the current available supply of the most liquid highest quality collateral in the u.s. dollar system it's not physical dollars because those are federal reserve liabilities and it's not digital dollar deposits because those are commercial banks liabilities it's actually the treasury because the united states government has the lowest perceived counterparty risk in the system so big coin holders should be thinking about taking out the u.s. treasury as the risk free asset of the world not necessarily thinking about replacing the dollar right and how big is that market so that u.s. treasury market is currently approximately 20 trillion the supply for the u.s. dollar market onshore plus off plus offshore we don't really know right and so roughly more than 2 time football market yes more than the treasury market is more than 2 times the s

u.s. is prepared to dip into strategic oil reserves if necessary. the trade weekend is off to a rough start. diane has those stories and much more in today's moneylive from the new york stock exchange. good morning. >> good morning. new reports from fedex and online fed store chewy. yesterday was a down day on wall street. the dow dropped 142 points of the nasdaq lost 23. s&p 500 fell 9. president trump reach an initial trade agreement with japan. in a letter to congress, to enter into the deal in the coming weeks, the president said he will be entering into an exclusive agreement with japan on digital trade. stomach the ceo at sea world step down after less than a year on the job. there the top executive at the theme park. they said they still believe it is seawell's mission even though he may have a different approach. >> we are hearing about a popular tv series coming inclusively to netflix. give us the details. >> moving never, netflix is paying a lot of money for a show famously described about nothing. they struck a deal with 30 pictures for the global streaming rights to seinfeld beginning in 2021. netflix paid well above the speculated $

shery ahn: you mentioned earlier the focus on the amount of reserves, given what is happening in the money markets. what about the focus on the u.sit? wall street has been struggling to be able to absorb this record amount of debt. zach: that is the other side of the coin you need to look at. for the longest time, yields have not gotten o ut of control even if we had the argest budget deficit. you need to wonder what kind of initial impact this will have. you saw today is another reminder we are issuing a pretty remarkable amount of debt. we do not see that changing. shery ahn: what you think about secretary steven mnuchin bringing up the long debt issuance, the 50 year century bonds. zach: it is interesting. from the perspective of borrowing at low cost it makes sense to lock in borrowing for longer. they look to this issue from 2017 and what they came up with was there wasn't the the man they think they could issue enough or issue on a regular basis. he main goals of treasury is for patterns to be regular it easy for the markets to digest. you got to wonder what has changed over the past two years if rates are lower, why are in

money in the bank. the federal reserve lowering interest rates again this year because of concerns over global growth and how it's impacting the u.s. economy. things aren't that bad with the strong labor market and higher household spending. >> we don't see a recession, we are not forecasting our session but we are adjusting monetary policy in a more accommodative direction to try to support what is in fact a favorable outlook. >> despite the move, president trump unsatisfied, hoping for an even bigger reduction in interest rates tweeting jay powell and the federal reserve fail again, no guts, no signs, no vision. a terrible communicator. investors put the chances that 60% for another rate cut in december this year and as the saying goes on the stock market, you don't fight the fed. bret. >> bret: susan li in new york, thank you. let's go live now to the border. president trump just south of san diego along the border wall meeting with reporters. let's listen. >> president trump: i'd like to bring them right up, look at the inner tube to see what happens because after the wall is up, we pour concrete and concrete goes into the tub

money out of china drastically, which will wipe out its foreign-exchange reserve. this is potentially a problem is potentially a problem for the united states because u.s. financial institutions have exposures to china to the tune of hundreds of billions of dollars. thanks -- banks in the united totes have to lend close hundreds of billions of dollars. institutions in the u.s. -- i do not know the exact number, i would guess 50 to $100 billion in debt should by chinese corporations. if the currency were to devalue drastically, the stature of a lot of these loans become unclear. chinese companies, whose cash flows are denominated, maybe forced into defaulting on their obligations. a thorough edit of direct and indirect exposures of major u.s. betitutions to the roman would be a timely thing. if it were to crash suddenly, major u.s. institutions would not get into trouble. to combat chinese industrial policies, the u.s. will need to increase multilateral efforts to increase transparency on china's financial subsidies to the technology sector. veryit is still substantial. -- it is still very substantial. it should coordinate with close allies to police tec

may lose confidence and move money out of china drastically which will wipe out its foreign exchange reserve, but this is potentially a problem for the united states because u.s. banks, u.s. financial institutions, have exposures to china to the tune of hundreds of billions of dollars directly and indirectly. banks in the united states have lend close to $100 billion to chinese institutions. institutions in the u.s. have bought -- i don't know the exact number, but i would guess, you know, $50 billion to $100 billion in debt issued by chinese corporations and if the currency were to devalue very drastically, then the stature of a lot of these loans become unclear. chinese companies whose cash flows are denominated, some of them may be forced into defaulting on their obligations. so i think a thorough edit of the direct and indirect exposures of major u.s. instituti institutions, i think, would be a very timely thing. just to headacmake sure if it w crash suddenly that major u.s. institutions would not get into trouble. finally, to combat chinese industrial policies and technology, u.s. will need to increase multilateral efforts to increase transparency on chi