and he has actually been under sanction from the united states treasury since last year. recently said he wasn't interested in negotiation for the sake of negotiation with the united states. is a senior research fellow at the center for middle east strategic studies is also hossein taken as a strong candidates, but by no means guaranteed to win. he has had good relations relative with different facts of the country. he has strengths and weaknesses. he has good relations with the office of literary. he is an advisor to the there he has good relations with the heads of branches in the country as well as armed forces. so this can be a important point for a person who wants to serve as a president in the country. in some factions he is considered to have a charismatic authority. very people think that this can be a strength point to tackle with the corruption or management mismanagement in the country. and this point being a military man, he enjoys a tone, a diplomatic tone that when he talks on foreign of foreign policy issues. but on the other has a hand, he has also weaknes

the stimulus from the federal reserve plus national erodes of on the to school side from united states treasury whatever the number is you have to remember that the federal reserve is now running money corporations are miscarried in a way it never did before at the federal government there as your oath is explained it is running deficits bigger than every bill and ribbon or whatever you see in the behavior of the economy this is an economy that's on life support from government what you really see is a government. by what is happening and what looks like it might be after that it is throwing caution to the winds flooding the economy with money and with government deficits where that goal is and how that develops is anybody's guess what a healthy functioning economy no we don't have that that's where we're going to have to end it professor richard walsh and dean john quelch thank you both for breaking this all down for us. thank you. time now for a quick break here because when we return beyond the trade war with china the trumpet ministry to take issue with tech giants from the nation would div

if she takes the job she'll be the first to head the united states treasury.t be the first woman to have her signature on our money. there has been a woman's signature on our dollars since the '50s, two people signed our money. the treasury secretary and the u.s. treasurer. u.s. treasurers have been secretaries. >>> let's look at where wall street is heading. clearing the way for biden's official transition getting things back to normal and investors like that, too. shares in tesla have been climbing since the company was selected to put its place in the s&p 500 that's made more money for elon musk. he is now the second richest person in the world. he's overtaken bill gates and second only to amazon's jeff bezos. musk's wealth is $128 billion. gates has less money because he donated billions to charity and is helping to fund the certificate. for covid vaccine. >>> and netflix says its limited series "the queens gambit" the most watched original series ever. los gatos-based company says the show about a young woman's battle with addiction while becoming the wor

if she takes the job the first woman to head the united states treasury. if you want some fun trivia, or at least i think it's interesting, she will not be the first woman to have her signature on american money. in fact, there's been a woman signature on the dollar since the 1950s. two people sign our money. the u.s. treasurer who works under the secretary. it's been an unbroken string ever since. where wall street is headed, investors pleased with the pick, though it's not official yet. the general services administration has cleared the way for biden's official transition. investors like that, too. shares in tesla have been climbing since it was added to the s&p 500 making more money for elon musk, the second richest person in the world overtaking bill gates and is second only to jeff bezos. estimated at $128 billion. now we should point out gates has less money because he's donated billions, $50 billion, to charity, and he's helping to fund the search for a covid vaccine. netflix says "the queens gambit" is the most watched original series ever. the sh

if confirmed, she would actually be, get this, the first woman to ever serve as united states treasuryecretary. now, there is also scrutiny today from republicans and democrats about policy. of course, it's not just who's in charge. that matters for representation, but what are they gonna do and how will they face a spiraling pandemic that continues to drive a recession, affecting so many? as promised, we turn now to erin haines who has been at the intersection of these very issues. and back with us, juanita toliver. good to see you both. erin, i'll go right to you on this. on the one hand, this is what he drew attention to and joe biden's also said explicitly if he has a suspect vacancy to fill, he plans to pick an african-american woman for that. on the other hand, as i emphasize as a reporter, it's early days and there's a reason why they are politically leading with some of this. we haven't seen the whole cabinet. we haven't seen all the policies. what do you think is important on a night like tonight at this stage? >> well, yeah, it's good to be back with you, ari, and it is espec

but let me be clear, i do think the united states has real issues in terms of its trade relations with china. annmarie: former fed chair, soon to be if confirmed treasuryecretary of the united states, janet yellen. coming up, as the virus continues to rage across europe, leaders are grappling with how to keep their economies afloat. that is coming up next. this is bloomberg. ♪ ♪ >> from saturday morning, several changes will become reality. i know to what extent the weight has been long and how much this contributes to our daily lives. our city centers, town centers. therefore, all shops can reopen and home service can restart, but within a strict health protocol. manus: that was french president -- annmarie: that was french president emmanuel macron announcing a gradual easing of lockdown measures. merkelchancellor angela is proposing tightening the rules and extending the nation's partial lockdown. here in the united kingdom, the rules will be relaxed over the christmas holiday. joseph little from hsbc global asset management is still with us. you hear it from the european leaders, the fact that they still need to get the virus under control. very di

1789 by james madison, who served as the fourth president of the united states, alexander hamilton, who was the first secretary of the treasury of the new republic, and by john jay, who was the first chief justice of the united states supreme court. the purpose of the papers was to persuade the citizenry of the young nation of the need to adopt a new form of government and to leave behind the very loosely foreign government which the citizens had seen under the articles of confederation. in authoring the federalist papers, they exhibited, if you will, the very best qualities of leadership that we see in lawyers. madison was not a lawyer, but he was learned in the law. hamilton and jay were, of course, lawyers and they used their lawyering powers, their abilities as leaders in the capacity as lawyers and drafters of the federalist papers to successfully usher the constitution to its ratification in 1789. we believe that the discussion today between toalmage boston ad secretary baker will further illuminate the fact that lawyers are given the powers, they're given the opportunity, they're given the license by the state to exerc

it would not be moving forward with a ban on tiktok downloads in the united states pending further legal developments and the treasury makes clear that the commerce, as and the treasury pursuit of some sort of deal are the ruesults of separate orders there's an august 6th and august 14th executive order. there's a lot to follow here i think the bottom line is that we have another 15 days for a potential tick tock deal before that ban could potentially move forward. >> we know you'll be all over that story we'll come back to you with more details. >> we await a vaccine. millions american continue to work from home or work remotely. we gathered some of the biggest names at the workforce executive counsel. i spoke to the head of remote about how employers and employees can have success take a listen. >> you will notice that you will probably struggle or suffer in you are less transparent, if you lean less into iteration iter's and transparency are core values at gitlab and we do those to make our business harder and faster it's the hardest to embrace. you think you have iteration figured out. we mean ship fast, ship ear

the first woman to become treasury secretary the united states. leen hays is here with the latest. yellen head janet of treasury actually mean for policymaking? kathleen: i would start by saying it will have a lot to do with whatever a president joe biden wants to see for the economy, wants to see for the banks, wants to see for taxes. the treasury secretary serves the president. one of his key cabinet members. at the same time, we know that janet yellen has important attributes that i think her supporters around joe biden figure she brings to the table. remember, she was at the federal reserve when the economy slid into the recession and became the great recession. when we had the worst financial crisis since the great depression. she knows what it is like to deal with a crisis and dig a weak economy out of a hole. after she had admitted over the years that perhaps the fed did start raising rates and keep raising rates too soon when she became fed chair, but inflation barely reach 1% and was far from 2%, now she will be ready than ever to say do n

the number one you were talking about there also with our analysts from the united states is janet yellen serving as treasuryary. joe biden picking her as the first woman to be in that post. very widely seen as working with jerome powell. janet yellen served as vice chair and chair of that institution in the past. and also the thought that everybody decision would be a sensible one. that's the view not only in the united states but far beyond wall street. let's take a look at the tally of the surge in november, the s&p500 up 11%, the united states at a record. and then we have the global index, 13%. and look at the european markets, both and paris and milan surging trying to catch up with the gains we've seen in the united states. we have a data point, if you will with china with the vaccine distribution. so, different political set up, military set up, security set up. but we see the factory orders have surged to a three year high of 6.6%. that won't be the same playbook, if you will, for the united states and europe. but there's a thought that this time next year, we should have herd immunity because of th

we have a formal transition process underway in the united states and we have the secretary of treasury picked by the biden team at the market seems to like. i want to get your initial thoughts on all the latest developments. >> yes. i think that's an interesting choice that the market likes judging by its reaction yesterday and i think what it underscores is the fact that this is going to be a much more predictable and sort of collaborative approach taken by biden. and it is likely that because you have not had a blue wave, some of the more aggressive measures that the market was worried about are likely to be watered down, particularly on the corporate tax front. as well as some of the more ambitious fiscal stimulus is. it's going to have a whole different tone and clearly, you know, the risk of unpredictability has been somewhat removed. so let's wait and see how this one unfolds. good morning. the risk of unpredictability also being assisted by the news flow from astrazeneca. we can -- we can get into the debate about the efficacy rates and the study. the overall mood and markets ha

united states as well as reports the u.s. president-elect joe biden is going to be naming janet yellen as his treasury secretary to replace steve mnuchin, the former federal head of the -- former head of the federal resee is seen as an experienced voice to shepherd the united states out of the coronaviru recession and overseeing next round of financial stimulus and getting millions back to work. charli: kate moody with our business update. thank you so much. i'm going to take a quick break. i'll be back with more news in just a couple of minutes. 11/23/20 11/23/20 [captioning made possible by democracy now!] amy: from new york, this is democracy now! as president trump continues his unprecedented attempt to stay in the white house despite losing the election, we look at how voters are fighting back and how trump's legal team is losing in the courts. we will speak to emily bazelon of "the new york times" and the therend wendell anthony, head of the naacp in detroit, who recently lambasted

sources that janet yellen is the person that biden is likely to announce as the next treasury secretary of the united statesly he's already made his choice, though not formally announced it but the person is someone acceptable to all parts of the democratic party, and if you looked last week as we reported that it was going to be yellen, you actually see that what he said is bearing out. especially when you look at the way that markets reacted all the way over to the other side of this where elizabeth warren was saying that janet yellen was a choice she could back for the treasury department. >> carol, just quickly to you. any word from the white house on this assassination of a top nuclear scientist in iran? >> reporter: no. they're declining comment at this time. the president has retweeted raising eyebrows, some reports about this alleged assassination including one that called this a significant blow to iran. again, i asked about that. the national security counsel is not adding to the president's retweet at this time. >> all right. i know that if this develops, you'll bring it to us. thank you all. rea

janet yellen the first treasury secretary of the united states in the history of the republic, you know, avril haines over as the dni, that's historic. as well. but i think we shouldn't lose in my i don't rememb mayorkas the new dhs secretary is a cuban-american immigrant, also historic and symbolically important, but we shouldn't love in the historic nature of these picks the fact that as a group they're very coherent, they reflect biden's governing philosophy and they are manifestly experienced and component. and in that sense distinct from some of the appointments that we've seen under the current administration, in terms of the coherence, you know, as a group on the national security side they favor robust diplomacy, they believe in strong alliances. this is a big shift in our foreign policy, it's one that biden has fore shadowed throughout his campaign. on the economic side yellen broadly respected, also has emphasized what biden did, a focus on jobs and wages and not just controlling inflation, which is not the problem right now. >> right. >> so it's very much in line with what he

if she would be picked, she would be the first woman ever to be selected as treasury secretary in the united states. wolf? >> president-elect also said that the person he has chosen, and he and the vice president-elect, they made up their minds, saying this person would be accepted by both the moderates and the progressives, the more liberals, in the democratic party, which i thought was very, very significant as well. jeff zeleny, stand by. we'll get back to you. let's go to the white house right now. boris sanchez is joining us. alarm bells are going off as the president is attempting to actually overturn, railroad the results of this election. what are we learning about this extraordinary move by president trump, reaching out to republican state lawmakers in michigan? >> reporter: yeah. to call it unprecedented is really an understatement, wolf. cnn has learned that the president reached out to two members of the wayne county board of canvassers. tuesday night, these two republicans objected to certifying the results in wayne county for joe biden, they ultimately relented and certified the resul

rolling out a list of economic picks, including janet yellen is expected to be the next treasury secretary of the united statesonfirmed, again, that would be historic. she would be the first woman to run that agency. but she also has to juggle a few competing things if she gets there after a senate confirmation. the fact there are a lot of progressives who are supportive of her nomination right now, but at the same time, on the back end, they are going to want to see a treasury department and an economic policy out of this group that tackles things like the racial wealth gap, the wealth gap more broadly across the country. that's something that was a key issue in this democratic primary that many progressives are still hoping to see rectified. but then she's also going to have to deal with the recession that we're currently in and some economists looking forward to maybe we'll see a double-dip recession in the early part of next year. all of that linked with combating the coronavirus which, of course, is the focus for this group of people 50-some odd days out before they take power in washington, d.c. >> and y

we already know that janet yellen is likely to be announced as the next treasury secretary of the united states. the fact national security is the first pillar does, in fact, jibe with things we've heard with joe biden on the campaign trail, promising to re-enter america into its former status and role on the world stage. also remember that the pandemic response is a national security issue. it is the thing that biden has consistently said he wants to prioritize. and the same goes for the economic bucket of nominees that we're going to hear from. these crises on the pandemic and the economic recession are inexstrictably linked for him. that next bucket of nominees is going to be important. i would point out one thing when we talk about things that should be normal to say but aren't, the rebuke of what we've heard from the trump administration was so stark, when you hear these people on the stage speaking about diplomacy, the importance of the intelligence community, that america is a harbor for immigrants, we haven't heard that for a while. >> that is for sure. and i will just say as we close o

ask you about the market response to this fallout, a minor rift between the fed and the treasury in the united statesf this because it may have knocked u.s. futures. comes at an interesting time, just a couple of months before the new administration is scheduled to take over. steven mnuchin and is seeking to get the funds back but there are several issues. one is coming given where we are in the economy, having this backdrop in place is something needed. theprograms healed interruptions in the market that we saw in march. the economy needs to be we away from these measures but now may not be the time. there is still so much uncertainty regarding the s spread. it having these backstops withdrawn now is not good news for the markets. now is not the time to be tinkering with this. we will see what the u.s. markets do when they come in for the day. watching fore you in the eu negotiations around brexit? the pound unmoved so far. the pound is holding off an issuehere has been in the negotiations because one of the negotiators has the virus. we expect progress next week. more discussions will take place an

lawyers in the treasury department, also discovered that the state department is actively obstructing information about the murder of jews from making it two intended recipients in the unitedstates. and actively obstructing aid. they go to their boss, the secretary of the treasury, henry morgan, with a report. they call a report on, their words, the acquiescence of this government, in the murder of the jews. the u.s. government. and they asked him to take that information to fdr. morgan does, in this report he, changes the title and closet personal report to the president. but the information here is harrowing. the first line, one of the greatest crimes in history, the slaughter of the jewish people in europe is continuing, unabated. they are asking fdr for a refugee policy. united states government did not have a refugee policy. they take this report to fdr in january, of 1944, until january 22nd of 1944 and he issues an executive order that establishes the war refugee board. the war refugee board is an inter agency effort between the state department, the war department, and the treasury department, and they are charged to rescue jews. as long as it doesn't impede the wa

unite states and that. >> elizabeth warren is interested in being treasury secretary saying we know that washington insiders and their establishment allies already taken to turning over the governing keys to giant corporations and their lobbyists . the exact opposite of what voters wants. they must resist this pressure. but warren comes from a state where the republ republican gov could replace her with the republican watering down democratic numbers in the senat congresswoman marcia fudge want to be the agriculture secretary saying i been loyal to the ticket and i will remain loyal to the ticket. during the primary, biden promised it to diversity. >> my administration is going t look like that. >> my cabinet is going to be made up of men and women of color commit not color bright it's going to be made up of people across-the-board. >> he will likely have a say in who gets picked and he will als steer the as he admits wasn't always perfect for rafiki we didn't get right everything in ebola and we are late on many things and we made some wrong choices. >> one of the advisors has already touted another length

united states would be debt and spending arguments and debates in this building. it's not any different except for the details as to what we do today in washington d.c. are early graham -- treasury secretary wanted all the debt from the states to come to the federal government, and then to use that debt paying it off to bill credit for the yang united states. and not everybody agreed with his plans, so you start seeing division, and that foreign policy questions would arise, britain and france go to war in the 17 nineties. and a lot of americans would feel like we owed france, they helped us in our war we still don't like the british very much, but for george washington the first president the notion the notion of neutrality is preferable. we don't really have any money, we didn't really have a navy at all, and our army was much not much to speak of, so we certainly were not in a position to go and fight a war, certainly not in europe, and probably not fighting our neighbors and british canada. so he's going to present with his cabinet approval, a neutrality proclamation which starts again dividing us into this question of what's -- in the same notion of keeping us out of the wa

that fiscal firepower well as the monetary firepower, and in the united states as well come up with janet yellen coming into the treasury department. we will see some interesting headlines in terms of brexit. that brexit bickering once again as we line up towards the weekend. i want to get you up to speed with what we are looking at in terms of events. is the official start of black friday, the sales event, the kick off to the crucial holiday sales period for retailers. department stores will be hoping that measures will help offset the trend away from brick-and-mortar to online. monday, an unofficial up meeting ahead of the official meeting on tuesday. we've actually got a little bit of weakness in oil on the back of that today. tuesday is day one of testimony from fed chair jay powell and treasury secretary steven mnuchin. haven't been getting on so well of late. that will be absolutely fascinating next week to see how much daylight there will be between the two of them. let's start the conversation off with peter dixon, commerzbank global equities economist. great to catch up with you. just want to start with a basic

the world demands a higher risk premium for lending to the united states in the form of buying treasuryut pressure on congress and the administration. we are not without our own tools in the exercise that says monetary policy. we have some control over our own interest rate environment. david: the federal reserve seems to be sitting on those vigilantes. they don't seem to be doing anything anytime soon. president trump said he would like to pursue further tax cuts. if we have president bynum, he will not pursue that -- president biden, he will not pursue that. we have a president biden and a republican senate? rohit: stasis in a manner of sorts. there are some things that happen automatically under the law. there are tax incentives that expire at the end of this year that are broadly bipartisan the they will desire to extend. there is a 2017 statute that changes at the end of 2021. 2022 to, january tighten up the rules of the interest limitation reduction, that make research more expensive in the united states by requiring it be partially capitalized and amortized. both provisions are a

you saw it bouncing on the announcement of yellen for treasury yesterday, but the deep structures related to the united statesaving the kind of institutions that we use to, or that countries like germany, japan, the nordics, canada do, that is something that we will be living with for a long time. this question yesterday and i'm desperate for your thoughts. a lot of people think the idea of trumpism and america first was in reaction to obama, trying to work with alliances, being tough on china but only with alliances. are we just going back to that? how is this time different? ian: i think a little bit of both. i think obama as president, biden as vice president, were much more law -- multilateral in orientation, they wanted to work with allies, but were also pretty reluctant to deploy american power. signaled with america first very quickly, much ,ore unilateral, transactional and much more willing to deploy american power. by the way, you look at the wins that trump has gotten over the last four years, whether with south korea or the u.s. -mexico-canada agreement, allies front, or and the 5g the new peace d

as not proper focus, but let me be clear, i think the united states has real issues in terms of its trade relations with china. >> expected treasuryry janet yellen there, speaking about various issues including climate, which leads us to our green segment. cranberries today. a staple of giving dinner. productively cold winters, but with climate change giving byes to erratic weather patterns, cranberries and the farmers to nurture them are finding it harder to survive. of the cranberry growers association. you do support 7000 jobs in massachusetts alone, responsible for percent of the crop. tell us how difficult or easy it has been this year things to the pandemic and what type of crop we have. brian: from the pandemic perspective, the impact was fairly minor on the growers, which is the good news. we had a severe drought in massachusetts, which is where most of the cranberries grow, and that caused some major impacts to the crop in the crop is down from the august estimate. as i understand it, because of a delay in the onset of cooler weather, which helps the very turn red, we might see a later picking season. is the upshot that c

united states. they asked for an extension to sell the u.s. operations. the treasury department said yesterday that it wants more clarity of the national security concerns surrounding tiktok. >>> and a new survey shows many americans are ready to travel again, despite the pandemic. 56% of americans plan to leave home during the upcoming thanksgiving holiday, according to trip adviser. and 75% of those who expect to travel plan to drive to their destination. 11% plan to fly and 22% are staying in a hotel or vacation rental to socially distance from loved ones. >> ticket master is working on a plan to keep concertgoers safe. and the idea is being developed. and according to billboard magazine, it would require fans to use their phones to verify vaccination status or negative test results one to three days before a performance. they would be linked to each digital ticket. >>> travel patterns are changing because of the pandemic. and instead of heading to tahoe, more and more people are leaving earlier and staying longer. a company attracts rentalsand the world released n

treasury, he is of the democratic republican side. so the federalist side of the early senate, looking at the strict rules would say he has not lived in the united states the requisite number of years to serve in the senate. so, the senate voted him out. he is later elected to the house of representatives by pennsylvania, but he is rejected from the senate. so naturally the people of pennsylvania want to know why there senator has been kicked out of the senate. so you start getting this growing public feeling, we want to know what is going on when the senate meets here in philadelphia. and the press obviously wants to know what is going on, because they have guys sitting in the balcony watching the house. they want to have guys watching the senate, because that is news. finally, i am sure that the house of representatives are meeting in public going why did those guys upstairs get to meet in private while we have to go in front of all these people? finally after five years of meeting behind closed doors, the senate relents and builds a small balcony and they start to as well meet in public here in philadelphia. again, that's one of those long-standing

united states government. counsel for the united ates government is chief counsel and to permit of justice, treasury and whatt. if i felthat i could with the stroke of a pen make payments toeople i would do so, but the irs, i am a tax administrator the irs is required to follow statutory law. we would like to work with you. >> my time is expired but i ask unanimous consent to put nancy olson's analysis in the record, and without objection serve. >> without objection. >> thank you, mister chairman and with that i would yield back. >> the chair now recognizes the gentleman from pennsylvania ster boyle. >> thank you. i appreciate you having this hearing. one of the benefits of hearings like this is not just the opportunity for members of congress to exercise oversight and take testimony from the witness but also for us to be able to listen to the experiences of other colleagues. i've been on this hearing since the beginning at 10:00 am and i've been struck by just how remarkably similar the experiences of constituents in other districts have been to my own specifically the first reblican member to speak said almo

toeral reserve will be keen keep a cap on treasury yields because there is so much funding that needs to be done by the united statesn orderly market. they are keeping a very big qe bazooka going as well. it is in a lot of people's treasury to keep yields subdued. but whether or not the market listens to them is the big story. that is the biggest risk to equities over the next few weeks. they become unhinged and yields go up too quickly. mliv strategist mark cranfield in singapore with those insights. you can follow the team on mliv go karina:. jill biden is repeating his warning of a dark winter i had if the u.s. coronavirus numbers continue to rise. he is finalizing his coronavirus response team even as a senior republican on the hill says hisident trump is within rights to challenge the vote. possible voting irregularities must be investigated. have the system in place to consider concerns and president trump is 100% within his rights to look into allegations of irregularities and weigh his legal options. karina: more conflict at the white house. president trump has fired his defense secretary via a tweet. resist

or certainty around the politics in the united states and the appointment of janet yellen it seems to treasuryhe markets recent edge higher over recent sessions and we touched all-time highs on the s&p yesterday. dow at 30,000 getting a lot of attention at the white house. cap positivity -- that positivity waning in asia. how will it fair in europe? ♪ the startnute until of cash equities trading this wednesday morning. here are your headlines. global equities are on track for a record month after the s&p hit an all-time high. european futures suggest the optimism -- willuel macron says he start lifting france's lockdown from saturday but angela merkel proposes tightening german measures, setting her up for a fight with regional leaders. hsbc's turnaround picks up speed. -- as speculation grows around a return to dividend payments. the european equity markets about to open up for wednesday's session. i focus on the banking sector as we heard from dani burger. there is the hsbc move, the around hsbc and questions around dividends for european banks. what kind of restrictions will be in place int

alexander hamilton, the treasury secretary wanted all the debt from the states to come from the federal government and then to use that debt paying it off to build credit for the young united states and not everybody agreed and you start tv division in foreign policy questions would arise. britain and france go to war in the 17 nineties and a lot of americans will feel like we owed france. they helped us in our war, we still do not like the british very much but for george washington the first president the notion of neutrality is preferable. we don't really have any money. we did not really have a navy at all in our army was not much to speak of so we certainly were not in a position to go and fight a war. certainly not in europe and probably not even fighting our neighbors and british canada in those days. so he is going to present with his cabinet approval a neutrality proclamation, which starts again dividing us in this question of a week to be doing more with friends? the same notion of keeping us out of war, george washington will spend john j who was at that time our first chief justice of the supreme court, sent him to britain to negotiate a new treaty with the bri

united states of america? fiona: there's a good chance they wouldn't, but there could be worry if there is a fight at the treasury election process becomes more cumbersome. at one point, investors could be worried. what are you expecting from the fed next month? many are saying potentially now, we will see the fed target longer maturities. isn't that yield curve control, just not calling it that? fiona: it is. the fed is going to go through longer-term yields. is yield curve control. investors areg, in front of that also and the u.s. has to show there will be fiscal policy because there is need of fiscal policy for the economy to remain good. it is important this come together because you have the risk of companies going they grow up -- going bankrupt and then financial risks in the market. 1980 was the last time we saw the s&p 500 ricochet like this on the upside. where is the flow of money? is the trajectory flowing into the united states or is it becoming more diversified toward gardenomics? japan and europe? yield asia, the trade that was signed last week is a point that some growth will move to asia in comin

this morning reporting that biden, they say, poised to name janet yellen to be the treasury secretary of the united statestcher what do you think of that? >> i don't think that's necessarily going to happen. it could happen. i think that janet yellen is a very smart economist, was a pretty good chair of the federal reserve. i'm not sure treasury secretary is the optimal job for her given her -- how should i put this, unwillingness to engage in sort of normal political activities you know, powell has proven himself to be very adept at the politics of the fed, yellen less so, whether or not she could have done better remains to be seen i think there are other candidates that fit that bill. i think brainard is among those who i understand that they're looking at, though i don't know that any decision has been made. >> steve, thank you. we'll check in with you again soon >> pleasure, becky. >>> in the meantime, joining us to talk about what the business world can expect from a joe biden administration is libby cantrill, the u.s. head of public policy at pimco, and you know, conventional wisdom at this point i

there's a lift in treasury yields, up about three basis points in about an hour and 30 minutes. we get pmi in the united stateswhat is it looking at given the downside to prices we've had so far? tom: i'm not a fan of pmi data, but i do take your point that right now, pmi data is important. right now, isaac boltansky with us. you heard the senator from minnesota trying to manage the story forward. , if we were to have meetings of a biden adminstration transitioning, and republicans in the senate, what moves the needle are disaffected republicans. are they out there. isaac: i think that there are undoubtedly republicans who truly believe that the president should avail himself fully of the legal system in front of him. is i believe the reality right now, the president is seeking salvation through litigation, and they're just has been no sign whatsoever that any of those attempts will shift the outcome in a single state, let alone the entire electoral college. but we have seen over the weekend is a slow but steady stream of republicans saying either that the president-elect should begin getting these security br

treasury. she does have a daunting task, we need to get the united states economy back on track.ask and she's going to have to work really hard to get congress to help her out on this. would you encourage the president to get congress to pass some kind of stimulus bill in the next few weeks? i would love to see a stimulus bill passed right now. this is of that time is of the essence, every day because by this task harder and in fa ct because by this task harder and in fact get dramatically harder as we get into next year. we got certain benefits, and employment benefits for those but unfortunately have lost theirjob due to the pandemic, that have run out at the end this year. it would be unfortunate to see those people lose those benefits, we should get congress back into session now, we should get them to pass a stimulus package this year is that those benefits can continue into next year. that would give the new administration an easierjob, still going to be very difficult, but an easierjob at stimulating the economy going forward. there's an impression at the moment that the t

united states. the dow and the s. and p. are down for the week while that tech heavy nasdaq is up surging. kovan $1000.00 cases are really affecting markets. despite treasury. secretary stephen mayne, restarting stimulus talks. the move to cut fed funding is really hurting sentiment . finally, we're going to finish off in canada where the ts x. is up for the week. but that surge in coburn 1000 cases. oil stocks fall at the end of the week. in the coming weeks, we are going to continue to closely monitor stimulus measures. case numbers and even vaccine related developments that is your global market walk. us treasury secretary steven chu, chin is getting some heat after announcing plans to end some emergency fed funds, but nugent defended his decision to end these crisis lending tools in an interview with c. and b. . c. newton said it. we said these are emergency tools and when the emergency is over, let's put them away. he also said he plans to continue stimulus talks and negotiations with democrats in the coming weeks. for more on this, we're joined by bill frist christie, treasury secretary, will essentially allow several of these emergency lending progr

with any cabinet person, especially someone like treasury, is when people know that that person has the ear and is close to the president of the united statesvery clear with janet yellen and president-elect biden. >> that's a very good point. bill daly, good to have you. happy thanksgiving. >> same to you. thanks very much. good luck with your turkey. >> i need it. thank you. >>> jim? >> good to have the view from the inside. hotel workers are still struggling to make ends meet due to the ongoing pandemic but they are hopeful the vaccine and more federal aid will help. let's take care of each other ...do a little more good. that's what we want at unitedhealthcare. it's why we have dual complete, a plan for people with medicare and medicaid. dual complete lets you keep your current benefits and gives you even more coverage at no extra cost. call unitedhealthcare today to learn about the extra benefits you could get. what do we mean by "extra benefits?" most plans give you over $600 in credits to shop for approved health items, and up to <$50> a month for healthy foods. you'll also get <$0> copays on any drug that's covered, plus, more dental

congress so no more steven mnuchin of the treasury department negotiating in late night calls to nancy pelosi. hands off now from the president of the united states on stimulus. what do you think? are we ever going to see something and is the second wave market reaction overblown right now? >> first, i think powell is 1,000% right. the market before the election, the market was waiting, listening to every sound bite out of washington, waiting for news on a stimulus package. actually, we believe that the market had a priority list of what it was looking at. it was looking at first the coronavirus itself. then it was looking at the stimulus package. after that, it was trying to judge the economy, where it is now, where it's going, going forward. that leads to corporate earnings and the election was last. as we saw this past week, after the election, the market was looking higher but then when the news came out about having an actual vaccine, we saw the markets shoot up. so you could really see in the market, it did prioritize and it was reacting very very strongly, and now congress has to really come through and provide a stimulus package, help peo

treasury has halted extensions for emergency relief programs were to break that down. but what that could mean for a swift economic recovery, and later tensions continue to rise between the united states and china, as the white house is mulling, new moves against the people's republic. but a pack show today. let's dive right in. and we lead the program with more positive news in the development of a coping. 19 vaccine astra zeneca on monday said late stage trials of its vaccine kemet showed it was 90 percent effective. becoming the 3rd drug maker to report similar results of the drug which is being developed with oxford university has long been seen as one of the top contenders in the vaccine race. now during a video conference call, representatives from astra zeneca and oxford university spoke about distribution and how competition among vaccine developers was actually welcome. and we've always known that we don't need multiple back scenes for the world because no one develops and i will manufacture is going easy enough to cover everywhere. and so having multiple back scenes and basically with different manufacturing technologies and technologies that can be manufacturers' globally a

united states. we would anticipate the second quarter of next year to post some positive economic surprises that could well push the 10-year u.s. treasury yield above 1%. of course, another hedge that is often times spoken about when expecting yield increases is the financial sector. francine: nannette, thank you so much, nannette hechler-fayd'herbe from credit suisse. we will get back to men that shortly. now we have a great exclusive interview, because we focus on the world's most important commodity -- oil. opec-plus just ahead is a key meeting, future resistance from the uae and iraq, which are eager to resume oil sales. i am very pleased to be joined by the finance minister of nigeria. he is zainab ahmed. thank you so much for joining us, minister. if you look at gdp growth, of course that growth is the price of oil and the fact that you cannot pump as much as you want to. have you ever considered leaving opec? ahmed: good morning, bloomberg, and thank you. we have not considered leaving opec. we are within the opec community, and we conclude that is certainly engage now, we believe it is the right sector at the right time, and thi

united states. we have got to find a solution. >> to that end, i wonder where this goes from here. i mean, treasuryecretary steve mnuchin has been breaking if the with it federal reserve and choosing not to extend the lending programs beyond the end of this year. here's what he said about that on cnbc. >> on the fed facilities, the $450 billion that congress gave me, it was very clear that the congressional intent is it expires on december of this year. it's very clear in the law. there's $500 billion of money that congress appropriated that is now expiring. we have $130 billion of ppp money sitting around. we need congress to reappropriate these funds. but this was a very simple thing. we're following the intent of congress. >> so we're approaching a series of cliffs in terms of what's available abosent of the bill. a bill is better than no bill. at one point do congressional democrats say we'd rather not keep getting nothing, let's see what we can work out and once joe biden is sworn in, keep working from there? >> joshua, we have been at the forefront, the democrats, of saying the very same thin