you both went to university of michigan. >> go blue. >> go blue, that's right.u did not -- i'm assuming this is the first time you met, is this show. is that -- >> we -- legend has it that we were at a similar event when i went back to -- >> i remember it. he doesn't remember it. it's okay. [ laughter ] >> it's all right. >> it's fine. >> it sounds like i was visiting college again. >> seth: do you remember -- there was a girl there who was talking about watching "gilmore girls" for the third time. >> for the third time, yeah. [ laughter ] might have even been the first time. [ laughter ] >> seth: yeah, it might've been. >> and i said, "talk to me when you've gotten to the 30s --" >> right. >> "-- and we can have a discussion." i've already prepped helen that she will also return to the university of michigan to do some such alumumni thing and they'll all be like, "oh, my gosh. like, the star of 'maybe happy ending,' i love that show." so, get ready, honey, it's happening. [ laughter ] whether you like it or not. >> seth: your parents came to the show. we have a

the university of michigan inflation expectations rose to three point 3% and you actually saw some sorte. you have this thing going forward where we have to think about what the fed does next. the reality is higher interest rates are here to stay which means they work their way into the economy, asset prices have to reflect those, and that is where there are valuations that don't make sense with the 10-year at 4.75. jonathan: where are you finding those, where is that risk more concentrated? brent: more in the s&p 500 where the risk of high valuations is out there. the s&p posted its second 20% plus gain but it was narrow again. less than 30% of the stocks beat the s&p 500 which is the second time. to find similar numbers like that, you have to go back to 1998-199, which scares me a bit. before that, 1973. what ties all that together, it was a later cycle economy that led to bifurcated markets. we think there are ironically opportunities on the others a. the market tends to broaden beyond that. we are positioned more for the broadening because that is where valuations are cheap, even th

he looked at president carter in the eyes, and said, i graduated from the university of michigan. my life and my family's life. by helping eradicate the guinea worm. and i just came back to tell you thank you. president carter leaned over and put his forehead on this man from africa's forehead and they both was bawling and crying. he took his arm and put on his shoulder. they both was covering each other and crying. i can only imagine the love that president carter felt, it reminded me when jesus said, wasn't there 10 leppers that i healed? but only one came back to say thank you. you see, to know j.c., it wasn't all about the thank you. it was the fact that he made a difference in one person's life. not self but country. not self, but country. don't let his legacy die. don't let this nation die. let faith and hope be our guardians. god bless you. ♪ >> ♪ blessed be the tie that binds our hearts in christian love the fellowship of kindred minds is like to that above we share our mutual woes our mutual burdens bear and often for each other flows the sympathizing tear when we are cal

first, she got a degree in chemistry at what is now the university of utah, and then she got a degree in medicine from the university of michigan. she was the only woman. her class of 75. and even though she was forced to sit separately from the men. she persevered nonetheless. and then after she got her m.d., if that wasn't enough, she back to get a third degree. this time in public speaking. she wanted to speak about her, and she became indeed a bold and inspiring orator. so much so that she spoke in her state and around country. and even before the house right here in washington. she to the house judiciary committee for, the cause of women's rights and women's. and after one of her famous speeches concerning suffrage at the chicago world's fair in may of 1893, the chicago record said this about her, quote mrs. dr. martha hughes. is considered one of the brightest exponents of the women's cause in the united states. pretty high praise her position gave her gave rise to her popularity within utah territory where she became the first female state senator anywhere in the country. and that's an amazing feat. she served to a term

he looked president carter in the eyes and said irk graduated from the university of michigan.y life and my family's life. by helping eradicate the guinea worm. ened i just came back to tell you thank you. president carter leaned over and put his forehead on this man from africa's forehead and they both was bawling and crying. he took his arm and put on his shoulder. they both was covering each other and crying. i can only imagine the love that president carter felt, it reminded me when jesus said, wasn't there 10 leppers that i healed? but only one came back to say thank you. you see, to know j.c., it wasn't all about the thank you. it was the fact that he made a difference in one person's life. not self but country. not self, but country. don't let his legacy die. don't let this nation die. let faith and hope be our guardians. god bless you. ♪ ♪ blessed be the tie that binds our hearts in christian love the fellowship of kindred minds is like to that above we share our mutual woes our mutual burdens bear and often for each other flows the sympathizing tear when we are called

at the university of michigan, a special research area has been dedicated to a particular species of floss, edits, intelligent behavior. the, it's the paper was it builds its nests from wood fibers, which it mixes with its own saliva to form a solid paste. when it tries, it turns into a very hard building material. the special thing about paper was, is that each one has a different face. know to have the same color and texture. the the elizabeth tibbets has been researching paper was for over 20 years, compared to bees. paper was so or less organized. their colonies resembled more of a loosely organized roommate, arrangement than a superstructure behind the . this could have something to do with the fact that their faces are so different and that they can recognize each other. this would suggest there is a separate area in the brain for visual recognition and memory. previously, the only in sex known to have this capacity for bes. so you can see some was yellow, i wrote some lost stone, some, some little black spots in the middle of their face. and other was these are all the same sp

joining us now is the law professor at the university of michigan law school. it is very good to see you. did you have it on your bingo card that we would get this today? >> i did not see this coming at all. maybe we reacted about this a little bit. donald trump wanted to dismiss this case altogether. and the judge over the past several weeks was obviously working very carefully on this 18 page opinion. i'm sure there are trump critics and supporters that will find this unsatisfactory. but the judge said was important for him to do was to balance the repeating factors. one, the president's ability to do his job in his upcoming term, two, to uphold the rule of law and three, as you read, deferring to the sanctity of the jury verdict. so the judge thought that, yes, the conviction stands but let it be known pretty clearly that he does not plan to sentence donald trump to prison time. >> the order seems to indicate that there will not be jail time. this is what he wrote, "well this court as a matter of law must not make any determination on sentencing prior to giv

. >> i think the word of the day is the university of michigan or umich as we call it. piece of data got under the skin of the market on friday. it was a huge spike in the long run expectations from 2.8% to 3.5%. it is generally revised down. that has the market very nervous. we're not seeing that in the price action. we're seeing that as a scare. meaning people don't think inflation expectations are doing that, but the reason why the fed is going to be a little more stubborn in terms of its rate moves in 2025. that's just got people pricing in a mistake more aggressively. i think that's how i'm going with it. that piece of data to me is the word of the day. the thick ng that got the marke rattled. >> david zervos. thank you. >>> here's what to watch in the week ahead. earnings season ramping um.p. we get results from united health. we get the fed beige book. storm is the earliest day. jpmorgan with the health hannah gutierrez-reed healthcare conference. a ban on tiktok to take effect here in the u.s. >>> one more quick of futures. the dow would open 160 points lower. t

the university of michigan's 10:00 a.m. survey. showed inflation jumped to highest level of t, up to 3.5%. similar to and despite this one- two data punch. my next guest says she is still expecting to rate cuts. joining me now is diane swan. welcome to you both. diane, there are some firms. i think bank of america now expects no rate cuts this year. make the case. >> well, i actually can't make a strong case for two rate cuts. we have a couple of scenarios. and one of them only has one rate cut with a very low probability of that actually occurring, depending on the outlook for tariffs. and you're seeing that in consumer reaction to tariffs both in december and early january. as you pointed out, the consumer sentiment sort of expectations of front-running tariffs, which is its own self- fulfilling prophecy. that will push prices up. so that's something we're watching very closely. so it really is dependent on policy, and where we go from here. that said, this was a great employment report that is good. it does contradict some other

not only were jobs hot, look at university of michigan. look at the one year it moved from 2.8 to 3.3, from 3% to 3.3. these are important and it doesn't get lost on many investors. if you look at the curve for the week you could see how it was steepening, steepening, and boom. today things changed. pay attention to the next section of that dynamic. not just 2 and 10, 5 and 30 had a big move. and finally the dollar index. the good news embedded in this story, it is on fire hovering at the best level since the fall of 2022. kelly, back to you. >> thank you very much, rick santelli. >>> coming up, more on the horrible fires in los angeles. what we know and what we don't know about the cause, and who might pay for it all. stay with us. iment help you find and unlock opportunities in the market. e*trade from morgan stanley. ♪♪ with powerful, easy-to-use tools power e*trade makes complex trading easier. react to fast-moving markets with dynamic charting and a futures ladder that lets you place, flatten, or reverse orders so you won't miss an op

campaign trail before he was elected president he was asked by a bunch of students at the university of michigan, what should we do? and he off the cuff said something along the lines upon your willingness to serve overseas rests america's ability to influence and play a part in the world. and so, the service, the willingness to serve is extraordinarily important. i really do want to close where we started, which is noting that this is the week of thanksgiving and this has been extraordinary talk, i think, about oftentimes undersold undervalued mission in the world and profoundly thank you for all that you've done and make sure that all of you are taking this mission out, be it in congress or to your families when you have the conversation later this week. if you could join me in thanking director spahn. [applause] >> i will now note and does not apply to anyone watching online that we have breakfast and can't release that virtually, but please join us for a short reception afterwards and thank you all for making the time today. vete. this is an hour and a half.

campaign trail, before he was elected president, he was asked by a bunch of students at the university of michigan, you know, what shall we do? an off-the-cuff, he said something along the lines of up on your willingness to serve overseas rests america's ability to influence and play a part in the world. so the service, the willingness to serve is extraordinarily important. i really do want to close where we started which is noting that this is a week of thanksgiving and this has been an extra ordinary talk. i think about and oftentimes undersold an undervalued mission that the united states has in the world. i want to thank you for everything you have done and make sure that all of you are taking this message out, be it in congress or to your families when you have the conversation later this week but if you could all join me in thanking the director? [laughter] i will now note, and this does not apply sadly to anyone who is watching online, that we have some breakfast outside. you cannot eat that virtually but please join us for a short reception afterwards and thank you all for making the time

attorney, a law profession nar at the university of michigan law school. barbara, it is very good to see you. did you have it on your bingo card that we would get this from the judge today? >> no, i did not see this coming at all. i think over the holidays we had forgotten about this case a little bit. we saw donald trump wanting to dismiss this case altogether. now they are suggesting maybe that the whole thing is put on hold for the next four years. and the judge obviously over the past several weeks working very carefully on this 18-page opinion. now, i'm sure there are trump critics and trump supporters that find this unsatisfactory. but the judge said what was important for him to do here is to balance three competing factors. one is the president's ability to do his job in his upcoming term. two was to uphold the rule of law. and three was, as you just read there, deferring to the sanctity of the jury verdict. so the judge thought that, yes, the conviction stands. but if we need to sentence donald trump, but he let it be known pretty clearly that he

on wednesday retail sales on thursday, housing starts and building permits on friday, the university of michiganows present electron terrorist threat causing consumer inflation expectations to rise, the highest level since 2008. there are many on wall street is a president trump's agenda is actually anti-inflationary. what is a story on yields, are you worried about the jump at the tenure yield? >> a little bit but not overly so, this is reminding everybody of 2022 when we had a fed that was intent on fighting frankly runaway inflation and yields going higher nobody knew the stopping place back then for either yield or inflation. today is not that problem. we still had disinflation should rethink as a cop on yields in the 475 - 5% range in the tenure and there is a chance that a hike rates but that's a likely proposition at this point the backdrop even though the markets trading like is 2022 the economic is far from it. >> we have a strong consumer and businesses that are putting money hand over fist frankly, margins are expanding we have a massive a.i. tailwind of productivity, something that w

university and its graduate business school and its department of psychology, previously, he taught for a decade at stanford university. morris received his ph.d. in psychology from the university of michigan after earning his undergraduate degrees in cognitive science and english literature at brown university. his research has discovered cultural influences on of cognition, communication, collaboration as well as situation all factors that cue them and social experiences that shift them outside of academia. professor morris advises advises corporations government agencies, ngos and political campaigns about cultural related issues. tonight, he's joined by literary critic, writer, translator liesl salinger to celebrate the release of tribal how to how the cultural instincts divide us can bring us together. so please put your hands together for michael and liesl. thank you. thank you. all for being here. it's really. so. michael, this very exciting. i looked at this book tribe and immediately prepared for, like, anxiety and hatred. and instead found this generous theory. but before i ask you exactly that, i want to ask you, could you tell us a little bit more about yourself, the kind of wo

attorney who is now law professor at the university of michigan. and paul butler, former federal prosecutor who is now a professor at the georgetown university law center. so, barbara, i want to start with you. what do you make of what you've been hearing so far? >> well, jose, a huge part of this strategy by the republican senators clearly, is to put the department of justice and fbi on trial. >> we have heard the words weaponized, politicized again and again and again. >> and pam bondi is agreeing with those things. >> the suggestion that because the justice department charged donald trump with interfering in the january 6th in the election in 2020 and with retaining false documents, that somehow that was all cooked up, baseless, weaponized, politicized. >> i think it is a disgusting display of disinformation. >> and even if they alone don't believe what they're saying, members of the public are watching this, and i worry how many will be believing what they are hearing today. >> there certainly is a perception among many in the united states that

he teaches counterterrorism at the university of michigan. good to see you both. asked frank earlier what about this suspect most surprised him. he pointed both to the suspect's age, to the fact that he had disappeared for a period of time. did not have a significant digital footprint. with the little that we know, what stands out to you? >> well, thanks for having me this evening. based on what's come out about this individual, he seems to fit the very randomized pattern of other individuals we've seen for more than 20 years in the aftermath of 9/11 of people who fall down these sort of rabbit holes of radicalization of americans. there's no profile for this. i looked at this for a long time in my different government positions and we were searching to see if there were some set of common factors or patterns of behavior or things that would help law enforcement and intelligence to sort of get more upstream of this kind of activity to stop threats and despite all of that analysis, we couldn't really, at the end of the day, come up with any grand insights on this.

investigate from utah as an act of terrorism. chavez ali is an associate professor at the university of michigan and they full the f. b. i intelligence official joined stuff and all the in michigan started. you can help you with this on the program. and elio pharmacies were that were in charge of the investigation. and now the f. b, i has taken the lead to fall international view is how does that change come about? i mean, what evidence might that be? or what scenario changes the required sort of a seen the law enforcement agency to be in charge now. and also help me. thanks for having me. and when the f b, i takes over an investigation, it means that there is a federal criminal nexus that allows the fbi, i to use its authorities to operate domestically. so in this particular case, obviously, this was a deliberate criminal act of mass murder. but based on the statements that are now coming out about the perpetrator and the evidence, even the, the early sort of, of a pattern of the evidence of merger looks like an act of terrorism. and so therefore, under federal law, the, the f b i is the lead a

we know the university of michigan, it is covered with politics. they are predicting inflation higher then the bike and prices in 2022 and that expectation is the self-fulfilling prophecy of attention the higher prices. jonathan: the most important data point this month, not payrolls, not cpi, inauguration on january 20. >> that's why i think the market reaction to today will be so interesting. will it be a redux of ppi? all this is a jumping off point for inflation to come. we are more worried about the future. even if you get a number that's in line, you could still have a treasury market that refuses to rally because we care about what happens next. everybody says we need uncertainty to clear up, but who's to say uncertainty won't be sticking around, even after next week? >> the political economy for 2025 is were to be so important and we have seen the play out over the course of the past week. this market just whipsawed by different trades tariff stores coming out. is going to be gradual, narrow, is it going to be blanket? when it's uncertain, y

that inflation expectations like the ones we are siting from the university of michigan but i prefer weight on that. that is a critically important part of trying to figure out is this return of rates to something like what they were from the spring and the renormal, of the yield curve, is that a sign that we are returning to normal or of something else? i think expectations. >> and the data do show that. we have shown that data showing inflation expectations up a fraction of what the ten year is up. you and i -- decades ago. you were a university chicago economist. we -- we met at economics conferences and would walk about the wonkiest possible things so i will continue that tradition. production is higher. does that mean a higher nuetral rate for the fed and how much do you think that along with the demand for capitol along with ai may be responsible for the increase in the long rate? >> it depends if the growth rate increase is permanent or transitory. if it's the latter it doesn't -- if it's permanent for sure it raises the drought growth rate and our star. if this is a front loa

you pointed to the idea that deutsche bank pointed to not necessarily putting aside the university of michiganming from growth, that's positive. small business optimism came out at the highest level going back to 2018. a lot of facets to this. jonathan: self-limiting is a phrase we have heard on repeat. we don't think the yield move has reached the point of becoming self-correcting. to your point, where is it going to be self-limited in the markets? have you seen enough damage the risk yet in the economy? lisa: it goes to the ultimate question, are rates restrictive? matthew luzzetti saying no. they will take a sabbatical this year because this is not showing restrictiveness anywhere. are these rates sustainable? don't buy the dip because it's a new reality of companies -- and companies are doing just fine. jonathan: matthew luzzetti coming up later this morning. the dollar a bit weaker today. euro stronger. euro-dollar this morning, 102.59 , positive by .1%. southern california bracing for another round of dangerous winds as firefighters struggle across the region. winds exceeding 50 miles pe

impacts which is actually why i'm watching this month's consumer sentiment reading from the university of michigan is a little more sensitive to politics and how americans are starting to internalize these potential economic impacts as we get closer and then ultimately start the trump presidency this month. annmarie: we are seeing the sausage making play out in real time. it's clear he wants optionality. yesterday he talked about the fact that maybe he would even be open to two reconciliation bills. and he's potentially going to be meeting with republican senators. what is the big debate right now that is still brewing between the house and senate over how they pass this agenda? >> i was actually talking to one republican strategist yesterday who's advocating for that two bill approach to separate out the priorities when it comes to immigration and energy and then see the tax overhaul for later down the road to republicans could get some early wins. we know that senate majority leader john thune is more inclined that approach because when you look at the sausage making getting done, it is difficul

michigan, where my mom was director of nursing in our small rural hospital. this sparked my lifelong interest in health care. as a 24-year-old grad student at michigan state university, i led an effort to save the county's medical care facility from closure. it was the only nursing home that served low-income seniors at the time. i've never been involved in -- i had never been involved in politics before, but i knew it was wrong to close that facility. we stopped the county board of commissioners from closing this critical service. and i was encouraged to run for county commissioner because i lived in the district of the commissioner who tried to close the nursing home. i ran against him. he called me that young broad. and as they say, the rest is herstory. health care remained a top priority for me from those early days to today. today i'm proud and grateful that more people in america have access to home health care, to hospice services and lower prescription drug prices in part because of my work. medicare and medicaid and community health centers provide stronger foundations for care for millions of americans. i was a new member of the senate finance committee w

our author tonight is, josh cohen, who is a professor of education policy at michigan state university and an author on topics related education, politics, school choice and culture wars in the united states. in addition to all the major academic in his research field, it's popular has appeared in outlets such as the morning news, detroit free press, houston chronicle, new republic and the philadelphia inquirer and washington spectator. he lives in mid-michigan with his family. tonight, he is here to talk about his book, the privateer wars how billionaires created a culture war and sold art school vouchers. so help me welcome beth and josh josh. hello. everyone thank so much for being here. can you hear me okay? yeah. fantastic. hey, so i'm beth lewis and this dr. josh cowen and you so much changing hands for having to c-span talk for being here. that's pretty exciting. and for all of you, thank so much for being here. i'm i think most of us know that arizona is sort of the belly of the beast when it comes to school vouchers nationally and for privatized option. and so it is extremely

michigan live explaining this, evidence from both harvard university and chinese researchers shows the loss ofbbling forests -- carbon dioxide-gobbling forests resulted in a net increase in greenhouse gas emissions. so these are people who believe in the whole climate agenda, making the very valid point that if you cut down a forest to put up a bunch of plastic crap from china which, by the way, can you imagine? it's not recyclable. it's all going to wind up in landfills. you know, and i understand the land owners who get into situations where they get lured because of government subsidies into putting this stuff up. but do you really think that that landowner isn't going to wind up footing the bill for when it comes time the scrap this stuff? rachel: it's also such an eye sore is. i feel the same way, by the way, about the windmills that they have offshore that, by the way, are killing our whales -- charlie: and birds. rachel: they're executing birds all over, they're getting decapitate thed -- charlie: they're bald eagle magnets. rachel: yes, it's atrocious. isn't there something also about

representatives from universities and colleges in michigan, selective local state, national, official, vip guests and smithsonian. the conference encouraged books and examination of first ladies and their importance in the future field of first lady studies. in my own case i benefited from the conference because the national archives was asked to describe where the papers of first ladies were. researchers wanted to know. i was assigned by the archive to do a book on the papers of first ladies in the presidential libraries at the library of congress. so, we did that book and it came out with a introduction by the doctor and prolog. it is now out-of-date. it upheld for awhile. now, we will talk about my part on the conference. i am like a little girl here. i am eager and excited to show you portions of the original conference. first time in 40 years. and, we have cut and fought. i have concentrated on rosalynn and betty ford. a few segments with the children who are incredible. i did not include the press because there just was not time. this will run 17 minutes long. and i really hope you enjoy it. thank you for having this in the ford library and let's run it. [

university if they don't all these bill programs ? >> they don't have a choice. clutch forces getting dominated by ohio, michigan, all of those.s to attract more students who will come. the only way they will do that is students get paid. >> the opportunity for you and the places you are doing this, can you talk about the places you are working on a bid right now ? >> we are talking to a number of universities. for us, universities making 100 million from that. we will buy that, by half of it and end up paying 12 times. universities will get $600 million. that helps them over the next five years to 10 years to compete and build and grow. >> how much do you think of all of this as a venture capital style approach versus a private equity style approach ? >> i think it's very much private equity. >> you don't think there will be a bunch of home runs in here and a bunch of bankruptcies when this is over ? >> no. you are investing in programs that exist. >> on the college sports site. you've got the college piece here, you've got women's sports, sailing and all sorts of things in here. i'm wondering you say to yourself i may strike

michigan. the previous caller asked how many people did not vote. if you go to u.s. news and world report, a story there with data out of the university of florida. how many people did not vote in the election. so the caller and others who might be interested, they say close to 90 million according to this day i stayed out of voting. that is based on population, not necessarily registered voters. there is more there in the u.s. news story if you want to read it for yourself, anybody who might be interested. in this open forum, in oklahoma, republican line. we will hear from jim. hello. caller: yeah, something that is repeated over and over from democrats, which is nothing but a lie and another reason teachers don't want the pledge repeated is when kamala harris talked about democracy. in no way whatsoever is the united states of america a democracy. it is a republic. democracies are mob rule. in a republic, you have your rights regardless of what party or individual is in charge. it is a constant line, mostly from democrats, when they talk about some democracy. it is a republic. host: ok. jim there in oklahoma. this from axios, something to look