in the previous quarter, between april and june, the us economy grew 3.1%.re expecting to see a bit of a slowdown and estimate that gross domestic product, or gdp, will be coming in at about 2.5%. two oil companies will be reporting earnings on friday. exxon mobile, the world's largest publicly traded oil producer, is expected to show a rise in profit, while cost—cutting is likely to help chevron also report a jump in profit for the quarter. finally, the pharmaceutical giant merck will be reporting earnings. investors will be on the lookout for information on the sales of its cancer drug keytruda. updates on a cyber security attack that merck said last quarter would likely impact its profits will also be of interest. joining us is james bevan, chief investment officer at ccla investment management the last time we had growth figures, pretty robust, 3.1%. what do we think this time? definitely a slow number, the fed's own numbers suggest 2.7. there are some people expecting a higher number on the back of hurricane interest, leading to faster car sales. better

and they will also be vital to mr trump's plans for the us economy.llen could get another four year term but seems likely to be replaced, so who are the front runners? john taylor is a stanford university economist and always on the list of potential fed chairs but never gets thejob. he's a hawk and thinks interest rates should be much higher than they are. next up isjerome powell — he's a republican, a current member of the fed board, and he has experience in the private sector. but he's voted in favour of post—financial crisis rules that president trump doesn't approve of. and then there's kevin warsh. he's been on the fed board for more than a decade, so he is experienced, but he may want to see too fast a rise in interest rates. i'm joined by simon french, chief economist at the investment bank panmure gordon. good morning. so ben talking through the various candidates, no sign of janet yellen among them. no, the markets have responded well to the four years of janet yellen, if you see the challenge she had on hands, the us economy recovering from

especially through enhanced forward rate guidance and large-scale asset purchases, the us economy has made great strides. what is the appropriate role in unconventional policy tools that we deploy to address the great recession? while i believe influencing short-term misters -- interest rates should continue to be our primary monetary policy lever in normal times greater unconventional policy tools will likely be needed again should some future economic downturn draw short-term interest rates back to their effective lower bound. the empirical analysis suggests that the neutral funds rate to find is the funds rate is neither expansionary nor contractionary when the economy is operating near its potential is much lower than in previous decades. consequently the probability that short-term interest rates may need to be reduced to their effective lower bound at some point is uncomfortably high even in the absence of major financial and economic crisis. i will return to the question about the future of our policy tools but first i would like to review our experience this decade which i vie

it's the us economies who beat out the central bank so if you have inflation 25at 2 or higher eurozone, even japan >> you don't have any sympathy for perhaps a more northern european view that actually we are storing up incredibly large problems that the medicine is having some dreadful side effects as well, and wiping out savers at the same time. >> that is true. i'm not sure i would describe it as the northern european view. looksweden is doing. >> let me paraphrase the german view is that more accurate >> that's probably right i'm from germany -- >> i have sympathy for it. if i have money in germany or money on a global basis are a demographic between 50 and 65. >> the problem is you asked me why there's no inflation the problem is there's a deep recession. it takes stronger economic decisions to generate that inflation. it's not that there won't, i think we have to wait longer but we're getting to the point where you cite potential wage growth in germany, there's strong construction activity going on in frankfurt. if you look at the expectation of attracting workers from the city o

doubling down and talking of solid foundations the federal reserve has released its snapshot of the us economy what's the outlook. well yes then you know i think the most interesting and important thing is definitely at the end flights in and the quite interesting thing about inflation is that even if they break on a me and the tightest labor market in years that a little to move the needle on inflation the fed correctly rice the increase in wages and the cost of materials as modest in this report and no one really seems to know why inflation is just remaining on that low level but the fed two percent inflation target still appears out of rates so the u.s. economy defying expectations but not in the way that they'd like so fishman's campbell street to thank you for that. recent conflict around iraq's oil fields is a fact of the country's ability to take advantage of its resources baghdad hired british oil company b.p. back in twenty thirteen to draw a plan to exploit fields in the north of the country the deal was put on hold that's the chaos of fighting so-called islamic state this week iraq'

miss yellen said she expected the us economy to exceed its long—term trend.rary. tom and is set is expected to step down as the company deals with a widening corruption probe. he told people in germany he would resign if he was no longer pa rt would resign if he was no longer part of the solution. the aircraft manufacturer is under investigation over its use in middlemen play in sales. the air bus ward said last week that it had full confidence in mr enders. here is a look at the markets and asia is in positive territory. positive moves to start the trading week after us equities had a strong retail sales and consumer prices recorded its biggest increase in eight months in september. this look at the markets, particularly australia. we see the all 0rd particularly australia. we see the all0rd and particularly australia. we see the all 0rd and those index is up by 1%, about 17.5 points at this hour. the top stories this hour. flash floods and landslides have killed 60 people in vietnam — a0 more are missing. forecasters say a tropical storm is set to bring mor

over again in the sense that there is this great divide over the prospects of inflation in the us economyi think that will be an overriding concern, and that is one of the key points from last night. i think the feds are going back to data dependent tangent, but if they are focusing on inflation, the next matrix could be affected by the hurricane fallout, especially in perishables and energy markets, so this once again could muddy the entire landscape again and add more confusion. i would entire landscape again and add more confusion. iwould have entire landscape again and add more confusion. i would have preferred them to come out with a more sensible approach and guide them towards this definitive rate hike in 2017. other business news making headlines, the crisis around japanese steel manufacturer is deepening as more car, train and aircraft makers reveal that there are investigating their products. the czechs come company admitted it had altered control data for possibly as long as a decade. the problems are rising. yes, toyota, honda, nissan, all investigating their products for pote

huge benefit to the us economy and that huge liability with massive energy importer has been neutralized. the thing i am struggling with gone the other way and it is a huge asset. the us is a net importer of energy. still one of the largest importers of oil in the world. it will carry on and are most scenarios is an importer of oil to the 2030s or so. i understand why that liability has been neutralized but not sure how this became a big asset and one can get to the world of energy dominance. >> asset in financial terms? >> in the way i use it. >> in a foreign policy context. it is an asset. i understand liability being neutralized but remember, the us is a net importer of energy and will carry on importing oil for many years to come. >> it is true that our imports have gone 60% to 21%. half of those come from other countries. >> that is great. thanks for getting those statistics out there. this gives me an opportunity to elaborate on a point i made quickly before. it is probably fair to say many in the foreign policy committee look at this like do we have a foreign policy cudgel? can we

us? yes. services trade is absolutely crucial to china as it rebalances its economy, so earlier in year, the usion, a probe into china's intellectual property because what has happened us tech firms have struggled to make progress in the chinese market. so donald trump may be perhaps looking for a legislative win before the midterm elections, because policy progress has been somewhat slow, and so on progress has been somewhat slow, and so on the intellectual property side china could make some modest concessions. the elephant in the room is going to be north korea, how does the north korean situation play into trade relationships between the us and china? well, so, i think they both effectively want the status quo with north korea, for the us, imposing more sanctions, would hurt its own economy because north korea trades with about 80 country, the treasury, the us treasury has the power to impose sanctions on any multiculturals or banks that do business in north korea, but that of course would hurt the us economy as much as every other economy. from the north korean perspective, while more sanc

it's not just phones contributing to sound phones bumper profits if we look at the us economy the moment it does seem to be in pretty good shape up until around two thousand and five greek debt levels were basically stable we bring you the stories that are shaping the economic world we live in counting the cost at this time on al-jazeera. one of the world's few remaining calm in the states now us is also one of asia's poorest countries heavily reliant on foreign investment especially from adjacent china but what is our sacrificing in return of a helping hand which john. the golden triangle last. for many years a popular destination for western tourists. but they are no longer the visitors here. the chinese are the most recent foreigners to fall in love with the lazy golden waters of the me home river. in less than a year a brand new city has sprung up on its shores. a chinese enclave in laos interrogatory. it's a city without a man but it does have a casino. he poses tourists and hire a local guide. were the only one left out of. many people come to say. you're smart you know we did ever

it's not just phones contributing to samsung's bumper profits if we look at the us economy the moment it does seem to be in pretty good shape up until around two thousand and five greek debt levels were basically stable we bring you the stories that are shaping the economic world we live in counting the cost on al-jazeera. women around the world are demanding more respect. for the rise of this new feminist as metal backlash the especially in south korea where men's rights groups are enraged that the money. would. go on. and a vicious gender has a ruptured aneurysm part. of that again commentator. i'm steve on this edition of one on one east we explore how massage is leading to murder in south korea. south korea is one of the most developed nations in asia. but beneath this fast paced progressive aside lies a frightening fact that has one of the highest rates of female homicide in the world. last year one brutal murder stood out it was a flashpoint that pushed a deep seated issue to the surface koreas gender inequality. it happened near gangnam station exit number ten in songs busy got

us talk about india. how can india respond to a changing global economy and is the country doing enough to speed up reformues for those at the india economic summit taking place in delhi. devina gupta is there for us. so much to talk about. absolutely. we have been speaking to a lot of indian leaders and global leaders who have made their way to the india economic summit. 0ne who have made their way to the india economic summit. one issue is the cash ban, almost 80% of the currency was declared illegal overnight. the other big reform was of taxation, goods and services, where the government hoped to create a single tax system which has not gone down well with small businesses and exporters suffering, hence the dialogue at the summit is, where is the indian economy going? talking about global turmoil, is india dealing with domestic challenges? india was one of the bright spots in asia, the third largest economy in asia, the third largest economy in asia, but can it sustain itself? the central bank has issued a warning yesterday that it is a slowdown, they have reduced the growth projections to 6.7%. the go

that the us economy grew more than more than expected in the third quarter.ot that size more than one percent helped by big gains in the technology sector. shares of microsoft at the park advanced more than seven percent after it reported further gains from its cloud computing service. an amazon jumps ten percent on strong earnings reports okay you can't thank you very much that was you caruana. at with our business update this hour. we're going to take a short break now but will become will be back with you after the break and to have. some celebration in. salona. also knowing that declaration of independence and he wants to 10/27/17 10/27/17 [captioning made possible by democracy now!] amy: from pacifica, this is dedemocracy now! >> w we are disappointed by what we are seeing. this isn't what we thought we were investing in. what we thought we were investing in was a free, fair society where people could be safe. and south sudan is t the opposie of that. as united nations ambassador nikki haley troubles in africa where 6000 american troops are stationed, we

us an e-mail. in case you're new to the game this is how. the economy is built around. washington washington. business to run this country business if. you must it's not business as usual it's business like it's never been done. with us today here on our team international in afghanistan two suicide bombers and a number of gunman targeted a military base in kandahar province the country's ministry of defense has confirmed forty three afghan soldiers were killed and nine injured with ten militants eliminated afghanistan a base journalist. has details. the ministry of defense has issued a statement saying last night around two fifty attackers targeted a base in the district of maya one killing at least forty three soldiers wounding nine six of them are missing and clearly these sort of attacks or a huge blow to the morale of the afghan national security forces if these attacks are only increasing this is the third attack this week in which the taliban have used onward how vs packing them with explosives and driving them. against major military bases i think what we're seeing is a very deliberate

their former us economy government. is so weak. some of our political approach is just the real world. across the european union nationalist and euro skeptic parties have enjoyed rising support over the past few years in france more in the pan the leader of the national front party was the main rival. in the country's presidential election in germany last month the f.d.a. not only entered parliament for the first time but it became the third largest party in the bundestag and the freedom party in austria recently came third in elections their former czech foreign minister cyril. believes that europe only has a blank. in europe. in the face of the new one we can see euro skeptic forces going to see in salt partly in jeddah many of course in austria this is a massive victory of euro skeptic forces and maybe in the czech republic mr buckbee and his movement under law belongs to the. two d. group of party is who are against caught us within the e.u. war or war. deserve movement which support the very strong send european position. dona

the us economy expanded moderately in september through early october that's according to the u.s. central bank's book report about the economy it comes from talking to business contacts across the country now hurricanes holly and i had a negative effect on the third quarter economic growth the u.s. is reaching the full employment though jobless figures at a ten year low four and a half percent unemployment labor shortages actually were straining business growth now the fed increased its key interest rates last june from one percent to one point two five percent it's on course to raise those interest rates once again in december. let's get to the european football needs now with terry thank you helena it was pretty a sunday night actually in by munich return to winning ways their winning ways and champions league group stage they welcomed celtic to town and while the boisterous away fans took over the city center before the game by and rested back control on the pitch thomas willis smashed home from close range on seventeen minutes before kimmy made it to nil ten minutes later much

picture the signs are everywhere are we nearing the end of capitalism and if so what comes next us economy is richer will. and we might finally have definitive proof that voter suppression won wisconsin for donald trump more on that tonight's politics panel and right now it's lost and. richard smith is officially out as c.e.o. of equifax he resigned today just a few weeks after his company one of the world's largest credit reporting firms revealed that it had suffered a massive security breach that exposed the personal information of one hundred forty three million americans to hackers which raises the question just how did a massive for profit corporation like equifax gain access to something such compromising information without the public's consent and what does this tell us about capitalism joining me now is richard wool visiting professor at the new school cofounder of democracy at work and the author of numerous books including capitalism is crisis deepens essays on the global economic meltdown professor will welcome back. thank you tom glad to be here it's great to have you with us

their former us economy governance and the eurozone is so weak. that some of our political approaches need to adjust the real world. while across the european union euro skeptic parties have recently been gaining support in france marine le pen the leader of the national front party was the main rival to elected president emmanuel mccraw one in germany the f.t. not only entered parliament for the first time but it became the search largest party in the bundestag while the freedom party in austria also came surge in elections there or for my check for mr soros for water thinks the mood is right for us skepticism within the e.u. in europe are all. in the face. we can say euro skeptic forces on the scene so particularly germany of course in austria this is a very massive victory of the euro skeptic forces and maybe in the czech republic mr babbitt and his movement and all the laws to deal. with the. group of participants who are against court us within the e.u. or who. does a movement which some called the very strong send you look in position of. ir

suddenly shot up by 1%, it would affect the borrowing rate mortgages and companies through the us economy nudge theory. and its success. that could be poked theory. we will also talk about how you can baffle the online shopping giants, helping small businesses compete with their bar codes. you're with business live from bbc news. consumer goods giant unilever has just posted its third quarter results. it says sales were up 2.6% in the third quarter, blaming poor weather in europe and natural disasters in the us. it comes on the back of fallout over the dove soap advert. that's one of the many products in the unilever portfolio. jasper lawler is the head of research at london capital group, shares in unilever down 3% this morning. talk is through the numbers and why the markets are not happy. it's really just a and why the markets are not happy. it's reallyjust a reflection of the fa ct it's reallyjust a reflection of the fact that sales have fallen in this last quarter over the previous first six months. with the backdrop of the fallout of the dove advert, there is a sense here that may b

china is the world's second biggest economy and whilst it's still some way behind the united states what happens there matters to all of usis why the words of xi jinping at the opening of the communist party congress are being closely scrutinised. he has pledged to continue reforming china and it's economy over the next five years by opening it up to foreigners and focusing on high quality rather than high—speed economic growth. in the first half of this year the economy grew by 6.9% — that is above the 6.5% the government target and the ruling party are keen to make sure that robust growth continues. when you couple that with population growth of 0.5%, it means living standards are on the rise and that good for the communist party because it helps to ensure political stability. however, there are problems. debt is one of the biggest. it's estimated to be more than two and a half times the size of the entire chinese economy. part of that has been driven by a huge boom in property prices. however, the latest numbers show that slowing in august when the average increase for new homes in 70 major cities was just 0.2%. the id

a lot of what is given used economy for a long time has been a variety of bubbles, whether it was a stock market bubble, tech bubble, housing bubble, a consumer debt and credit bubble. what we want to do is create more of a sustained growth situation than popping from onea bubble to the next because there is risk thatt bubble will pop in the question is how we will do with that. i worry we have a government our public many ways that economy -- the goal here is not to feel the con as much by consumption as it is by investment. that's what a lot of things we want to thinknk about to promote investment, things will enhance productivity will be very important for sustained growth. i worry what people say we just need people spending more to grow thewe economy. a lot of people are overleveraged, so a more come will neverve get the bubbles wil always be part of the country and there willl be ups and downs but a more even keel sustained approach to how we grow the economy would be all of our best interest. >> host: i want to ask you about the debt ceiling. we had congressman boyle on the program

so when the us economy in the late seventy's early eighty's was running really high inflation it was close to you know at some point close to twenty percent the same week at a couple of years ago and that was the point here. was a war hero which was leading the there was a point of time achieved he achieved of course low and stable inflation which led to lower and stable into the space within the weather a ship you'll learn from that cycle so the same is true for russia as we continue the flow and stable inflation in the way and that means that it will flow in stable interest rates which will mean that there will be more room for and then seeing especially on the private economists and if you look at the balance sheet the states we have the three that is extremely low one of the lowest globally if you look at the bow into the process of regulators the figure is the parallels are there but when you look at the ownership of this is the second. if you're question and here of course you should look on the industry by industry because of course the right in this is like for example oil an

galleons moved treasures of the americas, bottom left, the panama can now is the beating heart of the us economyas trade goods flow back and forth and is challenged, it is not geopolitical challenge nation on nation but narcotics, gangs, natural disasters, refugees here as well. all of it leads to significant maritime activity by our coast guard working together with the navy, law enforcement taking the lead. let's go to the top of the world, the arctic, the uss jeanette, bishop sent to the arctic in the 1870s when many cartographers, geographers still had a theory that the top of the world had a hidden temperate zone, just over 100 years ago. the jeanette tried to get through the ice, was frozen in place, many of its crew died. today the arctic is a little less spicy. here is a newsflash. global warming is real. the ice is melting and it is going to open that northern trade route, increase geopolitical competition, uncover hydrocarbons, on one side is russia, on the other side are five nato nations. the arctic has never seen war. it will be our challenge to ensure that we can continue to say th

the us economy is dead because competition is. because free markets are dead because free money is being given to the lords and oligarchs and there is no small to medium enterprise arriving in america to create the jobs and real wages in g.d.p. growth would pay down the debt and or increase success and failure of a thriving economy and we see that in the volatility index. but also. to the ship between. it was just to prove and a fairly strong one there were two thousand. volt in the study it's a very extensive study done by a well respected scientist. do chemicals that down the advertising. really increase the risk of cancer and i chose the means are known to use them in the launch of a shared skepticism they do not believe that risk is seen as truth by independent scientists so did the need industry and you for this i received some compensation for my time as well as you know others why is that the meat lobby definitely do like what we've been doing and if you want to learn more you'll get a definite on the floor you are only her

the dots, the big exporters into the u.k., they need a stronger us economy as well. the u.k. close to them. manus: that's perhaps what theresa may is banking on. the other consideration, of the imf and world bank meetings. unemployment is at a four decade low. he is reinforcing his rhetoric. how far away are you? this is the european market. this is the british market. it's virtually shoo-in in november. he really runs a big risk if he doesn't. he better do it. that impedes all that's in because him? a reliable boyfriend. -- unreliable boyfriend. 25 points panic cut been taken away, make sense. it would have to be really we do really week data this week. it would be a big surprise. he must be frustrated about being called on unreliable boyfriend. i'll be the cast. how that all adds up into picture for november. on the policy extent, it's difficult but not impossible to draw a line between what's happening and another early election. we had five years between the that's between them. them.ween said there's an excellent threat to the u.k. economy. germany is not happy with that.

likely that this is continuously going to be a very much of a top down managed country and economy. and for us there in frankfurt and and praying in singapore with a financial analysis on china thank you. for president she's promise of an open economy sounds nice but what about an open exchange of information internet censorship the so-called great firewall of china is a problem for critical domestic users and a lot of foreign companies and the government is threatening to crack down on begins which tunnel data traffic abroad. i'm calling is a german company that provides data system consultancy to foreign firms with operations in china. the beijing government is now planning to block access to virtual private networks all v.p.n. these encrypted connections that tunnel data traffic to a proxy server. cost just a few euros and have become a critical tool for secure communication between foreign based companies and their headquarters. they're also used by millions of individuals to circumvent china's censorship system. because. most of our clients are very concerned. if not horrified upon it. be

for the for the basin good to speak with you calling for joining us there from portland oregon thank you thank you finally is zambia's economy was built on mining but more than a century later children are feeling the after effects of years of talk since polluting the environment i don't want us to report. in the notice of sunshine meyer looked a little small for his age after blood tests were done a nurse at the clinic gave her the bad news he's suffering from lead poisoning. his condition hasn't changed he sometimes vomits has diarrhea and he's often tired the clinic doesn't have the right drugs last time i got medication for him was in january late is a new a toxin that's particularly dangerous to children they often ingest the poison dust while playing or doing chores a study done by the world back in twenty eleven found that in a fifty communities here led in the soil was about ten times the u.s. safety limit some children haven't been tested so there are no official figures of how many are sick but community leaders say they know decades of mining lead and zinc have left a toxic legacy. very stringent for instance. tha

us. a rise in interest rates next week is looking increasingly likely, after the economy performed betterhan expected between june and september. gdp rose by 0.4%. now on bbc news all the latest business news live from singapore. the us dollar is on the rise, boosted by speculation the federal reserve may get a new caucus chief. let's cross over to thailand where the funeral procession is underway. we are witnesses live pictures inside the grand palace as the funeral proceedings for the late king bhumibol has begun. good morning, asia. hello, world. glad you could join us. anticipation over who might be head of the federal reserve is keeping the us dollar near its three—month high. president trump has not said whether he will reappoint janet yellen, but has floated other possible contenders for the topjob. we floated other possible contenders for the top job. we asked inexpert how this is impacting the markets. you could say there is a lot of speculation over us bank policy. if the federal reserve raise interest rates, but should weaken the asian currencies. we have seen significant decli

use and object to anything that might affect the river ethiopia disagrees most of egypt's nar water originates in ethiopia and it wants the four point eight billion dollar dam to help boost its own economy. well joining us now from portland oregon is calling for and calling is a professor and chair of physical geography at the u.k. based nottingham university thanks very much for being with us calling i want to ask you first of all what do you see as the potential impact of this dam not only on ethiopia but on the downstream countries sudan and egypt the building of a great dam. is bound to have impacts both locally and throughout the the river system it's all one joined up system however the way that it's done and the way that it's built and the way that it's failed in the way that it's managed kind of. massively reduced those impacts and if the addition of another dam to to a river is done in a coordinated fashion with the existing dams and water resource development then actually the addition of a time can be beneficial so it's all in the way that you do it and the way that you operate the time afterwards and is it being done right here is it being done in a coordinated fashion. in t

the us economy is dead because competition is dead because free markets are dead because free money isbeing given to the lords and oligarchs and there is no small to medium enterprise. thriving in america to create the jobs and real wages and g.d.p. growth that would pay down the debt. or increase success and failure of a thriving economy and we see that in the volatility and that. was . by no means was still the problem oh well you know. the name. was a little bit you know it was. the hurricane season hit areas around houston and florida extremely hard this year and caused billions of dollars in damage the devastation seems to be markedly more permanent and serious in puerto rico where not overwhelmed infrastructure and a significantly more complex response has left the island without much of the relief seen in the mainland united states but many of the reasons aren't mere coincidence they're actually part of a much more structural problem with puerto rico's overarching relationship to the rest of the nation so to put it in the tech world's colorful jargon according to many in the pue

use and object to anything that might affect the river ethiopia disagrees most of egypt's nar water originates in ethiopia and it wants the four point eight billion dollar dam to help boost its own economy. well joining us now from portland oregon is calling for and calling is a professor and chair of physical geography at the u.k. based nottingham university thanks very much for being with us calling i want to ask you first of all what do you see as the potential impact of this dam not only on ethiopia but on the downstream countries sudan and egypt the building of a great dam. is bound to have impacts both locally and throughout the the river system it's all one joined up system however the way that it's done the way that it's built in the way that it's failed in the way that it's managed kind of and. massively reduced those impacts and if the addition of another dam to to a river is done in a coordinated fashion with the existing dams and water resource development then actually the addition of a time can be beneficial so it's all in the way that you do it and the way that you operate the time afterwards and is it being done right here is it being done in a coordinated fashion. in th

elected in 2012 and the s&p 500 — considered by some to be a more representative benchmark of the us economyrge hw bush saw in their first six months in office. joining us now from california is mohamed el—erian, chief economic adviser at allianz. is this unprecedented, the state of the american economy and global economy, is donald trump right? what is unprecedented is we have had a significant increase in the stock market, low financial volatility in the context of significant global fluidity. that is what's unprecedented. how do you explain not disconnect? three factors, first the market has responded well to deregulation coming out of the trump administration, and the hope of tax reforms and the hope of infrastructure. second, we are in the midst of coordinated synchronised global pick—up, led by europe and the emerging world that are now healing just like the us has been healing, and third let's not forget there's an enormous amount of liquidity coming into the marketplace every month from central banks to these three things together have disconnected financial markets from the fluidity

our side has been saying consistently said us economy requires the labor of immigrant workers and we should provide an appropriate way for those workers to come into the country, to be here legally and get the rights that they deserve. what i would say is we don't disagree, we are thrilled to hear you say we need these workers come we have been trying to say that for a long time. let's not bring them in and depress the wages of workers that are currently in that industry. this recognizes that what that bill does and it is attempting to set a slightly higher wage except it doesn't achieve the end result it seeks to achieve. >> thank you, that is illuminating. i would like to ask you, this question, so difficult to get people to do these jobs in labor shortages why are we cutting the minimum wage and reducing protections for people to induce them to take the job? >> excellent question. can't remember who spoke to the idea of a free market which has been raised many times by the other side. >> the gentleman from florida. >> strike the last word. >> i would like to yield as much time as

the wider economy -- and remember, inflation is lagging, not a leading indicator. for usare still consistent. the world's economy hasn't looked good -- this good in many years. you have a vibrant recovery. guy: why is the market pricing in a 1.5% fed rate hike? william: there is a number of things in there that people will be a little doubtful about the part of monetary policy from here. guy: muscle memory kicks in at this point. you would be right if you have listened to that little voice on your shoulder. william: probably that for us has to come up a little bit. there is going to be more interest rate hikes than are currently priced in in our opinion. but we have to keep in mind that the path of inflation -- yellen has been clear that the relationship between growth inflation is one that is prone to prediction. we see the labor market hike tightening further and inflation will come certain the economy but we are not expecting anything horrible yet. just that inflation is unlikely to be below target for that much longer. rockeeds to get on to the process of normalizing

will help us bring us to a stronger, healthier economy. this budget the house just passed brings us closer to making that dream a reality. mr. speaker, i appreciate last night. >> good luck with the other career. the 2-year-old strategy. >> you had a bowl, you cut around it? seemed like multiple investigations into elements in the clinton foundation issues, there has in allegations this is an partisan effort, what is your sense of the endgame? related to the dossier issue -- what are you willing to do? of theseint investigations is to find the truth and to make sure that have laws were violated, they are not made again and transparency is what get to that. thorough conduct oversight over the executive branch print that as a important responsibility for congress. we've been asking for documents from the fbi for months. since yesterday morning, the fbi got in touch with us yesterday afternoon and they have informed us that they will comply with and theyents request will provide the documents congress has been asking for by next week. we expec

here with us, rachel campos duffy, juan williams and steve cortez. you show how tax cuts boost the economy, give us some evidence. >> oh, absolutely. by the way, most people when they talk history here and tax cuts they go straight to ronald reagan, he's a great case. i'd like to go further back to john f. kennedy. my irish grandmother on my mother's side she had a picture of jfk on her wall. i think that's mainly because he was irish and catholic and handsome, but i would put a picture of him on the wall because he was a tax cutter. a lot of people don't know that. he was the last democrat who really believed in cutting taxes and what happened, sadly, he didn't live to see a lot of this. but what happened as a result, the economy soared in the mid to late '60s, as did the stock market. so, jfk proves when we cut taxes, we incentivize people and put money in their pockets and empower them. great things happen and prosperity is lifted for all. particularly the middle class. liz: let's not forget at that reagan was irish and handsome, too. >> the evidence is there in the chart, but i will sa

it will help bring us back to a place of confidence, freedom, happiness, a stronger and healthier economy. it brings us closer to making that dream a reality. >> mr. speaker -- what the conference did earlier this week with multiple investigations into the 2016 campaign, there have been allegations that this is a partisan effort to distract. what is your endgame here? you had strong words for the fbi about subpoenas related to the dossier issue? speaker ryan: the point of the investigations is to find the truth and to make sure if laws were violated, that they are not made again. transparency is key in that. conduct full to and thorough oversight over the executive ranch. that is a really important responsibility for congress. this is why we are so frustrating to have learned through the media aspects of this investigation that we have been asking for documents from the fbi for months. since yesterday morning, the fbi got in touch with us yesterday afternoon. they have informed us that they will comply with our document requests and will provide documents congress has been asking for by n

before we get to tax from, something you said in the springtime about your role in relation to the us economy and you are asked about artificial intelligence and automation. you said it is not even on my radar screen. a company you use to work for put out a research paper describing artificial intelligence and automation as apex technology of 21st-century american economy meaning something here and now. did you or have you reevaluated that sense of the importance of automation or artificial intelligence in terms of where the economy is going and how to deal with it? >> i hate to accuse the fake news of doing things but this is one of the times my quote was misrepresented to. they didn't say the entire context. what i said was technology is having a big impact in the workforce. i specifically think robotics, i commented at the time that robotics are an important part of the workforce and that is a positive thing taking over jobs that are not necessarily jobs humans need to do. what i was referring to is artificial intelligence. i specifically referenced r2-d2 for star wars fans out there. it w

reform done, increase people's paychecks, higher wages, faster economic growth which gets us a healthier economy and more jobs. that's what we're excited about and pleased that the senate did the heavy lifting on the first stage. >> are you going to make the case it is not a tax cut for the wealthy? >> that's why we're introducing the fourth bracket so high-income earners do not see a rate cut and that goes to the middle class. about half of the people in this country live paycheck-to-pay check and giving them a brait break on their taxes and giving them some relief, and carving out loopholes that benefit the high income people, the well-connected businesses. but plugging though loopholes you make it fairer and simpler for everybody. we think it is important for the businesses. bring money back from overseas, make the tax rates kpelttive with the rest of the world so you have incentive to stay in america and make things in america. that's the focus of the tax reform. >> the president said that this income tax plan will not benefit his family. he says, believe me, it will now. how can we believe

>> to cover china's economy is so dependent on exports that they are not in an enormously strong position either. i think of china and the uss a bit like dysfunctional marriage. they exchange a lot of these words but they are kinda dependent on each other as well.and it is genuinely hard for an economy like china which has been so long encouraging its exports and having in of this world-class investments driven on the coast and then in economy oriented around that. it is difficult to switch from that to being a domestic spending economy. they leave the factories and become workers or whatever else is needed. and so, china needs the us. they need the demand and the other issue talked about recently is the issue of a new global currency, a new global reserve currency and so forth. it is something the chinese themselves had thought of but china is again, this is kind of the position of weakness or dependence which is that the both of these rest dollars themselves. they're worried about this because that means they think a big hit as well. and it is something that you know there's a shift of currency could have thicker paper co

of the qt is going to be to reduce the growth in credit broadly and credit is the fuel in the us economy's this economy move, not even for we are taking credit out but we are slowing the rate of gain. to slow the speed at which the car moves to extend the analogy. we have already seen, if you look at bank credit, the growth of the credit has collapsed before the fed started doing qt. i expect that number will go negative as the fed shrinks its balance sheet. >> you are making the case why tax cuts are so important especially at the high end of the corporate. we are seeing indications republicans are backing off on key pieces of is to get through. is the problem? >> the proposal sounds great but the final product won't look like proposal. what concerns me is all dispatching of the high end and the idea that one thing we are not going to do is cut taxes on the high end. we will consider raising taxes to pay for the corporate tax cut. problem with all that is corporations never suffered lack of money to increase hiring and. they didn't see the reason because consumer spending has been so far

using energy from renewable energy sources you have. right in the last twenty thirty years global emissions increase every year but in the last three years they've remained flat they didn't increase even door global economy increased why didn't increase because we get more renewables in the system and also use an edge much more efficiently for our cars for the television sets for the industrial sector and we have built into the german and other countries more efficient buildings right i mean you get you here in germany now because you present this energy report together with the german economy and environment minister but it's a place you meant made me all the german policymakers this is a country of diesel gates not very energy efficient what did you discuss i think to be fair germany is on the forefront in the fight against climate change and in terms of energy efficiency it is one of the top countries together with japan and other countries and also in terms of energy germany is pushing the buttons very very hard so directly some challenges such as a deal for the gates and others but john is doing very well in terms of fighting against climate change we'd like to hear that oil executive director of th

if tax reform is to help grow the economy and make us more competitive. that's one thing. if tax reform to alleviate the tax burden on the middle class, that's another thing. it doesn't happen that middle class tax are the most pro growth reform and there's an objective we need to have tax reform that grows the economy and as steve said more of a corporate tax cut or internationally or expensing, but they like to use the talking points of middle class tax cuts and until the politicians are-- and i think this is my whole point overall, they're not willing to make hard choices, they're not willing to level the voters or recognize there are trade-offs and budget constraints. until they're willing to do that and use a set of talking points to kind of paper over the real goals of tax reform which i think are legitimate, there will be a muddied place which are real and honest and probably go more to the capital than they do labor despite what that report said. >> hi, i'm with real clear politics. maya's point how they're not necessarily the most pro growth. will you please addre