banks bought the volcker rule when it was just an idea in the head of paul volcker. they bought it when lawmakers were talking about including it in the dodd frank act. they fought it when regulators were and plummeting it and they fought it ever since it was on the books. trump's election provided an opening. it took a couple years with a couple years with trump as president but they finally got the volcker rule rolled back. david: it is a rollback. it does not take away the basic principle of the volcker act. basically make the bank's drop easier because they can determine whether they are complying or not? jesse: that is how trump's regulators are describing this. this is not a gutting of volker. this is trying to make it clear which trades are banned and which are not. in real-timehat the way they conduct their activity on trading desks was almost impossible to tell -- make those split-second decisions about can i do this for a client or is this going to run afoul of volcker? the point was to go through and cleanse it and make it simpler to comprehend this is an

has adjusted the volcker rule but more importantly what does this mean for consumers for when they were a public citizen when the hand of break down what the rule change means especially in the wake of global rate cuts and finally resolve over to the e.u. where the latest crisis is unfolding in italy as the nation's prime minister has announced his resignation argues alex mahela bichon joins us to give us a look at inside what could be unfolding in the euro zone you've got a poncho today so let's go and dive right in. the ongoing protest movement in hong kong on the prospect of intervention by the central government legal route report today as hong kong's chief executive says she can see a way out of the crisis which now seems headed for a collision with the trade in terror a fight with the united states 1st we go to hong kong for the latest with our 2 star who filed this report. weekend's mostly peaceful protests demonstrators are saying that they're not giving up on their 5 demand they fear their autonomy is shrinking earlier today hong kong's chief executive kerri lam spoke to the pu

vonnie: wall street walks dogs overhauling the volcker rule. a ruling following and occ ruling over the currency is saying it approved the changes. it would mean that pop trading would become easier again. banks would be dependent on self-regulating and proprietary trading. it is one of the top groll -- goals of the truck administration to deregulate the volcker rule. there been complaints that it was too difficult to comply with the volcker rule. it looks like the rebound is taking shape watched wall street delight. cutting interest rates and the u.s. economy is doing well and the central bank should not ease monetary policy again unless it darkens. here is a part of an exclusive conversation. >> forecasters expect we will get reasonable growth of the second half of the year. bond rates are low but it is reflective of the global conditions and global conditions are weak. i am not saying there aren't circumstances i would be willing to ease, i just want to see evidence we are going to something that is more of a slowdown. if i'm growing at 2%,

wall street gears up for volcker 2.0. how the rewrite possible five prop trading rules, and why our next guest says it is too little too late for traders. vonnie: wall street regulators appointed by president trump have unveiled a long-awaited overhaul of the volcker rule, which uses regulation on banks. let's welcome brian chappatta for what it all means. what happened to prop desks when big banks had to comply with volcker? >> it basically vanished, and for good reason. that is what brought -- what brought about the financial crisis. prop trading is still banned in bulk or 2.0, but they have eased the bunch of things, especially around the edges. we are going to find out soon enough was this is implemented, once we see under the hood of the banks, what exactly is going on. prop are some risks that trading could begin to prop up in some corners of the banks. vonnie: do we know if prop trading desks will expand or is this just easing compliance restrictions? brian: as far as we understand it now, trading securities is sti

street years up for volcker 2.0.his is bloomberg. ♪ romaine: time for a look at what stories are trending. big lassquare garden's vegas bet that sent shares falling. disclosed the amount of cost -- the cost overruns in a venue with a construction budget of $1.2 billion in contractor costs estimated at $1.7 billion. today's u.s. lot of apple this u.s. launch -- today's u.s. launch of apple's new credit card. they flushed a deal with uber that would give people -- they launched a deal with uber that would give people cashback. new rules against toxic gender stereotypes. the first two ads banned by were showing the stereotype that men were unable to care for their children, and also showing men as adventurers and women as passive. you can follow the stories of your terminal, bloomberg.com, and tictoc on twitter. taylor: wall street regulators appointed by president trump aitedunveiled a long aw overhaul of the volcker rule. the senior finance writer for bloomberg news joins us now. --ic or real changes today symbolic or

require you to mark them as if they are traded today we're going to consider them subject to the volcker rule restrictions and they took that away what does that mean numerically director marty grunberg enumerated that about half of the speculation assets or half of the assets at f.d.i.c and shared banks more than $600000000000.00 will no longer be subject to the volcker rule they basically will be able to be traded at will with no cops watching whether or not that's that's a problem and could blow holes through the banks capital base right and that member the vote was $3.00 to $1.00 at the f.t.c. and the dissenting vote board member and former f.d.i.c chair martin gruen berg said that under the rule approved today on tuesday he said the vocal rule will no longer impose a meaningful constraint on speculative and proprietary trading by banks and bank holding companies benefiting from a public safety net that sounds pretty serious what's the worst. case scenario of what could happen after this change what's worst case scenarios that can blow through their capital and again capital is simpl

minor sells what was the volcker busy rule why was it so important that it be passed post-crisis and what was the role of that rule in solving this problem of proprietary trading that we hear about the 2008 financial crisis took place for a number of reasons but one of them was that large financial institutions made some pretty disastrous that spare stearns went bust because some of the positions on its trading book were found to be far less valuable than bear stearns had represented to the public did a layman brothers even after the financial crash j.p. morgan self professed best managed bank in the world lost something like $6000000000.00 when a couple of guys made a bad bet so the financial crisis crash and banking stability generally can be jeopardized when proprietary trading that's the speculation that takes place goes awry section $619.00 of the 2010 dodd frank law known as the volcker rule after the former federal reserve chairman basically says don't trade with the positives money it has a bunch of exceptions those exceptions are the problem what happened today and will happ

coming up, risks to volcker rule 2.0.t rating agencies say it could have a negative effect on banks. if you have a bloomberg terminal, check out tv . watch us online, check out our charts and graphics, interact with us directly. this is bloomberg. ♪ viviana: this is "bloomberg daybreak." coming up in the next hour, globalne mann, citi chief economist. this is "bloomberg daybreak." struggling pizza chain papa john's named a fast food executive is its new ceo. it is the biggest shakeup since -- for theareholder first time, a 73 seven max customer has reportedly sued boeing. it once $150 million in damages. no response yet from boeing. he's been described as a landmark figure in automotive history. the grandson of the designer of the volkswagen beetle has died. he turned vw into the world's largest automaker and was influential in the design of the the porsche 911. he was 82. i'm viviana hurtado. that is your bloomberg business flash. alix: thanks so much. we turn now to wall street beat, where we cover three things wall

first up, volcker rule overhaul.rough regulators are set to rewrite the volcker rule on trading restrictions. then, banks are looking for job seekers with expertise in the field of machine learning and ai. and fake china accounts targeting hong kong come about twitter and facebook say they found and deleted hundreds of accounts used to undermine the hong kong protests. david: we welcome now vince cignarella. are we getting too hot on the volcker rule? when it came out it was going to revolutionize all of trading on wall street. did it do that? is it hampering that much now? squash balance sheets. one of the things the volcker muchdid, they would carry larger balance sheets to accommodate customers, to trade on a prop basis. when the rule to men, that strength balance sheets considerably. if you are holding abc bonds and someone else issues, you kind of have to sell those off to take on that other inventory. david: what happened to the liquidity debate? these days we don't have as much because we don't have our own ac

op-ed,ll street journal janet yellen, ben bernanke, alan greenspan, and paul volcker commented on president trump's recent attacks on the central bank. they say the chair must be able to act independently. president trump has delivered his most forceful condemnation of racism and white supremacy. this following the mass shootings this weekend that killed over 30 people. the president did call for new restrictions on gun ownership -- did not call for new restrictions on gun ownership. that thet recognize internet has provided a dangerous avenue to radicalized, performedminds and demented acts. we must shine light on the dark recesses of the internet and stop mass murders before they start. prime minister boris johnson's opponents are heartening plans to stop a no deal brexit. jeremy corbyn is signaling he will call a vote of no-confidence next month. mp saysbel to worry there is a growing number of hardrvatives against the brexit. china has reiterated its support for carrie lam as the financial hub cleaned up after a day of traffic chaos and more violence. according to the people's daily, ch

they've unveiled long-waited the volcker rule.s tryingore or to make it clear what trades are and which trades are not banned. banks claim in realtime activity on trading, it's almost impossible to tell make those decisions about okay, can i do this for our runnt or is this going to afoul of volcker. the point was to go through and muchs it and make it simpler top comprehend. trade. not permitted that said, one of the democratic fdic members of the blasted the effort today. he warned that we're going to go the banking quasi hedge before the crises. >> bloomberg has learned that ramo -- at the world's biggest initial public offering. where do you think they are on the path? run of this.d >> this is the world biggest much anticipated. like you pointed out, aramco has ed moleis and lizard. sort of manage expectations evaluation.o's interesting parts, lizard did in 2016e the cut back when aramco was planning to list. has lizard butse hassar now it has. a pretty good situation. >> aramco spun out -- announced today $7.6 billion deal. c

and there was an open letter in the wall street to join the phone from 4 former fed chairman paul volcker he actually was the fed chair under jimmy carter and reagan then old so alan greenspan burned bernanke and janet yellen they don't and they did not directly name us president donald trump but they said overall that it's not a good idea either to really. give react on politics from washington that this actually could worsen the situation so even if they did not name donald trump directly it was quite obvious where this letter was addressed to the posture of u.s. president donald trump has again and again criticized his fed chairman. powell even after he and the federal reserve cut interest rates last week for the 1st time since the financial crisis that still was not good enough for u.s. president on from the fed chairs from the past weighing in on the present and carter there and wall street for us thank you monetary policy of course is just one front in the fight between the 2 countries that chinese companies are no longer buying agricultural products from the united states after a r

the volcker rule 2.0. we watched today as the prime minister said that is it. i am gone. what happens next? conte willnister resign tonight. he likely is going to hand his resignation to president mattarella. mattarella has to accept the resignation. tomorrow, likely tomorrow morning, he will start consultation with the party. the, it is in the hand of president. mattarella will have to see if there is a chance to form an alternative majority in the new government. if he does not see those

david: we had a remarkable open letter from the fed -- four former fed chairs, volcker, green spare,ernanke, and yellen saying we must have an independent fed endocrine -- and decrying the president's threats you may remove chair powell as chair. if the fed is paying attention to possible trade disputes, does he have to do something directly because he can do it indirectly? isaac: that is an important point to highlight. my view is not that the fed is moving because of the presidential pressure, the tweets, the jawboning from the white house. that is not why the fed will move. towill move because it has given the fundamental reaction to white house policy regarding trade. that is an important distinction to make. the move is not because of twitter. it is because of the market and economic impact of the actual policy decisions that we've been talking about. david: there has been reporting that the chinese might be trying to wait up president trump, hoping for a democrat. at the same time i've heard some reporting the chinese are getting a strong message that democrats will not be much

peter: what was missed was paul volcker.er was named chair of the fed in august 6 of that very year. the cover date on the magazine was august 13. just as we were writing got, the man who would conquer inflation was taking office. it was the tough recession that wrungically caused that inflation out of the system and set the stage for the stock market recovery. caroline: it is a shame he will not be known for that and forever be tied to the volcker rule. joe: well they are dismantling that. line, in the current environment -- peter: i think you made a good point earlier. in the same way people thought inflation could never be extinguished back then, now they are absolutely conflict -- absolutely convinced deflation is here to stay. and maybe it won't be. caroline: also in this context, a guest at the other day said the bravest thing you could do would be to allow a recession, for central bank somewhere to allow a recession, allow the reset, and the stock market could go off once again. joe: that sounds like andrew mellon, se

taylor: we've been talking about the volcker rule and prop trading ever since 2008. been mixed consensus on do we want more regulation or not. what's been the bank reaction? sonali: banks are pretty thrilled by this. everyone thinks one of the big winners will be goldman sachs because of lighter trading regulations and regulations on principal investment. goldman really preparing to make a kkr type vehicle within goldman sachs. assuming appears to be -- sonali: it could end up in the courts for several years. there are a lot of critics of this rule. believe that it exists in a significant way still. we do see $100 million loss here and there, but still nothing like the multibillion-dollar losses. taylor: generally, what are the regulators saying? sonali: the banks love it, critics hate it. they think the banks are going to dive back into risk. regulators in this administration are ok with this, but they want to get it done before the next election cycle. taylor: that is very true. another story we are taking a look at, blue mountain capital management originally made

. >> this is not a gutting of volcker.ore or less trying to make it clear what trades are banned and which trades are not banned. banks claim in real time the way they conduct activity, it is almost impossible to make those split-second decisions about can ok, can i do this for a client? or is this going to run afoul of volcker? the point of this was to go through and cleanse it and make it simpler to understand, this is an allowed trade, this is not permitted trade. that said, one of the democratic board members of the fdic's blasted the effort today. he basically warned that we were going to go back to the banking quasi hedge fund days we saw before the crisis. >> bloomberg has learned saudi aramco is taking advice on the oil giant for the biggest ipo, aramco slamming a listing as early as next year. where do you think they are on the path? this is the second run. >> this is the world's biggest ipo, very much anticipated eagerly anticipated, and aramco ,, as you pointed out has listed , them to advise it on this ipo. the

the volcker rule could be in for a revamp that would ease post crisis safeguards.eyond brexit. with little time to go what the new rules will be. to in-house trades as money managers seek to cut costs. the logic behind the move. welcome to bloomberg markets rules and returns.

jon: -- paul volcker, ben bernanke and alan greenspan, talking about fed independence.hy you wrote that and what you said. >> well, we're concerned that fed independence is under threat, and all of us feel very strongly that in terms of the u.s. economy performing well and the fed being able to play the most constructive possible role in end suring that that -- in insuring that that the, it's very important that the fed be able to make decisions in an independent way that's not color by politics or political pressure. and all of us have had the experience of being able to make decisions in an environment where sometimes one has to make as a fed chair decisions that are the unpopular or difficult in the best interest of the economy. congress has assigned the fed two very important goals; maximum employment and low inflation or price stability. all four of us have done our very best to try to pursue those objectives, and we've been able to do so and gain the confidence of markets in the process by explaining what we're doing but also a making the best decisions we can bas

nonetheless, the state department opinion kurt volcker, longtime diplomat, very well regarded, specialrom the u.s., from the state department to the ukrainian peace talks with russia, to the except that there are such peace talks, and he was the one who -- at least one of the folks who was pivotal in helping to arrange this communication between rudy giuliani and this close aide to the new president. interestingly rudy giuliani said he briefed the state department on all of the conversations with this ukrainian aide so it's not like the state department set it up and washed their hands of it. in fact this is a real ongoing concern as rudy suggested in that clip, even though it's from i few months ago, having talked to him recently i can tell you his mindset has not changed. he believes this is a live issue. he's going to continue to pursue. so i asked the state department about this. they said what they're role was, what capacity rudy was acting here. they said talk to the white house. i asked the white house. they said talk to the state department. not a whole lot of answers coming fr

volcker 2.0 is here, looking more like a tweak.e rolled out the changes to the rules and limits banks must follow. wall street lenders have been pushing for some updates for the better part of a decade. there hardly be transformational changes needed to spark a revival. the u.s. economy does not appear to be headed towards a recession according to san francisco fed president mary daly. she wrote that domestic momentum is pointing to continued expansion. her comments echo those from the white house looking to downplay fears of a recession. president trump is canceling his meeting with denmark's leader because she does not want to talk about selling greenland. he tweeted copenhagen has saved a lot of effort by being so direct. she described it as a large real estate deal. denmark's prime minister has ruled out the deal. spider-man's place in the marvel universe is facing a bigger threat of them -- threat than thanos. according to the deadline website, disney wants a 50% share of profits going for the -- forward. sony wants to keep th

janet yellen, ben bernanke, alan greenspan, and paul volcker wrote in the washington journal that theindependently and in the best interest of the economy. ofderique carrier, head investment strategy at rbc wealth management is still with us. president trump does not really need to attack powell and demand interest rate cuts if he just plows on with the trade tensions. that seems to be resulting in lower interest rates already -- anyway. thatrique: that is pushing putting some pressure directly -- that is putting some pressure directly. .75% of interest decline between now and -- between last week and the end of the year. matt: so do you expect the fed acknowledge that they are worried about global growth or continue to acknowledge they are worried about global growth and not still just focused on employment and price increases? frederique: so the slowdown in global growth has been acknowledged. we have increases in tensions between china and the u.s.. there is -- the markets see jerome powell as being hawkish. nine press at his conferences he has had, in seven out of nine of them, on

. >> reporter: we came upon bill volcker from wisconsin, bird watching in the rain forest. the question that no one can answer if this government change in attitude is long term and if it is too little, too late >> for all our sakes, i hope not. >>> a top nasa astronaut is being accused of a cosmic crime. ann mcclain who spent over 200 days in space. accused of hanking into the bank account of her estranged wife while in orbit the two are in the middle of divorce proceedings and a custody battle the accusations may be the first crime committed in space no charges have been filed but its investigators find wrongdoing, it could be the first time the international space station would become a crime scene. we're joined now by nbc kristen dahlgren good morning. >> good morning, guys. the accusation is identity theft but where it allegedly took place that has people talking and this morning the astronaut at the center of the controversy is speaking out. astronaut ann mcclain spent 204 days in space orbiting the earth more than 300 times. but what she allegedly accessed while up t

i was thanks to paul volcker who in 1980 you know started to you know stuffed out inflation with a huge surge in interest rates and it's been basically easy street ever since easy money has resulted in many things and we're going to go over that in a moment you and i witnessed some of it into troy where we were last week where you could see former greatness former beautiful buildings abandoned industry abandoned creation of wealth abandoned because.

. >> reporter: we came upon bill volcker from wisconsin, bird watchic -- watching in the rain forest today. >> my real concern is i'm not down here just to see this before it's gone. >> reporter: the question that no one can answer is if this government change in attitude is long term and if it is too little too late. kate? >> kerry sanders in brazil for us, thanks. >>> back in this country, a los angeles county sheriff's deputy is in big trouble tonight. the deputy claimed this week he was shot by a sniper, setting off a massive manhunt for the shooter. now police say it was all a hoax. blayne alexander has that. >> reporter: angel reynosa was frantic. >> i don't know where the shots came from. >> reporter: the call, he was under fire, a sniper, he said, taking aim from this apartment building. >> taking a shot to the north of lancaster, hit me in the right shoulder. >> reporter: officers descended in full squat gear locking down the apartment building and a school. deputy reynosa was rushed to the hospital. >> he was wearing a vest, which saved his life, but the bullet did deflect

i was thanks to paul volcker who in 1980 you know started to you know stuffed out inflation with a huge surge in interest rates and it's been basically easy street ever since easy money has resulted in many things and we're going to go over that in a moment you and i witnessed some of it into troy where we were last week where you could see former greatness former beautiful buildings abandoned industry abandoned creation of wealth abandoned because you know you and i can remember our childhood and any. you know any person entering the market since then well thank god it must been horrible back then right but our parents had amazing jobs they got paid well we they were able to own a home and buy a home with one income that there were you know more community more university didn't cost your life you know so here we've had this rolling over of debt over and over all the way down as we talked in the last episode there's been an ever declining utility of debt part of this has been that we need more and more debt in order to grow this fake economy this economy.

i see it as a just in the volcker rule but more importantly what does this mean for consumers carla naylorpublic citizen one to handle breakdown what the rule change means especially in the wake of global rate cuts then finally we hop over to the e.u. where the latest crisis is unfolding in italy as the nation's prime minister has announced his resignation are g.'s alex mahela bichon joins us to give us a look at inside what could be unfolding in the euro zone you've got a poncho days let's go and dive right in. the ongoing protest movement in hong kong in the prospect of intervention by the central government legal route report today as hong kong's chief executive says she can see a way out of the crisis which now seems headed for a collision with the trade in terror a fight with the united states 1st we go to hong kong for the latest with our team . who filed this report. for this weekend's mostly peaceful protests demonstrators are saying that they're not giving up on their 5 demand they fear their economy is shrinking earlier today hong kong's chief executive kerri lam spoke to the pub

janet yellen, ben bernanke, alan greenspan, paul volcker commenting on president trump's latest commente central bank and say the fed and its chairman must be able to act independently and free from the threat of removal or the motion for political reasons. president trump delivering his most forceful condemnation of racism and white supremacy following the mass shootings over the weekend that killed more than 30 people but the president did not call for new restrictions on gun ownership. he blamed the attacks on mental illness and cultural depictions of violence. it has been six weeks since he took his first historic steps into north korea and spoke with kim jong-un and they appear on the verge of collapse with north korea threatening to take what i called a new road in negotiations if washington does not compromise. this was after north korea conducted its fourth short range missile test in two weeks. president trump pressuring nicolas maduro, freezing venezuela's assets in the u.s. and adding immigration restrictions, the move putting venezuela on the same footing as countries such a

i was thanks to paul volcker who in 1980 you know started to you know stuff about inflation with a huge surge in interest rates and it's been basically easy street ever since easy money has resulted in many things and we're going to go over that in a moment you and i witnessed some of it in detroit where we were last week where you could see former greatness former beautiful buildings abandoned industry abandoned creation of wealth abandoned because you know you and i can remember a childhood. any you know any person entering the market since then well thank god it must been horrible back then right but our parents had amazing jobs they got paid well we they were able to own a home and buy a home with one income that they were you know more community. morse university didn't cost your life you know so here we've had this rolling over of debt over and over all the way down as we talked in the last episode there's been an ever declining utility of debt part of this has been that we need more and more debt in order to grow this fake economy this economy because remember if you look around

>> rick, we're getting news on volcker rule, dominic has more on that. >> carl, what we have is fdic, rule changes to the volcker rule that the clarify rules on what banks can or can't do with regard to using their own money for investment purposes. in this care here fdic has approved changes that will allow banks to use their own capital to facilitate client krads ottr principal market or marketing opportunities, it will look like those trades will happen another version was already signed off on by the office of comptroller earlier this morning. two agencies there, five in total have to approve these particular changes to happen the federal reserve, the ftc, cfdc those three agencies have yet to sign automotive on this. in total, this could be a big change in the way banks use their own money to take positions on behalf of clients and facilitate client transactions we'll keep an eye on developments here but for now back to you guys. >> they had been complaining, dom, for time unclear to them, subjective, unclear overall. the rule was preventing them from doing so. interesting, no re

window volcker came in, he was fighting inflation.we have the most hawkish central bank in the u.s. the dollar has depreciated by 50% in nominal terms in the last handful of years. the non-energy trade balance is deteriorating. that happened in the early 1980's, they had very hawkish policies, the dollar was soaring, it had doubled. this is not on the order of magnitude that it is the same thing where everything looks they are balancing the economy in all likelihood, and they will end up getting dragged to the market. what is going on in a place like australia, where the economy is not doing badly but they would like it to do better, their following the market lower in terms of rates. shery: what does that mean for this week? will we see the curve flattening even more given the traders will have to pare back some of the citations for rate cuts? robert: i think it's possible. i think he will introduce their review of inflation targeting is bringing them to something where they will go with a more dovish tac k. inflation has been missin

the volcker rule could be in for eminent rush to ease takeovers.h little time to the extend the deadline. what will the new rules be? outsourcing could mean the death in-house trading. we will look into the logic. welcome to "bloomberg markets:

of control carter was more interested to rain that in through limiting the money supply and paul volcker at the fed kennedy was much more interested in government spending to mitigate the impacts on the working class those are the two biggest policy differences thank you to the panel. thank you for coming by the books you will learn a lot. read and be skeptical. [applause] you are all part of a cohort of people that fight what people are trying to force on us. thank you. [applause] [inaudible conversations] >> good afternoon with the massachusetts historical society and so happy

. >> this is not a gutting of volcker.trying to make it clear what traits are -- trades are banned and which are not banned. thing claim in real time the way they conduct activity, it is almost impossible to make those split-second decisions about can i do this for clients? the point of this was to go through and cleanse it and make it simpler to understand this is , an allowed trade, this is not permitted trade. said, one of the democratic board members of the fdic's blasted the effort today. he warned that we were going to go back to the banking because days we sawge fund before the crisis. >> bloomberg has learned saudi aramco is taking advice on the oil giant for the biggest ipo, slamming a listing as early as next year. where do you think they are on the path? this is the second run. >> this is the world's biggest ipo, eagerly anticipated, and aramco has listed them to advise it on this ipo. they will be playing key roles in the process, including helping enlist underwriters, listing venues, and managing expectations

get over tchlit >> paul volcker has a piece in his own book about the time whe reagan came to him and effectivelye1 pressuredÑihim. it's not that presidents have not pressured fed chairs before, but have they done it so publicly does t("á public nature of it change the dynamic especially when you're trying to inr example or otherwise with other countries? >> since when is the mandated of the fed to discuss politics and trade wars it'sq inflation and employment. all of a sudden 60% of the reason is because of trade wars? >> you don't think the president would like the fed to get in line and help with the trade war? you don't think there's something going on you don't think that's part of the arrangement? you don't think that's what the president wants? i think he's encouraged. he says i want 50 basis points gone off rates he gets results by saying that why stop powell actually acquiesced by saying i did this because of trade wars >> isn't that terrible >> no. it's not terrible. gregg popovich when he gives the nba refs a hard time, should he be thrown out of coaching? that ref should