ambassador volcker testified so i know he had a very deep rooted skeptical view and my understanding at the time was that even though he agreed in the meeting that we had with him say ok i'll invite him i'll invite him he didn't really want to do it volcker said and that's why the meeting kept getting delayed another relevant set of facts here is the effort of some ukrainian officials to approach president trump's candidacy in the 2016 election some of these ukrainian politicians initially remained in government when presidents alinsky took over witnesses testified that these ukrainian efforts in 2016 color helped president trump viewed ukraine it's also important note that president alinsky was a relatively unknown quantity for u.s. policy makers ambassador evanovich called him an untried politician dr hill testified that there were concerns within the national security council about selenski relationship with igor kohl moyse a controversial oligarch in ukraine although president selenski ran on a reform platform president selenski appointed kohl moyes he's lawyer mr botha on as his

but that didn't bother paul volcker. he really felt that financial innovation in some investors were going. too far. tony: in today's environment -- were going too far. tony: in today's environment, i don't think younger people think of paul volcker in the most positive terms. when using about investment banking and commercial banking and the cycles of investing, a lot of the activities have been constrained, but that was clearly the right thing to do. when we look today at the next crisis, the financial system as a whole is in far better shape as a result of the volcker rule. a lot of the credibility he was able to develop over the many years serve the economy very well and helped provide the strength and conviction to put in place some of the protections that were frankly -- that we are fronting a benefiting from us we confront the next crisis. guy: paul volcker killed inflation. we now have incredibly low inflation. in fact, we are struggling to generate inflation. how do you think we get inflation back into the syste

paul volcker was the last central bank of america to do the job of what the central bank was designed to do take away the punchbowl when the specular friends you got to crazy he was the last to do that since the time we started greenspan they've only had one policy response to every single economic event that ever comes out of the pike and that is to lower rates and print more money that's the only thing they ever do and they don't try to do anything other than that to the they can tell in effect feed their friends billions and billions of free money and interestingly enough every federal reserve chairman sense paul volcker has as far as the physical dimensions he was i think 6 foot for every single one has been progressively shorter with janet yellen being the shortest of all so that's kind of interesting and also in the area of central banks with volcker gone was really the. this idea of kind of price discovery as it relates to markets as well so now we all we have now is we don't have price discovery we have what's called mark to model so usually assets are marked to market to say

a lot of inflation and volatility people didn't know if this was all going to work and then paul volcker came in reasons just raised to 20 percent. incurred the wrath of many bankers the bankers hated him if you ever see a central banker that is hated by bankers then you know they're probably not model of the model coddling them how do you say that we're only coddling ali well you know paul volcker was the last central bank of america to do the job of what the central bank was designed to do. take away the punchbowl when the specular friends you got to crazy he was the last to do that since the time we started greenspan they've only had one policy response to every single economic event that ever comes out of the pike and that is to lower rates and print more money that's the only thing they ever do and they don't try to do anything other than that to the they can tell in effect feed their friends billions and billions of free money and interestingly enough every federal reserve chairman sense paul volcker has as far as the physical dimensions he was i think $6.00 foot for every single o

that led to the volcker rule. paul volcker was 92.bi is calling the shooting at a florida naval base an act of terrorism. a saudi air force officer in the u.s.shot and killed three naval personnel. he was then killed a sheriff's deputy. saudi arabia is promising to cooperate in the investigation. some republicans are calling for the u.s. to temporarily halt training programs involving foreign servicemembers. a volcano eruption on new zealand's white island. . killed at least five people. others are missing, and dozens more injured. about 50 were on the island. many were believed to have been from a cruise ship. white island is about 30 miles off the coast of new zealand's north island. how's investigators make their closing arguments in the democrats' case against president trump, debating how far they want to go in drafting articles of impeachment. judiciary committee chairman jerrold nadler says the president is likely to be accused of abuse of power and obstruction of justice. global news 24 hours a day, on air and on quicktake by

pile which is down golfing all economies everywhere i want to point out another thing about paul volcker that is important to understand and what has changed since him is he said the greatest financial innovation of the past 100 years was the a.t.m. machine so all this crazy financial engineering and we're so fabulous and we deserve to be billionaires for a basic function of utility as a bank you know exchange you know offering loans and and acting as a middleman between the government and the people of the population for the money like. he didn't buy any of that stuff about all of these credit default swaps and derivatives and that it was some high falutin scientific sort of wonderful creation also with paul volcker because you see he wiped out inflation yes during volcker is time which of the seventy's and the economy up until the seventy's in the united states it inflation numbers included wages after a greenspan came on board wages were no longer included if you were looking at inflation because wages were financially engineer and reagan destroyed organized labor with the firing all

volcker.s incredible when you look back at those numbers what he was doing to get inflation under control. do you think that he over did it or in retrospect did it just perfectly? >> i thought he did it just perfectly to be honest, neil. i thought it was great when we came in on january 20, the prime interest rate was 21 or 21.5%, volcker had done a great job of targeting inflation and trying to bring it down i think it was the best single political move that jimmy carter made was to appoint paul volcker. i got involved with paul volcker in 1970-71 when i was in the white house with george schultz as his assistant and at that time paul volcker was under secretary of the treasury and with ehad the camp david episode and paul volcker both opposed going off gold. he was a powerful person at the time but if with ehad done what paul volcker suggested at camp david, we never would have had the run up inflation that ended with jimmy carter and the beginning of reagan but paul volcker is chairman of t

volcker left the fed in 1987.ars after he was so hilast legacy: advising president obama after the 2008 financial crisis, pressing to restrict commercial banks from making risky iestments, a controversial reform known as "the volcker rule." for the newshour this is paul solman. >> woodruff: paul volcker was 92-years-old. still to come on the "newsur," a bluster trove of documents unveils the lies undergirding the war in afghanistan; amy walter and tamara keith on the moves from the democratic campaign trail; and singerlalate songwriters morisette's "jagged little pill," a milestone of '90s rock opens on broadway. >> this is the "pbs newshour" and in the west from the walter cronkite school of journalism at arizona state university. >> woodruff: this is a blockbuster story, the years of several years of reporting and legal pursuit of government documents. for the last 18 years, according to the government reports obtained by "the pos" senior u.s. officis have been misleading the american public fghanistan.ar in a j

on that july 19th meeting between volcker and rudy giuliani, ambassador volcker told mr. giuliani that the allegations about joe biden were completely bogus and wrong and mr. giuliani actually told according to ambassador volcker's testimony, mr. giuliani said he knew that and yet for the next two months, he continued to push for that same investigation at the direction of president trump. who had also directed president zelensky to contact mr. giuliani. so that july 19th meeting he brought up is quite important to this investigation. >> and sir, you already explained that on may 23rd when the official folks who went to the inauguration of president zelensky came back to tell the president how impressed they were, the only thing he had to say to them was talk to rudy. he was taking his official government people responsible for ukraine and handing them over to rudy giuliani so that they could work with him for the issues he was focused on for the president as evidenced in the tweet. >> i agree with mr. castor, at that may 23rd meeting, mr. trump delegated authority over u

volcker on the aforementioned presidential recovery advisory board. remembrances of him? >> well, i did work on that. i mean, he was, as i said, he is as close as economics has ever come to creating a legit superhero. he was a giant of a person 6'8" or 6'9" or something like that i think the main component of the volcker legacy, o r one r of it, is the toughness to face down inflation before that, he'd worked in the treasury when the monetary system internationally was breaking down and the u.s. went off of the gold standard then fast forward to the financial crisis, just before it, he was always a major advocate of being tougher and watchful on financial institutions as he used to say, it's not that the finance are the good guys or the bad guys they're just like everyone else, and they have to be watched. they can't self-regulate they've got to have oversight. >> alan greenspan, he was the most effective chair in the federal reserve. he was a role model for every financial official who followed him. volcker was not immune, has chair powell has not be

that led to the volcker rule which the banks hated. paul volcker was 92 years old. global news, 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. i'm mark crumpton. this is bloomberg. vonnie: and at 6:00 p.m. in hong kong.0 a.m. in i'm a vonnie quinn. welcome to "bloomberg markets." from bloomberg world headquarters, here the top stories from around the world that we are following. we are on the cusp of a busy week with a lot of potential catalysts from the fomc meeting to the looming america-china tariff deadline. plus, the u.s. winter flu season is off to its earliest start in more than 15 years. we will tell you how fact -- how vaccine experts are preparing. brownbrown of bobby cosmetics will join on her latest venture. we also have lots out of washington, d.c. kailey leinz is with us. halfway into the trading day. really range bound. kaylee: we are firmly in the red with the s&p 500 and nasdaq. the dow is in the red by .25%. it is on lighter volume than usual. investors holding back on

they are still talking about the volcker rule.el: dodd-frank is a very big, very broad set of laws and regulations that affect the financial industry. only one of the regulations is named after a person and that is paul volcker. his idea that the wall street trading on its own behalf was not good for the economy and for the financial system that was codified into law. it is being modified now. but it will be forever known as the volcker rule. he did play a role for a long -- barack obama turned to him in 2000 nine when the economy was at its bottom and put him in charge and a committee of ceos and business leaders to give a business perspective on what should be done for the economy. he helped to lead the reforms that were put into place and represented the administration on capitol hill. just the end of a long career that began in 1952 when he became an employee for the first time at the new york fed. kevin: even to follow-up on that, in the current administration, at the beginning of the administration, there were some of the ce

pa volcker left the fed in 1987.as advising president obama after the pressing to restrict commercial banks for making risky investments. a controversial reform known as thvolcker rule. epnie: paul volcker was 92 years old. still to come, on the "newshour" a blockster prove of documents revealed allies undergirding the war in afghanistan. we have the latest moves from the democratic campaign trail morrissette's "jagged little pill," a milestone of 90's rock opens on broadway. from the w eta pbs stuonos in washin judy: today the washington post has a blockbuster story- the results of several years of reporting and legal pursuit of government documents. for the last 18 years. according to the government reports, senior u.s. officials have been mieading the american public abouwar in afghanistan. john yang has the story. reporter: it was called "lesson learned." it was started by a special inspector general. those lessons tell a very different private sry, one of misguided and fatal this function that violently coradict

on behalf of the president according to a news story on november 22nd mr yarm act as the bastard volcker to connect him with mayor giuliani because the selenski team was surprised by the meg by the mayor's negative comments about ukraine they wanted to change his mind both embassador volcker in his deposition and yarm act in august new york times article denied that mayor giuliani was speaking on behalf of president trump as his agent instead as ambassador volcker explained the ukrainian government saw giuliani as a conduit through which they could change the president's mind 2nd allegation at issue of course is whether the president obstructed congressman by not agreeing to all the demands for documents and testimony as somebody with experience with congressional investigations and strongly i strongly believe in congress's article want to thorough. but this impeachment inquiry has departed drastically from past bipartisan precedents for presidential impeachment as well as the fundamental tenets of fair and effective congressional oversight. 1st process matters the bipartisan road you kn

to fight it, volcker raised interest rates. you think today's 1.5% to 1.75% rate should be even lowered further? try 20%. yes, to the fury of both consumers and even ronald reagan, the president he served, volcker hiked rates to a record 20%. but eventually it worked. by 1986, inflation had dropped to 14% -- from 14% to less than 2% and the economy stabilized. in 2010, i had the honor of interviewing paul volcker at stanford university. the housing bubble had burst, the stock market collapsed and the country was in the throes of the great recession. forever the public servant whose integrity never wavered, nor his belief that one must do what's right for the country even if it's unpopular, volcker told me he didn't care that big banks were upset about new regulations. he just didn't want americans brought down again by free-wheeling financials. while he stood, look at him, 6'7," he will forever be taller in our estimation for holding steady through the hurricane of crises and politics. paul volcker was 92 years old. we'll be ri

paul volcker served as federal reserve chair from 1979 to 1987. he accomplished many things during his long and distinguished career at the fed and elsewhere. of course, he is best known for

former federal reserve chairman as died at the age of 92 mr volcker tackled us inflation in the 97 days navies and later lent his name to trademark with forms of wall street headed the u.s. central bank from 979-2987 the grandson of german immigrants was born in cape may new jersey his father says he died from complications related to prostate cancer. the head of the world trade organization has announced the launch of quote intensive political negotiations to salvage the apple a branch of the body's internal court system the. appeals panel sometimes dubbed the court of world trade will no longer have the needed quorum of 3 judges as of midnight on tuesday due to mandatory retirement and the united states has blocked the appointment of new judges accusing the court of serious overreach and breaching u.s. interests the man is not for budging and on left as an 11th hour breakthrough the face of the world trade organization top of course has been sealed the u.s. ambassador to the w t o denis chase says he'll continue to block the appointment of new judges whose job it is to rule on trade d

paul volcker served as federal reserve chair from 1979 to 1987. he accomplished many things during his long and distinguished career at the fed and elsewhere. of course, he is best known for leading the fight to tame the double-digit inflation that he inherited as chair, thus laying the foundation for the prosperity and price stability we enjoy today. but what is perhaps most admirable about him -- more than his many accomplishments-was his character. he believed that there is no higher calling than public service, and he dedicated the lion's share of his life to it. with courage, integrity, and tenacity, he always pursued the policies that he believed would ultimately benefit all americans. my colleagues and i continue to draw inspiration from his example. turning to today's meeting, my colleagues and i decided to leave our policy rate unchanged, after lowering it a total of 3/4 of a percentage point at the previous three meetings. as always, we base our decisions on judgment of how best to achieve the goals congress has given us maximum employme

former fed chairman paul volcker has died at the age of 92.in charge when the fed tamed inflation in the 1980's and led president obama's big to risk-taking at the big banks. for over half a century, volcker became a one-man cleanup crew. a cure for runaway inflation and a response to the housing collapse that triggered financial crisis. hong kong is facing its worst ever economic slump, with thousands of jobs under threat. shops preparing to close down forever. a survey by the retail management association says about a third of respondents are laying off staff, while more than 40% expect to go out of business in six months. months of unrest has pushed hong kong into recession, affecting tourism and hospitality hard. taiwan's exports rose the most in more than a year on higher demand from china, highlighting the status from a crucial chip supplier in the rollout of 5g. outbound shipments climbed 3.3% last month, the fastest pace since october last year. economists had been exciting an increase of about 1%. deliveries in china rose 8% and almos

on that july 19th meeting between ambassador volcker and rudy giuliani ambassador volcker told rudy giuliani that the allegations about joe biden were completely bogus and wrong and mister giuliani said according to ambassador volcker at testimony mister giuliani said he knew that and for the next two months he pushed for the same investigation at the direction of donald trump who had directed president zalinsky to contact mister giuliani so that july 19th meeting is quite is important to this investigation. >> you are he explained on may 23rd when the official folks who went to the inauguration came back to tell the president how impressed they were the only thing he had to say was talk to rudy. he was taking his official government people responsible for ukraine and handing them over to rudy giuliani so they could work with him as evidence in the tweet. >> i agree that is what the evidence showed. at the may 23rd meeting donald trump directed and delegated authority over ukraine matters to ambassador sondland and secretary perry and told him to work with rudy and that is what happened at t

, but so you started with paul volcker. if you look back at 2018, i will just take you back to the beginning of 2018, we had an economy growing at 3%. we had inflation at 2%. and we had a trillion and a half dollars worth of stimulus arriving and the federal funds rate was 1.4%. so it wasn't that -- so we moved policy up during the course of the year. we never got policy even at the level of what we thought the neutral rate was at the time. so there was no sense of it being restrictive. we took steps to make it less accommodative and that seemed to be the right thing. it still seems to me to be the right thing in hindsight. the idea that we were trying to, you know, slow the economy down, we were really just trying to get near neutral and even with the last rate increase a year ago, we were still meaningfully below the median estimate on the committee of what the neutral rate was, so policy was always accommodative during the course of that year. i think what's happened is obviously the facts on the ground have changed. you

a lot of quality to pay homage to paul volcker.ate about speaking of those who follow do you including mr. draghi, and christine lagarde is in frankfurt at the ecb. what is the challenge presented to met on lagarde in europe with -- med down lagarde -- madame lagarde in europe with central banking? jean-claude: she has to cope with all the central banks' problems in the economy -- abnormally low growth, abnormally low inflation, and deflation of having a risk. she has to cope with that in the constituency of the central banks. alsop of that, she has to remain a strong pillar for the european unity endeavor, for the bold endeavor. that proves the essence in the recent crisis, and it is still of the essence. she has experience. she has been minister. she has had the experience of andimf during several years she was reappointed as chair, managing director of the imf. qualities tohe cope with this double challenge. francine: when you look at the divisions within the ecb governing council, does it hurt the transmission mechanism? should

paul volcker sadly passing away a couple of days back.does this business benefit from the volcker rule which he pioneered and pushed through and took his name? it took a lot of regulation on banks. reporter: volker isn't meant to restrict market-making by banks necessarily, but that has been one of the effects. market-making in some ways is a difficult business to define, so a lot of people have said that banks has pulled back because of the volcker rule. nonbanks like citadel securities don't need to worry about it. they've been able to continue trading and take market share from the banks. as ae: it started off high-frequency market maker in options before pushing into equities, and now it literally dominates the realm. it handles more than one out of every five shares traded in the united states. what is the secret to the success? did ken griffin just get in early enough to dominate? reporter: i think the hedge front -- the hedge fund really helps. it allows them to kind of see risk more holistically than some of the traditional market

we have ambassador volcker, ambassador sondland, and secretary perry. you had the opportunity to talk to two of those three people. is that correct? >> yes. >> and the democrats' report would like u these three individuals were engaged in some sort of kabal or some sort of nefarious venture, but that's not true, is it? >> no. >> in fact, these three people were at all relevant times and even today, acting in the best interest of the american people. is that true? >> that's right, and with the highest integrity. >> that's right. i think everyone testified that ambassador volcker is one of the most experienced diplomats in our foreign service. >> across the board, all the witnesses, including ambassador yovanovitch talked about integrity that ambassador volker brings to the table. >> but there's a lot of people with firsthand knowledge that we didn't talk to, is that correct? >> yes. >> now, i want to talk about the president's skepticism of foreign aid. the president is very skeptical of foreign aid. is that correct? >> he is deeply skeptical of sending

. >> paul volcker has died. barack obama's bid to rein in proprietary risk-taking at commercial banks, in what was described as the volcker rule. he passed away yesterday at the age of 92. what did he invent in terms of monetary policy? >> he changed the way the fed went about carrying out monetary policy. instead of targeting interest rates, they targeted the level of money supply which created a whole new class of employees at wall street firms. fed watchers who had to figure out on a week to week basis as best they could where they thought the funds rate would be trading from watching the money supply as well. that was a different way of doing it. it ended of course when volcker left, and they went back to the old system, but that was his contribution to the mechanics of monetary policy. ♪ ♪ >> the bloomberg mliv asset survey is now open. we are looking to see where you think nine different asset classes end up around this time next year. you can visit the website to get your forecast in and put your reputati

first of all, volcker said all along that he didn't think the statement was a good idea. volcker and yar mack toid around with the statement and -- toyed around with the statement and ultimately both sides decided that it wasn't a good plan. so they didn't do it. the fact that sondland is emailing the secretary, talking about this statement and so forth, it's just -- this doesn't show that everyone's in the loop. ambassador hale testified -- people at the state department don't just email the secretary. i mean, the secretary gets email, of course, but it's not like this. there's a whole secretariat that filters his email and so it's not -- emailing the secretary of state is not quite as simple as i think ambassador sondland made it seem here. i just wanted to address that. we talked about the reliability of george kent's notes. one of ambassador volcker's assistants, catherine croft, testified -- rather startling piece of testimony. she was asked whether kent's notes would be reliable. sort of a typical question, everyone expecting the answer to be yes. except she said no

. >>> paul volcker the former chairman of the federal reserve died.of the fed from 1979 to 1987 under former president jimmy carter and ronald reagan. he was best known for raising interest rates to 20%. helped by rampant inflation but also significantly impacted american manufacturing and real estate. still paul volcker was credited with helping to start two decades of economic expansion he would resurface have a present economic following the recession in a statement today former president carter called paul volcker a giant public > for nearly 50 years carol spinney gave byrd his childlike voice and oscar the grouch his growl. the voice actor in puppeteer behind the sesame street care is died yesterday at his home in connecticut. he was 85 years old. spinney voiced and operated the two moppets from their inception in 1969 and performed with them almost exclusively until just a few years ago. >> the child who is eight feet tall or oscar whose about two foot eight and lives in a trashcan. it is so much fun to them. >>> spinney died on the same day tha

we need to take a moment here on the extraordinary set of remembrances of paul volcker.t essay on it. you at goldman sachs, what was it like on a trading desk with 11%, 12% inflation? jim: kind of scared of it. -- you talkalks about fed watching, that is kind of when it started. thursday nights with m2 money supply. remember the likes of lacey hunt? for many months, the guru, being accurate on each week's numbers, and the markets would move like -- tom: because of the money illusion, the lack of theory, is there any comparison with the quietness of now? jim: there were two big reasons why it was such an exciting time to one was the beginning of the attempt to crack the inflation bubble, so it opened up all the -- particularly in the currency huge -- io you get remember in my days in new york, the dollar deutschmark moved by 25 big figures in a day. tom: the lebanese pound was a major thing. you imagine the life of a currency trader today? you would have to catch up on your sleep. thatine: people remember will people remember him for his work on inflation? jim: one of the

i had seven hours with ambassador volcker.nd you can't just take one little sentence out of seven hours and suggest that everything that biden did was correct. he believes that biden was there, working on anti-corruption. i believe that he could be. but at the same time, everybody wants to dismiss it without an investigation. and if that same set of criteria applies to president trump, the democrats would be up in arms. >> so for four years, hunter biden was on the board of burisma, this ukrainian company. you were in the majority in the house. you were on the committee that oversees this. why didn't you investigate it if it was so wrong then? >> one, i didn't know about it at that particular time. and when you look at things, as things come up -- >> but it was public information. >> what was public information? >> that hunter biden was on the board of this company? >> well, i don't know about how. i don't know that any of your viewers go and look through burisma's notice that hunter biden was there. i think all of us can admi

i should also say i'm looking for to the work on the volcker rule. i'm try to get this done and stay within my times on talking fast. on the rewrite, check worlds, is the fed going to play a role in the cra rewrite along with the fdic and the occ? >> we have been very actively engage with the occ and the fdic. >> at the governor level? >> at the governor level absolute we have been actively engaged, and the proposal that is evolving has benefited from a lot of input. >> if you look at that, i don't think that's been touched since about 1977, is that about right? >> about 30 years. >> i was young back then. so hopefully we can take into account this thing the internet has come aboard, , online bankig and a number of other changes in the banking system that hopefully we can modernize and i look forward to what you will do there. chairman mcwilliams, , i wanted to ask you a question come with god, you you in particular tooa fairly aggressive posture in going to look at all the clutter guidances, one offered 52 letters, secret memos, fax that of long bee

volcker, boss, paul just passed away. he was a great man. him in the 1970's. he never used my stuff. [laughter] but he was a brilliant man. he was exactly the right man the company -- country needed to stop inflation. he told me to come work for my boss. i don't think we have much to worry about. do have a problem. the world economy has slumped. let us not forget, some of the incentive oriented supply-side policies that have worked throughout history. namely, lower marginal tax rates. rolling back unnecessary and excessive regulations. and attempts to reduce trade barriers. these are classic incentive oriented policies. my former boss ronald i think that is your problem. the central bank of session is wrong. they ought to look toward progrowth measures and the g7 will be here in the u.s. at cap david. -- camp david. i will run that thing, and we sessions tothose what i call back to basics. we will devote the sessions to the need to restore world economic growth. america, middle east, asia. there are few countries growing. most are not. that is the biggest prob

the giuliani, volcker, sondland draft. burisma. this is the keyword for biden. you can think of burisma as the word biden. it is the company that basically the vice president's son had been on board of and that's the center of the effort to investigate the bidens, which this report alleges was a quid pro quo deal that donald trump wanted to do to help him win re-election. what has been added here in the giuliani edits, which come right after these incriminating contacts with the money office and everything else we mentioned is quote, let's include those involved in burisma and the 2016 elections. this is bad for the white house because this goes beyond what any individual witness has said and we see it up here on the screen on the lower right hand of the screen, you can see a better version of the copy and the understood line in black. >> so giuliani and sondland added this. >> correct. this again goes to did you want to clean up corruption in certain part of the world r or were you going after the bidens and when you had a statement on the left that talked abou

. >> paul volcker has died.federal reserve chairman who backed -- in the 1980's, three decades later led barack obama's bid for proprietary risk-taking. it was known as the volcker rule. he passed away yesterday in new york at the age of 92. what did he invented terms of monetary policy? >> he change the way the federal reserve went out -- carrying out policy. they targeted the level of money supply which created a whole new class of employees that wall street firms. they had to figure out on a weekly basis as best they could rate wouldd's funds be trading just by watching the money supply. that was a different way of doing it, it ended when volker left and they went back to the old system. that was his contribution to the mechanics of monetary policy. ♪ >> the 2020 asset survey is over. we are looking to see where you think different asset classes around this time next year. rosalind: there are about 30,000 -- on the blueberry. we always enjoy showing of our favorites. here's another function, q uic go. that wi

think most of the people that look at inflation are thinking still back to the arthur burns-paul volckerrea of inflation. so much competition out there. back then when they were fighting inflation, when paul volcker was at 10% inflation, there was no internet. you can go around and chop easily for prices. who has pricing power anymore? i talked last week that there is basically one duopoly out there, boeing and airbus. that's it. as far as wages to move their point, they've grown the faste fastest. which people don't point out. the final point i want to make is last i looked, there was like $5 trillion on the sideline so people that were afraid to go into the market, that's the flip side of my fear argument. >> last week 6 billion of it came in. we have to leave it there, merry christmas. we very much appreciated. also that brings chances in 2020 way up, and we will be right back. sweetie! hands off the glass. ugh!! call geico and see how easy saving on homeowners and condo insurance can be. i love her! quite a few of them fell on their political swords. it looks like maybe some of them

. >> i had honor of going to paul volcker's funeral today to add to andy's point about reaganomics and what happened in 80s. idea yesterday you could listen to a leader people talk about paul volcker, he instituted idea of capitalism through good and bad times. david: milton mea milton friedmo love the phrase free to choose. >> elizabeth warren with her push for medicare for all. >> we'll push through health care that is available on everyone, you don't have to, but it is your choice if you want to come in get full health care coverage. david: i don't know, andy, is it too late to turn her support. >> she will say whatever she has to say to get votes, she has no shame, she is economically illiterate and intellectually arrogant, it comes across in all her plans, medicare for all plan was ridiculous, the taxes she you would impose to put it in place were absurd, and everyone knew that. with private equity, her 2 cent tax -- wealth that would be 100% tax on people who are wealthy, these are ridiculous policies, medicare for all, i think drove the stake in but her policies in general are a

volcker it most important for zelensky to say he will help investigate. on august 8th, they text about potus wanting the deliverable. for them to get the white house meeting he needs to announce the investigation. sondland says that morrison is ready once they confirm. >> excellent, how did you sway him. not sure i did, i think potus really wants the deliverable, and said does he know that, lots of conversations going on. august 16th, discussing ukraine's concern that he was noter using official channels t request investigations. the salesperson that asked was yurmak? >> yes, but don't site him. they made clear that do break the log jam, president zelensky would have to move forward on the importance to trump and meeting the investigations. and the list goes on and on. this claim, this is the thinnest of evidence, is simply not true. there is overwhelming evidence of the scheme lead by the president and his attorney to corrupt the american elections to withhold military aid until a public announcement was made that would smear the president's chief politi

volcker worked in the treasury department under john f. and served under president obama's economy recovery advisory board. his career spanned 10 presidents. paul volcker was 92 years old. >>> attorneys representing many of the survivors of the north bay wildfires from 2015 through 2018 held a meeting in santa rosa yesterday to provide details on the settlement. people who lost their homes say they have questions about the u? what's the time? and what's the range of those payments? that's what i came for today. >> $6.75 billion cash. $6.75 billion in stock will go into a trust fund that is established for all the victims. >> the deal took three years to put together. attorneys say if things go according to plan, survivors could start receiving payments late next year. >>> bay area u.p.s. drivers and some fedex drivers say they're honor frankrt working at 2:00 ordonez, the u.p.s. driver who was killed on a florida highway during a shoot-out between police and the two men who carjacked the delivery truck. his family is demanding answers on w

paul volcker is one of the reasons the u.s. economy has remained strong the past 40 years.hank you. remember, if you have your own hit or miss, be sure to tweet it to us at jer on fnc. that's it for this week's show. thanks to my panel and to all of you for watching. i hope to see you all here next week. ♪ eric: a historic showdown looming after the house judiciary committee approved two articles of impeachment, democrats charges president trump with abuse of power and obstruction of congress. as you know, that sets the stage for a full house vote that is expected to come next week. whether or not to impeach the president for only the third time in the history of our nation. no surprise, the historic and controversial of move sparking strong reaction from >> i think that the whole impeachment think, hoax i think you could call it, it is a hoax. nancy pelosi knows

paul volcker is one of the reasons the u.s. economy has remained strong the past 40 years. thank you. remember, if you have your own hit or miss, be sure to tweet it to us at jer on fnc. that's it for this week's show. thanks to my panel and to all of you for watching. i hope to see you all here next week. there will be a historic week on capitol hill. a full house and vote on impeaching president trump just days away. the president now facing the possibility of becoming the third president in our history to be impeached. hello everyone. this is a brand-new hour of "america's news hq".

paul volcker is one of the reasons the u.s. economy has remained strong the past 40 years.fnc. that's it for this week's show. thanks to my panel and to all of you for watching. i hope to see you all here next week. everybody maria's wall street begins now. maria: and happy weekend everybody welcome to the program that analyzes the week that wasn't helps position you for the week ahead. i am maria great to be with you this weekend. coming up in just a few moments ceo of firm, maps election is our special guest. joining to talk about how a firm is disrupting the credit card industry. also asking about private evaluations and everything else. first big story of global headlines sending markets into record territory. phase i deal between the u.s. and china, and election victory for boris johnson in the uk,

ef >> but ambassador volcker gave a pretty detailed account. >>. >> in the article says dated ma 2019 the ukrainian capital in the coming days to pursue inquiries about to matters of intense interest. is the involvement of former vice president joe biden himself. and this is the same article and form policy and that to be very helpful to my client my only client is the president of united states he is the one i have the obligation to report to for what happened. so what mister giuliani said that it is a big story, it is a dramatic story, and i guarantee you joe biden will not get to election day without this being investigated. not because i want to see him investigated. that refers to the 2020 election where president trump is running against or running for reelection. >> and with president trump. >> you will have an opportunity to talk about that when minority counsel questions you. questions you. to be asked he's leaving soon in the next couple of days or i will speak to him about it before he leaves. he continued his pressure roughly one month before the call still silent on inves

volcker or mr. morrison. i will say at least they had the ability and willingness to come and testify. unlike the chairman who wrote a report, sent it to judiciary, and didn't w that i yield a minute and a half to the the gentlewoman from texas, ms. granger. the speaker pro tempore: the gentlelady is recognized for a minute and a half. ms. granger: i rise today in strong opposition to the politically driven articles of impeachment that have been brought before the house of representatives today. for the past three years, democrats have been unable to accept the voters' choice to elect president trump. they have used any and all undemocratic and unfair means necessary to try and remove him from oofs. my vote today not only against illegitimate impeachment of our president, which began not with facts but with a foregone conclusion, it is against house democrats making a mockery of due process and the rule of law. this will not go anywhere in the senate so all democrats have accomplished is post opponenting the

he went to wall street, he climbed all the way, but also with a job working for paul volcker. tune in, apple, google, fox news pod casts.com. if you are baking or cooking or packing for the holiday, ask alexa to play everyone talks to liz. "the claman countdown" is coming right back. liz: 2019 certainly not the year of the crypto. bitcoin staging a comeback over the first six months of the year. that looked great. recent intraday high of 13,850 per coin, back in june, just a week after facebook announced its controversial libra crypto project. but a series of subsequent slams against virtual currencies by d.c.'s top brass including fed chair jay powell and president trump virtually wiping out those gains. yes, it is up $521 right now, but at $7,137 per coin, it's a 50% drop in value since the june annual high. >>> connell, bitcoin. boy, that was a big story last year. it started to look good, didn't happen. connell: no. that was an -- that chart at the beginning was really something else. i remember those days. crazy days for bitcoin. coming up at the top of the hour, we will

volcker, mr. morrison, even mr.dland who presumed it was being conditioned, the president told senator johnson there is no precondition. nothing to be presumed. if you want to show one side, show the other side as we go along with this. president trump has always been concerned about foreign aid. he is always concerned what ask going on in the ukraine and europe, and are they participating and our tax dollars. the question looking at corruption, does it matter who is involved? that is the problem with the policy issue in intel. he was looking at the corruption part of it, if the bidens were involved they would have been a part of that. the problem there is never a discussion in intel as i pointed out, several key fact witnesses who actually said there was no conditioning of this. you can put -- chris: let me ask you, because we're about to run out of time. july 25th, phone call, where between president trump and president zelensky, he never mentions corruption and ukraine, he never mentions burisma. he said investig