the feds christopher waller says a decision on tapering could be close at hand.anks bouncing back. our conversations with the ceo of standard chartered and the cfo of socgen coming courtly -- shortly. the bank spurred to buy back $250 million of shares and pay a small dividend. bringing us an exclusive interview is rishaad salamat joined by the ceo of standard chartered, bill winters. >> thank you very much. bill winters with me, wearing a mask today because he is under regulations as he is quarantining. bill, great numbers. bill: very nice to be here. we have a bunch of things going on. the big change is loan impairments, which were down significantly. we did some pretty cautious provisions last year at the early stage of the pandemic. relatively little of that has turned into actual losses.we did not release a lot of those provisions. what we had was very low levels of losses. each of our underlying business strategies is coming true. we have a big focus on our cross-border business focus. a big focus on our affluence proposition in hong kong and the rest of ou

let me briefly introduce governor waller. christopher j waller took office as a member of the board of governors of the federal reserve system on december 18, 2020 to full a term ending in january of 2030. prior to his appointment to the board, dr. waller served as executive vice president and director of research at the federal reserve think of st. louis, a position he's held since 2009. he has held faculty appointments at the university of notre dame , the university of kentucky, and indiana university. governor waller, thank you so much for joining us today. thanks again to everybody who is tuning and both to the livestream and who will watch the video later at their convenience. governor, i will turn it over to you. >> thank you, michael, and thank you to the american enterprise institute for the invitation to speak to you today. the payment system is changing in profound ways as individuals demand faster payments, central banks including the fed respond, and non-bank entities seek a greater role in facilitating payments.

and my final question is what assumptions do you have governor waller about fiscal policy and whether we see another trillion dollars injected into this economy, even spread over years for infrastructure, for instance, not to mention the $3.5 trillion that could go into a reconciliation bill and what that could do for the economy and inflation? >> well congress has to do their job in terms of whatever they think needs to be done on infrastructure or spending our job at the fed is to take those decisions and proceed and conduct a voluntarily policy that we feel is needed so it is built into how we set policy, but we don't really take a position one way or the other of whether they should or shouldn't do it. >> understood. spoken like a fed member thank you so much, governor waller we appreciate the transparency >> all right thank you, sara, very much i appreciate being on. >> good to have you on the show. wilford, with some candid thoughts there on the what the fed should be doing right now and i'd say very optimistic with the impact on the delta variant does not see it as a hit and th

the board of governors come with governor waller coming out yesterday. tom: this goes to our interviews that we have had with the vice chairman. some of those interviews rather heated. this is the great monetary economist of leadership of the fed. powell is not an economist. many of the others are very qualified, and rich clarida drives a theoretical bust at the fed. lisa: the federal reserve and how they are going to react. my question is, are we starting to see a cooling off in some of the pressure, particularly within inflation. yesterday highlighting a supply chain disruption. pressuring growth in a new way, jon. jonathan: do you want to lisa: hit tencent quickly echo lisa: i want to hit spiritual opium -- quickly? lisa: i want to hit spiritual opium. tom: where do i get in on this? jonathan: this is the close in hong kong at 6%. lisa: spiritual opium and electronic drugs. a state owned media outlet of china included a criticism of videogames as such. honestly, any parent who has lived through the pandemic welcomes spiritual opium and electronic drug

if he takes a similar line to governor waller, we've got a very interesting set up going into payrolls friday. tom: i would call that less than likely, but we will see. we will have full coverage of that, particularly bloomberg economics. the overlay here, and at least the analysis is all of this angst is about the new pandemic. lisa: the idea that the delta variant is gaining steam, creating new shutdowns in certain places, particularly in china, were you get the likes of nomura downgrading economic expectations for china. how much our ultra low yield signaling that the federal reserve is correct in its assessment and caution of tapering these bond purchases, and how much is it a consequence of the fed signaling it is not going to move any time soon that these distortions will continue? that is a huge difference, right? tom: no question about it. i want to get to our esteemed guest, our interview of the day on the equity markets. let's look at the data quickly, and i want to frame why tobias levkovich matters. the vix really doesn't move at 18.47. frame the bond market. jonathan: yiel

jonathan: who do you think we get an upside surprise from, governor brainard or governor waller? tom: i think it will get derailed by the centrists at the fed and by the politics of the moment, and the politics is about the primary elections of 2022. as you saw with manchin and powell today, it is all a political soup. jonathan: let's start with some price action. your equity market on the s&p 500 positive 0.05%. as i said, we come into friday at a record high. in the bond market, one point 2566% on tens. yields are high by three basis points -- 1.2566% on tens. yields are high by three basis points. lisa: we are talking about that 1.2 6% yield almost, and really i wonder how much this jobs report is going to inform that, especially after fed vice chair rich clarida came out and said it would just take a couple of meetings to really get a sense of fact that they could taper sooner. 8:30 a.m., this payrolls report. we have not been talking about income and salaries and how much we may actually start to see wages rise on a wholesale level. we have talked about labor force participa

and people won't be happy, for sure >> let me ask you this, pete, because you have fed governor waller dropping a bomb on the "closing bell" yesterday afternoon saying the fed could begin tapering as early as october. i don't think the market's ready for that i don't think many people see that you know, in my view with tapering we should go early and go fast in order to make sure we're in position to raise rates in 2022 if we have to. so maybe governor waller is thinking about if inflation gets out of control or if it's not as transitory as the fed chair thinks and some of the other members of the committee think we may have to raise rates in 2022 we better have enough tools in the box to do that and better start tapering as early as october. if that happens, what happens with stocks? >> well, it will be interesting, scott, because that is far in front of what everybody has been expecting. and i think the markets wants to be comfortable about what it expects and when i think that would be something that would flash into the markets. if the reaction was they were getting aggressive and

it's been a very long time since then, but he does have a governor who it sounds like christopher waller is ready to descend if he's pushed, given the white hot housing market. we've seen given data that came out just today that showed that new leases new apartment li, deriving, and a 17 percent annual rate in the united states. back along with a slowing economy, start to flash the dangers of stag lieschen, which most people have to google. and the question here did you have the fat inside and if you brought up an incredible point there, but for our viewers, what power does a dissenting voice within the fed have when it comes to trying to push that policy forward? well, it's not, again, i don't mean to be discounting the views and the work and the analysis done by federal reserve district president we're talking to, to now can to hear and have descend on the board of governors. that's supposed to be the chairs, closest advisors, and on top of this in the market knows this in january. we've got 3 very outspoken hawks rotating on to on to vote on the f one. see including bullard and rosen

announcer: now federal reserve governor christopher waller talks about digital currency and doubts about for the u.s. central bank to develop a digital currency from the american enterprise institute. this is just under an hour. >> i'm michael strain director of economic policy studies at the american enterprise institute. the majority of the world central bank's are exploring digital currency. most were puns for central-bank digital currency could function like u.s. dollars. they could be widely accepted as an alternative to cash in an increasingly cashless society. a digital currency could give

now, of course, over the last 20 years, the war there is laughter. 47000 civilians dead waller, almost 3000 soldiers from the us and u. k. have lost their lives. we spoke to one of the guests we had earlier in the program, alessandra mitchell, who says, basically the future of afghanistan looks bleak. the visa recommend closing up to members that pops up until pull out was be, make sure you got your schedule. didn't seem to cause to what is going to happen in the event of the school out the way you see them sort of taking over regular phone up to down up to city. and on the latest type county had full coverage falling to the hosting. so just imagine time people to take pictures, but nobody is stuck on this pretty much imminent. the former us state department spokesperson gent, saki is claim she's been the victim of russian propaganda. she made the claims during an interview to vogue magazine, saying she felt that she was being picked upon during various news briefings. r t, the russian state funded news networks last campaign to cast an airhead publishing a list of what it called jim p

four guys who at least weren't always hawks waller, we don't know about necessarily, because he's newp with buying corporate assets can't say a hawk by nature bullard, gone either way depending what's happening out there and rosengram and -- and -- bullard and waller, all of those guys, they've been all over the map they're not died in the wool hawks, mix a couple metaphors there. >> announcement of taper and start of taper on wall street, when it all comes out saying start of taper to happen next year, or whenever it is, is that, is it presumed that will be in the form of rates or would it be in the form of, you know i don't know -- bond purchases or corporate bond activity i mean -- what do you think that is >> well, the taper -- taper means reducing the fed's asset purchases and the fed right now is buying treasuries and mortgage-backed securities the two things that it's purchasing what will happen -- by the way, another debate there the time period over which it happens. not just when announced or what time period. one of the fed officials talked about a faster taper krishna wrot

ah, thank your international sports news with santa thank you very much, peter waller. jacob anger. but it's and has won the mens 1500 meters and in you elim pick reco time know, asian. that lot. she's attack is going into the final event where he power the way from world champion timothy sherry out of kenya. and my son is the 1st runner from europe to win the event since 1919. i feel like i've wanted this for my whole life because when i started realizing that the olympics is the biggest, i want to win it. so i feel really proud to find her son has won her 2nd gold of the games forming home to win the 10000 meters. the dutch woman also won the 5000 but failed in her bid for historic trouble. when she got bronze in the 1500 metre, near shall bra has won the mens at jackson with a best row of 87.58 meters. india 1st of limpid gold medal and track and field. and can you have finished 1st and 2nd in the women's math? and while american, molly c. o has that taken a surprise bronze? more than a dozen of the 88 runners failed to finish the race. clouds gathered near the finish line in suf

i wonder if to you, also given what waller has said about the importance of the job numbers, about which event you think it makes more sense to price this risk around? guest: volatility is stubbornly low. we have seen a lot of volatility around data events. we need to see how this data pans out with the volatility spike. i think we need to see reality to kick in as to when we can move out to the lower volatility regime. right now looking at history it is fairly low. we need the next fed meeting to see a shift. manus:, i am just wondering slightly left field, but i was outside the ecb a few weeks ago and a lot of people were saying it is the same old wine served in different bottles, which i think was a bit disingenuous in terms of the guidance. he has clarified what he means over the weekend. the p, in the ppp, the p stands for pandemic, not permanent. how hawkish is this? guest: not as hawkish and not as game changing, i feel. we have in all the different speeches, we have a lot of information already that it is not permanent, but it is also not in emergency situation anymore. i think w

you heard from the new governor waller saying if we get 8 million jobs in the next couple months, he would call that significant process and will start to taper by the fall. even the san francisco fred -- san francisco fed president saying there is reason to expect the -- in the labor market to become permanent. i'm not sure why some people are saying that what she said was dovish. i thought it was on the clock is shied -- on the hawkish side. i think the vice chair is probably going to support what the fed chair is saying. tom: tell me if we get a good job report how it changes fed policy and does it change your view on the american economy? jennifer: it depends what we are calling for or what we define as good. we are below expectations with our call. under normal circumstances, that would be an amazing number. i think as long as we continue to see over 500 to 600,000 every month, steady gains cutting away at those losses of 22 million we saw last year. that to me would be further progress. whether or not that should be enough for the fed chair to drop the hint at jackson hole at t

. >>> we are getting comments from federal reserve governor chris waller steve has that for us.teve. >> morgan, good morning. yeah, fed's chris waller saying he is really skeptical about the need for essential bank digital currency they are considering this, supposed to issue a paper on this, not necessarily one way or the other in the fall. they said it's a solution in seven of a problem as far as he is concerned he said it requires explicit congressional authorization because it would change the rules under which the fed operates here is some bullet points he makes. the government should not compete with the private sector only do so to address market failures, which he sees none he goes on to say the private sector is already developing new payment technologies i think the fed would be any smarter and dove cheaper technologies he says the cbdc won't deter use of crypto assets for money-laundering he makes a strong point about china saying chinese central bank digital currency is not a threat to the u.s. dollar reserve status here is a quote. he says i see no reason to expect

you have someone like governor waller, who spoke recently, who said we've got to get moving. got to start to do tapering more rapidly because we see the economy coming back. rich clarida had a fairly optimistic view of where the economy was going. seems to be discounting the delta variant, although he's much more on the dovish side of waiting till the end of 2022 before starting to raise rates. lisa: danny blanchflower was basically saying it is correct for all of these doves to be dovish because the fact that we have this low participation rate in the labor market is really a result of failed policy. do you agree with that assessment? randall: i'm not sure it is the result of failed policy. i think a lot of people have decided, especially older people who have come back into the labor market, have said with all of these uncertainties, maybe this is a good time for me to stay out of the later market -- the labor market. so i think there are a lot of other things like the pandemic. it just fundamentally changes the way that people think about going to work, going shopping. tom

and we hope you do get that the help you need and thank youing sheamus waller for helping us understand it. thanks to both of you. just a quick note, at the top of the hour, the new york attorney general will hold a news conference to make a quote, major announcement. something that watch. we'll bring you that news conference. thanks so much for joining me today. so much news to cover. i'm jim sciutto. "at this hour" with kate bolduan starts right after a short break. i've been telling everyone... the secret to great teeth is having healthy gums. crest advanced gum restore. detoxifies below the gumline... and restores by helping heal gums in as little as 7 days. crest. the #1 toothpaste brand in america. so then i said to him, you oughta customize your car insurance with liberty mutual, so you only pay for what you need. hot dog or... chicken? only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ subway®... has so much new it didn't fit it in their last ad. like this new and improved steak and cheese loaded with our new tender steak that's marinated and thicker sliced, on

we're hearing on cnbc, one of the top fed voices waller, tapering must start in september.ins? >> it is not good start with opening flows that were sold. a institutions and funds took strength to sell not a goodingnal. not that august could be as strong as some say. they sold megacap earnings. they sold after pell, they sold microsoft, they sold amazon. they sold a lot of big leaders, captains of the market. today's action says or confirms it, the small caps opened up. they have been lagging. they're on the lows of the day. traders need to take it step by step with a little less risk, or spend a little bit more time on the beach or in the mountains because the action right now doesn't look like we'll have momentum to the upside. liz: unhelpful, certainly when we started the show the russell was low. 13113 for the small and mid-caps. what do you do if you're not going to the mountains as a trader or investor, what do you look at if we start to see shakiness in the markets? >> you see high levels of cash. if you're a strong in the market, hold multiple positions. it is not a

you have waller making comments like bugrd before him making comments like that i believe there is a contingent on the fomc ready to act a little bit earlier, for example, maybe on tapering to clear the runway for potential liftoff of rates in 2022, if the inflation problem ends up being not transpore. for the record clarida says he expects most is transitory but singling those two things out. if i could mention one other thing at 10:00 ism service indicator came in well above expectations, 64.5 was the number,ible, out there which was huge prices paid came in very high as well so more inflation in that pipeline there but also the employment index came in also very strong as the market prepares for that big friday jobs report >> there are a lot of cross-current on the economy and fed speak. you get more thisweek and data as you say steve, thanks as always. appreciate you being on the program >> sure >> cutting through some of that as we watch what's happening in stocks and then you also have as we talk about what robinhood is doing. i don't know if dr. j. is still with me. but thanks

. >> to that point, fed governor chris waller, he said that if we get a couple strong jobs reports, theorrow, maybe the next one, that the fed should quote go early and go fast. listen, okay, maybe, you start think about things like inflation. realistically, real wages have been down every single month this year. even dividends are below -- it just, it is so, a comment like that it certainly makes it real hard to be, even a long-term investor if you keep peeking at your account, doesn't it, judy? >> well i think that the activities of the fed now risk looking quite illogical. it is one thing to throw everything but the kitchen sink at an emergency which happened 17 months ago. charles: right. >> but the one thing that the lender of last resort can do is provide liquidity. now we are awash in liquidity. now we have the fed doing things that kind of undermine each other, that is, it is still buying 120 billion in government backed securities but then it is corralling effectively by paying interest on reserves. the fed thinking it is supporting the economy, it is continuing to entice banks

committee member buddy carter, former ck restaurant ceo andy puzder in new york state assemblyman mike wallerformer national security official kt mcfarland, california republican party chairman tom dela beccaro yelp and former acting ice director tom homan, were investigating the massive spending being pushed by democrats which includes ripping of the irs a move to get more tax dollars to pay for their big plans. more than $100 billion going to the judiciary committee a chunk for giving some migrants permanent legal status here in the u.s., critics warning this will open the floodgates at the southern border and look at these pictures we obtained on the conditions of the border and facilities the two border patrol confirming to fox news there is more than 210,000 apprehensions last month alone as democrats look to spend trillions your wallet is getting squeezed, consumer prices out of 13 your high necessity like food, gas, electricity rising as well as huge surges and cars and rental cars this as republicans worn inflation is going going to get worse if the government continues a spending spr

. >> federal reserve governor christopher waller talks about digital currency and doubts about callsor the u.s. central bank to develop a digital currency. >> i'm michael strain director of economic policy studies at the american enterprise institute. the majority of the world central bank's are exploring digital currency. most were puns for central-bank digital currency could function like u.s. dollars. they could be widely accepted as an alternative to cash in an increasingly cashless society. a digital currency could give access to the financial system to the un-banked and may increase the efficiency of financial transactions. at the same time the adoption of digital currency could be truly disruptive to existing financial situations. should the fed launch a digital

yesterday fed governor chris waller saying hey, go fast, go now, go fast if we get a strong jobs report that is the case what are you doing in your portfolio? >> i'm holding off until we see more of the inflation data, some of the ppi and cpi numbers next week. i don't think it will be purely off the jobs report. the fed will take more than one data point and i'm basically doing the same. so i'm not jumping in even if we get a great number for friday. charles: eddie? >> so i think the playbook we laid out to your viewers at the end of june, early july, with regard to starting to come to the realization we'll have a slowdown over the next few quarters, regardless what the fed does in the near term and so we have started to increasing the quality of the portfolio. i think viewers need to take big bounce days and start to do that because, we are going to have a slower growing economy. the easy money has been made. it will be a lot more challenging for everyday investors for the next six to 12 months. we have to deal with the headwinds of the fed tightening into an economy that will be dece

this comes, by the way, as others, club kaplan, bullard and chris waller, have all come forward and suggestedhas really upped the chatter when it comes to the idea of a faster fed that's out there, perhaps a if ed that announces a taper in accept or november and begins to taper this year. here is rosen dgren joining the more aggressive out there. he also said he doesn't see the fed's asset purchases increasing really he said all it's doing is raising prices wilf, sara >> thank you, steve, it's sara and i today. we've seen the low-end yields for the medium term. i think it is. i think that fair value is in 1 1/2 to 1 3/4, maybe even up as to 2% this year. in terms of the yield left, so i do expect the bonds will sell off, particularly as we get into the fall, as we see more people return to work, and as inflation data remains somewhat robust i do think that that environment, you know, sort of will beget some selling from bonds. i don't think that means that yields are going excessively high from here, but i do think we're probably end of year in the ranges above 150 so from here, it probably m

chris waller, jim bullard, president of the st.ouis fed, has said in the last couple of months that we are ending the taper rather first quarter and that would be a lot quicker so that is the question now. what will be here from jay powell? is he ready to give us something as specific as that? haidi: kathleen hays there. we will be hearing from a slate of said presidents during the jackson hole symposium and that includes esther george, rothschild bostick -- raphael bostic, and loretta mester. our next guest says the key risk to this week's rally are any hawkish commentary from power. joining us is the cio at bluestone wealth advisors. lots of concern over inflation overshooting the fed's expectations so what kind of balancing act is jackson hole for the fed chairs? bryan: all eyes are going to be on fed chair powell's comments with regard to taper talk and inflation commentary. i think what you see in the past few days in there's been a strong. on risk assets and growth assets in particular given a lot of investors are getting ahe

coming up on sunday morning, james waller discusses the senate debate on the infrastructure and spending will. then, stephen morrison discusses the global covid-19 vaccination effort. watch c-span's washington journal, live sunday morning. be sure to join the discussion with your phone calls, facebook comments, text messages and tweets. >> sunday, c-span series, january 6, views from the house, continues. three more share accounts of what they experienced that day. >> we did not have the highest degree of preparation, being on the house for we didn't really see the images in the real-time footage of the ongoing us all the capital. however, once we arrived in the secure location we were able to get some understanding of that and could only imagine how our loved ones were feeling watching this all unfold in real time. it certainly was a great comfort to myself and every other member to be able to communicate. with family members back at home. one of the communications i received was, my brother reached out to me to check to see if we were ok, then sort of as an aside, by the way, he and hi

who want to go faster three fed officials are the hawkish once, robert kaplan, jim billiard chris waller-chair expressed sympathy last week, but didn't endorse them although the hawks are unlikely to have support of fed chair jay powell and others, among them are those who want to taper as soon as september or october that's the actual reduction. so here are the keys strong jobs report, you've got to have another 900,000 or 800,000. what is the impact of the delta variant? does fed asset purchases even help that at all and does inflation show any sign of being transitory when we get the next report wednesday, by the way. all of this heightened expectations for jackson hole in a couple of weeks. we will have several fed interviews and powell will give the keynote speech it's going to be up to powell in jackson hole to make september a real possibility for a taper announcement or take it off the table. i am looking at these jolts numbers here hires up 700,000 and the quits number up 200,000. that's the sort of thing people do when they feel confident in their job. so at 3.9 million quits o

. >> let's bring in mike waller h had previously called for the resignation you've heard what h saids in a couple of occasions. the most serious allegations have no credible basis in fact all the allegations are false and then he went on to say he did do this stuff but he didn't mean it. as a been pointing out you've been calling for him to step down for a very long time what did you make of what he said? >> i think we saw the five stages of grief play out in the matter of minutes. the governor denied many of these allegations he had an attorney go out victim shame people but ultimately he came t accept the fact that he had no longer enjoyed the support of m colleagues in government or the people of the state of new york to govern. i'm grateful that he actually showed a bit of decency by resigning today. although it may be effective 14 days now it's important we move forward as a state and it was obvious to everybody except possibly the governor that we can't do it with him at the hel in a more. >> what is the point of delivering having your attorney go out ahead of you and resign de

waller has spoken out.u read between the lines of what rich said earlier this week, he's maybe losing a little patience with waiting on the transitory story it still has time to work out, carl if you get people coming back to work, you heard rick talk about inventories building that's part of the building and normalization of the reinflation story. big number next week cpi on wednesday >> and that's go tag get a lot of attention because there's not a lot else to compete with it. in the meantime, united airlines making a big announcement on vaccine requirements and cancellation woes continue over its spirit morning, phil. >> good morning, carl. let's start first with united airlines the first major airline to require its employees, at least the u.s.-based employees, to be vaccinated here's what united is telling employees this morning about 67,000 will have to be vaccinated by late september, early october. it's partially contingent on doing full authorization on the vaccines if you are not compliant and you

look, what happens with the taper relative to race is a big gap though the idea that waller expressedr get the purchases out of the way so that we have flexibility to change rates. the rate story is a different story. it does clear the way but doesn't necessarily mean a faster rate on the fed >> the conversation around the taper has often gone to we don't really need, do we, the same amount of help we were getting at the heights of the pandemic and the fetd's stance always seems to be look, that's the policy setting we arrived at when the economy needed it and until we meet our threshold standards, we don't want to move off of that. so t creates ocwrtdness of what is it doing right now? if you say the taper is a nonevent, then what was the effectiveness of it while it was underway >> i want to correct what you're saying because now what you said is 100% true except now we're hearing fed officials voice skepticism in fact, he said he didn't know what prices were doing, except raising prices said it's not helping with jobs. your comments are embraced by other people on the fedple and th

that kind of supports the idea of going against the tide and i think the idea is that if guys like waller and others are right, that this is a spike, and we're going to get control of the virus, control of inflation, then it makes sense to lean against what the prevailing posses pessimism is right now. >> as for contrary indicators or not, you pushed the dow to a session high, it is currently up 250 points, 0.7% >> i'm willing to keep talking -- i'm willing to keep talking on behalf of investors everywhere. >> well, i think you should. regardless of whether or not you're still on camera, steve, thank you so much. we have to move on now >>> turning to china, where video game stocks are under pressure following new criticism of the industry in state run media. josh lipton has that story for us. >> we know the chinese government has been cracking down on a range of industries from online education, to ride hailing. now investors wondering could online entertainment be next chinese state media calling online gaming opium of the mind. in an article saying online gaming addiction is widespread,

. >> judge waller, rightfully so, asked dennis rader to describe what he did. >> all right, mr.had to put on a person or how long it would take. the whole family just went -- they went panicked on me, so i worked pretty quick. mrs. vian, i went ahead and tied her up and then put a bag over her head and strangled her. after she was down and not moving any more, i -- i rearranged her clothes a little bit and took some quick photos. >> here is this man standing up in court, in what i imagined was his church suit, recounting the murders of his neighbors, one by one. >> i had a commitment i needed to go to, so i moved her to one spot, took her out of her car -- this gets complicated. let me think now. okay. in the interim, i took her car back to her house. >> our mouths dropped. and the national audience, too. this guy is explaining every single murder in detail like he's explaining a trip to the grocery store. >> he's giving the judge a lesson in serial killer 101. that's his arrogance. >> if you read much about serial killers, they go through what they call the different phases. th

>> so we got the first inklings of a divided committee when we had waller and bullard there are peoplee faster. before those guys spoke up it was sort of like everybody was speaking from the same playbook. right now there's a couple who have gop the other way i'm very interested to see what we hear and get in and how much division there is. that will be very important. i think there are a couple of normal hawks on the committee who have been very quiet given the political pressure from guys like manchin, the data about how much the american public is concerned about inflation as well as the idea that some people on the fed think they're a little bit out over their skis, we might get more division. powell has done a good job keeping the committee in line speaking from one voice. that may change in the coming weeks. >> steve, finally, this goes to what melissa was talking about in terms of what the delta variant does in terms of shifting the view, you're still going to the jackson hole event, right? they're still going to do this in person? >> you know, as far as i know. day to day i thi

host: coming up next, james waller will be here to discuss the senate debate on the infrastructure andpending bills. and later, the director of the center for strategic and international funding global health policy center will be here to discuss the global covid-19 effort and the importance of vaccine -- by the united states. stay with us, we will be right back. ♪ >> tonight on q&a, helen andrews, talking about her book the men and women promise freedom and delivered disaster. >> the one liner about boomers as they are the generation that sold out but would never admit that they sold out. it is the combination of a great deal of idealism and noble idealists but on the other hand selfishness and narcissism and of blindness to the ways that their agenda knocks down a lot of functioning institutions and left people worse off. >> helen andrews and her book "boomers."" >> weekends on c-span two are in intellectual feast. you will find events and people who explore our past. on sunday, book tv brings you the latest on books and authors. discover, explore, we guns on c-span two. -- weekends

waller it depends who's saying what when you see guys like rose ngre was out there.e fed before anybody else buying corporate assets, right? >> wow. >> bullard was the guy who wouldn't forecast future rates so none of these guys are died in the wool hawks which you would take with a grain of salt. this is happening. i think the market is well prepared for it. i think what you're asking here is this. you're answering your own question which is did powell give the markets enough advanced notice well, this reporting combined with the market reaction i think suggests that he did i went back -- guys in the back, if you could put up a two-year going back to june, my first story sort of saying the fed was on board with this idea of discussing taper came in early june since then the 2-year has added 6 basis points or 7 basis points it's really nothing. the market has been relatively -- has been expecting this look at that there's not that much there if you go from june it's 6 or 7 basis points total so the market has been expecting this and i think maybe the question in the