what you make of these comments by william dudley?> he is known to be slightly to the dovish side of janet yellen. pimm: he would have lower interest rates than higher? >> he would prefer to move more slowly. that has been his stance of a long. he did say do not overreact because the recent argan developments -- market develop its could be a temporary phenomenon. he is watching and waiting to see with the feedback data is. by the september meeting we might not have a clear definition. he really is in the watch and wait cap. -- he is certainly not adamantly opposed to moving in september but he doesn't have an itchy trigger finger. not a whole lot of new information here. he bobbed and weaved around recent developments. olivia: he is saying that the u.s. economy is performing quite well. that is what it looks like if you look at durable goods this morning. home sales. >> consumer confidence was a big one. and the labor components of that report basically posting their best levels, their best readings since the end of the last recession

william dudley has said the move seems less compelling.e's the vice chairman of the federal open market committee that determines u.s. monetary policy. >> from my perspective at this moment, the decision to begin the normalization process at the september meeting seems less compelling to me than it was a few weeks ago. >> dudley added the u.s. economy is improving and a rate hike by the end of the year remains possible. he said the fed will be sifting through economic data and keeping an eye on market developments until their next meeting. the interest rate is currently near zero. the markets believe the decision could come as early as next month at the fed's policy board meeting. let's get a look on how the fed officials' views are affecting the market. mayu is standing by. finally we saw wall street break its dramatic fall earlier in the week. another wild day there, but this time with a pretty good ending. give us the picture. >> i'll give you the details in a minute, but i can say markets are definitely recovering after that crazy wild

the fed's william dudley fuels hope that september lift off is off the table as economists push out rate hike expectations to september. >> from my perspective at this moment the decision to begin the normalization process at the september fomc meeting seems less compelling to me than a few weeks ago. >> it's not a market for the faint hearted even for some of the greats. bill ackman and bill gross suffering amid market swings. >> and case dismissed. they're clearing them of accusations of rigging markets for fast traders. >>> welcome to the second hour of worldwide exchange. after five days of triple digit delines the dow surging 619 points. the s&p 500 up about 72 at 1940. the big out performer in terms of percentage terms was the nasdaq. still well above 5,000 but gaining 4% with tech and bio tech being the stand outs. here in europe reminding investors how much the reset in the global growth picture can impact equity trade. we've seen a lot of volatility over the past couple of days. do you see a trend there? i think i do. xetra dax back above 1,000 and still in correctioner the moy

new york fed president william dudley says while the devaluation has huge implications to the world economy, the u.s. appears on track to raise rates in the future. china also want donald trump's mind. republican presidential candidate wayne in a china's currency intervention last night on lou dobbs. >> it's impossible for companies within the united states to compete with this kind of currency devaluation. it is a serious problem and we do nothing about it. nicole: trump adding that it's impossible to compete with the currency devaluation. the obama administration doing nothing about it. overall though we did see was a selloff on wall street to our u.s. treasury market on the move yesterday and we will watch the big players. autos, luxury makers, raw materials. number one front and center we talked about this yesterday with the rate hike. >> us to watch markets this morning, looking at asian markets close higher after beijing devalued a third day in a row now. you can see markets bouncing back to shanghai in one and three quarters of a percent good some relief as he wrote the cac in france

that's the view of william dudley who gave the clearest sign yet that china growth fears could delay lift off. the comments come as they prepare to gather at the annual jackson hole conference in wyoming where steve filed this report. >> central bankers from around the world ready to meet in the shadows of the mountains in jackson hole markets look more like this after five days of extreme volatility. that lead a leading fed official to suggest the odds of a september rate hike from the fed are eroding. >> from my perspective at this moment the decision to begin the normalization process at the september fomc meeting seems less compelling to me than a few weeks ago but normalization could be more compelling by the time of the meeting as we get additional information on how the economy is performing. >> dudley said chinese economic weakness the strength of the dollar and recent market gyrations all combine to make the chance of a hike less likely in september but he wouldn't rule it out since it's still three weeks until the next meeting and lots of data to come. >> a lot can happen b

the president of the new york fed william dudley said, a september rate like had become less compelling because of china. let's see what happens before they meet in mid september and there's a crucial release of a monthly unemployment report. >> patricia sabga reporting there, and the economy added fewer jobs than expected in july. saving lives. coming up, efforts to release the drug which reduces heroin overdoses. making it easier for millions of americans to find jobs. jobs. i >> a new drug is bringing some hope to curbing america's heroin epidemic. called narcan, it's always saved thousands of lives. jacob ward visited the front line. >> the united states is in the grip of a heroin and opioid epidemic. the prings drug that peopl prict thousands of americans are given for perfectly legitimate reasons. the reason you die from an overdose, the opiate binds to the brain and turns off autonomic reactions, literally you forget t forget to breathe. that's how a heroin overdose kills you. we've had available this, narcan, that knocks and severs that connection. it's incredibly unpleasant, yo

but in the middle of last week's market madness, william dudley said that a rate hike could become less compelling because of china. all they can do now is to see what the data turns up, and there is a crucial read on the health of the jobs market on friday with the release of the molly employment report. >> in july the economy added fewer jobs than expected even though hiring reached a six month high. >>> no settlement was reached in so-called nfl deflate gate scandal. the judge said that he'll rule this week on whether brady must serve a four-game suspension for using under deflated football during a playoff game last season. >>> tightening the borders. still to come, two european countries making it more difficult for refugees to move acros across the continent. [ explosions ] and protests in ukraine's capital turned deadly. the latest straight ahead. >> refugees and migrants trying to enter parts of europe are running out of options. austria has stopped a train from coming in to hungary today. they did that because of overcrowding on austrian rail ways, not because the train carried

william dudley. but there are just literally thousands and thousands of fundamentals and mr.talking about them. after it was done, all coy think of is many made fun of technical analysis. but modeling human behavior is much more consistent and sometimes as your work shows, much easier to get good signals, let's start with your most recent success signal on the chinese stock market. the shanghai index. what did you see and how did it turn out? >> well, we've had a number of calls in the chinese market since december 4th or 6th of 2012. and fortunately we've had a high success rates identifying the tops and bottoms within one or two days of the top or bottom so we've had a good string and hopefully this is another. we were looking for a top back on june 12th. we were there the day of the high, just like we were there on the nikkei market on june 24th and we projected down side to 3200 on the shanghai composite. and this past monday the low was 3193. and that fulfilled our downside objective. right another we're at a very, very critical point in the market. it's really a two-day

william dudley has said the move in his words seems less compelling. he is the vice chairman of the federal open market committee that determines u.s. monetary policy. >> from my perspective at this moment the decision to begin the normalization process at the september meeting seems less compelling to me than it was a few weeks ago. >> he added the u.s. economy is improving and a rate hike by the end of the year remains possible and stressed the fed will be sifting through economic data and keeping a close eye on market developments. the fed officials have been saying they intend to raise key interest rate which is near 0 by the end of the year. the markets believe the decision could come as early as next month at the fed's policy board meeting. >>> stocks on wall street gained following dudley's comments and that led shares to another rally. let's go to our business reporter at the tokyo stock exchange. >> the market woes not only following gains in the u.s. but staged a comeback. that is risk over sentiment. let's check closing levels for this thurs

kristof: the president of the new york central bank, federal reserve, rather, william dudley, came out with interesting comments on wednesday regarding a possible hike in interest rates in the u.s.. tell us more. ian: yeah, they probably helped the market. he was pretty clear, saying that a rate increase in september looks less compatible -- less compelling. there is still no guarantee that we will not get an increase next month, but it does look less likely. he also said that he would like to see rates increase this year, but probably not on september 16. interestingly enough, the dollar did not lose but actually gained a good 1.5% in comparison to the euro. the bets for an increase in september dropped sharply. kristof: thank you very much. all of that and more in just one minute. we have got some more news coming up. sarah: exactly, we have more news coming up in a minute, as you just mentioned. kristof: that's right. sarah: we will talk about europe when we come back after a short rate. stay with us. >> climate change is affecting us all. rising sea levels and erratic weather are p

kristof: the president of the new york central bank, federal reserve, rather, william dudley, came out with interesting comments on wednesday regarding a possible hike in interest rates in the u.s.. tell us more. ian: yeah, they probably helped the market. he was pretty clear, saying that a rate increase in september looks less compatible -- less compelling. there is still no guarantee that we will not get an increase next month, but it does look less likely. he also said that he would like to see rates increase this year, but probably not on september 16. interestingly enough, the dollar did not lose but actually gained a good 1.5% in comparison to the euro. the bets for an increase in september dropped sharply. kristof: thank you very much. all of that and more in just one minute. we have got some more news coming up. sarah: exactly, we have more news coming up in a minute, as you just mentioned. kristof: that's right. sarah: we will talk about europe when we come back after a short rate. stay with us. >> climate change is affecting us all. rising sea levels and erratic weather are p

those going to make it easier i would say watch janet yellen, stan and -- stanley fischer and william dudley. did william close the door on september? >> i think that seems to be the case. the greek crisis is the catalyst so from our perspective we think that even before the malaysian equity market was off the table we think the fed is data watching. unemployment is doing exactly what they wanted to do with falling and looking positive but what they need is more confidence on growth so from that perspective they are data watching like you and i. >> traditionally the fed places less emphasis on markets than we would. having said that, there is no way they're going to start lift off. legend giantfund making some weight talking about qe4 the last couple of days. >> ido you think about it? think it is highly unlikely with the on a planet rate already through the roof. it is really not on the cards. think a more likely course would be to delay the liftoff. with unemployment where we are, sub 5.5% -- highly unlikely. jon: in china to stabilize the currency and they are leaking reserves. they are s

going to listen to people, listen to janet yellen, william dudley and stanley fischer. back to you.ischer international flavor. tom keene is at the head of "surveillance" and 25 minutes. it is pretty surreal. and then and the u.s., our scope this morning that the chinese are supporting the chinese equity markets. everything the market participants have said should not be their focus. are they concerned about social issues? i would say they are moving towards a september 3 celebration. the headlines that they are deep alluding beijing shows the moment. we have risk on trades coming off the dudley comment. we will look at the markets, jonathan ferro bringing us up to date. brad hints from stanford bernstein. in two weeks, we come back from .ummer .e talk about the future as we look at m&a, and particularly energy m&a, we saw that yesterday. a little bit of normality here, even as we focus with mike reagan on what is going on in china. manus: i suppose the other thing is this, are the chinese selling u.s. treasuries? that is a great one in terms of the currency move. tom: i think you a

up next, william dudley says the september rate hike is looking less compelling.teve liesman will have the latest details live from jackson hole. >> also coming up, the head of one of the biggest banks in canada will speak with us exclusively. low oil prices have been taking their toll on the economy north of the border. find out what their effect could be on corporate profits moving forward. here at td ameritrade, they love innovating. and apparently, they also love stickers. what's up with these things, victor? we decided to give ourselves stickers for each feature we release. we read about 10,000 suggestions a week to create features that as traders we'd want to use, like social signals, a tool that uses social media to help with research. 10,000 suggestions. who reads all those? he does. for all the confidence you need. td ameritrade. you got this. >>> 35 minutes to trade, and the dow has absolutely rocketed on the session overall. currently up 546 points. the last time that the dow closed up 500 or more points was back in the middle of november 2008. if these

this came after new york fed president william dudley says it is looking less likely fed will raise interest rates given market volatility and troubles in china still analyst say big swings in the market could be the new normal at least for the next few weeks. >> ten of the world's biggest auto makers including gm, ford, honda, and bmw are facing a class action lawsuit over the dangers of key less ignitions. they claim that the company has known for years about the dangers of carbon machine oxide poisoning when keyless vehicles continue to run once drivers leave the car. lawsuit says 13 carbon machine oxide death are linked to the problem. >>> disney is tapping into the the power of you tube to launch products tied to the upcoming star wars films the the force awakens. on september 3rd you tube stars across the the globe will unwrap toys, live on line, those new toys as well as comics, books, and clothing will go on sale around the world as disney is calling it, of course, force friday. >> is there always some tag line related to star wars. we love it. jill, thank you. >>> 5:36. we have some

on wednesday, new york fed president william dudley talked about the possibility that market developments might make a december rate increase less likely. odds of an increase in september have fallen to 30% from 40% at the end of last month. the fed now says wouldn't want to add to the uncertainty. if you are on facebook, you are one in a billion. data shows that last month, one person in every seven on the planet logged on. the figure is different from the numbers facebook discloses when it distributes data every month. facebook had 968 million active daily users in june. overall, they have nearly 1.5 billion users who login at least once a month. mark zuckerberg commented on his facebook page, saying that this is just the beginning of connecting the whole world. he said that a more open and connected world is a better world and it brings stronger relationships, a stronger economy, and a stronger society. rishaad: coming up later, we will be headed to mom by -- mumbai with new priorities for india's national bank. we will be discussing the global turmoil sparked by the evaluation of the

in the middle of last week's market madness, the president of the new york fed, william dudley, said a september rate hike is less compelling because of china. all policymakers can do now is see what the data turns up before they meet in mid-september, and there's a crucial read on the health of the u.s. jobs market with the release of the monthly report. >>> in july the economy added fewer jobs and expected even though hiring reached a six-month high. it's a few more days before puerto rico releases a plan to tack on the island's huge debt. a group appointed by the commonwealth's governor was expected to deliver a plan by today, but the deadline is extended until september 8th because of tropical storm erika. they're developing a list of reforms to reduce puerto rico's $72 billion debt. >>> towns are evacuated this dominica after erika struck the caribbean island after 20 were killed and 50 others still missing. the tropical storm caused flooding and mudslides. the government has declared a disaster and is appealing for international assistance. venezuela has sent more than 2,000 to

william dudley of the new york fed. yellen is hopeful she will miss nothing at the jackson hole meetings. we are thrilled to have quincy crosby with us. she's hopeful. she can get to the week looking at more fed speak and getting into september and december. did you change your call this week because of stanley fischer, bill dudley or any of the other cast of characters? quincy: no. we have been talking about september. talking about distemper, -- december even october. yellen wants to list off assuri ng everyone, do not worry about this. i am patient. i'm gradual. do not look to the past. we do think she wants a press conference. however, it was interesting that bill dudley, after hearing about china -- and by the way, my view is this is a very close-knit group. central bankers talk to each other. the imf. that is the reason. knew about this. i think the central bankers do about this. that they were going to do this. the timing is probably august when things are typically -- tom: i like your idea of october. find a win

markets. 4% dow also rose almost after william dudley said recent turmoil has weakened the case for anise next month. however, china stocks extended their steepest five-day drop since 1996. the shanghai composite closed 1.2% lower on wednesday -- 1.3% lower on wednesday. chinese equities have lost half their value since june, amid rising concerns about the deepening slowdown and beijing's inability to turn things around. trillion dollars stock selloff is hitting ipos in hong kong. they were the worst performing this year, and everyone from --ckrock to you tongue blackrock and others are taking a beating. many upcoming ipos may find it harder to raise money. let's check in the markets in asia right now. where we ared, seeing an extension of games. some confidence here. new zealand dollar spot is recovering. cents is your level right now. also coming down -- counting australiae opens in and japan. japan, we saw the biggest rise since october 2011, climbing 3.2%. check out chicago futures on the a 400 pointting to at the start of the session. the dollar yen is at 120 spot 14 -- 120.14. th

there is also big talk, of course, that william dudley, president of new york fed in jackson hole saved the day because he said, less compelling. he said a lot of things. this goes back to the roar shack nature, whether it is a statement. there were a lot of things that mr. dudley said. that was the one that was keyed in on. the point of what i'm saying, there is an adjustment process between risk and reward because of normalization at the fed. it is going to keep going on. does that mean that we are not going to see any down side in stocks? all i can tell you, the credit markets, the 30-year bond, augered the entire process there was going to be some limit to that down side. they prove to be the correct leader here. everything being reverted. look at the two day of tens. look atten aaugust 3rd of tens. we are getting back to somewhere where we were. look at boon deals. same thing. back into the low to mid-70s. if you look at the difference between bunds and 10s. is it temporary? look at inventory and gdp. it was a big historical positive. it is the demand for the widgets. whether we ne

the president of the new york fed william dudley said a september rate like had become less compelling because of china. we'll see what the data turns up, before they meet in mid september. there is a crucial jobs report out for friday, with the release of the monthly jobs report. >>> patricia sabga, thank you. asian markets starting another week down. chinese market going down another 3%. according to state media a financial journalist confessed to causing panic and disorder on china's stock market. no details on the punish many given. >>> nation gathering 250 advisors to figure things out, government is banking on it working but as froikd veronica a reports. >> external demand is declining. export figures are expected to come in negative this year. production output contracted too. the shoppers we spoke to said they are concerned. >> i annal personally teacted by slow economy. i'm also a seller. i can see the drop of sales. >> a slower economy does affect my family and me. we try to be economical and spend only what we need. we don't dare to buy much. >> these are some of the ingredi

upbeat comments here at home from your credit president william dudley and now let's take a look at what is moving everything here. an inside look with mike ingram at pgc partners joins joins us by telephone this morning in london. things are looking much better. can they hold? the first day we had an up arrow, it doesn't matter unless we hope then. what happens now? >> the snapshot for it today you would have to say the rally across the board. on your show a couple years ago china would have problems rebalancing its economy. i think we've seen clear evidence over recent weeks and it ain't anybody thinks we see the endgame as far as chinese currency is concerned. that could be mistaken. it remains conflict in that late overvalued. what china did earlier in the week and also policy rates. ultimately it just exacerbates overinvestment and of course it further undermines currency and the reason they cut rates was because they had to train the quiddity to defend in the first place. to some extent they are shooting themselves in the foot. confidence is key. it's not looking very stable at hav

morning. >>> tough transition but let's get back to the markets here, new york fed president william dudleyke earlier today. we made a lot of focus about the fact that he said rate hike in september looks less compelling. that was the big headline. he also said something pretty significant about the global sell-off. >> what we're see something not a u.s. problem. this is very different than the financial crisis. the financial crisis was very much about us. subprime mortgage lending, securities that turned out to be highly tomic that was about us. this isn't about us. this is about developments abroad. i think we have to assess how those developments abroad could impinge on us. >> it's not us, it's them. one of you were saying this earlier. does it give you comfort that we don't have to worry so much about what's happening in china? >> it doesn't give me comfort. i'm of the camp that believes that the fed needs to raise rates soon and probably josh and jon are going to disagree with this. i know there's no inflation. i know china is looking very messy right now. our problem is it's been how

we've seen this rally in part because william dudley over at fed, guess what, looks like we're not getting that rate hike come september. it is quote, less compelling. what does that mean you need to do? how worried should you be about the future? is this opportunity to get in? jim grant of grant interest rate observer is joining me. jamie cox, steve moore, heritage foundation and nicole petallides on floor of new york stock exchange. and, nicole, it has been quite a few days for those guys. what do they think? do they think this rally, 332 points, will hold? >> that is the whole thing. to your point, trish, yesterday you did this exactly right, we were up over 400 points and ended down 200. traders say this rally means nothing unless you hold it at the close. you have sold off six straight days. we've been down 1900 dow points, loss of 10%. the question if it holds. you mentioned dudley who says less compelling for rate hike in september but still wants it this year. traders advice to regular folks, basically if you have new money, don't put it to work. don't guess the bottom. forget it.

but william dudley came out and said, i don't think so. maybe a little bit later than september. that became a real propellant for this market today. >> so you want the federal reserve to raise interest rates? >> this is a huge mistake. they should have raised rates months ago. i don't know why no one -- we are on this network talking about what -- some of us are -- that this is a terrible policy, that they should have done this even last year. but how can we have this unsustainable inane monetary policy where we have the fed snapping up assets, keeping these interest rates low, what good is that doing when we have this hostile fiscal policy and -- >> wait a second. the world is slowing down. the united states economy is very weak. why would you raise interest rates at a time like that? >> what is happening right now, stuart, is not sustainable. the fed wants to have this target 2% rate of growth. that's not going to happen. if we have this target 2%, that's actually going to take away income from people over the next 32 years. so people are actually losing money if we have this

one reason are to the optimism today, new york federal reserve chair william dudley basically said thatn september you will not see a rate hike. that is what heavily implied in any case. he said, dimmed amid rising concerns about events happening outside of america's borders, that is of course, in the context of this supposed or potential september rate hike. my next guest says, he is already made his decisions. he bought in fact 100,000 shares of facebook on monday. social networking company was down 10 8%. today up 5%. billionaire investor jeff greene with me on the phone. jeff, thanks so much for joining us. we're glad to have your perspective especially this week. obviously you went, you found names, tech and media names you're interested in, long term. you bought them. did you get a good enough deal? >> when you get market like this, when there is sale before christmas. if you are looking of thinking buying a certain suit or sports coat or pair of jeans and wanted to buy it and suddenly 30% off you go and snap it off. if you see a ugly purple sports coat that is 50% off you shouldn

yesterday william dudley, an influential man, said new there is a less-compelling argument. what is he talking about? >> well, it really is a crucial decision moment for the fed. they've had interest rates at zero for basically seven years now in an effort to try to get a badly beaten up economy growing normally again. when you look at things like the unemployment rate, they succeeded. it's down to 5.3%. that looks normal. you have these abnormally low interest rates. so almost all the officials on the fed have felt all year that the time would be right by the fall to start raising interest rates up from zero. what changed in the last few weeks? well, one of the things that's not normal is the inflation rate. it's still too low for the fed's taste. what we've seen, we know a couple things. the price of oil has fallen. the dollar has gotten stronger and some things will get cheaper and inflation will go even lower. so it looks like a tender time in the financial markets. those two factors suggest it's too soon to start moving interest rates higher. >> woodruff: you do have th

obviously, the biggest focus is william dudley speaking at 10:00. the speeches are getting to be so important. i feel like they're going to start breaking into the soap operas to cover them. tom: are you calling as a soap opera? hold my hand, vonnie. oh, it's terrible, we're all going to get divorced. >> it has a fever. there's only one cure. cowbell.is more you called it yesterday. vonnie: christopher walken is here. tom: i can't do it, and virtually. , what is knownte as a retest in the technical analyst mexican -- lexicon. running a good portion of the global analysis. i look at all of this link to the real economy and real fears about global slowdown. in the last four days, what has changed about the new medium? >> normally, through linkages across two countries. one is exports and imports. from that perspective, china is not that important for the u.s. u.s.what about here in the as we go to the jackson all meetings? deadly today, becomes very important for this has been internalized by the today, becomesly very important for this has been inter

william dudley of the fed sends a gift. exhausted bears are: this er this -- are calm morning. first, michael regan of bloomberg news on what we have served in the trenches and overnight. i'm not a big believer in volume analysis. was there a lot of volume yesterday to make a slip? >> absolutely. this is been the line on wall street for a long time. it is good for the exchanges. it is probably going to be good for the markets. tom: is the consensus all clear? and others were on twitter gaming the idea of a new leg down. what is the strategists' feeling? bullish.wls are still no one is really slashing the forecast yet. tom: there we were with nirvana at 17,000. down we go. there is that gap drop. technical ananias -- analysts make a big deal about it. we have really barely come back from the carnage of that day. the gap is when you have a closing print. people thought we are bound to retest the low, but it happened so quickly. tom: somebody who is looked at retest is the chief financial officer. is it any easier to be a professor one year on? pasta can use last year syllabus. --

before jackson hole, william dudley had things to say, stanley fischer had things to say.m janet yellen, which i found funny. i knew that richard fisher was going to make the key speech, which he did do. mark carney endorsed it and said, i do not care what happens in china. exposure to china is pretty limited. exports of about 15%. ,he thing that surprises me maybe we will cut them now, inflation is nowhere. it? but that is now, isn't they are all saying that inflation will be up in two years. thed on a perception that economies are recovering. therefore, we will see wage growth and that will feed through into domestic inflation. david: i trust that you are right. china is clearly a problem. they have been extremely economical with the truth. 3%,rowth is any more than they would be amazed. that has an effect on the rest of asia. not being disrespectful, but abenomics is nonsense. it does not work. we have had it for two years. nothing has changed. nothing will change. you have 125 million people living on the east and south coast of japan. they live in dwellings much the s

and we got some fairly dovish comments from william dudley about where the september was in the cardsas less compelling, it seemed, following the volatility. we saw a late rally in the u.s. markets. from wall street to wyoming -- it moves from u.s. equities to the fed rate timetable. central bankers in leading economists had to jackson hole in wyoming to talk about inflation and monetary policy. janet yellen will not be there but expectations are high that stanley fischer will shed some light on the fed interest rate increase. we will bring you the latest from the rural escape that is jackson hole -- beautiful scenery guaranteed -- throughout the week. we will be speaking to the kansas city federal reserve president, playing host over at jackson hole. at 11:30 london time. stay with us for that. that takes us to today's question -- you will find me @annaedwards. is this the kind of thing that the fed needs to rise above? get back to some new normal as quickly as possible? effects associated with falling stock markets means it is justified to talk about delaying the interest rate tight

obviously, bill dudley, stan fisher, very close dialogue with janet. john williamsn francisco fed. perhaps from the dovish camp and people paying some attention to, i think. she will be -- she is not out on the dovish extreme of this committee at the moment. she is more in the center. >> you know, you heard the word transitory used and a fed president's favorite words to suggest it's temporary. when's the shelf life on transito transitory? because we haven't seen inflation back to the target. so forget the markets for a moment. they have an excuse in the fact that core inflation is 1.3%. way below their 2% target. >> so i think that's really absolutely on the nail. right? because if we were seeing wages accelerating, if we were seeing core pce accelerating or say core services inflation which is pretty insulated from oil or the dollar, accelerating, then there could be quite a strong case for these effects but it's awol. there's no sign of the domestic inflationary pressures arriving on schedule. will they arrive some day if unemployment continues to decline? yes. b

fed chairman, william dudley that an interest rate rise looked less compelling in september. good chance to pile in and buy stocks that had been beaten down. but the actions in china have helped. shanghai up at 2%. there has been a little bit of volatility. but it looks like yesterday in shanghai. the markets are swinging around a bit but nothing like this week. shanghai was down 20% over the past five days. the calm is returning, rosemary but no one at this stage can say with any degree of certainty how long it will last. >> that's what i wanted to ask you whether it signals an end to china's market woes for a little bit perhaps. but what about the current economic troubles of the country? >> we've seen this before, this -- which turned into a lull, a calm between storms, when the market came off sharpry after in july, after peaking in june, there was massive falls in shanghai which were only stopped by a lot of government intervention that the company directors were hold they were not allowed to sell shares. companies took themselves off trading. that stopped the fall in sh

first officer william records, who has logged 20,000 hours of flying time, is at the controls. with him second officer dudleyh 15,000 hours and captain al haynes who has logged 27,000 hours, 7,000 in the dc10. on this picture perfect midwestern summer day with three highly experienced pilots in the cockpit it should be an easy flight. >> scattered clouds, good visibility, smooth air, very fortunate weatherwise. >> as we're flying along and everything is as smooth as can be and service is falling and working well as a team, out of the blue here comes this explosion. i mean, it was a huge loud explosion. >> but passenger rod vetter, a seasoned traveler, isn't fazed. >> my first thought was a bomb went off. then i realized that it hadn't depressurized so it wasn't a bomb, and then i realized it was probably an engine blowing, and my first thought was, okay, we got off a little late maybe and we're going to get right on chicago because a dc10 can certainly fly with two engines. >> the explosion happens at 3:16 p.m., an hour and seven minutes into the flight. the jumbo jet is at 33,000 feet over alta, iowa. after

dudley in about eight minutes. oil inventories in a little bit more than a half hour. we'll get to stop trading with yim jim in a moment. it took serena williamso master the two handed backhand. but only one shot to master the chase mobile app. technology designed for you. so you can easily master the way you bank. no student's ever been the king of the campus on day one. but you're armed with a roomy new jansport backpack, a powerful new dell 2-in-1 laptop, and durable new stellar notebooks, so you're walking the halls with varsity level swagger. that's what we call that new gear feeling. you left this on the bus... get it at the place with the experts to get you the right gear. office depot officemax. gear up for school. gear up for great. >>> time for cramer and stop trading. >> dow is nicely down 100. i like that. let it come in. accidental high yielders. eaton came in today at 4%. ge yesterday at 4%. and i want to focus on procter. look. i know procter is going to miss the quarter. they're not doing that well but they have a lot of levers and a good balance sheet. they can break the company up and the yield is 4%. buy procter at 4% and pu