william dudley: i would say -- we are looking at later this year., not a commitment. deutsche bank is to sell u.s. private- its clients. raymond james is in talks to buy the business. costs, lift capital levels and raise the stock price. the world's biggest toymaker, mattel reported a third quarter profit that lifted estimates. revenue fell to just under $8.4 billion. ie continue to decline. the company's turnaround plan has focused on reviving sales of barbie, it's largest brand. never forget ken. ken, barbie. nobody ever talks about ken. right, it has been a downbeat almost unanimous bearish sentiment among those in the metal and mining industry. it is linked to the economic slowdown in china. and here is what people in the sector told bloomberg. >> they are a series of players on the marketplace which are using copper as a prophecy for the chinese economy and tkaing position.king some it can be a dangerous game in the medium and long-term. at some stage, we expect the market to move into a deficit. you do not want to have a short position when th

track, thistays on is according to william dudley.he maker of budweiser plans to sell up to $55 billion of bonds to take over the biggest consumer deal ever. downgrading brazil, cutting the one leveltriple b, above junk. the brazil outlook is negative. the move reflects the countries rising government debt burden. you can always get more business news at bloomberg.com. to the ipo market and the biggest ipo of the year so far, trading, shares of first data have been slack. actually down 1% now. that was below the target range of $18-$20 a share. today, we spoke to the first data ceo and asked why the ipo price is so low. >> very company that is taking a very long view. client an unbelievable base and unbelievable investor base and we feel very good about the future. i think it's important we took this next step on the journey, the step of continuing to grow the company and continuing deleveraging and continuing to refinance it. betty: joining me now with more on the challenges facing first ipo reporter alex. should they have waited? al

while you listen for from president william dudley? mr.: there's a lot of short-term noise we need to look at. job creation and wages, also a liquidity in the market, he believes that liquidity has declined despite what the market is observing, that trading is harder. these are clues to look for. the big picture is that we have cut rates over the last seven or eight years because debt has gone up in the last 30 years or 40 years. debt is not going down and it is hard to normalize policy. despite one or two hikes, i think we are going into an environment of qe infinity. tom: why'd do you not think you'll use the phrase qe infinity in his speech on november 12? mr. gallo: the fed is telling you that qe is working that you can fix a problem with a cyclical tool. we are is more honest, trying to fix problems we did not create. we are reacting to problems that others have created. it is more realistic. is with us. gallo full disclosure, william dudley did a chapter in my book years ago. coming up, the chief executive airlines andng at the inabi

william dudley says he still favors a rate hike this year. mesticsee economy performing pretty well. the housing sector is recovering and investment is rising. david: dudley also said that some economic news shows that the economy is slowing. she us now is denny blanche lancheflower. we see no inflation, we see poor retail sales. it is worrying. interesting thing that dudley actually said is he talked about whether he wanted to raise rates based on what he thought was going to happen. but he said something rather telling, he said it was a forecast and not a commitment. there could be a 30% raise in december and i inc. -- 30 in december and i don't think they are going to raise rates this aar and the fed has become bit more bullish was the membership will change in january. david: i just want to take a look at my terminal here and gauge a look at those increase changes. 39 and 53 int march, so that is a take on what economists are thinking about. taylorbill dudley with and bill dudley rejecting the taylor rule out of hand. i think that is right

william dudley, president and head of the new york federal reserve bank and when asked about negative rates and quantity takive easing, he didn't exactly have the same answer ben bernanke had with john a couple of days ago in an open forum. >> since it's always changing, and there are no rules, okay? we had a rule. handle on the percent of unemployment. the unemployment rate, of course, that changed. >> what really caught my eye, kwaupt takive easing and negative rates shouldn't be part of the conversation now, and i'm paraphrasing. that pretty much captures it. it also captures, i think, why i have no confidence that this group is going to ever pull it off. all others had been sloppy except for one. 2%. that's built in stone because maybe if you got a little bit closer or tested it, it would change, but it hasn't. here's my motto. short and easy with regard to that. okay? if we have 2.5% gdp gloet, my guess is you're going to have half the normal rate of price appreciation. growth and pricing pressure in a global economy where we're trying to control a little piece of it isn't going

. >> next, federal reserve bank of new york president and ceo william dudley and stanford universitynomics professor the taylor talk about monetary policy choices of the federal reserve and the metrics used to guide those policies. therated by david wessel of brookings institution, this is about an hour and a half. david: good morning. i am david wessel, high-end drafter of the hutchins center on fiscal and monetary policy here at brookings. i welcome all of you. the purpose of the hutchins center on fiscal and monetary policy is to help improve the quality of fiscal monetary policy and public understanding of it. we come together at an interesting moment for the federal reserve. interest rates have been at zero since 2008. now they may be about to rise or maybe not about to rise. i think it has raised a big question about what is the framework that the fed uses to make policy. i think everybody agrees that they need something better than the economic equivalent of looking outside and deciding if today they should bring an umbrella or not. we thought this would be a particularly good

new york fed president william dudley saying in a speech today, a rate hike this year.owever, he does warn that the economy may be swelling. come on. you had an opportunity. two years ago. now, you are trying to play catch-up. i don't know if they can do it. i am making a point here. these alice in wonderland days seem to be back with us. i do not know if you can really interpret them. they seem to want to have their cake and eat it too. >> i think that you are absolutely right. they are supposed to advocate transparency. they are injecting more uncertainty into the markets. a lackluster consumer spending. jobs. inflation. the bottom line is, the clash. should i stay or should i go. they will not make any decisions until the data is right in front of them. i think they should have raised rates in september. trish: i have been saying that for two years that they ought to raise. it is by no means great. we are in a where we could be spiraling down, thanks to china, thanks to the global situation. a continued lack of growth here in the u.s. charles: reading some of those f

we will hear from william dudley, head of the federal reserve act of new york. it is at the brookings institution at 10:30 eastern. [no audio] >> known as the city of good neighborhoods, this weekend, a c-span cities tour joined by time warner cable explores the history and literary life of buffalo, new york. visit thev," we will mark twain groomed at the public library, whose pages are the manuscript -- choose manuscripts of the centerpiece. then we will feature "against the grain," about the history of buffalo's first war. >> the irish settled in this neighborhood because they were desperate. they came over across the atlantic in the famine. it would take maybe one relative to find out about these plentiful jobs along the waterfront working in the grain elevators are the mill. word would go back to ireland -- come to buffalo. you wanted to become rich, but you would have steady employment. they came to this neighborhood called the first ward. it has its name because when buffalo first was created in 1832 as a city, it was divided into five political wards. thi

the current head of the new york fed, william dudley, is a former goldman executive. u.s.military officials scrambled wednesday to capture a billion-dollar unmanned surveillance blimp that broke free of its moorings in maryland and drifted across pennsylvania, downing power lines and knocking out electricity for tens of thousands of residents. the blimp has the capacity to surveil a region the size of texas. built by military contractor raytheon, there are only two of these blimps in the world. each effectively costs $1.4 billion. the u.s. military has another surveillance blimp of a different model that floats over kabul at all times. an african american u.s. citizen has applied for asylum in canada, saying he fears he will be killed by police in the united states because he is black. 30-year-old kyle lydell canty argued at his immigration hearing in vancouver that black people are "being exterminated at an alarming rate." he cited the deaths of michael brown and eric garner as evidence. he also said that he's lived in six u.s. states throughout his life, and that in ever

york fed president, william dudley, london fed president james bullard and loretto mester speaking today. we try to understand this way the conversation coming from the fed at the moment. next, on win the hike will come -- on when the hike will come. goldman sachs and citigroup reported third-quarter results today, they are due at 12:30 u.k. time. citigroup is due at 1:00, u.k. time. guy: bank of america has the profit rebounding and the third quarter. in an interview with brian moynahan, they said the fed hike would boost earnings for the -- for the. >> in the u.s. it would be raised to 3% 10 year treasure rate. we make 4.6 billion pretext per year -- pretax per year. netflix gained lost ground. what does netflix blame for this ship credit card? -- chip credit card? ♪ anna: welcome back. here are the stories you need to know. guy: walmart suffered its worst stock decline in over 20 years. the retail giant says earnings will fall the next fiscal year. analysts had estimated a gain of 4%. anna: david cameron will try to of his renegotiation of britain's the bishop of the european union on

new york fed president william duddy -- william dudley is committed to raising interest rates this year recent economic you -- economic news suggests the economy is slowing. what does the latest wave of violence do when it comes to economic growth question mark alix: big gains in the oil did not last long. crude futures are heading for the worst week since july with concerns about oversupply that will not go away for -- go away. scarlet: let's had to the market desk where julie hyman has the latest. julie: when you have these earnings-driven days, you have the individual stocks moving a lot but not a lot of overall consensus. we are seeing gains across the board, but we are looking at right now.e session take a look at my bloomberg terminal to see where that strength is coming from. care, and, health utilities doing well. but a pretty broad-based strength here as we had about the session. if you've ever wondered what determines the size of the pie, it's the waiting in the s&p 500. slice likeve a big technology that accounts for about 1/5 of the s&p, it's rising overall. it definitely le

. >> cnbc delivers an exclusive interview with the new york fed president, william dudley later on theat there will probably be a rate rise this year? why pause to take a pill? and why stop what you're doing to find a bathroom? cialis for daily use, is the only daily tablet approved to treat erectile dysfunction so you can be ready anytime the moment is right. plus cialis treats the frustrating urinary symptoms of bph, like needing to go frequently, day or night. tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain, as it may cause an unsafe drop in blood pressure. do not drink alcohol in excess. side effects may include headache, upset stomach, delayed backache or muscle ache. to avoid long-term injury, get medical help right away for an erection lasting more than four hours. if you have any sudden decrease or loss in hearing or vision, or any symptoms of an allergic reaction, stop taking cialis and get medical help right away. ask your doctor about cialis for daily use

new york fed president william dudley saying that recent data suggests the economy is slowing just ait, delaying a right hike, and saying it would impact not only the united states but international markets as well. seema mody has been taking a look at that, and, of course, the ripple effects go far and wide. >> there has been an active discussion around the fed delaying the rate hike and the impact around the world. emerging markets obviously it's good for them. let's focus in on -- >> the idea there would be a delay. >> exactly. let's focus though on europe and japan because many economists say it would be a negative for them. let's walk you through it. if the fet dodead does decide t delay, there's a good chance the dollar would weaken further and a higher chance the euro and yen would strengthen. that's bad news for these export-oriented economies that rely heavily on the weak currency to spur demand. as to that a drop in commodity prices which we've been seeing would continue to push inflation down. weaker growth and deflationary pressures would make it more likely that europe a

i'm not talking big time, but higher than last week and then you had new york fed president william dudleyiesman is rate hike still not out of the question for 2015, also downplayed the weak jobs report saying you can't go by just one month. what affect will that have on home buyers out this weekend. >> i have been talking to real estate agents and they tell me they expect to see good crowds this weekend. there is still very tight inventory on the market and prices are certainly higher, but they are seeing very strong demand. several surveys in the last few weeks, in fact, have actually showed renewed consumer confidence in housing. while these small interest rate moves don't move the needle that much on a monthly payment, the prospects of rates rising in general does tend to get those on the fence off the fence and into a house. back to you. >> historically, diana, isn't this time of year from october through the end of the year, maybe even into sort of super bowl time, isn't it a slow time for mortgage rates, a downtime traditionally? >> it is a very slow time. so this is kind of the las

. >>> new york fed president william dudley making headlines in an italian newspaper.rly to think about raising interest rates. he said concerns about global economic growth. aetna and humana shareholders will vote on a merger today. this deal is supported but even after investor approval there's major regulatory challenges ahead. >> let's talk about the u.s. debt limit. congress needs to act to raise the debt ceiling from the current $18 trillion. jack lew is the secretary of the treasury and joins us this morning right here on the set. great to see you. why is this -- we know how this movie ends. we've seen this movie. there's this cliffhanger. it's not a cliffhanger because things come together. are we wrong this time? >> i certainly hope you're not wrong but it's very important to remember only congress can act to raise the debt limit. i will have used all the tools that i have as of november 3rd and then we're operating on cash. think about it. we have a government of the united states, $400 trillion enterprise where swings of a few billion dollars whether you hav

dudley road. crash there. 95 south at prince william parkway. another accident, big look at the beltway.ically slow here. inner loop as you're coming across the woodrow wilson bridge. we had the earlier problem there. looks like that is steered out of the way. slow in that area. wanted to show you this again. bw parkway coming across the beltway here, it is slow because of that earlier problem there that is still kind of sticking around at annapolis road. 270 at montrose. northbound and southbound no major issues. overall prince georges county looking pret typical. >>> melissa, thank you. 6:54. developing right now, an investigation into a shooting that left an nypd officer dead. officer randolph holder was responding to a call of gunfire when a police and suspect started shooting at each other latz night. holder was hit in the head and died. police caught the suspect who was taken to the hospital. he is expected to be released today. not clear what charges he'll face. >>> local members of congress are working to keep i safe on your next metro ride. they want to make sure that the federa

bernie williams and the all-star band, let's hear it. winner, we have a tie! [applause] we have a tie. lisa polizzi and dudley alexander. congratulations! [cheers and applause] here you go. and this is for you too. congratulations. you guys are all great. we're having a wonderful time on this program introducing nutall lent to new york. you're a part of it. i want to thank our wonderful band, bernie williams and the all-star band. fantastic. our studio audience, our panel of celebrity judges, you guys are great. those of you at home, thank you so much for watching. tune in again next week for new york's star of the day, your show on fox 5. thank you. [applause] were right now on fox 5 news at 6:00. >> hurricane joaquin is moving out of leaving behind not mess on the east coast. >> we are tracking the storm. morin the storm in a moment the breaking news to tell you about. before one person has died and several others injured in a gas explosion in brooklyn. arthur i can is on the phone with the latest. >> reporter: the one who died in this explosion moved in a week ago. let's go to the video that shows you thir