seen as hawkish and less accommodating to quantitative easing and future interest rate hikes than yellen trump has said previously that he would consider renominating yellen but he also is looking at other candidates including kerry collins the head of trump's national economic council.

seen as hawkish and less accommodating to quantitative easing and future interest rate hikes than yellen trump has said previously that he would consider renominating yellen but he also is looking at other candidates including kerry collins the head of trump's national economic council. and case capital is said to be shuttered chief whitney tilson says that high prices and complacency it's currently prevailing in the market and he does not want any part of it on sunday he wrote to clients historically i have invested in high quality safe stocks at good prices as well as lower quality ones and distressed prices however my favorite safe stocks like berkshire hathaway and monta lays don't feel cheap and my favorite cheap stocks like hertz and spirit airlines don't feel safe hence my decision to shut down other notable funds that have gone out of business this year include part capital management and passport capital tilson says investors capital will be returned to them at its peak case handled one hundred. million dollars. is the era of the data portfolio selling data to feed hedge fund computer

-- janet yellen. trumpnd i respect her. said yellen is among a lot of good people being considered to run the central bank after her current term expires in february. --ef economist at many life maulife. -- manulife. is there any chance that trump would put a hawk in place? he likes to -- the accommodative monetary and the weak dollar. reporter: the decision comes up a lot in my current role. i think ultimately what is important that the trump administration is in a position to actually really shape a number of key positions on the board including janet yellen's chairmanship. that is the most important issue. the people who seem to be likely to be candidates for yellen's job are dovish. policy really shifts off the back of this appointment. i have real doubts. it seems unlikely he will put a hawk and. gary cohn i still think is in the front running even though he had a test president trump three at they could make up your nose. kevin works is in the -- kevin wasr -- warsh is in the running. guy: does the fe

janet yellen and about the trump held a meeting on july 17. ording to yellen's public schedule. eight days after that, the president told "the wall street journal" that yellen was in the running for a second term. janet yellen declining comment on if she would like to stay in the job and while donald trump has not said anything publicly signal he has sided against what bloomberg expects, to pick someone else. we have the implications and where the fed goes next. steven major is still with us. do you pay attention to this stuff, in terms of your thinking? yellengot janet potentially going, fisher potentially going, a bunch of other opportunities to place -- replace people on the fed. how important are the people, the unknowable aspect of people's decision-making in how you are thinking? stephen: unknowable and uninvestible. i guess we worry about personality shift, that is the current one which is why we focus on that. what was happening at the start of this year when i was in a our chief with economist, we floated the idea that maybe mrs. yelle

president trump to intervene in a dispute between boeing and bombardier they're lobbying fort the government to drop the case. theresa may intervened to prevent potential job losses >>> janet yellen had breakfast with u.s. president donald trump's daughter and adviser, ivanka, in july. that's according to a publicly available schedule the two met just before president trump said yellen was, quote, in the running for another term yellen's current term expires in if he february, though president trump has heavily criticized her in the past. >>> france is bracing for a day of protests and strikes against president macron's labor reforms. about 4,000 strikes have been called macron unveiled a plan to loosen labor regulations last month and the government is set to adopt the measures on september the 22nd clause regeling says he's confident the french president can deliver labor market reform. speaking to cnbc earlier this morning web added the new leadership team is galvanizing the entire euro area >> it's not only growth. the political uncertainties that existed earlier in the year have to a large extent disappeared. we have some inherit strengths in the euro area, like better econo

trump was in florida today, where he toured damage caused by hurricane irma. aboard air force one on his way back to washington, he was asked about possibly replacing fed chair janet yellenent trump i respect her death and like kirk -- president trump: i respect her and like her. we haven't made that decision yet. mark: tropical storm mark is forecast to make landfall today along the coast of a region that includes the resort city of acapulco. for the first time in 300 years, barbuda is completely uninhabited. that's according to "usa today," antigua'sbuda and ambassador to the u.s. mexico is threatening to walk away from nafta if the u.s. initiates proceedings for withdrawal. that's according to the country's ambassador to the u.s., who spoke at an event for politico in washington today. >> we will not remain in -- at the table should article 2205 the invoked, which basically allows any part of the agreement to notify the others of its intent to retire. mark: brazil's attorney general office has charged michel temer in a case that could suspend him from office for up to six months. the president has repeatedly denied wrongdoing. global news, 24 hours a day, powered by m

and attention now turns to fed chair janet yellen president donald trump has hinted at possibly keeping her at her post rather than naming a new fed chair congress already faces a very crowded agenda this fall it needs to raise the country's borrowing limit reach a budget agreement to keep the. when operating and plans to take up complicated tax reform. canada's government is facing international criticism for not being clear on its stance when it comes to nuclear weapons prime minister justin trudeau is that liberals are seen as soft on key issues like nuclear disarmament in the same breath they are asking for action against north korea and response to its nuclear program artie's out some highly veges in toronto with more alex north korea and they're actively working on its nuclear program what is canada saying about the current situation on the korean peninsula however it is kind of wondering what is canada actually saying i mean it's a state right now were foreign policy can't be taken too seriously in fact this is showing a weakness in canadian foreign policy it's soft in the sense

with a lift from yellen and trump's reform plan.irmer dollar weighing on asian policy. getting ahead of the central bank decision expected from thailand today. despite having advanced 8% this year against the dollar. wonkorean yen -- the korean down. we are seeing stocks in taipei leading the region higher. that is the market snapshot as we had for the day here in hong kong. emily: this is "bloomberg technology." i am emily chang. in a bid to expand its a sluggish user base, twitter is testing out a big change, having to do with its famous 140-character limit. in a statement, the company explained, "we want every person in the world to be able to express themselves on twitter, so we are doing something new, we will try out a longer limit -- 180 characters." we're now joined by selina wang and still with me in new york, david kirkpatrick. a limited test with a small number of users. how is this going to work? selina: with a small percentage of users globally, they will let them use up to 280 characters, twice as much as the current 1

reporter: janet yellen met with donald trump's daughter and advisor ivanka in july. that is according to yellen's public schedule. eight days later, the president told "the wall street journal," that yellen was absolutely in the running for a second term. most economists expect the president to pick someone else. global news 24 hours a day, powered by 2700 journalists and analysts in more than 120 countries around the world. you can find more stories on the bloomberg at top . still some very risk on sentiment across asia today. we are think japan's nikkei index hold on to the solid gains they had yesterday, up another one point to present. a little flat in hong kong. and the asx 200 being boosted by generally firmer metal prices. banks in australia also doing well. a bit more coming into the south korean market, holding about the kospi. the a lot of the apple supply is based in asia and tech stocks are rallying. geely auto is doing very well at a 24 year high. this is on the back of what we heard from china over electric vehicles over the weekend. these lithium pr

mine for years, his name is in the mix, could be the default candidate that trump pix because i just don't know how you keep yellen in there if she's defending post financial crisis reforms that donald trump said he wants to get rid of. liz: neither -- taking neither side on this one, we know president trump is very interested in getting rid of regulations or not making new ones. for her to have brought up that, the proverbial nail in the coffin, but then we have four seats empty on the fed. >> right. >> and by the way, i'd like to see who they put in the seats. it will be interesting. back to monetary policy, what we don't know is gary cohn, kevin worsh, are they committed to unwinding the balance sheet faster than janet yellen. do they want to do it faster? my guess is that trump loves easy money, he's going to unwind it. she's on the page with him in terms of unwinding the balance seat. if you start unwinding it, you sell the securities you bought from the banks when you did quantitative easing, if you sell it out, there if you do it faster, it's going to have depressive impact on monetary policy. she's on him,

francine: i read a story about janet yellen and ivanka trump having breakfast together in july. an interesting meeting. janet yellen having that type of meeting and this is frequent with her and she has done this time and time again. lists and lunch with people like senator warren as well. it is an opportunity for them to get to know one another. interesting to see what janet yellen's political future will be. thelatest report about federal reserve chair and who will replace or has a list of six people. it is early on in the job hunt. vicious overwas so that lunch talking about nominal gdp and xyz space. .hank you so much he disappears in august. you would think he was having a average of his choice and making the party circuit. that would not be, dr. ian bremmer. inre will be a book out april. it has a global feel to it. he could have written a book on the american national interrelations. what is the distinctive feel of the new president? what does the new president need to do to drive forward international responsibilities? >> you go around the world and it is very clear that

word, where donald trump has to fight congress and the senate and all sorts of obstacles in order to pass some of the tax reforms that are being announced later today. clearly, janet yellensed on the economy, the fundamentals behind the economy, and those are supportive of another rate rise at this stage, where donald trump's campaign and also basically peppered with all sorts of political issues, so it is harder for him. guy: buying dollars at the moment? >> the dollar has a lot of support because of the higher rates and shopper u.s. economy. we have seen a bit of a reversal this year about a very strong performance last year. sort of the main other currencies that have benefited have been the euro and some degree, the sterling in the last couple of weeks. is going to get that support again. will she be there to kind of see some of these rate hikes? the fed has four past in. the market is not anywhere close to that. the market is saying that we see the dogs, but you do that, you're making a policy mistake. is she going to cause a recession? >> she revised it down recently. that is the end goal. get theret takes to is very slow. if you look at previous hiking is in the l

yellen. donald trump preparing to lay out his tax plan.terday with gina martin adams, let's look at one of her points of optimism, which is no recession in sight. the 12 monthrough moving average, gloom. we are no where near that over here. francine: this is what i wanted to look at. it goes back to what you were saying and also fold in with what we heard from janet yellen. this is simply put the forecast versus a reality when you look at the pce. the white line is what economists on the terminal predict rates to be and this is overlaid with actual core pce in blue. i will push about for regular listeners, but that's a difference between the reality and what people think will happen, tom. get to mr.'so really, he was not at the president. here is one summary of what happened yesterday. this is a write up in the "washington post." it's a blow, forced to call off cassidy, graham and ray moore who won the alabama primary last night pushing against mcconnell, if not the president. kevin cirilli distills all of this, a lousy day for republican

expected to be the person who helped lead the fed from a transition from janet yellen to a new fed chair, should donald trumpace janet yellen. he appears to be leaving. he does not give a reason in his letter of resignation that went to the president today. he says it has been a privilege to serve and to work with janet yellen. no reason given for why he wants to retire. he has been in this business a long time, served as the governor of the bank of israel and professor m.i.t. for many years, so quite a shock for the federal reserve system and investors and traders of the world. yellen, whor janet apparently commenting, saying he has been invaluable to policy deliberations. implications because he has seen the size janet yellen as the most important you're on the fomc? arty: from another point, donald has another position to fill. this administration has been slow in filling critical vacancies and now he has a that the fed. the speculation about janet potential gary cohn's will now become front and center. they will need to find a scher whont for mr. fich is a well-respected and moderating influence on the b

investors and market folks to speculate about kevin warsh and a hawkish fed policy versus a janet yellen president trump low interest rates. he said he liked a weaker dollar. he wants to borrow a lot to spend on infrastructure. >> there is no question that the fed is going to be raising interest rates both directly by raising the short rate and also by shrinking the portfolio bond, selling more long bonds into the market. so both of those are going to push up interest rates during the coming years. we are going to normalize as they say. we are going to get back to the kind of interest rates that we were accustomed to in the past. instead of the current situation where we have a negative real fed funds rate. >> i hope you can come back and do more wood chopping on taxes later on. appreciate it. >>> quick updateon a story we have been following closely. senior u.s. officials say the u.s. is pulling roughly 60% of its staff out of cuba warning american travelers not to visit due to quote specific attacks that have harmed u.s. diplomats. the u.s. is ordering all nonessential staff in the embassy to leave. o

of the federal reserve bank of minneapolis has back janet yellen for a second term as the fed chair. his comments come as resident donald trump continues to wake you he will nominate for february of next year. >> of think janet yellen is the next one job -- i think janet yellen is doing an excellent job. i cannot think of anybody who is better equipped to leave the federal reserve over the next four years better than her. she is a rare economists with excellent leadership skills. juliette: in iraq, millions of kurds have voted in a referendum on independence. felt.percussions will be more than 30 million kurds dispersed across the border between syria, iran and turkey. brent crude climbed to a two-year high. global news, 24 hours a day, powered by 2700 journalists and analysts in more than 120 countries. this is bloomberg. guy. matt. the: mario draghi says european central bank will keep as much stimulus as needed when policymakers decide to add just there 2.3 trillion euro bond buying program. speaking in brussels, the ecb president 22 uncertainty but the medium-term outlook for inflation as he presented an upbeat picture. >

interesting question ben well who is in the very good position right now is the donald trump or is it is miss yellen because basically you know the problems that the u.s. and also the very weak dollar is having is mostly because of the politics of the on the tram all this war tension that we are seeing right now between united states and north korea also an economy that is not boosting as strong as donald trump one so she doesn't have any reason to announce today higher interest rates and with this we're also going to see much stronger euro and not a strong dollar coming up ok strong the euro weak goal of daniel thank you for your analysis. and i was doing business with you. talk model struck their stuff at the october fence. these splendid horses posing in front of the augustine or brewery are the jewels of the best of all. after their daily styling inspired took a photo shoot. with fans from all over the world. your moment. on the. moon the. german state by state. the most colorful. the liveliest. the most traditional find it all at any time. check in with a web special. take a tour of germany sta

janet yellen's term is up in february of 2018. trumpid he is looking at janet yellen and gary cohn, former president and ceo of goldman sachs. after the charlottesville incidents, when gary cohn spoke out over his displeasure with the president, at least 3/4 telling us this displeased trump. in their story today, definitely three names we know well -- kevin warsh, former fed chair governor, and professor. cean hubbard, head of the and helped designgeorge bush's tax cuts. and larryaylor, lindsey also at the board of governors in the 1990's. also advisor to bush on the economy. then we have richard davis and john allison, former head's a big banks. not surprising trump wants to broaden that the business people. bankers would know more about the fed and monetary policy. saying trump is not yet deeply focused on the fed chair search. think we take this as a direct message. but obviously, looking at a lot of different people now. we still have time to add names to the list. betty: that seems like so far off, given the stuff that needs to get

and i want to show you the change real fast back in july, it was thought president trump would reappoint fed chair yellen and now that's 38% and we also asked should the president reappoint the fed chair and 59% of our 42 respondents, half economist, others strategists and other analyst, 59% said yes, donald trump should reappoint fed chair janet yellen look at what's happened to the fortunes of others nec director gary cohn making disparmging response abo d disparaging remarks after the president's response to charlottesville and kevin warsh, the former fed governor has gone from 24% to being the leader at 34% and jontay lore doubling his chances so all of this is a moving target. i don't know how your group of esteemed traders -- >> forget the specific names. >> why are you laughing? >> i meant esteemed. >> how much of is an issue for the market if it's anybody other than yellen? i don't want to say if it's wa rah sh it's this, if it's cohn is this. if janet yellen is not appointed, does the market care? >> i don't think so, scott. >> that's what this conversation boils down to, and here's why. >> in t

we have heard about tro commentary -- trump commentary about yellen, do we know about his relationshipith fischer and mike is giving the economic perspective on who might be a replacement, politically, who could be a potential replacement? kevin: you have to look at this through the lens of the president's relationship with the gary cohn and he was perceived to be for the last week after leading the effort of driving is going to replace fed chair yellen. with stanley fischer out, the question is will gary still have that influence in creating and shaping the direction of some of the very significant federal reserve nominees? in terms of where this is headed, the president has seemingly had a kinship for theing folks who are from rubin trade of thought and from the goldman sachs community. will sing that was secretary treasury debt we have seen that with treasury secretary mnuchin a gary cohn. we'll have to wait and see. -- we have seen that with treasury secretary mnuchin and gary cohn. andord out a treasury capitol hill is digesting this. julie: we should remind our viewers that presi

janet yellen talking about increasing rates. trump tax plans very much at the heart of things. we will hear more about his 20% plans for corporation tax later. could we see the dollar going higher in the month of september, that is a questioned daily prophet is asking. could we see some strength coming back to the greenback and we have a 70% chance of a rate hike price for december. manus: msci asia-pacific is down. you have a thousand companies in japan that have gone ex dividend. a little bit of a drag on msci. technology has had a rebound with the steeper selloff since november. that is one to watch. tencent and taiwan semiconductor manufacturing the biggest boost in those gauges. toa: we have a lot of data learn about from the u.s. and the eurozone's, plenty on the things are looking flat for the u.s. trading day. the first word news delivered to us by juliette saly. u.s. president donald trump and republican leaders will announce their long-awaited tax overhaul plan today. according to three people familiar the rate on corporations will be set at 20% and businesses would b

yellen insert term. they want to restore the feds $4.5 trillion portfolio and other bonds to a normal level and it is unknown whether president trump will reappoint janet yellen. >>> the stocks modestly higher in the afternoon trading in the tech companies up with the dow jones up by 71 point. down are the oil prices, the crude oil price below $50 a barrel. >>> a new web series taking the comedic look at the displacement of the oakland here is in a way that the creator is hoping will shed light on this serious issue. >> this is an incredibly rare sight. >> reporter: "the north pole" likening african-americans to polar bears, just like they are driven out of their natural habitat by climate change, african-americans in oakland are being priced out of their homes and businesses, forced to leave. >> they felt that the climate in the neighborhood was changing, and for me that hit home, the idea of the north pole and the local community feeling like an endangered species in your own environment. >> reporter: according to the census figures in 1980 47% of the open population, almost half were african-americans with the latest census in 2

is it yellen is it donald trump is it korea? such a waste of time so much money is being made. all you have to do is figure out how much to have at risk and where you want to put your stops if you're more tactical and what opportunities you're developing beneath the surface it, either on a sector or individual name level? but this why the that we're going to put together a list every week and say, all right, this is the next thing to worry about it it hasn't happened the only probably is it felt like there was a shift in momentum. >> no, it didn't. >> yes, it did. >> ilalmost never repeat myself but i like you guys. >> we've not been within 3% of the 200-day moving average. >> we've had hours and hours of video to dispel that. >> to dispel what? >> there are always people who want to say oh, the sky is falling. all you need is a day where the dow is off 100 points and people start talking. >> hold mon. >> 100 points on 22,000. >> to me, just when the moment is hitting records is the very primetime to sit there and think about what could go wrong. >> i didn't say -- >> i didn't

trump's response to the violence in charlottesville in an ft interview. steve liesman will talk to william dudley tomorrow at 1600 cet. that article also says that maybe janet yellen is back in the running. it seems like trump likes her after heavily criticizing her on the campaign trail for keeping interest rates too low we'll see. >>> facebook turned over information about u.s. election ads to investigators probing russian meddling in american politics the company revealed it found an operation likely based in russia spent $100,000 on political ads with what it called divisive social and political messages. facebook says thousands of ads and hundreds of fake accounts were active around the u.s. presidential campaign. >>> south korea deployed more thaad anti-missile systems in ab attempt to protect itself against growing threats from north korea, in a move which has angered china. russian president vladimir putin says the north korea problem can be solved through diplomatic channels and says what he calls military hysteria is counterproductive. that as pressure rises on president xi to do more on the tensions chery kang has the latest. >> reporter: >> reporter: i

trump trade. the dollar being favorable after janet yellen's comments. in on what the asian market open is going to look like. could be favorable for tokyo. but we can see the dollar strength. the big question, what will that be for themem -- the em rally? we see determination from janet yellen as she wants to do this t wo part mission of raising rates at least for december. those rates rising overnight to 70%. we have more ahead on "daybreak asia." the market open in seoul, tokyo in sydney. this is bloomberg. ♪ yvonne: a quick check of the latest headlines. general election is warning that if india dumps a multibillion dollar deal, it could hurt foreign investment and efforts to increase jobs. india could face substantial fees. deal -- theyion prefer electric trains, which e.g. does not make. 3 anden: the new model future versions of the lineup will launch a change which highlights the increasing important -- importance of the tech market. wants to lower its dependence on personal computers. yvonne: the electric car market may have a surprising new play

charles: brian, today president trump actually gave janet yellen a positive shout-out, and i think thatconcern i think there's also a message to the fed, slow and easy, and you've got my vote. >> yeah. maybe. but, you know, i'm going to question this danielle saying the markets are skittish. yesterday we hit an all-time record high in the dow and the s&p, i mean, the markets are screaming. people say, and they have been saying for the past seven, eight years, that they're overvalued. this shiller pe has been high for years. so i don't understand -- charles: brian, in your mind -- >> what's skittish? charles: brian, what's the number one threat to this thrall hi and to our economy? >> yeah. the number one threat is if the government doesn't shrink itself. the good news is, is that president trump -- we already have january to august of this year, government employment is down. last year it was up, the year before that it was up, so that's good news. we've also deregulated, that's really positive. we, i mean, we need tax cuts. tax rates are too high especially on corporations. but the big

president trump has said he does not know whether he will nominate janet yellen for another term at thepects her. president trump has signed a congressional resolution condemning white supremacists and other hate groups. congress passed the measure after a rally in charlotte that turned violent. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. i am taylor riggs. this is bloomberg. francine: thank you so much. the german federal election is 10 days away. week, wolfman sharply, another term as finance minister and angela merkel looking for another term as prime minister. given the implications for the speed of european integration. ofs get back to paul donovan ubs wealth management and huw van steenis of schroders. investors are taking a broad brush, angela merkel will stay put, and europe could significantly change. >> i think so. there is a question about whether he wants to move on to a european role, and with macron suggesting a european finance minister, that is something the germans would be keen to get therir hand s on. they

yellen. in fed chair's term is up february, and trump has made clear that he may not reappoint her. the washington report -- the washington journal reports that gary cohn is unlikely to be the pick for fed chairman. president donald trump is unlikely to nominate him, his top economic advisor, as the next federal chair. mr. trump told the wall street journal in july that he was potentialg him as a successor to janet yellen, whose term expires in early february. that is the latest. tom in ohio, independent. what do you think of the president striking a deal with the debt limit? caller: good morning. president is going to make these kind of deals. you can make a deal with the democrats as long as it has a lot of spending in it, because they like to spend my money. but i don't like a lot of the stuff they spend it on. tom from texas took the rest of my story i wanted to tell. greta, something i would like to see you do -- when everyone calls and, the first thing they need to do is tell you the name of their senator and congressman , and if they don't know the name of their center and co

yellen chose that as her speech topic at jackson hole. she differs on that quite a lot from the administration stands. if you think that may be trump to get a pro-regulatory conform category -- candidate, then it looks like yellen is on her way out and when it looks to who might replace her, what are the candidates you are watching? do not have any disability as to who the trump administration is looking at. are not too many willing candidates wanting to take over at the time's the trump administration will go in. there are talk of the number of candidates. randall is one of them, he could be moved into the chair. maybe other economists that are close to that administration. segue, very eloquently to the fed to the ecb. we had the big ecb meeting on thursday. a think he spoke for about an hour, trying very hard not to say anything specific when it comes to the euro exchange rate. if you take a look at the chart behind me, this is the euro rate, versus the ecb balance sheet. you could see what is giving him so much trouble right now. it is the depreciation of euro, which possibly put some pressure on the central bank to continue in

: coming up, janet yellen brushes aside plans to unwind the balance sheet and teases out rate hikes before the year-end. deliverrea threatens to a hard-line response to president trumpoxy, heavy for a debt loads continue to haunt retailers. why unwinding a $4.5 trillion balance sheet is apparently nothing. >> i imagine janet yellen is doing cartwheels behind the scenes at how well the market has taken the balance sheet reduction. >> they say this will be very boring. it is all preannounced. it was all very transparent. there was no surprise in the announcement yesterday. i think we will be watching quantitative tightening in slow motion. >> i think she is trying to do as little as possible. she introduced tightening in monetary policy, and she was trying to do as little as possible with the dots to keep them as unchanged as they could be in the next 12 months so beyond that they can make the policy changes. >> the crisis is over. we still have policy levers largely at their emergency settings. let's return on a methodical basis the policy levers to normal so we have the ability to control our economies. jonathan: joining me around the table today is greg peters, pgi

by the time we had we we saw labor day in the rearview mirror janet yellen would have either been announced to be reappointed or trump would have announce who her successor was going to be and start the process with the senate clearly we've seen labor day come and go and that has not happened because gary cohn is now fairly publicly out of the running for young ones position i understand there are a lot of things going on in the world but at some point it's going to be hell tell the last person in the room to turn the lights out because there's nobody left on the federal reserve fort so trump needs to push this up to the top of his list of things to do we're talking about the world's largest central bank and the world's largest economy here well let's talk about the chair of the world's largest central bank janet yellen how much power does she wailed right now. she will the tremendous amount of power if there are truly only three permanent board members left again i was mentioning the fine print of the federal reserve act in order for there to be a quorum of. it in the language that means that if there are just three

minneapolis fed president neel kashkari is backing janet yellen for a second term as fed chair. this comes as donald trumphe will nominate for next year. >> a really of janet yellen gets reappointed. i cannot think of anybody who was better equipped to lead the federal reserve. there is nobody else who has 20 plus years of monetary policy experience, financial crisis experience. she has excellent leadership skills. reporter: dylan's become --etary policy in cleveland yellen speaks on monetary policy in cleveland this afternoon. private equity owners, including cbc capital partners, are exploring options for the generic pharmaceutical company. it could be valued at $4 billion. people familiar with the matter says the shareholders have entered talks, focusing on a sale of the u.s. business. some are calling a china's netflix. they are targeting a u.s. initial public offering as soon as 2018. those familiar with the matter say good value china's most populous turning video service as much as $10 billion. that is your bloomberg business flash. guy: the french president will outline proposals on european integ

the interesting thing to me is that janet yellen and donald trump in some ways they -- i don't know ifwould say this to each other but they complete each other because, you know, you complete me mainly just because you have a guy that has a very reflationary approach to the economy and this will allow a graceful exit to this corner they've put themselves into as far as this extensive balance sheet so i think it could work out quite well. >> i'd like to be a fly on the wall for that blind date if it ever happened. dino, in terms of say sjason wa saying janet yellen can step back if it doesn't pan out as she expects, is it as easy to back away from the balance sheet normalization as it is to pause interest rate hikes? once they commit, that's it? set in stone now >> i don't think anything is me set in stone they're going to be reacting to their forecast and any shocks that hit the economy so for them to kind of set a path which is about transparency and giving the markets some sense of direction and some sense of what their reactiction function is b for them to say it's locked in, we can

. >> should president trump reappoint janet yellen >> i think she would be a terrific candidate to begary cohn? >> i'm going to stick to janet. >> sticking to janet now last question i want to ask you, one of the things that the president has been insistent on is relaxing the dodd frank regulations. jamie dimon said banks can use more of their capital to finance the economy without sacrificing safety and soundness chair at jackson hole said it's the regulations that underpin the economy. can they be relaxed? so i would not want to roll it back on the large financial institutions they're not systemic and don't put the financial system at risk so you want to be careful about how far you go financial crisis was horrible. it only happened ten years ago i think it's a little soon to say oh let's just forget about all the bad things that happened what you want to have is a financial system that's strong enough to with stand substantial shocks and to do that you need add kwequate capital and liquid >> thank you for joining us this morning. >> thank you, steve. >> so from the gothic temple to

we will have the latest analysis and reaction trump janet yellen and jeff rosenberg of blackrock wille joining us as well. we will have full coverage of her remarks following the fed decision at 2:30 eastern time wednesday. ♪ >> this is "bloomberg daybreak." i am taylor riggs. a big acquisition today in the defense contracting industry, northrop grumman has agreed to buy orbital in a deal worth $7.8 billion. weaponsmakes advanced and space systems. the world's central banks cannot ignore the bitcoin boom. at some point central banks may have to consider whether they should issue their own digital currencies. that is your bloomberg business flash. jonathan: thank you. jamie dimon turned the conversation up on this last week. take a look at what the ceo of jpmorgan had to say. >> if we were to trade at 6.5 in the second -- [laughter] morals, andinst our it is stupid. jonathan: joining me is stephen parker and mike schumacher. what are people who trade bitcoin like? >> i have no upside to agreeing with jamie on this one. focusing on global equity markets is important, and the technology

trump and secretary mnuchin met with kevin warsh yesterday. kevin warsh had been one of the front runners to take over from janet yellen that the fed in the event she would have to be reappointed. we will continue to keep you updated on that story. setwhile, president trump to speak to the national association of manufacturers and an effort to rally factory owners and executives on his tax reform agenda. gary cohn town the economic benefits of the framework earlier on bloomberg. grow gdp --n vonnie: we will get that for you in a few moments. a sickly, he was talking about dynamic scoring, 3% gdp helping to be a pay for for some of the tax cuts. let's bring in peter cheney. what we know so far about this tax or plan, what does it mean to you as a chief market strategist, when the market is going higher anyway? >> the question becomes how much is priced in. it is a positive for growth, at least in the near term. but the question is, given how much multiples have expanded across the board, whether looking at large caps or small caps, has the expectation for reform been built into stocks? when a look at the movie and small caps wednesday, i was sta

perhaps janet yellen will be nominated once again as fed chairman trump has softened his stance on her over the last several months saying she kept the rates too low to she's done a decent job >> stanley fischer, 73 do you have anything on this, sorkin what's a personal reason what does that mean? >> the personal reason i don't have anything on that. the larger question is how it changes the dynamic, at least in the next couple months inside the fed in terms of who fills this vacuum. he was one of these people, always a great wrangler of the other members. sort of -- >> if you have 44 of 7 governors leaving, the entire dynamic changes. >> then we'll talk more about this -- we will talk about the gary cohn piece of this. by the way, or the fact he probably won't, kevin warsh, who was always talked about, his stock has gone down because the person who was trying to bring him to the fed originally was gary cohn. he's considered hawkish. >> john taylor is another name >> larry lindsay the bb&t guy >> you go back and read the op-eds that some of those people have written over the years, mos

yellen will speak. wednesday, president trump is set to give a tax outline. from mark carney on thursday. rt with janet yellen. >> janet yellen will speak here in cleveland before the association for business economics. a lot of people want to know what the fed thinks will drive inflation higher. there is a general feeling it will happen. . unemployment goes down and inflation goes up. they're wondering what happened and why it's taking so long. we heard from bill dudley this morning. probably her closest ally in the fed saying it will go up reasonably soon but we are still waiting. >> to what extent are they waiting for congress and the president and tax reform? are they just basically putting that out of their mind at this point? >> it is a good question. these economists work for all the biggest companies in the matter -- in america. they found optimism about growth in the future and a lot of that is predicated on the idea of infrastructure reform. without it, we tread water. and head ofirector the associated general contractors of america, here is what he had to say about it. say a cau

days, in the next two donald trump will speak to the assembl --ons general assembly. and we have janet yellen, fed chair speaking. jonathan: we are focusing on the annual u.n. assembly where president trump will make his first and biggest address to leaders around the world. president trump has already condemned the u.n. for its bureaucracy and management. president trump: in recent years, the united nations has not reached its full potential because of bureaucracy and mismanagement. while the united nations on a regular budget has increased by 140%, and it's staff has more than doubled since 2000, we are not seeing results in line with this investment. jonathan: i'm pleased to welcome a special guest, tony blair, former prime minister serving as leader of the labour party until 2007. great to have you with us on the program. tony: thank you. specific you have a knowledge of the workings of the u.n. security council. how best to navigate the u.n. at the moment, what is your prescription? tony: find as much common ground as you can. there are differences between russia and china and the u.s. w