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Apr 26, 2024
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now, he picked more of establishment figures like randy corals and jay powell. this time, if you look who he was nominated end of his first term you had different, more choices like judy shelton, herman cain. this time around he won't have vak al vacancies unless they leave. seats filled nobody steps down it's a year before he gets one vacancy. >> you talked to someone, you're right, i don't know who's in charge he's got other things going on that probably not as cohesive a campaign when you're, you know, due somewhere else every single day. to your point. be very clear if it doesn't come directly from the strategy and say don't take it seriously. they said that, didn't they? >> they absolutely did say that, but donald trump is talking to people right now about the fed he's interested in different views. he's thinking about this he cares about the fed a lot he thinks a lot about interest rates and knows what 25 basis point increases interest rates will do. the second part i was going to make is -- >> and go along with it. you quote people in the article. two or
now, he picked more of establishment figures like randy corals and jay powell. this time, if you look who he was nominated end of his first term you had different, more choices like judy shelton, herman cain. this time around he won't have vak al vacancies unless they leave. seats filled nobody steps down it's a year before he gets one vacancy. >> you talked to someone, you're right, i don't know who's in charge he's got other things going on that probably not as cohesive a campaign when...
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Apr 17, 2024
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has jay powell, you think, consulted with him on this? >> highly unlikely. >>> meantime speaker mike johnson's former aid plan encountered resistance. the house caucus said they would not support it without offsets and concessions on geo security. if have voted to oust the speaker after mike gallagher steps down from the house on friday. it will take only two if all democrats vote against him. we'll bring you more on this story from washington later on in the show. >>> federal boeing engineer turned whistle-blower will testify before a congressional committee on the safety of the 787 dreamliner. he spoke to tom cause still le o in an exclusive interview. >> should boeing ground the 787 to check the gap sizes? >> i would say they need to. >> the entire fleet worldwide. >> the entire fleet worldwide needs attention. the attention needed is to check your gaps and make sure you don't have potential for premature failing. >> boeing told c kr newsu -- c news they're quite confident. they say the claims about the 787 are inaccurate. >>> meantime
has jay powell, you think, consulted with him on this? >> highly unlikely. >>> meantime speaker mike johnson's former aid plan encountered resistance. the house caucus said they would not support it without offsets and concessions on geo security. if have voted to oust the speaker after mike gallagher steps down from the house on friday. it will take only two if all democrats vote against him. we'll bring you more on this story from washington later on in the show. >>>...
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Apr 4, 2024
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i guess we got to listen to jay powell, though we were at 6 for a while. i don't know if most people were. three to a lot of people now sounds probably unlikely. but they're sticking to it. that was kind of interesting. they don't want -- they don't care if the market goes higher, do they? they're not trying to disappoint investors. that's not why they're doing this. >> no. >> why are they doing it? >> no, i don't -- i don't -- well, first of all, joe, i will give you ten bucks for every time you can find anything the fed said that would have justified the market going to six. i think that's more of an interesting -- >> now they're endorsing three. the market could be -- people could be wrong about three, but they're kind of endorsing three, even though -- >> you know, joe, i said this repeatedly. the fed is a victim of its own transparency. i really like the dots. the dots tell me where the fed is going. but i don't know why that june probability is so low. i think that might be wrong there. should be 57%. anyway, what i'm seeing on my screen. in any even
i guess we got to listen to jay powell, though we were at 6 for a while. i don't know if most people were. three to a lot of people now sounds probably unlikely. but they're sticking to it. that was kind of interesting. they don't want -- they don't care if the market goes higher, do they? they're not trying to disappoint investors. that's not why they're doing this. >> no. >> why are they doing it? >> no, i don't -- i don't -- well, first of all, joe, i will give you ten...
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Apr 1, 2024
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one thing i disagree with jay powell. signaling cuts soon. there's nothing like that in the data to me. >> what about the letters behind you? distinctive signature. is that 45 sober? >> those are the, right here in my office. those are the notes that appointed me chair to council of economic advisor and member of the council advisor. >> signature on the right, right? very distinctive. that's not a letter asking you to be the next fed chief from -- from -- that's not what -- we can't see what it says. >> we'll see what happens. >> would you take that job? >> it's crazy to speculate about stuff right now. it's like the cart before the horse we don't really even have a horse yet. so i think the appropriate thing to do is talk about policy for a person like me and let people think about whether they think policy views are views of someone you agree with. >> fortunately, just gave every modern monetary theorist a -- get out of jail free a.i.'s goi our $34 billion built-up risk. >> we see it in productivity inflation going down. a.i. is real. it's
one thing i disagree with jay powell. signaling cuts soon. there's nothing like that in the data to me. >> what about the letters behind you? distinctive signature. is that 45 sober? >> those are the, right here in my office. those are the notes that appointed me chair to council of economic advisor and member of the council advisor. >> signature on the right, right? very distinctive. that's not a letter asking you to be the next fed chief from -- from -- that's not what -- we...
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Apr 16, 2024
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later today, fed chair jay powell is speaking at the forum in washington at 1:15 p.m. a lot of folks speaking. jay powell is the one where you will hang on every word. >> how many rate cuts should we expect it? when? >> will he tell you anything? i argue he should top telling you anything. >> mary daly said no rush to cut rates at this point. certainly the data states that. >>> house speaker mike johnson plans to split the aid package for israel and ukraine to respond quickly on the attack over the weekend. marjorie taylor greene has threatened to force a vote on deposing the speaker if it has any ukraine aid. she has not decided to proceed with the ouster vote. speaker johnson anticipates the house will vote on the aid bills on friday. >>> the first day of jury selection in the donald trump criminal trial concluded without any jurors seated. trump walked out of the courtroom and calling the trial a scam and criticizing the judge for refusing him to attend supreme court arguments next week reellated to the immunity argument. meantime, shares of trump media closing 18%
later today, fed chair jay powell is speaking at the forum in washington at 1:15 p.m. a lot of folks speaking. jay powell is the one where you will hang on every word. >> how many rate cuts should we expect it? when? >> will he tell you anything? i argue he should top telling you anything. >> mary daly said no rush to cut rates at this point. certainly the data states that. >>> house speaker mike johnson plans to split the aid package for israel and ukraine to respond...
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Apr 29, 2024
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i think i know jay powell very well as a friend he could care less. it's kind of nice to have symmetrical beating up right? >> it is both sides then left with the foibles of, i mean, love jay powell or -- he is having gut feelings about what to do, which aren't always right. >> not just jay powell it's entire committee. >> the entire committee. >> remember, plotting their dots saying we might have three cuts. remember, every time powell has spoken about this he's says -- >> last time he said not ready but really close were we really close at that point? >> i think we're getting closer. >> able to cut why? >> it's not there yet. >> why are we getting closer the last mile seems harder >> it is hard and going to be really hard to get there and they're not going to deter -- no central banker in the world wants to get out of the 2% targets. because it undermines confidence you saet a hard rule and wiggle on it? not going to work. >> i don't know if you saw professor stiglitz last week did you understand the inflation argument and why he said 4, 5%, really
i think i know jay powell very well as a friend he could care less. it's kind of nice to have symmetrical beating up right? >> it is both sides then left with the foibles of, i mean, love jay powell or -- he is having gut feelings about what to do, which aren't always right. >> not just jay powell it's entire committee. >> the entire committee. >> remember, plotting their dots saying we might have three cuts. remember, every time powell has spoken about this he's says --...
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Apr 11, 2024
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amongst attendees are jay powell and masa son and apple's tim cook and shawn fain, jamie dimon and larry fink. john gray and ibm's arvin kris hak krishna. the guests were entertained by paul simon. >> becky, can i make a quick point? to me, one of the most salient or fascinating facts about the dinner. jamie dimon at the dinner. i raise it because there is a lot of conjecture since we did that interview with jamie in davos about his comments about politics and president biden. specifically president trump. a lot of people took the clips he said on air as if he was a supporter of president trump's. i thought that was misconstrued by the public and not his intention to suggest he was backing president trump, but saying you have to respect a group of people who want to support him. by democrata, godemaging him ma for society. every person that the default, is a supper of sorts of president biden. >> his comments at davos were not just respect people who voted for president trump, but his point was there is a reason they are voting for him because of the policies he thought were better from
amongst attendees are jay powell and masa son and apple's tim cook and shawn fain, jamie dimon and larry fink. john gray and ibm's arvin kris hak krishna. the guests were entertained by paul simon. >> becky, can i make a quick point? to me, one of the most salient or fascinating facts about the dinner. jamie dimon at the dinner. i raise it because there is a lot of conjecture since we did that interview with jamie in davos about his comments about politics and president biden....
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Apr 30, 2024
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let's assume that jay powell does talk tougher, and how does this play out? >> to me that's why i would doubt initially that the doj and ministry of finance intervened yesterday, but the information that came out in the last two hours does suggest the japanese intervened on selling up to $35 billion, and it surprises the japanese would intervene when they know what we know, which is that powell could have a hawkish pivot, and stand on the interest rates, and the inflation was falling towards the target and it's not there right now. at the same time, we get on friday the u.s. jobs data, and the early look is 240 and 250,000, and that would be a solid report and that would seem to push up interest rates and thereby weaken the yen against the dollar. >> yeah, the yen is 156.90. >> yeah, it got down to 154 yesterday after going above 160. the market will tread gingerly as we approach those levels again for fear of another round of intervention. what happened a couple weeks ago when israel was responding to retaliating against iran, and in an hour's time, the mexi
let's assume that jay powell does talk tougher, and how does this play out? >> to me that's why i would doubt initially that the doj and ministry of finance intervened yesterday, but the information that came out in the last two hours does suggest the japanese intervened on selling up to $35 billion, and it surprises the japanese would intervene when they know what we know, which is that powell could have a hawkish pivot, and stand on the interest rates, and the inflation was falling...
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Apr 2, 2024
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powell and christopher waller last week and all of it has people thinking that june rate cut may not happen. the fed futures fell below -- >> roger ferguson said it over and over again. he has been our accurate barometer overall of it. >> we were at six and settle for five. okay. four would be good. we decided we're going to do three. it could be one or two. now three is suspect. one is like kissing your sister. >> we're in jamie dimon camp. he said this. everyone said he was crazy. >> the crazy thing is it will cause the fed to stay higher for longer to cause a recession. >> right. because of stronger than anticipated inflation. >> the reverse call. economy is so strong that we have a recession. >> i think jamie dimon's point is inflation is running strong. >> that's what it will be. can't cover inflation. >> it is not transitory. you have to stay high. maybe raise again. i'm thinking we can't guarantee. we argue with analysts. up 5% or 10%? what if it was down 5%? we sometimes think they will raise rates. >> it is possible. you are talking about the s&p performing up 10% in the fir
powell and christopher waller last week and all of it has people thinking that june rate cut may not happen. the fed futures fell below -- >> roger ferguson said it over and over again. he has been our accurate barometer overall of it. >> we were at six and settle for five. okay. four would be good. we decided we're going to do three. it could be one or two. now three is suspect. one is like kissing your sister. >> we're in jamie dimon camp. he said this. everyone said he was...
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Apr 10, 2024
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jay powell in the senate, market loved it. very reassuring jobs report. market said we could have a good economy, a strong jobs market. the fed is going to cut and the momentum trade is working. it was the moment of maximum cooled off since then. not really giving that much back. traded plus or minus at that level for most of the market. it's 1%for today. we'll see how that goes. nvidia, i talked about cooling off with the momentum trade. this is exhibit "a" right here. in appreciable cpullback here. about 15%. it's not much to speak of on the longer term chart. it's not up huge. we have harvesting of profits and a lot of the big winners. that was a theme yesterday. the best performers here to date, weresome of the biggest losers, part of that. you're looking at home builders v versus semis. this is limited fly, demo demographic. that's your march 8th, 7th pop. that was the moment of maximum confidence. we're seeing if it can carry through after today's number. >> mike, thank you. we'll be watching. we'll see you in a little bit. >>> we have a lot more co
jay powell in the senate, market loved it. very reassuring jobs report. market said we could have a good economy, a strong jobs market. the fed is going to cut and the momentum trade is working. it was the moment of maximum cooled off since then. not really giving that much back. traded plus or minus at that level for most of the market. it's 1%for today. we'll see how that goes. nvidia, i talked about cooling off with the momentum trade. this is exhibit "a" right here. in appreciable...
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Apr 3, 2024
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. >>> jay powell will be speaking in california later today about the economy. a new cnbc survey gauges how some americans feel about the current economic climate and how that compares to those in several other countries. cnbc's senior personal finance correspondent sharon epperson joins us right now with some of the results from that survey. hi, sharon. >> hi, becky. taking the pulse of their views about the economy, responses of those who were surveyed were mixed. while u.s. adults surveyed were pretty evenly split in their feelings about where the economy is heading, a majority of respondents in mexico, singapore and switzerland were optimistic. most adults surveyed in the uk, france, spain, germany and australia had a pessimistic outlook. this cnbc your money international financial securities survey was conducted by survey monkey min march. overall, a majority of those surveyed said they're stressed about their personal finances these days. inflation is the main source of their financial stress, more than their lack of savings, economy wide instability, agi
. >>> jay powell will be speaking in california later today about the economy. a new cnbc survey gauges how some americans feel about the current economic climate and how that compares to those in several other countries. cnbc's senior personal finance correspondent sharon epperson joins us right now with some of the results from that survey. hi, sharon. >> hi, becky. taking the pulse of their views about the economy, responses of those who were surveyed were mixed. while u.s....
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Apr 5, 2024
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the problem jay powell has this time, told me volker didn't have, size of the expect reserves in the u.s. banking system. according to richard, there are 1,700 times larger u.s. banking system prepared to pre-lehman. around $3.2 trillion making it more difficult, withdrawal of the stimulus that came with qe. making it more difficult to make it more potent. interesting. quick word from el-erian, chief economic advisor said fed has to stop giving us a play-by-play commentary on every single piece of data. what they've got to do start being a lot more strategic in longer-term view. amazing people are here. the real message from europe, this ain't just about the u.s., rate decision and payroll numbers. this is about the global economy and keeping ing at least one of legs on the stool there so actually the whole global economy doesn't collapse. back to you, andrew. >> steve sedgwick on a major hard assignment this morning. appreciate news and perspective on all of it. thank you. >>> all right. when we come back, ford expanding its hybrid electric vehicle offerings. talk about a move amid
the problem jay powell has this time, told me volker didn't have, size of the expect reserves in the u.s. banking system. according to richard, there are 1,700 times larger u.s. banking system prepared to pre-lehman. around $3.2 trillion making it more difficult, withdrawal of the stimulus that came with qe. making it more difficult to make it more potent. interesting. quick word from el-erian, chief economic advisor said fed has to stop giving us a play-by-play commentary on every single piece...
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Apr 24, 2024
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powell to the extent you think you can do some mind reading for us? >> i think this most recent durable goods number is consistent with a resilient economy and i think overarching narrative in my mind is, we have historically restricted monetary policy being blunted to a great extent by historically stimulative fiscal policy. unspent american rescue act money still being spent, inflation reduction act projects, infrastructure act projects and the conflict between those two has meant that the particularly the services sector, inflation in the service sector has been stickier goods are disinflating that's being helped by china over-capacity, and particularly global over-capacity, but services, particularly labor, is where ground zero is of this inflation issue. if i'm at the fed i think what they're thinking is we're at full employment, and they can afford to be patient, and they do not want to make a mistake by beginning rate cuts and then having a resurgence of inflation, particularly in the service sector so they're going to wait, and i think they're
powell to the extent you think you can do some mind reading for us? >> i think this most recent durable goods number is consistent with a resilient economy and i think overarching narrative in my mind is, we have historically restricted monetary policy being blunted to a great extent by historically stimulative fiscal policy. unspent american rescue act money still being spent, inflation reduction act projects, infrastructure act projects and the conflict between those two has meant that...
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Apr 12, 2024
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one is we still have the bumpy path down that the fed chair jay powell has been talking about. it is bumpier. it is not happening as quickly as we thought when we were looking at the six-month annualized inflation rates at or below 2% at the end of last year. the second scenario, where you put more mass on after wednesday, is inflation might just stall out closer to 3% if you look at the pce index, then it is below 3% . it is closer to 3% than 2%. with strong growth, that gets you a higher for longer and we stay at 5.3% fed funds rate for longer. this isn't the worst thing in the world for the fed. it does make it harder for them to get on to the golden path that austan goolsbee is talking about. the worrying scenario, of course, would be a slowdown in growth with high inflation. that's the place the fed just doesn't want to be. it doesn't feel that's where we are right now. >> you have been watching this very closely. you hear the commentary from a lot of fed owe iffficials who st we are in no rush. wedocn't have to push this. some like raphael bostic saying one cut this year,
one is we still have the bumpy path down that the fed chair jay powell has been talking about. it is bumpier. it is not happening as quickly as we thought when we were looking at the six-month annualized inflation rates at or below 2% at the end of last year. the second scenario, where you put more mass on after wednesday, is inflation might just stall out closer to 3% if you look at the pce index, then it is below 3% . it is closer to 3% than 2%. with strong growth, that gets you a higher for...
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Apr 19, 2024
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powell and say that the federal reserve missed it. is it his fault if you're going to lay blame how do you think about inflation and whether a president can control it >> well, listen, it's easy to go back and criticize the fed i personally think they waited way too long to start raising rates, and i hope they don't wait too long to start lowering them they're in a good posture right now from what i know, but, look, there's no doubt that this president has spent an enormous amount of money, pumped an enormous amount of money into the economy when at the same time early in his administration he was telling people stay home, don't come back to work, which created, you know, much more demand than supply out there, because people weren't in the workforce which drove prices up, then when you start having pieces of legislation that are mandating certain things like electric vehicles that continues to drive prices up on batteries, rare earth minerals, the whole supply chain network, so, yes, i do think the biden administration's policies hav
powell and say that the federal reserve missed it. is it his fault if you're going to lay blame how do you think about inflation and whether a president can control it >> well, listen, it's easy to go back and criticize the fed i personally think they waited way too long to start raising rates, and i hope they don't wait too long to start lowering them they're in a good posture right now from what i know, but, look, there's no doubt that this president has spent an enormous amount of...