Mark an executive at a French Company at arkema said explosions at its factory in the houston area will not hold future dangers but he is but he expect more containers to burn. I am not sure about the distance of the containers themselves are in a remote area so we do not anticipate any other buildings or equipment to be a problem. Mark of Officials Say harvey knocked out Critical Power supplies required to keep volatile peroxide cooled. 15 Police Officers were treated at the hospital for smoke inhalation. Floodwaters are receiving the houston area and firefighters plan to conduct a block by block certain areas that were inaccessible. The death toll has risen to 31. Harvey has now knocked out almost one fourth of u. S. Oil refining capacity, steelmaking capacity at a sevenyear low. Beaumont, texas has lost its water supply and officials said city has lost the Surface Service because the rising waters. Officials say they must wait until the water levels recede before they can it determine the extent. Natural of this disaster may be a roadblock to president trump. He is called on congress to deliver a quick aid package. Its cf may stiffen ost may hurt tax reform. Global news 24 hours a day, powered by more than 2700 journalists and analysts in over 120 countries i am mark crumpton. Vonnie the whole to the u. S. Labor economy with a job numbers for august and we will not get a clue have a torrential down floors at historic flooding from harvey impacted the u. S. Economy. Here to talk about all of this and how economist are keeping their eye on all of this data is the u. S. Economist for bloomberg intelligence. Carl, tomorrow is the jobs data and we will not see harveys impact yet. Further out through what kind of impact might we see from harvey . It in the not see jobs report tomorrow but we will see if thats in tomorrows data. We will get a Motor Vehicle sales for august and vehicle sales tentative the an early harbinger of National Disasters and weather impacts whether a hurricane or any kind of outage. Of lost selling the days toward the end of august and that leaves a downward bias to numbers. Of next as thursday week, we should us the back up in jobless claims and usually takes one to two weeks and could be next thursday or the thursday after but the look for substantial backup on the order of potentially 100,000. Is one mistake, two states, why is it having so much of an and pack . Looking at past the storms, though fourthlargest metro area in the country offline for several days and this will have impact on a range of data series from Industrial Production and utility output to retail sales and housing data and Motor Vehicle and all of the rebuilding will show up. I do not think you will necessarily see a big impact on the gdp data as you have visited that blow at the outset am a but we have one full month in the quarter were a lot of freebies outset, but we have one full month at a quarter where we will have a lot of offsets, a minor drag. Vonnie what we give up now and the data to come, will we see it coming back . Will we get a beneficial effect when the federal Government Funds going into . Carl riccadonna perversely, it could help gdp although the restoration. It can help the sluggish inflation trend we have been seeing in the economy, not less early it is a good thing but the fed wants inflation to combat for a national desk, that for 8 come back organically, we could get a small substitute in the interim. One story about gasoline and peach road petroleum disruption and all of those factors leading to headline inflation. Bottlenecks through the supply chain whether petrochemicals or other items. It is a major port so that will factor into the data. Vonnie the fed, when the prices go up or down, why wouldnt it be transitory in this case . Carl riccadonna the fed should use it as a transitory case, the refineries will reopen and of the supply chains will be reestablished that it is shortterm bump to inflation should work its way out. Timeseing said, by the they were themselves out of the system which could take two to three months, we should see the evidence of faster Economic Data as evidenced in yesterdays gdp numbers and the latest numbers in all of these that we have some pipeline inflations that should be materializing later this year. Vonnie anyone who had been saying the economy is slowing, does this given the fed chair to she alwaysat possibly wanted to start tapering the Balance Sheets in october . You mentioned in september and in december another rate increase . Carl riccadonna we have to look at the data and take a leap of faith in terms of understanding what is happening in the economy. Entering this very important period with the Balance Sheet and the potential year end rate increase, a date of brown out with so much Economic Indicators impacted by the hurricane and making it difficult to get a good, underlying read. From thepart hurricane, is there something about septembers data that is audit every year . Odd every year . Carl riccadonna it tends to be riddled with quirks and flukes. You should judge it with a cautious eye. August payrolls tend to come in below the trend leaving the to the month and well below conferences and expectations. Adding insult to injury, they tended to be revised higher after the fact. My teams of view is the economy isnt celebrating and the pace of job creation should be accelerating, but that will not miss only be obvious in the jobs report and we could get below conferences result even though what is happening and we could get below the results. Wenie and the economist surveyed are looking at 170. Thank you, carl riccadonna. Here tomorrow. Abigail doolittle is here half way into the trading day. How are we looking . Abigail ank it is a it is a bit bullish. The nasdaq higher, at session highs up 0. 7 on top of yesterdays 1 gain. Factors. Litical earlier this with not having an effect. Investors looking perhaps i had to strong rooting on the economy and yesterday, the gdp and adp supporting this bullish tail win d seeing economic growth. Lets take a look at another segment of the markets doing well, commodities. Up on pace for its best a days is june 30. Much of a help by the Energy Complex. Up on pace for its best day since june 30, much helped by the Energy Complex brent crude is up. And a commodities strategist said it has to do with the fact this storm, he said unprecedented storm and energy hub that is bullish for price despite the devastation in a that area. Carefully hopper to the bloomberg, a great chart. Ommodities, i love this chart while we have gasoline higher on the day, it is not exactly what it appears to be. This a year to date chart and what we are looking at is the september month contract for unleaded gasoline up 29 and you can see much coming to the last few days as the refineries in texas are shutting and taking capacity offline and theres really world demand. Thever, mica says most of spike is not really fundamental demand but a short squeeze and some are getting out. Thereason he believes that, yellow berbers is the october contract up about 5 . And the yellow line represents the october contract up about 5 . Finally, a look at some of the leaders and laggers. Marathon, upaders, 3 in sympathy with oil and gas trading higher. Biogenic is up with the biotech sector. Nasdaq higher up more than 2 sprint 2 . Gilead purchase to buy a company, a cancer deal giving a bid to biotech. On the ladder, Dollar General down on paper worst day in a year after they Beat Estimates but the guidance disappointing. Backly, insight giving some of yesterdays big rally. Thanrday it was up more 10 and investors are taking some chip off the table. Vonnie thank you, abigail. Breaking news on apple. Shares are higher, above about 06 0. 6 and rising. Says lets meet at our place. Apple sending out invitations for the september 12 event that we knew was company we knew what coming in cupertino. We look at the feds rolet to touce the country role reduce of the countrys get problem. Vonnie this is Bloomberg Markets. I am vonnie quinn. Federal debt and tedious to write continues to rise. My next guest said it is unsustainable and argues significant reduction can be helped by the Federal Reserve lowering Interest Rates significantly. For more, i want to bring in joel prakken. He joins me from st. Louis. An interesting theory. You know, as is anyone taking it seriously that the fed would consider it part of its mandate . Fedsrakken with the jackson hole conference winding down and congress reconvening, a lot of attention on the short run policy, the fiscal speed bumps we will encounter toward the end of september and if the fed will take tightening, but a good time to remember our fiscal policy is on the long run, unsustainable track. If we continue down this path, we will undermine our standard of living. Do in thented to study is asked what are the Macro Economic gains of putting fiscal policy on a sustainable path . Since that could involve a long drag, and integral part of the cantion is whether the fed have enough monetary space, if you will, to offset that fiscal draft by keeping Interest Rates lower. Vonnie is it that politicizing the fed . And saying, lets put in place in placecuts and put more spending programs and you can take care of it at the Federal Reserve . Joel prakken no, i do not think that is the correct person to look at it. A policy, it will be on upward pressure. Policy on ascal sustainable path, the equilibrium Interest Rates will be lower and the fed would allow. T to decline the point of the study is if the fiscal adjustment occurs over a long pedal of time, we can in fact keep the economy growing close to trend with inflation objectionse feds and therefore realize without any cyclical downturns induced to buy come fiscal contraction putting fiscal policy on a sustainable path. Vonnie in order for the country she wouldnt this, congress now have to decide to change in the Federal Reserves mandate for the first time in decades . absolutely not. If we embarked on a long run policy of fiscal restraint without the fed lowering Interest Rates, the unemployment would rise and inflation would fall. The fed would follow its mandate target wouldose to naturally response by gradual lowering Interest Rates. Vonnie you are saying let inflation rights a rise in unemployment fall . Would we be it in a comfortable situation . We would but there is an alternative and that is really uncomfortable, the federal debt continues to rise gradually crowding out private investment and perhaps eventually leading to a crisis of confidence in the fourth at a credit of the American Government in which case we could have a sharp contraction and the Federal Reserve would be unable to prevent. The fed would run out of space to counter the fiscal drag. Vonnie it is a fascinating setting and thank you for sharing some of your conclusions and we will chat with you. Joel prakken Macroeconomic Advisers cofounder. Lets get more in the news that apple is holding an event in cupertino, california september 12. The first ever event held at apples new headquarters. Market is in San Francisco with the latest. Lets meet at our place is what it says. Usually the tagline has a hint at the new project product to be introduced at this time there are hinting at the new location, the new apple park campus, the steve jobs theater that sits around 800 people and will showcase the new iphone and the apple tv and the new couple watch that connect to lte networks. Newie showcasing of the campus, will it take away from a lack of gasp moment during the conference . We mostly know what apple is going to say. Mark gurman that is a good question. I a slightly surprised but not surprised they are doing it at the new campus. I feel like it is the biggest event for the company, the model for the lunchs tent and launchs 10th anniversary. They do not want anything distracting from thats all holding the event at the new campus may take some attention away from the products but the new campus is key. Introducing a new iphone and taking the company in a new period of existence. Maybe doing it at the new campus is good from that perspective. Vonnie how many people typically goes to these events . Mark gurman north of 1000 depending on the event, the product. 6000oper events can sit and this more of a media event and Software Operating System focus this time of round. Time around. Vonnie does an invitation going out to people to attend apple hq is a newsworthy event . Mark gurman absolutely. The new campus is significant, new construction and they spend billions of dollars and worked on it for years. Was steve jobs last introduction. Many people look at this presentation in cupertino as his final product. This says it up for decades of new products and development and initiatives. This is key for the company. They will position it as a revamp of the iphone, a reboot taking the company to a new era. Vonnie if you want to come into my bloomberg, i can show you a copy of the invitation. I cant maximize it. Apple logo. Special colors, new colors. Lets meet at our place. Pardon doesnt that are as vp work for me. Rsvp button does not work for me. Has anybody seen inside the steve jobs editor . Mark gurman construction workers and apple employees. Who knows if it is done. It was talking they would not spend complete the theater in time but clearly they will get it done. We will get to see it for the first time in a few short weeks. There will be people lining up before 8 00 a. M. That day. What will be announced . The meat of the event is three new iphones and the main event part is going to be this revamped model, all new design, greenernd, 3d facials we werel screen, what talking about. The apple watches that can connect a Cellular Data Networks for the first time. Upgraded apple tv with a faster processor that allows for the streaming of higher resolution video. Vonnie it will be interesting to see the new headquarters. The steve jobs auditorium is underground. Meanwhile, the rest of the campus is ringshaped. A very unusual design. What was the thinking behind the design . Mark gurman it is very cool. When steve jobs was showing debt, to encourage collaboration between different teams at apple. We have a store like a lot of employees might feel on easy about the lack of offices and people able to communicate but the Company Thinks it will spur teamwork to probably produce better products. The theater is a circular shaped. It is going to be very cool and like i said, a lot of people will be focused on the new building and the first time a lot of people will see the new campus and they are doing the on the same day they are releasing their most important product in several years on interesting time. Juste yes, no angles all soft angles, i guess. Ringshaped, concentric and people will be all working together. All right, mark gurman, thank you for that. We are looking forward to september 12 at their place. Apple hq. In cancernew era care. The fda approved the treatment that could destroy childhood leukemia. But the price tag is almost half 1 million. Our reporter has been working on in aand we will go to anna few minutes and check markets in the meantime. The dow is up it. The s p 500 adding to gains. The nasdaq composite index running away up 0. 8 . Apple helping move a little , ther as it is higher stock is rising no following the official confirmation the invitation has been sent out. Lets get to anna, the fda approved novartis Breakthrough Cancer drug and will cost nearly 500,000. For more on the reporting, less of debt to anna. Lets get to anna. Is it is the first in a string of approvals on the therapy . The latest in cancer fighting therapy . Certainly, the first and likely what will be many therapies and many other gene therapy as it was the first approved in the u. S. Inead has acquired a drug acquisition with kite pharma that is a cartoon that could be approved by the end of november. There are many, many more they are studying more than 500 of these. 500,000 sounds like a lot but i assume itll come down as people use of the joint than other competitors, out . Is as a possibility. There price tag may have been a shock to other people working on it. It is a possibility. It is lower than some analysts thought. That price could keep coming down and as the drug is approved for a wider usage, for more illnesses and other cancers, that could bring the price down. Vonnie thank you to anna edney, our health care reporter. Novartis is up almost two almost 2 . We will be listening to brian moynihan, this is bloomberg. Vonnie that is a lovely midday midtown manhattan. I am vonnie quinn and this is Bloomberg Markets. A check on how the markets are faring. 0. 5 . P 500 up let higher by bio jim. Biogen. Igher by the first word news and heres mark crumpton. Mark there could be more explosions at a houston area plant damaged by harvey. The french operator of the plate says this mornings fire knocked out power supply needed to refrigerate volatile chemicals. Of tell more containers up to eight more containers could explode. The brexit talks do not appear to be going anywhere. The European Unions chief negotiator said they are far from making the progress to move on to trade deal. The you can refuse to reveal its hand on crucial issues and accuse the eu of being too rigid. Iran has not violated its nuclear deal with the United States and five other world powers according to the latest Quarterly Report by the United Nations agency. The International AtomicEnergy Report out today does not explicitly say i ran is honoring the deal iran is honoring the deal but does not show any deviations. 2pakistani Court Sentenced former officers to 17 years for failing to protect a former prime minister. Utto, a prominent opposition leader, was killed by a suicide bomber. Global news 24 hours a day, powered by more than 2700 journalists and analysts in over 120 countries, i am mark crumpton. This is bloomberg. Vonnie here. Some people to machines on the trading floor, how are banks of managing . In an exclusive interview, bank of america Ceo Brian Moynihan discusses its. Brian moynihan it has huge impacts and build information throughthe simpson the system as changed dramatically but if you think about a broadly, all business and all of society is affected , artificialognition intelligence, the ability to store and distribute data and distribute computing. That allows us to have a tremendous ability to make the work more efficient. It was electronics ive the years ago is probably take a not 10 or 15 of people and revenue has been growing. It will continue. How it is having in trading in things driven by straight through the pipes. What it means is, xyz putting through trade through the machines to the markets and back and forth, higher and higher percentage. Fixed income, behind that. Becoming more electronic. We have a platform for loans, each one is different. Things like that and that is going on. It will be relentless. How would you characterize the trading . Brian moynihan it is solid. Quarter, allirst of last year wishes and a quarter out. All of last year it was shifted a quarter out. Sequential increase or decrease . Brian moynihan we will figure it out. The whole quarter is made in september. We are ok. [laughter] a couple questions about regulation. The Treasury Department has proposed reforms for banking and can be accomplished without Congress Pretty if secretary mnuchin got everything done outside of legislation, what would it mean for your bottom line . Brian moynihan it would be good and good for society and good for america. , there arek about three or four things important of what is going on. Everything specifically to erik specifically to you . Brian moynihan the rules that were going on now have been pulled back and there are rules that have to be changed and actually legislation. If you look across, what the secretary did got input from investors, Analysts Companies and said heres a set of principles whiffed a fix for the key ones are capital and liquidity from the technical rules. Along more access to our capital count with 20 billion access after the stress tests and let us put it back in the market so somebody else can use it because we do not need it to grow. That is the most important for us liquidity. For others it may to be erik oversight . Brian moynihan volker is too complex by everybodys animation. What are the principles you are stop . To that is probably a good idea, you have five or six agencies working on different set of principles and they know it is too complex. How will we go about it . He proposed lets make it simpler and now we have to figure out what we mean. We do not have proprietary trading. How many times do we have to prove it . Everything as you probably know and im sure you know, the buy side is freaking got about the new european rules. How big a deal is it for bfa . Brian moynihan it is a rule change, one going on all the time and it costs us money to implement but if you really look at it, we have the number one Research Class in the world for the past five or six years and i am sure that people will pay us for erik 800,000 a year . Brian moynihan i assume so because that is how they get it. Tor customers, it is me, it is not the Biggest Issue i am worried about. I am worried about the hurricane and other things. It will be fine. It will be fine. It is disruptive and im not sure if you agree with all of it and you go on with life and people will and just. Vonnie that was bank of americas a Ceo Brian Moynihan speaking exclusively to bloomberg. You can catch a new program about the everchanging regulatory landscape. Bloomberg markets rules and returns its was at of regulatory ownge by going on to our expertise and those of the front line. Catch of the First Episode from 8 00 p. M. London time on friday. Bitcoin crisis hovering at records. We are taking a deep dive into what is driving the crypto craze. This is bloomberg. Vonnie this is Bloomberg Markets. We focus on a unique stock we are watching, Online Dating service match client to a record after the company said it was r bold page new tinde started tuesday and pushes intended to be the third top grossing app on apples app store. Joining us with more is taylor riggs. Tender gold . Taylor they call a premier swipe serve premium swipe service. Unlimited likes and you can look at and a member only service and see who likes you before you swipe. They key is monetizing a. Match owns tinder. That is why shares are up to the acords going back to maximum going back and it is really high. Monetizing growth is a key thing for investors. When we look at the revenue growth, you saw it jumped 12 paidhe quarter by strong member counts. That was driven by tinder and plenty of fish. Tinder is what we will focus on. It exceeded over 2 million adding 224,000 users. Vonnie and interactive is a largest shareholder. Taylor that you see that stock rise on this news. Vonnie who pays for this tinder golden how much is it per month . Taylor you can see with a match. Com, which you know match owns tinder. Older to. Com, maybe an demographic. 32 millennials, not too bad. Return toeing a match growth which is great news for the company and we said tinder had been feeling a lot of it. Match is reporting improved yearoveryear growth and started to see improvement. Match is starting to see a new thing called a match stories, 50 seconds to pick videos to pitch yourself. Good news for shareholders is the takeaway format shareholders is starting to see some growth and monetization of these companies. Vonnie we should send you off to do more research. Go on tinder gold and, back. [laughter] taylor riggs, we will convince her. Lets move on to cryptocurrencies. Bitcoin and the like, they have been surging halting the interest to spike. Bloomberg technology will give you an indepth look of commercial currency later this afternoon. Aobal banks are working on project to grade a new digital cash they hope to launch in 2018. For more is Caroline Hyde to explain. A new group coming together, tell us more. Cal lightbank the utilities settlement corn, originally started by ubs and now over 12 institutions on this project and we see the likes of six global banks, barclays, global suites among them. Globals Credit Suisse all among them. To make it swifter and about bringing efficiency. What it would do is basically allow you to clear and settle Financial Transactions that much easier. You could go to buy a central bank and use of these coins to pay each other payments old and what ever comes the that might owed and whatever currency that might be. All of this basically means that youre not having to wait the usual settlement time. A billions ofe up dollars making the world that much more efficient when it comes to banking. These Companies Getting on board. Vonnie fascinating. What needs to happen by next year to make this a reality . Caroline the Underlying Technology which is like a shared database, you and i using google docs have been able to see live transactions occur in sign off on them. It needs to be developed and the socalled currency needs to be developed and we needed to see if they are going to see the clearing and settlement of individual security and all of the security, the billions, trillions worth of bonds would have to be put on a block chaining themselves. This is not going to happen overnight but were at a Tipping Point in terms of development. So says he ubs which is the driving force and they say now is the time were starting to really talk to Central Banks about this and starting to talk to regulators and tightening up on data privacy. Notably on cybersecurity and this is where it gets interesting. Banks have been worried about the cryptocurrency speculation. A lot of it has been linked to not quite aboveboard behavior and you see the hacks and why always asking for paying in bitcoin. And the illegal drug trade done by cryptocurrency. , its kind of tarnished likability with some untoward behavior. Now the fear is cut out and they are starting to show this could be an area of growth and underlying efficiency for banks. This is a huge disruption that could occur for the financial industry. Briefly, coming at a time when interest and the other cryptocurrencies emma the more wellknown ones its peak cryptocurrencies, the more wellknown ones peak. Caroline every day out of about a record and today is a new one for bitcoin. When will it stop . We see significant spikes. You also mentioned the secondbiggest cryptocurrency, it has about a 37 billion market cap. We see them move from eight dollars at the beginning of the year of two 389 at the moment. You are seeing new Companies Adopt new ways of getting that to the cryptocurrencies space and the tokens, initial corn offerings. In russia, burger king is in on the deal. It is called a whopper coin. Vonnie [laughter] does it come with anything on the side . Caroline maybe a few fries . [laughter] vonnie Bloomberg Technology will be airing, cryptocurrency special. Tune in with conversations and ceos Roger Mcnamee and vinny hrsam. M and fred e some of the biggest news stories right now. Amazon sold unsafe Solar Eclipse glasses and did not adequately publicize a recall according to a proposed class action suit by a South Carolina couple. They claimed it their eyes were damaged by watching the eclipse and they are seeking monetary damages and a medical Monitoring Program for eye injuries. Campbells soup posted disappointed earnings and the forecast number, Warren Buffett comments about unlikely merger in the business are also weighing on the company today. The fast Food Industry has suffered a threeyear slump as consumers shift to more natural and organic foods. Number of compromise devery karz at atms and card readers of 39 of on track to stack the number of compromised debit and card readers up 39 in on track to set a record. Visa has an october 1 deadline for atm owners to upgrade to chip technology. Meanwhile, u. S. Consumer spending rose by less than expected last month. It was up 0. 3 but an upward revision to june purchases and rising in, do put the in a common at duplicate the economy on a less stable footing. Businessour latest flash for troubles keep amounted for wells fargo. They found 1. 4 million or more fake accounts. We will have the latest. They found 1. 4 million more fake accounts. This is bloomberg. Vonnie this is Bloomberg Markets. Wells fargo, in the headlines again for all the wrong reasons. 67 more bogused accounts than initially thought. The bank is still trying to struggle to get past the scandal. Once again, wells fargo increasing the fake account 3. 5 million 67 to per i want to bring in laura keller who is writing 3. 5 million and i want to bring in laura keller. They did a me a couple and said they would not do it again. rugs they did not check under. Yes. Wells fargo has gone through and reexamined the old accounts and 2009,dded going back to doubling the amount of time they look that. In doing so, this new review found 3. 5 million bogus accounts , 1. 4 million more than before. Vonnie how many accounts a does wells fargo have in total . Inra keller they looked at the whole review 165 million. Vonnie 3. 5 million. Laura keller from that time period. Vonnie are they concentrated geographic look anywhere does geographically anywhere geographically anywhere . And theller a lot west. A lot in los angeles and arizona , and texas is another major area. Ceo basically lost his job and he took two days and there was no way he would leave his job. And then he left. Then they got an endorsement again from Warren Buffett who said their people out making mistakes and are always people making mistakes it will never go away. Now, this happens. Does it make a fool of Warren Buffett . Laura keller if you look at it in some ways, you can look at it he should have known more. Maybe his comments happened two months after. He told cnbc yesterday when you find one cockroach, you find others. Vonnie that is what you said at the annual meeting and not making a fool and the since he stood up but the management is an adequate if it is only coming up with these findings down it is only common go with these findings now. Laura keller you are sitting on something that senator Elizabeth Warren hit on and said Board Members who were around during this time, they needed to go. She has called for that to happen and that would be reported a record fine but only in the 180 million range but surely they paid more and other finds. And other finds. The record part is the Consumer FinancialProtection Bureau and a piece of that 100 million to the agency was a record. You are hitting on the criticism that wells fargo has had that 185 million was not enough for this period or what is in even longer period. Vonnie do shareholders care there were bogus accounts so they can get extra commission . Laura keller from the investor perspective, it comes down to money. How much will it cost . How Much Negative headlines will come out . Investors want to know what is the final amount of dollars and what is the timeframe i can put it behind them and look at the stock of fundamental . Agencies,has been one record finds. The criticism against them which is been pushed by republicans is did not find of the problem is that wells fargo had to tell them about it. It up toang on, its them to be inside of the banks and examining every transaction . Not everyer transaction but between them and the comptroller of the currency, they should have probably known things. I seem to your point vonnie i found the republican wanted it to go away . They are seeing it is not working hard enough but should go away . Laura keller yes and those 2 together. Vonnie laura keller, thank you. A fantastic job on wells fargo. I guess it may be over but it may not be over. It was not the last time. , resolved day and we will talk gary cohn at 9 30 a. M. Tomorrow is jobs day and we will talk to gary cohn and 9 30 a. M. You go watch all of our stories on the bloomberg. S and lots more. Stay tuned, more markets ahead. This is bloomberg. David it is 1 00 in washington and 1 00 a. M. In hong kong. Welcome to Bloomberg Markets balance of power with a focus on intersection of politics and the economy. The latest on harvey as the storm moves inland. The rescue effort continues as explosions rocket a Chemical Plant northeast of houston. President trump stumps for tax reform. They return to washington to raise the debt ceiling and figure out funding for the next year. Troubleder companys finances. Jared kushner dealing with several challenges, including hundreds of millions of dollars of debt. Mark barton has the first word news. Houston, texas, fire personnel and search and rescue teams have begun conducting doortodoor searches now that the weats