For scotland if it votes for independence. Fedael mckee monitors the as its twoday meeting gets underway. We begin with Phil Mattingly as the u. S. Ramps up its response to the ebola crisis. What is the president going to be talking about today in atlanta . Tope is at the cdc with his security and health officials. A push today is theres going to be a new surgeon resources. There is a recognition the administration at this situation has spun out of control. You will see about 3000 u. S. Troops sent over there, a staging area to expedite the process of sending supplies and have a supply center in monrovia. By u. S. General. Someoal is to try to get someones of control over the situation. Some African Leaders have gone as far as to contact president obama, saying they need more of a u. S. Commitment. But why the surge now . Right now youre hearing theres a anyone concerned that this is a National Security issue. Not only is the Health Infrastructure not in place but you are looking at a point now where the population could consider overturning governments and move into a situation where its not just about controlling an epidemic, but controlling a wide ranging antigovernment strain. Governmentshese cant control their own people, there is major concern they will lose control entirely. What about the criticism that this administration has been slow to act westmark that they would pushback on that and say they have been ramping up over the months. But the criticism is real. Youve got about 5000 people infected, and about half that number had died from this disease stop what you hear from International Officials is the u. S. Is needed to lead. The u. S. Has to be the one that takes the leading role on this. There has been concern that the Obama Administration has not recognize that and today is a push to recognize that. What are members of congress thinking about this . I think theres some concern about u. S. Troops being in a condition to deal with and that did individuals. Whitet heard from the house saying engineers would be building units and working they will not be dealing with patients them selves. Good to see you. Thanks much. Borderaeli military says fire from gaza has hit southern israel. Its is the first rocket attack 50 day conflict in gaza killed more than 2100 palestinians and 70 israelis. It also destroyed thousands of palestinian homes before ending with a ceasefire on august 26. Remember that romneys supersize individual retirement account from the 2012 campaign . Turns out hes not the only wealthy american with big money in his account and that has members of Congress Making of changing the rules will stop our chief washington correspondent, peter cook has more on that story. Is to give here average americans a tax preferred way to save for retirement that taxpayers are taking advantage of the opportunity. Million people part 5 trillion in iras according to the Government Accountability office. That same report says more than 9000 of those taxpayers had 5 million in an ira and that is raising concerns on capitol hill that the accounts may be becoming tax shelters for millionaires and people like that romney. It made news in the 2012 campaign because he reported an ira worth as much as 102 million and everex plane how it rousseau large. Says its out of control and sweetheart deals were stock executives they be at play. He promised to include a review of ira rules in his push to overhaul the tax code. The average American Worker may only have 59,000 saved and wants to make sure the focus is on those americans. There is real money at stake are the government will stop the 17. 5 uncle sam will forgo earlier dollars in tax revenues thanks to iras will stop another hot tax issue is in versions companies merging with smaller or in firms to reduce exposure to taxes. Any sign of the treasury secretarys longawaited fix . The waiting game continues in washington will stop i interviewed him and he promised he would deliver his decision, his inversion takes in the near future. We still have not gotten word on when it is going to come. He told us if congress did not act, the treasury would act to reduce economic value of an versions, which you know congress is not going to do anything. Every tax lobbyist is focused on the Treasury Department today and a lot of investors want an answer as well. Investors in some of the companies that currently have inversion deals pending right now because he has promised action would be retroactive, including hurricane including burger king. Secretary leaves for australia tonight and will stop in los angeles tomorrow. He has an event at ucla, nothing to prevent him from making an announcement that hard to imagine he would make an announcement this significant on foreign soil. Treasury not giving any hints he on the very near future for that decision. A reminder that we are only a few weeks away from the a view of our new Bloomberg Politics broadcast, with all due respect. That will launch monday, over six at 5 00 00 new york time only on bloomberg. Frome just days away scotlands vote on independence and the polls are too close to call. Weve got a look at some of the potential pros of scottish independence. When is the upside of scotland going it alone . The many things the proindependence movement is talking about is the idea scotland would he come an advantageous tax environment for is this. They look at the republic of ireland where there is low Corporate Tax rate and have seen Companies Like google moving there. They think this would be attractive for businesses in the future. They also talk about oil revenues that are traditionally sent to london would belong to the Scottish National government. Theyre also looking at things like a lower deficit and talking about our wing costs would be lower for scotland and the united kingdom. There are a great the love things that will be advantages scotland. Side for what are the economic advantages of these incentives . Its difficult to say whether n a of these advantages they are talking about will come to fruition. This kind of referendum hasnt taken place before anywhere in europe. This idea that these nationalist politicians will the filler promises is not something any experts say is that likely and they will be waiting to see if the scottish people are going to decide this is the parliament they want and the decisions they want taken. At the moment, these are promises that cant be fulfilled. Tomorrow, we will move live from scottish vote to talk about the potential falls for the political classes in britain. That is wednesday on bloomberg. Coming up, discussion of the Exportimport Bank and congress deciding whether the charter will be reauthorized. I will be joined by ron kirk when we continue in just a moment. X welcome back. This is online streaming on your tablet, your phone and on bloomberg. Com. The fed begins at two day meeting today and though no move is forecasted this week, bond markets are beginning to price in a higher fed funds rate. That set off a debate as to whether the economy is ready for a rate increase. Michael mckee is looking at that. Inflation is really low, so if you raise rates to change the savior, the fed can move without a lot of risk. Companies invest based on the real rate. Take out inflation whats the real cost to me . The fed began cutting back on stimulus in january and look at what has happened. The real rate has gone down. The monetary rate has gotten easier. Its affecting the cost of money in any form, and here is the chicago feds measure that will stop how easy it is were companies to fund whatever it is they want to do. Up a little on that talk but still near all time lows. Nothing to fear but fear it self. There may be a new neutral that is there but we are away from that right now full top what about for individuals . Thats more nuanced picture. We see applications drop when rates rise but that officials dont think they are going to kill the market. You cant just subtract inflation from Mortgage Rates. This realsee Mortgage Rates are also locals you can get 1 interest on a bank account. Look how bad it really is. Savers are getting hosed thomas might beise in rates good. Thats why our investors so concerned . For many, its not about the first move, its about the last move. How high does the fed go and how fast . What would it be if you could cut it below zero given the qe and Everything Else . Rates not only deeply negative, but still going in that direction. The more aggressive the fed is doing that, the harder it its the economy. Caution fromued janet yellen and company. We will have live coverage of the feds decision at 2 p. M. Tomorrow. Plus a News Conference half an hour later with a chair janet yellen. Stay with bloomberg for comprehensive coverage on wednesday. The exportimport tank is the official Credit Agency of the United States. It supports a number of American Companies that provide equipment and acknowledge you for Energy Production all over the world. The banks are in authorization is set to expire on september 30. Ambassador ron kirk is cochair of the clean and Safe Energy Coalition and the former u. S. Trade representative. He joins me now in the studio. Line. Why domn you believe the Exportimport Bank last charter should be reauthorized . A big part of our economic recovery you were just talking about in terms of what the fed may do to enhance that has been the reality that we have been able to sell more of what we raise, grow and produce to all of these emerging consumers around the world. As counterintuitive as it is to many americans, trade is going to be a big part of our economic future. There is a next ordinary appetite for goods and services, but also energy of our to fuel the growth of these new companies. Why do you say counterintuitive question mark what do americans think they know about trade and exports but maybe dont fully understand . Asked considering bloomberg did a poll about the time i came into office that scared the pants off of make him i think you know most americans are very cynical about trade. They believe we come out on the end of a losing proposition and we swap cheap tshirts and laptops for jobs going elsewhere. Countryity now is our and our market is one of the most mature and successful in the world, we have a chance to asp other countries grow they begin to build their economies. Powery begin to invest in to fuel their growth, they are going to buy that power and by those technologies either from the United States or canada. There is a lot of criticism of this. The chairman of the House Services committee, the texas republican Jeb Hensarling says the bank riggs the Playing Field in favor of a few powerful fortune 500 corporations. Arent most of americas imports funded without assistance run the bank . Lacks many of them are but one of the ideologies out there is it only helps the big guys. 98 percent of them is what we define as small to mediumsize businesses, many of them deploying and using Export Import Bank as well. Its nothing more than a credit i nantz agency that guarantees and helps us in a situation where another countries government may have the scale. On almost half of the banks total financial exposure is for jetliners made by boeing according to the accountability office. Do you find it troubling when company has that much sway over the bank . When you are selling something at 4 billion to five lien dollars a copy, theyre going to take a big youre part of that portfolio. Congress over the years has imposed requirements that the aportimport bank have percentage of their portfolio go to small and mediumsize businesses. Perspective, having been a former mayor, as long as we are creating supporting jobs in the u. S. , thats a good day whether we are selling airliners, nuclear reactors, Farm Products or technology. Its a good place for American Business to be. What the bank was established after world war ii. Global economies were much different at that time. Date . The bank not out of its not only not out of date its needed more now than ever. We are not the only country that hasnt export credit dancing agency. The rest of the world has lived on looked on with not only envy but a sense that we want our share of the pie. We dont have the Playing Field to ourselves and europe anymore. Africa, russia have all admired what we have done but we are competing in a world for these new consumers. These are just one of the tools we use to empower American Businesses to compete fairly and win our share of the global marketplace. The extension of the charter being talked about right now would extended through june of next year. Would that create too much uncertainty and mobile markets . Other export credit agencies leap in to fill the board . This is not that difficult a proposition. Let me simplify it for your audience. Americans have more information about buying a car than we did when you and i grew up 30 or 40 years ago. I can financesays this for 3 and the other dealer at zeroan finance this interest, you know where they are going to buy the car. Other countries are doing everything they can to advantage their exporters and the bank is leveling the Playing Field. We need to extend that charter and i Hope Congress would get beyond doing everything on a six to eight month extension because that makes it more difficult for our businesses to go out and sell their wares if they are trying to get a contract for more than 60 or 90 days. About 30 seconds if the banks charter is allowed to expire, with the private sector step up and fill the delayed . I think the private sector can do some of it but they dont have the ability to do it in the way the Export Import Bank why not . A i think it would be critically inflicted selfimposed wound on american exporters for reasons i frankly cannot understand. The bank is self financing and compete in the global marketplace. We are providing a service the private market historically have not done. Does workimport bank and coincide with the private markets to provide credit financing. They do work handinhand. Ron kirk, chairman of the clean and Safe Energy Coalition joining me in the studio. Thank you so much or your time. Still ahead, we get the tuesday edition of on the markets and part two of charlie roses interview with apple ceo tim cook. Online on Bloomberg Television continues in just a moment. Line on Bloomberg Television continues in just a moment. It is 26 minutes past the hour, that means bloomberg elvish and is on the market. Olivia sterns is standing by with details. Stocks are rising and the s p is trading close to its session high. This as the fed begins a twoday policy meeting. Is up and the nasdaq is also up by 35 went. In terms of individual names, one stock you are watching is sears the struggling retailer borrowing 400,000 from its hedge fund owned by eddie lampert. They have been selling off assets to raise funds will stop the money will be used for general purposes. Another company we are watching is united airlines. Stops down by about an. 5 the carrier is offering flight attendants buyouts of the 100,000. The airline is hoping over 2000 employees will take the early exit plan as they look to cut costs. They were the only u. S. Airline to post a quarterly loss this year. Welcome back to the second halfhour of bottom line on Bloomberg Television. Thanks for staying with us. Time for the commodities report. Su keenan joins us now with details. Good afternoon. A big jump in Oil Prices Today as opec signals that the cutting could be ahead. One trader says that after a recent drop in prices investors were looking for a reason to get back in and this was it. Est texas media rose 2 the entire complex was up on the secretarygeneral and the fallingoutfit target possibly my hat billion Dollars Per Day in 2015, bringing bringing total daily production down. They also reacted with exxon, chevron, leading the Industry Group higher. Opec Officials Say than they are not concerned and see no urgent need to respond to oils recent drop which you can see in the big picture. They see it causing normal fluctuation and seasonal behavior. Mexico, getting ready for a pet thats possible second hurricane. Check out these before and after shots of one hotel. Just as, saint lucas recovers, a new storm is approaching. So far this Hurricane Season with just two months left the u. S. Oil industry has so far been spared. Copper trading got so heated they had to take a timeout . Real interesting. For 10 timeout, halted seconds because of a huge spike in volume. By noon trading in the contracts had surged to more than 10,000. Circuit breakers kicked in and at that point it was up 4 , the biggest intraday increase since 2013. Strategists say that the price spike is all about speculation it that the fed will increase rates in the near term. Futures. Fall in crop along for the ride on speculation that it would be a bumper crop. Coffee bounced back from yesterdays drop. Orange juice took a dip as prices fell and there were no hurricanes insight on the east coast. Su keenan, thank you. The National Football league continues to address numerous off the field issues involving players and violence. Adrian peterson, of the meadows minnesota vikings, has been accused of a second incident of child abuse. Ray rice, the former running back for the baltimore ravens, is expected to appeal his indefinite suspension. For more i am joined by trish reagan, who joins me in studio. The nfl has hired some new personnel, what is their job, who are they, and does the American Public see this as a Public Relations ploy . I think we can all see through this one, it looks like a Public Relations ploy, but maybe it will do some good. Three women formic five women will be forming a committee to look into three women will be looking into a committee on violence and nfl policies when it comes to domestic violence. You and i talked about this before, it is clear that they make a big business mistake. They should have gotten in front of this issue much earlier on. Not need to see the rest of the tape in order to come down harder on ray rice. Now of course there is Adrian Peterson and that second accusation of child abuse for Adrian Peterson. This comes on the heels of greg hardy, who is out there suiting up and playing, despite having been convicted in court for domestic violence. Two cases. Last week you and i talked about while there did not seem to be this cry from the sponsors, especially the corporations who are headed by women. Are we hearing more . We are. Radisson hotels has come out to say that they are pulling their sponsorship in minnesota after the whole Adrian Peterson incident. This is the one that may come down to. Clearly we havent seen much of the way of leadership from roger dell and the nfl or a ton of leadership from the teams and the owners. But maybe, and we see this time and again, money talks. If you have a sponsor saying that we are taking a stand on this and dont want to support this kind of behavior, then maybe you start to see some change in terms of how the league views all of this. What is coming up on street smart . A lot of discussions planned around isis, more on the nfl, and of course, calpers. And of course miss america will be stopping by. The message violence is actually her platform. We will talk about that. And we will talk about the talent numbers that she did. It caught on like wildfire. Trish reagan, street smart, top of the hour, appreciate it. Up next, tim cook talks about ideas and policy with his interviews with charlie rose. We will have some highlights coming up when bottomline line continues in just a moment. Thisoomberg is the only is news service being offered on amazon and was on fire tv. If you missed any of our interviews, you can now watch them on apple tv, which features Live Streaming and ondemand videos. Tim cook does not do a lot of interviews, but last week he set down for an extended conversation with charlie wrote charlie rose. Discusses where the ideas come from. Sometimes in the valley everyone can get so fixated on one thing. And do companies pop up those things and you are not thinking enough about the next, next, next. It is something that we think about. I dont know what the answer is. We always have some ideas here and there. Give me one. I dont want anyone else to copy us. In this country we have had to deal with Edward Snowden and other incidents. We have had to try to come to ,rips with the idea of freedom privacy, and National Security. Where is that debate . It is a tough balance. Countrythink that the or the government found the right balance. I think that they aired too much on the collect everything side. I think the president and the administration are dedicated to moving a pendulum backwards. However, you dont want it is probably not right to not do anything. It is a careful line to walk. You want to make sure you are protecting the american people, but there is no reason to collect information on you. Or 99 of other people. You can watch the full interview with tim cook on charlie rose on bloomberg tonight at 8 p. M. And 10 p. M. , new york time. Now it is time for todays latin america report. Columbias economy grew slower than forecast in the second quarter. Gdp expanded by 4. 3 compared to one year earlier. I sat down with the countrys finance minister right after the gdp results were released today and began by asking him about the growth outlook. Hoping that the economy grows this year at the rate of 4. 7 . This is completely in line with what we had expected. Construction and public works, are they still the big drivers of the colombian economy . It is the fastestgrowing sector. Because of Housing Demand and also the Large Infrastructure Program underway. Why is industry still one of the weakest sectors . We have had difficulty. The u. S. Is our largest export market. Also, the colombian peso has not helped manufacturing or production. Plus competition from china, explain why we are seeing negative numbers for the manufacturing or. We however expect that to change in the second half of the year. Just mentioned china. How immune is columbia from the slowdown in china . More than others. The main reason is that first we dont export that much to china directly. Andre dependent on minerals that protects us from the lower growth and lower mineral prices resulting from china. Lets speak about currencies for a moment. The colombiane, peso has fallen the most in the last month. Would you welcome a further drop or has it fallen enough . The weakening of the peso has been good news for the economy. It is very important for increasing our competitiveness in the culture and the manufacturing. Our currency was too strong. Situationted in a that may have made it difficult for colombian producers to be. I think that a weakening of the peso is a healthy outcome. Your government is forecasting the first fall in oil out but in almost a decade. Is the oil and mining boom coming to an end in columbia . No, it is a process. It has moved very fast. Making sure that we understand the current production, from one Million Barrels to per day to what we expect to get, 1,300,000. That is the main target of our strategy in the oil sector. Government isan planning to extend the net wealth tax. You believe that this is a deal they could help with income inequality, but what about businesses . Are you concerned at this point that they might repatriate revenue to avoid that tax . I think the wealth tax is something that has been established for a number of years in columbia. Its nothing new. It has been part of our success. With the wealth tax we have been able to improve security conditions. We have provided the Defense Sector with more resources. You know that criticism of attacks like that say that it is punishing success. Well, it is something that we need to make sure that the colombian economy keeps its current momentum. We are the fastestgrowing economy in latin america. We need those revenues to make sure that we maintain our security and defense conditions and at the same time we get the revenues that we need to reduce inequality in columbia. Thats another challenge that we have and have to work at work on. That was the finance minister of columbia, and that was your latin american report for this tuesday. Coming up, a truck that can climb walls. We will look at the rigorous testing needed for military vehicles. Question, can your truck climb walls and go vertical . Probably not, but i cant is making a new vehicle it can. However, the truck needs to go through some tough testing. How often do you drive is . This is a daily opportunity for myself. An hour and a half outside milwaukee, hes driving a 28,000 pound military cargo truck through ditches and potholes. Hes the senior technician for the biggest provider of military ground vehicles, the oshkosh corporation. The company is in the tight competition for 27 billion contract to make a truck that will replace the humvee. The dod has asked for a minute resistant truck with more maneuverability. Oshkosh is hoping that their new light tactical Terrain Vehicle gets built. Before a truck can be sold to the military, it must pass a rigorous processes. Oshkosh has set up a test track at their headquarters. The track is short, only about one mile long. Itll to replicate the worst offroad conditions around the world. We have override the of features that allow us to put the truck through its paces. He makes sure that it can pass the official battery of tests. Lets talk about tree features. Out here we have grades between 20 and 60 . We have to be able to negotiate these grades. Slopego on to a side where the angle of the earth and the pavement itches to one side, it is a measure of stability for the vehicle. The third thing that we have out here is our vertical step climb. This is literally a vertical wall that we need to ascend. Howre are you doing . Doing great. It is one of three finalists in the running for the 55,000 truck contract against Lockheed Martin and a. M. General. Winner of the new vehicle contract will be announced next summer. Nasa is a giant step closer to launching americans again on u. S. Soil. Nasa will announce which of two private companies gets to transport astronauts to the International Space station, ending their expensive alliance on russian transport. Intenders include spacex california, sierra nevada, developing a mini shuttle, and boeing, which would assemble its capsules at kennedy. They have been riding russian rockets ever since the shuttle retired in 2011. The latest price tag is 71 million per seat. Stay with us, another check on the market is on the other side of the break. We continue in just a moment. We have the latest headlines of the top of the hour on bloomberg radio, streaming on your tablet and bloomberg. Com. That does it for this edition of number online. Thank you so much for joining us. On the markets is next. 56 minutes past the hour, bloomberg tv is on the markets. You caught up with where the dow jones is trading. The nasdaq is up by 33 or 34 points as the fed went through a twoday policy meeting. We will hear from janet yellen tomorrow. We want to highlight some individual movers for you. Owing is expected to be announced as the winner of the nasa contract according to a person familiar with the contract to build something called the space taxi. We are also watching shares of Lockheed Martin today, up 2 to an alltime high. The company is teaming up with blue origin. The partnership hopes to develop a new rocket engine. Defense companies are the focus of todays sector. Joining me for more, our bloomberg senior analyst. George, thank you for coming out. Great to have you in new york. News coming out of boeing, looks like a space taxi that they have been elon musk two. How much money will it cost . Not as much as some of the defense contracts they get, but it is a good example of the brett of skills of the defense contractors. Boeing does a lot of work in ,yberspace inside of space taking it away from an Elon Musk Company . The government likes it as well. Experience lot of moving commercial products. They can deliver things on time. It is becoming much more important in the defense world. I think that that gives our defense products, especially ones with commercial experience, a leg up. The dreamliner was not so timely. No, but i think they have learned their lessons. Saidring the break you that we have seen a buying binge. Who seems to have the most appetite . Talking about commercial airspace sides, so we are seeing a lot around the world. There is a lot of growth in the region with lowcost carriers onthefly for the emerging middle class. So far this year we have seen the rise of the islamic state, we have seen crimea and nato forces, european in particular having new geopolitical risks translated into increased defense spending. No, not yet, and it will be difficult to see it. Government budgets are generally under pressure around the world. For example, isis inside of iraq , what we have seen inside ukrainian crimea, it has not risen to the level of getting people really upset. I dont think the u. S. Population is ready to put boots back on the ground. We are just not ready to spend that kind of money. We overspent on the air force and the navy for all those years. I dont think that the Obama Administration wants to go too far down that road either. That make sense. Of course all of those primary contractors are still with us. George ferguson, thank you so much for joining us. In the meantime, street smart is next. Welcome everyone to the most important hour of the session. We of 60 minutes to go till the close. High demand for alibaba. What this means for Ecommerce Companies in the u. S. Fighting the backlash against