The economy faces new threats. Jay powell is going to be facing the Senate Banking committee for his confirmation at 10 00 wall street time on tuesday to be the next chair. I want to bring into half for some reaction. That wes speculation might hear something different. Kathleen this is a 2. 5page statement. The testimony is tomorrow at 10 00 wall street time or 5 00 here in new york. You can see the Senate Banking committee decided to put this out on the table. Lets just run through. As part of our fed team, i received these under embargo. Ive had a chance to look at this. Powell is expecting Interest Rates to rise somewhat further and the size of the Balance Sheet to gradually shrink. Is this a surprise . No. We know this is the path the fed is on. Theres nothing in here about inflation and the fact that it has fallen short of the feds target. The fed must retain flexibility to adjust policy in response to the economy. Subtle, nuanced way for jay powell to make it clear, as fed chair
And other americans. Global news, 24 hours a day, powered by 27 hundred journalists and analysts in 120 countries. This is bloomberg and Bloomberg Technology is next. This is Bloomberg Technology. Hammering out details to grab a andive stake in uber seeking a discount to invest in the startup. Our conversation with meg whitman, as she prepares to leave the company. We talk about her political ambitions. 10,000 andoaches we discuss the true value of the currency. Is leading investors to buy a huge stake in uber. A billion direct investments in the start of. This would put the uber valuation at 40 billion. At the most recent valuations, it was 69 billion. Joining me now is a Management Capital partner who was the head of communications in the americas and also with us is someone who covers uber for us. Where do we stand right now . The am waiting for documents to get sent out in the next few hours. Today is the expectation and it is a little behind schedule, as has everything been in thi
Committee democrats late into colleagues for forcing the bill through. The committee voted along party lines to advance the bill and gop leaders are hoping to take up later this week. A suspected libyan a militant was found not guilty of the most serious charges of the benghazi attack. He was convicted of terrorism charges but acquitted of murder. The attack killed a u. S. Ambassador and three other americans. Two more americans died in a mortar attack at a nearby cia complex. Global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. I am alisa parenti, this is bloomberg and Bloomberg Technology is next. Emily i am emily chang and this is Bloomberg Technology. Softbank is hammering out details to grab a massive stake in uber and seeking a discount to invest in the startup. Plus, our exclusive conversation with with meg whitman, as she prepares to leave the company. Friday ofout a wide topics, including her political ambitions. 10itcoin a
Permit to carry a gun in states that allow it. China engaged in security talks today with japan following north koreas Missile Launch today. This came after demands by President Trump for beijing to get tougher with pyongyang. Lauer, today show anchor, has been fired by the today show over allegations of sexual behavior. Global news, 20 four hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. I am alisa parenti. Technology is next area bl oomberg technology is next. Emily i am emily chiang. Coming up, the u. S. Tax overhaul could be to blame for the tech crumble. Ubersing its take on cultural uturn and Sexual Harassment, from Silicon Valley to washington. And our ride in the chevy volt and my conversation with the gm president. Tech stocks were caught in a massive selloff in wednesdays trading session, while the dow hit a new record, tech shares tumbled more than 1 , its biggest decline in three months. Abigail doolittle joins us. How common is t
Out, be ok very much in the mix. They are done with one. Have a look at this other chart. The question now is when do they follow up with the first rate hike in six or seven years . When you look at the spread between the three year and seven day, you still look at real rates which is the bottom one, still negative. You would assume that this one corrects both for the middle. Which essentially means either they hike once more which is or inflationthinks picks up which of the be ok says they will. At these, it does seem they are not done hiking rates. The question is when and whether or not the bond markets will listen. While we are talking about this, one is extending its losses as the governor continues to speak. Sophie has been tracking the moves. A lot to be thrown today. Dodging quite a bit. They have been able to resilient in the face of north korea. We have seen the korean won stick below that 1100 level for some time. As the governor spoke, we saw that slump in the korean won de