The technology that the boeing 737 max airliners utilized. Lawmakers in both parties say they will not let the boeing 737s take off again until they are 100 confident that consumer safety is going to be completely verify. That is the policy standpoint of this. From a practical matter, Dennis Muilenburg was asked on his way in by reporters whether or not he was going to resign. He said his focus is entirely on safety. ; and beyond that we should note that while Dennis Muilenburg will be testifying in the senate today and house tomorrow, the department of justice has the criminal investigation looking into matters, and lawmakers, especially democrats, not just looking at boeing, but also the International Regulatory regime, domestic regulatory regime, and the role that wall street ed in perhapsy pushing boeing a little bit too fast to adopt technology. Something the democrats and the figure have been pressing on his how boeing disclose information to the regulators. I can also tell you this is important to note, david ive spoken to republicans and democrats within the past couple of days, all of whom are somewhat very critical of boeing as it relates to the 737, but it also noted the role that boeing plays not just a mystically but internationally. 5 Million People fly on a boeing aircraft every day, and the impact this has from the economic standpoint, the ecosystem of american manufacturers as well as supply chains. A lot of attention placed on boeing in that regard as well. David on mr. A lot on mr. Muilenburgs shoulders on capitol hill. Return to alex harris in new york. A revelation to bloomberg from the treasury secretary about how they might approach the repo problem. It is interesting that secretary mnuchin is leaving the door open to loosening regulations year. There are so many Bank Regulators between the fed and the occ that i would not be surprised if we get some questions on this tomorrow at Jerome Powells press conference after the decision is released. David what role maybe jamie dimon played in all this jamie dimon said we would not put more cash into the system, we couldnt because of regulations. Maybe the government is responding to that. Alex very well a possibility. This is not going to be an overnight solution. We will look at this for months to come. The other important thing is this is an acknowledgment that the market is not working properly. You had all these changes post financial crisis. The fed and Central Banks have been involved. The market is not working in this capacity in the way that it used to. Were hearing from a lot of the smaller dealers in the repo market that are saying this does not work for us. This moreways to make equitable and get more players and here to get money moving again. Why keep everything concentrated with the big banks . David the question is whose responsibility is it to fix it. Saying, waitell is a second, we can wait for mr. Mnuchin. Alex it is very well possible that this is not want to come from one regulator overseer. This will take a coordinated effort, and it isnt just about the large banks and their role in it. Its is about the nondealer Community Involved in the rico marketrepo market, too. These smaller guys are having to pay up 20 to 30 basis points while dealers are getting funded in liquidity operations for the fed. Something has to change. It is not just about listening liquidity rules. David maybe mr. Mnuchin is willing to change it. Thank you to alex harris. Now we go to london and bloombergs Senior Executive editor David Merritt. Apparently Boris Johnson is going to get the election he so badly wanted. Finally thats right, after all of the debate and the speculation, the labour party agreeing this morning to back this bill to have an early election within a few days. They have not firmed up the exact date, but some of the 29th and the 12 of december, pre christmas election, first one since 1923. It will be one of the most unpredictable elections in modern times as well. This issue of brexit dominating, of course, when he has cut a swathe through the two main parties, and the votes on the remain site are going to leak to the liberal democrats and the votes on the hard brexit side brexit to Nigel Farages party. It is hard to see who comes out on top. Boris johnson well ahead in the polls at the moment gets an unpopular leader of the labour party, Jeremy Corbyn. In this first part it is hard to see whether that will translate into a majority. If it does, britain is set to leave the European Union on mr. Johnsons terms early next year, or we could see a remain coalition with the scottish nationalists and the liberal democrats and the labour party, and we could be looking at another referendum and possibly. Couldrd possibility, we end up with another Hung Parliament and the same numbers and britain could be back at it this election at square one. David w. so many possibilities. You point to an interesting question if this election does go forward in december come when people go to the polling places, will they vote on who should be Prime Minister or whether or not to leave the European Union . Two different questions. David m. two different questions, executive. Theresa may try to two ask this single question in 2017. This is like giving me a big majority to settle the brexit question. The public came back with a different answer. In the election campaign, as these things tend to do, it became about other issues care for the elderly, how much money the government is spending on hospitals and schools. That could well happen again, and it becomes a far more thelex conversation than one that the Prime Minister is asking at the moment, which is give me the authority to get wright state done. Get brexit done. We will see how the campaign unfolds in the weeks ahead. The public are not being asked to vote on one issue year. It is about who leads britain for the next five years. The visions on that from Jeremy Corbyn and mr. Johnson are radically different. David w. many thanks to David Merritt reporting from london. We get a check on how the markets are reacting to the top stories from if they are at all. Joining us is abigail doolittle. Right now as i look at the bloomberg and looks like a mixed message. Abigail youre right about that, makes messages, and it at mixed messages, and if at all. The fed meeting, as you and one of our other reporters were talking about, the meeting starting today. A very small move. Mixed messages in terms of health care doing really well. Alphabet putting up a lackluster quarter in terms of growth. To be fair to alphabet, 20 Revenue Growth, less than 100 Revenue Growth 15 years ago, but still present for big company. But then there is beyond meat, absolutely plunging. Beneath the surface movement, but on top, investors waiting for the fed. David what is taking the nasdaq down, alphabet . Abigail mainly alphabet is one of the big losers, but you also have apple down. A lot of the big names, microsoft, amazon. It seems as though some today are throwing the baby out with the bathwater, however you say that. There is not a lot of discerning among the big tech names. A little bit of a pause there. Putting an alltime highs, but the nasdaq 100 not today. David thanks so much to abigail doolittle. Always good to get a market check from her. We turn to Mark Crumpton for first word is. Mark President Trump and chinas xi jinping will reportedly sign an interim trade deal next month. The two leaders will be in china chile, to excuse me to attend the asiapacific Economic Cooperation conference. Lieutenant colonel Alexander Fridman testifies today before the three house committees leading an impeachment inquiry into President Trump. Vindman was on the july telephone call with the president of ukraine. In a prepared statement, he said he was concerned by the call and witness to other incidents in which Administration Officials conditioned aid to ukraine on an investigation of former Vice President joe biden. U. S. Senator and president of candidate Elizabeth Warren believes it should be harder for the largest u. S. Committees to hire former government officials. In a post published today, she found that vowed that a Warren Administration would ban some countries from hiring government officials for at least four years and it was multimilliondollar fines for violations. She said it is part of her plan to tackle corruption in washington. Wildfires in california have gotten worse, and now the blackouts will continue. California utilities make cut electricity to 2. 5 Million People. It is the latest in a series of unprecedented power cut offs aimed at preventing fire. At least 10 large wildfires are burning across the state, prompting hundreds of thousands of evacuations. Global news 24 hours a day, on air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. I am Mark Crumpton. This is bloomberg. He uks set for its third general election since 2016. Will Boris Johnsons plan for an early fall break the gridlock . We ask Heather Conley up next. This is balance of power on Bloomberg Television and radio. Is back and it is ready to be approved by a new parliament, and it will have a government that is yearning with every fiber of its being to be able to get on and deliver our onenation conservative agenda. David that of course was british Prime MinisterBoris Johnson speaking in Parliament Earlier today. It looks like he will finally get the general election he has wanted so badly. To take us through how brexit could change the election cap was, we welcome Heather Conley of his center for strategic and International Studies in washington. Thank you for joining us. Everyone says this is an unpredictable election, even if it does happen in december. What do you expect . Heather i think we will see a political fragmentation of the likes we have not seen in the u. K. We may see what they call tactical voting, which is going to be the parties that support a softer brexit or remaining in the eu will try to tactically vote in certain constituencies, and we dont know how the brexit party is going to do, Nigel Farages party. We have never seen an election in december in the u. K. Since the 1920s, and we have never seen this type of political fragmentation attempting to find a majority in parliament. It is going to be in extraordinary election, if they have it in december. David whenever we see an election anywhere the world, turnout is the issue. It is not happen, as you said, for a very long time in great britain. What will that mean for turnout, and if turnout is suppressed, what might that leader to . Heather right, again come what many u. K. Politicians are saying is that in middecember, you are to the longest and darkest days of december, particularly in the far north they may only have six hours of sunlight. That coulds depress turnout. People dont want to stand in lines in the dark. There is the question of the age of the voters in the house of commons. They are arguing whether to 17yearolds to participate. They want University Students to be able to vote and they want them to be in school so they can be organized to do that for the but if turnout is low, as we know in our own elections, usually the people that are the most motivated turn out, and if you have a low turnout, you will have the most extremes on both ends, those who want a hearty, determined, clear brexit, and those who want to remain. You get a very skewed parliament. This is the irony of this election, it may not produce a Parliament Majority for anything even if they go to a new election. David we are talking to Heather Conley of csis about brexit. I can imagine people rallying around Boris Johnson whatever you think of him. He is a very powerful figure. Is it likely they will rally around mr. Corbyn on the other side . Heather that is the problem. Unlikee Boris Johnson, theresa may, very popular, with the catchy phrases like do or die. He will be formidable on the campaign trail. But Jeremy Corbyn when they went to election actually surprised people on the campaign trail. Didid quite well, and labor much better. The opinion polls had conservatives 18 points ahead, and they lost their majority in the election. But you are right, Jeremy Corbyn is the most unpopular political , sincein the u. K. Records began Holding Opinion polls for leaders. If the labour party would somehow not have Jeremy Corbyn at the top of iticket, they would have different electoral fortunes. There are lots of intense about Jeremy Corbyn and his future as their leader. David we are talking to Heather Conley of csis in washington. I would like to turn from brexit to the european economy. We had a statement from mario draghi to madame lagarde as head of the ecb. In the course of that he made it clear that he thinks it is not enough to have monetary policy. This is part of what he said. Mario today we are in a situation where low Interest Rates are not delivering the same degree of stimulus as in the past, because the rate of return on investments in the economy has fallen. Monetary policy can still achieve its objective, but it can do so faster and with fewer side effects, negative side effects, if this will policies are aligned with it fiscal policies are aligned with it. David Heather Conley, he says we need some fiscal help here. What are the chances that madame lagarde she is not an economist should get that, or the new regime running the European Commission . Heather this is really the challenge. What Mario Draghis tenure at the ecb did was allow and give space and time for europe to reform itself come into some structural reform reform itself, do some structural reform, reform labor laws, and particularly germans to me as an investment to get growth back. Back. The Monetary Chamber is out of bullets. They cannot do much more. Weakens further, it is frightening that the ecb does not have the monetary ability to change those dynamics. Politically, europe is extremely fragmented. Madame lagarde has to come in both to heal the divisions on the Ecb Governing Council in which there are deep device north and south, but she has to really push european political germany,particularly to take steps basically do not want to take. That will bethey simply do not want to take. That will be her great test to be more successful than mario draghi was. David any chance that her biggest ally will not be germany but france . Heather you are absolutely right. This is in part why french president emmanuel macron, his domestic reform agenda is strongly linked with his european reform agenda. You have to get the street credibility and say, look, ive taken the hard steps and i know what it takes. We need space given for europe to be able to do some reforms as well. I think madame lagarde comes at a point where she has worked politically with Global Financial leaders, she has the credibility. But minimizing this gulf with german leaders, particularly the head of the German Bundesbank really dont like the direction the ecb has been taking. It will be interesting to see whether she will try him to agreeing with her way. David good luck with that. Thank you so much for Heather Conley of csis in washington. Still ahead, the stock is actually up, the stock of the hour, up next on balance of power on Bloomberg Television and radio. David this is balance of power on Bloomberg Television and radio. Im david westin. General motors is heading for its best day since june, rising more than 4 even after cutting its fullyear earnings review. Kailey leinz has more. There is the question not making as much money but the stock is up. Kailey the underlying phenomenal story looks pretty good. Were american trucks really strong for you have a Chevy Silverado of 18 on sales. That picture looks great and it seems to be offsetting the fact that they did have to cut their guidance by about two dollars on earnings for the full year because of the impact of the strike. 300,000 vehicles in production they are not going