Term. He talked about a weakening economy, headwinds developing enough to trigger optimism in the Financial Community that he is going to cut rates at the end of this month. Maybe not by a halfpoint a lot of people saw happening, maybe a quarter point, just in the course of his testimony, one of the fascinating things i discovered there was about 60 probability we would see we could see a cut in rates by end of this month. When it came to halfpoint cut down to 16 . But again the expectation is that a cut is coming. He is he is making the case for such a move. He is not telegraphing additional moves. We want to say on this, give you a flavor what is happening here. Democrats on this committee have been pouncing whether he feels pressure from the president of the United States, that he should essentially do his bidding to cut rates. He has said no, he doesnt think the president can fire him. By the way the president cant fire him or demote him. Leaving that aside he stood very strong on
[captioning made possible by the national captioning institute, inc. , in cooperation with the United States house of representatives. Any use of the closedcaptioned coverage of the house proceedings for political or commercial purposes is expressly prohibited by the u. S. House of representatives. ] the speaker pro tempore the house will be in order. The chair lays before the house a communication from the speaker. The clerk the speakers room, washington, d. C. , july 18, 2019. I hereby appoint the honorable Tom Malinowski to act as speaker pro tempore on this day. Signed, nancy pelosi, speaker of the house of representatives. The speaker pro tempore the prayer will be offered by our chaplain, father conroy. Chaplain conroy let us pray. We give you thanks, o god, for giving us another day. This has been a difficult and contentious week in which darker spirits seemed to have been at play in the peoples house. In your most holy name, i now cast out all spirits of darkness from this cham
Elon musk said all the right things on the call yesterday. More unless expensive models. Lisa we heard we will not get any details about if he can produce 25,000 teslas on their current infrastructure, wait until august. What about robotaxis . Wait for august. Jonathan i dont think you can look at this move without looking at it relative to the year to date loss. We were down by 4 and that we are up by 10. Listen to this, 2. 5 years ago, tesla was worth the same as the next 12 Largest Companies and thats how things have gone wrong in the last couple of years. Annmarie and the big issue is demand. They have very to different firstquarter results announcements. The numbers were bad and if you look at some of the rate at which new cars are leaving deliveries, that is not promising for elon musk down the road but the words are dreamy and its this idea of august we will get may be cheaper cars and a people model s and potentially a robotaxi. Jonathan jefferies says appeasing the market. How
The u. S. Plans to relocate to relocate its embassy to jerusalem. Abbas has said to be warning trump of the dangers of the move. It would fulfill a Trump Campaign promise made by previous u. S. President s and set aside due to regional concerns. Both of whom claim the holy city as their capital. For more, we turn to marty shanker, bloombergs chief content are officer. This is a really dangerous part of the world. Is. T as you mentioned, previous president s have made this Campaign Commitments that step back from doing it because they thought it would interfere with the Peace Process. Now, donald trump appears to be on the filling that Campaign Promise but at great peril to the mideast Peace Process which he has held up as a main priority of his foreignpolicy. Shery threatening he will seek to mobilize World Leaders. How is that expected to go . Marty World Leaders have warned donald trump not just the regional powers, but our own allies in europe warning against the dangers of making s
Negotiations and what they turn to next. We heard earlier this morning from mr. Jeanclaude juncker that they reached an agreement with the u. K. They will be able to talk trade in the next couple of weeks. We still have the pound fluctuating. Maybe investors were expecting more of an impact. Are at their week where it they had quite a bounce where they had quite a bounce. I am looking at the ftse on the back of that brexit, not much of an impact. That could change. Today we talk markets and Bank Regulations with andrea ocho andrea orcel. Mcewan and with ross we also speak to roland rudd. It is quite fitting that we havent brexit show this friday. Lets get to Bloomberg Business flash. Nejra the u. S. Congress has passed a twoweek the first toisions on decisions on settle some larger issues on spending and legislation. At the same time they will be rushing to finish work on tax legislation before leaving washington for the tax holiday. Al franken says he will resign to in the turmoil to