Maybe actually get something done hallelujah i got to tell you thats how i felt when i interviewed nancy pelosi, leader of the Democrat Party about how she looks at things for now you should know shes hoping for constructive dialogue between democrats, republicans, including the president which is something i pretty much had written off as impossible. [ buzzer ] now before i go into what i heard remember that despite todays sedate action, dow inching up 34 point, s p advancing 2. 6, nasdaq gaining 0. 40 we are on the cusp of an incredibly important fed meeting. The guys that keep buying on tech news like we got today. Im concerned about the fed meeting. If i were jay powell i might want to stick it to the president by saying, theres no need to cut Interest Rates we have plenty of job growth and the only possible slowdown is being caused by the trade war which is very much by design so why should the fed lift a finger to ameliorate the pain . The house of pain President Trump is out the
Ive been saying this openly. And they have lowered too slow. He took 25. Some people were hoping for 50. He did 25. Im not thrilled with the fed, despite that we have an incredible economy and no inflation. Chairman powells job is safe . Yeah it is safe. Sure, why not . You paused . I dont pause. He has a job, im disappointed in it. Im very disappointed in him. Neil the job is safe because the president cant fire him. Once appointed unless serious malfeasance or crime he is there, he is there for another couple years. Of course the president is free not to reappoint him. That is assuming the president is still in office to decide that. Former Treasury Department economist under president bush 43 David Beckworth with us. Obviously he is not satisfied with the quarterpoint move. He wanted more. We got data today to indicate maybe the fed was wise to make the quarter point and add to that the caveat it is watching other developments. What do you think of the data and confluence and . We s
Francine good afternoon if you are watching from asia. This was a couple of days after the news from the saudi attack on the infrastructure of saudi aramco. Bank raised its benchmark rate to 1. 50. They had flagged they would raise rates. Wereeason why people questioning whether they would do it is because the World Economy is more uncertain than a couple of months ago and you see a lot more dovishness from the ecb and the fed. Toit is quite difficult raise Interest Rates in this kind of environment. Eurodollar at 1. 1, and because it has been a very big week in oil, we have a look at the oil price. Norwegian krone on the back of raised, having a significant move to 9. 85. , we speak to the governor of the norwegian central bank. Dont miss that interview just after 10 30 a. M. London time. Lets get straight to bloomberg first word news in your city. New sanctions against iran are coming. This is from President Donald Trump in response to the attack on a key oil facility. Michael pompeo
Reporter hong kong drops and unpopular law but unrest continues. You can see the level that has been built up. Reporter argentinas debt crisis deepens. They have to do something to contain the flow of dollars out. Reporter the fed given more food for thought. A strong correlation with the session ahead. Not a great report, it is decent. We want to remove obstacles to Economic Growth. Reporter the top interviews on topics from trade to race. These give us reason to double down our efforts. Low Interest Rates have significant effects on turnover. We have the fundamentals right to deal with a slowing bubble economy. Reporter it is all straight ahead on bloomberg best. Hello and welcome. I am kailey leinz. This is bloomberg best, your weekly review of the most important analysis and interviews from Bloomberg Television and around the world. Lets start with a day by day look at the top headlines. The week began with the u. S. And china entering a new phase of the trade war with tariffs impo
Far we have observed that some of the longer Term Investment has the hard hit mostly from Foreign Investors because they dont want to place a plant and then it stopped then its subject to a tariff but overall the consumption pattern suggest the tariffs resulted reduction consumption is relatively small its mostly because of the domestic slowdown in income and expenditure and thats because a slowdown in consumption not really directly from the trade war some analysts are saying were kind of 2 and a half or 3 years away from a global did a global slowdown anyway if this trade war between washington and beijing carries on getting worse might that. Be in effect tipped over into being a global recession the likes of which we saw oh wait in 2 annoying. The Global Outlook is certainly getting more gloomy because of the prospect of both u. S. Slowdown and the chinese economy slowdown thats exactly exacerbated by the trade war but trade war is only part of the reason so president wanted to use