the early 1980 s when it was not clear the fed could control inflation and the 1990 s when the fed controlled inflation. inflation today is under control, but there are new challenges from trade. inhave much experience addressing typical macroeconomic developments, but fitting trade policy uncertainty into this framework is a new challenge. unemployment is near a 50 year low. inflation is not rising as the old model suggested it would. with inflation expectations so w, the neutral of rate neutral rate has fallen. incorporating a lower right into policymaking does not require a significant change in our approach, but it may demand more fundamental change. how they change will depend on the policy review the fed is conducting this year. he takes no position on where they will end up. does a promise to act as appropriate meet wall street s test? vonnie: i know we have to let you go in a moment. i want to get reaction from you to this speech. it says a lot for the jackson hole s
todayreasuries are posted closed today because of labor day. if you are americans watching us, happy labor day. this is the picture for euro-dollar. 1.09. have the german figure a short while ago that was worse than expected. the european stoxx 600 gaining but it is all about the trade war. up, we speak to the chief economist at 10:00 a.m. london time. let s get to first word news. it is sebastian salek. it forced 185 mile-per-hour winds and could top 23 feet. it may leave the islands devastated. uncertain if dorian could hit makeda on my or not landfall at all. argentina has imposed capital control. corporations will require central-bank authorization to buy dollars in the fx market fx market. the president is trying to stem the growing economic crisis eight weeks ahead of presidential elections. thelor angela merkel euro skeptic alternative to germany did not make a breakthrough in local elections. the result may save prices in berlin. saudi arabia is putting its
european markets, as you can see, have opened, and on the whole pretty flats. and how low can you go? signals of rock bottom borrowing costs from top central bankers and global growth jitters. its been a busy week in news. we ll get the inside track from our friday editor. today we want to know fortnite‘s world s cup, $30 million up for grabs, as a 15 year old brit reaches the final, are parents right to tell kids gaming is a waste of time? let us know just use #bbcbizlive. hello and welcome to business live. we start with online retail giant amazon, because it has revealed another set of mind boggling sales figures. ceo jeff bezos says efforts to make one day delivery the norm for prime customers are paying off, with accelerating sales growth. shares have fallen, though, as investors were disappointed with how little profit amazon is making on all that business. let s show you the details. amazon made revenues ofjust over $63 billion in the three months to the end ofju
surveillance. i am francine lacqua. these are your markets. a lot of these european stocks higher at the opening. now they are down a touch. let s call it flat. i am looking at oil. a lot of the picture is contingent surrounding iran so you see a little bit of a lift up for american crude. what is going on with these european markets and you are seeing it reflected in yen. yen is the one story that is the haven. any risk attitude is reflected on yen. european stocks, a lot of investors are looking at these amounting into political risks. ifore getting some figures. the german index, 97.4. we get up around we get the with hernan&a cristerna. let s get to the bloomberg first word news in new york city. the drumbeat for federal reserve rate cut is getting louder. minneapolis fed president says he called for a reduction at last week s meeting. these comments reinforcing expectations the central bank is on course to cut rates. trump says he would be able to demote fed chairman
disney expecting record times, have cap the visitors can stay to four hours. it opens to the public on friday. global news 24 hours a day on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. francine: thank you. as global markets react to trade says he, ray dalio views the u.s.-china conflict is more than a trade war. he calls it an ideological conflict. stanley, james gorman, exclusive interview in beijing. of the world s gdp is tied up in these countries. to have a major trade war would be bad for both. everyone understands that, i think. i hope they do. american and chinese ceos understand it. there is a resetting of this relationship, which makes sense, after 30 years of incredible economic growth in china, there needs a resetting. there are things on the trade side that are being addressed. do i think this will devolve? no. there is too much self-interest in keeping this thing on the rails.