tv MSNBC Live With Ali Velshi MSNBC December 19, 2018 12:00pm-1:00pm PST
that is it for me on this wednesday afternoon. ali when i left you or you left me earlier the market was still up, now it is down you can see 224 points. it 232, are you surprised? >> nothing surprises me on these markets any more. it is hard to keep this market up. it got what it expect gd, but in the end this is a down market. people are looking for more reasons to sell than buy. not terribly surprised. i think it would have been worse the other way around. >> i will hand it off to you, have a good afternoon. >> good afternoon to all of you. political considerations playing no role whatsoever in our discussions. that was jerome powell, they say they are raising the key federal funds rate and it signalled it
could raise rates at least twice next year. the head of the bank resisted. powell says the economy is still strong, but he acknowledged some growing concerned. -- concerns. >> the economy has been growing. inflation has been low and stable. all of those things remain true today. >> since the september meeting of the fmoc some cross currents have emerged. >> that is federal reserve speak. the comments came after one of his predecessors said the bull market was over and had this ominous prodiction. >> it would be very surprising to stabilize and take off again, but it has happened in the past. however, at the end of that one, run for cover. all right, here is a look at what came from the markets.
markets went from being up more than 200 points to getting into negative territory for a little while, then it went back up, that is when jerome powell spoke. and since there, you have seen this market dropping fairly precipitously. down 335 points. i suggest that not much will happen to change this in the next hour but i will look at it closely for you. everything is moving lock step right now. the dow is down but they are now off more than 12% from their highs this year. that puts them into correction territory. all of the markets are down for the year. let's carry on with this conversation. i want to look at interest rates. this is the most important thing that we're looking at. you see interest rates having
gone up quite a bit and then down, you see the last recession how much they went down? they went to zero and that is where we have been, we have been increasing since then. now the president is worried about the impact of the trade war. let's get into this now with the chair of the federal deposit corporation. and the systemic risk council. they're a sector of financial and legal experts that address structural issues. tell me where we are in this
moment. you had janet yellin saying a recession may be coming at some point in the next couple years, give me your evaluation of where we are? >> i was opening they would get back there they went ahead and raised rates. i think the market is acting negatively because of that. they waited too long to start raising rates. that is what accommodated monetary policy does. interest rates go up, asset value goes down. you see that in the stock market, the housing market, and hopefully we can get through that. we need to go very slowly. i wish they pit pause, they didn't, i think they are doing everything they can to serve the public interest, and i think
they need to listen to some experts and what market is telling them. >> so the adjustment you're looking at, the do you now off 400 points. as people get used to what higher interest rates look like, they're doing other things that you can invest in other than he is one of those people that says don't raise interest rates, but as you know very well, i don't remember any point in history where a mississippi man said to a fed chair that you should increase interest rates. it looks like they're trying to defy him. he really needs to be quiet on
this, it is not helpful, and this public pressure is really inappropriate. >> when people talk about recessions, but most of them are not like the last one we had, some can be little blips. but we go back to 2008. what is your sense of how we should be looking at the next couple years, economists say there might be some times where recessions come. >> we're very long in this business cycle, we're getting towards the end. the benefits of this recovery are finally filtering down to
middle and low income working families, and so another reason why i really hope that the fed will be very, very careful about it. i'm hardened by the fact that they think we'll be above 2% growth next year. i hope that is right, but one of the things that could really mess it up is if the financial system is disrupted again and we need to look carefully at credit conditions. mr. powell referenced tightening positions. you know, after the crisis we had a lot of leverage in 2008, and that shifted to the government's balance sheet and corporate balance sheet and it is a percentage of gdp, it is a very stressed market right now and that is one of the many years they should be looking at for financial stability. we will have a sere recession if they close down. >> thank you, sheila. the former head of the -- it is
bouncing back a little bit, struggling to keep some momentum. this time i want to talk about syria and it started with the presidential tweet. trump said we have defeated isis in syria. my only reason for being there during the trump presidency. the department of defense did not agree with that. they released a statement after that saying the coalition has liberated the isis-held territory, but the mission with sooi isis is not over. joining me is kristin welker, the policy announcement seems to come out of nowhere, and it seems like they were caught off guard. >> that's right, let me read you what white house is saying officially at this hour, ali, about this intention by the
president to withdraw a number of troops from syria. now the united states defeated the territorial califate. these do not signal theer words carefully there as she deals with the reality of what so many have said that isis is still a problem. and the militants that are there and give new rise to isis. that is the concern among a number of allies. that this is something that president trump has been signaling. he talked about it as a candid on the campaign trail. this is part of his american first foreign policy, but it is
not without controversy. we have not heard from the president today. he has not officially announced this. you have that sweet that you read, the president durnd have public events, but clearly a lot of people would like to. >> yeah, they say why do you always over his tweets? there may be a policy shift under way and we need to figure out whether or not that is happening. people are wondering what the implications are if it is something the president tweeted situation. there is a lot of days i would rather not do it. but there could be a significant policy shift under way. good to see you as always.
>> i want to gring in gale let me start with you, isis is not gone. we made this mistake in the past before when we think something is over, there is a measure flished, not to say there is -- >> the territorial holdingings of this group and the group itself. yeah their nearly gone, down their down 1%, but in terms of fighters, according to three reports done, the group now has between 20,000 and 30,000 fighters which is more than the cia estimated they had at their 2008. >> yeah, and don't forget they
implanted themselves in iraq and syria. it held almost no land at all, and it was incredibly destructive. >> what's your take on this? >> there is no question that we have had lack of success, lack of action at certain times at times. at least last administration, but what does it look like right now. >> i just got back this weekend and i think what so few people paid attention to is that almost alone in the post seven conflicts is a story of real forward momentum and that is with ten fewer combat deaths, they are u.s. backed forces and
they're supporting moms and dads, i have had the prif lvile of speaking to people who are enjoying the stability brought to syria, and we're so unused to seeing forward progress people don't realize how much good comes. >> this is important, the other thing, to keep in mind is that if you create a vacuum, and there are countries with vacuums, others will fill it. we know there is real presence, and america doesn't fair well when there is big power vacuums around the world. >> yes, and our allies on the ground are dependent on american air support and logistical
support, and to hold the territory they have taken back. so it is going to weaken those allies, there is russia, iran, and turkey vying for the same space that is also a wrinkle here. >> one of the things in the president's tweet, that's not entirely true, the problem in syria has not been isis. the just is working very hard to keep the focus on the policy, on isis, and encountering isis, i think that is why there is so much concern about the policy discussion right now. they are fighting every day to keep isis at bay.
i was interviewing school teachers last week and they say we want to thank the internation gn al community for being here, it is a necessity. there are moms and dads fighting extremism every day. and you know if isis has been defeated i don't think anyone has yet told them. president obama, i will give donald trump this, it is not hard to figure out, it is not easy to figure out what the right thing to do in syria is. >> that is true, but i think history provides a number of lessons. the last time we declared mission accomplished against this group, they had less than 1,000 fighter website if today the inspector general of our own military, of the pentagon, is saying they have between 20,000
and 30,000 fighters, that points to the fact that this group is far from defeated. that shows what happens when they pull out too quickly. >> i'm keeping my eye on the markets for you right now. >> the felt is making anounlsmentes. and the fed said there is cross currents. up next, a rare act of bipartisanship and a major overall in the criminal justice system. now it is headed to the house of representatives. a sponsor of the bill will join me to talk about what we gains and what is at stake. -meg! there you are. did you take a picture of the cake
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with concerns still looming over a potential government shut down, congress members showed on tuesday night they can work together across party lines. they passed a bill known as the first temperature act. it could also pass the house tomorrow, it only deals with federal prisoners. it affects about 180,000
prisoners, a big number, but less than 10% of the total u.s. prison population. a reduction in the mandatory minimums, freskly the three strikes. it lowered the penalty from live in prison to 25 years. and it addressed a disparity between crack cocaine and powder cocaine. that disproportionally affected black inmates. finally the bill also addresses how inmates are incorporated or reincorporated back into society. they would be eligible for immediatedness reductions. most of the prisoners would be sentenced to a place within 500
miles of where their family is. jared kushner was a big supporter of friday we form. >> jared kushner played a key role in this, he did more to line up republicans in the right on this issue, than anyone else, and he deserves credit for it. >> but there have been a lot of people of all political stripes. and for many people it is just a first step toward comprehensive friday reform. for more on this bill i'm joined by a mash r man that is joined by more than five years in congress. he is a republican congratulations on seeing the fruss of your labor. >> last night was a maizing. as you just said we worked on it
for many years and it started after failures in the other congress. we came together and we said beef it up, bring it up to something of meaning much prison reform, and laif it where they can do what we know they would like to see so we can see this place work. >> sprat and apart from the fruits of this particular bill, the idea that that is a gron straight of how -- >> it is those incarcerated now. we know people will make mistakes. they're still there happening in our system, what we're doing in this bill is taking that first step to say if you want to be evaluated when you go to prison, let's look at why you're going in, let's look at addictions,
job skills and training. those kind of things, they can take a ridder and they can work on those skills so they can go home and be reunited. they can be growing members of their family. this is about people and life and hope. we understand that that is the best time for that. that is what people should be taking away from it. >> we just incarcerated a lot of people in america. most of those people are in state prisons. you have taken some impacts from zaz that has been one of the leading states in dealing with this. what did you learn there that you didn't know that you would like to see spread all through the united states in terms of friday reform. >> one of the reasons we want today do this and the white
house, and the president, and jared kushner, we were formulating as a house. one of the things that we brought up in particular was look at what happened from a federalist perspective. you made it clear that most of the inmates are state or local level. and states like georgia, we were spending nearly three billion collars on corrections in georgia. he said there is more ways to look at it, see how can we take these inmates, get them out of prison with the skills they need, and states and locals are able to do this better. so that we can make a family concept of saying how do we help them. for those that want help, there is availability. what we found was that in states where they did this, there was so many, we started to see the
head of it, we said let's let the federal, even though we only have 10%, let's be the example to say that it is now time for you to have that political kour amg to cross the aisle, go to your communities, and ask for support. >> so it wasn't changes in georgia, for the juvenile justice system, but what did you think of that? >> even at this time in the holiday season, they want it on the list. the art of the possible. that has been missing for many years now. we brought it back to say here is what is possible. this is a house that went to the senate and we said we're going to work with you. we stayed. >> you have a lot of other
things i would love to talk to you about, but i appreciate we had this conversation and that you made some real problem, i will watch this closely, but i invite you to come back in the next few days. we have other business to take care of. >> congressman doug collins of georgia. coming up next, from amazon to facebook getting 150 companies getting access to facebook's private data. you're watching msnbc. life isn't a straight line. things happen. and sometimes you can find yourself heading in a new direction. but at fidelity, we help you prepare for the unexpected with retirement planning and advice for what you need today and tomorrow.
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the "new york times" has revealed how for years facebook gave over 150 companies access to your personal information. the times got their hands on internal documents saying they traded your data en whven when facebook maintains they don't sell their data. >> we use the data that people put them into the system -- >> we're not controlling that data. >> no you have complete control
other that. >> they also gave spotify, netflix, and the royal bank of canada the ability to read, write, and delete your private messages. as we saw, not all companies play to their policies. things that feel abulsisive or irresponsible. it is a new revelation to make money and we're increasingly shocked. we're seeing that protests they protect they data, they're safe guarding our data, and they're
blowing through that. >> they get answers now, parched in a way to say we didn't say it and now the valued proposition, we're not charging it. they would make facebook more valuable. they would gather more data over there. it just gets creepier and car r creepier. >> and the new yorker reported a story with mark zuckerberg talki talking on a phone, he says if
you ever need information on anyone from harvard. and he says people just submitted it, i don't know, they just trust me. he informs college. he didn't know if this was serious or not serious. he said they just trust me with their information. should they or shouldn't that sni what does zuckerberg say about control over your data, is that true? >> what that shows us right there is baked into the system of facebook zuckerberg was the data broker from the beginning, from the get go, and he built a system to play around with to capture more data and use it in ways to enrich himself. that is baked into the system. we have known that since 2010. we have seen that for eight years. >> but in 2010 we didn't really get the fact that it was all of the value to the company.
>> as a guy dealing with this and thinking about it all of the time, to what degree -- it is not as true as zuckerberg led people to believe. we learned all of the ingredients of it and it is less and less true. it depends on how you define control, but based on what people know of what that means, it seems good for his believes. >> all right,negative headlines for facebook are not over, they were sued by the district of columbia for their promise to protect user data. it is about the cambridge analytica. they improperly collected tens of millions of facebook users
data. good to see you, thank you for being with us. >> good afternoon. >> you have thin larger item, right? your slice is what? what is your particular complaint that you filed? >> well, i'm an attorney general for the district of columbia. from the terms of facebook users, they produced information to us that revealed that nearly half of dc residents of the population had their user information. what we're suing from is really to try to get facebook to live up to their obligation. and to protect user information.
to inform user of how their information is being provided to others. to give users a voice as to who can access the user information and for what purpose. >>. >> and making claims for the restitution, from the residents that have been affected by this, how do you calculate the value of what people have lost when they lose control over their information. >> our statute does provide a mechanism for calculation. m maximum penalty is $5,000. we want to see it from faze one. >> that was my next question, do you know what change looks like.
it feels like members of congress are not in position to build it around social media, do you know what it looks like? >> i think we're starting to look at what success looks like. i think in a bipartisan way it can lend a helpful hand in this regard, i know that several of my colleges on both sides of the aisle are investigating facebook, we're open to a resolution that brings clarity and security to people. >> i hope we get somewhere in figuring out what clarity looks like for people using social media. thank you for joining me. >> up next, two days to spare, senate republicans roll out a bill to avert the looms government shut down. it will help win the support of
dcs, a democratic senator from wisconsin standing by and joining me after the break. . before she puts them in the dishwasher. so what does the dishwasher do? (vo) cascade platinum does the work for you. prewashing and removing stuck-on foods, the first time. (mom) wow! that's clean! (vo) cascade platinum.
the short term legislation, but the white house has not signalled whether or not the president will sign the bill. tammy baldwin sits on the appropriations committee. i don't know if they're off that week, the president wanted do build that wall. and huckabee-sanders says if we don't get it out of the resolution we'll get it out of the agency, it's still the same money. >> it is, and no question that president trump has decided to go to american taxpayers in order to get $5 billion right now for this wall. and you know, his campaign prom that mexico would pay for it. and there is just no appetite for that in the house of representatives and the senate. on a bipartisan basis i might
add. but the situation is that we have the remaining funding bills already to go. kicking the can down the road until early february, that is disappointing. at least we'll avert a shut down over the holidays, but doing our job and having the president do his, you'll see he should be responsibly funding the government. >> we just saw a ruling in the state of texas, a federal judge saying it is unconstitutional. we know from the last midterm elections it was the biggest issue for most persamerican vot. if someone has a better idea, they're welcome to bring it to the floor of the house of representatives for actual
debate. what do you see happening. >>. >> when the senate defeated a bill that week and following that we came together with bipartisan legislation to address some of the real issues that needed addressing in the affordable care account. access beyond where we already achieved. there is too many that applies partisan politics. they referenced the administration taking action after action. i see it in my home state of wisconsin where the election was fought over the issue of health care. and i won reelection by a resounding margin as did every other democrats at the top of the ticket. we ran on health care.
we ran on trying to withdraw wisconsin from that lawsuit. we ran on lowering the cost of prescription drugs. we want to make sure that republicans finally join us in this effort rather than continuing time after time in forum after forum to repeal health care. they could not get coverage at all sometimes or at affordable prices. >> i hope this criminal justice reform bill might be a template for bringing people together. speaking of the election, you won and a lot of people like you and a lot of democrats on at the state level. republicans in wisconsin are trying to strip the incoming governor and legislation of powers. it ri kuss early voting and gives them early voting over certain things, what is
happening. >> it is an enormous act of disrespect. all of our campaigns at the state level were focused on issues around health care, and a lot of the emphasis on the part of the attorney general were to withdraw wisconsin from this suit. and to do things that would bring more affordable coverage for the people of wisconsin. one of the first things in their lame duck session that the republicans and the legislature did and now the governor has signed is just the opposite to try to restrict the powers of the incoming attorney general from the lawsuit and to do other things that would bring more health care at an affordable rate to wisconsin citizens. on early voting, what disrespect to the voters. time after time this republican led legislature and the governor have restricted access to the
poles in wisconsin. on the issue of early voting, just a few years ago a federal court judge struck down an earlier effort. they filed suit in the same court. i expect it will happen again. >> thank you for joining me. senator tammy baldwin of wisconsin. up next, blocking the policy. . ruling that those policies violate existing law. we're going to have details on this major rebuke to the president and who made the ruling, you may know him. - [narrator] the typical vacuum head has its limitations,
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[woman 6] ask your rheumatologist about humira. [woman 7] go to mypsaproof.com to see proof in action. in a major blow to president trump's immigration agenda, a federal judge is dismissing several justice department policies that make it harder for immigrants to claim asylum because of domestic abuse and gang violence. the judge, by the way, happens to be this guy. remember him? from yesterday. this is u.s. district judge emmett sullivan. the same judge who unexpectedly warned trump's first national security adviser michael flynn yesterday that he could sentence him to prison. with me now, nbc news justice --
national security and justice reporter julia ainsley. put aside the emmitt sullivan stuff like this is a guy i didn't feel like i knew before yesterday and now i feel like i know him very well. this speaks to a very basic reason that many people come to our borders to seek amnesty from domestic abuse and from gang violence, particularly in central america. >> that's right. and the thing is if it's not the same as a domestic violence incident that might happen in the united states where you can call 911 and the police could come and break it up. or being threatened by a gang. in these countries -- guatemala, el salvador and honduras in particular -- a lot of times the police are corrupt or not able to intervene. and a lot of times domestic violence is because someone was forced to marry a gang member. this may not be someone they chose to marry. so it's a really different way of looking at it. the case that then-attorney general jeff sessions tried to make early this summer when he put this into effect was that these people were somehow abusing the asylum system
because they were using these internal household disputes as a reason to come here and act as if they were fleeing from persecution. as the aclu pointed out in this lawsuit, these people are persecuted and their governments aren't able to protect them. and women classify as a social class. that was the case that they made. that's what they -- the attorney general sessions tried to do away with. now the judge is saying they are a protected class and it's unlawful for the executive branch to try and take that away. this is something that needs to be discussed by congress. but as we know, congress has repeatedly shied away on immigration recently and it's been falling to the executive branch again and again, and they get blocked again and again. >> what's the power of this judge doing this? yesterday we discussed sullivan saying he can send michael flynn to jail and we came to the conclusion, he can despite the deal between the prosecutors and defense. in this particular case, what power does emmitt sullivan's rule having? >> you know, we're seeing --
we're learning another day in the trump administration how much power our judicial branch does, in fact, have. in this ruling, he can block this executive action from going into effect. it, of course, can be challenged. he's at the district court level so it could be challenged again. he has a lot of power. he even made a claim in the s-- plane turn around because they determined they should not have been deported because they were victims and should be able to claim asylum. >> i'll be right back after this quick break. you're watching msnbc. business loans for eligible card members up to fifty thousand dollars, decided in as little as 60 seconds. the powerful backing of american express. don't do business without it.
we look at what the markets are doing just before the closing bell. one minute before the end of trading and markets are once again down. you can see it was in the green quite so until 2:00 p.m. when the federal reserve raised rates, as expected, by 25 basis points. that's a quarter percentage point. dipped into the red for a second and came back up and then went back down because the fed said the economy has cross currents which normal people would say is deteriorating, weakening a little bit. we're closing on a down note, way off its highs for the year in a correction market. i'll see you right back here tomorrow at 1:00 and at 3:00. thank you for watching. "deadline white house" with nicolle wallace starts right now. hi, everyone. it's 4:00 in new york.
donald trump today defying the advice of his top military advisers and ordering a complete withdrawal of u.s. troops from syria creating a power vacuum likely to be filled by russia, in a part of the world decidedly zero-sum. it will cheer isis, moscow and iran. it's a fact not lost on the pentagon which lobbied the president as late as wednesday not to take today's action. in a series of meetings and conference calls, defense secretary jim mattis and other senior national security officials have tried to dissuade mr. trump from a wholesale troop withdrawal arguing the significant national security policy shift would essentially cede foreign influence in syria to russia and iran at a time when american policy calls for challenging both countries. the times