confronting the federal reserve. but in my role, i also spent a substantial amount of time talking to members of our community about how monetary policy affected their lives and their businesses. that public input affected how i thought about policy and its consequences. i also learned how valuable it was to communicate clearly to the public what our policies were and why we were pursuing them. in addition to my experience as a federal reserve official, i was an academic for 25 years and i did a substantial amount of research on monetary theory, monetary policy, and central bank design. i have written extensively on the importance of central bank independence for the conduct of monetary policy. my research also focused on how the central bank can be made accountable to the electorate without giving up its independence. in particular, i studied the importance of the nomination and confirmation process in achieving central bank accountability. the federal reserve has been given tremendous responsibility by congress to

confronting the federal reserve. but in my role, i also spent a substantial amount of time talking to members of our community about how monetary policy affected their lives and their businesses. that public input affected how i thought about policy and its consequences. i also learned how valuable it was to communicate clearly to the public what our policies were and why we were pursuing them. noosh my experience as a federal reserve official, i was an academic for 25 years and i did a substantial amount of research on monetary theory, monetary policy, and central bank design. i have written extensively on the importance of central bank independence for the conduct of monetary policy. my research also focus thed on the -- how the central bank can be made accountable to the electorate without giving up its independence. in particular, i studied the importance of the nomination and confirmation process in a a-- in achieving central bank accountability. the federal reserve has been given tremendous responsibility by co

confronting the federal reserve. but in my role i also stand a substantial amount of time talking to members of the community about how monetary policy affected their lives and businesses. that public input affected what i thought about policy and conflicts. i also learned how valuable it was to communicate clearly to the public what our policies were and why we were pursuing them. in addition to my experiences federal reserve official, i was an academic for over 25 years and did a substantial researcher monetary theory, monetary policy, and central big design. i have written extensively on the importance of central-bank independence for the conduct of monetary policy, my research also focused on the central-bank can be made accountable to the electorate without giving up the independence. in particular i study the importance of the nomination and confirmation process in achieving central-bank accountability. the federal reserve has been given tremendous risk possibility by congress to use this policy to improve the

the federal reserve was his baby. and created with certain things in mind, largely to get money to local communities and local merchants and bankers and tnot to be used to go to wall street. i don't think speculation bothered him as much as the system was being used for purposes he did not intended. >> even though it creates a new governmental agency, it is really giving a lot of responsibility over the financial system to the financial players themselves. it places a lot of faith in the new york stock exchange, the self-regulating entity, puts a lot of faith in brokers to fulfill the information disclosure. whereas, you had the other models from the states in the early 20th century that were more paternalistic, what kind of securities get offered. i'm curious where glass fell on that idea. mr. fink: i think, i never look into it, but my recollection is they weren't thinking about that. the new york stock exchange, number one, did not want anybody. if you asked allen dulles and george witness in 1933, do you want an a

can a federal jobs guarantee succeed where the federal reserve has failed? yes or no? chairman powell: that's a hard one to answer. ms. pressley: guaranteeing a job. the history that i was providing. anyone who wants to work and is able to work -- ok. so chairman powell, by all indications, the u.s. economy has had ought output well below potential for eight of the past 10 years and for most of the decade prior. is it true that most of that period has seen unemployment well above target? while we almost never see inflation above target? chairman powell: that is true. ms. pressley: ok. so meanwhile, black unemployment remains double that of white unemployment. the fed began raising rates in 2016, even though inflation was still below target and when rates go up, unemployment tends to as well. do the fed consider how raising rates would disproportionately impact those who are already struggling to secure employment? like communities of color, individuals who were farmerly incarcerated, our immigrant -- formerly incarcerated, our immigrant neighbors? chairman powell: unem

federal reserve. i appreciate the federal pursuing role in ensure a safe and stable financial system. if confirmed i'll continue to policies that achieve our dual-mandate and maintain financial stability. my background and experience makes me uniquely ualified to fulfill the responsibilities of a federal reserve governor. experience as ng a senior reserve bank official i was deeply involved in policy issues confronting the federal reserve. but in my role i also spent a substantial amount of time to members of our community about how monetary olicy affected their lives and their businesses. that public input affected how i and its bout policy consequences. i also learned how valuable it communicate clearly to the public what our policies pursuing hy we were them. in addition to my experience as official i wasve an academic for over 25 years i did a substantial amount theory rch on monetary and policy. i've written extensively on bank ndependence for the conduct of monetary policy. my research also focu

job guarantees succeed where the federal reserve has upcoming yes or no? >> that's a hard one to answer. guaranteeing the job that is the history that i was providing. >> by all indications the economy has had output well below for eight of the last ten years and most of the decades prior. is it true that most of the period has seen unemployment well above target while we almost never see inflation above target? >> that is true. >> so meanwhile, black unemployment remains double that. the fed began raising rates in 2016 even though inflation was still below target and when the rate goes up, unemployment tends to as well. do they consider how raising the rate would disproportionately impact those that are already struggling to secure employment like communities of color and individuals that were incarcerated? >> i would say it's continued to go down quite significantly as we begin to raise the rate at the end of 2016. >> did they consider how raising rates would disproportionately impact of those who were already struggling to secure employment? >> the righ

yes >> can a federal jobs guarantee where the federal reserve has not? >> that's a hard one to answer. what do you? mean >> guaranteeing a job, the history that i was providing. anyone who wants to work and able to work. so chairman powell by all indications the u.s. economy has had output well below potential for the last ten years and for most of the decade prior, do you believe that most of that period has seen unemployment well above target? where we have almost never seen inflation above target. >> that is true. >> so meanwhile black unemployment remains double that of white unemployment, the fed began raising rates into this in 16 even though inflation was still below target and when rates go up unemployment tends to as well. did the fed consider how raising rates would disproportionately impacted those who are already struggling to secure employment. individuals who are former incarcerated, our immigrant neighbors. >> i would say that unemployment has gone down quite significantly since we began to raise rates at the end of 2016, actually the end

the federal reserve did not join this proposal. member boarded -- voted against the proposal describing it as a deeply misconceived proposal that would fundamentally undermine and we can the community. aken theeea community. and brainard said given the reports, they are likely to set expectations for a few decades, it is more important to get the reforms done right than to do them quickly. that requires giving stakeholders sufficient time and analysis to provide meaningful feedback. chairman powell, governor brainard also suggested in a speech last month that the federal reserve created a evaluations6000 looking at how various cre investments support though and moderate income communities. has the fed used this database to evaluate how bank activities would be ss under the fdic's proposal? powell: if i understood your question, it would be whether we would use our database to evaluate their proposal? maybe i can provide some context of that is appropriate. if i may. which is just that we do a great that this is a good time to chang

the federal reserve was his baby. and created with certain things get money toly to local communities and local merchants and bankers and not to be used to go to wall street. i don't think speculation bothered him as much as the system was being used for purposes he did not intended. >> even though it creates a new governmental agency, it is really giving a lot of responsibility over the financial system to the financial players themselves. of faith in the new york stock exchange, the self-regulating entity, puts a lot of faith and brokers to fulfill the information disclosure. whereas, you had the other models from the states in the early 20th century that were more paternalistic, what kind of securities got offered. i'm curious where glass fell on that idea. never look think, i into it but my recollection is they weren't thinking about that. the new york stock exchange, number one, did not want anybody. if you asked allen dulles and george witness in 1933, do you want an act to regulate securities? no. do you want a

the federal reserve did not join in this proposal. fdic's board member mark rutenberg voted against the "aposal, describing it as deeply misconceived proposal that would fundamentally undermine and weaken the act."ity reinvestment in her berks last month, federal reserve board governor brainard said, "given that reforms to the regulations are likely to set expectations for a few decades, it is more important to get the reforms done right then to do them quickly. that requires having external stakeholders sufficient time and analysis to provide meaningful we bet -- meaningful feedback on a range of options." suggestedrainard also in a speech last month that the federal reserve created a database of 6000 public cra evaluations, looking at how barriers support low and moderate income communities. has the fed used this database to evaluate how bank activities would be assessed under the occ and the fdic proposal for cra? chair powell:chair powell: if i if istood -- chair powell: understood your question, it is whether or not we have used

tlaib: the federal reserve retains the ability to open federal lending abilities? is that accurate? in stabilizing the economy? chair powell: two financial institutions, we do good rep. tlaib: when the fed stepped into rescue banks, is that because you believe their role in the economy is vital? we had no choice. it was to prevent the financial system from collapsing. city filingfor my bankruptcy was devastating for so many retirees. they worked for the city of detroit and saw their pensions completely diminish, gone. do you not believe the government of detroit and puerto rico also play a vital role that , even if preserved financial crisis makes it hard for them to borrow money? chair powell: i believe that is not the job for the fed. the fed has a particular role and particular authorities. lending to state and local governments and supporting them when they are in bankruptcy. rep. tlaib: we will strongly disagree. i believe you have the authority. chair powell: you mentioned that in the case of another financial crisis you would use the same tools of expanding the balance sheet

could a federal jobs guarantee succeed where the federal reserve has not, yes or no? >> that's a hard one to answer. you mean -- >> guaranteeing a job. the history that i was providing. that anyone who wants to work and is able to work -- okay. so chairman powell, by all indications the u.s. economy has had output well below potential for eight of the past ten years and for most of the decade prior. is it true that most of that period has seen unemployment well above target while we almost never see inflation above target? >> that is true. >> okay. so meanwhile, black unemployment remains double that of white unemployment. the fed began raising rates in 2016 even though inflation was still below target. and when rates go up, unemployment tends to as well. did the fed consider how raising rates would disproportionately impact those who are already struggling to secure employment like communities of color, individuals who were formerly incarcerated or immigrant neighbors? >> i would say that unemployment has continued to go down quite significantly since we began to rai

the federal reserve, listening to some of the individuals like the folks here today. they have some really good ideas, and so my second question is could you tell me if you would entertain having your folks look into looking at wage as a measure because oftentimes, when you look at -- many folks don't work a full-time job, but they have a wage so could we be a little more creative in looking at the data based on what some of the things that i'm hearing from the group that came in and i'm sure they've met with your folks and you know some of their issues i'll start with can it be localized, can we entertain looking at some of the things that they think we should look at when we calculate or present all the good news that is not the good news for many of the individuals sitting here or in my district. >> i think you're probably making some of our data people very happy back at the board of governors. >> okay. >> you know, they love to cut the data different way, and we do learn every time we do that, we learn things. i don't actually know the precise answer to your ques

thanks for the good work you and so many of your colleagues are doing at the federal reserve just to address comments that came from my colleague recently, is it unprecedented for the chairman of the federal reserve to attend a party or reception >> no. >> i mean, it is certainly not the first time that a fed chair has attended a party i am certain it is not the first time a member of congress attended a reception or party. i don't know that we want the say hey just because you were at an event somehow this is nefarious. heck, you might have actually talked to a russian on a subway or something you know, the way that these things are linked for political motives is embarrassingly partisan and bad, and i just thank you for resisting all of those pressures. many of them are public, of course but one that i am concerned about right now is the repo market back home a lot of people don't know there is such a thing as reapo. it is a big factor for our economy. i think some of the warning signs in it have given rise to the fed in kind of a blend between regulatory action and monetary policy

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federal reserve powell presented his monetary policy report to congress this on a day when stocks were hissing new highs despite fears of the coronavirus i asked our financial correspondent yes caught on wall street whether the fed was even paying attention to the outbreak. yeah there do think about the coronavirus and their absolving the very closely and i guess that is probably the main reason why the markets are still so upbeat because the federal reserve basically is hinting if the situation gets worse if it takes longer before the coronavirus is being dealt with the federal reserve actually could cut interest rates in other time and it's not just the federal reserve but also the people's bank of china reacting so it's all this cheap money flooding the markets that is keeping the rally on wall street to life and scott on wall street's thanks so much and it seems no event is a new to the effects of the outbreak the singapore air show is the biggest gathering of its kind in asia its last edition 2 years ago attracted more than assizes companies this year though the numbers are down.

at the next meeting of the federal reserve those bedstand at 100 percent and a good 90 percent of market participants even believe that the federal reserve could cut rates by 50 basis points of bank of america saying that it's also possible that we could see an extraordinary meeting so that the fed might even cut rates before so let's wait and see a lot also depends if the markets will calm down in the next couple of days. been watching these these markets all week give me an idea what kind of week has this been for global markets. it's been a crazy week we were down by the was that all jones industrial average this week alone by a good 12 percent so this speech that we saw was those losses that is highly unusual and as we've heard it's been the worst week since the financial crisis what traders are fearing is that market participants might be driven by their stomach and not by their brains so that actually emotions my head to take over and investors might start doing silly stuff what we also saw all week long is that we had automated computer programs also influencing the market so it h

robert kaplan is a ceo and president of the dallas federal reserve. don't go anywhere, more wall street right after this. uhh, excuse me, is there a problem here? you're in a no parking zone. oh, i... i didn't know. you didn't see the sign? that... that wasn't there when i was here earlier. (whimper) really? you know, in italy, they let you park anywhere. have a good day, sir. with geico, the savings keep on going. just like this sequel. 15 minutes could save you 15% or more on car insurance. (glass shattering) (frustrated yell) (car horn blast) (yelp) maria: welcome back join us next week with white house traded kaiser is my special guest on china and the markets today. plessy on sunday morning on the fox news channel this weekend february futures with former senior white house advisor steve bannon, florida senator marco rubio and kim scott along with devin nunes. my special guest this weekend live 10:00 a.m. eastern on fox news. but start smart every weekday write on foxbusiness join me for mornings with maria 69 eastern monday through friday. right

at the next meeting of the federal reserve those bedstand at 100 percent and a good 90 percent of market participants even believe that the federal reserve could cut rates by 50 basis points of bank of america saying that it's also possible that we could see an extraordinary meeting so that the fed might even cut rates before so let's wait and see a lot also depends if the markets will calm down in the next couple of days. been watching these these markets all week give me an idea what kind of week has this been for global markets. it's been a crazy week we were down by there was that all jones industrial average this week alone by a good 12 percent so this speeds that we saw with those losses that is highly unusual industry for it it's been the worst week since the financial crisis what traders are fearing is that market participants might be driven by their stomach and not by their brains so that actually emotions might take over and investors might start doing silly stuff what we also saw all week long is that we had automated to the computer programs also influencing the market so it

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at the next meeting of the federal reserve those bedstand at 100 percent and a good 90 percent of market participants even believe that the federal reserve could cut rates by 50 basis points of bank of america saying that it's also possible that we could see an extraordinary meeting so that the fed might even cut rates before so let's wait and see a lot all to be depends if the markets will calm down in the next couple of days. you know i've been watching these these markets all week give me an idea what kind of week has this been for global markets. it's been a crazy week we were down by was that all jones industrial average this week alone by a good 12 percent so this speed that we saw was those losses that is highly unusual and this year for it it's been the worst week since the financial crisis what traders are fearing is that market participants might be driven by their starmaker not by their brains so that actually emotions might take over and investors might start doing silly stuff what we also saw all week long is that we had automated to a computer programs also influencing the

federal reserve powell presented his monetary policy report to congress this on a day when stocks were hissing new highs despite fears of the coronavirus i asked our financial correspondent yes caught on wall street whether the fed was even paying attention to the it frank. yeah there do think about the coronavirus and their absolving the very closely and i guess that is probably the main reason why the markets are still so upbeat because the federal reserve basically is hinting if the situation gets worse if it takes longer before the coronavirus is being dealt with the federal reserve actually could cut interest rates in other time and it's not just the federal reserve but also the people's bank of china reacting so it's all this cheap money flooding the markets that is keeping the rally on wall street or life and scott on wall street so much. and it seems no event is a new to the effects of the outbreak the singapore air show is the biggest gathering of its kind in asia its last edition 2 years ago attracted more than assizes companies this year though the numbers are down. flying i

efforts totant here ensure the independence of the federal reserve. without the independent federal reserve, our national policymaking is really floored. keep up your efforts. have expandedwe the economy for 11 years, that would be eight years under president obama and three years under president trump. the expansion is good. there are still issues we should address. a few report in january, they indicated the sheer wealth held by middle income families has been falling for roughly 20 years. commentlike you to whether it continues to fall, despite the expanding economy? in addition, they point out income inequality in the u.s. has increased since 1980. is it still increasing? and it is greater than the other countries that are similar to us in many aspects. economy, a expanding shrinkage of wealth in the middle class and income inequality, social, political, and economic trends i don't think are sustainable. are those trends continuing? what policy can we adopt to change them? trendse are longer-term that i think are driven by important underlying fac

i obviously support legislation that would have an audit at the federal reserve. that is necessary and needed. here is what is important. we don't need a federal reserve that is more interested in creating policies that enriches the financial sector than an overall stable policy so we can have strong economic growth and sound money. miss shelton talked about sound money her entire career. they try to pigeon hole her as a kook about the gold standard. the gold standard is a reasonable debate to consider. putting that aside should we want sound money and stability rather than waiting for the bated breath what the federal reserve chairman or the committee decide what interest rates will be and go through the yo-yo of our economic conditions? i think it would be wise for us to have somebody like miss shelton at the federal reserve questioning orthodoxy there especially we're dealing with $23.2 billion in debt. charles: i started picking up the biography on bagett he wrote a famous book on central banks years ago and he is well-regarded. it seems to me, you brought thi

being dealt with the federal reserve actually could cut interest rates in other time and it's not just the federal reserve but also the people's bank of china reacting so it's all just cheap money flooding the markets that is keeping the rally on wall street delight and scott on wall street thanks so much t.-mo bile is one step closer to taking over u.s. mobile network sprint after a judge ruled that the $26000000000.00 deal does not fall foul of competition laws opponents of the deal say prices will rise since the sprint purchase would bring the number of u.s. mobile networks down from for it to just 3 t. mobile says the agreement is likely to be signed as early as april. to iran where hundreds of thousands of people have been marking the anniversary of the 1979 islamic revolution the uprising led to the toppling of the country's monarchy and the establishment of a c. across a police state but 4 decades on the country is dominated by ever soaring tensions but the united states and then the economy that's been crippled by sanctions. it could be a birthday serenade the street musician i

we look atc that, too. >> of course i wouldn't expect that from the federal reserve. get that from hhs and cdc and other agencies like that. our chinese economic or central bank officials in contact with the federal reserve or the other counterparts around the world to try to help you and your counterparts understand the economic impact though,ar recognizing the dishonesty and lack of transparency that health officials and political leaders? >> i'm absolute sure that will be the case. there's been some conversation but it's toooo early to say. i think no one really knows. i think the big focus is containing the outbreak. of course the central bank and the government itself, the rest of the government have been undertaking lots of measures to support economic activity. certainly as they know more, we will know that, too. we of course have that kind of relationship with their central bank. >> i want to commend the trump administration were taking decisive action a couple weeks ago to stop> travel from china, the other steps in terms of try to get testing kits out to the

what would it take for fed chair and federal reserve to cut rates here i think highlighted important part of the statement when it comes to monetary policy he said it's appropriate in the first instance and said, hey, we're monitoring it. whether or not there's a material reassessment of the outlook, the federal reserve is not there yet. what does it all amount to it amounts to the idea if the fed is going to move -- there's the comment, "the current stance of monetary policy will likely remain appropriate." that's the outlook of the fed chairman, if that were to change, what it would take to change the material assessment of the outlook, we would respond accordingly. the outlook here we've already talked about gdp is set to come down in the first quarter. at the moment the fed is likely to look through that what the market is betting on, take a look at the probabilities, carl. a 57, 55% chance of a rate cut in july, 69 in september that's far enough out that everybody can adjust if that doesn't look like it's going to be the case. but at the moment if you're going to take a bet, the

vonnie: we are joined by bloomberg federal reserve reporter matt poser. what does a governor at the federal reserve do, and what are the qualifications? reporter: whereas the fed presidents rotate in and out of the committee every two years, the fed governors always have a vote, and also take on a lot of important responsibilities at the central bank at the national level, things like supervision and regulation, big picture design of the financial system types of things, as opposed to running a big regional bank. that is the big diff in her -- that is the big difference between the governors and the president. guy: is she going to make it? i am hearing more and more comments that her nomination is going to be pulled. matt: it was kind of surprising to see how poorly the hearing went for her. ran into some she opposition from republican senators, as we showed in that clip. now it is looking a lot less likely. there was a story yesterday reported by the hill that, according to republican sources on the senate side, they expect at the white house to pull her

it is important here efforts to ensure the independence of the federal reserve. without the independent federal reserve, our national policymaking is really floored. keep up your efforts. you mentioned we have expanded the economy for 11 years, that would be eight years under president obama and three years under president trump. the expansion is good. there are still issues we should address. a few report in january, they indicated the sheer wealth held by middle income families has been falling for roughly 20 years. i would like you to comment whether it continues to fall, despite the expanding economy? in addition, they point out income inequality in the u.s. has increased since 1980. is it still increasing? and it is greater than the other countries that are similar to us in many aspects. despite the expanding economy, a shrinkage of wealth in the middle class and income inequality, social, political, and economic trends i don't think are sustainable. are those trends continuing? what policy can we adopt to change them? >> those are longer-term trends that i

the federal reserve develop climate related tests? if we are monitoring what the bank of england is doing. those stress tests are not like ours in the sense of they would have an indirect effect on things like that. they are trying to make an assessment. decision onmade a things like that. >> climate change into the economic forecast will become more important. disasters like hurricane maria in puerto rico, currently labeled transitory risks by the federal reserve. we know events will become more frequent and severe. increasey result is an in economic losses and physical risk, the brunt of which to be felt by community -- communities of color. when the fed develops its economic forecast, when should climate change shift from being a transitory factor to a structural factor? forecast -- people like me write-down in the forecast, they are not for the much longer term. what is important is the next two or three years. on ate change operates longer cycle in that. of course, as severe weather becomes more common, and that is connected to c

mayor and former dnc chair and federal reserve chairman my special guests in the week ahead. on mornings with maria have a great west of the weekend everybody thanks for joining us have a happy presidents' day on monday. see you next time. gerry: hello and welcome to the wall street journal at large for about much of the news coverage since it was on the first the nation presidential primary new hampshire changing dynamic in the democratic party race. the other headlines on the continuing worries of the coronavirus. a disease that was first discovered her broken china late last year's taken more than a thousand lives in that country. including at least half a dozen healthcare workers. it has infected tens of thousands around the world. the head of the world health organization is called the

reserve were there that could be could calm down the markets a bit at this point but overall you just still watch how the crisis develops still obviously a very fluid situation thank you yes carter there on wall street for us. and speaking of fallout from the coronavirus germany's flag carrier lost tons of says it is suspending all flights to and from mainland china for longer than initially announced the list tons a group which includes subsidiaries swiss and austrian airlines will not fly to beijing and shanghai until february 29 and other chinese destinations including nanjing shenyang and qingdao in eastern china will not be served at least until the end of march europe's largest airline group said it made the decision because it wants to keep its passengers and staff safe. alphabet the parent company of google has posted mixed results for the last quarter of 2019 the tech giants profit rose 19 percent from a year earlier but ad revenue the all important income driver failed to meet expectations google is the market leader for digital advertising but it's facing increasing competi

reserve might be willing to cause interest rates. other than in other countries the u.s. has some interest rates that theoretically could get lowered if that's going to happen certainly nobody knows for sure but the bets here on wall street that the federal reserve will actually act in the next couple of months are above 50 percent about 60 percent of market actually even believe that we could see more interest rate cuts by the end of the year so the hope lies on the fed and the 1st big test will be on tuesday where we would see of the market can recover if they see the downturn as a buying opportunity or if pressure increases. quarter with the latest from the markets in new york thank you. now as mentioned south korea is one of those krone virus hotspots infections are growing around a large cluster of cases more than $800.00 people have now caught the disease the most in any country outside of china business and local economies are already feeling the pain. the queue goes as far as the eye can see south koreans have been waiting pa

reserve might be willing to cause interest rates . other than in other countries the u.s. has some interest rates that theoretically it could get a lot of that's going to happen certainly nobody knows for sure but the bets here on wall street that the federal reserve will actually act in the next couple of months are above 50 percent about 60 percent of the market actually even believe that we could see more interest rate cuts by the end of the year so the hope lies on the fed and the 1st big test will be on tuesday where we'll see of the market can recover if they see the downturn as a buying opportunity or if pressure increases are a quarter with the latest from the markets in new york thank you. well as mentioned south korea has become one of those worrying coronavirus hotspots infections are growing around in a large cluster of cases more than 800 people there have now caught the disease the most in any country outside of china businesses and local economies are already feeling the pain. the queue goes as far as the eye can see so

i am pleased to present the federal reserve's semiannual monetary policy report. my colleagues and i strongly support the goals of maximum employment. congress has given us an important degree of independence to pursue the goals. this independence brings with it an obligation to explain clearly how we pursue our goals. today i will review the current economic situation before turning to monetary policy. it's well into the 11th here and it is the longest on record. economic activity increased at a moderate pace. on as the economy appeared resilient to the headwinds that it have i intensified last summer. inflation has been low and stable but it has continued to run. they averaged 200,000 per month in the second half of last year. an additional 225,000 jobs were added in january. it has remained above what is needed. allowing the unemployment rate to move down even further. it has been near half-century lowsws for more than a year. job openings remain plentiful. they are willing to hire workers entering them. people who live and work and low and middle income commun

mayor and former dnc chair and federal reserve chairman my special guests in the week ahead. on mornings with maria have a great west of the weekend everybody thanks for joining us have a happy presidents' day on monday. see you next time. >> the president of the united states from the day he took office more than two years ago has prevailed in every attack against him even as those attacks, nearly all of them orchestrated by the radical dems and the deep state grew ever

reserve chairman will say coronavirus watching this very closely, according to federal reserve chairman, and concerned that it will cause disruptions in china would 123i8 over to global economy the second half of powell's speech will focus on productivity, he says that should be a national gauge for how 2 economic expansion is going, and should be a national priority to get labor force participation rate up as well as productivity up, also telling, lawmakers that to get there, sustainable budget northeast to be on the horizon federal reserve chairman says federal funds rate so is low close to zero lower bound there maybe fiscal policy needed in have case of a severe downturn. he does note see downturn coming but federal budget needs sustainable path to get there one last tinying thing in report not in speech in in report going to say that fine print, the prifk of recession in next 12 minutes, has diminished noticeably accordinging to federal reserve he does not see a recession, within next 12 months back to you. maria: edward thank you so much we got embargo first from edward lawrence w

the democratics are trying to get him to say there's more that the federal reserve can do to help out low income and help out poverty. for example, there was a question about whether or not the federal reserve could lend to the bond market whether they could use more of its tools to address the low income americans i don't think powell is in any worse position than others have. there was one thing about a party he attended. there was a picture shown about him going to a private party at jeff bezos' house where jared kushner and ivanka were at that party and there was a question about that powell responded he had not talked to any of these people >> that was like the beginning of a joke. bezos, kushner and powell go to a party. >> go to a party >> but i don't know what it goes >> i don't remember, somebody asked me this earlier. i don't remember the federal reserve's mike being under some scrutiny, but with the president commenting so much about the federal reserve during his testimony, before, criticize in the chairman that he appointed, it is certainly more fraught right now u and th

reserve were doing that could be could calm down the markets a bit at this point but overall we just still watch how the crisis develops still obviously a very fluid situation thank you yes carter there on wall street for us. and speaking of fallout from the coronavirus germany's flag carrier lost tons of says it is suspending all flights to and from mainland china for longer than initially announced tons a group which includes subsidiaries swiss and austrian airlines will not fly to beijing and shanghai until february 29th and other chinese destinations including nanjing shenyang and qingdao in eastern china will not be served at least until the end of march europe's largest airline group said it made the decision because it wants to keep its passengers and staff safe. alphabet the parent company of google has posted mixed results for the last quarter of 2019 the tech giant's profit rose a 19 percent from a year earlier but ad revenue the all important income driver failed to meet expectations google is the market leader for digital advertising but it's facing increasing competition

you have unique opinions on the debt and federal reserve. how do you feel about judy shelton? >> i haven't met her yet but my concern is the size of the federal reserve balance sheet is, why are they buying so many government back bonds. $4 trillion. i sent a letter to chairman powell to get a response. that is what i will ask shelton about. charles: shelton in the past made comment about the gold standard, things like that. also a lot a lot of fellow senators across the aisle concerned about the independence of the federal reserve. where do you stand on that because yesterday senator kennedy he made it clear he thinks the federal reserve should be independent? >> i believe they ought to be independent but my concern is that where does this end? how much of the, i think they own a little less than 20% of our treasurys and a little less than 30% of all government backed bonds. where does it end? is 30ers the right number? is 50% the right number? >> i'm concerned about the size of the balance sheet. i will listen to health done about it. charles: we're all concerned. that is al

cotton: of course, i wouldn't expect that from the federal reserve. are chinese economic or central bank officials in contact with the federal reserve or other counterparts around the world to try to help you and your counterparts understand that economic impact, recognizing the dishonesty and lack of transparency that health officials and political leaders? chair powell: i'm absolutely sure that will be the case. there have been some conversations, but i think it is too early to say. no one really knows. the big focus is containing the outbreak. andourse, the central bank the government itself have been undertaken lots of measures to support economic activity. i think, as certainly as they know more, we will know that, too. we have that kind of relationship with their central bank. sen. cotton: ok. i want to commend the trump administration for taking decisive action to stop travel from china and the other steps they have done in terms of trying to get testing kits out to the front lines. right now, i think we only have 13 confirmed cases in the unit

reserve, more importantly, positivity. people are positive. bernie sanders, the rhetoric of negativity, donald trump speaks rhetoric of positivity. the country comes together and support what is going on with donald trump you would see the economic success that goes beyond was we have seen so far. todd: $16.3 trillion, green new deal, $32 trillion come medicare for all, $1.64 trillion, student loan debt, if bernie is the nominee on november 3rd when americans go to the polls are they going to vote for free or are they going to vote for the four - jillian: going off of that if you think it depends how old you are because a lot of young people here free and they like that. what are the hearing from the democrats? >> the unemployment numbers help the younger generation and the entire country. what you have is a situation with someone discounting bernie sanders, where is he going to get the money? print more money? the idea people can print money is a problem. people believe where the country is right now and you see high in t