does that -- in march, guidance that two cuts pencilled in for this year. does that now, that guidance from the last press conference,s that that been overtaken by events at this point? >> you know, we don't do a summary of economic projections in every meeting. it's every other meeting and this is the meeting we didn't do it. i, you know, we don't also kind of poll people. i we wan wouldn't want to make a specific projection for that and in six weeks, there's the june meeting and another sep. i'm not hazarding a guess here today as to what it wasn't again, that's the timely developments and depending on how things play out, that could include rate cuts, you know,

could include us holding where we r. we are going to need to see how things play out before we make those decisions. taylor: i'm taylor riggs in for liz claman. holding for the third straight meeting and ned chair jerome powell taking questions from the media. i want to go right back to that news conference. >>-- how do you handle those challenges? >> you just captured, this is the issue with the two goals being here and it's a very challenging question. there can be a case in which one goal is very far, one variable is far from it is goal, much further than the over and if so, you concentrate on that one. frankly that was the case -- well, it wasn't the case for intention and back to 202t it was clear we needed to focus on inflation.

the labor market was super tight and wasn't really a tradeoff. you know, if -- i think you know what our frame work document says, it says we're looking at how far each variable is from the goal and tactorring in the time it -- factoring in the time it takes to get there. that's going be potentially a very difficult judgment. but the data could break in a way it's not. you know, i just don't think we know that . the data could favor one or the other and right now, there's no need to make a choice and no real basis for doing so. >> hi. victoria with "politico". i want to ask, congress is debating spending cuts alongside tax cuts and you talked about the path of debt is unsustainable and given we're talking right now about the economy slowing and potentially even recession, i was just wondering if there's a danger

that spending cuts now could slow growth a lot more? >> you know, we don't give congress fiscal advice. we take what they do as a given and put it in our models and our assessment of the economy. so i wouldn't want to speculate on that . -- debt is on us sustainable path and it's on congress to figure out how to get us back on a suspended ands notable path and not us -- sustainable path and not up to us for advice. >> should they take macroeconomic conditions into account looking at this? >> i don't think they need my advice or their advice for fiscal policy anymore than we need theirs on monetary policy. [ laughter ] >> thanks mr. chairman. andrew cassioppier cassioppiermn

with -- ackerman with the washington post. the unemployment rate was 4.2%, which what it is now and forecasters now predict a higher jobless rate and how has your tolerance for weakening labor market conditions changed compared to a year ago? >> it's quite a different situation. what was happening last year was over the space of six, eight, silicon valley bank months -- seven months, unemployment rate went up by almost a full percentage point and click, click, click, click, click and everywhere people talking about downside residenting to the labor market and at the same time payroll job numbers getting softer and softer and really obvious concern about downside risk to the labor market and at jackson hole and in september, we wanted to address that fourth forthrightly and we'd been there for inflation for a couple of years and showing also that

we're there for the labor market and sending that signal. the market and unemployment rate moving sideways at a level that's well in the range of mainstream estimates of maximum employment. that concern has got an lot less. you're at 4.2% unemployment. we were in a very different situation and now there's a situation where the risks to higher inflation and higher unemployment have both gone up noted in our statement and got to monitor both. we have a potential situation with a tradeoff or attention between the two, potentially, don't have it yet and may not have t but that's what we have and that's why i think it's a very different situation. >> i guess i want to follow up by asking how much of a rise in jobless rate you could tolerate? >> i can't give you a, you know, not going to try and give you a specific number. i'll say we have to look at both variables and which of them is

commanding focus more than other and telling us what to do with policies and i'm not going to try and be specific of what we need to see in terms of numbers. look, if we did see significant deterioration in the labor market, of course that's one of our two variables and we would look to be able to support that and hope not coming at a time with inflation being very bad and specu speculating and we dot know these and know these things and very hypothetical and waiting and seeing how it plays out. >> thanks. >> "financial times".

in terms of getting clarify, we have talks that we can in geneva between the u.s. and china, a lot of economists are talking a -- attaching an awful lot of importance from what we hear from the talks. how much importance are you attaching in terms of judging what will happen to the u.s. economy going forward and just in a similar vain, some economists are saying it's days not weeks but we have till we start putting the u.s. economy at risk of seeing the sort of pandemic era shortages and higher prices if we don't soothe the relations between u.s. and china. good to have your view on that too. >> these are not talks i was involved in and i can't comment directly on them. what i will say is we had coming out of the march meeting, we -- the public generally had an assessment of where tariffs were going april 2 happened and it was really substantially larger

than anticipated in the forecast i saw and in our forecast. so seems we're in a new phase and administration is entering in beginning talks with a number of important trading partners and that's got potential to change the picture materially or not and it's important how that shakes out and we have to wait and see how it works out. could change the picture and mindful oturu not trying to make conclusive judgments about what will happen at a time when the facts are changing. >> just on the tensions with china and do you share that concern that we could start seeing good shortages and higher prprices in the coming week ifs it's not resolved very quickly? >> i don't want to getny my gush we shouldn't be involved even

verbally in gens about the timing of things. yes, we foal low all the data and see the -- follow all the data and see the shipping data and ultimately this is for the administration to do. this is their mandate and not ours. i know as you can association they're beginning to have talks with many nations and that has potential to change the picture materially so we'll have to wait and see. >> [inaudible] the volume of imported goods and country in the first quarter, do you think this decision could cause a delay in the impact of tariff on inflation and does this mean that it will take longer time to reduce uncertainty? >> the decision we made today?

which decision? >> the future decisions. imported goods increasing significant countries and impact of imported inflation may delay so what is the impact to your future decision? >> i think we think that the -- there was a big spike in imports and very big, historically large, really. it conveyed a very negative contribution to u.s. gdp in the first quarter as we all know. that could in the second quarter be reverse sod that we have, you

know, an unusually large contribution to -- unusually positive. that's likely as imports drop sharply. likely restatements of the first quarter and consumer spending higher and inventories were higher and you'll see those data revised up this whole process going into a little bit make it harder to make a clean assessment of u.s. demand. i mentioned product domestic final purchases and not having inventories of government or -- inventories, government, anyways. it's a cleaner read on private demand. that too probably was flattered a bit by strong demand for imports to beat tariffs and that

might overstate. it's a really good reading and 3% pdfp. might overstate and not going to affect our decisions. i'll will say it's a little confusing and probably less confusing to us than it would be to the general public as we try to explain this. and send ago cig dismal a bit confusing and we understand where it's going and not going to change things for us. >> courtney brown from "axios". talking about the indications of potential layoffs and price hikes and economic slow down all being evident in the soft data. i'm curious yo why the fed needo wait for that to translate to hard data to make any type of monetary policy decision, especially if the hard data is not as timely or might be warmed

by tariff for affects. are you worried the false data might be a false warn something >> no, look at labor market, it's sol and i had unemployment is low. the sense of it is we're not sure what the right thing will be and some increasing inflation going to be increasing unemployment and those call for different responses and potentially know and we have the ability to wait and see. seems to be a clear decision on the committee supporting waiting. and so that's why we're waiting. >> just a very quick follow up. there was this sort of vibe session if you will, where the

how are you thinking about the data with the signs and survey data? >> i think going back a number of years, the link between sentiment data and consumer spending was peak weak. not been a strong link at all. l on the other hand, we haven't had a move of this speed and size. it wouldn't be the case that we're looking that the and completely dismissing it. by it's another reason to wait and see. you're right that we had a couple of years during the pandemic where people were saying, you know, just 6789 it's an outsized change insent and i have we're not looking saying we're sure one way or another.

we're not. jowski thanks, chair powell. cnn. you mentioned earlier you're monitoring the shipping data and we have seen in shipping data imports from china into the port of los angeles have plunged. that has raised concerns about potential shortages and what tool does the fed have that prices and expectations not getting out of hand if tariffs cause significant supply chain disruptions? >> i mean, we don't have, you know, the kind of tools that are good at dealing with supply chain problems. don't have that at all. that's a job for the administration and private sector more than anything. you know, what can do with our interest rate tool is we can support or more or less supportive of demand and very inefficient way to try and fix supply chain problems. but, you know, we don't see the

inflation yet. we're of course reading the same stories and watching the same data as everybody else. and seeing inflation at fairly low level. >> if i could follow up on that president trump indicated he'll name a replacement for you when your term as chair expires next year, but your position on the board runs through january 2028, i believe. would you consider remaining on the fed board even if you're no learn chair? >> i don't have anything for you on that. my whole focus is on -- and my colleagues' focus is all on trying to navigate this tricky pass s san juaquin rear in right -- passage we're in right now and make the right decisions and we want to make the best decisions for people we serve. we think about that day and night and it's a challenging situation and that's 100% of our focus. >> that you can't, chair powell.

jennifer with "yahoo finance". your schedules show no meetings with president trump. past presidents obama, bush and clinton all med with fed chairs and you met with tram during his first term. why haven't you asked for a meeting yet with the president? >> i've never asked for a meeting with any president and i never will. i wouldn't do that. there's never a reason for me to ask for a meeting. it's always been the other way. >> so would you want to meet with him if given the opportunity? >> it's never a initiative that i take. it's always nickertive -- you know, i don't think it's up to fed chair to seek a meeting with the president all though maybe some have done s. i've never done so and i can't imagine myself doing that . i think it always comes the other way and the president wants to meet with you but hasn't happened. >> one question of monetary policy. when it is time to cut rates, how will you determine how far down rate wills have to come to try and keep a balance on the inflation mandate as employment weakens?

>> you know, i think once you have a direction, a clear direction, you can make a judgment about how fast to move and that kind of thing. it's really the harder question is the timing, i think, and when will that become clear. fortunately, our policy and in a good place and economy is in a good place. it's really appropriate for us to be patient and it wait for things to unfold and getting more clarity about what to do. thanks very much. taylor: that was federal reserve chair jerome powell saying the economy is in a solid position and there's a big question mark hanging over his head. fed leaving rates unchanged for the third straight meeting and biggest concern for the federal open market committee continues to be both the risk of higher unemployment and balancing the risk with higher inflation. all as trump trade war creates much of that uncertainty.

i wanted to bring you some other headlines that i, you know, was pouring over and basically the key take away, we're not in a hurry. we're patient. let things evolve as they government the cost of waiting further to make a decision is fairly low. the administration he is saying is just entering into negotiations and let's see how those play out and again, they could be in that position of balancing inflation and weakening unemployment and to me sounds a lot like the scary word stagflation. a few chuckles at the end when he said we don't give congress advice on fiscal policy like we don't need advice on monetary policy. leave it with that. whip through some of the major averages and mostly higher earlier in the daytime this was after news broke that scott bessent meeting with china's top trade representative in switzerland this weekend. now there's a bit of mixed reaction here in the nasdaq turning slightly negative and s&p holding onto a few gains for

the day. we have to do it, benchmark twos and 10 year treasury yields, they slipped after the announcement further highlighting that perhaps maybe this balance of risk is on the hire unemployment side than it is on the inflation side and seeing them trying to figure out where we stand on that . meanwhile we have to dot vicks, that classic wall street fear gauge. that was 24 handle before the meeting and 2405 after the meeting and fear and uncertainty in the equity markets and going for classic save haven it was top 350 in april and we're at 33.77 on gold and close to record highs and also want to take a look at currencies. the dollar was pulling back gutfelled again, looking at mostly dollar strength relative to other major currencies and the other big g10 currencies

around the world. back to big decision, it was a you ewe non-mouse decision by the committee all to keep -- unanimous and the fed not making a rate move since 25 and cut 25 basis points for the third meeting in a row. powell claiming that trade war for thefect print on first quarter gdp. >> gdp reported to have edged down if the first yarder and reflecting -- first quarter and businesses bringing in imports ahead of potential tariffs. going for pdp and 3% rate in the first quarter and same as last year's pace. within pdfp, growth of consumer spending moderated and investment in equipment and

tangibles rebounded from weakness in the fourth quarter. taylor: we know that a lot of that negative print in q1 gdp was result of early imports we're bringing in, which is a negative sign in front of that gdp number. clearly excited to bring our next guest, diane swonk. it's always a pleasure to have you especially on fed day. your take away and thoughts from the fed chair? >> well, he summed it up, wait and see. this is a fed in no hurry and despite what we've seen in confidence in the both business sector and consumer sector and because of fears of stagflation. he wouldn't speculate ahead of time about what kind of increase in unemployment and what kind of increase in inflation would force the fed to move, and

that's important as well because it's a fed that's trying to see how much we can look through or not the increase in inflation due to tariffs and they're a fed he admitted immigrants and was very open about it that, hey, they were late on the up tick on inflation coming out of pandemic and we're still dealing with bad that inflation cooling now. taylor: another point he said where he said the tariffs may cause a delay in our goals for maybe about a year or so. and said this is a situation where we can't be preemptive or act preemptively because we don't know how the day it is going to turn out. i'm assuming it's preemptive cuts and starting to see higher inflation that is more than just a one time price adjustment from a tariff, is there a scenario where you see no cuts or maybe, i don't know, a hike? how do you think about that?

>> i think the threshold for a hike is extremely high? what kind of situation getting us there? tariff increase in prices and something that caused a more secondary sudden bottom inflation and we saw that bond market melt down that we saw after the initial tariff announcement when is the dollar depreciated and that depreciation in the dollar, if it were to continue or accelerate in any way could cause with a lag another bout of inflation down the road. that's something we usually only see again we merging markets or developing economies and not large developed economies and saw something similar to that in the wake of brexit and that's something many people are look at this as a similarity it. taylor: consumers are spending and that spending is shrouded in down beat sentiment. how should we be weighing the

hard data, which looks okay veversus soft data and sentiment and it's deteriorating. >> he made a good point and that's worry some going to consumer confidence within a nano second and it's going to be a bit of a hair from confidence being low enough that it actually we have seen a recession erupt within the next six monarchies with that kind of deterioration and confidence and we're not there yet and looking at they've got a lot of access as do we to on going credit card receipts and he mention there had with a slow down that does not mean we're necessarily see ago contraction yet, and we don't think there's a contraction yet. what we're worried about is one forming in the second half of this year.

taylor: this is a fed chair with a president urge him to cut rates. take a listen to what powell said about that in response. >> doesn't affect us doing our job at all. we're always going to do the same thing, which is we're going to use our tools to foster maximum employment and price stability for the benefit of the american people and we're always going to consider only the economic data, outlook, balance of risks and that's it. that's all we'll consider. >> that's synergy home it's so important to have independent federal reserve and it's important going to watch several charm and met chairman greenspan when young in my career and many presidents not happy with the fed chairman either behind the scenes or more overtly they stay

the course and do what they need and it's important you brought up earlier, listen, he said we don't tell congress what to do with fiscal policy nor should they with monetary poll situate there was a chuckle. that's important because he's staying in his lane. he's staying in his lane and in fact more than fed chairman have and chairman alan greenspan involved with fiscal policy down and get dovish and he's not seeing that as one of his jobs and that's a important place to be right now. and he's been told, many times by congress e you should be doig this and that and that's a important line and working for the american people and that's his job and can't bend political whims otherwise those chairman that have, arthur burns in particular under the nixon administration, that helped stoke the flames of stagflation in the 19 70s. taylor: we appreciate your time and glad to chuckle during the

press meetings. diane swonk, thank you. >> thank you. taylor: fox business alert and checking interest rate sensitive stocks at this hour and first biggie up is financials but definitely benefiting with a stepper yield curve and seeing gains here for the financials and housing stocks higher they continue to come down and finally going for the risks of that economic slow down and higher prices are increasing and powell did not commit to a rate cutting path. >> we'll be watching data and may move quickly or slowly and going to get in a good position where we are to let things evolve. and become clearer in terms of what should be the monetary policy response.

taylor: let's get right to it. our floor show joining me now and pleased to say chief market strategist kenny polcari and non-than. kennedy, did they find thyrofooting after hearing powell? >> the market head what it expected to hear. he didn't lean anymore hawkish or lean anymore dovish. i think he said exactly what we've saying all along. we're not getting a rate cut at all this year unless the hard data starts falling off the edge. it isn't at the moment and he said exactly what i expect there and most investors have -- are suspecting based on all the conversations going wrong so i think the market will find its some stability here and it's the market at the moment going react on what comes out of white house in terms of trade talk. this settles down and if you get a conversation tomorrow and

suddenly it blows up with china and the market sells off and nothing to do with the fed. taylor: jonathan, you heard from the fed chair trying to balance stagflation natural rights approach fears and higher inflation and higher unemployment. if that is the case, tho how do equity markets perform and how do you prepare for that? >> hey, taylor. i agree with kenny and leading in and it's interesting that i don't think the markets will react to any of this economic data till we get more information on tariffs. powell play it had down the middle and didn't lean either way and gave us enough to feel good about our economy and where everything is. but he lay the ground work moving ahead and we'll have turbulence that's there. what's inter interesting and mit lead us to some insight down the road is he's saying that these women asking the q&a about tar riffs and implication on the economy, that's more of a

sentiment and not see in the data. to me leads to if we start seeing that the day taxer the fed might be forcessed into making a decision and everything has been kicked down the road and hoping for more information coming out about tariffs and if we don't get that information as kenny said, this might get all the way kicked down the road to next year. how are you going around a monetary policy. >> take the view and look through the short term what's going on and you have to continue to create a well balanced diversified meal to weather the storm. might want to be more of a consumer staple going about intensive going for them on the names and defensive and might not want to add to your finding

opportunities in other places and i'm not necessarily if i was someone that needed my money tomorrow or next week, i'd be more nervous how it's invested and invested for five years plus, taxpayers blip on the screen making way through. >> we'll have mortgage numbers and been in the inflated mortgage rate environment i think home buyers are becoming more comfortable with the fact of where we have and the fact that the pendulum not going to swing back so fast. i think we'll start seeing more activity there as we come through that. taylor: jonathan, i had a bed and i wanted a gold coin and it

was 2,000 an ounce and nay make me wait on that bed because they're in the black and gold it back up to 3400. so gold is certainly been on a templet kenny, talk to me about individual stocks and it's clean energy and nuclear and all about ai. >> great extent the ai demands are mass and i have dominion, cey, and smr are three na namesn the clean energy space and providing energy and getting into the small nuclear reactor space and providing this data driven and ai driven and for the long term, sm sean: down and ceg is up today, i believe. wait for the day. >> we're in it for the long haul and getting through this tariff fiasco that we're going through.

take ago step dough and longer terms in the market and the market will continue to trend on a higher basis and getting more out of washington. taylor: the washington powell and washington trump and thank you, both, appreciate it. stay well. >> thank you. >> bye. taylor: while the fed chair remains uncertain about how the trump trade war will affect the economy, we had a bit of clarity on tariffs from the president earlier this afternoon. and president trump paresis pating for a searing in for new -- swearing in for the new ambassador to china. the president's answer was short, no. so much uncertainty on tariffs reigniting inflation, i'm excited to say we get to go to edward lawrence at fraud federal reserve in .a you have a break

down how both trump and powell's comments are seen impact the fed going forward. >> yeah, and trump's pressure of jay powell cutting rates and the flag reserve saying there's no difference in their decision and fed looks at data and see cpi inflation and month over month was down and labor market was down and that was sol and i had nor floor show was stating out and not seeing effectives of tariff and exhibition data. i press the president, look at this. >> given this, should the federal reserve be cut rates at all this year? >> it's going to depend and take a step back and realize this is why we are where we are. we're going to need to see how this evolves. there are cases in which it would be appropriate to cut rate this is year. casesin which it wouldn't. we don't know. till we know more about how this

will settle out and what the economic implications are of unemployment for inflation and i couldn't confidently say i know what the appropriate path will be. reporter: the fed chairman form ago wait and see till how the policy plays out and uncertainty and he's not seeing again and impact in the data here and in fact trade with china coming to a halt because of up to 15% tariff imposed and under the cover of this meeting with a swiss president and the trade secretary meeting the vice premier lina fong. >> what we're doing in switzerland going to talk on sunday and going to talk about it and it's the big trade deal

and de-especially ragaini late before we move forward. coming down out of the meeting and going to have the path forward for the trade talks. >> taylor: can you answer to me, this feel like one of the first types in a really long time i heard the chair jay powell toe the line. not committing to anything started pushing it off and sigalert the there have data is uncertain and can't act now and do anything preemptively and don't know if the data is play the the tariffs straight and it's a straight line? what do you think? reporter: we got a statement from the federal reserve and 30 memberships before the news conference and looked at statement thinking oh, boy, here we government fed chairman going down the road and take the path

of uncertainty and risk. we heard in the news conference him sort of walk that back a bit. again, talking about down the middle of the road and wait and see. it was more wait and see than i've seen in a very long time from the federal reserve chairman and we didn't see that slant in the conversation and look at this statement and went further than the federal reserve statements going over the past seven years i've been covering them and heard his words this. i said, yes, he walked that line down the middle. taylor: walking down the middle and unchanged on the daytime edward lawrence, thank you so much. great work. taylor: fox business alert, you guys, holy smokes. take a look at disney and shares jumping 10.5% and they're in the happiest place on earth and disney reporting blow out earnings leaving top and bottom line expectations and bolstered

by the streaming platform and disney plus adding subscribers and even after the company issued a warning three months ago saying they were expecting a decline in subscriptions because of price increase. meanwhile on the theme park front, disney u.s. park saw a 9% revenue increase and this is all as debut announced debut of first ever theme park in the middle east. it will be located in abu dhabi. get construction going and we'll take a field trip on the claman countdown. talking about shares of alphabet. they're plummetting about 8% landing near the bottom if not the bottom of s&p 500 and drop is on reports that the mag 7 rival apple will add ai powered search providers to safari browsers on app 8 devices and stock down almost 2% and comes a week after the alphabet ceo took the stand in their remedy phase of google antitrust

trial and railed against the doj plan and l share the values. the company filed for chapter 11 bankruptcy seizure disorders. seizure disorders. it's an effort to cut out $1 billion in debt and expand the telehealth business. the 62-year-old company has seen competition from weight loss drugs like ozempic and wegovy eating away, get t at it is customer base. power pipeline companies and looking at high-tech to boost the lot pompeo lean. allen armstrong talking about ai be a key component to his company's future. he's here just days after announcing he's stepping down after 14 years.

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♪ taylor: someone born protestant and becoming more and more catholic every day of my marriage, this is a very special day for catholics and other christians around the world. you're take ago live -- taking a live look at st. peters square at the vatican while we were tied up in the fed chair, we did indeed see black smoke. that does indicate that no pope had been chosen in the first vote of the conclave. now, the cardinals will reconvene tomorrow and they're expected to take several votes to choose their successor to pope francis, who died on april 21st. they needed to two-thirds majority of the 133 cardinal electors that are in there.

so we wait another day. price of nash rale gas is surging and up almost 5% and diamond back and koenen terra announcing -- coterra announcing reductions in drilling and freeport, lng and working out of total outage at the plant yet. talking lng, you want to talk to the ceo of williams companies cs and that's what we're about to do. they move one-third of natural gas and energy company that owns and operates more than 33,000 miles of pipeline across the u.s. in 15,000 miles of interstate natural gas pipelines. company's company ceo allen armstrong joining me now live in a fox business exclusive. always great, sir, to have you on this program.

talk to me about these and no one knows what the future holds and you're raising profit guidance and what drives your profit guidance. >> we had a new record for long term contract and transmission capacity and really all faucets of the business are r it was a great first quarter and basis performing very well and it's really exciting is the way our

long term horizon of growth is shaping up and just continues to surprise us. taylor: talk about the opportunities because it continues to surprise me as well that energy is what t seems to e powering ai. i didn't have energy on my bingo card and every energy ceo such as yourself came out and said we're the future if we want to be the leader in ai. how important is ai to the growth of your business? >> one of the things that are -- we missed with all the demands and natural gas is low compared to the alternatives and we can dispatch and in other words we can dictate it come on and not

in the form of interruptable power and it's serving a important role in supplementing and reducing and it's not a power source to rely on and it's not one that we can bring on in scale in short order in the same location where is a lot of power demand is creating so yes, we are seeing tremendous demand and one thing people are missing on this ai load is the urgency and the speed that the big scalers are after and i think a lot of market miss that and it's reliability and natural gas has the option to talk about that . taylor: trying to meet that with

a $1.6 billion investment for ai datas and tell me about that. >> project in ohio right now on the solution and requires us to really invest quite a bit to make sure the reliability is there. the big problem in the country with markets and ie isos and the trans-grid operators and the queue in some areas in the pjm is eight years and that's no relevance whatsoever in the market of ai. solutions are popping up and hats off to our team for listening to what the customer wanted in the situation, which was speed and reliability and being able to not be held up by

the big infrastructure and that's what our teams are delivering on. it's really excited about the support we've gotten from the state of ohio, as well. they're all about energy and infrastructure and not standing in the way of stuff and encouraging it and i would tell you that state that are doing that will be huge winners in the states that are still arguing over whether they're going to have fossil fuel pipelines in the states or not will be losers in this process. and it's going be a little too late when they figure this out. taylor: you mentioned customers and scalers and biggest ai cut merri bowl and who is that customer? >> that's clearly the case and they're really the ones that scalers and and&they're clear

focus on speed and reliability. when customers are clear about what they want and they work with you to become regulatory issue tots degree that exists and that's really the recipe for success. >> taylor: people commented to me there's administration to me trump said for example and going for the regulation and he wants to cut ten. sort of a de-regulatory environment and a lot of people think that's the only way we can win in this speed and efficiency you talk about thinking about the big race against china.

for example. how important is it to have either state or federal government that's focussed on trying to lower the regulatory barriers for you? >> agencies get a lot of blame and it's not the experience that the federal agencies are necessary and the problem there's a lot of room for improvement and there's a lot of reason the agencies have to go through extraordinary tests because of the litigation risk assoassociated with the current permitting process and any ability and ngo os and hell bent on stopping in the progress and dragging us into the courtrooms on projects and really make it un-cassioppi cementable to go after that and it really, we need judicial reform in the legislative process and i will tell you to the degree that it is the states generally that

throw up the barriers and then it's the ngos that take advantage of them states trying to throw them up and going for them un-successful and companies like williams looking quickly and not going fight that and plenty of demand for the services and our product and i would just tell you i think that's going to be a huge awakening when people realize that states are denying themselves the possibility of them all. taylor: go where you're wanted or treated well as a business and last question e can't let you geopolitical before that and stepping down and you two announced to be resigning and retiring as well and tell us what you can and about the future of williams companies and the future for you. >> yeah, well, thank you. well, i'll just tell you it's been about 14.5 years now for me

as ceo and been fantastic time with the company over 3 9 years and it's a -- 39 years and fantastic experience, but i'm really excited about my successor who i had the pleasure of working with for a number of years now in my staff and he's the guy to take us to the next level. full of passion going to step up to all the great opportunity as a company and i'll still be executive -- start as executive chairman in july and i'll certainly be here and love this company and, you know, the intelligence through the roll. taylor: a lot of ceos make it 14 years with the same company and

congratulations to you, sir. well done. we wish you the best and of course, the future of the company, the best as well. >> thank you very much. taylor: markets trying to dissect them with powell and one key point going with general consumer sentiment it&forecast showing uncertainty and hard data still positive. >> people are feeling stress and concern and unemployment not going up and wages are in good shape and people are not -- people are not getting laid off at high levels and claims for unemployment are not increasing in any kind of impressive way. the economy itself is still in solid shape. taylor: sounds good; right. why don't we ask the big guys and jack oliver and brandy wine global portfolio jack macintyre.

two jacks going by your last names to have wanted mr. oliver, react to that and hard data franklin looks okay and how do you invest around that? >> yeah, the message today was largely positive and not rushing through c cuts and data isn't there yet and jobs numbers have been good and inflation is relatively tame and not at target level and it's low in recent histories and these times of uncertainty going for opportunities and going for long term investors should be looking for this. taylor: the value of a bond around a 425 or 420 at this moment? >> powell opening the door and might have to go through

stagflation and unemployment might deteriorate and inflation going for them and it changed them going to park in the front end of the treasury curve and might be a good strategy as we transition to economic slow down and things plan out and play out and you're not taking the road. taylor: mr. oliver, adding pepsi to the portfolio going for them and i would say the franchise and largely snacking business majority of the profits are often compared to coke but more of a snacking business and it's at a 40 year high diversity dent yield and bond investment going for them and nearly a 4.3% dividend yield and strong business that's should off recently and has a great management team.

and 20 iconic brands. itaylor: apologize, i have 20 seconds. >> equities and bonds over the course of coming years and counter trend move in the u.s. dollar take advantage and move money outside of the u.s.. taylor: mr. doug macintyre and jack oliver on a very big fed day. as you can see, snap ago two day lead losing streak going for them and kudlow is next. larry: hello, folks. welcome to kudlow. i'm larry kudlow. china can never be trusted and their economic data is vanishing and scott bessent going over there allegedly to negotiate and see how that turns out and newt gingrich here nt