jay: let me be clear. ,ndexation, diversification they are extremely important investment tools for individual investors. diversifyge people to , to use low-cost index products. 40 years ago, getting brought exposure to the marketplace was costly for an individual investor. today it is almost costless. that is a wonderful thing. i do not want to do anything to impact that. inook at what is going on individual retirement accounts and i look at well-managed pension funds and i see well-managed pension funds have a lot of exposure to our private markets, which last year raise more capital that are public markets, and saying something there is we should be doing? is there some portion individual investors should have the choice to invest in? investor protection at the sec is paramount. david: another shift we have seen is the extent to which u.s. investors are investing in overseas company. let's talk about china. we do not always know we can trust the numbers, the audit numbers of chinese companies. what can

thed: when it comes to president and jay powell, no news is good news. many thanks to abigail doolittle. coming up, 50 five years after its debut, the ford mustang is getting a second look. we talk with ford automotive president joe hinrichs. that is next. this is "balance of power" on bloomberg television and radio. ♪ david: this is "balance of power" on bloomberg television and radio. hinrichs,is joe president of automotive for ford motor company. he has a big announcement made last night. tell us about this new mustang. it is the first expansion of the mustang brand in the portfolio and 55 years. we will still keep making the wonderful sports cars, but it is a 300 mile range suv mustang. in the design you can see it. it is also exciting, a new technology, the gt version zero to 60, all kinds of updates. we are excited about expanding the mustang brand. david: when can we buy it? joe: it will come out in the fall of 2020 but we are taking online reservations right now. you can go online and put your order in and we will build them in the sequence of

jay: it is a lot of hearsay. the whiseblower, who they already said will not be testifying, the original whistleblower, it was all secondhand information -- i hearfrom white houseers they were concerned about this particular call. really you have to democrats bringing forth in william kent and bill taylor the strongest cases that they thinwill make e connection in the most compelling way that there were laws broken and this was in fact collusion with a foreign agent to interfere in american elections. whether they make that case remains to be seen. laura: the president himself as meeting rkey's president erdogan, but will he be keeping an eye on the proceedings even though he says it is all a hoax? jay: we will see with th' presidens twitter feed. we will not instantaneously nowhether he is watching o my guess is that he will watch less t hearings themselves than the fox news summaries at the end of the day, which seems to be his choice way of consuming news. but he sometimes tends to tune in and-t you see him in

so, i try to look at what jay-z talks about. you know, he explains why he became a hustler when he says, "all the teachers couldn't reach me and my mama couldn't beat me hard enough to beat the match pain of my pop not seeing me so, with that disdain in my membrane, got on my pimp game. forget the world my defense came. so, he's explaining, a father absence and hurting pain at the house drove him out into the world. so, i talk about how he hustled selling drugs, but how he transformed that hustling from the street into to the suites to become a ceo. >> jimmy: yeah, wow. look at that >> yeah. >> jimmy: i mean, this is a great -- >> yeah. >> jimmy: "made in america" is exactly a great title for that because -- >> oh, yeah. i mean, it is american it's american. i mean, american as american can be and then, the second part is poetry, where i talk about, as great as he is and as clever and witty as he, is people miss the kind of literary inventiveness. you know, he said, "look, i would write it, if y'all could get it but being intric

i want to jathank jay o'connor. and i want to thank general edwin thesemeese iii. 75th attorney general of the united states. on behalf of all of us it has been a joy and a pleasure, starting your day hearing about the truly extraordinary sandra day o'connor. thank you. ... (applause)

will jay powell just get questions on that today? michael: he may come from both sides, but it is unlikely jay powell will rise to the bait. he will want to stay out of that whole thing. think the economy is in a good place, and that is partly because of us. this in about these fed appearances is they release the testimony early, so we've already reported it. the bad news is that he didn't say a whole lot. he didn't add to what we know. basically, his line about the economy is that it is in a favorable place because of the fed cuts. as monetary policy operates with a lag, the full effect of adjustments on economic growth, the job market, and the inflation will be realized over time. we see the current stance of monetary policy is likely to remain appropriate as long as the economy develops as the fed thinks it will. he said the biggest threats to that are sluggish overseas growth and trade, which brings us back to the president. mike, this is the fed chair, so i don't want to pour too much cold water on this, but from a market perspe

jay is as an artist. >> i figured we'd start acapella. with if you're having girl problems i feel bad for you son i got 99 problems but a bitch ain't one, hit me. ♪ fools that want to make sure my casket's closed ♪ >> yeah, that's money. >> rick rubin created so many classic hip-hop records. the beastie boys and run-dmc taking a break beat and mixing it with an ac/dc guitar stab. that's rick rubin 101. ♪ i pull over to the side of the road ♪ ♪ i heard son, do you know what i'm stopping you for ♪ ♪ because i'm young and i'm black and my hat's real low ♪ ♪ do i look like a mind reader sir i don't know ♪ >> jay-z represented you can have real longevity in hip-hop. for the longest time new york had been the center of the world in hip-hop. the south for the most part hadn't made itself heard. that started to change in the 2000s. and you're getting outkast. and outkast is amazing. ♪ underground international ♪ >> outkast became rap's beatles in the 2000s because we found both but particularly andre becoming more obsessed

rappers like jermaine dupri, jay-z and ja rule were saying to the world can you believe this? this is about survival and surviving racism in america and we're going to share this with the world. ♪ uh-oh another episode ♪ to everybody that's living it up we say ♪ >> hip happen's no longer the bratty kid on the block, it's the predominant music. and then what really takes it over the top is a young rapper from detroit. ♪ you act like you never seen a white person before ♪ >> in 2000 eminem puts out the marshall mathers lp, marshall mathers being his real name. suddenly the biggest star in hip-hop is eminem, bar none. ♪ all you other slim shadies are just imitating ♪ ♪ who's the real shady please stand up ♪ >> eminem came from a white working-class background and those are the stories he told. it just put him on a different level because he brought his own authenticity to the game. >> deejay. >> i saw "8 mile" in times square opening night and had to sit in front of the theater. it was one of the most satisfying movie experiences i've ever had. i mean, listen, o

>> sÍ. >> jay puede colocar esto tres a tres, jay flores. tres a tres. apunta jay. el leÓn ruge y se queda en exatlÓn estados unidos! y jay flores en el cuarto domingo de eliminaciÓn. >> me voy feliz con una familia nueva. >> te queremos, jay te queremos. >> ♪ (mÚsica) ♪. >> precisamente aquÍ estÁ con nosotros jay flores el puertorriqueÑo que fue bautizado como el corazÓn de oro. >> bienvenido jay ¿cÓmo estÁs?. >> te queremos, jay, te queremos. 12 semanas en exatlÓn estados unidos, yo te tengo que confesar algo, al principio tengo que reconocer que yo decÍa, bueno, poco a poco, pero de pronto tuviste un despegue que fue increÍble, se cambiÓ, ¿quÉ provocÓ ese cambio en ti?. >> lleguÉ a 12, luche, y creo que la visita de mi novia que ahora es mi prometida me ayudÓ mucho. >> ayudÓ mucho, levanto el Ánimo. >> lo que hace el amor ¿verdad?. >> jay, mira, despuÉs de este reto, como lo es exatlÓn estados unidos ¿quÉ tipo de retos estÁs listo para enfrentar ahora? porque la vida continÚa, siempre hablamos de esto. >> sÍ, si, no ganÉ los 200

>> jay leno wanted to essentially just continue doing a johnny carson-type show. and david letterman was the show immediately following carson. and they had different styles. >> what is your name? >> i'm going to ask you to turn the cameras off, please. >> okay, we just wanted to drop off this basket of fruit -- >> part of dave's thing used to always be attacking authority. he likes that. >> cut the cameras off, please. >> he needed a corporate bad guy to go up against. i was oftentimes that target. >> i can hear this warren littlefield guy whining all year long about not getting his name on the card last year. >> he's on it. >> look, what about me? i could be on there, couldn't i? >> it was always letterman's dream to be the host of "the tonight show." he idolized johnny carson, rightfully so. >> the big decision that's had the entertainment industry buzzing is due this week. that of course is the fate of nbc's "late night" stars jay leno and david letterman. >> most of us thought the person who deserved to get it was david letterman. he didn't get it. jay leno g

jay powell addressing the joint economic committee and we get u.s. cpi data. thursday, we get a slew of fed speaking. friday, the u.s. retail sales and industrial production. that stage from the president next week, what are you looking for? >> i think some color on trade and aspirations would be good and i think he is physically articulating his agenda for the next year. in some form or the other for his reelection bid. >> just easing for the markets. jonathan: do we need to get a resolution on the trade agreement? >> i don't think the word resolution. it means different things to different people. we are all just hoping for easier conditions with respect to trade. >> i think he has to keep it going. he has to keep it going all the way through the election. i think otherwise, he will be criticized for being too easy, for caving before he got to the hard stuff. jonathan: many people who think this president needs to deal with the .20 win on election campaign. just be in the background and focus on having a good economy. >> they need to take the trade issue off

jay powell has learned a lot. the comments that he made in his press conference were really the most significant set of comments that have been made by a fed chair in a while. we will not even consider raising rates until we see persistent inflation, which is never. jonathan: the fed pauses underway, i wonder how long it will last. rapidfire round. let's begin with the first question. do we get something referred to as a phase one deal by this administration before year-end, yes or no? krishna: yes. samantha: no. robert: yes. jonathan: when to buy the u.s. 2.25,r, now, wait until wait until 2.50, or 2.50 or more? robert: better safe than sorry. 2. samantha: no timing, if you need duration, buy it now. krishna: 2.25. jonathan: if you have to allocate capital on a regional as basis, europe or the united states? robert: that is a tough question. europe. krishna: u.s. or credit, europe for equities. samantha: allocation, u.s.. if you want to be tactical, europe. jonathan: great to catch up with you guys. from new york

jay leno got it. when we found out that leno was going to get the "tonight show," we were all obviously depressed. we felt like we were being punished for making fun of them and not cooperating and not being as collaborative as we could have been. and we also felt like we were being t being disrespected because we did 11 years of great shows. >> just how pissed off are you? >> by all rights, david letterman should have taken over for johnny carson, but his agent took a very, very aggressive stand. we're going to really control all of late nate. it's going to cost you a fortune, and they put our backs to the wall. >> i can only tell you that it's been an honor and a privilege to come into your homes all these years and entertain you. and i hope when i find something i want to do and that i like and that i think you'll like that you'll be as gracious as inviting me in as you have been. i bid you a very heartfelt good night. >> the "tonight show" without johnny carson as the regular host made its debut l

proceedings public at 10 jay powell the fed chair testifying at 11. the the dow is down 106. >> i think that's more about we've had a pretty good run in the last six week or so. so it is a pause in the market. i don't think right now the reaction is the -- the hearing that down in washington. i think more china talk and maybe this thing is not a done deal yet but i think it is a pause in the market. >> you would make the argument that many on wall street don't think, i mean, that hearing in -- you know the impeach until house isn't what has people afraid it would be rare event that president actually gets removed from office by vote in the senate is wall street doesn't think that would happen. >> they don't think it would happen but mood of the country is critical to this because it is fantastic they've been spending. they are earning more money been a great story. but consumers start to fear that this thing might evolve into something really, really bad, mood of the country is going to change consumer stop spending we have a real problem and go into

that was discussed again by jay powell. is there anything congress can do to get more certainly, particularly on the u.s. china trade relationship. rep. womack: the last thing you need is congress dictating trade policy. we know the elephant in the room is china for a lot of different reasons. therefore i support the president in his quest to hold china more accountable and develop the kind of trade policies that are freer and fairer for everybody concerned. the sooner the better, we can get these trade policies ironed out. it's not forget we had usmca ready to go. it needs to come to the floor of the house. i think it would give her 300 votes. what it does, nancy pelosi needs to bring usmca to the floor. that would be one example of many on the trade front that would serve our country very well economically. david: we have to keep the usmca on the radar screen. thank you very much. representative steve womack. thank you very much. among about 1:00, we will talk with the chairman of the budget committee, congressman john ya

jay gray joining us with what we might expect >> good morning. you talk about the markets and the nation preparing for and waiting to see what happens. today marks a big shift in the process and a big test is the nation as interested or as intense as lawmakers begin in the process of impeachment the process begins today with bill taylor, lead u.s. diplomat and george kent, a senior state advisor. those are the first two witnesses that will be questioned by lawmakers as well as staff lawyers many of those already involved behind the scenes questioning many of the witnesses in private depositions. the public hearings will continue friday. we learn last night there will be at least three more public sessions one tuesday, wednesday and thursday of next week. this is a high profile public test for impeachment on both sides as well as the white house watching closely >> big story there thank you very much. >> it is not just the impeachment inquiry. checking out the other stories that could weigh on that fed chairman jay powell offering the platform to

finished a very good and cordial meeting at the white house with jay powell of the federal reserve. everything was discussed including interest rates, negative interest rates, easing, dollar strength, manufacturing, trade on china and others etc.." ♪ when it comes to using data, everyone is different. which is why xfinity mobile is a different kind of wireless network that lets you design your own data. choose unlimited, shared data, or mix lines of each and switch any line, anytime. giving you more choice and control compared to other top wireless carriers. and now get $250 off when you buy a new samsung phone during xfinity mobile beyond black friday. plus, you can save up to $400 a year. click, call or visit a store today. >> looking for an exit. you -- of the university sees in hong kong continues with police battling protesters. the negative rates debate. the president invites powell to the white house. did the fed chair hear but not listen? does greece need more high-end hotels to get? the measure moving? live in london, i am guy johnson, with vonnie quinn in new york. we ar

his son was at the party dee jaying. he had been shot. >> that's all i can really just two hours doing, try to hurry at the scen area hospital where he learned son did not survive. he was pursuing his dream of being a dee jay the last few years. >> he loved bringing people together, dee jaying, making the party move. that was his thing, man. >> reporter: his son's death affected the whole family including his second oldest son omari. he showed up to school at clayton valley junior high. >> he was crying pretty good and told me his brother was shot and killed. i was blown away. >> reporter: omari went on to play friday night. his teammates dedicated the game to his big brother. for residents of orinda, people have been leaving cards and flowers at the driveway to the party house and near downtown. >> we're just looking for ways we can it's so small, but just a way we could give some support to these families who are grieving tonight. >> reporter: omar taylor, sr., says the support he's been getting from family, friends an

what have we got coming jay powell taking to the stand. we will bring you the fed chair's testimony on capitol hill, live at the top of the hour. this is bloomberg. ♪ ♪ vonnie: live from new york, i'm vonnie quinn. guy: from london, i'm guy johnson. this is "bloomberg markets." is cannabis company tilray our stock of the hour after reporting mixed quarter results, featuring losses greater than beacted, with revenue ting estimates. isomberg's kristi noem standing by with cowen and company senior research analyst vivien azer. >> thank you for joining us. i wanted to talk about a recent forecast at the beginning of this week. you actually raised your outlook for how big the u.s. market is going to be. 2030, upon in sales by from 80 billion dollars previously. interesting to see that, given the stock declines we have seen. it's been a tough two months for the market. what's driving your bullishness on the space? vivien: the revenue profile in the u.s. has been very healthy. we are seeing more and more andumers into the category, there is g

let's start the conversation with a meeting between president trump and jay powell. the dollar weekend when investors talked about negative interest rates and dollar policy. how vulnerable is the dollar to more potential pressure from the president on jay powell in an election year? >> that will be an inhibiting factor for dollar strength. for this weird environment with the u.s. dollar right now, global fundamentals are not great, and i get that it is now becoming the consensus that things should bottom out in the first half of 2020 and gradually recover, but what we have seen over the last few weeks is that the dollar can perform well as a safe haven at least against many currencies including most of the em space, but it can also perform well when the parts of the u.s. yield curve were we teeping -- and ratesre--- re-steepening and rates were going up. from the mindset of global investors, there is not a lot of attractive investment options out there that offer a good risk -- a return on a risk adjusted basis. the dollar can gain in a number of different global eco

liz: jay, you know, jay might be right on one point, and that is when autonomous driving and these cars go driverless, may very well be that moment where a tightly coiled stock price might suddenly spring up, right? i mean, we went out to phoenix and were in the waymo car and waymo of course is not having a deal right now i believe with uber but you look at these things, people are hailing them right now. you don't have to pay for a driver. what happens then? >> that changes the economics of everything. you take out one of the biggest component of costs, it purely becomes a capital game of who can have as many cars on the road as possible being driven autonomously. that's a game uber can win because of the size and scope of their business. liz: yeah. that was john krafcek of waymo. we are about 20 minutes away from uber results so everybody stay tuned. thanks, gentlemen. >>> the rise of robots. or maybe not. connell mcshane examining the swing state economy in pennsylvania in just moments, where humans work hand in hand with their robotic friends. yes. co-existing. that's next. >>> chec

powell although jay powell seems like he's putting up at least a mock you know trumps trying to go get him to do negative interest rates and he's playing the damsel in distress you know he's out there teasing the show's a little fi and he's like oh yeah i might cut rates i might not and he goes oh no my big brother go negative rants you know it's like this very bizarre courting exercise and then trample eventually when i suppose. we'll be beaten to some degree to lower rates because i do believe he's going to be resistant to negative rates. well i mean negative rate. completely wrong because it just stands time preference on its head we now have what they say something like 1617 trillion of bombs around the world on a negative yield i mean how do you climb down from that it's a complete nonsense the only way you climb down from that basic a is there is a massive massive collapse of confidence in government debt or alternatively a massive expansion in the quantity of debt which governments need to raise due to a recession a slump perhaps what what happens under those circumstances is. g

congress to create treasuries so they cannot if you're if we're looking to this guy we're looking to jay power droom pal yes i have 2 names so everybody gets confused right if you were looking for him to you know basically stop fog all he could do is flog a dead horse he's a monetary policy guy he's not a fiscal policy guy there's nothing he can do to change the situation that the horse is dead it's only you know you have to keep the horse from dying what in the treasury is debt it's a it's a short term loan it's a 30 day loan or a one day loan it's still debt if you look at your dollar bill it says a federal reserve note note if you look that up in the best pedia it'll tell you it's debt debt is a note right there not creating this stunt has nothing to do with money it's created it's for mal the high it's monetary formaldehyde and they're trying to and they're complaining that the corpses and breathing and they just are failing to acknowledge that the global economy died in 2008 fall stop everything like the titanic you know. i made this analogy before just because stocks that would be

and this has jay z. written all over it for one when the announcement was made in the interview was made with roger goodell he basically made the statement we are past nearly which outraged a lot of column capper nick supporters are you know he received a lot of backlash for that and for all we know this was in the works for quite some time and you know it's interesting what's been coming out the narrative it makes it very clear the college caprona camp and the n.f.l. can't even agree on the agreement but it looks like this has come to fruition with jay z. because it was reported the settlement that he did sign and so this was not a part of the settlement that was already reported so the only thing that that you can connect. well he was in those who were in that settlement maybe he agreed in that settlement to never take in the again or to never imagine it again so at the end of the day are we looking at a situation where this could be a win win for the n.f.l. and a lose lose for colin kaepernick well th

cheryl: jay powell was testifying. he basically reassured the markets they're ready to act but you're not expecting a rate cut in december, are you? >> doesn't look like we're going to get one right now. the yield curve has steepened over the last few weeks. you've seen the bank stock prices reflect that. so we were discussing that any other time jay powell would be on the hill we would be market moving, but in the middle of the impeachment stuff it's almost as if he's not even there which i think is a good thing for jay powell. he has a tendency to set markets off in directions not intended with the way he speaks. cheryl: the s&p and nasdaq hit new records. what are you expect to hear from walmart? there's a lot of buzz doubt the grocery business which is kind of going up against amazon, especially for deliveries. >> the way these two companies are fighting each other out, it's like coke and pepsi back 20, 30 years ago. amazon is pushing hard in the grocery space. walmart has home delivery where they can put the groce

jay wiseman thank you. and thank you for watching the big picture i'm holland cook in washington question more are. you. so little. so. we'll. we'll. deal. and very well may continue watching us until. one explains the bipartisan commitment to an ending wars in foreign military interventions recent polls show the majority of veterans who fought in this century's foreign morris' say it wasn't worth it in 2016 game traction for doubting foreign adventures could be.

we heard jay powell ask about that. in his opening remarks, he said i am concerned that if we get a downturn, we do not have the ability because we have borrowed so much money, to really have fiscal stimulus. at the same time, there is talk of a middle class tax cut going into election year. terry: i think jay powell is exactly right on that front. particularly in the sense that there is not a lot more room firstly, and secondly as you point out, the talk of doing another tax cut, i think frankly, it is real, but it is just that. it is being done not only for elections, but understand the constraints that would existing congress. in reason we got a tax cut 2017 was there was a deal to increase the deficit by $1.5 trillion over 10 years. in this not find that constraint situation we are in now to do that again. david: the white house might talk about a tax cut. the democrats agreeing to a tax cut at this point? terry: certainly not. david: this is more electioneering. electioneering. david: thank you, terry haines. comin

as i say in my book, jay-z represents an american society that is scrapped from the bottom. i quote an american historian who says that hustling is the central motif of american society. if hustling is the central motif of american society, both the bad kind, the scoff laws, those who were on the take, and the good kind, those who are the go-getters, those who understand they have to make their way by their hard work, that's where we are. that's where the american people are, and i think any politician love to understand what jay-z , that man from brooklyn, has mastered. that you got to gird up your lion loins, connect with other people, and then do the right thing in american society. if politicians were more like jay-z in that regard, i think we'd have a better chance to see something good happening in this american political season. >> dr. michael eric dyson, thank you very much. the book is "jay-z: made in america." >>> coming up, as american shoppers head out to stores to buy gifts for the holidays, they may feel some sticker shock due to president trump's war on christ

jay-z is not one of them. >> you got it in, rev. you got it in. [ laughter ] >> there is so much to cover about jay-z, so i want to know like how did you condense it into one booklet? what are your big three take aways? >> that's great. the first one is his hustling, i talk about his transformation from street hustler to american businessman, and you know the historian walter mcdougal says the central says it's hustling. the second is pretolitical genu. they're saying they spin it. i'm like you should buy it. that's good business. thirdly, his political acumen. this man understands slavery, jim crow, immigration, equality. and leading a fight for criminal justice reform. even in the nfl the controversy with the offing what jay z has understood. like reverend al sharpton, first, you stand outside an you protest. then when you get it right you say this is how you do it then you negotiate a pact and a piece. that's what jay z has done. >> brooklyn guys know how to work outside and inside. we just know how to do that. >> i'm going to as

jay powell says they are not appropriate for the u.s. economy right now. president trump says a china trade deal is moving along rapidly after earlier reports of negotiations stalling over foreign purchases. we have the first public impeachment hearing testimony revealing the president's lawyer was digging up dirt in his shadow diplomacy in ukraine. howi: let's take a look at we are setting up when it comes to the start of trading here in sydney. investors dealt a pretty mixed hand overnight. stocks closing pretty close to fresh record highs. still, uncertainty over the lingering trade negotiations continuing to chip away at sentiment. we are hearing potentially the agricultural purchases that had been a solid part of the phase i deal could be in doubt. china reportedly saying if these tariffs are not resolved, they could back away from purchasing more u.s. soy and pork. taking a look at the picture, just about 1/10 of 1%. watching the labor market numbers, typically quite volatile, could be a move in the aussie dollar. new zealand, upside about 1/10 of 1%

>> jay-z called emilio first. >> our night with a tearful charlize theron. >> i'm a little emotional. >>> plus, our miranda lambert exclusive on her hot house husband blowing up instagram. >> that's what abs will get ya. >> and we're kicking off a whole week in the bahamas with my very scandalous co-host bellamy young. >> and all the sharks in the world. >> "e.t." from the bahamas starts now. oh god! >>> welcome to bahamas week. week from the bahamar resort with the star of "scandal" and "prodigal son" bellamy young. thanks for co-hosting today. >> today? you mean i can't stay here all week. >> i'll see what i can do, but why don't you get us rolling here. >> love to. here is tonight's top story. >>> what's up, kevin? >> new video, kevin hart's first interview after his horrific crash. >> completely recovered or still healing? >> no. i got a process. it's gonna take some time. be patient. >> you gonna get back to comedy soon? >> in time. right now i'm relaxing, being with family and recovering. that's all that matters. >> kevin was upbeat and grabbing breakfast to go in calabasas this

a republican strategist who founded relax strategies a political consulting firm here in washington jay newton small contributor to time magazine and author of broad influence how women are changing the way america works and peter off contributing editor for newsweek magazine and commentator for one america news network thank you so much for joining us peter let me just start out with you what is the dashboard of this look like you know your i know that you have written about the republican party and you've written in your own opinion pieces in support of president trump but i think at the dashboard of what you think you are seeing and that maybe are others that americans aren't seeing about what you think the dash board clearly is that the truck parts of america are getting trump here and the parts that don't like president are getting more intense in their dislike of the president you know how that all adds up in 2020 is something we're going to have to wait and see because i think we've i think we've reached the point where peter hart the democratic pollster was telling me this that

jay powell came in in 2018. there is some continuity. this kind of went back that question that jay powell had to field where she started talking about the ability of monetary policy to affect long-run labor market outcomes. chris condon asked about that and she said, no, just to clarify, i was just suggesting that this was a theoretical possibility. i think you are starting to see, as the evidence accumulates, more and more belief that this could be the case. in your view, for all of this talk, how deeply entrenched still at major central banks and the fed is this idea still that even though there is a dual mandate, that fighting inflation is the first among equals. are you optimistic that the kind ?f work being done >> no, and the conflict at the first sort of glance, what we are talking about here is we have overestimated the risk of inflation. a goalt we are pursuing of sustainably lower unemployment. the other issue is that you are trying to avoid a recession. on the others of this, you are trying to not tie in policy so much on the

. >> jay gray live along the parade route and, jay, we're going to see the balloons coming in behind you here. >> reporter: there was a lot of concern because of the winds but the balloons are going to fly. not as high as they normally do. keeping it lower to the ground for safety reasons but they are in the mix. in fact, take a look now and you can see diary of a wimpy kid balloon. that will join the parade along with all of the bands from around the country, the more than 2 dozen floats that are a part of this parade and then you've got all the entertainment groups, the baton twirlers, the flag corps, the entertainers here headlined by celine dion. it should be a fantastic start to your thanksgiving morning. more than 3.5 million people lining the parade route. some camping out overnight to get the best spot. should be a lot of fun. i hope you get a chance to watch the show. >> totally will. behind you there, jay, are two people dressed as pencils. and you know their parents are watching for them. that is my daughter right there. the pencil. thank you. i appreciate that. >> reporte