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tv   Bloomberg Markets Americas  Bloomberg  June 14, 2017 12:00pm-1:01pm EDT

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was among those wounded. dead from his injuries, according to president donald trump. we are awaiting 2 life events. first, house speaker paul ryan will speak in law enforcement in alexandria planning another news update in a minute. let's go to the white house where president donald trump spoke about 20 minutes ago informing the public that the assailant is a data. kevin cirilli has the latest. -- the assailant is dead. some arise what you know about this just some arise what you know about this so-called -- summarize what you know about this so-called assailant. saying he president is rish up to the wife of representatives steve scalise, his own personal friend, the
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third-highest ranking republican in the house of representatives. theaying he reached out wife of representative steve scully's. -- steve scalise. at least one of those injured was a congressional staffer on a that the baseball field and he thanked the capitol police, those who helped to save with her her role good italy's on that baseball -- here rolet -- heroic duties on that baseball field. way for lawmakers to engage with each other on a personal and not political level. senioring told from a republican aides, member of the house of representatives that a meeting with the capitol police and all lawmakers in the house of representatives is about include or has concluded. some are stepping out to now full we are waiting at briefing
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from house speaker ryan who will begin speaking momentarily and that police briefing from alexandria police. the capitol police put out a statement saying their investigation is ongoing. an aide of rand paul spoke about the event as it unfolded. the majorityooting leader, steve scalise. he was to go to the ground in the hip and he is in stable condition. the helicopter to save those who had been shot. this was a nonpolitical moment in washington directly impacted today's events. the fomc we know meeting is going on ahead and there is a recess in the house after the members met briefly and the meeting did not convene until 10:40 five and a lot of
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people were at the hospital. how will it affect the rest of the day's events a it is the president's birthday? kevin: it is the president's birthday. i have received word that a member said members expressed "their strong appreciation of capitol police." it is they are asking for united front. that is a takeaway because the capital police saying an attack on one is an attack on all, our house dance together. that is the message from republicans and democrats i have interviewed. -- our house stands together. i have to stress this, there's a bipartisan so court and appreciation for the capital -- support and appreciation for the capitol police. the game, we are being told, is on. this charity event played in
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washington. even if it is postponed, i am told from several different sources that game will be played, no one want to see the gunmen gets his way on that one. gunman gets his way on that one. vonnie: i want to bring in bloomberg's congressional reporter. you were at the scene of a shooting a you continue to be. i'm sure thing has died down? >> shortly before president trump made his announcement that the fbi is has died, moving to take over the investigation. i saw a large van surely to collect evidence about 20 minutes ago and moving past this barricade area and moving towards simpson field where the shootings occurred. a vonnie: weying
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are awaiting another news conference and i'm sure they do not want it to compete with the house speaker's and that would be more word from the alexandria police and the fbi, who took over, correct? laura litvan: that is correct. us an exactt given time. we're all waiting. the area closer to simpson field has largely cleared out. dramatically different this morning when there were 2 blocks of flashing lights, numerous police cars. the alexandria police chief try to assure local residents that things would return to normal and it was an isolated event. vonnie: we are looking at events in the senate because they continue to convene.
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the house went on recess after meeting briefly at the beginning of session and is due to reconvene having a being briefed by various agencies. now that the shooter emma the assailant, shooter, this salad nowead, business will -- that the shooter, the assailant is dead, business will resume as normal? laura litvan: the house will not resume but i would assume tomorrow for that i would fully expected that. vonnie: actually, we are anticipating the speaker will make his comments in just a few moments. we are seeing congressional members lisa the all member congress -- leave the all member congress and they got a briefing for various agencies that are walking on the way to a podium,
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i imagine. house speaker brian should be arriving -- house speaker ryan should be arriving at any moment. you, areme back to there really any details that has been confirmed? the fbi in charge said it was too early to say what the motives were for this and also eyewitness reports that we did not know until now, now we do know it was the suspected shooter is now dead, ask whether it was democrats or republicans on the field? laura litvan: we have heard rumors but they have not confirmed. we were told at the last briefing by james slater, a special agent in charge of this investigation, that they -- they said they did not know the motive or if it was politically motivated or terrorism or because they were republicans or members of congress. they said they do not have
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information about the weapon used. vonnie: a representative spoke and said that jeff duncan was walking out and saw the shooter and said "who are these guys?" and he said are they democrats or republicans and he said those are republicans and that was the conversation. that was from a representative. we will hear more about the final hour or two of the us assailant's life. will we hear anymore when it goes into fbi investigation mode? will the public here more? laura litvan: we certainly hope so. we hope they give more information later, and within the hour or later. they told us five people were taken to the hospital and one was the shooter and he is identified as james hodgkinson
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from illinois, a 66-year-old. and capital police who were injured were not critically injured. and they are continuing to look at the motive and talk to witnesses and examining cars near the baseball field that may have been riddled with bullets. that thelso reports suspected shooter was a bernie sanders' support. bernie sanders condemns the shooting on a senate floor speech and addresses it head on and assess he condemned -- and said he condemned any act on the part of the shooter. he had done some work on behalf of the center's campaign. laura litvan, congressional reporter him a thank you. a look at the markets. that laura litvan, congressional
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reporter, thank you. >> we are sandwiched in between this morning economic data that was largely weaker than estimated. if you look at consumer price index or consumer cells and the interest rate decision, the market largely divorced from the event in washington. we are seeing a with little change, fairly typical for a fed decision day. the dow touched an intraday high, little changed at the moment as all three major averages. where we see with ms. is the -- weakness is banks is where we see weakness on the decline in the bond yields. on the flipside, interest rate sensitive stuff that do well when rates are lower are doing well. utilities is rising. the banks decline are helping to offset some of the gains. the most in the 10 year yield
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was in reaction to the economic data this morning. we have the one day change, one day net change on the terminal here. point today, we were seeing the largest decline in the basis points at 11 since the post-brexit reaction last june. now, under just 10 basis point which is been a relatively infrequent occurrence since last june. we are watching reaction and a caressing market a similar. here is the dollar versus all of the major markets. ande are watching reaction movement in the market is similar. all of this could change once we get the fed rate decision and the statement. finally, oil. we are seeing a big, big move, .own 4% trading in new york
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that is out of got the weekly inventory report showing a smaller than expected drawdown in crude oil inventory. and a build in gasoline inventory. demand for gas falling last week even as the summer driving season is supposed to be underway. demand is relatively weak. it is pushing down crude of various injuries stock in today's session. vonnie: thank you for that. i wanted to bring you up-to-date with london fire police saying the death total has risen to 12. and it is expected to rise. that massive fire in the early hours this morning. we will have more on the shooting in virginia at the gop baseball practice coming up. this is bloomberg. ♪
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vonnie: this is bloomberg markets. we want to go to speaker paul ryan. he's making comments. will go to that in a few moments. first, to our guest because the fomc meeting is taking place. we have tony with us. thank you for joining us. mostt interest rate hike likely end up next hour or two and a press conference following it. the client you speak to everyday asking you about the increase?
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>> clients are concerned about the inflation environment area we have to step back and ask whether one of long-term trajectory that we are expecting? bank andis, we are a we have a lot of clients that will make loans to. the anecdotal evidence is there is quite a bit of wage pressure in the economy whether our client hiring clerks and convenience stores or their next chief financial officer or construction worker. middle find in the market space is a tremendous tightness of labor. it has not shown up in some of the data which have to do that a lot of companies are able to use temp workers or older workers. but that underlying anecdotal evidence will show up in the labor markets. vonnie: how would out interest rate hike impact of the banks? tony roth: four bank customers on the landing side, their loans
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may go up. what we focus on is a bond prices may go down is in fact the 10 year selling off as we saw today. we are positioned in a way to be very underweight and we believe the tenure is probably too soft right now on the yield side and will go up over the rest of the year. we think inflation will materialize more rapidly than the market is appreciating. vonnie: when do you anticipate wages will rise and the core cpp will move up? tony roth dots -- tony roth: definitely by the end of the third quarter. we look at the environment and lending -- leading indicators --p we look at the atlantic indicators and we look at the elected fed is a have been spot on. see it accelerating into the third and fourth quarters. vonnie: we are waiting speaker
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paul ryan who is expected to make remarks on this morning's tragedy and a few moments and we will bring them as as a calm. back to tony roth. what you imagine the fed will stay -- say about normalizing the balance sheet later this year? tony roth: that is the key. if the inflation data is not subsequent to to the fed, the nets hike will be in december. in our view, they are looking to -- if inflation data is not subsequent into the fed, the next hike will be in december. in our view, they are looking to that. that chairwoman has not spoken to that and we expect her to today. think she will have specific dates or numbers? tony roth: i do nothing should block specific dates or numbers.
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we are going to house speaker paul ryan. house speaker paul ryan: those who serve and protect this capital. we are all praying for those attacked and for their families. steve scalise, zachary barth, maximize the, special agent matt to daily, special agent krystal greiner, we're all getting our thoughts to those being treated for their injuries at this moment. united.e are we are united in our shock. anguish andd in our an attack on one of us is an attack on all of us. [applause]
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speaker ryan: i know you want to give our thanks to the first responders and the alexandria police department were on the scene in minutes. i know this house wants to say unequivocally we are as ever awe d by the tremendous of bravery of the capitol police. [applause]
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speaker ryan: i spoke with special agent of bailey is special agent greiner this morning and one was being treated the one was about to go into surgery. profounded our gratitude to them. it is clear to me, based on various eyewitness accounts that without these two heroes, many lives would have been lost. [applause] speaker ryan: i know we all want to learn as much as we can about what happened. we all received a briefing from the sergeant of arms, i have
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complete confidence in the investigation being conducted by the capitol police, fbi and working with local law enforcement. we want to express our gratitude for the outpouring of support from throughout the capital and throughout the country. and it now, knowing steve scalise as we do, he is likely really frustrated he will not be up to play in the baseball game. i know steve was all of us to commend the bravery of those who came to the aid of the wounded. in the comic today's, we will hear their stories. days, we willng hear those stories. there are so many memories we will want to forget and so many images will will not want to see again. there is one image that this house should keep and that is a photo i saw this morning of our democratic colleagues -- [no audio]
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but we do not shed our humanity when we enter this chamber. for all of the noise and fury, we are one family. were our brothers and sisters in the line of fire. these were our brothers and sisters who ran in danger and saved countless lives. before this house returns to its business, let's slow down and how we, to think about are all being tested right now. because we are being tested right now. me toeach of you to join to liftto come together
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each other up and to show the country, to show the world that we are one house, the people's house, united in our humanity, it is that humanity which will win the day and always will. god bless. i yield. [applause] vonnie: you have been listening to house speaker paul ryan to speaking to members of congress. nancy pelosi is due to speak in a few minutes. we heard the speaker express gratitude to the law enforcement officers that had intervened and now let's listening to nancy
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pelosi. colleagues,: to my you will hear me say some things identify myself with the remarks of the speaker. inc. you so much for the sentiments they represent, thank you so much. -- thank you so much for the sentiments of they represent, thank you so much. [applause] nancy pelosi: we are not one caucus or the other today in this house but we speak for each other in saying that we send our thoughts and prayers to our colleagues, steve scalise. personally, we have our of italian american connection, as soon as i heard his name, i was filled with concern as i would for anybody here but we have this special connection so our
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hopes and prayers. i said i will ask you how five -- every five minutes how steve is coming along. who was a former staffer and as the speaker acknowledged, krystal greiner and mr. gbailey. and how fortunate we all were that they were on the scene because more lives would have been lost. i want to remember that every single day that the capitol police protect all of us, takes risk for us and while a day like this is a time where we can focus on it so sadly, it doesn't mean the other days aren't as challenging. i especially want to call attention to detective john gibson and officer jacob instnut, who in 1988 it was
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july, lost their lives protecting the congress after the capital. and not just the members of congress, the staff, the press and our visitors, people who come to see this capital, this democracy known throughout the world. as they are protecting a great deal. it is an attraction that makes it all the more risky. you may not know this but every time i pray, which is very frequently and certainly every sunday, i pray for all of you. all of you together. in earlier years, i used to pray for your happiness, for the fact we are working together. the words of president kennedy and the closing off his address when he said "may god's
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work truly be our own. how to review what god's will for us how do we come together to give confidence for the american people?" we would have our disagreements and debate them and confidence in our humility to listen to others. in more recent years, i have been praying not only for that but for our safety. clearly, that quite anyone in here half of the more of ahe target of political target and awful more threats than anyone perhaps more of the uniteddent states, barack obama. i prayed for barack obama and i continue to pray for him and i pray for donald trump that his presidency will be successful and that his family will be safe. it is about family. we are called for a purpose to
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this body. it is a great seeing. we know what it means to each of us and we recognize that in others. and we also recognize that you have your constituents. and we respect you and your constituents who sent you here. all worthy of respect. differences.e our and so, i pray, my prayer is that we can resolve our differences in a way that furthers the preamble to the constitution that takes us pluribus unum. and today, it is in the family. it is an injury in the family for the staff and for our colleague and for his leadership. as i mentioned a minute to go, sports are a wonderful thing in
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our country, probably one of the most unifying. , but sportsay music really bring us together in our cities. you see people have the biggest differences of opinions on politics, but yet when a 13 was on the field, people, together. people come together. when this team was practicing in such -- with such camaraderie and brotherhood, i do not know if you had any sisters on your team, we have 2. for this person to take this action was so cowardly, so , we all learn more about motivation than the rest of us. ,t seems particularly sad particularly sad that at a time where people want us to come
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together and were prepared to come together tomorrow we cannot let that be a victory for the assailant or anyone who would think that way. tomorrow we will go out on the field, root for our team for everyone to do his or her to and we will use this occasion is one that brings us together. without again i want to thank the speaker for bringing us and give endless gratitude to our capitol police, in particular today. but never out of our prayers, detective john gibson. thank you for the opportunity to share some thoughts with you on this sad day. .ou are deeply in our prayers we count the minutes until you return. thank you all.
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>> you've been listening to the house democratic speaker nancy pelosi talking about that unfortunate incident. the second shooter this morning at baseball practice. nancy pelosi talking about the injury and saying she prays for everybody in the chamber and perhaps an incident like this can bring them closer to e pluribus unum. before that we had paul ryan, the speaker, talking about the incident. it's going out to bloomberg pass national political reporter on capitol hill. how is this likely to change the dialogue, if at all, with the medium-term to long-term in washington? isl this event, as sad as it -- will it disappear from memory
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in a few days? >> i can speak for the short-term and based in what we just saw there, this is as united and nonpartisan as you will ever see congress get. we saw browsing bipartisan standing ovation for paul ryan and nancy pelosi. speaker ryan talked about how an attack on one of us, an attack on all of us, rousing ovation in the chamber for that. nancy pelosi talked about her special connection with mr. shot today, ass a fellow italian-american. before that we heard president trump gives a measured, very sort of unifying speech, saying now is the time to cherish the ones we love. it has dialed down the temperature on the hill today. it's likely to be that way in the short-term. i spoke to senator lindsey graham, a republican of south carolina, who did suggest if there is a debate about whether to change the laws, specifically
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as it relates to guns, he does not expect that dynamic to change. what he told me and a few other reporters is that people get shot, people get stabbed, people get run over. at the end of the day, we not going to infringe on people's rights. that debate is going to end as it is. he said the best thing lawmakers can do is move on, continue to do their work. it's tragic, but they have to continue to do what they came here for. a somber day, a reflective day. a number of lawmakers are shaken up anyway i have never seen before. one of their own was targeted, what could have been a much more massacre ifangerous not for capitol police there to protect the victims. vonnie: president donald trump said earlier you silent has now died from his injuries -- the assailant has now that from his injuries. is there potential for this to be political eyes -- politi cized?
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>> there's little doubt there will be people who want to politicize this. this always happens in a situation like this where tempers and antagonism between the various ideological camps run so hot and so intense, probably amongst the most we've seen in generations to there will be people who try to politicize this. we are not seeing this from lawmakers. based on what we saw from ryan and pelosi. that is not setting the tone in terms of how people are looking at this year. we are not hearing lawmakers going after each other. we are not hearing a right versus left debate. members of congress relies on this issue, on their safety and ability to debate things, they can get very heated, they can intensely disagree on policy matters, but the people who matter will be united. vonnie: yes, and i want to point out that voting was suspended for today.
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you won't see any votes. there was a gathering in the house. work is being interfered with for today. we'll get back to normal for tomorrow? >> we know all action in the house has been canceled today. morning speeches were canceled. all we heard was from speaker ryan and nancy pelosi, that is all the action we will see in the house today. votes have been canceled. in the senate there are still planning to proceed to vote this afternoon, the latest i checked a few moments ago on measures relating to russia sanctions and iran sanctions. we heard senator mcconnell and senator schumer, the republican and democratic leaders, also give some remarks and not condemn this attack. the senate is continuing as far as we know but not the house. vonnie: i want to point out that gabby giffords released a statement to give one or two lines from the statement, the congresswoman saying it doesn't matter if you are democrat or republican, nor if you are senator or representative, nor a a sworn officer at
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if you serve the institution of congress, you are connected to your colleagues, current and former by a shared sense of adherence to ideals far greater than yourself as she goes on to say, i am heartbroken for the pain of congress. it is poignant that gabby giffords who herself was a victim of bullets for now this statement. >> -- is putting out this statement. eventually ended up resigning from congress to focus on her recovery. a powerful statement. she has since then dedicated future gunpreventing violence trait she's been involved in various debates to makeanging gun laws them more restrictive in terms of having people do background militaryd preventing style assault rifles from being out in the open for average people to buy. she's made that her cause. this was, you know, from our
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unifying statements about people needing to come together, condemn violence. vonnie: do you know what the next event in congress or outside of congress, perhaps in court is, when it comes to gun ownership, any legislation being prepared or any conversations being had about background checks or anything else? >> there was supposed to be legislation considered this week relating to whether to loosen laws for guns with silencers. that was supposed to be considered in the house. business has been canceled in a house and we don't know the future of that trade in the senate there were no plans to consider gun legislation, but the major types of her stripped of gun legislation people try to pass, particularly in the wake of the sandy hook shooting in 2012, it's unlikely that's going to happen.
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we've seen various shootings happen over the last few years, and that is not change the fundamental debate over gun rights and gun control, so i would not expect this event to change that, vonnie. vonnie: thank you for all of that. he's our national political reporter. well, markets are still trading and there's a big event that begins at 2:00 p.m. with the fomc statement. major indices relatively unchanged. the s&p down a point and these that stack of 3 points. --nasdaq up 3 points. abigail: we the major averages unchanged, trading and small moves. we have a dow trading at an intraday record high. despite the tragic shooting in assessingseem to be that is unlikely to affect the u.s. corporate profit outlook and looking ahead to the fed. this is an intraday chart of the 10-year yield.
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a 10 basis decline. this tells us that haven bonds are rallying. this came after the cpi report for the month of may. that's pretty interesting and the fact that it puts data right ahead of the fed before the fomc discussion that may suggest they could be a little bit more doveish than what some investors have been anticipating. it will be interesting to see but it's worth noting this drop is the biggest drop in the 10 year yield since brexit of last year. that big dip really did come after that disappointing retail sales report. as for what could be ahead for the 10 year ield, we happened to the bloomberg and take a look at g #btv. we have some that the interesting going on. we've been looking at this chart for 6 months. basicallycember and march we have this range of uncertainty. time, weaised last
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thought rates fall prey. more recently the 10 year yield fell out of that range, below 2.3%. now around 2.10%. the measured move out of this range suggest we could see the 10 year yield fall to 2%, perhaps below. scott minor at guggenheim told us more than a month and a half ago he thinks we could see that kind of move, perhaps even to 1.5%. it will be interesting to keep an eye on this straight this may suggest the fed could be more doevish than what is expected or that there is some sort of haven play. finally, let's look at that move in the 10 year yield today on the financial sector. right seeing the banks across the board tray down including the big bank of bank of america. we have regionals, 2.4% down by citizens financials, and prudential insurance company also down. this is the worst sector -- energy is the worst sector for the s&p 500, but this is one of the drags on the s&p 500 today. vonnie: thank you for that
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market update. coming up, steve mnuchin talks bank regulation, tax reform, and the consumer protection agency. ♪
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vonnie: this is "bloomberg markets." i'm vonnie quinn. here's mark crumpton. mark: more on our top story of the day, that shooting at that baseball practice this morning attended by congressional republicans in alexandria, virginia. pennsylvania congressman patrick man is listed on the roster for tomorrow's congressional charity baseball game. he wasn't at this morning's practice but he did speak to reporters at the capital. heis jeff was locking out
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actually saw the shooter who spoke to him and said, who are those guys? he said, that's the congressional baseball team. he said, what are they, republicans or democrats? he said, he republicans. that was the conversation he had. >> he said he acted a little weird. mark: vermont senator bernie sanders says he was informed the alleged shooting volunteered on his presidential campaign. sanders released his statement which reads in part, i'm sickened by this despicable act. let me be as clear as i can be, violence of any kind is unacceptable in our society and i condemn this action in the strongest possible terms,". president trump announced today the shooter, james t. hod gkinson, was killed by authorities. there are reports of a shooting at a ups facility in san francisco. we are looking at live pictures whichbc tv affiliate kgo
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reports the incident occurred in the area of 17th street and san bruno. there are no immediate reports of injuries or fatalities. london police say the death is a massive apartment tower fire has risen to 12 and that death toll number is expected to go even higher. dozens of people were injured and several hospitalized. they are listed in critical condition. fire broke out at the 24 story tower shortly after midnight. witnesses and survivors say that residents bank on windows and screamed for help and one witness said a desperate woman dropped a baby out of a window of a child was caught by a man on the ground. global news 24 hours a day, powered by more than 2700 journalists and analysts in over 120 countries. i am mark crumpton. treasury secretary steve mnuchin says the consumer financial protection bureau needs oversight similar to the federal reserve where the fdic.
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charlie rose talked about the importance of oversight. >> there should be a board that oversees the consumer protection bureau, very similar to the fed and fdic, or the head of the agency should be basically able to be removed at will by the president. those are the two tracks. we think the funding shouldn't be a blank check from the fed. should gohey funding through congressional funding and approval like other government funding. vonnie: mnuchin also says he's focused on driving roads and community banks and they should undergo some stress tests, the same as their bigger peers. >> what are the recommendations we can make that will drive growth and community banks, credit unions, and regional banks? if you look at the u.s. banking system, 50% of the assets are held in the top. there are 12,000 other banks.
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we want to make sure we unlock the burdensome regulation on those other banks so they can make sure they are lending in her communities too small and medium-size businesses. charlie: people are saying, unemployment is very low. there has been no crisis since 2008. why do we need to fix it if it ain't broke? >> for a lot of people, the system is working, but there's an awful lot of people that the system isn't working. although we have very low unemployment, there's a lot of people who have left the labor force because they can't find jobs and there's a lot of people who for the last 10 years haven't seen wage increases. we are focused on creating sustained economic growth at 3% or higher, getting the economy back to where we think it is,
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and as you said, that's tax or from, regulatory relief, and trade combination. charlie: we have to assume some balance between protecting taxpayers and loosening regulations so it will enhance growth. how do you find that balance? >> that's what this assignment has been all about. we've gone out and help listening sessions. this isn't just about the treasury department printing and academic study. we've gone out to over 18 different groups. many of them had 50 to 100 people here. we've taken written comments. we went out to consumer advocates, regional banks, all the regulators. we have tried to come back with recommendations. we balance making sure we never put the taxpayers at risk, and making sure that our banking andem can be competitive, especially that small and medium-sized businesses have the proper access to capital. vonnie: that was treasury
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secretary steve mnuchin. with the full interview charlie rose tonight at six p.m. and 10:00 p.m. eastern. leave of, uber's ceo absence creates a leadership vacuum is the company beatles with scandals. -- as the company is riddled with scandals. this is bloomberg. ♪
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vonnie: this is bloomberg. --"bloomberg markets," i'm vonnie quinn. that's what bloomberg west gadfly columnist wrote about today and she joins us now. when you say convention balking envelope pushing, ceo's, and you say it's our fault -- >> the conditions that created a
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company like uber are not unique to one company, that we in the press tend to glorify the ceos being willing to buck convention and we shouldn't be surprised when those same qualities turn from an asset to a liability. vonnie: it's been a liability for a long time and it is scandal after scandal. uber has never been reticent until now when they've had to be because they are implementing the results of a report. and, by should we have sympathy now? -- why should we have sympathy now? >> that's a fair point. this is a company that has serious problems, cultural down to the roots. i think the issue here is that uber -- it's a $69 billion valuation company. is not going to go away. it's part of the fiber of
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transportation in many u.s. cities. we can't just write it off as, let's never think about this again. vonnie: he leaves because he makes an unfortunate comment at a board meeting. but there are plenty of massive series a investors that are widely respected. does it matter that david solomon is gone? answer that question because i don't know and i don't know how involved he was in the board discussions at uber. it does matter even for optics that you have this powerful investor, member of the board at uber the makes a dumb, sexist joke in the worst possible moment to call a meeting to tackle sexism at uber, then you spoil it with this sexist joke for which he apologized. we will see what happened. it's clear the board will take more control of uber and the
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board is somewhat diminished when one of the powerful board members has stepped down. vonnie: your article, everyone should read it. we also have bloomberg view. i will read one quote for you. uber try to steamroll over including by devious technical means to get where it is today. should we have no mercy on uber? should be not be happy until they go out of business? -- we not be happy until they go out of business? >> i think that's a great question. two of the most disruptive startups of the most recent generation, uber and airbnb, they are both about disrupting the status quo in cities, and flouting a lot of regulations along the way. companies, those
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have become important to the fabric of life in many cities and countries around the world. the question is, can you have something that is disruptive to the status quo but not to the point that it literally breaks everything and everyone in their path. vonnie: we have to leave it there. it is fomc day. we will be watching any uber developments. doesn't a month go by without an uber development these days. bloomberg gadfly on your bloomberg. still ahead, full coverage of the fomc meeting, the statement, the press conference, it's all right here on bloomberg. bill gross will join us. stay tuned. this is bloomberg. ♪
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television and radio. it is not business as usual in washington african man fired i republican lawmakers baseball congressmanjuring steve skill. the house delayed votes. steveent trump said is wounded but fine. federal reserve policymakers will conclude their two-day meeting as originally scheduled. they will have a decision announcement at 2:00 p.m. janet yellen will have a news briefing at 2:30 p.m. i am joined by my cohost tom keene and michael mckee. gentlemen, my initial thoughts are the economic data we got this morning was interesting, critical data that moved in the wrong direction. retail sales and court cba,

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