overall -- there is jay powell. let's take a listen. >> my colleagues at the federal reserve and are i dedicated to serving the american people. we do this by steadfastly pursuing the goals congress has given us, maximum employment and stable prices. we are committed to making the best decisions we can based on facts and objective analysis. today we decided to lower interest rates. as i will explain shortly we took this step to help keep the u.s. economy strong in the face of some notable developments and to provide insurance against ongoing risks. the u.s. economy has continued to perform well. we are into the 11th year of this economic expansion and the baseline outlook remains favorable. the economy grew at 2 1/2% pace in the first half of the year. household spending supported by a strong job market rising incomes, and solid consumer confidence has been the key driver of growth. in contrast, business investment and exports have weakened amid falling manufacturing output. the main reasons appear to be slower grow

now the ball is in jay powell's court. i think president trump had some thoughts next. ♪ devices are like doorways that could allow hackers into your home. and like all doors, they're safer when locked. that's why you need xfinity xfi. with the xfi gateway, devices connected to your homes wifi are protected. which helps keep people outside from accessing your passwords, credit cards and cameras. and people inside from accidentally visiting sites that aren't secure. and if someone trys we'll let you know. xfi advanced security. if it's connected, it's proteed. call, click, or visit a store today. >> the council started to restart net purchases under, at a monthly pace of 20 billion euro as from november 1st. charles: european central bank president going back to the tool box, bringing back quantitative easing, otherwise known as money printing, even taking negative yields even lower. this putting more pressure on our federal reserve to cut rates at their next meeting next week. president trump has a message for powell, th

jay powell likes consensus thinking. we want federal reserve to take over. >> i want consensus, as military guy, so are you. charles: military guy, when the highest ranking officer stepped in the room he or she was in charge! >> it says, sarge, what should i do? i like that. other sergeants have input. that is how you come to a better decision. >> during the next week you will see a parade of fed heads walk out on shows like this, walking out whatever comes tomorrow. they will be talking their own book. charles: with respect to what happened overnight, i don't want to get wonky about this, there was a mini-crisis, a lot of people say it could impact the federal reserve. maybe their balance sheet could be larger. help us with this, zach. >> you saw repo rates take off. two big things we saw driving this, corporate tax payments at september 15th tax deadline, while at the same time net treasury issuance in the form of coupons was above 50 billion on monday of this week. those two factors, particular timing of the two, caus

moments ago we did hear from the man himself, jay powell, the fed chair commenting on the state of our economy and also world outlook, this perhaps public comments before that nextgaterring after report that saw giant surge in labor force, in the labor force and also wages continue to be stronger than anticipated. plus attorney generals are launching separate antitrust probes in facebook and google. hurricane dorian continues to battle the east coast, we have update in north carolina after storm made landfall only a few hours ago, all that and so much more on making money. ♪ ♪ charles: federal reserve chairman jarome powell speaking ongoing tensions with china, last time we will hear from fed officials before that september policy meeting, right now the betting is that they will cut at least 25 basis points. i want to go to fox business edward lawrence who joins us now with complete recap from the entire speech, not entire speech but recap. >> he also mentioned the job's report that came out, the job's report showing stable economic foundation, the job's creation 130,000 in august,

again i think jay powell needs to tell us what the jay powell doctrine is, and somehow get his fellow board members to get on board with that. i felt like greenspan did that. bernanke did that. even yellen did that. are you okay with this laissez-faire federal reserve. >> laissez-faire i'm not sure i call it that. diversity of thought is a good thing. we want the group debating almost in a good constructive way fighting it out. charles: ultimately like a football game. you have one quarterback. great in the skull session on friday for everyone to have ideas but when you get on the field you have to have one person kind of saying we're going to march this ball down. hold there. president trump is speaking. let's take a listen. >> very important to me, why isn't europe, i was speaking about this to the president, to president duda, why isn't europe spending more money? why is it the united states spending money? i've been complaining to my people all the time. we spend so much money not only to ukraine but to other places. why isn't germany spending more money? >> why isn't france or ot

." ♪ charles: well, we begin with the fed the day after and while most observers agree that jay powell did a better job communicating, yet confusion reins as fed members are all oaf the map where rates should bo from here. president trump telling fox news what he thinks of the rate cut decision. >> i think we should do more because other countries have done more. if you look at germany, if you look at japan, look at some others they're cutting much more. in fact they're borrowing money, getting paid to borrow money. we're paying interest. we're the most prime in the world. we have this great economy. we're doing better than we've ever done. our employment numbers are the best they have ever been, unemployment numbers also. we are doing freight. we should be cutting there is no inflation. charles: as the fed is pumping even more cash into our financial system today. in fact over $200 billion in the last three days in the repo market. will bring in university of maryland economist peter morici, first trust advisors chief economist brian wesbury. essentially peter, president trump saying

whether jay powell or mario draghi on other side taken enormous credit. mario draghi at his last press conference the ecb created 11 million jobs and saved europe. had nothing to do with policy which is incorrect. if something were to go wrong if there was a shock to the system? >> we had $1.5 trillion in tax cuts last year we're still seeing softness in cap-ex in manufacturing. so it is not the whole solution obviously. and so i think what is going on here, markets are putting too much on the fed's back right now. there is a limit to their effectiveness creating the kind of catalyst that really drives investment and that is an open opportunity for some creative thinking on the fiscal side. charles: that is whole different argue men with going into the election year as well. i don't think anything will happen. we'll be happy and lucky if we get usmca. but having said that from the stock market's point of view, wall street doesn't care. wall street is greedy. they have been pushing around the fed for a long time and getting away with it. they anticipate an

only naivety of jay powell and federal reserve doesn't allow us to do what other countries are doing. a once in a life opportunity that we are missing because of quote, unquote, boneheads. jason rotman michael. president trump bringing real estate chops to the discussion. >> he likes low rates. charles: we all do. we're waiting for big wave of refinancing. essentially low rates, refinance, what's wrong with that? >> yeah. i think at the end of the day he is doing what he is supposed to do, he is lobbying for things helpful to the economy. when it brings rates down, refinancing with government debt that is slow moving thing. rates won't stay low that long. while they're low, look for ways to be tactical, get the cost of debt lower, that is not a real thing in my view. charles: jason, what about the real thing of being competitive with respect to rates in general? the ecb is ready to announce some amazing things, right? and so if jay powell thinks the pressure is on now, wait until tomorrow, when the ecb says we'll buy bonds. we may look at equities. we're cutting rates. we'll be accomm

charles: i think that jay powell really hurt the markets during some of these fomc comments. it won't be the rate cut but that q & a period afterwards, right, once he said inflation was transitory, another time he sort of, you know, he hasn't been good, in my mind. how important is it that he suggests or lets wall street continue to believe that there could be more accommodation? >> well, you can argue that, if there's more accommodation it means he's seeing something in the economy that's not so good. but on the other hand, if he does accommodate more -- charles: take the mario draghi approach, low inflation, i.e. potentially deflation is enough, even though everything else being okay, that we should do at least one or two more. >> i think the markets anticipate that and i think he should leave himself flexibility and because right now, the market has an anticipation for the fed. if he just does 25 and talks reasonably down the middle of the road, the market is more interested in china and earnings than what the fed does this wednesday. >> i think he has been just such a dis

i'm jay wallace and i'm here with annie jameson. we're happy to go through the slights, buslides, but we wantey thank you to the supporters throughout the city. it's been a great opportunity to present a really positive outcome for the city and we hope that it meets all of your expectation and ours. i'm thrilled to be here with annie. she started -- >> in 1998. so tell us a little bit and then we'll get into that. >> i started in 1998 and i was involved with the mayor of san francisco came to meet the mayor of seattle and calm to see the show. they had a conversation about hey, if it closes in seattle, it should come down to san francisco. that is what happened and started a great partnership between the two city. i'm pleased we're able to continue that tradition and move forward. thank you. >> in termsch the desigs of thee project, they're still not able to be with us today. but you have heard from him in the past. the project hasn't changed one bit since you heard from us four years ago. a site plan, we find the interior of the bu

jay wallace. all joking aside, i do want to extend my appreciation to the port bath, we meet regularly, they are tireless in their advocacy of the ports interest. they let me yell and scream from time to time. we all work well as a great team. you have some tremendous port staff, it is your to work with and i'm just excited to finally be here with the dates ahead of us after many years. ricky, rebecca, mike, elaine, grace park, who is not here, all of them do a great job. thank you very much. i'm happy to answer any questions. >> that is the end. that is it area any public comment on this item. oh there is a lot of public comment on this item? don't feel compelled to eat. we know that they have a lot of support. we know what a wonderful process this is area if you really want to speak, come on up. does everyone want to seek, or does anyone not want to seek -- week -- -- speak. >> i'm on the board of the barbary coast neighborhood association, we are the immediate neighbors of the project. they hav

secondly, moving on to the ho jay tenant improvement c.o.p., the office of public finance expects not to exceed amount of $2 million in c.o.p. based on the estimated cost for the 62 million c.o.p., the office of public finance estimates the maximum annual debt service will be approximately $4.7 million per year for a term of 20 years. a little bit of background on the c.o.p., as a general fund supported form of debt, the c.o.p. will be repaid by annual base rental payments appropriated in the city's general fund. it will structure the c.o.p. as a lease buying between the city and a third party trustee. it is anticipated the city owned laguna honda campus located at 375 laguna honda boulevard will service -- serve as collateral to secure the c.o.p. for more background, the campus sick -- currently secures the existing c.o.p. data that was issued in 2009 and 2012. with the approval of these ordinances, the board will also approve related financing documents in their final and substantial form, including the supplements to the project and property leases, trust agreement , notices of sal

opposition to the project from neighbors voicing concerns over the fourth floor on light and privacy to add jay sent buildings and out of context to the the neighborhood and concerns of the conversion of three unit structure and effects of neighboring foundation. i believe there was one additional. staff recommends approval of the conditional use authorization request as noted in executive summary. it does involve demolition of the structure, proposed will provide two family sized units. it is not historic resource. this is a point of clarification. the unit is not occupied it is vacant. no known evidence of eviction: it is consistent with rh two zones. that is concluding my presentation. the sponsor is here with a quick presentation. >> good evening, president melgar and members of the commission. i am going to edit this on the fly so bear with me. the reason we are asking for demolition is because the existing driveway goes up 4 feet 9 inches from the street. any attempt to modify the building to add fourth floor. the existing building is seen from the street yesterday. here is a closeup of t

in the words of that great philosopher jay-z -- you wonder why they call it the projects? because it is a project. but we are changing with hope s.f. these are communities that demand the respect, that demand for us to pay attention to them and make sure that that isolation that has existed changes. so this is not just about the housing that is going up; it is also about the grocery stores that we fight for to come to this community. it's also about making sure that the streets and the roads look like other areas here in san francisco. it is about the joint partnership with bains and nibby, and bains being the biggest black contractor that we have working on projects here in san francisco. it's about all of those pieces working together to create a vibrant community for the people who have been made so many promises for years. as someone who has lived in public housing, and who had opportunities and mentorship and people helping me be able to grow, so we can come back and work together to realize the things we've talked about for decades. and that is the vibrancy of hope s

. >> my name is jay and i own a business at 1010 stockton street. i support chinatown station only. if using a person's name, travelers won't know what it is. it will be a loss to our business. thank you. >> thank you. next speaker, please. >> hi. i have a video. >> my name's amy chan. i am for naming chinatown station only. >> i was not aware someone putting up a sign supporting rose pak outside of my store. i support chinatown only. i do not support rose pak station. thank you. >> thank you. next speaker >> good afternoon, board of supervisors. thank you so much. i stand here to represent my daughter -- >> and what is your name? >> cassie bahr. we just came here from china because my husband was persecuted in china for eight years. my daughter asked me, why is rose pak name on the station? i love chinatown, i love china, but they use rose pak name on the station. this is america. our teacher told us america is free country. what is difference? is it right? so please, please help us help the children. thank you. >> thank you. next speaker, please. >> greetings, board members. my na

. >> i am jay. for the purposes of today i am a board member and resident of richmond. i am familiar with this location. i go by it quite a bit. i am speaking in support of the 744 proposed homes and specifically in support of the plan. i hope you will approve them as is. i want to share a couple quotations from a book that i have been reading recently. the review process is highly political. the people with the greatest steak in the outcome -- stake in the outcome plan play no part i. we don't know who they are. they may be people coming from elsewhere. also, hearings like this they demonstrate there is no local constituency for the people who will live there. people talked about considering the people already there. i agree. that is an important consideration. we need to consider the people who will be there in the future. i came to san francisco six years ago. this is the place that called to me. it is a place i knew i wanted to live and be my best self and fully live. i didn't know about the housing challenges other than offhand jokes. there were reasons to be here.

jay, valerie. >> i am karla. i am a member of the board of pacific heights residents association. phra fully supported 3333 california street. iit is a fantastic project. i am a neighbor. i have lived here since 1990. ir walk, bus or drive around the property many times every week. my two youngest children just graduated from college. both of them have moved to utah to afford housing. in all of these capacities i am happy to support this project for the following reasons. it adds thoughtfully planned housing, housing the city needs and needs in this neighborhood. at a mixed range of afford built. proto is responsive to neighborhood concerns. it offers greenery and adds commercial space on california street. it is a wonderful chance to incorporate this into the fabric of the neighborhood instead of buildings entirely separated by a wall. we will have north, south, east, west access through the property reintegrating with the existing grid system. i strongly encourage your support of this project. thank you. >> next speaker, please. >> i am will, long-time resident of the neighborho

department that they will have to sell their space needs elsewhere and we can't, as part of the ho jay exit, absorbed that cost. so they moved into the building without my knowledge or permission, and we are working with them to try to resolve that situation, but it is not anticipated that real estate or this committee would be asked to solve so how is it that we move into the hall of justice without your knowledge or permission? >> just to fact check, i heard this number yesterday also. if i could just read the information that we provided about what has been going on. it was january of 2019. we increased by 16 to extend the hours of healthy street services to 11:00 p.m. the total number was 43. as of september 2019, the total number assigned was reduced to 40. they stated that they do want to vacate the hall of justice and understand the need to do so and did not validate this number. >> i think people who have personnel on that building know there are 80 people. i have heard this, not just from one source. i just want to say, could you please fact check that? and the idea that they